Dear Valued Customers,

Welcome to Our October Newsletter 2024

From being featured in The Straits Times in Singapore to cross border SEZs, October has been a busy one for the 3E Accounting world, and we’re going to share an overview of what’s been happening in Singapore and our Malaysia, Hong Kong, and Indonesia counterparts.

Featured in The Straits Times on SME Challenges and Parental Leave Policies

We are proud to announce that our Director, Ms. Abigail Yu, has been featured in Singapore’s Straits Times in August. Ms. Yu was featured in an article entitled “SMEs Hope for More Support with Added Parental Leave, Large Firms Confident of Coping.” This highlights how 3E Accounting is committed to doing its part in supporting families and we are recognising the need for parents to spend more time with their children.

Cross Border SEZ Between Singapore and Malaysia Reaches Agreement

The first cross-border Special Economic Zones (SEZ) in Southeast Asia between Malaysia and Singapore is anticipating a surge in new investments to boost its economic growth. The memorandum was signed in January this year between the two countries to construct this economic zone. The aim was to allow the free movement of people and products between Singapore, which is land-constrained, and the resource-rich state of Johor.

Hong Kong’s Economy Grows 3.3% In the Second Quarter

Hong Kong’s economy grew by 3.3% in the second quarter of this year, with Gross Domestic Product (GDP) accounting for 0.4% of that growth. A large part of this growth was thanks in large part to robust goods export. The exports of goods look like they will remain strong as the Hong Kong economy grows if external demand persists. However, there is uncertainty around US interest rates because of geopolitical tensions. We’ll have to wait and see what happens next.

Indonesia and China Strengthens Labour Cooperation

Indonesia and China recently pledged stronger labour cooperation to strengthen the two nations’ bilateral relationship. Both countries are continuing to explore the possibility of expanding their existing collaboration. Both countries are going to collaborate on several initiatives, like the Vocational and Productivity Training Center (BPVP). By enhancing cooperation in areas such as vocational training and OSH standards, both countries hope to improve their workforce skills and create safer working environments.

Thank you.

Abigail Yu
Director, 3E Accounting Group