CHAPTER 1: CULTURAL ANALYSIS

EXECUTIVE SUMMARY

AgriNurture, Inc. is engaged in importing; trading, and fabricating of post-harvest agricultural

machineries intended to manage the productivity, as well as the income of Filipino farmers. The
Company is also engaged in agro-commercial businesses, which focuses on the export trading
of Philippine Carabao Mangoes. The Company also supplies other home-grown fruits, such as
banana and pineapple to customers in Hong Kong, Mainland China, the Middle East and to the
different European regions. The Company operates through approximately two groups, which
include Philippine Operations and Foreign Operations. The Philippine Operations Group has
approximately five business units, which include Exports, Local Distribution, Retail &
Franchising, Banana Plantation/Farming and Others. The Foreign Operations is engaged in
fruits and vegetable trading in Hong Kong/China, Australia and Europe. The Company's brands
include SunGrown, Chantilly, Cafeteria verde and BIG CHILL.

Singapore is the country we chose to export because Singapore is one of the top trading
partners of the Philippines.

Singapore and the Philippines are founding members of the ASEAN marketplace—the
Philippines acts as ASEAN Chair for 2017—and today Singapore is the fifth country for FDI
inflows in the Philippines (in 2016), right after the Netherlands, Australia, U.S.A., and Japan,
contributing for the 11% of the total US$7.9b FDI inflows.
 
At the same time, Singapore is the number one trading partner in ASEAN for the Philippines,
and its fifth top trading partner, after Japan, U.S.A., Hong Kong, and China, for a total trade
volume of US$3.7b, and a 6.6% share of Filipino exports. Meanwhile, the Philippines is
Singapore’s 14th trading partner, for a total trade of US$6.5b, and a 2% share of Singaporean
exports.
 
As we all know, Singaporeans enjoy traveling a lot, and 176,057 citizens of the Lion City visited
the Philippines in 2016, with Singapore representing the 7th country of origin of international
visitors, and almost 3% of the total of 5,967,005 international visitors.
 
For the record, Singapore registered in 2016 the record number of 16,403,595 visitors. And out
of this figure, defined as historic high, 646,643 arrivals were from the Philippines (almost 4% of
the total visitors), with peak arrivals in April, May, and December 2016, respectively at 74,245,
76,646, 68,624, and an average daily arrival of 1,771 passengers.
 
Just the Singapore to Manila air link is flown daily by 13 non-stop flights: four operated by
Singapore Airlines, four by Philippine Airlines, two by Tigerair, and three by Cebu Pacific.
Additional daily flights are operated between Changi airport in Singapore and the airports of
Clark, Cebu, Davao, and Kalibo/Borocay in the Philippines, to accommodate growing demand
and offer non-stop connectivity.
 
On top of trade and travel stats, some 298,000 Filipinos live in Singapore (data related to 2015)
with a demographic showing 85,500 professionals, 71,500 domestic helpers, and 141,000
overseas workers.
 
Filipinos working abroad are the 7th largest group of national migrant workers worldwide, and
according to the 2015 survey on overseas Filipinos by the Philippine Statistics Authority,
Singapore is the fifth destination in Asia welcoming 5.7% of overseas Filipino workers, right after
Saudi Arabia (24.7%), the UAE (15.5%), Hong Kong (5.9%), Kuwait (5.8%), and before Qatar
(5.5%). At the same time, Filipino money remittance back home ranks number three according
to the World Bank.
 
Indeed there’s a bright future on the horizon for the Philippines, which recorded at 6.8%, the
best GDP growth performance in the ASEAN marketplace when comparing the 5 founding
economies: Singapore at 1%, Thailand at 3.1%, Indonesia at 3.5%, and Malaysia at 4.2%.
 
HSBC forecasted that the Philippines could become the world’s #16 largest economy by 2050.
Today the country ranks #30 for GDP, #57 for global competitiveness, #79 for travel and tourism
competitiveness, and #99 for ease of doing business.
 
A major driver for growth is the service sector, with tourism (the contribution of travel and
tourism industry to the Philippine’s GDP was 10.6% in 2015 and in line for growth), real estate,
and business process outsourcing (number one in the world) as leading segments.
 
Singapore, with its leading role as business and trade hub in the ASEAN marketplace, remains
a priority market for the Philippines for exporting products and services, and support the Lion
City’s aerospace industry mainly in the MRO service (Maintenance, Repair, and Overhaul).
 
Also, Singapore remains a key investment source for the Philippines in priority sectors that
among others include infrastructure, construction and public-private partnership projects, and
the tourism industry.

A. Introduction

AgriNurture is a trading company in the Philippines. The company’s line of business includes
importing agricultural products. The Company is also engaged in agro-commercial businesses,
which focuses on the export trading of Philippine Carabao Mangoes. The company exports it’s
agricultural products to Singapore one of the major trading partners of the Philippines

B. Geographical Settings

Singapore lies at the tip of the Malay peninsula. It borders Malaysia, Indonesia, and Brunei. Its
area is 248 square miles (642 square kilometers), including the main island and some sixty
islets. The main island is flat with a hilly region in the middle. The highest point is Bukit Timah,
feet (206 meters) above sea level. The climate is tropical with high humidity and abundant
rainfall, especially during the northeast monsoon in December to March. The period of the
southwest monsoon (June to September) is usually the driest.

The main island is fully urbanized with a dense commercial city center to the south. Around the
city center are new townships that house about 86 percent of the population. The townships are
self-contained and have high-rise apartment blocks, shops, medical and social service
buildings, religious buildings, and schools; they are well connected by the Mass Rapid Transport
System (MRT), which circles the island.

C. Religion

Religious Beliefs There is freedom of religion with some exceptions. Singapore has been
described as one of the most religious countries in the world. The major religions are Islam
(Malay), Hinduism (Indians), Buddhism, Taoism, and folk religion (Chinese), along with a
substantial number of Christians of various denominations.

Religious Practitioners Religious experts vary from formally installed priests and teachers
representing the institutionalized religions to self-ordained shamans, healers, and sorcerers.

Rituals and Holy Places The many Chinese and Indian temples, Malay mosques, and Christian
churches are the main public arenas for religious activities. Much religious activity is also carried
out in the home. There are different "street festivals" according to the ritual calendars of the
different ethnic groups

Death and the Afterlife A funeral is a major ritual for all ethnic group. The idea of an afterlife is
generally shared.

D. Living Condition

Quality of life in Singapore

Quality of life is often used as a shorthand for measuring how good one feels about one’s life.
There are formal procedures for calculating this measure that includes factors such as
economic, social, physical, political and spiritual well-being. Singapore may be the smallest
country in Southeast Asia but it has emerged as one of the best places to live in Asia with a very
high quality of life measurement.

Singapore has been ranked as the top city in Asia in terms of quality of living according to global
human resource consultancy, Mercer. Singapore is also regarded as the ‘Happiest country in
South-east Asia’ according to the 2018 World Happiness Report . The study also showed that in
Singapore, family is the most important unit and despite materialistic goals, the family and
community always takes precedence. This is turn helps build a content and happy society.

Factors that impact quality of life:

  The following factors play a key role in determining the quality of life in a given country:
 Political and social environment
 Economic environment
 Socio-cultural environment
 Health and sanitation
 Schools and education
 Public services and transportation
 Recreation
 Natural environment
 Consumer goods
 Housing
 Political & Social Environment

Singapore is known for its stable political climate. Despite being considered centralised and
authoritarian, the political culture is pragmatic, rational and based on the rule of law. The highest
goal of the government is the survival and prosperity of this small nation. This often means,
having to make unpopular but hard and wise decisions in the interest of the nation. The
government believes in being pro-active and thinking for the future.

According to Singapore’s founding father Lee Kuan Yew, Singapore has been able to attract
some 9000 multi-national companies, because it offers First World conditions in a Third World
region. Good governance is having a good system that will ensure the country survives, so that
citizens have secure lives.

Economic Environment

Singapore boasts a competitive, corruption-free, open business environment. The Port of

Singapore is one of the busiest in the world as the country focuses on electronics and chemical
exports to richer industrialised nations. However, over the years, Singapore has diversified its
economy and today it has become a research and development (R&D) hub, bio-medical hub,
banking and finance centre and in recent times the health-care destination of Asia. Today,
Singapore is a knowledge-based economy and attracts multinational investments. Its open trade
policies, social stability, world-class infrastructure and international communication links, are
some of the reasons why foreign investors flock its shores. This is despite the fact that land and
labour costs have risen sharply and employers have to pay a sizable portion of their employees’
salary to their Central Provident Fund.

