Commentary

The story of Singapore’s urban development is nothing short of astonishing.

Data centres are the backbone of Singapore’s digital economy – powering e-commerce, the Internet of Things (IoT), Artificial Intelligence (AI) services, and online collaboration tools. Despite their ubiquity, data centres have come under scrutiny for their vast and often unchecked consumption of natural resources. 

As Singapore businesses continue to generate more data than ever before, the importance of effective data backup and recovery strategies becomes increasingly critical. In recent years, artificial intelligence (AI) and machine learning (ML) have emerged as powerful tools in this field, transforming the way organisations approach data backup.

Whilst most industries have seen a noticeable upswing in demand as we move forward in the post-COVID era, Singapore businesses are not out of the woods yet.

Singapore's weather has become a hot topic, both figuratively and literally. In recent months, the nation has found itself at the epicentre of the regional heat challenge. Temperatures even soared as high as 37 degrees Celsius in May of this year; matching a 40-year record for the highest daily maximum temperature in the country.

Background

Now a mainstay in the corporate lexicon, sustainability has become mission-critical for business success in the new trust era as governments, partners, employees, and clients increasingly consider ESG in their decision to engage with organisations. 

Businesses understand the tremendous impact that digital transformation and the adoption of new technology can have on revenue generation and providing greater customer value. However, with increased technology adoption comes the exponential risk of falling victim to the digital plague of ransomware because for every new data generated, a business’s attack surface expands. 

The last few years have witnessed a sea of change across the environmental landscape. Challenges such as the global pandemic, inflationary pressures and inefficient resource allocation have impacted the environmental landscape. Earth’s natural resources are being depleted at an alarming rate, 1.8 times faster than the planet can replenish them. By 2050, this is expected to reach 2.3 times what is sustainable.

 It should be about offering options and putting control back in the hands of consumers so that they can decide what is best for them, says GXS' Jenn Ong.

Singapore’s real estate sector will soon see a tightening of its customer and transaction due diligence requirements. From 28 June 2023, property developers will need to implement enhanced measures to prevent money laundering and terrorism financing. This will include the requirement to conduct customer due diligence (CDD) checks on new and existing property purchasers.

In Singapore, retail sales have essentially returned to pre-pandemic levels. Consumers are returning to stores to find revamped and refreshed retail concepts that showcase the relevance of the brick-and-mortar store in the post-Covid era. 

The Additional Buyer’s Stamp Duty (ABSD) is a property buyer tax in Singapore that was introduced in 2011. It is a tax that is imposed on top of the existing Buyer’s Stamp Duty (BSD) and is meant to deter foreigners and property investors from driving up the property market prices. Recently, the ABSD rates have been increased to cool down the property market. This article discusses the impact of the ABSD and property buyer tax on real estate investments in Singapore.

As property prices in Singapore continue to rise, more and more clients are finding themselves affected by the Total Debt Servicing Ratio (TDSR) framework. This framework, introduced in 2013, sets a limit on the amount of debt a borrower can take on based on their income and other financial commitments. While the TDSR framework is designed to promote financial prudence, it has also made it harder for some clients to secure financing for their property purchases.