Artikel IRAS Reclaims S$3 Million from Singapore Funeral Industry pertama kali tampil pada todayinasian.com.
]]>To date, IRAS has conducted audits and investigations of 65 businesses with suspicious tax reporting and prosecuted three businesses. One of the most recent cases occurred in September, where Roland Tay, a well-known businessman from Direct Singapore Funeral Services & Embalming, was fined S$12,000 and required to pay penalties of more than S$529,000 for tax offences.
According to Ameera Koh, deputy director of IRAS’ investigations and forensics division, businesses in the funeral sector are often family-run and involve a lot of cash transactions. This practice, coupled with poor record-keeping and weak internal controls, can potentially lead to inaccurate tax reporting.
For example, family members who also act as accountants may result in sales and expenses not being properly recorded. In addition, payments from clients, which are often cash donations from family and friends, may not be documented.
IRAS also found that some religious service providers failed to declare income from ‘hongbao’ (respect money), which should have been recognised as employment income. Since 2019, IRAS has processed one offence case in this regard.
IRAS encourages companies in the funeral sector to switch to digital systems to improve transparency and prevent violations of the law. One successful example is Ang Yew Seng Funeral Parlour, which now uses online bank transfers and QR code payments. The company also utilises digital software to automatically generate invoices, which improves operational efficiency.
According to funeral director Ang Jia Jia, the company has also worked with a third-party accounting firm to ensure compliance with the latest financial and tax standards. ‘We want to maintain a positive business reputation in order to keep a good relationship with customers and suppliers,’ he says.
Digitalisation in the funeral industry has also been accelerated by the COVID-19 pandemic, which has forced many companies to reduce face-to-face interactions and switch to digital payment methods.
Read more : Nestlé and P&G Investigate Alleged Illegal Palm Oil in Supply Chains
The executive director of the Funeral Directors Association, Hoo Hung Chye, said that more and more companies have started to reduce the use of cash payments, following the trend of families collecting donations digitally.
While there are some unscrupulous individuals among the approximately 400 registered funeral service providers, Hoo emphasised that they do not reflect the overall service quality of the sector.
The association continues to endeavour to support funeral companies to be more professional and comply with regulatory obligations. ‘With the help of various agencies, we hope the entire industry can transform to better serve families,’ said Hoo.
With these efforts, the funeral industry in Singapore is expected to improve transparency, efficiency and professionalism in providing services to the public.
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]]>Artikel Nestlé and P&G Investigate Alleged Illegal Palm Oil in Supply Chains pertama kali tampil pada todayinasian.com.
]]>RAN’s investigation, supported by satellite imagery, indicates significant deforestation in the area. These images show large sections of cleared land, where lush rainforests once stood, now replaced by rows of young palm trees. The environmental group claimed that some images from a field investigation conducted in February 2024 showed oil palm seedlings planted on burnt soil surrounded by fallen trees, located within the wildlife reserve.
The Rawa Singkil Wildlife Reserve, situated in Aceh province on Indonesia’s Sumatra Island, has seen the loss of 2,609 hectares of forest since 2016, with palm oil plantations now covering 645 hectares of the previously cleared land, according to RAN’s findings. Although Reuters could not independently verify these findings, RAN’s report has raised alarms about illegal activities affecting the biodiversity of this crucial conservation area.
RAN’s investigation revealed that fresh fruit bunches from the illegal plantations were allegedly sold to palm oil mills PT Global Sawit Semesta (GSS) and PT Aceh Trumon Anugerah Kita (ATAK), both of which supply major global brands, including Nestlé, Procter & Gamble, Mondelez, and PepsiCo. These two mills are located in remote regions, making them inaccessible for comment.
Nestlé responded swiftly, engaging with its direct suppliers to investigate the claims. The company emphasized that by the end of 2023, 96 percent of its palm oil supply was sourced from “deforestation-free” areas. Procter & Gamble also took immediate action, suspending its palm oil sourcing from GSS and ATAK following RAN’s revelations.