The World Economic Forum positions Singapore’s economy as one of the most open in the
world. The country is also known for its low tax regime. In Singapore, personal income tax rates
start from 0% and capped at 22% for residents while non-residents are taxed between 15% and
22%. The corporate income tax rate in Singapore is approximately 8.5% for profits up to
S$300,000 and a flat 17% above S$300,000. The GST or VAT rate is at 7%. Furthermore, there
is no dividend tax, no estate duty, and no capital gains tax.
According to a report by financial advisory firm, Ernst & Young and the Japan External Trade
Organisation, Singapore was found to be one of Asia’s best investment destinations for foreign
firms. It has benefited from these firms, as they bring in capital, technology, management know-
how and access to international export markets. Singapore has also realised the need to
enhance its manpower and encourages top foreign talent to re-locate here. Hence the labour
force is highly educated, competent and skilled.

Socio-cultural Environment

Singapore’s social and ethnic fabric is a unique blend of cultures and people – Malays, Chinese,
Indians and expats from various countries. Singapore’s lifestyle is multi-cultural with each of
these ethnic communities maintaining their unique way of life and at the same time living
harmoniously. Singapore’s society is cosmopolitan due to the influx of foreigners in recent
times. People are amiable and courteous to each other. High emphasis is placed on communal
and racial harmony. The Singapore government has laid down five basic ‘Shared Vales’ to
develop a distinct Singapore identity – nation before community and society above self; family
as the basic unit of society; community support and respect for the individual; consensus not
conflict; racial and religious harmony.

Singapore has been ranked first in Asia and eighth globally in Mercer’s personal safely ranking.
Ensuring security and personal safety for expats and their families has made Singapore a
popular destination for international relocation. Expatriates continue to cite safety as one of the
most attractive features of living in Singapore. 

Healthcare

Singapore’s population enjoys one of the highest levels of health and nutrition in Asia. The
country is also renowned for its world-class health infrastructure, technological advancements in
the healthcare industry, expert doctors and specialists. The healthcare environment is clean,
efficient and safe. Singapore has adopted a public-private partnership in healthcare financing.
Central to this system is the ‘Medisave’, where every working resident has to make a mandatory
monthly contribution to the Medisave portion of his Central Provident Fund account. This can
then be used for payment of medical expenses. The government on its part provides good,
affordable health-care and subsidised medical services to the needy, at public hospitals and
clinics. Apart from registered pharmacies, pharmaceuticals are easily available in super-
markets, shopping centres and departmental stores. Drugs are safe for consumption and have a
high standard of quality. All medical practitioners are registered with relevant bodies.

Singapore promotes a clean and green environment. It encourages a healthy lifestyle and diet
and cleanliness and hygiene are imbibed in its system. The National Environment Agency
conducts regular checks all over the island for instances of mosquito breeding and imposes
heavy fines at breeding sites. Steps like these have played a vital role in trying to contain the
spread of diseases like chikungunya and dengue. According to the World Health Organization
2010 ranking on the World's 100 Best Health Systems, Singapore was ranked 6th out of 100
countries.

Schools & Education

Singapore places great emphasis on education. The education system arms individuals with the
necessary skills and knowledge to survive in a globally competitive environment. Singapore’s
public schools have high standards of teaching and learning, with many of its students winning
International competitions. Apart from the 3 internationally renowned local Universities –
National University of Singapore, Nanyang Technological University and Singapore
Management University – Singapore houses several internationally renowned world-class
institutions like INSEAD, University of Chicago Graduate School of Business and United World
College to name a few. The country has taken cognizance of a growing expat community and
set up many International Schools and Foreign System Schools (FSS). These schools are
registered with the Ministry of Education and follow a curriculum identical to those in their home
country. The fees per year range from S$12,000 to S$48,000.

The National University of Singapore (NUS), Nanyang Technological University (NTU) and
Singapore Management University (SMU) are both among the top 50business schools
worldwide according to the 2018 Financial Times ‘Top 100 Global MBA’ ranking.

Public Services & Transportation

Singapore is acutely aware of the need to have clean water, clean energy, clean air, managing
traffic congestion, water conservation, reliable energy supply and good urban planning. Over the
past few years, the government has focused efforts on building Singapore as a ‘Garden City’
(addition of greenery and create a garden effect), with good urban planning and pollution control
as key considerations. Today the city is clean and green and relatively free of traffic congestion.
Residents have access to well planned parks and nature reserves. The nation’s clean water
bodies provide reliable water supply and opportunities for sports and recreation.

According to the National Environment Agency, Singapore enjoys better air quality than many
cities in Asia and its Pollutant Standard Index (PSI) has remained in the 'Good' and 'Moderate'
range for much of 2017. In recognition of the progress and achievement that Singapore has
made in integrated water resources management, the national water agency, Public Utilities
Board, was awarded the prestigious Stockholm Industry Water Award in 2007. Singapore also
has bans placed on smoking in public places.

Singapore boasts of a highly efficient, hassle-free and affordable public transportation system,
which includes taxis, buses and the Mass Rapid Transport (MRT) rail system. These modes of
transport are air-conditioned and operate from 5:30 am until 12 mid-night and link the entire city.
They are safe, clean and efficient. Bus and rail fares are affordable, costing anything between
S$0.70 to S$2.50 per trip. Taxis are plentiful and relatively cheap compared to the Western
world. Taxis are reliable and drivers do not fleece customers or demand even a cent more than
the metered fare.
In order to curb traffic congestion, the government has introduced a Electronic Road Pricing
(ERP) system. This means that you have to pay a minimum fee when you use certain
congested roads and expressways in the CBD. Owning a car can be extremely expensive in
Singapore, costing anywhere between S$100,000-S$200,000, excluding registration, insurance
and tax costs. Leasing a vehicle is a cheaper alternative.

Recreation

Dining and shopping are the two most popular activities in Singapore. Most expatriates feel the
lack of adequate recreational options and resort to exploring nearby places in Malaysia
(Langkawi, Tioman, Genting etc.) and Indonesia (Bintan, Batam, Bali etc.) over the weekend.
Singapore does have a vibrant night life and there are several bars and night clubs that are
frequented by patrons. The cinema is another option that rates high on popularity. There are art
festivals, plays, music concerts, cultural performances etc., but these options are seasonal and
could be expensive. 

Natural Environment

Due to Singapore's geographical location, it is generally free from the danger of natural

disasters. However, the weather can be humid all year round, and wet towards the last few
months of the calendar year.

Access to Consumer Goods

Singapore’s retail sector experiences brisk trading conditions practically all year round. With an
increase in disposable income, housing boom and aggressive retail promotion, people spend on
luxury items, automotive and household items like furniture and other consumer durables.
Hence, every retailer is setting up shop in Singapore. Both fast moving consumer goods
(FMCG) such as packaged food, cosmetics, toiletries, household products, etc., and luxury
brands are easily available. Many consumer durables have become basic necessities in
Singapore.

Hypermarts and supermarkets have several outlets that dot the island. Most of these
supermarkets offer promotions and discounts and also stock basic Mexican, Australian and
Indian products. This apart, there are convenient stores like 7-Eleven and small local grocery
shops near the housing estates. You wold also find specialty supermarkets like Medi-ya
(Japanese supermarket), Tanglin Market Place (American products), Tierney’s (Scandinavian,
Swiss and German products) and Mustafa (Indian products). Heat-and-serve meals, semi
prepared food, frozen food, western-type convenience foods are gaining popularity. Low fat
foods, diet beverages, yogurt, fruits and other health foods are also becoming popular. Since
Singapore imports every possible item from every corner of the globe, the choice is wide and
prices are competitive.

Housing

Housing in Singapore falls under two main categories – public HDB flats (built by the Housing
Development Board) and private condominiums/landed property. The choice of housing purely
depends on budget, location, facilities/amenities, transportation and personal preferences.

Many expats prefer to live in condominiums and often choose to live near their workplace or
their children’s schools. Condominiums are mid to high rise buildings with stylish exteriors and
interiors, 24 hours security, swimming pool, gym, tennis courts, BBQ pits and covered car parks.
The rental of a three-bedroom condo close to the CBD can cost anywhere between S$7,000
and S$15,000, while rental of units located outside the CBD can cost between S$3,300 to
S$5,000. HDB flats, where 90% of Singaporeans live, are a less expensive option. However,
they do not come with the luxury amenities like swimming pools or gyms. They are however,
often located near shopping malls, food courts/restaurants/hawker centres, a library,
supermarkets, clinics and sports/recreational facilities. Expats from India, China and Malaysia
often find HDB flats a viable and convenient option.

