Dear Valued Customers,
Singapore Government Budget Pledge Exceeds $100 Billion to Help Economy and Create Jobs
Government Budget Pledge Exceeds $100 Billion
The Finance Minister announced an additional $8 billion to support workers, businesses and protect livelihoods from the COVID-19 pandemic. This brings the total Budget pledge from the Government to exceed $100 billion. One key area is the Jobs Support Scheme (JSS) which was designed to save jobs and help businesses pay the wages of 1.9 million workers. The JSS has been extended with quantum from 10% to 50% through to March 2021 to help workers and businesses.
3E Accounting in Virtual Dialogue with Manpower Minister Josephine Teo
To help businesses, industry outreach efforts focused on how companies can foster resilient and sustainable businesses amidst COVID-19. 3E Accounting took part in the Workforce Advancement Federation (WAF) Virtual Seminar & Dialogue with Manpower Minister Josephine Teo on 11 August 2020. Minister Teo explained how businesses can continue building human capital and retaining senior workers through the SGUnited Jobs and Skills Initiatives. Businesses can boost their resiliency through the adoption of technology. From my perspective, the benefits of digitalization coupled with the Government’s support would enable businesses to emerge stronger post COVID-19.
Public Consultation on Proposed Amendments to the Companies Act – 3E Accounting on Expert Panel
The Accounting and Corporate Regulatory Authority (ACRA) recently launched the Public Consultation on Proposed Amendments to the Companies Act. To support the public consultation, the Chartered Secretaries Institute of Singapore (CSIS) conducted a webinar to discuss the recommendations to the proposed amendments. I was invited to be on the panel. The key recommendations discussed include facilitation to digitalization, changes to types of companies and refinement financial reporting criteria, review of decriminalization of directors’ offences, and changes to form 45 and model constitution.
3E Accounting Pledges $25,000 to Support President’s Challenge 2020
I believe that success is defined by how we care for those in need within our communities. During this challenging time, 3E Accounting is pledging $25,000 to the President’s Challenge 2020. As we believe that our success should support those in need, for every incorporation package delivered, 3E Accounting will donate $50 to this campaign. I strongly encourage our stakeholders, clients and industry peers to support this meaningful initiative.
Join 3E Accounting at Capbridge Wealth Management Webinar
Join me at the Capbridge Wealth Management webinar on 16 September 2020. The webinar’s theme will focus on Navigating the New Norm: Strengthening Cash Flow and Access to Capital. I will explain the importance of forecasting and optimizing cash flows. Join me to understand the future for capital access and the benefits of SME direct listing, private listing and exits. Sign up here.
Until we catch up in our next newsletter, stay safe everyone!
Thank you.
Lawrence Chai
Founder, 3E Accounting Group
Read More in our E-Newsletter September 2020.
