Newsroom news releases - Ernst & Young - Singapore

News releases

Recent global and Singapore news releases issued by Ernst & Young.

November 2009

• International SOS chief, Arnaud Vaissié wins top honor as Ernst & Young Entrepreneur Of The Year 2009 Singapore (pdf, 152kb)
  Singapore, 18 November 2009
  Arnaud Vaissié, Chairman and Chief Executive Officer of International SOS has been honored as Ernst & Young Entrepreneur Of The Year (EOY) 2009 Singapore. This was announced at the Ernst & Young EOY awards gala, held at The Ritz-Carlton, Millenia Singapore this evening. 
• Investor-led changes – largely implemented and hugely beneficial, say hedge fund managers (pdf, 91kb)
  Singapore, 9 November 2009
  The global downturn forced hedge fund managers to respond swiftly and radically to the demands of investors, finds a new survey published today by Ernst & Young.  
• China, technology and private equity to drive IPO activity in 2010 (pdf, 90kb)
  Singapore, 6 November 2009
  The Ernst & Young Institutional Investor IPO survey 2009, highlights the likely markets and sectors that will lead listing activity in 2010. The survey, based on responses from more than 300 institutional investors across the world, found that China, technology and private equity are likely to drive IPO activity over the next 12 months.  
• Global corporates looking to invest heavily in cleantech – Ernst & Young (pdf, 99kb)
  Singapore, 5 November 2009
  Despite ongoing uncertainty about the global economic situation, spending by the world’s biggest companies to develop or acquire cleantech solutions is robust and primed to accelerate, according to a new Ernst & Young survey of more than 300 corporate executives worldwide. 

October 2009

• No dramatic swings in total compensation levels for senior executives in Singapore in Financial Year 08 (FY08) (pdf, 95kb)
  Singapore, 27 October 2009
  Singapore companies have taken a moderate approach to total remuneration for executive and board, with the number of Chief Executive Officers (CEOs) who had received packages above S$5 million declining in FY08 as compared to a year ago, according to Ernst & Young’s 2009 executive and board remuneration report, Responding to realities, released today. 
• IPO activity rebounds in Q3 driven by Chinese listings – Ernst & Young (pdf, 91kb)
  Singapore, 6 October 2009
  A succession of billion dollar plus Chinese IPOs helped drive the total value of the IPO market in Q3 to US$37.8billion: the highest amount since Q2 2008 and an increase of 292% on Q2 2009. 
• Boardroom must ask tougher questions to maintain companies’ financial reputation, says Ernst & Young (pdf, 86kb)
  Singapore, 5 October 2009
  Boards and audit committees should be asking tougher questions of management to fully understand the controls they have in place and the changes they propose to make to risk functions and their attitude towards fraud, says Ernst & Young in a new report published today. 

September 2009

• Growing transfer pricing scrutiny by world’s tax authorities demands focus on anticipating undisclosed risks for multinationals (pdf, 99kb)
  Singapore, 29 September 2009
  Multinationals are facing new tax risks due to a growing number of authorities adopting divergent transfer pricing (TP) requirements, according to a new Ernst & Young survey examining the approaches and attitudes of tax authorities in 49 countries. 
• Economic downturn continues to bring challenges to gaming sector (pdf, 81kb)
  Singapore, 25 September 2009
  The worldwide credit crunch, a plunge in revenues and a fall in share prices are causing severe stress for many gaming companies, according to
  Ernst & Young’s Reviewing the market: the 2009 global gaming bulletin. 

August 2009

• Dale Nijoka to lead Global Oil & Gas practice at Ernst & Young (pdf, 80kb)
  Singapore, 20 August 2009
  Ernst & Young has appointed Dale Nijoka to lead its Global Oil & Gas practice. Nijoka has spent more than 28 years working within the Oil & Gas sector at
  Ernst & Young with a wide range of international clients. 
• Misaligned and fragmented risk functions jeopardizing organizations’ performance – Ernst & Young study (pdf, 82kb)
  Singapore, 17 August 2009
  Ninety-six percent of organizations believe they have an opportunity to improve their risk management functions. 

July 2009

• Financial services: no return to growth until first half of 2010 at the earliest (pdf, 88kb)
  Singapore, 6 July 2009
  The majority of global financial services companies expect no return to growth until the first six months of 2010 or even later, according to new Ernst & Young research published today. 

June 2009

• Impact of financial crisis poses greatest threat to insurance industry (pdf, 78kb)
  Singapore, 23 June 2009
  The impact of the financial crisis is the most significant risk facing the insurance industry, according to a new report by Ernst & Young. In the Second annual business risk report – insurance 2009, model risk and regulatory intervention rank second and third among the top ten risks. 
• World’s largest oil companies to deliver over US$375bn of investment this year despite oil demand concerns (pdf, 94kb)
  Singapore, 3 June 2009
  The world’s largest National Oil Companies (NOCs) and supermajors are planning on delivering in excess of US$375bn of ambitious investments through the down cycle, despite ongoing concerns around oil demand, according to new analysis from Ernst & Young.

