Temasek scalded as SouthGobi drops sharply on Hong Kong debut

Reuters, 30 Jan 2010
HONG KONG, Jan 29 (Reuters) - Shares in Canadian coal miner SouthGobi Energy Resources Ltd (1878.HK)(SGQ.TO) fell about 12 percent in their Hong Kong debut on Friday, hurt by the stock's overly high valuation and poor timing.
SouthGobi sold 27 million new shares, about 16.8 percent of its enlarged share capital, and secured Asia's top sovereign wealth funds, China Investment Corp [CIC.UL] and Temasek Holdings [TEM.UL] as cornerstone investors, each subscribing to $50 million worth of shares with a six-month lock-up period. Full Story

OPINION: A credible challenge emerging - Seah Chiang Nee

Thestar.com.my, 30 Jan 2010
A surging tide of young professionals is giving growing strength to the opposition as it readies to mount a serious challenge to the ruling PAP.
FEARED for his destruction of political foes, Lee Kuan Yew once predicted that when he quit, a new breed of quality politicians would come out to challenge his party.
Today Lee remains very influential in the Cabinet, but his prophecy is prematurely coming to pass. Full Story

Sands’ Singapore Project to Run Without VIP Junkets, Post Says

Bloomberg.com, 30 Jan 2010
Jan. 30 (Bloomberg) -- Las Vegas Sands Corp. will not use VIP junket operators to bring business to its new $6 billion Singapore casino, the South China Morning Post reported, citing chief operating officer Michael Leven.
Singapore’s strict licensing rules meant junket operators and their clients would be subject to very high levels of official scrutiny, the paper said, drawing a contrast with the situation in the Chinese city of Macau, where the market relies on junkets. Full Story

Related:
Sands' Singapore casino to avoid junket operators fees - The China Post

Endangered animals get new lease of life in Singapore

AFP
From jaguars and chimpanzees to Komodo dragons and manatees, heavily urbanised Singapore is gaining a reputation as a successful nursery for some of the world's rarest animals.
With a breeding programme for 315 species, around one in six of which are threatened, the Singapore Zoo is seeing a steady stream of locally born additions to its collection, currently numbering more than 2,500 animals. Full Story

Related:
Endangered animals get new lease of life in Singapore - Geo Television Network

Deadlock could drive World Cup online in Singapore

Reuters, 29 Jan 2010
SINGAPORE (Reuters) - Singapore's telecommunications giants SingTel and Starhub could be cut out of broadcasting the soccer World Cup, forcing fans to view matches live on the internet unless a deadlock over rights fees can be resolved.
British company Perform Group has been monitoring the stalemate and could be prepared to stream the World Cup matches in from South Africa to Singapore. Last year Perform streamed the first England international to be available only on the internet when England played Ukraine in a World Cup qualifier. Full Story

Aviation gloom unlikely to lift at Singapore air show

Reuters, 29 Jan 2010
SINGAPORE/TOKYO, Jan 29 (Reuters) - The aviation business, badly hit by the economic crisis and the bankruptcy of Japan Airlines (9205.T), is unlikely to find much to cheer about at this year's first major industry event, the Singapore Airshow.
Executives say early signs of a global economic recovery could lead to some demand from low-cost carriers at the Feb 2-7 gathering, but there seems little sign of big-ticket orders. Full Story

Three Malaysian Civil Servants Charged With Corruption In Connection With Sand Smuggling To S'pore

Bernama.com 29 Jan 2010
JOHOR BAHARU, Jan 29 (Bernama) -- Two customs personnel and a Johor Lands and Mines office employee were separately charged in the Sessions Court here on Friday with receiving bribes in connection with smuggling sand to Singapore last year.
Customs superintendent's assistant Syahrol Md Zain, 31, Customs superintendent Kamarudin Ismail, 49, and Johor Lands and Mines office worker Johairi Ahmad, 41, were charged in separate courts under section 17(a) of the Malaysian Anti-Corruption Commission Act 2009 which carries a maximum 20 years jail and a fine five times the amount of graft involved or RM10,000, whichever is higher, on conviction. Full Story

Singapore prelim Q4 jobless rate at 2.1 pct s/adj

Interactive Investor, 29 Jan 2010
Singapore's unemployment figure fell to a seasonally adjusted 2.1 percent in the fourth quarter of 2009, after a slight increase to 3.4 percent in the previous quarter.
Among the resident labour force, the unemployment rate fell to 3.0 percent in the fourth quarter versus 5.0 percent in the third quarter and 4.6 percent in the second quarter. Full Story

