APPENDIX TABLESSingapore WT/TPR/S/130
Page 109
Table AI.1
Outward foreign direct investmenta, by industry, 1999-02
(S$ million)
1999 2000 2001b2002
Total 92,719.9 98,291.1 131,188.9 ..
Per cent of total
Manufacturing 24.7 25.4 20.7 ..
Construction 0.9 0.8 0.6 ..
Commerce 8.2 8.3 6.7 ..
Transport, storage, and communications 6.0 6.3 7.2 ..
Financial services 48.2 48.3 56.5 ..
Real estate 7.4 7.1 5.5 ..
Business services 3.1 2.3 1.7 ..
Other 1.6 1.6 1.2 ..
.. Not available.
a Stock, as at end-year.
b Provisional.
Source: Data provided by the authorities of Singapore.WT/TPR/S/130 Trade Policy Review
Page 110
Table AI.2
Outward foreign direct investmenta, by country, 1999-02
(S$ million and per cent)
1999 2000 2001b2002
Total 92,719.9 98,291.1 131,188.9 ..
(Per cent of total)
Asia 58.1 58.5 48.1 ..
ASEAN 23.5 24.0 20.4 ..
Brunei 0.1 0.1 0.0 ..
Cambodia 0.2 0.1 0.1 ..
Indonesia 5.9 5.6 5.3 ..
Laos 0.0 0.0 0.0 ..
Malaysia 9.2 9.9 7.9 ..
Myanmar 0.9 1.0 0.7 ..
Philippines 2.5 2.6 2.3 ..
Thailand 3.6 3.6 3.3 ..
Viet Nam 1.2 1.1 0.8 ..
China 15.4 16.0 12.6 ..
Hong Kong, China 11.2 8.7 7.1 ..
India 0.8 0.9 0.8 ..
Japan 1.1 1.0 1.1 ..
Korea, Rep. of 1.8 2.4 2.1 ..
Chinese Taipei 2.2 3.6 2.6 ..
Other Asia 2.0 1.9 1.5 ..
Europe 13.9 9.1 8.5 ..
European Union 13.1 7.3 6.7 ..
France 0.1 0.1 0.1 ..
Netherlands 2.4 1.2 1.0 ..
United Kingdom 3.7 5.0 4.4 ..
Other European Union 6.9 1.0 1.3 ..
Switzerland 0.1 0.2 0.4 ..
Other Europe 0.8 1.6 1.4 ..
Australia 2.7 2.5 2.0 ..
New Zealand 0.6 0.9 0.4 ..
United States 4.5 6.3 5.0 ..
Other 20.2 22.7 36.0 ..
.. Not available.
a Stock, as at end year.
b Provisional.
Source: Data provided by the authorities of Singapore.Singapore WT/TPR/S/130
Page 111
Table AII.1
Main trade-related laws in Singapore
Laws Area
Customs Act, (Cap. 70). Customs procedures and requirements
Customs (Duties) Order, (Cap. 70 O4) Customs tariff
Customs Duties (Exemption) Order, (Cap. 70 O5). Tariff exemptions
Customs (Valuation) Regulations, (Cap. 70 Rg 8). Customs valuation
Consumer Protection (Fair Trading) Act, 2003. Protection of consumers from unfair trade
practices
Regulation of Imports and Exports Act, (Cap. 272A). Regulation of imports and exports
Regulation of Imports and Exports (Licensing) Regulations, (Cap. 272A Rg 2);
Endangered Species (Import and Export) Act, (Cap. 92A).Import licensing
Regulation of Imports and Exports Regulations, (Cap. 272A Rg 1). Import, export, and trans-shipment of
goods; certificates of origin
Countervailing and Anti-Dumping Duties Act, (Cap. 65B); Countervailing and
Anti-Dumping Duties Regulations, (Cap. 65B Rg 1).Anti-dumping and countervailing measures
Economic Expansion Incentives (Relief from Income Tax) Act, (Cap. 86); Income Tax
Act, (Cap. 134).Tax incentives
Patents Act, (Cap. 221); Copyright Act, (Cap. 63); Trade Marks Act, (Cap. 332);
Registered Designs Act (Cap. 266), Geographical Indications Act (Cap. 117B); Layout
Design of Integrated Circuits Act (Cap. 159A).Intellectual property rights
Singapore Standards, Productivity and Innovation Board Act, (Cap. 303A). Standards
Sale of Food Act, (Cap. 283); Food Regulations; The Poisons Act and its Rules,
(Cap. 234).Food standards and safety, labelling
Weights and Measures Order, (Cap. 349 02). Packaging
Control of Plants Act (Cap. 57A); Animals and Birds Act, (Cap. 7). Sanitary and phytosanitary measures
Government Procurement Act, (Cap. 120). Government procurement
Source: Government of Singapore.WT/TPR/S/130 Trade Policy Review
Page 112
Table AII.2
Status of selected notifications to the WTO, January 2000 to January 2004
WTO Agreement Description of requirement PeriodicityDocument symbol of most recent
notification and date
Anti-Dumping
(Article 18.5)Laws and regulations Once by March 1995,
then changesG/ADP/N/1/SGP/2/Suppl.1
13 May 1997
Anti-Dumping (Article
16.4)
Anti-Dumping
(Article 25.11)Anti-dumping actions taken Semi-annual G/ADP/N/105/SGP
21 August 2003
G/ADP/N/112/Add.1
13 April 2004
Anti-Dumping
(Article 16.5)Notification of domestic procedures and
authorities competent to initiate and
conduct investigationsOnce, then changes G/ADP/N/14/Add.17
7 October 2003
Agriculture (Articles 10