In a nutshell

Positive Factors

 Easy to adjust to the culture and living environment

 Modern, westernised environment
 Scores high on safety and low crime rates
 English is widely used and a first language in Singapore
 Convenient transport, high quality infrastructure and health facilities
 Readily available and affordable domestic help
 Clean, green and healthy environment to live in

Negative Factors

 Limited sports/recreation options

 Rule-bound and sometimes stifling
 Expensive to own a car
 Weather can be hot and humid most of the time
Singapore Culture and Languange
https://www.reuters.com/finance/stocks/companyProfile/ANI.PS?
fbclid=IwAR0OWVKnG2e1MUeL0jLVie8leGhPQ1ty-YsxWWJ2a-k3eUKlUkByGBzE7LQ

AgriNurture Inc
https://www.singaporeexpats.com/about-singapore/culture-and-language.htm?
fbclid=IwAR2SvBfket44CyBkn_qz6C_XygLJmnd6mh3ey-jauxIzCVu9E0A1_ndCvq8

Singapore and the Philippines: More than just trading partners BY ANTONIO ACUNZO
https://sbr.com.sg/economy/commentary/singapore-and-philippines-more-just-trading-partners-
0?fbclid=IwAR2K_cO1LLv-VDaMUE8AQsVGOHh1MP9EnjzLZcYWaVkIVZhQd9ITLx7EqhQ
 Chapter 2 - ECONOMIC ANALYSIS

A. Introduction

Economic growth in Singapore in 2018 should hold steady despite a slowing in exports to
China. It will be sustained by world economic demand, in particular in the new technologies
sector, with the upturn in exports of semi-conductors that started in 2017, in financial services
and retail sales. The slight rise in oil prices will benefit exports as Singapore is the world’s third
largest refining centre. The slow rise in energy prices, a slight upturn in household consumption
and the government’s expansionary budget policy (increased redistributive spending) will give a
boost to inflation. Household confidence will however be kept buoyant thanks to the stability of
the Singapore dollar (pegged to a mainly US dollar weighted basket of currencies) and a falling
unemployment rate. In addition public investments will make a positive contribution to growth in
this context, in particular through infrastructure projects such as the high-speed rail link between
the City-State and Kuala Lumpur, as well as “future economy” programs which, in 2017,
involved $8 billion (approximately 2.5% of GDP), to improve productivity and stimulate
innovation in the 23 industries which are already growth hubs. The aim is to achieve growth of
2% to 3% a year for the next 10 years by improving the competitiveness of companies and the
workforce. In addition, the advantageous tax regime will continue to attract significant foreign
direct investments, equal to 19% of GDP in 2018.

B. Population

By the end of June 2012, the population of Singapore stood at 5.31 million. The record low
was 1.65 million five decades ago, even though the fertility ratio then was higher than it is now.
Today, the population is estimated to be at 5.87 million (based on the latest United Nations
estimates). Immigration into the Island has played a critical role in realizing the current
population figure. As the government’s recent campaigns to increase the fertility ratio from 1.20
to 2.1 have been futile, the government has been forced to amend its immigration policies to
accommodate the increasing labor demands caused by the Island’s industrialization.

Singapore lays claim to 719.2 square kilometers of total surface area. In combination with
the high population numbers, this comes to a population density of just over 8,157 per square
kilometer. While these numbers are quite staggering, there are still areas that are considered
denser, as Singapore ranks at 3rd for population density worldwide.

Estimates from 2006 indicate that the net migration rate was 9.12 migrants per 1000 of the
population. This was because the aging part of the population, although lower than most other
developed countries at 9.9%, created a need to increase the task force in the country through
means other than natural growth.With the country’s different cultures bearing less than 1.7 as
the fertility rate, the change in the current population is significantly impacted by immigrants
over time. Since the early 2000s, the trend in population growth has been more a result of the
number of migrants entering the country than from natural population growth.
 The annual growth rate in 2012 was 2.5% according to statistic figures released. The Total
Fertility Rate (TFR) has been 1.2 as of 2011 with 1.08 for Chinese, 1.64 for Malay and 1.09 for
Indians. The Malay fertility rate was 70% higher than that of the Chinese and Indians. The
country’s authorities have tried for years to boost the fertility ratio to 2.1 births per woman. It is
said that births per day is estimated to be 137.

As of the end of June 2012, the Island’s population stood at 5.31 million, making it the
second densest sovereign state in the world behind Monaco. It’s a multiracial and subsequently
multicultural country, with a majority of the population being Chinese. 74.2% of Singapore’s
population is Chinese with Malays accounting for 13.2%, the second largest but distantly placed
community in the country. Indians also comprise part of the minority group and account for only
9.2% of the population. The Malays are acknowledged as the indigenous community in the
Island, although they primarily are descendants of the post-1945 migrations from Malaysia and
Indonesia.

Mahayana Buddhism is the most widely followed religion in the Island, although its followers
don’t form a majority in the country. There are significantly lower-sized groups of Islam,
Christianity, Hinduism, Sikhism and those with no religion at all that add up to displace
Mahayana Buddhism as a majority in Singapore.
 C. Economic Statistics and Activity

A major financial hub in the Asia Pacific region, Singapore has long earned a reputation as
one of the world’s most advanced economies.

In 2017, Singapore was ranked as the world’s second most open economy by the Heritage
Foundation’s Index of Economic Freedom, as well as the world’s second most pro-business
regime by the World Bank’s Doing Business report.

Despite its small domestic market and a lack of natural resources, Singapore successfully
weathered through the financial crises of 1997 and 2008. Today, the Singapore economy is one
of the most stable in the world, with no foreign debt, high government revenue and a
consistently positive surplus.The Singapore economy is mainly driven by exports in electronics
manufacturing and machinery, financial services, tourism, and the world’s busiest cargo
seaport.

For the third quarter of 2017, Singapore’s GDP (at current market prices) stands at S$107
billion. The Singapore economy grew by 5.2% during this period – which is the fastest pace it
has grown in more than three years, according to a Bloomberg report. The recovery of global
trade and an improving labour market has helped Singapore not only sustain growth in the
manufacturing industry, but also broaden out to other industries such as services and retail.

The Monetary Authority of Singapore estimates that the Singapore economy is likely to
expand at a steady, but slightly slower, pace in 2018 compared to 2017.
List of Singapore’s top industries according to their GDP contribution:

The average salary in Singapore is S$67,152. This average out to be S$5,596 per
month, inclusive of employer’s CPF contribution. The latest result indicates that the Median
Gross Monthly Income from work, inclusive of CPF contributions of full-time employed residents
is at S$4,437. This is a nominal change of 4.6% from the year 2012 to the year 2017. The latest
result indicates that Singaporeans work an average of 45.1 paid hours per week, with an annual
average paid overtime hours of 3.0 hours. The top few paying industries are accounting,
banking & finance, healthcare & life sciences and information technology.

The average monthly household income measures the combined incomes of all the
people living under the same roof. It includes every form of income such as salaries, employer’s
CPF wage contributions and investment returns. Household income is the sum of gross income
of all the members of a household.
 For household with at least one working person, the median household income for
Singaporeans is at S$8,846. The average household income for Singaporeans is at S$11,589.
10.8% of Singapore’s household is without monthly income. If your household income is less
than S$11,589, you are considered below the average. The main percentage (49.4%) of
Singaporean households falls in the monthly household income range of S$1,000 to S$8,999.

The Singapore government does not release poverty statistics. Some estimate that
about eight percent of Singapore's population live in poverty. According to the Manpower
Ministry, the earnings of the poorest 20 percent had stagnated in the past 10 years, with real
income rising only S$200 or 0.3 percent. The bottom 10 percent of households had an average
annual income of S$3600 per member in 2006, up 6.6 percent from the previous year. The
lowest 25 percent of the nation’s poor, who earned less than S$1200 (RM2900) a month in
2007. Half of them made no more than S$900 (RM2180).

A total of 339 homeless individuals and 15 homeless families (totalling 50 people) were
found in 2009 — compared with 217 individuals and 17 families (comprising 82 people) in 2008.

The lowest income levels were those of single-person households, representing the
elderly, the disabled, and those without kin in Singapore. Apart from the childless elderly and
the disabled, those in moderate poverty in the 1980s were overwhelmingly working poor,
holding unskilled jobs with no prospects for advancement. Such households typically had only
one wage-earner with either primary education or no education and lived in rented housing and
often a one-room or two-room Housing and Development Board apartment. Households with
two or more members working, even at relatively low-paying jobs, were able to contemplate
purchasing a Housing and Development Board apartment, save money for emergencies, and
devote more resources to the education of children.

Singapore is a middle class city. An estimated 70 percent of citizens consider

themselves middle class rather than working class. Most are, of course, university graduates or
diploma holders, whose numbers and role in society had steadily increased because of strong
growth and people’s determination to get higher education. In turn, it helped to shape Singapore
into what it is – a rich, middle-class society. Who forms the middle class? There is no universally
accepted definition, but Singaporeans generally base it on earnings. People who earn S$4000-
S$7000 (RM9,800-RM17,200) are considered middle and upper middle classes.

