Reuters, 31 May 2009, Eveline Danubrata
SINGAPORE (Reuters) - Myanmar said on Sunday that the trial of democracy icon Aung San Suu Kyi was in line with its laws and was a domestic issue other countries should not interfere with. "The legal action against Aung San Suu Kyi is merely the internal affairs of Myanmar, taking action through its legal system in accordance with domestic law," said Major General Aye Myint, Myanmar's Deputy Minister of Defense, at the Asia Security Conference in Singapore.
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Related News:
Burma Defends Trial of Aung San Suu Kyi - VOA News
Asians talk of peace, haggle over arms
Reuters, 31 May 2009, Nopporn Wong-Anan
Asia's defense policymakers spoke of peace in the region's top security conference in Singapore, but have been also huddling in the corridors of a luxury hotel haggling over deals with arms suppliers.
The annual Asia Security Conference, a forum for discussion, brought together some of the world's main arms-makers with military chiefs nervously eyeing their neighbors' moves and looking to upgrade defenses in a region full of long-running insurgencies, potential maritime disputes and growing wealth.
Read More
Asia's defense policymakers spoke of peace in the region's top security conference in Singapore, but have been also huddling in the corridors of a luxury hotel haggling over deals with arms suppliers.
The annual Asia Security Conference, a forum for discussion, brought together some of the world's main arms-makers with military chiefs nervously eyeing their neighbors' moves and looking to upgrade defenses in a region full of long-running insurgencies, potential maritime disputes and growing wealth.
Read More
US Defense Secretary Grounded In Singapore
The New York Times, 31 May 2009, ELISABETH BUMILLER
Defense Secretary Robert M. Gates was grounded by his own plane on Sunday when the specially fitted 747 he uses for travel broke down because of a series of mechanical problems. Mr. Gates, who was due to travel to Manila on Sunday, instead spent another night in Singapore, where he has been since Friday for a regional security conference.
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Defense Secretary Robert M. Gates was grounded by his own plane on Sunday when the specially fitted 747 he uses for travel broke down because of a series of mechanical problems. Mr. Gates, who was due to travel to Manila on Sunday, instead spent another night in Singapore, where he has been since Friday for a regional security conference.
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Singapore, Australia ink agreement on military training
Xinhua, 31 May 2009
SINGAPORE, May 31 (Xinhua) -- Singapore and Australia signed here on Sunday the new Shoalwater Bay Training Area (SWBTA) Memorandum of Agreement (MOA) on the sidelines of the eighth Asia Security Summit.
The new MOA allows the Singapore Armed Forces (SAF) to continue training at the SWBTA till 2019. The vast and challenging terrain at the SWBTA enables the SAF to hone its operational readiness through tough and realistic training.
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SINGAPORE, May 31 (Xinhua) -- Singapore and Australia signed here on Sunday the new Shoalwater Bay Training Area (SWBTA) Memorandum of Agreement (MOA) on the sidelines of the eighth Asia Security Summit.
The new MOA allows the Singapore Armed Forces (SAF) to continue training at the SWBTA till 2019. The vast and challenging terrain at the SWBTA enables the SAF to hone its operational readiness through tough and realistic training.
Read More
Singapore confirms 5th Influenza A/H1N1 case
Xinhua, 31 May 2009
SINGAPORE, May 31 (Xinhua) -- Singapore's Health Ministry confirmed on Sunday the country's fifth Influenza A/H1N1 case.
The ministry said that the patient has been admitted to local hospital and her symptoms are mild and she is in stable condition.
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Related News:
Singapore confirms 5th Influenza A(H1N1) case - The Hindu
SINGAPORE, May 31 (Xinhua) -- Singapore's Health Ministry confirmed on Sunday the country's fifth Influenza A/H1N1 case.
The ministry said that the patient has been admitted to local hospital and her symptoms are mild and she is in stable condition.
Read More
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Singapore confirms 5th Influenza A(H1N1) case - The Hindu
Teo Chee Hean: Military transparency crucial to avoid misunderstandings
Xinhua, 31 May 2009
SINGAPORE, May 31 (Xinhua) -- Military transparency plays a crucial role in avoiding misunderstandings and increasing trust and confidence for the Asia-Pacific, Singapore's Deputy Prime Minister and Minister for Defense Teo Chee Hean said here on Sunday.
Teo spoke at the 8th Asia Security Summit (Shangri- La Dialogue) that military transparency "is not an end in itself but a means to peace and stability," and it needs to operate at three levels, namely disclosure armaments and arsenals, statements of strategic intent, cooperative and inclusive action.
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SINGAPORE, May 31 (Xinhua) -- Military transparency plays a crucial role in avoiding misunderstandings and increasing trust and confidence for the Asia-Pacific, Singapore's Deputy Prime Minister and Minister for Defense Teo Chee Hean said here on Sunday.
Teo spoke at the 8th Asia Security Summit (Shangri- La Dialogue) that military transparency "is not an end in itself but a means to peace and stability," and it needs to operate at three levels, namely disclosure armaments and arsenals, statements of strategic intent, cooperative and inclusive action.
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Amnesty International Report 2009 - Singapore
Amnesty International
An easing of restrictions on freedom of assembly was overshadowed by heavy penalties and restrictive measures imposed on opposition activists, journalists and human rights defenders. Suspected Islamic militants remained detained without charge or trial under the Internal Security Act (ISA), amid concerns that some were at risk of torture and other ill-treatment during questioning. Foreign domestic workers continued to be excluded from legislation protecting the rights of foreign workers. Singapore rejected the UN General Assembly resolution calling for a moratorium on executions. At least five prisoners faced imminent execution, although the number of actual executions was unknown.
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An easing of restrictions on freedom of assembly was overshadowed by heavy penalties and restrictive measures imposed on opposition activists, journalists and human rights defenders. Suspected Islamic militants remained detained without charge or trial under the Internal Security Act (ISA), amid concerns that some were at risk of torture and other ill-treatment during questioning. Foreign domestic workers continued to be excluded from legislation protecting the rights of foreign workers. Singapore rejected the UN General Assembly resolution calling for a moratorium on executions. At least five prisoners faced imminent execution, although the number of actual executions was unknown.
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Unemployed Asians over 112 million
Inquirer.net, 30 May 2009, Kristine L. Alave
MANILA, Philippines--With the global recession deepening at an unprecedented pace, the International Labor Organization has predicted that the number of unemployed in Asia will grow between 9 million and 26 million this year.
This means that the number of jobless workers in the region could top 112.2 million, the ILO said.
The United Nations agency said the number of unemployed worldwide is expected to hit over 230 million as the crisis continues to hit many developing economies and recovery seems to be far off.
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MANILA, Philippines--With the global recession deepening at an unprecedented pace, the International Labor Organization has predicted that the number of unemployed in Asia will grow between 9 million and 26 million this year.
This means that the number of jobless workers in the region could top 112.2 million, the ILO said.
The United Nations agency said the number of unemployed worldwide is expected to hit over 230 million as the crisis continues to hit many developing economies and recovery seems to be far off.
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Spore latest social trend - "Made-to-order playmaids"
The Star Online, 30 May 2009, Seah Chiang Nee
No contract, no marriage, no legal complications. The woman just moves in as part-time mistress and home minder.
What the middle-age lady wanted was to be introduced to a Singaporean man who was a widower or a divorcee of any age, who could do with a live-in companion.
For S$300 a month, she would move in with him as a part-time mistress and home minder.
In return she would earn extra money to add to her salary selling beer, as well as free board and lodging that she would otherwise have to spend on herself.
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No contract, no marriage, no legal complications. The woman just moves in as part-time mistress and home minder.
What the middle-age lady wanted was to be introduced to a Singaporean man who was a widower or a divorcee of any age, who could do with a live-in companion.
For S$300 a month, she would move in with him as a part-time mistress and home minder.
In return she would earn extra money to add to her salary selling beer, as well as free board and lodging that she would otherwise have to spend on herself.
Read More
Poll - 40% of Singaporeans will move from private to public sector employment
Free Press Release Center, 26 May 2009
May 26, 2009 (FPRC) -- In an online web poll, professional candidates from 17 different countries were asked whether they would consider moving from private to public sector employment. Of 2,785 respondents, nearly two thirds (66%) said they would be more than happy to take on a role in the public sector.
Candidates from Australia (78%), Luxembourg (78%), Ireland (73%) and New Zealand (70%) were most enthusiastic about making the change. In Thailand (36%), Spain (36%) and Malaysia (24%), a large proportion of candidates said that they would not consider working in the public sector . In comparison less than half of candidates in Singapore (40%) said that they would only take on a role in the public sector if there was no other option.
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May 26, 2009 (FPRC) -- In an online web poll, professional candidates from 17 different countries were asked whether they would consider moving from private to public sector employment. Of 2,785 respondents, nearly two thirds (66%) said they would be more than happy to take on a role in the public sector.
Candidates from Australia (78%), Luxembourg (78%), Ireland (73%) and New Zealand (70%) were most enthusiastic about making the change. In Thailand (36%), Spain (36%) and Malaysia (24%), a large proportion of candidates said that they would not consider working in the public sector . In comparison less than half of candidates in Singapore (40%) said that they would only take on a role in the public sector if there was no other option.
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Changes for better or worse?
The Kent Ridge Common, 30 May 2009, Kelvin Teo
SINGAPORE - PM Lee Hsien Loong announced a series of changes, which would have significant bearing on our political landscape. The first is a decrease in size of the Group Representation Constituencies (GRC) and an increase in the number of Single Member Constituencies (SMC) to at least 12. The second development is the amendment of the Parliamentary Elections Act, which will see 9 Non-constituency Member of Parliaments (NCMP) from the opposition taking up seats in the parliament.
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SINGAPORE - PM Lee Hsien Loong announced a series of changes, which would have significant bearing on our political landscape. The first is a decrease in size of the Group Representation Constituencies (GRC) and an increase in the number of Single Member Constituencies (SMC) to at least 12. The second development is the amendment of the Parliamentary Elections Act, which will see 9 Non-constituency Member of Parliaments (NCMP) from the opposition taking up seats in the parliament.
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SINGAPORE TRACES PASSENGERS TRAVELLING WITH H1N1 PATIENTS
Malaysia.news.yahoo.com, 30 May 2009, Bernama
SINGAPORE, May 29 (Bernama) – The Singapore health authority has so far identified 122 passengers who were on the same flights with the republic’s latest three H1N1 flu confirmed cases arriving on three separate flights from the United States earlier this week.
Of the identified passengers, however, only 61 of them entered the city state and so far the health authority managed to contact 18 of them and served them the home-quarantined order, the Health Ministry said today.
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SINGAPORE, May 29 (Bernama) – The Singapore health authority has so far identified 122 passengers who were on the same flights with the republic’s latest three H1N1 flu confirmed cases arriving on three separate flights from the United States earlier this week.
Of the identified passengers, however, only 61 of them entered the city state and so far the health authority managed to contact 18 of them and served them the home-quarantined order, the Health Ministry said today.
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Singapore's Economy Begins to Stir
BusinessWeek, 28 May 2009, Bruce Einhorn
Singapore - Here's what passes for good news in Singapore these days: Gross domestic product contracted at an annualized rate of 14.6% in the first quarter. How could that be considered positive? In last year's fourth quarter, the economy shrank at a rate of 16.4%, and many economists thought the first quarter's plunge might approach 20%.
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Singapore - Here's what passes for good news in Singapore these days: Gross domestic product contracted at an annualized rate of 14.6% in the first quarter. How could that be considered positive? In last year's fourth quarter, the economy shrank at a rate of 16.4%, and many economists thought the first quarter's plunge might approach 20%.
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Pirates Rob Singapore Boat Off Mersing, Johor
Bernama.com 29 May 2009
SINGAPORE, May 29 (Bernama) -- Armed pirates raided and robbed a Singapore-registered tug boat near Pulau Aur off Mersing coast in Johor early Thursday.
The Regional Cooperation Agreement on Combating Piracy and Armed Robbery against ships in Asia (ReCAAP) said here today the tug boat 'Topniche 5' was towing a Singapore-registered barge 'Chrisniche 4' when it was set upon at 2 am.
Read More
Related News:
Pirates rob Singapore boat off Mersing - The Star Online
SINGAPORE, May 29 (Bernama) -- Armed pirates raided and robbed a Singapore-registered tug boat near Pulau Aur off Mersing coast in Johor early Thursday.
The Regional Cooperation Agreement on Combating Piracy and Armed Robbery against ships in Asia (ReCAAP) said here today the tug boat 'Topniche 5' was towing a Singapore-registered barge 'Chrisniche 4' when it was set upon at 2 am.
Read More
Related News:
Pirates rob Singapore boat off Mersing - The Star Online
Report by Business Times denied by Chartered
Topnews. in, 30 May 2009, Sumeet Kak
he recent report by Business Times about Chartered Semiconductor Manufacturing Ltd., the world’s third-largest contract chipmaker, receiving a bid from Abu Dhabi’s Advanced Technology Investment Co, has been denied by the company.
The company said that it has not received any such bid from ATIC, while adding that Chartered engages various parties in discussions to pursue business opportunities or concerning the strategic direction of the company from time to time.
Read More
Related News:
Chartered says no Abu Dhabi bid tabled - Gulfnews.com
Chartered denies Abu Dhabi bid report - Taipei Times
Chartered Semi: We Didn't Get an Offer From Abu Dhabi's ATIC - PC World
he recent report by Business Times about Chartered Semiconductor Manufacturing Ltd., the world’s third-largest contract chipmaker, receiving a bid from Abu Dhabi’s Advanced Technology Investment Co, has been denied by the company.
The company said that it has not received any such bid from ATIC, while adding that Chartered engages various parties in discussions to pursue business opportunities or concerning the strategic direction of the company from time to time.
Read More
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Chartered says no Abu Dhabi bid tabled - Gulfnews.com
Chartered denies Abu Dhabi bid report - Taipei Times
Chartered Semi: We Didn't Get an Offer From Abu Dhabi's ATIC - PC World
GMR Infra buys out Singapore electric utlity
Reuters India, 29 May 2009, Aniruddha Basu
MUMBAI, May 29 (Reuters) - GMR Infrastructure Ltd (GMRI.BO: Quote, Profile, Research) said the GMR Group agreed to buy out a Singapore-based private electric utlity, Island Power, which is developing an 800-megawatt power plant in the island-state.
Read More
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GMR Infra acquires 100% ownership of Island Power Project - Indiainfoline.com
Singapore-based power utility acquired by GMR Infra - Stock Watch
MUMBAI, May 29 (Reuters) - GMR Infrastructure Ltd (GMRI.BO: Quote, Profile, Research) said the GMR Group agreed to buy out a Singapore-based private electric utlity, Island Power, which is developing an 800-megawatt power plant in the island-state.