and 18.2)Export subsidies (outlays and quantities) Annual G/AG/N/SGP/9
23 August 2002
Agriculture
(Article 18.2)Domestic support Annual G/AG/N/SGP/8
23 August 2002
Import Licensing
Procedures (Articles
1.4(a) and 8.2(b))Laws and regulations relevant to import
licensingOnce, then changes G/LIC/N/1/SGP/3
28 February 2000
Import Licensing
Procedures (Article 5.1)Notification of licensing procedures and
changesWithin 60 days of
publication of the
changesG/LIC/N/1/SGP/3
28 February 2000
Import Licensing
Procedures (Article 7.3)Questionnaire; rules and information
concerning procedures for the
submission of applicationsAnnual for
questionnaire; for rules
and information, once
then changesG/LIC/N/3/SGP/4
12 November 2003
GATT 1994 (Article
XXVIII:5)Modification of schedule G/MA/108
29 May 2000
Subsidies and
Countervailing
Measures (Article 32.6)Laws and regulations Once by March 1995,
then changesG/SCM/N/1/SGP/2/Suppl.1,
13 May 1997
Subsidies and
Countervailing
Measures (Article
25.11)Countervailing duty actions taken Semi-annual and when
measure takenG/SCM/N/98/Add.1
20 October 2003
Subsidies and
Countervailing
Measures (Article 25.1)Subsidies programmes Annual G/SCM/N/95/SGP
6 June 2003
Subsidies and
Countervailing
Measures (Article
25.12)Notification of domestic procedures and
authorities competent to initiate and
conduct investigationsOnce, then changes G/SCM/N/18/Add.17
7 October 2003
Safeguards (Article
12.6)Laws and regulations Once by March 1995,
then changesG/SG/N/1/SGP/1,
12 May 1995
Safeguards Pre-existing Article XIX measures G/SG/N/2/SGP; G/SG/N/3/SGP
12 May 1995
Sanitary and
Phytosanitary Measures
(Article 7, Annex B)Notification of changes in sanitary and
phytosanitary measuresAd hoc G/SPS/N/SGP/25
3 October 2003
Sanitary and
Phytosanitary Measures
(Paragraph 3, Annex B)Enquiry point Once, then changes G/SPS/ENQ/16
5 December 2003
GATT 1994 (Article
XVII:4(a) –
Understanding on the
Interpretation of Article
XVII)Notification of products traded by state
enterprisesOnce, then changes G/STR/N/6/SGP
3 January 2001
Table AII.2 (cont'd)Singapore WT/TPR/S/130
Page 113
WTO Agreement Description of requirement PeriodicityDocument symbol of most recent
notification and date
Technical Barriers to
TradeStandardizing bodies that have accepted
the code of good practiceOnce, then changes G/TBT/CS/2/Rev.9
19 February 2003
Technical Barriers to
TradeEnquiry points Once, then changes G/TBT/ENQ/23
8 October 2003
Technical Barriers to
Trade (Article 15.2)Implementation and administration of the
AgreementOnce, then changes G/TBT/2/Add.25
29 October 1996
Technical Barriers to
Trade (Article 10.6)Information about technical regulations,
standards and conformity assessment
proceduresAd hoc G/TBT/N/SGP/2
7 January 2003
Technical Barriers to
Trade (10.7)Agreement reached with another country Once, then chagnes G/TBT/10.7/N/45
17 July 2003
Textiles and Clothing
(Articles 2.8 and 2:11)Notification of programmes of
integration12 months before their
coming into effectG/TMB/N/98/Corr.1
29 June 1995
Textiles and Clothing
(Article 6.1)Transitional safeguard measures Within 60 days of entry
into force of the WTOG/TMB/N/98/Corr.1
29 June 1995
TRIMs (Article 6.2) Publications in which TRIMs may be
foundOnce, then changes G/TRIMS/N/2/Rev.11
24 September 2003
TRIMs (Article 5.1) Investment measures Once by March 1995,
then changesG/TRIMS/N/1/SGP/1
22 October 1996
TRIPS (Article 63.2) Laws and regulations Once, then changes IP/N/1/SGP/C,G,L,P,T and U
14 March 2000
TRIPS (Article 69) Contact points Once, then changes IP/N/3/Rev.6, 1 March 2002
TRIPS Checklist of issues on enforcement Once the TRIPS
Agreement comes into
forceIP/N/6/SGP/1
3 March 2000
Article XXIV:7(a) of
GATT 1994Changes to regulations concerning
services arising from trade agreementsOnce, then changes WT/REG148/N/1; S/C/N/226
24 January 2003
Source : WTO Central Registry of Notifications.WT/TPR/S/130 Trade Policy Review
Page 114
Table AIII.1
Import prohibitions, 1999 and January 2004
Products, 1999 Purpose Status in 2004
Chewing gum Public safety Partially removed, permitting the
use of chewing gum for therapeutic
use, as of January 2004 under the
US-Singapore FTA.
