Trans-Cab Partners Gojek Singapore In the Midst of Competition Against Private Hires

Trans-Cab Services, Singapore’s second-largest taxi company and Gojek Singapore  announced partnership to allow more than 3000 Trans-Cab drivers to gain access to bookings made via the Gojek platform, and will be able to fulfill private-hire trips on a flat-fare basis from December 2019.

Within a short 1 year span, Gojek claimed to have clocked 30 million completed trips in Singapore. Singapore is now Gojek’s second-largest transport market after Indonesia in terms of transaction value, a testament to customer trust and value in Gojek’s offering.

Trans-Cab chief executive officer Teo Kiang Ang said: “This collaboration with Gojek is fantastic. It will enable our drivers to access on-demand bookings via the Gojek app, while they continue to be able to take on street-hail jobs. Our drivers will greatly benefit from this flexibility and increased earning opportunity.

In fact, Gojek is not the only ride-hailing services provider that Trans-Cab is working with. In September this year, Trans-Cab has inked a partnership with another small local company Ryde.

It is inevitable for Trans-Cab to venture into private hires ever since private hire like Uber and Grab entered Singapore. In less than 10 years,  the number of taxis in Singapore has dropped drastically from 28,000 to under 20,000. To overcome the technological barrier, it may be better for taxi operator like Trans-Cab to partner, instead of going head-on, with car hailing service providers like Gojek and Ryde.

Currently, Trans-cab has a fleet of close to 3,000 taxi which is very far behind market leader ComfortDelGro Corp.’s 11,000 vehicles under its Comfort and CityCab brands, data from the Land Transport Authority showed.

In early September this year, Trans-Cab announced intention for listing in Singapore stock exchange with a valuation of SGD 200 million.

Razer Announces Stormtrooper Edition Kraken Headsets

Razer announced in March that they are collaborating with Lucas Film in bringing Stormtrooper- themed collection of Razer products to the gamers. They have already launched the Blackwidowed Silent Mechancial Keyboard and Atheris Wireless Mouse.

To compliment these two, Razer is launching the Stormtrooper Edition Kraken Headset. Retaining the same market- leading features as the original Razer Kraken headset is now sporting the colors of the most feared army in the Star Wars Galaxy.  

Designed for esports athletes and gamers alike, the StormtrooperTM Edition of the Razer Kraken headset features custom-tuned 50mm drivers for a wide soundscape from subtle audio cues to helmet rumbling explosions. The uni-directional, retractable microphone ensures your shot calls and battle orders are always delivered in absolute clarity.  Using a thickly padded bauxite aluminum frame and cooling-gel ear cushions, the StormtrooperTM Edition of the Kraken headset is built for comfort over long mission sessions. With an inline remote for volume and microphone controls and connection via 3.5mm jack, the StormtrooperTM Edition of the Razer Kraken headset is compatible with PC, Mac, console and mobile devices.  

The StormtrooperTM Edition of the Razer Kraken headset is available now at Razer.com and is selling at the recommended retail price of USD 109.99

Singapore ISP – ViewQwest Launched Its Smart Living Platform

ViewQwest, Singapore-based Internet Service Provider (ISP), launched Vesta, its smart living platform which will provide users with hassle-free and highly personalised smart living services. Unlike traditional smart living products, Vesta is a subscription-based service which comes with full-service installation, maintenance and customer support. 

To kickstart, ViewQwest launches its home security service on Vesta – Vesta Shield, a smart monitoring service which provides round-the-clock monitoring. Beyond that, Viesta Shield alerts users of intrusions. Various sensors can be set up around the home or office to detect opening of doors and unexpected movements. The data collected is wirelessly transmitted to a central Vesta hub which processes the data and sends meaningful notifications to the user via the Vesta app. 

When there are any unexpected events in the home or office while the system is armed, Vesta Shield will automatically send an alert to the user via the app, SMS, or automated call through its intelligent notification engine. Email confirmation may also be provided for every monitored and triggered activity. There is also an option to set the built-in siren within the Vesta Hub to go off and emit a loud, high-pitched noise designed to alert people at home as well as to scare away the intruders.

If the alert notification is not acknowledged within 60 seconds, the armed siren will sound. The system will then automatically call contacts registered in Vesta Shield’s escalation list if the siren is not turned off within 2 minutes. Vesta’s escalation list provides the primary, secondary and tertiary contacts for effective escalation. For example, if the primary contact does not respond and no action has been taken, another call is made to the secondary contact and if the latter also does not respond, then the tertiary contact is contacted.

