Digitial Thesis (PDF 7MB)

Total Page:16

File Type:pdf, Size:1020Kb

Digitial Thesis (PDF 7MB) Exploratory study of the adoption of online shopping in Singapore Lee Pek Lin Pearline A thesis submitted in partial fulfilment of the requirements for the degree of Masters by Research Queensland University of Technology Faculty ofBusiness 2003 Acknowledgements Sincere thanks to Professor Nell Arnold, who gave ·me much support and advice. Her dedication and great knowledge as a researcher was invaluable. Her patience and sincerity in helping me learn is remarkable and is greatly appreciated. In addition, this study would not be possible without the love and support from my family. Their confidence and faith in me gave me courage and determination. Special thanks to Adam Johns, for his time and efforts despite a busy schedule to provide assistance to this study. Lastly, many thanks to the staff from the Faculty of Business and to all at the research office for their kind friendship and assistance. CONTENT PAGE CONTENTS· PAGE NO. Chapter 1 INTRODUCTION 1) Internet 1 1.1) Research Objective 3 1.2) Research Background 4 1.3) Literature Review 7 1.4) Research Framework 8 1.5) Contribution of Research 10 1.6) Research Design 12 Chapter 2 LITERATURE REVIEW 2) Singapore 15 2.1) Singapore Internet Users 19 2.2) Infocomm Literacy in Singapore 25 2.3) Singapore Government 27 2.4) Singapore Telecommunication Infrastructure 33 2.5) Singapore Retail Shopping Scene 35 2.6) Singapore Culture 37 2.7) Credit Card Ownership 43 2.8) Innovations 45 2.8.1) Technological Innovation 45 2.9) Innovation and Adopter Categories 47 2.10) Consumer Innovativeness 49 2.11) Internet as an Innovation 51 2.12) Innovation-Decision Process 52 2.13) Innovation and Culture 53 2.14) Introduction of Internet 57 2.15) Internet Users 57 2.16) Online Segmentation 58 2.17) Online Activities 60 2.17.1) Online Activities - Communication 62 - Information 64 - Online shopping 65 2.18) Online Shopping 67 2.19) Barriers to online shopping 74 2.20) Perceived risk and de-motivators 75 2.21) Security issues 76 2.22) Privacy Issues 77 2.23) Theoretical Framework 80 2.24) Internet E-business 81 Chapter 3 RESEARCH METHODOLOGY 3) Introduction 83 3.1) Methodology 84 3.2) Sample 89 3.3) Interview Procedure 91 3.4) Recording ofData 94 3.5) Research Assistant or Second Party Recorder 97 3.6) Ethics 98 3.7) Research Tools 99 3.8) Interview Session 100 3.9) Data Analysis 102 3.10) Limitation of study 104 3.11) Delimitation of Study 106 3.12) Summary 106 Chapter4 PRESENTATION OF FINDINGS AND ANALYSIS 4.1 Question 1 108 Analysis 109 Question 2 111 Analysis 112 Question 3a 114 Analysis 115 Question 3b 116 Analysis 117 Question 4a 119 Analysis 120 Question 4b 122 Analysis 123 Question 5 124 Analysis 125 Question 6 127 Analysis 128 Question 7 130 Analysis 131 Question 8 133 Analysis 134 Question 9 135 Analysis 136 Question 10 138 Analysis 138 4.2) Unique Findings 139 4.2.1) Role of Government 139 4.2.2) Generation Gap 141 4.2.3) Culture 144 4.2.4) Perceived Risk 147 Chapter 5- SUMMARY AND CONCLUSION 5) Introduction 149 5.1) Summary 150 5.1.1) Adoption ofthe Internet in Singapore 152 Characteristics of Innovation 152 Innovation-Decision Process 155 Adoption of Innovation 156 5.1.2) Adoption of online shopping in Singapore 158 Introduction 158 Singapore 158 Adoption of online shopping 159 Unique finding 160 5.2) Main themes to non-adoption of online shopping 162 5.3) Burst of dot com 166 5.4) Comparative analysis between offline shopping and online shopping 167 with data obtained from the Interview session 5.5) Recommendation for future adoption of online shopping 169 Adoption of online activities 170 Benefits of online shopping- savings in time 172 Improvement ofTechnology 175 Change Agents 175 5.6) Conclusion 176 5.7) Recommendation for further research 179 FIGURES Figure 1 Developed for the purpose of this study 8 Figure 2 Long Qualitative Interview: Four-Part Method oflnquiry 12 Figure 3 Literate Resident Population aged 15 years and over 17 by languages literate Figure 4 Highest qualification attained for age groups 25-54 years 18 Figure 5 Main reasons for not owning home computers 20 Figure 6 Awareness and Uses oflntemet 22 Figure 7 Main reason for not shopping/buying online 24 Figure 8 National IT Plan 28 Figure 9 Four IT Policy Regimes 29 Figure 10 The Role of Government 31 Figure 11 HDB planning standards of retail facilities 35 Figure 12 The web of unique influences on Singaporean culture 41 Figure 13 The Technology Adoption Life Cycle 47 Figure 14 Consumer Innovativeness 49 Figure 15 Previous studies' conclusions on cultural influences on innovation 55 Figure 16 Developed for the purpose of this study 60 Figure 17 Consumer decision-making process 65 Figure 18 The customer life cycle from Introduction to Loyalty 72 Figure 19 Adoption and diffusion process model 80 Figure 20 E-business across the enterprise 81 Figure 21 Qualitative versus quantitative research 85 Figure 