Read More
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GMR Infra acquires 100% ownership of Island Power Project - Indiainfoline.com
Singapore-based power utility acquired by GMR Infra - Stock Watch
East Asians Hardest Hit in World Crisis - MM Lee
Forbes.com, Lee Kuan Yew
China, India, Japan, South Korea and the majority of Southeast Asian countries depend on exports to the U.S. to lift their economies. After the drop-off in U.S. imports they suffered sharp economic declines. Singapore's external (import/export) trade is 360% of its GDP, the highest in the world; Hong Kong is second, with trade making up 350% of GDP. Premier Wen Jiabao has promised that Beijing will help Hong Kong if necessary.
Malaysia, despite its oil and gas revenues, has had to use budget stimuli in order to stave off negative growth. Asia's exports to the U.S. in the first quarter of 2009 declined by almost 30% year-on-year.
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China, India, Japan, South Korea and the majority of Southeast Asian countries depend on exports to the U.S. to lift their economies. After the drop-off in U.S. imports they suffered sharp economic declines. Singapore's external (import/export) trade is 360% of its GDP, the highest in the world; Hong Kong is second, with trade making up 350% of GDP. Premier Wen Jiabao has promised that Beijing will help Hong Kong if necessary.
Malaysia, despite its oil and gas revenues, has had to use budget stimuli in order to stave off negative growth. Asia's exports to the U.S. in the first quarter of 2009 declined by almost 30% year-on-year.
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SIA A380 Airbus Experience Engine Failure
The Aviation Herald, 28 May 2009, Simon Hradecky
A Singapore Airlines Airbus A380-800, registration 9V-SKA performing flight SQ-318 from Singapore (Singapore) to London Heathrow,EN (UK), arrived at London's Heathrow Airport on just three engines with the fourth (Trent 970) shut down and with a delay of about one hour. The airplane landed safely.
The return flight SQ-321 had to be postponed to the next day and was performed by the incident airplane with a delay of 18 hours.
News Link
A Singapore Airlines Airbus A380-800, registration 9V-SKA performing flight SQ-318 from Singapore (Singapore) to London Heathrow,EN (UK), arrived at London's Heathrow Airport on just three engines with the fourth (Trent 970) shut down and with a delay of about one hour. The airplane landed safely.
The return flight SQ-321 had to be postponed to the next day and was performed by the incident airplane with a delay of 18 hours.
News Link
Abu Dhabi bids for control of Chartered Semi
Reuters, 29 May 2009, Saeed Azhar and Harry Suhartono
SINGAPORE, May 29 (Reuters) - Abu Dhabi's Advance Technology Investment Co (ATIC) has bid for Temasek's majority stake in Chartered Semiconductor (CSMF.SI), valuing the Singapore microchip maker at $1.7 billion, the Business Times reported on Friday.
The potential bid would be the Abu Dhabi state-owned venture capital firm's second big investment in the technology sector since March when it agreed to pay $2.1 billion for 55.6 percent of a joint venture with Advanced Micro Devices Inc (AMD.N).
Read More
Related News:
Chartered Attracts Takeover Bid, Business Times Says - Bloomberg.com
Reports: Singapore's Chartered Semiconductor attracts takeover bid - RTTNews
Chartered Denies Report It Received Abu Dhabi Bid - Bloomberg.com
Singapore's Chartered Semi says no bid from ATIC - Reuters
Chartered Semi: Have Not Received Bid For Co At This Time - The Wall Street Journal
Abu Dhabi's ATIC bids for Chartered Semi stake - Forbes.com
Chartered Semi: We Didn't Get an Offer From Abu Dhabi's ATIC - PC World
SINGAPORE, May 29 (Reuters) - Abu Dhabi's Advance Technology Investment Co (ATIC) has bid for Temasek's majority stake in Chartered Semiconductor (CSMF.SI), valuing the Singapore microchip maker at $1.7 billion, the Business Times reported on Friday.
The potential bid would be the Abu Dhabi state-owned venture capital firm's second big investment in the technology sector since March when it agreed to pay $2.1 billion for 55.6 percent of a joint venture with Advanced Micro Devices Inc (AMD.N).
Read More
Related News:
Chartered Attracts Takeover Bid, Business Times Says - Bloomberg.com
Reports: Singapore's Chartered Semiconductor attracts takeover bid - RTTNews
Chartered Denies Report It Received Abu Dhabi Bid - Bloomberg.com
Singapore's Chartered Semi says no bid from ATIC - Reuters
Chartered Semi: Have Not Received Bid For Co At This Time - The Wall Street Journal
Abu Dhabi's ATIC bids for Chartered Semi stake - Forbes.com
Chartered Semi: We Didn't Get an Offer From Abu Dhabi's ATIC - PC World
Singapore M1 Money Supply Apr S$84.58 Billion Vs S$85.17 Billion March
Nasdaq, 28 May 2009, Dow Jones
SINGAPORE -(Dow Jones)- The Monetary Authority of Singapore Friday released the following provisional money supply data for April 2009.
SINGAPORE -(Dow Jones)- The Monetary Authority of Singapore Friday released the following provisional money supply data for April 2009.
April '09 Year Earlier March '09Read More
M1 S$ 84.58 Bln S$ 71.58 Bln S$ 85.17 Bln
M2 S$349.24 Bln S$318.32 Bln S$349.27 Bln
M3 S$357.72 Bln S$327.65 Bln S$357.89 Bln
Singapore asks Australia to open air routes
Australia Network News, 29 May 2009, Karen Percy
Singapore Prime Minister Lee Hsien Loong will press Australian leader Kevin Rudd to let Singapore Airlines have greater access to key Australian-based air routes.
Mr Lee wants Singapore Airlines to be able to fly to the United States from Australia's Melbourne and Sydney.
But so far the airline has not been granted permission.
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Singapore Prime Minister Lee Hsien Loong will press Australian leader Kevin Rudd to let Singapore Airlines have greater access to key Australian-based air routes.
Mr Lee wants Singapore Airlines to be able to fly to the United States from Australia's Melbourne and Sydney.
But so far the airline has not been granted permission.
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Singapore confirms 3 more cases of A(H1N1)
GMANews.TV, 29 May 2009
SINGAPORE — Singapore's health ministry has confirmed that three more people have contracted swine flu, a day after announcing the country's first case.
The ministry said in a statement late Thursday that two local residents and an American visitor tested positive for swine flu after arriving on flights from the United States.
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SINGAPORE — Singapore's health ministry has confirmed that three more people have contracted swine flu, a day after announcing the country's first case.
The ministry said in a statement late Thursday that two local residents and an American visitor tested positive for swine flu after arriving on flights from the United States.
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Kent Ridge Common interviews NMP Siew Kum Hong
The Kent Ridge Common, 29 May 2009
Kum Hong: I think it’s important to first define the purpose of JCS. It was originally positioned as being a scheme to save jobs - but in the course of the Budget debate, it was clarified as being intended to reduce business costs, but structured in such a way as to encourage businesses to save Singaporean jobs.
To the extent that it reduced business costs, of course JCS has worked. And to answer the PAP MPs, yes JCS is preferable to cutting the employers’ CPF contribution rate for the purpose of reducing business costs, but that is a very narrow way of framing the question (i.e. solely in terms of reducing business costs).
But if you want to assess its effectiveness in saving Singaporean jobs, then it is impossible to definitively conclude either way, and the Government itself had basically said so as much. We can only guesstimate. While feedback from employers has been uniformly positive, I would nevertheless take that with some salt since they have a very strong self-interest in seeing the scheme continue (since it is essentially “free money” for them).
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Kum Hong: I think it’s important to first define the purpose of JCS. It was originally positioned as being a scheme to save jobs - but in the course of the Budget debate, it was clarified as being intended to reduce business costs, but structured in such a way as to encourage businesses to save Singaporean jobs.
To the extent that it reduced business costs, of course JCS has worked. And to answer the PAP MPs, yes JCS is preferable to cutting the employers’ CPF contribution rate for the purpose of reducing business costs, but that is a very narrow way of framing the question (i.e. solely in terms of reducing business costs).
But if you want to assess its effectiveness in saving Singaporean jobs, then it is impossible to definitively conclude either way, and the Government itself had basically said so as much. We can only guesstimate. While feedback from employers has been uniformly positive, I would nevertheless take that with some salt since they have a very strong self-interest in seeing the scheme continue (since it is essentially “free money” for them).
Read More
Foreign worker enclaves mushroom in Singapore
AFP, Philip Lim
SINGAPORE, Singapore (AFP) — More than 20 percent of Singapore's 4.8 million residents are foreigners, many from less-developed Asian countries, and it shows. On weekends and holidays, malls teeming with foreign workers add an extra dimension to Singapore's claim of being a multi-racial state.
Singaporeans are a minority in the foreign enclaves, highlighting a social divide between guest workers and locals that experts say is unbreachable.
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Related News:
Foreign worker enclaves mushroom in Singapore - Dawn.com
SINGAPORE, Singapore (AFP) — More than 20 percent of Singapore's 4.8 million residents are foreigners, many from less-developed Asian countries, and it shows. On weekends and holidays, malls teeming with foreign workers add an extra dimension to Singapore's claim of being a multi-racial state.
Singaporeans are a minority in the foreign enclaves, highlighting a social divide between guest workers and locals that experts say is unbreachable.
Read More
Related News:
Foreign worker enclaves mushroom in Singapore - Dawn.com
Singapore to amend laws to get off 'grey' list of tax havens
Earth Times, 28 May 2009, DPA
Singapore - The Singapore government said Thursday that it would amend its laws in the coming months to get off an international "grey" list of tax havens compiled by the Organization for Economic Cooperation and Development (OECD). Singapore has been listed as a state committed to the international OECD standard on sharing information on taxes but not yet substantially implementing it.
"We are working on the draft legislative amendments," Second Finance Minister Lim Hwee Hua told Parliament.
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Singapore - The Singapore government said Thursday that it would amend its laws in the coming months to get off an international "grey" list of tax havens compiled by the Organization for Economic Cooperation and Development (OECD). Singapore has been listed as a state committed to the international OECD standard on sharing information on taxes but not yet substantially implementing it.
"We are working on the draft legislative amendments," Second Finance Minister Lim Hwee Hua told Parliament.
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Singapore's Finance Minister Gives Details of Temasek's Losses
The Wall Street Journal, 28 May 2009, SE YOUNG LEE and COSTAS PARIS
SINGAPORE -- Singapore's state-owned investment company Temasek Holdings Pte. Ltd. lost 58 billion Singapore dollars (US$39.91 billion) from the end of March 2008 to November 2008, or a little over than half of its portfolio value gains from the previous five years, the city state's finance minister said.
Tharman Shanmugaratnam, speaking in parliament, said Temasek's investment portfolio grew by S$114 billion during the market cycle from 2003 to 2007.
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SINGAPORE -- Singapore's state-owned investment company Temasek Holdings Pte. Ltd. lost 58 billion Singapore dollars (US$39.91 billion) from the end of March 2008 to November 2008, or a little over than half of its portfolio value gains from the previous five years, the city state's finance minister said.
Tharman Shanmugaratnam, speaking in parliament, said Temasek's investment portfolio grew by S$114 billion during the market cycle from 2003 to 2007.
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Singapore Defends Temasek’s Performance as Portfolio Shrinks
Bloomberg.com, 28 May 2009, Netty Ismail
May 28 (Bloomberg) -- Singapore’s government defended the performance of Temasek Holdings Pte, whose portfolio shrank by S$58 billion ($40 billion) after the state-owned investment company increased bets on financial assets over the past year.
The value of Temasek’s assets fell 31 percent to S$127 billion in the eight months to Nov. 30 as the credit crisis drove down the value of stakes in Merrill Lynch & Co., Barclays Plc and Standard Chartered Plc. The MSCI World Index fell 38 percent in the same period.
Read More
Related News:
Singapore defends Temasek's Bank of America sale - BusinessWeek
Temasek Will Stick to Policy Of Long-Haul Investments - The Jakarta Globe
Singapore defends Temasek's Bank of America sale - BusinessDay
May 28 (Bloomberg) -- Singapore’s government defended the performance of Temasek Holdings Pte, whose portfolio shrank by S$58 billion ($40 billion) after the state-owned investment company increased bets on financial assets over the past year.
The value of Temasek’s assets fell 31 percent to S$127 billion in the eight months to Nov. 30 as the credit crisis drove down the value of stakes in Merrill Lynch & Co., Barclays Plc and Standard Chartered Plc. The MSCI World Index fell 38 percent in the same period.
Read More
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Singapore defends Temasek's Bank of America sale - BusinessWeek
Temasek Will Stick to Policy Of Long-Haul Investments - The Jakarta Globe
Singapore defends Temasek's Bank of America sale - BusinessDay
Christian couple convicted for anti-Muslim booklets
AFP
SINGAPORE (AFP) — A Christian Singaporean couple were found guilty of sedition on Thursday for distributing evangelical publications that cast Islam in a negative light, court officials said.
Ong Kian Cheong and his wife Dorothy Chan had been charged with distributing a seditious publication to two Muslims in October and March 2007 and sending a second such booklet to another Muslim in December that same year, a district court official told AFP.
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SINGAPORE (AFP) — A Christian Singaporean couple were found guilty of sedition on Thursday for distributing evangelical publications that cast Islam in a negative light, court officials said.
Ong Kian Cheong and his wife Dorothy Chan had been charged with distributing a seditious publication to two Muslims in October and March 2007 and sending a second such booklet to another Muslim in December that same year, a district court official told AFP.
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Singapore scientists develop approach to identify A/H1N1 virus
Xinhua, 28 May 2009
SINGAPORE, May 28 (Xinhua) -- Singapore scientists have developed a rapid approach to uncover the complete sequence of any influenza A virus and its mutations and resistance to drugs, Singapore's Agency for Science, Technology and Research (A*STAR) said on Thursday.
According to a statement of the A*STAR, the scientists at the Genome Institute of Singapore use a "generic" polymerase chain reaction (PCR) and NimbleGen's unique microarray-based platform to amplify full genomes of influenza A viruses and sequence them within a day.
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SINGAPORE, May 28 (Xinhua) -- Singapore scientists have developed a rapid approach to uncover the complete sequence of any influenza A virus and its mutations and resistance to drugs, Singapore's Agency for Science, Technology and Research (A*STAR) said on Thursday.
According to a statement of the A*STAR, the scientists at the Genome Institute of Singapore use a "generic" polymerase chain reaction (PCR) and NimbleGen's unique microarray-based platform to amplify full genomes of influenza A viruses and sequence them within a day.
Read More
Malaysia's Firefly to launch flights to Singapore
Forbes.com, 28 May 2009, Associated Press
Firefly, the budget wing of Malaysia Airlines, said Thursday it will launch flights from several Malaysian cities to Singapore starting in July as part of its regional expansion.
