Restructuring Charities (Part 1)

TAKEAWAYS In the recent Singapore conversation on building a new social compact, there was emphasis on the need for a mindset shift which extends beyond people, towards government and communities doing more to help. For this to take place, charities need to be a key pillar of support. From the conversation, key changes, such as […]

Job Security In A Changing World

TAKEAWAYS The advent of technology has brought forth both opportunities and challenges, creating a widespread sense of uncertainty regarding the stability of traditional job roles. It comes as no surprise that job security has become a paramount concern. Which roles will be phased out and which roles will not? As automation and artificial intelligence (AI) […]

Renewed Focus On Integrated Reporting

TAKEAWAYS The IFRS Foundation released an announcement on 25 May 2022 entitled “Integrated Reporting – Articulating a future path”, and included the following joint statement by Andreas Barckow, Chair of the International Accounting Standards Board (IASB), and Emmanuel Faber, Chair of the International Sustainability Standards Board (ISSB), “We are convinced that the Integrated Reporting Framework […]

Whats The Deal With Withholding Tax

TAKEAWAYS “Is software payment regarded as royalty for withholding tax purposes?” “How do you determine whether the payee is a Singapore resident or non-Singapore resident?” “Is there a difference between making a payment to a foreign company and the Singapore branch of the foreign company?” These were some of the withholding tax issues that were […]

Balancing Performance and Ethics

TAKEAWAYS Proper and prosper – the ultimate corporate governance dream. Corporate governance and ethics play a fundamental role in driving the responsible actions of an organisation and its leaders and employees. It may be easy to be proper when you prosper, but what about when things get rough? Do ethics and governance take a backseat […]

FRS 117 vs MAS’ Risk-Based Capital 2 (Part 7)

TAKEAWAYS A reinsurance contract is defined in FRS 117 Insurance Contracts (FRS 117) as an insurance contract issued by one entity (the reinsurer) to compensate another entity (the cedant) for claims arising from one or more insurance contracts (underlying insurance contracts) issued by that other entity. Reinsurance contracts may be grouped into facultative and treaty, and then […]

Challenges And Pitfalls Facing SMEs And Startups

TAKEAWAYS In “Strategic Planning And Balance Scorecard, Part 1”, published in the June issue of this journal, we discussed what strategic planning is and introduced the Balance Scorecard (BSC) for small and medium-sized enterprises (SMEs) and startups. In “Strategic Planning And Balance Scorecard, Part 2”, published in August, we discussed how companies can implement a […]

FSIE In Singapore and Hong Kong

TAKEAWAYS While Singapore and Hong Kong’s tax regimes are both attractive to investors, there are fundamental differences between the two regimes, such as how foreign-sourced income is treated for tax purposes. Unlike Singapore which generally imposes income tax on all foreign-sourced income received in Singapore unless specifically exempt, Hong Kong has historically adopted a territorial […]

Sustainability for the Healthcare Sector

TAKEAWAYS There is a paradox that healthcare products and services benefit people, yet the provision of healthcare services inevitably emits greenhouse gases (GHG). The delivery of healthcare services directly and indirectly contributes to GHG emissions through energy consumption as well as value chain activities from product manufacturing to transportation and distribution, water usage and end-of-life […]

At The Inflection Point of Sustainability Reporting

TAKEAWAYS The need for immediate and drastic climate action grows ever more urgent. As a grim reminder of what is at stake, the month of July 2023 saw a spate of deadly heatwaves and wildfires across Europe, which are among other extreme weather events that experts have attributed to climate change. The Paris Agreement was […]