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Compliance is critical for every business’s operational integrity. Chartered accountant Wee Kong Eng offers insights into Singapore's regulatory environment. SINGAPORE - Media OutReach Newswire - 30 April 2024 - Maintaining compliance with regulatory requirements in Singapore is critical for every business's operational integrity. Chartered accountant Wee Kong Eng shares more about the importance of compliance and offers insights into navigating the regulatory framework. Singapore's Regulatory Landscape Singapore's regulatory framework prioritises fostering a business-friendly environment. Numerous guidelines are implemented to not only support businesses in achieving sustainable growth, but also protect consumers or the public. However, Singapore also offers various initiatives, such as strategic exemptions that smaller enterprises can leverage for efficiency and flexibility in regulatory compliance. For example, smaller companies do not have to have their financial statements audited for a year if they meet certain criteria. All required submissions to the authorities are also digitised—Singapore's compliance system is probably one of the most efficient in the world. Important Guidelines Businesses Must Pay Attention To There is a long list of laws that businesses have to comply with. Firstly, they must prepare proper accounts and submit income tax returns. Those who are GST-registered (or required to pay GST) will need to submit GST returns. Secondly, all companies in Singapore must prepare financial statements, have the financial statements audited and hold an Annual General Meeting (AGM) unless they are exempt from doing so. Then, an Annual Return must be submitted to the Accounting and Corporate Regulatory Authority (ACRA). There are also other requirements like Central Provident Fund (CPF) contributions and submission of employees’ income to the Inland Revenue Authority of Singapore (IRAS). Importance of Compliance All businesses, regardless of their size, must ensure that they fully meet all statutory compliance guidelines as those are legal requirements and there are consequences for not complying with them. Large corporations usually give compliance requirements their due attention, but unfortunately, a good proportion of smaller, locally-owned businesses tend to neglect compliance and may have to suffer the effects of violations or non-compliance. This could stem from resource and cost constraints or a misconception that compliance with statutory requirements are not important. However, in order to grow and expand, there must be changes to mindset and approach to compliance. And a culture of compliance, combined with a set of proper systems can be helpful for businesses looking for long-term sustainable success. For example, when they wish to sell their business, add new investors or when they exceed the threshold to be exempt from audits, difficulties will begin to rise if the business did not have the foundations for compliance in place. Tips for Ensuring Compliance It’s important for businesses, especially smaller entities that aim to grow, to have the right culture and attitude toward compliance. The tone from the top is crucial. Businesses should recognise that compliance with accounting, taxation, GST and other requirements is part of their business requirements. Like any other business costs, there must be costs allocated to meet these compliance needs, and these must be implemented from the get-go so that it becomes part of the business’s DNA. Many businesses grow without the required foundations for compliance in place and only to find that implementing the required policies, procedures and controls cannot be done overnight. For businesses that are unable to perform all compliance activities themselves to meet these requirements, they can outsource the tasks to appropriately qualified service providers. However, when selecting a service provider or advisor, businesses need to make sure that they’re choosing those with the right expertise and capabilities to deliver the quality required. Many accounting-related services in Singapore are actually unregulated and there are a myriad of different types of service providers in the industry, so it’s wise to stay vigilant. Hashtag: #KEWeeAssociatesPACThe issuer is solely responsible for the content of this announcement.About K E Wee & Associates PACK E Wee & Associates PAC (Public Accounting Corporation) is a professional firm of Chartered Accountants of Singapore that provides auditing, assurance, and other accounting services to businesses in Singapore. The team works to assist clients in meeting their compliance requirements, including corporate regulatory, financial reporting, goods and services tax, and company income tax submission guidelines. Wee Kong Eng is a chartered accountant with over 20 years of experience and a Public Accountant registered with the Accounting and Corporate Regulatory Authority (ACRA). Throughout his career, he has assisted clients in various aspects, including navigating tax, GST, and transfer pricing audits conducted by IRAS, facilitating tax refunds, and guiding businesses through complex compliance issues.
