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Explanatory Notes

Note: Not all sections and items may be applicable to your company.
SECTION D - PROFILE OF EMPLOYMENT, 2019
  1. Persons working outside Singapore refers to employees who have been working outside Singapore for more than one year as at 30.06.2019 and on the Singapore company's payroll.
  2. Persons working in Singapore refers to paid employees, working directors / proprietor / partners and unpaid workers working in Singapore, including persons on medical and casual leave. It should include persons who have been working outside Singapore for one year or less as at 30.06.2019
  3. Paid employees refers to workers on the payroll of your establishment including part-time workers (working less than 35 hours in a normal week), and workers on commission basis paid directly by your establishment.
    • For firms engaged in Transport & Storage activities, please include crew onboard aircraft. Crew onboard vessels should be excluded and reported under "Crew onboard vessels".
  4. Working directors refers to members of Board of Directors actively engaged in the work of your establishment and paid by your establishment.
  5. Unpaid workers refers to workers of proprietor / partners who do not receive fixed wages and salaries, but may receive certain allowances. For non-profit organisations, Unpaid workers refers to persons working for the establishment for remuneration in kind (e.g. lecturers who conduct courses for free for an educational institution in return for the use of the institution’s research facilities).
SECTION E - REMUNERATION, 2019
  1. Wages and salaries refers to gross emoluments paid to employees, including commissions, bonuses and overtime pay before deduction of employee's contribution to CPF or any other deduction.
  2. Employer's contribution to CPF / pension fund refers to contribution by employers to employee's CPF / pension fund. It excludes pension and gratuities paid to retired employees which should be reported under SECTION I - EXPENSES.
  3. Staff benefits refers to medical benefits, cost of food, housing, travelling expenses to and from work and other benefits in kind provided to employed persons and valued at cost by your establishment. However, entertainment allowances, cost of uniforms, staff insurance premiums, retrenchment benefits, transport and hotel accommodation provided in connection with business travel should be reported under SECTION I - EXPENSES.
  4. Remuneration due to working directors / proprietor / partners refer to regular wages and salaries, contribution to CPF / pension fund and staff benefits paid to them. Any amount withdrawn by sole proprietors / partners other than remuneration should be excluded. For working directors, director's fees paid to them should also be included and reported under this section.
  5. Benefits to unpaid workers refers to remuneration to unpaid workers and should be included and reported under this section.
  6. Fees paid to non-working directors refers to fees paid to directors for attending board meetings only.
  7. Expenses on share-based payments to employees (include shares and stock options) refer to total expenses incurred from share-based payment transactions for employee performance shares or stock options which are offered by your establishment to working directors and employees as part of their remuneration package.
SECTION F - GROSS INCOME / RECEIPTS, 2019 (EXCLUSIVE OF GST)
  1. State the amount received and receivable from the various business activities during 2019. The amount collected in respect of previous year's receivables should be excluded.
  2. Please report business transactions with Singapore resident and firms as well as transactions with overseas clients.
  3. Retail is the sale of consumer goods to the general public for personal or household consumption. Retail sales exclude sales from concessionaires in department stores and supermarkets.
  4. Wholesale is the re-sale of new and used goods to retailers, to industrial, commercial, institutional or professional users; or to other wholesalers; or acting as agents or brokers in buying merchandise for, or selling merchandise to, such persons or companies.
  5. Wholesale Sales outside Singapore:
    1. Domestic exports refer to exports of Singapore origin. Comprises commodities grown or produced in Singapore and goods manufactured, assembled or processed in Singapore, including those with imported materials or parts.
    2. Re-exports refer to goods exported from Singapore in the same form as they have been imported (including goods that have undergone minor processing, such as re-packing, splitting into lots, sorting or grading, marking and the like). Includes transhipped goods consigned to a local party.
    3. Off-shore merchandise refer to traded cargoes which are billed, transacted or brokered in Singapore but shipped directly from the source to destination without entering Singapore at all.
