Budget 2020: Silver Lining in the Stormy Clouds

On 17 February, the day before Deputy Prime Minister and Finance Minister, Heng Swee Keat delivered the Budget Statement, it was reported that Singapore’s economic growth for 2020 would be revised downwards (between -0.5% and 1.5%)[1]. Synchronously, the number of COVID-19 cases in Singapore continued to increase as the days went by. Naturally, Singaporeans were rendered trepidatious as 2020 seemed to be a year marked by ambiguity and apprehension.

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The Fourth Industrial Revolution & Artificial Intelligence

The First Industrial Revolution used water and steam power to mechanise production – mainly supporting the agricultural economy. The Second utilised electric power to create mass production in which factories flourished. The Third focused on electronic and Information Technology (IT) to automate production.

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New CPF Usage & HDB Loan Rules: A Boon or Bane?

The new policy for buying residential properties using Central Provident Fund (CPF) monies and Housing Development Board (HDB) housing loans that were updated on 10 May 2019 now gives home buyers more flexibility and makes old flats more attractive to purchase. Authorities say the change is a reflection of “changing needs” and “higher life expectancy” of Singaporeans. As with the old policy, the aim of this rule is still to encourage buyers to buy homes that will last as long as their lifetime.

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Unlocking the Potential of our Community’s MicroSMEs for Economic Upliftment

In my work as a business advisor, I have the privilege of meeting inspiring examples of ordinary people from our community who have become ‘accidental entrepreneurs’. Take for example Rahmah (not her real name), a baking expert. A decade ago, she was working as an administrative staff. However, she is passionate about baking and took baking orders on the side from friends and family. What was a side-line eventually grew into a full-time, homebased baking and training enterprise. When I met her three years ago, she was already enjoying $10,000 […]

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