Offering Historic Experiences in the Heart of Macau's Avenida de Almeida RibeiroMACAU SAR - Media OutReach Newswire - 30 April 2024 - Lek Hang Group, investing over HKD 2 billion in acquisition and revitalization, is proud to announce the soft opening at April 30 of their flagship hotel, the renowned Hotel Central. The hotel locates in the heart of Macau and adjacent to iconic attractions such as Ruins of St. Paul's and The Senado Square. Alongside the hotel, the fourth floor will also feature the Nostalgic Western dishes restaurant "Palace". P001 Lek Hang Group's century-old Hotel Central, a landmark of Avenida de Almeida Ribeiro and the neighbourhood of the famous tourist attractions, Ruínas de São Paulo and the Largo do Senado, which is the result of more than a decade of hard work, commenced its soft opening on April 30. Mr. James Wong, Marketing Director and Senior Assistant to the Chairman of Lek Hang Group, expressed his excitement as the entire staff of Hotel Central is well-prepared after a meticulous and comprehensive training process. This endeavor, representing over a decade of dedication and hard work, is now ready to be unveiled to the public. With the soft opening coinciding with the highly anticipated May Day holiday, James hopes to leverage the synergy between the hotel and its associated tourist facilities to enhance the vibrancy and appeal of the old city area. By enticing visitors to explore Macau's historic district, the aim is to provide an immersive experience of Macau's unique charm and cultural heritage while stimulating tourists' spending and revitalizing community tourism. P002 Located on the fourth floor of Hotel Central, "Palace" is a high-end restaurant specialising in Nostalgic Western dishes. Hotel Central offers a total of 114 rooms with six different room types ranging from the Superior Room to the Supreme room with balcony, cater to the needs of different travellers. The interior design, led by the internationally renowned Cheng Chung Design, incorporates local elements with meticulous precision, showcasing Macau's distinctive flavor and cultural memories. Moreover, the various vintage objects found throughout the hotel were personally handpicked by Lek Hang Group Chairman Mr. Simon Sio, ensuring that guests can feel the historical and cultural essence of Macau in every corner of Hotel Central. P003 The interior design of Hotel Central led by the Internationally renowned Cheng Chung Design Meanwhile, the well-known Palace, renowned for its traditional dim sum, has undergone a magnificent transformation. It now emerges as a high-end restaurant focusing on Nostalgic Western dishes, paying homage to traditional culinary culture and heritage. Serving breakfast, lunch, dinner, and afternoon tea, each dish at the restaurant carries a unique historical story, aiming to evoke nostalgia for glorious bygone eras while leading the way in future dining trends. To celebrate the soft opening and welcome the bustling May Day holiday, Hotel Central is delighted to offer the "Glory returns for 100 years" soft opening package. Guests can enjoy a two-night stay at a special rate starting from MOP 788 per room per night, which includes a complimentary breakfast for two at Palace and complimentary mini-bar access during the stay. The package is available for stays from April 30 to June 30 and can be purchased on the Hotel Central official website. Hashtag: #澳門 #酒店 #新中央酒店 #力行集團 #旅遊 #文物https://www.hotelcentral.com.mo/The issuer is solely responsible for the content of this announcement.About Lek Hang GroupEstablished in 1991, Lek Hang Group has become a pillar of Macau's business landscape, adhering to a philosophy of "Diligence and Focus, Grounded in action" and growing alongside the region. Over three decades, the group has diversified into real estate, construction, hotel management, dining, mall operations, and advertising planning, all while actively engaging in corporate social responsibilities. These efforts include revitalizing old districts and contributing to the community, reflecting the group's commitment to long-term strategic planning and the stable development of its businesses.
SINGAPORE - Media OutReach Newswire - 30 April 2024 - In light of recent reports highlighting an increasing number of youths facing sports-related injuries with potential long-term implications, it has become evident that participating in sports, while fostering joy and passion, also carries the unavoidable risk of injuries. Recognising the unique healthcare needs of athletes and active individuals, Advanced Hand, Wrist & Nerve Centre is proud to announce an exclusive MRI discount tailored to sports enthusiasts of all ages. Empowering Precision Care for Hands, Wrist, and Nerves at the Advanced Hand, Wrist, and Nerve Centre. Tailored Healthcare Solutions for Sports Enthusiasts Dr Jacqueline Tan, senior hand and wrist specialist at Advanced Hand, Wrist & Nerve Centre in Singapore, shares a passion for fitness as a dedicated gym junkie. With this firsthand understanding of common sports-related injuries, she emphasises the significance of personalised healthcare solutions for sports lovers. Whether it is a wrist sprain or finger sprain, the centre is committed to supporting athletes