Antara News, 31 Aug 2009
Singapore (ANTARA News/AFP) - Singapore Prime Minister Lee Hsien Loong on Monday congratulated the leader of Japan`s victorious opposition party, saying its landslide election win reflected the Japanese people`s desire for change.
"Please accept my warmest congratulations on the Democratic Party of Japan`s historic victory in the Lower House elections," Lee said in a letter to DPJ leader Yukio Hatoyama.
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Monday, August 31, 2009
GIC to Invest in Sinopharm’s Initial Stock Sale
Bloomberg.com, 31 Aug 2009
Aug. 31 (Bloomberg) -- Och-Ziff Capital Management Group LLC, Government of Singapore Investment Corp. and China Life Asset Management Co. will invest in Sinopharm Group Co.’s initial public offering, two people with knowledge of the matter said.
Jennifer Lewis, a spokeswoman for GIC in Singapore, declined to comment, as did a China Life Asset Management spokeswoman who asked not to be identified. Zoltan Varga, head of Asia at Och-Ziff, wasn’t immediately available for comment.
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Aug. 31 (Bloomberg) -- Och-Ziff Capital Management Group LLC, Government of Singapore Investment Corp. and China Life Asset Management Co. will invest in Sinopharm Group Co.’s initial public offering, two people with knowledge of the matter said.
Jennifer Lewis, a spokeswoman for GIC in Singapore, declined to comment, as did a China Life Asset Management spokeswoman who asked not to be identified. Zoltan Varga, head of Asia at Och-Ziff, wasn’t immediately available for comment.
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S'pore's GIC names chiefs for Europe, Americas operations
Reuters, 31 Aug 2009
SINGAPORE, Aug 31 (Reuters) - The Government of Singapore Investment Corp (GIC), which manages an estimated $200 billion-plus in assets said it has created the new posts of president (Europe) and president (Americas) to help it improve ties with policymakers.
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Related:
Singapore's GIC Appoints Presidents For Europe, Americas - Nasdaq
SINGAPORE, Aug 31 (Reuters) - The Government of Singapore Investment Corp (GIC), which manages an estimated $200 billion-plus in assets said it has created the new posts of president (Europe) and president (Americas) to help it improve ties with policymakers.
Read More
Related:
Singapore's GIC Appoints Presidents For Europe, Americas - Nasdaq
Singapore workers urged to be better and faster
TopNews.com, 31 Aug 2009
Sunday, at a community event secretary-general of the National Trades Union Congress (NTUC), Lim Swee Say, expressed that Singapore workers need to be better and faster.
He specified that Singapore has a better chance in the new world economy, despite other countries competing fiercely with it for the next three to five years.
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Sunday, at a community event secretary-general of the National Trades Union Congress (NTUC), Lim Swee Say, expressed that Singapore workers need to be better and faster.
He specified that Singapore has a better chance in the new world economy, despite other countries competing fiercely with it for the next three to five years.
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Singapore Government Cuts Charge For Residential Developments By 2%
Nasdaq
SINGAPORE -(Dow Jones)- Singapore's Ministry of National Development said Monday that it will cut a tax on residential property sites that are developed into more valuable projects by 2%, on average, islandwide.
The revised charges will take effect Sept. 1, and will last until March next year, the ministry said in a statement.
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SINGAPORE -(Dow Jones)- Singapore's Ministry of National Development said Monday that it will cut a tax on residential property sites that are developed into more valuable projects by 2%, on average, islandwide.
The revised charges will take effect Sept. 1, and will last until March next year, the ministry said in a statement.
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Singapore July bank lending down 0.15 pct from June-MAS
Interactive Investor, 31 Aug 2009
SINGAPORE, Aug 31 (Reuters) - Total bank lending in Singapore fell 0.15 percent in July to S$271.8 billion ($188.6 billion) from S$272.2 billion in June and S$270.8 billion in May, central bank data showed on Monday.
But housing loans to consumers jumped 1.8 percent in July to S$84.3 billion from S$82.9 billion a month earlier.
Link
SINGAPORE, Aug 31 (Reuters) - Total bank lending in Singapore fell 0.15 percent in July to S$271.8 billion ($188.6 billion) from S$272.2 billion in June and S$270.8 billion in May, central bank data showed on Monday.
But housing loans to consumers jumped 1.8 percent in July to S$84.3 billion from S$82.9 billion a month earlier.
Link
Switzerland, Singapore Initial Revised Double Tax Agreement
Nasdaq
URICH -(Dow Jones)- Switzerland and Singapore have concluded negotiations on extending administrative assistance in tax matters and have initialed a revised double taxation agreement, or DTA, the Swiss government said Monday. The DTA was negotiated in line with the parameters decided by the Federal Council. The DTA is in line with the standards set by the Organisation for Economic Co-operation and Development, or OECD.
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URICH -(Dow Jones)- Switzerland and Singapore have concluded negotiations on extending administrative assistance in tax matters and have initialed a revised double taxation agreement, or DTA, the Swiss government said Monday. The DTA was negotiated in line with the parameters decided by the Federal Council. The DTA is in line with the standards set by the Organisation for Economic Co-operation and Development, or OECD.
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Changi Airport Group calls tender for mid-price brand name fashion concessions to target ‘price-savvy travellers’
MoodieReport.com, 31 Aug 2009
SINGAPORE. Changi Airport Group has invited retailers to participate in a tender for the Mid-Price Brand Name Fashion Concessions at Singapore Changi Airport Terminal 1’s Departure/Transit Lounge West.
With floor areas ranging from 70sqm to 161sq m, the four concessions are situated in a busy part of the terminal with planned food & beverage outlets in close proximity.
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SINGAPORE. Changi Airport Group has invited retailers to participate in a tender for the Mid-Price Brand Name Fashion Concessions at Singapore Changi Airport Terminal 1’s Departure/Transit Lounge West.
With floor areas ranging from 70sqm to 161sq m, the four concessions are situated in a busy part of the terminal with planned food & beverage outlets in close proximity.
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Singapore to Make Billions Handling Cross-Border Arbitrations
Bloomberg.com, 31 Aug 2009
Aug. 31 (Bloomberg) -- When Matthew Gearing represents Deutsche Bank AG in its oil hedging dispute against Sri Lanka’s government, some 20 lawyers, arbitrators and witnesses from the U.K., Belgium, New Zealand and Pakistan will be enlisted, too.
“When there’s an international case in Singapore like this, you attract a cast from all over the world,” said Gearing, a Hong Kong-based partner at Allen & Overy LLP.
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Aug. 31 (Bloomberg) -- When Matthew Gearing represents Deutsche Bank AG in its oil hedging dispute against Sri Lanka’s government, some 20 lawyers, arbitrators and witnesses from the U.K., Belgium, New Zealand and Pakistan will be enlisted, too.
“When there’s an international case in Singapore like this, you attract a cast from all over the world,” said Gearing, a Hong Kong-based partner at Allen & Overy LLP.
Read More
Sunday, August 30, 2009
Allegations fly over Singapore F1 2008
Grandprix.com, 30 Aug 2009
The Brazilian TV station Globo has claimed that Nelson Piquet was ordered to crash by the Renault team during the Singapore GP last year. The accident resulted in a Safety Car which played into the hands of Fernando Alonso, who had pitted just before the accident occurred. The result was that Renault was able to win the race.
There were suspicions at the time that this had happened but there was no proof. Since Piquet was fired by Renault, claims have been flying around and Globo says that it has received information that there is evidence to back up the story. We hear that the FIA may call in an independent body to investigate the claims being made.
Link
Related:
F1 launches Singapore race probe - BBC Sport
FIA launches grand prix ‘fix’ probe - Times Online
F1 governing body opens race probe - Reuters India
Fernando Alonso’s ‘lucky’ Singapore win back in spotlight - Times Online
FIA to investigate after 'cheat' claims over Renault win at Singapore Grand Prix - Telegraph.co.uk
FIA investigate Fernando Alonso's win in Singapore - Typicallyspanish.com
FIA to investigate Singapore GP 2008 - Formula1.net
The Brazilian TV station Globo has claimed that Nelson Piquet was ordered to crash by the Renault team during the Singapore GP last year. The accident resulted in a Safety Car which played into the hands of Fernando Alonso, who had pitted just before the accident occurred. The result was that Renault was able to win the race.
There were suspicions at the time that this had happened but there was no proof. Since Piquet was fired by Renault, claims have been flying around and Globo says that it has received information that there is evidence to back up the story. We hear that the FIA may call in an independent body to investigate the claims being made.
Link
Related:
F1 launches Singapore race probe - BBC Sport
FIA launches grand prix ‘fix’ probe - Times Online
F1 governing body opens race probe - Reuters India
Fernando Alonso’s ‘lucky’ Singapore win back in spotlight - Times Online
FIA to investigate after 'cheat' claims over Renault win at Singapore Grand Prix - Telegraph.co.uk
FIA investigate Fernando Alonso's win in Singapore - Typicallyspanish.com
FIA to investigate Singapore GP 2008 - Formula1.net
Elucidating the mind of a voter
Commentary
The Kent Ridge Common, 30 Aug 2009
One of the most intriguing questions, and I suspect that would be of interest to the political parties out there is what exactly goes through the mind of a voter when he is at the polling station filling in his voting slip?
Different voters have different socio-economic backgrounds, and have different interests. Their expectations may differ. Some of the interesting questions when we examine the mind of a voter is to what degree he is influenced by election carrots in the form of cash handouts and upgrading.
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The Kent Ridge Common, 30 Aug 2009
One of the most intriguing questions, and I suspect that would be of interest to the political parties out there is what exactly goes through the mind of a voter when he is at the polling station filling in his voting slip?
Different voters have different socio-economic backgrounds, and have different interests. Their expectations may differ. Some of the interesting questions when we examine the mind of a voter is to what degree he is influenced by election carrots in the form of cash handouts and upgrading.
Read More
Tiger Airways Voted The Worst Airline In Australia
News.com.au, 30 Aug 2009
AUSTRALIANS have voted Tiger Airways their least favourite airline, says a new survey.
The Domestic Airline Satisfaction Survey conducted by Choice magazine ranked Tiger lowest, with a 55 per cent satisfaction rate.
Jetstar was rated second-lowest, with a 60 per cent satisfaction rate, while Virgin Blue was the most satisfactory, at 68 per cent.
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AUSTRALIANS have voted Tiger Airways their least favourite airline, says a new survey.
The Domestic Airline Satisfaction Survey conducted by Choice magazine ranked Tiger lowest, with a 55 per cent satisfaction rate.
Jetstar was rated second-lowest, with a 60 per cent satisfaction rate, while Virgin Blue was the most satisfactory, at 68 per cent.
Read More
Smaller crowd expected for second Singapore GP
Motersport.com, 29 Aug 2009
A repeat of the high crowd numbers seen last year is unlikely for the second edition of Singapore's floodlit Grand Prix in less than one month.
100,000 spectators watched the action at the Marina Bay street venue in 2008, but so far only 60,000 tickets for this year's race have been sold.
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A repeat of the high crowd numbers seen last year is unlikely for the second edition of Singapore's floodlit Grand Prix in less than one month.
100,000 spectators watched the action at the Marina Bay street venue in 2008, but so far only 60,000 tickets for this year's race have been sold.
Read More
From beer to banks, Singapore Inc. expands across Asia
AFP
SINGAPORE — Next time you stay in a luxury resort, buy a loaf of bread, open a bank account, sit on a massage chair, grab a sushi or sip a beer anywhere in Asia, check the company's country of origin.
Chances are you are dealing with a brand based in Singapore, the affluent city-state that has broken beyond its compact size to become a regional economic powerhouse.
With the global economy apparently on the mend, Singapore Inc. is all set to reap the benefits of stepped-up spending by Asia's middle and upper classes in the coming years.
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SINGAPORE — Next time you stay in a luxury resort, buy a loaf of bread, open a bank account, sit on a massage chair, grab a sushi or sip a beer anywhere in Asia, check the company's country of origin.
Chances are you are dealing with a brand based in Singapore, the affluent city-state that has broken beyond its compact size to become a regional economic powerhouse.
With the global economy apparently on the mend, Singapore Inc. is all set to reap the benefits of stepped-up spending by Asia's middle and upper classes in the coming years.
Read More
Singapore, Bangkok may be new gold trade centres
The Economic Times, 30 Aug 2009
NEW DELHI: A tectonic shift in global gold markets looks imminent, with the world’s top two traditional centres of gold, Switzerland and Dubai, set to make way for the South East Asian hubs of Singapore and Bangkok.
The reason: the recent India-Asean free trade agreement, which could make it cheaper for India to source gold from these two countries. India being the world’s biggest gold consuming country in the world, any change in its sourcing pattern will easily change the market dynamics.
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NEW DELHI: A tectonic shift in global gold markets looks imminent, with the world’s top two traditional centres of gold, Switzerland and Dubai, set to make way for the South East Asian hubs of Singapore and Bangkok.
The reason: the recent India-Asean free trade agreement, which could make it cheaper for India to source gold from these two countries. India being the world’s biggest gold consuming country in the world, any change in its sourcing pattern will easily change the market dynamics.
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SIA to fly to Melbourne with A380
The Sunday Times, 30 Aug 2009
From end September, customers travelling between Singapore and Melbourne will get to enjoy an unrivalled inflight experience as Singapore Airlines operates the Airbus A380, the largest passenger aircraft in the world, to the city, the airline said this week.
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From end September, customers travelling between Singapore and Melbourne will get to enjoy an unrivalled inflight experience as Singapore Airlines operates the Airbus A380, the largest passenger aircraft in the world, to the city, the airline said this week.
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Stars' citizenship weakens 'Cause'
Hollywoodreporter.com, 29 Aug 2009
BEIJING -- A patriotic Chinese film aimed at boosting national pride ahead of a key political anniversary has tempers rising instead, because many of the movie's stars are foreign citizens.
An online list shows that one quarter of the 80 celebrities affiliated with "The Great Cause of China's Foundation," being made to celebrate the 60th anniversary of the Communist Party rule, are legally foreigners.
Some of the stars, like Jackie Chan and Andy Lau, have been Hong Kong citizens all their lives, but action star Jet Li, now a Singaporean, and director Chen Kaige, who holds U.S. citizenship, were born in the People's Republic of China.
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BEIJING -- A patriotic Chinese film aimed at boosting national pride ahead of a key political anniversary has tempers rising instead, because many of the movie's stars are foreign citizens.
An online list shows that one quarter of the 80 celebrities affiliated with "The Great Cause of China's Foundation," being made to celebrate the 60th anniversary of the Communist Party rule, are legally foreigners.
Some of the stars, like Jackie Chan and Andy Lau, have been Hong Kong citizens all their lives, but action star Jet Li, now a Singaporean, and director Chen Kaige, who holds U.S. citizenship, were born in the People's Republic of China.
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A Global Rice Revolution
Asia Sentinel, 29 Aug 2009
The traditional methods that Asian farmers have used for hundreds of years to grow rice are beginning to give way to what its supporters say are new, environmentally healthier and more productive practices developed in Madagascar by Henri de Laulanie, a Jesuit priest, in the 1980s.
SRI – the universal acronym for what de Laulanie called System of Rice Intensification – didn't begin to spread out of Madagascar until about 1999. But in the past 10 years, farmers from China to India to Indonesia and the Philippines have begun to shift to the new method, which paradoxically involves planting fewer and younger seedlings, spaced wider apart, and using less water than Asian farmers have used for centuries.
