Dear Valued Clients, Welcome to our E-Newsletter August 2018 Another month passed and we are in the third quarter of 2018. Let me walk you through of Singaporean economy as influenced by continuous challenges and global trade tensions. A Quick Look at Singaporean Economy Performance in Second Quarter Singaporean economy recorded a 3.8% growth…
Raising Concerns: Employers in Singapore Mis-Labeling their Staff to Avoid OT Payments Employers in Singapore apparently escaped paying their employees entitlements like OT payments after they allegedly classified them as managers or executives. According to the Ministry of Manpower, there were about 50 such cases last year. Among them, 90 percent of victims had the…
GigaCover Brings the First Insurance Protection for Freelancers in Singapore Here is good news for those into freelancing. Insurance protection for freelancers has been introduced in Singapore. To help freelancers mitigate the loss of income during a period of prolonged illness, GigaCover brought the first standalone freelancer insurance product in June. With this new scheme,…
Singapore Foreign Reserves Gain at $8.5Billion The Monetary Authority of Singapore (MAS) recently announced in it’s annual report that the official foreign reserves (OFR) gained $8.5 bilion for the FY2017/18. According to the MAS, strengthening of the Singapore dollar against the US dollar provided a translated negative effect of $13.8 billion while investment gains contributed…
Customers Can PayNow at 3E Accounting On 14 August 2018, 3E Accounting implemented PayNow, a peer-to-peer funds transfer that allows faster and secured online transaction. 3E Accounting’s customers can perform transaction to 3E Accounting instantaneously with our Unique Entity Number (UEN) issued in Singapore. Similar to how PayNow works, customers do not need to know…
All Singapore Business Will Be Required to Have CorpPass from 1 September 2018 Beginning 1 September 2018, it will now be mandatory for all business in Singapore to transact online using a CorpPass Account. The Singapore government announced last year that CorpPass will be the only acceptable login method for businesses who wish to continue…
Changes In Statutory Requirements for AGM and Filing of Annual Return with ACRA – Effect on 31 August 2018 Recently, the Accounting and Corporate Regulatory Authority (“ACRA”) of Singapore has announced new changes regarding the statutory requirements of Annual General Meetings (“AGM”) and filing of Annual Returns (“AR”) that will take effect on 31 August…
4 Ways You Can Sell Your Business in Singapore for the Best Price The fact that you are selling your business is a huge decision. Your business is something you have built up from the bottom- up. It is something that you’ve put your hard work and soul into. Now that the time has come…
A Step-By-Step Guide to Buying an Existing Business in Singapore If you’re looking for an alternative to starting a business in Singapore, one good option would be buying an existing one so you wouldn’t have to start it from scratch. How do you buy a new business in Singapore? The first step would be…
Follow These Steps for Starting Your Own Business in Singapore Easily The business world is a risky one. One wrong decision is all it takes to bring down everything you have worked for. Well, we are not scaring you. What we mean is that you should start your business in Singapore on the right foot…
Singapore New Rules For Precious Stones and Metals Dealers Singapore has awakened to the risk in precious stones and metals transaction in terms of money laundering and financing terrorism. Recently, the Ministry of Law of Singapore has added one new strategy in its anti-money laundering and counter the financing of terrorism (“AML/CFT”) regime – the…
Developing Web Application Software with SIT’s Future Minds 3E Accounting Came Together with SIT’s Bright Minds Through Industry Collaboration 3E Accounting and the students at Singapore Institute of Technology (SIT) worked on developing web application software in 2018. The collaboration was part of the students’ Integrative Team Project. It was successfully completed on 31 July…
