Singapore Food and Beverage Service(12,000 Hawker Stalls) To Have Unified Payment System Singapore’s Nets system will be bringing cashless payments to 12,000 hawker stalls, canteens and coffee shops. In an attempt to unify what is currently a fragmented e-payment setting, Nets is the first “master acquirer” which will bring this system to the designated vendors…
NRIC Data to Get More Protection with Stricter Rules Singapore’s National Registration Identity Card (NRIC) is about to get a boost in protection from 1 September 2019. New laws in rules in place are set to make it harder to make copies of the NRIC, collect, use or disclose it. These rules are set to…
An Overview of Singapore’s Labour Market 2018 What the Second Quarter of 2018 Looks Like in Singapore’s Labour Market Singapore has always been a strong performing nation, and 2018 is no different. The second quarter of 2018’s preliminary report of the labour market should positive growth in employment, despite the fact that unemployment rates…
Singapore Food Agency to Replace AVA The Singapore Food Agency (SFA) will be formed on 1 April next year and it will take over any food-related work which is currently being conducted by the Agri-Food and Veterinary Authority of Singapore (AVA). The SFA is set to oversee matters related to food safety and security in…
PayNow Corporate Is Finally in Singapore Businesses in Singapore will now be able to instantly receive and make payments with their Unique Entity Numbers (UEN), now that the PayNow Corporate e-payment services have finally been launched. As of 13 August 2018, PayNow Corporate is made available to all businesses, government agencies and corporate bodies whom…
Rule Changes Make It Easier for Singapore SMEs to Bid on Public Projects Small business in Singapore may soon be able to start bidding for government projects with the new changes to the rules in place which make it much easier for small and medium enterprises (SMEs) to get in on the bidding game. SMEs…
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…
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…
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…