Yuppies often eat every night because they can afford to and have a house full of the latest
electronics. On the upper middle class in Singapore, Generally, they include professionals,
businessmen, managers, executives and, of course, high-earning senior civil servants and
politicians. The upper middle class (UMC) is defined not only by its earnings or wealth but also
by education, social influence and lifestyles. The upper middle class person has a car and a
maid — possibly even two of each — and his family takes annual overseas trips every year. His
growing emergence is the result of years of rapid economic expansion and an education system
that pushed out tens of thousands of graduates ever year, particularly women. The economic
power of the female professionals is one of the major factors for the phenomenon.
 D. Primary Indigenous Natural Resources

Located at the southernmost tip of the Malaysian peninsula and with a land area smaller
than that of New York’s, Singapore has no significant natural resources.

However, this did not stop Singapore from developing itself into a regional hub for oil and gas,
as well as a world leader in sustainable water solutions and projects such as NEWater and the
Deep Tunnel Sewerage System.

It has been said that Singapore’s true natural resource is its people – and in a growing
economy, this could not be more apt. As the economy grows, both local and non-local
companies have access to a pool of an educated workforce and, eventually, a burgeoning
consumer market.

E. Surface Transportation

Travelling from one part of Singapore to another is a breeze thanks to a highly penetrative
public transport system. The three main modes of public transport in Singapore are the Mass
Rapid Transit (MRT), buses and taxis.

Buses are, by far, the most common form of public transportation in Singapore, followed by the
MRT and taxis respectively. Public buses serve almost every part of Singapore, making it the
most extensive form of public transportation, while the MRT provides speed and efficiency,
especially during peak hours.

Buses

Public bus transportation is provided by two operators, namely SBS Transit (operating
distinctive red-and-white buses) and SMRT (yellow buses). Both operators serve their own
network of routes and bus interchanges throughout Singapore.

Public buses run daily from 5.30am to midnight. There are also extended night services, namely
Nite Owl and NightRider, which cost slightly more (a flat rate ranging from $1.50-$3.00).
Otherwise, most fares depend on distance travelled and range from 67 cents to $1.58 for air-
conditioned comfort (almost all public buses in Singapore have air-conditioning today).

There are also “feeder” bus services that charge a flat rate of 67 cents. These services tend to
run along a small circuit of roads within a single housing estate, and usually terminate at major
bus interchanges.

Other special services include the premier bus service Bus Plus, which offers commuters more
convenience, comfort and a shorter travelling time.

Buses continue to be a major part of Singapore's public transportation because the MRT
network is not yet very extensive – the trains tend only to arrive at major town centres. To get to
locations in the more peripheral areas, you'd usually have no choice but to take a bus or a cab.
It wouldn't take you long to discover that Singaporeans have a love-hate relationship with public
buses. It's not hard to tell why. For starters, there is the time spent waiting for a bus to arrive. In
theory, each bus should not take more than 15 to 20 minutes to arrive at the bus stop. In
practice, the waiting time can occasionally take over half an hour, depending on traffic
conditions.

To make matters worse, many buses tend to be packed, especially during peak hours. On such
occasions, the uglier side of Singaporean behaviour might surface, and one such example
would be when passengers refuse – despite much prodding – to move towards the rear of the
bus in order to make way for more passengers to board.

Still, to put things in perspective, the public bus is the most cost-effective way to travel in
Singapore. Taking a bus is also probably the best way for you to see a wider cross-section of
Singaporeans on a daily basis.

MRT and LRT

The construction of the first MRT lines (North-South and East-West lines) began in May
1982, a massive project that cost a hefty S$5 billion. Since then, the MRT has expanded to
serve ever more commuters. A line was built to connect the northern and western stations
between Woodlands and Jurong. The Northeast Line was added a few years later, to connect
the new housing estates of Punggol and Sengkang to downtown Singapore.

The Circle Line (CCL), which is set to start operating from 2010 onwards, will cut travelling time
and allow commuters to bypass busy interchanges like City Hall and Raffles Place. Costing $6.7
billion, the CCL will be a fully underground orbital line linking all radial lines leading to the city.
The line will interchange with the North-South Line, East-West Line and North-East Line.

The MRT may be well over 20 years old, but thanks to regular maintenance and facelifts, it'd be
hard to notice its age. Most Singaporeans can no longer remember a time without the MRT. It
has become a very indispensable way to get from one end of Singapore to another, and it is
particularly useful for getting to downtown areas such as Orchard Road or the Central Business
District, where traffic can be heavy.

More recently, the Light Rapid Transit (LRT) system was also added to the existing train
network. Unlike the MRT, the LRT are intra-town loop services – passengers switch from the
MRT to the LRT to get to other parts of the town. To date, LRT services have only been
implemented in the Bukit Panjang, Sengkang and Punggol housing estates.

The greatest advantage that trains have over road transport is their ability to bypass traffic
congestion. On top of that, the MRT and LRT are both very cheap compared to train services in
most other countries in the world. The major disadvantage is that the rail network is not yet as
extensive as most would like it to be.

Just like public buses, MRT trains can get incredibly crowded, especially during peak hours, in
spite of the higher frequency of trains during such times. This is, perhaps, an unavoidable part
of urban living, but the good news is that the trains are very clean and well-maintained, so it's
very seldom a completely unpleasant ride.
Ez-link

The ez-link card is a fairly recent innovation that was added to both the bus and rail network in
Singapore.

The ez-link card is a thin, compact smartcard, similar in size to a credit card. It is essentially a
store-valued card, very much like a public telephone card. Unlike telephone cards however, a
tamper-proof microchip is embedded inside an ez-link card.

To use an ez-link card, all you have to do is tap the card on a card reader, which will
automatically scan and deduct the appropriate amount from your card. These card readers are
located on the turnstiles of all MRT stations, and on the front and back entrances of all public
buses.

You can top up the value of your ez-link card at all MRT stations and bus interchanges. Just
bring it to a counter and top up with cash, or do it electronically at electronic ticket machines.

Taxis

Eight taxi companies operate taxis in Singapore: Comfort Transportation, CityCab, Yellow Top
Taxi, SMRT Taxis, Trans-Cab Services, SMART Automobile, Premier Taxis and Prime Taxi.

Taxis provide you with greater speed, comfort and of course, privacy. Although taxis are subject
to the same traffic conditions as public buses, it has the major advantage of not being forced to
run on a fixed route. Experienced taxi drivers know which roads to avoid during peak hours to
evade traffic jams. The drivers also tend to be great sources of gossip and conversation!

All taxis in Singapore charge by the meter. It is a fair and transparent system, but that doesn't
make it any more economical, unfortunately.

Here's a comparison in fares and travel time for a trip from the first town in Singapore, Toa
Payoh, to City Hall (CBD Area) during a non-peak hour:
As you can see, travelling by taxi during rush hours can easily result in 50% higher fares. As
such, it is extremely rare for people to commute to work via taxis.

It gets even more expensive if you call to book a taxi. Regular bookings cost an extra $3.50
during peak hours and $2.50 during non-peak periods. And if you pay by NETS or credit cards,
there would be a 10% additional administrative charge, so perhaps you might like to think twice
before opting for payment with credit or charge cards.

Then, there are the late night surcharges, where you have to pay an additional 50% of the
metered fare between 12 midnight to 6am in the morning.

Taxi rides in Singapore may cost relatively less than taxis in many other developed countries in
the world, but nonetheless, the costs do add up, so unless you enjoy the benefit of claiming
such expenses from your company, you would be wiser to choose the taxi only when you need
it badly.
 F. Ports

As a commercial and military seaport during the British colonial era, Singapore’s infrastructure
has always been well-developed. After Singapore gained independence in 1965, the post-
colonial government went on to improve and expand the country’s transport, communications,
industrial, and housing systems.

By land, Singapore is served by 9,310 kilometers of paved roads, 199.6 kilometers of rail (mass
rapid transit and light rail combined), as well as island-wide bus, taxi, and ride-share operations.
The transport system is efficient, safe, and punctual.

By air, Changi International Airport is connected to 380 cities in 90 countries. It handles more
than 7,000 weekly flights transporting passengers and cargo worldwide. By sea, the Singapore
port gives shippers a choice of over 200 shipping lines and access to some 600 ports in 123
countries. At any one time, there can be as many as 1,000 ships docked at the Singapore port,
which makes it the busiest container port in the world.

G. Telecommunication system

The telecommunications system is no less remarkable - Singapore has one of the world’s
highest mobile penetration rates at 1.5 mobile phones per person, and more than 90% of
Singaporean households have Internet access. In hotspots such as coffee chains, fast-food
restaurants, or Changi Airport, you can use an island-wide Wi-Fi service called Wireless@SG
for free.

