Let's Talk, Singapore

In MONEY FM 89.3 exclusive Singapore Budget Conversations, we're joined by Ms Indranee Rajah, Minister in the Prime Minister's Office & Second Minister for Finance and National Development, Alvin Liew, Senior Economist, UOB & Ajay Kumar Sanganeria, Partner & Head of Tax, KPMG in Singapore as we dive deeper into the announcements made at Budget 2022. Some key highlights that we cover include: 

• Singapore’s carbon tax
• Rationale behind taxing high earners more in Singapore
• Tightening of Singapore's foreign worker policies
• Thought process behind the two steps approach in Singapore’s GST hike

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Synopsis: The Straits Times analyses South-east Asia's top news developments in this weekly podcast.

The Straits Times' regional correspondent Leslie Lopez chats with Money FM's Elliot Danker and Bharati Jagdish.

Highlights (click/tap above):

00:59 Impact of the European Union's expansion of its sanctions on Myanmar's military junta

02:29 Slow progress of implementing the five-point peace plan between Asean and Myanmar's military junta

03:57 Former Malaysian Prime Minister Mahathir Mohamad says Najib Razak is 'not one bit remorseful' after 1MDB funds scandal, ahead of Johor state polls

05:35 Official negotiations between Parti Keadilan Rakyat (PKR) and Malaysian United Democratic Alliance over, after PKR decides to name its candidates for the remaining 7 seats

06:56 Indonesia seeking to launch a home-grown Covid-19 vaccine, the Merah Putih, in August

Produced by: Leslie Lopez ([email protected]), The Breakfast Huddle, Money FM 89.3, Hadyu Rahim

Edited by: Dan Koh

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Margaret Yang, Strategist, DailyFX, discusses how higher expenses were a big factor behind OCBC's 14 percent drop in Q4 net profit, and if these headwinds will persist.

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To wrap up the announcements and details of Singapore Budget 2022, Alvin Liew, Senior Economist, UOB joins us to discuss if the restructuring anxieties in Singapore felt by workers and firms have been adequately addressed and how Budget 2022 will set Singapore up for economic growth this year. 

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As announced at Budget 2022, Singapore is bringing forward its net-zero timeline "by or around mid-century", as part of the green initiatives. The biggest highlight was probably carbon taxes that were introduced in 2019 at S$5 per tonne of emissions and will be raised to S$25 per tonne in 2024 and 2025. Wong Wai Meng, SGTech Chair & CEO, Keppel Data Centres shares how this new carbon tax increase will impact businesses and what are Keppel Data's plans to hopefully not feel the impact from this increase.

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