Other companies involved, including Royal Golden Eagle Group (RGE), Musim Mas, and Permata Hijau, were also found to have sourced palm oil from GSS. RGE and Musim Mas confirmed they were investigating the matter, while Permata Hijau, Mondelez, and PepsiCo did not respond to requests for comment.
Indonesia, home to the world’s third-largest tropical rainforest, reported a reduction in its deforestation rate between 2020 and 2023, down from over 400,000 hectares annually in previous years. However, RAN’s investigation suggests that deforestation within the Rawa Singkil Wildlife Reserve has surged significantly between 2021 and 2023, despite existing laws prohibiting such activities.
RAN has accused palm oil mills, traders, and global brands sourcing from the area of failing to eliminate deforestation in what it calls the “Orangutan Capital of the World,” where endangered species like orangutans, tigers, elephants, and rhinos coexist. The report underscores the environmental damage caused by expanding palm oil plantations into protected forests, exacerbating concerns about the sustainability of the palm oil industry.
Palm oil, produced primarily in Indonesia and Malaysia, accounts for 60 percent of global vegetable oil exports. It is widely used in food, cosmetics, biofuels, and other products, fueling the demand that drives deforestation. Despite efforts to curb illegal deforestation, environmental groups continue to expose the impact of palm oil production on critical habitats, urging brands and consumers to seek sustainable sourcing practices.
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]]>Artikel Qoo10 ordered to close by Singapore High Court over debt issues pertama kali tampil pada todayinasian.com.
]]>Qoo10 has long been embroiled in a debt scandal with its vendors and business partners. Many have complained of delayed payments, with some even filing lawsuits for justice.
One of the affected parties is Korea Culture Promotion (KCP), a company that manages cultural portals and provides gift certificates and cultural products to its customers in South Korea. According to court documents obtained by CNA, KCP claims that Qoo10 owes them nearly 6 billion won (approximately US$4.3 million). In addition, KCP also claimed that Qoo10 refused to fulfil guarantees for the obligations of its two South Korean subsidiaries, TMON and WeMakePrice, which totalled more than 70 billion won.
Qoo10’s financial problems came to light last July, when TMON and WeMakePrice failed to make payments to merchants on their platform. This triggered an investigation by South Korean financial authorities. In October, the Seoul Bankruptcy Court ruled that the two platforms be sold to resolve the late payment issue.
In Singapore, the High Court also allowed another creditor, 21st Century Healthcare, to replace KCP as a claimant. According to court documents, 21st Century Healthcare claims Qoo10 owes them about S$954,000. Other creditors listed include SCI Ecommerce, Shenzhen Lanmey Industries, and Intrepid E-commerce Services.
KCP’s lawyers stated that the liquidator should be immediately authorised to investigate Qoo10’s activities, given the strong indications of misconduct by the company’s management that led to these financial problems.
Between April and August, the Monetary Authority of Singapore (MAS) as well as other government bodies received numerous complaints from Qoo10 merchants regarding payment delays. In September, Qoo10 informed MAS that a large number of merchants would face payment delays, resulting in MAS suspending all payment services provided by Qoo10 in Singapore.
However, MAS emphasised that this suspension does not prohibit Qoo10 from operating its e-commerce platform. Even so, there were no alternative payment methods available on the platform, so consumers were unable to make transactions.
This case shows the huge impact of poor financial management in an e-commerce company, causing losses to many parties, including merchants, business partners, and customers.
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]]>Artikel Increasing the Railway Reliability: Between Necessity and Cost pertama kali tampil pada todayinasian.com.
]]>Minister Chee made this statement during the parliamentary session on Monday (11 November), in response to a question from Opposition Leader Pritam Singh. Singh questioned whether the Ministry of Transport (MOT) plans to raise the target, given that the 1 million MKBF figure was set about five years ago.