Future updates to Vesta will also enable the integration of different smart accessories and hardware, allowing users to operate all smart devices through the single Vesta hub.  

Singapore’s smart device penetration at home is predicted to grow from 20.6% in 2019 to 36.1% in 20232, as more Singaporean homes are keen in smart living solutions.

Vignesa Moorthy, CEO of ViewQwest said, “More Singaporean homes are keen in smart living solutions, but some are deterred by the inconvenience of setting up devices all on their own. We want to take the tough out of the equation with our subscription-based service model.”  

Vesta Shield starts from $25 per month and will be available to all new and existing ViewQwest customers.

To complement smart living solutions, ViewQwest is also partnering security specialist Trend Micro to offer the Home Network Security as a subscription-based service starting November 2019. The Home Network Security creates a new and extensive layer of cyber security protection for the home network, protecting Vesta IOT devices as well as the computers, mobile phones and other devices connected to the network. 

Availability and Pricing

From November 2019 to February 2020, ViewQwest will be offering a free trial of the Vesta Shield to existing ViewQwest customers – residential and Small and Medium Enterprises (SMEs). 

Vesta Shield will be available in Q1 2020 in three bundles:

  • Starter bundle: S$25/month with $80 activation fee
  • Essential bundle: S$30/month 
  • Full Protect bundle: S$35/month

For full details of the availability and pricing, and to subscribe to the smart living services, please visit: https://www.viewqwest.com/smartliving/vesta.

Huawei Singapore “Gives” You SGD 463 To Ditch Google Services. Now, will you buy the Mate 30?

We all know that Huawei’s latest Mate 30 and Mate 30 Pro will not come with Google Mobile Services and that mean customers outside China who bought their latest flagship phones will not be able to use Youtube or Google Maps.

In the early October, Huawei Singapore has finally released the price plan for the Singapore customers. The new Mate 30 Pro is selling at SGD 1,298. Customers can now register their interest for the Mate 30 Pro which comes in either Black or Silver color.

As part of its early bird special, interested buyers who bought the phone will be invited to an exclusive private event and on top of that, they will receive a set of free gift worth SGD 463.

We have heard good reviews about the Mate 30’s camera. No doubt, the Mate 30 is a high-quality phone. However, we don’t just use our smartphone for photography only. We use that for other purposes which is why we need Google Play to download other essentials apps to suit our needs.

Now, Google Play has been taken away and Huawei customers have to get accustomed to their in-house Huawei Mobile Services. To the Android users, this is a switching cost and that’s bring back to one question, “Is the Huawei Mate 30 Pro worthy enough for that switch?”

Personally, I am adopting a “wait-and-see” approach to see how Singapore market reacts to this. Please feel free to leave a comment below if you have some unique insights on this matter. I will love to hear from you.

For those who are interested in the phone, here are the key things to know to get your hands on the HUAWEI Mate 30 Pro:

STEP 1: Register your interest online here from 5 -15 October, 2019
STEP 2: You may receive a call or email between 16 – 24 October 2019 with an invitation to a private event (limited to 200 successful registrants, selected at random)
STEP 3:  Upon invitation, you may attend a private event to purchase the HUAWEI Mate 30 Pro and receive an exclusive gift bundle worth $463 NOTE: Those who did not receive the invitation will be informed of the next opportunity to purchase the HUAWEI Mate 30 Pro. 

Opensignal: Singapore is one of the six countries outside Europe to gain a ‘Good’ rating for over-the-top (OTT) voice services.

Voice apps are changing the way we communicate. The insatiable growth in smartphone use along with the increasing ubiquity of data connections means that apps such as WhatsApp, Skype, Facebook Messenger and many other VoIP (voice over internet protocol) service providers are offering an entirely new platform for users to talk to each other.

Opensignal, an independent mobile analytics firm, has just released a report that measures the quality of over-the-top (OTT) voice services experienced by consumers across 80 countries, including Singapore. This marks the industry’s largest, independent survey of user experience of OTT services.

Singapore is The Only Asia country Emerges the Top 10.

