Cerebos

First Part: Macro-economic analysis

Due to the consideration the majority markets of Cerebos, we take Singapore market and China market as the main analysis objects as following.

A. Singapore Macro-economic analysis:

1. Singapore Gross Domestic Product (GDP) and purchasing power:

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From historical charts, we can observe that the GDP of Singapore owns a rapid growth rate ever.

In spite of temporal shrink in from 2008 to 2009, Singapore GDP of Dec/2010 is reported as 222.70, compared to previous 183.33.

Though the GDP annual growth rate has fluctuate significantly since 2008, even below 0 temperately, it is optimistic that Singapore economy will thrive through the world crisis and prosper thereafter.

As indicated as the last chart, Singapore GDP based on population purchasing power parity per capita GDP increases steadily: according to the International Monetary Fund (IMF), the GDP based on Purchasing Power Parity (PPP) per capita GDP in Singapore was reported at 50522.72 U.S. dollars in 2009, and is expected to reach 67061.15 U.S. dollars in 2015.

2. Singapore Inflation rate and Interest rate:

Compared to astonishing inflation rocketing of other Asian countries, especially China, Singapore has a reasonable CPI rate and acceptable inflation rate: from 3% to 5% is the rational rate agreed internationally.

3. Interest Rate:

Meanwhile, the Interest rate keeps at low level below 4%, and drags near zero, which reflects the propellant macro-economic policy of government under the consideration of world deflationary economy.

4. Singapore economic demography: Population and Unemployment rate

Singapore population increase steadily and reached 5.08 million in December 2010, while the unemployment rate keeps at a very low rate below 3.3%.

5. Singapore Income tax:

Generally, Singapore tax revenue comprise two parts: corporate taxes on companies and Individual income tax: the latter, payable on an annual...