Last year, Singaporean chemicals factory boss Erman Tan took his employees on a ...
SINGAPORE - Last year, Singaporean chemicals factory boss Erman Tan took his employees on a cruise to the Malaysian island of Penang. This year, Tan says the best he can offer is to watch a video of the trip.
There is also speculation that the government could provide incentives to boost growth, but businesses like Tan’s don’t expect fiscal or monetary policy to be enough to arrest an economic decline that is mostly a result of a global slowdown. Singapore must expect some fallout from global trade disruption, Prime Minister Lee Hsien Loong told reporters in Bangkok over the weekend.
Kong has asked his workers to turn off air-conditioning units when they leave for lunch and to stop printing in color.Electronics exports, a major driver of Singapore’s growth over the past two years, saw their biggest decline in more than a decade, hit by a global downturn in the semiconductor industry, data showed last week.
“Singapore businesses won’t suddenly become so competitive that we are going to be selling a lot more of our goods and services,” he said.
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