Of the 80 countries analysed for overall Voice App Experience, almost 25% (19) achieved a ‘Good’ rating — meaning many users in these countries were satisfied and experienced minor quality impairments while using Voice Apps to communicate.

Singapore scores 81.7 trailing closely behind Switzerland (81.9) securing 8th position among 80 countries surveyed. No country globally attained an ‘Excellent’ or ‘Very Good’ rating.

Only six were from outside Europe, which are Singapore, South Korea, Japan, Taiwan, Australia and New Zealand get “Good” rating.

Voice App Experience on 4G networks is most often ‘Good’

The 3G Voice App Experience scores are consistently lower in every country compared with their 4G equivalents, including Singapore. In this region, Singapore and Hong Kong were the only countries who had a difference of less than 5 points between their 3G and 4G Voice App Experience score — an indicator of what the mobile experience will be in future for highly matured markets where 4G Availability is rising and is replacing 3G as operators enhance their networks for smoother transitions. 

To read more about the survey results, you may access the report here

PwC Singapore commits about S$10 million to developing its people in Singapore

  • In Singapore, PwC pledges close to S$10 million to digitally upskill its people in line with its global ‘New World. New Skills.’ commitment
  • PwC’s global revenues up 7% to US$42.4 billion
  • Focus on our purpose drives good revenue growth in all major markets and areas of business
  • 25,000 new jobs created, increasing the workforce to 276,000
  • US$3bn investment in upskilling PwC people, and developing and sharing technologies to support clients and communities

Singapore; Tuesday 1st October, 2019 – For the 12 months ending 30 June 2019, PwC firms around the world had gross revenues of US$42.4 billion – up 7% in local currency and 4% in US dollars. Revenues grew across all lines of business and major markets, boosted by the power of the PwC brand and continued significant investments in quality, technology and people.

As our clients face increasing challenges and opportunities driven by technological advances, stakeholder expectations and other changes, they require us to work together across the broad range of our operations helping them to deal with issues such as cyber security, trust, regulation and strategic workforce planning. And as a result, our business is growing rapidly in these areas to meet increased client demand.

“Over the past year, we’ve continued to focus on delivering value to our stakeholders, working hard to build trust and help our clients solve their most complex problems. As a result, PwC businesses grew in all major markets around the world. Our strong growth in revenues has enabled us to continue to invest in our businesses and our people. Investments in technology are making our services more relevant and enhancing the quality of our work.

“PwC firms now employ 276,000 people worldwide and are investing heavily in learning and development to ensure our people can build rewarding careers and are prepared for the future world of work,” said Bob Moritz, PwC’s Global Chairman.

New world. New skills.

It’s become increasingly apparent that one of the world’s most pressing challenges – and one faced by business – is the growing mismatch between the skills people have and those needed for the digital world. There is an urgent need for organisations, governments and educators to come together to fix this growing problem and business has an important role to play. Over the next four years, we are committing $3bn in upskilling globally – primarily in training our people but also in developing and sharing technologies to support clients and communities.

Closer to home, PwC’s recently launched Upskilling Hopes and Fears report found that about one in three (31%) Singaporeans felt that they were not well-equipped for new workplace technologies. In order to ensure that our people in PwC Singapore don’t fall into this 31%, the Singapore firm is committing close to S$10 million over the next two years to developing their digital skills.

“We are kick-starting this with a two-year comprehensive multi-platform programme designed to digitally upskill our people. The programme is intended to drive a culture of innovation where each staff and partner is empowered with the right mindset and capabilities in data and automation to determine the path they want to take, and even play a part in shaping the profession of the future,” said Yeoh Oon Jin, Executive Chairman at PwC Singapore. He continued, “The advances in technology also means that there are some who may be left behind. So, as part of our corporate responsibility effort, we are also working with our clients, government agencies and engaging with communities to help close the skills gap in today’s digital world.”

