Better Protection Under Amendments To Employment Act in Singapore The Employment Act in Singapore will soon be amended to remove the S$4,500 salary cap providing protection to about 430,000 more professionals, managers and executives (PMEs). Manpower Minister Lim Swee Say said the only exceptions are public servants, domestic workers and seafarers who are covered separately,…
Drop in Singapore’s Headline Inflation Rate The Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) recently revealed that Singapore’s headline inflation rate fell to 0 per cent in January this year from 0.4 per cent in December. According to a statement, the Consumer Price Index (CPI)’s year-on-year drop to…
Accounting and Corporate Regulatory Authority (ACRA) Takes Company Director To Court For Breaches Of The Companies Act A company director was recently fined $10,000 by the State Courts for lodging false information under Section 401(2A)(b) of the Companies Act. Amiira Samsuri, whose a director of Persian Garden Restaurant Pte Ltd, had earlier authorised a bank…
Singapore – Malaysia Trade Link Set to Reap Benefits The proposed link between the Singapore and Malaysia stock markets has the potential to increase securities revenue for the Singapore Exchange (SGX) and likely generate interest, particularly among retail investors. While it is too early to calculate any benefits from, DBS Group Research, said…
Workplace Injuries: Two Employers Fined Two employers were fined in November last year in the State Courts for failing to insure and maintain work injury compensation insurance for their employees. Valiancy Enterprise LLP (‘Valiancy’) and Suriakumar Ridgeway S/O Ramaiah (‘Suriakumar’), the sole proprietor of Ridgeway Marine & Construction, were also fined for failing to pay…
New look for ACRA’s Bizfile+ The Singapore Accounting and Corporate Regulatory Authority (ACRA) recently introduced a new online filing and information retrieval system called BizFile+. The new system allows the public to access a suite of over 400 electronic services ranging from the submission of statutory documents, to retrieval and purchases of information pertaining to business entities…