Both exports and imports grew for the Lion City for February 2022, according to the latest data from Enterprise Singapore. Total exports increased by 22.3%, following the previous month’s 22.1% growth. Total imports grew by 19.6%, following the 28.2% expansion in January 2022. On a seasonally-adjusted basis, the level of total trade reached $109b in…
Dao Thi Boi, 40, was found guilty of importing a scheduled species without a permit She had not taken all reasonable precautions or exercised all due diligence before helping her client with his shipment in 2018, a judge found The shipment was found to contain almost 1,800 pieces of elephant ivory She will return to…
SINGAPORE: Singapore raised its trade forecasts on Wednesday (Nov 24) amid a “better-than-expected” performance and robust global semiconductor demand in the third quarter of 2021. Higher oil prices also supported the oil trade and in turn total trade, Enterprise Singapore (ESG) said in its review. Non-oil domestic exports (NODX) could now grow by between…
On the face of it, combining port operations and logistics operations makes perfect sense as it links the first mile and last mile of a container journey. With the application of the right technology, it could improve the customer experience, allow for easier monitoring of shipments, and ease the compliance burden. The challenge of operating…
SINGAPORE: A freight forwarding company director was fined S$105,000 last week for fraudulently evading the payment of Goods and Services Tax (GST), as well as for abetting a consignee to furnish false information to Singapore Customs. Tang Yong Hoe, 43, is the sole director of I-Do Logistics, Singapore Customs said in a news release…
SINGAPORE: The Goods and Services Tax (GST) will be imposed on all imported goods from 2023 after a Bill was passed in Parliament on Tuesday (Nov 2). Under the Goods and Service Tax (Amendment) Bill, GST will be extended to low-value goods worth up to S$400 that are imported via air or post from…
TNETS is often asked about the best approach for businesses to take in maintaining trade compliance. TNETS Director, Neil Johnson, was recently called upon to speak on the same subject at a trade management gathering in Singapore. He took the opportunity to share TNETS’ suggestions as to how best practice in trade compliance is best…
10 September 2021 – SINGAPORE A company director has been fined S$50,000 for evading Goods and Services Tax (GST) on shipments of LED flashlights and other accessories, Singapore Customs said on Friday (Sep 10). Kong Ming Jie, 36, incorrectly declared the value of goods in the shipments. He also failed to retain documents relating to the imports,…
15 April 2021 – CARLSBERG Brewery (M) Bhd maintains a cautious outlook for this year due to the persevering effects of Covid-19 pandemic and possible government regulations that will impact on-trade sales due to depressed consumer sentiment. Its MD Stefano Clini said in Malaysia, the second Movement Control Order (MCO 2.0) from January hit recovery…
25 March 2021 – SINGAPORE Port operator PSA may see schedule disruptions if the Suez Canal blockage caused by a stuck container vessel is prolonged, said Transport Minister Ong Ye Kung on Thursday (Mar 25). In a Facebook post, Mr Ong likened the incident to a big tree falling across the Central Expressway, affecting every other expressway linked to…
