ScandAsia Publishing Pte. Ltd. was established on 20 July 2011 as a joint venture between ScandAsia in Thailand and Frank Leong, who has been Sales Manager for the ScandAsia Singapore since November 2010.
Frank Leong is a partner in S C Production LLP which sells advertisements for various other magazines. He will now dedicate more of his time to serve ScandAsia.
Gregers Moller, the Publisher of ScandAsia, is pleased with the move, too.
“The perspective of having our own corporate framework in Singapore is exciting. Initially, we will employ Frank as our Sales Manager and next, a journalist will team up with him to cover the many activities in the Nordic communities in Singapore,” he says.
Among the benefits of establishing the company in Singapore is the first three years of tax exemption for profit below 100.000 Singapore dollars. The absence of monthly withholding tax reports and payments and exemption of GST if the turnover is below 1 mill Singapore dollars facilitates business start-ups further.
“Having just been through a similar process in Thailand, which took several months, the efficiency of the Singaporean government administration and bank system was amazing,” says Gregers Moller.
“We had prepared all papers, so with that in place, the whole process, including opening a bank account, was done in one afternoon!”