OPINION: Too Close for Comfort? - Jeya Segaram

The Diplomat Magazine, 20 Nov 2009
As Singapore emerges from its sharpest and most protracted recession, the city-state’s policymakers have been keen to emphasize the importance of immigrants to the country’s future well-being. But as Jeya Segaram discovers, the downturn has exacerbated simmering tensions over an immigration policy that some Singaporeans believe is too lax.
Adapting to life in Singapore hasn’t come easy for Xiao Li.
Leaving her family in Guangdong, China, Li (who asked her real name not be used) says adapting to what she calls a ‘pseudo-Western’ lifestyle has been difficult. But she says that although her new lifestyle has been an awkward fit, what has been hardest is overcoming the hostile attitude of natives in a country known for being a melting pot of different cultures.
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Singapore refuses to renew foreign journalist’s visa

Committee to Protect Journalist, 20 Nov 2009
New York, November 19, 2009—The Committee to Protect Journalists condemns the Singapore government’s refusal to renew British freelance journalist Benjamin Bland’s work visa and his application to cover the recently concluded Asia Pacific Economic Cooperation (APEC) summit meeting. Bland was reporting on the summit for the U.K.’s Daily Telegraph newspaper.
Bland’s visa renewal application was rejected without explanation by the Manpower Ministry on October 1, according to Bland. When the reporter inquired why the government refused, the ministry’s senior assistant director, Yeo Kim Huat, told him on October 15 that, after internal discussions, officials decided that they could not disclose their reasons for the rejection.
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Enforced hibernation - Asian Correspondent

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Singapore concerned about brain drain

ABC Radio Australia, 20 Nov 2009
In Singapore, where authorities are concerned about a potential brain drain.
Top Singapore students who're awarded scholarships often choose to go abroad to study, for several reasons, including overseas exposure and getting a degree from a world-renowned university. Now, a former senior minister, S Dhanabalan has spoken up against this. He says Singapore should encourage its best and brightest to get their first degree from a local university adding that people in the top echelons must have not just global experience, but also a good understanding of Singapore.
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Vietnam's salt sand export extended until June 2010

VietNamNet Bridge, 20 Nov 2009
According to the guidance released on November 17 by deputy prime minister Hoang Trung Hai, from now till June 2010 is the time for custom offices and sand exporters to move the volume of sand stuck at ports because of the decision to ban the export of sand of all kinds.
Previously, businesses who had recovered this kind of sand complained to the Prime Minister and related agencies about losses of a billion dong due to the sudden ban on export.
This sand is not used in construction. It is exported, mainly to Singapore, to serve sea encroachment projects.
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Singapore Airlines, Continental take top honors in OAG 'Airline of the Year' awards

USAToday.com, 19 Nov 2009
Singapore Airlines was named the 2009 OAG Airline of the Year and took two other "best of" categories. Renowned for its upscale service, Singapore is a perennial winner in global airline surveys and awards.
As for Continental, it took the OAG honors for "Best Business Class" and for "Best Airline Based in North America." Read on for a list of other winners in this year's OAG rankings.
Airline of the Year: Singapore Airlines
Best Trans-Atlantic Airline: Virgin Atlantic
Best Trans-Pacific Airlines: Singapore Airlines
Best International First Class: Singapore Airlines
Best Business Class: Continental Airlines
Best Economy Coach Class: British Airways
Best Airline Based in North America: Continental
Best Airline Based in the Middle East/Indian Sub-Continent: Emirates
Best Low-Cost Airline: Southwest Airlines
Best Airline Based in Central South America & Caribbean: LAN
Best Airline based in Africa: South African Airlines
Best Airlines based in Western Europe: Virgin Atlantic
Best Airline Based in Central/Eastern Europe: CSA Czech Airlines
Best Airline Based in Australia/Pacific: Qantas
Best Airport: Singapore Changi
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Related:
OAG picks Singapore as 'Airline of the Year' - Airline Biz Blog

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Asian Governments Indicate They May Take Action to Deter Speculation

The New York Times, 19 Nov 2009
As a tumultuous year for Asian real estate comes to an end, it seems that regulators are likely to try to cool the market next year — as hard as that might be to believe.
In early November, Singapore also suggested it would introduce cooling measures. The Monetary Authority of Singapore said there should be “close monitoring” of home prices and transactions. The central bank already had scrapped a system of “interest-only” loans, which the bank believed was making it easy to “flip” apartments.
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Lim Hwee Hua: Many Airlines Still Face Margin Pressure

The Wall Street Journal, 20 Nov 2009
SINGAPORE -- Singapore's second minister for finance and transport Lim Hwee Hua on Friday said that many airlines were still suffering from sharp declines in yields and profitability and the industry faces a second round of threat from rising oil prices and worries of a second wave of the H1N1 strain of influenza this winter season.
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Singapore Minister: Many Airlines Still Face Margin Pressure - Nasdaq