Industrial and commercial facilities for businesses are also readily available in Singapore. The
Jurong Town Corporation (JTC) has over 47.7 million square meters of strategically-located built
industrial space that can be used to build factories, warehouses and business parks. For
commercial businesses, choice of world-class high-rise and low-rise offices in the Central
Business District and other parts of town are available.

Singapore has two main commercial port terminal operators, namely PSA Corporation Limited
and Jurong Port. Both ports can accommodate all vessel types.

The Port of Singapore includes terminals located at Tanjong Pagar, Keppel, Brani, Pasir
Panjang, Sembawang and Jurong. They can accommodate all types of vessels, including
container ships, bulk carries, ro-ro ships, cargo freighters, coasters and lighters.

The terminals are managed by two commercial port operators – PSA Singapore Terminals,
which manages the major share of container handling in Singapore and Jurong Port Pte Ltd,
which is Singapore’s main bulk and conventional cargo terminal operator.

H. Labor Force

Unemployment The seasonally adjusted unemployment rate among residents (2.9%) and
citizens (3.0%) held steady from June 2018 to September 2018, while the overall unemployment
rate rose slightly (from 2.0% to 2.1%). All rates remained at or below those seen in September
last year. However, they were slightly higher compared to the two-year lows observed in March
this year, reflecting a continued inflow of job seekers into the labor market.

66,000 residents, including 58,200 citizens, were unemployed in September 2018, slightly
below the levels in June 2018 (residents: 66,600, citizens: 59,000)

For most age and education groups, unemployment rates either fell or were unchanged over
the quarter. The exceptions were residents aged below 40, as well as those with secondary
qualifications.

Resident long-term unemployment rate declined the seasonally adjusted resident long-term
unemployment rate2 declined from 0.7% in June 2018 to 0.6% in September 2018, suggesting
reduced difficulties in securing employment as economic conditions improved.

All age and education groups saw a decline in long-term unemployment rate, except for those
with diploma & professional qualifications, whose rate was unchanged over the quarter. For
groups with increased unemployment rate, their fall in long-term unemployment rate suggests
that more were engaged in job search, rather than facing difficulties in looking for work.

While the long-term unemployment rate of residents aged 50 & over declined over the
quarter, it remained the highest among all age groups, reflecting their greater vulnerability.

Employment
Total employment (excluding foreign domestic workers (FDW)) grew at a faster pace in the third
quarter of 2018 (16,700). This was more than double the increase in the previous quarter
(6,500) and was the highest quarterly growth since the fourth quarter of 2014 (38,300).
Cumulatively for the first three quarters of 2018, total employment (excluding FDW) grew by
23,600, a contrast to the contraction of 21,400 in 2017.

Services was the main driver of total employment growth in the third quarter of 2018 (13,800
excluding FDW), led by higher-skilled sectors such as professional services (3,400), information
& communications (3,100), community, social & personal services (2,500) and financial &
insurance services (2,500, mostly in financial services).

Total employment also rose in manufacturing (3,500), after sustained declines since the fourth
quarter of 2014. Within manufacturing, the employment increases were mainly seen in
electronics (1,600), transport equipment (1,500) and petroleum, chemical & pharmaceutical
products (1,300). Although employment in construction continued to contract in the third quarter
of 2018 (-300), the decline has eased considerably from the preceding quarters.

The main industries contributing to total employment growth in the first three quarters of 2018
were broadly like those in the third quarter of 2018. The sectoral increases outweighed declines
in domestically-oriented services sectors of retail trade (-5,100) and food & beverage services (-
1,700). Nonetheless, hiring in these sectors is expected to pick up in the fourth quarter of 2018
amid the festive season.3 Employment also declined in manufacturing (-400) and construction (-
6,700), largely reflecting the contraction in the earlier half of the year.
Continuing the downtrend, fewer employees were placed on short workweek or temporary layoff
in the third quarter of 2018 (430). Those on temporary layoff declined to a four-year low (20),
while the number on placed on short work-week edged down as well (from 460 to 410).

Affected employees were mainly from services (44%) and manufacturing (40%), followed by
construction (16%). By occupation, half of the employees (48%) were production & related
workers, while the remaining were clerical, sales & service workers (32%) and PMETs (20%).

Job Vacancy

The tightening of the labor market may have started to ease. Even though there continues to be
more vacancies than job seekers for the third consecutive quarter, the seasonally adjusted ratio
of job vacancies to unemployed persons dipped, from 1.10 in June 2018 to 1.05 in September
2018. This was due to an increase in the overall number of unemployed, and a slight decline in
total vacancies for the whole economy.

The decline in vacancies for the whole economy reflects a fall in the estimated vacancies
among small establishments.5 This outweighed the increase in job openings among private
sector establishments with at least 25 employees and the public sector. This number has been
on an uptrend since June 2017, albeit at a slower pace, to reach 58,500 in September 2018.

PMETs formed the bulk of the increase in job vacancies over the year (+7,600), led by higher-
skilled industries such as information & communications (+1,200), financial services (+1,100)
and professional services (+1,100). Non-PMET openings also rose (+2,600, mostly for
production & related workers), more than half of which came from construction (+1,900).
 In September 2018, half of the vacancies were for PMETs (53%), with clerical, sales & service
workers (23%) and production & related workers (24%) contributing equally to the remaining
vacancies.

I. Major Industries

TOURISM

Tourism in Singapore is one of the biggest service sectors and attracts millions of the tourists
each year. Its cultural attraction reflects its colonial history and Chinese, Malay, Indian and Arab
ethnicities. Singapore is environmentally friendly and maintains natural and heritage
conservation programs.
Singapore tourism board aims to triple their earnings to $30 billion and double their tourists by
17 million by 2015. With the development of tourism, the other sectors also promote like medical
tourism, business tourism, retail tourism and many more. Various steps are being taken to make
Singapore a must visit destination.
The Orchard Road district, which is consider as the center of tourism in Singapore which is a
multiple-storied building with hotels and shopping Centre. Other popular tourist attractions
include the Singapore Zoo and its Night Safari are the two others most popular tourists’
attractions, which allows people to explore Asian, African and American habitats at night.
hosting the Youth Olympics in 2010 etc. make Singapore a great tourist place as a result of
which there is tremendous growth in hotel and food & beverage industry.

Singapore airline voted best as best airline in the world and Asia, Singapore's Shangri-La as the
Best Business Hotel Worldwide and Singapore's Changi Airport as the Best Airport in the World.

BIOMEDICAL SCIENCES

Biomedical sciences emerged as one of the strong pillars of Singapore's economy in recent
times. Singapore has become a key center bio-medical activity such as basic research, clinical
development, product and process development, manufacturing and health-care services.
Singapore approach towards achieving excellence in these sectors- Industrial Capital,
Intellectual Capital and Human Capital.
Singapore’s MerLion Pharmaceuticals made it to Fierce Biotech’s 2007 industry is a worldwide
biotechnology company. In annual Scrip awards in London, December 2007 company received
the “Best Company in an Emerging Market” award.

In November, Singapore positioned as the home base for the two major newly launched
biologics manufacturing industries. It helps to cut down the R&D cost and increase the
development time. Presently there are now 2000 international researchers in Singapore working
on drug discovery, medical technology and genetic research.

Due to Singapore's global connectivity, highly skilled workforce, world class infrastructure and
pro-business environment are some of the reasons as to why it is becoming a popular
destination for biomedical and pharmaceutical companies.
LOGISTICS

Singapore upgrading its infrastructure and connectivity in order to remain a regional logistics
hub. In 2007 Singapore ranked as the top logistics hub in the world by the World Bank. This
provides a strong base for the Singapore to develop and delivers sustainable supply chain
solution for the global economy.

Singapore's logistics industry is encouraged to adopt best practices, develop supply chain
security guidelines and create an industry wide IT platform. Singapore is on 21 out of the 25
largest third-party logistics companies in the world. Singapore established different regional
centers in Singapore that includes Hewlett Packard, LVMH, Numonyx, Roche
Diagnostics and Schering-Plough.

As the Singapore has the wonderful sea location its port is a junction, linking the nation to more
than 700 ports in 130 countries. In its Harbor there are six terminals which can manage
container ships, bulk carriers, cargo freighters, coasters and lighters.

For the air cargo Singapore's Changi Airport is also one of the busiest airports. Singapore
provides 78 airlines with over 4000 flights connecting to more than 180 cities in 59 countries.     

Asia’s leading logistics education and research institute, The Logistics Institute - Asia Pacific, is
based in Singapore and has more than 100 alumni. Since 2003, TLI-Asia Pacific has been
conferred Asia’s Best Education Course Provider for six consecutive years at Cargonews Asia’s
annual Asian Freight & Supply Chain Awards.