PwC Singapore’s programme will see the digital upskilling of over 3,500 of our people systematically through:

  • Curated classroom and virtual trainings on the basics of data visualisation, data analytics and automation that are customised to various business units unique needs. These trainings will see our people go through more than 80,000 training hours.
  • The continuous development of our people’s digital fitness through our Digital Fitness Assessment app which measures users’ Digital Fitness Score and recommends customised on-the-go upskilling plans and materials to help improve their score. This mobile app is also available for clients.
  • Enabling continuous self-learning outside of the classroom via our easy-to-access internal e-learning platforms and materials.
  • Enabling solution-sharing and innovation through our centralised solutions repository and technology collaboration platform.
  • Committing headcount (individuals with advanced digital skills) to help teams utilise insights, automate processes, develop solutions and improve user experience to accelerate digitalisation across the firm

The programme in Singapore is in line with PwC’s upskilling commitment across the network. Globally, ‘New World. New Skills.’ focuses on four key areas:

●Upskilling all of PwC’s 276,000 people. We will roll out different programmes that meet their particular needs, from skills academies to digital fitness apps to leadership development. A proportion of our workforce will develop specialist skills in areas including data analytics, robotics process automation and artificial intelligence for use in their work. For others, it’s about understanding the potential of new technologies so they can advise clients, communities, and other stakeholders.

●We are also advising our clients on the challenges posed by rapid technological change and automation. This includes identifying skills gaps and mismatches against likely future needs, workforce planning, upskilling programmes and cultural change.

●We will work with governments and institutions to reach a much broader group of people. For example, PwC in Luxembourg helped develop the Luxembourg Skills Bridge which brings together trade unions, associations and businesses to build digital industries and develop digital skills, including among those populations most ‘at risk’.

●We will help millions of people improve their skills and knowledge for the digital world by making upskilling a focus of our not-for-profit initiatives. This includes working with students and teachers, which will help ensure opportunities are more evenly spread and we reach people who may otherwise be left behind. Learn more about PwC’s New world. New skills.

A good performance across the world

In the Americas, revenues were up by 5% compared with 4% the prior year, with a particularly strong performance from operations in the United States and Canada, offset by some challenging economic conditions in Brazil where revenue rose by 2%. Growth in Western Europe was up by 7%. In Central and Eastern Europe, revenues continued to grow strongly – up 10% – marking the fourth consecutive year of double digit growth.

Revenue growth from the Middle East and Africa was also strong, despite some challenging market conditions, increasing by 9%. Across Asia, revenues grew by 9% while in Australasia and the Pacific, PwC enjoyed another strong year with revenues rising by 10%.

Assurance: Despite very mature and highly competitive markets, revenues from PwC Assurance operations grew by 5% to US$17.4 billion. With 115,000 people across the world, we continue to manage the challenges of mandatory firm rotation in many markets and attract new clients with the introduction of cutting-edge solutions and emerging technologies for the audit. In addition, demand for our broader assurance services continues in established areas such as internal audit, risk and compliance, as well as emerging areas such as data and analytics, crypto currency and blockchain.

Advisory: PwC Advisory operations grew by 10% to US$14.4 billion. We have in recent years established a strong reputation for delivering value for clients from strategy to execution. This is driving high demand, particularly relating to deals, value creation and business transformation. PwC Advisory operations now employ 68,000 people. We engage a broad range of talents, bringing not only the more traditional management or strategy consultants, but also data scientists, AI experts, systems engineers, designers, communications experts and others, to address our clients’ most pressing business issues and opportunities. We also have alliances with many of the world’s leading technology companies to create cutting-edge solutions for clients.

Tax & Legal Services: PwC Tax & Legal revenues grew by 6% to US$10.7 billion, driven by continued complexity and change in many local tax systems, as well as the state of flux in the global regulatory and economic landscape. The 55,000 professionals in our Tax and Legal Services practices use the latest technologies to help businesses navigate complexity and risk, build their people networks, and solve legal challenges while meeting their tax and other responsibilities. Demand was particularly high for People & Organisation services, Legal services, and Tax Reporting & Strategy services.

Striving for the highest quality

The quality of our work is at the heart of our organisation and we invest significant and increasing resources in its continuous enhancement across all of our businesses. This investment is targeted into many different areas, including training (technical, ethical and behavioural), methodologies, adding resources in key areas and exploring new ways of delivering our work. We are also investing heavily in new technology to drive continuous improvements in the quality, capabilities and effectiveness of all of our services. As part of our journey to be one of the most cloud enabled organisations in the world, we are investing over US$1 billion in solutions and supporting programmes to create a connected ecosystem and drive innovation and quality.

