The RMAF is a $5million fund set up by the Ministry of Manpower in April 2006 to help SMEs defray the cost of engaging:
- approved risk consultants (ARCs) to build in-house capabilities up to 90% of training and consultancy fees, capped at $6,000;
- MOM-approved WSH auditors to audit their Risk Management implementation up to $600.
In July 2007, the government supplemented the funding by further $8million injection to provide financial assistance to even more SMEs
Funding application through appointed RMAF agents only – can claim up to $400 to offset administrative fees of engaging a RMAF agent
SLA is one of the approved RMAF agents in WSH Council site to advise and provide assistance to Applicant Companies that wish to apply for the Fund. Other roles and responsibilities of the RMAF agent include:
- Market and promote the Fund actively to all eligible companies – including non-members and enterprises outside of logistics industry;
- Check if interested Applicant Companies meet the criteria and requirements to qualify for funding;
- Provide interested Applicant Companies with a list of Risk Consultants and WSH Auditors that have been approved by the Ministry of Manpower (MOM);
- For each Applicant Company, recommend a WSH Auditor (from among the list of MOM-approved WSH Auditors) that is independent of the Approved Risk Consultant (ARC) engaged by the Applicant Company;
- Process all applications for submission to WSHC including verifying the required documents;
- Retain all supporting documents, including documentary evidence by the WSH Auditors, for a period of 2 years for purpose of audit by WSHC;
- Endorse any documents as required under the Terms and Conditions of RMAF, etc.