on their journey to swift healing. Furthermore, the centre caters to not just sports-related injuries but also a diverse range of conditions such as hand and wrist trauma, including fractures and ligament injuries. Discounted MRI for Timely Diagnostics As early detection is key in addressing sports-related injuries and in a move towards proactive healthcare, Advanced Hand, Wrist & Nerve Centre is thrilled to introduce a 30% discount on MRI services. This exclusive offer is designed with sports enthusiasts in mind, aiming to facilitate timely diagnostics and optimal treatment. This empowers individuals to expedite their healing journey, ensuring a quicker return to the sports and activities they love. To redeem, simply be one of the first 10 patients to email the clinic at info@aohc.sg and the team at Advanced Hand, Wrist & Nerve Centre will provide a unique discount code. This code should be quoted when making an appointment or filling out the contact form on their website. Elevating Care Through a Patient-Centric Approach Going beyond the provision of MRI discounts to promote early intervention, Dr Jacqueline Tan and her team believe in providing a seamless care experience at the centre. This ranges from friendly counter staff promptly addressing queries via phone, email, or WhatsApp, to caring nurses assisting with insurance and condition-specific concerns. Her vision as a hand and wrist specialist extends beyond the confines of a traditional approach, encompassing raising awareness about non-surgical alternatives. Through ongoing education and proactive screening initiatives, her goal is to foster a comprehensive understanding within the community to minimise the necessity for surgical interventions. Seizing the Opportunity for Swift Healing Sports enthusiasts experiencing pain, discomfort, or lingering concerns from their activities are encouraged to seize this opportunity for quicker healing. It is advisable to never let uncertainties linger. “Timely diagnostics help us to provide targeted and effective treatments, enhancing the overall healing process. This not only addresses injuries but also allows individuals to regain control over their well-being, ensuring a future filled with vitality, resilience, and the joy of an active lifestyle,” shared Dr Jacqueline Tan. Hashtag: #AdvancedHandWrist&NerveCentreThe issuer is solely responsible for the content of this announcement.About Advanced Hand, Wrist & Nerve Centre Helmed by Dr Jacqueline Tan, Advanced Hand, Wrist & Nerve Centre is a one-stop solution for a myriad of hand, wrist, and nerve conditions. From 'hand therapy, medications, injections to surgical options, they are committed to providing appropriate and utmost care to restore hand and upper extremity function promptly. With the guidance of an experienced hand surgeon and a team dedicated to patient well-being, they help individuals regain movement and rediscover the joy of life through trigger finger treatment and more. Get in touch with them to find out more.
HCM CITY, VIETNAM - Media OutReach Newswire - 30 April 2024 - The Hồ Chí Minh City Development Joint Stock Commercial Bank (HDBank, stock code: HDB) has announced an ambitious pre-tax profit target of VND15.85 trillion (US$625.5 million) for 2024, a 22% increase from the previous year, at its annual general meeting on Friday, April 26. Customers conduct transactions at an HDBank branch in HCM City. Photo courtesy of HDBank. One of the key factors driving growth is the lender's focus on maintaining profitability ratios such as ROA and ROE. In 2024 the bank remains on track for high growth while continuing improving its comprehensive environmental, social and governance (ESG) strategy. The bank is projecting total assets to exceed VND700 trillion (US$27.6 billion) this year, up 16% from 2023. Total deposits are expected to reach VND624 trillion (US$24.6 billion), up 16%. Loans outstanding are projected to exceed VND438 trillion (US$17.28 billion) in line with the credit growth quota allocated by the central bank. This year the bank plans to increase its charter capital by 5% to VND29.1 trillion ($1.15 billion) by issuing shares. In 2023, it has managed to ensure a low bad debts ratio of 1.5% and achieve a capital adequacy ratio (CAR) of 12.6%, among the highest in the industry. The annual general meeting also agreed to increase the dividend payment rate in 2023 to 30% from 25% with a maximum of 10% in cash, based on the business results it achieved. In 2023, profit before tax topped VND13 trillion (US$613 million), up 26.8 % from 2022. HDBank achieved an ROA of 2% and an ROE of 24.2%, placing it among the top banks in the industry. In the first quarter of 2024, HDBank continued to achieve significant pre-tax profits, which topped VND4 trillion (US$157.8 million), a 43.6% jump year-on-year. Its ROE was 26.2%, credit growth was 6.2% and bad debts were controlled at 1.68% in the first quarter. Its CAR based on Basel II standards exceeded 13.7% in the period. HDBank has consistently delivered for its shareholders, and this year is no exception as it plans to pay a dividend of 30%, with a maximum of 15% in cash and the rest in stocks. Hashtag: #HDBankThe issuer is solely responsible for the content of this announcement.
