FACULTY OF BUSINESS MANAGEMENT

BUSINESS STUDIES (BA111)

INTRODUCTION TO INTERNATIONAL BUSINESS

(MGT361)

THE WORLD AROUND YOU

(SINGAPORE)

MBA1115D

PREPARED BY
1. MUHAMMAD HAZIQ BIN ROSLY (2019456378)

2. MUHAMMAD NAZRI BIN AZLAN (2019436036)

3. IZNI FARISHA BINTI FAIZUL ZAZMAN (2019663226)

4. EZZA SHADZRINA BINTI JUMMEY (2019280364)

5. NURIN FAQIHAH BINTI AZRI (2019660298)

PREPARED FOR
DR. MUHAMMAD SYUKRI BIN ABDULLAH

SUBMISSION
14 JANUARY 2021

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 TABLE OF CONTENT

NO CONTENT PAGES
1. 1.0 COUNTRY PROFILE / BACKGROUND SINGFAPORE 4
2. 2.0 LEGAL AND POLITICAL 5
3. 3.0 CULTURE 7
3.1 SOCIAL STRUCTURE 7
3.2 LANGUAGES 8
3.3 COMMUUNICATION 8
3.3.1 VERBAL COMMUNICATION 8
3.3.2 NON-VERBAL COMMUNICATION 9
3.4 RELIGION 9
3.5 VALUE AND ATTITUDE 10
3.5.1 MERITOCRACY 10
3.5.2 RACIAL HARMONY 10
3.5.3 DEMOCRACY 11
3.6 BUSINESS ETTIQUETTE 10
4. 4.0 DEMOGRAPHIC FACTOR 12
4.1 DEMOGRAPHIC TRENDS 12
4.1.1 POPULATION SIZE AND GROWTH BY 12
RESIDENTAL STATUS
4.1.2 AGE DISTRIBUTION OF RESIDENTS PUPOLATION 14
4.1.3 DEMOGRAPHIC TREND BY ETHNIC GROUP 15
4.1.4 DEMOGRAPHIC TREND BY INCOME 16
5. 5.0 POPULATION 16
6. 6.0 RESOURCES 19
7. 7.0 MAIN INDUSTRY 21
8. 8.0 OTHER INDUSTRY 22
9. 9.0 MNCs 23
10. 10.0 SELF-REFLECTIONS

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 10.1 SELF-REFLECTIONS MUHAMMAD HAZIQ BIN 24
RUSLY
10.2 SELF- REFLECTIONS MUHAMMAD NAZRI BIN 25
AZLAN
10.3 SELF-REFLECTIONS IZNI FARISHA BINTI FAIZUL 26
ZAZMAN
10.4 SELF-REFLECTIONS EZZA SHADZRINA BINTI 27
JUMMEY
10.5 SELF-REFLECTIONS NURIN FAQIHAH BINTI AZRI 28
11. REFERENCES 29
12. APPENDICES 30

TABLE OF FIGURES

NO FIGURES PAGE
1. 4.1 Population Size and Growth by Residents Status 12
2. 4.2 Age Group by Distribution in Singapore 14
3. 4.3 Resident Population in Singapore 15
4. 4.4 Average Monthly Household Income Per Household member in 16
Singapore
5. 10.1 Picture Muhammad Haziq 24
6. 10.2 Picture Muhammad Nazri 25
7. 10.3 Picture Izni Farisha 26
8. 10.4 Picture Ezza Shadzrina 27
9. 10.5 Picture Nurin Faqihah 28

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1.0 COUNTRY PROFILE / BACKGROUND SINGAPORE

Singapore is a wealthy city state in south-east Asia. Once a British colonial trading post,
today it is a thriving global financial hub and described as one of Asia's economic "tigers". It is
also renowned for its conservatism and strict local laws and the country prides itself on its
stability and security. Singapore is known as a Garden City because nearly half of the island is
covered in greenery. It is a thriving metropolis with world-class infrastructure, a fully integrated
island-wide transportation network, a dynamic business environment, vibrant living spaces, and a
rich culture influenced by Singapore's four major communities, each offering a unique
perspective on life in the city-state in terms of culture, religion, food, language, and history.

The ease of life in Singapore, notably in terms of habitation, transportation, and

governance, is one of the reasons for its appeal as a home. Singapore has achieved great progress
in several sectors over the years, earning a slew of international awards that acknowledge the city
as lively and world-class. Singapore is a small but rich island nation with plenty to offer in terms
of quality of life and personal development. Despite being a small red dot on the world map, the
country is ideal for growing families and children in a joyful and safe atmosphere.