22 Components of Data Analysis: Interactive Model 102 Figure 23 Developed from this research 167 Figure 24 Developed from this research 170 Figure 25a Developed from this research 172 Figure 25b Developed from this research 173 TABLES Table 1 108 Table 2 111 Table 3 114 Table 4 116 Table 5 119 Table 6 122 Table 7 124 Table 8 127 Table 9 130 Table 10 133 Table 11 135 Table 12 138 REFERENCES APPENDIX Appendix 1 Letter to Interviewees Appendix 2 Interview Questions Abstract This paper explores the adoption of Internet and online activities amongst Singapore users. The Internet has grown phenomenally in terms ofsignificance and importance since its introduction. Usage of Information Technology is making its impact on both the conduct of businesses and consumer behaviours. Research analysts predict that Information Technology usage in Asia will increase and web-users will outnumber U.S by 2005. Growth of the Internet is attributed to the high usage of electronic mails (e-mails). Online shopping is an activity that can be conducted with the use ofthe Internet. However, this activity is more complex than the use ofe-mail. Online shopping has received much attention by consumers in U.S and Europe leading to an increase in research conducted. Factors identified from the above studies may not imply to the case of Singapore due to differences in culture. A lack of research in Asia, leads to a need to identifY factors that will influence the adoption of online shopping behaviour in Singapore. Singapore is a developed country and has excellent information infrastructure. This infrastructure is perceived to have contributed significantly to a high penetration rate of the Internet in Singapore. The 2000 consensus on household's usage of the Internet in Singapore showed that communication is the main activity among Internet users. An interesting finding from this survey revealed that the awareness level of online shopping among users was at 81.1 percent but usage was only at 16.2 percent. This gap was the largest amongst other activities measured. Exploration of factors leading to adoption or non-adoption in the case of Singapore will be identified to provide a better understanding ofonline shopping behaviour in Singapore. An exploratory study consisting of personal interviews with experts in the field will be used to investigate cause of adoption of the Internet as well as the gap existing between awareness level and adoption of online shopping. These 15 experts are from the fields of e-commerce, educators and the media. Interview data will be analysed and compared between groups of perceptions amongst these experts. Findings will show differences and similarities of perceptions between groups of factors that are motivating and de-motivating adoption. In addition, perception on future adoption of online shopping will be discussed. This would then serve to reflect upon other factors found in previous studies in oiher countries to have any relevance to Singapore context. This research has included country's culture as an explanatory variable in the study of adoption of online shopping. The research findings will contribute to the knowledge and provide input for future researchers to verifY its impact in other country's context. Practical contribution through this research offers a better understanding to consumer 's adoption of online shopping in Singapore and suggests areas of market growth. Implications for strategy suggest that retailers will then be able to understand and target effectively segments of the market with the highest potential for growth and buying behaviour ofSingaporeans. Keywords Online shopping, culture, innovation, perceived risk, Singapore GLOSSARY B2B Business to Business B2C Business to Consumer C2C Consumer to Consumer ISP Internet Service Provider HDB Housing Development Board IDA InfoCommunication Development Authority of Singapore Online Transactions - Includes online banking, online trading and online shopping Online Shopping Online ordering and payment IT Information Technology Internet activities is used interchangeably with online activities Chapter 1 INTRODUCTION 1) Internet The Internet has experienced worldwide acceptance since its introduction. The Internet industry has been phenomenal since its introduction into the consumer market in 1992 and has affected many in a myriad of ways (Prabhaker, 2000; Klobas & Clyde, 2001). The growing importance of the Internet as a technological service (Sultan & Henrichs, 2000) and consumer's usage of the Internet has interested many researchers and analysts led to many studies being conducted (Katz & Aspen, 1997). This is further demonstrated by monitoring of online usage by consulting firms such as Forrester Research (www.forrester.com), A.C. Nielsen (www.acnielsen.com), Gartner (www4.gartner.com) and Boston Consulting Group (www.bcg.com) demonstrating a collective need to understand the Internet phenomena and how it is utilized by consumers.