    4. Transhipment cargo refer to goods that are moved across Singapore purely in the course of transportation to another country, and supported through bills of lading, airway bills or manifest without being consigned to a local party.
  6. Ready-to-Eat (RTE) are meals that are already prepared for immediate consumption (e.g. sandwiches, bag of ready-to-eat salad, pre-cut fresh fruits).This excludes food that require cooking before being eaten.
  7. Ready-to-Heat (RTH) are meals that are already prepared but require heating (e.g chilled and frozen ready meals).
  8. Ready-to-Cook (RTC) are semi-prepared meals that require cooking and final preparation of ingredients (e.g. meal kits).
SECTION I - EXPENSES, 2019 (EXCLUSIVE OF DEDUCTIBLE GST)
  1. State the amount paid and payable for the purchases of goods and services used in rendering services and for sale, and other expenses incurred during 2019.
  2. All purchases should be valued at delivered cost to your establishment irrespective of whether full payments have been made. They should include import and excise duties and should be net of rebates and discounts.
  3. Purchases of fixed assets (e.g. machinery and equipment) which are capitalise should be reported under SECTION O - STRUCTURE OF FIXED ASSETS IN SINGAPORE .
  4. Purchases of intangible assets which are capitalised should be reported under SECTION P - STRUCTURE OF INTANGIBLE ASSETS IN SINGAPORE
  5. Remuneration reported under SECTION E - REMUNERATION should be excluded.
  6. Purchases of computer software for own use (include development cost of customised software) refers to the purchase of both pre-packaged software (software that can be purchased or licensed "off-the-shelf" from commercial software vendors) and custom-designed software (software tailored to your organisation's specific needs whose development is out-sourced to third party software developers)
  7. Expenses on in-house development of software refers to expenses incurred in connections with the development of software carried out by your establishment's employees for own use for more than a year. It includes cost of materials and supplies, maintenance and repair of plant and equipment used for the software development, as well as all other development costs. It excludes expenses on routine maintenance and application support, which should be reported under "Servicing and repairing of machinery & equipment" . In-house expenses on software that is to be included into computers or equipment with the intention for sale should also be excluded.
  8. Total Expenses excludes the figures reported in “Principal repayment of Right-of-Use Lease liabilities”.
SECTION L - BOOK VALUE OF INVENTORIES, 2019 (EXCLUSIVE OF GST)
  1. Report all inventories owned by your establishment including materials and supplies for rendering services and goods for resale.
  2. In Singapore refers to inventories held in Singapore
  3. Outside Singapore refers to inventories held outside Singapore
SECTION M - WORK-IN-PROGRESS (WIP), 2019 (EXCLUSIVE OF GST)
  1. Please report work-in-progress undertaken by your establishment.
  2. In Singapore refers to work-in-progress undertaken in Singapore.
  3. Outside Singapore refers to work-in-progress undertaken outside Singapore.
  4. For real estate developers, work-in-progress refers to the total amount of development expenses for uncompleted projects undertaken by your establishment.
SECTION O - STRUCTURE OF FIXED ASSETS IN SINGAPORE, 2019 (EXCLUSIVE OF GST)
Please consolidate fixed assets figures of each establishment in the survey returns if applicable . Please report Right-of-Use (ROU) assets together with their respective fixed asset categories. .
  1. Net book value refers to cost of fixed assets net of accumulated depreciation. This will also include ROU assets arising from the adoption of SFRS(I)16.
  2. Additions (including major repairs) refers to the total cost of acquiring the assets, inclusive of import duty, registration fees, delivery and installation charges.
  3. Of which: Additions to Right-Of-Use Assets leased from others refers to the total cost of acquiring new ROU assets, inclusive of import duty, registration fees, delivery and installation charges.
  4. Land refers to the ground, including the soil covering and any associated surface waters, over which ownership rights are enforced. It can be empty or with buildings or other structures situated on it or running through it. However, the value of land should exclude any buildings or other structures situated on it or running through it.
  5. Building and structure consists of residential buildings and other buildings and structures, including fixtures, facilities and equipment such as storage tanks, water and sewerage systems, lifts and escalators, central cooling and ventilation equipment that are integral to the building and structure. Examples of other buildings and structures include commercial, institutional and industrial buildings, civil engineering works, industrial and power plants and public monuments. It also includes the costs of site clearance and preparation as well as major reconstruction and capitalised repairs and improvements.