Related:
Economic Buzz: Singapore's Labour Market Gains Momentum In Q4 Of 2009 - Bloombergutv.com
Singapore unemployment falls as new casinos hire - Forbes.com
Singapore unemployment falls as new casinos hire - eTaiwan News
Singapore Jobless Rate Eases In Q4 - RTTNews
Singapore unemployment rate falls to 2.1 percent as new casinos begin hiring staff - Canadian Business Online
Singapore unemployment falls as new casinos begin hiring - Gaming Today

Singapore Dec bank lending up 1.12 pct from Nov

Interactive Investor, 29 Jan 2010
SINGAPORE, Jan 29 (Reuters) - Total bank lending in Singapore rose to S$281.3 billion ($200.4 billion) in December from S$278.2 billion in November and from S$275.4 billion in October, central bank data showed on Friday. Housing loans to consumers rose 0.56 percent to S$91.37 billion from S$90.86 billion in November. Full Story

2 S'pore hotels in TripAdvisors' 2010 Top 10 Dirtiest Hotels

TripAdvisor.com

• 1. Phi Phi Don Chukit Resort, Ko Phi Phi Don, Thailand
• 2. Raj Residency, Chennai (Madras), India
• 3. Goldkist Beach Resort, Singapore, Singapore
• 4. Mahkota Hotel Melaka, Melaka, Malaysia
• 5. Centaur Hotel, IGI Airport, New Delhi, India
• 6. Tatami Hampton Hotel, Hong Kong, China
• 7. Pearl of the Pacific Boracay Resort & Spa, Boracay, Philippines
• 8. First Hotel Bankok, Bangkok, Thailand
• 9. Seri Costa Hotel-Resort, Melaka, Malaysia
• 10. Royal Peacock Hotel, Singapore, Singapore

Link

ST Kinetics under cloud, India to buy US howitzers

Indianexpress.com, 29 Jan 2010
The government has decided to buy M 777 light weight howitzer guns that are desperately needed by the Army for deployment in mountain regions from the US.
The gun, which is in use with the US Army and Marines, has been chosen over the ultra light howitzer of the tainted defence giant, Singapore Technologies (ST). US formally moved the proposal to sell the guns to India on Wednesday.
American Defence Security Cooperation Agency (DSCA) notified the US Congress of a possible sale of 145 M 777 howitzers , valued at close to $650 million, to India. India will also buy Laser Inertial Artillery Pointing Systems (LIAPS) with the guns that help the gunners to fire accurately. Full Story


Related:
India may buy 145 howitzers from US - The Asian Age

OPINION: When cost overruns...- Chua Chin Leng

Asian Correspondent, 29 Jan 2010
Hospital bills are going to go up and the people will not have enough savings in their Medisave to pay for it. What is the solution? Simple, make them save more,or take more of their money from their CPF. That looks like the most brilliant suggestion coming from Khaw Boon Wan. He said that a paper would be put up in Parliament and the MPs will have to decide which way to go. Currently Medisave takes 6.5 percent from the CPF savings. His proposal is to increase it to 9 percent. Full Story

Singapore To Reduce Health Care Subsidies For Permanent Residents

the Gov Monitor, 28 Jan 2010
Ministry of Health announced that the current healthcare subsidy for Permanent Residents (PRs) will be reduced by 10 percentage-points.
This will sharpen the distinction between privileges enjoyed by citizens and PRs. By 2012, there will be a 20 percentage-point differential in healthcare subsidies between citizens and PRs. Citizens enjoy heavy subsidy in Class B2 and C wards. PRs receive significant subsidy while foreigners are not subsidised at all. Full Story

Singapore’s push to get prominence

The Hindu, 29 Jan 2010
Singapore is seeking a prominent place on the map of international cricket, initially as a neutral venue for matches featuring established teams. The first of the many steps on this cricket trail will be taken when a local Twenty20 tournament is held here on Saturday, according to Singapore Indian Association President K. Kesavapany.
The two-day tournament, based on the Indian Premier League pattern, would bring together teams comprising not only Singaporeans but also some Indian expatriates and overseas players. Full Story

