A $1 million training assistance fund was launched yesterday by the Singapore Furniture Industries Council (SFIC) to help its members offset staff training costs.

The Member Assistance Scheme (MAS) will include over 280 members under the SFIC and provide each member company with between $2,500 and $4,000 in assistance.

President of the SFIC, James Goh, said: 'SFIC members are still performing well but because of the anticipated global economic slowdown, we are extending the opportunity to offset the cost of employee training at the SFIC Institute.'

From Feb 2, 2012 to Jan 31, 2014, members can use the funding to offset the cost of staff participation in training programmes and seminars offered by the SFIC Institute, a subsidiary of SFIC. Formerly the Furniture Learning Institute, the SFIC Institute focuses on human resource and talent development.

The amount each member receives will be determined by the length of SFIC membership as of Feb 2, 2012. A company with a membership of 10 years or more will receive the maximum subsidy of $4,000. This is applicable to about 40 per cent of all eligible SFIC members. The remaining 60 per cent will receive assistance of between $2,500 and $3,000.

This is the fourth MAS initiated by the SFIC. The first three MAS provided 264 SFIC members with up to $3.3 million in funding help between 2001 and 2009.

The scheme will be allocated to all full and associate members who joined the SFIC on or before Feb 2, 2012. Under the SFIC constitution, a full member is any Singapore furniture manufacturer while all other furniture-related companies and businesses belong to the category of associate members. The SFIC currently represents 95 per cent of established furniture manufacturers in Singapore.

Mr Goh added: 'In light of the current economic climate, we feel this is an opportune time to reciprocate the strong support extended by our members over the years and we want to do so in the most practical way.'