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Posts Tagged ‘Dyson’

“The appeal of Singapore is zero tax”

In Economy, EDB on 24/01/2019 at 6:50 am

The above is the headline of a side article from the FT on Dyson’s move to shift its HQ here, though the main reason for the move seems to be to

liberate the business from UK disclosure rules for privately-owned companies, which Sir James has previously criticised as giving too much away to foreign competitors.

Main FT article

The text of “The appeal of Singapore is zero tax” reads

One of Singapore’s strongest appeals for foreign companies is the potential to lower their tax rate to zero per cent.

The headline rate of corporate tax is 17 per cent, a level that the UK will match from 2020, down from 19 per cent at present.

However, a combination of incentive schemes, which include an international headquarters award, can bring the country’s rate down to nothing.

“It is very very rare, but it has happened in the past,” said Chris Woo, tax leader at PwC Singapore.

Another corporate tax expert said it was “not impossible” for Dyson to snatch the 0 per cent corporate tax rate given it produces high-end goods that would transfer technology to Singapore; it will probably increase capital expenditure and high-skilled headcount; and it would boost R&D activity in the country — all of which is of interest to Singapore.

Dyson on Tuesday said it would expand its Singapore Technology Centre and that “an increasing proportion” of Dyson’s executive team will be based in the south-east Asian nation given a growing majority of the company’s customers and manufacturing operations are based in Asia.

In addition, the Singapore Economic Development Board offers companies tax exemptions or concessionary tax rates of 5 or 10 per cent for up to five years, with the possibility of extension.

To qualify, companies must boost employment, generate investment that spills over to the local economy and commit to developing technology, knowhow and skills in the city state, according to the EDB.

“The EDB must have pulled out all the stops to convince Dyson to relocate its headquarters,” said Eugene Tan, law professor at Singapore Management University.

Kiren Kumar, assistant managing director at the EDB, said: “Singapore and Dyson have enjoyed a strong partnership for more than ten years.

“Dyson has grown from a small team developing motors to 1,100 employees undertaking a variety of functions including supply chain management, advanced manufacturing and R&D”.

Stefania Palma

Related posts: What ST & CNA not saying abt Dyson’s move of HQ to S’pore and Ang moh manufacturer employs more people here than in China and planning to employ a lot more.

 

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What ST & CNA not saying abt Dyson’s move of HQ to S’pore

In Economy, Media on 23/01/2019 at 7:31 am

There’s a lot of news in the constructive, nation-building CNA and ST about Dyson moving its HQ here from Malmesbury in Wiltshire.

Big catch for S’pore?

Only two employees, Dyson’s chief financial officer and its chief legal officer, will move to Singapore, according to the FT and the BBC. Not that S’pore is not important to Dyson and vice versa.

Dyson has facilities (R&D and manufacturing) here and in October announced plans to build its new electric car in its new factory there: Ang moh manufacturer employs more people here than in China and planning to employ a lot more.

Dyson Ltd is a British technology company that designs and manufactures household appliances such as vacuum cleaners, air purifiers, hand dryers, bladeless fans, heaters and hair dryers. Most of its products are designed in the UK, but manufactured in Asia.

Vote wisely.

Don’t be taken in by BS and fake news both from the constructive, nation-building, “PAP knows best” MSM, and Terry’s Indian Goons, the Indians Idiots and other anti-PAP alt media publications.

The truth is out there, and is usually easily found by splitting the difference.

 

 

 

 

Ang moh manufacturer employs more people here than in China and planning to employ a lot more

In Economy, EDB on 29/10/2018 at 1:49 pm

Dyson which already has facilities here (and employs more people than in China — see below) is to build the first of its electric cars in Singapore, choosing the country over the UK and China.

Privately owned by one  Mr Dyson, Dyson is planning to break into the automotive industry with a series of electric vehicles, using its existing knowledge in batteries and electric motors to give it the edge over established manufacturers. It manufactures and sells hairdryers, vacuum cleaners and air filters.

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Something that alt media doesn’t tell S’poreans

The PAP govt is attracting advanced manufacturing here and Dyson shows this.

Advanced manufacturing is a priority for Singapore, which deems it a way to raise productivity at a time when the city-state has struggled to maintain high levels of efficiency.

FT

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The FT reports

Singapore’s incentives include tax breaks for five years, which can be extended, and R&D grants that can cover up to 30 per cent of the cost of projects that involve product, application or process development, according to the Singapore Economic Development Board. They also offer expensive land at discounted rates, says a person with experience of Singapore’s economic planning. “They definitely would have given [Dyson] a favourable tax break,” they add.

Dyson refuses to reveal the scale of its investment, though the EDB’s Kiren Kumar says the company would double its 1,000-strong workforce in the country through the investment.

For Dyson, which says its Singapore investment was premised on market access rather than incentives, no amount of government support can remove the need to pour its own resources into the venture.

Electric cars will be made here?

In Uncategorized on 01/03/2018 at 1:45 pm

Dyson best known in the UK  for its vacuum cleaners and hand dryers ( But”Japan, China, Taiwan and Korea together accounting for almost three quarters of 2017 sales.”), caused a stir when it announced plans for a battery powered vehicle.

Dyson already has a 400-strong team working on the project and has doubled the number of scientists working on its battery programmes over the past year. It plans to hire another 300 engineers.

The BBC reports that it “is yet to decide where its electric cars – once they have been designed – will be manufactured.

‘The UK is reported to be in contention for the work, along with Singapore, Malaysia and China.” It makes its products in M’sia.

Bet u EDB will throw our money at Dyson.