fci ppt singapore
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SINGAPORE CALLING
SINGAPORE CALLING
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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.
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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.
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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.
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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.
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SIR STAMFORD R AFFLES WITH BRITISH
EAST INDIA OTHER MEMBERS
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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.
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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.
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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
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V IBRANT LIFESTYLE
One of Asia's safest
city, Singapore
offers residents andvisitors a growing
palette of
entertainment,
cultural andlifestyle options.
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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.
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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.
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¶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.
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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.
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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.
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AD V ANTAGES OF FTA·S IN SINGAPORE
FREE TRADE AGGREMENT
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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
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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.
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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)
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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.
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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.
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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
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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.
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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%
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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%
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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.
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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
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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