Thursday, August 6, 2020
With the dawn of Industrial Revolution 4.0, SMEs and startups began to see the massive benefits of digitalisation and haven since made moves to shift their business towards digital transformation. The onset of the COVID-19 pandemic served to only accelerate the process as consumers and client expectations changed. However,...
SMEs in five Southeast Asian (SEA) markets, that being Malaysia, Singapore, Indonesia, Thailand, and Vietnam, are counting on the benefits of technology to help weather the storm of the COVID-19 pandemic, according to a recent survey conducted by United Overseas Bank (UOB), Accenture, and Dun & Bradstreet. The research was...
Asia Pacific consumers shift rapidly to digital commerce and show no signs of turning back The way we shop is changing and how we pay is evolving. As COVID-19 alters our daily lives, consumers in Asia Pacific are rapidly going digital with purchases of everything from groceries to...
Business sentiment of Asian companies sank to an 11-year low in the second quarter, a Thomson Reuters/Insead survey found, with some two-thirds of the firms polled flagging a worsening Covid-19 pandemic as the biggest risk over the next six months.While the pandemic’s initial impact was reflected in...
As global recession looms, Asian businesses are tightening their credit management processes in a bid to minimise bad debt risks. With COVID-19's impact on supply chains and trade, the use of trade credit has soared. Payment delays have led to suppliers using such credit tools to guarantee their cash flow. According...
Manufacturing activity in China rebounded in May, driven by a jump in output as companies resumed production after the country's COVID-19 lockdown. The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives a snapshot of the country’s manufacturing sector, rose to 50.7 from 49.4 in April. A number above...
The SMEs of the world have been hit hard by the COVID-19 pandemic and the subsequent control measures government have put in place. As the brave essential and frontline workers toil away every day to ensure the comfort and safety of the general populace, SMEs in fast-growing economies remain...
The COVID-19 pandemic has brought a lot of bad with it. The crisis has gotten so severe that we cannot blame others for thinking that the outbreak only brings bad things. However, there is a reason to be somewhat optimistic. Throughout the course of history, we can see that horrible...
The government has subsidised about 30 per cent of salary payments for small and medium entrepreneurs (SMEs) during the Movement Control Order (MCO) to avoid retrenchment and reduce the number of people retrenched.Neil Foo, the Malaysian representative of the Asia-Pacific Economic Cooperation Small and Medium Enterprise Forum...
The COVID-19 coronavirus has become a global issue that threatens to cripple the world’s economy and destroy businesses. As such, business continuity is one of the foremost discussed agendas of all organisations, regardless of their size and nature. COVID-19 has already brought much business to a complete stand-still. In this...
Asia’s airports at rock bottom as number of passengers plummets 95 per cent Asia’s airports have reached “rock bottom” almost four months into the Covid-19 pandemic, with the number of passengers at about 5 per cent of last year’s figures, the global airports’ representative has said. Airports Council International (ACI)...
COVID-19 pandemic to bring Asia's 2020 growth to halt for first time in 60 years: IMFThe International Monetary Fund (IMF) said Asia's economic growth this year will grind to a halt for the first time in 60 years, as the COVID-19 crisis takes a toll on the...