Q3 2023

On working hard, another person remarks, “Victor pushes his team to achieve results; though the team “complains” about the hard work, but seem to wear it as a badge of honour – they sound motivated, probably seeing that he pushes himself harder than others.” “Victor is generally a good superior to work with. He is able to adjust himself to the different personalities of his various staff and his approach is always to make the most of each person’s strengths rather than focus on weaknesses.” Transforming the Prevalent Capitalist System and Uplifting Vulnerable Groups Victor is not just a business leader but he is an evangelist and advocate, especially on inevitable trends in which he believes. He has volunteered at the NGO specifically to advocate Sustainability Development Goals and uplift the vulnerable groups since 2005. He chaired the United Nations Global Compact Network Singapore and actively promoted and advocated Corporate Social Responsibilities amongst the business community since 2010. Concurrently, given his passion for vulnerable groups, he was also the Chairman of the Association for Persons with Special Needs operating five schools for 1,500 special needs from ages 7-62 years old. Victor explains that he noticed the vulnerable groups were unable to access resources and scale the social ladder. Hence, he had a deep realization that the prevalent capitalist system is inequitable and unsustainable. The current system perpetuates a broad resource allocation gap reflected in the Oxfam Inequality index and Genii Coefficient. The system is inadequate to provide a safety net for the vulnerable groups. Thus, amongst the investments that Global Catalyst Advisory has made, Victor says that traditional assessment tools of measuring financial yield, IRR, NPV, ROI were inadequate. He blended financial and social impacts to ensure that every invested project should be revenue-generating and self-sustaining as a key fundamental. But he noted that it should also meet KPIs of employment creation, remove social costs and poverty, as well as resolve economic externalities where costs are shouldered by government, which in turn were extracted from the citizens’ and corporate taxes. Therefore, it is myopic that businesses are only focusing on financials, cost reduction, and profits. Corporate responsibilities should focus beyond financials but towards societal contributions and impact. When asked about the larger aspiration he has for Global Catalyst Advisory, Victor replies, “The destiny of the firm is enshrined in its name, “Global Catalyst”. It will need to catalyze global transformation, level out societal inequality, and resolve the world’s issues.” Company: Global Catalyst Advisory Contact: Victor Tay Email: victortay@ globalcatalystadvisory.com Website: www.globalcatalystadvisory.com Figure 6: At the Singapore government platform hosted by Enterprise Singapore to address Industry Associations on Policies and Best Practice