Chee explained that the figure is based on the standards achieved by the world’s most reliable train operators, such as those in Taipei and Guangzhou. ‘To date, this target remains relevant, valid, and our main focus,’ Mr Chee said. However, he added that any potential increase in the target should be carefully considered as there will be cost consequences in terms of taxes or user charges.
The discussion on railway reliability comes after a series of disruptions to the MRT and LRT systems in recent months. One major disruption occurred last September, when train services on the East-West Line were disrupted for six days due to severe damage caused by a faulty train. In addition, service disruptions also occurred on the Bukit Panjang LRT line due to a train wheel failure, with services only restored a day later.
Chee, however, noted improvements in overall system reliability. MRT’s MKBF increased from about 1.8 million kilometres at the end of September to almost 2 million kilometres at the end of October. ‘We will continue to focus on keeping the MKBF above the 1 million target, as safety and reliability are very important to users,’ he explained.
SMRT has also set up a working group to evaluate their systems and processes, including maintenance practices. The group involves the Land Transport Authority (LTA), the National Transport Workers Union, as well as international metro operators from Guangzhou and Taipei for a learning exchange.
MP Yeo Wan Ling requested an update on the cause of the breakdown on the Bukit Panjang LRT line between Bukit Panjang and Choa Chu Kang stations. Based on LTA’s preliminary findings, the incident was caused by a wheel failure that caused the train’s tyres to deflate due to excessive friction. This resulted in damage to the tracks and a power outage.
Meanwhile, the renewal of the Bukit Panjang LRT system, which started in 2018, continues to progress. The S$344 million refurbishment project includes new signalling and electrical rail systems, as well as the renewal of the train fleet. Originally scheduled for completion in 2024, the project has been delayed to 2026 due to the pandemic. To support this process, train services on the line will end one hour earlier every Thursday to Sunday from 14 November 2024 to 31 October 2025, except on public holidays.
Chee emphasised that the refurbishment remains on schedule for completion in 2026. ‘We realise that this is a long journey, but these improvements are necessary to address long-standing issues and provide better services for users,’ he said. He also expressed his appreciation to passengers and residents for their patience during the refurbishment process.
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]]>Artikel Basnayake Keith Spencer Arrested After Stabbing Pastor at St Joseph’s Church pertama kali tampil pada todayinasian.com.
]]>Police confirmed the identity of the perpetrator on Saturday night and stated that the suspect had a criminal record related to serious violence and drug abuse. Basnayake was previously convicted of intentionally causing grievous bodily harm in September 2019 and sentenced to one year in prison.
On the same night, Reverend Christopher Lee, who was the parish priest of the church, was stabbed during mass. The incident occurred during the communion celebration at the monthly children’s mass, where children perform tasks normally done by adults.
Several members of the congregation, including the Diocesan Emergency Response Team, participated in restraining the perpetrator before he was arrested by the police. Home Minister K Shanmugam confirmed that the perpetrator was a Singaporean man of Sinhalese descent who had previously declared himself a Christian to the Immigration and Checkpoints Authority (ICA).
Based on preliminary investigations, the police stated that the perpetrator is suspected of acting alone and there is no indication that this is an act of terrorism. The police also asked the public to remain calm and not to speculate, as further investigations are being conducted to determine the motive behind this incident.
Read more : Increasing the Railway Reliability: Between Necessity and Cost
In addition to the penknife, four other weapons were found on the perpetrator, who was not a regular visitor to St Joseph’s Church, according to the police. Basnayake will appear in court on Monday charged with intentionally causing grievous bodily harm with a dangerous weapon. If convicted, he faces up to 15 years in prison, a fine, or flogging.
Police also plan to apply for a court order to detain Basnayake at the Mental Health Institute for psychiatric evaluation. The public is urged not to speculate on this incident, while further investigations are conducted by the authorities.
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]]>Artikel Indoor Ski Resorts in China: Revolutionizing Winter Sports Amid Climate Challenges pertama kali tampil pada todayinasian.com.
