Professor Pushan Dutt on impact of India-Pakistan conflict on Singapore
India and Pakistan have confirmed aerial assaults, as both continue with retaliatory action after heavy cross-border fire that reportedly killed at least 45 people. Pushan Dutt, Professor of Economics and Political Science at INSEAD, discusses how Singapore might be affected by the ongoing India-Pakistan conflict. He talks about the impact on the larger ASEAN region and on Singapore's trade with India.
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The employees, who spoke on condition of anonymity, said the company had delayed the payment of salaries owed for May. Retrenchment notices attributed this to the firm's "pending liquidation". They also took issue with the severance pay of two weeks' salary for every year of service completed, especially for surveyors who rely on overtime pay and allowances to supplement their basic salaries. Junior surveyors earn less than S$1,000 in basic salary a month, while more senior surveyors may earn between S$1,000 and S$1,500, two of the employees said. According to the employees, CCIC Singapore is not unionised. Individual workers have reached out to the National Trades Union Congress (NTUC) and the Tripartite Alliance for Dispute Management (TADM) for assistance. CNA has contacted CCIC Singapore, its parent company CCIC, the Ministry of Trade and Industry and NTUC for comment. US SANCTIONS CCIC Singapore was set up in 1989 and has its registered address at Singapore Science Park. Its customers include Shell, BP, Total, Exxon Mobil and major Chinese petrochemical corporations, according to CCIC's website. Parent company CCIC was established in 1980 and is part of China's State-Owned Assets Supervision and Administration Commission of the State Council. The US blacklisted CCIC Singapore for helping to obscure the origins of Iranian oil, which is typically done through numerous ship-to-ship transfers, oil blending and false documentation. Sepehr Energy, which is a front company of Iran's military, "consistently relied" on CCIC Singapore for cargo inspections of oil being delivered to China, according to the US Treasury Department. In 2024, CCIC Singapore provided inspection services during a ship-to-ship transfer of about 2 million barrels of Iranian oil from a sanctioned vessel. That same year, the firm also "likely provided" falsified documents to conceal the identity of another sanctioned vessel and certify its cargo of Iranian oil as Malaysian crude. 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There will be no disruption to your roles, responsibilities, or employment terms." However, a day later, employees received another email from the HR department asking them to "disregard" the email from the day before. It made reference to an "internal restructuring initiative" but continued to assure employees that they would receive their salaries and claims as usual. On May 16, heads of department were asked to identify key staff members in preparation for a downsizing exercise. They were also informed that CCIC Singapore was "not in a position" to pay retrenchment benefits as its bank accounts had been frozen. A week later, a company-wide email said that salaries would also be delayed due to the freezing of accounts, and that the firm's managing director was going to Beijing for "high-level discussions". Employees received their retrenchment notices on May 30. 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