The things that make Singapore unique are safe and secure environment, it’s a haven for
foodies, has great schooling options, ample choice of great housing options and plethora of
outdoor activities. Many expats from neighbouring nations and the Western world are enticed to
make Singapore their long-term or short-term home by these distinctive aspects of the island
metropolis. Singapore's smart city is an excellent location for children's education and instilling
Asian values in them, as well as assisting them in becoming future global citizens.

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2.0 LEGAL & POLITICAL

Singapore's politics are characterized by a multi-party system and a parliamentary

representative democratic republic, with the President of Singapore as the head of state and the
Prime Minister as the head of government. The Cabinet, which is appointed by parliament, and,
to a lesser extent, the president, exercise executive power. Both the administration and the
Parliament of Singapore have legislative power. The legislature is the parliament, which consists
of a single chamber with members elected by popular vote and is led by the president. The
president's role as head of state has traditionally been largely ceremonial, though the constitution
was amended in 1991 to give him veto power over a few key decisions, including the use of the
national reserves and the appointment of key judiciary, Civil Service, and Singapore Armed
Forces positions. They also have authority over civil service appointments and problems of
national security.

Since the 1959 general election, when Lee Kuan Yew became Singapore's first prime minister,
the People's Action Party (PAP) has dominated Singaporean politics (Singapore was then a self-
governing state within the British Empire). Since then, the PAP has been the only ruling party to
establish a government. After being expelled from the Federation of Malaysia in 1963, Singapore
became independent in 1965. Transparency International has repeatedly ranked Singapore as the
least corrupt country in Asia and among the top ten cleanest countries in the world. Singapore
was also scored highly on the World Bank's governance indexes for rule of law, corruption
control, and government performance.

However, some aspects of the political process, civil liberties, and political and human
rights are widely perceived as lacking. Singapore was classified a "flawed democracy" by the
Economist Intelligence Unit in 2019. In 2015, Freedom House declared the press to be "unfree."
The politics of Singapore takes the form of a parliamentary representative democratic republic
whereby the President of Singapore is the head of state, the Prime Minister of Singapore is the
head of government, and of a multi-party system.

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 Singapore's legal system is based on the English common law system. Major areas of law,
such as administrative law, contract law, equity and trust law, property law, and tort law, are
largely judge-made, though statutes have modified certain aspects to some extent. Other areas of
law, such as criminal law, business law, and family law, are virtually entirely governed by statute.
Apart from citing relevant Singaporean decisions, courts continue to cite English case law when
the issues entail conventional common-law concerns or the interpretation of Singaporean
legislation based on English enactments or English statutes applicable in Singapore. There is also
a growing trend to take into account judgements from key Commonwealth countries such as
Australia and Canada, especially if they diverge from English law.

Singapore is a republic with a parliamentary system of Government based on the

Westminster Model. The roots of Singapore's legal system can be traced back to the English
legal system and it has evolved over the years. Civil law, common law, statutory law, religious
law, or mixtures of these are the four major systems on which modern national legal systems are
built. However, each country's legal system is influenced by its own history, and as a result,
individual variances exist.

Singapore is the second least risky country in Asia in 2010, according to the Hong Kong-
based Political and Economic Risk Consultancy (PERC). Singapore's legal system has been a
crucial enabler of the country's phenomenal progress in recent years. It is efficient, transparent,
and exceptionally sound. Despite the fact that Singapore's legal system is based on common law,
its criminal code is mostly statutory. For significant offences, Singapore retains both corporal
punishment (in the form of caning) and capital punishment (by hanging).

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3.0 CULTURE OF SINGAPORE

Culture is all about the population’s ways of life, which is arts, beliefs, and traditions, that
are passed down from generation to generation. Culture also can be defined as "a whole society's
way of existence." As a result, it bounds with etiquette, communication, language, religion,
rituals, and art.

Every country has their own culture and Singapore is one of the countries that still preserve
its culture. However, Singapore’s culture has changed dramatically over millennia. The current
culture is a combination of Asian and European elements, with Malay, South Asian, East Asian,
and Eurasian influences dominating. Singapore also has been labeled an "East meets West"
country, as well as a "Gateway to Asia" and a "Garden City."