Cigarette and table lighters in the shape of a pistol or
revolverPublic safety Unchanged
Fire-crackers Public safety Unchanged
Medicines containing amidopyrine, noramidopyrine,
amygdalin, danthron, pangamic acid and suprofenPublic health Unchanged
Volcanic rock aggregates not exceeding 40 mm. Public safety Removed
All goods originating from Iraq UN Security Council resolutions Removed in 2003 in accordance
with UN Resolution 1483 (2003)
PCB and its substitutes Environment Unchanged
Asbestos brake and clutch linings in vehicles registered
after 1 April 1995Environment Unchanged
Used motor vehicles more than three years old To minimize traffic congestion and
pollutionUnchanged
Certain ozone-depleting substances meant for local
distribution/consumption
- Halon 1211 and five extinguishers using halon 1211
- Halon 1301 and fire protection systems using halon
1301
- Halon 2402
- Carbon tetrachloride
- 1, 1, 1 – trichloroethane (methyl chloroform)
- CFCs 11, 12, 113, 114, 115 as a refrigerant in new
air-conditioning and refrigeration equipment except
for automotive air-conditioners in vehicles
registered before 1 January 1995 and domestic
refrigerators
- Other CFCs
- Hydrobromofluorcarbons (HBFCs)Protecting ozone layer (in
accordance with the Montreal
Protocol on Substances that Deplete
the Ozone Layer)Unchanged
Rhinoceros horn, worked, unworked or prepared, waste
and powderPreventing extinction (CITES) Unchanged
Ivory for commercial consignments Preventing extinction (CITES) Unchanged
Tiger products Preventing extinction (CITES) Unchanged
Cosmetics containing prohibited substances/additives
above the stipulated limitsPublic health Unchanged
Controlled telecommunications equipment such as
scanning receivers, military communication equipment
and automatic call divertersNational security Unchanged
Asbestos in the form of crocidolite, amosite and
amphiboles and products containing these forms of
asbestosEnvironment Unchanged
Asbestos in the form of chrysotile except for
manufacturing of gasketsEnvironment Unchanged
Chlorofluorocarbons in aerosol products except medical
aerosolsEnvironment Unchanged
Plants of rubber, cocoa, coconut and oil palm from
Central and South America and West and Central AfricaTo ensure plant health Unchanged
Source: Government of Singapore.Singapore WT/TPR/S/130
Page 115
Table AIII.2
Products covered by automatic and non-automatic import licensing
ProductLaws and regulations authorizing import
licensingControlling agency
Automatic import licensing
Fresh fruits, vegetables, plants and plant
productsControl of Plants Act Agri-Food and Veterinary Authority
(AVA), Ministry of National
Development (MND)Live animals, live birds, products of live
animals/birds and veterinary
biologics/vaccinesAnimals and Birds Act
Ornamental fish Animals and Birds Act; Animals and Birds
(ornamental fish) Rules 2002
Meat, fish and meat/fish products Wholesome Meat and Fish Act
Animal feed, milk powder – skimmed
(coloured for animal feed)Animal and Birds Act and Feeding Stuffs
Act
Veterinary medicaments Medicines Act
Films, video tapes and video discs Films Act and its Regulations Board of Film Censors
Media Development Authority, Ministry
of Information, Communication and the
Arts (MITA)Publication, gramophone records,
paintings and printsUndesirable Publications Act
Matchetes and axes Corrosive and Explosives Substances and
Offensives Weapons ActLicensing Division, Arms and Explosives
Branch, Singapore Policy Force, Ministry
of Home Affairs (MHA)Handcuffs Regulation of Imports and Exports
RegulationsChristmas crackers
Articles of clothing intended as protection
against attack, including bullet-proof
vests
Steel helmets
Toy guns, including pistols and revolvers
Amusement machines, coin- or disc-
operated, including pintables, shooting
galleries, and cinematography machinesRegulation of Imports and Exports
RegulationsPublic Entertainment Licensing Unit,
Minister of Home Affairs
Mastering equipment and replication
equipment for any of the following:
- CD (compact disc);
- CD-ROM (compact disc-read only
memory)
- VCD (video compact disc);
- DVD (digital video disc); and
- DVD-ROM (digital video disc-read
only memory)Regulation of Imports and Exports
RegulationsSingapore Customs
Human pathogens: of risk Group II and
III (except human immunodeficiency
Virus (HIV), zoonotic agents and
genetically modified organisms (GMO)Disease Control Branch, Ministry of
Health
Non-automatic import licensing
Artificial sweetening agents, food
containing artificial sweetening agent(s),
and irradiated foodFood Regulations AVA, Ministry of National Development
(MND)
Specific plants, plant products and other
materials (insects, micro-organisms and
soil)Control of Plants (Plant Importation) Rules AVA, Ministry of National Development
(MND)
Endangered species of wild fauna and
flora (CITES products)Endangered Species (Import and Export)
Act