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The traditional methods that Asian farmers have used for hundreds of years to grow rice are beginning to give way to what its supporters say are new, environmentally healthier and more productive practices developed in Madagascar by Henri de Laulanie, a Jesuit priest, in the 1980s.
SRI – the universal acronym for what de Laulanie called System of Rice Intensification – didn't begin to spread out of Madagascar until about 1999. But in the past 10 years, farmers from China to India to Indonesia and the Philippines have begun to shift to the new method, which paradoxically involves planting fewer and younger seedlings, spaced wider apart, and using less water than Asian farmers have used for centuries.
Read More
Saturday, August 29, 2009
A probable alliance
Commentary
The Kent Ridge Common, 29 Aug 2009
SINGAPORE – An interesting development in the Singapore political scene took place when veteran opposition leader Mr Chiam See Tong from the Singapore Democratic Alliance approached Mr Kenneth Jeyaretnam of the Reform Party and both parties discussed the possibility of forming a joint GRC team to compete in the next General Elections.
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The Kent Ridge Common, 29 Aug 2009
SINGAPORE – An interesting development in the Singapore political scene took place when veteran opposition leader Mr Chiam See Tong from the Singapore Democratic Alliance approached Mr Kenneth Jeyaretnam of the Reform Party and both parties discussed the possibility of forming a joint GRC team to compete in the next General Elections.
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Driven to driving a taxi despite having a PhD
The Star Online, 29 Aug 2009
Bio-chemist Dr Cai Minnjie who failed to land another research position after losing his job last year now happily prowls the streets as a cabbie.
SINGAPORE’S fraternity of taxi drivers, with its fair share of retrenched executives, has now an exalted new member – a PhD bio-chemist from Stanford University.
Prowling the streets of Singapore today is 57-year-old unemployed scientist Dr Cai Mingjie who lost his job at Singapore’s premier A-Star biomedical research institute last year.
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Bio-chemist Dr Cai Minnjie who failed to land another research position after losing his job last year now happily prowls the streets as a cabbie.
SINGAPORE’S fraternity of taxi drivers, with its fair share of retrenched executives, has now an exalted new member – a PhD bio-chemist from Stanford University.
Prowling the streets of Singapore today is 57-year-old unemployed scientist Dr Cai Mingjie who lost his job at Singapore’s premier A-Star biomedical research institute last year.
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Singapore raises the bar
The Star Online, 29 Aug 2009
SINGAPORE hosted the Asian Investment Corporation and Exhibition conference on July 18 this year, aiming to not only raise the skills set and investment competencies of investors but to also showcase investment opportunities in the region.
The opening remarks by Singapore’s 2nd Finance Minister focused on the need for investors to have a good understanding of the companies in which they invest, including the underlying business model and depth of the management team.
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SINGAPORE hosted the Asian Investment Corporation and Exhibition conference on July 18 this year, aiming to not only raise the skills set and investment competencies of investors but to also showcase investment opportunities in the region.
The opening remarks by Singapore’s 2nd Finance Minister focused on the need for investors to have a good understanding of the companies in which they invest, including the underlying business model and depth of the management team.
Read More
Friday, August 28, 2009
Singapore Central Bank Sues Pheim, Tan for Share Manipulation
Bloomberg.com, 28 Aug 2009
Aug. 28 (Bloomberg) -- Singapore’s central bank sued Pheim Asset Management Pte Chief Executive Officer Tan Chong Koay and the fund manager’s Malaysian unit for manipulating the shares of a water treatment company.
Tan and Pheim Asset Management Sdn. bought almost 90 percent of the traded shares of Singapore-based United Envirotech Ltd. from Dec. 29 to Dec. 31, 2004, according to a statement presented to Singapore’s High Court by the Monetary Authority of Singapore’s lawyers Drew & Napier LLC yesterday.
Read More
Related:
Landmark case in Singapore on rigging the market - The Malaysian Insider
Aug. 28 (Bloomberg) -- Singapore’s central bank sued Pheim Asset Management Pte Chief Executive Officer Tan Chong Koay and the fund manager’s Malaysian unit for manipulating the shares of a water treatment company.
Tan and Pheim Asset Management Sdn. bought almost 90 percent of the traded shares of Singapore-based United Envirotech Ltd. from Dec. 29 to Dec. 31, 2004, according to a statement presented to Singapore’s High Court by the Monetary Authority of Singapore’s lawyers Drew & Napier LLC yesterday.
Read More
Related:
Landmark case in Singapore on rigging the market - The Malaysian Insider
Singapore to Start Building LNG Terminal in January
Bloomberg.com, 28 Aug 2009
Aug. 28 (Bloomberg) -- Singapore will start building a S$1 billion to S$1.5 billion ($1 billion) liquefied natural gas terminal in January, the Business Times reported, citing the Energy Market Authority.
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Aug. 28 (Bloomberg) -- Singapore will start building a S$1 billion to S$1.5 billion ($1 billion) liquefied natural gas terminal in January, the Business Times reported, citing the Energy Market Authority.
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Singapore transfers technology to earthquake-prone regions in China
People's Daily Online, 28 Aug 2009
Singapore's Nanyang Technological University (NTU) and Temasek Foundation are working together to bring earthquake resistance technology to China's earthquake-prone regions.
According to a statement by the NTU on Friday, the program aims to promote safer construction practices, achieve transfer of technology, and enhance the skills of those involved in China construction industry.
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Singapore's Nanyang Technological University (NTU) and Temasek Foundation are working together to bring earthquake resistance technology to China's earthquake-prone regions.
According to a statement by the NTU on Friday, the program aims to promote safer construction practices, achieve transfer of technology, and enhance the skills of those involved in China construction industry.
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Singapore Aims to Overtake South Korea as Fiber Broadband Leader
PRWire, 28 Aug 2009
Boston, MA, August 28, 2009 --(PR.com)-- “The future of broadband is clearly in fiber,” according to analyst Ben Piper, Director of the Strategy Analytics Multiplay Market Dynamics service. “The existing Telco xDSL infrastructure is reaching the end of its useful life—soon it will no longer be able to support increasingly bandwidth-heavy consumer applications.”
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Boston, MA, August 28, 2009 --(PR.com)-- “The future of broadband is clearly in fiber,” according to analyst Ben Piper, Director of the Strategy Analytics Multiplay Market Dynamics service. “The existing Telco xDSL infrastructure is reaching the end of its useful life—soon it will no longer be able to support increasingly bandwidth-heavy consumer applications.”
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Singapore Airlines Remains Atop the List in a Tough Year
The Wall Street Journal, 28 Aug 2009
It's been one of the toughest years yet for Singapore Airlines. The company reported a net loss of 307.1 million Singapore dollars (US$212.5 million) for the quarter ended June 30, compared with a net profit of S$358.6 million a year earlier -- the airline's first quarterly loss in six years. Singapore Airlines carried 19% fewer passengers in June 2009 compared with the same month last year; it also carried 19% less freight. Flight schedules have been cut and some routes have been axed. The hours and pay of staff and management have been trimmed.
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It's been one of the toughest years yet for Singapore Airlines. The company reported a net loss of 307.1 million Singapore dollars (US$212.5 million) for the quarter ended June 30, compared with a net profit of S$358.6 million a year earlier -- the airline's first quarterly loss in six years. Singapore Airlines carried 19% fewer passengers in June 2009 compared with the same month last year; it also carried 19% less freight. Flight schedules have been cut and some routes have been axed. The hours and pay of staff and management have been trimmed.
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Singapore proposes recommendations to recognize servicemen's contributions
Xinhua, 28 Aug 2009
SINGAPORE, Aug. 27 (Xinhua) -- Singapore is setting up a committee to recognize the contributions of national servicemen (NSmen), the country's Ministry of Defense said on Thursday.
Some 18 recommendations were proposed to recognize the contributions of these NSmen.
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SINGAPORE, Aug. 27 (Xinhua) -- Singapore is setting up a committee to recognize the contributions of national servicemen (NSmen), the country's Ministry of Defense said on Thursday.
Some 18 recommendations were proposed to recognize the contributions of these NSmen.
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Singapore grants research projects on sustainable development
Xinhua, 28 Aug 2009
SINGAPORE, Aug. 28 (Xinhua) -- Singapore has granted 27.5 million Singapore dollars (19.1 million U.S. dollars) in research funding in sustainable development, Singapore's Agency for Science, Technology and Research (A*STAR) said on Friday.
The grants will be awarded to 28 projects in four key areas of sustainable development, namely, carbon capture and utilization, bioenergy and biofuels, sustainable construction, sustainable materials.
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SINGAPORE, Aug. 28 (Xinhua) -- Singapore has granted 27.5 million Singapore dollars (19.1 million U.S. dollars) in research funding in sustainable development, Singapore's Agency for Science, Technology and Research (A*STAR) said on Friday.
The grants will be awarded to 28 projects in four key areas of sustainable development, namely, carbon capture and utilization, bioenergy and biofuels, sustainable construction, sustainable materials.
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Thursday, August 27, 2009
Singapore hotel's revenue per available room fell 31.7% in H1 09
Hotel News Now, 27 Aug 2009
STR Global data shows that in the first six months of the year RevPAR has declined 31.7 percent, which has been led by a decline in ADR of 20.1 percent, seeing average room rates decrease from SGD 313 in the first half of 2008 to SGD 250 in the first half of 2009. Occupancy has declined from 79 percent to 67 percent.
Year-to-date June tourism arrivals to Singapore recorded a decline of 11.5 percent, however, this trend is expected to ease in the second half. An analysis of the data shows us tourism arrivals in the first half of 2008 increased 3.3 percent, and it wasn’t until June 2008 that a negative trend began. Visitor arrivals in the second half of 2008 declined 6.2 percent.
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STR Global data shows that in the first six months of the year RevPAR has declined 31.7 percent, which has been led by a decline in ADR of 20.1 percent, seeing average room rates decrease from SGD 313 in the first half of 2008 to SGD 250 in the first half of 2009. Occupancy has declined from 79 percent to 67 percent.
Year-to-date June tourism arrivals to Singapore recorded a decline of 11.5 percent, however, this trend is expected to ease in the second half. An analysis of the data shows us tourism arrivals in the first half of 2008 increased 3.3 percent, and it wasn’t until June 2008 that a negative trend began. Visitor arrivals in the second half of 2008 declined 6.2 percent.
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Singapore faces a 'silver tsunami'
Asia Times Online, 27 Aug 2009
SINGAPORE - In a departure from the usual state-sponsored message urging Singaporean couples to have more children, this year's National Day rally addressed the island state's rapidly graying population. As rising health and living costs emerge as a threat to social stability and economic growth, a dramatic demographic shift is driving the government to re-examine its past anti-welfare stance.
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SINGAPORE - In a departure from the usual state-sponsored message urging Singaporean couples to have more children, this year's National Day rally addressed the island state's rapidly graying population. As rising health and living costs emerge as a threat to social stability and economic growth, a dramatic demographic shift is driving the government to re-examine its past anti-welfare stance.
Read More
Singapore's overall business receipts drop 4.6% in Q2
Xinhua, 27 Aug 2009
SINGAPORE, Aug. 27 (Xinhua) -- Singapore's overall business receipts declined by 4.6 percent in the second quarter over the same period last year, government data showed on Thursday.
According to figures released by the Singapore Department of Statistics, compared to the second quarter in 2008, business receipts of transport and storage services decreased by 16.4 percent while turnover of business services declined by 7.0 percent.
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SINGAPORE, Aug. 27 (Xinhua) -- Singapore's overall business receipts declined by 4.6 percent in the second quarter over the same period last year, government data showed on Thursday.
According to figures released by the Singapore Department of Statistics, compared to the second quarter in 2008, business receipts of transport and storage services decreased by 16.4 percent while turnover of business services declined by 7.0 percent.
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Public, private co-op transforms Singapore into distinctive global city
People's Daily Online, 27 Aug 2009
There has been a close symbiotic relationship between government and the private sector in building a place where Singaporeans can work, live and play, a senior Singapore official said on Thursday.
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There has been a close symbiotic relationship between government and the private sector in building a place where Singaporeans can work, live and play, a senior Singapore official said on Thursday.
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GIC's Australia property trust GPT posted A$1.2 billion losses in H1
Reuters, 26 Aug 2009
SYDNEY, Aug 27 (Reuters) - Australian property trust GPT Group (GPT.AX) posted a half-year net loss of A$1.2 billion ($992.5 million) on Thursday, after large asset writedowns, but it said pressure on valuations was beginning to ease.
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SYDNEY, Aug 27 (Reuters) - Australian property trust GPT Group (GPT.AX) posted a half-year net loss of A$1.2 billion ($992.5 million) on Thursday, after large asset writedowns, but it said pressure on valuations was beginning to ease.
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Temasek seeks more Asian exposure
Financial Standard, 26 Aug 2009
Australian fund managers with a focus on Asia should pay attention to the $160 billion Temasek Holdings, which recently flagged a new charter that would open its mandate book to more Asian and emerging markets fund managers.
The Singaporean sovereign wealth fund has updated its charter as part of its 35th anniversary, which includes a renewed focus on Asia and other developing regions.
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Australian fund managers with a focus on Asia should pay attention to the $160 billion Temasek Holdings, which recently flagged a new charter that would open its mandate book to more Asian and emerging markets fund managers.
The Singaporean sovereign wealth fund has updated its charter as part of its 35th anniversary, which includes a renewed focus on Asia and other developing regions.
Read More
Singapore Real Estate Sales On Record Pace
Nuwire Investor, 26 Aug 2009
Residential property sales in Singapore have soared, reaching a record high since the country's Urban Redevelopment Authority began recording figures.
The latest data shows there were 2,767 real estate units sold in July this year, the highest monthly sales volume since records began in 2007. This followed another record month in June when 1,825 units were sold.
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Residential property sales in Singapore have soared, reaching a record high since the country's Urban Redevelopment Authority began recording figures.
The latest data shows there were 2,767 real estate units sold in July this year, the highest monthly sales volume since records began in 2007. This followed another record month in June when 1,825 units were sold.
Read More
Fifth Singapore water reuse plant starts up
Water Technology Online, 26 Aug 2009
SINGAPORE — The Sembcorp Changi NEWater Plant (SCNP), soon to be one of the world’s largest water recycling plants, has started its Stage 1 operations here, according to an August 26 press release from Black & Veatch, the US-based company that has done design engineering, construction support and commissioning services for the plant.
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SINGAPORE — The Sembcorp Changi NEWater Plant (SCNP), soon to be one of the world’s largest water recycling plants, has started its Stage 1 operations here, according to an August 26 press release from Black & Veatch, the US-based company that has done design engineering, construction support and commissioning services for the plant.
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Singapore Resort Openings to create opportunities for Foreign Investors, Entrepreneurs and Professionals
PRWeb, 26 Aug 2009
Singapore (PRWEB) August 26, 2009 -- Based on past statistics from the gaming industry, GuideMeSingapore.com predicts that a significant number of jobs and new business ventures will be created in tourism-related industries over the next two years as a result of the new gaming resorts that are set to open in Singapore.