  6. Transport equipment consists of equipment for moving people and objects. Examples include motor vehicles; trailers and semitrailers; railway locomotives and rolling stock; ships, boats and other floating structures (including floating or submersible drilling or production platforms) and aircraft. It also includes major reconstruction and capitalised repairs and improvements.
  7. Telecommunications equipment includes mobile phones, personal digital assistants (PDAs), satellite dishes, fibre optics, audio-visual equipment (e.g. radios, television sets); and other television / radio / microwave transmitters and receivers.
  8. Other machinery and equipment consists of machinery and equipment not classified in other asset categories. Examples include generators, engines and turbines; cranes and other lifting and handling equipment; electrical machinery and equipment; medical equipment and instruments; precision, optical and photographic instruments; accounting machinery (e.g. ATMs, cash registers and ticket-issuing machines); sports equipment; musical instruments; and other special purpose machinery. Tools that are relatively inexpensive and purchased at a relatively steady rate, such as hand tools, may be excluded. Machinery and equipment integral to buildings and structures should be excluded. Tools that are relatively inexpensive and purchased at a relatively steady rate, such as hand tools, may be excluded.
  9. Computers and peripheral equipment includes computers, servers (hardware), laptops, printers, copiers, fax machines etc.
  10. Furniture and fittings refers to furniture and lighting fixtures of a kind used in offices. It excludes medical, surgical, dental and veterinary furniture, which are treated as medical equipment and should be classified under Other Machinery & Equipment .
  11. Assets Under Construction refers to expenditure or cost recognised in the carrying amount of the property, plant and equipment under development. Cost associated with the assets should be transferred/reclassified to/from the appropriate asset category when the construction of the assets are completed and placed into service. Expenditure for assets that are developed/constructed for sale should be excluded.
SECTION P - STRUCTURE OF INTANGIBLE ASSETS IN SINGAPORE, 2019 (EXCLUSIVE OF GST)
Please consolidate intangible assets figures of each establishment in the survey returns if applicable.
  1. Copyrights of entertainment, literary and artistic works refers to ownership rights of literary, dramatic, musical and artistic works such as novels, plays, musical compositions, photographs and images, as well as, other subject-matter, such as films, sound recordings radio and television programmes and broadcasts.
  2. Patents and other industrial proprietary rights refers to ownership rights for intellectual property such as patents, industrial design and industrial expertise. Capitalised development expenditure of such intellectual property arising from in-house development activities (includes cost of labour, materials and supplies, maintenance and repair of plant and equipment used, and other development costs) should also be included.
  3. Computer software consists of computer programs, program descriptions and supporting materials for both systems and applications software. The value includes:
    • Capitalised pre-packaged software (software that is purchased or licensed 'off-the-shelf' from commercial software vendors)
    • Capitalised customised software (software tailored to the organisation's specific needs whose development is out-sourced to third-party software developers)
    • Software reproduction / distribution rights
    • Capitalised in-house software development for own use (includes cost of labour of software professionals, materials and supplies, maintenance and repair of plant and equipment used, and other development costs); development expenses on software meant for sale (with / without hardware) should be excluded
  4. Goodwill and marketing assets . Goodwill refers to the value of assets acquired in a business combination that are not individually identified and separately recognised. Marketing assets include brand names, mastheads and publishing titles, trademarks, logos and domain names.
  5. Other intangible assets includes exploration and evaluation assets, service and operating rights, other licences, etc.
  6. Assets under development refers to expenditure or cost recognised in the carrying amount of the intangible assets under development. Cost associated with the assets should be transferred/reclassified to/from the appropriate asset category when the development of the assets are completed and placed into service. Expenditure for assets that are developed/constructed for sale should be excluded.
SECTION R - DEVELOPMENT EXPENSES, 2019 (EXCLUSIVE OF DEDUCTIBLE GST)
Report the detailed items of development expenses incurred during 2019. It should exclude those current operating expenses already reported under SECTION I - EXPENSES.