Firefly will be the fourth no-frills carrier to fly the lucrative route from the Malaysian city of Kuala Lumpur to Singapore, adding competition to rivals AirAsia, Jetstar and Tiger Airways in a market hit by the global economic slump.
Read More
Related News:
Firefly To Operate More Routes To Singapore - Bernama.com
Firefly, the budget wing of Malaysia Airlines, said Thursday it will launch flights from several Malaysian cities to Singapore starting in July as part of its regional expansion.
Firefly will be the fourth no-frills carrier to fly the lucrative route from the Malaysian city of Kuala Lumpur to Singapore, adding competition to rivals AirAsia, Jetstar and Tiger Airways in a market hit by the global economic slump.
Read More
Related News:
Firefly To Operate More Routes To Singapore - Bernama.com
Forum on building liveable cities convenes in Singapore
Xinhua, 28 May 2009
SINGAPORE, May 28 (Xinhua) -- Building and sustaining healthy and liveable cities goes beyond improving the physical infrastructure, it also has much to do with creating a quality living environment, said communication and environment experts here on Thursday.
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SINGAPORE, May 28 (Xinhua) -- Building and sustaining healthy and liveable cities goes beyond improving the physical infrastructure, it also has much to do with creating a quality living environment, said communication and environment experts here on Thursday.
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Middle East travellers ready to spend big at Great Singapore Sale
AME Info, 28 May 2009
A surge of travellers from the Middle East are expected to visit Asia's shopping capital this summer to take part in the Great Singapore Sale (GSS), which runs from 29 May to 26 July 2009.
'Shopping is a favorite hobby for Middle East travellers, making The Great Singapore Sale a sure firehit and a fantastic reason to visit Asia's shopping capital.
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A surge of travellers from the Middle East are expected to visit Asia's shopping capital this summer to take part in the Great Singapore Sale (GSS), which runs from 29 May to 26 July 2009.
'Shopping is a favorite hobby for Middle East travellers, making The Great Singapore Sale a sure firehit and a fantastic reason to visit Asia's shopping capital.
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Asean Expulsion Will Not Change Myanmar, says Singapore Govt
Nasdaq, AFP
SINGAPORE (AFP)--Expelling Myanmar from Asean isn't the way to bring about reform in the military-ruled nation even if it tarnishes the group's credibility, the Singapore government said Thursday.
The Association of Southeast Asian Nations will have greater influence on Myanmar by maintaining dialogue instead of isolating it or imposing sanctions, said Zainul Abidin Rasheed, senior minister of state at the foreign ministry.
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SINGAPORE (AFP)--Expelling Myanmar from Asean isn't the way to bring about reform in the military-ruled nation even if it tarnishes the group's credibility, the Singapore government said Thursday.
The Association of Southeast Asian Nations will have greater influence on Myanmar by maintaining dialogue instead of isolating it or imposing sanctions, said Zainul Abidin Rasheed, senior minister of state at the foreign ministry.
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Temasek made net gain of US$39 bln since 2003, says Tharman
Reuters India, 28 May 2009, Kevin Lim and Nopporn Wong-Anan
Singapore sovereign wealth fund Temasek will remain a long-term investor despite its early exit from Bank of America (BAC.N: Quote, Profile, Research) and the fund made S$56 billion ($38.5 billion) in the six years since March 2003, Finance Minister Tharman Shanmugaratnam said on Thursday.
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Singapore sovereign wealth fund Temasek will remain a long-term investor despite its early exit from Bank of America (BAC.N: Quote, Profile, Research) and the fund made S$56 billion ($38.5 billion) in the six years since March 2003, Finance Minister Tharman Shanmugaratnam said on Thursday.
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Why MP Indranee Rajah needs a class in elementary logic
The Kent Ridge Common, 28 May 2009, Christopher Ong
"Indeed, under critical circumspection. Ms. Rajah’s attempt to rebut Low Thia Khiang by suggesting ‘logical outcomes’ that would follow if we adopt his reasoning fails miserably. An average student in an elementary logic class can show as we have did that the ‘logical outcomes’ that Ms. Rajah has proposed DO NOT follow from Low Thia Khiang’s arguments.
Perhaps the greatest irony here is that her ‘logical outcomes’ would fall under the very same labels she attaches to Low’s argument?"
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"Indeed, under critical circumspection. Ms. Rajah’s attempt to rebut Low Thia Khiang by suggesting ‘logical outcomes’ that would follow if we adopt his reasoning fails miserably. An average student in an elementary logic class can show as we have did that the ‘logical outcomes’ that Ms. Rajah has proposed DO NOT follow from Low Thia Khiang’s arguments.
Perhaps the greatest irony here is that her ‘logical outcomes’ would fall under the very same labels she attaches to Low’s argument?"
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Singapore backs Thai statement on Suu Kyi
The Nation, 28 May 2009
Singapore on Wednesday supported Asean Chairman's statement issued by Thailand on detention and trail of Burma's opposition leader Aung San Suu Kyi.
The Singaporean Foreign Ministry issued a press statement after a meeting of Asean foreign minister meeting in Phnom Penh saying the city state, along with many other Asean members, fully associated with the Thai statement.
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Singapore on Wednesday supported Asean Chairman's statement issued by Thailand on detention and trail of Burma's opposition leader Aung San Suu Kyi.
The Singaporean Foreign Ministry issued a press statement after a meeting of Asean foreign minister meeting in Phnom Penh saying the city state, along with many other Asean members, fully associated with the Thai statement.
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SIA Rolls Dice With Flight Centre
Travel Trends, 28 May 2009, Martin Kelly
Smart or dumb? Opinion is split on Singapore Airlines’ (SQ) decision to abandon Flight Centre, Australia’s largest travel agency group, as a distribution channel.
Flight Centre, which has more than 600 local outlets, put a “stop sell” on SQ after the airline reportedly refused to pay overrides of up to 3% on its base 5% commission.
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Smart or dumb? Opinion is split on Singapore Airlines’ (SQ) decision to abandon Flight Centre, Australia’s largest travel agency group, as a distribution channel.
Flight Centre, which has more than 600 local outlets, put a “stop sell” on SQ after the airline reportedly refused to pay overrides of up to 3% on its base 5% commission.
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Minister advises Changi Airport to build more partnerships with airlines
e-Travel Blackboard, 28 May 2009
Singapore’s Minister for Transport urged Changi Airport earlier this week to build closer relationships with airlines in order to overcome current economic challenges.
Raymond Lim, Minister for Transport and Second Minister for Foreign Affairs was speaking at the 4th annual Changi Airline Awards held by the Civil Aviation Authority of Singapore (CAAS).
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Singapore’s Minister for Transport urged Changi Airport earlier this week to build closer relationships with airlines in order to overcome current economic challenges.
Raymond Lim, Minister for Transport and Second Minister for Foreign Affairs was speaking at the 4th annual Changi Airline Awards held by the Civil Aviation Authority of Singapore (CAAS).
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Hulking Cargo Ships Sit Idle Off Singapore
Koreatimes.com, 27 May 2009, KEITH BRADSHER
SINGAPORE - To go out in a small boat along Singapore’s coast now is to feel like a mouse tiptoeing through an endless herd of slumbering elephants.
One of the largest fleets of ships ever gathered idles here just outside one of the world’s busiest ports, marooned by the receding tide of global trade. There may be tentative signs of economic recovery in spots around the globe, but few here.
Hundreds of cargo ships - some up to 270,000 metric tons, with many weighing more than the entire 130-ship Spanish Armada - seem to perch on top of the water rather than in it, their red rudders and bulbous noses, submerged when the vessels are loaded, sticking several meters out of the water.
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SINGAPORE - To go out in a small boat along Singapore’s coast now is to feel like a mouse tiptoeing through an endless herd of slumbering elephants.
One of the largest fleets of ships ever gathered idles here just outside one of the world’s busiest ports, marooned by the receding tide of global trade. There may be tentative signs of economic recovery in spots around the globe, but few here.
Hundreds of cargo ships - some up to 270,000 metric tons, with many weighing more than the entire 130-ship Spanish Armada - seem to perch on top of the water rather than in it, their red rudders and bulbous noses, submerged when the vessels are loaded, sticking several meters out of the water.
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SIA forced to reaffirm to current commission levels
e-Travel Blackboard, 28 May 2009
Singapore Airlines has been forced to reaffirm that they are committed to their commission levels, after rumours plagued the industry with the fallout surrounding their standoff with Flight Centre.
Singapore Airlines has strongly rejected claims that it is moving to reduce its base commission rate of 5% on published fares, and says that it is committed to working with travel agents.
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Singapore Airlines has been forced to reaffirm that they are committed to their commission levels, after rumours plagued the industry with the fallout surrounding their standoff with Flight Centre.
Singapore Airlines has strongly rejected claims that it is moving to reduce its base commission rate of 5% on published fares, and says that it is committed to working with travel agents.
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Singapore's Contact Center Apps Market Grew 24 Percent Last Year: Report
TMCnet.com, 27 May 2009, Calvin Azuri
A study by Frost & Sullivan has revealed that the contact center applications market in Singapore grew a robust 23.8 percent to $20.2 million in 2008 despite the economic recession.
Frost’s Industry Manager, Shivanu Shukla, said the growth involved replacement deals rather than Greenfield installations, which are few and far between. The report says that the Singapore contact center applications market is expected to grow by only around 4.7 percent until 2015, to $27.9 million. As a developed market, analysts expect more growth in advanced application areas like speech technology and multimedia systems.
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A study by Frost & Sullivan has revealed that the contact center applications market in Singapore grew a robust 23.8 percent to $20.2 million in 2008 despite the economic recession.
Frost’s Industry Manager, Shivanu Shukla, said the growth involved replacement deals rather than Greenfield installations, which are few and far between. The report says that the Singapore contact center applications market is expected to grow by only around 4.7 percent until 2015, to $27.9 million. As a developed market, analysts expect more growth in advanced application areas like speech technology and multimedia systems.
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Singapore Post acquired 30% stake in Postea
Businesswire.com, 27 May 2009
Postea Inc. announces that Singapore Post will license Postea’s suite of hardware and software technology. Postea develops and operates companies which provide technology and support to the postal, courier and logistics markets. Subsidiaries include Proiam LLC and Innovations Group Inc. (IGI). Innovations Group’s Retail Network and Franchise Management program is currently in deployment by the United States Postal Service.
In addition to the licensing agreement, Singapore Post has also made a strategic investment to acquire a 30 percent stake in Postea. This investment will support research and development and product development efforts currently underway within Proiam.
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Postea Inc. announces that Singapore Post will license Postea’s suite of hardware and software technology. Postea develops and operates companies which provide technology and support to the postal, courier and logistics markets. Subsidiaries include Proiam LLC and Innovations Group Inc. (IGI). Innovations Group’s Retail Network and Franchise Management program is currently in deployment by the United States Postal Service.
In addition to the licensing agreement, Singapore Post has also made a strategic investment to acquire a 30 percent stake in Postea. This investment will support research and development and product development efforts currently underway within Proiam.
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Singapore's Business Events Sector Forges Ahead
e-Travel Blackboard, 28 May 2009
Undeterred by the global economic downturn, Singapore continues to attract a robust pipeline of business events, attesting to its stature as a premier business events destination in Asia and the world.
One area which the Singapore Exhibition and Convention Bureau (SECB), a group of the Singapore Tourism Board (STB), is actively bidding for is conferences and these efforts are bearing fruit.
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Undeterred by the global economic downturn, Singapore continues to attract a robust pipeline of business events, attesting to its stature as a premier business events destination in Asia and the world.
One area which the Singapore Exhibition and Convention Bureau (SECB), a group of the Singapore Tourism Board (STB), is actively bidding for is conferences and these efforts are bearing fruit.
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Singapore PM kills "Temasek II" idea to help local firms
Reuters India, 27 May 2009, Nopporn Wong-Anan
SINGAPORE, May 27 (Reuters) - The Singapore government will help nurture local companies compete in international markets, but will not force its sovereign wealth fund Temasek to finance them as suggested by some legislators, Prime Minister Lee Hsien Loong told parliament on Wednesday. "Government wants to help companies grow, is trying many ways and is willing to do more," Lee said. "But we don't believe that this can be done by the government by simply pouring money, or creating a 'Temasek II,' he said.
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SINGAPORE, May 27 (Reuters) - The Singapore government will help nurture local companies compete in international markets, but will not force its sovereign wealth fund Temasek to finance them as suggested by some legislators, Prime Minister Lee Hsien Loong told parliament on Wednesday. "Government wants to help companies grow, is trying many ways and is willing to do more," Lee said. "But we don't believe that this can be done by the government by simply pouring money, or creating a 'Temasek II,' he said.
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Singapore to let more opposition MPs in parliament
Forbes.com, 27 May 2009, Reuters
SINGAPORE, May 27 (Reuters) - Singapore plans to amend laws to bring more political opposition to its parliament, enough to create some dynamism but not to destablise the long-serving dominant party.
Prime Minister Lee Hsien Loong told parliament its membership in the future will have at least nine opposition members and nine 'nominated' or appointed members, for a total of 18 members who are not from the ruling party.
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SINGAPORE, May 27 (Reuters) - Singapore plans to amend laws to bring more political opposition to its parliament, enough to create some dynamism but not to destablise the long-serving dominant party.
Prime Minister Lee Hsien Loong told parliament its membership in the future will have at least nine opposition members and nine 'nominated' or appointed members, for a total of 18 members who are not from the ruling party.
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Malaysia detains Singapore militant for two years
AFP
KUALA LUMPUR (AFP) — Singaporean militant Mas Selamat bin Kastari, who was captured in Malaysia last month, has been detained under security laws for a two-year term, the prime minister said Wednesday.
Prime Minister Najib Razak confirmed reports that the 48-year-old Islamic militant had been detained under Malaysia's Internal Security Act (ISA) which allows for indefinite detention without trial.
"This is Malaysia's decision. He is a threat to Malaysia's security, that is why he has been detained. Obviously he's a threat to Singapore and Malaysia," he told a press conference.
Read More
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KUALA LUMPUR (AFP) — Singaporean militant Mas Selamat bin Kastari, who was captured in Malaysia last month, has been detained under security laws for a two-year term, the prime minister said Wednesday.
Prime Minister Najib Razak confirmed reports that the 48-year-old Islamic militant had been detained under Malaysia's Internal Security Act (ISA) which allows for indefinite detention without trial.
"This is Malaysia's decision. He is a threat to Malaysia's security, that is why he has been detained. Obviously he's a threat to Singapore and Malaysia," he told a press conference.
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Singapore hotel revenue plunges 40 pct in April
Forbes.com, 27 May 2009, The Associated Press
Singapore's hotel revenue plummeted 40 percent in April as owners slashed room rates amid the global drop-off in travel.
Revenue fell to 110 million Singapore dollars ($76 million) from SG$184 million a year earlier and SG$122 million in March, the Singapore Tourism Board said Wednesday.
