April 2017

Asia Newsflash

Escape the tiger and fall to the giant panda? SouthKorea’s political crisis continues to unfold with the unanimous impeachment of President Park Geun-hye. Experts have warned that the resolution of the impeachment crisis leaves significant uncertainties open for the nation. On the economic front, a dampening of consumer spending, higher household debts and industrial restructuring meant that things were far from rosy. The retail and accommodation, entertainment and gaming sectors will be heavily impacted with economic sanctions from China in the recent months.

Payment scales in Singapore remain tipped as SMEs turned in a mixed performance for Q1 2017. The quarterly study released by Singapore Commercial Credit Bureau showed that improvements in manufacturing and retail sectors were offset by a deteriorating payment performance within the construction sector. A favourable windfall is likely to be experienced by the Australian economy according to its latest business expectations survey. Sales, capital investments, profit and selling price expectations are trending higher, mainly driven by recent governmental moves to reduce the company tax rate.

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