Furthermore, the Austronesian people are principally responsible for Singapore's original
culture. There are various Chinese dynasties, such as the Ming and Qing, as well as other Asian
kingdoms, that affected Singapore’s culture during the Middle Ages. However, Singapore has
been impacted by western countries in the near-contemporary history when the British came.

3.1 SOCIAL STRUCTURE

Although there are significant economic and income inequality, Singapore is a country
where more divided into by ethnicity than by class. Besides, the higher position occupational
mobility has been experienced by all ethnic groupings. There is a strong emphasis on education.
Good grades are the way to people in Singapore to have a good job with a good salary.
Singapore is a meritocracy in this regard.

In Singapore's downtown colonial-style houses, shutters open into clotheslines.

Singaporeans always talked about wanting the "five C's" which is a car, a condominium, a credit
card, a club membership, and a career. Regardless of race, these are vital symbols of wealth and

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prestige. Although there is no national costume, the orchid is recognized as a symbol of the
country, and fabrics with orchid patterns may be worn on special occasions.

3.2 LANGUAGES

There are four official languages of Singapore which are English, Malay, Tamil, and
Mandarin Chinese. In Singapore, English is the most widely spoken and written language.
Singapore is lingua franca, and hence the de facto language of government and administration,
trade and business, and the court system. Singapore uses British English in writing. The
unofficial spoken Singaporean English is known as "Singlish" in Singapore. Despite the fact that
Malay is the country's official language, about 15-17 per cent of Singaporeans speak it. Only in
the Singaporean national song, military directives, and orders and citations is it officially present.
Most people in the country are bilingual where they can speak in good English and one of the
three other languages as their mother tongue.

3.3 COMMUNICATION

3.3.1 VERBAL COMMUNICATION

Singaporeans employ three types of verbal communication which is direct

communication, refusals, and voice. They are relying on indirect communication.
Singaporeans pay greater attention to facial expressions, speech tones, and posture than they
do to words. Even if they disagree with you, Singaporeans rarely deliver a direct 'no' or
negative response. It's crucial to pay attention to any signs of hesitancy. Pay attention to
what they're saying and confirm that you understand them by asking for their perspective.
They may not speak up to offer suggestions, but when questioned, they will give an honest
view. In Singapore, speaking loudly is considered impolite and overpowering.

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3.3.2 NON-VERBAL COMMUNICATION

Singaporeans used to point, body language, physical contact, eye contact, silence, and
impolite stroking of someone's head as their nonverbal communication towards each other.
The use of the index finger to point towards individuals is considered impolite.
Singaporeans point using their entire hand or by nodding their hand in the desired direction.
Head nodding is very widespread in Singapore. Body language, on the other hand, is
normally reserved, with gestures being rare.

However, touching, such as holding hands, hugging, or back-slapping, is reserved for

close friends and relatives in Singapore. Singaporeans, on the other hand, are used to
coming into intimate contact with strangers due to the country's dense population. The
majority of people do not value open displays of friendliness. In many instances, eye contact
communicates confidence and alertness. Certain Singaporeans, particularly Muslim Malays
and a few Hindus, are more likely to deflect their gaze, especially when partnering with
others who are better than them. Holding an eye to eye connection for an extended period of
time might be interpreted as rude or testing. Silence is an important and deliberate tool in
Asian correspondence. Pausing before responding shows that someone has related relevant
ideas and thoughts to the question. It conveys a sense of deference and respect. Touching
someone's head is considered impolite and offensive.

3.4 RELIGION

Due to the wide ethnic mix of peoples from many nations, religion in Singapore is
characterized by a range of religious beliefs and practices. Buddhism is the most widely
practiced religion in Singapore, in 2015, with 33.2 percent of the population identifying
themselves adherents. The majority of Buddhists in Singapore are Chinese, according to
Wikipedia, there are 42.29 percent of Singapore's ethnic Chinese population identifying as
Buddhists according to the most recent census However, there are also non-Chinese ethnic
groups in Singapore, such as the Burmese, Japanese, Sinhalese, and Thais, practice
Buddhism in significant numbers.

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 In 2015, 18.5 percent of Singaporeans claimed to be non-religious. In the varied,
cosmopolitan city state of Singapore, non-religious people can be found in all ethnic groups and
walks of life. Many people identify themselves atheists, agnostics, free thinkers, humanists,
secularists, theists, or sceptics in Singapore's non-religious population. Furthermore, some
people reject religious labels but continue to follow ancient practices such as ancestral worship.
Over the decades, the number of non-religious persons in Singapore has steadily increased.
According to census data, the number of people who claimed they don't believe in God increased
from 13.0 percent in 1980 to 17.0 percent in 2010. Non-religious social events have become
increasingly common in Singapore in recent years.