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Singapore hotel revenue plunges 40 percent in April - The China Post
Singapore's hotel revenue plummeted 40 percent in April as owners slashed room rates amid the global drop-off in travel.
Revenue fell to 110 million Singapore dollars ($76 million) from SG$184 million a year earlier and SG$122 million in March, the Singapore Tourism Board said Wednesday.
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Singapore hotel revenue plunges 40 percent in April - The China Post
Lim family sell Genting Singapore stake as confidence waned
FinanceAsia.com, 27 May 2009, Anette Jönsson
Two investment companies controlled by Malaysia's Lim family were in the market last night attempting to divest their direct 9% stake in Genting Singapore, a Singapore-listed subsidiary of the Genting Berhad group. Genting Singapore is involved in international casino operations and the development of integrated resorts, including a new casino resort on Singapore's Sentosa Island, which is due to open in the first quarter of next year.
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Two investment companies controlled by Malaysia's Lim family were in the market last night attempting to divest their direct 9% stake in Genting Singapore, a Singapore-listed subsidiary of the Genting Berhad group. Genting Singapore is involved in international casino operations and the development of integrated resorts, including a new casino resort on Singapore's Sentosa Island, which is due to open in the first quarter of next year.
Read More
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Singapore casinos target high-rollers, may hurt Macau
The Malaysian Insider, 27 May 2009, Reuters
SINGAPORE, May 27 — Singapore's two upcoming casinos may draw some business from neighbouring Malaysia's Genting Highlands but the city-state's focus on high-rollers will likely have a greater impact on Macau and Australia.
When up and running next year, Sheldon Adelson's Marina Bay Sands and the Malaysian Genting group's Resorts World at Sentosa will pay an effective tax of around 12 per cent on net revenue from high-rollers — compared with 39 per cent for Macau — giving operators more incentive to draw such people to the city-state.
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SINGAPORE, May 27 — Singapore's two upcoming casinos may draw some business from neighbouring Malaysia's Genting Highlands but the city-state's focus on high-rollers will likely have a greater impact on Macau and Australia.
When up and running next year, Sheldon Adelson's Marina Bay Sands and the Malaysian Genting group's Resorts World at Sentosa will pay an effective tax of around 12 per cent on net revenue from high-rollers — compared with 39 per cent for Macau — giving operators more incentive to draw such people to the city-state.
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Singapore NOL's container arm to raise freight rates
Reuters, 27 May 1009, Harry Suhartono
SINGAPORE, May 27 (Reuters) - Neptune Orient Lines (NOL) (NEPS.SI), the world's seventh largest shipping company, said its container arm APL is planning to raise freight rates on Asia-Europe trade routes starting next month.
APL said it will raise its eastbound Europe to Asia leg by $100 per container for scrap commodities such as paper, while the westbound Asia to Europe trade lane will see a rise of $300 per twenty-foot container for all freight to the Mediterranean and North Europe.
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SINGAPORE, May 27 (Reuters) - Neptune Orient Lines (NOL) (NEPS.SI), the world's seventh largest shipping company, said its container arm APL is planning to raise freight rates on Asia-Europe trade routes starting next month.
APL said it will raise its eastbound Europe to Asia leg by $100 per container for scrap commodities such as paper, while the westbound Asia to Europe trade lane will see a rise of $300 per twenty-foot container for all freight to the Mediterranean and North Europe.
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Court allows Imelda Marcos to go to Singapore for eye treatment
GMANews.TV, 27 May 2009
MANILA, Philippines - Former First Lady Imelda Marcos has been allowed by the Philippine anti-graft court to fly to Singapore for an eye operation.
The Sandiganbayan Fifth Division gave the wife of the late Philippine strongman Ferdinand Marcos 10 days for her medical treatment.
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MANILA, Philippines - Former First Lady Imelda Marcos has been allowed by the Philippine anti-graft court to fly to Singapore for an eye operation.
The Sandiganbayan Fifth Division gave the wife of the late Philippine strongman Ferdinand Marcos 10 days for her medical treatment.
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Dhubai International Airport outpaced Changi Airport in arrivals
Centre for Asia Pacific Aviation, 27 May 2009
Dubai International Airport (DIA) is the only one of the world's top ten airports to report positive growth in both 4Q2008 and 1Q2009, though growth rates have slowed dramatically. Dubai Airports reported a 2% year-on-year increase in passenger numbers in 1Q2009 to just over 9.5 million passengers. Despite the slowdown, DIA's throughput in 1Q09 outpaced rival Singapore Changi International Airport for the fourth time over the last eight quarters.
News Link
Dubai International Airport (DIA) is the only one of the world's top ten airports to report positive growth in both 4Q2008 and 1Q2009, though growth rates have slowed dramatically. Dubai Airports reported a 2% year-on-year increase in passenger numbers in 1Q2009 to just over 9.5 million passengers. Despite the slowdown, DIA's throughput in 1Q09 outpaced rival Singapore Changi International Airport for the fourth time over the last eight quarters.
News Link
Beijing flexes its muscles with PetroChina in Singapore
Financial Post, 26 May 2009
SINGAPORE -- PetroChina's US$2.2-billion bid to buy half a refinery in Singapore may look like yet another China deal for energy security, but really it says far more about Beijing's desire to flex its pricing muscle on world markets.
With its landmark deal to buy Singapore Petroleum Company (SPC), which owns a 30 year-old, 285,000 barrel per day (bpd) refinery, PetroChina adds the final piece of its trading arsenal: a major source of fuel supply in the trading hub where most of Asia's oil prices are determined.
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SINGAPORE -- PetroChina's US$2.2-billion bid to buy half a refinery in Singapore may look like yet another China deal for energy security, but really it says far more about Beijing's desire to flex its pricing muscle on world markets.
With its landmark deal to buy Singapore Petroleum Company (SPC), which owns a 30 year-old, 285,000 barrel per day (bpd) refinery, PetroChina adds the final piece of its trading arsenal: a major source of fuel supply in the trading hub where most of Asia's oil prices are determined.
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Marina Bay Sands to boost Singapore's C&I drive
Citmagazine.com, 27 May 2009, Yasmin Arrigo
The opening of the Marina Bay Sands , planned for the end of 2009, is set to boost Singapore’s C&I traffic from the UK.
Singapore Tourism Board area director for Northern and Western Europe Divya Panickar commented: Marina Bay Sands is ideal for the meetings and events market and is one of a number of unique propositions that are currently being developed.
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The opening of the Marina Bay Sands , planned for the end of 2009, is set to boost Singapore’s C&I traffic from the UK.
Singapore Tourism Board area director for Northern and Western Europe Divya Panickar commented: Marina Bay Sands is ideal for the meetings and events market and is one of a number of unique propositions that are currently being developed.
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Singapore has first H1N1 flu case; woman quarantined
Reuters, 26 May 2009
SINGAPORE, May 27 (Reuters) - The Singapore government on Wednesday confirmed the city-state's first H1N1 flu case, a 22-year-old Singaporean woman who is being quarantined in hospital and is the latest of nearly 13,000 cases worldwide. The government has been warning Singaporeans for weeks to prepare for an inevitable H1N1 outbreak in the city-state, a regional financial and trading centre and the world's busiest port.
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SINGAPORE, May 27 (Reuters) - The Singapore government on Wednesday confirmed the city-state's first H1N1 flu case, a 22-year-old Singaporean woman who is being quarantined in hospital and is the latest of nearly 13,000 cases worldwide. The government has been warning Singaporeans for weeks to prepare for an inevitable H1N1 outbreak in the city-state, a regional financial and trading centre and the world's busiest port.
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Singapore cancer patient held at US airport for missing fingerprint
Reuters, 26 May 2009, Tan Ee Lyn
HONG KONG, May 27 (Reuters) - A Singapore cancer patient was held for four hours by immigration officials in the United States when they could not detect his fingerprints -- which had apparently disappeared because of a drug he was taking.
The incident, highlighted in the Annals of Oncology, was reported by the patient's doctor, Tan Eng Huat, who advised cancer patients taking this drug to carry a doctor's letter when travelling to the United States.
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Medical report: Cancer patient loses fingerprints - The Associated Press
HONG KONG, May 27 (Reuters) - A Singapore cancer patient was held for four hours by immigration officials in the United States when they could not detect his fingerprints -- which had apparently disappeared because of a drug he was taking.
The incident, highlighted in the Annals of Oncology, was reported by the patient's doctor, Tan Eng Huat, who advised cancer patients taking this drug to carry a doctor's letter when travelling to the United States.
Read More
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Goodyear’s tenure at Temasek starts with full in-tray
Financial Times, 26 May 2009
The most highly anticipated corporate event of the year in Singapore will occur on October 1 when the leadership of state investment agency Temasek Holdings passes to Chip Goodyear, the former chief executive of BHP Billiton.
Speculation is rife about what changes Mr Goodyear will make, from whether there will be a management reshuffle to possible moves to make the Singapore state investment company more open and transparent.
But the challenges that face Mr Goodyear were underscored this week when several members of Singapore’s parliament from the ruling party took the unusual step of criticising Temasek in a floor debate over the investment agency’s recent decision to sell its 3 per cent stake in Bank of America at an estimated loss of between $2.3bn and $4.6bn.
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The most highly anticipated corporate event of the year in Singapore will occur on October 1 when the leadership of state investment agency Temasek Holdings passes to Chip Goodyear, the former chief executive of BHP Billiton.
Speculation is rife about what changes Mr Goodyear will make, from whether there will be a management reshuffle to possible moves to make the Singapore state investment company more open and transparent.
But the challenges that face Mr Goodyear were underscored this week when several members of Singapore’s parliament from the ruling party took the unusual step of criticising Temasek in a floor debate over the investment agency’s recent decision to sell its 3 per cent stake in Bank of America at an estimated loss of between $2.3bn and $4.6bn.
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MAS consults on proposal to hold mandatory AGMs for REITS
The Asian Banker, 27 May 2009
The Monetary Authority of Singapore (MAS) has released a consultation paper on a proposal to amend the Property Fund Guidelines to mandate that REITs hold Annual General Meetings (AGMs).
The proposed amended guidelines will apply to all REITs which are regulated as Collective Investment Schemes (CIS) in Singapore. Under the proposal, REITs will be required to hold AGMs once every calendar year and not more than 15 months from the last preceding AGM, with effect from 1 January 2010. This means all REITs will have held an AGM by 31 Dec 2010.
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The Monetary Authority of Singapore (MAS) has released a consultation paper on a proposal to amend the Property Fund Guidelines to mandate that REITs hold Annual General Meetings (AGMs).
The proposed amended guidelines will apply to all REITs which are regulated as Collective Investment Schemes (CIS) in Singapore. Under the proposal, REITs will be required to hold AGMs once every calendar year and not more than 15 months from the last preceding AGM, with effect from 1 January 2010. This means all REITs will have held an AGM by 31 Dec 2010.
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Suzhou Industrial Park celebrates 15th anniversary
CCTV.com, 27 May 2009
SUZHOU, May 26 (Xinhua) -- China and Singapore celebrated the 15th anniversary Tuesday of their largest cooperative project, the Suzhou Industrial Park, in east China's Jiangsu Province.
Chinese Vice Premier Wang Qishan attended the commemoration together with Singaporean Minister Mentor Lee Kuan Yew and Deputy Prime Minister Wong Kan Seng.
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SUZHOU, May 26 (Xinhua) -- China and Singapore celebrated the 15th anniversary Tuesday of their largest cooperative project, the Suzhou Industrial Park, in east China's Jiangsu Province.
Chinese Vice Premier Wang Qishan attended the commemoration together with Singaporean Minister Mentor Lee Kuan Yew and Deputy Prime Minister Wong Kan Seng.
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Sex Education Programs in Singapore's Schools Should Provide Teens With Objective, Reliable Information
Kaisernetwork.org, 26 May 2009
The number of teenagers contracting HIV and other sexually transmitted infections has increased over the past several years, Singapore's Education Minister Ng Eng Hen said on Thursday, the Straits Times reports. In 2008, 787 STIs were recorded among teenagers, a more than threefold increase from the 238 cases in 2002. In addition, nine new HIV cases were reported among teenagers in 2007, compared with one in 2002. According to Ng, the figures highlight the need for sex education programs.
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The number of teenagers contracting HIV and other sexually transmitted infections has increased over the past several years, Singapore's Education Minister Ng Eng Hen said on Thursday, the Straits Times reports. In 2008, 787 STIs were recorded among teenagers, a more than threefold increase from the 238 cases in 2002. In addition, nine new HIV cases were reported among teenagers in 2007, compared with one in 2002. According to Ng, the figures highlight the need for sex education programs.
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Wendy's signs Singapore development deal
Reuters, 26 May 2009, Lisa Baertlein
LOS ANGELES, May 26 (Reuters) - Wendy's/Arby's Group Inc (WEN.N) on Tuesday said it signed a development agreement with Kopitiam Investment Pte Ltd to build and operate Wendy's restaurants in Singapore.
Kopitiam Group is scheduled to open the first of the restaurants in late 2009, and build more than 35 Wendy's outlets throughout the country over the next 10 years.
Read More
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LOS ANGELES, May 26 (Reuters) - Wendy's/Arby's Group Inc (WEN.N) on Tuesday said it signed a development agreement with Kopitiam Investment Pte Ltd to build and operate Wendy's restaurants in Singapore.
Kopitiam Group is scheduled to open the first of the restaurants in late 2009, and build more than 35 Wendy's outlets throughout the country over the next 10 years.
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Temasek seeks a review on monopoly case in Indonesia
The Jakarta Post, 26 May 2009
Temasek holdings Pte, the Singapore-based investment giant, has restarted its legal battle over allegations it had breached the country's antimonopoly laws by registering a case review with the Supreme Court while insisting its innocence.
Late last year, the Supreme Court in principle upheld a decision by a lower court which ruled that Temasek was guilty of violating the antimonopoly law through its cross-ownership in the country's two largest cell phone firms - PT Telkomsel and PT Indosat, as alleged by the Business Competition Supervisory Agency (KPPU).
The cross ownership, according to the KPPU, could have led to prices fixing.
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Temasek holdings Pte, the Singapore-based investment giant, has restarted its legal battle over allegations it had breached the country's antimonopoly laws by registering a case review with the Supreme Court while insisting its innocence.
Late last year, the Supreme Court in principle upheld a decision by a lower court which ruled that Temasek was guilty of violating the antimonopoly law through its cross-ownership in the country's two largest cell phone firms - PT Telkomsel and PT Indosat, as alleged by the Business Competition Supervisory Agency (KPPU).
The cross ownership, according to the KPPU, could have led to prices fixing.
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Singaporean scientists conduct world's first remote X-ray scattering experiment
Physorg.com, 26 May 2009
On 26th May, Nanyang Technological University's School of Biological Science (SBS) will pioneer the world's first remotely controlled Solution X-Ray Scattering (SAXS) experiment. The experiment will be initiated from Singapore at 4.10pm - 6pm in SBS and conducted at the German Electron Synchrotron, Hamburg, Germany.
