Such measures would ensure that Singapore is seen as a natural staging point for trade and investment in the region and beyond, thus reinforcing our position as the Asian business hub of choice.

Lim Kok Hin
Vice-President, Business Imaging Solutions Group
Canon South and South-east Asia

AS we enter a year of greater uncertainty, Singapore's focus on enabling an inclusive society in its Budget becomes critical for business and economic success in 2012. To be able to harness individuals' capabilities to maintain national progress and corporate growth, the government and businesses need to enable Singaporeans to see and realise the shared benefits that working to improve productivity and innovation has for personal, corporate and national ambitions in the long run.

The 2012 budget should include measures to improve the competitive advantage of Singapore companies and equip them to contend well in the global economy. In the corporate arena, talent creation and retention will be particularly central to this process in a challenging economic environment. The upcoming Budget should provide more incentives such as subsidised training programmes and grants for research and development (R&D) and innovation that will help to build and enhance existing workforce capabilities.

Technology will play a key role in enabling businesses to meet the challenges that 2012 will bring. Any measure in the Budget that introduces ideas which will act as a catalyst to help companies embrace technology as a productivity enabler will be welcomed.

The government should also provide greater support for work-life programmes, such as telecommuting and facility enhancement initiatives, which will enable individuals to realise the benefits of increased productivity more immediately, and help companies to retain rather than retrench employees.

Max Loh
Country Managing Partner
Ernst & Young LLP

BUDGET 2012 should enable Singapore to both tide over the short-term economic challenges and stay focused on its long-term strategy as the choice destination to do business. Enhancing productivity across sectors, in particular helping small and medium-sized enterprises (SMEs) to invest in R&D and human capital for sustainable growth, will continue to be key.

There are also opportunities to drive productivity in the accountancy sector in transforming Singapore into a leading global accountancy hub by 2020. The sector can be encouraged to tap into innovation, training and technology to increase efficiency, effectiveness and quality of service.

For example, at Ernst & Young, we leverage cloud computing and shared services centers to enable us to respond to market developments and operational needs faster. We also leverage technology that enables us to deliver the same top quality service consistently to our clients regardless of location.

David Ang
Executive Director
Singapore Human Resources Institute

WHILE Asia is doing presumably well, this is not to say that there is no cause for concern.

Looking ahead to Singapore Budget 2012, many organisations are hoping to see measures introduced to help them manage rising business costs and labour costs, especially amidst the uncertain global outlook.

Organisations also hope to see measures aimed at helping them keep jobs using job credits and avoiding retrenchments.

In terms of helping companies keep jobs, the government's Jobs Credit Scheme was a fantastic option, and it is highly recommended that some changes be made to allow the Jobs Credit Scheme to focus on those who contribute to CPF only. Also, we should try to help older workers to retain their jobs. So perhaps the Jobs Credit Scheme could be expanded with enhanced employer CPF contributions for the more mature workers.

There are also financial incentives allocated for the productivity and innovation initiatives. Perhaps a portion of the financial resources from this pool can be channelled to help organisations cope with rising business costs.

In addition, government can be flexible in extending financial assistance/funding to other training providers which are not under the CET framework. This will help to keep jobs and spur these providers to further promote the CET culture.

Husni Heron
CEO
Seroja Investments Ltd

UNEVEN growth patterns in the US and continued turbulence in eurozone economies, coupled with faltering growth in some of the major Asian economies, have cast a slightly downbeat outlook on the region. The current forecast is increasingly pointing to a soft landing, even for the more buoyant economies.

It is for this reason that we have justifiably seen a downgrade in world economic growth by the likes of the IMF. Such a slowdown will have a trickle-down effect on all sectors, including maritime shipping. This is increasingly evident from the performance of key indicators such as the closely watched Baltic Index.??

As a key regional player in the maritime transportation business for energy and mining resources, Seroja Investments strongly believes that conceptualising and sustaining economic policies and tools that promote domestic demand will counter such a slowdown. Such pro-active policies will boost international and domestic maritime trade.

