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CPA Australia proposes policy ideas to support Hong Kong’s long-term competitiveness

Published

4 months ago

21/08/2025

HONG KONG SAR – Media OutReach Newswire – 21 August 2025 – As Hong Kong continues to navigate global economic shifts and rapid technological transformation, CPA Australia has today submitted a series of recommendations to the Hong Kong Government for the Policy Address 2025 consultation.

As one of the world’s largest professional accounting bodies, CPA Australia has outlined proposed measures across five key areas:

Reinforcing Hong Kong’s role as an international financial centre
Developing Hong Kong into an international innovation and technology (I&T) hub
Promoting environmental, social and governance (ESG) and the green economy
Diversifying the economy
Developing, attracting and retaining talent.

Ms Karina Wong, Divisional President of CPA Australia in Greater China 2025, said: “Amid the uncertainties created by trade frictions with major economies, Hong Kong has demonstrated its unique advantages as a strategic gateway connecting mainland China and the world. We need to amplify our competitiveness to secure the city’s long-term economic vitality, for example, the free port status and unrivalled business environment.”

CPA Australia recommends the HKSAR Government considers introducing a Qualified Refundable Tax Credit (QRTC) scheme for multi-national enterprises in the maritime services and commodity trading sectors. A QRTC provides a more flexible and effective incentive structure that can help to boost these sectors.

“A QRTC would allow Hong Kong to better compete for multinational investment and reinforce its position as a premier international trade centre and shipping centre,” Ms Wong said. “We also propose expanding the scope of the half-rate tax concessionary regime for commodity trading to include the captive commodities traders serving group companies outside Hong Kong and include the financial commodity transactions, such as derivatives trading.”

Low-altitude economy is another area that CPA Australia supports to diversify the economy, for its potential to transform logistics, mobility, and urban planning.

Ms Wong added: “Hong Kong can lead in low-altitude innovation by establishing demonstration zones, collaborating with the Greater Bay Area on cross-border channels, and attracting global talent to this emerging sector. With strong research capabilities and a growing commitment to innovation and technology implementation – evidenced by the establishment of government-led Regulatory Sandbox pilot projects, Hong Kong is well-positioned to translate innovation into practical applications.”

An efficient and effective government process to deliver public services, and a green environment for sustainable development are crucial factors to do business, as well as to attract enterprises and investments to Hong Kong. Therefore, CPA Australia proposes a suite of initiatives including the promotion of a robust e-government framework.

Mr Cyrus Cheung, Deputy Divisional President of CPA Australia in Greater China 2025 said: “We suggest the Government considers modernising operations and implements a ‘tell us once’ compliance model for individual and business data access in a secure and convenient manner. For example, we propose introducing legislation to allow data sharing across relevant and approved government agencies, and to establish an integrated platform that enhances data management across governmental departments. To simplify the processes of public services, we also suggest the Government reduces its reliance on in-person authentication where appropriate, and consolidates government services onto a single platform, such as iAM Smart, which allows online authentication across different services.”

Mr Cheung also emphasised the importance of sustainable development in shaping Hong Kong’s future. He called for better alignment of the Hong Kong Taxonomy for Sustainable Finance with the international standards to attract investment in green projects.

“Energy policy is core in our sustainability goals. The taxonomy should reflect the role of various forms of low-carbon energy in supporting Hong Kong’s transition to a net-zero economy,” he said. “We also encourage the government to develop a standardised carbon trading framework and explore the Carbon Connect initiative to strengthen Hong Kong’s leadership position in green finance.”

Hong Kong’s sound financial system and free flow of capital continue to underpin strong investment inflows, and the city is poised to return to its position as the world’s top IPO market in 2025, Mr Kelvin Leung, Deputy Divisional President of CPA Australia in Greater China 2025, said. “Despite global uncertainties and trade tensions, Hong Kong’s capital market remained resilient, drawing more family offices to setup in the city and reinforcing its role as a preferred venue for fund raisings.