Banking and finance

In Banking and finance Singapore becomes the hub on Southeast Asia. Singapore is holding
many international banks, wealth management firms and other financial institutions. Foreign
exchange and insurance are the main development sectors of banking. A strong economy,
straightforward infrastructure, pro-business environment, talented international workforce has
made Singapore one of the major International Finance Centre of the world. Excellent
Geographical location and communication make 24 hours trading possible in Singapore.
Singapore is coming up in the 5 top most companies regarding foreign exchange trading centre
in the world. Various institutions of banking and finance were set up to develop and expand this
sector and get the expertise in this industry.

CHEMICALS

As the demand for chemicals, from basic petrochemicals to specialties, are increasing rapidly in
recent years as Asia economies continue to develop at different paces. Singapore is considered
as the one of the world's leading chemical hubs. According to Singapore's Economic
Development Board, Singapore is now among the top 10 petrochemical hubs in the world.
Together, Singapore's petrochemicals and specialties sectors contributed to S$33.7 billion of
the manufacturing outputs in 2007.

It is estimated that with the new launch of ExxonMobil and Shell will increase Singapore’s total
ethylene output in coming 2011 from two million tonnes per annum (tpa) to four million tones per
annum. 
The Institute of Chemical and Engineering Sciences (ICES) which is Located on Jurong Island,
doing world class research programmes in developing new processes and applications for the
chemical industry. Also, it trained new entrants to the chemical industry so as to enhance the
capabilities of existing professionals.  
Currently over 1000 specialty companies are there in Singapore, many of which are very high-
profile companies such as 3M, Evonik Degussa, Huntsman and Siltronic.

According to the Minister of Trade and Industry of singapore, Mr. Lim Hng Kiang, "Singapore is
investing heavily in our technology infrastructure, and working with companies to establish new
innovation centres to develop new products that serve the Asian and global markets”. Singapore
is not a producer of the oil or gas, the raw materials for petrochemicals in spite of that Singapore
continually evolves to meet ever changing market requirements.

CONSTRUCTION

Singapore's construction industry has been growing tremendously in recent years. The
new two coming up Casino Resorts, new shopping malls, hotels, residential projects, building
business parks and a sports hub, will ensure that the construction industry grows strongly in the
coming years. No effect on the Singapore construction due to current economic recession. The
construction industry is expected to lead Singapore's economic growth in 2008-09, as per a poll
by 19 economists. In 2007 the construction sector grew by 20.3%.

J. Inward Foreign Direct investment

Singapore's Foreign Direct Investment (FDI) increased by 19.1 USD bn in Jun 2018,
compared with an increase of 15.7 USD bn in the previous quarter. Singapore's Foreign Direct
Investment: USD mn net flows data is updated quarterly, available from Mar 1995 to Jun 2018.
The data reached an all-time high of 22.3 USD bn in Jun 2015 and a record low of -2.5 USD bn
in Jun 2003. CEIC converts quarterly Foreign Direct Investment into USD. The Department of
Statistics provides Foreign Direct Investment in local currency. Federal Reserve Board average
market exchange rate is used for currency conversions.

In the latest reports of Singapore, Current Account recorded a surplus of 17.1 USD bn in Jun
2018. Singapore's Direct Investment Abroad expanded by 8.9 USD bn in Jun 2018. Its Foreign
Portfolio Investment fell by 115.8 USD mn in Jun 2018. The country's Nominal GDP was
reported at 86.9 USD bn in Jun 2018.
 K. International Trade statistics

Singapore has based its economic development on a proactive strategy to attract FDI using its
trade openness. Since 2003, when the World Bank Group began publishing its ranking system,
Singapore has been ranked first for ease of doing business, losing one position in 2018
(overtaken only by New Zealand). Favourable lending to foreign investors, a simple regulatory
system, tax incentives, a high-quality industrial real estate park, political stability and the
absence of corruption make Singapore an attractive destination for investment.

According to UNCTAD's World Investment Report 2018, Singapore was the fifth largest

recipient of FDI inflows in the world in 2017. Nonetheless, FDI inflows fell considerably
compared to 2016, from USD 77.5 billion to USD 62 billion, against a backdrop of a global
downward trend in foreign investment.

The main investors in the country are the United States, British Virgin Islands, Cayman Islands
and the Netherlands.

Foreign Direct Investment in Singapore increased by 32853.80 SGD Million in the third quarter
of 2018. Foreign Direct Investment in Singapore averaged 12505.67 SGD Million from 1995
until 2018, reaching an all-time high of 32853.80 SGD Million in the third quarter of 2018 and a
record low of -4441.60 SGD Million in the second quarter of 2003.
 L. Inflation Rate

Singapore's annual inflation rate increased to 0.5 percent in December from a seven-month low
of 0.3 percent in the previous month and slightly above market consensus of 0.4 percent.
Upward pressure came mostly from housing & utilities, clothing & footwear, household durables
& services and recreation & culture. Inflation Rate in Singapore averaged 2.59 percent from
1962 until 2018, reaching an all-time high of 34 percent in March of 1974 and a record low of
-3.10 percent in September of 1976.
 M. Technology and Sciences

Four individuals have been awarded this year’s President’s Science and Technology Awards
(PSTA), the highest honours conferred upon research scientists and engineers in Singapore
whose work have resulted in significant scientific, technological or economic benefits for the
country.

The PSTA comprises the President’s Science and Technology Medal (PSTM), President’s
Science Award (PSA), and President’s Technology Award (PTA). The winners received their
awards from President HalimahYacob during a ceremony at the Istana on 13 November 2017.

Two eminent individuals were chosen as this year’s PSTM winners by a distinguished panel of
representatives from industry, academia and research. The winners are Professor Edward
Warren Holmes, Department of Medicine, Yong Loo Lin School of Medicine, National University
of Singapore (NUS); Senior Fellow, A*STAR; and Advisor, National Research Foundation
(NRF), and Professor Sir David Philip Lane, Chief Scientist of A*STAR.

This year’s PSA was awarded to Professor Gan Wee Teck, Distinguished Professor at the
Department of Mathematics under NUS Faculty of Science, and the PTA was awarded
to Professor Ng WunJern from the School of Civil and Environmental Engineering at Nanyang
Technological University, Singapore (NTU Singapore).
Three outstanding young individuals were also recognised with the Young Scientist Award
(YSA) for their achievements in research and innovation. They are: Dr Li Jingmei, Senior
Research Scientist at the Genome Institute of Singapore, A*STAR; Dr Gao Weibo, Assistant
Professor, from the School of Physical and Mathematical Sciences, NTU Singapore; and Dr
Justin C.W. Song, Scientist at the Institute of High Performance Computing, A*STAR. They
received their awards from Mr Heng SweeKeat, Minister for Finance, at the Istana.

N. Intermediaries

Despite Singapore’s weakening economy in 2017, intermediaries managed to register a 4%

value growth rate in the year. Most Singaporeans consider travelling as a “staple” pastime,
judging by the record crowds at the travel fairs organised in January 2017, as well as the
willingness of most Singaporeans to set aside their savings for holidays.

PROSPECTS

Intermediaries cruise sales are expected to grow outstandingly over the forecast period, with a
value CAGR of 13% at constant 2017 prices being projected. Besides increased interest in
cruise holidays among Singaporeans, ASEAN has committed to growing cruise tourism across
the region, allowing Singaporeans to enjoy new and better-quality cruise destinations in the
future.

O. Media

Foreign Media in Singapore

The foreign media is well represented in Singapore.

The Japanese, Americans and Germans form the largest group of foreign correspondents in
Singapore. Singapore continues to attract foreign news organisations to set up bases here.
Reuters, CNBC Asia and the Dow Jones Group have their regional HQs located in Singapore.

Publications like WSJA, INYT, Newsweek, The Economist and TIME print and distribute their
Asian editions through Singapore.

Local Media / Local Press

There are nine daily newspapers in Singapore: The Straits Times, Business Times, free
commuter newspaper The New Paper, TODAY (English, fully digital), LianheZaobao,
LianheWanbao and Shin Min Daily News (Chinese); BeritaHarian (Malay) and Tamil Murasu
(Tamil). Singapore Press Holdings (SPH) is the main newspaper publisher in Singapore.

Local Broadcast Media

There are about 20 satellite broadcasters licensed to uplink their services from Singapore. They
can use any of the four available uplink facilities provided by ST Teleport, SingTel Telecast,
MediaCorp Technologies and Ascent Media Group to do so. Alternatively, they can operate their
own satellite uplink facility, but a separate licence, issued by the InfoCOMM Media Development
Authority (IMDA), will be required.