SECTION A - INCOME/EXPENSES
  • Wholesale Sales in Singapore refers to the amount received or receivable from trading of goods within Singapore, with other manufacturers, wholesalers and retailers.
  • Wholesale Sales Outside Singapore refers to the amount received or receivable from re-exports, exports of goods manufactured in Singapore, offshore merchandise and transhipment cargo.
  • Retail Sales and Other Receipts refers to all other income derived from retail sales, commissions, service charges, administrative & management fees, royalties and other sources of operating income.
  • Operating Receipts / Revenue generally refers to fees or income earned from the provision of services and goods sold. It includes fees earned from the provision of consultancy & professional services, management & administrative fees, repairs/servicing charges, rental or lease income (except from land and finance leases), contract, subcontract and commission fees, royalties & license fees and any other operating income. Government subvention/subsidy on healthcare, education and childcare services to patients, students and parents should also be included. Business transactions with Singapore residents and firms as well as transactions with overseas clients are to be reported.

    Amount should exclude Goods & Services Tax (GST) and non-operating revenue such as gifts, loans, contributions, rental from land, grants, taxes and gross receipts collected on behalf of others.

    For firms operating on a commission basis e.g. ticketing agencies, money changers and remittance services, you should report the commission earned and not the total value of the sales on which commissions were paid.

    For local branches of foreign airlines and foreign shipping lines, operating receipts refers to the reimbursement from their head offices for the operating expenditure they incurred.
  • E-commerce Revenue refers to the revenue earned from the sale of goods and services whereby your company receives orders or agrees on the price and terms of sale via online means, e.g. through your company's website, third-party websites, mobile applications, extranet or Electronic Data Interchange (e.g. GeBIZ). Payment and delivery may or may not be made online.
  • Operating Expenditure Excluding Remuneration, Depreciation and Indirect Taxes refers to all current expenditure incurred by the establishment in its business with adjustment for changes in inventory. It includes expenses incurred from purchases of goods & materials for own use and resale, rental expenses for operating leases, work given out, rental & maintenance of machinery, equipment & premises, legal, accounting & other professional services, transport & travelling, utilities, advertisement, entertainment, stationery & printing, post, courier & telecommunications, fuel & lubricants, cargo handling expenses, port charges, charter fees and other general expenses that are connected with the establishment's operation.

    Amount should exclude deductible GST, remuneration paid, indirect taxes (e.g. road tax, property taxes, foreign workers levy, licence fees and stamp duties), depreciation and non-operating expenses such as goodwill, bad debts, renovation & major repairs and assets written off.

    For local branches of foreign airlines and foreign shipping lines, operating expenditure refers only to expenditure incurred by the branch offices in providing support services to their head offices (i.e. foreign airlines and foreign shipping lines) and expenditure paid by them on behalf of their head offices.
  • Remuneration refers to total remuneration of employees, crew onboard vessels or aircraft and working directors which includes wages and salaries, commissions, bonuses, overtime pay, CPF contributions and other benefits such as medical benefits, cost of food, accommodation and other benefits in kind provided by employers but excludes gratuities and retrenchment benefits. Remuneration also includes directors' fee, e.g. amount for attending board of directors' meetings. Remuneration of staff working outside Singapore and working proprietors and partners should be excluded.
SECTION B - STRUCTURE OF FIXED ASSETS IN SINGAPORE (EXCLUSIVE OF GST)
Fixed Assets of operating leases should be excluded.
  • Net book value refers to cost of fixed assets net of accumulated depreciation.
  • Additions (including major repairs) refers to the total cost of acquiring the assets, inclusive of import duty, registration fees, delivery and installation charges.
  • Land refers to the ground, including the soil covering and any associated surface waters, over which ownership rights are enforced. It can be empty or with buildings or other structures situated on it or running through it. However, the value of land should exclude any buildings or other structures situated on it or running through it.
  • Building and structure consists of residential buildings and other buildings and structures, including fixtures, facilities and equipment such as storage tanks, water and sewerage systems, lifts and escalators, central cooling and ventilation equipment that are integral to the building and structure. Examples of other buildings and structures include commercial, institutional and industrial buildings, civil engineering works, industrial and power plants and public monuments. It also includes the costs of site clearance and preparation as well as major reconstruction and capitalised repairs and improvements.
  • Transport equipment consists of equipment for moving people and objects. Examples include motor vehicles; trailers and semitrailers; railway locomotives and rolling stocks; ships, boats and other floating structures (including floating or submersible drilling or production platforms); and aircrafts. It also includes major reconstruction and capitalised repairs and improvements.
  • Telecommunications equipment includes mobile phones, personal digital assistants (PDAs), satellite dishes, audio-visual equipment (e.g. radios, television sets); and other television/radio transmitters and receivers.
  • Other machinery and equipment consists of machinery and equipment not classified in other asset categories. Examples include generators, engines and turbines; cranes and other lifting and handling equipment; electrical machinery and equipment; medical equipment and instruments; precision, optical and photographic instruments; accounting machinery (e.g. ATMs, cash registers and ticket-issuing machines); sports equipment; musical instruments; and other special purpose machinery. Tools that are relatively inexpensive and purchased at a relatively steady rate, such as hand tools, may be excluded. Machinery and equipment integral to buildings and structures should also be excluded.
  • Computers and peripheral equipment includes computers, servers (hardware), laptops, printers, copiers and fax machines.
  • Furniture and fittings refers to furniture and lighting fixtures of a kind used in offices.

