GfK Asia, the world’s leading market research firm recently conducted a survey in Pan Asia and conveyed its result at the 18th Hong Kong Optical Fair with Hong Kong Trade Development Council as the host, saying the key industries in Asia, particularly Singapore, Hong Kong, Malaysia, South Korea, Taiwan, and Thailand are optimist that the industry will continue to develop or surpass this year’s outstanding performance come year 2011.
In the findings, GfK Asia’s Regional Account Manager, Mr. Anthony Tan confessed, “with the global economy now in full swing to a recovery mode, it is not without anticipation that the optical industry key players are sanguine about the year ahead.”
“Besides the optical, other industries have developed as well, and all their contribution will propel the economy to greater heights in the coming years.”
Attesting to that is Singapore’s IPO gold rush, in which, walk-in clients desire to engage their money for a piece of Initial Public Offering gold rush from Mapletree Industrial Trust and Global Logistics Properties, among others.
Even in CIMB Securities, new trading accounts have been opened, providing a double-digit growth for this sector. ‘Since September, there are good indicators of growth,” declared Malcolm Koo, CIMB Securities’ Sales and Marketing Head.
There could be 2 reasons for this.
First, while some of them are new enthusiasts of stock market, many of them are veteran players who revived their faith in stocks.
Albert Fong, a remisier at OCBC Securities shared, “we have witnessed investors who have not been trading for decades coming back due to the IPOs.”
The second reason they are investing is the almost zero interest rate offered by the banks.
Meanwhile, on November 4, 2010, the International Finance Corporation released its latest survey on 183 economies on having the easiest place to do business for 2011. The Ease of Doing Business 2011 awarded the first place to Singapore for having the friendliest environment for entrepreneurs.
In that survey, Singapore ranked second across the globe as the city having the best investment potential for 16 consecutive years.
Singapore’s secret is in its business policy.
“In Singapore, company registration is an easy task, says a representative of Rikvin, the city-state’s leading firm in providing corporate solutions to entrepreneurs in Singapore and Asia Pacific, “nonetheless, it must be spearheaded by a company like us.”
Singapore does not allow foreign individuals to engage personally in registering their business as part of its transparency and protection system.
“There are conditions that foreigners must satisfy before they can commence with their business operations,” continues Rikvin’s representative, “among these are the appointment of a local resident director or local manager.”
Nevertheless, should they wish to possess that coveted position, they may apply for a working visa in Singapore.
“An Employment Pass, Entrepreneur Pass, or Dependent Pass suffice for a foreigner to be appointed as the resident director or manager,” elaborate Rikvin.
Singaporean authorities are empathetic that at times, foreign investors may find it unnecessarily difficult to find a qualified individual to claim the resident position.
“Our company offers the service of providing a nominee director for the purpose of statutory compliance,” Rikvin further elaborated on this matter.
Moving forward, Singapore has relatively the lowest tax rates both for personal and corporate tax. In some circumstances and depending on the nature of the business, the authorities in Singapore grant tax incentives and exemptions.
Among the exemptions is the zero tax for the first 3 years of a foreign business having accrued S$100,000.
Singapore has been considered as among the economic ‘tigers’ in the world. Its economy is mainly fueled by its excellent manufacturing and financial services.
Amidst the sturdy regional and international competition, Singapore remains to be unyielding. It weathered a few regional economic crises such as the 1997 Asian market downfall and the 2009 world banking crises.
For many years, Rikvin provides company registration services such as company registration, company incorporation, company setup whether subsidiary, branch or representative office, accounting and secretarial, processing of working visas, and more.
Since 1998, Rikvin consultancy has been providing highly professional company incorporation services, both in attractive standard packages as well as customised services. Online incorporation being a hallmark service, other services of Rikvin include Singapore Offshore Incorporation, EntrePass, Singapore Employment Pass, Personalised work Pass application, GST Registration, Accounting Services, Tax Planning & Consulting, and Business Plan Drafting.
Rikvin Pte Ltd
http://www.rikvin.com/
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email: [email protected]