3.5 VALUES AND ATTITUDES

3.5.1 MERITOCRACY

Singapore will ensure that the smartest and brightest are encouraged to reach their full
potential, regardless of race, religion, or socioeconomic background. Everyone has access to
education, which provides them with the skills and knowledge they need to improve their living
conditions. According to the Education Act, for all children aged 7 to 12 is mandatory to attend
primary school. However, for children who are in special case, parents that have a valid reason
can apply for exemptions from the Ministry of Education in Singapore in order to exempt their
children from this mandatory restriction.

3.5.2 RACIAL HARMONY

Singapore is a multicultural, secular republic. The major religions in Singapore are

Buddhism, Christianity, Islam, Taoism, and Hinduism. The government places a strong focus on
respect for different religions and personal beliefs. Therefore, on the 21st of July, all schools in
Singapore will commemorate Racial Harmony Day to emphasize the need of instilling racial

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harmony awareness in young people. Students will be dressed in various ethnic garb at the
schools, while some classes plan racial harmony concerts.

3.5.3 DEMOCRACY

Singapore national flag has shown, the principles of democracy, peace, progress, justice, and
equality are engraved as stars. Singapore received a 4 out of 7 for political freedom and a 4 out
of 7 for civil liberties rating from Freedom in the World, with an overall rating of “partly free”.
According to Wikipedia, in their 2015 Press Freedom Index, an organization, Reporters Without
Borders rated Singapore 153 out of 180 countries.

3.6 BUSINESS ETIQUETTE

Singapore is known with high context cultures and communication relate to cultures and
communication in which the context of the message is extremely important in shaping actions.
High-context societies are typically social and collectivist, with a strong emphasis on
interpersonal interactions. According to Hall, High-context cultures, are the ones in which
collective cohesion and well-being take precedence over individual achievement.

Singapore's business culture is more formal than that of many Western countries. There are
severe etiquette norms that must be followed. Individuals are considered as less essential than the
collective (business or department). People follow a rigid chain of command, which comes with
both positive and negative expectations. Much communication will be non-verbal in order to
avoid others losing face, and you must attentively monitor the facial expressions and body
language of those you work with.

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4.0 DEMOGRAPHIC FACTOR

Singapore demographics include population statistics such as population density, ethnicity,

educational attainment, population health, socioeconomic position, religious affiliations, and
other demographic data.

According to Statista, the total of Singapore population was 5.45 million in June 2021, with
4 million residents and 1.45 million non-residents.

In the year 2020, the annual total population growth rate was -0.3 percent. Singapore's
resident total fertility rate (TFR) was 1.10, with fertility rates of 0.94, 1.83, and 0.97 for
Singaporean Chinese, Malay, and Indians, respectively. In 2018, the fertility rate of Singaporean
Malays was over 85% greater than that of Singaporean Chinese and Singaporean Indians,
compared to about 70% higher in 2010.

4.1 DEMOGRAPHIC TRENDS

4.1.1 POPULATION SIZE AND GROWTH BY RESIDENTIAL STATUS

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 Figures 4.1 Population Size and Growth by Residential Status

According to the figure above, it shows the population size and growth by residential status
in Singapore from 1960 to 2020. In the first graph, it shows the population and residents has
been in inclining trend every year. However, the total population has growth compared to total
residents as in 2020 the total population is 5,685.8 and the total residents is 4,044.2. In second
graph, it shows the natural change has a declining trend every year and in the last graph the total
fertility also shows a declining trend every year and starts from 1980 to 2020 has a negative
value.

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4.1.2 AGE DISTRIBUTION OF RESIDENT POPULATION

Figure 4.2 Age Group Distribution in Singapore

Based on the graph above, in June 2021, shows the age group of 30 to 34 years old, 45 to 49
years old, and 55 to 59 years old are has majority of population in Singapore. The declining trend
shows at the age group of 90 years old above it shows in this age group only has minority of it.

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4.1.3 DEMOGRAPHIC TREND BY ETHNIC GROUP

Figure 4.3 Resident Population in Singapore

Based on figure 4.3, resident in Singapore has majority of Chinese with 2,960.14 million in
June [Link] is because Singapore demand for a labour and skills workforce during 19th
century. This issue drive to migrants’ Chinese to expand their population in Singapore. Malays
has the second majority ethnic in Singapore and follow with Indians and others ethnic.