May 2009

• Fuyao Glass Industry Group’s Cao Dewang named Ernst & Young World Entrepreneur Of The Year 2009 (pdf, 87kb)
  Monte Carlo, 31 May 2009
  Cao Dewang, Chairman of Fuyao Glass Industry Group, has been named the
  Ernst & Young World Entrepreneur Of The Year 2009 at an awards ceremony held in Monte Carlo. 
• Islamic funds growth stalls but investable assets grow, says Ernst & Young (pdf, 96kb)
  Singapore, 29 May 2009
  The 3rd annual Ernst & Young Islamic Funds & Investments Report (IFIR 2009), released on 25 May 2099 at the World Islamic Funds and Capital Markets Conference states that Shari’a sensitive investable assets in 2008 in the GCC and Asia touched US$736 billion as compared to US$267 billion in 2007 (in computing the total asset size this year, the report included Awqaf and Endowments, Takaful operators in Malaysia, SWFs in the MENA region and Asia, and it also includes the markets of Pakistan and South East Asia - all of which where not included in last year’s figures). 
• Search for Ernst & Young Entrepreneur Of The Year 2009 Singapore begins (pdf, 112kb)
  Singapore, 15 May 2009
  Leading professional services firm, Ernst & Young, today launched the nominations for its eighth annual Ernst & Young Entrepreneur Of The Year (EOY) awards at a luncheon held at The Ritz Carlton, Millenia Singapore. 
• Securing the present takes precedence as companies find opportunities in adversity (pdf, 98kb)
  Singapore, 11 May 2009
  Securing the present is the top priority for companies over the next 12 months as they navigate through the current global downturn, according to Ernst & Young’s Opportunities in adversity survey report.
• Tax policy plays a vital role in economic stimulus activities (pdf, 84kb)
  London, 8 May 2009
  As the world economy seeks firm footing amid the first true global recession since World War II, more and more countries are turning to discretionary fiscal stimulus to boost overall demand and restart the flow of credit to companies. 
• Ernst & Young Asean art outreach program presents Malaysian artist Chong Siew Ying’s first exhibition devoted to animal paintings (pdf, 201kb)
  Singapore, 7 May 2009
  The fourth series of the Ernst & Young Asean art outreach program presents Malaysian artist Chong Siew Ying and her first exhibition of animal paintings titled Frame of mind. 

April 2009

• Failing to demonstrate value of innovation is top risk facing life sciences sector, according to Ernst & Young (pdf, 95kb)
  Singapore, 27 April 2009
  Government and private insurers are placing unprecedented pressures on life sciences companies to demonstrate value for the products they develop, according to The 2009 Ernst & Young business risk report, Life sciences.  
• IPO activity continues to slow with just 50 IPOs worldwide in Q1 2009 (pdf, 91kb)
  Singapore, 7 April 2009
  Global IPO activity continues to stall, according to Ernst & Young’s first quarter Global IPO update. A total of 50 IPOs worldwide raised just US$1.4 billion in capital between 1 January and 31 March 2009. 

March 2009

• Back to basics approach needed for real estate companies to emerge stronger from the economic crisis (pdf, 93kb)
  Singapore, 30 March 2009
  It is no surprise that the continuing economic uncertainty throughout world markets and the lingering impact of a global credit crunch are seen as the greatest risks faced by real estate companies. 
• Loss of client to new market entrants is biggest risk for telecoms sector in 2009 (pdf, 99kb)
  Singapore, 25 March 2009
  Losing ownership of the client to non-traditional players is the biggest risk for the telecoms sector this year, according to the 2009 Ernst & Young Telecoms business risk report. 
• New approaches to divesting are required to secure value at a time of economic volatility (pdf, 104kb)
  Singapore, 17 March 2009
  Unprecedented economic volatility means that the "accepted" divestment norms no longer apply, according to a new Ernst & Young report. Companies now need to think more creatively, prepare more carefully, act more decisively and with greater flexibility to ensure their deals are successful – and all within a timeframe over which they have little control. 

February 2009

• Survey finds "goodwill" accounts for almost half of enterprise value in acquisitions (pdf, 89kb)
  Singapore, 20 February 2009
  High percentage places companies at risk of impairment in turbulent times. 
• Insurers face unprecedented challenges and opportunities in 2009, Ernst & Young anticipates (pdf, 87kb) 
  Singapore, 4 February 2009
  Due to the global financial crisis, which has brought unprecedented challenges to the insurance industry in Asia, many insurance companies in 2009 will need to focus on developing new products and services to better manage costs, according to Ernst & Young’s Far East Outlook for the insurance industry.
  

January 2009 

• Strategic opportunities for oil and gas transactions in 2009
  London, 26 January 2009
  The volatility in oil prices and overall financial markets created a year of two halves for the global oil and gas industry.
  Buoyed by a high oil price environment, in the first half of 2008 oil and gas deal activity was strong. However, the slowdown in the global economy resulted in fewer mergers and acquisitions (M&A) in the second half of 2008 resulting in 1,094 deals for 2008, down 29% from the record level set in 2007. The total value of oil and gas transactions for 2008 was US$179bn.
• Ernst & Young's reactions to budget 2009 (pdf, 125kb) 
  Singapore, 22 January 2009
  Overall budget reaction. 
• Outsourcing virtually a pre-requisite for new entrants into Asian telecoms market
  London, 15 January 2009
  New entrants into the Asian telecoms markets may find they need to enter into outsourcing agreements if they are to be competitive, according to a new report by the Ernst & Young Global Telecommunications Center, Asia Calling – Outsourcing for cost optimization (pdf, 1.41mb), which brings together the views of 13 senior telecoms executives in key Asian markets.
• Ernst & Young welcomes prospect of a global accounting language but warns that 2009 will be a critical year for IFRS
  London, 12 January 2009
  Ernst & Young welcomes the fact that, despite a difficult year for companies and global economies, the major capital markets of the world are moving ever closer to adopting International Financial Reporting Standards (IFRS) as the globally recognized accounting language. But 2009 will be a critical year in this process, and the challenges now faced must not be allowed to derail the significant progress made to date.
• Ernst & Young budget wishlist 2009 (pdf, 109kb)
  Singapore, 5 January 2009
  Tax for sustainability.