Singapore Economic News

[RachelProp]

Singapore prepares to ease circuit breaker measures, but PM Lee cautions the pandemic is 'a marathon, not a sprint'

https://www.theedgesingapore.com/news/co...rathon-not

[RachelProp]

Hyflux and directors under joint probe by CAD, MAS and ACRA

https://www.theedgesingapore.com/news/co...s-and-acra

[RachelProp]

Singtel issues $1.05 bil 10-year notes with 1.875% p.a. coupon

https://www.theedgesingapore.com/news/te...-pa-coupon

[RachelProp]

Oxley Holdings disposes entire Galliard stake for $52.7 mil

https://www.theedgesingapore.com/news/ma...ke-527-mil

[dreamybear]

I do think it is necessary for us to draw on our reserves to help Singaporeans during this black swan event. At the same time, I do wonder what's next after the dust has settled. What are the options available ?

Our population is now 61%(3.5/5.7) Singaporean citizens* and old-age support ratio will decrease to 2.7 in 2030**.

Meanwhile, in petrol category, Mercedes new registrations superceeds even Jap/Korean brands so far in 2020 !***

This is a complicated world indeed !

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Singapore's financial position to be 'a lot weaker' in coming years, says DPM Heng [premium article]
https://www.businesstimes.com.sg/governm...s-dpm-heng
"WITH almost S$100 billion set aside to combat Covid-19, Singapore’s financial position will be “a lot weaker” in the coming years, and the government would need to find ways to manage this “difficult financial situation”, said Deputy Prime Minister Heng Swee Keat in an interview with Channel..."

Fortitude Budget: Singapore's fiscal strategy keeps longer-term needs in view
https://www.businesstimes.com.sg/governm...ds-in-view

*https://www.singstat.gov.sg/find-data/search-by-theme/population/population-and-population-structure/latest-data

**https://www.moh.gov.sg/news-highlights/details/moh-leads-review-to-strengthen-caregiver-support-for-seniors

***https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/M03-Car_Regn_by_make.pdf

[Ben]

Two subtle messages that our govt has been telling us lately, 1) Govt will not be able to save every job, but will look after every worker, and 2) Cannot expect that every company will not go down.

While the two messages are fair, logical and expected, but the need to tell us loudly, and by PM and DPM themselves, tells me that there is a deeper meaning to these messages. I reckon that the govt probably think that “enough” has been done by them thus far, in terms of all the measures and reliefs that has been pump in. Moving forward, any relief measures will be more calibrated and targeted (some jobs and companies will not be saved, or less effort put in to save them) (Spore lay-off may hit 100,000 in 2020 as reported in the news), and also have to be co-share between the govt and the private sector (landlords will share 50% of rental waiver for commercial tenants).

Thanks to the conservative managing of our national past reserves, which we are able to draw on now to alleviate the pain. Likewise, every individual should also be prudent in managing their own financials, so that we can also draw on our own past reserves in difficult times like this. Depending everything on govt support, while helpful, will never be sufficient.

[tanjm]

I do think it is necessary for us to draw on our reserves to help Singaporeans during this black swan event. At the same time, I do wonder what's next after the dust has settled. What are the options available ?

Our population is now 61%(3.5/5.7) Singaporean citizens* and old-age support ratio will decrease to 2.7 in 2030**.

Meanwhile, in petrol category, Mercedes new registrations superceeds even Jap/Korean brands so far in 2020 !***

This is a complicated world indeed !

========

Singapore's financial position to be 'a lot weaker' in coming years, says DPM Heng [premium article]
https://www.businesstimes.com.sg/governm...s-dpm-heng
"WITH almost S$100 billion set aside to combat Covid-19, Singapore’s financial position will be “a lot weaker” in the coming years, and the government would need to find ways to manage this “difficult financial situation”, said Deputy Prime Minister Heng Swee Keat in an interview with Channel..."

Fortitude Budget: Singapore's fiscal strategy keeps longer-term needs in view
https://www.businesstimes.com.sg/governm...ds-in-view

*https://www.singstat.gov.sg/find-data/search-by-theme/population/population-and-population-structure/latest-data

**https://www.moh.gov.sg/news-highlights/details/moh-leads-review-to-strengthen-caregiver-support-for-seniors

***https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/M03-Car_Regn_by_make.pdf

I think the furore over low wage FW is a bit over the top. We certainly do want to make do with less FW in these positions. But in the mean time, its not wrong to provide them with a good living and help them with their families at home through jobs. 

Japan shows that with even with a stagnant overall economy, it is still possible to provide jobs for all who want it. Their unemployment rate is low. And their GDP per capita is still modestly rising.

What perhaps raises the most tensions is with locals who expect their PMET jobs to have ever rising income increases and ever increasing career paths. I think its not a bad thing to have our locals compete - it raises their game. One thing we know is that in this world, companies can go anywhere (even more with increased WFH). You need to be globally competitive. If wages were the only criterion why companies deploy, developed countries would have very few jobs. The fact is : “Productivity and innovation matters. Maybe even more than ever”.

[RachelProp]

Singapore faces 'crisis of a generation' but will emerge stronger, says PM Lee

https://www.theedgesingapore.com/news/si...ays-pm-lee

[RachelProp]

TraceTogether tokens to come in June; 'our mindset should not be to exploit each and every rule' says Wong

https://www.theedgesingapore.com/news/co...every-rule

[RachelProp]

Institutional investors in APAC most confident about meeting investment objectives amidst Covid-19: State Street

https://www.theedgesingapore.com/news/co...ves-amidst