Following reporting higher-than-expected quarterly revenue, a higher-than-expected quarterly profit, and a strong demand for its ride-share services, Grab Holdings increased its full-year profit forecast on Wednesday ( May 15 ). A major restructuring at Grab, including the reduction of 1, 000 jobs and some of the costs associated with technologies,Continue Reading
SINGAPORE: Last month, the billionaire boss of hedge fund Citadel treated its employees to an all-expenses-paid weekend trip to Tokyo Disneyland.
The outing, courtesy of CEO Ken Griffin, commemorated the company’s 30th anniversary in 2020 and sister company Citadel Securities’ 20th anniversary last year. Both events were delayed due to the COVID-19 pandemic.
About 1,200 employees from the two companies’ Asia-Pacific offices – Hong Kong, Singapore, Sydney, Shanghai, Tokyo, and Gurugram – received tickets to Tokyo Disney Resort. The employees were joined by their families.
There were also private performances by Maroon 5 and DJ Calvin Harris, US media reported.
Citadel’s grand display of generosity follows others from across Asia, as firms in several industries rebounded strongly from the pandemic.
From Rolex watches to a mountain of cash, here are some other examples of workplace bonuses that went above expectations.
Earlier this year, Singapore-based restaurant operator Paradise Group dished out Rolex watches and Suisse gold bars to more than 330 workers. The company is behind brands such as Paradise Dynasty, Beauty in the Pot and Le Shrimp Ramen.
A video posted on Facebook in March showed staff members walking up to a table laden with Rolex watches.
The watches, which included models such as the Datejust, were reportedly gifted to 98 staff members who had been at Paradise Group for 10 years or more, regardless of their position.
The restaurant group told TODAY that the watches were procured from authorised Rolex dealers.
It marked Paradise Group’s second Rolex-giving exercise, with a previous round of long-term employees getting their luxury watches in 2018.
Staff members who had served between five and seven years at the company got Suisse gold bars weighing 2.5g, while those who had worked for eight or nine years got 5g gold bars.
Eight employees received travel vouchers worth S$5,000 (US$3,675).
Paradise Group spent close to S$2 million on the event, which includes the cost of the watches and other gifts.
SINGAPORE: Singapore and India on Tuesday (Feb 21) launched a real-time link to facilitate cross-border fund transfers between bank accounts or e-wallets, using mobile phones. This is possible through a tie-up between Singapore’s PayNow facility and India’s Unified Payments Interface (UPI). Customers of participating financial institutions can transfer funds using just their mobileContinue Reading