An Interesting Take on Singapore Growth

[Strong Eagle]

https://www.theonlinecitizen.com/2017/1 ... r-profits/

[CuriousKaptain]

[PNGMK]

There's no doubt we will see the immigration tap turned on again soon (if not already).

[PNGMK]

There's no doubt we will see the immigration tap turned on again soon (if not already).

[Barnsley]

There's no doubt we will see the immigration tap turned on again soon (if not already).

Its gonna cost big dollars though to pay companies to come here to generate the number of jobs the Govt will need.

How many "research" companies have already moved on after their tax free status and Govt subsidy stops?

[PNGMK]

There's no doubt we will see the immigration tap turned on again soon (if not already).

Its gonna cost big dollars though to pay companies to come here to generate the number of jobs the Govt will need.

How many "research" companies have already moved on after their tax free status and Govt subsidy stops?

I'm not sure what the current favoured industry is now ... what is it? Fintech?

[Barnsley]

There's no doubt we will see the immigration tap turned on again soon (if not already).

Its gonna cost big dollars though to pay companies to come here to generate the number of jobs the Govt will need.

How many "research" companies have already moved on after their tax free status and Govt subsidy stops?

I'm not sure what the current favoured industry is now ... what is it? Fintech?

The Communications Minister said today 42,000 jobs in ICT were going to be created in the next 3 years .... Now call me a cynic but there is only one way those jobs are getting filled and its not by the Taxi Uncles using there Skills Credit to "Upskill" themselves.

Minister for Communications and Information Yaacob Ibrahim, who announced the guide on Friday, said that over the next three years, Singapore will need to fill 42,000 technology jobs in addition to the current 180,000 technology jobs to be filled. These include positions for data scientists and cyber-risk analysts.

[The Ref]

The ICT industry has been shrinking due to the MOM forcing out a particular demographic that seems to fill most ICT jobs here. Body shop employee do not get passes anymore and Banks are struggling to get some EPs approved.

There are something like 400 FinTech Companies in Singapore and the MAS has created a FinTech sandbox of which 2 companies have so far been granted access.

Not sure where either the 42000 jobs nor people to fill them are going to come from under current circumstances.

[Strong Eagle]

The ICT industry has been shrinking due to the MOM forcing out a particular demographic that seems to fill most ICT jobs here. Body shop employee do not get passes anymore and Banks are struggling to get some EPs approved.

There are something like 400 FinTech Companies in Singapore and the MAS has created a FinTech sandbox of which 2 companies have so far been granted access.

Not sure where either the 42000 jobs nor people to fill them are going to come from under current circumstances.

It has also been shrinking due to costs. Call centers have moved to Manila and KL. The nature of onsite tech support services has changed... you no longer get a technician to come out and repair your printer, a delivery boy drops a new one off and the call center sets it up.

The architecture and design jobs have moved to PMO's in Europe, Australia, and the USA. The build and test now takes place in any of a dozen cheap labor countries. Vendors supply the project management (not always successfully).

ICT technical headcounts are minimized through consolidated data centers and the ability to remotely manage complex ICT networks from anywhere in the world. Only a couple of warm bodies are required to replace broken equipment.

About the only exceptions to this are bank trading floors, where no expense is spared to keep everything running. Otherwise, it's outsource and cloudsource.

[ecureilx]

It has also been shrinking due to costs. Call centers have moved to Manila and KL. The nature of onsite tech support services has changed... you no longer get a technician to come out and repair your printer, a delivery boy drops a new one off and the call center sets it up.

The architecture and design jobs have moved to PMO's in Europe, Australia, and the USA. The build and test now takes place in any of a dozen cheap labor countries. Vendors supply the project management (not always successfully).

ICT technical headcounts are minimized through consolidated data centers and the ability to remotely manage complex ICT networks from anywhere in the world. Only a couple of warm bodies are required to replace broken equipment.

About the only exceptions to this are bank trading floors, where no expense is spared to keep everything running. Otherwise, it's outsource and cloudsource.

Adding on, cloud computing makes it really borderless.

[Wd40]

I am curious how is the economy, job market etc these days? It has been sometime since the tightening of work passes started. But now I hear, that it is being relaxed a bit and companies have found workarounds, for example they hire really low level locals at intern levels and pay them a basic salary and then use that headcount to hire foreigners on EP. So I think at this point we have already seen the worst of tightening. But economy seems o be doing ok.

Sent from my Redmi Note 4 using Tapatalk

[CuriousKaptain]

not sure about other industries
but i think that software engineering is kinda saturated
companies seem to be picking and choosing their employees leisurely

[bgd]

I'm in the finance industry. I don't see any improvement in my company at least. We continue to decrease the Sg headcount. Roles are moved to cheaper locations and that process seems to be getting more aggressive. Learning nothing from history, the early adopters are insourcing now.

We are also jumping on the cloud bandwagon. It does promise a lot for those of us left but it's early days. I'm hoping the lead time and anal bureaucracy will disappear, but I'm not optimistic.