• Share


Max Loh Welcome

Tension in the Eurozone may have eased but uncertainty remains and continues to have far-reaching impact on the global economy and businesses. This issue, we present two reports focusing on the latest developments in the Eurozone, and how issues such as increasing regulations are affecting the outlook for the financial services sector.

We also look at the performance and challenges confronting some of the key industries in 2012 and beyond. Our report on real estate investment trusts show that around the world, the sector is showing signs of recovery but raising capital can still be difficult. For pharmaceutical companies, they are facing pressure to achieve sustainable shareholder value and growth through M&As.

Closer to home in this region, private equity activity is on the rise. According to our Asia-Pacific private equity outlook for 2013, there is an increasing shift in interest and investment strategy to Southeast Asia.

Lastly, join us at our upcoming events as we share in-depth perspectives on the 2013 Budget proposals, and our views on integrated reporting, among others.
Please continue to send us your feedback and business requirements. Contact us here.

With this, I wish you happy new year and a pleasant read.

Thank you.

Max Loh
Country Managing Partner
Ernst & Young LLP


Thought leadership publications
Eurozone Forecast: Winter edition - December 2012 Eurozone Forecast
Winter edition - December 2012

Low growth numbers, uncertainty of the survival of the Euro and high unemployment lies ahead. Even though uncertainty clouds the Eurozone, great progress has been made in securing the near-term future.
Eurozone Forecast: Outlook for financial services - Winter edition - 2012/2013 Eurozone Forecast: Outlook for financial services
Winter edition - 2012/2013

While the threat of an imminent breakup of the Eurozone may have eased, the policy mix is now shifting from austerity to growth but more action is needed to improve business confidence. What do these mean for financial services organizations?
Global perspectives - 2012 REIT report Global perspectives
2012 REIT report

Across markets, the best-performing REITs are better capitalized, have more financing options, own better-quality assets and have less risk exposure. This report compares six major global REIT markets and offers ground insights.
Asia-Pacific Private Equity Outlook 2013 Asia-Pacific Private Equity Outlook 2013

Private equity activity continues to rise in Asia-Pacific. Southeast Asia looks particularly promising. At the same time, industry players need to be aware of competition from strategic corporate acquirers and changing regulations in some markets in order to succeed.
Closing the gap? - Big pharma's growth challenge and implications for deals Closing the gap?
Big pharma's growth challenge and implications for deals

Top pharmaceutical companies are facing a widening "growth gap" that will increase pressure to drive growth through M&A. But their attempts to make deals will be challenged by diminished resources and fiercer competition.
Dynamics: Issue 6, December 2012 Dynamics
Issue 6, December 2012

Development assistance remains integral to addressing the diverse challenges faced by developing countries. This report analyzes how it can be made more effective.

Regular publications
Board Matters Quarterly Board Matters Quarterly

This edition lays out questions audit committees should consider asking as they prepare for their upcoming discussions with management and the external auditors.
Click here to access the current and past issues.
Spotlight on Business Spotlight on Business

Uncertainty looks to be a constant of life. As the business and economic landscape evolves, what will it mean for information security, IPOs, productivity and your capital agenda?
Click here to access the current and past issues.
You and the Taxman You and the Taxman

Read about common issues in tax incentive reporting, tips on overcoming tax return mistakes and how the M&A scheme can be enhanced.
Click here to access the current and past issues.

Events calendar
Here are highlights of some of our upcoming events. For the full list of events, please click here.
Integrated Reporting Roundtable - Wednesday, 23 January Integrated Reporting Roundtable
Wednesday, 23 January

Integrated reporting is a process that helps to close the gap between what companies are doing and what they are reporting. It involves a concise communication about how an organization's strategy, governance, performance and prospects lead to the creation of value over short, medium and long term.

At this roundtable, meet Mr. Paul Druckman, CEO, International Integrated Reporting Council, UK, as we discuss integrated reporting, how it will develop as part of corporate reporting, and the challenges companies are facing. For more information, email Tan Chee Wee.

By invitation only.

EY Asean Art Outreach program: Natri Puja - Thursday, 30 January to Friday, 31 May EY Asean Art Outreach program:
Natri Puja

Wednesday, 30 January to Friday, 31 May

Our Asean Art Outreach program presents its 13th show, featuring Myanmar artist, Nay Myo Say in his latest exhibition, Natri Puja, a Pali phrase meaning worshipping the Buddha with art.

The exhibition runs from 30 January to 31 May in our office gallery at One Raffles Quay. The paintings are for sale. A portion of the proceeds will benefit three charities in Singapore as part of our corporate responsibility program.

Public viewing of the exhibition is by appointment only. Call +65 6535 7777 to make an appointment at least three days in advance.

If you have further enquiries or wish to update your personal particulars or be added to our mailing list, please contact us



Assurance | Tax | Transactions | Advisory

About EY
EY is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 167,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

EY refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit

© 2012 EY Solutions LLP. All Rights Reserved.
FEA No. 12000398. ED 01 14.

EY Solutions LLP (UEN T08LL0784H) is a limited liability partnership registered in Singapore under the Limited Liability Partnerships Act (Chapter 163A).

This e-newsletter contains information in summary form and is therefore intended for general guidance only. It is not intended to be a substitute for detailed research or the exercise of professional judgement. Neither EY Solutions LLP nor any other member of the global EY organization can accept responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this e-newsletter. On any specific matter, reference should be made to the appropriate advisor.