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Singapore (PRWEB) August 26, 2009 -- Based on past statistics from the gaming industry, GuideMeSingapore.com predicts that a significant number of jobs and new business ventures will be created in tourism-related industries over the next two years as a result of the new gaming resorts that are set to open in Singapore.
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Wednesday, August 26, 2009
Dr Mahathir: Lee Kuan Yew Did Not Threaten War
Bernama.com, 26 Aug 2009
KUALA LUMPUR, Aug 26 (Bernama) -- Former prime minister Tun Dr Mahathir Mohamad has admitted that he had persuaded Tan Sri Muhyiddin Yassin to supply water to Singapore when the latter was the Johor menteri besar.
"Tan Sri Muhyiddin spoke the truth about my persuading him to supply water to Singapore but Lee Kuan Yew did not threaten to go to war if we did not supply water. If he had done that, I think I would have stopped any further supply," Dr Mahathir said in an article posted in his blog on Wednesday.
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KUALA LUMPUR, Aug 26 (Bernama) -- Former prime minister Tun Dr Mahathir Mohamad has admitted that he had persuaded Tan Sri Muhyiddin Yassin to supply water to Singapore when the latter was the Johor menteri besar.
"Tan Sri Muhyiddin spoke the truth about my persuading him to supply water to Singapore but Lee Kuan Yew did not threaten to go to war if we did not supply water. If he had done that, I think I would have stopped any further supply," Dr Mahathir said in an article posted in his blog on Wednesday.
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Singapore’s Production Unexpectedly Climbs on Drugs
Bloomberg.com, 26 Aug 2009
Aug. 26 (Bloomberg) -- Singapore’s industrial production unexpectedly surged the most in 16 months in July as pharmaceuticals output jumped and the electronics slump eased, heralding a sustained economic recovery.
Manufacturing, which accounts for about a quarter of Singapore’s economy, rose 12.4 percent from a year earlier following a revised 9 percent decline in June, the Economic Development Board said today.
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Related:
Singapore production climbs unexpectedly on drugs - BusinessMirror
Singapore manufacturing jumps 12 percent in July - BusinessWeek
‘Spectacular’ jump in Singapore manufacturing - Business Times (Singapore)
Aug. 26 (Bloomberg) -- Singapore’s industrial production unexpectedly surged the most in 16 months in July as pharmaceuticals output jumped and the electronics slump eased, heralding a sustained economic recovery.
Manufacturing, which accounts for about a quarter of Singapore’s economy, rose 12.4 percent from a year earlier following a revised 9 percent decline in June, the Economic Development Board said today.
Read More
Related:
Singapore production climbs unexpectedly on drugs - BusinessMirror
Singapore manufacturing jumps 12 percent in July - BusinessWeek
‘Spectacular’ jump in Singapore manufacturing - Business Times (Singapore)
Lim Swee Say: Singapore needs to make structural changes for economic recovery
Xinhua, 26 Aug 2009
SINGAPORE, Aug. 26 (Xinhua) -- Singapore must go on to implement structural changes so as to bring about economic recovery, a senior Singaporean official said on Wednesday.
According to local TV broadcaster Channel News Asia, Singapore's National Trades Union Congress (NTUC) Secretary-General Lim Swee Say said that Singapore has done well under the first phase of the economy recovery campaign, but there is still more work to be done.
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SINGAPORE, Aug. 26 (Xinhua) -- Singapore must go on to implement structural changes so as to bring about economic recovery, a senior Singaporean official said on Wednesday.
According to local TV broadcaster Channel News Asia, Singapore's National Trades Union Congress (NTUC) Secretary-General Lim Swee Say said that Singapore has done well under the first phase of the economy recovery campaign, but there is still more work to be done.
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Singaporean navy ship visits Da Nang
VOVNews.vn, 26 Aug 2009
The Singaporean navy ship RSS Endeavour docked at Tien Sa port in the central province of Da Nang, beginning a five-day friendly visit to the city.
During their stay, the commander, officers and crew members will pay courtesy visits to the municipal leaders, the Command of Military Zone No5 and Navy Region C.
They will play friendly volleyball games against a Navy Region C team and visit several tourist sites in the city.
Link
The Singaporean navy ship RSS Endeavour docked at Tien Sa port in the central province of Da Nang, beginning a five-day friendly visit to the city.
During their stay, the commander, officers and crew members will pay courtesy visits to the municipal leaders, the Command of Military Zone No5 and Navy Region C.
They will play friendly volleyball games against a Navy Region C team and visit several tourist sites in the city.
Link
Singapore launches competition to nurture youth entrepreneurs
People's Daily Online, 26 Aug 2009
Singapore launched on Wednesday a business challenge competition aimed at promoting and nurturing youth entrepreneurs.
Jointly organized by Nanyang Technological University (NTU) and SPRING Singapore, Singapore's enterprise development agency, the competition, named "ideas inc." will bring together funding support and expert mentorship for aspiring entrepreneurs, only for those between 18 and 26 years of age.
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Singapore launched on Wednesday a business challenge competition aimed at promoting and nurturing youth entrepreneurs.
Jointly organized by Nanyang Technological University (NTU) and SPRING Singapore, Singapore's enterprise development agency, the competition, named "ideas inc." will bring together funding support and expert mentorship for aspiring entrepreneurs, only for those between 18 and 26 years of age.
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Singapore visitor numbers fell at slower pace in July
The China Post, 26 Aug 2009
SINGAPORE -- Visitor arrivals to Singapore fell at a slower pace in July, partly due to attractive holiday packages and promotions as the tourism sector tries to recover from the global economic downturn.
The Singapore Tourism Board (STB) said the number of visitors arriving in the city—state dropped 4.5 per cent to 881,000 in July, its smallest year—on—year decline this year.
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Related:
July witnesses plunge in Singapore visitors - TopNews
SINGAPORE -- Visitor arrivals to Singapore fell at a slower pace in July, partly due to attractive holiday packages and promotions as the tourism sector tries to recover from the global economic downturn.
The Singapore Tourism Board (STB) said the number of visitors arriving in the city—state dropped 4.5 per cent to 881,000 in July, its smallest year—on—year decline this year.
Read More
Related:
July witnesses plunge in Singapore visitors - TopNews
Singapore & Myanmar Bury Democracy, Grow Orchids
Xinhua, 26 Aug 2009
ANGON, Aug. 26 (Xinhua) -- Myanmar and Singaporean experts will conduct joint research on orchid at the Hukaung Valley reserve forest in Myanmar's northernmost Kachin State in April next year, forestry officials said on Thursday.
The research will be the third of its kind after that at Naungmon in 2007 and at Phonkanyarzi Mountain in March 2009 conducted by experts from the Myanmar Horticulture Association and Horticulture Research Committee and Singapore.
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ANGON, Aug. 26 (Xinhua) -- Myanmar and Singaporean experts will conduct joint research on orchid at the Hukaung Valley reserve forest in Myanmar's northernmost Kachin State in April next year, forestry officials said on Thursday.
The research will be the third of its kind after that at Naungmon in 2007 and at Phonkanyarzi Mountain in March 2009 conducted by experts from the Myanmar Horticulture Association and Horticulture Research Committee and Singapore.
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S'pore Govt Rebut Wall Street Journal's Article
Letter
The Wall Street Journal, 25 Aug 2009
Your editorial "Temasek and Transparency III" (Review & Outlook, Aug. 20) makes unfounded claims on disclosure regarding Temasek.
The government takes a principled approach in what it discloses on Temasek, not merely "what it deems acceptable." It discloses all relevant information that Singaporeans need to judge Temasek's performance as a long-term investor, favorable or otherwise. But it does not believe that either government or parliament should become engaged in Temasek's investment strategies or internal governance. This would politicize Temasek's operations and prevent it from managing its portfolio professionally and sustaining good, long-term performance.
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The Wall Street Journal, 25 Aug 2009
Your editorial "Temasek and Transparency III" (Review & Outlook, Aug. 20) makes unfounded claims on disclosure regarding Temasek.
The government takes a principled approach in what it discloses on Temasek, not merely "what it deems acceptable." It discloses all relevant information that Singaporeans need to judge Temasek's performance as a long-term investor, favorable or otherwise. But it does not believe that either government or parliament should become engaged in Temasek's investment strategies or internal governance. This would politicize Temasek's operations and prevent it from managing its portfolio professionally and sustaining good, long-term performance.
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On the march to do business in Myanmar
Asia Times Online, 26 Aug 2009
Controversial enterprise
Two other top businessmen with top connections to the regime are Lo Hsing Han and his son Steven Law, also known as Tun Myint Naing. Together they run Asia World Ltd, Myanmar's biggest and most diversified conglomerate with interests in industrial development, construction, transportation, import-export and a chain of local supermarkets. Ten more companies are owned under the group in Singapore by Law's wife, Cecilia Ng.
Both Lo Hsing Han and Steven Law have been on a US visa blacklist since 1996 for suspected drug trafficking activities. In February 2008, they were also put on the Treasury Department's sanctions list, along with Asia World Company and subsidiaries Asia World Co Ltd, Asia World Port Management, Asia World Industries Ltd and Asia World Light Ltd for their financial connections to the regime.
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Controversial enterprise
Two other top businessmen with top connections to the regime are Lo Hsing Han and his son Steven Law, also known as Tun Myint Naing. Together they run Asia World Ltd, Myanmar's biggest and most diversified conglomerate with interests in industrial development, construction, transportation, import-export and a chain of local supermarkets. Ten more companies are owned under the group in Singapore by Law's wife, Cecilia Ng.
Both Lo Hsing Han and Steven Law have been on a US visa blacklist since 1996 for suspected drug trafficking activities. In February 2008, they were also put on the Treasury Department's sanctions list, along with Asia World Company and subsidiaries Asia World Co Ltd, Asia World Port Management, Asia World Industries Ltd and Asia World Light Ltd for their financial connections to the regime.
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Singapore, Netherlands Amend Taxation Pact
Nasdaq
SINGAPORE -(Dow Jones)- The governments of Singapore and the Netherlands have amended their bilateral tax agreement to enhance cooperation in information exchange, Singapore's Ministry of Finance said Wednesday.
The governments also said they have agreed to renegotiate double taxation "in the near future," without providing further details.
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SINGAPORE -(Dow Jones)- The governments of Singapore and the Netherlands have amended their bilateral tax agreement to enhance cooperation in information exchange, Singapore's Ministry of Finance said Wednesday.
The governments also said they have agreed to renegotiate double taxation "in the near future," without providing further details.
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Low bookings force hotels to give discounts for Singapore formula week
e-Travel Blackboard, 26 Aug 2008
DISCOUNTS of up to 50 percent are available on a wide choice of hotels during Singapore’s Formula One race week in September.
The rates can be used between September 18 and 27 and apply to three, four and five star properties now offering prices ranging from $92 upwards.
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DISCOUNTS of up to 50 percent are available on a wide choice of hotels during Singapore’s Formula One race week in September.
The rates can be used between September 18 and 27 and apply to three, four and five star properties now offering prices ranging from $92 upwards.
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Temasek Steps Back From Singapore Inc.
The Wall Street Journal, 26 Aug 2009
SINGAPORE -- Temasek Holdings Pte. Ltd. announced revisions to its charter in an effort to distance its mission from the interests of Singapore Inc.
The revised charter defines Singapore's Temasek as an investment company, managed on commercial principles to create and deliver sustainable long-term value for its stakeholders.
It dropped a reference from its previous charter, published in 2002, that said Temasek was a company that manages the government's investments in companies for the long-term benefit of Singapore.
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SINGAPORE -- Temasek Holdings Pte. Ltd. announced revisions to its charter in an effort to distance its mission from the interests of Singapore Inc.
The revised charter defines Singapore's Temasek as an investment company, managed on commercial principles to create and deliver sustainable long-term value for its stakeholders.
It dropped a reference from its previous charter, published in 2002, that said Temasek was a company that manages the government's investments in companies for the long-term benefit of Singapore.
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Temasek to Work Closely With Companies in Portfolio
Bloomberg.com, 25 Aug 2009
Aug. 25 (Bloomberg) -- Temasek Holdings Pte, Singapore’s state investment firm, said it plans to work closely with companies in which it owns stakes as overseas holdings increase, in the first change to its charter in seven years.
Temasek will focus on “sustainable returns by engaging with the boards and management of our portfolio companies,” Chairman S. Dhanabalan said at a briefing in Singapore today. Temasek is looking for a successor to Chief Executive Officer Ho Ching after Charles “Chip” Goodyear’s appointment was scrapped over differences in investment strategy. Assets of Temasek slumped by more than S$40 billion ($27 billion) last fiscal year.
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Aug. 25 (Bloomberg) -- Temasek Holdings Pte, Singapore’s state investment firm, said it plans to work closely with companies in which it owns stakes as overseas holdings increase, in the first change to its charter in seven years.
Temasek will focus on “sustainable returns by engaging with the boards and management of our portfolio companies,” Chairman S. Dhanabalan said at a briefing in Singapore today. Temasek is looking for a successor to Chief Executive Officer Ho Ching after Charles “Chip” Goodyear’s appointment was scrapped over differences in investment strategy. Assets of Temasek slumped by more than S$40 billion ($27 billion) last fiscal year.
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Temasek looks at listing some of its holdings
Financial Times, 25 Aug 2009
Temasek Holdings, the Singapore state investment company, said on Tuesday it would be prepared to list some of its biggest holdings – including port operator PSA and Singapore Power – if future conditions warrant such a move.
“There is a right time for them to be listed,” said Ho Ching, the Temasek chief executive, as she unveiled a revised charter outlining the group’s future goals and relationship to the Singapore government.
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Related:
Temasek eyes listing prospects - Financial Times
Temasek Holdings, the Singapore state investment company, said on Tuesday it would be prepared to list some of its biggest holdings – including port operator PSA and Singapore Power – if future conditions warrant such a move.
“There is a right time for them to be listed,” said Ho Ching, the Temasek chief executive, as she unveiled a revised charter outlining the group’s future goals and relationship to the Singapore government.
Read More
Related:
Temasek eyes listing prospects - Financial Times
Property sales soar in Singapore
PropertyWire, 25 Aug 2009
Residential property sales in Singapore have soared, reaching a record high since the country's Urban Redevelopment Authority began recording figures.
The latest data shows there were 2,767 real estate units sold in July this year, the highest monthly sales volume since records began in 2007. This followed another record month in June when 1,825 units were sold.
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Residential property sales in Singapore have soared, reaching a record high since the country's Urban Redevelopment Authority began recording figures.
The latest data shows there were 2,767 real estate units sold in July this year, the highest monthly sales volume since records began in 2007. This followed another record month in June when 1,825 units were sold.
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Tuesday, August 25, 2009
Singapore has the lowest wages and domestic purchasing power among the Asian Tigers
Commentary
Temasek Review, 25 Aug 2009
Low relative purchasing power of wages
This is calculated in the UBS study by using a specific, highly uniform product that is available everywhere in the same quality, and then calculate how long an employee has to work to afford it in each city.
For the purpose of this article, the iPod nano (with 8 GB of storage) is used.
An average wage earner is Zurich and New York can buy a nano from an Apple store after nine hours of work. A Singapore worker will have to work three times longer after 27.5 hours.
The figures for selected Asia-Pacific cities are as follows: Sydney (9.5hrs), Tokyo (12hrs), Auckland (16hrs), Hong Kong (19hrs), Seoul (22hrs) and Taipei (23.5hrs). Again we came in last among the 4 Asian Tigers.