Singaporeans also have access to a wide array of films. About 1,000 films from different
countries are imported every year, adding variety and choice to consumers. Local films
supported and promoted by the Singapore Film Commission inject greater vibrancy into the
local film scene and are equally enjoyed by all.

Radio

MediaCorp Radio owns and operates 13 radio stations which broadcast in four different
languages over the airwaves. It also operates XFM 96.3 which broadcasts in Japanese, French,
German, Korean and Hindi to the expatriate communities in Singapore. The 13 radio stations
are: 938LIVE, 987FM, CLASS 95FM, GOLD 90.5FM, LUSH 99.5FM, SYMPHONY 92.4FM,
CAPITAL 95.8FM, LOVE 97.2FM, Y.E.S. 93.3FM, RIA 89.7FM, WARNA 94.2FM, OLI 96.8FM
and EXPAT RADIO 96.3XFM. Additionally, SPH Radio operates One FM 91.3, Kiss 92FM and
UFM100.3 while SAFRA Radio operates 883JiaFM and Power98FM.

Television

MediaCorp is Singapore's largest terrestrial broadcaster. It owns and manages the

entertainment channels, Channel 5, Channel 8 and Channel U as well as the Malay
entertainment and information channel, Suria. It also owns and manages okto and Vasantham.

Channel 5 and Channel 8 offer viewers round-the-clock quality English and Mandarin mass
entertainment and information programmes respectively. Channel U is a Chinese news and
entertainment channel for young adults and working professionals.

Channel NewsAsia (CNA) was launched in March 1999 to provide an Asian English channel
dedicated to providing an Asian perspective of the news to viewers. It covers political, social,
environmental and economic issues of Southeast Asia, East Asia and South Asia with its own
bureaux in these regions. CNA is a network of MediaCorp News.

StarHub TV operates a subscription television service, offering more than 100 channels of
quality international programming, 24 hours a day. CNN, HBO, Star World and National
Geographic are some of the programmes offered on StarHub TV.

SingTel mioTV which was launched in 2007 operates a subscription-based IPTV service which
offers both scheduled programming as well as Video On Demand content. Its content includes
general entertainment channels, sports programming as well as US drama series 24 hours after
their US telecast.

Foreign Correspondents Association (FCA)

Media representatives can join the FCA. The association organises monthly luncheons as well
as social events on a regular basis. It has three categories of membership – ordinary
membership for foreign-based media operating in Singapore; associate membership for local
media, diplomats, advertising and public relations executives; and honorary membership for
persons whom the FCA deems fit to confer membership.

Singapore Press Club

Besides the FCA, foreign correspondents based in Singapore can also join the Singapore Press
Club.

Established in 1971, the Press Club is the national club for people working in the media, public
relations and media-related areas here. Membership is broad-based, with members from
practically all local print and broadcast media as well as the growing number of foreign
journalists based here. Members meet regularly for lunch talks under the Eminent Speakers
Talk Series. The club invites politicians, media personalities, foreign dignitaries etc to give talks
and take part in forums and round-table discussions.
file:///C:/Users/Avigail/Downloads/mrsd_qtlmr183-stg.pdf - Labor force

https://www.ceicdata.com/en/indicator/singapore/foreign-direct-investment - FDI

https://tradingeconomics.com/singapore/foreign-direct-investment - FDI

https://www.a-star.edu.sg/News-and-Events/News/Press-Releases/ID/5737 - technology and science

https://tradingeconomics.com/singapore/inflation-cpi - inflation rate

https://en.portal.santandertrade.com/establish-overseas/singapore/foreign-investment - international
trade statistics

https://tradingeconomics.com/singapore/foreign-direct-investment - international trade statistics

https://www.euromonitor.com/intermediaries-in-singapore/report - intermediaries

https://www.mci.gov.sg/press-services/guide-for-foreign-media/media-in-singapore/media-
associations-in-singapore - media

https://sbr.com.sg/economy/commentary/singapore-and-philippines-more-just-trading-partners-0 -
Singapore dealings with Philippines
Chapter 3: The Product

Executive Summary

The Philippine mango industry has been consistently expanding. From below 80,000 ha in
1990, area has been increasing, approaching 200,000 ha by 2009. Initially, yield was also
increasing, from 6 t/ha in 1990 to 8 t/ha in 1997, before plummeting to current levels of only 4
t/ha. Aggregate production reached 1 million t in the late 1990s, and again in 2007, before
dropping to below 800,000 in 2011. Climate and pests remain major drivers of production; in
2008 for instance the drop in production was traced to typhoons, wind damage, anthracnose,
bacterial wilt, fruit flies, and leaf hoppers (BAS, 2008). The climatic conditions for mango
production are summarized as follows (Bally, 2006, p. 7):

Mango grows over a wide range of frost-free climates. The trees produce best in climates
that have a well defined, relatively cool dry season with high heat accumulation during the
flowering and fruit development period. Rain or free moisture (high humidity, heavy dew, and
fog) during the flowering and fruiting period is conducive to the development of fungal diseases
that cause flower and fruit drop. Climate and geography of the Philippines is described in Box 1.
Luzon possesses the climate ideal for mango growing; Luzon is by far the largest producer, with
more than half of its output coming from Ilocos Region. The bulk of Luzon's output is harvested
during the hot dry season of March to May. Year-round production is obtained 4 from Visayas
and Mindanao. Mindanao has the unique advantage of being mostly free from the typhoons,
which routinely strike about twenty times a year in the rest of the country

A. Introduction

In this section we will clarify the specific relationship of Mangoes of AgriNurture in Singapore.
You will know deeply who are our target market and what particularly our product is all about
and the quality of our mangoes compare to the quality of mangoes in Singapore. And what
distribution channel we use and how we came up in our price.

B. The Product

The mango is native to southern Asia, especially Burma and eastern India. It spread early on
to Malaya,eastern Asia and eastern Africa. Mangos were introduced to California (Santa
Barbara) in 1880. Forms: The mango exists in two races, one from India and the other from the
Philippines and Southeast Asia.

“The king of the fruits," mango fruit is one of the most popular, nutritionally rich fruits with unique
flavor, fragrance, taste, and heath promoting qualities, making it number one among new
functional foods, often labeled as “super fruits."

Mango is one of the delicious seasonal fruits grown in the tropics. The tree is believed to be
originating in the sub-Himalayan plains of the Indian subcontinent. Botanically, this exotic fruit
belongs to the family of Anacardiaceae, a family that also includes numerous species of tropical
fruiting trees in the flowering plants such as cashew, pistachio.
 C. The Market

Singapore, city, capital of the Republic of Singapore. It occupies the southern part of Singapore
Island. Its strategic position on the strait between the Indian Ocean and South China Sea,
complemented by its deepwater harbour, has made it the largest port in Southeast Asia and one
of the world’s greatest commercial centres. The city, once a distinct entity, so came to dominate
the island that the Republic of Singapore essentially became a city-state.

In 2017, Singapore maintained its position as the United States’ 13th largest export market and
advanced one rung to 18th largest trading partner. U.S. goods exports to Singapore were $29.8
billion, up 11.3 percent ($3.0 billion) in 2016, reflecting the sixth largest goods trade surplus of
US$10.4 billion.  Singapore is an important partner of the United States with a bilateral, gold
standard, Free Trade Agreement (FTA) signed in 2003 and implemented January 1, 2004. It
was the first U.S. FTA signed in Asia.

Singapore’s gross domestic product grew 3.6% in 2017 and the Singapore government expects
growth to be 2.5% to 3.0% in 2018. The U.S. position as Singapore’s third largest source of
imports was unchanged and China and Malaysia retained their first and second position
respectively, followed by Taiwan, Japan, South Korea, Indonesia, Germany, Saudi Arabia and
Switzerland.

D. Distribution of the Product

Mangoes are usually sold by retail stores in the whole world and when it is exported to the other
country the exporting country used other intermediaries to find business buyers in the importing
country. We can use agents as other intermediaries to find buyers in Singapore. Agents are
paid in commission for each sale and do not take ownership of the goods being sold. We will be
using Intertek agency for our agent to find buyers in Singapore.
In our advertising we will use social media and websites so the consumer can see the different
kinds of pearls and its quality we sell. They can also inquire to our social media pages and
websites like facebook, twitter, or instagram. We also have discounts for the consumer who will
buy in bulk orders of Fruits. The discount price will vary on how many boxes you buy and the
quality and size of the mangoes.
For the advertising media we will used online media because of its consistent growth in internet
penetration. Singaporean people are always connected to the internet through social media,
website browsing, and etc. This will give us an opportunity to use advertising media and cater to
customers using online advertising.
Online ads, blogs, content advertising, and affiliate marketing are all done using online as an
advertising media. This is also the easiest way to reach and introduce our product to our
importing country which is Singapore.
As for our sales promotion we can give sample of pearls for the company who will buy to us so
that they can see the qualities of the pearls we sell here in the Philippines. We can also give
discount when they buy bulk orders of pearl the said discount will vary by how many pearls the
company will buy and its sizes.
Description of Mango

https://www.crfg.org/pubs/ff/mango.html?
fbclid=IwAR3gHzm0vdKojKYYL8I46sEEIRWkdNbRMzbkwMiSi3zc_4zu4ZsKi9AS_s0

Singapore National Capital

https://www.britannica.com/place/Singapore-capital

Singapore Economy

https://www.heritage.org/index/country/singapore
Chapter 4: The Plan

Executive Summary

A. Market Objectives

As a small country, Singapore has limited agricultural land and domestic food production.  The
agriculture sector contributes less than 1% of the country’s GDP per capita and 0.119 % of labor
force in  2017 (source: World Bank).  Singapore produces mainly leafy vegetables and bean
sprout; and they are consumed domestically.   Local famers produce 20% of these vegetables
from hydroponic cultivation and the remaining 80% from soil cultivation. 

