Read More

Over 42 million travellers entered Singapore in 2020, lowest in 5 years: ICA

SINGAPORE - Over 42 million travellers were cleared for entry and departure at Singapore's checkpoints last year, a plunge of more than 80 per cent from the year before, while the low-value goods that came in doubled in volume to over 21 million. The Immigration and Checkpoints Authority (ICA) said on Monday (Feb 8) that the volume of arrivals and departures in 2020 - which saw an 80.6 per cent fall from the more than 217 million in 2019 - was the lowest in five years. In its annual statistics report, the ICA said the volume of fell as demand for air travel came to a halt, with many countries imposing strict border control measures because of the Covid-19 pandemic. With many of those stuck at home doing their shopping online, the volume of low-value goods - which do not exceed $400 in cost - rose sharply. The ICA cleared more than 21 million low-value goods through air cargo checkpoints last year, double the 10.5 million in 2019. Meanwhile, the volume of cargo - including consignments, containers and parcels - coming into Singapore rose by 400,000 last year, a 3.6 per cent increase from 2019. The drop in travellers and vehicles entering Singapore led to a 55.4 per cent decrease in ...

Read More

Data shows fall in big-ticket start-up investments

SINGAPORE - The global pandemic has had a profound impact on the appetite to invest in new start-ups, according to data compiled by global data analytics specialist GlobalData. The British-based data research firm found that big-ticket, billion-dollar deals were mostly non-existent during the October-December quarter of last year. Of the total 3,603 global deals during the quarter that disclosed deal value, 66.2 per cent were low-value deals, with US$10 million (S$13 million) or less investment value, while those valued at more than US$100 million stood at just 4.2 per cent. GlobalData lead analyst Aurojyoti Bose cited investor caution as the main reason for the fall in investment quantum. He said: "With tough market conditions and an uncertain business environment, cautiousness prevails among investors when committing to big-ticket investments." Venture capital (VC) investment volume (deals with disclosed deal value) decreased by 14.7 per cent from 1,357 deals in October to 1,158 in November, and further shrank by 6 per cent to 1,088 last month In October, low-value deals stood at 69.1 per cent of the total deal volume, while the share of deals valued more than US$100 million stoo...