Table AIII.2 (cont'd)WT/TPR/S/130 Trade Policy Review
Page 116
ProductLaws and regulations authorizing import
licensingControlling agency
Fruit or jackpot machines Private Lotteries Act Commissioner of Estate Duties, Inland
Revenue Authority of Singapore, Ministry
of Finance
Hazardous substances Environmental Pollution Control Act and
Environmental Pollution Control
(Hazardous Substances) RegulationsPollution Control Department, National
Environment Agency (NEA)
Radioactive materials and irradiating
apparatusRadiation Protection Act and its Regulations Centre for Radiation Protection, Health
Sciences Authority (HSA)
Medicines Medicines Act and related regulations and
orders for medicines, Chinese proprietary
medicines and Category 1 cosmetic
productsCentre for Pharmaceutical Administration,
HSA
Chinese proprietary medicines
Category 1 cosmetic products
Poisons/drugs Poisons Act and the Misuse of Drugs Act
Controlled telecommunication equipment Telecommunications (Dealer's) Regulations Infocomm Development Authority (IDA)
Scheduled chemicals under the Chemical
Weapons Convention (CWC)Chemical Weapons (Prohibition) Act National Authority (CWC)
Rice Price Control (Rice) Order International Enterprise Singapore (IE
Singapore)
Poppy seeds (kaskas) Regulation of Imports and Exports
RegulationsCentral Narcotics Bureau
Controlled equipment, materials or
substances used for the manufacturing of
controlled drugsMisuse of Drugs Regulations Centre for Pharmaceutical Administration,
HSA
Arms and explosives Arms and Explosives Act Arms and Explosives Branch, Singapore
Police Force, Ministry of Home Affairs
Merchandise/products containing a
photograph, drawing or design
resembling or used in/on Singapore
currency notes and coinsCurrency Act Monetary Authority of Singapore (MAS),
Ministry of Finance
Ozone-depleting substances (may be
imported only if they are to be re-
exported)Environment Pollution Control Act and
Environment Pollution Control (Ozone
Depleting Substances) Regulations 2000Pollution Control Department, NEA
- Halon 1211 and fire extinguishers
using halon 1211
- Halon 1301 and fire protection systems
using Halon 1301
- Halon 2402
- Carbon tetrachloride
- 1,1,1-trichloroethane (Methyl
chloroform)
- Chlorofluorocarbons (CFCs) 11, 12,
113, 114, 115 as a refrigerant in new
air-conditioning and refrigeration
equipment except for automotive air-
conditioners in vehicles registered
before 1 January 1995 and domestic
refrigerators
- Other CFCs (e.g. CFCs 13, 111, 112,
211, 212, 213, 214, 215, 216, 217)
HBFCs and HCFC
Methyl bromide
Table AIII.2 (cont'd)Singapore WT/TPR/S/130
Page 117
ProductLaws and regulations authorizing import
licensingControlling agency
Eggs and biologics
Human pathogens:
- whose risk group is neither II nor III or
not found in the list of human
pathogens
- human immunodeficiency virus (HIV)
- zoonotic agents under AVA's import
control
- genetically modified organisms (GMO)
under Genetic Manipulation Advisory
BoardPollution Control Department, NEA
AVA
Disease Control Branch
Source: Singapore authorities.WT/TPR/S/130 Trade Policy Review
Page 118
Table AIII.3
Exports subject to controls, February 2004
Products Competent authority
Animals Agri-Food and Veterinary Authority (AVA)
Arms and explosives, articles of clothing intended as protection
against attack, including bullet-proof vestsArms and Explosives Licensing Division (A&E)
Chemicals
(a) Toxic and precursers
(b) PesticidesNational Authority (Chemicals Weapons Convention) (NA CWC)
Pollution control department (PCD)
Chlorofluorocarbons (CFCs) Pollution control department (PCD)
Fish and fish products (including fin fish, crustaceans and
molluscs)Agri-Food and Veterinary Authority (AVA)
Ginseng roots Agri-Food and Veterinary Authority (AVA)
Handcuffs A&E
Halons Pollution control department (PCD)
Steel helmets A&E
Irradiating apparatus Centre for Radiation Protection (CRP)
Meat and meat products Agri-Food and Veterinary Authority (AVA)
Precurser chemicals Central Narcotics Bureau (CNB)
Radioactive materials Centre for Radiation Protection (CRP)
Rice (excluding rice bran) IE Singapore
Rubber IE Singapore
Singapore made textiles, garments and textile exports for export
to Canada, the EU or the United StatesSingapore Customs
Timber and wood (CITES) Agri-Food and Veterinary Authority (AVA)
Toy guns, pistols and revolvers A&E
Waste lead-acid batteries and waste batteries made with lead,
cadmium or mercuryPollution control department (PCD)
Source: Singapore Customs online information. Available at: http://www.tradenet.gov.sg/trdnet/admin/PrinterFriendly
Page.jsp?titleName=32_List_of_, [1 October 2003] and information provided by the authorities.Singapore WT/TPR/S/130
Page 119
Table AIII.4
Non-tax assistance for industrial development (administered by EDB and SPRING)
Scheme Eligibility Assistance
Economic Development
Board (EDB)
Innovation Development
