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Singapore Standard Industrial Classification (SSIC)

Singapore Standard Industrial Classification (SSIC). Singapore Standard Industrial Classification (SSIC). Adopts Basic framework and principles of the ISIC with modifications to meet national requirements

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Singapore Standard Industrial Classification (SSIC)

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  1. Singapore Standard Industrial Classification (SSIC)

  2. Singapore Standard Industrial Classification (SSIC) • Adopts • Basic framework and principles of the ISIC with modifications to meet national requirements • Similar hierarchical structure as the ISIC; most detailed classification is at 5-digit level

  3. Singapore Standard Industrial Classification (SSIC) • Revision of the SSIC • Once every 5 years • The SSIC 2005 is the ninth and most current edition • Consultation for SSIC 2010 began in mid 2008, with inputs received from major stakeholders and agencies with specialized knowledge in industries under their purview • SSIC 2010 is scheduled to be finalized in 2009

  4. Singapore Standard Industrial Classification (SSIC) Comparison between ISIC and SSIC Based on the review so far, some modifications are being considered for SSIC 2010 to suit the local context e.g. • Section A and B – Less details for Agriculture, Mining and Quarrying • Section C – No separate two-digit division for repair & installation of machinery and equipment

  5. Singapore Standard Industrial Classification (SSIC) Comparison between ISIC and SSIC (cont’d) • Section E – Combine codes for collection of hazardous and non-hazardous waste • Section G – Repair/maintenance of vehicles under Section S: Other Services instead of Section G: Wholesale and Retail Trade • Section H – No differentiation of inland and coastal/sea water transport

  6. Singapore Standard Industrial Classification (SSIC) Comparison between ISIC and SSIC (cont’d) • New codes for emerging activities e.g. - manufacture of biofuels - integrated resorts - hedge fund managers

  7. Singapore Standard Industrial Classification (SSIC) Issues • Government Statutory Boards which perform regulatory and other functions – basis for classification: VA, predominant function • Collective Investment Funds (ISIC 6430) – classification for funds where underlying assets is non-financial e.g. real estate, ships • Integrated Resort – hotel, casino, theme park, exhibition space

  8. Thank You

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