Mun Island Marine Protected Area in Nha Trang Bay is now closed to scuba diving tours while experts survey damaged coral reefs.
Sutton Tools hones precision delivery with Infor M3 CloudSuite
Infor M3 CloudSuite for manufacturing helps Australian business icon drill into business blind spots for innovative, Industry 4.0 solutions and significant savings
MELBOURNE, AUSTRALIA – Media OutReach – 29 June 2022 – Infor, the industry cloud company, today announced that Sutton Tools has deployed Infor M3 CloudSuite for manufacturing to achieve a timely and accurate understanding of its business to drive product and company expansion both domestically and abroad. Sutton Tools has also implemented the Infor OS cloud operating platform, including Infor Intelligent Open Network (ION) and Mongoose, to fine-tune internal processes and reduce total cost of ownership.

In 2001, Sutton Tools had a single distribution hub and one manufacturing centre but in the past decade has opened new facilities in New Zealand and The Netherlands as its first European base. After more than two decades, the successful migration to the cloud from a Movex/Infor M3 on-premise environment has saved Sutton Tools hundreds of thousands of dollars on new computing systems, and improved system integration and supply chain visibility across three manufacturing sites and three distribution centres – under the guidance of Infor global partner, Fortude.
Learn more about Infor M3 CloudSuite for manufacturing and Infor OS:
https://www.infor.com/en-au/solutions/erp/m3
https://www.infor.com/en-au/technology
According to Sutton Tools, the aim of the upgrade was to:
- Improve business IT uptime
- Reduce the effort required to upgrade an on-premise system
- Take advantage of modern, continually upgraded cloud service features
- Centralise its growing number of operational sites and existing third-party cloud-based services
- Make it easier to integrate with third-party applications
A family business founded more than 100 years ago, Sutton Tools has expanded its portfolio from manufacturing threads and gauges to cutting tools and power tool accessories for specialised industrial applications such as aerospace and automotive. As a progressive business with 380 employees and $100 million-plus in revenue, Sutton Tools is consistently seeking ways to improve how it sells and delivers its tool products: in France, a vending machine in an aerospace firm instantly alerts Sutton Tools to a sale, with invoices generated automatically.
“The primary benefits of the upgrade have been improvements in excellent business uptime reliability, the most pleasing aspect of the project. The savings (of $100,000s) have been significant,” said Peter Sutton, managing director at Sutton Tools. “One of the most important contributions to our success is our ongoing reinvestment into the business – through research and development, our manufacturing processes, and the underlying technology stack.”
According to Sutton, the project “well surpassed our expectations. The efficiencies alone and to also be able to leverage Infor Mongoose and Infor ION across the business, allowed us to re-focus on the actual software than the hardware.”
“The readiness assessment was an invaluable part of the process. It highlighted functionality we would gain with the project, but more importantly identified areas for some quick wins.
“Employees adapted very quickly … I can be anywhere in the world and I’m up and running with full oversight of the company operations. During Covid, the ease of (remote) access has been invaluable,” he said.
The transition to the cloud has delivered company-wide benefits beyond cost savings. Automatic upgrades to the platform had reduced stress on the company’s IT team, who could focus on business and productivity-improving tasks. Infor M3 CloudSuite for manufacturing provided easier access for employees and additional oversight for management.
Infor M3 CloudSuite for manufacturing has a proven, global track record for helping customers uncover a single source of truth in their operations, drive customer success and maintain reliable business uptime 24/7, all year round.
“Sutton Tools is an iconic Australian success story, and Infor is proud to be entrusted yet again to help steer the company to greater heights,” said Jarrod Kinchington, vice president & managing director at Infor Australia/New Zealand. “With Infor, Sutton Tools have found the best enterprise-grade cloud solution that’s purpose-built for its state-of-the-art production processes to consistently deliver supply chain excellence and drive business success into the future.”