SchemeSingapore-registered businesses
and organizationsGrants support for qualifying costs incurred in the innovation of
products, processes and applications and developing depth in
innovation capabilities
Initiatives in New
TechnologiesSingapore-registered businesses
and organizationsGrants support for qualifying costs incurred in manpower
development in the application of new technologies, industrial
R&D and professional know-how
Research Incentive Scheme
for CompaniesSingapore-registered businesses
and organizationsGrants support for qualifying costs incurred in the development of
R&D capabilities in the areas of strategic technologies
Local Industry Upgrading
ProgramSingapore-registered businesses
and organizationsAssistance in defraying manpower costs incurred in providing
expertise to local suppliers looking to upgrade their capabilities and
service standards to meet international sourcing requirements and
standards
Locally based Enterprise
Advancement ProgramSingapore-registered businesses
and organizationsAssistance in defraying manpower costs incurred in providing
expertise to local suppliers looking to expand their market channels
Patent Application Fund Plus Singapore-registered businesses
and organizationsGrants support for patent application cost in order to promote
pervasive innovation and encourage greater commercialization
activities
Regionalisation Training
SchemeSingapore-registered businesses
and organizationsFixed grant support to assist Singapore companies in the training of
foreign workers for their overseas operations
Technology for Enterprise
Capability UpgradingLocal enterprises with fixed
productive assets of not more
than S$15 million; if in the
services sector, with less than
200 employeesAssistance in defraying manpower costs incurred by local
enterprises in the engagement of research scientists and engineers
from public sector research institutes for R&D or innovation
projects
Resource Productivity
SchemeSingapore-registered businesses
and organizationsFixed rate loans to partially finance equipment cost incurred in
systems that enhance the utilization of scare resources such as
labour, water and land
Capital Assistance Scheme Qualifying machinery and
equipment used by small and
medium-sized firms in
mechanization and automation
with a quality above the
industry norm.Preferential interest rate on qualifying loan amount
Regionalization Finance
SchemeLocal enterprises with fixed
productive assets of not more
than S$30 million; if in the
services sector, with less than
200 employeesFixed interest financing to assist local enterprises to set up
operations overseas
Standards, Productivity
and Innovation Board
(SPRING)
Local Enterprise Finance
Scheme (LEFS)To be eligible, a company must
satisfy the following conditions:
- At least 30% local equity
- Fixed assets (defined as net
book value of factory building,
machinery and equipment) not
exceeding S$15 milliona
- Employment size not
exceeding 200 workers for non-
manufacturing companiesaA fixed interest rate financing programme designed to encourage
and assist local enterprises to upgrade, strengthen and expand their
operations
Loan facilities
- Factory term loan
- Machinery term loan
- Machinery hire purchase loan
- Working capital loan
- Factoring loans
Interest rates: fixed for duration of the loan and computed on
monthly-rest, in-arrears basis
Table AIII.4 (cont'd)WT/TPR/S/130 Trade Policy Review
Page 120
Scheme Eligibility Assistance
Companies with at least 30%
local shareholdings, fixed asset
investment (at net book value)
of between S$15 million and
S$50 million and employment
size of between 200 and
300 workers (for service
companies) will be eligible to
access LEFS short-term loans
such as factoring and working
capital facilities (valid up to
June 2004)Use of LEFS loans
- Establish a viable business
- Modernize and automate plant and equipment
- Expand existing manufacturing capacity
- Diversify into other product lines
- Augment working capital needs
Micro Loan Programme
(available under LEFS)To be eligible, a company must
satisfy the following conditions:
- At least 30% local
shareholdings
- Employment size of not
more than ten workers
- In addition, the company's
group fixed assets (at net book
value) must not exceed S$15
million and if it is in the service
industry, group employment
size not exceeding 200 workers.A fixed interest rate financing programme designed to help the very
small local enterprises gain better access to financing
Use of micro loans
- Establish a viable business
- Modernize and automate plant and equipment
- Expand existing manufacturing capacity
- Diversify into other product lines
- Renovate existing or new business premises
- Augment working capital needs like start-up costs or operational
costs
Loan Insurance Scheme (LIS) To be eligible, a company must
meet the following criteria:
- At least 30% local
shareholdings.