This event will mark a milestone in how traditional SAXS experiments are conducted by allowing scientists to control and conduct their research without being actually present at the facility where the synchrotron is located.
Read More
Related News:
Nanyang Technological University conducts world's first remote x-ray scattering experiment - nanowerk
On 26th May, Nanyang Technological University's School of Biological Science (SBS) will pioneer the world's first remotely controlled Solution X-Ray Scattering (SAXS) experiment. The experiment will be initiated from Singapore at 4.10pm - 6pm in SBS and conducted at the German Electron Synchrotron, Hamburg, Germany.
This event will mark a milestone in how traditional SAXS experiments are conducted by allowing scientists to control and conduct their research without being actually present at the facility where the synchrotron is located.
Read More
Related News:
Nanyang Technological University conducts world's first remote x-ray scattering experiment - nanowerk
NCDEX inks pact with Singapore bourse
Business Standard, 26 May 2009, Press Trust of India
Domestic commodity exchange NCDEX and Singapore Commodity Exchange have signed an agreement for trading each others' products but the pact is subjected to regulatory approval from both the countries.
The exchanges will designate new products in response to market demand and jointly market and promote these designated products, an NCDEX statement said.
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Domestic commodity exchange NCDEX and Singapore Commodity Exchange have signed an agreement for trading each others' products but the pact is subjected to regulatory approval from both the countries.
The exchanges will designate new products in response to market demand and jointly market and promote these designated products, an NCDEX statement said.
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Mahathir: Don't "Singaporize" Johor
Asia Sentinel, 26 May 2009, Ben Bland
Recently-installed Malaysian prime minister Najib Tun Razak last week threw his full weight behind the ambitious Iskandar development project on a visit to Singapore designed to drum up new investment.
But his call for Singaporeans to reap the economic benefits on offer in the Johor-based development zone, which is situated just over the causeway from the Lion City, could further damage relations with his one-time mentor, former prime minister Mahathir Mohamad, if for no other reason than that it was launched by his ill-starred successor and the man Mahathir learned to hate, former Prime Minister Abdullah Ahmad Badawi.
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Recently-installed Malaysian prime minister Najib Tun Razak last week threw his full weight behind the ambitious Iskandar development project on a visit to Singapore designed to drum up new investment.
But his call for Singaporeans to reap the economic benefits on offer in the Johor-based development zone, which is situated just over the causeway from the Lion City, could further damage relations with his one-time mentor, former prime minister Mahathir Mohamad, if for no other reason than that it was launched by his ill-starred successor and the man Mahathir learned to hate, former Prime Minister Abdullah Ahmad Badawi.
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Singapore manufacturing drops 0.5 percent in April
Forbes.com, 26 May 2009, Associated Press
Singapore's manufacturing recorded its smallest drop for seven months in April as production from the volatile pharmaceutical sector soared, offsetting another plunge in electronics.
Industrial production fell 0.5 percent from a year earlier and rose a seasonally adjusted 25 percent from March, the Trade and Industry Ministry said Tuesday.
Read More
Related News:
Singapore Manufacturing Output Grows In April - RTTNews
Singapore’s Production Decline Lessens as Export Slump Eases - Bloomberg.com
Singapore Manufacturing Decline Slows in April - The Jakarta Globe
Fall in Singapore industrial output slows in April - AFP
Singapore manufacturing drops 0.5 percent in April - BusinessWeek
Singapore's manufacturing recorded its smallest drop for seven months in April as production from the volatile pharmaceutical sector soared, offsetting another plunge in electronics.
Industrial production fell 0.5 percent from a year earlier and rose a seasonally adjusted 25 percent from March, the Trade and Industry Ministry said Tuesday.
Read More
Related News:
Singapore Manufacturing Output Grows In April - RTTNews
Singapore’s Production Decline Lessens as Export Slump Eases - Bloomberg.com
Singapore Manufacturing Decline Slows in April - The Jakarta Globe
Fall in Singapore industrial output slows in April - AFP
Singapore manufacturing drops 0.5 percent in April - BusinessWeek
SingTel’s stake in Bharti may drop to 19.4%
IndiaInfoline, 26 May 2009
Singapore Telecommunications Ltd. may have its stake in Bharti Airtel Ltd. reduced to 19.4% from about 30.5%, according to Citigroup's research report. Bharti yesterday said it had resumed talks to buy 49% of South Africa’s MTN Group Ltd., the first step in a potential US$23bn merger.
SingTel’s holding in Bharti, its biggest overseas contributor to profit, will probably shrink to 19.4% if Bharti completes plans to combine with MTN Group Ltd., Citigroup’s report stated. SingTel currently owns 30.4%.
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Singapore Telecommunications Ltd. may have its stake in Bharti Airtel Ltd. reduced to 19.4% from about 30.5%, according to Citigroup's research report. Bharti yesterday said it had resumed talks to buy 49% of South Africa’s MTN Group Ltd., the first step in a potential US$23bn merger.
SingTel’s holding in Bharti, its biggest overseas contributor to profit, will probably shrink to 19.4% if Bharti completes plans to combine with MTN Group Ltd., Citigroup’s report stated. SingTel currently owns 30.4%.
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Singapore to host the 15th World Conference on Tobacco or Health in 2012
Webnewswire.com, 26 May 2009
The next World Conference on Tobacco or Health (WCTOH) - the 15th conference - will be held in Singapore for the first time, in 2012. The expected number of delegates for the conference in 2012 is estimated to be between 2,000 to 3,000 persons.
The Health Promotion Board of Singapore will spearhead the organization of WCTOH 2012, to be held at the Suntec Singapore International Convention and Exhibition Centre.
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The next World Conference on Tobacco or Health (WCTOH) - the 15th conference - will be held in Singapore for the first time, in 2012. The expected number of delegates for the conference in 2012 is estimated to be between 2,000 to 3,000 persons.
The Health Promotion Board of Singapore will spearhead the organization of WCTOH 2012, to be held at the Suntec Singapore International Convention and Exhibition Centre.
Read More
Kunming, Singapore could have rail link by 2011
GoKunming, 26 May 2009
Engineers from China and Australia are preparing to commence work on the last remaining stretch of track of the east trunk line of the Trans-Asian Railway, which will link Kunming and Singapore via Vietnam, Cambodia, Thailand and Malaysia, according to a Voice of America report.
The missing link in this rail line is Cambodia, which needs to upgrade hundreds of kilometers of colonial-era lines plus build a new east line to Vietnam in order to connect stations in China and Vietnam with Thailand, Malaysia and Singapore.
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Engineers from China and Australia are preparing to commence work on the last remaining stretch of track of the east trunk line of the Trans-Asian Railway, which will link Kunming and Singapore via Vietnam, Cambodia, Thailand and Malaysia, according to a Voice of America report.
The missing link in this rail line is Cambodia, which needs to upgrade hundreds of kilometers of colonial-era lines plus build a new east line to Vietnam in order to connect stations in China and Vietnam with Thailand, Malaysia and Singapore.
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Rise in Qatari visitors to Singapore
MENAFN.com, 26 May 2009, The Peninsula
(MENAFN - The Peninsula) Singapore has received a five-percent increase of visitors from the Gulf region, specifically in Qatar, in the first quarter of this year, an official from the Singapore Tourism Board (STB) said. Jason Ong, STB area director for Middle East and Africa, said last year, they had a 16-percent growth of tourists from the Gulf region, around 114,000, and seven percent of those visitors were from Qatar, which is around 7,000.
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(MENAFN - The Peninsula) Singapore has received a five-percent increase of visitors from the Gulf region, specifically in Qatar, in the first quarter of this year, an official from the Singapore Tourism Board (STB) said. Jason Ong, STB area director for Middle East and Africa, said last year, they had a 16-percent growth of tourists from the Gulf region, around 114,000, and seven percent of those visitors were from Qatar, which is around 7,000.
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Singapore uses new media to boost recruitment
futureGov, 26 May 2009, Crystal Low
Singapore’s Ministry of Home Affairs (MHA) has seen recruitment numbers for its police, civil defence and prison functions rise significantly this year, thanks in part to MHA’s use of new media platforms such as Facebook and YouTube to appeal to young Singaporean job-seekers.
More than 400 junior officers and 70 senior officers have been recruited by the ‘Home Team’ so far this year - a more than twofold increase on the same period in 2008. However, with a target of 1,500 officers for the whole year, Second Minister of Home Affairs K Shanmugam said that the Ministry has “some way to go” to achieve its recruitment goals.
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Singapore’s Ministry of Home Affairs (MHA) has seen recruitment numbers for its police, civil defence and prison functions rise significantly this year, thanks in part to MHA’s use of new media platforms such as Facebook and YouTube to appeal to young Singaporean job-seekers.
More than 400 junior officers and 70 senior officers have been recruited by the ‘Home Team’ so far this year - a more than twofold increase on the same period in 2008. However, with a target of 1,500 officers for the whole year, Second Minister of Home Affairs K Shanmugam said that the Ministry has “some way to go” to achieve its recruitment goals.
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Fullerton may need more help from Temasek
Business Standard, 26 May 2009
Fullerton India Credit Company (FICC), the non-banking finance subsidiary of Singapore-based Temaesk, may need additional assistance from its government-owned parent to withstand weak business conditions and risks of high credit losses, a rating agency said here on Monday.
In its statement, Fitch Ratings said FICC extends mostly unsecured loans, which comprises over 80 per cent of its lending, to its clients. Borrowers predominantly belong to the lower-middle or the middle income segments, a large part of which is self-employed.
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Fullerton India Credit Company (FICC), the non-banking finance subsidiary of Singapore-based Temaesk, may need additional assistance from its government-owned parent to withstand weak business conditions and risks of high credit losses, a rating agency said here on Monday.
In its statement, Fitch Ratings said FICC extends mostly unsecured loans, which comprises over 80 per cent of its lending, to its clients. Borrowers predominantly belong to the lower-middle or the middle income segments, a large part of which is self-employed.
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Optus wins battle over access to Telstra network
News.com.au, 26 May 2009
TELSTRA Corporation has failed in a bid to exempt rival Optus from accessing its copper network in areas where Optus has its own cable network.
The Australian Competition Tribunal has knocked back Telstra's application for a review of a decision made by the tribunal in November to refuse Optus' exemption from access rights.
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TELSTRA Corporation has failed in a bid to exempt rival Optus from accessing its copper network in areas where Optus has its own cable network.
The Australian Competition Tribunal has knocked back Telstra's application for a review of a decision made by the tribunal in November to refuse Optus' exemption from access rights.
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Singapore warms to economic zone proposal
Financial Times, 26 May 2009, John Burton
Malaysia appears to have won support from Singapore for its plan to build a huge economic zone near the city-state that could foster closer economic co-operation between the two countries after years of bitter rivalry, writes John Burton in Singapore .
The Iskandar Malaysia project in southern Johor state has been at the centre of recent bilateral talks, including a meeting last week between the countries' leaders in Singapore.
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Malaysia appears to have won support from Singapore for its plan to build a huge economic zone near the city-state that could foster closer economic co-operation between the two countries after years of bitter rivalry, writes John Burton in Singapore .
The Iskandar Malaysia project in southern Johor state has been at the centre of recent bilateral talks, including a meeting last week between the countries' leaders in Singapore.
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Hong Kong and Singapore Most Vulnerable to Global Slump, Nomura Says
Bloomberg.com, 25 May 2009, Shelley Smith
May 25 (Bloomberg) -- Hong Kong and Singapore are among six economies in Asia that are most exposed to the global recession and will take time to recover, possibly spurring “substantial” job cuts in the countries, according to Nomura International Ltd.
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May 25 (Bloomberg) -- Hong Kong and Singapore are among six economies in Asia that are most exposed to the global recession and will take time to recover, possibly spurring “substantial” job cuts in the countries, according to Nomura International Ltd.
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Neptune Orient Lines cargo volume dipped 22%
Monsters and Critics, 25 May 2009
Singapore - Singapore's Neptune Orient Lines (NOL), one of the biggest container shippers worldwide, Monday said its cargo volume for the four weeks to May 1 had slipped by 22 per cent compared to the same period a year ago.
From April 4 to May 1, NOL moved 157,800 40-foot equivalent units (FEU), down from 203,000 FEU in the same period of 2008, the company said in a statement.
Read More
Related News:
Shipper NOL moves 22 pct less cargo in 4 wks to May 1 - Reuters
Singapore - Singapore's Neptune Orient Lines (NOL), one of the biggest container shippers worldwide, Monday said its cargo volume for the four weeks to May 1 had slipped by 22 per cent compared to the same period a year ago.
From April 4 to May 1, NOL moved 157,800 40-foot equivalent units (FEU), down from 203,000 FEU in the same period of 2008, the company said in a statement.
Read More
Related News:
Shipper NOL moves 22 pct less cargo in 4 wks to May 1 - Reuters
SIA says reduced business travel and flu epidemic set back for sustained recovery
MICEBTN, 25 May 2009
After a dismal financial performance in 2008/09, Singapore Airlines (SIA) says advance passenger bookings indicate that the drop in demand for air travel is levelling out.
However, the probability of sustained recovery has been set back by uncertainties arising from the influenza A epidemic.
Read More
After a dismal financial performance in 2008/09, Singapore Airlines (SIA) says advance passenger bookings indicate that the drop in demand for air travel is levelling out.
However, the probability of sustained recovery has been set back by uncertainties arising from the influenza A epidemic.
Read More
Singapore vs Israel : A study of contrasts
Littlespeck.com, 24 May 2009, subbaiyer.wordpress.com
"I have heard the argument of Singapore being “small” ad nauseam. Singapore uses that as a convenient excuse whenever there’s a short coming or if they have to justify any hard measure to contain order.
They also use it to explain away many of the things where they have come short.
But, if you turn around and ask them how Singapore achieved some wonderful things in specific areas despite its small size, the discussion has veered off into a different direction."
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"I have heard the argument of Singapore being “small” ad nauseam. Singapore uses that as a convenient excuse whenever there’s a short coming or if they have to justify any hard measure to contain order.
They also use it to explain away many of the things where they have come short.
But, if you turn around and ask them how Singapore achieved some wonderful things in specific areas despite its small size, the discussion has veered off into a different direction."
Read More
Tweaking electoral rules: The paradox of contesting GRCs the SMC way
The Kent Ridge Common, 25 May 2009, Kelvin Teo
SINGAPORE - The Group Representation Constituency (GRC) system was long suspected to be a platform to allow the People’s Action Party (PAP) to blood new promising candidates. This has been confirmed by Senior Minister Goh Chok Tong who mentioned in an interview that the GRC provides an assurance of a victory to new candidates and entry into parliament during their initial foray into politics. Miss Sylvia Lim, a non-constituency Member of Parliament (NCMP) raised criticisms of the GRC system and suggested that our electoral contest should return to the one that took place prior to 1988 when candidates vied for Single Member Constituency (SMC) seats.