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Temasek's subsidiary sold stake in Black Gold Energy to Niko Resources

Calgary Herald, 19 Nov 2009
CALGARY - Stock in Calgary-based international explorer Niko Resources Ltd. jumped by three per cent or $2.91 to $87.59 Thursday after it announced it is buying Black Gold Energy LLC, its partner in several offshore exploration blocks in Indonesia.
Niko said it will pay $310 million for Black Gold, to be raised by issuing convertible debentures to a subsidiary of Temasek Holdings, an investment company owned by the Singapore government that is the largest shareholder in the private company. The debentures will mature in three years, pay five per cent per year and carry a conversion price of $110.50 per Niko share.
Niko chairman and chief executive Ed Sampson said Temasek asked for the deal to be structured as it is so that it can potentially wind up with 5.5 per cent of Niko.
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Singapore admits making mistake in Chinese rote learning policy

The China Post, 20 Nov 2009
Singapore's former Prime Minister Lee Kuan Yew said that the city started 'completely wrong' in Chinese language learning, admitting that it is a mistake to teach Chinese by enforcing rote learning.
“A language is first listened to, heard and then spoken. It's not read or written — that follows later,” Lee said as quoted by news Web site Asiaone.com, “We started the wrong way. We insisted on spelling and dictation.”
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Southeast Asia's biggest anime festival to be staged in Singapore

Japan Today, 20 Nov 2009
Thousands of anime fans are expected to throng Southeast Asia’s biggest anime festival that will be held in Singapore this weekend to cater to the craze for Japanese pop culture in the region. The show featuring ‘‘all things related to Japanese animation and popular culture’’ will be held at Suntec City Convention Center in downtown Singapore and promises to be even bigger than the first one last year.
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Singapore defamation case threatens press freedom

Amnesty International USA, 19 Nov 2009

The Singaporean parliament should enact new legislation protecting freedom of expression, Amnesty International said on Wednesday, after a magazine and its editor agreed to pay S$405,000 (Approximately US$290,000) following a fine by the country’s highest court for alleged defamation.
The Dow Jones Company-owned Far Eastern Economic Review (FEER) magazine and its editor Hugo Restal had published an article critical of Prime Minister Lee Hsien Loong and his father, former Prime Minister Lee Kuan Yew.
The 2006 article entitled "Singapore's 'Martyr', Chee Soon Juan", contained allegations against the two leaders, including of corruption, which the Singapore Court of Appeal ruled as defamatory.
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Amnesty: Singapore defamation ruling attacks press - The Jakarta Post
Singapore defamation ruling attacks free press: Amnesty - The China Post

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Tiger Airways Mulls IPO Next Year

The Wall Street Journal, 19 Nov 2009
SINGAPORE — Singapore low-cost carrier Tiger Airways is considering an initial public offering of at least $500 million some time next year, a person familiar with the situation said.
"At this time they are considering a $500 million minimum, but it could change. They have the agreement of shareholders. They need to fund their expansion in Australia and the purchase of new planes," the person said, adding that Tiger Airways is considering listing 30% of its share capital.
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Singapore Expects Growth, But Asset Bubbles a Worry

The Jakarta Glob, 19 Nov 2009
Singapore sees a return to modest growth and higher inflation next year, which may spur the central bank to tighten policy in April by allowing its currency to gradually strengthen.
The central bank joined other policy makers around Asia in saying it was watching property prices and lifted its 2010 inflation forecast to between 2.5 and 3.5 percent on Thursday, as a flood of foreign investment raises asset bubble worries.
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StarHub scoops Russian news channel

C21Media, 19 Nov 2009
Singaporean pay-TV provider StarHub TV is launching a 24-hour English-language news channel, adding to its stable of international broadcasting.
Russia Today will transmit live via a GlobeCast satellite from Moscow from December 1, offering a Russian perspective on international current affairs, entertainment and sports.
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SingTel launches traffic planning guide TrafficLive

CNET Asia, 19 Nov 2009
It seems Google isn't the only one hogging the traffic news today. Singapore telco operator SingTel has just announced its traffic planning guide dubbed TrafficLive.
The service, which is supported on all WAP handsets, will be available from November 20. Data charges are waived, but users will still need to pay S$0.21 on a pay-per-use basis or subscribe to a monthly plan for S$3.21. The service is free for six months for those who purchase selected handsets and sign up for TrafficLive between November 20 and 29.
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Singapore debuts Ambient Experience to relax heart patients

CNET Asia, 19 Nov 2009
Cardiac patients undergoing procedures at the National Heart Centre Singapore (NHCS) from today may find themselves either immersed in a Disney World setting or the African Savannah with accompanying audio playing in the background. This is part of a testbed project by the center involving Philips' Ambient Experience to soothe patients through the intimidating clinical process of preparation, examination, treatment and post procedure.
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S'pore slumped dramatically in Gunn Report 2009

