Singapore Foreign Reserves Gain at $8.5Billion The Monetary Authority of Singapore (MAS) recently announced in it’s annual report that the official foreign reserves (OFR) gained $8.5 bilion for the FY2017/18. According to the MAS, strengthening of the Singapore dollar against the US dollar provided a translated negative effect of $13.8 billion while investment gains contributed…
Customers Can PayNow at 3E Accounting On 14 August 2018, 3E Accounting implemented PayNow, a peer-to-peer funds transfer that allows faster and secured online transaction. 3E Accounting’s customers can perform transaction to 3E Accounting instantaneously with our Unique Entity Number (UEN) issued in Singapore. Similar to how PayNow works, customers do not need to know…
All Singapore Business Will Be Required to Have CorpPass from 1 September 2018 Beginning 1 September 2018, it will now be mandatory for all business in Singapore to transact online using a CorpPass Account. The Singapore government announced last year that CorpPass will be the only acceptable login method for businesses who wish to continue…
Changes In Statutory Requirements for AGM and Filing of Annual Return with ACRA – Effect on 31 August 2018 Recently, the Accounting and Corporate Regulatory Authority (“ACRA”) of Singapore has announced new changes regarding the statutory requirements of Annual General Meetings (“AGM”) and filing of Annual Returns (“AR”) that will take effect on 31 August…
4 Ways You Can Sell Your Business in Singapore for the Best Price The fact that you are selling your business is a huge decision. Your business is something you have built up from the bottom- up. It is something that you’ve put your hard work and soul into. Now that the time has come…
A Step-By-Step Guide to Buying an Existing Business in Singapore If you’re looking for an alternative to starting a business in Singapore, one good option would be buying an existing one so you wouldn’t have to start it from scratch. How do you buy a new business in Singapore? The first step would be…
Follow These Steps for Starting Your Own Business in Singapore Easily The business world is a risky one. One wrong decision is all it takes to bring down everything you have worked for. Well, we are not scaring you. What we mean is that you should start your business in Singapore on the right foot…
Singapore New Rules For Precious Stones and Metals Dealers Singapore has awakened to the risk in precious stones and metals transaction in terms of money laundering and financing terrorism. Recently, the Ministry of Law of Singapore has added one new strategy in its anti-money laundering and counter the financing of terrorism (“AML/CFT”) regime – the…
Developing Web Application Software with SIT’s Future Minds 3E Accounting Came Together with SIT’s Bright Minds Through Industry Collaboration 3E Accounting and the students at Singapore Institute of Technology (SIT) worked on developing web application software in 2018. The collaboration was part of the students’ Integrative Team Project. It was successfully completed on 31 July…
Monetary Authority of Singapore (MAS) Speeding up its Fight Against Money Laundering and Terrorism The Monetary Authority of Singapore (MAS) says regulators in Singapore are looking to increase the measures in place currently targeted at fighting financial crime. Money Laundering and terrorism financing have been a huge concern these days. MAS plans to make these…
CorpPass to Replace EASY in Singapore by 1 September 2018 From 1 September 2018, CorpPass will be replacing EASY as the new authorization system. All businesses will be required to use CorpPass as of the next Q3 for any transactions completed with IRAS (Inland Revenue Authority Singapore). This new system will also be used to…
Singapore’s Shipping Centre Comes Top in the World Rankings in 2018 For the past four years, Singapore shipping has been considered as one of the best shipping centres in the world, according to a study done by the Baltic Exchange and Xinhua. Once again in 2018, Singapore comes out on top in the rankings, performing…