Item 2a: Total number of persons engaged as at end period
This refers to paid employees (those in your payroll, including part-time workers and workers on commission basis paid directly by your establishment), working proprietors/partners/directors and unpaid family workers including persons on medical and casual leave.

Item 2b and 3: Operating receipts (exclude Goods and Services Tax)
This generally refers to fees or income earned from the provision of services and goods sold.
Amount should exclude Goods & Services Tax (GST) and non-operating revenue.

For specific industries, please refer to the more specific definition on operating receipts:
Firms operating on a commission basis (e.g. ticketing agencies and freight forwarders)
This refers to the commission earned and not the total value of the sales on which commissions were paid.
Wholesalers
This refers to the amount received or receivable from trading with other manufacturers, wholesalers and retailers in Singapore. It also includes that from re-exports, exports of goods manufactured in Singapore, offshore merchandise and transhipment cargo. Manufacturing and retail sales should be excluded.
Motor vehicle dealers
This refers to the gross value of all vehicles sold, including both sales for cash and credit. The value of Certificate of Entitlement (COE), Additional Registration Fee (ARF), Registration Fee (RF), Import Duty (ID), Road Tax and Insurance Premiums should be excluded.
Banks, finance companies and other financial institutions
This refers to total interest earned form loans and advances, securities, bills and negotiable certificate of deposit (NCD), commissions, gains on foreign exchange transactions and other income.
Stock and share brokers
This refers to total commissions earned on share/stock transactions.
Foreign exchange brokers
This refers to total brokerage fees earned on foreign exchange transactions.
Insurance companies
This refers to total amount of premiums received and receivable.
Real estate developers
This refers to downpayment and progressive payment received on property sold. This also includes service charges received.
Property agents
This refers to total value of services rendered including commissions earned.

SECTION A - INCOME/EXPENSES
  • Wholesale Sales in Singapore refers to the amount received or receivable from trading of goods within Singapore, with other manufacturers, wholesalers and retailers.
  • Wholesale Sales Outside Singapore refers to the amount received or receivable from re-exports, exports of goods manufactured in Singapore, offshore merchandise and transhipment cargo.
  • Retail Sales and Other Receipts refers to all other income derived from retail sales, commissions, service charges, administrative & management fees, royalties and other sources of operating income.
  • Operating Receipts / Revenue generally refers to fees or income earned from the provision of services and goods sold. It includes fees earned from the provision of consultancy & professional services, management & administrative fees, repairs/servicing charges, rental or lease income (except from land and finance leases), contract, subcontract and commission fees, royalties & license fees and any other operating income. Government subvention/subsidy on healthcare, education and childcare services to patients, students and parents should also be included. Business transactions with Singapore residents and firms as well as transactions with overseas clients are to be reported.

    Amount should exclude Goods & Services Tax (GST) and non-operating revenue such as gifts, loans, contributions, rental from land, grants, taxes and gross receipts collected on behalf of others.

    For firms operating on a commission basis e.g. ticketing agencies, money changers and remittance services, you should report the commission earned and not the total value of the sales on which commissions were paid.

    For local branches of foreign airlines and foreign shipping lines, operating receipts refers to the reimbursement from their head offices for the operating expenditure they incurred.
  • E-commerce Revenue refers to the revenue earned from the sale of goods and services whereby your company receives orders or agrees on the price and terms of sale via online means, e.g. through your company's website, third-party websites, mobile applications, extranet or Electronic Data Interchange (e.g. GeBIZ). Payment and delivery may or may not be made online.
  • Operating Expenditure Excluding Remuneration, Depreciation and Indirect Taxes refers to all current expenditure incurred by the establishment in its business with adjustment for changes in inventory. It includes expenses incurred from purchases of goods & materials for own use and resale, rental expenses for operating leases, work given out, rental & maintenance of machinery, equipment & premises, legal, accounting & other professional services, transport & travelling, utilities, advertisement, entertainment, stationery & printing, post, courier & telecommunications, fuel & lubricants, cargo handling expenses, port charges, charter fees and other general expenses that are connected with the establishment's operation.

    Amount should exclude deductible GST, remuneration paid, indirect taxes (e.g. road tax, property taxes, foreign workers levy, licence fees and stamp duties), depreciation and non-operating expenses such as goodwill, bad debts, renovation & major repairs and assets written off.