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4.1.4 DEMOGRAPHIC TREND BY INCOME

Figure 4.4 Average Monthly Household Income Per Household Member in Singapore

Based on the graph above, the average monthly household income in Singapore from 2011
to 2020 is RM 4,022. It shows an inclining trend every year starts from 2011 to 2020. In year
2011 the average monthly household income is RM 2,925; it is the lowest average compared to
other years.

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5.0 POPULATION OF SINGAPORE

As of June 2021, Singapore's overall population was 5.45 million. Between June 2020
and June 2021, the global population fell by 4.1 percent due to the COVID-19 pandemic. This
was mostly attributable to a fall in the number of non-residents. As of June 2021, the citizen
population has declined by 0.7 percent, to 3.50 million. The citizen population continues to age,
with 17.6% of the population aged 65 and more in June 2020, compared to 16.8% in June 2020.
The citizen population continues to age, with 17.6% of the population aged 65 and more in June
2020, compared to 16.8% in June 2020. As of June 2021, the permanent resident (PR) population
has declined by 6.2 percent, to 0.49 million. This was mostly due to COVID-19 travel limitations,
which resulted in more citizens and PRs being overseas for 12 months or longer and so not being
recorded as part of our population.

As of June 2021, the non-resident population has declined by 10.7%, to 1.47 million. This
was mostly due to a drop in foreign employment in Singapore from June 2020 to June 2021,
which was attributed to travel restrictions and uncertain economic conditions. The dip was noted
across all pass categories, with the Construction, Marine Shipyard, and Process sectors seeing the
biggest drop in Work Permit Holders. There were 19,430 citizen weddings in 2020, down 12.3%
from 22,165 citizen marriages in 2019. Couples may have postponed their weddings due to
COVID-19 limits on big gatherings. In 2020, there were 31,816 citizen births, down from 32,844
citizen births in 2019. Over the last five years (2016 to 2020), there were almost 32,500 citizen
births each year on average, slightly more than the previous five-year average of 32,400. (2011
to 2015). In 2020, the resident total fertility rate fell from 1.14 in 2019 to 1.10.

Moreover, As of June 2021, the population of Singapore was 3.50 million. Permanent
residents numbered 0.49 million (PRs). There were 3.99 million people in all. 2.0 Non-residents
accounted for 1.47 million people, including our overseas employees, dependents, and
international students. Singapore's population was estimated to be 5.45 million people. Between
2020 and 2021, the populations of citizens and permanent residents (PRs) dropped by 0.7 percent

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(3.52 million to 3.50 million) and 6.2 percent (0.52 million to 0.49 million), respectively. This
was mostly due to COVID-19 travel limitations, which required more nationals and PRs to stay
abroad for a period of 12 months or more. As of June 2021, the non-resident population was
1.47 million, a decline of 10.7% from June 2020. This was mostly due to a decrease in foreign
employment in Singapore between June 2020 and June 2021. The dip was noted across all pass
categories, with the Construction, Marine Shipyard, and Process sectors seeing the biggest drop
in Work Permit Holders. These changes were mostly attributable to COVID-19-related travel
restrictions and unstable economic situations. From June 2020 to June 2021, Singapore's overall
population fell by 4.1 percent, owing primarily to a decline in the non-resident population. In
comparison to the preceding five-year period, the total population growth rate was slower in the
last five years.

Individuals who are dedicated to making Singapore their home and who can integrate and
contribute to Singapore are granted between 15,000 and 25,000 new citizenships each year.
Newcomers may have family links to Singaporeans (for example, by marriage) or have studied,
worked, or lived in the country for a period of time. Singapore has welcomed roughly 30,000
new permanent residents each year since the immigration system was tightened in late 2009.
This maintains the size of the PR population while also providing a pool of candidates who may
be eligible for citizenship.

The most of our Permanent residents (PRs) are between the ages of 25 and 59.
Individuals must gain permanent residency before applying for citizenship in Singapore,
therefore new adult citizens are drawn from our pool of PRs. Minors who were either offspring
of citizens, including those born overseas to Singaporean parents, or children of PRs who were
named as dependents in their parents' citizenship application made up the tiny number of new
citizens who were not PRs. Immigration serves to mitigate the effects of population ageing and
low birth rates in our citizen (SC) population, preventing it from declining in the long run. The
rate of immigration will continue to be moderate and consistent.