- Fixed assets (at net book
value) must not exceed
S$15 milliona
-If it is in the service industry,
employment size not exceeding
200 workersaThe interest rates are set by participating financial institutions for
their SME clients. A portion of the loans will be insured against
default risks by a private credit risk insurer. The government co-
shares the insurance premiums with the SMEs
Local enterprises can make use of loans to:
- Establish new businesses
- Modernize and automate operations
- Expand existing businesses
- Diversify into other businesses
- Augment working capital needs
Local Enterprise Technical
Assistance Scheme (LETAS)
A scheme to help local
enterprises defray cost
incurred in modernizing and
upgrading their operations
through the engagement of an
external expert for a limited
period of timeLocal enterprises must meet the
following criteria:
- At least 30% local equity
- Fixed assets (defined as net
book value of factory building,
machinery and equipment) not
exceeding S$15 milliona
- Employment size not
exceeding 200 workers for non-
manufacturing companies.Generally assistance provided is up to 50% of cost of engaging
external expert for an approved short-term assignment depending
on the scope, depth and effectiveness of the assignment
Areas of assistance that may be supported:
- Identification and solving of technical problems
- Technical improvements to present operations or process
- Mechanization, automation or computerization of operations or
processes
- Quality management systems
- Business development
- Financial development
- Market development
- Computerization and management information
- Human resource management
- Product development
Bridging Loan Programme
(this programme was
discontinued on 1 January
2004)To be eligible
- at least 30% of shareholdings
must be local
- Fixed assets (at net book
value) must not exceed
S$15 milliona
- If it is in the service industry,
employment size must not
exceed 200 workersaA fixed interest rate financing programme designed to help small
and medium enterprises gain access to short-term financing.
Use of bridging loans
- Augment working capital needs like operational or business
restructuring costs
Table AIII.4 (cont'd)Singapore WT/TPR/S/130
Page 121
Scheme Eligibility Assistance
Domestic Sector Productivity
FundAll Singapore-registered
business enterprises and
organizations including industry
associations and bodies
participating in the
transformation project are
eligible to apply. Business
enterprises are defined as
proprietorships, partnerships or
companies
The proposed project must meet
the following criteria:
a. Project should represent a
major or critical part of an
overall industry
transformation plan.
b. Project should involve the
introduction of new or vastly
improved practices,
activities, facilities and/or
systems in one of the
following aspects :
- Business scope (i.e.
change/extension into new,
higher value add activities)
- Business processes
- Information architecture
- Organization architecture
- Resources management (i.e.
people, land, materials, energy,
etc.)
c. Project should lead to
specific deliverables/
outcomes that will upgrade
the industry to be among the
best-in-class
internationally according to
specified practices and
performance parameters such
as reduced cycle time,
reduced costs, increased
revenue, higher value added
per worker, etc.
d. Project should involve at
least 3 companies working
together to achieve
economies of scale and
greater impact
e. Project should have the
expressed support and
commitment of the applicant
companies. Where relevant,
the expressed support of an
industry association or any
formal company grouping
representative of the industry
or relevant government
agency would be usefulEncourages companies within an industry or value-chain to
collaborate on projects to implement fundamental or radical
changes in strategy, operations or practices, leading to significant
gains in productivity and competitiveness for the industry as a
whole
Table AIII.4 (cont'd)WT/TPR/S/130 Trade Policy Review
Page 122
Scheme Eligibility Assistance
f. Results achieved must be
shared with other companies
in the industry during the
mass adoption phase
Project must not have
commenced at the time of
application.
a Computed on a group basis i.e. checking up to three levels for corporate shareholders holding 20% or more of the total
shareholding of the company and one level down where the company holds 50% or more of the total shareholding in a subsidiary
company.
Source: Singapore authorities.Singapore WT/TPR/S/130
Page 123
Table AIV.1
Electricity licence holders, 1 January 2004
Company Major shareholdersShare of market
(as at third quarter 2003)
Transmission & distribution
SP PowerAssets Ltd Singapore Power Ltd (formed under
Temasek when PUB was corporatized):
100%n.a. (only PowerGrid is allowed to provide
an open access power transmission and
distribution network)
Market operator
Energy Market Company Pte Ltd Energy Market Authority: 51%
M-co Pte Ltd (M-co Singapore): 49%n.a.
Market support services provider
SP Services Ltd Singapore Power Ltd (formed under
Temasek when PUB was corporatized):
100%n.a.