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Temasek Review, 25 Aug 2009
Low relative purchasing power of wages
This is calculated in the UBS study by using a specific, highly uniform product that is available everywhere in the same quality, and then calculate how long an employee has to work to afford it in each city.
For the purpose of this article, the iPod nano (with 8 GB of storage) is used.
An average wage earner is Zurich and New York can buy a nano from an Apple store after nine hours of work. A Singapore worker will have to work three times longer after 27.5 hours.
The figures for selected Asia-Pacific cities are as follows: Sydney (9.5hrs), Tokyo (12hrs), Auckland (16hrs), Hong Kong (19hrs), Seoul (22hrs) and Taipei (23.5hrs). Again we came in last among the 4 Asian Tigers.
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Temasek's revised charter downplays Singapore links
Reuters, 25 Aug 2009
SINGAPORE, Aug 25 (Reuters) - Singapore state investor Temasek Holdings [TEM.UL] on Tuesday issued an updated charter that described the fund as an investment firm managed on commercial principles, dropping a reference to its role to improve the city-state's economic base.
"We are operating more overseas, so we like people to have a better understanding of us," Chairman S Dhanabalan said at a media briefing to present the new version of the Temasek Charter, which outlines the firm's goals for the future and its relationship with the Singapore government.
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Related:
Singapore's Temasek issues new charter as overseas investment rises - Earth Times
SINGAPORE, Aug 25 (Reuters) - Singapore state investor Temasek Holdings [TEM.UL] on Tuesday issued an updated charter that described the fund as an investment firm managed on commercial principles, dropping a reference to its role to improve the city-state's economic base.
"We are operating more overseas, so we like people to have a better understanding of us," Chairman S Dhanabalan said at a media briefing to present the new version of the Temasek Charter, which outlines the firm's goals for the future and its relationship with the Singapore government.
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Related:
Singapore's Temasek issues new charter as overseas investment rises - Earth Times
Temasek CEO: Open to Investing in Western Banks
The Wall Street Journal, 25 Aug 2009
SINGAPORE -- Singapore state-owned investment company Temasek Holdings Pte Ltd. remains open to investing in Western banks and may divest from some Singapore companies, senior executives said Tuesday.
"If opportunities come, if it looks attractive, yes," Temasek Chief Executive Ho Ching told reporters in a briefing when asked whether the investment company is still interested in banks in the West.
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Related:
Temasek says not put off by Western bank losses - AFP
SINGAPORE -- Singapore state-owned investment company Temasek Holdings Pte Ltd. remains open to investing in Western banks and may divest from some Singapore companies, senior executives said Tuesday.
"If opportunities come, if it looks attractive, yes," Temasek Chief Executive Ho Ching told reporters in a briefing when asked whether the investment company is still interested in banks in the West.
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Related:
Temasek says not put off by Western bank losses - AFP
Temasek to Be Active Investor as It Expands Abroad
Bloomberg.com, 25 Aug 2009
Aug. 25 (Bloomberg) -- Temasek Holdings Pte, Singapore’s state-owned investment fund, said it will focus on being an active investor as it increases holdings in overseas companies.
The fund is reviewing the charter, first published in July 2002, on its role in portfolio companies after having bought stakes in Merrill Lynch & Co., acquired by Bank of America Corp. this year, and Barclays Plc in the last few years.
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Aug. 25 (Bloomberg) -- Temasek Holdings Pte, Singapore’s state-owned investment fund, said it will focus on being an active investor as it increases holdings in overseas companies.
The fund is reviewing the charter, first published in July 2002, on its role in portfolio companies after having bought stakes in Merrill Lynch & Co., acquired by Bank of America Corp. this year, and Barclays Plc in the last few years.
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More passport cheats being detected, caught in Singapore
The China Post, 25 Aug 2009
As travel documents get harder to fake, a different type of passport fraud has surfaced in Singapore.
It involves foreigners who come to work here without legal papers and then want to get out of the country without the long arm of the law catching up with them.
The racket involves a would-be illegal immigrant, who enters the country on his own passport, and then quickly sells it to someone else who can use it to leave the country.
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As travel documents get harder to fake, a different type of passport fraud has surfaced in Singapore.
It involves foreigners who come to work here without legal papers and then want to get out of the country without the long arm of the law catching up with them.
The racket involves a would-be illegal immigrant, who enters the country on his own passport, and then quickly sells it to someone else who can use it to leave the country.
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Singapore demand and phony contracts sustain booming Mekong sand exports
VietNamNet Bridge, 24 Aug 2009
VietNamNet Bridge – The volume of sand exported to Singapore from Vietnam’s Mekong Delta in the first half of 2009 was equivalent to the total exports of the last ten years. Ironically, most of it is shipped under falsely backdated contracts.
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VietNamNet Bridge – The volume of sand exported to Singapore from Vietnam’s Mekong Delta in the first half of 2009 was equivalent to the total exports of the last ten years. Ironically, most of it is shipped under falsely backdated contracts.
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Thai Shin says Temasek stake sale depends on market
Reuters, 24 Aug 2009
BANGKOK, Aug 24 (Reuters) - A plan by Singapore's Temasek Holdings [TEM.UL] to sell its stake in Thailand's leading telecoms group, Shin Corp SHIN.BK, will depend on market conditions, an official at the Thai firm said on Monday.
The plan is followed closely by investors as it is likely to increase the volume of Shin shares trading in the market. Some analysts see the stock as a good proxy for Thailand's telecoms industry but say the low free float is a trading risk.
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BANGKOK, Aug 24 (Reuters) - A plan by Singapore's Temasek Holdings [TEM.UL] to sell its stake in Thailand's leading telecoms group, Shin Corp SHIN.BK, will depend on market conditions, an official at the Thai firm said on Monday.
The plan is followed closely by investors as it is likely to increase the volume of Shin shares trading in the market. Some analysts see the stock as a good proxy for Thailand's telecoms industry but say the low free float is a trading risk.
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No 'three Strikes' Law Planned for Singapore, Agency Says
PCWorld
There are no immediate plans to propose a law that would cut off Internet access for Singaporean users who receive repeated warnings from their Internet service providers for downloading pirated music and videos, according to the Intellectual Property Office of Singapore (IPOS).
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There are no immediate plans to propose a law that would cut off Internet access for Singaporean users who receive repeated warnings from their Internet service providers for downloading pirated music and videos, according to the Intellectual Property Office of Singapore (IPOS).
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Singapore Defence report: defence spending will amount to US$11.4bn, or 6% of GDP, in 2009
PR-Inside.com, 24 Aug 2009
Singapore, with its small population base, has concentrated spending on sophisticated and superior weapons systems. As a consequence, it has one of the largest defence budgets in the Asia Pacific region – over 4% of GDP. It has maintained high levels of spending despite being the first Asian economy to slip into recession, which is expected to worsen over 2009. The principal recent development affecting the future of Singapore’s defence spending is the recent rapid deterioration in economic conditions.
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Singapore, with its small population base, has concentrated spending on sophisticated and superior weapons systems. As a consequence, it has one of the largest defence budgets in the Asia Pacific region – over 4% of GDP. It has maintained high levels of spending despite being the first Asian economy to slip into recession, which is expected to worsen over 2009. The principal recent development affecting the future of Singapore’s defence spending is the recent rapid deterioration in economic conditions.
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Singapore electricity generation is forecast to increase by 38.5% during the period 2008 to 2018
PR-Inside.com, 24 Aug 2009
The new Singapore Power Report forecasts that the country will account for just 0.48% of Asia Pacific regional power generation by 2013, with an increasing generation surplus that provides a theoretical export capability. BMI’s Asia Pacific power generation assumption for 2008 is 7,093 terawatt hours (TWh), representing an increase of 3.2% over the previous year. We are forecasting an increase in regional generation to 9,099TWh by 2013, representing a rise of 28.3%.
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The new Singapore Power Report forecasts that the country will account for just 0.48% of Asia Pacific regional power generation by 2013, with an increasing generation surplus that provides a theoretical export capability. BMI’s Asia Pacific power generation assumption for 2008 is 7,093 terawatt hours (TWh), representing an increase of 3.2% over the previous year. We are forecasting an increase in regional generation to 9,099TWh by 2013, representing a rise of 28.3%.
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Singapore signs tax deal with Britain
Forbes.com, 24 Aug 2009
SINGAPORE, Aug 24 (Reuters) - Singapore and Britain signed a new double taxation treaty on Monday, bringing the city-state towards meeting OECD standards on exchange of information, Singapore's Finance Ministry said.
The deal marked the third agreement Singapore has signed that features the new internationally agreed standard for the exchange of information upon request to chase tax evaders and follows agreements with New Zealand and Belgium.
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SINGAPORE, Aug 24 (Reuters) - Singapore and Britain signed a new double taxation treaty on Monday, bringing the city-state towards meeting OECD standards on exchange of information, Singapore's Finance Ministry said.
The deal marked the third agreement Singapore has signed that features the new internationally agreed standard for the exchange of information upon request to chase tax evaders and follows agreements with New Zealand and Belgium.
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Indonesia police dismiss Obama plot report
AFP
JAKARTA — Indonesian police on Monday dismissed a media report that Islamist extremists were planning to assassinate US President Barack Obama when he visits the country.
National police chief Bambang Hendarso Danuri said analyst Dynno Chressbon, the Indonesian source quoted in the Western news agency report, had no right to make what he described as unsubstantiated comments.
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Related:
Singapore unfazed by APEC attack 'rumour' - PerthNow
Singapore shoots down "rumor" of APEC attack plot - Reuters
JAKARTA — Indonesian police on Monday dismissed a media report that Islamist extremists were planning to assassinate US President Barack Obama when he visits the country.
National police chief Bambang Hendarso Danuri said analyst Dynno Chressbon, the Indonesian source quoted in the Western news agency report, had no right to make what he described as unsubstantiated comments.
Read More
Related:
Singapore unfazed by APEC attack 'rumour' - PerthNow
Singapore shoots down "rumor" of APEC attack plot - Reuters
Singapore Consumer Prices Fall Fourth Month in a Row
Bloomberg.com, 24 Aug 2009
Aug. 24 (Bloomberg) -- Singapore’s consumer prices declined for a fourth straight month in July amid lower housing and transportation costs.
The consumer price index fell 0.5 percent from a year earlier, matching June’s retreat, the Department of Statistics said in a statement today. That compares with the median forecast for a 0.7 percent drop in a Bloomberg News survey of 10 economists. Prices rose 1.1 percent from June, without adjusting for seasonal factors.
Read More
Related:
Singapore Consumer Prices Decline For Fourth Straight Month - IBTimes.co.uk
Singapore Consumer Prices Continue To Fall In July - RTTNews
Singapore Consumer Prices Continue To Fall In July - INO.com
Aug. 24 (Bloomberg) -- Singapore’s consumer prices declined for a fourth straight month in July amid lower housing and transportation costs.
The consumer price index fell 0.5 percent from a year earlier, matching June’s retreat, the Department of Statistics said in a statement today. That compares with the median forecast for a 0.7 percent drop in a Bloomberg News survey of 10 economists. Prices rose 1.1 percent from June, without adjusting for seasonal factors.
Read More
Related:
Singapore Consumer Prices Decline For Fourth Straight Month - IBTimes.co.uk
Singapore Consumer Prices Continue To Fall In July - RTTNews
Singapore Consumer Prices Continue To Fall In July - INO.com
Monday, August 24, 2009
Temasek Sold Off Stakes In Vical and Equinix
Filings with the US Securities & Exchange Commission as at 13 Aug 2009 shows that Temasek had sold off its' entire stakes in Vical Inc and Equinix Inc. It is now left with Global Crossing in the US stock exchange. Vical Inc is in the biomedical industry, while Equinix is in data managment.
Link
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Terrorist plot to slay Obama made mid last year: intelligence
Xinhua, 24 Aug 2009
JAKARTA, Aug. 24 (Xinhua) -- The terrorist group's plan to slay the United States President Barrack Hussein Obama during his Indonesian visit was initiated since mid last year, the Kompas.com news portal reported here on Monday.
Indonesian terrorist expert Dynno Chressbon said that the plot to kill Obama was made by the terrorist group's leader Noordin M.Top and his Singaporean Jemaah Islamiyah (JI) colleague Mas Slamat Kastari in Surakarta, Central Javasince when Obama was campaigning to run in the United States presidency in July last year.
Read More
Related:
Top aims to slay U.S. President Obama in his upcoming Indonesian visit: analyst - People's Daily Online
Indonesia militants plotted Obama attack: expert - Reuters
Singapore shoots down "rumor" of APEC attack plot - Reuters
JAKARTA, Aug. 24 (Xinhua) -- The terrorist group's plan to slay the United States President Barrack Hussein Obama during his Indonesian visit was initiated since mid last year, the Kompas.com news portal reported here on Monday.
Indonesian terrorist expert Dynno Chressbon said that the plot to kill Obama was made by the terrorist group's leader Noordin M.Top and his Singaporean Jemaah Islamiyah (JI) colleague Mas Slamat Kastari in Surakarta, Central Javasince when Obama was campaigning to run in the United States presidency in July last year.
Read More
Related:
Top aims to slay U.S. President Obama in his upcoming Indonesian visit: analyst - People's Daily Online
Indonesia militants plotted Obama attack: expert - Reuters
Singapore shoots down "rumor" of APEC attack plot - Reuters
Singapore Tourism Market in decline
PR-Inside.com, 24 Aug 2009
A Difficult Time Ahead Singapore’s tourism industry has experienced a difficult start to 2009. The first three months of the year saw double-digit declines in arrivals figures on a year-on-year (y-o-y) basis. April figures showed a slight improvement, with arrivals down by 6.1%, at 780,000, according to figures released by the Singapore Tourism Board (STB). Year-to-date, 3.03mn tourists have arrived in the city state.
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A Difficult Time Ahead Singapore’s tourism industry has experienced a difficult start to 2009. The first three months of the year saw double-digit declines in arrivals figures on a year-on-year (y-o-y) basis. April figures showed a slight improvement, with arrivals down by 6.1%, at 780,000, according to figures released by the Singapore Tourism Board (STB). Year-to-date, 3.03mn tourists have arrived in the city state.
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Indonesia falling prey to Singapore's tactical strategy
The Malaysian Insider, 22 Aug 2009
Singapore’s arguments are strong with its anticipatory, visionary and tactical approach, if not “cunning”. Which country is not tactical or “cunning” when it concerns international relations?
Where “cunning” is concerned, Indonesia needs to understand and do the same. However, it is clearly way behind and loses out. This may be noticed, for instance, when Indonesia wishes to get its corrupt citizens “hiding” in Singapore extradited.
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Singapore’s arguments are strong with its anticipatory, visionary and tactical approach, if not “cunning”. Which country is not tactical or “cunning” when it concerns international relations?
Where “cunning” is concerned, Indonesia needs to understand and do the same. However, it is clearly way behind and loses out. This may be noticed, for instance, when Indonesia wishes to get its corrupt citizens “hiding” in Singapore extradited.
Read More
Criticizing a critic
Commentary
The Kent Ridge Common, 24 Aug 2009
TheOnlineCitizen (TOC) recently published its criticisms of the Reform Party’s (RP) National Day message. It was part of an exercise to play the Devil’s Advocate, so to speak, in evaluating the merits and weaknesses of all the political parties’ messages. While TOC’s efforts are laudatory, its criticisms on two issues brought up by the RP leaves much to be desired.
