The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) jointly conducted a cyber-themed business continuity exercise in November 2019 to strengthen the financial sector’s resilience to cyber-attacks and operational disruptions. Codenamed Exercise Raffles, the sixth edition of the exercise was conducted over two...
United Overseas Bank (UOB) announced on 5 May that it has already approved S$4 billion in loans under the Temporary Bridging Loan Programme (TBLP) since the government increased its risk-share of such loans to 90 per cent a month ago. The loans were extended...
The Singapore Business Federation (SBF) SME Committee (SMEC) submitted its recommendations for the Singapore Budget 2021 to our Government on 30 November 2020.Budget 2021 RecommendationsFor Budget 2021, the SBF SMEC has put forth six key recommendations to help companies gain access to necessary resources, build resilience to...
Razer Merchant Services has partnered with KK SUPER MART to enable Razer Cash for online Shopee purchases, in an effort to encourage e-commerce participation among the unbanked segments of Malaysians. Razer Cash is a payment option that e-commerce customers can utilize to make cash payments...
Sustainability is becoming increasingly important in the corporate world, as businesses seek to integrate sustainable practices into their core business models. However, more than half (56%) of employers do not have well-defined sustainability goals or strategies for their business, and only 14% are in...
This article was contributed by the Inland Revenue Authority of Singapore (IRAS) As the year comes to a close, companies are gearing up for the Corporate Income Tax (CIT) filing for the Year of Assessment (YA) 2023. In this article, the Inland Revenue Authority...
The Singapore Business Federation Young Business Leaders Network (SBF-YBLN) announced on 20 February 2020 the launch of the SBF-YBLN “Helping Our Promising Enterprises” (HOPE) Fund to support local businesses during this challenging period. In partnership with Goldbell Evolution Network (GEN), a private debt investment platform, a seed...
The COVID-19 outbreak has prompted Singaporeans to embrace more digital services when taking charge of their finances - and this is a shift that the majority believe will stick post-pandemic, a survey by personal finance website SingSaver found. Conducted in June, the survey analysed...
The unprecedented COVID-19 pandemic has posed severe challenges for the global economy and supply chains have been in the eye of the storm. Amid heightened geopolitical tensions, some countries are considering moving supply chains out of China. However, as a recent research study by...
60 per cent of small- and medium-sized enterprises (SMEs) in Singapore believe in the importance of incorporating sustainable practices in their businesses, according to the UOB SME Outlook Study 2022. They said having sustainability core to their business will help to improve the company’s reputation...