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6.0 MAJOR NATURAL RESOURCES OF SINGAPORE

Singapore is an Asian country with one of the world's strongest economies. Singapore's
GDP was the 41st highest in the world in 2018, at $349.659 billion dollars, while its per capita
GDP was the eighth highest at $61,766 dollars. Singapore's economy was one of the world's
worst when it gained independence, with a GDP per capita of $516. Unemployment and
illiteracy rates were also unusually high in the country. Singapore's government took many steps
to boost the economy, including establishing the Economic Development Board and emphasizing
the correct use of the country's natural resources. Arable land, the country's gorgeous
environment, and fish are among Singapore's most valuable natural resources.

One of the Natural Resources in Singapore is beautiful scenery. It's because it has the
potential to bring in a significant number of tourists to the country. The Bay East Garden,
Sentosa Island, and Pulau Ubin, also known as Granite Island, are some of Singapore's most
attractive spots. The latter is popular with tourists due to the abundance of animals in the region.
Also, tourists flock to the Bay East Garden because of the exotic flora found there. Singapore is
also home to the world's highest indoor waterfall. Singapore is one of the world's most popular
tourist destinations, with over 17 million tourists in 2017. The tourist industry is one of
Singapore's most important sectors since it employs a large number of people and contributes
significantly to the country's GDP. The majority of visitors to Singapore at the time came from
other Asian nations such as China, Indonesia, and Malaysia. European visitors, such as those
from the United Kingdom and Germany, made up a sizable share of those who visited Singapore.

Moreover, the arable land is one of major natural resources of Singapore. According to
World Bank data, arable land comprised about 0.8 percent of Singapore's land area in 2015. The
research also revealed that arable land in Singapore has shrunk since 1966, when it accounted for
6% of the country's total land area. The decrease in the area of arable land in the country can be
ascribed to the agriculture sector's declining prominence in Singapore's economy. According to
Singapore's labour department, farming employs around 0.95 percent of the country's workforce.

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The majority of Singapore's farms are located in the countryside. Singaporean farmers cultivate a
diverse range of fruit crops, including durians and mushrooms. The country is compelled to
import the majority of the food it consumes. The most significant difficulty that Singapore's
agriculture business faces is the scarcity of agricultural land.

Next, one of major natural resources of Singapore is fish. It is because, Singapore

possesses considerable fish reserves. Leisure fishing and commercial fishing are the two primary
types of fishing in Singapore. The majority of Singapore's commercial fishing takes place in the
Indian Ocean, and the fish are utilized to meet local demand. Punggol Point Jetty, Woodlands
Jetty, and Serangoon Reservoir are just a few of the places in Singapore where you may go
leisure fishing. Singapore's government has pushed locals to take up fish farming in order to
enhance the country's seafood supply.

Last but not list, fruit is also one of natural resources of Singapore. Fruits like rambutans
and durians are major agricultural goods. Orchard Road was once one of Singapore's most
prominent fruit-growing sites, but due to urbanization, the area's fruit fields have been replaced
with up-scale thoroughfares. The majority of Singapore's fruits are consumed domestically, with
just a little amount exported to other countries. However, fruits are also important for economic
development in Singapore.

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7.0 MAIN INDUSTRY IN SINGAPORE

Singapore is a developed country with a wide range of results obtained from various sources.
However, the main sources that fuel the industry in Singapore are the manufacturing industry
which comprises electronics, chemicals, financial services, oil drilling equipment, petroleum
refining, rubber and rubber products processing, processed food and beverages, ship repair,
offshore platform construction, Life Science, entrepot trade.

Among all these industries, there is one industry that plays the largest role in Singapore,
namely the Singapore biomedical industry where it surpasses electronics as the largest
contributor to manufacturing. Singapore is known for its highly sophisticated electronics industry
and has traditionally relied on the electronics industry. In addition, Singapore was once the
largest manufacturer of disk drives in the world. It is also a major manufacturer of
semiconductors, computer components and electronics. Next, the Singapore government has
urged companies to relocate their manufacturing plants to countries such as Malaysia and
Indonesia and spend more of their research and development budgets in Singapore. Therefore,
the Singapore government wants to diversify the economy and not be too dependent on the
electronics industry.

