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NEWS & EVENTS Help for SMEs to continue he Government will continue to aid the growth of small T and medium enterprises (SMEs) during the current difcult period of economic restructuring, according to Deputy Prime Minister Teo Chee Hean, who is also the Coordinating Minister for National Security and the Minister for Home Affairs. Mr Teo was speaking at the Award Presentation Ceremony of the Entrepreneur of the Year Award 2013 on 4 December 2013, where he also said that government agencies like SPRING Singapore and IE Singapore will keep working with trade associations and other industry players to help SMEs. “Through these collaborative efforts, we hope to help our SMEs raise productivity, create new products, services and processes, develop human capital, and expand overseas for growth, he said. The Association of Small and Medium Enterprises (ASME) will also do its part, according to its newly minted President Mr Kurt Wee. He said that the Association is currently in talks with both SPRING Singapore and Jurong Town Corporation to further efforts in establishing on incubation centre to bridge SMEs with new knowledge-driven or technological start-ups that are relevant as an extension to their current businesses. “This will allow the deployment of old capital and established business acumen towards the new ideas thereby renewing vibrancy and creating greater sustainability and better their market attack, Mr Wee commented. Mr Wee also mentioned that ASME will explore more ways to help business cut operating costs, one example is by amalgamating and centralising business purchases of members to create cost savings through collective bargaining. E WCS Payouts by end-March 2014 he rst tranche of government T payments under the Wage Credit Scheme (WCS) will be received by employers by the end of March 2014, according to a statement issued by the Ministry of Finance on 18 December 2013. This rst payout will be for wage increases given to employees in 2013 over 2012. Employers have to ensure that their employee’s Central Provident Fund (CPF) contributions for 2012 and 2013 have been fully paid-for by 14 January 2014 in order to receive the payouts by end-March 2014. Employers will have to make the CPF contributions within 14 days from the end of each month in which CPF contributions are due. Introduced as part of the 3-Year Transition Support Package during Budget 2013, the WCS co-funds 40 per cent of wage increases given to local employees earning a gross monthly salary of no more than $4000. Eligible employers will automatically receive the payouts based on their employees’ CPF contributions from 2012 to 2013. E 4 JAN FEB 2014 ENTREPRENEURS’ DIGEST
NEWS & EVENTS Sports and Fitness Asia 2013 H eld for the rst time in Singapore from 10 to 12 October 2013 at the Singapore Expo, this inaugural sports and tness lifestyle exhibition attracted 3,400 trade visitors. This trade fair showcased the latest and innovative gym equipment, sports and tness equipment, sports apparel & sports-wear, sports medicine & nutrition products and much more. There were live demonstrations of various sporting disciplines, including pilates, yoga, bokwa and cardio training sessions that allowed visitors to have a go. A series of seminars and conferences were also organised, covering topics that included "Mind Over Matter"; "Obesity Program"; "Fitness for the Golden Age", "Professional Coach Training & Development"; "Sports, Fitness and Nutrition". E Building and Construction Myanmar 2013 s Myanmar is emerging A as one of Asia’s newest and brightest frontier markets, its infrastructure, power and mining needs present many business opportunities for both local and international companies. Building and Construction Myanmar 2013, held from 31 October 2013 to 2 November 2013 at the Myanmar Convention Centre (MCC Hall) in Yangon, Myanmar, was the industry’s largest fair. Despite being the rst of its kind, it attracted participation from 170 exhibitors from 24 countries including 3 international pavilions. B&C Myanmar 2013 delivered trade visitors from Myanmar and across Asia with a total of 3,491 visitors from 29 countries. The fair connected participants not only to visitors from across Myanmar but also to the region. This year, there were a total of nine companies participating under the Singapore Pavilion led by ASME. E JAN FEB 2014 ENTREPRENEURS’ DIGEST 5
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