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SINGAPORE - The Group Representation Constituency (GRC) system was long suspected to be a platform to allow the People’s Action Party (PAP) to blood new promising candidates. This has been confirmed by Senior Minister Goh Chok Tong who mentioned in an interview that the GRC provides an assurance of a victory to new candidates and entry into parliament during their initial foray into politics. Miss Sylvia Lim, a non-constituency Member of Parliament (NCMP) raised criticisms of the GRC system and suggested that our electoral contest should return to the one that took place prior to 1988 when candidates vied for Single Member Constituency (SMC) seats.
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Temasek raises it's Standard Chartered stake to 19.11%
The Wall Street Journal, 24 May 2009
HONG KONG (Dow Jones)--Singapore state-owned investment company Temasek Holding Pte. Ltd.'s stake in Standard Chartered PLC (STAN.LN) grew to 19.11% from 18.81% after receiving a stock dividend, the U.K. lender said Monday.
Temasek now holds 369.5 million shares in Standard Chartered, the bank said in a statement.
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HONG KONG (Dow Jones)--Singapore state-owned investment company Temasek Holding Pte. Ltd.'s stake in Standard Chartered PLC (STAN.LN) grew to 19.11% from 18.81% after receiving a stock dividend, the U.K. lender said Monday.
Temasek now holds 369.5 million shares in Standard Chartered, the bank said in a statement.
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Batam see rise in luxury car smugglings from Singapore
Jakarta Post, 25 May 2009
The 2003 government regulation on value-added and luxury taxes was powerful enough to stop the smuggling of used, luxury cars from Singapore to Batam as it also bans such imports.
However, smuggling activities have recently been on the rise again especially since Batam was designated as a Free Trade Zone (FTZ) area together with the neighboring Bintan and Karimun Islands.
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The 2003 government regulation on value-added and luxury taxes was powerful enough to stop the smuggling of used, luxury cars from Singapore to Batam as it also bans such imports.
However, smuggling activities have recently been on the rise again especially since Batam was designated as a Free Trade Zone (FTZ) area together with the neighboring Bintan and Karimun Islands.
Read More
Singapoeans spend less in dining out amid downturn: survey
Xinhua, 25 May 2009
SINGAPORE, May 25 (Xinhua) -- A survey showed that Singaporeans are opting for home cooked meals instead of dining out in the backdrop of the economic downturn, local media reported on Monday.
According to local radio 938live, the survey by the Nielsen Company said that local consumers are spending more on fresh food, groceries and household items. The average monthly household expenditure has increased by 14 percent compared to last year, in part driven by higher food prices and increased home cooking in a bid to cut down on dining out expenses.
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SINGAPORE, May 25 (Xinhua) -- A survey showed that Singaporeans are opting for home cooked meals instead of dining out in the backdrop of the economic downturn, local media reported on Monday.
According to local radio 938live, the survey by the Nielsen Company said that local consumers are spending more on fresh food, groceries and household items. The average monthly household expenditure has increased by 14 percent compared to last year, in part driven by higher food prices and increased home cooking in a bid to cut down on dining out expenses.
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Singapore’s April Consumer Prices Post First Decline Since 2005
Bloomberg.com, 25 May 2009, Shamim Adam
May 25 (Bloomberg) -- Singapore’s consumer prices fell for the first time since June 2005 last month as transport and housing costs dropped amid the deepest recession in the nation’s 44-year history.
The consumer price index declined 0.7 percent from a year earlier, after gaining 1.6 percent the previous month, the Department of Statistics said in a statement today. That compares with the median forecast for a 0.6 percent gain in a Bloomberg News survey of 11 economists. Prices declined 1.1 percent from March, without adjusting for seasonal factors.
Read More
Related News:
Singapore Consumer Prices Fall For First Time Since June 2005 - RTTNews
Singapore prices fall 0.7 percent in April - MSN Money
Singapore prices fall 0.7 percent in April - Forbes.com
Singapore sees biggest price fall ever in April - Forbes.com
May 25 (Bloomberg) -- Singapore’s consumer prices fell for the first time since June 2005 last month as transport and housing costs dropped amid the deepest recession in the nation’s 44-year history.
The consumer price index declined 0.7 percent from a year earlier, after gaining 1.6 percent the previous month, the Department of Statistics said in a statement today. That compares with the median forecast for a 0.6 percent gain in a Bloomberg News survey of 11 economists. Prices declined 1.1 percent from March, without adjusting for seasonal factors.
Read More
Related News:
Singapore Consumer Prices Fall For First Time Since June 2005 - RTTNews
Singapore prices fall 0.7 percent in April - MSN Money
Singapore prices fall 0.7 percent in April - Forbes.com
Singapore sees biggest price fall ever in April - Forbes.com
Singapore Airlines working on Zero Commission Issue with Indian Agents
Travel Biz Monitor, 25 May 2009, Anita Jain
In a recent development, a few days ago, Singapore Airlines had conducted a meeting with the Travel Agents Fraternity to sort out the on-going issue on zero commissions between the agents and the carrier. During this meet, Singapore Airlines along with it's low cost subsidiary Silk Air offered agents two per cent on the PLB (Productivity Linked Bonus) for a minimum business of INR 5,00,000. The Travel Agents Federation declined the proposal explaining that it hardly made any sense to their business prospects and asked the carrier to settle down for a three per cent commission on base fare.
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In a recent development, a few days ago, Singapore Airlines had conducted a meeting with the Travel Agents Fraternity to sort out the on-going issue on zero commissions between the agents and the carrier. During this meet, Singapore Airlines along with it's low cost subsidiary Silk Air offered agents two per cent on the PLB (Productivity Linked Bonus) for a minimum business of INR 5,00,000. The Travel Agents Federation declined the proposal explaining that it hardly made any sense to their business prospects and asked the carrier to settle down for a three per cent commission on base fare.
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Recession-hit Singaporeans pray for jobs, luck, recovery
Reuters, 24 May 2009, Nopporn Wong-Anan
SINGAPORE (Reuters) - With the Singapore government warning of a worsening economy, IT administrator Ismarini Ismail is praying the recession won't upset her wedding plans for December.
"I pray harder in times of economic downturn, although my job is not affected this time," the 25-year-old Singaporean told Reuters as Singapore's unemployment rose to the highest in over three years in the first quarter of 2009.
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SINGAPORE (Reuters) - With the Singapore government warning of a worsening economy, IT administrator Ismarini Ismail is praying the recession won't upset her wedding plans for December.
"I pray harder in times of economic downturn, although my job is not affected this time," the 25-year-old Singaporean told Reuters as Singapore's unemployment rose to the highest in over three years in the first quarter of 2009.
Read More
Singapore Airlines plans to make Doha as stopover destination
The Peninsula Online, 25 May 2009, Joyce C Abano
DOHA: Singapore Airlines said it has achieved a 12-percent growth in the past year from their Middle East flights to Singapore. The national carrier is also planning having Doha as a stopover destination.
“We have achieved good results for the first quarter of this year and last year. Last year, we had a 12-percent growth, considering it was the onset of the global financial crisis. We are currently exploring on having extension flights, or stopover flights from Singapore, to Doha, to another destination.
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DOHA: Singapore Airlines said it has achieved a 12-percent growth in the past year from their Middle East flights to Singapore. The national carrier is also planning having Doha as a stopover destination.
“We have achieved good results for the first quarter of this year and last year. Last year, we had a 12-percent growth, considering it was the onset of the global financial crisis. We are currently exploring on having extension flights, or stopover flights from Singapore, to Doha, to another destination.
Read More
Angry Flyers Lounge-Tiger turns on the charm offensive
Crikey, 25 May 2009, Ben Sandilands
At the risk of having to open a Happy Flyers corner, Tiger seemed to sever its ‘cultural’ links with Ryanair yesterday and today as one jet, and one sixth of its fleet, remained on the ground at the Gold Coast after a ‘technical’ problem.
The problem wrecked its timetable.
But this time it apparently rolled out alternatives for the stranded, full refunds, travel credit vouchers, an accommodation allowance for those suddenly up for another night in soggy paradise, or flights with other airlines at no extra charge if they couldn’t find room on other Tiger jets.
Read More
At the risk of having to open a Happy Flyers corner, Tiger seemed to sever its ‘cultural’ links with Ryanair yesterday and today as one jet, and one sixth of its fleet, remained on the ground at the Gold Coast after a ‘technical’ problem.
The problem wrecked its timetable.
But this time it apparently rolled out alternatives for the stranded, full refunds, travel credit vouchers, an accommodation allowance for those suddenly up for another night in soggy paradise, or flights with other airlines at no extra charge if they couldn’t find room on other Tiger jets.
Read More
Is it really a "Job Rich" recession for Singapore?
Morgan Stanley, 22 May 2009, Deyi Tan & Chetan Ahya
In this global recession, the labour market in Singapore seems to be showing a contrary trend. To be sure, the labour market is a lagging indicator. Employment growth in Singapore lags GDP growth by around two quarters. On the way up, corporates are usually slow to add to headcount, preferring to increase overtime hours for existing workers until the macro recovery firms. On the way down, human resource management simply cannot be as precise as just-in-time inventory management. The demand shock tends to be absorbed first by the profit cushion before the wage cost containment exercise starts.
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In this global recession, the labour market in Singapore seems to be showing a contrary trend. To be sure, the labour market is a lagging indicator. Employment growth in Singapore lags GDP growth by around two quarters. On the way up, corporates are usually slow to add to headcount, preferring to increase overtime hours for existing workers until the macro recovery firms. On the way down, human resource management simply cannot be as precise as just-in-time inventory management. The demand shock tends to be absorbed first by the profit cushion before the wage cost containment exercise starts.
Read More
Flight Centre 'grounds' Singapore Airlines
Couriermail.com.au, 25 May 2009, Geoff Easdown
FLIGHT Centre has launched a "turn the screw on SQ" campaign against Singapore Airlines and stopped selling the carrier's tickets from its 800 outlets.
The row between one of the world's biggest airlines and the Queensland-based travel giant turned nasty after the SIA refused to pay the agency a commission of more than 5 per cent on ticket sales.
Read More
Related News:
Flight Centre drop Singapore Airline tickets - News.com.au
FLIGHT Centre has launched a "turn the screw on SQ" campaign against Singapore Airlines and stopped selling the carrier's tickets from its 800 outlets.
The row between one of the world's biggest airlines and the Queensland-based travel giant turned nasty after the SIA refused to pay the agency a commission of more than 5 per cent on ticket sales.
Read More
Related News:
Flight Centre drop Singapore Airline tickets - News.com.au
Keppel To Sell Stake In SPC To PetroChina
Easybourse, 24 May 2009, Dow Jones
SYDNEY -(Dow Jones)- Keppel Corp. (KPELY) said Sunday it is selling its 45.51% stake in Singapore Petroleum Co. (S99.SG), or SPC, to PetroChina Co. (PTR) for S$1.47 billion.
The deal, involving wholly owned units of the two companies, is for a consideration of S$6.25 per share, Keppel said in a statement. It represents a 24% premium on Friday's closing share price of SPC.
Read More
Related News:
PetroChina buys Keppel stake in refiner SPC for $1 bln - Reuters
PetroChina to Acquire 45.51 pct Stake in Singapore Petroleum Company - english.cri.cn
PetroChina buys 45.5% stake in Singapore Petroleum - MarketWatch
PetroChina agrees on US$1b deal to buy Singapore stake - ShanghaiDaily.com
PetroChina seeks - Singapore stake - The Standard
PetroChina to Purchase Big Stake in Oil Refiner - The Wall Street Journal
PetroChina agrees $2.25 billion price tag for Singapore Petroleum - FinanceAsia.com
PetroChina buys 45.5 pct of Singapore Petroleum - BusinessWeek
PetroChina Purchase May Signal Global Expansion Plan - Bloomberg.com
PetroChina buys 45.5 pct of Singapore Petroleum - Forbes.com
PetroChina buys 45.5 pct of Singapore refiner - AFP
PetroChina buys $1.3bn stake in Singapore Petroleum, takeover next step - The Australian
PetroChina to acquire 45.51% stake in Singapore Petroleum Company - China Daily
PetroChina acquires 45.5% stake in Singapore Petroleum - Indiainfoline.com
PetroChina buys US$1 bln stake in SPC - CCTV.com
PetroChina to acquire 45% stake in Singapore Petroleum - China Knowledge Online
PetroChina acquires 45.5% Stake in Singapore Petroleum - RTTNews
PetroChina buys 45.5% stake in Singapore Petroleum - MENAFN.com
PetroChina May Pay $2.2 Billion for Singapore Refining Foothold - Bloomberg.com
SYDNEY -(Dow Jones)- Keppel Corp. (KPELY) said Sunday it is selling its 45.51% stake in Singapore Petroleum Co. (S99.SG), or SPC, to PetroChina Co. (PTR) for S$1.47 billion.
The deal, involving wholly owned units of the two companies, is for a consideration of S$6.25 per share, Keppel said in a statement. It represents a 24% premium on Friday's closing share price of SPC.
Read More
Related News:
PetroChina buys Keppel stake in refiner SPC for $1 bln - Reuters
PetroChina to Acquire 45.51 pct Stake in Singapore Petroleum Company - english.cri.cn
PetroChina buys 45.5% stake in Singapore Petroleum - MarketWatch
PetroChina agrees on US$1b deal to buy Singapore stake - ShanghaiDaily.com
PetroChina seeks - Singapore stake - The Standard
PetroChina to Purchase Big Stake in Oil Refiner - The Wall Street Journal
PetroChina agrees $2.25 billion price tag for Singapore Petroleum - FinanceAsia.com
PetroChina buys 45.5 pct of Singapore Petroleum - BusinessWeek
PetroChina Purchase May Signal Global Expansion Plan - Bloomberg.com
PetroChina buys 45.5 pct of Singapore Petroleum - Forbes.com
PetroChina buys 45.5 pct of Singapore refiner - AFP
PetroChina buys $1.3bn stake in Singapore Petroleum, takeover next step - The Australian
PetroChina to acquire 45.51% stake in Singapore Petroleum Company - China Daily
PetroChina acquires 45.5% stake in Singapore Petroleum - Indiainfoline.com
PetroChina buys US$1 bln stake in SPC - CCTV.com
PetroChina to acquire 45% stake in Singapore Petroleum - China Knowledge Online
PetroChina acquires 45.5% Stake in Singapore Petroleum - RTTNews
PetroChina buys 45.5% stake in Singapore Petroleum - MENAFN.com
PetroChina May Pay $2.2 Billion for Singapore Refining Foothold - Bloomberg.com
GIC's GPT investors to air concerns about it's unprofitable investments
The Age, 25 May 2009, Carolyn Cummins
GPT's annual meeting today is tipped to be feisty, amid suggestions the resolutions to re-elect directors could face stiff opposition from disgruntled investors.
