Greening Singapore in myriad ways

THE Istana, Changi Airport and Jurong Lake Gardens share another common denominator besides being Singapore landmarks - and that is Mao Sheng Quanji Construction, a landscaping firm.

Singapore economy beats expectations with 5.2% growth in Q3, 2017 forecast raised to 3-3.5%

SINGAPORE'S economy performed much better than expected this year due mostly to a strong showing in electronics, prompting the Ministry of Trade...

Money

Single QR code system at hawker centres soon

Pay for a plate of chicken rice by scanning a QR code using your phone? Consumers here will soon be able to do so at hundreds of hawker stalls...

PayNow to rope in businesses; Singapore plans for payment links abroad

SINGAPORE'S local and overseas payment systems are getting a big boost with a rollout of initiatives to beef up the Republic's cashless efforts, and plans for payment linkages with neighbouring...

PayNow extends to businesses from 2018

THE first peer-to-peer fund-transfer service in Singapore is expected to be extended to corporates and businesses in 2018, as Singapore ramps up its cashless services to bring greater efficiency...

IE SINGAPORE Tariff Finder

Are you looking for advice on taxes or loans? Wondering how to make use of data analytics? Curious about how other SMEs motivate employees? Tap the wisdom of our panel of experts and the savvy of fellow entrepreneurs now - just ask.

Submit a Question

Editor's Pick

What do banks look out for when assessing loan applications?

-
Administrator
1
false

Expert’s Take

Christie Chu
Head, Emerging Business, Global Commercial Banking, OCBC Bank

Businesses that show an ability to manage their cashflow and have a good track record have better chances of getting a loan from Financial Institutions (“FIs”). Common red flags are unsatisfactory credit bureau checks and bank statement records, returned cheques due to insufficient funds and losses over multiple years.

So, in order to bag that loan, there are a few factors the business needs to take note of. Foremost, the company’s bank account is a good indicator for FIs, so make sure it reflects your company’s dealings accurately. In other words, keep your personal and business accounts separate; many young companies don’t do this - which makes it difficult to track where funds are going, or where they are coming from.

The second thing we look at is the company’s track record, and having at least 2 years’ worth of financials will work in the company’s favour. With that said, young companies that are incorporated for less than 2 years won’t have any track record to speak of but FIs generally do consider other factors. If they have financially strong customers for instance, that would work to their benefit. The strength of the management team – one that knows the industry and has previous experience operating in the industry – is another consideration.

Lastly, as a company grows, cashflow projections become an increasingly important deciding factor for FIs. For instance, what are the company’s projections for the next 6 or 12 months? Business owners may be good at getting new accounts or managing operations, but could struggle when it comes to cashflow projections as it is quite technical. Hence, getting a financial controller or financial expert’s help may be a worthwhile expense.

Towkays

Propelling a family business forward

AT a time where many enterprises are still debating about making the move into Industry 4.0, local family business Onn Wah Precision Engineering...

Grooming champions of tomorrow

GETTING an interview with David Chiem, the founder of MindChamps, was not easy. The 47-year-old has been busy travelling and securing deals to...

KPP has it all wrapped up

THE meeting room of local paper packaging firm KPP Packaging has shelves that display a variety of its own designs - many of which are useful, a...

Going Global

Shenzhen a good place for Singapore hardware startups: IE Singapore

OPPORTUNITIES abound for Singapore hardware startups in Shenzhen, a metropolis that has in the past few decades incidentally become Guangdong's...

Singapore industrial parks abroad help local SMEs in global drive

SOME 240 Singapore companies, 70 per cent of them small and medium enterprises, have invested in Singapore industrial parks set up in emerging...

Videos

Why HistoIndex went to the world first, before coming back to Singapore [VIDEO]

HistoIndex’s CEO Dr Gideon Ho shares why it was key for him to go global first. "As a young startup, we needed to seek international recognition...

Enterprise 50 Awards 2017

KPP has it all wrapped up

THE meeting room of local paper packaging firm KPP Packaging has shelves that display a variety of its own designs - many of which are useful, a...

Going big on Japanese cuisine

IT may have charted many firsts in the Japanese restaurant scene in Singapore, but restaurant group RE&S Holdings is not quite resting on its...

When the going gets tough, Expand rises to the challenge

THE year 2017 hasn't been a rosy one for the construction sector but local company Expand could just be proof that while tough times don't last,...

Resources

Towards a better customer experience

"CLOSER and further” is what Anthony Poh, managing director of Chee Fatt Co Pte Ltd, wants to achieve with his clients.

How SMEs in Singapore can navigate these common employment law pitfalls

EMPLOYMENT law issues, if handled wrongly or poorly, may cause a business and its owners to suffer a range of unpleasant consequences - from crippling law suits to investigations and sanctions...

Three ways for SMEs to navigate this new era of retail

Solid strategies are required to navigate this new era of retail, given that the challenges and volatility facing retailers are far from over.

Small Caps: Catalist

Japanese restaurant group RE&S to list on Catalist

JAPANESE restaurant group RE&S Holdings has filed a preliminary prospectus for a Catalist listing as it seeks to raise capital for new outlets - in a move that will add to Singapore Exchange's...

Epicentre signs MOU with F&B operator Coterie Dining Concepts

EPICENTRE Holdings has entered into a memorandum of understanding (MOU) with Coterie Dining Concepts as well as Coterie's shareholders to potentially collaborate, invest in and, or, acquire...

Hot stock: Tung Lok shares fall 11.8% after it warns of H1 2018 loss

SHARES of Tung Lok Group fell 11.8 per cent or three Singapore cents to 22.5 Singapore cents in the morning trade. As at 10.54am, about 154,000 shares changed hands.

Government

IE Singapore ties up with South Korea's Gyeonggi province in tech start-ups, wholesale trade, logistics

MORE partnerships in technology startups, wholesale distribution and logistics between Singapore companies and South Korean firms is the target of...

Singapore-Sichuan trade meeting: IE Singapore inks MOU with Sichuan govt

International Enterprise (IE) Singapore has inked a memorandum of understanding (MOU) with the Sichuan provincial government to help Singapore companies access more opportunities in the Sichuan Free...

Singapore embraces fintech to stay ahead

LET it be known that Singapore knows how to get things done.

Economy

Singapore's competitiveness: The good, the bad and the ugly

SINGAPORE remains one of the world's most competitive economies across the board. Period. But if you prefer to nitpick, let's do that (too).