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The Kent Ridge Common, 24 Aug 2009
TheOnlineCitizen (TOC) recently published its criticisms of the Reform Party’s (RP) National Day message. It was part of an exercise to play the Devil’s Advocate, so to speak, in evaluating the merits and weaknesses of all the political parties’ messages. While TOC’s efforts are laudatory, its criticisms on two issues brought up by the RP leaves much to be desired.
Read More
Sunday, August 23, 2009
Only Three Percent Of Singapore Youths Are Problem Gamblers
Gambling Casino Web, 23 Aug 2009
Problem gambling can start at a yopung age. That is what many counselors will tell people who are looking for statistics on problem gambling. In Singapore, only three percent of youths are affected by problem gambling.
That was revealed during the Singapore Problem Gambling Conference on Thursday. The study was commissioned by the Singapore Prison Service, and was conducted by Nanyang Technological Unviersity Professor Chang Weining. The results of the study were that three in every 100 youths are considered problem gamblers.
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Problem gambling can start at a yopung age. That is what many counselors will tell people who are looking for statistics on problem gambling. In Singapore, only three percent of youths are affected by problem gambling.
That was revealed during the Singapore Problem Gambling Conference on Thursday. The study was commissioned by the Singapore Prison Service, and was conducted by Nanyang Technological Unviersity Professor Chang Weining. The results of the study were that three in every 100 youths are considered problem gamblers.
Read More
Saturday, August 22, 2009
PAP pondering how best to fight to stay in power
Commentary
The Star Online, 22 Aug 2009
The Government appears to be telling young Singaporeans that if they want debate, the government will give it to them and if the youngsters want parliamentary democracy, they can have it too – but not necessarily through elections or a two-party system.
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The Star Online, 22 Aug 2009
The Government appears to be telling young Singaporeans that if they want debate, the government will give it to them and if the youngsters want parliamentary democracy, they can have it too – but not necessarily through elections or a two-party system.
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Tamiflu-resistant H1N1 may have spread in Singapore
The Malaysian Insider, 22 Aug 2009
SINGAPORE, Aug 22 — Resistance to Tamiflu has been detected in a patient in Singapore who was down with the pandemic Influenza A (H1N1) bug. Similar cases have also emerged in Hong Kong, China, Japan, Canada, the United States and Denmark.
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SINGAPORE, Aug 22 — Resistance to Tamiflu has been detected in a patient in Singapore who was down with the pandemic Influenza A (H1N1) bug. Similar cases have also emerged in Hong Kong, China, Japan, Canada, the United States and Denmark.
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Swiss banking secrecy crackdown: Singapore next
Commentary
Network.natonalpost.com, 21 Aug 2009, Diane Francis
The Swiss have been surrounded for decades by mountains of snow and dirty money.
That’s why it is indeed welcome news that Washington has been able to pry open Switzerland’s bank secrecy laws this week. UBS will hand over information on the accounts of 4,450 wealthy Americans.
But this should be just the beginning and the next big target should be Singapore, according to Washington-based attorney Jack Blum.
“As a result of the pressure on Switzerland, a lot of the client bank accounts have been shifted off to Singapore. UBS said [last year] it will cooperate in giving up the names, so billions fled and it all appears to be heading to Singapore,” he said in a recent telephone interview.
Singapore is the “preferred destination” for Wall Street denizens, according to Singaporean opposition politicians. Who knows? Maybe some of Madoff’s billions are there.
Read More
Related:
Dirty money flees Swiss banks for Singapore - The Huffington Post
Network.natonalpost.com, 21 Aug 2009, Diane Francis
The Swiss have been surrounded for decades by mountains of snow and dirty money.
That’s why it is indeed welcome news that Washington has been able to pry open Switzerland’s bank secrecy laws this week. UBS will hand over information on the accounts of 4,450 wealthy Americans.
But this should be just the beginning and the next big target should be Singapore, according to Washington-based attorney Jack Blum.
“As a result of the pressure on Switzerland, a lot of the client bank accounts have been shifted off to Singapore. UBS said [last year] it will cooperate in giving up the names, so billions fled and it all appears to be heading to Singapore,” he said in a recent telephone interview.
Singapore is the “preferred destination” for Wall Street denizens, according to Singaporean opposition politicians. Who knows? Maybe some of Madoff’s billions are there.
Read More
Related:
Dirty money flees Swiss banks for Singapore - The Huffington Post
Singapore CPF Funds See Net Outflow Of S$20 Million In Q2
Nasdaq
SINGAPORE -(Dow Jones)- Singapore's Central Provident Fund products saw a net outflow of S$20 million in the second quarter compared with a net outflow of only S$5 million the previous quarter, Rajeev Baddepudi, senior research analyst of Asean with Lipper said Friday.
Baddepudi said that in the second quarter ending June, CPF saw a net outflow of S$73 million versus a net inflow of S$53 million. In the first quarter, net outflow was S$38 million while inflow was S$33 million
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SINGAPORE -(Dow Jones)- Singapore's Central Provident Fund products saw a net outflow of S$20 million in the second quarter compared with a net outflow of only S$5 million the previous quarter, Rajeev Baddepudi, senior research analyst of Asean with Lipper said Friday.
Baddepudi said that in the second quarter ending June, CPF saw a net outflow of S$73 million versus a net inflow of S$53 million. In the first quarter, net outflow was S$38 million while inflow was S$33 million
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Singapore - An City Without A Mother Tongue Or Cultural Soul
Letter
Asia Sentinel, 21 Aug 2009
I have just ended a one- year stopover in Singapore. Having worked there and personally witnessed the Lion City's prosperity, I ended up feeling a need to find a missing piece to the puzzle of the place, wondering, as the turn of-the (20th) century American poet Gertrude Stein said of her native Oakland, California, where the there is. Like its invented Merlion, it is neither one thing nor another.
English is the working language and the first language in all schools in Singapore. I personally have no objection regarding the importance of English and I am very fond of the language. When I was working there, I had been struggling to speak good English when everybody was speaking the clipped, fast-paced, slangy version, called Singlish.
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Asia Sentinel, 21 Aug 2009
I have just ended a one- year stopover in Singapore. Having worked there and personally witnessed the Lion City's prosperity, I ended up feeling a need to find a missing piece to the puzzle of the place, wondering, as the turn of-the (20th) century American poet Gertrude Stein said of her native Oakland, California, where the there is. Like its invented Merlion, it is neither one thing nor another.
English is the working language and the first language in all schools in Singapore. I personally have no objection regarding the importance of English and I am very fond of the language. When I was working there, I had been struggling to speak good English when everybody was speaking the clipped, fast-paced, slangy version, called Singlish.
Read More
Warren Buffett most popular in Singapore and Hong Kong?
Commentary
Examiner.com, 21 Aug 2009
Warren Buffett is more popular in Singapore and Hong Kong than he is in the United States, by one measure anyway.
In the past year, the search term "Warren Buffett" has been entered into Google more frequently in Singapore and Hong Kong than in the U.S., according to an analysis through Google Trends.
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Examiner.com, 21 Aug 2009
Warren Buffett is more popular in Singapore and Hong Kong than he is in the United States, by one measure anyway.
In the past year, the search term "Warren Buffett" has been entered into Google more frequently in Singapore and Hong Kong than in the U.S., according to an analysis through Google Trends.
Read More
Singapore awards researchers to commercialize studies
People's Daily Online, 21 Aug 2009
Singapore's National Research Foundation (NRF) on Friday granted 4 million Singapore dollars (2.8 million U.S. dollars) to help commercialize 16 research projects.
The awarded projects are in the areas of engineering, info-comm-technologies and life sciences, a statement from NRF said.
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Singapore's National Research Foundation (NRF) on Friday granted 4 million Singapore dollars (2.8 million U.S. dollars) to help commercialize 16 research projects.
The awarded projects are in the areas of engineering, info-comm-technologies and life sciences, a statement from NRF said.
Read More
Singapore's Labor Chief Says Layoffs Would Be Below Past Peaks
RTTNews, 21 Aug 2009
The number of unemployed in Singapore will be below its peaks of past downturns, Singapore media reported quoting labor chief Lim Swee Say.
"After eight months, we are on track to reach the target," Lim said Thursday.
Lim sees a 'good chance' for layoffs to total 30,000, which was the high in 1998 during the Asian financial crisis. In the first half of this year, layoffs were 15,700.
Link
The number of unemployed in Singapore will be below its peaks of past downturns, Singapore media reported quoting labor chief Lim Swee Say.
"After eight months, we are on track to reach the target," Lim said Thursday.
Lim sees a 'good chance' for layoffs to total 30,000, which was the high in 1998 during the Asian financial crisis. In the first half of this year, layoffs were 15,700.
Link
Singapore mutual funds see inflows in Q2, reverse trend
Reuters, 21 Aug 2009
SINGAPORE, Aug 21 (Reuters) - Singapore retail investors put money in mutual funds in the second quarter of 2009 after three consecutive quarters of outflows, signalling a turnaround in business for the city-state's fund managers.
Estimates released on Friday by the Investment Management Association of Singapore (IMAS) showed net inflow of S$513.3 million ($356.5 million) in Singapore-registered funds in April-June after net outflow of S$122 million in the preceding quarter.
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SINGAPORE, Aug 21 (Reuters) - Singapore retail investors put money in mutual funds in the second quarter of 2009 after three consecutive quarters of outflows, signalling a turnaround in business for the city-state's fund managers.
Estimates released on Friday by the Investment Management Association of Singapore (IMAS) showed net inflow of S$513.3 million ($356.5 million) in Singapore-registered funds in April-June after net outflow of S$122 million in the preceding quarter.
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Singapore group eyes investments In Cambodia
The Phnom Penh Post, 21 Aug 2009
A delegation representing 21 companies from Singapore met government officials this week to discuss investments potentially worth hundreds of millions of dollars.
Delegation head Lawrence Leow, who is the deputy honorary secretary of the Singapore Business Federation, told the Post Thursday the group was looking at four key areas: tourism, agriculture, education and logistics.
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A delegation representing 21 companies from Singapore met government officials this week to discuss investments potentially worth hundreds of millions of dollars.
Delegation head Lawrence Leow, who is the deputy honorary secretary of the Singapore Business Federation, told the Post Thursday the group was looking at four key areas: tourism, agriculture, education and logistics.
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Friday, August 21, 2009
The fibre is arriving on time, but will Singapore's National Broadband Network stay fair?
TelecomTV, 20 Aug 2009
Singapore has devised what looks like a level playing field for its national broadband rollout - complete with competing players in different tiers. But as the first homes are connected questions are being asked about just how competitive the market will be. Alfred Siew reports.
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Singapore has devised what looks like a level playing field for its national broadband rollout - complete with competing players in different tiers. But as the first homes are connected questions are being asked about just how competitive the market will be. Alfred Siew reports.
Read More
Singapore's Domestic Wholesale Trade Recovers In Q2
ForexTV.com, 21 Aug 2009
(RTTNews) - Friday, the Singapore Department of Statistics said domestic wholesale trade grew 7.3% sequentially in the second quarter, following a revised 10% fall in the first quarter. The sequential increase was mainly attributable to petroleum and petroleum product sector, general wholesale trade and chemicals and chemical products sectors.
Read More
Related:
Singapore's Q2 domestic wholesale trade increases 7.3% - People's Daily Online
(RTTNews) - Friday, the Singapore Department of Statistics said domestic wholesale trade grew 7.3% sequentially in the second quarter, following a revised 10% fall in the first quarter. The sequential increase was mainly attributable to petroleum and petroleum product sector, general wholesale trade and chemicals and chemical products sectors.
Read More
Related:
Singapore's Q2 domestic wholesale trade increases 7.3% - People's Daily Online
NZ, Singapore sign new double tax agreement
Scoop.co.nz, 21 Aug 2009
New Zealand and Singapore have a signed a new double tax agreement to replace their 1973 treaty, Revenue Minister Peter Dunne announced today.
“The agreement will modernise our tax treaty arrangements with Singapore and bring them into line with best international practice,” Mr Dunne said.
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New Zealand and Singapore have a signed a new double tax agreement to replace their 1973 treaty, Revenue Minister Peter Dunne announced today.
“The agreement will modernise our tax treaty arrangements with Singapore and bring them into line with best international practice,” Mr Dunne said.
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Breaking the camel’s back
Commentary
The Kent Ridge Common, 21 Aug 2009
SINGAPORE – It is perfectly understandable if one perceives the PAP government as one that is being obsessed with GDP figures while displaying an indifferent attitude to the Gini coefficient. Mark Twain himself said:”There are three kinds of lies: lies, damned lies, and statistics.” Of course, no one here is insisting that the mathematics involved in the calculation of our GDP figures is aberrant. The problem is the selective bias towards a metric that gives an impression that a country is doing well while ignoring the stories told by other metrics.
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The Kent Ridge Common, 21 Aug 2009
SINGAPORE – It is perfectly understandable if one perceives the PAP government as one that is being obsessed with GDP figures while displaying an indifferent attitude to the Gini coefficient. Mark Twain himself said:”There are three kinds of lies: lies, damned lies, and statistics.” Of course, no one here is insisting that the mathematics involved in the calculation of our GDP figures is aberrant. The problem is the selective bias towards a metric that gives an impression that a country is doing well while ignoring the stories told by other metrics.
Read More
Singapore ranked as 2nd most expensive city in Asia
CCTV.com, 21 Aug 2009
SINGAPORE, Aug. 20 (Xinhua) -- Singapore has been ranked as the second most expensive city in Asia, local media reported on Thursday.
Local TV broadcaster Channel News Asia quoted the UBS' Prices and Earnings 2009 study as reporting that Tokyo is ranked as the most expensive city in Asia, Singapore comes the second, while China's Hong Kong takes the third position.
Singapore is ranked 24th globally, in a comparison of living costs in 73 cities around the world.
Read More
Related:
Singapore ranked as 2nd most expensive city in Asia - Vietnam Net
Singapore ranked as 2nd most expensive city in Asia - People's Daily Online
SINGAPORE, Aug. 20 (Xinhua) -- Singapore has been ranked as the second most expensive city in Asia, local media reported on Thursday.
Local TV broadcaster Channel News Asia quoted the UBS' Prices and Earnings 2009 study as reporting that Tokyo is ranked as the most expensive city in Asia, Singapore comes the second, while China's Hong Kong takes the third position.
Singapore is ranked 24th globally, in a comparison of living costs in 73 cities around the world.
Read More
Related:
Singapore ranked as 2nd most expensive city in Asia - Vietnam Net
Singapore ranked as 2nd most expensive city in Asia - People's Daily Online
GIC now the biggest shareholder in UBS
The Malaysian Insider, 21 Aug 2009
LONDON,Aug 21 — The Government of Singapore Investment Corp (GIC) is now the biggest shareholder in UBS, after the Swiss government sold its 9 per cent stake in the bank, people familiar with the lender said.
The sale yesterday drew lively bids, traders said, with a price range seen above the stock’s closing price in the previous session.
GIC said yesterday it did not buy any shares in UBS from the Swiss government, but that it remained confident about the bank’s future.
