Dear Valued Customers,
Hello again! We’re already on our second newsletter for 2021! Things are certainly looking up and we’ve had an extremely busy but fulfilling month.
First, let’s look at some updates happening in Singapore.
We Are Asia Pacific’s First Robotics Accounting Firm
An impressive start to the year indeed as 3E Accounting marks a key milestone as Asia Pacific’s first Robotics Accounting Firm featured in Yahoo! Finance – the largest business and financial news site in the world. This is a testament to our team’s innovative business and technology advisory capabilities.
3E Accounting Recommended for Accounting and Incorporation Services
BestinSingapore is one of the most influential websites in the region for corporate products and services online reviews. 3E Accounting is recommended by BestinSingapore as one of the top choices for accounting, book-keeping, company registration and incorporation services. We are proud to be recognised for providing professional services beyond excellence.
The Budget Reveal in February
Singapore’s 2021 Budget will be announced on 16 February 2021. Singapore’s Deputy Prime Minister and Finance Minister has given the assurance that the Government is ready for all economic contingencies. If the economy is on course for recovery, then Budget 2021 will be more ‘traditional’. However, if the situation takes a turn for the worst, the Government is prepared and ready to adapt accordingly.
With Singapore covered, let’s move on to what’s happening in Malaysia.
Malaysia’s Steady Economic Recovery Is Boosting Business Confidence
Good news on the business front in Malaysia. According to the Malaysian Institute of Economic Research (MIER), Malaysia is on track for a steady economic recovery, which is music to investors’ ears. MIER’s recent findings were published in the Business Conditions Survey Report. While Malaysia’s second-quarter (Q2) 2020 saw a significant drop of 22.0 points, the third-quarter (3Q) 2020 performed at a better rate with steady signs of economic recovery. Q3 recorded a small rise of 25.3 points on the Business Conditions Index (BCI), bringing the index right up to 86.3 points. Compared to the previous year’s performance of -39.7 points, this is a favourable increase as it features an expansion rate of +17.2 points. While the recovery is considered modest, it is nevertheless reflective of the rising confidence from manufacturers.
Let’s turn to what’s happening on the Hong Kong front.
Government Aid for Financial Services Industry Amidst Pandemic
Hong Kong’s Government is committed to supporting economic recovery efforts. This is evident by the $180-million budget that it has allocated to help generate 1,500 new jobs for the financial services industry. This comes amidst higher unemployment rates due to the COVID-19 pandemic. The Secretary for Financial Services and the Treasury said that the financing was under the Government’s Anti-Epidemic Fund.
Clinching 6 Awards at the ACQ5 Global Awards 2020
Finally, I couldn’t be more proud of how well our 3E Accounting teams work together. From Singapore to Malaysia and Hong Kong, we have always strived to provide first-in-class service and it is remarkable to watch all our hard work being recognised. Despite stringent criteria and fierce competition among many remarkable finalists at the ACQ5 Awards, 3E Accounting took home a total of 6 prestigious ACQ5 awards in 2020. ACQ5 is a leading corporate magazine news site, read exclusively by influential senior executives in the industry. Since the launch of ACQ5 Awards in 2005, the awards stood out as a first in the global legal and financial publishing industry.
That is a snapshot of some of the exciting highlights that have taken place around the region since January. A strong start to the year indeed, and I look forward to working with our many clients in the region and beyond. Until next time, stay safe!
Thank you.
Lawrence Chai
Founder, 3E Accounting Group
Read More in our E-Newsletter February 2021.