]]>Artikel Indoor Ski Resorts in China: Revolutionizing Winter Sports Amid Climate Challenges pertama kali tampil pada todayinasian.com.
]]>Artikel Thai – Singapore Couple’s S$25 Million Fraud Scandal pertama kali tampil pada todayinasian.com.
]]>The couple started a business called Tradenation in May 2021 to sell luxury watches, followed by the establishment of a second company, Tradeluxury, in January 2022 to sell branded bags. Both their companies adopted a pre-order system, offering prices 10-20% cheaper than local resellers by sourcing goods from overseas suppliers.
However, from late 2021 to early 2022, their business started to suffer due to delivery issues and sourcing difficulties. In February 2022, they realised that both companies did not have sufficient funds to fulfil the orders received. By the end of that month, their company had a net liability of S$1.8 million, which later increased to almost S$9 million by March 2022.
Despite its financial difficulties, Pansuk continued to receive orders and payments from customers. Funds received from pre-orders of Tradeluxury bags were used to complete orders for Tradenation watches. In addition, customers were often asked to sell their goods through a consignment system and reinvest the proceeds for future purchases.
As a result, 166 victims suffered a total loss of S$12 million as the promised goods were never received. Meanwhile, the couple continued to live a lavish lifestyle with the customers’ money. Pansuk received a salary of S$10,000 per month and allocated company funds to purchase a S$2.4 million property in Bangkok in her mother’s name, chartered a S$58,000 private jet for holidays, and made a S$140,000 down payment on a Corvette car in her husband’s name.
Read more : Stocks Soar in China and Hong Kong Amid Stimulus Measures, While Tokyo Faces Decline
Between May and August 2022, 187 police reports were filed against the couple. After Pi was arrested in June 2022 and released on bail, the couple decided to flee Singapore. In July 2022, they bribed a lorry driver, Mohamed Alias, to smuggle them out of Singapore through Tuas Checkpoint without a passport check.
After their escape was discovered, Singaporean, Thai and Malaysian authorities worked together to trace their whereabouts. On 11 August 2022, they were arrested in Johor Bahru, Malaysia, and handed back to the Singapore Police.
The court sentenced Pansuk to 14 years’ imprisonment, with the prison term starting in August 2022. Prosecutors said that Pansuk was the mastermind of this massive fraud, which involved 189 victims and became one of the largest fraud schemes in Singapore’s history. Although defence lawyers stated that Pansuk was remorseful, the fraud scheme had caused huge financial losses to the victims.
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]]>Artikel Singapore’s Economy Predicted to Grow Stably Next Year pertama kali tampil pada todayinasian.com.
]]>MAS expects Singapore’s economic growth this year to be at the upper end of the 2 to 3 per cent range, with similar projections for 2024. ‘GDP growth in both years will be supported by the modern trade and services cluster,’ the report said.
The outlook for global trade remains optimistic, while the cyclical recovery in technology is expected to extend to consumer devices, beyond artificial intelligence (AI)-related infrastructure. Increased adoption of AI is predicted to drive the information and communications sector, as companies accelerate their digital transformation.
The financial sector is also expected to continue to grow, fuelled by global monetary policy easing. In addition, asset managers recorded an increase in assets under management, as international investors became more interested in Asia.
The MAS report noted that Singapore’s economy showed a significant recovery in the third quarter of this year, with growth reaching 4.1 per cent according to preliminary estimates from the Ministry of Trade and Industry. The figure was above the pre-pandemic average, with around 60 per cent of industries recording equivalent or above-average growth.
The overall economic recovery was fuelled by a resurgent external sector, while the manufacturing sector provided an additional boost in the third quarter. All manufacturing clusters recorded increased production, with the electronics sector growing 15.4 per cent compared to the same period last year. The biomedical sector also saw an 8.8 per cent increase after 10 quarters of contraction.
