7 in 10 business leaders in Singapore distrust financial forecasts


Most business leaders and finance and accounting professionals in Singapore lack confidence in financial forecasts, according to research by Blackline, Inc.
The study found out that 70% of professionals from Singapore lack confidence in the accuracy of the financial data used for financial analysis and forecasting.
“The findings suggest that while businesses now recognize the critical role financial data has to play in informing business strategy and continuity, poor visibility and a lack of access to real-time data is hindering companies’ ability to respond to volatile market changes,” Blackline said.
The study was conducted by independent researcher Censuswide and examined the impact of COVID-19 on a randomly selected sample of large organizations. Around 1,300 business leaders and F&A professionals were surveyed in seven markets (US, Canada, UK, Germany, France, Singapore, and Australia), of which 152 are from Singapore.
There’s nothing shameful about shopping—it’s a fun pick-me-up, and a therapeutic way to blow off pent-up steam. But how do you know when your shopping habits have veered into unhealthy territory? At what point is the debt you’re carrying totally avoidable? Read on to see if you show signs of an unhealthy spending problem.
The Singapore Tourism Board saw an 85.7% decrease in visitor arrivals in 2020. The tourism industry is on its way to a gradual recovery, following a sharp downturn caused by the COVID-19 pandemic and the implementation of a nationwide circuit breaker. According to the data from the Singapore Tourism Board (STB), Singapore saw an 85.7% decrease in visitor arrivals in 2020 whilst tourism receipts fell 78.4% in the first three quarters of the same…
The project would supply up to 20% of Singapore’s electricity needs. Singapore-based Sun Cable and the Australian Northern Territory Government (NTG) have signed a project development agreement for the Australian-ASEAN Power Link (AAPL), which would see the territory hosting one of the largest renewable energy systems across the globe. Expected to reach a financial close in 2023, the AAPL will first supply electricity to Darwin by 2026 and…
South Korea returned to first place in the latest Bloomberg Innovation Index, while the U.S. dropped out of a top 10 that features a cluster of European countries.Korea regained the crown from Germany, which dropped to fourth place. The Asian nation has now topped the index for seven of the nine years that it’s been published. Singapore and Switzerland each moved up one spot to rank second and third.
Loss of revenue attributed to a halt in construction activities. Sustainable engineering solutions provider Koh Brothers Eco Engineering Limited reported a drop in revenue to $182.3m for FY2020 from $290.6m a year ago, a decrease of 37%. According to Koh Brothers Eco, the revenue loss was mainly due to a halt in construction activities during the circuit breaker period, which resulted in a decrease in revenue from its Engineering and…
This comes amidst speculative activities in the US stock market. The Monetary Authority of Singapore (MAS) and the Singapore Exchange Regulation (SGX RegCo) have advised the investing public to be on a heightened alert to the risks related to trading in securities incited by online discussion forums and social media chat groups. In a joint statement, the agencies have noted investor interest in Singapore in recent activities in US markets…
The term loan is said to be the largest in the Asian technology sector. Ride-hailing and food delivery giant Grab announced that it has closed its first senior secured term loan facility worth $2.66b (US$2b) as it expands its services in Southeast Asia. The loan was upsized from the principal amount of $998m (US$750m) after the company secured commitments from investors. “I am deeply encouraged by the trust placed in us by investors who believe…
Singapore signaled that local banks and borrowers should move away from using the discredited London interbank offered rate to price financial products this year, even after global Libor authorities looked to delay its retirement.
STB’s SingapoRediscovers Vouchers scheme has netted $35.9m since 1 January. Despite hope for vaccines coming into play this year, the Singapore Tourism Board (STB) still expects tourism arrivals and receipts to remain weak in 2021. “Even with the development of several vaccines, it will take time for mass leisure travel and traveller confidence to return,” STB said Because of several restrictions put in place by the government to combat the…

Comments are closed, but trackbacks and pingbacks are open.