“The quality of our work across the full range of our services is incredibly important. While we are proud to have been the first of the global professional services networks to have published its internal audit quality inspection results, we know we have more to do and are operating with a continuous improvement mindset. Both in terms of how we test, measure and enhance quality and also in the levels of investment we need to make to ensure our quality is as high as possible. We have added more detail in our Global Annual Review on audit quality and aim to increase transparency in the future,” said Bob Moritz.

The results of our audit quality testing improved in FY19. We know that we have more to do and we need to reduce the level of non-compliant audits further. In FY19, of the 1,768 audits we reviewed, 94.9% (up from 92.2% in 2018) were deemed compliant. Learn more.

Telstra Cleared To Invest in Southern Cross Cable

Last December, Southern Cross Cable Network (SCCN) and its shareholders, Spark New Zealand, Singtel and Verizon Business, announced that Telstra has entered into agreed terms to purchase a 25 per cent stake in SCCN and substantial capacity on both the existing network and the new Southern Cross NEXT subsea cable.

It is now confirmed that regulatory approval has been given for Telstra to become 25% stakeholder for SCCN and the construction of subsea cable will soon commerce.

The shareholders have agreed to commit the necessary equity funding to enable Southern Cross NEXT to proceed with additional funding raised from debt and SCCN cash reserves. Although the transaction is still subject to some conditions, these are procedural in nature and are expected to be satisfied within the next few days.   

Alcatel Submarine Networks (ASN) has also been granted CIF to build the new high capacity express route which, once complete, will be the lowest latency path from Australia and New Zealand to the United States, based on its design and route.

Southern Cross NEXT will provide data connectivity between Sydney, Auckland, and Los Angeles and is scheduled for completion by January 2022. The new route will also provide critical international cable connectivity to the Pacific Islands of Fiji, Tokelau and Kiribati.

The new 13,483 kilometre cable system has been developed as an extension of the existing

Southern Cross two cable eco-system. It will allow customers to leverage Southern Cross’ extensive point-of-presence network and access infrastructure already in place. It will also allow Southern Cross NEXT customers to flexibly assign new and existing capacity across the three routes across the Pacific, connecting Australia, New Zealand, Fiji and the United States, maximising diversity and resiliency. 

Southern Cross NEXT represents a network investment of around US$300 million by Southern Cross and is designed to carry 72 Terabits per second of traffic, the equivalent of simultaneously streaming 4.6 million ultra-high definition movies, ensuring Southern Cross can cater for its customers’ growing data requirements well into the future. Services offered on the new system will be an extension and integration of the services offered across the current Southern Cross platform. The construction is being funded by a combination of capacity payments, equity contributions and financing.

Singtel Vice President, Carrier Services, Group Enterprise Mr Ooi Seng Keat said: “Our investment in the Southern Cross NEXT cable is a timely reinforcement of our global network infrastructure. Together with the newly completed INDIGO submarine cable system, the enhanced Southern Cross cable ecosystem will be a new data superhighway connecting Southeast Asia to the United States, providing greater network diversity. The new cable system will enable Singtel and Optus to accelerate the roll-out of next-generation technologies that rely on low latency and high-bandwidth connectivity, reinforcing our position as one of the leading providers of international data services in the region.” 

Telstra Enterprise Group Executive, Mr Michael Ebeid, said Telstra’s investment in the NEXT cable will deliver benefits to all its customers – from enterprise to wholesale and consumer.

“With 80 per cent of all the internet traffic to Australia coming from the US, a high speed, low latency direct route to North America is a very important investment for our business and our customers,” Mr Ebeid said.

“Southern Cross builds on our existing footprint across Asia Pacific where we carry 30 per cent of the region’s active capacity. We are now even better placed to meet our customers’ future data requirements right across Asia Pacific.”

Spark Chief Financial Officer Mr David Chalmers welcomed Telstra as a shareholder in Southern Cross: “The Southern Cross network provides critical connectivity between New Zealand and Australia, the Pacific Islands, and the USA.  Southern Cross NEXT will ensure this network Cross can continue to provide that connectivity for the region, and meet our customers’ increasing data demands, for decades to come.”

Southern Cross’ President and CEO Mr Laurie Miller said: “The achievement of CIF is the result of a massive amount of effort by Southern Cross and the Sponsor teams over many months on the project. The addition of the new Southern Cross NEXT route to the existing platform will provide existing and future customers with further resiliency and connectivity options between Australia, New Zealand and the United States. We are delighted to have successfully achieved this key milestone, and all focus will now turn to the timely implementation of the new system, and the continued development of product enhancements to meet our customers growing and changing requirements.”