For more information:
Phyllis Tan
Infor Asia Pacific
phyllis.tan@infor.com
+65 9799 9133
About Sutton Tools
Founded in 1917, Sutton Tools began as a family enterprise, manufacturing threads and gauges, and over time has expanded its expertise into a broader portfolio of cutting tools. Today, Sutton Tools remains an Australian family business that is renowned for its high-quality power tool accessories and cutting tools for the hardware market and a wide range of specialised industrial applications. Visit suttontools.com.
About Infor
Infor is a global leader in business cloud software specialised by industry. We develop complete solutions for our focus industries, including industrial manufacturing, distribution, healthcare, food & beverage, automotive, aerospace & defense, and high tech. Infor’s mission-critical enterprise applications and services are designed to deliver sustainable operational advantages with security and faster time-to-value. We are obsessed with delivering successful business outcomes for customers, and we are continually innovating to quickly solve emerging business and industry challenges. Over 60,000+ organisations in more than 179 countries rely on Infor’s 17,500 employees and their deep industry expertise to help overcome market disruptions and achieve their business goals. As a Koch company, our financial strength, ownership structure, and long-term view empower us to foster enduring, mutually beneficial relationships with our customers, employees and partners. Visit www.infor.com.
Copyright ©2022 Infor. All rights reserved. The word and design marks set forth herein are trademarks and/or registered trademarks of Infor and/or related affiliates and subsidiaries. All other trademarks listed herein are the property of their respective owners. www.infor.com
#Infor
Audience Analytics Acquires IP Rights for Golden Bull Award as it Ramps Up Expansion Strategy
Launched and first organised in 2003 by a Malaysian Chinese newspaper《南洋商報》 (Nanyang Siang Pau), the Golden Bull Award is one of Malaysia’s first and most representative annual business awards that honors top-performing businesses for their achievements. The Golden Bull Award comprises three different categories, namely Emerging SMEs, Outstanding SMEs, and the coveted Super Golden Bull Award, categorised according to the annual turnover of participating companies. Winners often capitalise on the award’s esteemed reputation and receive greater credibility and recognition for their work. In 2013, the award was subsequently acquired by a subsidiary of Singapore Press Holdings Limited.
Through its wholly owned subsidiary, Business Media International Sdn. Bhd., Audience Analytics has entered into a partnership agreement in February 2016, with Sphere Exhibits Pte. Ltd. (“Sphere“), a subsidiary of Singapore Press Holdings Limited, for the rights to use the trademarks pertaining to Golden Bull Award. Audience Analytics has since been the primary organiser of the Golden Bull Award, successfully holding the awards ceremony in Malaysia in 2017. Since then, Audience Analytics has expanded the Golden Bull Award to Singapore in 2018 and Taiwan in 2020.
To date, over 4,000 corporates across Malaysia, Singapore and Taiwan have participated in the Golden Bull Award program since 2017.
Chairman and Managing Director of Audience Analytics, Datuk William Ng, commented “We are thrilled to acquire the full IP rights of the Golden Bull Award as it not only gives the Group greater control over its revenue but also the full ownership of an established and coveted business award for businesses in the region. With the acquisition, the Group plans to aggressively expand the Golden Bull Award to other markets, growing the brand further in Pan Asia.”
None of the directors or substantial shareholders of the Company and their respective associates has any interest, direct or indirect, in the acquisition of the IP rights (save for their interests arising from their shareholdings and/ or directorships in the Company).
The acquisition of the IP rights does not have any material impact on the earnings per share and net tangible assets per share of the Group for the financial year ending 31 December 2022.
#AudienceAnalytics
The issuer is solely responsible for the content of this announcement.
Amazon Singapore unveils incredible Prime Day 2022 deals for Prime members to shop on 12 & 13 July
Prime Day starts at 12am SGT on 12 July, offering 48-hours of dream-worthy deals with brands including Acer, Bose, Fitbit, Philips, SharkNinja, LEGO, Tiger Beer, Calvin Klein and more.
