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4th Quarter Newsletter 2018



Hong Kong - China - Singapore - Thailand 

Hong Kong


Key strategies for improving employee retention




Rising minimum wage in China






5 industries of the future for Singapore






Kingdom's competitiveness on the rise




5 industries of the future for Singapore

While some industries struggle to keep up with the changing economy, there are ones that are growing, and desperately in need for manpower. 


1. Healthcare

A recent United Nations report on the ageing population reported that by 2050, 40.1% of Singapore’s population will be over 60 years old. It’s no surprise that demand for healthcare workers is also increasing proportionately. In fact, the Ministry of Health has estimated that 30,000 more healthcare workers would be needed by 2020, with nurses forming the bulk of this figure. However, the same report also states that this direly-needed job is also the one that doesn’t have a high take-up rate; having the most unfilled vacancies.


2. Infocommunications and Media

Those interested to work in ICM industry can also expect to find an abundance of job opportunities. Minister for Communications and Information Yaacob Ibrahim revealed that by 2020, 16,000 more jobs would be created in the sector; with 13,000 expected to be professional, managerial, executive and technician (PMET) roles. Currently, the industry employs 194,000 people and ICM is growing at 6% a year – twice the rate of the overall economy.


3. Wholesale Trade

Often overlooked, there are actually over 34,000 wholesale trade companies in Singapore, and 325,000 people employed in the industry.

And this number is set to grow, with strong demand for infrastructure and “the rise of consumerism in the region”, shared Minister for Trade and Industry S. Iswaran. It was also then that he unveiled an industry transformation roadmap created by International Enterprise (IE) Singapore, which targets to create 10,000 new jobs in the sector by 2020.


4. Professional Services

The Professional Services is actually more diverse than many would think. Consisting of seven subsectors, namely accounting, consulting, advertising, design, legal, architecture, and engineering services. This industry is nurtured by the Economic Development Board (EDB), which believes that Singapore is a great base for professional services firms.

The Committee on the Future Economy (CFE), set up to drive the growth and transformation of our economy for the future, created a “game plan which aims to position Singapore legal and accounting firms for international growth”.


5. Financial Services

With an expected productivity growth of 2.4%, those seeking to be employed in the financial sector can look forward to not just more opportunities, but being exposed to the latest in technological advancements as well. Board member of the Monetary Authority Singapore Ong Ye Kung, who is also Minister for Education, revealed that the industry is expected to achieve a “4.3% industry GDP growth each year over the medium term, nearly twice as fast as the overall economy”. Also announced was the ambitious aim of creating 3,000 jobs in the financial services sector in the next three years. An additional 1,000 jobs in the FinTech sector will also be created each year until 2020.


Source: Workforce Singapore


Tightening policies for foreigners seeking employment in Singapore


Singapore continues to tighten its policies to hire foreigners, in order to consider locals fairly for higher-quality jobs.


Tighter Ruling In 2018

Since 1 July 2018, companies seeking to hire foreign employees on Employment Passes for positions where the fixed monthly salary is below S$15,000 must advertise the positions at the National Jobs Bank portal for at least 14 days. This applies to all companies with 10 or more full-time employees. This is an increase from a minimum salary of S$12,000 and minimum employee size of 25 and ultimately increases the number of companies that are subject to this requirement. The jobs portal, launched in July 2014, is exclusively for Singaporean citizens and permanent residents.

In addition, the minimum qualifying salary for an S-Pass has increased to S$2,300 from 1 January 2019 and S$2,400 from 1 January 2020. The S-Pass is meant for mid-skilled employees such as technicians and supervisors. 


Existing S-Pass holders whose passes expire will have to comply with the new criteria. The Fair Consideration Framework (FCF), launched in 2016, monitors companies with non-compliant hiring practices and has added 500 companies for unfairly favouring foreigners to an online watchlist. Employment Pass applications by these companies have either been rejected, withdrawn or withheld by the Ministry of Manpower. 


Foreign dependents of work visa holders are also affected. From 1 January 2018, work visa holders will need to meet the minimum salary criteria of S$6,000 to bring their spouse and children and a minimum salary of S$12,000 to bring in their parents. This is an increase from S$5,000/month and S$10,000 a month respectively. 


Source: Ministry of Manpower


Top 5 Candidates in Singapore


Regional Finance Director, APAC (Gaming Industry)


Nationality: Singaporean                   Availability: Immediately

Based: Singapore

Languages: English and Mandarin


- Finance leader with more than 20 years of experience in accounting, treasury, financial planning and internal control matters in multinational corporations

- Offers expertise in financial analysis, financial planning, project cost management, cost reduction, credit management and business process outsourcing

- Worked with joint venture partners in Thailand, Taiwan and China


Head of Business Technology – APAC (Finance & Insurance)


Nationality: Canadian                  Availability: Immediately

Based: Singapore

Languages: English


- Successful IT Professional and thought leader with keen focus on defining and aligning IT strategy, capabilities and capacity with business vision

- Experience in establishing, driving and socializing strategic IT vision across Regional and Global markets.


APAC Accounting Manager (e-Commerce Sector)


Nationality: Singaporean                  Availability: End of Oct 2018

Based: Singapore

Languages: English & Mandarin 



- Seasoned Finance manager with 17 years of accounting experience

- Worked with top brands like Apple South East Asia, Singapore Telecommunications


Manufacturing Manager (Oil & Gas and Petroleum)


Nationality: American                   Availability: Two months' notice

Based: Jubail, Saudi Arabia

Languages: English


- 20 years of experience in operations, leadership and management in lean manufacturing specifically for chemical and petroleum industries


Project Manager (Shipping & Maritime)


Nationality: Singaporean                Availability: 6 weeks' notice

Based: Singapore

Languages: English and Mandarin


- Highly accomplished project and operational leader with extensive success across the marine/shipbuilding industry

- Expertise extends through all business segments including sales, business strategy development, marketing, statistical analysis, and vendor


- Excels at interfacing with all project stakeholders to build effective roadmaps and quality control plans

- Adept at leading skilled project teams that continually achieve outstanding results and produce the highest quality deliverables

- Dedicated to collaborating with stakeholders across all organizational levels to drive unified approaches to successfully completing initiatives

- Demonstrated ability for improving processes, productivity, and quality as projects evolve


For more information about these candidates, please contact

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