“Investors choose Hong Kong for investment and wealth management because we are globally connected, rule-of-law based and responsive to market needs. We should be more proactive in promoting Hong Kong as a dual listing destination for overseas companies, and we encourage the Government and relevant regulators to explore the feasibility of an “IPO Connect” mechanism, to meet growing mainland investor demand for access to global assets.”

To increase private market liquidity, CPA Australia suggests piloting an intermittent trading facility for private companies in a controlled environment. “This would offer growth-stage companies a stepping stone toward future public listings, supported by clear eligibility, proportionate disclosure and robust settlement safeguards,,” Leung said.

Mr Leung also highlighted opportunities in digital assets, “It is a notable step for Hong Kong to launch the ‘LEAP’ framework to develop a trusted and innovative digital-assets ecosystem. We welcome the Government’s move to promote the responsible expansion of stablecoins under a fit-for-purpose regulatory regime. The Government should also consider a clear roadmap for real-world asset (RWA) tokenisation that balances innovation with strong investor protection.”

CPA Australia has also proposed recommendations on strengthening SME cybersecurity such as to launch a CyberSafe SME Subsidy Programme and introduce a CyberSafe HK certification. We also suggest initiatives such as increasing maternity and paternity leave similar to other developed economies, to attract and retain talent.

Hashtag: #CPAAustralia

The issuer is solely responsible for the content of this announcement.

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with nearly 175,000 members in over 100 countries and regions, including more than 22,500 members in Greater China. CPA Australia is celebrating its 70^th anniversary in Hong Kong this year. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on issues affecting the accounting profession and the public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au

Media OutReach

Payment Options Singapore Secures In-Principle Approval from MAS for Major Payment Institution Licence

Published

18 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – Payment Options Pte Ltd, a Singapore-based payment solutions provider, is pleased to announce that it has received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence under the Payment Services Act 2019.

Payment Options Pte Ltd office in Singapore

This milestone underscores Payment Options’ commitment to supporting Singapore’s small and medium-sized enterprises (SMEs) with simple, secure, and accessible digital payment solutions.

If granted the licence, Payment Options Pte Ltd will be authorised to provide three regulated payment services: Merchant Acquisition, Domestic Money Transfer, and Cross-Border Money Transfer. Through these services, the company aims to empower SMEs with a full suite of payment capabilities — from online payment gateways and QR code payments to the upcoming SoftPOS payments technology — enabling merchants to accept digital payments easily and securely.

“We remain deeply committed to supporting Singapore’s SMEs as they grow and compete in an increasingly digital-first economy. Our vision is to position digital payments as a growth enabler — not a challenge — for small businesses”, said Aaron Yip, Director of Payment Options Pte Ltd. “Our goal is to make digital transactions seamless, secure, and accessible for every business, regardless of size.”

Building on this vision, if the licence is granted, Payment Options will continue to work closely with local merchants, financial institutions, and technology partners to enhance payment accessibility and drive innovation across Singapore’s SME ecosystem.

“We reaffirm our commitment to regulatory compliance and innovation, as we contribute to Singapore’s ongoing journey toward a secure, inclusive, and cash-lite economy.”

The IPA granted by the MAS indicates that a licence may be issued upon the fulfilment of specified conditions and provided there are no material adverse developments affecting the applicant. The IPA does not constitute a licence to provide payment services at this stage, and MAS reserves the right to rescind the approval if it deems appropriate.
Hashtag: #PaymentOptions

https://www.paymentoptions.com/
https://www.linkedin.com/company/payment-options/
https://www.facebook.com/PaymentOptions.int/
https://www.instagram.com/payment.options/

The issuer is solely responsible for the content of this announcement.

About Payment Options Pte Ltd

Payment Options Pte Ltd is a Singapore-based financial technology company providing innovative and secure payment solutions designed to help SMEs and merchants simplify digital transactions. With a focus on compliance, technology, and customer experience, the company aims to make digital payments accessible for every business.