Amazon will be hosting the first-ever Prime Day Pit Stop event in Singapore where members of the public can participate to win prizes including Amazon.sg Gift Cards, from 9-10 July at Suntec City and 12-13 July at Ocean Financial Centre.
SINGAPORE – Media OutReach – 29 June 2022 – (NASDAQ: AMZN) – 48 hours of dream deals is almost here as Amazon Singapore unveils a preview of the thousands of promotions that will be available on Prime Day from 12am SGT on July 12 to July 13 at Amazon.sg/primeday. Prime members will have exclusive access to deals across popular categories including Household & Kitchen; PC & Electronics; Beauty; Health & Personal Care; Baby & Toys; Apparel; Beer, Wine & Spirits; and more. New local brands and small and medium-sized businesses such as PRISM+, GINLEE and Pristine will also be participating in Prime Day. Anyone can join Prime or start a free 30-day trial at amazon.sg/prime to shop Prime Day deals.

Shop Deals from Small and Medium-Sized Businesses
Globally, Prime Day provides small and medium businesses the opportunity to promote their products to more than 200 million Prime members around the world.
“PRISM+ is proud to announce our launch on Amazon Singapore, which has proven to be a great channel for local brands to reach out to its audiences,” said Jonathan Tan, Founder of PRISM+, a local electronics brand. “For years, Prime Day has been one of the major e-commerce events of the year as consumers look to enjoy great savings – and we are excited to be a part of this year’s edition, as we continue to make premium experiences accessible to the masses.”
Support and shop deals from small businesses at amazon.sg/smallbusinesses that include the following and more:
- Save up to 30% off selected Snailax products, including Portable Shiatsu Massager, Body Massage Chair Pad, and more
- Save up to 30% off selected Epitex products, including Silkysoft bedlinen collection, and more
- Save up to 30% off selected MANSCAPED products, including The Lawn Mower™ 3.0, 4.0 and more
- Save up to 30% off selected Pristine Aroma products, including reed diffusers in various scents, and more
- Save up to 30% off selected Renpho products, including Massage Pillow with Heat, and more
- Save up to 30% off selected items from UGREEN, including Ultra High-Speed HDMI Cables, and more
- Buy 2 items and get 20% off selected items from GINLEE, including Lya dress, Rin tank top, and more
Prime Day Category Deals Preview
Featuring incredible discounts and savings, Prime members can shop jaw-dropping deals on top-tier brands and products from SharkNinja, Acer, Bose, Razer, La Roche-Posay, Philips, LEGO, Hasbro Gaming, Calvin Klein, Tiger Beer, and more. Offers will be launched at different times throughout the 48-hour shopping event. Terms and conditions apply to all promotions.
A preview of Prime Day deals on July 12 and 13 that Prime members can expect include:
- PC & Electronics
- Get S$80 off min. spend S$800, S$200 off S$1500 on selected Acer products, including the Nitro, Swift, Aspire, Predator range, and more. Get a free gaming chair, earbuds or mouse with purchase of selected products.
- Save up to 40% off selected Fitbit products, including Sense Advanced Watch (SG Edition), Luxe Fitness Tracker, Charge 5 Advanced Fitness Tracker, and more
- Save up to 40% off selected SanDisk and Western Digital products, including internal and external solid-state drives, and more
- Save up to 28% off selected Lenovo products, including Thinkpad and Ideapad laptops, ThinkVision monitors, and more. Receive a free backpack and mouse with purchase of selected products.
