FCI Ppt Singapore

8/3/2019 FCI Ppt Singapore

http://slidepdf.com/reader/full/fci-ppt-singapore 1/34

SINGAPORE CALLING

SINGAPORE CALLING



M AP OF SINGAPORE



SINGAPORE Seceded from Malaysia in

1965.

Entire country is 270 sq.

miles.

Population is 4.5 million;77% Chinese, 14% Malay& 8% Indian.

42% Buddhist.

Highest standard of living in Asia with a percapita GDP of $28,100,11th highest in world.



Singapore ï History

An island once known as Temasek held a legend that was to

change its name forever. According to a Malay

legend, there was once a Sumatran prince that visited this little

fishing island. During this visit, he

encountered a strange and amazing animal. He later found outthat the beast was called a lion. He was

encouraged by an omen that stated he would find a city upon

sighting the beast. Thus the name Singapura or

Lion City was found. "Singa" meaning Lion and "Pura" meaning

city.



In late l818, Lord Hastings, Governor-

General of India, gave tacit approval to

Sir Stamford Raffles, Lieutenant-

Governor of Bencoolen, to establish a

trading station at the southern tip of theMalay Peninsula. On 29 January 1819,

Raffles landed on the island of Singapore

after having surveyed other nearby

islands. The next day, he concluded a

preliminary treaty with Temenggong

Abdu'r Rahman to set up a trading posthere. On 6 February 1819, a formal

treaty was concluded with Sultan

Hussein of Johor and the Temenggong,

the de jure and defacto rulers of

Singapore respectively.



In 1824 the British purchased Singapore

Island and by 1825 the city of Singapore

had become a major port with tradeexceeding that of Malaya's Malacca and

Penang combined. In 1826 Singapore

Penang and Malacca were combined as

the Straits Settlements to form an

outlying residency of the British East

IndiaCompany; in 1867 the Straits

Settlements were made a British Crown

Colony an arrangement that continued

until 1946.



SIR STAMFORD R AFFLES WITH BRITISH

EAST INDIA OTHER MEMBERS



The opening of the Suez Canal in 1869

and the advent of steamships launched

an era of prosperity for

Singapore as transit trade expandedthroughout Southeast Asia. In the 20th

century the automobile industry's

demand for rubber from Southeast Asia

and the packaging industry's need for tin

helped make Singapore one

of the world's major ports.



In 1946 the Straits Settlements was

dissolved; Penang and Malacca became

part of the Malayan Union and

Singapore became a separate British

Crown Colony. In 1959 Singapore

became selfïgoverning and in 1963 it

joined the newly independent Federation

of Malaya Sabah and Sarawak (the latter

two former British Borneo

territories) to form Malaysia.

After a period of friction between

Singapore and the central government in

Kuala Lumpur Singapore

separated from Malaysia on August 9

1965 and became an independent

republic.



SINGAPORE R ANKINGS

2nd most competitive globally, after the UnitedStates

2nd most globalised nation in the world

Best business environment in Asia-Pacific 2nd most profitable place for investors

2nd in personal safety among world's top 50 cities

Least corrupt country in Asia

Best quality of life in Asia

2nd most network ready country

5th best offshore location globally



V IBRANT LIFESTYLE

One of Asia's safest

city, Singapore

offers residents andvisitors a growing

palette of

entertainment,

cultural andlifestyle options.



LEADING FINANCIAL CENTRE Singapore has been a key

regional financial centre with

more than 500 local and

foreign financial institutions

offering a wide range of financial products and

services.

Funding and liquidity needs

are easily met by the localequity and debt capital

markets and the Asian dollar

market required by the

business.



IMMIGRATION IN SINGAPORE

ENTERPRENEUR PASS - ENTREPASS

Singapore welcomes entrepreneurs with theintroduction of the Entre Pass scheme, focusingon good business plans over traditional criteria

such as educational qualifications and salary.

The scheme is designed to allow global value-creating entrepreneurs and innovators to come toSingapore to start their business ventures, theimplementation of the scheme is significant andtimely as Singapore establishes its position as aregional business hub.



¶S· PASS

¶S· Pass is a new category of work pass. It isintended to meet industries need for middlelevel skilled manpower (especially workers

& technicians), which is a gap in thecurrent frame work.





Overseas Companies established in Singapore

2002 2004

Indian Companies 1184 1441

China Companies 1028 1160

TATA Consultancy regional head quarters is

at Singapore and it covers far east countriesincluding Australia, Japan, China and etc.

TATA group which has set up Globalheadquarters in Singapore has acquired US

based TYCO global network for US $130Million, the leading sub-marine cablesystems through (VSNL)

During June 2004 VSNL has set up itsInternational head quarters in Singapore tomanage the global business.



Scandent Group, which

provides It services and

business process outsourcing,

run by Mr. Ramesh Vangal

(CEO) was awarded IHQstatus by EDB. Scandent

made Singapore its strategic

base for global operation.



