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Business

How Budget 2019 Affects SMEs in Singapore

In one of the most anticipated announcement in parliament this month, Finance minister Heng Swee Keat delivered the Budget 2019 on 18 February. Most Singaporeans have digested the various policy announcements by now. In this article, we’ll touch on the Budget’s impact to local SMEs. Of note is the launch of Scale-up SG by Enterprise Singapore. This program will include …

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Temasek Holdings among other “big-ticket investors” to “lose millions of dollars of investments” following proptech startup Iwjw’s liquidation: China Money Network

Singapore’s government-owned Temasek Holdings is one of several blue-chip investors on the verge of losing “hundreds of millions of dollars” in the aftermath of Shanghai-based residential property tech startup Ai Wu Ji Wu (Iwjw)’s liquidation. Tech and venture capital markets data intelligence platform China Money Network reported on Wednesday (27 Feb) that the Chinese startup had “reportedly gone into liquidation …

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Rapid electricity tariff hikes: Protective measure for ‘gencos’ due to low demand and overcapacity?

The demand in Singapore’s electricity generation sector “has weakened” as “more industrial users pursue energy efficiency” such as solar power, in addition to a slowdown in Singapore’s economic growth, reported The Business Times in Apr last year. While Singapore’s power generation sector presently has a total capacity of 13,350 MW, the highest demand averaged only 7,000 MW up to Mar 2017. …

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“Re-position” Sentosa as “the new Bali” for tourists: City Developments Ltd Executive Chairman Kwek Leng Beng

Singapore should “re-position” Sentosa as “the new Bali” for tourists, said City Developments Ltd. Executive Chairman Kwek Leng Beng. Bloomberg reported Mr Kwek as saying on Thursday (21 Feb) that “Sentosa was touted when it first started for the rich and famous”, and that over time, Singapore had overlooked the island. “Her parents just forgot about this young lady … …

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High Court grants homegrown water treatment firm Hyflux leave to convene scheme meeting on 5 Apr

Following the High Court’s approval of troubled homegrown water treatment firm Hyflux’s application to convene a scheme meeting with its creditors, the company will be holding the meeting on 5 Apr as a part of its financial restructuring process. The application was made on 16 Feb jointly with three of Hyflux’s subsidiaries: Hydrochem, Hyflux Engineering and Hyflux Membrane Manufacturing. The meeting …

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Hyflux CEO grilled over being paid S$60mil in dividends while firm resorted to seeking protection from creditors

Troubled water treatment firm Hyflux’s Board of Directors, through its founder and executive chairperson Olivia Lum, were grilled by the Securities Investors Association Singapore (SIAS) over her apparent lack of participation in restructuring efforts despite receiving a payment of more than S$60 million in dividends from her 34 per cent ordinary shareholding in the firm. A statement by SIAS written on Friday …

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Three reasons your startup should hire an intern

by ValueChampion Do you think an intern could help you get your startup off the ground? Here are 3 reasons you should consider hiring an intern and a few others to make you think twice about this move. Growing a small business can be an arduous endeavor. Not only do business owners need to create, market and sell their product, they …

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CCCS issues Infringement Decision against the exchange of commercially sensitive information between competing hotels

An Infringement Decision (“ID”) against the owners or operators of Capri by Fraser Changi City Singapore, Crowne Plaza Changi Airport Hotel, Village Hotel Changi, and Village Hotel Katong, was issued for infringing section 34 of the Competition Act (Cap. 50B) by exchanging commercially sensitive information in connection with the provision of hotel room accommodation in Singapore to corporate customers. The hotels were …

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Singapore Ranked Eighth in Global Government EPayments Adoption: Visa Study

Singapore ranks eighth among 73 countries in the 2018 Government E-Payments Adoption Ranking (GEAR). GEAR is an Economist Intelligence Unit (EIU) global index and benchmarking study commissioned by Visa, which ranks governments by quantifying their e-payment capabilities based on various indicators such as policies and infrastructure. The EIU evaluates the extent to which major countries around the world have enabled …

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