The second largest industry in Singapore is an Industrial Petroleum. It is important in

Asia because Singapore is a major hub of oil trade in Asia as well as a price center. This is
because, Singapore is in the top three countries in the world that have export refining centers.
Singapore is the market leader and the most of the main players in the industry. In recent years,
output from the oil and gas and petrochemical industries was valued at US$60 billion. In
expected the valued will decrease due to up and down oil prices, unexpected illness and global
geopolitical problem.

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8.0 OTHER INDUSTRY IN SINGAPORE

Among other developing industrial sectors in Singapore is the services sector. Currently,
Singapore is considered a global financial center due to the excellent financial services offered
by their banks and other financial institutions. In fact, in the 2017 Global Financial Index. In
addition, among the services offered by financial institutions include things like internet banking,
multi -currency support, savings accounts, checking accounts, wealth management systems, and
more attractive services.

The business services sector consists of several diverse industries such as real estate,
activities legal, accounting activities, business and management consulting activities,
architectural and engineering activities, business representative offices and other business
services. The emergence of the services sector in Singapore has made it grow steadily over a
period of time. As such, it has made a significant contribution to the income of Singaporeans in
terms of production and employment. This is because, it has grown at the cost of the
manufacturing sector. Moreover, the nature of the services sector itself has brought significant
changes. In the services sector, Financial and Business services are the most profitable in terms
of service volume and it is followed by trade, transport and communications.

Apart from that, another sector available in Singapore is also the tourism sector. Tourism
is another important sector to the economy. About 15 million tourists had visited Singapore in
the previous year. This is because, there are many interesting places to visit in Singapore. Apart
from traditional tourism, Singapore has also established itself as a center of medical tourism.
Every year, about 200,000 people visit the country to receive health care. The target is to have at
least one million medical tourists and generate about $ 3 billion annually. Due to the existence of
this tourism sector, the economy in Singapore has developed rapidly. Therefore, this sector is
what attracts tourists from all over the world to visit Singapore.

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9.0 MNCs IN SINGAPORE

MNC is stand for Multinational Corporation or Company. MNC when the huge
organization that opening or doing operate in a number of countries. This led to the companies
who are managed by professional who are not the owner of company but have responsible to
towards the company. MNCs have a lot of fluences and can give many advantages towards the
host countries.

The reason why many people are attracted with Singapore because of its fast-growing
economy and being the financial center for the Asia Pacific region. Singapore has set itself in an
important role as a business base within the heart of Asia. That is the major reasons why MNCs
continue to recommend Singapore as a preferred business place for incorporating a Singapore
company. Most MNCs apply to advantages from Singapore’s open business and business-
friendly policies. MNCs companies from all over the world pursue to endorse Singapore as an
ideal location to set up and enlarge their businesses, and this overview stay with to grow in-
parallel with Singapore’s internal and external development and process.

However, MNCs also need to recognize the way to interact with the national and local
environments to overcome the impacts of MNCs on Singapore. MNCs have a huge impact on
economic and political, environmental, and cultural force that can’t be avoided in present
globalization. From the view, MNCs have an impact on the living things especially of billions of
people every day. These companies can provide emerge nations with many advantages.
Nevertheless, these organizations may also conduct with them the principle conduct that serve to
utilize the needs of these organizations, rather than supply them with the critical support for
economic extension and social development. When an MNCs invests in Singapore, their scale of
the investment is likely to be in an important figure.

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10.0 SELF- REFLECTIONS

10.1 SELF-REFLECTIONS OF MUHAMMAD HAZIQ BINTI RUSLEE

Figure 10.1 Picture Muhammad Haziq

What I can summaries from this course is, this course is really fun because this course is
interesting and I am grateful to have learned a lot of knowledge about international business. In
order to be successful in business, I may build a worldwide viewpoint. I'm also able to
study International business and can help to grasp how globalization has increased the
'connectedness' of firms, markets, people, and information across borders.

Furthermore, the abilities I learn on a course like this are in great demand by companies.
In such an area of international business, I updated my knowledge and talents. What can I
realized is that it can learn and know about the regulations of business for import and export, as
well as domestic, had changer? With this course as well, it can learn more about other countries
as well. for example, the currencies and ways of doing business that other countries have. I also
feel that this course is suitable for me to take when I am in my degree later. I also hope that this
course can attract more other students and also the knowledge that I have will be more developed
when I take this course

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10.2 SELF-REFLECTION OF MUHAMMAD NAZRI BINTI AZLAN

Figure 10.2 Picture Muhammad Nazri

I found this topic to be very intriguing and motivating, and I believe I gained some new
knowledge and abilities because of participating in this assignment. As a result of attending
classes, my experience has successfully broadened to encompass a worldwide approach to
international business. I discovered that, because of globalization, international commercial
activity has gotten a little more sophisticated. Because of the current potential and threats of
globalization, I updated my knowledge and abilities in such an area of international business.