- Save up to 30% off selected AMD Ryzen products, including 32-Thread Unlocked Desktop Processor, 12-Thread Unlocked Desktop Processor with Wraith Stealth Cooler, and more
- Save up to 30% off selected Bose products, including QuietComfort 45 Headphones, Sport Earbuds, Smart Soundbar 700, and more
- Save up to 20% off selected Sony products, including WH-1000XM4 Wireless Noise-Cancelling Headphones, WF-C500 Truly Wireless Headphones, and more
- Save up to 25% off selected Razer products, including Naga X Wired MMO Gaming Mouse, Anzu Smart Glasses, Kraken Ultimate Gaming Headset, and more
- Household, Kitchen & Pets
- Get S$8 off S$60 on selected products from Magiclean, Merries, Laurier, and more
- Get S$15 off S$60 on selected products from Dove, Magnum, Persil, and more
- Save up to 40% off selected SharkNinja products, including Ninja Pro Blender, Shark WANDVAC System, and more
- Save up to 40% off selected Roborock products, including S7 Robot Vacuum and Mop, and more
- Save up to 30% off Nespresso products, including VertuoPlus, Vertuo Next, and more
- Up to 25% off selected Wellness & Oxbow pet products, including Wellness CORE Ocean Dry Dog Food, Garden Select Adult Rabbit Food, and more
- Save up to 20% off KitchenAid products, including stand mixers, and more
- Beauty, Health & Personal Care
- Save up to 60% off selected Sukin products, including Botanical Body Wash, Natural Balance Shampoo and Conditioner, and more
- Save up to 50% off selected Bioderma products, including Sensibio and Sebium Gel Moussant, Sebium Moisturiser, and more
- Save up to 50% off selected Oral-B products, including Cross Action PRO 500, Vitality Precision Clean, and more
- Save up to 45% off selected Hask products, including Coconut Oil 5-In-1 Leave-In Spray, Biotin 5 In 1 Leave-In Conditioner, Argan Oil Repairing Hair Vial, and more
- Save up to 40% off selected Revlon products, including ColorStay Foundation, PhotoReady Prime Plus Primer, and more
- Save up to 40% off selected La Roche-Posay products, including Effaclar Foaming Purifying Gel, Effaclar Duo +, Anthelios Invisible Fluid SPF50+, and more
- Save up to 30% off selected SKII products, including Skin Power Airy Milky Lotion, Men Facial Treatment Essence, Facial Treatment Clear Lotion, and more
- Save up to 30% off selected Nature Made products, Nature’s Bounty, SmartyPants vitamins including Acidophilus Probiotic, Vitamin D3, Vitamin B12, and more
- Save up to 20% off selected Braun products, including Series 3 Electric Shaver, Satin Hair Senso Care Hair Dryer, and more
- Save up to 20% off selected Philips products, including Airflower Thermoprotect Hair Dryer, Multigroomer 7000, and more
- Toys, Books & Baby
- Save S$10 with S$50 min spend across selected products Barbie, Fisher-price and more brands, including UNO (Wild), Hot Wheels Speedway Hauler, Barbie Fashionistas Ultimate Closet, and more
- Save up to 50% off selected Times books, including Press Here by Hervé Tullet, Indestructibles: Baby, Let’s Eat! by Stephan Lomp, and more
- Save up to 40% off selected LEGO products, including Classic Medium Kids Creative Kit, Harry Potter Hogwarts Wizard’s Chess Set & Board Game, Creator Expert Flower Bouquet, and more
- Save up to 35% off selected Marvel products, including Wolverine Collectible Action Figure, Mech Strike Iron Man Strikeshot Gauntlet, and more
- Save up to 25% off selected Melissa & Doug products, including Let’s Play House – Pretend Play Set, Super Smile Dentist Play Set, Wood Food Groups, and more
- Save up to 25% off selected products from Hasbro Gaming, Play-Doh, Playskool Heroes, including Monopoly, Battleship, Bullseye Ball, and more
- Apparel
- Save up to 30% off selected TSLA products, including sportswear clothing and gear, and more
- Save up to 25% off selected Calvin Klein products, including Men’s Skinny Fit Jeans, Men’s Jersey, Men’s Cotton Multipack T-shirts, and more
- Save up to 25% off selected Nautica products, including Men’s Polo, Men’s Performance Pique Polo, and more
- Beer, Wine & Spirits
- Save up to 25% off selected Penfolds products, including Koonunga Hill Shiraz, Max’s Shiraz, Max’s Chardonnay, and more
- Save up to 25% off selected 19 Crimes products, including Red Blend Wine, Cabernet Sauvignon, Chardonnay, and more
- Save up to 19% off selected Tiger Beer products, including 24-can cartons across Tiger Lager, Tiger Radler, Tiger Crystal, and more
- Cross Category Deals:
- Buy 3 get Extra 30% off on selected products under Baby, Beauty, Health and Personal Care
- Buy 2 get 30% off, Buy 3 get 40% off selected products under Books and Toys
- Save up to 25% off, Buy 3 get extra 10% off selected products under Groceries and Beverages
- Buy 3 for 2 on selected Electronics and PC products
- Buy 2 get 15% off on selected Headphones and PC products
- Buy 2 get 1 free on selected Home and Kitchen products
Amazon makes it easier for customers to give back through the Amazon x Shop for Good Wishlist. Customers can support local non-profit organizations (NPOs) and their causes by purchasing items off their Amazon wishlist – a depository of items they need the most. Shoppers keen to do good can donate through the wishlist.