Recommended publications
  • Singapore: the Location of Choice for Asset and Wealth Management in Asia Pacific
    Singapore: the location of choice for asset and wealth management in Asia Pacific Lorem ipsum dolor sit amet 2 | PwC Contents Singapore as a location for asset managers 4 Singapore’s asset management landscape 12 Fund manager regime in Singapore 16 Investment funds in Singapore 21 Singapore market entry report 28 Asian investment fund centre 31 Connect with our experts 32 Singapore - Asset and Wealth management location of choice in Asia Pacific | 3 Singapore as a location for asset managers 4 | PwC Introducing Singapore A global business hub Singapore is strategically located the heart of Southeast The USD-SGD exchange rate has remained largely Asia. The country is 724 square kilometers, or 280 square stable over the last ten years, trading in the band of miles. Whilst smaller than other financial centres like 1.2 - 1.45. London, New York, or Hong Kong, it’s small size is no Having a small and open economy, Singapore’s impediment to its role as a global asset and wealth monetary policy has thus been centered on the management centre. management of the exchange rate, with the primary With a population of 5.8 million in 2019, one of Singapore’s objective of promoting medium term price stability as a strengths is its diverse population. Comprising three main sound basis for sustainable economic growth. ethnic groups and cultures, with smaller ones interspersed These are essential factors that enhance the ecosystem across the community, Singapore’s workforce is able to and economical support of Singapore as a choice communicate culturally and linguistically with the key location for setting up fund management operations markets of China and India, as well as engaging on the focused on investments in Asia, particularly in India and global scale.
    [Show full text]
  • Accident Final Report
    According to the International Civil Aviation Organization (ICAO) Annex 13, Chapter 3, Section 3.1; The sole objective of the investigation of an accident or incident shall be the prevention of accidents and incidents. It is not the purpose of this activity to apportion blame or liability. Further, according to the Civil Aviation Law of The Republic of China, Article 84; ASC shall focus on the identification, investigation and cause assessment of aircraft accident or serious incident on preventing the recurrence of similar accident or serious incident, rather than on dispensing penalty or pursuing responsibility. Thus, based on Both the ICAO Annex 13, as well as the Civil Aviation Law of the Republic of China, this accident investigation report, as the result of the investigation effort of SQ006, shall not be used for any other purpose than to improve safety of the aviation community. AIRCRAFT ACCIDENT REPORT CRASHED ON A PARTIALLY CLOSED RUNWAY DURING TAKEOFF SINGAPORE AIRLINES FLIGHT 006 BOEING 747-400, 9V-SPK CKS AIRPORT, TAOYUAN, TAIWAN OCTOBER 31, 2000 AVIATION SAFETY COUNCIL TAIWAN, REPUBLIC OF CHINA AIRCRAFT ACCIDENT REPORT Crashed on a Partially Closed Runway during Takeoff, Singapore Airlines Flight 006, Boeing 747-400, 9V-SPK, CKS Airport, Taoyuan, Taiwan, October 31, 2000 Editor:Aviation Safety Council Copyright © 2002 Aviation Safety Council 16th Floor, 99 Fu-Hsing North Road Taipei 105, Taiwan, R. O. C. Tel:+886-2-25475200 Fax:+886-2-25474975 URL:www.asc.gov.tw GPN 1009101135 ISBN 957-01-0999-8 NT$1500 Executive Summary On October 31, 2000, at 1517 Coordinated Universal Time (UTC), 2317 Taipei local time, Singapore Airlines (SIA) Flight SQ006, a Boeing 747-400 aircraft, bearing Singapore registration No.