Tan Hak Leh
Senior Vice-President and Chief Executive Officer
AIA Singapore

IN light of current economic and social developments, there is a need to address Singaporeans' concerns about the cost of living and medical expenses. According to an analysis by the Life Insurance Association (LIA) in 2008, there is an underinsurance gap of more than $300,000 for an average Singaporean. There is indeed increasing awareness among Singaporeans about the need for adequate protection. Perhaps, within the Budget wish list, there could be more government support to spur Singaporeans to take action in closing their underinsurance gap.

Philippe Huinck
Regional Managing Director, South and South-east Asia
International SOS

ON the economic front, the upcoming Budget could adopt a 'remain competitive, remain employed' approach - preserving jobs by keeping the cost of doing business in Singapore attractive. This will help Singapore stay competitive amid the economic uncertainties, while letting its workforce stay employed.

On the social front, the Budget should not lose sight of the lower income group and the disadvantaged, who will need help especially in difficult times - though there is still a need to balance this with the national ethos of self-reliance.

In our business area (providing medical, security and concierge services), we require a broad spectrum of skill sets. I hope that the Budget will set aside funds to train Singaporeans with the relevant skills to meet our industry needs. This will support the expansion of our headquarters here, which will in turn enable us to offer more jobs in the market.

My wish for Singapore is for its people to keep their dreams alive, as well as stay united and focused on their goals despite darker economic clouds ahead. This will ensure that they emerge stronger and more resilient for whatever the future may bring.

Annie Yap
Managing Director
AYP Associates Pte Ltd

SINGAPORE'S economy is predicted to grow by 1.0 to 3.0 percent in 2012, the growth next year is likely to slow due to the weakness in the western economies. As the uncertainty from the global economy increases, the Singapore government will need to invest and spend to stimulate the economy. As SMEs are in a more vulnerable state, I hope that the government can focus on coming up with business support programmes to facilitate the development and growth of SMEs.

From the 'Singaporeans first' perspective, I also hope that housing, education, jobs and health care for our local citizens can further be enhanced.

Low Lee Yong
CEO/Founder
MHC Medical Network

IN the current economic crisis, businesses and individuals may attempt to cut down on healthcare expenses to the detriment of our long-term well-being. The cap on the employer's tax deduction for employees' medical benefits should be removed and more incentives in the form of tax benefits or grants should be introduced to encourage SMEs to help its workers stay in health.

The independent general practitioners (GPs) are the pillars and gatekeepers to contain escalating healthcare costs. The health budget should focus more on promoting primary care, step-down care and home care services, and less on specialised tertiary care which will only drive up healthcare costs further.

The biggest challenge for Singapore in the longer term is the silver tsunami which needs to be addressed urgently and effectively. We have to promote procreation by providing subsidies for infertility treatment, delivery and childcare to help both working and non-working mothers. We also have to start educating our children on the joy of parenthood

in schools.

Lothar Herrmann
President & CEO
Siemens Pte Ltd

THERE is no doubt that Asia is increasingly becoming the driver of global economic growth. Singapore should do all it can to take advantage of this growth by further enhancing its attractiveness as a gateway to Asia.

Thus, the Budget for 2012 should encourage global and local businesses to set up and/or keep their bases here to reach out to other parts of Asia. In addition, the Budget should also include a strong emphasis on talent management, not just in the area of training, but also in attracting highly-skilled talent.

Today, many booming Asian cities offer great job opportunities and a very high standard of living at a comparatively low cost. A large part of improving the standard of living is related to improving public infrastructures. As a company that has been heavily involved with building the public infrastructure in Singapore, Siemens certainly hopes that the Budget will include significant investments in upgrading key public infrastructures to bring about more convenience and efficiency to Singapore.

And as we improve these infrastructures, let's not forget to do our part for the environment too. I hope that the government will take the lead in adopting environmentally-friendly practices, and factor into the Budget measures to encourage and reward companies that go the green way.

Lynne Ng
Regional Director
Adecco SEA

AS someone involved in helping put Singaporeans to work everyday, my wish is for a Budget that keeps people working and that encourages workplace productivity. The Jobs Credits Scheme was very helpful to families during the recent financial crisis and would continue to be welcomed by those that may face possible retrenchment.

