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Singapore Banking

Answers to test questions and links to explanations

Home > Teaching Business English > Business English Lessons, Advanced Level # 309

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Mahesh Kini of HSBC says that a stable government is committed to Singapore's multi-pronged growth by focusing on various sectors.

Correct answer: (c) pronged

Meaning of business term pronged
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Singapore's 2006 budget outlines many incentives for businesses operating in Singapore in the financial and related sectors.

Correct answer: (c) incentives

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In the pipeline is the Integrated Resorts project, a large entertainment complex featuring casinos, amusement parks, hotels, and convention centres, which is due to open in 2010.

Correct answer: (d) pipeline

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Such large government-backed initiatives and the drive to create a new tourism hub in Singapore bode well for the large tourism industry, which saw nine million tourists arrive on Singapore's shores in the past year.

Correct answer: (b) bode

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The MAS, in a step to liberalise commercial banking in Singapore, has provided qualifying full bank status to some foreign banks to provide a full suite of financial services to individuals and corporates and issued wholesale bank status to a number of foreign banks to serve commercial customers.

Correct answer: (d) suite

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Singapore is also seeing a trend to establish global treasury centres; Singapore's infrastructure, political stability and favourable time zone, located centrally in the Asia-Pacific region, have greatly benefited multinational corporations in supporting a global cash position.

Correct answer: (c) position

Meaning of business term position
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to begin and to start

Another growing trend is for companies to harmonize their supply chain and cash management to attain greater efficiencies.

Correct answer: (a) harmonize

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Singapore's finance industry has fully embraced Internet technology and is capitalising on this phenomenon to the fullest extent as a relatively inexpensive distribution and delivery medium to grow market share and improve profitability.

Correct answer: (b) embraced

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Besides online banking services, these banks as well as other companies that act as intermediaries and aggregators, have developed business-to-business, business-to-consumers, and even person-to-person transaction service initiatives.

Correct answer: (a) aggregators

Meaning of business term aggregators
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Singapore has one of the highest Internet penetration rates worldwide and all major banks provide Internet banking platforms and many also provide host-to-host capabilities to link up to companies' back-office operations for file transfers.

Correct answer: (c) penetration

Meaning of business term penetration
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Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
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