Commentary

ASEAN celebrated its 50th anniversary with a grand parade in the Philippines which represented the different cultures of its 10-member states on August 8, 2017. No one expected ASEAN to survive past 10 years, let alone 50, when there was intense conflict between its founding members in 1967.

I would contend that in the context of retail, the aptly named store in Seattle, Amazon Go, means “Go,” not just for the customer but for thousands of people employed in the retail industry. Singapore will not be immune.

In Singapore (and the world), the business strategy of hotels is changing—because the way people use hotels is changing. With the rising popularity of the sharing economy, growth of millennials, and digital disruption, travellers are increasingly savvy today. 

As a business, you would need to be highly productive to succeed in Singapore’s competitive environment. Time is money and the less time spent on a task means you can do more work with less employees. The business makes more money and every employee gets paid more. This is a win-win situation that leaves everyone happy.

“Physical retail is dead!”—open any news publication and you’re likely to find a similar headline. The reasons for such fears are aplenty.

According to the Infocomm Media Development Authority of Singapore (IMDA), only 30% of Singaporean businesses are on the cloud and they reported higher productivity growth. Over the next 3 to 10 years, IMDA expects to see growing adoption of cloud computing given its elasticity over traditional IT solutions.

What exactly is a tax haven? As far as we are aware, there is no universally accepted definition. Typically, the term is used to describe a jurisdiction that offers favorable tax or other conditions. It is therefore a relative term. So relative to Indonesia, Singapore appears to be a tax haven. Relative to Singapore, the BVI appears to be a tax haven.

As things get disrupted within the Singaporean financial world with new tech, it’s no surprise that the way we use currency is being affected as well. In February, it was reported that Numerai— a new kind of hedge fund built by a network of data scientists—started issuing a new digital currency. Its aim? To turn Wall Street into a place where everyone's on the same team. Could the same come to Singapore?

Singapore is competing in a dynamic global economy in which two assets—a skilled and versatile workforce—as well as the capacity for creativity, innovation, and entrepreneurship, would provide a competitive edge. Our economic growth as a nation depends very much on our ability to generate new ideas and translate those novel ideas into concrete, worthwhile innovations. To succeed in today’s innovation-driven economy, Singapore will need well-educated and technically proficient workers who possess the ability to think analytically, communicate effectively, and work collaboratively.

Every day, investors are becoming more and more nervous.

We know, we know. You’ve been hearing how virtual and augmented reality (AR/VR) will “change our lives” since 2009. Since then, we’ve witnessed the quiet failure of Google Glass, the somewhat controversial Magic Leap, and the slow but steady demise of the QR code.

In Singapore, career paths traditionally focus on the profession or occupation that would meet an individual’s career goals. Nonetheless, most would change jobs more than three times during their entire career or work-life, and more often than not seldom consider a change in career path—profession or occupation.

Singapore’s wealth management industry needs to beef up its cyberdefences if it is to remain trustworthy

In mid-December 2016, Philippine President Rodrigo Duterte visited Singapore on a state visit, and Singapore President Tony Tan highlighted during a state banquet that an increasing number of Singapore companies is eager to invest in the Philippines. He described the relationship between the two countries as “a robust friendship anchored in a shared vision of peace, harmony, and prosperity for our countries and the region.”

We know we need to adapt quickly in a disruptive world. The magnitude, nature and frequency of change have accelerated tremendously in Singapore and the world around. Technology is a game changer that shortens business cycles and disrupts long-established routines and structure. Organisations continually restructure, resize, and restrategise to survive. We are repeatedly asked to do more with less with more surprises and less control. The demands outside of work have increased as well, with our children engaged in this technology-enabled space, our time with family at a premium, and community organisations seeking our support to help them cope with challenges they face in the modern world.

Singapore's biannual Maritime Week recently concluded. Despite the celebrations and accolades handed out, the cloud of a depressed and struggling sector hung heavy over the industry. Although we may (hopefully) be seeing the green shoots of a shipping recovery, companies are still under a huge amount of pressure. Shipping is cyclical, and right now, we still seem to be on the wrong side. A number of international commentators have recently pushed the view that the local shipping and offshore sectors are in a state of terminal decline. Singapore is too expensive; the competition is too fierce; too many companies are struggling; even the government is too involved.