I would also like to see Budget considerations for training, and further measures to support companies to train or re-train employees to equip them with relevant workplace skills for the future. This is especially important in light of the fact that Singapore's working population is rapidly ageing.

Teng Yeow Heng Michael
Managing Director
Corporate Turnaround Centre Pte Ltd

MY wish list for the Budget is aimed at cushioning the effects of the economic slowdown, and is as follows:

Andrea Ross
Managing Director (Singapore & Malaysia)
Robert Walters Singapore

LAST year's Budget 2011 included the 'Grow and Share' package to help Singaporeans cope with rising expenses, as well as social initiatives to help the elderly. Ideally, this year's Budget should include similar expenditure to help the underprivileged even further. Those who have fallen through the cracks will appreciate whatever help the government can extend to them.

In light of the troubled European and US economies, the spotlight has shifted to the growth potential of Asia. Multinational companies are hoping to further their growth and expand within Asia; and SMEs are hoping to do the same in the region. The job market and recruitment industry will therefore benefit from initiatives designed to help businesses to grow. For example, the tax rebates, Enterprise Development Fund and foreign tax credit pooling are positive initiatives from last year that should also be incorporated into this year's Budget.

Annie Koh
Associate Professor of Finance
Dean, Office of Executive & Professional Education
Financial Training Institute
Academic Director, International Trading Institute@SMU
Singapore Management University

I'VE just spoken at this year's World Economic Forum in Davos, and the consensus was that the world cannot continue to grow on two tracks - an increasingly slower developed world and a faster bloc of emerging markets.

So likewise for our coming Budget, there is a need for much greater give and take to help the lowest 20 per cent of our population - not in handouts, but through skills upgrading and an opportunity to have dignity in livelihood and affordable health care and education. The time for more grants and rebates have come.

There is a need for greater collaboration of the larger companies with smaller companies so that the latter have space to grow. It will be great if the Budget provides for entrepreneurship development in the form of grants that support coaching and mentoring of our entrepreneurs working hand in hand with larger global companies based in Singapore.

As reiterated in this year's Davos meetings, everyone is looking for a transformation but nobody really knows what the transforming agents look like. But the end point is a better world where diverse voices are represented. Likewise for Singapore's Budget, we may need to assist and boost different components of our economy without knowing definitely what the final impact will be. But you will never know if you don't try.

Toby Koh
Group Managing Director
Ademco Security Group

2012 looks to be a challenge on the economic front. My wish list for Budget 2012:

Paul Endacott
Managing Director - Singapore
Ambition

DESPITE the uncertainty that lies ahead in 2012, companies operating in Asia must be encouraged to adopt a long-term approach to their talent strategy. The Singapore government can play its part with Budget stimulus packages that promote training and development, encouraging employees to upgrade their skills so that organisations are better prepared for when the economy improves.

We have also recently worked with clients who have benefited from the government's incentives to relocate their company headquarters to Singapore, leading to job creation. Anything that can be done to improve this further in the Budget will be highly beneficial to the local economy.

Patrick Liew
CEO
HSR Property Group

AS we face challenging times both in the global as well as the local economies, my concern is for those who are lagging behind and those who have fallen between the socio-economic cracks. We need to focus on helping the jobless with retraining and job search and redeployment.

In view of rising costs, I hope that we can provide rebates for basic food items and services.

The task of helping the neediest should not just fall on the government's shoulders. We need to foster the growth of more social enterprises such as Dignity Kitchen that will apply entrepreneurial skills to help them stand on their feet and fend for themselves.

Despite the challenging times, we need to invest in innovative efforts and to capitalise on opportunities in such times to resolve our social needs. We will never be a great nation if the people of Singapore do not join hands to help the less fortunate among us. The FY2012 Budget can be a catalyst for such a nation-building thrust.

Sam Yap??S G
Group Executive Chairman??& Co-Founder
Cherie Hearts Group International Pte Ltd

I AM personally anticipating this year's Budget to help ease business expenditures through measures such as corporate tax rebates, due to the potential decline in the economy.

