NEA Introduces A Presumption Clause For Littering From Residential Flats
From the proposed implementation date of 1 July 2023, where in any proceedings it is proved that littering acts have been committed from a residential flat, the registered owners (or tenants of the unit, where the whole residential flat is leased), will be presumed to have committed the offence. The presumption can be rebutted by the owner/tenant by proving that he/she was not present in the flat at the time of the offence, by proving that he/she could not have been the offender or by providing the identity of a person reasonably believed to be the offender, to NEA within 14 days of being required to do so.
Who will NEA enforce against if there are multiple owners?
Every registered residential flat owner or tenant (where the whole residential flat is leased) will be subjected to the presumption clause, when a littering act is proven to have been committed from their flat. All flat owner(s)/tenant(s) should bear equal responsibility for preventing littering offences from their flats. They will be given the opportunity and time to prove that they did not commit the offence during investigation of the offence.
Singapore-listed companies required to disclose salaries and payouts to CEOs and directors under new rule
Singapore-listed companies will be required to disclose the exact amount of payouts and salaries paid to their individual directors and chief executive officers in their annual reports. The new rule will take effect for annual reports prepared for the financial years ending on or after Dec 31, 2024.
The information companies need to disclose must include base or fixed salary, variable or performance-related income or bonuses, benefits in kind, stock options granted, shared-based incentives and awards, as well as other long-term incentives.
SGX RegCo believes that the increased transparency will enable investors to assess whether the directors and CEO are appropriately incentivised,” said SGX RegCo, the exchange’s regulatory arm.
Marine industry urged to keep up strong safety practices as recovery continues
The recovery of Singapore’s marine industry has surpassed pre-pandemic levels, with contracts totaling S$20 billion that will take companies till 2025 to fulfil. Revised guidelines have been launched to help the industry keep up strong safety practices, hoping this will also attract more people to join the sector. Clara Lee reports.
Manpower And Increased Costs are Core Challengers For Businesses In 2023
Singapore businesses are approaching 2023 with greater caution as manpower challenges and increased costs emerge as key areas of concern. According to SBF’s latest National Business Survey (NBS) 2022/2023, almost all businesses report facing manpower issues, especially those related to manpower costs and foreign manpower. Wages pose the biggest cost challenge to companies as they compete to attract and retain talent.