Commentary

From the collapse of biotech firm Theranos to the recent bankruptcy of crypto exchange FTX, the prevailing need for proper governance in privately-owned companies is gaining more attention. These high-profile start-ups, which can be sizeable in terms of valuation, do not fall into the purview of regulators or are not publicly listed. Therefore, such regulatory arbitrage or the lack of public scrutiny may result in the firm being susceptible to governance failures if sufficient checks and balances are not in place. 

Singapore, an island nation scarce in natural resources, imports more than 90 per cent of its nutritional requirements from diversified sources comprising over 170 countries and regions to ensure a resilient food supply chain. 

The Singapore government has implemented several measures to support small businesses, one of which is the Productivity Solutions Grant (PSG) government grant. This grant is aimed at helping small businesses in Singapore to adopt technology and improve their productivity. In this article, we will take a closer look at the PSG grant and how it has helped small business owners in Singapore through the examples of ComfortDelgro Engineering and Achieva Technology.

Yves Roesti, Managing Partner and CEO, and Rahul Bansal, Associate Partner, Synpulse.

Singapore unveiled a new long-term work visa in late 2022. Singapore's ONE Pass is targeted towards attracting specific senior-level talent — those with regular monthly salaries of at least S$30,000 ($US21,128). The extended 5-year duration of the ONE Pass will also be an excellent way for individuals and businesses to consider Singapore as a long-term option. 

The maritime industry’s transformation is creating a new wave of exciting careers. It could be the perfect opportunity for those in search of a purposeful career.

Singapore has made significant strides in improving workplace health and safety over the past few years. According to a Ministry of Manpower (MOM) report, the average rate over a rolling three-year period was an all-time low of one death per 100,000 workers. However, there has been an alarming spate of workplace-related accidents and deaths this year. 

Digital transformation is essentially at the top of every organisation’s priority. As organisations look for ways to stay competitive in a landscape of disruptive technologies, having a well-thought-out strategic plan is crucial. And a crucial part of the strategic plan includes finding and retaining the right technical talent. However, according to the Harvey Nash Group’s 2021 Digital Leadership report, tech skills shortages are now at its highest, especially in cybersecurity, big data, and architecture. If not addressed, this gap will only widen. 

The newly tabled Electric Vehicle (EV) Charging Bill in Parliament is a much-welcome step in the right direction as mobility in Singapore continues to evolve. By ensuring the reliability and accessibility of the EV charging network and services in Singapore, we’re already advancing the conversation on EV adoption – from talking about increasing the number of EV charging points to discussing the quality of such infrastructure that will spur the adoption of EVs.

Singapore’s inflation rate may have eased slightly in October, but Singapore consumers will continue to be mindful of budgets and spending priorities, in the face of economic uncertainties and geopolitical tensions. While Singapore retailers are not immune to the pressure brought about by consumers’ spending habits, the holiday season provides a window of opportunity for brands hoping to recover from the sales slump in past quarters  – if they know how to connect and engage with consumers the right way. 

The move to a new era of banking is underway in Singapore. 

Cooling is critical to our modern society. It provides comfort for buildings and essential temperature controls for mission critical infrastructure like data centres and pharmaceutical manufacturing. While cooling technologies keep us comfortable and safe, they also impact the climate. According to the World Green Building Council, the cooling, heating and lighting of buildings is responsible for around 28% of global CO2 emissions. In Singapore, buildings make up over 20% of carbon emissions. 

For employers, attracting talent is critical to remaining competitive, but nurturing the talent you have is the key to winning the war for talent.

Tax authorities and legislators all over the globe have been actively working to prevent tax evasion and promote global tax transparency for almost a decade now. As core components of the global financial ecosystem, FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) legislation aim to prevent tax evasion by compelling financial institutions to transmit certain information about certain account holders to their country(s) of tax domicile. Ultimately, their objective is to identify and discourage tax evasion by tax residents of countries using offshore banks and other Financial Accounts. 

By Pat Patel, Executive Director, Elevandi

Many businesses in Singapore have been forced to rethink their customer engagement and business strategy. In short, the pandemic provided an on-ramp for brands to transform their business models to address shifting consumer habits to set them up for success for the next couple of years.