by Willie Tan | Apr 17, 2024 | Glossary
A banker’s guarantee, also known as a bank guarantee or a standby letter of credit, is a type of financial instrument issued by a bank on behalf of a customer. It serves as a promise by the bank to pay a specified amount of money to a beneficiary if the customer...
by Willie Tan | Apr 17, 2024 | Glossary
The Building and Construction Authority (BCA) of Singapore is a statutory board under the Ministry of National Development. It plays a key role in regulating and promoting the building and construction industry in Singapore. The BCA is responsible for several...
by Willie Tan | Apr 16, 2024 | Glossary
In the context of business and accounting, “Goodwill” in Singapore refers to the intangible asset that represents the excess of the purchase price of a company over the fair value of its identifiable tangible and intangible assets acquired in a business...
by Willie Tan | Apr 16, 2024 | Glossary
PMETs stands for “Professionals, Managers, Executives, and Technicians.” It’s a term commonly used in various countries, including Singapore, to refer to a specific segment of the workforce. PMETs typically include individuals who hold professional,...
by Willie Tan | Apr 16, 2024 | Glossary
Royalties are payments made to the owner of intellectual property (IP) for the use or exploitation of that property. This compensation is typically a percentage of revenue generated from the use of the IP. Intellectual property can include things like patents,...
by Willie Tan | Apr 14, 2024 | Glossary
Human resources (HR) refers to the management of an organisation’s workforce or human capital. It encompasses the policies, practices, and processes involved in recruiting, hiring, training, managing, and retaining employees to achieve the organisation’s...
by Willie Tan | Apr 14, 2024 | Glossary
A joint venture (JV) is a business arrangement in which two or more parties collaborate to pool their resources, expertise, and capital to undertake a specific project or venture. Joint ventures are commonly formed to pursue opportunities that require specialised...
by Willie Tan | Apr 14, 2024 | Glossary
In Singapore, Form M refers to the “Income Tax Return for a Non-Resident Individual” or “Form M”. This form is used by individuals who are not considered tax residents of Singapore but have earned income from Singapore sources that are subject...
by Willie Tan | Apr 14, 2024 | Glossary
The Urban Redevelopment Authority (URA) is Singapore’s national urban planning and development authority. Established in 1974, the URA is responsible for planning and regulating land use, urban development, and conservation efforts in Singapore to ensure...
by Willie Tan | Apr 14, 2024 | Glossary
A will is a legal document that outlines a person’s wishes regarding the distribution of their assets and the management of their affairs after death. A will allows individuals to specify how they want their property, possessions, and other assets to be...