With significant work already completed including pre-sales, marine survey, landing arrangements, Pacific Island agreements, detail design and the cable RFT, the Southern Cross NEXT project is well positioned to meet its target completion date of January 2022.

PwC study finds Singaporeans are second most anxious about the future impact of technology on their jobs

Source: PwC Singapore

September 2019, Singapore – Technology is changing the way people work and two in five Singaporeans (18%) are scared or nervous about the future impact of technology on their job. The city-state’s workforce as second most nervous or scared globally, just behind French workers (20%) and tied with the British (18%).

These findings are from a new PwC report, Upskilling Hopes & Fears, which surveyed 22,000 adults across 11 countries worldwide, and build on PwC’s economic analysis on the impact of automation on jobs.

Singaporeans are starting to see the impact of technology on work and jobs. As a smart-nation, the pace of technological advancements is expected to be faster than neighbouring countries in South-East Asia, and both government and the private sector are adopting technology quickly which could potentially accelerate the impact on jobs. This makes Singapore jobs more susceptible to the impact of technological advancements.

When Singaporean workers were asked why they had felt nervous or scared about the impact of technology on their jobs, 58% were worried that technology would make their role redundant and 36% were worried that they wouldn’t have the right skills.

On top of that, about half the Singaporeans (54%) surveyed believe automation will significantly change or make their job obsolete within the next ten years. While most admit that technology would change their jobs significantly, 4% still believe that technology would not affect their day-to-day work.

Despite the uncertainty, there is also a sense of optimism. The report found that 53% of respondents indicated that they felt technology would bring about more opportunities than risks in the workplace and 85% felt that technology will change their work for the better.

Fang Eu-Lin, Leader of PwC’s Academy in Singapore says:

“With technology, roles that are more process-driven are more at risk of being displaced and individuals doing these roles must prepare for their “version 2.0” role. For example, robotic process automation (RPA) is becoming more commonplace, driving greater efficiency in highly repetitive tasks. In the short term, this change will require employees to understand how to work with the technology. In the longer term, individuals with the skills to maximise these new opportunities will be the ones who thrive in the marketplace.”

Time to upskill

While employees seem to understand how the technology can be embedded into the workplace, they are concerned that they may not have the right skills to remain relevant as the business landscape changes. Given the clear recognition of the change that technology will bring, it is unsurprising that 81% of respondents in Singapore were already learning new skills to better understand or use technology.

Even if they weren’t already pursuing opportunities, 92% in Singapore said that they would take the opportunity to better understand or use technology if it were available to them. If their jobs were at risk, 85% of Singaporeans would learn new skills now or completely re-train in order to improve their future employability.

This is a clear reflection that individuals are aware of the necessity of upskilling. This is potentially due to the increase in efforts by both the public and private sector. For example, Singapore has put in place safeguards, such as the establishment of SkillsFuture to inspire an attitude of life-long learning amongst its citizens. Initiatives such as Professional Conversion Programmes (PCP), Industry Transformation Maps and SkillsFuture Frameworks serve as good and tailored guidance for organisations and individuals to prepare for their job in the future.

With the strong national push for upskilling there are many more opportunities in the market for Singaporeans to upskill, but ultimately it’s up to each worker to take the step. However, less than half of Singaporeans (44%) recognised that it is their own responsibility to upskill. 32% felt that upskilling was the government’s responsibility higher than the global average of 22%.

Although, only one in five (19%) felt that employers were responsible for upskilling their workforce, a majority of employers have already begun to play their part in championing the agenda. In Singapore, 76% of workers said that their current employer was giving them the opportunity to improve their digital skills outside of their normal duties, although only 31% of respondents indicated that they are currently upskilling through their employers. This seems to indicate that there is a need for some reconciliation between the skills employees need and what is being offered to them.

Martijn Schouten, Singapore People & Organisation Leader, PwC South East Asia Consulting says:

“Employers are faced with a lot of complexity in understanding, managing and mitigating the impact of technology on the world of work. It’s the type of wicked problem that requires a wide variety of perspectives; deeper insight in the demand and supply for job roles; the capability to redesign structures and roles; an understanding of the skills and capabilities required to fulfil new and changing roles; and the ability to coach and motivate people to embrace learning and upskilling. A challenging, yet very important problem to solve.”

