Is Singapore’s rapid economic growth likely to be sustained, or is it temporary? From your own business perspective, what are its implications – both positive and negative?

Ross Hammond
Managing Director
Emerson Network Power (S) Pte Ltd

THIS ‘rapid economic growth’ is merely a return to pre-financial crisis market conditions. Still, the growth will be positive for us overall, with more money to be made. We’re seeing an increase in consumer spending and the size of businesses growing both in terms of profitability and people. We are looking forward to seeing positive results by the close of FY10, almost matching FY08 results. Our inquiry levels are improving across the spectrum and we are in the midst of long-term planning exercises with our customers, indicating that this is not just a flash in the pan.

In response to the rising demand, an issue is factory capacity. We need to ramp up production capacity to previous levels, which would require additional people. We are also expecting to feel some pressure to improve employee remuneration overall as competitors look to increase their staff. Hopefully, our integrity as an employer during the tough times will be rewarded and our people will continue to regard us as a long-term prospect for career development.