I also expect 'carrots' for smaller firms to encourage them to engage less-skilled workers as well as older workers.

Looking at the education industry, I am hoping for some sort of inducement plan from the government to encourage scholastic bodies to enforce bilingualism into more programmes.

In general, I am very optimistic of this year's Budget.

R Dhinakaran
Managing Director
Jay Gee Enterprises Pte Ltd

THE Budget in 2012 hopefully will strengthen the efforts over the years to make Singapore an attractive business destination. The global economic conditions perhaps make it more challenging to make it pro-business. Our challenges on the social front of an ageing population and limited availability of workforce are other areas which will need budgetary help and financial incentives to attract investments from business.

I would prefer to have the Budget focus on development of talent and upgrading of skills for Singaporeans of all ages. The government should continue to encourage businesses to invest in training and development, and maintain high employment to ensure that consumption power is not drastically dropping within Singapore.

While the GST system in Singapore has worked well, I feel that essential sectors such as health care should be given a special status of no GST to assist older Singaporeans who are unfortunately at a disadvantage with rising inflation.

While the rising costs of doing business hurts Singaporean companies, a lower corporate tax benefit will offset this disadvantage and continue to attract interest from global companies.

Lim Soon Hock
Managing Director
Plan-B ICAG Pte Ltd

OUR SMEs will continue to need help, more so in the light of the current economic and social developments. More funding should be made easily available for working capital, to help SMEs manage the expected strain on cash flows.

In this regard, apart from re-introducing or continuing with the financing schemes that were introduced in the last financial crisis of 2008, perhaps it may be worthwhile for the government to relook some of the terms and conditions which are incongruent with our economic goals and financing objectives.

As an example, I understand that bridging loans are available from our government agencies; however they are only for the purchase of factories and machinery, ie hard fixed assets. If an IT or software company needs bridging loans for expansion, intellectual property is not considered an asset, and therefore, does not qualify for bank loans and government underwriting. This is clearly at odds with promoting our indigenous IT industry and making Singapore a centre for intellectual capital.

My wish, therefore, is not for the introduction of more funding schemes, but liberalising existing or enhanced schemes for deserving SMEs, in the light of the impending economic slowdown.

It would be in the long-term interest of Singapore, when we can help promising SMEs ride out the next economic slowdown, to ensure that our plan to produce 1,000 SMEs with at least $100 million in revenues will stay on track.

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd

UNLIKE in 2011 when the economy was still relatively buoyant, there is now a lot of talk about the economy hitting roadbumps this year. In view of this, I believe that salaries may either stay stagnant or the unemployment rate may even go up slightly. Thus, households will need more help than last year. The 2012 Budget should therefore focus on providing more support for lower-income households, families with children, and senior citizens in the form of additional funds, grants and rebates. I would also like to see more healthcare funding for the aged and needy.

Economic recessions will always come and go. Training initiatives must be ongoing even during the good times and not emphasised only in a downturn. Putting it into context for the situation at hand, the bigger picture must be to help companies stay above water in order to save jobs, and curb potential hardship. The Jobs Credit Scheme that was introduced in 2008 is testimony of how companies and people can be helped collectively. However, I believe that the scheme may be moderated somewhat because what some industries deem a 'bad' time may actually be good for others.

Yaj Malik
Area Vice-President, Asean
Citrix Systems

WITH enterprises in Singapore still coming to grips with the recent economic uncertainties, the forthcoming Budget needs to focus on helping these enterprises stay competitive and relevant by raising productivity, promoting efficiency and attracting

top talent.

One way is to encourage the adoption of technologies such as cloud computing and virtualisation in day-to-day operations to help promote workplace mobility - a key requisite in today's inter-connected markets. In this regard, the continued enhancements to the Productivity and Innovation Credit scheme to aid new technology adoption are definitely steps in the right direction. However, the scheme can be improved by including an increase in the amount of cash incentives for companies adopting enterprise mobility strategies or promoting technology skills-upgrading for their employees to manage new technology solutions, such as cloud computing.