HONG KONG, April 30, 2024 /PRNewswire/ -- Harvest Global Investments Limited (referred to as HGI) officially listed the Harvest Bitcoin Spot ETF (HKD counter security code: 03439; USD counter security code: 09439) and Harvest Ether Spot ETF (HKD counter security code: 03179; USD counter security code: 09179) in Hong Kong today. As Asia's first-mover Bitcoin spot ETF and Ether spot ETF, the official listing of these two major blue-chip cryptocurrency ETF products signifies that the Asian cryptocurrency asset industry has officially entered a new investment era with lower entry barriers compliance, and transparency. Bitcoin is often regarded as "digital gold", and Ethereum as the foundational platform for smart contracts and decentralized applications, essential to blockchain technology. HGI continually innovates, focusing on providing investors with more investment choices and broader opportunities for wealth creation. The official listing of the Harvest Bitcoin Spot ETF and Harvest Ether Spot ETF is another solid step by HGI to leverage the high-growth potential market, and a historic achievement in Hong Kong's digital finance area, pushing the investment in Bitcoin to new era. Since their inception, blue-chip cryptocurrencies have always posed certain transaction barriers for most ordinary investors. The Harvest Bitcoin Spot ETF and Harvest Ether Spot ETF address two major pain points of past virtual asset investments: on one hand, investors can directly participate in the global Bitcoin and Ether markets through traditional stock brokerage accounts, eliminating complex contracts and simplifying processes, significantly reducing investment technical thresholds and operational risks, and lowering cost rates; on the other hand, due to the regulated nature of ETFs, the investment paths of the Bitcoin Spot ETF and Ether Spot ETF are transparent, effectively decreasing risk that might arise from irregular operations or custody issues on trading platforms, and directly investing in the legally traded Bitcoin and Ether spot markets in Hong Kong, closely reflecting the immediate value of these two major cryptocurrencies. This provides market investors with a low-barrier, low-cost, low-risk, and highly flexible way to participate and capitalize on the potential growth of digital assets. Additionally, the global innovation of the subscription/redemption models using Bitcoin and Ether sets a new path for global investors that is regulated, transparent, and efficient, opening a new chapter in the integration of digital assets with traditional financial systems. The launch of the Harvest Bitcoin Spot ETF and Harvest Ether Spot ETF showcases Hong Kong's advantages as a global leader in international finance and business hubs, injecting fresh vitality into the Asian traditional capital market. Under Hong Kong's open policies and strict regulation, HGI, as a pioneer in the asset management field, will lead global investors in connectivity and collaboration, jointly stepping into a new era of digital asset investment. About Harvest Global Investments Limited Harvest Global Investments Limited (HGI) was incorporated in Hong Kong in 2008. It was among the first group of Chinese asset managers to establish operations outside of mainland China. As the frontier of overseas investments of the Harvest Fund, HGI has deep insights into Asia and China's financial markets while offering comprehensive investment solutions for global investors. IMPORTANT: Investment involves risks, including possible loss of principal amount invested. Past performance or any prediction or forecast is not indicative of future results. Investors should read the offering documents of Harvest Bitcoin Spot ETF and Harvest Ether Spot ETF (collectively the "Sub-Funds") for further details, including the risk factors, before investing. Investors should not base investment decisions on this material alone. Investors should note: The Products: The Sub-Funds are passively managed exchange traded funds which directly hold bitcoin and ether respectively. Risks relating to bitcoin/ether: The Sub-Funds are exposed to the risks of bitcoin and ether respectively through their respective investments in bitcoin and ether directly, and the risks which adversely affect the price of bitcoin/ether may also affect the value of the Sub-Funds. Bitcoin/ether and bitcoin/ether industry risk: Bitcoin/ether operates without central authority and is not backed by any government. Bitcoin and ether are relatively new innovations and the markets for bitcoin and ether are subject to rapid price swings, changes and uncertainty. Speculative nature risk: Investing in bitcoin/ether is highly speculative, and market movements are difficult to predict. Extremely high volatility risk: An investment in bitcoin/ether can be highly volatile compared to investments in traditional securities and an investment in the Sub-Funds may experience sudden and substantial losses. Investors should be prepared to lose the full principal value of their investment within a single day. Fraud, market manipulation and security failure risk: Bitcoin/ether may be subject to the risk of fraud, theft, manipulation or security failures, operational or other problems that impact virtual asset's trading platforms. The occurrence of any of the above may have negative impact on the price of bitcoin/ether and the value of the Sub-Funds' investments. Cybersecurity risks: Bitcoin/ether is susceptible to theft, loss and destruction. Bitcoin/ether transactions are typically not reversible without the consent and active participation of the recipient of the transaction. The Bitcoin/Ethereum Network is also vulnerable to various