Alibaba launches Tmall retail site Chinese e-commerce giant Alibaba Group Holding Ltd is now targeting the sizeable 500 million population from South-East Asia, namely, Singapore, Malaysia, Hong Kong and Taiwan With product offerings, promotions and logistics, these countries are experiencing rapid growth in terms of new users. Following the launch of the new service, Tmall…
Bazaar operators faces 19 charges for hiring foreigners without valid Work Passes The Ministry of Manpower (MOM) charged a 40-year-old Singaporean man, Sao Wei Loon (Sao), in the State Courts today for hiring 19 foreigners without valid work passes to work at pasar malams (night markets) in Singapore last year. If convicted, he faces a…
Report on Wage Practices 2016 Release by MOM The proportion of profitable firms declined from 79% in 2015 to 76% in 2016. As the majority of firms had put in place a wage system that gave flexibility to adjust wages according to business conditions, wage increase continued to moderate. The proportion of employees who received…
How Economic Growth Impact Companies in Singapore Strong first quarter growth in Singapore driven by improved global demand has led private-sector economists to predict that it is set to grow at a much faster pace for the rest of this year. Singapore’s Growth From January till March this year, Singapore’s gross domestic product (GDP)…
Deadline for Share Warrant Holders SINGAPORE: The Ministry of Finance recently issued a statement reminding all bearers of share warrants to surrender the warrants for cancellation and have their names entered in the register of members of the issuing companies before 1 July 2017. The ministry cautioned that outstanding warrants that are not surrendered by…
Managing Director of 3E Accounting Pte Ltd, Lawrence Chai, was extremely honoured to be invited as one of the speaker for HR Summit & Expo Asia on 4 May 2017. The HR Summit & Expo Asia is Asia’s largest workforce management show bringing together the world’s most influential business thinkers, international solutions providers and top HR…
Dear Reader, Welcome to our E-Newsletter May 2017 As we are aware, the world economy is becoming integrated through trade at an unprecedented pace. The urge to be the best help evolve with the ever-changing environment, keep up with advance techniques, and be future-ready. Last month, we have several marvellous achievements. 3E International Network We…
Top Spot as the Maritime Capital of the World Singapore does it again Singapore has successfully retained the top spot as the maritime capital of the world for the third year running. According to the third edition of Menon’s Leading Maritime Capitals of the World Report, Singapore was ranked tops in the following three…
How Investing in Latin America Can Add Value To Your Companies Times are changing in the world of international investment. Some of the best business opportunities are now available in Latin America (LATAM). Some countries and sectors in particular are leading the way on an international scale. These include Colombia which produces the highest quantity…
Income Received in Singapore from Abroad Under Section 10(25) of the Income Tax Act, income from outside Singapore is considered received in Singapore when it is: a. remitted to, transmitted or brought into Singapore; b. used to pay off any debt incurred in respect of a trade or business carried on in Singapore; or c.…
Doing Business in Asia – Why Investors Have Their Sights Set On Asia’s Growing Economy Asia is home to some of the largest markets in the world, one of them being China, one of the biggest economic powerhouses in the world. Asia has experienced tremendous economic growth over the years, mainly due to the size…
Doing Business in Indonesia The Potential Some countries in Southeast Asia have been performing healthy fundamentals. They are Indonesia, Singapore, and Thailand. As one of the region’s best performers, Indonesia has reported low debt levels, positive credit impulse, and strong domestic consumption. Five Prospective Sectors in Indonesia Household consumption, which becomes one of…
