Latest news with #ASME
Independent Singapore
3 days ago
- Business
- Independent Singapore
Trade costs force 42% of Singapore firms to raise prices, HSBC finds
Photo: Depositphotos/realinemedia SINGAPORE: Rising costs due to tariffs and other trade-related factors, the biggest concern for almost six in 10 Singapore businesses, have led 42% of companies to increase their prices, according to Singapore Business Review , citing a recent HSBC report. In addition to those that have already raised prices, 44% plan to do so soon, and 42% have increased their inventory levels to manage supply disruptions. Rising costs and supply disruptions have also led eight in 10 businesses to reconsider their long-term strategies. Meanwhile, 86% say uncertainty around trade has made them more cautious to expand or invest. When it comes to international trade growth in the coming years, 83% of Singapore companies feel less confident compared to their global peers. In terms of trade dynamics, half of Singapore firms plan to increase trade with South Asia, including ASEAN, India, and China. Beyond Asia, 46% aim to trade more with Europe, and 38% with the Middle East. Last week, Ang Yuit, president of the Association of Small and Medium Enterprises (ASME), warned that some Singapore firms could go into 'life support mode' once the 90-day pause on US tariffs ends. /TISG Read also: 42% Singapore employers to expand their permanent headcount in H12025, with more focus on non-monetary perks Featured image by Depositphotos (for illustration purposes only)
Cision Canada
4 days ago
- Automotive
- Cision Canada
SANY Delivers the First Hydrogen Refueling Project to Australia, Marking a Milestone in Global Green Energy Expansion
SHANGHAI, May 29, 2025 /CNW/ -- In April 2024, SANY established a strategic partnership with an Australian customer, marking the first time that SANY has promoted its technology to the international market after building the largest integrated production and hydrogen refueling station in China. On May 20 th of this year, SANY officially delivered the custom-developed 200Nm³/h skid-mounted hydrogen producing and refueling equipment to the customer, representing a major step toward internationalizing its green energy offerings. Leading Technology Powers High-Efficiency Hydrogen Refueling The project utilizes the industry-leading flexible electrolysis hydrogen production technology, complemented by a comprehensive control system to ensure stable and efficient operation. Featuring dual-stage supercharging and hydrogen storage at 50 MPa and 90 MPa, the single-unit system can simultaneously meet hydrogen refueling needs for both 35 MPa commercial vehicles and 70 MPa passenger vehicles. This means that whether for cargo transport or daily travel, vehicles can be refueled quickly and safely at this integrated station. Global Standards Ensure Safe and Compliant Deployment To ensure the smooth entry into the Australian market, the project strictly follows the market standard in production and has been fully certified by Bureau Veritas (BV) and TÜV SÜD: AS 3000 Electrical Safety Certification: Meets the highest Australian standard—Class 2. ASME/AS1200 Dual Certification: Pressure vessels are certified for both U.S. and Australian standards with the ASME U3 stamp. A fatigue life exceeds 20,000 cycles. SAE J2601 Hydrogen Refueling Protocol Test: Refueling protocol meets international filling standards, enabling 70 MPa passenger vehicle refueling within 3 minutes. Design-Driven Development with Rigorous Safety Analysis SANY adopts a forward development process based on design fundamentals. During development, the project team conducted thorough risk evaluations and controls of both the PEM Hydrogen Production and Purification System and the High-Pressure Hydrogen Refueling System, including Hazard Identification, Hazard and Operability Study, Safety Integrity Level, and Layer of Protection Analysis. These analytical approaches enable early risk identification, laying the groundwork for safe, intelligent, and resilient hydrogen solutions. Through advanced technology, strict safety standards, and global collaboration, SANY's success in Australia marks a key step in sustainable development. SANY has been focusing on clean energy, advancing in wind, solar, hydrogen, energy storage, and microgrid technologies. "SANY is accelerating its transition toward decarbonization and green growth, contributing a green force to the industry," said Xiang Wenbo, Chairman of SANY Heavy Industry.
