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APAC Edition
5th November 2024
 
THE HOT STORY
Australian federal police begin search of PwC headquarters in Sydney
Australian federal police have launched an investigation into PwC Australia's Sydney office as part of a tax scandal inquiry. Chief executive Kevin Burrowes informed partners to anticipate law enforcement presence at the site to review files. The investigation, which began in 2023, focuses on historical tax matters and individuals who have departed from the firm. In an email to staff on Monday, Burrowes said they should expect police to remain inside the Sydney headquarters for “several days,” adding “This step is an expected development in relation to an investigation the AFP commenced in 2023 into the historical tax matter and individuals who have left our firm . . . We have been working with the AFP to facilitate its attendance and will continue to cooperate with its investigation.” Burrowes urged staff to “please carry on as usual and remain focused on the important work we're delivering with our clients and in the community.”
HIRING
Initiative aims to attract more skilled workers to Malaysia
Johor is poised to become the first Malaysian state to offer starting salaries of RM4,000 for diploma holders and RM5,000 for degree holders in specific sectors linked to the Johor-Singapore Special Economic Zone (JS-SEZ). Deputy Prime Minister Zahid Hamidi announced that the newly established Johor Talent Development Council (JTDC) will play a crucial role in achieving this goal. He said: “This could also ensure that the 100,000 quality job opportunities expected to be created under the JS-SEZ will be taken up.” Currently, around 74,000 jobs are available, with only 52,000 filled, indicating a demand for high-paying positions. The initiative aims to attract skilled workers amid competition from Singapore, where salaries are more competitive. The Human Resources Development Corporation is set to allocate RM20m to support the JTDC's efforts in training and developing talent.
Thai workers set for Singapore
The Labour Ministry of Thailand is focusing on exporting more Thai workers to Singapore, particularly in its shipyard sector. Labour Minister Phiphat Ratchakitprakarn said that discussions with Singaporean officials and entrepreneurs aim to expand the labour market there. Currently, nearly 4,000 Thais are employed in Singapore, mainly in construction and production roles. Phiphat highlighted the opportunity for Thais to enhance their skills and support their families financially. He observed: "It is a good opportunity for Thailand to export more workers," as Singapore seeks skilled welders and construction workers to support various projects, especially in shipbuilding. Interested individuals can find more information at the Department of Employment in their province.
WORKFORCE
India's capital-intensive sectors drive job growth
India's employment landscape is shifting, with capital-intensive sectors outpacing labour-intensive ones in job growth, according to a Goldman Sachs report. The report highlights that "over the last 10 years, capital-intensive sub-sectors . . . have seen higher employment growth on average versus the labour-intensive sectors." While capital-intensive industries like chemicals and machinery have thrived, employing 17m workers in the organised manufacturing sector as of FY22, labour-intensive sectors still account for a significant share of jobs. The government's Production-Linked Incentive schemes have primarily targeted capital-intensive industries, but there is a recent push to support labour-intensive sectors such as textiles and footwear. Overall, construction remains a major employment generator, providing jobs for about 13% of the workforce, while the service sector, led by business services and retail trade, comprises 34% of total employment.
DIVERSITY, EQUITY & INCLUSION
Fostering inclusive workplaces in Hong Kong for staff with ADHD
For ADHD awareness month in October, advocates in Hong Kong are highlighting the workplace challenges faced by people with the condition, and are urging employers to improve their awareness and foster more inclusive work environments. Amanda Fok Choi-ling, the founder of the Let's Talk ADHD patient group, said workers with ADHD tend to hide the condition for fear of being stigmatised. "Some of our members disclosed their condition, especially after being given a poor appraisal, but employers mostly reacted with fear and avoided further interaction, afraid of being accused of discrimination if they said something wrong," she said. "Others thought they were using ADHD as an excuse for their poor performance."
Boeing axes diversity department
Boeing has disbanded its global diversity, equity and inclusion (DEI) department, merging its staff with another human resources team focused on talent and employee experience. Sara Liang Bowen, the former vice president of the DEI office, announced her departure on LinkedIn, saying: "It has been the privilege of my lifetime to lead Equity, Diversity, and Inclusion at the Boeing company these past 5+ years."
TAX
U.S., Taiwan set to hold talks on double taxation
The U.S. and Taiwan are set to hold talks on double taxation in the coming weeks, the U.S. Department of the Treasury has said. Washington and Taipei do not have formal diplomatic relations, and the lack of a tax agreement means Taiwanese businesses and individuals are taxed on their income by both the U.S. and Taiwanese governments if they work or live in both nations. Both countries can benefit from a comprehensive tax agreement, because it would “reduce double taxation barriers for further investment by Taiwan into the United States, and vice versa, particularly for the small and medium-sized enterprises that are crucial to a complete semiconductor ecosystem,” the treasury said.
INTERNATIONAL
US leaders need to protect their organisation and their people this week
Writing for Forbes, Paul Klein says all corporate leaders in the United States need to consider the impact of the election on their organisations and their people, observing that "A win on either side could result in radically disparate futures along with the potential for threats, protests, and other disruptions." He offers tips that he says leaders can use to help shape what their organisations can do proactively and how they can respond to events that are unexpected, including being authentic to what their organisation stands for, staying neutral in company messaging, establishing a relationship with law enforcement, leveraging resources on security measures already implemented for the election which address common disinformation narratives, and ensuring chief diversity officers play a key role in fortifying organisations against internal disruption and division. He also highlights the importance of providing resources for emotional and psychological support, noting that this election is highly stressful for employees and mental health resources can help employees navigate emotions constructively. 
First four-day week trial under Labour
One thousand UK workers will receive additional paid time off as part of the first official pilot under the Labour government by the four-day week campaign. Seventeen businesses are participating in the trial, which aims to explore the benefits of a shorter working week. The latest trial led by the 4 Day Week Campaign launches today, and the results will be presented to the government this summer. Joe Ryle, the director of the 4 Day Week Campaign, said: “We don’t have to just imagine a four-day week any more, because it’s already a reality for hundreds of businesses and tens of thousands of workers in the UK.”
Sick man of Europe? Germany’s bosses sound alarm on staff illness
German business executives say high levels of sick leave are damaging the competitiveness of Europe’s largest economy. Workers are said to have missed an average of 19.4 days because of illness in 2023.
OTHER
Telcos face backlash over 3G shutdown
Australian consumers are expressing frustration over the recent shutdown of the 3G network, which has left many with 4G and 5G-compatible phones unable to connect. Sujay Jain, a 24-year-old auditor, shared his experience, stating "I honestly feel cheated" after being forced to consider purchasing a new phone despite having spent $1,000 on a 5G-compatible device. Retiree Bridget Clinch, who spent $2,000 on her 5G-compatible ROG Phone 5, was similarly blindsided, saying "That $2,000 phone that works fine is now e-waste". The Australian Competition and Consumer Commission (ACCC) is monitoring retailers to ensure compliance with consumer laws, as businesses must not mislead consumers regarding device compatibility. Telcos like Optus and Telstra are required to block devices unable to access emergency services, leading to widespread discontent among users.
 


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