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Singapore: Crisis in Electronics

The Electronics industry in Singapore has reached rock-bottom level and the current outlook spells a bleak prospect for next year.

At least three electronics forms have closed down because of extremely poor market demands while eight other firms shifted their operations out of Singapore.

Describing the electronics business here as "stagnant", Mr Brian Lee, secretary of the Singapore Association of Electronics Industry, said there has not been any sign of recovery.

About 17,000 people were retrenched last year — two thirds of them from the electronics industry. Some 24,570 unemployed people registered for jobs with the Labour Ministry's Employment Service Section. About 7,000 job vacancies were found for them.