Dhirendra Shantilal
Senior Vice-President - Asia-Pacific
Kelly Services

IN view of the increasingly competitive environment in Asia-Pacific, Singapore's 2012 Budget must, above all else, encourage Singaporeans to embrace the concept of key talent. Human capital, our only real resource, has to be of outstanding calibre, for us to be able to stand toe-to-toe with the rest of the emerging markets. Branding ourselves on the world's stage will require an all-encompassing initiative towards nurturing a home-grown 'A-team' of specialists. This however, has to start with education, as the current economic and political environment is no longer satiated by cookie-cutter scholars and academics. Our education system must push towards producing independent thinkers, entrepreneurs and out-of-the-box creativity to continue being on the cutting edge. Of note also is the need for a stronger lean towards leadership training and nurturing.

The 'Boosting Skills and Productivity' and 'Encouraging Employment of Older, Low-wage Workers' drives of last year's Budget must also be followed through, to ensure that no Singaporean is left behind. When the need to cultivate key talent is fully realised, only then can Singapore be a true hub, of outstanding human resource capabilities.

Dora Hoan
GROUP CEO
Best World International Ltd

THE Singapore 2012 Budget needs to deal with key issues that Singaporeans and businesses struggle with (an ageing workforce), and provide support for local businesses. Apart from developing a culture that values older employees instead of undermining their experiences and capabilities, setting aside funds for initiatives encouraging the employment of senior workers is imperative.

In addition, continuing education and training schemes will allow senior workers to upgrade themselves and remain competitive. Local businesses can receive a huge boost through grants that encourage increasing productivity, an important factor in combating the slowing economy.

As Singapore is expecting more babies in the auspicious Dragon Year, incentives for births should be topped with a lowering of levies on foreign domestic workers to alleviate stress on couples juggling working and caring for their children.

Joshua Yim
CEO
Achieve Group

AT this juncture, an economic slowdown is imminent. The 2012 Budget ought to include some assistance schemes to help companies stay afloat in order to prevent the loss of jobs should a recession indeed strike. These could be in the form of facilitating business loans through Spring Singapore to tide companies over during the tough times.

As for my Budget Wish List that is specific to our recruitment industry, I would like to see the government develop certain schemes or mechanisms targeting SMEs that aspire to hire top talent but may not have the financial means to do so. It could entail offering incentives for these firms to either engage these top talents directly or to use professional headhunting companies to secure the best talents available. With the best talent onboard, these SMEs can grow stronger and have a better standing in order to compete on the international stage.

David Leong
Managing Director
PeopleWorldwide Consulting Pte Ltd

DOMESTICALLY, I hope to see the Budget feature more incentives, through tax rebates and concessions to improve productivity and innovation - this will have a collateral effect of reducing unemployment.

As Singapore is greying at a faster clip, I hope that the government can create more programmes to cater to the silver generation, and to have incentives for employers to hire these elderly workers.

It is true that our manpower quantitative easing (QE) led to strong growth in previous years. Instead of using dollar liquidity to fuel and stimulate growth, Singapore did this through labour easing. A one-dimensional application of quota-based foreign labor rule may not cater to our context now. The Manpower Ministry must recognise that not all jobs are equal and not all jobs are equally demanded. There are a list of jobs, notwithstanding a great extent of job redesign and productivity gain through innovative mechnisation or automation, they will not attract Singaporeans. ??Some of these jobs are in construction, offshore and marine and even service sector covering shifts, nights and public holidays.

If the government can tweak existing policies and instead of using a tiered levy format based on number of foreigners which will raise manpower cost across board, the Ministry of Manpower can consider other dependent variables such as the number of elderly workers in the company's CPF. If employers are to craft hiring policies to include more Singaporeans, or aged workers, there must be incentives to do so. If the hiring of foreigners quota can be enhanced as a result, I am certain that employers will take a renewed look at their basket of workers and hire based on needs, merits and performance.

This tweaking of the dependency ratio to a set of variables linked to performance will be a good incentive for employers.

Labour adjustment is difficult but without requisite labour in today's context, businesses will suffer. The Budget should seriously consider the effect of levy on employers.