Pestle Analysis of Banks in Singapore

Malayan Banking Berhad is the holding company and listed entity for the Maybank group with branches in Malaysia, Singapore and other international financial centres such as London, New York, Hong Kong and Bahrain. Maybank was established in 1960, and today is the largest company by market capitalisation on the Malaysian Bourse. It is ranked first among listed Malaysian companies and among the top 500 companies in the Forbes Global 2000 leading companies of the world. The Maybank group offers a comprehensive range of products services that includes commercial banking, investment banking, Islamic banking, offshore banking, leasing and hire purchase, insurance, factoring, trustee services, asset management, stock broking, nominee

It is also easy for many other companies to set up headquarter in Singapore as their starting point in Asia to make it possible to reach to its market point. In addition, Singapore is unique in different lifestyles and culture. It is also known for its capability of attracting sizable foreign investment, pro-business environment and entrepreneurs. Singapore focuses more on a knowledge based economy which can be seen in its education sysem. Furthermore, Singapore is located in the heart of Asia and it plays an important role in international

Banking industry is currently operating in the maturity stage. There are many players as a result of which the competition is quite high. Competition is broadly based on the levels of fees charged, reputation, the range of services and products provided. As the industry consolidates and the range of services broadens, the size and geographic spread of industry players in increasing. Providing a high set of barriers is the capital and regulatory requirements within the banking sector. Entities that want to start up as a commercial bank and/or investment bank or securities dealer face significant establishment costs in order to gain acceptance and meet market reputation. Furthermore, start-ups require up-front expenses in order to establish proper distribution channels. Globalization is high and the trend is increasing. Cross-border sales and acquisitions of banking operations are also occurring, as assets are shuffled in the race to raise capital.

A bank is an institution that facilitates financial transactions between the parties. Amongst its standard operations are accepting deposits from the customers, lending money as loan (cite). The major source of income for banks is interest income which is earned on loans given to the customers, business firms and corporations. This very nature of it makes banking institutions so crucial for economic development of any country. Strong banking operations and fundamentals paves the way for higher customer and investor confidence in the company.

Mainly, the challenge facing the banking integration results from the significant difference that exists in banking regulation across ASEAN countries. Furthermore, a broad diversity between ASEAN countries in terms of their banking performances.

Singapore is Southeast Asia's most important financial center and trades enter pot. Singapore also has the very high level infrastructure development in people's living standard, housing, education and transport among in Asia, attracts numerous investors and tourists every year. Base on Singapore’s characteristics of business environment

The purpose of Citibank is trying to provide high quality, efficient and personalized service to customers, fully utilize The Bank 's worldwide network and strong purchasing power to improve customer satisfaction on the banks, thereby maintain the loyalty of the bank, establish long-term relationship with the bank, both side get greater benefits in the ongoing business cooperation.

Globalization is the tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets. It not only increases international trade but also cultural exchange. Globalisation touches all aspects of a nation, be it economic, political, or sociocultural. The main objectives of globalization include – incorporating all the people from different worlds into a single global society which improves communication and persuades foreign companies to invest in the country which will bring revenue and improve the economy (Scholte, 1997). The country that will be discussed in this essay is Singapore which is a wealthy city state in south-east Asia with a population of 5,888,926 as on July 2017(est). Once a British colonial trading post, today it is a flourishing global financial hub and known as one of Asia's economic "tigers". Singapore has perfectly embraced a capitalist economy where the state is controlling all the stakes in companies. Also, because of the highly free market there are more than 7,000 different business companies in Singapore and the Port of Singapore is the busiest since the opening of Suez Canal which helps to increase import and export. The major success of Singapore is because of its strategic location and natural harbour from which 40% of the world maritime trade passes (BBC Report, 2017). With a GDP of $297 billion (2016 est.), Singapore has

One of Singapore's key principle is to maintain a stable environment in Southeast Asia. Threats of terrorism is taken very seriously. By having economic, political and cultural ties, Singapore is able

Singapore is a high income economy of GDP $307.9 and $55,150 per capita income as of 2014. According to the World Bank reports Singapore

"Home to some 4.48 million people (based on the last census in 2005 reported in 2006), Singapore is the fourth most densely populated country in the world and has one of the highest per capita gross domestic products in the world."1 The employment rate is 2.40 million (June 2006), with unemployment at an all-time low at only 2.5 percent. The labor force consists of mainly manufacturing, transportation and communication, construction, and financial, business, and other services. Singapore is orderly, prosperous, and modern. According to Richard H.K. Vietor, a Harvard Business School professor, Singapore, along with

Over the years, Financial Services has emerged as one of the most important contributors to the Mauritian economy with a GDP share of 13%. The sector has seen a sustained growth of about 7.8% per annum over the last few years. The sector comprises of major local and international players in banking, insurance, capital markets, fund administration and management, international legal services and investment advisory amongst others2.

3 4 11 FOREWORD INTRODUCTION - Getting to know Singapore OVERVIEW OF LEGAL ENVIRONMENT - Legal Framework - Handling Civil Disputes - Employment - Immigration - Competition Act - Singapore's Free Trade Agreement (FTAs) STARTING A BUSINESS BANKING RELATIONSHIP IN SINGAPORE - Introduction to the Financial Landscape in Singapore - Banking in Singapore - Business Credit Facilities - Business Protection TYPES OF BUSINESS ORGANISATIONS - Sole Proprietorships and General Partnerships - Limited Liability Partnerships - Limited Partnerships - Companies - Joint Ventures - Foreign Companies - Representative Offices - Incorporating a Company - Annual Requirements for

The Republic of Singapore celebrated its 42 years of independence in year 2007. Situated at the southern tip of Malaysia, Singapore currently holds a population of 4.68 million as of June 2007. At 704.0km2, it is ranked 4th in the world for its population density. During the past four decades, the economy as measured by real Gross Domestic Product (GDP), multiplied by over 20 times (Ghesquiere, 2007, p.11). As a small and extremely open economy, Singapore long term survival is very much dependent on the ability to maintain its viable position and remain afloat in the sea of global competition (Mun Heng et al, 1998, p.14).

The project requires the student to carry out a research, analysis and discussion on how a Singapore listed company can access to the country’s financial system and how it benefits the company in achieving its business objective. The research will cover the various types of financial services offered by financial intermediaries whom the corporation can access to.