Generation
SenokoPower Ltd (formerly owned by
Singapore Power Ltd)Temasek: 100% 30%
PowerSeraya Ltd (formerly owned by
Singapore Power Ltd)Temasek: 100% 29%
Tuas Power Ltd Temasek: 100% 23%
SembCorp Cogen Pte Ltd SembCorp Utilities (utilities arm of
SembCorp Industriesa): 70%
Tractebel S.A.: 30%15%
Island Power Company Pte Ltd Intergen N.V. (part of Shell and Bechtel):
50%
Sime Darby Berhad: 50%Not in operation yet
Keppel Merlimau Cogen Pte Ltd Keppel Energy (wholly owned subsidiary of
Keppel Corpb): 100%Not in operation yet
National Environment Agency Statutory Board of the Ministry of the
Environment3%
Retail
Keppel Electric Pte Ltd Keppel Energy (wholly owned subsidiary of
Keppel Corp): 100%4.3%
SembCorp Power Pte Ltd SembCorp Utilities (utilities arm of
SembCorp Industries): 100%10.9%
Tuas Power Supply Pte Ltd Tuas Power Ltd. (under Temasek): 100% 7.9%
Senoko Energy Supply Pte Ltd Senoko Power Ltd (transferred to Temasek):
100%13.8%
SP Services Ltd (not a retailer; sells
electricity to non-contestable consumers;
contestable consumers have the option of
buying electricity indirectly from the
wholesale market through SP Services)Singapore Power (formed under Temasek
when PUB was corporatized): 100%54.5% (the electricity retail market is
currently being opened to competition in
phases)
Seraya Energy Pte Ltd PowerSeraya Ltd (transferred to Temasek):
100%8.6%
Marubeni International Petroleum (S) Pte
LtdMarubeni Corporation (Japan) 0% (not active)
n.a. Not applicable.
a SembCorp Industries' major shareholders are: Singapore Technologies Pte Ltd (owned by Temasek Holdings): 39.06%;
Temasek Holdings (Private) Ltd: 11.84%; Raffles Nominees Pte Ltd: 8%; DBS Nominees Pte Ltd: 6.91%; United Overseas
Bank Nominees Pte Ltd: 5.09%; Citibank Nominees Singapore Pte Ltd: 5.02%; HSBC (Singapore) Nominees Pte Ltd: 3.18%;
DB Nominees (S) Pte Ltd: 2.19%; and Overseas Chinese Bank Nominees Pte Ltd: 1.6%.
b Keppel Corp's major shareholders are: Temasek Holdings (Private) Ltd: 31.95%; Raffles Nominees Pte Ltd: 16.88%; DBS
Nominees Pte Ltd: 12.65%; Citibank Nominees Singapore Pte Ltd: 6.65%; United Overseas Bank Nominees Pte Ltd: 5.61%;
HSBC (Singapore) Nominees Pte Ltd: 5.55%; DB Nominees (S) Pte Ltd: 3.46%; and Overseas Chinese Bank Nominees Pte
Ltd: 1.62%.
Source: Energy Market Authority, information provided by the authorities; and Internet websites of licence holders.WT/TPR/S/130 Trade Policy Review
Page 124
Table AIV.2
Incentives offered by the Monetary Authority of Singapore
Scheme Eligibility Incentive
Operational
headquarters
(OHQ) incentivesBanks, merchant banks, securities
companies, insurance companies,
fund managersConcessionary corporate tax rate of 10% for five to ten years (renewable)
for income from providing qualifying OHQ services to approved network
and from conducting qualifying finance and treasury on its own account.
Tax exemption for dividend income from approved network companies
and on dividends distributed from the OHQ for five to ten years
(renewable)
Double deduction
for R&D
expenditureBanks, merchant banks, securities
companies, insurance companiesDouble deduction for qualifying R&D expenses against income
Tax incentive for
Asian Current Unit
(ACU) incomeBanks and merchant banks Concessionary tax rate of 10% on income derived from offshore ACU
activities with non-residents and other qualifying financial institutions in
Singapore
Tax exemption
scheme for
syndicated facilitiesBanks, merchant banks and
securities companiesTax exemption for income derived from arranging, underwriting and
participating in syndicated credit, guarantee and debt facilities which are
arranged in Singapore and for which proceeds are used outside Singapore
Tax incentive
scheme for asset
management
(AFM)Fund managers Approved fund managers (AFMs) are accorded a concessionary tax rate of
10% on fees and commissions derived from any funds managed,
investment advisory services provided, or loans of securities arranged by
the AFMs in Singapore
Income from foreign investors for any designated investments from funds
managed by or as a result of investment advisory services provided by any
fund manager in Singapore will be exempt from tax
Tax incentive
scheme for
approved trustee
companies (ATC)Trustee companies Concessionary tax rate of 10% granted to companies and financial
institutions on selected income streams from trust administration and
custodian services offered in Singapore
Investment income generated by foreign trusts exempt from tax
Tax incentive
scheme for bond
market activitiesBanks, merchant banks, securities
companies, insurance companiesTax exemption for fee income from arranging, underwriting and
distributing qualifying debt securities
Interest income from qualifying debt securities paid to financial institutions
and corporations in Singapore taxed at 10%; interest from qualifying debt
securities payable to non-residents exempt from withholding tax; income
from trading in any debt securities taxed at 10%; income from trading in
Singapore Government securities by primary dealers exempt from tax
Approved bond
intermediary (ABI)
schemeBanks, merchant banks, securities
companies, insurance companiesOnce a financial institution has been accorded ABI status, all debt
securities lead managed by it would be treated as qualifying debt
securities. The following tax incentives apply:
(i) The ABI will be exempt from tax on fee income earned from arranging,
underwriting and distributing the securities;
(ii) The debt securities arranged by ABIs will be considered qualifying
debt securities and automatically be eligible for the applicable tax
incentives
Tax incentive
scheme for equity
capital market
intermediary
(ECMI)Banks, merchant banks and
securities companiesA concessionary tax rate of 10% will be granted to ECMIs on income
derived from activities denominated in foreign currency relating to foreign
securities or companies and from the provision of corporate advisory
services relating to financial matters to persons outside Singapore.