    For local branches of foreign airlines and foreign shipping lines, operating expenditure refers only to expenditure incurred by the branch offices in providing support services to their head offices (i.e. foreign airlines and foreign shipping lines) and expenditure paid by them on behalf of their head offices.
  • Remuneration refers to total remuneration of employees, crew onboard vessels or aircraft and working directors which includes wages and salaries, commissions, bonuses, overtime pay, CPF contributions and other benefits such as medical benefits, cost of food, accommodation and other benefits in kind provided by employers but excludes gratuities and retrenchment benefits. Remuneration also includes directors' fee, e.g. amount for attending board of directors' meetings. Remuneration of staff working outside Singapore and working proprietors and partners should be excluded.
SECTION B - STRUCTURE OF FIXED ASSETS IN SINGAPORE (EXCLUSIVE OF GST)
Fixed Assets of operating leases should be excluded.
  • Net book value refers to cost of fixed assets net of accumulated depreciation.
  • Additions (including major repairs) refers to the total cost of acquiring the assets, inclusive of import duty, registration fees, delivery and installation charges.
  • Land refers to the ground, including the soil covering and any associated surface waters, over which ownership rights are enforced. It can be empty or with buildings or other structures situated on it or running through it. However, the value of land should exclude any buildings or other structures situated on it or running through it.
  • Building and structure consists of residential buildings and other buildings and structures, including fixtures, facilities and equipment such as storage tanks, water and sewerage systems, lifts and escalators, central cooling and ventilation equipment that are integral to the building and structure. Examples of other buildings and structures include commercial, institutional and industrial buildings, civil engineering works, industrial and power plants and public monuments. It also includes the costs of site clearance and preparation as well as major reconstruction and capitalised repairs and improvements.
  • Transport equipment consists of equipment for moving people and objects. Examples include motor vehicles; trailers and semitrailers; railway locomotives and rolling stocks; ships, boats and other floating structures (including floating or submersible drilling or production platforms); and aircrafts. It also includes major reconstruction and capitalised repairs and improvements.
  • Telecommunications equipment includes mobile phones, personal digital assistants (PDAs), satellite dishes, audio-visual equipment (e.g. radios, television sets); and other television/radio transmitters and receivers.
  • Other machinery and equipment consists of machinery and equipment not classified in other asset categories. Examples include generators, engines and turbines; cranes and other lifting and handling equipment; electrical machinery and equipment; medical equipment and instruments; precision, optical and photographic instruments; accounting machinery (e.g. ATMs, cash registers and ticket-issuing machines); sports equipment; musical instruments; and other special purpose machinery. Tools that are relatively inexpensive and purchased at a relatively steady rate, such as hand tools, may be excluded. Machinery and equipment integral to buildings and structures should also be excluded.
  • Computers and peripheral equipment includes computers, servers (hardware), laptops, printers, copiers and fax machines.
  • Furniture and fittings refers to furniture and lighting fixtures of a kind used in offices.