Read More
LONDON,Aug 21 — The Government of Singapore Investment Corp (GIC) is now the biggest shareholder in UBS, after the Swiss government sold its 9 per cent stake in the bank, people familiar with the lender said.
The sale yesterday drew lively bids, traders said, with a price range seen above the stock’s closing price in the previous session.
GIC said yesterday it did not buy any shares in UBS from the Swiss government, but that it remained confident about the bank’s future.
Read More
Thailand tourism board targets Singaporean travellers
etravelblackboardasia.com, 21 Aug 2009
After receiving over 569,000 Singaporean tourists to Thailand last year, the Tourism Authority of Thailand (TAT) announced the launch of a new strategy to attract more tourists from Singapore.
TAT said it would promote Thailand to Singapore as a short holiday destination that offered value-for-money and easy access.
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After receiving over 569,000 Singaporean tourists to Thailand last year, the Tourism Authority of Thailand (TAT) announced the launch of a new strategy to attract more tourists from Singapore.
TAT said it would promote Thailand to Singapore as a short holiday destination that offered value-for-money and easy access.
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Not all employees are created equal
Commentary
ZDNet Asia, 21 Aug 2009
In his speech, Lee pointedly rebuked a Nominated Member of Parliament (NMP) who had called for changes to better reflect undisputed equality for all races in Singapore. The senior statesman noted that ideals of racial equality remain that--ideals...well, at least, for now.
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ZDNet Asia, 21 Aug 2009
In his speech, Lee pointedly rebuked a Nominated Member of Parliament (NMP) who had called for changes to better reflect undisputed equality for all races in Singapore. The senior statesman noted that ideals of racial equality remain that--ideals...well, at least, for now.
Read More
US Envoy Praises Singapore for Enforcing Sanctions on North Korea
VOA News, 21 Aug 2009
A U.S. envoy has praised Singapore's efforts to enforce United Nations sanctions imposed on North Korea for pursuing nuclear weapons in defiance of the global community.
U.S. Ambassador Philip Goldberg was speaking in Singapore Thursday after discussing the city-state's implementation of sanctions with local officials.
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A U.S. envoy has praised Singapore's efforts to enforce United Nations sanctions imposed on North Korea for pursuing nuclear weapons in defiance of the global community.
U.S. Ambassador Philip Goldberg was speaking in Singapore Thursday after discussing the city-state's implementation of sanctions with local officials.
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Singapore, Germany to train civil aviation personnel in Afghanistan
People's Daily Online, 21 Aug 2009
Singapore and Germany will collaborate for the first time to provide technical assistance to Afghanistan in civil aviation, according to a statement by Singapore's Ministry of Foreign Affairs on Thursday.
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Singapore and Germany will collaborate for the first time to provide technical assistance to Afghanistan in civil aviation, according to a statement by Singapore's Ministry of Foreign Affairs on Thursday.
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Thursday, August 20, 2009
Domestic pressure growing for SWFs to be more transparent
Reuters Blogs, 20 Aug 2009
Gary Smith, head of central banks, supranational institutions and sovereign wealth funds at BNP Paribas Investment Partners, says the pressure to open up has raised unseen consequences of having to face domestic pressures.
His recent trip to Singapore has confirmed this. A taxidriver complained to him about the poor performance of the country’s SWF, GIC.
“I’m quite sure it’s the first time in 29 years that taxi drivers in Singapore have been talking about the performance of the GIC,” he says.
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Gary Smith, head of central banks, supranational institutions and sovereign wealth funds at BNP Paribas Investment Partners, says the pressure to open up has raised unseen consequences of having to face domestic pressures.
His recent trip to Singapore has confirmed this. A taxidriver complained to him about the poor performance of the country’s SWF, GIC.
“I’m quite sure it’s the first time in 29 years that taxi drivers in Singapore have been talking about the performance of the GIC,” he says.
Read More
Recession in Japan and Singapore: A combination of troubling data and some encouraging signs
DiamondWorld.net, 20 Aug 2009
The current financial crisis is hurting the retail businesses of many nations, and Asia is no exception. Unlike China, which has managed to deal with the global recession admirably, other countries in Asia are suffering from a downturn, growing unemployment, and a drop in exports, production and private consumption. Japan and Singapore are two countries that have suffered this fate.
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The current financial crisis is hurting the retail businesses of many nations, and Asia is no exception. Unlike China, which has managed to deal with the global recession admirably, other countries in Asia are suffering from a downturn, growing unemployment, and a drop in exports, production and private consumption. Japan and Singapore are two countries that have suffered this fate.
Read More
Singapore Malays Hold Special Position
Bernama.com, 20 Aug 2009
SINGAPORE, Aug 20 (Bernama) - The minority Malays in Singapore have a "special position" under the republic's constitution, according to former Prime Minister Lee Kuan Yew.
He said the constitution of Singapore enjoined the government to give Malays a "special position" rather than to 'treat everybody as equal'.
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SINGAPORE, Aug 20 (Bernama) - The minority Malays in Singapore have a "special position" under the republic's constitution, according to former Prime Minister Lee Kuan Yew.
He said the constitution of Singapore enjoined the government to give Malays a "special position" rather than to 'treat everybody as equal'.
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Singapore’s prime minister tries to tamp down evangelism
Everyday Christian, 20 Aug 2009
SINGAPORE (AP) — Singapore’s prime minister said in his National Day speech that “aggressive preaching” by religious groups and evangelizing threaten the tiny city-state’s stability.
Lee Hsien Loong, a Buddhist by birth, said his education at the island’s Roman Catholic High School was an example of how different religions can coexist peacefully.
“The most visceral and dangerous fault line (in Singapore) is race and religion,” Lee said.
Read More
Related:
Singapore prime minister: Religion threatens stability - Abilene Reporter-News
Singapore prime minister: Evangelization threatens nation’s stability - Catholic Culture
SINGAPORE (AP) — Singapore’s prime minister said in his National Day speech that “aggressive preaching” by religious groups and evangelizing threaten the tiny city-state’s stability.
Lee Hsien Loong, a Buddhist by birth, said his education at the island’s Roman Catholic High School was an example of how different religions can coexist peacefully.
“The most visceral and dangerous fault line (in Singapore) is race and religion,” Lee said.
Read More
Related:
Singapore prime minister: Religion threatens stability - Abilene Reporter-News
Singapore prime minister: Evangelization threatens nation’s stability - Catholic Culture
Singapore GIC did not buy Swiss govt's UBS shares
Forbes.com, 20 Aug 2009
SINGAPORE, Aug 20 (Reuters) - Singapore's largest sovereign wealth fund GIC said on Thursday it did not buy any shares in UBS from the Swiss government, but said it remained confident about the bank's future.
'GIC did not participate in the placement of UBS ( UBS - news - people ) shares. As a large investor in UBS, we maintain our confidence in the long-term prospect,' a spokeswoman for the Government of Singapore Investment Corp said in a statement.
Read More
Related:
Singapore GIC did not buy Swiss govt's UBS shares - XE.com
UPDATE:GIC Did Not Take Part In Swiss Govt's UBS Share Sale - The Wall Street Journal
SINGAPORE, Aug 20 (Reuters) - Singapore's largest sovereign wealth fund GIC said on Thursday it did not buy any shares in UBS from the Swiss government, but said it remained confident about the bank's future.
'GIC did not participate in the placement of UBS ( UBS - news - people ) shares. As a large investor in UBS, we maintain our confidence in the long-term prospect,' a spokeswoman for the Government of Singapore Investment Corp said in a statement.
Read More
Related:
Singapore GIC did not buy Swiss govt's UBS shares - XE.com
UPDATE:GIC Did Not Take Part In Swiss Govt's UBS Share Sale - The Wall Street Journal
Temasek and Transparency—III
The Wall Street Journal, 19 Aug 2009
Chip Goodyear's resignation as CEO-designate of Singapore state-owned investment fund Temasek last month may have done more good for taxpayers in the city-state than his five-month tenure. For the public ruckus his abrupt departure caused is empowering Singaporeans to demand more transparency about how their monies are managed.
On Tuesday, legislators from the ruling People's Action Party and opposition Workers' Party asked Finance Minister Tharman Shanmugaratnam why Mr. Goodyear resigned. "People do want to know," Mr. Tharman replied. "There's curiosity. But that is not sufficient reason to disclose information." Later, he added: "It will not be advisable, nor in the interest of Temasek or Mr. Goodyear, for us to comment further. It serves no strategic purpose."
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Chip Goodyear's resignation as CEO-designate of Singapore state-owned investment fund Temasek last month may have done more good for taxpayers in the city-state than his five-month tenure. For the public ruckus his abrupt departure caused is empowering Singaporeans to demand more transparency about how their monies are managed.
On Tuesday, legislators from the ruling People's Action Party and opposition Workers' Party asked Finance Minister Tharman Shanmugaratnam why Mr. Goodyear resigned. "People do want to know," Mr. Tharman replied. "There's curiosity. But that is not sufficient reason to disclose information." Later, he added: "It will not be advisable, nor in the interest of Temasek or Mr. Goodyear, for us to comment further. It serves no strategic purpose."
Read More
GIC Scholarship For Malaysians
GIC Scholarship Interview In Malaysia
Several Malaysian bloggers recount their experiences at the GIC Scholarship Interview conducted in Malaysia
http://winsonleaps.wordpress.com/2009/03/04/gic-scholarship-interview-2009/
http://weiwenconcerto.blogspot.com/2009/08/gic-scholarship-interview-round-1.html
http://njoylife-jianhong.blogspot.com/2009/08/gic-scholarship-interview-tests.html
http://ourcoffeestops.com/2008/03/gic-scholarship-interview/
Thank you GIC
Several Malaysian bloggers recount their experiences at the GIC Scholarship Interview conducted in Malaysia
http://winsonleaps.wordpress.com/2009/03/04/gic-scholarship-interview-2009/
http://weiwenconcerto.blogspot.com/2009/08/gic-scholarship-interview-round-1.html
http://njoylife-jianhong.blogspot.com/2009/08/gic-scholarship-interview-tests.html
http://ourcoffeestops.com/2008/03/gic-scholarship-interview/
Thank you GIC
Singapore's Loan Sharking Problem
Asia Sentinel, 20 Aug 2009
Bad times spawn intimidating illegal moneylenders
When the Singapore police nailed four suspected members of a loan-sharking syndicate on July 21, they seized the usual paraphernalia: mobile phones and prepaid SIM cards and the time-honored tools of intimidation such as paint to be splashed on the doors of bad debtors and superglue to lock them inside their apartments.
But while loan sharks – or Ah Longs as they are known – have long been a ubiquitous presence on Singapore's sprawling public housing estates, this gang is one of a growing number taking bully-boy tactics to the next level.
Read More
Bad times spawn intimidating illegal moneylenders
When the Singapore police nailed four suspected members of a loan-sharking syndicate on July 21, they seized the usual paraphernalia: mobile phones and prepaid SIM cards and the time-honored tools of intimidation such as paint to be splashed on the doors of bad debtors and superglue to lock them inside their apartments.
But while loan sharks – or Ah Longs as they are known – have long been a ubiquitous presence on Singapore's sprawling public housing estates, this gang is one of a growing number taking bully-boy tactics to the next level.
Read More
Bomb threat to Singapore Airlines Melbourne flight
Herald Sun, 20 Aug 2009
AUSTRALIAN Federal Police are investigating a security scare on a Singapore Airlines flight to Melbourne.
A Singapore Airlines media spokeswoman said the airline received a bomb hoax call in relation to flight SQ 227 from Singapore to Melbourne just before 1am (AEST) today.
Read More
Related:
Bomb Threat on Singapore Airlines Flight Sparks Probe - Bloomberg.com
Bomb scare on Singapore Airlines flight to Melbourne - Illawarramercury.com.au
AUSTRALIAN Federal Police are investigating a security scare on a Singapore Airlines flight to Melbourne.
A Singapore Airlines media spokeswoman said the airline received a bomb hoax call in relation to flight SQ 227 from Singapore to Melbourne just before 1am (AEST) today.
Read More
Related:
Bomb Threat on Singapore Airlines Flight Sparks Probe - Bloomberg.com
Bomb scare on Singapore Airlines flight to Melbourne - Illawarramercury.com.au
Ho Ching is Forbes' 5th Most Powerful Women In The World
The Wall Street Journal, 20 Aug 2009
German Chancellor Angela Merkel held on to the No. 1 spot on Forbes' annual ranking of the world's most powerful women for the fourth year in a row.
The German leader was followed by Federal Deposit Insurance Corp. Chairman Sheila Bair, who has been part of the team handling the U.S. financial crisis, at No. 2. Chief executives of top companies filled the rest of the top 10.
ndra Nooyi of PepsiCo Inc. and Cynthia Carroll of Anglo American PLC were ranked Nos. 3 and 4, followed by Singapore's first lady Ho Ching, chief executive of the country's sovereign wealth fund Temasek Holdings, at No. 5.
Read More
German Chancellor Angela Merkel held on to the No. 1 spot on Forbes' annual ranking of the world's most powerful women for the fourth year in a row.
The German leader was followed by Federal Deposit Insurance Corp. Chairman Sheila Bair, who has been part of the team handling the U.S. financial crisis, at No. 2. Chief executives of top companies filled the rest of the top 10.
ndra Nooyi of PepsiCo Inc. and Cynthia Carroll of Anglo American PLC were ranked Nos. 3 and 4, followed by Singapore's first lady Ho Ching, chief executive of the country's sovereign wealth fund Temasek Holdings, at No. 5.
Read More
Singapore proposes new frameworks to ensure private schools quality
CCTV.com, 19 Aug 2009
SINGAPORE, Aug. 18 (Xinhua) -- Singapore's Education Ministry has introduced a new private education bill in parliament, local media reported on Tuesday.
The bill proposed a new voluntary quality assurance scheme for private education institutions, local radio 938Live reported.
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SINGAPORE, Aug. 18 (Xinhua) -- Singapore's Education Ministry has introduced a new private education bill in parliament, local media reported on Tuesday.
The bill proposed a new voluntary quality assurance scheme for private education institutions, local radio 938Live reported.
Read More
Singapore 2010 Youth Games Mascot Name Contest
GameBids.com, 19 Aug 2009
Singapore 2010 announced a naming exercise last week for the first inaugural Youth Olympic Games to commemorate the one-year countdown to the Games.
The Singapore Youth Olympic Games Organising Committee (SYOGOC) invites the public to join in the excitement by taking part in naming the very first YOG mascots.
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Singapore 2010 announced a naming exercise last week for the first inaugural Youth Olympic Games to commemorate the one-year countdown to the Games.
The Singapore Youth Olympic Games Organising Committee (SYOGOC) invites the public to join in the excitement by taking part in naming the very first YOG mascots.
Read More
Muhyiddin: LKY Threatened War With M'sia Over Water Supply
Bernama.com, 20 Aug 2009
Muhyiddin said Dr Mahathir had summoned him to attend a meeting with visiting Singapore prime minister then, Lee Kuan Yew over gas pipeline and water supply issues in Kuala Lumpur.
He said during the meeting between Dr Mahathir, the then finance minister Tun Daim Zainuddin, Lee and him, Lee had pressed for adequate water supply to the republic from Johor.
"Lee said Singapore was ready to go to war if Malaysia did not want to supply enough water and expressed his regret over the stalled water supply project from Sungai Lingu.
