BIZSpoke | 25 October 2024 - Wishing our valued members a joyful Deepavali!

25 OCTOBER 2024

Seated from left: Thian Tai Chew, Executive Director, Human Capital, Carolina Ng, Chief Marketing & Communications Officer, Marketing & Communications, Kok Ping Soon, Chief Executive Officer, Jean Tan, Chief Executive Officer of SBF Foundation & Chief Social Impact Officer, Annie Wang, Chief Strategic Partnership Officer, Strategic Partnerships & Events

Standing from left: Samantha Teo, Executive Director, International Business, Cheryl Kong, Executive Director, Membership & Corporate Services, Mabel Tang, Senior Director, SBF Business Institute, Musa Fazal, Chief Policy Officer, Advocacy & Policy, Peggy Ng, Executive Director, HR & Transformation, Kelvin Kee, Executive Director, International Business, Heng Peng Kwang, Executive Director, Centre for the Future of Trade & Investment, Ong Chin Ann, Chief Information Officer, Information Technology, Lee Yee Fung, Chief Smart Technologies Officer, Smart Technologies Programme

May the Festival of Lights Illuminate Your Path to Success!

WHAT'S NEW

Quest Programme Empowers SMEs for Sustainable Transition

The Queen Bee Enabled Sustainability Transition (Quest) programme, a partnership between SBF, EY, OCBC Bank, and SingPost, empowers SMEs to embrace sustainable practices. With many SMEs eager to go green but lacking the know-how, Quest steps in with hands-on training in carbon footprint measurement, ESG indicators, and decarbonisation strategies. As Singapore gears up for mandatory climate-related disclosures by 2025, this initiative drives the shift towards greener business models, positioning SMEs to meet evolving sustainability expectations.

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SBF National Business Survey 2024 – Annual Business Sentiments Edition

We’re gathering your valuable feedback on business sentiments, the financial challenges faced by businesses and the types of government support required. By participating in this survey, you will help strengthen SBF’s advocacy efforts to drive support for businesses like yours.

All responses will be treated with the strictest confidentiality, and only aggregated data will be published. If you need any assistance with the survey, please reach out to [email protected].

JOIN SURVEY

NMP Mark Lee on Income Tax (Amendment) Bill and Multinational Enterprise (Minimum Tax) Bill

Speaking in Parliament on 15 October regarding the global 15% minimum tax rate for large MNEs, NMP and SBF Vice-Chairman Mark Lee raised concerns about its potential impact on Singapore's competitiveness. He suggested enhancing non-tax incentives, such as infrastructure and R&D support, to attract foreign investment. Mr Lee also proposed linking the new Refundable Investment Credit (RIC) to economic outcomes and expanding it to incentivise green investments, aligning fiscal policies with sustainability goals.

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NMP Neil Parekh on Central Provident Fund (Amendment) Bill

Speaking in Parliament on 14 October, NMP and SBF Council Member Neil Parekh praised the Central Provident Fund (Amendment) Bill for enhancing financial planning and retirement readiness but raised concerns about implementation challenges. He also sought support for SMEs, highlighting the potential compliance burden of the new CPF procedures on businesses with limited resources.

Mr Parekh also spoke on the Income Tax (Amendment) Bill and Multinational Enterprise (Minimum Tax) Bill that aim to enhance Singapore’s global competitiveness. Click here to view his second video.

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Sustainability Practices Explored During Future-Ready Businesses Spotlight Visit

Over 60 business leaders explored advanced sustainability practices during their visits to the Continental-NTU Corporate Lab, Razer, and SingPost. These Future-Ready Businesses (FRB) Spotlight visits showcase how innovative organisations are paving the way for sustainable practices across diverse industries, from technology to logistics and transportation. Contact us at [email protected] if you would like to find out more about how you or your company can be part of the next spotlight visit.

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Join Us Virtually in Shanghai to Explore Business Opportunities!

SBF will be leading 44 Singapore exhibitors to the 7^th China International Import Expo (CIIE) scheduled to be held from 5 - 10 November. SBF will also be hosting the Singapore-China Trade and Investment Forum (SCTIF) on 6 November 2024, in conjunction with the CIIE. This forum provides a vital platform for businesses from both countries to engage in constructive dialogue and explore opportunities for collaboration.

WHAT'S NEW

All-inclusive CNY Package at Singapore EXPO

Ring in the Lunar New Year with a hassle-free yet extraordinary corporate celebration at Singapore EXPO. Enjoy delicious menus specially curated by TungLok Catering:

Buffet with lohei and live cooking stations

Minimum 50 pax fr. $88+GST / pax

8-course dinner with lohei

Minimum 5 tables fr. $988+GST / table

Complimentary Lion Dance available (T&Cs apply).

Learn more here.