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Financial Assistance at SIM: Breaking Barriers to Education

Published

19 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – For many aspiring learners, financial constraints remain one of the biggest obstacles to achieving their goals. SIM is determined to change that. Guided by the principle that no student should be left behind because of cost, SIM has built a comprehensive ecosystem of financial aid, scholarships, and bursaries to make quality education attainable for all.

At the heart of this mission is the SIM Impact Fund, a S$60 million initiative dedicated to empowering students from diverse backgrounds and ensuring that financial hardship never stands in the way of academic or personal growth. By blending need-based assistance with merit-driven opportunities, SIM is creating an inclusive learning environment where talent and ambition define success.

Empowering Learners Through the SIM Impact Fund

In 2024, SIM introduced the SIM Impact Fund, a S$60 million initiative dedicated to supporting students from lower-income households and ensuring that financial constraints do not hinder educational aspirations. Administered through SIM Trust, the fund is designed to empower learners within and beyond SIM’s community by removing barriers to access. Beginning in 2025, Singapore Citizens and Permanent Residents with a per-capita income of S$1,750 or below can benefit from tiered assistance, ranging from S$6,000 up to S$13,500 for those with PCI of S$600 or less, S$4,500 to S$6,750 for PCI between S$601 and S$1,000, and S$2,000 for PCI between S$1,001 and S$1,750. Beyond tuition aid, the fund also provides support for overseas internships and merit-based scholarships, benefiting approximately 500 students annually.

Beyond Tuition: Comprehensive Financial Aid

SIM’s commitment to learning accessibility goes far beyond tuition subsidies. Through its Financial Assistance schemes, students can tap into a range of support options tailored to different needs. These include Enhanced Bursaries Aid, which provide up to S$13,500 per year for Singapore Citizens, and a SIM GE Crisis Fund offering emergency relief of up to S$5,000 for unforeseen circumstances. In addition, SIM encourages global exposure through Study Abroad Awards, enabling students to broaden their horizons without financial strain. Together, these initiatives reflect SIM’s ethos of inclusivity and resilience, ensuring that financial challenges never derail academic aspirations.

Community-Focused Support

The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) exemplifies SIM’s deep-rooted commitment to community empowerment and social impact. Launched in July 2024 in partnership with the late Dr Eu’s family,

RESSEC received a combined S$8 million donation, S$6 million from the Eu family and S$2 million from SIM, marking a significant investment in nurturing social entrepreneurship. Guided by Dr Eu’s vision of transforming social service through ethical leadership and innovation, the Centre equips learners and social service professionals via initiatives such as a specialised postgraduate Diploma in Social Entrepreneurship, mentorship, and collaborative dialogues.

RESSEC also provides 12 bursaries of S$10,000 each for SIM Global Education students (check that this is accurate and that it’s not also extended to those outside the SIM ecosystem) who demonstrate strong community service and leadership and those with per-capita income up to S$1,750, prioritising those with per-capita income less than S$1,000. Through this initiative, SIM embeds purpose-driven learning into its mission, empowering students to create sustainable, positive impact in Singapore and beyond

Scholarship for Excellence

SIM offers a diverse range of scholarships under SIM Global Education to recognize excellence and resilience among its students. These include the SIM STARRR Award, which provides up to S$36,000 to outstanding achievers who demonstrate academic distinction and leadership qualities, and the Sports & Arts Talent Award, also valued at S$15,000 for students who excel in athletic or artistic pursuits. Additionally, the Chairman’s Award for Resilience grants S$3,000 to students who successfully balance work and study commitments, showcasing perseverance in the face of challenges. Together, these scholarships complement SIM’s need-based financial aid, creating a holistic support system that rewards merit while ensuring inclusivity.

Conclusion: Building a Future Without Barriers

SIM’s financial assistance framework is more than a set of policies, it is a promise to the community. By investing in initiatives like the SIM Impact Fund and expanding bursaries and scholarships, SIM is actively dismantling the barriers that prevent talented individuals from reaching their potential. This approach does not just benefit students, it strengthens society by cultivating a diverse pool of graduates equipped to lead, innovate, and give back. In a world where education often comes with a hefty price tag, SIM stands out as a beacon of accessibility and empowerment. For students and families seeking assurance that quality education is within reach, SIM offers not just hope but a clear, actionable path forward.

