E-Newsletter June 2021
Welcome to our June newsletter! Hopefully, everyone is staying safe as we gradually recover from the effects that the pandemic has left us with last year.
Here are some of the updates happening in Singapore since we last caught up:
Recent Graduates and Mid-Career Employees Equipped with Skills They Need to Be Industry-Relevant
As you may recall, the SGUnited Traineeship programmed was launched last year. Ever since the launch, it met great success. 7,600 recent graduates and 1,900 mid-career workers were part of the program. The latter group took part in the SGUnited Mid-Career Pathway programme.
In total, there were 9,500 Singaporeans who took part and benefitted from the programme since its inception. As of February this year, approximately 200 individuals successfully secured full-time employment while they were undergoing the programme. Aside from the individuals, there are 2,500 organisations who also participated in the programme, including public agencies. These companies are offering either attachments or traineeships. Some of these companies are Small and Medium Enterprises (SMEs).
$8,000 Cash Grant Granted to Support Recovery and Growth Amidst the Pandemic
More than 100 SMEs have been granted $8,000 cash grant to help them cope with the recovery and growth amid the pandemic. Grants were given to help these SMEs cover the cost of their operations. This includes rent and maintaining the employee payroll. Grants were also given to help the SMEs seek assistance for their business transformation, and help them adopt technology while the Covid-19 pandemic is still ongoing.
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On the Malaysian front, here's what we have to share:
Malaysia's Agriculture Ministry Encourages Farming Community to Make Use of Latest Technology to Sell Products Online
Malaysia's Agriculture Ministry is encouraging the local farming community to use technology to their advantage and sell their farming products online. The Agriculture and Food Industries (Mafi) Ministry is urging the local farming community to adopt technology such as e-commerce platforms.
E-commerce platforms would help farmers market their products online to generate sales. It was important that the community does this since technology has a proven track record of boosting sales. There is evidence that proves technology is effective at generating sales. Mafi made more than RM300 million worth of agricultural sales revenue from e-commerce platforms alone. These platforms were developed when the Covid-19 pandemic made it necessary in 2020.
These online platforms are run by the National Fishermen's Association (Nekmat), Federal Agricultural Marketing Authority, and Farmers' Organisation Authority (LPP).
On the Hong Kong front, updates centre around augmented reality and an increase in retail sales:
Hong Kong's New Tourism Project Uses Augmented Reality to Bring Historical Locations to Life
Hong Kong launched an exciting new tourism venture and it is called the City in Time. This tourism project will be enjoyed by both the locals and the tourists as history comes alive like never before.
Designated locations around the city have been installed with augmented reality (AR) markets. These markers are installed on redesigned sign poles that complement local architecture elements. The markers have been designed to blend in and complement the local features of the area. Seven locations in Central will be covered in the first phase of the project, and six locations will be covered in Tsim Sha Tsui. Simply download and install the City in Time mobile app and use the AR feature to watch the city come alive. It will be remarkable to see historical panoramas come to life in 360-degree right before your very eyes through your phone.
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Total Retail Sales in Hong Kong See 30% Increase Compared to 2020 Of the Same Month
Retail sales in Hong Kong are on the upswing, approximately $29.5 billion in February, experiencing a 30% increase compared with the same month of last year. The figures, released by Hong Kong's Census and Statistics Department notes that retail sales tend to be volatile within the first two months of the year. The volatility is attributed to the Lunar New Year.
Given this, the Government is comparing the total sales figures for January and February. The government also looked at the sales value of electrical goods, alongside other durable consumer goods. These experienced an increase of 34.3%.
Until next time, stay safe and healthy.
Lawrence Chai
Founder, 3E Accounting Group
Read More in our E-Newsletter June 2021
Category: E-NewsletterBy 3E Accounting Singapore June 16, 2021
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