Eddy Wong’s Post

⏰ Inefficient international #payments are a huge burden for busy SMEs. They're costly, time-consuming and take away too many resources from critical business tasks 🤔 Check out this piece in the Hong Kong Economic Times which showcases how Eric Fung, PMP, the founder of Flavour of Life Limited, a Japanese sake supplier, is using Wise Business to streamline his company's international payments easily and affordably 💸 Flavor of Life sells sake from small family breweries in Japan's Yamaguchi Prefecture to customers across the world including the US, Canada and beyond 🌎. By using Wise, they can pay the sake brewers directly within minutes* and see exactly the rates and fees being charged. The speed of payments also enhances credibility and trust among their Japanese sake suppliers 🤝. For busy SME owners like Eric, every second saved equates to money saved ⌚️. With Wise, his business is able to benefit from lower fees, competitive exchange rates, and improve operational efficiency so he's able to focus on growing his business internationally 🚀 Read the original article (in Chinese) here 🇭🇰: https://wi.se/qvodg *Transaction speed claimed depends on individual circumstances and may not be available for all transactions.

Three decades ago, a stock market and real estate bubble led Japanese corporations and individuals to accumulate massive debt. When the bubble burst, asset values plummeted, leaving many insolvent. A significant portion of corporate profits and personal income was subsequently diverted to debt repayment, leaving little for production or financial investment. A deep-seated aversion to borrowing emerged, with debt becoming stigmatized. This societal 'psychological trauma' rendered monetary policy ineffective, as even zero interest rates failed to stimulate borrowing and investment, plunging the economy into a deflationary spiral. However, the Japanese government now appears to have found a remedy: leveraging 'external forces' to reignite economic growth. By focusing on a few key industries and encouraging corporate profitability and wage increases, other industries are also affected to varying degrees by key industries, gradually eroding the negative societal sentiment stemming from the past. This will lead to a broader economic recovery. #japan #economy #debt #psychological #trauma #investment #monetary #borrowing #bubble #burst #rate #deflation https://lnkd.in/gNZPSz5E

(Tokyo Shimbun 6/7/24) Note to Self: If maintaining or considering applying for Permanent Residence Status (永寿許可) in Japan as a foreigner (not with Japanese citizenship), best to keep up-to-date or come up-to-date on all of the Japanese income taxes and social insurance taxes, etc. in Japan as the Diet is now deliberating a bill which could pass-which can easily sanction revocation of such resident status if one is in tax filing or payment arrears… Causing some outrage within some foreign resident organizations here in Tokyo「永住権取り消し」規定、在日韓国人らが削除求める　在留カード不携帯でも適用可…「人権脅かす重大事案」：東京新聞 TOKYO Web https://lnkd.in/geCJnNJ9

Recent insights reveal a concerning trend in Singapore, where inflation has outpaced nominal income growth, leading to a 2.2% decline in median real income. For Singaporeans struggling to keep up, what are some suggestions to maintain financial stability? In an interview with Lianhe Zaobao 联合早报, Raymond Ong, CEO of Etiqa Insurance Singapore, emphasises the need for prudent financial management at all income levels, recommending budgeting, monitoring expenses, and identifying savings opportunities. He cautions against the trap of lifestyle inflation, where one's spending escalates with rising income, and advocates for regular financial self-assessments to curb overspending. Our sincere thanks to Crystal Heng from Lianhe Zaobao for sharing these views. #EtiqaInsuranceSingapore #LianHeZaobao #FinancialStability #Inflation #IncomeGrowth