Agro-technology: in view of the country’s limited agriculture land, the country’s agricultural body,
the Agri-Food and Veterinary Authority, has taken the lead in shifting the sector towards agro-
technology.  Started in 1986, the agro-technology program comprises of three components:
development of agro-technology parks; development of agro-technology and agri-biotechnology
(knowledge of molecular biology applied to large scale and intensive farming); and promotion of
investments in the agri industry. 

With a total landmass of 1,465 hectares (3,620 acres), its six agro-technology parks, comprising
of 200+ farms, produce a diverse range of products, including livestock, eggs, milk, fruits,
vegetables, orchids, and aquarium and food fish.  The agro-technology parks comprise of
modern farms that develop and use advanced technologies for intensive farming systems and
export product and services to regional countries.
In developing Singapore as a hub of excellence in tropical agro-technology services, AVA has
developed an agri-botehcnology cluster in the Agri-Bio Park (ABP).  The APB comprises of
activities such as R&D in fish vaccines; food safety and animal/plant health testing; and post-
harvest technology.  

Fresh Fruit
The U.S. continued to dominate the fresh fruit market in 2017 due to price competitiveness,
quality, and promotional support provided by U.S. suppliers, brand recognition and supply
reliability. Despite a decrease of 12 % compared to 2016, the U.S. still registered a healthy $ 72
million in sales of fresh fruit last year.     In addition, Singapore’s highly developed cold chain
distribution system helps U.S. fruit prospects.  The top U.S. fresh fruit last year were grapes,
oranges, cherries and strawberries.  The U.S. faces strong competition from Malaysia, Australia,
China and South Africa.  

In general, local consumers highly regard U.S. fresh fruit quality.  Higher income also creates
more demand for certain premium air-flown fruit such as strawberries, plums, avocados,
blueberries, raspberries and cherries.  Local consumers are receptive to U.S. fresh fruit
promotional programs and attractive packaging, and educational materials.  U.S. exporters have
excellent opportunities in the main retail channels of supermarkets, hypermarkets and
convenience stores.  The fresh fruit market is competitive, with extremely price sensitive
retailers and consumers.  Street stalls and kiosks selling fresh cut fruit have become
increasingly prevalent in malls. 
.
B. Distribution

Origin Port
The port of origin is where the products of AgriNurture will be shipped from. The port of origin
will be in manila south harbor. The Philippines have 429 fishing ports and 821 commercial ports.
The Port of Manila is the largest seaport in the Philippines, and is the premier international
shipping gateway to the country.
Destination Port
The port of destination is a port where the goods are being received from. In other words, it is
the port where the goods are being sent to, and also where the buyer is near or most
convenient or residing since he is the one buying the goods. The port of destination will be in
Singapore.
Modes of Transportation
AIR FREIGHT
It is the fastest way to ship your cargo but it is costly. Air freight is your best option for time
sensitive cargo. As an importer when you are in a rush to bring your cargo to its final
destination, air freight is the fastest and most secure way. Using a 3-4 day transit time air carrier
service is always less costly then direct air carriers. Ask your logistics partner to offer you
several air cargo carrier options. Based on your need choosing a longer transit time air carrier
option can save you money.
Advantages:
 deliver items quickly over long distances
 give you high levels of security for sensitive items
 be used for a range of goods

Disadvantages

 air transport can involve higher costs than other options, and is not suitable for all goods
 flights are subject to delay or cancellation 
 you will need to pay taxes at each airport you use
 fuel and currency surcharges will usually be added to freight costs
 further transportation may be needed from the destination airport to the final destination

OCEAN FREIGHT:
There are 2 ways of shipping ocean; FCL(Full Container Load) or LCL (Less Than Container
Load)
FULL CONTAINER LOAD OCEAN FREIGHT: 
It is the most efficient way to ship your cargo. Commonly used container sizes are 20STD,
40STD and 40HC. There are also numerous types of ocean containers used for international
ocean freight transportation, including 45HC. open top, flat racks etc. Based on your volume
and type of product, your logistics partner can suggest what type of container will be more
suitable and cost saving for you.
LESS THAN CONTAINER LOAD OCEAN FREIGHT:
It is commonly used if you don’t have enough cargo to fill a container load. You pay only for the
space used in the container. Typically LCL rate is calculated by volume but not by weight.
Always discuss with your logistics partner if you need LCL or FCL service. There is always a
breaking point where LCL or FCL shipment might be more cost savings for you. Once you ship
LCL you share the containers with other importers and there are more add on costs since the
container needs to go CFS (Container Freight Station) to be split. Shipping the container with a
little bit empty space but as FCL might be cheaper then sharing with others as LCL.
Advantages
 you can ship large volumes at low costs - a freight forwarder can consolidate
consignments to reduce costs
 shipping containers can also be used for further transportation by road or rail

Disadvantages
 shipping by sea can be slower than other transport modes and bad weather can add
further delays
 routes and timetables are usually inflexible
 tracking your goods’ progress is difficult
 you have to pay port duties and taxes

AgriNurture will be using ocean plus land. After we ship our product from here, which we will be
delivered by DHL in Singapore. When the receiver of the package whether he/she is the
business owner or an representative of his/her business he/she can will be using truck or any
transportation in land to get to the ward we will be targeted.

C. Packaging

Our packaging for our products will be wraped by a bubble wrap and place it inside a card board
box. Different sizes and quality will be separate to each one.
As for the labeling requirements imposed here in the Philippines specified in the consumers act.
of the Philippines (Republic Act No.7394). All consumer products sold domestically, whether
manufactured locally or imported, must contain the following information on their labels:

 Correct and registered trade or brand name;

 Registered trademark;
 Registered business name and address of the manufacturer, importer, or repacker of the
consumer product in the Philippines;
 General make or active ingredients;
 Net quality of contents, in terms of weight; and,
 Country of manufacture if imported.
A cardboard box cost 20php while the bubble wrap(5x1 meters) is 250 pesos.150php for a
printed corrugated box and for a 15 cubic ft loose fill is 1160pesos. 3m/lot 1.5m wide is
728phpfinal

D. Channel of Distribution

For our channel distribution we will use retailers whose widely known in Singapore.

Sheng Siong stores are primarily located in retail locations in the heartlands of Singapore, and
designed to provide our customers with both “wet and dry” shopping options, including a wide
assortment of live, fresh and chilled produced.

Giant is a hypermarket and retailer chain with presences in stores around Southeast Asia. In
Singapore it’s the largest mass market retailer of everyday items with over 62 stores located
across the island, from popular shopping districts to convenient neighborhood areas.

Established in 1903, Cold Storage Supermarket is a popular household name trusted by

consumers in Singapore. Cold Storage is among the leading supermarket chains in Singapore
with 54 Stores Islandwide. Billed as “The Fresh Food People” Cold Storage Supermarket is
committed to delivering value and variety based on ethnic mix, freshness, innovative food ideas,
superior customer service and a pleasant shopping environment that enhance consumers’
lifestyles. Cold Storage Supermarket is part of public-listed Dairy Farm Group, a leading pan-
Asian retailer.
http://www.newworldencyclopedia.org/entry/Singapore

https://www.export.gov/article?id=Singapore-Agricultural-Sectors
Cold Storeage Market
https://www.takashimaya.com.sg/post_store/cold-storage/
Giant Market
https://giant.sg/about-us/
Sheng Siong Market
https://www.streetdirectory.com/shengsiong/
International trade administration(2017) Labeling marking requirements
https://www.export.gov/article?id=philippines-Labeling-Marking-Requirements
DA programs(2018) Export requirements
daprograms.da.gov.ph/export_desk/pdf/BOC_DOF.pdf
Investopedia(2018) about letter of credit
https://www.investopedia.com/terms/letterofcredit.asp