AD V ANTAGES OF FTA·S IN SINGAPORE

FREE TRADE AGGREMENT







Signed Agreements

USA, Japan, Australia, New Zealand,European Free Trade Association and

Hashemite Kingdom Of Jordan

On going talks

ASEAN & People Republic of China,

Bahrain, Canada, Egypt, India (CECA),

Korea, Mexico, Pacific Three, Panama, Peru

and etc



AD V ANTAGES OF INCORPORATING A COMPANY IN

SINGAPORE

y Exemptions from audit ² Small Exempt PrivateCompanies

Dormant companies and exempt private companieswith revenues not exceeding $2.5m would beexempted from the audit requirement. This iseffective for financial year-end beginning on or after15 May 2003.

The prescribed amount is increased to $5m forfinancial year starting on or after 1 June 2004.

y Raising of capital by Private CompaniesSecurities and Futures Act (CAP 289) allows private

companies to raise capital through private andexempted offerings without the need to convert topublic companies, so long as they fulfill the disclosurerequirements.



One Director / Shareholder Companies

All companies can be incorporated with only one director andone shareholder.

Sole director must be locally resident in Singapore.

Sole shareholder can be an individual or a corporate entity.

All the companies need to appoint a Company Secretary andDirector and the company secretary cannot be the same person,if it is a one director company.

Full tax Exemption Scheme for New Companies

Full tax exemption on normal Cl (excluding Singapore frankeddividends) up to $100,000, for any of company·s first 3 consecutive Y/Aswhich fall within Y/A 2005 to Y/A 2009.

Online filing

Singapore offers the facility to file all the corporate documentsand returns online with Accounting & Company Regulatory

Authority (formerly known as Registry of Companies and Businesses)



SETTING UP OF LIMITED LIABILITY

P ARTNERSHIP (LLP) IN SINGAPORE

An LLP is a business structure that offers all its members

some form of limited liability while retaining the flexibility

of operating the LLP as a traditional partnership.

The LLP is a separate legal entity from its members; that

is, it can own property in its name and remain in effectdespite changes in its partners.

An LLP partner does not assume personal liability for the

debts or obligations incurred by the partnership or other

partners.

If the LLP becomes insolvent, his liability is capped to theamount, which he has agreed to contribute to the LLP.

However, the partner will assume unlimited personal

liability when he knowingly causes the LLP to commit a

tortious act.



Individual corporation can become

partners.

Each partner is an agent

Conversion from firm to LLP is possible,

conversion from company to LLP is also

possible.

Name, nature of business, registered

office, compliance officer, manager are

required to register an LLP.



TAXATION IN SINGAPORE

y Tax for Companies at 20% from financial year 2004, assessment year2005

y Full tax Exemption Scheme for New Companies YA 2005-2009 forfirst three consecutive years falling in that period.

y Tax Exemption on Dividends, Branch Profits & Service Income

y Royalty payments made to non residents are taxed 10% based on DTA

y

Partial Tax Exemption, company·s profit up to the first 100,000 aretaxed as follows:

First 10,000 profit 75% is exempted

Second 90,000 profit 50% is exempted

y International & Regional Head Quarters scheme are administered byEDB and these companies can enjoy concessionary income tax ratesbetween 5 to 10%

DTA Singapore has signed DTA·s with 50 countries and limited DTA·s with

7 countries and agreements to be ratified with 3 countries.

DTA was signed with India in January 1994





2011 MARKETING TRENDS REPORT ²

SINGAPORE

Respondents A total of 1,613 marketers in Singapore

took part in the survey to share their

industry knowledge, providing anaccurate picture of trends to come from

marketers and their behaviours, as well

as the most preferred agencies in various

marketing disciplines. The large sample

size achieved is a testament to the

interest marketers have expressed in thestudy and the veracity of the data.



INDUSTRY Clock-wise:-

Arts & Entertainment, 2%

Business Products & Services, 13%

Consumer Products, 11%

Education & Training, 6%

Engineering/Manufacturing, 6%

Financial Services, 6%Government & Personal Services, 5%

IT & Telecoms, 9%

Media, 17%

Medical & Healthcare, 3%

Motor Vehicles, 2%Property & Construction, 3%

Transportation, 4%

Travel Tourism & Retail, 12%

Others, 2%



COMPANY STAFF SIZE IN SINGAPORE

Less than

5050-100

101-250

251-500

501-1,000

Over 1,000

37%

12% 15%

7%

12%

17%



Area of Responsibility

44% 56%Regional/ International

markets

Singapore market only

The majority of respondents (56%) had regional &

international responsibilities in their profession,

which is not surprising given that Singapore is apreferred headquarters for MNCs operating in the

region. The remaining 44% of respondents had

responsibilities within the local market only.



SUCCESS STORIES

Massive vote of confidence in Singapore'sfuture

The heart work of industrial developmentTurning her hunch into a multi-million

success storyWhy Seagate continues to invest in

SingaporeWin-win way to TAP young talentThrough good times and bad times ACCS rides outsourcing wave Innovation in NanoScienceConnecting with Singapore in every wayMerck's success formula



USEFUL LINKS

www.business.gov.sgwww.acra.gov.sgwww.iras.gov.sgwww.mti.gov.sg

www.mof.gov.sgwww.moe.gov.sgwww.mom.gov.sgwww.edb.gov.sg

www.mda.gov.sgwww.psb.gov.sgwww.ida.gov.sg



FCI Ppt Singapore

Documents