Read More
Related:
Muhyiddin: Singapore threatened war if not given water - Malaysia Today
Muhyiddin said Dr Mahathir had summoned him to attend a meeting with visiting Singapore prime minister then, Lee Kuan Yew over gas pipeline and water supply issues in Kuala Lumpur.
He said during the meeting between Dr Mahathir, the then finance minister Tun Daim Zainuddin, Lee and him, Lee had pressed for adequate water supply to the republic from Johor.
"Lee said Singapore was ready to go to war if Malaysia did not want to supply enough water and expressed his regret over the stalled water supply project from Sungai Lingu.
Read More
Related:
Muhyiddin: Singapore threatened war if not given water - Malaysia Today
Wednesday, August 19, 2009
S'pore mulls 'three-strikes' law against illegal downloads
ZDNet Asia, 19 Aug 2009
SINGAPORE--Authorities here are studying a new approach to stem illegal downloads where recalcitrant pirates will have their Internet access cut if they fail to heed repeated warnings.
According to a report Wednesday by local daily The Straits Times, the Intellectual Property Office of Singapore (Ipos) is currently evaluating the new option, commonly known as the "three-strikes law", and is holding discussions with "relevant stakeholders on the issue".
If implemented in Singapore, users caught repeatedly downloading content illegally will receive up to three warnings. Their fourth such offence will result in a termination of Internet access from the Internet service provider (ISP).
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SINGAPORE--Authorities here are studying a new approach to stem illegal downloads where recalcitrant pirates will have their Internet access cut if they fail to heed repeated warnings.
According to a report Wednesday by local daily The Straits Times, the Intellectual Property Office of Singapore (Ipos) is currently evaluating the new option, commonly known as the "three-strikes law", and is holding discussions with "relevant stakeholders on the issue".
If implemented in Singapore, users caught repeatedly downloading content illegally will receive up to three warnings. Their fourth such offence will result in a termination of Internet access from the Internet service provider (ISP).
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Temasek's Kaisa Group Targets $300m HK Listing
JLM Pacific Epoch, 19 Aug 2009
Shenzhen-based real estate developer Kaisa Group Holdings has decided to re-launch a Hong Kong listing plan from the first quarter of 2008, and initially estimates that it may raise between $300 million and $500 million as early as this year, reports Sina. Kaisa recorded sales of RMB 2 billion on more than 250,000 square meters in Shenzhen in 2008, said the report.
Established in 1999, Kaisa develops more than 1 million square meters annually and has five projects for sale this year, said the report. Kaisa shareholders include Singapore's Temasek Holdings and the Carlyle Group, said the report.
Link
Shenzhen-based real estate developer Kaisa Group Holdings has decided to re-launch a Hong Kong listing plan from the first quarter of 2008, and initially estimates that it may raise between $300 million and $500 million as early as this year, reports Sina. Kaisa recorded sales of RMB 2 billion on more than 250,000 square meters in Shenzhen in 2008, said the report.
Established in 1999, Kaisa develops more than 1 million square meters annually and has five projects for sale this year, said the report. Kaisa shareholders include Singapore's Temasek Holdings and the Carlyle Group, said the report.
Link
Top Business and World Leaders to Converge in Singapore for APEC CEO Summit in November
ACNNEWSWIRE, 19 Aug 2009
Singapore, Aug 19, 2009 - (ACN Newswire) - More than 800 of the world's top business leaders will converge here in November for the only international forum that provides direct contact with leaders of the most powerful nations in the Pacific Rim, most notably US President Barack Obama on his inaugural visit to Singapore.
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Singapore, Aug 19, 2009 - (ACN Newswire) - More than 800 of the world's top business leaders will converge here in November for the only international forum that provides direct contact with leaders of the most powerful nations in the Pacific Rim, most notably US President Barack Obama on his inaugural visit to Singapore.
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Indonesia tight-lipped as SE Asia braces for worsening haze
Reuters, 19 Aug 2009
SINGAPORE, Aug 19 (Reuters) - Indonesia appeared to bat away offers from other Southeast Asian countries to help stop haze pollution on Wednesday, leaving the region facing worsening skies as a result of a brewing El Nino weather pattern.
Worried about the potential impact, environment ministers of the region met on Wednesday in Singapore to discuss ways to mitigate the haze, which cost over $9 billion in damage to the region's tourism, transport and farming during an El Nino weather pattern in 1997/98.
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SINGAPORE, Aug 19 (Reuters) - Indonesia appeared to bat away offers from other Southeast Asian countries to help stop haze pollution on Wednesday, leaving the region facing worsening skies as a result of a brewing El Nino weather pattern.
Worried about the potential impact, environment ministers of the region met on Wednesday in Singapore to discuss ways to mitigate the haze, which cost over $9 billion in damage to the region's tourism, transport and farming during an El Nino weather pattern in 1997/98.
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China, Singapore eye new opportunity for cooperation
Xinhua, 19 Aug 2009
BEIJING, Aug. 19 (Xinhua) -- China and Singapore will explore new cooperative fields as they mark the 20th anniversary of diplomatic relations next year, said Chinese Vice President Xi Jinping on Wednesday.
"Next year, the two countries will celebrate the 20th anniversary of the establishment of bilateral diplomatic relations, and the two sides should take the opportunity to explore new aspect of cooperation," said Xi in a meeting with visiting Singaporean Foreign Minister George Yeo Yong Boon in Beijing.
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BEIJING, Aug. 19 (Xinhua) -- China and Singapore will explore new cooperative fields as they mark the 20th anniversary of diplomatic relations next year, said Chinese Vice President Xi Jinping on Wednesday.
"Next year, the two countries will celebrate the 20th anniversary of the establishment of bilateral diplomatic relations, and the two sides should take the opportunity to explore new aspect of cooperation," said Xi in a meeting with visiting Singaporean Foreign Minister George Yeo Yong Boon in Beijing.
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BizLawCentral: Singapore to improve training for lawyers, aid returnees and transferees.
The Chief Officers' Network, 19 Aug 2009
The Law Society of Singapore has announced a shake up in the training regime and measures to help those returning to practice and foreign lawyers seeking transfer in a bid to become a regional centre for law.
The training regime in Singapore has, hitherto, been less stringent than in, for example, Hong Kong against which, in so many ways, Singapore measures itself.
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The Law Society of Singapore has announced a shake up in the training regime and measures to help those returning to practice and foreign lawyers seeking transfer in a bid to become a regional centre for law.
The training regime in Singapore has, hitherto, been less stringent than in, for example, Hong Kong against which, in so many ways, Singapore measures itself.
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More Singapore retail malls go solar
ZDNet Asia, 19 Aug 2009
Solar technology is making headway in Singapore's retail sector, as new and revamped malls in Singapore incorporate photovoltaics (PV) into their "green" strategies.
Sembawang Shopping Centre (SSC), a revamped mall that was re-launched in December 2008, boasts 51 solar panels on its roof that generate 34.52kWh of electricity per day. The daily output is said to be able to power a 32W fluorescent light for some 45 days.
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Solar technology is making headway in Singapore's retail sector, as new and revamped malls in Singapore incorporate photovoltaics (PV) into their "green" strategies.
Sembawang Shopping Centre (SSC), a revamped mall that was re-launched in December 2008, boasts 51 solar panels on its roof that generate 34.52kWh of electricity per day. The daily output is said to be able to power a 32W fluorescent light for some 45 days.
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Singapore Work Pass Options
Analysis
Live-PR, 19 Aug 2009
Singapore heartily welcomes foreign entrepreneurs, professionals, managing directors and shareholders of Singaporean companies who wish to work or who are seeking to set up a business in Singapore. For that purpose the Ministry of Manpower has allotted two passes; the Employment Pass and the EntrePass. Each has their own requirements to fulfill and involve different procedures.
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Live-PR, 19 Aug 2009
Singapore heartily welcomes foreign entrepreneurs, professionals, managing directors and shareholders of Singaporean companies who wish to work or who are seeking to set up a business in Singapore. For that purpose the Ministry of Manpower has allotted two passes; the Employment Pass and the EntrePass. Each has their own requirements to fulfill and involve different procedures.
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CapitaLand to invest in China, Vietnam
Reuters, 18 Aug 2009
SINGAPORE, Aug 18 (Reuters) - Southeast Asia's largest property developer CapitaLand (CATL.SI) said on Tuesday it was deploying S$ 1 billion of 1.8 billion ($1.24 billion) in capital raised from a recent rights issue to its businesses in China, Vietnam and the Ascott Group.
It said S$500 million of the one billion will go to its China arm, S$299 million to Vietnam and the remainder to Ascott, a wholly-owned unit that operates serviced apartments. While the rest of the S$1.8 billion will be kept for further investment opportunities, the firm said.
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Related:
CapitaLand deploys S$1 billion from rights issue - Property-report.com
SINGAPORE, Aug 18 (Reuters) - Southeast Asia's largest property developer CapitaLand (CATL.SI) said on Tuesday it was deploying S$ 1 billion of 1.8 billion ($1.24 billion) in capital raised from a recent rights issue to its businesses in China, Vietnam and the Ascott Group.
It said S$500 million of the one billion will go to its China arm, S$299 million to Vietnam and the remainder to Ascott, a wholly-owned unit that operates serviced apartments. While the rest of the S$1.8 billion will be kept for further investment opportunities, the firm said.
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Related:
CapitaLand deploys S$1 billion from rights issue - Property-report.com
Is Indian advertising going the Singapore way?
Commentary
The Economic Times, 19 Aug 2009
o is India on its way to becoming another Singapore ? Is the Indian tiger giving the small Asian city-state’s lion a run for its money as the next scam capital of the advertising world? These questions are, by nature, perhaps more controversialist than any other put to those in Indian advertising’s high places. But they meet a candid reply. We are indeed going the Singapore way, says Piyush Pandey, executive chairman & NCD, Ogilvy India.
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The Economic Times, 19 Aug 2009
o is India on its way to becoming another Singapore ? Is the Indian tiger giving the small Asian city-state’s lion a run for its money as the next scam capital of the advertising world? These questions are, by nature, perhaps more controversialist than any other put to those in Indian advertising’s high places. But they meet a candid reply. We are indeed going the Singapore way, says Piyush Pandey, executive chairman & NCD, Ogilvy India.
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Singapore property sales set for record year
Business Times (Malaysia), 19 Aug 2009
SINGAPORE: Record sales of private homes here in July may push the 2009 total to an all-time high as local sentiment and global economic prospects improve, analysts said yesterday.
A total of 2,767 apartments and houses were sold in July - the most ever sold in a single month - and this brought the total for the first seven months of this year to more than 10,000 units, according to official figures.
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SINGAPORE: Record sales of private homes here in July may push the 2009 total to an all-time high as local sentiment and global economic prospects improve, analysts said yesterday.
A total of 2,767 apartments and houses were sold in July - the most ever sold in a single month - and this brought the total for the first seven months of this year to more than 10,000 units, according to official figures.
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Singapore dominates Asian hospital awards
Vietnewsonline.vn
Singapore cemented its reputation as having some of Asia’s best health care providers by dominating the 2009 Hospital Management Asia awards in Ho Chi Minh City on Friday.
The ninth annual contest, held to honor hospitals in Asia – Pacific that offer best practices in hospital management, saw the city-state walk away with 10 of the 26 prizes on offer at the awards.
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Singapore cemented its reputation as having some of Asia’s best health care providers by dominating the 2009 Hospital Management Asia awards in Ho Chi Minh City on Friday.
The ninth annual contest, held to honor hospitals in Asia – Pacific that offer best practices in hospital management, saw the city-state walk away with 10 of the 26 prizes on offer at the awards.
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Singapore to host World Toilet Summit
The New Straits Time, 18 Aug 2009
SINGAPORE, Tues: Singapore will showcase the progress in its waste management infrastructure evolving from the bucket system 40 years ago to the state-of-the-art deep tunnel sewerage system today at the 9th World Toilet Summit and Expo (WTSE) it is hosting for the second time this December.
WTSE 2009 is organised by the Singapore-based World Toilet Organisation, founded in 2001, and in partnership with the Asian Development Bank (ADB) and the local partner Restroom Association, Singapore.
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SINGAPORE, Tues: Singapore will showcase the progress in its waste management infrastructure evolving from the bucket system 40 years ago to the state-of-the-art deep tunnel sewerage system today at the 9th World Toilet Summit and Expo (WTSE) it is hosting for the second time this December.
WTSE 2009 is organised by the Singapore-based World Toilet Organisation, founded in 2001, and in partnership with the Asian Development Bank (ADB) and the local partner Restroom Association, Singapore.
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Singapore to build up national spatial data
People's Daily Online, 18 Aug 2009
Over the next five years, Singapore will spend 27 million Singapore dollars (18.88 million U.S. dollars) to build the infrastructure and develop the collaborative environment for sharing of national spatial data.
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Over the next five years, Singapore will spend 27 million Singapore dollars (18.88 million U.S. dollars) to build the infrastructure and develop the collaborative environment for sharing of national spatial data.
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Tuesday, August 18, 2009
Has This Got To Do With Chip Goodyear's Departure From Temasek?
Commentary
Johnharding.com, 18 Aug 2009
Charles “Chip” Waterhouse Goodyear IV was with BHP Billiton from 1999 until September 30th 2007.
Goodyear was with BHP back when Saddam Hussein was still in power. In fact, BHP was negotiating with Iraqi oil ministry officials for rights to develop oil fields in southern Iraq - once sanctions were lifted.
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Johnharding.com, 18 Aug 2009
Charles “Chip” Waterhouse Goodyear IV was with BHP Billiton from 1999 until September 30th 2007.
Goodyear was with BHP back when Saddam Hussein was still in power. In fact, BHP was negotiating with Iraqi oil ministry officials for rights to develop oil fields in southern Iraq - once sanctions were lifted.
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Temasek CEO ‘Ideally’ Singaporean, Government Says
Bloomberg.com, 18 Aug 2009
Aug. 18 (Bloomberg) -- Temasek Holdings Pte’s chief executive officer should “ideally” be Singaporean, the city- state’s finance minister said after the departure last month of U.S.-born Charles “Chip” Goodyear.
Temasek’s board of directors must remain in the control of Singaporeans, Tharman Shanmugaratnam said in Parliament today, adding that the government “would prefer not to restrict” the investment company in its choice of CEO candidate. Goodyear, who would’ve been the first foreign-born CEO of the state-owned investor, quit five months after Temasek named him to take the helm from current chief Ho Ching.
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Related:
Official: Ideal for Singaporean to Head Temasek - The Wall Street Journal
Aug. 18 (Bloomberg) -- Temasek Holdings Pte’s chief executive officer should “ideally” be Singaporean, the city- state’s finance minister said after the departure last month of U.S.-born Charles “Chip” Goodyear.
Temasek’s board of directors must remain in the control of Singaporeans, Tharman Shanmugaratnam said in Parliament today, adding that the government “would prefer not to restrict” the investment company in its choice of CEO candidate. Goodyear, who would’ve been the first foreign-born CEO of the state-owned investor, quit five months after Temasek named him to take the helm from current chief Ho Ching.
