...management theory and management innovation theory, this paper discusses the cost reduction strategies and green strategies in global maritime logistics, and presents the idea that management is an objective requirement for maritime logistics development in the new situation. The paper summarizes the achievements and deficiencies in maritime logistics innovation of cost reduction strategies in the implementation of green strategies, mainly discusses the bottleneck factors that restrict maritime logistics management, and proposes that the main problems in maritime logistics management are vague management concept, unscientific strategy formulation, and he maladjustment of maritime logistics culture, etc. On the basis of learning and introducing Singapore maritime logistics network management philosophy and practical experience, the...
Words: 1510 - Pages: 7
...with its Dialogue Partners and other regional organization based on equal partnership and mutual respect. The challenges and purpose solutions There are four challenges that appear to the ASEAN Vision. The four challenges to the ASEAN vision is that some business people will lose out. This is will touch on the failure to achieve the failure to achieve the production efficiency. Second challenge of the ASEAN is lies in convincing the relevant agencies of each country to change their rules to facilitate capital flow. On this challenge, we will define the element that deal with the challenge, there are withholding tax and exchange control. The third challenge is the improving the professional standards across ASEAN. This is involve the accounting, auditing, valuation of real estate, standard of rating agencies, and other activities that support the financial...
Words: 4543 - Pages: 19
...Political: In Singapore, the state has taken on the role of promoter and practitioner of Corporate Social Responsibility, a logical development in view of the dominant role of the government in the local economy. The Economic Development Board Act exists to stimulate the growth, expansion and development of Singapore’s economy. A good example of the role the Singapore government has played in fostering economic growth is the Changi airport and the Singapore Airlines. The Singapore government investment and holding company, Temasek Holdings is the majority shareholder with 54% shareholding of the Singapore Airlines. However, the Singapore government has regularly stressed its non-involvement in the management of the company. The Singapore government also owns Changi Airport that was developed in 1975 to replace the Paya Lebar Airport. Both of these enterprises have become enormously successfully and are a good example of the thoughtful and forward-looking economic policies promoted by the Singapore government. Singapore is an enterprise friendly country. The government has set ups several organizations in helping the business in a very systematic way: 1. Regulation Structure (a)Ministry of Trade and Industry (MTI): It’s mission is to make Singapore a leading global city of talent, enterprise and innovation. Its mission is to promote economic growth and create jobs, so as to achieve higher standards of living for all. The vision of the Ministry of Trade and Industry...
Words: 1597 - Pages: 7
...ACC201e Financial Accounting Assignment 2 – Group-based Assignment January 2012 Presentation ACC201e Assignment 2 Group-based Assignment This assignment is worth 30% of the final mark for ACC201e Financial Accounting. The cut-off date for this assignment is 23 February 2012, 2359 hrs. This is a group-based assignment. You should form a group of 3 members from your seminar group. Each group is required to upload a single report to MyUniSIM via your respective seminar group. Please elect a group leader. The responsibility of the group leader is to upload the report on behalf of the group. It is important for each group member to contribute substantially to the final submitted work. All group members are equally responsible for the entire submitted assignment. If you feel that the work distribution is inequitable to either yourself or your group mates, please highlight this to your instructor as soon as possible. Your instructor will then investigate and decide on any action that needs to be taken. It is not necessary for all group members to be awarded the same mark. ____________________________________________________________ _______________ Part A Classic Company produces wood cabinets. Lately, the company is experiencing financial difficulties. While demand for its cabinets over the past several years has been steady, customers are switching to cheaper and more eco-friendly recyclable cabinets. At the same time, the company has to cope with rising costs and lower...
Words: 1343 - Pages: 6
...Services Tax (GST) in the Singapore Construction Industry Low Sui Pheng and Carol P.W. Loi Introduction The Goods and Services Tax (GST), to be pegged at 3 per cent across the board for the first five years, was introduced by the Singapore Government on 1 April 1994. While this may just be another tax for many businesses, the rules and regulations governing the mechanism of this tax are entirely different from what companies and individuals have so far experienced from corporate and personal income tax respectively. Because GST is a transaction-based tax, it is levied at every stage of the business process and will finally be borne by the end consumers. Businesses registered for GST purposes become in essence the taxcollecting agents for the Inland Revenue Authority of Singapore (IRAS). The manner in which businesses have traditionally been conducted will need to be changed. There will also be changes to both external and internal documentation to be maintained by GST-registered businesses. Like Value Added Tax (VAT), GST is a tax on domestic consumption. It is paid when money is spent on goods or services, including imports. It is not paid when money is saved and invested in productive capability. A business will therefore charge GST on the output it sells (called the “output tax”), pays a tax on materials and services it buys (called the “input tax”), and hands over to the tax authority the difference between its output tax and input tax in each accounting period. Conceptually...
