SINGAPORE, April 21 (Xinhua) -- Nearly all businesses in Singapore are facing higher operating costs amid rising energy prices, with more than half also reporting growing manpower cost pressures, according to a snap poll by the Singapore National Employers Federation revealed on Monday.
The survey, conducted from April 10 to 16 and covering 210 companies across manufacturing, services and construction, found that 96 percent of respondents reported higher operating expenses. Of these, 41 percent saw moderate increases of 11 percent to 25 percent, while 19 percent experienced significant cost hikes exceeding 25 percent.
Utilities and fuel were the most commonly affected cost components, cited by 70 percent of respondents each, followed by materials and supplies (59 percent) and air and sea freight (53 percent).
Businesses said higher energy prices were also spilling over into broader operating costs, pushing up raw material, logistics and temporary labor expenses, particularly in hospitality, food and beverage, and retail sectors.
Looking ahead, 39 percent of respondents expressed a negative outlook for the next six to 12 months, citing concerns over global trade disruption and shifting supply chains.
Employers called for targeted support if energy prices remain elevated, with priorities including tax relief or financing assistance (83 percent), energy subsidies (77 percent), and delays to manpower policy changes (55 percent). ■