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Related:
Official: Ideal for Singaporean to Head Temasek - The Wall Street Journal
Singapore says Temasek has no deadline to find CEO
Reuters, 18 Aug 2009
SINGAPORE, Aug 18 (Reuters) - Singapore state investor Temasek Holdings [TEM.UL] has set no deadline to find a candidate to replace former CEO-designate Charles "Chip" Goodyear, Finance Minister Tharman Shanmugaratnam said on Tuesday
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Related:
No deadline in search of Temasek CEO: Singapore official - Peoples's Daily Online
Singapore's Temasek has no deadline to find new chief executive - Earth Times
Temasek Says No CEO Deadline - The New York Times
SINGAPORE, Aug 18 (Reuters) - Singapore state investor Temasek Holdings [TEM.UL] has set no deadline to find a candidate to replace former CEO-designate Charles "Chip" Goodyear, Finance Minister Tharman Shanmugaratnam said on Tuesday
Read More
Related:
No deadline in search of Temasek CEO: Singapore official - Peoples's Daily Online
Singapore's Temasek has no deadline to find new chief executive - Earth Times
Temasek Says No CEO Deadline - The New York Times
Singapore proposes new frameworks to ensure private schools quality
Xinhua, 18 Aug 2009
SINGAPORE, Aug. 18 (Xinhua) -- Singapore's Education Ministry has introduced a new private education bill in parliament, local media reported on Tuesday.
The bill proposed a new voluntary quality assurance scheme for private education institutions, local radio 938Live reported.
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SINGAPORE, Aug. 18 (Xinhua) -- Singapore's Education Ministry has introduced a new private education bill in parliament, local media reported on Tuesday.
The bill proposed a new voluntary quality assurance scheme for private education institutions, local radio 938Live reported.
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Singapore's condo sales hit new record in July
Property-report.com, 18 Aug 2009
Singapore´s private property market hits a new record with 2, 767 units sold in July, data from the Urban Redevelopment Authority (URA) shows.
Jones Lang LaSalle notes that this is the highest monthly sales volume recorded since the URA started tracking these numbers in June 2007, breaking June´s record of 1, 825 units by some 51.6 percent.
On a year-on-year comparison, it was an improvement of 206.8 percent.
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Singapore´s private property market hits a new record with 2, 767 units sold in July, data from the Urban Redevelopment Authority (URA) shows.
Jones Lang LaSalle notes that this is the highest monthly sales volume recorded since the URA started tracking these numbers in June 2007, breaking June´s record of 1, 825 units by some 51.6 percent.
On a year-on-year comparison, it was an improvement of 206.8 percent.
Read More
Singapore Airlines Premium Traffic Continues to Wane
GLG News, 17 Aug 2009
On the face of it, Singapore Airlines July 2009 traffic figures make for an interesting read.
Overall system load factor was up 1.1% to 69.7% YoY, but this disguises the torment the big Asian carrier is suffering while yield erosion shows no sign of stopping.
Singapore Airlines load factors still languish around 5% behind the IATA industry average – demonstrating that adding new airplanes with excessive/inflexible capacity such as the A380 are now hurting operations and the bottom line. No carrier can stay cash-rich forever; British Airways will testify.
Read More
On the face of it, Singapore Airlines July 2009 traffic figures make for an interesting read.
Overall system load factor was up 1.1% to 69.7% YoY, but this disguises the torment the big Asian carrier is suffering while yield erosion shows no sign of stopping.
Singapore Airlines load factors still languish around 5% behind the IATA industry average – demonstrating that adding new airplanes with excessive/inflexible capacity such as the A380 are now hurting operations and the bottom line. No carrier can stay cash-rich forever; British Airways will testify.
Read More
Singapore Jumpstarting Electric Vehicles
CleanTechnica.com, 17 Aug 2009
Singapore will be testbedding electric vehicles starting next year. A task-force of its leading organizations and agencies related to electric vehicles will conduct extensive work identifying the needs and possibilities of these vehicles.
The task-force is chaired by the Energy Market Authority (EMA) and the Land Transport Authority (LTA). It will also include the Agency for Science, Technology and Research (A*STAR), the Economic Development Board (EDB), and the National Environment Agency (NEA). The testbed will also include any auto or technology companies who are interested in the matter.
Read More
Singapore will be testbedding electric vehicles starting next year. A task-force of its leading organizations and agencies related to electric vehicles will conduct extensive work identifying the needs and possibilities of these vehicles.
The task-force is chaired by the Energy Market Authority (EMA) and the Land Transport Authority (LTA). It will also include the Agency for Science, Technology and Research (A*STAR), the Economic Development Board (EDB), and the National Environment Agency (NEA). The testbed will also include any auto or technology companies who are interested in the matter.
Read More
Singapore launches first solar charging station
CCTV.com, 18 Aug 2009
SINGAPORE, Aug. 17 (Xinhua) -- Singapore launched on Monday the first electric vehicle charging station that harnesses energy straight from the sun.
According to the website of English newspaper Straits Times, the electric vehicle charging station was located at the Singapore Polytechnic, it is an expansion of Greenlots, a network of charging spots for electric vehicles launched in March.
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SINGAPORE, Aug. 17 (Xinhua) -- Singapore launched on Monday the first electric vehicle charging station that harnesses energy straight from the sun.
According to the website of English newspaper Straits Times, the electric vehicle charging station was located at the Singapore Polytechnic, it is an expansion of Greenlots, a network of charging spots for electric vehicles launched in March.
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Chinese vice premier to visit Singapore
People's Daily Online, 17 Aug 2009
Chinese vice Premier Wang Qishan will visit Singapore from Aug. 23 to 26 at the invitation of his Singaporean counterpart Wong Kan Seng, foreign ministry spokesman Qin Gang announced here Monday.
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Related:
Chinese vice premier to visit Singapore - CCTV.com
Chinese vice Premier Wang Qishan will visit Singapore from Aug. 23 to 26 at the invitation of his Singaporean counterpart Wong Kan Seng, foreign ministry spokesman Qin Gang announced here Monday.
Read More
Related:
Chinese vice premier to visit Singapore - CCTV.com
Singapore govt to face query on Goodyear exit
Business Times (Malaysia), 18 Aug 2009
SINGAPORE: Singapore's government will be quizzed by lawmakers today over the unexpected departure of former BHP Billiton Plc chief executive officer Charles "Chip" Goodyear, who was to have taken the helm at Temasek Holdings Pte.
Finance minister Tharman Shanmugaratnam will be asked at the start of the parliamentary session why Goodyear quit so suddenly last month, what his compensation was and if there is a deadline for the search for a CEO to replace Ho Ching at the US$114 billion (US$1 = RM3.54) state-run investment fund, according to an order paper that outlines the agenda for tomorrow's session.
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SINGAPORE: Singapore's government will be quizzed by lawmakers today over the unexpected departure of former BHP Billiton Plc chief executive officer Charles "Chip" Goodyear, who was to have taken the helm at Temasek Holdings Pte.
Finance minister Tharman Shanmugaratnam will be asked at the start of the parliamentary session why Goodyear quit so suddenly last month, what his compensation was and if there is a deadline for the search for a CEO to replace Ho Ching at the US$114 billion (US$1 = RM3.54) state-run investment fund, according to an order paper that outlines the agenda for tomorrow's session.
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Asia's Water Crisis
Asia Sentinel, 18 Aug 2009
Another contributor to poverty looms.
Asia faces a water usage crisis which, if not addressed urgently, will cause food shortages and sharply higher prices in the not too distant future. That is the conclusion of a study being published this week by the International Water Management Institute in conjunction with the Asian Development Bank and the UN Food and Agriculture Organization. And that, says the report, is without taking account of the impact of climate change on rainfall patterns.
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Another contributor to poverty looms.
Asia faces a water usage crisis which, if not addressed urgently, will cause food shortages and sharply higher prices in the not too distant future. That is the conclusion of a study being published this week by the International Water Management Institute in conjunction with the Asian Development Bank and the UN Food and Agriculture Organization. And that, says the report, is without taking account of the impact of climate change on rainfall patterns.
Read More
Report: N Korean official on mystery ship berthed in Singapore on 30 Jun 09
TIMESNOW.tv, 17 Aug 2009
There are reports that a North Korean governmnet official could be amongst the 39 crew memebers detained on the cargo ship MV Mu San. Indian intelligence agencies are also investigating the reason why the ship berthed in Singapore on June 30, though it was not a port of call in the logbook.
MV Mu San, which left Thailand on July 27, reached Singapore on July 30 and left for Hut Bay on July 31. But, the passports of the crew were not stamped in Singapore.
The interrogation of the ship's captain, Yon Jung Sun, and the presence of a government official in a merchant ship has raised suspicions about the vessel.
The Indian Coast Guard detained the North Korean vessel after chasing the vessel for over six-hours near Andaman and Nicobar Islands on August 6.
Link
There are reports that a North Korean governmnet official could be amongst the 39 crew memebers detained on the cargo ship MV Mu San. Indian intelligence agencies are also investigating the reason why the ship berthed in Singapore on June 30, though it was not a port of call in the logbook.
MV Mu San, which left Thailand on July 27, reached Singapore on July 30 and left for Hut Bay on July 31. But, the passports of the crew were not stamped in Singapore.
The interrogation of the ship's captain, Yon Jung Sun, and the presence of a government official in a merchant ship has raised suspicions about the vessel.
The Indian Coast Guard detained the North Korean vessel after chasing the vessel for over six-hours near Andaman and Nicobar Islands on August 6.
Link
Singapore's key exports fell the least in ten months in July
Earth Times, 17 Aug 2009
Singapore - Singapore's key exports fell the least in 10 months in July and bounced back from a decrease in June, government data released Monday showed, suggesting that the city-state's economy was on track to recover from its worst recession in more than four decades. In July, Singapore's non-oil exports fell a 15th consecutive month year-on-year, but the 8.5-per-cent contraction was the smallest drop since September 2008, said International Enterprise Singapore, the city-state's agency to promote external business.
Read More
Related:
Decline in Singapore exports slows down in July - Lanka Business Online
Fall in Singapore's Exports Slows - The Wall Street Journal
Singapore's drop in exports slows in July - Newsday.com
Singapore non-oil exports up 6pc in July - Business Times (Malaysia)
Singapore's drop in exports slows in July - MSN Money
Singapore Non-Oil Domestic Exports Rise In July - RTTNews
Non-oil exports in Singapore recovering - Gulfnews.com
Decline in Singapore exports slows down in July - Daily Times
Singapore - Singapore's key exports fell the least in 10 months in July and bounced back from a decrease in June, government data released Monday showed, suggesting that the city-state's economy was on track to recover from its worst recession in more than four decades. In July, Singapore's non-oil exports fell a 15th consecutive month year-on-year, but the 8.5-per-cent contraction was the smallest drop since September 2008, said International Enterprise Singapore, the city-state's agency to promote external business.
Read More
Related:
Decline in Singapore exports slows down in July - Lanka Business Online
Fall in Singapore's Exports Slows - The Wall Street Journal
Singapore's drop in exports slows in July - Newsday.com
Singapore non-oil exports up 6pc in July - Business Times (Malaysia)
Singapore's drop in exports slows in July - MSN Money
Singapore Non-Oil Domestic Exports Rise In July - RTTNews
Non-oil exports in Singapore recovering - Gulfnews.com
Decline in Singapore exports slows down in July - Daily Times
Almost 1.3 Million Tons Gasoil Stored Off Singapore -Shipbrokers
Nasdaq
SINGAPORE -(Dow Jones)- As much as 1.3 million metric tons of Asian gasoil is in floating storage off the coast of Singapore, as traders continue to take advantage of the widening difference between prompt and forward prices of the fuel in the Far East, according to shipbrokers.
The latest ships, which include one Large Range-1, three LR-2s and a Suezmax tanker, are carrying a combined 455,000 tons of gasoil, according to Europe- and Singapore-based shipbrokers.
Read More
SINGAPORE -(Dow Jones)- As much as 1.3 million metric tons of Asian gasoil is in floating storage off the coast of Singapore, as traders continue to take advantage of the widening difference between prompt and forward prices of the fuel in the Far East, according to shipbrokers.
The latest ships, which include one Large Range-1, three LR-2s and a Suezmax tanker, are carrying a combined 455,000 tons of gasoil, according to Europe- and Singapore-based shipbrokers.
Read More
Fall in shipping volume eases at Singapore's Neptune Lines
Monsters and Critics, 17 Aug 2009
Singapore - The fall in shipping volume eased at Singapore's Neptune Orient Lines (NOL), the company said Monday, but average revenue per container slumped year-on-year in July.
NOL, one of the largest container shippers worldwide, said its cargo volume for the four weeks to July 24 reached 187,400 40-foot-equivalent units (FEU), down by 11 per cent from 209,800 FEU in the same period 2008.
Read More
Related:
NOL moves 11 pct less cargo in 4 weeks to July 24 - Reuters
Fall in shipping volume eases at Singapore's Neptune Lines - Earth Times
Singapore - The fall in shipping volume eased at Singapore's Neptune Orient Lines (NOL), the company said Monday, but average revenue per container slumped year-on-year in July.
NOL, one of the largest container shippers worldwide, said its cargo volume for the four weeks to July 24 reached 187,400 40-foot-equivalent units (FEU), down by 11 per cent from 209,800 FEU in the same period 2008.
Read More
Related:
NOL moves 11 pct less cargo in 4 weeks to July 24 - Reuters
Fall in shipping volume eases at Singapore's Neptune Lines - Earth Times
Singapore Airlines reports slight drop in passenger load in July
TradingMarkets.com, 17 Aug 2009
Singapore Airlines (SIA) said that its passenger load for July was at 79.7 percent, a 1.3 percentage point decline from a year ago, local media reported on Monday.
According to local radio 938live, the airline said the ongoing global economic slowdown continues to impact travel demand. With the exception of East and West Asia and Africa, all route regions registered lower passenger loads compared to last year.
Read More
Related:
Singapore Air says July load factor at 69.7 pct - Reuters India
Singapore Airlines’ traffic may have hit bottom, but load factors still falling - Centre for Asia Pacific Aviation
Singapore Airlines (SIA) said that its passenger load for July was at 79.7 percent, a 1.3 percentage point decline from a year ago, local media reported on Monday.
According to local radio 938live, the airline said the ongoing global economic slowdown continues to impact travel demand. With the exception of East and West Asia and Africa, all route regions registered lower passenger loads compared to last year.
Read More
Related:
Singapore Air says July load factor at 69.7 pct - Reuters India
Singapore Airlines’ traffic may have hit bottom, but load factors still falling - Centre for Asia Pacific Aviation
Singapore July private home sales soar to record high
Reuters, 17 Aug 2009
SINGAPORE, Aug 17 (Reuters) - Private home sales in Singapore soared to a record high for the second straight month in July, indicating increased confidence and speculation in the city-state's property market, government data showed on Monday.
The Urban Redevelopment Authority (URA) website showed developers sold 2,767 private homes in July, smashing the previous monthly record of 1,825 units that was set in June.
Read More
Related:
Singapore July private home sales soar to record high - The Malaysian Insider
SINGAPORE, Aug 17 (Reuters) - Private home sales in Singapore soared to a record high for the second straight month in July, indicating increased confidence and speculation in the city-state's property market, government data showed on Monday.
The Urban Redevelopment Authority (URA) website showed developers sold 2,767 private homes in July, smashing the previous monthly record of 1,825 units that was set in June.
Read More
Related:
Singapore July private home sales soar to record high - The Malaysian Insider
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