Record number of SMEs to collapse in 2025

[Chase]

Singapore Corporate Insolvencies Reach Highest Level Since 2010
https://www.bloomberg.com/news/arti...e-insolvencies-reach-highest-level-since-2010
Companies in Singapore were forced to wind-up in record numbers last year, as compulsory liquidations in the city-state soared.

Singapore expects growth to decrease by as much as 3.4% this year.
Photographer: Ore Huiying/Bloomberg

 

[Chase]

On the ground, the situation is quite bad after CNY. It appears that more SMEs are defaulting their vendors:

- A major commercial vehicle leasing company Goldbell is busy towing vehicles because more customers are not paying their dues
- Some SMEs owe multiple months of business internet subscription.
- Construction companies are the worst. It says a lot when they are offloading their vehicles, owes dorm money, and illegally lending their workers to peers.

 

[nabeifuckpap]

SMEs are the biggest source of employment for Malaysians in Shitgapore

 

[Chase]

3000 F&B outlets closed down in 2024
https://cnalifestyle.channelnewsasia.com/dining/fb-outlets-highest-closure-20-years-459411

 

[zhihau]

Anyone going to Geylang Serai Ramadan Bazaar later?

Altogether now!!! HUAT AH!!!

 

[Chase]

SMEs are the biggest source of employment for Malaysians in Shitgapore

They have up-skilled themselves.

Many SMEs hire unlimited Malaysians in F&B and other industries (eg 3M distributor) under EP (Monthly pay above $5600, without levy, without quota), and these employees return $2000-3000 to their boss under-table and the original $5600 pay is tax-deductible expense for the company.

win-win

 

[Chase]

Anyone going to Geylang Serai Ramadan Bazaar later?

Altogether now!!! HUAT AH!!!

glad to see you post, big bro.

how have u been

 

[zhihau]

glad to see you post, big bro.

how have u been

Been looking at the silver and gold market lately, you bought any?

Altogether now!!! HUAT AH!!!

 

[Chase]

Been looking at the silver and gold market lately, you bought any?

Altogether now!!! HUAT AH!!!

I am not good with investments.

twenty years ago, i got silver. buy buy buy, abd sold at US$40, made some small money.

then silver dropped swiftly to US$32-35 level, i buy buy again, and got stucked for a decade.

Now like ED, it keeps getting stuck at US$30-35 range, so i didn't average down more or offload my losing positions.

 

[Pinkieslut]

JLBs good riddance!

 

[congo9]

I suspect all these collapse is to.launder money out of the system.

 

[k1976]

SMEs are the biggest source of employment for Malaysians in Shitgapore

A lot pack bag go back to SEZ to hide from Creditors

 

[k1976]

I am not good with investments.

twenty years ago, i got silver. buy buy buy, abd sold at US$40, made some small money.

then silver dropped swiftly to US$32-35 level, i buy buy again, and got stucked for a decade.

Now like ED, it keeps getting stuck at US$30-35 range, so i didn't average down more or offload my losing positions.

I sold my stake at $48

 

[k1976]

I am not good with investments.

twenty years ago, i got silver. buy buy buy, abd sold at US$40, made some small money.

then silver dropped swiftly to US$32-35 level, i buy buy again, and got stucked for a decade.

Now like ED, it keeps getting stuck at US$30-35 range, so i didn't average down more or offload my losing positions.

Mee tooo

 

[k1976]

Been looking at the silver and gold market lately, you bought any?

Altogether now!!! HUAT AH!!!

No more long queue at UOB
Got only some ATAs ah neh

 

[syed putra]

I am not surprised. The effect of devastating world wide lock down.

 

[laksaboy]

Please give more CDC vouchers, that will solve all problems.

 

[batman1]

The ground is sweet. GE 2025 coming.

 

[oliverlee]

these days there are lots of holding companies that have all kinds of businesses parked under their charge. The modus operandi is to create respectable looking fronts like tuition agencies, enrichment centres and training centres to rake in the dollar, and then siphon the money off elsewhere. These entities can be perpetually in the red, yet they seem to be able to ride out financial storms. they will cease operation when the front has become too obvious, or it's no longer profitable to use it for nefarious means. Lots of tuition centres are run like this.

 

[True Believer]

On the ground, the situation is quite bad after CNY. It appears that more SMEs are defaulting their vendors: - A major commercial vehicle leasing company Goldbell is busy towing vehicles because more customers are not paying their dues - Some SMEs owe multiple months of business internet subscription. - Construction companies are the worst. It says a lot when they are offloading their vehicles, owes dorm money, and illegally lending their workers to peers.

The fundamental survival skill for SMEs is to quickly step up to fill the shoes of MNCs who are offshoring their businesses out of S'pore. Our Govt doesn't seem to be facing up to the reality that high costs make S'pore a less inviting option for many firms from overseas. The exodus of huge foreign companies is an ongoing process. Recognising that SMEs have to take a giant step up to fill the void, tax incentives and grants will help businesses strengthen their capabilities, navigate through the uncertainties of restructuring, develop their workers and even finance expansion overseas. However, our govt has instead caused inflation to spiral upwards, and the cost of doing business here to kill off many of our SMEs.