Carol Muck, Head of Community Partnerships at SHINE Children and Youth Services, said: “SHINE uses numerous tools to engage with our children and youth. Items such as board games, sporting goods and video games are commonly used during our drop-in sessions to support their social and emotional development. We appreciate how Amazon rallies its consumers to support local charities like ours by creating a pathway for them to donate the items the beneficiaries need the most. Through the generosity of local donors, we are able to engage with our children better while wastage is minimized. It is a win-win for the community and the environment.”
More Ways to Have Fun this Prime Day
- Prime Day Pit Stop: In celebration of Prime Day, Amazon will be recreating the classic ‘carnival’ experience at the first-ever Prime Day Pit Stop in Singapore. Members of the public are invited to attend in-person and play classic games to win exciting prizes, including Amazon.sg Gift Cards. Customers can find the Amazon truck at the entrance of Suntec City along Nicoll Highway, next to Esplanade MRT Exit A, on 9 and 10 July from 10am to 8pm, and at the main entrance of Ocean Financial Centre on 12 and 13 July from 10am to 7pm.
- Power through Prime Day with local favourite coffee stall chain Ya Kun Kaya Toast: From now to 13 July, get a S$5 Amazon.sg voucher with a purchase of a value set meal across Ya Kun Kaya Toast outlets in Singapore, excluding outlets at Changi Airport Terminal 1 and 3, and Takashimaya. Whilst stocks last. T&Cs apply.
- Amazon Vouchers: Discover more ways to save with Amazon Vouchers. Find discounts on everyday essentials, as well as gifts, electronics, beauty, toys, and more. Simply clip the voucher and the discount will be applied at checkout. Visit Amazon.sg/vouchers for information.
- Amazon.sg Gift Cards: Available during this Prime Day, Amazon.sg Gift Cards offer an easy, simple, and convenient gifting experience, providing access to an extensive selection of products on Amazon.sg at Amazon.sg/giftcard.
- Exclusive Payment Promotions, only for Prime members:
- Get S$8 bonus with min. purchase of S$60 eGift Cards.
- Get 10% off on Riot Games Gift Cards.
- Get 1% unlimited cashback on all purchases made with PayNow.
- Exclusive Payment Promotions, only for Prime members:
- Bank promotions to enjoy greater savings when shopping at Amazon.sg and Amazon Fresh.
- Amazon.sg
- Get a S$10 Amazon.sg Gift Card when you spend S$180 or more on your DBS/POSB card on Amazon.sg.
- Get a S$8 Amazon.sg Gift Card when you spend S$120 or more on your Citi credit card on Amazon.sg.
- Get a S$8 Amazon.sg Gift Card when you spend S$120 or more on your HSBC credit card on Amazon Fresh store or Watsons store on Amazon.sg.
- Get a S$8 Amazon.sg Gift Card when you spend S$120 or more on your UOB card on Amazon.sg.