It is believed larger institutional unit holders are yet to decide on their voting preferences as they feel the existing board should shoulder some of the responsibility for GPT's less-than-profitable investments.
Of the eight resolutions, two cover the re-election of Eric Goodwin, who is a long-standing director, and Lim Swe Guan, who represents substantial shareholder the Singapore Government Investment Corp.
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GPT's annual meeting today is tipped to be feisty, amid suggestions the resolutions to re-elect directors could face stiff opposition from disgruntled investors.
It is believed larger institutional unit holders are yet to decide on their voting preferences as they feel the existing board should shoulder some of the responsibility for GPT's less-than-profitable investments.
Of the eight resolutions, two cover the re-election of Eric Goodwin, who is a long-standing director, and Lim Swe Guan, who represents substantial shareholder the Singapore Government Investment Corp.
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Singapore Economy Facing Deep Recession
Mathaba.net, 24 May 2009
Singapore is suffering its deepest recession since independence in 1965 - and has gone from one of Asia`s leading economy to it`s most rapidly declining - verification of the collapse of capitalism which is now well under way and irriversable.
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Singapore is suffering its deepest recession since independence in 1965 - and has gone from one of Asia`s leading economy to it`s most rapidly declining - verification of the collapse of capitalism which is now well under way and irriversable.
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Singtel set to jump into volatile Pakistan telecom market
Daily Times, 24 May 2009
ISLAMABAD: Singapore Telecommunication is set to jump into Pakistan’s telecom market as talks with Abu Dhabi Group for sale out of more stakes of Waridtel are gearing up.
SingTel already owns 30 percent stakes in Warid Telecom and the agreement between Singapore Telecommunication Company, known as Singtel and Abu Dhabi Group is likely to happen before June 2009.
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ISLAMABAD: Singapore Telecommunication is set to jump into Pakistan’s telecom market as talks with Abu Dhabi Group for sale out of more stakes of Waridtel are gearing up.
SingTel already owns 30 percent stakes in Warid Telecom and the agreement between Singapore Telecommunication Company, known as Singtel and Abu Dhabi Group is likely to happen before June 2009.
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Sultan of Kelantan to get treatment in S'pore
The New Straits Times, 24 May 2009
KOTA BARU: The Sultan of Kelantan Sultan Ismail Petra Ibni Almarhum Sultan Yahya Petra is reported to be in stable condition following treatment for a heart ailment.
The sultan, who has been treated at Universiti Sains Malaysia Hospital (HUSM) in Kubang Kerian since May 14, would undergo further treatment at Mount Elizabeth Hospital in Singapore, HUSM director Dr Zaidun Kamari said in a statement yesterday
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KOTA BARU: The Sultan of Kelantan Sultan Ismail Petra Ibni Almarhum Sultan Yahya Petra is reported to be in stable condition following treatment for a heart ailment.
The sultan, who has been treated at Universiti Sains Malaysia Hospital (HUSM) in Kubang Kerian since May 14, would undergo further treatment at Mount Elizabeth Hospital in Singapore, HUSM director Dr Zaidun Kamari said in a statement yesterday
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Students of NUS High School impress M'sia PM's wife
The New Straits Times, 24 May 2009
SINGAPORE: The prime minister's wife, Datin Seri Rosmah Mansor, who visited the National University of Singapore (NUS) High School of Mathematics and Science on Friday, was impressed by the students' knowledge and ability in science and mathematics.
During the two-hour visit, Rosmah, who was accompanied by Ho Ching, the wife of Singapore Prime Minister Lee Hsien Loong, spent half the time at the science lab to observe the science projects and experiments conducted by the students.
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SINGAPORE: The prime minister's wife, Datin Seri Rosmah Mansor, who visited the National University of Singapore (NUS) High School of Mathematics and Science on Friday, was impressed by the students' knowledge and ability in science and mathematics.
During the two-hour visit, Rosmah, who was accompanied by Ho Ching, the wife of Singapore Prime Minister Lee Hsien Loong, spent half the time at the science lab to observe the science projects and experiments conducted by the students.
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Building bridges between Spore & M'sia, motives are questionable
Right2write.worldpress.com, 23 May 2009
1. Yesterday the Singapore PM and his Malaysian counter part, Najib announce that both government will start a study to evaluate the possibility of building a third bridge between Singapore and Johor. Personally, I question the motives and the need to build such a structure between two countries, more so when we have very weak relationship bridge with Singapore. The focus should be strengthening and improving the social and emotional bridge between the people of the two nations.
2. Firstly, we must accept that people does not live forever. Unfortunately, Lee Kuan Yew (LKY) may just break the laws of nature. Either in the physical form or his ideological form, LKY will continue dominate the way things are done in Singapore and their perception of their neighbours.
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1. Yesterday the Singapore PM and his Malaysian counter part, Najib announce that both government will start a study to evaluate the possibility of building a third bridge between Singapore and Johor. Personally, I question the motives and the need to build such a structure between two countries, more so when we have very weak relationship bridge with Singapore. The focus should be strengthening and improving the social and emotional bridge between the people of the two nations.
2. Firstly, we must accept that people does not live forever. Unfortunately, Lee Kuan Yew (LKY) may just break the laws of nature. Either in the physical form or his ideological form, LKY will continue dominate the way things are done in Singapore and their perception of their neighbours.
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600 million dollars paid by Temasek for stake in China's CCB
TopNews.inc, 24 May 2009, Gaurav Mehra
$600 million would be invested by Singapore state investment agency Temasek Holdings in order to raise its stake in China Construction Bank to 6.5 percent from 6 percent.
A source familiar with the matter said that with the aim to enhance Temasek’s equity stake in CCB, the world's second-largest lender by market value, the company is mulling to pay $600 million.
As per the media reports, the investment would boost Temasek's holding to 6.5 percent, or 14.3 billion shares.
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$600 million would be invested by Singapore state investment agency Temasek Holdings in order to raise its stake in China Construction Bank to 6.5 percent from 6 percent.
A source familiar with the matter said that with the aim to enhance Temasek’s equity stake in CCB, the world's second-largest lender by market value, the company is mulling to pay $600 million.
As per the media reports, the investment would boost Temasek's holding to 6.5 percent, or 14.3 billion shares.
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The reason behind current stock market rally
Asia Times Online, 23 May 2009, Chan Akya
When you give someone US$1 billion as an interest-free loan, with an uncertain payback period and no interest costs, do you think they will:
a. Settle all their outstanding debts and start earning money to repay this new facility?
b. Invest in some safe securities to eke out a secure return?
c. Bet the whole thing on red?
If you answered "c", then congratulations - you are now eligible to become a banker in the United States. The unsaid part of the current global rally in risk assets is that the process is being driven almost exclusively by financial institutions that are currently in the intensive care unit of the US Treasury.
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When you give someone US$1 billion as an interest-free loan, with an uncertain payback period and no interest costs, do you think they will:
a. Settle all their outstanding debts and start earning money to repay this new facility?
b. Invest in some safe securities to eke out a secure return?
c. Bet the whole thing on red?
If you answered "c", then congratulations - you are now eligible to become a banker in the United States. The unsaid part of the current global rally in risk assets is that the process is being driven almost exclusively by financial institutions that are currently in the intensive care unit of the US Treasury.
Read More
Elderly S'porean man appeals to bank to rehire his son
The Star Online, 23 May 2009
A 78-YEAR-OLD man wrote to a Chinese daily in Singapore appealing to an international bank to re-employ his 50-year-old son who was retrenched early this year, China Press reported.
The elderly man urged the bank, which had opened a new branch on the island, to rehire his son, who had served more than 20 years with it.
The man, known only as Lim, wrote that his son, who is married with children, found it difficult to get a new job.
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A 78-YEAR-OLD man wrote to a Chinese daily in Singapore appealing to an international bank to re-employ his 50-year-old son who was retrenched early this year, China Press reported.
The elderly man urged the bank, which had opened a new branch on the island, to rehire his son, who had served more than 20 years with it.
The man, known only as Lim, wrote that his son, who is married with children, found it difficult to get a new job.
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Mas Selamat Disguised As A Woman To Elude Spore Police
The Star Online, 23 May 2009
JEMAAH Islamiah militant Mas Selamat Kastari took to wearing women’s clothes to escape detection after breaking out from the Whitley Road Detention Centre in Singapore last year.
Harian Metro reported that the terrorist wore several layers of clothing, which he could quickly shed and change to cover his tracks.
The Malay tabloid said Mas Selamat had used drains as his escape route to the beach in Woodlands, from which he swam across 2km under the cover of night to Stulang Laut in Johor Baru, using only children’s arm buoys as aid.
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JEMAAH Islamiah militant Mas Selamat Kastari took to wearing women’s clothes to escape detection after breaking out from the Whitley Road Detention Centre in Singapore last year.Harian Metro reported that the terrorist wore several layers of clothing, which he could quickly shed and change to cover his tracks.
The Malay tabloid said Mas Selamat had used drains as his escape route to the beach in Woodlands, from which he swam across 2km under the cover of night to Stulang Laut in Johor Baru, using only children’s arm buoys as aid.
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Singaporeans irked by ping-pong controversy
The Star Online, 23 May 2009. Seah Chiang Nee
The way that Lee, a Malaysian-born politician, had handled — or mishandled — a talented table tennis coach caused resentment among Singaporeans and some mainland Chinese netizens.
It has led to Singapore being accused — rather unfairly — of ungratefulness, implying that his importance was downgraded after the Olympics feat. Some Singaporeans questioned the need to have a government person manage a sports body — as well as numerous others — instead of people with long relevant experience.
Lee is the latest of a number of MPs who have been on the receiving end of public wrath.
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The way that Lee, a Malaysian-born politician, had handled — or mishandled — a talented table tennis coach caused resentment among Singaporeans and some mainland Chinese netizens.
It has led to Singapore being accused — rather unfairly — of ungratefulness, implying that his importance was downgraded after the Olympics feat. Some Singaporeans questioned the need to have a government person manage a sports body — as well as numerous others — instead of people with long relevant experience.
Lee is the latest of a number of MPs who have been on the receiving end of public wrath.
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LKY says Goh CT does not want to demolish the Causeway - Mahathir
Malaysia-Today.net, 23 May 2009, Raja Petra Kamarudin
“Lee Kuan Yew told me that Goh Chok Tong is too sentimental. That’s why he does not want to see the Causeway demolished. So we will have to wait until Chok Tong retires and then, after he retires, we shall demolish the whole Causeway.” - Mahathir
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“Lee Kuan Yew told me that Goh Chok Tong is too sentimental. That’s why he does not want to see the Causeway demolished. So we will have to wait until Chok Tong retires and then, after he retires, we shall demolish the whole Causeway.” - Mahathir
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Indonesia Request Singapore Help To Extradite Graft Fugitive
Jakarta Globe, 22 May 2009, Farouk Arnaz & Heru Andriyanto
Indonesia is seeking assistance from Singapore to extradite a key graft fugitive identified as Samadikun Hartono, who is believed to be living in the neighboring country, National Police Chief Gen. Bambang Hendarso Danuri said on Friday.
Rumors were circulating early this week that Samadikun, who was to be imprisoned in May 2003, had been arrested when the National Police hosted a meeting with officers from the Singapore Police on Wednesday. Samadikun fled Indonesia after being found guilty of misusing Bank Indonesia’s bailout fund
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Indonesia is seeking assistance from Singapore to extradite a key graft fugitive identified as Samadikun Hartono, who is believed to be living in the neighboring country, National Police Chief Gen. Bambang Hendarso Danuri said on Friday.
Rumors were circulating early this week that Samadikun, who was to be imprisoned in May 2003, had been arrested when the National Police hosted a meeting with officers from the Singapore Police on Wednesday. Samadikun fled Indonesia after being found guilty of misusing Bank Indonesia’s bailout fund
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Man duped of Rs 1.5 lakh after being promised job in Singapore
The Times Of India, 23 May 2009
CHENNAI: A 26-year-old lodged a complaint with the Chennai suburban police stating that he was cheated of Rs1,50,000 by a person who had promised him an education opportunity and a job in Singapore.
Praveen (26), who was allegedly cheated, has been a resident of Madipakkam for the past 25 years. Last year, Muniyandi moved into their first floor flat in their premises and stayed there for three months.
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CHENNAI: A 26-year-old lodged a complaint with the Chennai suburban police stating that he was cheated of Rs1,50,000 by a person who had promised him an education opportunity and a job in Singapore.
Praveen (26), who was allegedly cheated, has been a resident of Madipakkam for the past 25 years. Last year, Muniyandi moved into their first floor flat in their premises and stayed there for three months.
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Vietnam keen to expand links with Singapore
VietNamNet, 22 May 2009
Vietnam wishes to develop its friendship and comprehensive cooperation with Singapore, said Deputy Prime Minister and Foreign Minister Pham Gia Khiem.
Khiem made the statement during talks with Singaporean Prime Minister George Yeo, who is on a visit to Vietnam from May 22-25 and attends the 9 th ASEM Foreign Ministers’ Meeting in Hanoi .
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Vietnam wishes to develop its friendship and comprehensive cooperation with Singapore, said Deputy Prime Minister and Foreign Minister Pham Gia Khiem.
Khiem made the statement during talks with Singaporean Prime Minister George Yeo, who is on a visit to Vietnam from May 22-25 and attends the 9 th ASEM Foreign Ministers’ Meeting in Hanoi .
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Singapore firm produces "black box" for ships
Xinhua, 22 May 2009
SINGAPORE, May 22 (Xinhua) -- A Singapore company has put on the market a data recorder, the "black box" for ships to prevent maritime accidents, local media reported on Friday.
According to TV broadcaster Channel NewsAsia, the Voyage Data Recorder, which is said to be the first for Singapore as well as for Southeast Asia, is designed by local firm Pamarine and supported by a government agency SPRING.
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SINGAPORE, May 22 (Xinhua) -- A Singapore company has put on the market a data recorder, the "black box" for ships to prevent maritime accidents, local media reported on Friday.
According to TV broadcaster Channel NewsAsia, the Voyage Data Recorder, which is said to be the first for Singapore as well as for Southeast Asia, is designed by local firm Pamarine and supported by a government agency SPRING.
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Between ST and TOC, A World of Difference
The Kent Ridge Common, 23 May 2009, Christopher Ong
The Online Citizen’s extended coverage on the detainment of these 22 social activists contrasted strongly with the Straits Times’ brief mention of anything tangentially relevant to this episode — the 100 or so people who turned up at Hong Lim Park to remember the event, in a small column at the last page of the Home Section. (Thank God too, a sizable amount of people who always turn to the Sports section first — facing the end of the Home Section — may have chanced upon the article.)
