The global economy is currently sending mixed messages. The West is generally struggling, with troubling macroeconomic issues in the US tied closely to job losses and unemployment, and major sovereign debt and financial sector problems in Europe.
On the other hand, Asia is faring well, with economies functioning relatively efficiently with plenty of liquidity and credit. Asia's banking system is operating smoothly, corporates are healthy and people have high savings rates.
Based on discussions during the KPMG 2012 Pre-Budget Forum held on 27 October 2011, this paper looks at some of the key issues facing Singapore and highlights some of the ways in which they could be addressed in Singapore’s Budget 2012.
KPMG would like to thank all guests who attended the forum, and in particular the following for taking part in the discussion:
- Mr Clinton Ang, Managing Director, Hock Tong Bee Pte Ltd
- Mr Brendan Egan, Tax Director, Chartis Asia Pacific Pte Ltd
- Ms Goh Mui Hong, President & Chief Executive Officer (CEO), ST Asset Management Ltd
- Mr Jimmy Koh, Head of Economic-Treasury Research, Global Markets & Investment Management, United Overseas Bank, who also presented his views on the global economy.
We would also like to thank Mr Melvin Yong, General Manager (Singapore), CPA Australia for chairing the discussion.
Tay Hong Beng
Head of Tax Services
KPMG in Singapore
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Tay Hong Beng, Head of Tax Services, KPMG in Singapore
Mr Clinton Ang, Managing Director, Hock Tong Bee Pte Ltd
Mr Jimmy Koh, Head of Economic-Treasury Research, Global Markets & Investment Management, United Overseas Bank
Ms Goh Mui Hong, President & Chief Executive Officer (CEO, ST Asset Management Ltd
Mr Brendan Egan, Tax Director, Chartis Asia Pacific Pte Ltd
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