deliberate cybersecurity attacks. Cybersecurity risks of the bitcoin/Ethereum protocol and of entities that custody or facilitate the transfers or trading of bitcoin/ether could result in a decline in the value of bitcoin/ether. Regulatory risk: The regulation of bitcoin/ether, virtual assets and related products and services continues to evolve. Regulatory changes and actions with respect to virtual assets generally or any single virtual asset in particular may alter, perhaps to a materially adverse extent, the nature of an investment in the bitcoin/ether. Fork risk: Developers may propose modifications to the Bitcoin/Ethereum Network from time to time. If the updated Bitcoin/Ethereum Network is not compatible with the original bitcoin/Ethereum software and a sufficient number (but not necessarily a majority) of users and miners elect not to migrate to the updated Bitcoin/Ethereum Network, this would result in a "hard fork" of the Bitcoin/Ethereum Network, resulting in the existence of two versions of Bitcoin/Ethereum Network running in parallel and a split of the blockchain underlying the Bitcoin/Ethereum Network. The occurrence of such "fork" may result in an adverse impact on the price and liquidity of bitcoin/ether and the value of the Sub-Funds' investments. Virtual asset's trading platform risk: Virtual asset's trading platforms have in the past, and may in the future, collapse, stop operating or temporarily or permanently shut down due to fraud, cybersecurity issues, manipulation, security breaches. The potential consequences of failures of virtual asset's trading platforms could adversely affect the value of bitcoin/ether and in turn the value of the Sub-Funds. Cybersecurity risk in relation to the custody of virtual assets: The security procedures in place for the custody of virtual assets may not be able to protect against all errors, software flaws or other vulnerabilities in the Sub-Funds' technical infrastructure, which could result in theft, loss or damage of the Sub-Funds' assets. Index disclaimer: CF Benchmarks Ltd index data is used under license as a source of information for certain Harvest Global Investments Limited's ("HGI") products. CF Benchmarks Ltd, its licensors and agents have no other connection to HGI's products and services and do not sponsor, endorse, recommend or promote any HGI's products or services. CF Benchmarks Ltd, its licensors and agents have no obligation or liability in connection with HGI's products and services. CF Benchmarks Ltd, its licensors and agents do not guarantee the accuracy and/or the completeness of any index licensed to HGI and shall not have any liability for any errors, omissions, or interruptions therein. The Sub-Funds are authorized by the Securities and Futures Commission in Hong Kong ("SFC"). Such authorizations do not imply official recommendation by the SFC. This material is published by HGI and has not been reviewed by the SFC.
SYDNEY, April 30, 2024 /PRNewswire/ -- Emphasys, a renowned leader in SAP transformations in Australia, is proud to announce its partnership with smartShift, a global leader in SAP custom code migration and optimisation. This strategic collaboration aims to streamline system complexity, providing clients with efficient, future-ready platforms through Emphasys' SAP advisory, architecture, integration, and data analytics services, enhanced by smartShift's AI-powered solutions. Emphasys specialises in Systems Architecture, Advisory, and Systems Integration Services, with deep expertise in SAP S/4HANA solutions. By leveraging their specialised knowledge, Emphasys transforms intricate landscapes into streamlined, efficient, and forward-looking platforms. As an SAP Gold partner, Emphasys offers solutions enriched by a robust network and partnerships, ensuring clients achieve optimal performance, cost savings, and growth potential for their businesses. Commenting on the partnership, Glynn Williams (Emphasys MD) expressed excitement about the collaboration, stating, "We are thrilled to partner with smartShift to further empower our clients in their SAP transformations. By combining our specialised expertise with smartShift's innovative solutions, we can deliver unparalleled value, simplifying complexity and driving business success." smartShift, renowned for its expertise in SAP custom code migration and optimisation, offers AI-powered solutions that deliver secure, stable, and optimised code in a matter of weeks. With a track record of modernising over 3,300 SAP systems and converting more than 3 billion lines of code, smartShift is trusted by many of the world's largest SAP customers. Craig Boyle (Emphasys Cloud Practice Director) shared insights into the partnership, stating, "We are excited to introduce smartShift solutions to our Australian clients. Together, we aim to revolutionise system complexity, providing clients with agile, future-ready platforms that drive innovation and growth." The partnership between Emphasys and smartShift marks a significant milestone in the SAP transformation landscape, promising clients unparalleled expertise and cutting-edge solutions to navigate complex business challenges and achieve sustainable success. For more information about Emphasys and smartShift, visit www.emphasys.com.au and www.smartshift.com respectively. About Emphasys Founded by industry experts, Emphasys is a leading SAP services provider, holding a Gold Partnership with SAP and ISO:9001:2015 certification from PwC. Specializing in SAP Architecture, Integration, Data and Analytics, and S/4HANA Advisory Services, they drive digital transformation and boost business productivity.
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