RAFFLES PLACE, Singapore
- March 2, 2020
-- In a bid to support and stabilise small and medium sized companies (SMEs) in Singapore, the country's leading corporate services provider - InCorp Global – has launched a new initiative called the Financial and Operational Resiliency – Enterprise Programme ("FOR-EP")
. This programme aims at helping Singapore SMEs which are grappling with declining profitability, high-gearing ratio, as well as are facing negative cash-flow position to uplift and tackle challenging times ahead.
In essence, FOR-EP is a highly customised diagnostic tool to highlight the prevailing and future risks associated with running a business, from both profitability and cash flow perspectives. The tool inherently understands one's business, while capturing the cost drivers and revenue models in a snapshot, thereby deriving solutions more efficiently.
"The year 2020 is marked by tectonic shifts in our operating environment and major uncertainties. Just as Singapore is beginning to recover from its weakest economic growth in 2019 since the 2008 Financial Crisis, the recent unrest in Hong Kong coupled with the COVID-19 outbreak has further impacted our tourism, logistics and aviation industries. Besides dampening our visitor arrivals, the virus outbreak has also disrupted supply chains and created ripple effects on all sectors of our economy. FOR-EP is InCorp's response to all these, aimed at helping Singapore companies navigate these difficult times," explained Terence Ng, Chief Operating Officer at InCorp Global.
Meanwhile, FOR-EP, with a set of financial KPIs, provides solutions in a three-fold manner – creates a simplified financial model giving the company a forward view based on current operating conditions; identify the weaknesses in one's business model; and generates customised FOR reports which provide immediate remedies to challenges.
"What we need from companies is just a brief description of its business, as well as audited financial statements and management accounts of the past two years, and management accounts for the current year to get a FOR report. Depending on the findings, our team of advisors can further assist companies in revenue modeling, cost analysis, cash-flow management, what-if analysis, working capital, mergers, and acquisitions, acquiring talented human resources, providing information and application of relevant government support schemes, and in setting up controls and designing standard operating procedures,"
"As the name itself suggests, with assistance from FOR-EP, firms in Singapore would be able to better respond to distresses in the economy and to build continuity to tackle future challenges,"
Learn more at: https://www.incorp.asia/singapore/services/business-advis...