The Asian Development Bank (ADB) has signed an agreement with Standard Chartered Bank to support supply chain financing in Asia, the first partnership of its kind under ADB’s recently launched Supply Chain Finance (SCF) program.
Bank of America Merrill Lynch has announced the launch of Accelerated Payments to Asia, a solution that aims to improve the speed and efficiency with which banks and corporations make high value U.S. dollar payments to Asian markets.
The Association of Chartered Certified Accountants Singapore has announced a new partnership initiative with Aventis School of Management, Singapore. Effective October 2013, the partnership will allow ACCA members and affiliates to undertake a one year Masters’ degree, Master of Science in Accounting and Finance, which has been designed especially for them.
Corporate and indirect tax rates around the world are in a constant state of change as governments look to increase indirect rates to raise revenue but to decrease corporate tax rates to attract investment.
The Chinese yuan strengthened against the U.S. dollar by 37 basis points to 6.3010 Friday, following a series of positive Chinese economic data, including a rebound in exports and a wider trade surplus.
While the time it takes for Singapore SMEs to pay their bills has generally remained steady during the last three months, there has been an increase in bills which remain unpaid 90 days after they are due. In Q1 2012, 23 per cent of all monies owed across all industries remained unpaid 90 days after the debt was due, an increase of 5 per cent from Q4 2011.
With cash-rich corporates all over the world looking to enhance their presence in the region, Asia is likely to hold onto its top spot in terms of mid-market M&A volumes in 2012, according to Deloitte’s latest M&A report.
Aei Corporation Ltd. has appointed Lum Soh Ping as Chief Financial Officer. Lum will be responsible for managing the group’s various accounting, financial control and reporting functions, including tax matters and management information system. Prior to the appointment, Soh was Finance Manager of the company from 2008.