SINGAPORE: Singapore’s economy is climbing up the value chain. Despite concerns over recent lacklustre exports data, economists have said there has been a shift towards higher-value services-related activities within the manufacturing sector, which could pave the way for further transformation and growth. The semiconductor chips in EZ-Link cards are made by Infineon Technologies, which started operations in Singapore about 40 years ago doing low-cost assembly. With semiconductors becoming smaller and more complex over the years, Infineon has been constantly upgrading its processes.
Analyzing the data from PayScale, a software and data service provider, PIKOM compared the income of IT engineers in 70 cities in 13 countries in accordance with the purchasing power parity (PPP) theory, and found that the most attractive income was being paid to the engineers in Vietnam and Hong Kong. Vietnamese IT engineers’ earned 2.19 times higher than their Malaysian counterparts, while Hong Kong engineers’ earned 2.12 times higher than Malaysian. According to PIKOM, an IT expert in Malaysia received 7,152 RM in 2013, on average, or $47 million a year.
China’s rush to the Internet is slowing, with the country adding only 14.4 million new Internet users in the first half of 2014, the lowest half-year growth in eight years. There were 632 million Internet users in China in June, according to the government-linked China Internet Network Information Center (CNNIC). Although China has long reigned as the country with the world’s largest Internet population, the services are still struggling to take off in the rural areas, where about 450 million people never go online, said the CNNIC in its bi-annual report.
TAIPEI–Morgan Stanley has maintained an “overweight” recommendation of shares of Taiwan-based Hon Hai Precision Industry Co. (鴻海) amid optimism toward the manufacturer’s bottom line ahead of expected launches for the next generation of Apple iPhones. Hon Hai, the world’s largest contract electronics maker and assembler of iPhones and iPads, is known as one of the “Apple concept stocks” in the local bourse.
While Thailand’s overall economy is suffering terribly from the country’s ongoing political turmoil, the country’s data center service providers have miraculously been experiencing unexpected growth in business, researchers from Frost & Sullivan said. The Thai data center industry grew 21 percent in 2013, compared to the previous year, with total revenue in excess of 1,700 million baht ($51.84 million). Frost & Sullivan expects the industry to continue to enjoy strong growth of more than 15 percent in 2014.