BMI Singapore Petrochemicals Report 2012.pdf
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1、 2012 petrochemicals report issN 1749-2440 published by Business monitor international ltd. siNGapore INCLUDES BMIS FORECASTS Business Monitor International 85 Queen Victoria Street London EC4V 4AB UK Tel: +44 (0) 20 7248 0468 Fax: +44 (0) 20 7248 0467 Email: Web: http:/ 2012 Business Monitor Inte
2、rnational. All rights reserved. All information contained in this publication is copyrighted in the name of Business Monitor International, and as such no part of this publication may be reproduced, repackaged, redistributed, resold in whole or in any part, or used in any form or by any means graphi
3、c, electronic or mechanical, including photocopying, recording, taping, or by information storage or retrieval, or by any other means, without the express written consent of the publisher. DISCLAIMER All information contained in this publication has been researched and compiled from sources believed
4、 to be accurate and reliable at the time of publishing. However, in view of the natural scope for human and/or mechanical error, either at source or during production, Business Monitor International accepts no liability whatsoever for any loss or damage resulting from errors, inaccuracies or omissio
5、ns affecting any part of the publication. All information is provided without warranty, and Business Monitor International makes no representation of warranty of any kind as to the accuracy or completeness of any information hereto contained. SINGAPORE PETROCHEMICALS ANNUAL REPORT 2012 INCLUDES 5-YE
6、AR INDUSTRY FORECASTS Part of BMIs Industry Report has to import basic feedstock. ? Has modest domestic polyvinyl chloride (PVC) production. Opportunities ? Shell and ExxonMobils cracker projects will increase ethylene output and improve Singapores standing in the ethylene league table. ? Rising dem
7、and for monoethylene glycol. China to have 75% of global demand by 2015. ? Asias demand for petrochemicals expected to rise steadily, with China accounting for a large portion of incremental demand. This provides export opportunities. Threats ? It may be severely affected by an economic slowdown in
8、China. ? Rapidly growing Chinese and (inexpensive) Middle Eastern capacity expected to moderate demand growth for Singapore petrochemicals in 2010; new capacity coming onstream at a time when petrochemicals price cycle is emerging from low-point. Singapore Petrochemicals Annual Report 2012 Business
9、Monitor International Ltd Page 8 Singapore Political SWOT Strengths ? Singapore enjoys a very stable political system, following the countrys second change of leadership in 40 years, which saw Lee Hsien Loong son of the nations founder Lee Kuan Yew take over as prime minister in 2004. ? Official pro
10、mises have been made to eradicate Singapores reputation as an overprotective nanny-state, with efforts to enhance freedom of expression. Weaknesses ? Singapore is not a properly functioning democracy. The ruling Peoples Action Party has won all but six seats in parliament and the opposition is restr
11、icted from campaigning through tight control over political debate and frequent use of libel laws. ? The government has yet to improve the situation for the less well off in Singapore and there is a rising wage gap between the top earners and the lowest paid. Opportunities ? Lee is proving himself a
12、 capable leader, moving away from the shadow of his father by repeatedly calling for more openness. ? Singapore is leading its regional neighbours in signing free trade agreements. Increased regional integration is likely to give the country more influence in Asia. Threats ? There are fears that Sin
13、gapores foreign policy alignment with the US will cause the city-state to become a target for terror attacks launched by Muslim extremists. ? The last election showed that segments of the electorate are becoming disenchanted with the Peoples Action Party and its repression of opposition voices. Sing
14、apore Petrochemicals Annual Report 2012 Business Monitor International Ltd Page 9 Singapore Economic SWOT Strengths ? Singapores monetary policymakers have gained credibility by guiding the exchange rate to offset inflationary pressures while ensuring stable growth. ? Singapores current account surp
15、lus remains about 20% of GDP and its external finances are in good shape. This is reflected by the worlds credit rating agencies, which continue to award Singapore top marks for external strength. Weaknesses ? The trade-dependent economy remains exposed to global trends in demand for electronic good
16、s, which account for around half of Singapores non-oil exports. ? Singapore faces a number of long-term economic problems. Competition from low- cost neighbouring countries is on the increase and its population is ageing rapidly. Opportunities ? In the face of regional competition for both exports a
17、nd investment, the government is encouraging economic diversification to boost competitiveness. New areas being promoted include biomedical sciences, medical services, financial services and tourism. ? There may be increased prospects for Singapore to expand its investments in the Iskandar Malaysia
18、project (a government-directed economic corridor initiative) in Johor, following a cordial visit by Malaysian Prime Minister Najib Razak in May 2009. Threats ? There is significant state involvement in the private sector, with the government refusing to disclose the assets of the Government of Singa
19、pore Investment Corp (GIC). The GIC is one of the worlds largest institutional investors, managing foreign exchange reserves and government funds worth more than US$100bn. Without increased openness, investor confidence could be damaged and domestic growth hindered. ? Singapores exporters will need
20、constantly to adapt to competition from low-wage economies such as China and India. Singapore Petrochemicals Annual Report 2012 Business Monitor International Ltd Page 10 Singapore Business Environment SWOT Strengths ? Singapore is the least corrupt country in the world, according to Transparency In
21、ternationals 2010 Corruption Perceptions Index. ? Strikes and labour protests will remain rare, if not absent, for the foreseeable future owing to the governments autocratic insistence on a business-friendly environment. Policymakers will continue to use heavy-handed tactics to ensure unions stay pl
22、iant. Weaknesses ? Political and economic stability has come at a price. The government censors the media and limits the distribution of foreign publications. The judiciarys record of siding with prominent politicians calls into question the true extent of its neutrality in any contract dispute invo
23、lving a politically sensitive issue. Opportunities ? Owing to the lack of progress at the WTO, the government has committed the country to sign 18 bilateral free trade agreements with 24 trading partners. Singapore has already signed agreements with several countries, including the US, Japan, India
24、and Australia. ? Singapore has one of the best business operating environments in Asia. This is reflected by its second place in the Index of Economic Freedom league table compiled by Heritage Foundation and the Wall Street Journal. Threats ? Singapore is potentially at risk of a terrorist attack. T
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