Dear Valued Customers,

Welcome to 3E Accounting’s December 2023 Newsletter

Welcome to our final newsletter of the year! We’re so proud to have finished the year on an upswing and for all our readers to have shared in the highlights of the month with us.

Of course, the year wouldn’t be complete without our final December highlights issue, so let’s look at how our team in Singapore, Malaysia, Hong Kong, and Indonesia wrapped up the final month of the year.

3E Accounting Featured in The Digital Banker

3E Accounting is proud to say we’ve been featured in The Digital Banker, a globally trusted news, business intelligence, and research partner to the worldwide financial services sector. This is a proud moment with HSBC Business Go, highlighting our firm’s dedication to innovation and excellence in the business expansion landscape.

3E Accounting has been collaborating with HSBC Business Go, a groundbreaking B2B digital platform designed to support businesses in their efforts toward international expansion. HSBC is one of the largest banking and financial services organisations, and collaborating with them will only expand 3E Accounting’s reach to its fullest potential.

Business Confidence On the Rise in Malaysia’s Fourth Quarter of 2023

Malaysia’s business environment is looking strong and confident, given the 3.2% surge in the fourth quarter of this year. Experts are predicting that the economy is only going to get stronger from here, bolstered by the construction, services, and industry sectors primarily. With a strong performance from the services sector (rising to 6.3%), the next 6 months look promising.

Hong Kong Is Leaping Towards Efficiency, Unveiling Its Unique Business Identifier

Hong Kong will unveil its Unique Business Identifier (UBI) system, an innovative system expected to launch 27 December 2023. The UBI system will propel Hong Kong toward a transformative journey that is set to redefine how entities are identified. It is going to streamline operations, ushering in a new era of efficiency. The UBI system will be initiated over two phases.

UBI, is a distinctive numerical code adopted by numerous economies globally. Singapore, New Zealand, Canada, and the Philippines have already embraced UBI, showcasing its potential to enhance communication and data exchange across government departments and businesses. This identifier aims to reduce errors caused by using different identification methods for the same legal entity.

All Set for $20 Billion Renewables Investment Plan in Indonesia

Indonesia’s $20 billion Renewables Investment Plan is already underway, aimed at reducing carbon emissions and speeding up the nation’s shift toward clean energy. The renewables investment plan is part of Indonesia’s commitment to cut CO2 emissions by 250 million tonnes from its power sector. This plan was launched under the Just Energy Transition Partnership (JETP) and supported by global leaders, including Japan and US.

Thank you for journey with us in 2023 through our incredible year of achievements and milestones. The 3E Accounting Team would like to wish you and your families a Merry Christmas and Happy New Year.

Abigail Yu
Director, 3E Accounting Group