Media.asia, 19 Nov 2009
GLOBAL – Japan has maintained its position as the fifth most-awarded advertising market in the world, but Thailand and Singapore’s rankings slumped dramatically in the latest Gunn Report.
The Gunn Report, which tracks performance in the world's leading award shows, noted that there was remarkable consistency in the top 10 countries, with two notable exceptions in 2009.
Singapore, 13th last year, but with five previous top 10 rankings to its credit, slumped to 20th position with only 19 points, by far its lowest points total ever.
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GIC among the likely bidders for Shanghai's most expensive real estate

China Daily, 19 Nov 2009
Hutchison Whampoa and Sun Hung Kai Properties are likely to enter the bidding race for Shanghai's most expensive piece of real estate, according to industry sources.
Analysts estimate that the plot, located in the future Bund international financial service center, could fetch an auction price of nearly 11 billion yuan, making it the most expensive piece of realty in the mainland.
Officials with the Huangpu district government, owner of the plot, refused to reveal the base price for bidding, but said they expect the price to between 9 billion and 11 billion yuan indicating that the per sq m cost of the plot would be around 40,000 yuan by gross floor area.
Prominent among the other companies that participated in the meeting are CITIC Pacific, Swire Properties, GIC Real Estate, the Government of Singapore Investment Corp, and the Shanghai-based 'land king' Greenland Group.
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OPINION: Why SingTel should sell Optus - Paul Budde

Business Spectator, 19 Nov 2009
The rumour about SingTel being interested in selling Optus does not come as a surprise, as it makes perfect sense for more than one reason.
First of all there is SingTel’s success in the Asia mobile market. It is one of the few international mobile operators that has been able to move out of its national market and succeed in the international marketplace.
Most of these markets still have enormous growth potential, while Australia, and Singapore for that matter, are saturated markets. Optus easily represents the largest operating unit within SingTel and as such is key to the financial possibilities of the organisation; so looking at leveraging Optus as a possibility for its potential growth makes sense.
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Tiger Airways expected to continue posting losses

etravelblackboard.com, 19 Nov 2009
Tiger Airways has said that it will be posting its financial accounting for the half year soon with Singaporean regulators, but already many have predicted that there will be plenty of red ink.
With a US$30 million loss for the financial year to March 2009, Tiger Airways has only once made a financial year profit since its launch in 2004. And most analysts believe that its Australian arm isn’t helping matters.
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Singapore declares its recession over

AFP
SINGAPORE — Singapore on Thursday declared a severe recession over as data showed its economy grew for the second straight quarter in the three months to September.
Official data released Thursday showed gross domestic product (GDP) expanded 14.2 percent in the July-September period on a quarter-on-quarter annualised basis following a 21.7 percent surge in the previous quarter.
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Singapore declares its recession over - Bangkok Post
Singapore declares its recession over - The China Post

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Singapore Says Economy May Expand 3% to 5% Next Year

Bloomberg.com, 19 Nov 2009
Nov. 19 (Bloomberg) -- Singapore said its economy will expand next year after exiting the deepest recession since independence in 1965, adding to evidence of a regional recovery that’s prompted some policy makers to start removing stimulus.
The economy will grow 3 percent to 5 percent in 2010 after shrinking as much as 2.5 percent this year, the trade ministry said in a statement today. Gross domestic product climbed a revised annualized 14.2 percent last quarter from the previous three months, the second consecutive expansion, it said.
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Singapore seen revising down Q3 GDP growth slightly - Interactive Investor
Singapore expects economy to grow up to 5 per cent next year - Monster and Critics
Singapore Q3 Revised GDP +14.2% On Quarter - RTTNews
Singaporean economy expands for second-straight quarter - GMANews.TV
Singapore economy expands for 2nd straight quarter - The Associated Press
Singapore Out Of The Red, Sees Growth in 2010 - International Business Times

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MAS: no change in underlying inflation

Reuters, 19 Nov 2009
SINGAPORE, Nov 19 (Reuters) - Singapore said on Thursday that an upward revision in its forecast for the consumer price index in 2010 was due to a pending increase in property tax rather than any broader increase in underlying inflation.
Singapore revised its inflation forecast for 2010 to a range of 2.5 percent to 3.5 percent, from an earlier projection of 1-2 percent, citing an increase in the property tax that will take effect next year.
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Turkish universities to collaborate with Singapore’s NTU

Today's Zaman 19 Nov 2009
Singapore’s leading science and technology university -- Nanyang Technological University (NTU) -- has signed cooperative agreements with four top Turkish universities as it ramps up efforts at international research partnerships.
This partnership, the first ever between NTU and Turkish universities, will provide opportunities for students, faculty and staff exchanges and joint research activities, which include organizing workshops, supervising doctoral students and exchanging information and research materials.
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