Download 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
– Similar hierarchical structure as the ISIC;
most detailed classification is at 5-digit level
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
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
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
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
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
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