Investment Thesis
Robust demand for jobs in Singapore. Singapore is experiencing a robust recovery in jobs. In 1Q22, employment rose by 42,000. Employment growth was across all sectors including 17,500 from services. Financial and professional services enjoyed the largest growth in employment in more than a decade. PMET vacancies were the highest on record, at around 70,000. A tight labour market and difficulty in sourcing candidates invariably led to higher reliance on recruitment agencies. Hiring managers have no desire to spend hours interviewing and assessing candidates. It is a waste of a hiring manager’s precious time. Clients want recruiters to identify the best one or two options for them. The ratio of job vacancies to unemployed persons in 1Q22 was 2.4, the highest since 3Q97.
Figure 1: Surge in vacancies in Singapore
Paul has 20 years of experience as a fund manager and sell-side analyst. During his time as fund manager, he has managed multiple funds and mandates including capital guaranteed, dividend income, renewable energy, single country and regionally focused funds.
He graduated from Monash University and had completed both his Chartered Financial Analyst and Australian CPA programme.