    [Show full text]
  • Singapore's Digital Transformation
    SECTOR BRIEFING number DBS Asian Insights DBS Group60 Research • May 2018 Singapore’s Digital Transformation 19 DBS Asian Insights SECTOR BRIEFING 60 02 Singapore’s Digital Transformation Sachin MITTAL Equity Analyst DBS Group Research [email protected] Sue Lin LIM Equity Analyst DBS Group Research [email protected] Andy SIM Equity Analyst DBS Group Research [email protected] Paul YONG Equity Analyst DBS Group Research [email protected] Derek TAN Equity Analyst DBS Group Research [email protected] Alfie YEO Equity Analyst DBS Group Research [email protected] Lee Keng LING Equity Analyst DBS Group Research [email protected] Suvro SARKAR Equity Analyst DBS Group Research [email protected] Produced by: Rui Wen LIM Asian Insights Office • DBS Group Research Equity Analyst DBS Group Research go.dbs.com/research [email protected] @dbsinsights [email protected] Glenn NG Equity Analyst Goh Chien Yen Editor-in-Chief DBS Group Research Jean Chua Managing Editor [email protected] Martin Tacchi Art Director 19 DBS Asian Insights SECTOR BRIEFING 60 03 04 Digital Transformation in Singapore – Cherry-picking Proactive Leaders and Fast Followers 09 Digital Contribution to GDP Financial Services Aviation Telecoms Retail Transportation Logistics 40 Singapore Smart Nation Strategic Government Projects Other Ongoing Smart Nation Projects 55 Appendix DBS Asian Insights SECTOR BRIEFING 60 04 Digital Transformation in Singapore – Cherry-picking Proactive Leaders and Fast Followers Digital transformation initiatives in Singapore are all about embracing technology-driven disruption to stay ahead, while enabling nimble players to compete in the new arena. The aim is to create an industry-wide level playing field to better serve consumers in the long term.
    [Show full text]
  • Current State of Co-Operative Research in Asia and Future Strategies Akira
    Current state of co-operative research in Asia and future strategies Akira Kurimoto Director, CCIJ 1. Current state of co-operative research in Asian Region 1-1. State of co-operative research at national and local levels The co-operative researches have been conducted in universities, institutes and co-op organizations. Generally researchers had been isolated and sporadic in each country and in the region while collaboration between co-operative organizations and researchers had been weak. In such countries such as India, Japan and Korea national societies for co-operative studies were organized to coordinate research efforts but their focus had been mostly domestic and there is little exchange among them except for Japan and Korea. The agricultural economics had been the predominant discipline since most of the region had been relied on agriculture, but the industrialization needed to involve other disciplines such as management and marketing, sociology, history, finance and so on in co-operative research. In Japan, there are co-operative institutes established and funded by co-operative federations and primary co-ops; 11 at national level and dozens at local level. There is little coordination among them except for among some sectoral organizations. There are no co-operative contents in school education while co-operative courses at universities are shrinking mainly due to the downsizing agriculture. The Japanese Society for Co-operative Studies (JSCS) was set up in 1980 to promote interdisciplinary and transversal researches on co-operatives, involving both co-operators and researchers. But its membership has declined from 800 to 600 since it could not attract younger generation in comparison with the newly born nonprofit studies.
    [Show full text]
  • The Prospects for Old-Age Income Security in Hong Kong and Singapore
    1 London School of Economics and Political Science The prospects for old-age income security in Hong Kong and Singapore Ng Kok Hoe A thesis submitted to the Department of Social Policy at the London School of Economics for the degree of Doctor of Philosophy, London, September 2013 2 Declaration of Authorship I certify that the thesis I have presented for examination for the MPhil/PhD degree of the London School of Economics and Political Science is solely my own work other than where I have clearly indicated that it is the work of others (in which case the extent of any work carried out jointly by me and any other person is clearly identified in it). The copyright of this thesis rests with the author. Quotation from it is permitted, provided that full acknowledgement is made. This thesis may not be reproduced without my prior written consent. I warrant that this authorisation does not, to the best of my belief, infringe the rights of any third party. I declare that my thesis consists of 99,613 words. 3 Abstract Family support is the central pillar of old-age income security in Hong Kong and Singapore. But demographic ageing, among the fastest internationally, implies fewer adult children to provide support, while the public pension systems remain lean even by East Asian standards. Future elderly cohorts therefore face growing risks of financial hardship. This study examines the current extent of this problem, its prospects in the coming decades, and the possibilities of pension reform. It is unique in combining historical and prospective approaches towards policy causes and effects within a comparative framework.