GENERAL DEFINITIONS
  1. This survey covers funds under:
    1. discretionary management
      • Funds managed in-house by company where company has substantial input in the investment management process, and where it has the authority to make investment decisions.
    2. non-discretionary management
      • Funds under the advisory service of company where company has the authority to make investment decisions after seeking authorization from clients.
      • Funds contracted by company but managed on a discretionary basis by another party.
    Important:
    If your company engaged in other resident fund managers to manage funds or managed funds on behalf of other resident fund managers, please make the necessary arrangements to ensure that only one party reports the relevant information to avoid double-counting. Please also exclude clients' investments entrusted to external resident nominee and custodian companies.
  2. Residents refer to:
    1. Persons whose main centre of interest is in Singapore or whose residence in Singapore exceeds one year.
    2. Companies whose permanent or registered address is in Singapore, including branches and subsidiaries of foreign companies located within Singapore.
  3. Non-Residents refer to:
    1. Persons whose permanent or registered address is outside Singapore.
    2. Companies whose permanent or registered address is outside Singapore, including overseas branches and subsidiaries of Singapore-registered companies or institutions.
  4. Investment Funds include mutual funds, unit trusts, insurance-linked funds, private equity funds, venture capital funds, and other investment vehicles that are made up of a pool of funds collected from pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments, and similar assets. They should be valued based on the net asset value. Any preliminary or realization charges associated with the sale or purchase of shares/units should be excluded.
  5. Equities include ordinary shares, stocks, participating preference shares and depository receipts, but exclude non-participating preference shares, debt securities and derivative instruments.
  6. Market Value of Equity Securities: For listed equities, the market value should be calculated using the market price on the stock exchange at the specified date. For equities of unlisted enterprises, if the market value is not available for the specified date, estimate the value using (a) a recent transaction price, or (b) director's valuation, or (c) net asset value.
  7. Long-Term Debt Securities have an original term to maturity of over one year. It includes treasury bonds, non-participating preference shares, bonds with optional maturity dates (the latest of which is more than one year after issue), debentures, negotiable certificates of deposits with contractual maturity of more than one year.
  8. Short-Term Debt Securities have an original term to maturity of not more than one year. It includes treasury bills, bankers' acceptance, negotiable certificates of deposit with original maturity of one year or less, promissory notes and other short-term notes.
  9. Market Value of Debt Securities: Debt securities should be reported using (a) a quoted trade market price at the dates specified, or (b) the net present value of the expected stream of future payments/receipts associated with the securities.
  10. Currency and Deposits consist of deposits placed with financial institutions. Funds held in the form of deposits should be reported as invested in the country in which they were deposited. Amount placed in margin accounts used for the payments of cash or deposits of collateral that cover actual or potential obligations incurred through Derivative Contracts should also be included.
  11. Derivative Contracts are linked to a specific financial instrument or indicator or commodity, and through which specific financial risks can be traded in financial markets in their own right. They are broadly classified into the various contract types:
    • Forwards - Contracts that represent agreements for delayed delivery of financial instruments or commodities in which the buyer agrees to purchase and the seller agrees to deliver, at a specified future date, a specified commodity or instrument at a specified price or yield.
    • Futures - Contracts that represent agreements for delayed delivery of financial instruments in which the buyer agrees to purchase and the seller agrees to deliver, at a specified future date, a specified instrument at a specified price or yield. Such contracts are standardized and are traded on organized exchanges.
    • Options and Warrants - Contracts that convey either a right or an obligation to buy or sell a financial instrument at a specified price by a specified future date. Options traded on organised exchanges usually grant rights over assets that are already available, while the exerinvestment funde of warrants creates new securities which dilute the capital of existing bond or shareholders.
    • Swaps - Contracts in which two parties agree to exchange payment streams based on a specified notional amount for a specified period. Forward starting swaps should be reported as swaps.
    • Other Derivatives - Other derivatives contracts not classified in the above categories, e.g. credit derivatives.
  12. Market Value of Derivative Contracts: For Forward and Futures, the market value is derived from the difference between the agreed-upon contract price and the (expected) prevailing market price on the day of settlement times the principal amount, appropriately discounted. For Swap contracts, the market value is derived from the difference between the expected gross receipts and gross payments, appropriately discounted-that is,

    its net present value. Market values for Options and Warrants can be obtained from either (a) the prevailing market prices if traded in the financial market, or (b) using standard pricing models such as the Black-Scholes Model where no comparable market price exists.