Country comparisons

Singaporeans emerged the most likely to be learning new skills through their employer, tied with the Dutch at 35%. As compared to the other countries surveyed, Singaporean workers were also the most likely to accept a lower level position in another company or industry if they believed their job was at risk of automation (60%, global 47%).

Looking across the markets surveyed, workers in China and India are by far the most upbeat about the impact of technology (even after adjusting for cultural bias), despite being the most likely to believe their jobs will change significantly. Workers in these regions are getting more opportunities to upskill: 97% and 95% respectively are being given these opportunities by their employers. On the other hand, workers in the UK and Australia say they are given the least opportunity to learn new skills. They also tend to be less positive about the impact of technology.

Despite Chinese workers being more positive about the impact of technology, it’s interesting to note that Singaporeans are taking more responsibility for their own upskilling as compared to their Chinese counterparts. Only 26% of Chinese workers reflected that it was the individual’s responsibility to upskill (as compared to 44% of Singapore workers), while 40% and 31% of them said the responsibility lies with the government and the businesses respectively.

Although Singaporean workers are ahead of the average worker when it comes to learning new skills (81% in Singapore, 77% globally), our population is still behind emerging countries such as India (96%) & China (96%).

Fang Eu-Lin, Leader of PwC’s Academy in Singapore concludes:

“The world of work in changing rapidly. For Singapore to remain relevant on the world stage, every player must do their part to keep the momentum of digital upskilling going. Employers, industries and government play a significant role in this by partnering and creating opportunities for upskilling, supporting and encouraging Singaporeans to upskill in an effective way.”

Belt and Road Initiative (BRI) – MAPFRE, China Re Signs MoU

MAPFRE (Stock: MAP.BMAD) and China Re (Stock: 1508.HK)have signed a memorandum of understanding to collaborate on insuring investments related to the Belt and Road Initiative (BRI), a massive infrastructure plan launched by the Chinese government in 2013 to connect China with the world’s major economies.

Source: MAPFRE

As part of the agreement signed between the two companies, MAPFRE will offer insurance and reinsurance support to Chinese interests in Latin American and European countries where it has a local presence. MAPFRE will also act as cedant for China Re on projects of interest to both parties.

China Re is the largest reinsurer in China and Asia, and the owner of China Continent, one of the five largest insurers in the Chinese market. MAPFRE and China Re have been collaborating for a number of years, in both reinsurance transactions between both, and in roadside assistance, through their respective subsidiaries, Road China Assistance and China Continent.

The BRI is a long-term intercontinental project that includes the construction of roads, railways, ports, airports, oil and gas pipelines and power plants, but also includes other projects, such as educational programs and the construction and development of special economic zones. China and 131 other countries are currently BRI members, together accounting for 30% of global GDP, 62% of the world’s population and 75% of known energy reserves.

Crypto.com Launches MCO VISA Card for US Citizens

Crypto.com, Hong Kong-based Blockchain startup, has announced new MCO VISA pre-paid card for the US Citizens. The U.S. card launch in partnership with Metropolitan Commercial Bank has been set to July 14, 2019. The new US card also comes with new design. Crypto.com has also added in Frost Rose Gold card in their portfolio of pre-paid cards.

The MCO Visa Card is a prepaid card that features high-end metal cards with no annual or monthly fees, up to 5% back on all spending, unlimited airport lounge access and subscription rebates for popular streaming services such as Netflix and Spotify based on the number of MCO staked. The new design prominently features the Crypto.com brand icon, the Ethereum Lion.

2019 is the year for cryptocurrency. Facebook announced their own currency – Libra. Shortly after Facebook’s announcement, Bitcoin has rallied and crossed the USD 10,000 mark. Ever since Crypto.com’s announcement on their entry to US market, their MCO coin has jumped more than 20% within a day.

Reservations for the MCO Visa Card are made using the Crypto.com App which includes a three-minute customer onboarding process including ID verification. Using the App, customers are able to manage their card usage, move funds between crypto and fiat, and freeze or unfreeze their card with a single tap. The App also allows users to securely buy, sell, store, send, and track cryptocurrencies.

All MCO Visa Card transactions are denominated in fiat currency. All cryptocurrency exchanges to fiat currency take place before users may load their MCO Visa Card for use on the Visa network.

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