- Amazon Fresh
- Get a S$8 Amazon.sg Gift Card when you spend S$120 or more on your HSBC credit card on Amazon Fresh store or Watsons store on Amazon.sg.
- Get a S$8 Amazon.sg Gift Card when you spend S$120 or more on your Citi credit card on Amazon Fresh store or Watsons store on Amazon.sg
- Get a S$8 Amazon.sg Gift Card when you spend S$120 or more on your HSBC credit card on Amazon Fresh store or Watsons store on Amazon.sg.
- Amazon.sg
- New to Amazon.sg? Enjoy these perks:
- First order on Amazon.sg? Get S$10 off S$50 with code “NEWBIE”.
- First order on Amazon Fresh? Get S$20 off S$70 with the code FRESH20. Prime members only.
- Get S$15 off S$50 on your first app purchase with code PRIMEDAY15.
Visit Amazon.sg/primeday for the latest Prime Day news and visit Amazon.sg/smallbusinesses to start shopping from small business sellers.
Every Day Made Better with Amazon Prime
Amazon Prime was designed to make your life better every single day. Over 200 million paid members around the world enjoy the many benefits of Prime, including the best of shopping and entertainment. Prime was built on the foundation of unlimited fast, free shipping. Prime members in Singapore enjoy access to tens of thousands of items available on Amazon Fresh with free two-hour delivery on orders over S$60, as well as free one-day delivery on domestic Prime eligible items on Amazon.sg. Members also enjoy access to millions of products on Amazon International Store on Amazon.sg with free international delivery on eligible orders over S$40. Prime is S$2.99 per month. Start a 30-day free trial of Prime at
Amazon.sg/prime. In Singapore, Prime membership also includes unlimited access to award-winning movies and TV episodes with Prime Video, unlimited access to video game benefits with Prime Gaming, access to epic deals on Prime Day, and more.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, personalized recommendations, Prime, Fulfillment by Amazon, AWS, and Kindle are some of the products and services pioneered by Amazon. For more information, visit Amazon.sg.
SOCIAL HANDLES:
Instagram: @Amazon.SG
Facebook: @Amazon.sg
Twitter: @AmazonSG
#AmazonSingapore
Thailand Sees Two Million Foreign Tourists Since 1 January
Indians and Malaysians are leading a tourist influx to Thailand after the country eased entrance restrictions, with total arrivals surpassing two million since the beginning of the year.
Marketing application of BOGUTAI® (teriparatide injection) has been officially accepted by the China National Medical Products Administration (NMPA)
BOGUTAI® (teriparatide injection) is the Group’s fifth marketed product following GENETIME® , GENESOFT® , PINUP® , BOKANGTAI®, and it is also the first domestic manufactured PTH Liquid in China to use a disposable injection pen. Developed in collaboration with Swiss self-care giant Ypsomed, this product has an extremely thin injection needle and high dose accuracy, which can greatly reduce the pain of injections for patients. The Group strongly believe BOGUTAI® will be a future blockbuster for the Group by virtue of the product’s strong cost advantage, better therapeutic effect and convenient administration method.
Teriparatide injection adopts biological expression technology, and is a recombinant human parathyroid hormone analog (PTH1-34), which has the same sequence as the 34-amino acid N-terminal amino acid (biologically active region) of human parathyroid hormone of 84 amino acids. For the treatment of osteoporosis in postmenopausal women with a high risk of fractures, it is the only osteogenesis-promoting anti-osteoporosis drug approved for marketing at home and abroad, which can effectively improve bone microstructure, increase bone strength, promote bone healing, and significantly reduce the risk of vertebral and nonvertebral fractures in postmenopausal women.
