Enterprises
Depreciation
Refers to the decline in value of physical assets (such as buildings,plant and machinery) over time, measured at current replacement cost. This decline occurs due to normal wear and tear from use, technological obsolescence, and typical accidental damage. Depreciation represents the portion of an asset's value that is consumed during a specific accounting period.
Enterprise
Refers to an incorporated or registered entity (such as company, sole-proprietorship, partnership, association or society, etc).
Foreign Enterprises
Majority foreign-owned enterprises refer to enterprises with less than 50% local equity.
Gross Operating Surplus
The surplus accruing to owners from production before deducting property incomes payable on financial assets and other natural resources required to carry on the production. Estimates for Gross Operating Surplus are mainly derived as the value of output less intermediate consumption, Compensation of Employees and Other Taxes less Subsidies on Production. National accounts adjustments such as financial intermediation services implicitly measured (FISIM) and capitalisation of software as well as research & development (R&D) expenditure are incorporated.
Local Enterprises
Majority local-owned enterprises refer to enterprises with at least 50% local equity.
Non-SMEs
Non-SMEs are defined as enterprises with operating revenue more than $100mil and employment more than 200 workers.
Operating Expenditure
Refers to costs incurred in an entity's day-to-day operations, adjusted for changes in inventory. These expenses are fully recognised in the current accounting period and include remuneration, purchases of goods and materials, work contracted out, rental and maintenance of premises, machinery and equipment, professional services, utilities, transport, advertising, depreciation, indirect taxes, and other expenses directly related to the entity's operations. This excludes capital expenditure, loan principal repayments, and interest expenses.
Operating Revenue
Refers to income generated from an entity's operational activities, including both primary and secondary activities. This generally excludes investment income, gains (net of losses) from asset sales, or other non-operating sources, though specific inclusions may vary by industry.
For Services industry: This includes income from services rendered, sale of goods, commission fees, and rental of premises, machinery and equipment.
For Utilities industry: This includes income from supply or resale of utilities (such as electricity, gas, and water), resale of other goods (such as recycled materials), and provision of environmental health services including waste treatment and disposal.
Small and Medium Enterprises
Defined as enterprises with operating revenue not more than $100mil or employment not more than 200 workers.
Remuneration
Comprises all forms of compensation provided to employees and includes:
- Wages and salaries including commissions, bonuses and overtime pay before deduction of employee's contribution to CPF or any other deductions, as well as paid annual leave and paid sick leave.
- Employer's contribution to CPF and pension funds, but excludes pension and gratuities paid to retired employees.
- Stock options and other share-based payments given to employees as part of their remuneration package.
- Staff benefits such as medical care, meals, housing, transport, and other benefits-in-kind provided to employees by the firm, but excludes retrenchment benefits, entertainment allowances, cost of staff uniforms, and travel, accommodation, and other daily allowances provided in connection with business travel (i.e. per diems).
SMEs
SMEs (i.e. Small & Medium Enterprises), are defined as enterprises with operating revenue not more than $100mil or employment not more than 200 workers.