    [Show full text]
  • Credit Bureau Asia Ltd ADD
    INITIATION Company Note Financial Services - Others │ Singapore │ March 16, 2021 Insert Insert Singapore Credit Bureau Asia Ltd ADD Consensus ratings*: Buy 0 Hold 0 Sell 0 Resilient through peaks and troughs Current price: S$1.26 ■ CBA’s value proposition lies in the need for credit information to assess Target price: S$1.53 counterparty risks across periods of economic growth and market uncertainty. Previous target: N/A ■ Its resilient business model held revenues steady through Covid-19, rising Up/downside: 21.2% 7% yoy in FY20 as bulk risk reviews offset weaker credit application volumes. CGS-CIMB / Consensus: na ■ We initiate coverage on CBA with a TP of S$1.53. The commencement of the Reuters: TCU.SI commercial credit info business under its FI Data Business is a key catalyst. Bloomberg: CBA SP Market cap: US$215.7m S$290.3m Dominant market position in Singapore; resilient business model Average daily turnover: US$1.48m Credit Bureau Asia Limited (CBA) is Singapore’s market leader (by revenue) in the credit S$1.96m and risk information solutions (CRIS) space. We view CBA’s business model to be Current shares o/s: 203.5m resilient across economic cycles – as a gauge of creditworthiness during periods of Free float: 24.7% economic growth and to assess counterparty risk during cycle troughs. The defensive *Source: Bloomberg nature of CBA’s operations boosted revenues by +7% yoy in FY20 as stronger demand for review reports from financial institutions and commercial clients offset weaker loan applications volumes. We expect the risk review volumes to sustain as business sentiment recovers, underpinning EPS growth expectations of 8-28% yoy in FY21-22F.
    [Show full text]
  • Singapore Digital Transformation Refer to Important Disclosures at the End of This Report
    Singapore Market Focus Singapore Digital Transformation Refer to important disclosures at the end of this report DBS Group Research . Equity 15 May 2018 Cherrypicking Pro-active Leaders and Fast-Followers Singapore’s Digital Transformation – Challengers versus Playing field across the sectors in Singapore is shifting fast Incumbents Banks are Pro-active Leaders while Aviation and Logistics incumbents are Fast Followers Companies we like are– Singapore Airlines, Singapore banks, iFast, ST Engg, Singtel, SingPost, MapleTree Commercial Trust & Y Ventures. Why should one pay attention to the playing field? We define the playing field as a function of technological capabilities and regulations, and it may favour either challengers or incumbents, depending on the swing of these two factors. We looked at the market share secured by the digital challengers so far and the incumbents’ adaptiveness of the digital model to understand the tilt of the playing field. In our view, there is a level playing field across the financial, logistics, and aviation sectors now, whereas the playing field is tilted in favour of digital challengers in the retail and land transportation sectors. Favor incumbents who are Pro-active Leaders or Fast Source: DBS Group Research Followers. Fintech players in Singapore have secured negligible market share so far with many of them adopting Business to Business (B2B) model. Singapore Banks, supported by a nimble regulator, are trying to leverage their customer base to embed STOCKS banking services into e-commerce transactions, using public cloud 12-mth services to cut costs and launching application programming Price Mkt Cap Target Performance (%) interfaces (APIs) for third parties to transform into a platform.