China is the country with the largest number of osteoporosis in the world. According to the data of the seventh census in 2021, there are currently 264.02 million people aged 60 and above in my country, accounting for 18.70%. Epidemiological surveys show that the prevalence of osteoporosis among people over 50 years old in China is 20.7% for women and 14.4% for men; the prevalence of osteoporosis among people over 60 years old is significantly higher, and women are particularly prominent, as high as 51.6%. Hence, there are currently about 90 million osteoporosis patients in China, and the osteoporosis market size is about 15 billion to 20 billion yuan. The current market share of teriparatide is only about 1% of the PRC osteoporosis market, which is significantly lower than that of foreign countries. The main reason is that it is expensive and not covered by medical insurance. However, in the long run, with the aging of Chinese’s population, the gradual improvement of the coverage of the medical insurance system and the improvement of residents’ purchasing power, the market size of teriparatide will accelerate significant. Moreover, BOGUTAI’s product positioning of being more cost-effective and safe fits the needs of target demographic better, ensuring faster growth compared to other teriparatide competitors.
About Uni-Bio Science Group
Uni-Bio Science Group Limited is principally engaged in the research and development, manufacture and distribution of biopharmaceutical products. The research and development center is fully equipped with a complete system for the development of genetically-engineered products with a pilot plant test base which is in line with NMPA requirements. The Group has two GMP manufacturing bases in Beijing and Shenzhen. The Group also has a highly efficient commercialization platform and marketing network. The Group focuses on the development of novel treatments and innovative drugs addressing the therapeutic areas of endocrine as diabetes and osteoporosis, ophthalmology and dermatology. Please visit the official website of Uni-Bio Science Group for more information: www.uni-bioscience.com/
#UniBioScienceGroup
Singapore Island Cruise Launches National Day 2022 Promotion
To celebrate the country’s 57th birthday, Singapore Island Cruise is running a National Day promotion this year, offering a 20% discount off all ferry tickets to the Southern Islands. To enjoy this special promotion, customers can purchase tickets directly from Singapore Island Cruise’s website and enter the exclusive promo code “SG20”. Ferry tickets purchased from other platforms are not eligible for the discount.
With a fleet of 14 air-conditioned vessels, the company prides itself in delivering the most reliable and efficient services for anyone looking for a chartered ferry in Singapore. Besides scheduled ferry trips, one may also hire a private ferry for charter to and from the Southern Islands. This service allows individuals the freedom to decide on their itinerary, arrival, and departure times.
As the country’s first, original and longest-serving ferry operator from Marina South Pier, Singapore Island Cruise has been providing scheduled ferry transport services to Kusu Island and St. John’s Island daily since its establishment in 2007. For those looking for a ferry to Lazarus Island, board a ferry to St. John’s Island and cross over the causeway to Lazarus Island.
With the launch of their new National Day 2022 promotion, Singapore Island Cruise strives to continue to provide the most memorable experiences for all their passengers with their professional ferry services.
For more information or to book your tickets, please visit https://islandcruise.com.sg/.
#SingaporeIslandCruise
Coface Asia Corporate Payment Survey 2022: Asian companies face rising credit risks despite shorter payment delays
No deterioration of payment delays despite the impact of COVID except in China
Improved economic conditions in 2021 contributed to a notable fall in the duration of payment delays across Asia-Pacific, dropping from 68 days on average in 2020 to 54 days in 2021, the lowest level in 5 years. The share of respondents experiencing overdue payment remained stable at 64% vs. 65% in the previous year. Among the nine economies covered, payment delays shortened the most in Malaysia and Singapore. By contrast, China was the only country that recorded a rise in payment delays, and also was the country with the longest average payment delay.
However, the survey highlighted some concerns. The share of respondents that mentioned an increase in the amount of overdue went up to 35% in 2021, against 31% in the preceding year. Furthermore, more companies reported ultra-long payment delays (ULPDs) of more than 10% of annual turnover, with this increase driven largely by China where the already high share of 27% in 2020 grew to 40% in 2021. The proportion of ULPDs slightly rose in Australia and India, while it stabilized or declined in the other six economies, with a significant drop in Hong Kong. The large majority of ULPDs are never paid, and therefore, cash-flow risks tend to increase when these ULPDs account for over 2% of a company’s annual turnover.