References:

Bursaries & Financial Aid (Enhanced) – https://www.sim.edu.sg/degrees-diplomas/admissions/bursaries-and-financial-aids
Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/ressec
The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) Opens to Advance Singapore’s Social Sector – https://www.sim.edu.sg/news-events/the-dr-richard-k-m-eu-sim-social-entrepreneurship-centre-%28ressec%29-opens
SIM Scholarship – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships
SIM’s STARRR Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-starrr-award-for-new-undergraduate-students
SIM Award and Sports & Artistic Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-scholarship
SIM Global Education Diploma Scholarships – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-diploma-scholarships
Chairman’s Award for Resilience – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/chairman-s-award-for-resilience

Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills

The issuer is solely responsible for the content of this announcement.

About SIM Global Education

SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.

SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.

For more information on SIM Global Education, visit sim.edu.sg

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Beyond Academic Excellence: SIM Scholarships Champion Leadership, Resilience, and Talent

Published

2 days ago

07/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 7 December 2025 – The Singapore Institute of Management (SIM) is proud to reaffirm its commitment to developing future-ready graduates through a comprehensive scholarship framework that goes beyond academic achievement. These scholarships are designed to recognize and nurture qualities such as leadership, resilience, and talent. These attributes are essential for success in today’s dynamic global environment.

For decades, scholarships have been synonymous with academic excellence. SIM is redefining this narrative by adopting a holistic approach that values character, contribution, and courage alongside academic performance. This initiative reflects SIM’s mission to prepare graduates who are adaptable, innovative, and socially responsible.

Scholarships That Go Beyond Academics

SIM’s scholarship ecosystem reflects its belief that success is multidimensional. Rather than focusing solely on grades, these awards celebrate qualities such as resilience, leadership, and talent. The SIM STARRR Award, for instance, supports freshmen who embody Resilience, Resourcefulness, and Responsibility, offering up to S$36,000 in tuition fees, along with living and exchange allowances, without any bond requirement.

For students who shine in sports or the arts, the SIM Award & Sports/Artistic Talent Award provides S$15,000, disbursed in two tranches, to help them balance academic and extracurricular excellence.

International students pursuing diploma programmes can benefit from the Diploma Scholarships, which cover up to 100% of course fees for academic excellence or 50% for merit-based achievements.

For working adults who have overcome significant challenges, the SIM Chairman’s Award for Resilience offers S$3,000, recognizing perseverance and determination in the face of adversity.

Stories That Inspire

SIM’s scholarships are more than financial aid. They are catalysts for transformation, opening doors for students to turn challenges into triumphs. Take Ernita Tanudjaja, an international student who refused to let pandemic disruptions derail her ambitions. Instead, she leveraged technology to livestream events and boost engagement, showcasing resilience and resourcefulness.

Similarly, Chow Kah Ying, an ICU nurse, managed the intense demands of frontline healthcare during COVID-19 while completing her degree, showcasing perseverance and purpose. Likewise, Michelle Seah transformed O-level failure into triumph, excelling in javelin and academics to earn the SIM Sports & Artistic Talent Award, proof that determination and discipline can rewrite any story.

These journeys reflect SIM’s unwavering belief that leadership and resilience matter as much as grades, and that true achievement lies in character and contribution as much as in academic performance.

The Broader Vision

SIM’s scholarships represent more than financial assistance. They serve as a strategic platform for transformation and growth. Recipients benefit from networking opportunities that connect them with alumni and industry leaders, fostering mentorship and career development. Many scholarships also provide international exposure through exchange programmes that broaden perspectives and enhance global competencies.

In addition to academic achievement, students cultivate essential life skills such as leadership, resilience and adaptability through experiential learning and community engagement. These qualities equip graduates to excel in uncertain environments and contribute meaningfully to society.

This commitment reflects SIM’s core belief that education is not limited to examinations. It is about shaping leaders who create impact and drive positive change in a rapidly evolving world.

References: