People's Association Awards Multi-Million Dollar Contract To Indian Company

CXOtoday.com, 30 Sep 2009
Tata Consultancy Services announced that it has been chosen by Singapore's People's Association to provide annual Application Management Services (AMS) for two years. The deal is reportedly a multi-million dollar one in which the People's Association -- a grassroots government organization in Singapore -- will have its citizen-centric and mission critical applications maintained by TCS.
Full Story

Related:
TCS inks outsourcing deal with Singapore firm - The Economic Times
TCS signs deal with Singapore People’s Association - The Hindu

Singapore to Form National Cyber-security Agency

PCWorld, 30 Sep 2009
Singapore will set up a government agency, the Singapore Infocomm Technology Security Authority (SITSA), to handle technology-related threats to the city-state's national security, a government minister said Wednesday.
"It will be the specialist authority to deal with threats to national security, especially external threats such as cyber-terrorism and cyber-espionage," said K. Shanmugam, Singapore's minister for law and second minister for home affairs, according to a transcript of his speech.
Full Story

Related:
Singapore to form national cyber-security agency - CIO.de
Singapore sets up body to prevent cyber-attacks - AFP
Singapore govt sets up unit to fight cyber-threats - The Star Online
Singapore sets up body to prevent cyber-attacks - MSN Malaysia News
Singapore to form national cyber-security agency - ARN
Singapore Sets Up New Agency To Combat Cyber Threats - Bernama.com

Singapore Airlines revamps site to improve user experience

New Media Age, 30 Sep 2009
Singapore Airlines is to relaunch its global website to enable users to book tickets and travel-related products in a single transaction.
The changes aim to reflect its positioning as a world-leading airline and enhance its global site as it becomes a key sales channel.
Full Story

Indian Firms Better At Grooming Their Own Talents Than Singapore

The Malaysian Insider, 30 Sep 2009
Indian businesses seem to do better in building talent than their counterparts in Singapore, Hong Kong and Greater China, according to a study to be presented today at the Singapore Human Capital Summit.
In 11 critical talent areas that help attract, build and retain managerial talent and high potential in companies, Indian businesses scored the most in nearly all of them.
Full Story

Brunei banned club from playing in Singapore's S league

Yahoo!Xtra Sports, 30 Sep 2009
Brunei Darussalam's Football Association (BAFA) has been suspended indefinitely due to government intervention, effectively banning club side Brunei DPMM from playing in Singapore's S-League, FIFA said on Tuesday.
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Related:
FIFA suspends Brunei for government interference - AFP

Tsunami flattens villages in American Samoa, more than 100 possibly killed

Radio Australia News, 30 Sep 2009
Samoa's Disaster Management Office says 100 people may have been killed by this morning's earthquake and subsequent tsunami.
The tsunami was caused by a powerful 8.3 magnitude earthquake, which struck 200 kilometres off the coast of American Samoa.
Witnesses say the wave flattened villages swept dozens of people out to sea.
Full Story

S'pore M1 Money Supply In Aug 09 Up 21% Over Last Year

Nasdaq

          August '09       Year Ago      July '09
M1       S$89.26 Bln    S$73.53 Bln    S$87.98 Bln
M2       S$357.86 Bln   S$317.78 Bln   S$358.46 Bln
M3       S$365.54 Bln   S$326.92 Bln   S$366.33 Bln

Full Story

Ex-Reform Party Member Arrested & Waiting For Extradiction To Sri Lanka

LankaWeb, 29 Sep 2009
Singapore’s former Reform Party Man who was a powerful committee member of the party Balraj Naidu has been arrested and produced in court for an extradition hearing over an alleged arms deal with Sri Lanka’s Liberation Tigers of Tamil Eelam (LTTE).
The businessman is wanted by the United States government on two terrorism related charges . He is also wanted by the US for allegedly brokering arms deals with the terrorist group the Liberation Tigers of Tamil Eelam (LTTE).No formal charges have been laid against him so far.
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SIA Forces Airbus To Push Back Delivery Of An A380

The Wall Street Journal, 30 Sep 2009
Commercial aircraft builder Airbus has agreed with a customer to push back the delivery of an A380 superjumbo to January from December, a spokesman for the Toulouse, France-based company said Tuesday.
The Airbus official declined to identify the airline that has requested the delivery delay. However, a person with knowledge of the industry said that it is Singapore Airlines.
Full Story

GIC Sticks to UBS, Citigroup Investments on Long-Term Prospects

Bloomberg.com, 29 Sep 2009
Sept. 29 (Bloomberg) -- Government of Singapore Investment Corp. said it is confident about the long-term prospects of UBS AG and Citigroup Inc. as the banks overcome challenges returning to profit.
The manager of more than $100 billion of the city’s foreign reserves is still losing money on its holding in UBS, Switzerland’s biggest bank by assets, and has made a profit on its investment in Citigroup, GIC said in its annual report today.
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GIC's Tan eyes profit from protecting downside

Reuters India, 29 Sep 2009
SINGAPORE, Sept 29 (Reuters) - Tony Tan, the man leading Singapore's biggest sovereign wealth fund, is no longer the doomsdayer he was more than a year ago when he warned that the global economy could face its worst recession in 30 years.
Tan and his team at the Government of Singapore Investment Corp (GIC) are now looking at emerging markets with cautious optimism and have built up a warchest for deals -- with 8 percent of an estimated $200 billion plus of assets in cash.
Full Story

Cash Rich GIC Heads to Emerging Markets

The Jakarta Globe, 29 Sep 2009
Singapore. Singapore’s GIC, the world’s fourth-biggest sovereign wealth fund, is ready to use its bigger cash pile to buy into emerging markets and alternative investments such as real estate and natural resources, but warned that bonds may not be safe due to inflation risks.
The strategy of the Government of Singapore Investment Corporation, the larger of the city-state’s two wealth funds with an estimated $200 billion or more, appears to be evolving as it cut its equity and bond holdings to increase its exposure to alternatives like property and resources.
Full Story

Related:
Wealth fund GIC's assets recover, eyes emerging mkts - Reuters
GIC signals shift to emerging markets - Financial Times

Russia to Invite Singapore to Invest in State Companies

Bloomberg.com, 29 Sep 2009
Sept. 29 (Bloomberg) -- The Russian government will invite Singaporean investors to take stakes in selected state-owned companies to boost the country’s privitization plans, Deputy Prime Minister Igor Shuvalov said in Singapore today. He was speaking at the Russia-Singapore Business Forum in the city- state and his comments were translated.
Link

Singapore, Russia partner to tap opportunities in world

Xinhua, 29 Sep 2009
SINGAPORE, Sept. 29 (Xinhua) -- With Singapore's strong connections in this region, Russia can make use of Singapore as its springboard to reach out to this dynamic market, a senior Singapore official said on Tuesday.
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Singapore Tourism Board launches ‘2009 reasons to meet in Singapore’ campaign to draw MICE traffic from India

TravelBizMonitor.com, 29 Sep 2009
The Singapore Tourism Board (STB) recently launched ‘2009 reasons to meet in Singapore’, a MICE focused campaign under the ‘Building on Opportunities to Strengthen Tourism’ or ‘BOOST initiative. The campaign’s key objective is to encourage business travellers to visit Singapore and enhance Singapore’s proposition as a value-for-money destination.
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NTU professor receives Friendship Award from China

Physorg.org, 29 Sep 2009
Professor Francois Raymond Mathey, a Nanyang Professor at Nanyang Technological University (NTU)'s School of Physical and Mathematical Sciences, has been awarded the People's Republic of China (PRC)'s highest award for foreign experts - the Friendship Award. This is China's most prestigious award for foreign experts who have made outstanding contributions to China's economic and social progress.
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China-born NTU assistant professor wins Young Scientist Award

Eurekalert.org, 28 Sep 2009
A 34-year-old Physics lecturer from the Nanyang Technological University (NTU) received the Young Scientist Award for his research on metal oxide nanostructures and graphene, which are used to develop nanodevices and harvest energy.
Dr Yu Ting, who won in the Physical, Information and Engineering Services category of the Young Scientist Award, is an Assistant Professor with the Division of Physics and Applied Physics at NTU's School of Physical and Mathematical Sciences.
Full Story

Temasek Suffers 50% Loss Selling Entire Stake On Fame India

VCCircle.com 26 Sep 2009
Singapore’s sovereign wealth fund Temasek Holdings' has exited its investment in multiplex chain Fame India in two bulk deals on Friday.
The stake was then acquired at a share price of more than Rs 62.50. The stake was held by Temasek through two of its subsidiaries - Aranda Investments Mauritius Pte Ltd and Dunearn Investments Mauritius Pte Ltd. The shares of Fame India closed at Rs 30.75 on Friday, up by over 5%.
Full Story

Related:
Temasek exits Fame India - Reuters India

Singapore GIC Lost Around S$59 Bln In FY09

The Wall Street Journal, 28 Sep 2009
SINGAPORE (Dow Jones)--Government of Singapore Investment Corp. suffered a loss around S$59 billion in the fiscal year ended March, making it one of the worst years for the sovereign wealth fund since it was established in 1981, a person familiar with the situation said Tuesday.
"The equities investments suffered the most, followed by falls in property valuations. It was one of the worst years ever," the person told Dow Jones Newswires.
The person said GIC's portfolio now stands around S$265 billion.
Full Story

Related:
GIC Says Investments Drop 20%, UBS Stake Has Loss - Bloomberg.com
GIC portfolio falls over 20 pct in 08/09 - Reuters
GIC looks to Asia and emerging markets - Financial Times
Singapore's GIC says portfolio lost over 20 pct - AFP
Singapore's GIC recovers after last year loss - The Associated Press
Singapore's GIC investments plunge 20% in fiscal 2009 - MarketWatch
Singapore's GIC recovers after last year loss - eTaiwan News
Singapore Weatlh Fund Says Investments Fell 20% in Year - The New York Times
Singapore GIC down 20% - Global Pensions
Singapore's GIC suffers $41.6bn loss - efinancialnews.com
Wealth fund GIC's assets recover - Reuters UK
Singapore's GIC suffers $41.6bn loss - Wealth Bulletin
Singapore loses out as UBS stumbles - Brisbanetimes.com.au
Singapore's GIC's Portfolio Suffers Loss In Fiscal 2009 - Nasdaq
GIC reports 20% drop in asset value in latest fiscal year - FinanceAsia.com

Singapore calls for "effectiveness, inclusiveness" in G20

Xinhua, 29 Sep 2009
Following last week's G20 Summit in Pittsburgh, the U.S., Singapore's foreign minister George Yeo said here Monday that for an effective G-20 process, there must be a greater representation of smaller states.
"A balance has to be struck between effectiveness and inclusiveness," he said in his address to the UN General Assembly in the annual general debate.
Full Story

Elusive Singapore government-owned asset management company GIC investing more than $1 billion in new Chinese companies

Opalesque, 28 Sep 2009
The Government of Singapore Investment Corp. (GIC) Special Investments is investing more than $1 billion in a private equity fund targeting new start-up companies in China, an industry source told Opalesque.
GIC will make said investments in CDH in partnership with the International Finance Corp.--the private sector arm of the World Bank.
CDH, the private equity fund which GIC is investing in, is managed by CDH Investments, an international alternative asset fund manager with more than $2 billion of committed capital under management.
Link

Singapore's population reaches 4.99 mln

People's Daily Online, 28 Sep 2009
Singapore's total population reached 4.99 million at the end of June this year, according to data from Singapore's Department of Statistics on Monday.
This comprises 3.73 million Singapore residents and 1.25 million non-residents.
Singapore residents, comprising Singapore citizens and Singapore permanent residents, formed 75 percent of total population.
The total population grew 3.1 percent in 2009 over the previous year.
Link

Related:
Foreigners boost Singapore population: government - The China Post
Singapore population nears 5 mln, immigrants rise - Forbes.com

Burma's Political Prisoner Pretense

Asia Sentinel, 28 Sep 2009
The junta seeks to raise its credibility with the United Nations
Although Burma's military rulers have released more than 7,000 prisoners in the last few days as part of their preparations for next year's planned polls, many critics believe it is really a political ploy to ease pressure on them at the UN General Assembly. Most are petty criminals, although around 200 political prisoners are amongst those freed.
Some analysts also believe that these releases are intended to increase the credibility of next year's multi-party elections – the first in 20 years. The regime has been constantly told that the polls are critical for Burma's relations with its neighbors and the world as a whole. The polls are dominating everything in Burma at the moment – even though the voting date is yet to be announced, according to diplomats and businessmen in Rangoon.
Full Story

Jetstar defends Myanmar flights From Singapore

AFP
Australian budget airline Jetstar defended its flights into Myanmar on Monday after rights campaigners said the service was helping prop up the country's military regime.
Jetstar defended its four weekly flights from Singapore to Yangon as a "positive for the people of Myanmar" and denied making payments to officials in the Southeast Asian country.
Singapore-registered Jetstar Asia, a Jetstar affiliate, was one of eight companies named by Burma Campaign Australia -- which uses Myanmar's old name -- as directly or indirectly backing the junta to the tune of up to 2.8 billion US dollars in revenue.
Full Story

Singapore visitor arrivals fall 0.7 pct in August

Reuters, 28 Sep 2009
SINGAPORE, Sept 28 (Reuters) - Visitor arrivals in Singapore fell 0.7 percent in August from a year ago, the smallest drop this year, the Singapore Tourism Board (STB) said on Monday.
It said in a statement that 844,000 people visited the city-state last month, while the total number of days spent by tourists in Singapore fell 7.9 percent to 3.5 million days.
Full Story

Related:
Tourists coming back to Singapore, but hotels still suffering - Monsters and Critics
Singapore posts marginal decline in visitor arrivals – TheMoodieReport.com

Singapore sends humanitarian assistance to Philippines

Xinhua, 28 Sep 2009
SINGAPORE, Sept. 28 (Xinhua) -- The Singapore government will send humanitarian relief supplies worth 30,000 U.S. dollars to the typhoon-hit Philippines.
Full Story

Singapore ties up with Russian state on infocomm

Xinhua, 28 Sep 2009
SINGAPORE, Sept. 28 (Xinhua) -- Singapore has inked a landmark Memorandum of Understanding (MOU) with a Russian state on infocomm, Singapore's pro-enterprise agency said on Monday.
The Republic of Tatarstan (Tatarstan) will be a partner of Singapore's company IDA International in its eGovernment projects, according to a statement by International Enterprise Singapore.
Full Story

Russian Aluminium Producer Woo Cash-Rich Temask As Cornerstone Investor

Reuters, 28 Sep 2009
Russia's Rusal, the world's top aluminium producer controlled by Russian businessman Oleg Deripaska, is ready to file a prospectus for a Hong Kong listing, which will value the firm at $30 billion, the Sunday Times said.
The company is talking with several sovereign wealth funds, including China Investment Corp and Singapore's Temasek, in the hopes of signing them as cornerstone investors in the deal, the paper reported.
Full Story

Singaporean Film Director Signs With Convergence Entertainment

Hollywoodreporter.com, 27 Sep 2009
HONG KONG -- Singaporean director Chai Yee-wei has signed an international representation deal with Los Angeles-based management and production company Convergence Entertainment.
Chai recently completed his first feature "Blood Ties," and joins other Asian directors Tsui Hark ("Seven Swords"), Gordon Chan ("Fist of Legend," "Painted Skin") Shunji Iwai ("Love Letter," "New York I Love You") and "The Chaser" screenwriter Shinho Lee on Convergence's roster.
Full Story

Related:
Convergence signs up Singapore’s Chai Yee-wei -Screendaily.com

Resale HDB prices increased by 38 percent; 40 percent of buyers PR

H88.com.sg, 24 Sep 2009
Prices of resale HDB flats have shot up 38% over the past three-and-a-half years according to Eugene Lim, associate director, ERA Asia-Pacific. But what's shocking is that 40% of buyers are made up of Permanent Residents according to recent ERA's resale transactions.

• "The government's target population of 6.5 million is steadily increasing the pool of PRs; and they have to buy their HDB homes from the resale market as they do not qualify to buy new flats directly from HDB. ERA's resale transactions show that PR buyers make up some 40 per cent compared to 20 per cent three years ago." - Eugene Lim, assosiate director, ERA Asia-Pacific.

Full Story

Engine fails On SIA A380 In Paris, Plane Forced To Turn Around In Mid-Flight

Reuters, 28 Sep 2009
An Air Singapore A380 was forced to turn round mid-flight and head back to Paris on Sunday after one of its four engines failed, the head of the airline's French operations said.
The doubledecker A380 took off from Paris at 12.30 p.m. (1030 GMT) with 444 passengers aboard and was headed for Singapore, but had to turn round after 2 hours 45 minutes because of the engine problem, airline director Jerry Seah said.
Full Story

Related:
Engine failure causes havoc on Singapore Air flight - eTravelBlackboard.com
Motor fails on Singapore Airbus flight - TVNZ
Engine problems for Singapore Airlines jet - AFP
Engine failure on Singapore Airlines jet - Travelbite.co.uk
Singapore Airlines probes A380 problem - MSN Philippines News
Singapore A380 Engine Failure Forces Flight Return - Bloomberg.com
Singapore Airlines A380 turns back after engine failure - The Age

Singapore within touching distance of OECD white list

The Malaysian Insider, 28 Sep 2009
SINGAPORE, Sept 28 — Singapore has now signed nine of the 12 tax treaties that it needs to get off the “grey list” of the Organisation for Economic Cooperation and Development (OECD) and onto the white. These treaties are compliant with the internationally-agreed tax standard on exchange of information (EOI).
Full Story

William Safire, Times Columnist, Is Dead at 79

The New York Times, 27 Sep 2009
William Safire, a speechwriter for President Richard M. Nixon and a Pulitzer Prize-winning political columnist for The New York Times who also wrote novels, books on politics and a Malaprop’s treasury of articles on language, died at a hospice in Rockville, Md., on Sunday. He was 79.
Full Story

Related:
William Safire: Pundit, Provocateur, Penman - Time.com

Singapore and Malaysia poles apart in promoting F1

The Star Online, 28 Sep 2009
THE Singapore F1 was truly undertaken in great style and I must say that they did an excellent job of promoting the sport and business.
From mid-week onwards, local televison station Chanel 5 started a whole series on past and present F1 drivers. This was then followed by live trial runs over local television, city parades of F1 drivers and merchandise sales at shopping malls and along Orchard Road.
Full Story

OPINION: Singapore GP Or an Expensive Merri-Go-Round? - Dev Kumar

Bleacher Report, 27 Sep 2009
Well i was pretty much bored watching the entire race, though commentators tried their best to make this Singapore GP aka Singapore F1 Merri-Go-Round sound some super exciting stuff... but frankly i felt along with Valencia this was a very boring race.... there was hardly any racing... just follow the car ahead... well unless someone made a mistake i.e.
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Hamilton wins Singapore GP

Grandprix.com, 27 Sep 2009
Lewis Hamilton won the Singapore Grand Prix today in dominating fashion in his McLaren-Mercedes. Timo Glock in his Toyota was second, 9.6 seconds behind, followed by Fernando Alonso in his Renault in third place, 16.6 seconds back.
Full Story

Related:
Hamilton cruises to victory - Sky Sports
F1: Hamilton cruises to victory - teletext.co.uk
Hamilton cruises to Singapore GP win - autosports.com
Hamilton takes Singapore win - CBBC Newsround
Formula One: Hamilton wins Singapore Grand Prix - The Sydney Morning Herald
Hamilton wins Singapore Grand Prix - Reuters UK
Lewis Hamilton wins Singapore Grand Prix as Jenson Button increases F1 lead - Telegraph.co.uk
Singapore GP: Dominant Display From Hamilton - PlanetF1.com
Lewis Hamilton triumphs at the Singapore Grand Prix - Times Online
Hamilton takes Singapore Grand Prix - Earthtimes.org
Hamilton wins Singapore GP - Crash.net
Hamilton storms to flawless win in Singapore - F1 Times
Formula One: Hamilton wins Singapore Grand Prix - brisbanetimes.com.au
Lewis Hamilton wins Singapore grand prix as title battle hots up for Brawn - guardian.co.uk
Hamilton wins Singapore GP, Button extends lead - USA Today
Formula One: Hamilton wins Singapore Grand Prix - AFP
Hamilton takes dominant Singapore win - itv-f1.com
Hamilton wins Singapore Grand Prix - RTE Sports
Hamilton wins Singapore GP, Button extends lead - SI.com
Hamilton wins Singapore GP, Button extends lead - The Associated Press
Hamilton wins Singapore Grand Prix - Rediff.com
Boost for Button as Hamilton wins - BBC Sport
Hamilton wins under lights - The Press Association
Hamilton cruises to victory in Singapore - CNN.com
Lewis Hamilton wins Singapore Grand Prix - Mirror.co.uk
Motor racing-Singapore Grand Prix result - Reuters UK

GIC moving more money into property and Asian assets

Zikkir.com, 25 Sep 2009
The Government of Singapore Investment Corp (GIC), a $200 billion-plus sovereign wealth fund, will likely reveal next week it is moving more money into property, resources and Asian assets after recently cutting its exposure to major Western banks.
About 44 percent of GIC’s portfolio was in stocks and another 26 percent in fixed income at end-March 2008.
Analysts said GIC may park more money into physical property, which accounted for 10 percent of assets last year, and may have stepped up its investment in natural resources, which accounted for just 2 percent of assets.
Full Story

Singapore's economy in stable position: Lee Hsien Loong

Xinhua, 27 Sep 2009
SINGAPORE, Sept. 26 (Xinhua) -- Singapore Prime Minister Lee Hsien Loong said on Saturday that the country's economy is in a stable position as it has passed the most difficult part of the economic downturn.
According to local TV broadcaster Channel NewsAsia, Lee spoke at a lantern festival celebration that Singapore's economy will be all right this year and even better next year.
Full Story

OPINION: S'poreans playing second fiddle to foreigners despite having a birthright - Seah Chiang Nee

The Star Online, 26 Sep 2009
AN ELECTRONICS firm that advertised last week for a “preferably non-Singaporean” engineer has added fuel to a worsening controversy in this migrant city.
It particularly stipulated that “permanent residents are welcome” to apply for this “mid-career job (salary negotiable)”.
A copy of the advertisement found its way onto the web.
Applicants should have a diploma or a relevant trade certificate, with 3-5 years’ work experience, and “preferably non-Singaporean (PR welcome),” it added.
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Lewis Hamilton lashes out at 'dangerous' Singapore circuit

Reuters India, 26 Sep 2009
SINGAPORE (Reuters) - Formula One world champion Lewis Hamilton took a swipe at Singapore's street circuit before qualifying on Saturday, calling the city-state's track "very dangerous".
The McLaren driver, out of contention for this year's title, complained that the road circuit was dusty and bumpy and that improvements promised last year had not been implemented.
Hamilton also hit out at changes made to the chicane on turn 10, where curbs had been built up.
"It's a lot worse than last year," Hamilton said. "Last year, it was a weird little corner anyway but it was quite good -- a quick left, right, left. Now it's big, fat curbs and there's no runoff, so it's very dangerous.
Full Story

Related:
Hamilton critical of Singapore course - ESPN

Switching sex partners a hit with Singaporeans

The Star Online, 26 Sep 2009
SINGAPOREANS are flocking to a website to change sex partners, Sin Chew Daily reported.
The daily reported that so far, 49 couples had signed up at the website.
Among the categories available were men seeking women, women seeking men, and where same sex partners are available.
“The majority of those who signed up stressed that they were only looking for sex, not love,” reported the daily.
Full Story

Related:
Now, a website that offers change of sex partners! - The Times of India

Sources Reveal Temasek Sold Its Stake In Loss-Making Exhibitor Fame India

Contentsutra.com, 25 Sep 2009
Exhibitor Fame India (Formerly Shringar Cinemas Ltd) rose 4.95% to close at Rs30.75 even as the benchmark Sensex closed down 0.53%, or 88 points from its previous close on the Bombay Stock Exchange. The Fame India scrip touched an intra-day high of Rs30.9, following a block deal for 46.95 lakh shares, representing a 13.5% stake in the company, reports CNBC TV18.
While the identity of the seller would not be officially known till the next trading day (Tuesday), TV18, citing unnamed sources, reports that Temasek has sold its 13.49 stake in the company.
Full Story

Related:
Temasek offloads 13.5% in Fame India - Indiantelevision.com
Two cos buy Temasek's 13% in Fame for Rs 14 cr - The Economic Times
Temasek Exits Fame India - VCCircle

Grosjean crashes Renault on same Singapore turn as Nelson Piquet

Guardian.co.uk, 25 Sep 2009
In one of Formula One's more ironic moments, the Renault driver Romain Grosjean crashed his car during today's practice in Singapore at exactly the same spot at which Nelson Piquet Jr went into the wall during the 2008 grand prix dogged by the race-fixing saga.
"Sorry guys, I lost the car in turn 17," said the driver over the team radio after the accident that brought up memories of the incident last year which has dragged Formula One's name through the mud.
Full Story

Related:
More crash woe for Renault - The Sun
Renault driver Romain Grosjean crashes in to same Singapore wall as Nelson Piquet Jnr - Telegraph.co.uk
'Seriously, that corner?!' What Renault chiefs screamed as Romain Grosjean crashes into THAT wall in Singapore practice - Dailymail.co.uk

Americans going to Singapore for treatment

Treatment Abroad, 25 Sep 2009
An American medical tourism company expects to send up to 20 patients a month to Singapore next year.
PlanetHospital, a medical tourism company set up in 2002, sends more than 3000 patients a year overseas. So far, the company has sent about 30 patients there, as Singapore gains popularity as a medical destination. It has set up an office there.
Full Story

Singapore Completes Jurong Island's Reclamation

Bernama.com, 25 Sep 2009
SINGAPORE, Sept 25 (Bernama) -- A significant milestone in the history of Singapore's industrial development, Jurong Island's reclamation, has been completed on Friday.
Singapore's Minister for Trade and Industry Lim Hng Kiang who officiated at the completion ceremony, said that from an initial area of less than 1,000 hectare, Jurong Island now spans a land mass of about 3,000 hectare.
Full Story

Singapore's GIC to reveal strategy, war chest

Reuters, 25 Sep 2009
SINGAPORE, Sept 25 (Reuters) - Singapore's $200 billion-plus sovereign wealth fund GIC will likely reveal next week it is moving more money into property, resources and Asian assets after recently cutting its exposure to major Western banks.
The Government of Singapore Investment Corp, or GIC, is due to release its annual report for the year to March 2009, only the second year the fund will make the report public.
Full Story

Related:
FACTBOX-Singapore's GIC at a glance - Reuters India

Buy ringgit against Singapore dollar: ANZ

Business Times (Malaysia), 25 Sep 2009
Investors should buy the ringgit against the Singapore dollar because higher commodity prices will spur Malaysia’s economic recovery over the next six months, according to Australia & New Zealand Banking Group Ltd.
The ringgit may advance 2 per cent to 2.40 per Singapore dollar by the end of the first quarter of 2010 as increases in the prices of crude oil, palm oil and rubber will help Malaysia’s economy expand at a faster pace than its southern neighbour, strategist Yeo Han Sia said in a research note today.
Full Story

Complaint numbers rise among homebuyers in Singapore

Property-report.com, 25 Sep 2009
Recent figures have indicated that there has been a surge in the number of complaints related to real estate in Singapore.
The Consumers Association of Singapore said there has been a particular since May this year.
Full Story

OPINION: Singapore hopes for an end to its shame - Gitau Githinji

Gitaugrandprix, 24 Sep 2009
They must be spitting razors in Singapore’s corridors of power as I write this.
Singapore is perhaps the perfect example of what “enlightened dictatorship” is capable of achieving. The expression is often derided as oxymoronic but Singapore seems to prove that it is not. A prosperous first world economy was produced out of nothing in less than a single generation because a people collectively and willingly bowed to the will of a powerful and extremely clever lawyer, Mr Harry Lee Kuan Yew.
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Singapore Aug. Industrial Output Grows More Than Expected

RTTNews, 25 Sep 2009
Singapore's industrial output rose 12.3% in August on a yearly basis, slower than a revised 17% growth the previous month, the Economic Development Board Singapore said Friday. Economists expected a growth of just 5%. However, excluding the biomedical sector, output contracted 6.1%.
Full Story

Related:
Singapore manufacturing jumps 12 percent in August - Forbes.com
Singapore's factory output rises 12.3 percent - AFP

Singapore Government To Spend S$560 Million To Build, Upgrade Schools

Nasdaq
SINGAPORE -(Dow Jones)- The Singapore government said Friday it will spend about S$560 million to build new schools and upgrade existing ones.
The Ministry of Education said in a statement it will build 11 new primary schools and upgrade 28 existing ones. Work will start in November.
Full Story

Economic Terrorism in Southeast Asia: Is It a Threat?

Claimsjournal.com, 25 Sep 2009
Economic warfare is at the heart of the tactics of terrorism. A few militants with primitive and low-cost weaponry can cause economic destruction that reverberates far beyond the physical damage they inflict, impacting whole industries and countries.
But the overwhelming evidence from militant attacks over recent decades is that the impact is almost always temporary. In the long run, economies and markets are remarkably resilient.
Full Story

SIA Goes Dirt Cheap To Draw Tourists With US$1 Gimmick

etravelblackboardasia.com, 25 Sep 2009
Back by popular demand, Singapore Airlines offers the Fabulous Singapore Stopover Package for just US$1 for the first night stay in Singapore for passengers travelling beyond Singapore on any Singapore Airlines flights. Passengers are entitled to purchase US$1 Fabulous Singapore Stopover Package for travel from 15 September 2009 to 31 March 2010. Package includes hotel accommodation, airport-hotel transfers, unlimited SIA Hop-on Bus rides, SGD20 shopping voucher at Changi Airport, admission to key attractions and SingTel Hi Card. Fabulous Singapore Stopover package is available for sale until 15 November 2009.
Link

Eircom's future rests with conservative Asian Tiger fund

The Irish Times, 24 Sep 2009
THEIR RESPECTIVE climates may be very different, but Ireland and Singapore have much in common – two island economies with small populations, focused on technology business and biotech industries, wrestling with property issues, English-speaking, and dominated by one political party. Soon, they will have a telecoms provider in common, writes CLIFFORD COONAN in Singapore.
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Goodyear offers no new insight to his departure from Temasek in first public comment

Reuters, 24 Sep 2009
HONG KONG, Sept 24 (Reuters) - Former BHP Billiton (BHP.AX) CEO Charles "Chip" Goodyear confirmed that a divergence in strategy was behind his shock departure from Singapore sovereign wealth fund Temasek Holdings two months ago.
Goodyear, appearing relaxed and comfortable on stage at the CLSA-organised conference, said the Temasek news release at the time summed up his exit.
Full Story

Related:
Former BHP CEO says strategic vision led to Temasek split - London South East

Singapore Seeks More F-16 Training in U.S.

DefenceNews, 24 Sep 2009
Taipei - The Singapore Air Force plans to continue F-16 pilot training in the United States.
On Sept. 9, the U.S. Defense Security Cooperation Agency (DSCA) notified the U.S. Congress of two F-16 pilot training programs - a $250 million deal with Singapore to continue the Continental United States (CONUS) pilot proficiency training program for the Singapore Peace Carvin program at Luke Air Force Base, Ariz.; and a $75 million CONUS program at Springfield Air National Guard Base, Ohio, where the Singapore Air Force will lease U.S. Air Force F-16s.
Full Story

SIA picks up 5 awards at the Business Traveller Awards 2009

TradingMarkets.com, 24 Sep 2009
Readers of the prestigious Business Traveller magazine in the UK declared Singapore Airlines the market-leader in the following five categories:
Best Long-Haul Airline
Best Asian Airline
Best Business Class Best Economy Class
Best Cabin Staff.
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15% of Singapore problem gamblers have attempted suicide: study

Xinhua, 24 Sep 2009
SINGAPORE, Sept. 24 (Xinhua) -- A recent study has found that 15 percent of Singapore problem gamblers have attempted suicide, local media reported on Thursday.
Conducted by Singapore's National Addictions Management Service at the Institute of Mental Health, the study said that the problem gamblers often have anxiety or depression issues, which can lead them to take their own lives, according to local radio 938live.
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Singapore Government Revise EntrePass Visa Rules

PRWeb, 24 Sep 2009
Singapore (PRWEB) September 24, 2009 -- The Singapore government has tightened the rules governing the EntrePass scheme - a work visa designed for foreign entrepreneurs who wish to relocate and start a business in Singapore. GuideMeSingapore.com's analysis of these revisions concludes that the primary motivation behind the new regulations is to ensure that the new venture that is to be setup by the foreign entrepreneur under the EntrePass scheme is engaged in a real business and is not a sham venture, established merely for obtaining the immigration. Over the long-term, the new venture must also make positive contributions to the Singapore economy and it should result in increased local employment.
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As U.S. and Japan "Engage" with Myanmar, Singapore Praises Army in Government

Inner City Press, 24 Sep 2009
UNITED NATIONS, September 23 -- As the UN's "Group of Friends of the Secretary General on Myanmar" met Wednesday in the UN's basement, in the penned in area outside, the talk was of backsliding. Despite the near rote talk about Aung San Suu Kyi, the U.S. is said to be ready to "engage" with the military government of Than Shwe. And when Singapore's foreign minister George Yeo emerged, he said he welcomed Hillary Clinton's statement.
Inner City Press asked, what about the upsurge in violence against ethnic groups, such as in the Kokang regions, leading to refugee flows? The Singaporean minister said that was not discussed, that "drugs" were not discussed, only refugees.
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Related:
US changes tack on Myanmar - The Associated Press

OPINION: Lest we become strangers in our own land — Ngiam Tong Dow

The Malaysian Insider, 24 Sep 2009
Today, migration is economics driven. The best and the brightest move around the world searching for higher paying jobs. We risk having them use us as a stepping stone. Foreign fathers may advise their sons born in Singapore to leave when they reach the national service age of 18.
Singapore will be left with the second tier of average people. Educationally, they would hardly measure up to the Singapore average. When they are given citizenship and the right to vote, they will use their new-found electoral power to demand equal access to social services as other Singaporeans. The difference is existing citizens would have paid for those social services over a lifetime of tax payments; the new citizens would not.
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Singapore funds locally-developed emission reduction system

Xinhua, 24 Sep 2009
SINGAPORE, Sept. 24 (Xinhua) -- Singapore will provide 2 million Singapore dollars (1.4 million U.S. dollars) to fund a project for the test-bedding and type approval of a locally-developed technology.
According to a statement by the Maritime and Port Authority of Singapore (MPA) on Thursday, the fund will be for the test-bedding and type approval of CSNOx, a locally-developed technology that reduces greenhouse gas and exhaust pollutants from ship emissions.
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Citigroup shares up 2% after GIC say it sold stake

UK.biz.yahoo.com, 24 Sep 2009
Citigroup shares rose more than 2 percent to $4.54 in premarket trading on Tuesday on a technical bounce, after the Singapore wealth fund GIC announced it reduced its stake in the U.S. bank. A market analyst said the post facto announcement reduces selling pressure on Citi stock.
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Singapore's Steady Recovery

Forbes.com, 23 Sep 2009
HONG KONG -- The Singapore Department of Statistics announced Wednesday that the seasonally adjusted Consumer Price Index went up 0.4% in August, compared with a 0.3% advance in July, marking the fourth straight month of rises in price levels. The latest data is giving analysts and investors hope that Singapore's V-shaped recovery will continue.
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Ronaldo ordered to take paternity test after Brazilian-born Spore PR claim he is the father of her child

AFP
RIO DE JANEIRO — Dual World Cup winner Ronaldo has been ordered by a Brazilian court to take a DNA test to resolve a paternity dispute, the press reported here Wednesday.
The demand was made after a Brazilian resident of Singapore claimed the three-time FIFA Footballer of the Year was the father of her four-year-old boy.
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'Madagascar' rides to Uni Studios Singapore

Hollywoodreporter.com, 23 Sep 2009
Universal Studios Singapore, which opens early next year, will be the home to the first theme park attraction based on DreamWorks Animation movie property "Madagascar."
The Southeast Asia park, located on the island of Sentosa as part of a $4.2 billion Resorts World property, also will boast a Far Far Away Castle, a landmark in DWA's "Shrek" pic series. The 130-foot-tall castle, where King Harold lives, will house attractions such as Shrek 4-D, Donkey Live and Magic Potion Spin, Universal Studios announced
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Related:
Singapore's Universal Park Imports 'Madagascar' - The Wrap
Universal Studios Singapore(R) Announces Launch of World's ONLY 'Madagascar' Theme Park Attraction From DreamWorks Animation - PRNewswire.com

Singapore abolishes property fee guidelines

Legalbusinessonline.com, 24 Sep 2009
From October Singaporean lawyers will no longer have to follow fee guidelines for conveyancing transactions.
The Singapore Law Society has scrapped the set of guidelines – which was introduced six years ago following the abolition of fixed fees – in order to encourage lawyers to negotiate fees with clients.
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What's Holding Back Singapore's ETF?

Seeking Alpha, 23 Sep 2009
Singapore is heavily dependent on exports to sustain recovery from its worst economic turn yet. But export numbers are still not up to par to bring the economy and its related ETF out of a slump.
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Singapore abolishes property fee guidelines

Legalbusinessonline.com, 24 Sep 2009
From October Singaporean lawyers will no longer have to follow fee guidelines for conveyancing transactions.
The Singapore Law Society has scrapped the set of guidelines – which was introduced six years ago following the abolition of fixed fees – in order to encourage lawyers to negotiate fees with clients.
Full Story

Wynn: China & Macau Govt Will Never Let Spore Draw Away Chinese Gamblers

AFP
HONG KONG — Las Vegas mogul Steve Wynn said Wednesday that China has relaxed travel curbs for Guangdong residents visiting Macau, giving a boost to the Hong Kong listing of his casino group next month.
"It is a macro-economic consideration by the central government," he told a press conference.
Asked if he was concerned that Singapore, which will see its first casino project open by end of this year, will draw Chinese gamblers away from Macau, Wynn said it was unlikely.
"Will the government of Macau and the government of China let it happen? I don't think so."
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Renault scandal hangs over Singapore Grand Prix

AFP
SINGAPORE — Formula One will be desperate to put the damaging Renault race-fixing scandal behind it this weekend, but it will not be easy with the sport returning to the scene of the crime in Singapore.
By a quirk of fate, the 14th race of the season takes place in the city-state just days after Renault was slapped with a suspended two-year ban by the International Automobile Federation.
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Related:
Renault returns to Singapore in shame - USA Today
Full detailed WMSC 'Singapore-gate' verdict - Yahoo! Eurosport UK

Singapore F1 attracts foreign sex workers into town

Reuters India, 23 Sep 2009
SINGAPORE (Reuters Life!) - Singapore's Formula One race may be beset by last year's match-fixing and lower ticket sales, but many female escorts have flown into the city-state especially for the event, eyeing wealthy customers.
As bars and clubs prepare for this weekend's race, sex workers from neighbours such as Thailand and Vietnam, as well as from further afield including Russia and Colombia, say they are looking forward to well-heeled race fans.
"I timed my visit to Singapore a few days ahead of the F1 since I think it should bring me good business," said Jenny, a Chinese Russian in her mid-20s who said she is a university student and works as a part-time escort girl in Hong Kong.
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Applying maternity leave easy for most Singapore women: survey

Xinhua, 23 Sep 2009
SINGAPORE, Sept. 23 (Xinhua) -- A recent survey shows that most married working women here think company employers are supportive of them applying for maternity and childcare leave, local media reported on Wednesday.
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Wynn sees no threat to its' Asia casinos from Singapore IRs

Reuters, 23 Sep 2009
HONG KONG, Sept 23 (Reuters) - Wynn Resorts (WYNN.O), the world's third-largest casino operator by market value, said on Wednesday that it does not expect new casinos set to open in Singapore to be a threat to its Asia business.
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OPINION: The Singapore Brand - what do we stand for? - Mabel Wong

CSR Asia, 23 Sep 2009
Whilst only a tiny dot on the world map, Singaporeans have always prided themselves in the Singapore Brand. In the Prime Minister’s latest annual rally speech in August, he elaborated on how Singapore is still attracting MNCs and getting good long term projects and for him has retained its one key strength, ‘the Singapore brand name – a sense of dependability and quality assurance’. This led me to think more about the Singapore brand, and some of the companies that for Singaporeans are synonymous with dependability and quality assurance.
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Singapore August consumer prices drop 0.3 percent

CNBC.com, 23 Sep 2009
SINGAPORE - Singapore's consumer prices fell in August as a property slump helped trigger a fifth straight month of deflation.
The consumer price index fell 0.3 percent in the 12 months through August after a 0.5 percent drop in the 12 months to July, the statistics department said Wednesday. Compared to July, August's CPI rose 0.4 percent.
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Related:
Singapore Consumer Prices Fall Further In August - RTTNews
Singapore's CPI slips 0.3 pct year-on-year in August - TMCnet.com
The fall in Singapore’s consumer prices increase chances for the central bank to maintain its current fiscal policy - ecPulse.com
Singapore August consumer prices drop 0.3 percent - eTaiwan News
Singapore Aug consumer price index up 0.4 pct s/adj - Interactive Investor
Singapore Economy: Consumer Price Index up 4% in August 2009 Compared To July - eGov Monitor

In Singapore, novelty of F1 race begins to wear off (Feature)

Monsters & Critics, 23 Sep 2009
Singapore - With just days to go before the roaring of Formula One car engines will fill the streets of Singapore again, race organizers and the city-state's tourism industry are banking on last-minute bookings to fill seats, hotel rooms and tourist attractions during the event.
After the inaugural night race in 2008, the novelty of a F1 Grand Prix in Singapore seems to have worn off a bit.
As the economic downturn also took its toll on tourism worldwide, ticket sales and room bookings in the weeks to this year's GP season have been sluggish compared to last year.
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Related:
Singapore backs Beyonce to pull in punters - AFP

