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OCBC’s profit in the first quarter of 2021 exceeds double expectations of a record $1.5 billion.

Ace Global
December 30, 2021

OCBC successfully went beyond market forecasts as its earnings for Q1 2021 more than doubled Q1 2020 performances. Constituting to such an achievement is OCBC’s strive towards its insurance and wealth businesses while reducing allowances for low credit-rated loans.

According to the review of SGX – NUS, Singapore companies are getting better in sustainability reports

Ace Global
December 30, 2021

Singapore companies are getting better at making sustainability reports in the COVID-19 era, according to a joint review by Singapore Exchange Regulation (SGX RegCo) and the Centre for Governance and Sustainability (CGS) at the National University of Singapore Business School.

Climate-related investments will get $1.8 billion from official foreign reserves.

Ace Global
December 30, 2021

According to MAS managing director Ravi Menon, the Monetary Authority of Singapore (MAS) will provide US$1.8 billion of its official foreign reserves (OFR) to five asset managers for climate-related investments.

Singapore and the UK begin negotiations on a digital economy agreement

Ace Global
December 30, 2021

Businesses and consumers can look forward to the signing of the UK-Singapore Digital Economy Agreement, which sets out rules for reliable cross-border data flows and high data protection standards.

Singapore aims to create at least 20,000 digital jobs.

Ace Global
December 30, 2021

According to the Communications and Information Minister Josephine Teo, the Infocomm media (ICM) sector is likely to take up a larger portion of the Singapore economy in the future.

Singapore’s manufacturing sector grew for the eighth consecutive month, with a 27.5% increase in June.

Ace Global
December 30, 2021

Singapore’s manufacturing sector grew for the eighth consecutive month last month, which was driven by a low base among the Covid-19 restriction measures last year.

Singapore’s fintech industry witnesses a 3-year record of 72 deals worth US$614.2 million in the first half of 2021

Ace Global
December 30, 2021

The fintech industry in Singapore saw a three-year high in transactions in the first half of this year as companies accelerated their digital transformation.

Global tax reforms will not harm Singapore’s competitiveness

Ace Global
December 30, 2021

Singapore is confident that global tax reforms will not hurt its competitiveness given the “strong value propositions” it has built up over the years, said Beh Swan Gin, chairman of the Singapore Economic Development Board (EDB).

New disclosure standards for Singapore retail ESG funds are set to be implemented in early 2022.

Ace Global
December 30, 2021

Early next year, the Monetary Authority of Singapore (MAS) will lay out its regulatory expectations on the disclosure criteria that retail funds in Singapore with an ESG (environmental, social, and governance) investing goal must achieve, according to its managing director Ravi Menon.