Words: 7476 - Pages: 30
...companies globalizing ASIA 2.0 (2006 – 2020) CONSUMER SHIFT MADE IN ASIA MADE FOR ASIA INNOVATION SHIFT THE WORLD’S FACTORY and BACK OFFICE THE WORLD’S LABORATORY and KNOWLEDGE OFFICE JOBS SHIFT CHEAP and PRODUCTIVE WORKFORCE CREATIVE and INNOVATIVE TALENT Asia Advancing - Innovation Tata Nano : the $3,000 car was conceived and developed in India LG LX9500 : the world’s first 3D LED TV Mac 400 : a hand-held cardiogram ($800) developed by GE in India Kaohsiung Stadium : World’s first solar powered stadium – in Taiwan The USB Credit Card : developed by Shinhan Card in Korea Eko Hybrid: World’s first hybrid 2-wheeler ($500) – in Bangalore F1 Night Race : World’s first night race in Singapore Harmony Express: World’s fastest train (394 kmph) in China Four Leadership Styles Leaders most likely to succeed in Asia 2.0 will be open and adaptable “Energizers” and collaborative “Integrators” Asia 2.0-Ready Talent Across the Region Reviewing 1,246 executives and 642 managers who were finalists for top-level jobs, few had the competencies needed for the future “Be the change that you want to see in the world.” world.” Mohandas Gandhi The Case for Diverse Boards and Study of...
Words: 1288 - Pages: 6
...The Emerald Research Register for this journal is available at www.emeraldinsight.com/researchregister The current issue and full text archive of this journal is available at www.emeraldinsight.com/0268-6902.htm The changing role of the auditors R. Jayalakshmy, A. Seetharaman and Tan Wei Khong Faculty of Management, Multimedia University, Cyber Jaya, Malaysia Abstract Purpose – To highlight the pressures that the auditors would face in the era of globalisation and the challenges they should be willing to accept in order to maintain trust and integrity. Design/methodology/approach – A wide range of articles and journals published in international journals as well as local journals has been reviewed. The areas covered include audit fraud, true and fair view interpretation, auditor independence and role of internal auditors. Further, ideas have also been obtained from critical write-ups in the business magazines on the fall of multinationals. Findings – A wide range of interpretation has been given by various groups of people on their understanding of the phrase “true and fair”. This has created great confusion as to the interpretation of the audit reports. This has been proven by the fall of many multinationals and the audit pioneers, Andersens. This is one of the causes of audit fraud and it is also seen that as the auditors face an enormous challenge as they enter the twenty-first century, they should be willing to change their attitudes towards their clients. Professionalism...
Words: 12579 - Pages: 51
...Limited ed Annual Report 2012 Like Reading LIKE READING become a publisher of textbooks, arts and literary books as well as magazines for children and adult. During his life, he published notable works on Chinese Literature from Malaysia as well as stories for youth: The Historical Scripts of New Chinese Literature in Malaysia ( ), Nanyang Digest ( ), Nanyang Literature ( ), World Youth ( ) and World Children ( ). Such publications were welcomed by readers, young and old. They were knowledge and cultural nourishment dearly needed at that time. In the 1980s, the education in Singapore and Malaysia took a sharp and critical turn, resulting in the decline of Chinese language. The current Chairman of POPULAR, Mr Chou Cheng Ngok, remains resolute in upholding the mission of his father to preserve the heritage of the Chinese culture. Starting in 2006, POPULAR has been organising the annual BookFests in Singapore, Malaysia and Hong Kong. In doing so, POPULAR continues to attract not only regular POPULAR customers but also fervent book readers from all walks of life. Our BookFests have grown into a fullscale cultural platform for book publishers and booksellers to interact and exchange ideas. Technology advances rapidly. E-books pose a threat to physical books. Heavy discounts offered by online bookstores put brick-and-mortar bookstores on the defensive. The spell of doom seems to cast over the independent...
