JEDDAH: Johor Darul Ta'zim's (JDT) hopes of becoming the first Malaysian club to reach the AFC Champions League (ACL) Elite semi-finals were dashed after a narrow 1-2 defeat to defending champions Al-Ahli on Friday (April 17).
Almost one in five companies polled reported significant cost increases of more than 25 per cent. -- ST PHOTO: KELVIN CHNG SINGAPORE : Most bosses here are facing mounting cost pressures due to an energy shock triggered by the Iran war, with some businesses starting to freeze hiring and trim benefits, according to a recent poll.
Conducted by the Singapore National Employers Federation , the snap poll found that 96 per cent of the employers polled are facing higher operating costs, with energy prices driving up utilities, fuel, materials and freight costs. Almost one in five or 19 per cent of them reported significant cost increases exceeding 25 per cent. Another 41 per cent reported a moderate hike of 11 to 25 per cent, while the rest reported a small hike of 1 to 10 per cent.With the spike in utilities and fuel expenses, businesses here also have to grapple with higher costs for raw materials, supplies and logistics. As the market adjusts to the more expensive operating environment, employers in the hospitality, food and beverage and retail sectors also face rising temporary labour costs. However, most employers – 83 per cent of them – said they have not made any changes in terms of staffing or work arrangement. Among those who have done so, many chose to defer hiring and expansion plans , redeploy or cross-train their staff , or reduce headcount through natural attrition . One in four also turned to cutting bonuses, allowances and benefits, while about one in five chose to reduce work hours. “These are largely calibrated responses aimed at managing costs while preserving jobs,” SNEF said in its press release on April 20. Many employers remain cautious, with 39 per cent of them having a negative outlook for the next six to 12 months. Most of them said tax relief or financing assistance would be the most useful form of support should energy prices remain high. They also called for energy cost relief and subsidies, and a delay in manpower policy changes that could raise costs further. Under Budget 2026, bosses looking to hire foreign employees are expected to fork out more from 2027, with the minimum qualifying salaries for Employment Pass holders to rise from $5,600 to $6,000, and for S Pass holders, from $3,300 to $3,600. SNEF chief executive Hao Shuo said: “As the global economic situation remains quite fluid, we hope that the Government will consider the prevailing economic conditions when implementing the earlier announced foreign manpower policy changes and also introduce a tiered level of support under the enhanced Progressive Wage Credit Scheme to help employers that are raising wages for their lower-wage workers.” The SNEF poll, conducted between April 10 and 16, drew responses from 210 companies in the financial, manufacturing, services and construction sectors. Most respondents – 153 of them – are small and medium-sized enterprises with fewer than 200 employees or an annual turnover of less than $100 million. Mr Voo Wei Keong, Woodland Transport’s executive director and head of bus division, said the big surge in diesel prices has greatly affected the business. “We are appealing to fixed-contract clients to consider helping us with a fuel surcharge. Many of such contracts do not have such a clause,” he said. -- The Straits Times/Asia News NetworkHormuz crisis spurs Thailand to fast-track long-standing landbridge projectShipping traffic remains at virtual standstill through Hormuz, data shows
Cost Pressures Energy Shock Hiring Freeze Operating Costs Manpower Costs Temporary Labour Staffing Changes Support Measures Foreign Manpower Policy
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fibre Service Outage in Central and North-East Singapore Restored After Third-Party Construction DamageApproximately 5,000 broadband users in central and north-east Singapore experienced a fibre service outage on April 18, affecting major telcos. The disruption, caused by damage to fibre infrastructure during third-party construction works for the North-South Corridor project, has now been fully restored. The incident also impacted the ETA system for buses.
Read more »
22 foreigners held in Johor immigration operationJEDDAH: Johor Darul Ta'zim's (JDT) hopes of becoming the first Malaysian club to reach the AFC Champions League (ACL) Elite semi-finals were dashed after a narrow 1-2 defeat to defending champions Al-Ahli on Friday (April 17).
Read more »
Triple Fatal Shooting in Johor; Suspect ArrestedJohor police have apprehended a suspect following a fatal shooting incident that claimed the lives of three individuals. The victims, two local men and a foreign woman, were discovered deceased at the scene. Authorities believe a shotgun was used in the attack and are investigating potential motives, including personal debt.
Read more »
Johor woos investers with ‘tailor-made’ solutions, says state adviserHasni Mohammad says the state government delivers customised solutions to meet each investor's request on matters such as obtaining skilled talent.
Read more »
Balloons up in the air: 40pc helium spike hits Singapore event firms amid supply crunchSINGAPORE, April 20 — Party and event suppliers in Singapore are grappling with a sharp spike in helium prices, with some firms reporting increases of up to 40 per cent as...
Read more »
Energy crunch squeezes Singapore: 96pc of employers see higher costs, 19pc report spikes above 25pcSINGAPORE, April 20 — Businesses in Singapore are tightening their belts as an energy shock linked to the Iran war drives up operating costs, with some firms freezing hiring and...
Read more »