The financial sector also recorded stronger trading activity amid global market volatility. Increased tourist arrivals, particularly from China, also contributed significantly to growth. The number of Chinese tourists increased by 56 per cent, accounting for two-thirds of the increase in total arrivals. Hotel occupancy rates rose, supported by longer duration of tourist visits.
Read more :Thai – Singapore Couple’s S$25 Million Fraud Scandal
While the economic outlook for 2024 is solid, there are downside risks that could arise from an escalation of geopolitical tensions or a sharper slowdown in China’s economic growth. Other factors that could influence are the US presidential election and tensions in the Middle East.
MAS also noted that the sustainability of the AI-led tech cycle recovery still depends on global demand conditions.
inflation, which excludes private accommodation and transport, is expected to end the year at around 2 per cent. However, inflation could pick up slightly in the last quarter of the year due to seasonal demand.
For next year, core and overall inflation is expected to average in the range of 1.5 to 2.5 per cent, with the effect of the goods and services tax hike starting to wane. In the event of a significant global economic slowdown, domestic prices could fall lower than expected.
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]]>Artikel Commercial Drone Operator Charged After Crash Incident in One-North pertama kali tampil pada todayinasian.com.
]]>Investigation Findings
The Civil Aviation Authority of Singapore (CAAS) uncovered several violations:
No safety issues were found with the base model of the TUNDRA 2 drone.
Read more : Singapore’s Economy Predicted to Grow Stably Next Year
Consequences and Actions
H3 Dynamics will be charged under the Air Navigation Act, with potential fines of up to S$100,000. The unlicensed drone operator and involved team members received 12-month conditional warnings. CAAS suspended H3 Dynamics’ operations, requiring them to complete corrective actions, including improving pilot training and enhancing safety protocols.
Next Steps
The suspension has been lifted, but H3 Dynamics is now restricted to conducting aerial photography and videography. They are no longer permitted to conduct drone testing or demonstrations. Additionally, the company will be subjected to more frequent safety audits to ensure compliance moving forward.
This incident highlights the critical importance of adhering to safety regulations when operating drones, especially in urban areas.
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]]>Artikel Candle Bottle Candy : China Cracks Down on Unsafe Snacks pertama kali tampil pada todayinasian.com.
]]>Enforcement Actions Across Provinces
Authorities in at least six provinces, including Gansu, Hubei, and Sichuan, have intensified inspections to ensure compliance with food safety standards. Spot checks in Gansu’s Yuzhong county revealed that more than half of 68 businesses near schools were selling non-compliant candies. Officials confiscated nearly 100 boxes of the product and instructed retailers to remove the treats from shelves.
Other regions have issued warnings, highlighting that while beeswax itself is non-toxic, some manufacturers have been using low-grade or industrial wax, which could pose serious health risks. These candies, meant to be chewed to release syrup, are now under heightened scrutiny.
Read more : Commercial Drone Operator Charged After Crash Incident in One-North
International Concerns and Bans
The safety concerns surrounding “wax bottle candy” have extended beyond China. In Taiwan, food regulators began investigating the snack in mid-September. Taiwan’s health ministry recently issued a warning, reiterating that these products are illegal on the island as they lack import approvals.
Similarly, Thailand took action in December, cautioning consumers against purchasing the candies and directing e-commerce platforms to halt their sales. Despite these measures, listings for the snack remain accessible on platforms like Lazada and Shopee, with deliveries available to locations including Singapore. Prices for 30 pieces average around S$3 (US$2.30).
Broader Food Safety Issues in China
China’s food safety challenges are not limited to “wax bottle candy.” In September, authorities launched an investigation into goji berry production after reports revealed merchants were using harmful chemicals to maintain the berries’ vibrant color. Additionally, in July, a scandal erupted when news surfaced that tanker trucks, used alternately for transporting cooking oil and chemicals, were not properly cleaned between uses to cut costs.
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