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Ease of Doing Business in

Singapore

Singapore Download Profile (1730.9KB, pdf)
Region East Asia & Pacific
Income Category High income
Population 5,535,002
GNI Per Capita (US$) 52,090
City covered Singapore

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 2 3 up
1
85.05 84.50 down
0.55
Starting a Business 6 7 up
1
96.49 96.49
-
Dealing with Construction Permits 10 24 up
14
81.75 78.69 up
3.06
Getting Electricity 10 10
-
91.32 91.22 up
0.10
Registering Property 19 22 up
3
83.58 82.33 up
1.25
Getting Credit 20 19 down
1
75.00 75.00
-
Protecting Minority Investors 1 1
-
83.33 83.33
-
Paying Taxes 8 9 up
1
91.85 90.78 up
1.07
Trading across Borders 41 41
-
89.30 89.30
-
Enforcing Contracts 2 2
-
83.61 83.61
-
Resolving Insolvency 29 28 down
1
74.31 74.31
-

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

DB 2017 Rank:

29

DB 2016 Rank:

28

Change in Rank:

down1

DB 2017 DTF (% points):

74.31

DB 2016 DTF (% points):

74.31

Change in DTF (% points):

0.00

Indicator Singapore East Asia & Pacific OECD high income
Recovery rate (cents on the dollar) info_outline 88.7 33.9 73.0
Time (years) info_outline 0.8 2.6 1.7
Cost (% of estate) info_outline 4 20.6 9.1
Outcome (0 as piecemeal sale and 1 as going concern) info_outline 1 .. ..
Strength of insolvency framework index (0-16) info_outline 8.5 7.1 12.1
  • Indicator Explanation Answer
    Recovery rate (cents on the dollar) 88.7
    Proceeding An application may be filed at the High Court to appoint a receiver. The receiver will try to sell Mirage as a going concern in order to maximize the return to BizBank. receivership
    Outcome The hotel will continue operating as a going concern after the receivership procedure, since the receiver and manager will seek to sell Mirage as a going concern to maximize the return for BizBank. going concern
    Time (in years) The receivership procedure until BizBank is repaid some or all of the money owed to it takes approximate 9 months. 0.8
    Cost (% of estate) The costs associated with the case would amount to approximately 4% of the value of the debtor's estate. Costs incurred during the entire insolvency process mainly include court fees (minimal), attorneys’ fees (0,5 - 1%), costs of notification and publication, receiver’s fees (3%) and auctioneer fees (0,5% - 1%). 4.0
    Answer Score
    Strength of insolvency framework index (0-16) 8.5
    Commencement of proceedings index (0-3) 3.0
    What procedures are available to a DEBTOR when commencing insolvency proceedings? (a) Debtor may file for both liquidation and reorganization 1.0
    Does the insolvency framework allow a CREDITOR to file for insolvency of the debtor? (a) Yes, a creditor may file for both liquidation and reorganization 1.0
    What basis for commencement of the insolvency proceedings is allowed under the insolvency framework? (a) Debtor is generally unable to pay its debts as they mature 1.0
    Management of debtor's assets index (0-6) 4.0
    Does the insolvency framework allow the continuation of contracts supplying essential goods and services to the debtor? Yes 1.0
    Does the insolvency framework allow the rejection by the debtor of overly burdensome contracts? Yes 1.0
    Does the insolvency framework allow avoidance of preferential transactions? Yes 1.0
    Does the insolvency framework allow avoidance of undervalued transactions? Yes 1.0
    Does the insolvency framework provide for the possibility of the debtor obtaining credit after commencement of insolvency proceedings? No 0.0
    Does the insolvency framework assign priority to post-commencement credit? (c) No priority is assigned to post-commencement creditors 0.0
    Reorganization proceedings index (0-3) 0.5
    Which creditors vote on the proposed reorganization plan? (a) All creditors 0.5
    Does the insolvency framework require that dissenting creditors in reorganization receive at least as much as what they would obtain in a liquidation? No 0.0
    Are the creditors devided into classes for the purposes of voting on the reorganization plan, does each class vote separately and are creditors in the same class treated equally? No 0.0
    Creditor participation index (0-4) 1.0
    Does the insolvency framework require approval by the creditors for selection or appointment of the insolvency representative? No 0.0
    Does the insolvency framework require approval by the creditors for sale of substantial assets of the debtor? No 0.0
    Does the insolvency framework provide that a creditor has the right to request information from the insolvency representative? No 0.0
    Does the insolvency framework provide that a creditor has the right to object to decisions accepting or rejecting creditors' claims? Yes 1.0

Note: Even if the economy’s legal framework includes provisions related to insolvency proceedings (liquidation or reorganization), the economy receives 0 points for the strength of insolvency framework index, if time, cost and outcome indicators are recorded as “no practice”.