Finland Cracks Open Swiss Banking Secrecy Codes, Singapore is Next

YLE.fi, 23 Sep 2009
Finland and Switzerland have signed a new tax cooperation treaty that enables Finnish authorities to access Swiss bank account data even when no crime is suspected. The treaty, which helps investigators home in on hidden assets, still requires parliamentary ratification in both states.
Finland has recently entered into similar agreements with other states with strict banking secrecy principles, including Luxembourg and Belgium. A treaty is also in the works to crack open Austrian vaults, and Finnish authorities are already planning new tax agreements with Singapore and Malaysia to ease bilateral information exchange.
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S'pore Net users can't fish out phishers

ZDNet Asia, 23 Sep 2009
SINGAPORE--The country's online adoption is deemed one of the most advanced in the region, but a majority of its Web users still cannot recognize phishing scams, according to a new study released Wednesday.
Conducted by London-based research firm YouGov, the online survey found that 83 percent of Web users in Singapore failed to spot spelling errors on a site, which are tell-tale signs of a phishing scam.
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Corporate sponsors hit the brakes at F1

The Malaysian Insider, 23 Sep 2009
SINGAPORE, Sept 23 — Corporate invitations to this year's Formula One race in Singapore have slowed down amid the recession.
Last year, tickets for hospitality suites and grandstand seats were distributed freely by numerous corporate sponsors. Fuelling the generosity was the hype surrounding the republic's inaugural Grand Prix as well as the novelty of a night race.
This year, that generosity seems to have virtually disappeared because of the financial turmoil. The motor-related companies and banks which had F1 programmes in 2008 have scaled back or completely cut down on such activities.
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Temasek muscling in on Philippines' telco market

Inquirer.net, 23 Sep 2009
DESPITE THE POLITICAL jitters that have recently haunted leading telecommunications player PLDT—and notwithstanding concerns that the telco sector has entered its sunset phase—Singapore Technologies Telemedia (STT) of the island’s sovereign wealth fund, Temasek, is on the prowl for opportunities in the Philippines.
STT was recently forced to sell out of Indonesia’s second largest mobile phone firm, PT Indosat, due to anti-trust restrictions (it also controls the country’s largest wireless player PT Telkomsel). Now, STT has $1.8 billion in extra cash that it’s itching to put into something.
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Singapore gamblers shrug off race fixing

TVNZ, 23 Sep 2009
Singapore gamblers shrugged off news that last year's Formula One race in the city-state was fixed and said it would not stop them placing bets on this weekend's night-time grand prix.
Betting started on Wednesday for this weekend's race and there was little sign the scandal had affected gamblers.
Punters in Chinatown, home to streets of opium-filled gambling dens in the 19th century but now more geared to tourists, said they would still place bets on the race.
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Related:
Singapore gamblers shrug off race fixing - Reuters India

Singapore Jobs Credit to pay out more than 100K Employers share of $890 Million

the Gov Monitor, 22 Sep 2009
More than 100,000 employers, with whom about 1.4 million local workers are employed, will receive $890 million from the third payment of Jobs Credit on 30 September 2009.
Eligible employers will receive a notification letter by 24 September 2009 from the Inland Revenue Authority of Singapore (IRAS). The letter will inform them of the amount of Jobs Credit they will receive in the third payment.
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SWFs and the Noble chase for commodities

FT Alphaville, 22 Sep 2009
Forget unprofitable investments in western financial groups. The scramble is on among Asian sovereign wealth funds for a big piece of the commodities action. As the FT reports on Tuesday, China Investment Corp has agreed to take a 15 per cent stake in Noble Group, the Hong Kong-based, Singapore-listed commodity supplier.
Interestingly CIC’s investment in Noble comes just a few months after Temasek, Singapore’s state-owned investment company, agreed in June to buy a 13.76 per cent stake in Singapore-based commodities supplier Olam International for S$437.5m ($303m).
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Golfers duped in huge eBay fraud

Irish Examiner, 23 Sep 2009
FAKE golf clubs and other goods worth millions of euro were sold to eBay customers around the world in the largest fraud of its kind, a court has heard.
Most were made in China and then distributed through an international network of criminals.
The conspirators are thought to have been based in Britain, Thailand, Australia, Germany, Singapore, the United States, Hong Kong and China.
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Related:
Fake golf club scam 'cost eBay customers millions' - Times Online

Debt-Ridden Companies Borrow More to Stave Off a Reckoning

The New York Times, 22 Sep 2009
Junk borrowers are trading death row for extended jail time. Resurgent debt markets have helped several high-yield borrowers refinance loans. That will keep them from defaulting when loans come due, averting the possibility of near-term death by bankruptcy. But with interest costs most likely at least doubling, their cash flows will be squeezed — condemning some to protracted penny-pinching, if not worse.
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Gallup Poll - S'poreans have more confidence in the new US administration

Gallup.com, 22 Sep 2009
Singapore: In all of the previous years in which this question was asked, approval of U.S. leadership was relatively high, and it increased in the most recent poll in June 2009. In past polls, consistently more than 30% of respondents did not have an opinion about U.S. leadership, but opinions have crystallized somewhat since then, with fewer people saying don't know/refusing to answer the question in 2009 (19%).

This decrease in don't know/refused responses in 2009 could reflect Singaporean confidence in the new U.S. administration's ability to handle the global economic crisis. Singapore's economy was hit hard in 2008 by falling demand of manufactured goods. The first quarter of 2009 was especially hard on the country with the worst recorded annual contraction recorded, but by the second quarter, when polling took place, the contraction had slowed, and it was apparent that the economy would grow throughout the rest of the year.

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Singapore GIC says cuts stake in Citigroup to below 5 pct

Reuters, 22 Sep 2009
SINGAPORE, Sept 22 (Reuters) - The Government of Singapore Investment Corp (GIC) said on Tuesday it has cut its stake in Citigroup (C.N) to below 5 percent through open market sales.
GIC held more than 9 percent of Citi on Sept 11, when it converted its preference shares in the U.S. bank to ordinary shares at $3.25 per share.
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Related:
Singapore's GIC Cuts Citigroup Stake - The Wall Street Journal
Singapore cuts Citigroup stake to below 5 percent - Associated Press
Singapore's Sovereign Wealth Fund Dumps Citigroup (C) Shares Following Share Exchange - StreetInsider.com
Singapore wealth fund halves Citi stake, makes $1.6 bln - Reuters
Singapore Investment Corp Cuts Citi Holding In Half (C) - TradingMarkets.com
Singapore's GIC cuts its stake in Citigroup to below 5 pct - Finchannel.com
Singapore's GIC slashes stake in Citigroup to below 5% - Business Standard
Singapore cuts stake in Citigroup to below five percent - MSN Philippines News
Singapore's GIC pares Citi stake; nets $1.6 billion profit news - domain-b.com
GIC makes $1.6bn in profit from Citi sale - Financial Times
Singapore's GIC Trims Citigroup Stake To Below 5% - RTTNews
Singapore wealth fund halves Citi stake, makes US$1.6b profit - Business Times (Malaysia)
Singapore cuts ownership stake in Citigroup - Newsday.com
Singapore cuts ownership stake in Citigroup - San Francisco Chronicle
Singapore’s GIC Pares Citigroup Stake to Below 5% - Bloomberg.com
Singapore sells Citigroup shares, owns less than 5% - USA Today
Singapore Cuts Ownership Stake in Citigroup - ABC News
Singapore’s GIC profits on Citi stake sale - City AM
Singapore wealth fund cuts stake in Citigroup - BusinessWorld Online
GIC reduces Citi stake to below 5%, gaining $1.6bn - Business24-7.ae
Wealth fund halves Citi stake - Gulfnews.com
Singapore cuts stake in Citigroup to below five percent - MSN Singapore News
Citi stake sale earns Singapore fund $1.6bn - Financial Times
GIC pockets $1.8 billion from Citi sale - Financial Standard
GIC makes $1.6bn on Citigroup sale - Telegraph.co.uk
Singapore cashes in half of its Citigroup stake - Los Angeles Times
Singapore cuts Citigroup stake to below 5 percent - Mysinchew.com
Citi Bailout Also Bails Out Singapore Fund - The Wall Street Journal