Words: 41217 - Pages: 165
...domestic case, accounting is an information service that provides financial information about a domestic entity to domestic users of that information. International accounting is distinctive in that the entity being reported on is either a multinational company with operations and transactions that transcend national boundaries or involves an entity with reporting obligations to readers who are located outside the reporting entity’s country of domicile. 2. Advantage: Some might argue that measurement, disclosure, and external auditing are three distinct (although related) processes, involving different members of the company. For example, corporate attorneys often are involved in disclosure issues, but seldom intervene in measurement issues. The Board of Directors works with the external auditors but not necessarily with the comptroller s office. Thus, discussion of accounting requirements and voluntary accounting choices in different jurisdictions is simplified by focusing on the three components of accounting. Disadvantage: measurement, disclosure and auditing are interdependent, and should not be viewed in isolation of one another. A company choosing to disclose as little as possible, for example, may use accounting measurement approaches that reduce the information content of financial statements, and select an external auditor who will be relatively lenient in enforcing accounting requirements. One alternative classification might include accounting (measurement and...
Words: 3929 - Pages: 16
...singapore airlines annual report 2009/2010 Singapore Airlines achieved a net profit attributable to equity holders of S$216 million for the financial year ended 31 March 2010. During the first half of the year, demand for air travel declined due to the global economic slowdown as well as the outbreak of Influenza A (H1N1). The Group recorded a net loss attributable to equity holders of S$466 million for the first half of the financial year. Despite the difficult times, the Airline did not lose sight of its commitment to delivering product and service innovation. Singapore Airlines continued to invest in its long-term future by flying its flagship aircraft, the Airbus A380, to more destinations, rolling out a cabin renewal programme for selected Boeing 777 aircraft, and opening a new service centre in the heart of Singapore’s premier shopping belt. Market conditions gradually improved in the second half of the financial year. Reflecting this, the Airline recorded higher passenger and cargo traffic. Together with the S$404 million net profit in the third quarter, the fourth quarter net profit of S$278 million reversed the S$466 million loss recorded in the first half of the financial year. The business outlook for the Group in FY 2010-2011 is encouraging, although the sustainability of the recovery depends on developments in the world economy and on business and consumer confidence. The Airline plans to increase capacity in a measured manner in the new financial year. This...
Words: 68860 - Pages: 276
...Singapore I. Introduction Singapore officially the Republic of Singapore, is an island city-state located at the southern tip of the Malay Peninsula. The population of Singapore including non-residents is approximately 4.86 million. Singapore is highly cosmopolitan and diverse with Chinese people forming an ethnic majority with large populations of Malay, Indian and other people. English, Malay, Tamil, and Chinese are the official languages. Singapore is a parliamentary republic, and the Constitution of Singapore establishes representative democracy as the nation's political system. In 2009, the Economist Intelligence Unit ranked Singapore the tenth most expensive city in the world in which to live—the third in Asia, after Tokyo and Osaka. The 2009 Cost of Living survey, by consultancy firm Mercer, has ranked Singapore similarly as the tenth most expensive city for expatriates to live in. II. Body Singapore has a highly developed market-based economy, an export driven economy hugely dependant on export of goods to other countries. The economy depends heavily on exports and refining imported goods, especially in manufacturing. The manufacturing industry is well-diversified with significant electronics, petroleum refining, chemicals, mechanical engineering and biomedical sciences manufacturing sectors. Gross Domestic Product: Singapore has one of the highest GDP per capita in the Southeast Asia. Singapore is proclaimed as one of the four Asian Tigers because...
Words: 1150 - Pages: 5
...Employment Outlook and Salary Guide 2012/13 a tOOl fOr wOrkfOrcE planninG Singapore rEcrUitMEnt i OUtSOUrcinG i cOnSUltinG Contents 4 6 8 11 15 16 18 22 24 26 27 29 Executive Overview Introduction Accounting & Finance Banking & Finance Call Centre Engineering & Technical Healthcare & Life Sciences Human Resources Information Technology Office Support Procurement, Supply Chain & Logistics Sales, Marketing & Advertising kelly Services, inc. (naSDaQ: kElYa, kElYB) is a leader in providing workforce solutions. kelly® offers a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, contract and permanent basis. Serving clients around the globe, kelly provides employment to more than 550,000 employees annually. kelly has been at the forefront of the recruitment industry for over 60 years and has set the industry benchmark with innovative recruitment and retention strategies. we pride ourselves on delivering a high level of customer service and providing the right talent in accordance with our clients’ requirements. all our candidates undergo a stringent screening process to ensure they are the best possible fit for the job. for more than 30 years in Singapore, and with offices across the island, kelly has in-depth experience working with Singapore’s leading companies and delivering the best talent available. kellyservices.com.sg All rights reserved. No part of this book may be reproduced or transmitted...
