Singapore’s Digital Economy Fuels GDP Growth: Almost Doubles in Five Years In a report by Singapore’s Infocomm Media Development Authority, Singapore’s digital economy significantly contributed to its GDP, exceeding 17% in 2022. This is up from 13% in 2017. Furthermore, the total value of this digital economy reached SGD 106 billion in 2022, a substantial…
Singapore, Malaysia, and Indonesia Come Together for Regional Supply Chain and Manufacturing Singapore is fortifying its regional bonds with Malaysia and Indonesia to harness the evolving global manufacturing landscape. Jacqueline Poh, the Managing Director of Singapore’s Economic Development Board (EDB), unveiled this strategic alliance during a prominent LSEG and Reuters Newsmaker event. The three countries…
The Ultimate Guide to Understanding Singapore’s GST for Your Company Are you a business owner in Singapore looking to understand the intricacies of Goods and Services Tax (GST) for your company? Look no further! Imagine this scenario: You’ve just started your business and suddenly find yourself swimming in a sea of tax regulations, confusing forms,…
Dear Valued Customers, Welcome to Our September Newsletter Welcome to the September edition of the 3E Accounting newsletter. In this edition, we are going to look at what has been happening across Singapore, Malaysia, Hong Kong, and Indonesia. Singapore Avoids Technical Recession with Sufficient Economic Growth Singapore’s economy grew slightly in the second quarter…
UK-Singapore Partnership: A Strategic Alliance for Prosperity and Security The Singapore government has sealed a pioneering partnership with the UK to bolster economic growth and enhance shared security. This monumental UK- Singapore partnership marks the United Kingdom’s first treaty since its departure from the European Union. The G20 Summit: A Venue for Collaboration British…
What Accounting Trends You Have to Keep Up With in 2023 The accounting field constantly evolves, driven by technological advancements and shifting business landscapes. As we delve into 2023, it is crucial to explore the emerging accounting trends shaping the profession and influencing financial reporting, decision-making, and overall business strategies. In this ever-changing landscape, accounting…
MAS Strengthening AML Framework for Single Family Offices in Singapore In a bid to close AML loopholes and standardize licensing exemption criteria for Single Family Offices (SFOs), the Monetary Authority of Singapore (MAS) has proposed a new AML framework. This move comes as SFOs witness strong growth in Singapore, prompting concerns about potential money laundering…
Dear Valued Customers, Welcome to the July Newsletter Several eventful things have been happening at our 3E Accounting offices across Asia. 3E Accounting International Achieves 113 Countries Global Milestone 3E Accounting International, headquartered in Singapore, has achieved a remarkable global milestone. It has joined the ranks of the Top 20 Global Accounting Networks. It…
MOM Unveils the New Singapore Workplace Fairness Legislation In a significant move to bolster workplace discrimination protection, Singapore’s Ministry of Manpower (MOM) has unveiled new details about forthcoming workplace fairness legislation addressing this pressing issue. The proposed legislation seeks to enhance worker protection, promote fairness, and reinforce equitable employment practices. Current Framework The Tripartite…
Singapore Avoids Technical Recession with Sufficient Economic Growth After growing slightly in the second quarter of this year, Singapore avoids technical recession by a narrow margin. The slowdown in the second quarter was because China’s global demand weakened, impacting trade flows. Seasonally, Southeast Asia’s economy grew 0.3% (quarter-on-quarter). This was followed by a 0.4 contraction…
Supply Chain Management Talents Growing Rapidly in Singapore Supply chain management talents are rapidly growing in Singapore, with 700 new jobs and training initiatives to be launched by 2025. The aim is to position Singapore as the supply chain management (SCM) hub manufacturers want to be. Professionals, managers, executives, and technicians (PMETs) will stand to…
What You Need to Know About AI and Data Analytics Talent Development Programme Singapore’s financial sector is embarking on an exciting journey of innovation and growth with the launch of the Artificial Intelligence and Data Analytics (AIDA) Talent Development Programme. As part of the National AI Programme in Finance, the AIDA will help to address…