Latest news with #NeilParekh
CNA
21-07-2025
- Business
- CNA
Retail investors hurt by market misconduct may get easier access to legal recourse
Retail investors facing losses due to market misconduct may soon find it easier to seek civil recourse. The Monetary Authority of Singapore (MAS) is looking at ways to enhance safeguards, including a grant scheme to cut back on legal costs. At the same time, new fund strategies and research support will also be rolled out to strengthen the local equities market. Deputy Chairman of the Global Finance and Technology Network Neil Parekh, who is also a member of the Equities Market Review Group, explains what structural issues MAS is aiming to solve and whether its latest moves would meaningfully shift investor sentiment or trading volumes. He also talks about some benchmarks we could look for to determine whether the efforts to revitalise Singapore's stock market is succeeding or not.
Mint
10-07-2025
- Business
- Mint
Indian enterprises in Singapore set to ride on biz adaptation grant to counter US tariff impact
Singapore, Jul 10 (PTI The Singapore Indian Chamber of Commerce and Industry has welcomed the government's timely introduction of the Business Adaptation Grant to help local entrepreneurs navigate and adjust to the evolving cross-border tax landscape, especially impacted by the US trade tariffs. "This grant is available to all local businesses, especially Small and Medium Enterprises (SMEs)," the business chamber said. The Singapore government will launch a Business Adaptation Grant in October to help companies in the city-state adapt to the new US tariff environment, the Singapore Economic Resilience Taskforce (SERT) announced on Thursday. The grant will be capped at SGD 1,00,000 (USD 78,000) per company, said Minister for Manpower Tan See Leng. While Singapore has not received a letter, neighbouring countries such as Malaysia and Indonesia will face tariffs of 25 per cent and 32 per cent, respectively. "This initiative reflects a proactive and strategic approach to supporting enterprises, particularly SMEs, as they face increasing complexities in international trade," the Singapore Indian Chamber of Commerce and Industry (SICCI) said. With global tariff structures becoming increasingly dynamic, businesses must be equipped with the necessary tools, knowledge, and financial support to realign their operations and maintain competitiveness, said the Chambers. This grant will offer critical support to companies in reviewing supply chains, recalibrating pricing strategies, exploring alternative markets, and investing in trade advisory capabilities, SICCI said, stressing that it is "fully prepared to provide unwavering support to our members and the wider business community in accessing and leveraging this grant". "We will work closely with government agencies, particularly Enterprise Singapore, to ensure that businesses, especially those from the Indian business community, can effectively benefit from this initiative and develop sustainable trade strategies in response to the shifting global trade Environment," Neil Parekh, Chairman of the Singapore Indian Chamber of Commerce and Industry, said. Tan pointed out that small and medium enterprises will likely be able to receive a higher percentage of co-funding from the government than multinational firms. Small and medium enterprises employ around two-thirds of Singapore's workers, he added. Singapore plays an international hub role in international businesses' global dealings, the US being one of the main lucrative markets, according to international business analysis. The grant will cover two categories of businesses, and eligible companies will get support for a "time-bound period" of two years, according to reports.
Time of India
10-07-2025
- Business
- Time of India
Trade relief in Singapore: Indian firms to gain from new adaptation grant; US tariffs push government to act
Indian enterprises operating in Singapore are expected to benefit from a new Business Adaptation Grant unveiled by the city-state to help local firms manage the challenges arising from global tariff shifts, including those tied to recent US trade measures. The Singapore Indian Chamber of Commerce and Industry (SICCI) welcomed the government's announcement, calling the grant a 'timely intervention' to help businesses—particularly Small and Medium Enterprises (SMEs)—navigate the evolving cross-border tax landscape, PTI reported. 'This grant is available to all local businesses, especially Small and Medium Enterprises,' SICCI said, adding that the move reflects a 'proactive and strategic approach' to support companies amid growing complexities in international trade. The Business Adaptation Grant, set to launch in October, was announced by the Singapore Economic Resilience Taskforce (SERT) and will provide up to SGD 1,00,000 (around $78,000) per eligible company. According to Minister for Manpower Tan See Leng, SMEs are likely to receive a higher co-funding percentage than larger multinational firms. Although Singapore has not yet received a formal notification of new US tariffs, its neighbours Malaysia and Indonesia are expected to face import duties of 25% and 32%, respectively. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The new American tariffs come as part of a broader protectionist move, posing indirect risks to Singapore-based exporters and supply chains. SICCI said the grant will help companies reassess supply chains, adjust pricing strategies, seek new markets, and invest in trade advisory services to stay competitive. The chamber affirmed its commitment to assisting members in accessing the funds and aligning operations with the shifting global trade environment. 'We will work closely with government agencies, particularly Enterprise Singapore, to ensure that businesses, especially those from the Indian business community, can effectively benefit from this initiative and develop sustainable trade strategies,' said SICCI chairman Neil Parekh. Tan noted that SMEs employ about two-thirds of Singapore's workforce and will be a primary focus of the scheme. The grant will cover two business categories and will be available for a 'time-bound period' of two years. Singapore plays a key role as a global business hub, and the US remains one of its major trading partners. The new grant is expected to cushion the impact of shifting trade dynamics and reinforce resilience in the city-state's SME sector. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
10-07-2025
- Business
- Time of India
Indian enterprises in Singapore set to ride on biz adaptation grant to counter US tariff impact
The Singapore Indian Chamber of Commerce and Industry has welcomed the government's timely introduction of the Business Adaptation Grant to help local entrepreneurs navigate and adjust to the evolving cross-border tax landscape, especially impacted by the US trade tariffs . "This grant is available to all local businesses, especially Small and Medium Enterprises (SMEs)," the business chamber said. The Singapore government will launch a Business Adaptation Grant in October to help companies in the city-state adapt to the new US tariff environment, the Singapore Economic Resilience Taskforce (SERT) announced on Thursday. The grant will be capped at SGD 1,00,000 (USD 78,000) per company, said Minister for Manpower Tan See Leng. While Singapore has not received a letter, neighbouring countries such as Malaysia and Indonesia will face tariffs of 25 per cent and 32 per cent, respectively. Live Events "This initiative reflects a proactive and strategic approach to supporting enterprises, particularly SMEs, as they face increasing complexities in international trade ," the Singapore Indian Chamber of Commerce and Industry (SICCI) said. With global tariff structures becoming increasingly dynamic, businesses must be equipped with the necessary tools, knowledge, and financial support to realign their operations and maintain competitiveness, said the Chambers. This grant will offer critical support to companies in reviewing supply chains, recalibrating pricing strategies, exploring alternative markets, and investing in trade advisory capabilities, SICCI said, stressing that it is "fully prepared to provide unwavering support to our members and the wider business community in accessing and leveraging this grant". "We will work closely with government agencies, particularly Enterprise Singapore, to ensure that businesses, especially those from the Indian business community, can effectively benefit from this initiative and develop sustainable trade strategies in response to the shifting global trade Environment," Neil Parekh, Chairman of the Singapore Indian Chamber of Commerce and Industry, said. Tan pointed out that small and medium enterprises will likely be able to receive a higher percentage of co-funding from the government than multinational firms. Small and medium enterprises employ around two-thirds of Singapore's workers, he added. Singapore plays an international hub role in international businesses' global dealings, the US being one of the main lucrative markets, according to international business analysis. The grant will cover two categories of businesses, and eligible companies will get support for a "time-bound period" of two years, according to reports.