    [Show full text]
  • News Flows in Singapore
    Culture and Communication News Flows in Singapore “From Third World to First”: The Development of Disseminating News Towards a “More Just and More Efficient Information Order” Dissertation zur Erlangung des akademischen Grades doctor philosophiae (Dr. phil.) eingereicht an der Philosophischen Fakultaet III der Humboldt-Universitaet zu Berlin von Carl Alexander Haentzschel geboren am 26. August 1975 in Mainz wohnhaft in Carl-Herz-Ufer 23, 10961 Berlin Matrikelnummer 138905 Praesident der Humboldt-Universitaet zu Berlin Prof. Dr. Christoph Markschies Dekan der Philosophischen Fakultaet III Prof. Dr. Thomas Macho Gutachter: 1. Prof. Dr. Thomas Macho 2. Prof. Dr. Hans J. Kleinsteuber Datum der muendlichen Pruefung: 22.08.2007 Druckversion Culture and Communication News Flows in Singapore “From Third World to First”: The Development of Disseminating News Towards a “More Just and More Efficient Information Order” Content Page 1. Introduction 1.1 Subject of this dissertation 9 1.1.1 Restraints of the subject 13 1.1.2 Relevance of the thesis 14 1.2 Structure and methods 15 1.2.1 Availability of data 16 1.2.2 Selection of sources 17 2. Definitions 2.1 Definitions of culture-related terms 19 2.2 Definitions of communication-related terms 22 2.3 Definitions of media-related terms 24 3. Retrospection 3.1 Origins of the discussions about news flows 27 3.1.1 The discussions in the 1970s and 1980s 30 3.1.2 The role of UNESCO in the discussions 34 3.2 Main parts of the report 38 3.2.1 Recommendations of the commission 42 3.3 Perceptions of the report 47 3.3.1 The perspective from the South 51 4.
    [Show full text]
  • Molecular Epidemiology of Human Enterovirus 71 Strains and Recent
    RESEARCH Molecular Epidemiology of Human Enterovirus 71 Strains and Recent Outbreaks in the Asia-Pacific Region: Comparative Analysis of the VP1 and VP4 Genes Mary Jane Cardosa,* David Perera,* Betty A. Brown,† Doosung Cheon,‡ Hung Ming Chan,* Kwai Peng Chan,§ Haewol Cho,‡ and Peter McMinn¶ This study provides a comprehensive overview of the high mortality in Taiwan in 1998 and 2000 (10,11), have raised molecular epidemiology of human enterovirus 71 (HEV71) in considerable public concern about the virulence of this virus the Asia-Pacific region from 1997 through 2002. Phylogenetic and the disease syndromes most recently attributed to it analysis of the VP4 and VP1 genes of recent HEV71 strains (12–14). indicates that several genogroups of the virus have been circu- Several groups have attempted to describe the molecular lating in the Asia-Pacific region since 1997. The first of these recent outbreaks, described in Sarawak (Malaysian Borneo) in epidemiology of HEV71 in the Asia-Pacific region, and the 1997, was caused by genogroup B3. This outbreak was fol- phylogenetic relationships of recent HEV71 strains to earlier lowed by large outbreaks in Taiwan in 1998, caused by strains from Asia and other parts of the world have been genogroup C2, and in Perth (Western Australia) in 1999, where described (15–19). In the past 4 years, nine publications have viruses belonging to genogroups B3 and C2 cocirculated. presented comparative analyses of HEV71 strains based on Singapore, Taiwan, and Sarawak had HEV71 epidemics in several genome regions (Table 1). Taken together, more than 2000, caused predominantly by viruses belonging to genogroup 250 HEV71 strains isolated from the region between 1997 and B4; however, large numbers of fatalities were observed only in 2002 have been analyzed by different groups.
    [Show full text]
  • Original Paper Singapore Model and Mainland China Model in Terms Of
    Advances in Politics and Economic ISSN 2576-1382 (Print) ISSN 2576-1390 (Online) Vol. 1, No. 2, 2018 www.scholink.org/ojs/index.php/ape Original Paper Singapore Model and Mainland China Model in Terms of GDP Development Hui-Chin Lai1* 1 Graduate Institute of Political Economy, National Cheng Kung University, Tainan, Taiwan (Republic of China) * Hui-Chin Lai, Graduate Institute of Political Economy, National Cheng Kung University, Tainan, Taiwan (Republic of China) Received: July 22, 2018 Accepted: August 8, 2018 Online Published: August 10, 2018 doi:10.22158/ape.v1n2p91 URL: http://dx.doi.org/10.22158/ape.v1n2p91 Abstract The research investigates the Singapore model and mainland China model in terms of its’ GDP development. It covers ideologies, methods and reasons for government interventions, the roles of state-owned businesses and the issues of labor in accordance to the different stages of GDP development. The interventions from the governments that caused the market to rebound and resilience are found in two countries. The article also redefines the developmental state as unlimited methods and ideologies under a government-led economic development economy. Keywords Country’s GDP Development, Singapore Model, Mainland China Model, Developmental State, Government Interventions, Market Resilience, Labor Issues 1. Introduction Singapore was originally a place with limited resources and a small island with poor soil. In 1965 during its independence, Singapore’s relationship with its neighbor Malaysia was not friendly at the time, and the country must survive on its own ever since. In the process of becoming independent, Singapore’s government played an important role in the economy.