One bridge connects three places and accelerates integrated development (Big Data Observation) The Hong Kong-Zhuhai-Macao Bridge has greatly enhanced the integration of the Guangdong-Hong Kong-Macao Greater Bay Area since its opening six years ago. General Secretary Xi Jinping emphasizes that major infrastructure projects should be high quality and promote regional development. The bridge has facilitated over 62.3 million passengers and 12.76 million vehicles, with cross-border imports and exports valued at 942.7 billion yuan as of September. Notably, the bridge's Zhuhai highway port has streamlined customs processing, enabling quick clearance for trucks transporting goods, including electronics, to Hong Kong. The creation of the Hong Kong-Zhuhai-Macao Cross-border Trade Global Central Warehouse and the Guangdong-Hong Kong-Macao Logistics Park has further boosted logistics and e-commerce, establishing a new economic corridor that enhances interactions and infrastructure between Zhuhai, Hong Kong, and Macao. To improve traffic flow, local vehicles from Hong Kong and Macao can now enter mainland China, resulting in a significant rise in traffic, with 4.35 million vehicles inspected in 2023—an 82.8% increase from the previous year. The bridge's strategic position has fostered a "one-hour living circle," making travel more convenient for residents across the three regions. Customs facilitation measures, such as "two-step declaration" and electronic filing, have been adopted to meet the rising logistics demand, improving customs efficiency with technologies like advanced monitoring systems and simplified inspection procedures. Continued innovations aim to enhance trade and tourism, driving regional integration and development. #MotiveAsia #China https://lnkd.in/gWVA29Pc

Since the outbreak of the Sino-US trade war, Vietnam has become the first choice for enterprises due to its proximity to China, rapid economic growth, and low labor costs. Despite Vietnam's advantages, Indonesia also offers great potential for foreign investors looking for long-term opportunities. As the largest economy in ASEAN, Indonesia offers foreign investors huge growth prospects.

One key outcome of the recent Philippines-US-Japan trilateral summit was the launch of the Luzon Economic Corridor, which would link the ports and economic hubs of Subic and Batangas with the capital, Manila, in the country’s biggest island. High-impact investments in infrastructure, clean energy, semiconductor supply chains, and agribusiness will be put along the way. This could be the Philippines’ gambit to gain from de-risking and allyshoring and offset lost economic opportunities from China as maritime tensions boil. Shared my views with Yen-chun (Angie) Chen in this CNA report.

Our Head of Japanese Equities, Wee Ban Yew shared with Economic Daily Taiwan what the unique characteristics of #Japanese equities are and the bullish factors driving this market. With a soaring rally and the #Nikkei’s average closing above 40,000 recently, investors must take stock of the potential ramifications to address the market’s outlook and look at how Japan’s monetary policy is expected to impact the performance of Japanese equities in the coming months.   Click to access the full story below: https://lnkd.in/g74gJz-a #LionGlobalInvestors #AssetManagement #MarketOutlook

Whenever we say it's 'cheap, cheap' in Malaysia, we must spare a thought for the Malaysian worker working in Malaysia earning the ringgit. The problem with Singaporeans is that they measure the cost of living in other countries using the strength of the Singapore dollar. To the Malaysian worker who earns RM$2000 a month, RM$6.90 for breakfast isn't exactly cheap. At Kopitiam, a breakfast set comprising a cup of coffee or teh, 2 soft boiled egg and a Kaya toast is S$2.20 if you're a member. It costs a bit more if you're not a member (S$2.80). Compare the one who earns RM$2000 paying RM$6.90 for a breakfast set, and the one earning S$2000 paying S$2.80 for a breakfast, who experiences a lower cost of living?

GDP turns positive for the first time in two quarters, increasing by 0.4% in October-December period The GDP for the October-December period in 2023 has increased by 0.1%. This marks a turnaround from preliminary figures showing negative growth for the first time in two quarters. Capital investment reflected an increase from 0.1% decrease to a 2.0% increase. Financial markets are speculating that the Bank of Japan will lift negative interest rates. Despite this positive growth, there are concerns related to personal consumption and overseas economies. #AsiaOperations #EconomicGrowth #Japan Follow us for daily updates on risk and operations in Asia! https://lnkd.in/gK_K7S9K