Singapore’s efforts to promote the employment of nationals has done little to alleviate the concerns of employers in the city, with 47% saying that they are ‘extremely concerned’ about the talent shortage, according to a story in the Singapore Business Review (SBR).
The article cites research by Alexander Mann Solutions that says the main concern among 35% of respondents is the lack of available candidates. Hardly surprising, SBR says, given that it is estimated that 200,000 Singaporeans live and work abroad.
The other worries include lack of technical competency or ‘hard skills’ (29%), employability skills (28%) and lack of experience (17%).
Alison Baird, managing director APAC for Alexander Mann Solutions, says, “The talent gap is worsening, but there is a pool of relatively untapped talent out there.”
A new survey of 1000 Singaporeans by HSBC reveals that six out of ten plan on semi-retirement if they have not already achieved this.
Those who plan to semi-retire expect to do so at the age of 57, before retiring from all paid employment at 60, according to an article in the Straits Times.
But one third of the respondents said they cannot afford to retire fully, with 17% expecting to work their entire lives.
Reuters reports that Indian banks may tap international markets to supplement their regulatory capital, potentially paving the way for Asia’s first US dollar issues of Tier 1 securities under the new Basel regime.
Overseas capital raising would ease some pressure on the government, which has pledged Rs140bn (US$2.21 billion) of fresh equity to state-owned banks.
Fierce competition for IPO banking business led to a showdown between two rival banks in Hong Kong earlier this month.
Reuters reports that at a routine meeting of around 20 underwriters to China Huishan Dairy Holdings’ planned US$1.3 billion IPO, tempers flared between two bankers from HSBC and Goldman Sachs.
The argument escalated, and one of the bankers threatened to have his counterpart fired.
Chinese companies are putting pressure on banks to woo ‘cornerstone’ investors, and are increasing the incentives to banks that bring them in before the IPO.
Bloomberg says that Deutsche Bank has won an appeal overturning a Singapore ruling ordering it to pay former client Chang Tse Wen US$49 million for negligence in advising him on his investments.