Understanding SMEs And Easing Loan Application
It was reported by Business Times that four in ten small and medium-sized enterprises (SMEs) in Singapore are unserved by financial institutions. This is due to the lack of credit information on SMEs that raises the cost of credit-risk assessment, causing the difficulty for them to secure loans. Due to insufficient funds and cash flow problems, more than 37% of SMEs are found to have overdue payments. SMEs have lower access to loans because lending to them is much higher and riskier. They have a higher rate of failure as compared to larger organisations. For instance, audit reports are one…
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Putting Reputation On The Line
Thanks to the advancement of technology, media is becoming more accessible. In a report by CNN, it was mentioned that on average, a teen spends 9 hours a day on social media. Similarly, according to Statista[1], Facebook has over 1,590 million active users as of April 2016. Due to this, organisations are placing more emphasis on the management of their branding on media, particularly on social media. Here are three examples of bad media management that caused companies their reputation. Malaysia Airline The first case was how Malaysia Airline handled the media on their missing aircraft MH370. MH370 was a…
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Are You Giving Your Workers Enough?
Employee trainings have become an inevitable part of the organization route to sustainable growth. However, while organizations set their eyes on achieving good results, management tends to neglect the process and the need to keep the quality of the workers in check. Here’s why we feel that process is as important as results. According to a report, State of the Global Workplace, by Gallup, it is discovered that only 13% of employees worldwide are engaged at work.[1] By being engaged at their workplace refers to the workers being psychologically committed to their jobs and making positive contributions. A low engagement…
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How Can We Achieve Success In Managing Process Safety?
For many years, unexpected releases of toxic, reactive, or flammable liquids and gases in processes involving highly hazardous chemicals have been reported. Regardless of the industry, as long as the company is handling hazardous chemicals, there is always a potential for an accidental release at any point if processes are not well controlled. Click here to see article on “Industrial Disasters & How are They Managed” Click here to see article on “3 Industrial Accidents Caused by Human Error” How can we achieve safety success? Leadership In the process industry, the safety of the employees and the…
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Challenges Of Project Management In Oil & Gas Industry
Successful companies are continuously working towards to improve their general project management skills, especially skills in relation to the oil and gas industry. There is a shortage of technical talent in the industry, and is estimated to become more acute over the next decade as more experienced engineers retire, further complicating the issue. As activities increases, more oil and gas production moves to frontier and unconventional resource areas, and projects become larger and more complex. For example, offshore facility in the Artic that is budgeted at more than $3 billion, and in South America, a $8.4 billion petrochemical complex…
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Geological Risk Assessment
The exploration and production of oil and natural gas requires high levels of capital expenditures and are subject to natural hazards and other uncertainties, including the physical attributes of oil and gas fields. Exploration drilling for oil and gas embeds numerous risks including the risk of dry holes or failure to find commercial quantities of hydrocarbons. There are a variety of factors that cause exploration failure: – Unexpected drilling conditions Pressure or heterogeneities in formations Equipment failures Blowouts Several accidents Shortages or delays in delivery of equipment And many more… Estimating the probability of discovery is an important…
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Credit Borrowing In SMEs
Small Medium Enterprises (SMEs) have an important role to play in ensuring a healthy economy. In UK, statistics from the Federation of Small Businesses show that small businesses account for 99.3% of all private sector businesses at the start of 2016 and 60% of all private sector employment. “There is clear evidence that external funding can have a hugely positive impact on an SME.” – Robson, CEO, Ultimate Finance[1] Reasonable access to credit is integral to aid these enterprises in growing and expanding for them to contribute further to the economy. However, there are several factors that are…
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The Growth Of FSRU Market
Floating Storage and Regasification Units (FSRUs) have been in operation for more than ten years. Over the years, it has successfully make its way from a specialist niche to being a main-stream solution for potential new regasification terminals. FSRUs have contributed greatly to the LNG industry by opening up new market opportunities to LNG and lower the barriers to entry into the industry. As of January 2016, FRSU fleet has grown to more than 30 fleets. Imports through FSRU terminals have grown by 44% in 2015, to 22.8 million tonnes. Much of the growth was contributed by new…
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