I am familiar with the cultures and people of other countries, as well as the demands that
they have. I also learned that most countries are members of various free trade agreements
because of this homework. A trading bloc is a group of countries within a geographical region
that band together to protect themselves from non-member goods. I completed this task, which
will assist me in doing something new in the future. In addition, I discovered that developing
new products for foreign business is more difficult than developing products for domestic
business. Because of the increased amount of competition in the worldwide market, product life
cycles have been observed to be shorter.

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10.3 SELF-RELFECTIONS OF IZNI FARISHA BINTI FAIZUL ZAZMAN

Figure 10.3 Picture Izni Farisha

First of all, I want to say thank you for my lecture, Dr Muhmmad Syukri Bin Abdullah
and my classmates as well as my groupmate for provide guidance and instruction in this subject.
Based on the subject International Business, I gain the more knowledge how the organization can
expand their business in other country outside from their own country. This subject is shown me
about the important of technology in the business world.

Every organizations also need to pay concern and doing more research towards the
country that them choose to set up or expand the business to make sure the business will run
smoothly. In this subject, I also gain more idea about marketing strategy which is not only valid
in the owner country but also around the world. International Business is really helping for me to
gain more knowledge about other country and the unique of their country with diversity of
culture and religion. I will practice all the things that I study in this subject to expand myself and
build up dream’s business.

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10.4 SELF-REFLECTION OF EZZA SHADZRINA BINTI JUMMEY

Figure 10.4 Picture Ezza Shadzrina

From this subject, I get to learn and explore more about business not only in Malaysia but
also internationally. International business has 12 chapters, and each chapter gives me new
knowledge. From the chapter, I learned that every country has its own strategies, strengths, and
weaknesses. This really gives me a wide range of information and ideas that I never knew I
would get from this course.

I have no expectations for this subject because I knew it would be more about reading and
learning facts, which is why I enjoy this course. Lastly, thank you to Dr. Muhammad Syukri,
who gave an attractive lecture, always shared information, and gave good advice. This subject
really gives me the courage to learn more about this subject.

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 10.6 SELF-REFLECTION OF NURIN FAQIHAH BINTI AZRI

Figure 10.5 Picture Nurin Faqihah

International business consists of business transactions between parties from more than
one country. By studying this subject, I can improve my understanding of the global market and
various regions of the world. In addition, studying international business will give me an insight
into the global economic and business climate. From this subject I can also learn to study how
business organizations operate in an international environment and gain an understanding of
strategy development and implementation, management activities and organizational issues
related to cross -border activities.

Most business professionals will in some way be influenced by international influences.

Individuals planning a career in business must understand the ins and outs of doing business with
partners from various countries. Whether the business is conducted in Malaysia or outside our
borders. Next, with the help of the lecturer, I can more easily understand what the content in this
subject. Studying international business can prepare students for positions across the public,
private and non-profit sectors. Students may expect their day -to -day work to revolve around
international trade, global business operations and planning, or industrial development, for
example. In addition, international business studies can be of great benefit to students who plan
to pursue graduate studies in fields such as law or public policy where a solid knowledge of
international business can help.

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11.0 REFERENCES

1. Pearson, 2021, International Business – A Managerial Perspective, Pages 82 – 102

2. Benjamin Elisha Sawe, 2019, What Are The Major Natural Resources Of Singapore,
What Are The Major Natural Resources Of Singapore? - WorldAtlas

3. Singapore Department of Statistics, 2021, Population in Brief 2021,

[Link]

4. Facts and [Link], 2019, Industries in Singapore,

INDUSTRIES IN SINGAPORE | Facts and Details

5. Paul Hype Page & Co, 2021, Multinational Corporation in Singapore,

[Link]

6. Ferdinand Bada, 2018, What Are The Biggest Industries in Singapore,

What Are The Biggest Industries In Singapore? - WorldAtlas

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12.0 APPENDICES

A1. Multinational Corporations Singapore

A2. Singapore Culture

A3. Singapore Currency

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