Sector-wise, the increase in companies experiencing ULPDs of more than 10% was particularly marked in the metals sector, for which it increased by 14 pp to nearly 23%, the largest registered among the 13 sectors. Other sector such as construction, ICT, transport and textile also face significant cash flow risks, with more than 30% of companies that experienced ULPDs reporting that such delays represented more than 2% of annual turnover.
Economic Expectations: Sustained optimism but high concern on rising material prices
Overall, optimism remains intact, with 71% of respondents expecting economic growth to improve in 2022. This optimism was, however, unequal across the region. Singapore is more optimistic compared to the Asia average, with 83% (+17 pp) anticipating higher growth. Companies in Japan and Thailand, where the recovery was relatively subdued in 2021 and therefore with a greater scope for a stronger recovery in 2022, showed more confidence as well, both rising by 14 pp to 75% and 80%, respectively. By contrast, this share was only 44% in Malaysia, showing a significant decline (-29 pp) as compared to last year amid rising political uncertainty, with the possibility of a snap general election in 2022.

Rising raw material prices are increasingly mentioned by respondents when asked about the effect of COVID-19 on their sales performance and cash flow. Over half (54%) of the companies mentioned rising raw material prices as a key factor, up considerably from 31% in 2020. Raw material prices rose sharply in 2021, especially in crude oil, and were lifted significantly higher following the conflict in Ukraine. This intensified cost pressures for companies worldwide, including in Asia-Pacific, which heightened the risk of developing cash-flow problems.
Asian businesses margins increasingly under pressure
Nowadays, businesses are dealing with a complex environment characterized by supply chain disruptions, geopolitical tensions, and surging inflation. Supply constraints persisted in 2021, partly due to fresh COVID-19 outbreaks and new lockdowns. Nonetheless, the world gradually reopened and private demand rebounded. This widened the gap between demand and supply of many products and raw materials, leading to significant increase in prices. Global supply chain pressures slightly abated at the start of 2022, but were reignited by the Russia-Ukraine conflict. Given both countries’ predominant role in global commodity markets, the conflict has led to a further surge in raw material prices, pushing inflation higher and, in turn, wages as well. Consequently, it weighed on business profitability by increasing production costs.
After enjoying subdued inflationary pressures through 2021, Asian countries are now recording rapidly rising inflation, especially in food and energy items. In some Asian economies, consumer price index (CPI) growth rate has exceeded central bank’s target. This was the case in Thailand, where CPI posted an annual increase higher than the upper value of the central bank’s target band of 3% for the fifth consecutive month in May. Inflation target were also breached in Australia, India, and the Philippines. After having experienced deflation during 10 months over 2020/2021, Japanese inflation went above the Bank of Japan’s target with 2.5% in April. Facing this surge in living costs, some countries decided to increase wages in order to help consumers to deal with the situation. In Japan, South Korea and Singapore, data revealed that average wage growth has accelerated since 2021. In Southeast Asia, Malaysia introduced a large minimum wage hike of 35% in May 2022. A rise in minimum wage is also set to be implemented in the Philippines in June and in Vietnam the following month.
‘Improved economic conditions in 2021 contributed to a notable fall in the duration of payment delays across Asia-Pacific. However, companies in the region faces rising credit risks, with more companies reported an increase in the amount of overdue. They were also more experiencing ultra-long payment delays of more than 10% of annual turnover, notably in China and, to a much lesser extent, in Australia and India.’, said Bernard Aw, Coface’s Asia-Pacific Economist.
Find here the Coface Asia Corporate Payment Survey 2022 produced by Coface.
COFACE: FOR TRADE
With over 75 years of experience and the most extensive international network, Coface is a leader in trade credit insurance and adjacent specialty services, including Factoring, Single Risk insurance, Bonding, and Information Services. Coface’s experts work to the beat of the global economy, helping ~50,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group’ solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2021, Coface employed ~4,538 people and registered a turnover of €1.57 billion.
#Coface
The issuer is solely responsible for the content of this announcement.