Yahoo
4 days ago
- Business
- Yahoo
SANY Delivers the First Hydrogen Refueling Project to Australia, Marking a Milestone in Global Green Energy Expansion
SHANGHAI, May 29, 2025 /CNW/ -- In April 2024, SANY established a strategic partnership with an Australian customer, marking the first time that SANY has promoted its technology to the international market after building the largest integrated production and hydrogen refueling station in China. On May 20th of this year, SANY officially delivered the custom-developed 200Nm³/h skid-mounted hydrogen producing and refueling equipment to the customer, representing a major step toward internationalizing its green energy offerings. Leading Technology Powers High-Efficiency Hydrogen Refueling The project utilizes the industry-leading flexible electrolysis hydrogen production technology, complemented by a comprehensive control system to ensure stable and efficient operation. Featuring dual-stage supercharging and hydrogen storage at 50 MPa and 90 MPa, the single-unit system can simultaneously meet hydrogen refueling needs for both 35 MPa commercial vehicles and 70 MPa passenger vehicles. This means that whether for cargo transport or daily travel, vehicles can be refueled quickly and safely at this integrated station. Global Standards Ensure Safe and Compliant Deployment To ensure the smooth entry into the Australian market, the project strictly follows the market standard in production and has been fully certified by Bureau Veritas (BV) and TÜV SÜD: AS 3000 Electrical Safety Certification: Meets the highest Australian standard—Class 2. ASME/AS1200 Dual Certification: Pressure vessels are certified for both U.S. and Australian standards with the ASME U3 stamp. A fatigue life exceeds 20,000 cycles. SAE J2601 Hydrogen Refueling Protocol Test: Refueling protocol meets international filling standards, enabling 70 MPa passenger vehicle refueling within 3 minutes. Design-Driven Development with Rigorous Safety Analysis SANY adopts a forward development process based on design fundamentals. During development, the project team conducted thorough risk evaluations and controls of both the PEM Hydrogen Production and Purification System and the High-Pressure Hydrogen Refueling System, including Hazard Identification, Hazard and Operability Study, Safety Integrity Level, and Layer of Protection Analysis. These analytical approaches enable early risk identification, laying the groundwork for safe, intelligent, and resilient hydrogen solutions. Through advanced technology, strict safety standards, and global collaboration, SANY's success in Australia marks a key step in sustainable development. SANY has been focusing on clean energy, advancing in wind, solar, hydrogen, energy storage, and microgrid technologies. "SANY is accelerating its transition toward decarbonization and green growth, contributing a green force to the industry," said Xiang Wenbo, Chairman of SANY Heavy Industry. View original content to download multimedia: SOURCE SANY Group View original content to download multimedia: Sign in to access your portfolio
CNA
6 days ago
- Business
- CNA
CNA938 Rewind - Singapore SMEs could go on life support as Trump tariffs hit
CNA938 Rewind Play Some Singapore companies are shelving expansion plans amid crippling United States tariffs and a global economic slowdown, while others could go on 'life support mode'. What kind of 'rescue' solutions can be drawn up? And could PM Wong's new cabinet and deals signed at the ASEAN Summit provide solutions? Andrea Heng and Susan Ng find out from Ang Yuit, President, Association of Small and Medium Enterprises
CNA
22-05-2025
- Business
- CNA
Some Singapore firms could go on ‘life support mode' amid crippling US tariffs, says SME association
SINGAPORE: Some Singapore companies are shelving expansion plans amid crippling United States tariffs and a global economic slowdown, while others could go on 'life support mode', said the Association of Small and Medium Enterprises (ASME). Businesses are bracing for uncertainty once a 90-day pause on sweeping tariffs announced by US President Donald Trump in April ends. 'If they are impacted, they will go on life saving and life support mode and minimise expenses,' ASME president Ang Yuit told CNA. 'They will have to try out a pivot, and it ranges from case to case.' CASH FLOW INSTABILITY Mr Ang said that while overall interest rates have come down slightly, leading to less intense loan repayments, they are 'still not low'. 'So I think for SMEs, many are still a bit reluctant to apply for loan or working capital at this point, unless they really have no choice,' he noted. Non-bank lender Funding Societies told CNA that it has seen a 15 per cent dip in loan requests and submissions from March to April. Before the drop, loan applications were steadily rising for several months. The financial institution said firms are hesitant to take on loans as they reconsider their cash flows to stay afloat. It specialises in short-term financing ranging from one to 12 months. While it does not expect a wave of bankruptcies, it is watching closely for any red flags. 'Other bank and non-bank lenders have also started tightening within this segment preemptively and similarly for us, we also have additional scrutiny of borrowers that have supply chains that could potentially be impacted by selling to the US,' said Kelvin Teo, group CEO and co-founder of Funding Societies. He added that many SMEs are recalibrating their business strategy. 'I think in the short term, we are fine. In the medium term, once we start seeing the cash flow level to drop or liabilities to increase, then we will have to start taking measures to manage our exposure.' MORE GOVERNMENT SUPPORT NEEDED With less than half of the 90-day pause in US tariffs to go, the ASME said firms need to consider what happens after, including the likely reconfiguration of the global trading system. The association also called for more government support to help SMEs enter new markets and integrate into a bigger supply chain network. Skincare product company Theo10, for instance, has postponed its business growth plans and moved funds into purchasing more supplies. The firm - which makes skincare products such as eczema creams and body washes - sources its materials from around the world, including Australia, the US and China. When the US announced sweeping tariffs in April, the prices of such material shot up by as much as 30 per cent overnight, said the company's director Theodore Khng. He said the firm increased its bulk purchases when suppliers warned of a possible price hike after US President Trump secured a return to the White House. 'We had lesser cash flow for us to expand regionally, even though it was in the works,' Mr Khng added. 'We felt that securing our supply chain and the logistics issue was more pressing, rather than expansion, especially considering how unpredictable the issue may be.' As tariff fears mounted and consumers tightened their spending, the company's sales also fell by 15 per cent. This is despite efforts to entice customers with discounts. Mr Khng said the situation has pushed its cash flow levels down to a 'super thin line'. 'We do have reserves, but even our reserves are quite badly affected by the tariff news and all the uncertain economic moves,' he added. 'If we stretch a little bit more, it's a very dangerous game for us to play.'
