About 300 employees laid off by China-linked Singapore firm
06-06-2025, 10:25 PM
https://www.channelnewsasia.com/business...?cid=FBcna&fbclid=IwQ0xDSwKv2ZNleHRuA2FlbQIxMQABHhJGaKdb0tV1D6lgXC4IrS0fQ55sieCvqsdOx7pXn4UHGXy9OSXautXfs9J4_aem_txyY5IGHl-ttDPXvKwmBOQ
06-06-2025, 10:44 PM
China Company based in Singapore.
07-06-2025, 08:05 AM
Sanction was imposed by the US. This means ending the US-led banking system. Have to ask the US for help, as the purpose is to end the whole group of companies. This is a state-linked company. The Singapore company is likely not directly involved as there is no oil trading here. Our regional countries allowed it.
If you look at Syria, previously, they were classified as terrorists. Now, they are partners.
Else, for the trading currency, it has to be in BRICs payment system. This is the only way forward in the future. This trade war will only intensify.
If you look at Syria, previously, they were classified as terrorists. Now, they are partners.
Else, for the trading currency, it has to be in BRICs payment system. This is the only way forward in the future. This trade war will only intensify.
07-06-2025, 08:29 AM
07-06-2025, 08:30 AM
(06-06-2025, 10:25 PM)[[ForeverAlone]] Wrote: https://www.channelnewsasia.com/business...?cid=FBcna&fbclid=IwQ0xDSwKv2ZNleHRuA2FlbQIxMQABHhJGaKdb0tV1D6lgXC4IrS0fQ55sieCvqsdOx7pXn4UHGXy9OSXautXfs9J4_aem_txyY5IGHl-ttDPXvKwmBOQ
China hates Singapore lah!

07-06-2025, 08:32 AM
Our MRT tunnelling networks are also built by whoever. US?
07-06-2025, 08:40 AM
(07-06-2025, 08:29 AM)cheekopekman Wrote: How can China have company in Singapore leh?
why u so dumb ?

07-06-2025, 08:52 AM
07-06-2025, 09:08 AM
(07-06-2025, 08:52 AM)cheekopekman Wrote: Chase them out of Singapore lah!
U chase out Sporns. Jek ark u

07-06-2025, 09:09 AM
07-06-2025, 09:14 AM
07-06-2025, 09:21 AM
It is highly likely that the BRICs payment system will be either in Malaysia or Indonesia.
07-06-2025, 09:44 AM
HaHa. It is a State owned company. The CNA reported tt the company was very “act-cy bola” with employee said "They act like high and mighty, (but) they leave us in the lurch,". It is this kind of attitude tt will put pple off.
Omni likes my post and he always bump it up for me. Thank u Omni.
07-06-2025, 09:48 AM
India has been trading with Iran using Rupees. Impossible to catch.
07-06-2025, 10:06 AM
07-06-2025, 10:11 AM
07-06-2025, 10:13 AM
07-06-2025, 10:14 AM
07-06-2025, 10:15 AM
The recent layoffs at CCIC Singapore, a China-linked firm facing U.S. sanctions over Iranian oil shipments, have raised several concerns regarding the company's handling of the situation.
Key Issues Identified:
1. Delayed Salary Payments: Employees reported that their May salaries were delayed, attributed by the company to its "pending liquidation." This delay has caused financial strain among the workforce.
2. Severance Pay Concerns: The severance package offered—two weeks' salary for every year of service—has been deemed inadequate by many, especially surveyors who rely heavily on overtime and allowances, which were not factored into the severance calculations.
3. Abrupt Termination: Employees were notified of their retrenchment on May 30, with terminations effective the following day. Such short notice provided little time for staff to prepare for the sudden job loss.
4. Lack of Transparency: There appears to have been minimal communication from CCIC Singapore regarding the implications of the U.S. sanctions and the company's subsequent decisions, leaving employees feeling "left in the lurch."
Context:
CCIC Singapore, a wholly-owned subsidiary of China's state-owned China Certification & Inspection Group, was among 15 companies sanctioned by the U.S. on May 13 for allegedly helping to conceal the origins of Iranian oil shipped to China. The sanctions have had significant repercussions, leading to the company's liquidation and the layoffs of approximately 300 employees.
Conclusion:
The situation underscores the broader impact of international sanctions on local employees and highlights the need for companies to manage such crises with greater transparency and consideration for their workforce.
Key Issues Identified:
1. Delayed Salary Payments: Employees reported that their May salaries were delayed, attributed by the company to its "pending liquidation." This delay has caused financial strain among the workforce.
2. Severance Pay Concerns: The severance package offered—two weeks' salary for every year of service—has been deemed inadequate by many, especially surveyors who rely heavily on overtime and allowances, which were not factored into the severance calculations.
3. Abrupt Termination: Employees were notified of their retrenchment on May 30, with terminations effective the following day. Such short notice provided little time for staff to prepare for the sudden job loss.
4. Lack of Transparency: There appears to have been minimal communication from CCIC Singapore regarding the implications of the U.S. sanctions and the company's subsequent decisions, leaving employees feeling "left in the lurch."
Context:
CCIC Singapore, a wholly-owned subsidiary of China's state-owned China Certification & Inspection Group, was among 15 companies sanctioned by the U.S. on May 13 for allegedly helping to conceal the origins of Iranian oil shipped to China. The sanctions have had significant repercussions, leading to the company's liquidation and the layoffs of approximately 300 employees.
Conclusion:
The situation underscores the broader impact of international sanctions on local employees and highlights the need for companies to manage such crises with greater transparency and consideration for their workforce.
07-06-2025, 10:24 AM
07-06-2025, 10:29 AM
(07-06-2025, 10:06 AM)cheekopekman Wrote: That's why I said I'm not a China Chinese lah!You can't understand meh?
China Chinese are in China lah!
You are not pure Chinese lah, remember you told us you also have northern Indian ancestry, correct or not, Mr Lee?🤣🤣🤣 So you are Indian Chinese born in Singapore lah. 🙏😂
[Image: https://i.gifer.com/7ZqO.gif]
07-06-2025, 10:31 AM
07-06-2025, 10:33 AM
(07-06-2025, 10:31 AM)cheekopekman Wrote: When did I say that leh?
5 years ago in the old Sgtalk forum. And you also told us your height is 1.62m☺️
[Image: https://i.gifer.com/7ZqO.gif]
07-06-2025, 10:35 AM
(07-06-2025, 10:29 AM)lvlrsSTI Wrote: You are not pure Chinese lah, remember you told us you also have northern Indian ancestry, correct or not, Mr Lee?🤣🤣🤣 So you are Indian Chinese born in Singapore lah. 🙏😂
![[Image: IMG-20250606-WA0001.jpg]](https://i.ibb.co/s97v8PcN/IMG-20250606-WA0001.jpg)
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https://media.tenor.com/CFVIVCpjT9MAAAAM...-laugh.gif
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