The COVID-19 crisis causes considerable risk for businesses and outlines the need for strong leadership. To help the companies overcome both economic and health challenges, company boards and business owners play a critical oversight role. Here is how companies in Singapore can evolve beyond the pandemic. Adopt a Stakeholder-Centric Approach The best way to refine […]

The Covid-19 pandemic has severely impacted Singapore’s economy. According to the Monetary Authority of Singapore, the economy will enter into recession this year. During the first quarter, Singapore’s economy contracted by 2.2 per cent year-on-year, its worst contraction since the 2009 global financial crisis. Job losses and bankruptcy rates have skyrocketed. In March, four hundred sixty two […]

Temporary closure of local businesses amid the Covid-19 pandemic has resulted in steep financial losses. Maybank Kim Eng senior economist Chua Hak Bin predicted a rise in business failures in the coming quarters. Faced with supply chain upheavals and revenue declines, SMEs are forced to shut down. Although permanent closure is a typical option for […]

Any Singapore employer that recognizes the significant roles of his/her workers within the organization would willingly provide some effective remuneration packages that meet employees’ needs and are competitive with what other companies offer. This is manifested in an employment contract, in accordance to the which is the city-state’s main labour law. Nevertheless, those companies that […]

CorpPass, a one-stop authentication and authorization service, is considered as the exclusive login method that corporate entities use when making online transactions with various government agencies now. As announced by the Singapore Government in Year 2018, CorpPass has already replaced other means such as SingPass and Easy (E-Services Authorisation System) since 1 September 2018. What […]

In Singapore Financial Reporting Standards (SFRS), it is used interchangeably with the term balance sheet. Simply put, the Statement of Financial Position states the company’s assets and liabilities – what it owns and owes. There is a simple equation that serves as a basic guide for preparing the Statement of Financial Position: Assets = Equity […]