    [Show full text]
  • APANPIRG/11-WP/4 International Civil Aviation Organization
    APANPIRG/11-WP/4 International Civil Aviation Organization ELEVENTH MEETING OF THE ASIA/PACIFIC AIR NAVIGATION PLANNING AND IMPLEMENTATION REGIONAL GROUP (APANPIRG/11) Bangkok, Thailand, 2 – 6 October 2000 Agenda Item 2: ASIA/PAC Air Navigation System and Related Activities 2.2 COM/MET/NAV/SUR SG/4 Report REPORT OF THE FOURTH MEETING OF COMMUNICATION/METEOROLOGY/NAVIGATION/SURVEILLANCE SUB-GROUP (COM/MET/NAV/SUR SG/4) (Presented by the Chairman, COM/MET/NAV/SUR Sub-Group) SUMMARY This paper presents a report of the Fourth Meeting of the COM/MET/NAV/SUR Sub-Group for review and appropriate action. 1. Introduction 1.1 The fourth meeting of COM/MET/NAV/SUR Sub-Group was held in Bangkok from 17 to 21 July 2000. The meeting was attended by 86 experts from 18 States, two International Organizations and 2 communication service providers. 2. Discussion 2.1 The meeting formulated 3 draft Decisions, 2 Decisions and 19 draft Conclusions. 2.2 The report of the COM/MET/NAV/SUR SG/4 is provided in Attachment to this working paper. 3. Action by the Meeting 3.1 The APANPIRG/11 is expected to: i) review report of the COM/MET/NAV/SUR SG/4 meeting; and ii) take actions with respect to the draft Decisions and draft Conclusions formulated by the COM/MET/NAV/SUR SG/4 meeting. INTERNATIONAL CIVIL AVIATION ORGANIZATION ASIA AND PACIFIC OFFICE REPORT OF THE FOURTH MEETING OF COMMUNICATIONS/METEOROLOGY/NAVIGATION/SURVEILLANCE SUB-GROUP (COM/MET/NAV/SUR SG/4) OF APANPIRG BANGKOK, THAILAND 17 – 21 JULY 2000 Approved by the Meeting and published by the ICAO Asia and Pacific Office The views expressed in this Report should be taken as those of the Sub-Group and not of the Organization.
    [Show full text]
  • Singapore Variable Capital Company
    Singapore Variable Capital Company The game changer for asset management in Asia Pacific #RiskandRegs To get a full download on the VCC and the latest developments, please visit our website at pwc.to/2BZXl2E 2 Singapore Variable Capital Company | Contents 01 Key highlights page 4 02 Introduction page 5 03 Why is it needed? page 8 04 What is a VCC? page 10 05 Key features further explained page 14 06 Overview of tax regime page 22 07 Comparing VCC with its peers page 28 08 Redomiciliation of Funds to Singapore page 50 09 Top 10 use cases of the VCC page 54 10 Singapore as a location for asset managers page 62 11 Singapore’s asset management landscape page 72 12 Fund manager regime in Singapore page 76 13 Investment funds in Singapore page 82 14 Next steps page 88 15 Singapore market entry report page 90 16 Asian Investment Fund Centre page 93 17 Connect with our experts page 94 | Singapore Variable Capital Company 3 Key highlights A legal entity specifically for A VCC can be set up as a stand- investment funds that can be alone entity, or as an umbrella entity used for traditional and with multiple sub-funds. alternative strategies, both on an open- ended and closed- ended basis. Foreign corporate fund structures The capital of a VCC will always can be inward re-domiciled be equal to its net assets, thereby to Singapore as a VCC. providing flexibility in the distribution and reduction of capital. A VCC could avail itself of the US VCCs require a “check-the-box” election.
    [Show full text]