Dear Valued Clients,
Welcome to our E-Newsletter July 2018
We hope this email finds you well!
As we are entering another quarter of the year 2018, we can be pleased with the many achievements Singapore has achieved, and as we move forward, we can rest assured that the strong economic performance in the past that has set the bright direction ahead.
The Better-than-expected Economic Performance in Singapore
Singapore’s economy outlook maintains positive and economic growth remains robust. Based on previous months’ performance, we can see that our service and manufacturing sectors are the main drivers of the growth. Despite the political uncertainties and global trade tensions, Singapore’s economy manages to keep up its growth momentum with a better-than-expected performance in the first quarter due to robust investment activities in the country as well as the improved global demand.
The country’s gross domestic product (GDP) marked a 4.4 % growth in the first quarter of 2018 where the 4.4 % growth exceeded the expected estimation of 4.3%. The economy of Singapore has occupied an exceed expectation performance and achieved a high level of competitiveness in many sectors thanks to the drivers behind, which include the manufacturing sector (which recorded a 9.8% growth), the finance and insurance sector, as well as the wholesale trade sector. The robust economic growth in the first quarter has led to a positive economic outlook – we can expect a 2.5% -3.5% of full-year growth.
Our Latest Expansion Milestone in 3E International Network
3E Accounting International Network seeks to achieve its objectives through the creation of effective partnerships with global strategic partners. Last month, we expanded our strategic alliance to Belize and Ecuador by our network existing member BIZLATIN HUB. The new additions of member countries in our global network have further broadened 3E International Network’s connectivity that could provide greater benefits for clients across the globe. The recent expansion is not a full stop in our global network. We aim to continue our efforts in pursuing a strategic approach to diversify our business portfolio, to expand our international footprints, as well as to solidify our global presence position in the international market.
Looking ahead, we are positive that Singaporean economy will continue its good performance despite the uncertainties in the global economic climate. For 3E Accounting Singapore, we are strengthening and sharpening our strategies to be the leading service provider in the country, and to be the unstoppable industry player that brings the age of opportunity to all our clients. Our driving force has been our shareholders. They stood by us as we expanded into international markets. We are thankful for all your continuous support and trust that you place in us.
Thank you.
Lawrence Chai
Managing Director
Read More in our E-Newsletter July 2018.