Far Eastern Economic Review to shut after 63 years

Forbes.com, 22 Sep 2009
HONGKONG/NEW YORK Sept 22 (Reuters) - The Far Eastern Economic Review, one of Asia's leading print publications, will be shut down by News Corp as it struggles with losses and a dwindling readership migrating to the Internet.
The 63-year-old magazine, which was run by News Corp's Dow Jones and enjoyed a weighty reputation for its fearless and in-depth Asian business and political coverage since World War Two, will close in December, Dow Jones said.
Throughout its history, FEER's investigative and critical journalism has sparked tussles with Asian governments. The magazine is currently embroiled in a legal battle with the Singapore government, with the island state's High Court ruling it defamed elder statesman Lee Kuan Yew and his son, incumbent Prime Minister Lee Hsien Loong.
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Related:
Far Eastern Review to be closed by Dow Jones - TopNews
Far Eastern Economic Review to shut after 63 years - ABS-CBN News Online

GIC-backed CDH Investment To Raise US$1.4 Billion Private Equity Fund

Reuters, 22 Sep 2009
HONG KONG, Sept 22 (Reuters) - CDH Investments, backed by Singapore's sovereign fund and the World Bank, is raising a $1.4 billion private equity fund, its fourth fund targetting growth-stage companies in China, a source said on Tuesday.
The Government of Singapore Investment Corp (GIC), the bigger of Singapore's two sovereign wealth funds, and the International Finance Corp (IFC), the private investment arm of the World Bank, are two major institutional investors, also known as "limited partners" of CDH's new fund, said the source.
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Spike in Singapore kids with behavior disorders

Xinhua, 22 Sep 2009
SINGAPORE, Sept. 22 (Xinhua) -- There has been a sharp rise in the number of young children diagnosed with attention deficit hyperactivity disorder (ADHD) in Singapore, local media reported on Tuesday.
ADHD, which is characterized by hyperactivity, impulsiveness and inattention, is now the most common condition seen in the clinic, which sees patients up to 19 years of age, making up a quarter of all patients.
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South Korea to make 2010 F1 debut

BBC News, 21 Sep 2009
South Korea will host its first grand prix next year after being listed on a 19-race calendar published on Monday.The event, which will be held in Yeongam in the south-west of the country, is scheduled for 17 October.
That makes it the third last race, with Abu Dhabi on 31 October and the climax in Brazil on 14 November.
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Related:
South Korean organisers welcome F1 debut - The Times Of India
Korea, Canada join 2010 calendar - wheels24.co.za

Malaysian bank passes Jobs Credit savings to unionised staff; will local banks follow?

The Malaysian Insider, 22 Sep 2009
SINGAPORE, Sept 22 — Instead of pocketing everything, Maybank Singapore is passing on part of the savings from the Jobs Credit Scheme to its unionised staff in extra bonuses and training.
Some 400 of its unionised employees — or slightly more than a third of its 1,300 local staff — will get 0.5 to 1.5 months’ more in bonuses, depending on their performance.
This is on top of the 2.5 months bonus payout that banks in Singapore, including Maybank, have agreed with unions in the banking sector.
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Huaneng Power gets local bank funding for buy

China Daily, 22 Sep 2009
Huaneng Power International Inc, China's largest listed power producer, yesterday got a S$3.2 billion ($2.3 billion) bank loan to fund its acquisition of Tuas Power in Singapore.
Under an agreement signed yesterday, Huaneng will get S$2.8 billion ($2 billion) loan from Bank of China and S$400 million ($300 million) loan from China Construction Bank. The company will mainly use the money to pay for the loan it had borrowed from overseas banks for the deal last year.
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Temasek's major portfolios in India faces value erosion

VCCircle, 21 Sep 2009
Some of the major investments of Temasek in India are ICICI Bank, Bharti Airtel, Tata Teleservices, among others. The fund has infused more equity capital in two of its India portfolio firms this year - DTH player Tata Sky and non banking financial services company Fullerton India.
Some of the major portfolio companies of Temasek in India have also seen value erosion. Temasek's 8% stake in ICICI Bank was worth Rs 3,705 crore in FY09 as compared to Rs 8,561 crore last year. Similarly, the 5% stake in Bharti Airtel is reportedly worth Rs 11,878 crore for FY09 as compared to Rs 15,681 crore a year ago.
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Singapore moves quickly to burst the bubble that Greenspan missed

The Sydney Morning Herald, 22 Sep 2009
AS ALAN GREENSPAN tirelessly makes the rounds to save his legacy, Singapore is reminding us why the former Federal Reserve chairman's efforts are not working.
Mr "We Can't Detect Bubbles" probably never thought he could learn a thing or three from an economy of 4.8 million people. This week, Singapore's National Development Minister, Mah Bow Tan, unveiled measures to prevent excessive price swings in real estate. The reason: Singapore sees the signs of rampant speculation in home buying that central bankers such as Greenspan long argued could not be spotted or headed off. Funny how tiny Singapore can do it and the Fed can't.
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Renault handed suspended ban over 'crashgate'

AFP
PARIS — The International Automobile Federation (FIA) on Monday handed the Renault Formula One team a suspended ban from the sport for ordering Nelson Piquet junior to crash in the 2008 Singapore Grand Prix.
The FIA told the French team that the threat of a permanent ban from the sport will hang over them until the end of the 2011 season and be activated during that time if they are found guilty of a similar charge.
Full Story

Related:
Renault get off 'Crashgate' almost scot-free - Times Online
The ramifications of the Singapore race fixing verdict - BBC Sports
Renault F1 Team 'Banned' Over Crashgate - Sky News
Renault Escapes F-1 Race-Fix Ban; Briatore Excluded - Bloomberg.com

Welcome to the Island of Misfit Toys - Chinatown, Singapore

Gadling, 21 Sep 2009

Remember "The Island of Misfit Toys" from the legendary holiday TV special "Rudolph the Red-Nosed Reindeer"? It's where imperfect and rejected toys came to life. Well, I have found this real-life island. It's Singapore -- Chinatown, to be exact.
Some find it strange that Singapore has a Chinatown, since so much of the culture is influenced by the Chinese anyway. It turns out that the Singapore government is very supportive of its unique ethnic areas; including Chinatown, Little India, and Holland Village (where there is a windmill and no Dutch people).
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