A concessionary tax rate of 5% will also be accorded to income derived by
ECMIs from services rendered for non-residents or foreign companies in
relation to transactions on the Singapore Exchange
Tax incentive
scheme for
approved
derivatives trader
(ADT)Banks, merchant banks ,securities
companiesA concessionary tax rate of 5% will be granted for income derived from
qualifying derivatives services and transactions undertaken by a
financial institution granted the Approved Derivatives Trader (ADT)
status. Payments on qualifying derivatives made by ADTs to non-
residents will also be exempt from tax
Table AIV.2 (cont'd)Singapore WT/TPR/S/130
Page 125
Scheme Eligibility Incentive
Tax incentive
scheme for
approved new
derivative products
traded on
the Singapore
Exchange (SGX)SGX corporate members Concessionary tax rate of 5% will be accorded to the total income from
transactions in each approved new product derived by qualifying SGX
corporate members (to qualify for this concessionary tax rate, the SGX
corporate member must be ranked amongst the top 20 trading members for
that product)
Tax incentives for
finance and
treasury centres
(FTC)Corporates Concessional rate of 10% on fee income received from the provision of
financial and treasury services to approved network companies and income
from conducting trading and other treasury activities on FTCs own
account. Interest paid on foreign currency denominated loans from
network companies and banks outside Singapore may also be exempt from
withholding tax
Tax incentive for
offshore insurance
businessInsurance companies Concessional tax rate of 10% on income from writing offshore insurance
business
Tax incentive for
approved marine
hull and liability
insurer schemeInsurance companies Tax exemption for income derived by approved marine hull and liability
insurers from writing marine hull and liability insurance business
Scheme for tax-
deductible special
reservesInsurance companies General insurers can now claim tax deduction for special reserves set aside
for certain offshore risks
Financial sector
incentive scheme
(FSI)
From 1 January
2004, this incentive
would replace the
following seven tax
incentives:
- ABI
- ACU
- ADT
- AFM
- ECMI
- OHQ
- Syndicated
facilitiesCompanies carrying out the
prescribed qualifying activities in
Singapore would be eligible to
apply for the FSIIncome derived from FSI standard-tier qualifying activities taxed at 10%,
subject to a qualifying base taxed at the prevailing corporate tax rate
Income derived from enhanced tier qualifying activities taxed at 5%
Source: Monetary Authority of Singapore.WT/TPR/S/130 Trade Policy Review
Page 126
Table AIV.3
Singapore's tourism industry, 1998-03
1998 1999 2000 2001 2002 2003
Tourism receipts (S$ million) 8,531.2 9,567.8 10,080.8 9,121.9 8831.2 ..
(% of services receipts) 23.0 21.4 20.1 17.6 16.6 ..
Number of gazetted hotels (end-year) 101 99 104 103 101 ..
Number of rooms available (gazetted hotels) 30,123 29,683 30,469 30,472 30,468 ..
Average hotel occupancy rate (per cent) 71.3 74.9 83.5 76.3 74.4 67.2
Visitor arrivals ('000) 6,242.2 6,958.2 7,691.4 7,522.2 7,567.1 6,125.5
of which (%):
ASEAN 30.2 32.0 31.6 33.5 33.5 37.7
Japan 13.5 12.4 12.1 10.0 9.6 7.1
China 4.7 5.4 5.6 6.6 8.9 9.3
India 3.9 4.1 4.5 4.5 5.0 5.1
Korea, Rep. of 1.6 3.5 4.6 4.8 4.9 4.3
Australia 6.8 6.7 6.6 7.3 7.1 6.4
United States 5.5 5.1 5.0 4.6 4.3 4.1
United Kingdom 5.7 5.8 5.8 6.1 6.1 6.3
.. Not available.
a Estimates.
Source: Ministry of Trade and Industry (2002) to (2004), Economic Survey of Singapore; and Singapore Tourism Board.
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