Words: 11189 - Pages: 45
...Shaik Abu Bakar Mattar Independent Director Mr. Yap Chee Keong Independent Director Capt. Gerard Yeap Beng Hock Non-Independent Director remuneration committee Mr. Hsieh Fu Hua (Chairman) Mr. de Vaz Don Emmanuel Maurice Rosairo Ms. Rachel Eng Yaag Ngee Mr. Joseph Yuvaraj Pillay Mr. Yap Chee Keong risk management committee Mr. Joseph Yuvaraj Pillay (Chairman) Mr. Hsieh Fu Hua Mr. Lang Tao Yih Arthur Mr. Po’ad Bin Shaik Abu Bakar Mattar Capt. Gerard Yeap Beng Hock company secretary Ms. Joyce Fong registered office 17 Changi Business Park Central 1 #04-06/09 Honeywell Building Singapore 486073 Telephone number: +65 6422 2200 Facsimile number: +65 6422 2310 audit committee Mr. Po’ad Bin Shaik Abu Bakar Mattar (Chairman) Mr. de Vaz Don Emmanuel Maurice Rosairo Mr. Lee Chong Kwee Mr. Yap Chee Keong bankers Australia and New Zealand Banking Group Limited DBS Bank Ltd Standard Chartered Bank United Overseas Bank Limited Westpac Banking Corporation executive committee Mr. Joseph Yuvaraj Pillay (Chairman) Mr. de Vaz Don Emmanuel...
Words: 45048 - Pages: 181
...statement as set out by the Financial Accounting Standards Board (FASB), which their standards are generally principle-based. In the following paragraph, this paper attempts to evaluate the significances of principle-based stands first and some discussion of whether the Interpretation Committee is necessary in world with global principle-based standards. The Interpretation Committee would review on a timely basis widespread accounting issues that have arisen within the context of current IFRSs. The goal of Interpretation Committee is reaching consensus on the appropriate accounting treatment and providing authoritative guidance on those issues (IFRS, 2011). First of all, the fundamental benefit of principle-based standards is that its broad guidelines can be practical for a variety of circumstances. Broad principles may avoid the pitfalls with precise requirements which that allow contracts to be written specifically to control their intent. Besides, broad guidelines might improve the representational faithfulness of financial statements. Moreover, the principle-based standards are based primarily on the fundamentals of accounting with an appropriate level of specificity and implying extensive opportunities for professional judgment. At the same time, the professions of financial statement would be strengthened if people are required to utilize their judgment instead of relying on those detailed rules. Again, principle-based standards provide a comprehensive basis and have...
Words: 605 - Pages: 3
...[pic] Case Analysis The COLLAPSE OF BARING BANK (Individual Assignment) BU 041 Why Corporate Social Responsibility Matters Name: Ou Yang Ning Xiao Term: January 2012 Lecturer: Mr. Issac Leung Due Date: 29th February 2012 Words count: 2133 words TABLE OF CONTENT Executive Summary-----------------------------------------------------Page 3 Introduction-------------------------------------------------------------- Page 4 CSR Problem within the Barings Bank----------------------------- Page 5 FIVE Acts to Prevented Leeson from Destroying the Bank---- Page 7 Why SOX not Prevent the Fraud------------------------------------ Page 9 How monitor the ethical standard----------------------------------- Page 10 Conclusion---------------------------------------------------------------- Page 11 Reference----------------------------------------------------------------- Page 12 Executive Summary This report is through the case analysis about the collapse of Baring Bank, to talk about how the corporate social responsibility influences a company. Through the related CSR problems in Baring bank and trying to find what matters that the organization lack of. In addition to know more about how CSR effect the global business environment, depends on the Sarbanes-Oxley Act, the report talk about the five acts can possibly prevented Leeson to destroy the company. And also discuss why the SOX act is not effective which lead...
Words: 2214 - Pages: 9