Even so, the report in the Straits Times was laconic, diluted to an almost improvished and bland account that anyone reading it would probably pass it off at the very next second, completely unaware of the significance of the event more than two decades ago.
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The Online Citizen’s extended coverage on the detainment of these 22 social activists contrasted strongly with the Straits Times’ brief mention of anything tangentially relevant to this episode — the 100 or so people who turned up at Hong Lim Park to remember the event, in a small column at the last page of the Home Section. (Thank God too, a sizable amount of people who always turn to the Sports section first — facing the end of the Home Section — may have chanced upon the article.)
Even so, the report in the Straits Times was laconic, diluted to an almost improvished and bland account that anyone reading it would probably pass it off at the very next second, completely unaware of the significance of the event more than two decades ago.
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S'pore govt needs holistic Web approach
ZDNet Asia, 22 May 2009, Eileen Yu
The Singapore government will need to adopt a whole new mindset and holistic strategy, in its efforts to engage its citizens via the Internet and other new media platforms, say industry watchers.
The local government has in recent months indicated a desire to engage Singaporeans on a new level, in cyber space, to be in sync with an increasingly tech-savvy population.
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The Singapore government will need to adopt a whole new mindset and holistic strategy, in its efforts to engage its citizens via the Internet and other new media platforms, say industry watchers.
The local government has in recent months indicated a desire to engage Singaporeans on a new level, in cyber space, to be in sync with an increasingly tech-savvy population.
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Singapore, Malaysia seek to build new bridges
Reuter, 22 May 2009, Nopporn Wong-Anan
SINGAPORE, May 22 (Reuters) - Singapore and Malaysia will consider literally building new bridges to improve an often uneasy relationship, their leaders said on Friday.
Singapore Prime Minister Lee Hsien Loong said options to improve the relationship included better rail links, broadening a congested causeway between the two, or possibly building a new bridge to link eastern Singapore to Malaysian border state Johor.
Lee said his government could also support the Iskandar Malaysia project, a planned economic zone in Johor that would be Southeast Asia's rival to China's Pearl River manufacturing heartland to give both nations a boost in the global downturn.
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Related News:
Malaysia, Singapore Relations Can Blossom - Najib - Bernama.com
SINGAPORE, May 22 (Reuters) - Singapore and Malaysia will consider literally building new bridges to improve an often uneasy relationship, their leaders said on Friday.
Singapore Prime Minister Lee Hsien Loong said options to improve the relationship included better rail links, broadening a congested causeway between the two, or possibly building a new bridge to link eastern Singapore to Malaysian border state Johor.
Lee said his government could also support the Iskandar Malaysia project, a planned economic zone in Johor that would be Southeast Asia's rival to China's Pearl River manufacturing heartland to give both nations a boost in the global downturn.
Read More
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Malaysia, Singapore Relations Can Blossom - Najib - Bernama.com
Flight Centre and SIA clash on commissions
The Australian, 23 May 2009, Steve Creedy
AN ACRIMONIOUS dispute between Singapore Airlines and travel giant Flight Centre spilled into the public domain yesterday after the airline warned its frequent flyers the agency was no longer actively selling its fares.
Singapore's Krisflyer members were warned in an email that they might no longer be able to buy tickets for its flights from Flight Centre, and pointed customers to other travel agencies and its website.
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AN ACRIMONIOUS dispute between Singapore Airlines and travel giant Flight Centre spilled into the public domain yesterday after the airline warned its frequent flyers the agency was no longer actively selling its fares.
Singapore's Krisflyer members were warned in an email that they might no longer be able to buy tickets for its flights from Flight Centre, and pointed customers to other travel agencies and its website.
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FEER Appeals Against Singapore Defamation Ruling
Nasdaq, 22 May 2009, Dow Jones Newswire
SINGAPORE (AFP)--A Hong Kong-based regional magazine Friday appealed a Singapore High Court ruling that it defamed Singapore's Prime Minister Lee Hsien Loong and his father Lee Kuan Yew, the city-state's former prime minister.
Peter Low, a lawyer for the Far Eastern Economic Review, argued there was nothing in the article, published in 2006, that defamed the Lees.
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Magazine appeals Singapore defamation ruling - AFP
Far Eastern appeals Singapore defamation ruling - The Standard
Magazine appeals Singapore defamation ruling - The Age
SINGAPORE (AFP)--A Hong Kong-based regional magazine Friday appealed a Singapore High Court ruling that it defamed Singapore's Prime Minister Lee Hsien Loong and his father Lee Kuan Yew, the city-state's former prime minister.
Peter Low, a lawyer for the Far Eastern Economic Review, argued there was nothing in the article, published in 2006, that defamed the Lees.
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Related News:
Magazine appeals Singapore defamation ruling - AFP
Far Eastern appeals Singapore defamation ruling - The Standard
Magazine appeals Singapore defamation ruling - The Age
Malaysia, Singapore eye changes to economic models
Forbes.com, 22 May 2009, Associated Press
Malaysia and Singapore said Friday they may tweak their economic models as a collapse in demand from the U.S. and Europe sends the Southeast Asian neighbors into recession.
Malaysia plans to emphasize "greater creativity, innovation and high-value" as part of an effort to spark economic growth, Prime Minister Najib Razak said. Details of the plan would be announced "when we're ready," he said.
Singapore, which relies on trade, finance and tourism, will review over the next few months which manufacturing and services it may branch into, Lee said.
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Malaysia and Singapore said Friday they may tweak their economic models as a collapse in demand from the U.S. and Europe sends the Southeast Asian neighbors into recession.
Malaysia plans to emphasize "greater creativity, innovation and high-value" as part of an effort to spark economic growth, Prime Minister Najib Razak said. Details of the plan would be announced "when we're ready," he said.
Singapore, which relies on trade, finance and tourism, will review over the next few months which manufacturing and services it may branch into, Lee said.
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Foreign workers lives at risk in Singapore
ABC Radio Australia, 22 May 2009
Apart from doing the tough jobs that nobody wants, foreign workers in Singapore also face danger getting to and from work.
The transportation of foreign workers, mainly in the construction and manufacturing sectors, has long been a controversial area. This is because of safety issues, as they are ferried about on the trays of pick-up trucks.
Presenter: Sen Lam
Speaker: Bharati Jagdish at Radio 938-LIVE in Singapore
To listen to the program, click here
News Link
Apart from doing the tough jobs that nobody wants, foreign workers in Singapore also face danger getting to and from work.
The transportation of foreign workers, mainly in the construction and manufacturing sectors, has long been a controversial area. This is because of safety issues, as they are ferried about on the trays of pick-up trucks.
Presenter: Sen Lam
Speaker: Bharati Jagdish at Radio 938-LIVE in Singapore
To listen to the program, click here
News Link
Internet Users Finding Help To Evade the State Censors
NewsFactor Network, 5 May 2009, Doug Bandow
Political scientists at the University of Toronto have built another system, called Psiphon, that allows anyone to evade national Internet firewalls using a Web browser. Sensing a business opportunity, they created a company to profit by making it possible for media companies to deliver digital content to Web users behind national firewalls.
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Political scientists at the University of Toronto have built another system, called Psiphon, that allows anyone to evade national Internet firewalls using a Web browser. Sensing a business opportunity, they created a company to profit by making it possible for media companies to deliver digital content to Web users behind national firewalls.
Read More
Singapore's Temasek defends costly Bank of America exit
Reuters, 22 May 2009, Kevin Lim and Saeed Azhar
SINGAPORE (Reuters) - Singapore's Temasek defended its money-losing exit from Bank of America (BAC.N), saying the U.S.-centric bank did not fit its investment criteria and the risk was perceived to be greater than the expected return.
The explanation, a rarity for the state investor, came in a letter to major Singapore newspapers after the loss on BofA attracted fierce criticism from the usually muted pro-government local media, investors and independent blogs, which noted BofA shares have rallied more than 70 percent after Temasek's exit.
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Temasek defends BofA stake sale - Financial Times
SINGAPORE (Reuters) - Singapore's Temasek defended its money-losing exit from Bank of America (BAC.N), saying the U.S.-centric bank did not fit its investment criteria and the risk was perceived to be greater than the expected return.
The explanation, a rarity for the state investor, came in a letter to major Singapore newspapers after the loss on BofA attracted fierce criticism from the usually muted pro-government local media, investors and independent blogs, which noted BofA shares have rallied more than 70 percent after Temasek's exit.
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Temasek defends BofA stake sale - Financial Times
Malaysia Proposes Third Bridge Link To Singapore
Bernama.com, 22 May 2009, Zakaria Abdul Wahab
SINGAPORE, May 22 (Bernama) -- Malaysia has proposed to Singapore that a new bridge be built to link the eastern side of Johor to the island republic.
The new bridge will help to further facilitate the movement of people and goods and services between both countries, Malaysian Prime Minister Datuk Seri Najib Tun Razak said at a joint media conference with his Singapore counterpart Lee Hsien Loong here today.
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Related News:
Malaysia proposes third bridge to S'pore - The Star Online
SINGAPORE, May 22 (Bernama) -- Malaysia has proposed to Singapore that a new bridge be built to link the eastern side of Johor to the island republic.
The new bridge will help to further facilitate the movement of people and goods and services between both countries, Malaysian Prime Minister Datuk Seri Najib Tun Razak said at a joint media conference with his Singapore counterpart Lee Hsien Loong here today.
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Malaysia proposes third bridge to S'pore - The Star Online
Professors Sir David and Birgit Lane quit Scotland for Singapore
Times Online, 22 May 2009, Peter Jones
Scotland is losing two of the world’s leading cancer and skin disease researchers to Singapore.
Professors Sir David and Birgit Lane, who have been at the University of Dundee since 1990, are the latest scientists to be lured by the big salaries and lavish research facilities the Asian country is offering.
The husband and wife team are moving to Agency for Science, Technology and Research, where Sir David will be the chief scientist and Birgit the executive director of the agency’s Institute of Medical Biology.
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Related News:
Return of Singapore's Non-native Prodigal Son (and Daughter) - ScienceInsider
Scotland is losing two of the world’s leading cancer and skin disease researchers to Singapore.
Professors Sir David and Birgit Lane, who have been at the University of Dundee since 1990, are the latest scientists to be lured by the big salaries and lavish research facilities the Asian country is offering.
The husband and wife team are moving to Agency for Science, Technology and Research, where Sir David will be the chief scientist and Birgit the executive director of the agency’s Institute of Medical Biology.
Read More
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Return of Singapore's Non-native Prodigal Son (and Daughter) - ScienceInsider
Struggling CapitaCommercial to raise $573 mln in rights issue
Reuters, 22 May 2009, Kevin Lim
CapitaCommercial Trust (CCT) (CACT.SI), a property trust managed by CapitaLand (CATL.SI), launched a rights offer on Friday to raise S$828 million ($573 million) to reduce debt as prices of offices tumble.
CCT will offer existing shareholders one new units for every one held at S$0.59 a unit, which translates to a discount of about 44 percent to the closing price of S$1.06 a share.
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CapitaCommercial Trust (CCT) (CACT.SI), a property trust managed by CapitaLand (CATL.SI), launched a rights offer on Friday to raise S$828 million ($573 million) to reduce debt as prices of offices tumble.
CCT will offer existing shareholders one new units for every one held at S$0.59 a unit, which translates to a discount of about 44 percent to the closing price of S$1.06 a share.
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Jurong Aromatics delays project till 2013 on credit crunch
Guardian.co.uk, 22 May 2009, Reuters
SINGAPORE, May 22 (Reuters) - Jurong Aromatics Corp (JAC) has delayed the start-up of its $2.4 billion aromatics project in Singapore until early 2013 from 2011, as it struggles to obtain funding in the current credit crunch.
Jurong Aromatics had earlier hoped to secure financing for the project by end-June, but this will likely be completed only in the second half of the year, a company spokesman said.
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SINGAPORE, May 22 (Reuters) - Jurong Aromatics Corp (JAC) has delayed the start-up of its $2.4 billion aromatics project in Singapore until early 2013 from 2011, as it struggles to obtain funding in the current credit crunch.
Jurong Aromatics had earlier hoped to secure financing for the project by end-June, but this will likely be completed only in the second half of the year, a company spokesman said.
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Standard & Poor’s rates Vietnam below ‘investment’ grade
Thanh Nien Daily, 22 May 2009
Standard & Poor’s affirmed Vietnam’s sovereign ratings, highlighting the country’s economic growth prospects and restructuring efforts, but kept a negative outlook citing the vulnerability of the banking sector.
S&P maintained on Thursday its “BB” foreign-currency rating, or two notches below investment grade. The country’s local currency rating remains one rung above that at “BB-plus.”
“The credit ratings reflect the country’s low-income economy, developing financial system, and evolving policy framework,” Standard & Poor’s credit analyst Kim Eng Tan was quoted as saying in a statement released from Singapore.
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Standard & Poor’s affirmed Vietnam’s sovereign ratings, highlighting the country’s economic growth prospects and restructuring efforts, but kept a negative outlook citing the vulnerability of the banking sector.
S&P maintained on Thursday its “BB” foreign-currency rating, or two notches below investment grade. The country’s local currency rating remains one rung above that at “BB-plus.”
“The credit ratings reflect the country’s low-income economy, developing financial system, and evolving policy framework,” Standard & Poor’s credit analyst Kim Eng Tan was quoted as saying in a statement released from Singapore.
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Singapore's Temasek explains Bank of America sale
Reuters, 21 May 2009, Kevin Lim
SINGAPORE, May 22 (Reuters) - Singapore state investor Temasek [TEM.UL] has defended the divestment of its Bank of America (BAC.N) stake at an estimated loss of more than $3 billion, saying the risk environment and nature of the investment had changed.
Temasek, which got a 3 percent stake in BofA after the latter bought Merrill Lynch in September 2008, sold its stake in the U.S. lender in the first quarter of this year, according to a regulatory filing last week. [ID:nSIN454726]
In a letter to the Straits Times newspaper on Friday, Temasek Managing Director for Corporate Affairs Myrna Thomas said the state investor had bought into Merrill's "specific businesses" but ended up with BofA's "linkage to the broader U.S. economy".
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Temasek: BofA Divestment Was To Balance Risk Vs Opportunities - CNNMoney.com
SINGAPORE, May 22 (Reuters) - Singapore state investor Temasek [TEM.UL] has defended the divestment of its Bank of America (BAC.N) stake at an estimated loss of more than $3 billion, saying the risk environment and nature of the investment had changed.
Temasek, which got a 3 percent stake in BofA after the latter bought Merrill Lynch in September 2008, sold its stake in the U.S. lender in the first quarter of this year, according to a regulatory filing last week. [ID:nSIN454726]
In a letter to the Straits Times newspaper on Friday, Temasek Managing Director for Corporate Affairs Myrna Thomas said the state investor had bought into Merrill's "specific businesses" but ended up with BofA's "linkage to the broader U.S. economy".
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