    To reduce reporting burden, you may report the net amount for (i) contracts with same counterparty; and (ii) contracts that are carried out at net values in your accounting records and financial statements in accordance with Financial Reporting Standard (FRS) 39. Otherwise, do not combine, aggregate or net the market value of different contracts. For contracts with negative market valuation, they should be reported accordingly as a negative value, i.e., with a minus sign.
  13. Other Assets and Liabilities include other miscellaneous accounts receivable/payable. For these items, please also report the type of instrument and its gross market value (an estimate would suffice if the exact value is unavailable).
  14. Net Transactions is the net increase or decrease in the value of investment due to sale or purchase of financial instruments during the period (i.e., net transactions = gross purchases minus gross sales). Transaction changes should be valued at the transacted price. For Derivatives Contracts, record the values of net transactions for the various contract types according to the following:
    • Forwards - Report cash received or paid upon maturity or settlement of forward agreements. Do not report the amount received or paid upon settlement of a forward with a security or other non-cash asset.
    • Futures - Report the cumulative periodic payment or receipt from an exchange as a result of the change in value of the futures contracts, including the final cash settlement of futures contracts. Do not report the value of futures that proceed to final delivery of the underlying asset.
    • Options and Warrants - Report premiums paid for options and warrants. For exercised options and warrants where settlement is only in cash, report the net payment of cash upon exercise. Do not report the exercise of the option and warrant where securities, commodities, and assets other than cash are purchased or sold, as these should be treated as a transaction in that security or commodity instead of as derivatives.
    • Swaps - Report the net amount of cash received or paid upon maturity or termination of a swap and any periodic net cash settlement payments under the terms of a swap, including premiums actually paid or received on swaps contracts. Do not report transactions if the ownership of a security, commodity or other non-cash item changes hands without premiums.
  15. Exchange Rate Changes refer to gains/losses in the value of investment due to exchange rate variations. Other Changes refer to gains/losses due to other factors, e.g. changes in price and revaluation of investment.
  16. Income refers to dividends and interest receivable from investments (SECTIONS B), or dividends and interest receivable on behalf of non-residents for their investment in Singapore (SECTION C). Income should be reported net of tax payable.
  17. In SECTION B, Country refers to the country of residence of the issuer of the financial instrument. For example, investment in listed equities issued by a Malaysian incorporated company should be classified as "Malaysia" even if the shares are traded on the New York Stock Exchange.
    In SECTION C, Country refers to the country of residence of the ultimate owner whose funds are invested by your company in Singapore.
EXAMPLE TO ILLUSTRATE THE REPORTING IN SECTION A, SECTION B AND SECTION C
For example, your investor portfolio contained 1 Singapore retail investor investing $100,000 in Singapore debt securities, 1 Singapore institutional investor and 1 United States institutional investor investing $200,000 and $800,000 in a non-Singapore domiciled investment fund respectively, and 1 Singapore institutional investor and 1 Malaysia institutional investor investing $400,000 and $600,000 in a Singapore domiciled investment fund respectively as at 31 Mar 2016. Subsequently, the market value of the Singapore debt securities fell to $90,000 while the market value of the non-Singapore domiciled investment fund and Singapore domiciled investment fund increased to $1,200,000 as at 30 Jun 2016. For simplicity, the information on "Changes during the period" is ignored here.
Investor Portfolio
Investor Market Value as at 31 Mar 2016 Market Value as at 30 Jun 2016 Financial Instrument
Singapore Retail Investor $100,000 $90,000 Singapore debt securities traded not traded in SGX
Bermuda domiciled investment fund
Singapore Institutional Investor $200,000 $240,000+ 40% in Singapore equities not traded in SGX
United States Institutional Investor $800,000 $960,000 60% in Singapore equities not traded in SGX
Singapore domiciled investment fund
Singapore Institutional Investor $400,000 $480,000 50% in Singapore equities traded in SGX
Malaysia Institutional Investor $600,000 $720,000 50% in Indonesia equities not traded in SGX
+Derived by using the % shares of the investment fund (20%) held by Singapore invest times the total market value of the investment fund of $1,200,000.

The reporting under SECTION A should then be:
SECTION A1
Type of Investment Instruments OPENING POSITION
($'000)
CLOSING POSITION
($'000)
Investment Fund
(i) of which managed on behalf of Resident Retail Investors* 0 0
(ii) of which managed on behalf of Resident Institutional Investors 600 720
Other Investments Instruments^
(iii) of which managed on behalf of Resident Retail Investors* 100 90
(iv) of which managed on behalf of Resident Institutional Investors 0 0
Investment Fund and Other Investment Instruments^
(v) of which managed on behalf of Non-Resident Investors by their Country of Residence 1,400 1,680
United States 800 960
Malaysia 600 720
Total Market Value of Funds 2,100 2,490
SECTION A2
Investment of Funds OPENING POSITION
($'000)
CLOSING POSITION
($'000)
Funds invested in Singapore 1,600 1,890
Funds invested in the Rest of the World 500 600
Total Market Value of Funds 2,100 2,490
Using the same example, the reporting under SECTION B and C should then be as follows:

SECTION B1
Country of Investment OPENING POSITION
($'000)
CLOSING POSITION
($'000)
Financial Instrument
Bermuda 200 240 Investment Funds
Total 200 200
SECTION B2
Country of Investment OPENING POSITION
($'000)
CLOSING POSITION
($'000)
Financial Instrument
Singapore 100 90 Debt Securities
Indonesia 500 600 Equities
Total 600 690
SECTION C1
Country of Residence of Non-Resident Investors OPENING POSITION
($'000)
CLOSING POSITION
($'000)
Financial Instrument
Malaysia 600 720 Investment Funds
Total 600 720
SECTION C2
Country of Residence of Non-Resident Investors OPENING POSITION
($'000)
CLOSING POSITION
($'000)
Financial Instrument
Bermuda 600 720 Debt Securities
Total 600 720