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    • SingCham is the premier business chamber for Singaporean interests in Indonesia. Founded in 2006, SingCham aims to promote the business interests of individuals or companies operating in Singapore and/or Indonesia. SingCham provides networking activities, events, and useful information for its members, and acts as the liaison between the Singaporean business community and the Singapore and Indonesian governments. With a focus on fostering better networking and feedback among members, SingCham is committed to providing valuable resources and insights to help members connect, learn, and grow their businesses in Indonesia. Join SingCham today and become part of a thriving business community that benefits from exclusive resources, networking opportunities, and business insights.

    29Nov, 2018
    Go-Jek revs into Singapore market with launch of beta app

    Ride-hailing company Go-Jek launched the beta version of its app in Singapore on Thursday (Nov 29), kicking off the roll-out of its services across the island.

    During this beta phase, Go-Jek said access to the app will be granted in batches to balance ride demand and service capabilities.

    At the initial stage, the app will be made available only in limited areas in Singapore. It can be downloaded from iOS and Android app stores in Singapore from Thursday.

    Read more: Channel News Asia

    22Aug, 2018
    Apple reports an almost 40 per cent fall in 2nd quarter earnings as global smartphone shipments slow

    Shares in AAC Technologies Holdings, a major supplier of components to Apple, briefly fell to their lowest intraday level in 18 months on Wednesday after a slowing global smartphone market pushed the company’s earnings in the latest quarter below expectations.

    22Aug, 2018
    Asian markets mostly up ahead of trade talks, Trump fears ease

    Asian markets mostly rose Wednesday before keenly awaited trade talks between China and the United States, while early worries over a double whammy for Donald Trump also eased.

    While not expecting a major deal when officials from Beijing and Washington meet, investors are hopeful they can find a way out of the months-long row that has seen tariffs imposed on billions of dollars of goods and stock markets tumble.

    Recent comments from US Commerce Secretary Wilbur Ross, signaling plans to delay a final decision on whether to impose duties on auto imports, have also provided some cheer.

    Tokyo and Hong Kong both ended 0.6 percent higher, while Seoul and Taipei each put on 0.1 percent and Wellington closed up 0.5 percent. Manila and Jakarta were also well up.

    However, Shanghai finished 0.7 percent down while Sydney shed 0.3 percent, with political uncertainty in Canberra adding to selling pressure.

    (read more: The Jakarta Post)

    14Aug, 2018
    As emerging markets take a battering from Turkey’s turmoil, traders are positioning themselves to ride out the pain.

    As emerging markets take a battering from Turkey’s turmoil, sending stocks and bonds toward their lowest this year, traders are positioning themselves to ride out the pain.

    Traders pushed down the value of emerging market assets Monday as Turkish assets sank, before stabilizing on Tuesday. The carnage in Turkey added to an already fragile landscape amid tensions between the U.S. and other major economies such as Russia and China. While some investors say bargains are already emerging, others bet the best option is to sell stocks and bonds and put their money into cash.

    Here’s what analysts and investors are saying:

    Kevin Daly, a money manager at Aberdeen Standard Investments in London:

    • The almost-$800 billion investment group sold some emerging-market holdings on Monday to increase its cash positions.
    • Daly sees few signs the Turkish rout will end soon and says emerging markets as a whole could be in for further pain.
    • “Playing a market like this is difficult,” he said. “There aren’t any obvious safe zones.”

    (read more: Bloomberg)

    13Aug, 2018
    Trade spat may burden tire manufacturers

    With no end in sight to trade tensions between the United States and China, domestic tire producers may bear the brunt of the spat as a revision to a ministerial regulation has made it easier for tire products to enter the Indonesian market, Fitch ratings agency has said in a statement.

    Trade Ministry Regulation No. 6/2018 effectively authorizes imported products, in this case tire products, to be checked outside of customs, as part of the government’s broader effort to debottleneck lines of goods checked in customs areas in a bid to improve efficiency.

    “The revised regulation has simplified the procedure for tire imports, and gives incentives to overseas manufacturers to sell more products to Indonesia,” Fitch said in a statement. “The situation is crippled further by the imposed tariffs on China’s exports to the US, including tire-related products, which may force Chinese manufacturers to divert trade to new markets, including Indonesia.”

    However, the agency said the recovery of automotive sales in the first half would likely offset the short-term negative impact for local tire manufacturers as both car and motorcycle sales recorded doubledigit growth in the first half.

    Trade Ministry data show that tire imports increased to US$158 million in the first half of the year, a 90 percent year-on-year (yoy) increase from the $83 million earned over the same period last year.

    “Imported tires would flood the local market if the trade war continues in the long-term, which we believe may further undermine the business profile of local manufacturers that are already in an oversupplied market environment,” Fitch said.

    (source: The Jakarta Post)

    9Aug, 2018
    China’s July 2018 factory inflation slows but consumer prices accelerate

    China’s factory price inflation cooled in July but not as much as expected, amid a wider slowdown in economic growth as Beijing remains locked in a heated trade dispute with Washington.

    However, consumer inflation picked up from the previous month, largely due to a rise in non-food prices, official data showed on Thursday.

    The July inflation data is the first official reading on the impact on prices from China’s retaliatory tariffs on $34 billion of U.S. good that went into effect on July 6 and apply to a range of products from soybeans, to mixed nuts and whiskey.

    While policymakers are watching price pressures, the central bank is likely to give priority to policies that help shore up the slowing economy.

    The producer price index (PPI) — a gauge of factory gate inflation — rose 4.6 percent in July from a year earlier, compared with an acceleration to 4.7 percent in June, according to the National Bureau of Statistics

    (Source: Reuters)

    25Jul, 2018
    Most middle-market Singapore firms see 6% or more growth this year: EY

    Middle-market firms in Singapore are brimming with optimism this year, with nine in 10 expecting growth in excess of the global average growth rate of 6 per cent, according to the annual EY Growth Barometer released on Wednesday (July 25).

    Middle-market firms are those with sizeable annual revenues that fall centrally within the market in which they operate. Thus, they straddle the middle market between smaller companies and the billion-dollar giants.

    Singapore ranked fourth for growth expectations in Ernst & Young’s survey of 2,766 middle-market executives across 21 countries, including 103 from Singapore.

    Just under two-fifths of the Singapore respondents are aiming for growth of more than 10 per cent for the year, compared with about a quarter of respondents globally. Another 51 per cent of Singapore respondents are targeting growth of 6 per cent to 10 per cent.

    Said EY global growth markets leader Annette Kimmitt: “We are seeing a rare synchronisation of growth across all major global economies that is boosting executive confidence, particularly led by the Asia-Pacific region. For the first time, middle-market company leaders are getting ahead of change and shaping their businesses through investment, expansion and prioritisation to ride the wave of opportunity.”

    For Singapore respondents, the most-cited growth strategies were overseas expansion (30 per cent) and mergers and acquisitions (19 per cent). However, a quarter of respondents also plan to divest part of their business.

    (Read more: The Strait Times)

    11Jul, 2018
    US-China trade war: China vows ‘countermeasures’ to proposed US$200 billion US tariffs

    China on Wednesday (July 11) vowed to take “countermeasures” after the United States said it would slap 10 per cent tariffs on an extra US$200 billion worth of Chinese imports.

    “The Chinese government as always will have no choice but to take the necessary countermeasures,” said China’s ministry of commerce in a statement, without elaborating further.

    The ministry said it “solemnly protests” the latest tariff list published by Washington, calling it “totally unacceptable.”

    (Read More: The Strait Times)