PM Lee: S'pore Says Annual Growth Won't Average 5%

The Wall Street Journal, 29 Jan 2010
"We must acknowledge that we are now more developed economically than we were 10 or 15 years ago, and we can no longer grow as rapidly as before," Mr. Lee said in a transcript of a speech released by the government Thursday, noting that Singapore's economy averaged 5% annual growth from 1999 to 2009. "Overall, if you take it over the next decade, I think 5% will be a stretch." Full Story

Singapore officials to monitor Cooum restoration project

The Times of India, 29 Jan 2010
CHENNAI: The Chennai Rivers Restoration Trust (CRRT), constituted under the chairmanship of deputy chief minister M K Stalin, will sign a memorandum of understanding (MoU) with the Singapore Cooperation Enterprise (SEC) in February for the much-awaited Cooum restoration work. The SEC was formed in 2006 to share Singapore's public sector expertise with foreign ministries and agencies interested in enhancing or adapting their system based on Singapore's model. Full Story

Human Trafficking Suspect Handed Over To Singapore Police

Bernama.com, 28 Jan 2010
JOHOR BAHARU, Jan 28 (Bernama) -- Bukit Aman Interpol on Wednesday handed over a Malaysian detained in connection with human trafficking to Singapore police. The 44 year-old man from Kampung Sungai Melayu, Gelang Patah was detained at Pengkalan Rinting, Tampoi Wednesday morning. Full Story

Singapore considering F1 layout changes

Autosport.com, 28 Jan 2010
Singapore Grand Prix chiefs are considering making changes to their Formula 1 track for 2011 in a bid to speed the circuit up. According to a report in respected Singapore newspaper Today, Marina Bay chiefs are considering making significant changes to the 3.152-mile layout of the Marina Bay circuit after this year's race to raise the track's average lap speed. Full Story

Related:
Singapore looking to change track layout - ESPN F1
Singapore set for track alterations - ESPNSTAR.com

MAS: Temporary Swap Facility With US Federal Reserve To Expire

RTTNews, 28 Jan 2010
Thursday, the Monetary Authority of Singapore said that the temporary swap line with the US Federal Reserve will expire as planned on February 1, 2010. The central bank assessed that swap lines, which were established to relieve pressures in global funding markets, are no longer needed. Full Story

Related:
Singapore Says Swap Line With US Federal Reserve To Expire Feb 1 - FOXBusiness.com

Singapore’s housing policy of harmony?

The Malaysian Insider, 28 Jan 2010
SINGAPORE, Jan 28 — Could a housing policy, similar to the one introduced to ensure a mix of ethnic groups in public estates, be adopted to integrate new Singaporeans?
“It’s a very valuable instrument,” acknowledged Minister Mentor Lee Kuan Yew. He said this when responding to a question posed at a dialogue yesterday by Ambassador-At-Large Tommy Koh if more could be done to integrate those already here, just the way the Ethnic Integration Policy (EIP) has done for Singaporeans of different ethnic backgrounds since 1989. Full Story

Jetstar makes Singapore its Asian hub

AFP
SINGAPORE — Jetstar, the discount carrier offshoot of Australian flag-carrier Qantas, said Thursday it was making Singapore its major Asian hub, giving it a base to expand into long-haul international flights. Jetstar signed an agreement with Singapore airport operator Changi Airport Group to make the city-state its largest base in Asia for both short- and long-haul flights. Full Story

Related:
Australia's Jetstar makes Singapore its main Asian hub - Flightglobal
Jetstar makes Singapore new hub, plans flights to Europe - The Sydney Morning Herald

Temasek enters into agreement with Constitution Mining Corp

CNNMoney.com, 27 Jan 2010
On January 25th 2010, the Effective Date, Constitution Mining ("CMIN") entered into a Mineral Right Option Agreement with Temasek Investments Inc. ("Temasek") to acquire three separate options from Temasek, in certain mineral rights in Peru (the "Mineral Rights"), thus potentially resulting in our acquisition of 100% of the Mineral Rights. On signing, CMIN agreed to issue, within 30 business days from the Effective Date, 500,000 shares of our common stock to Temasek. CMIN may exercise the initial option to acquire a thirty-three percent (33%) interest in the Mineral Rights by paying $250,000 and issuing 1,000,000 shares of our common stock to Temasek within twelve (12) months from the Effective Date. Full Story

Investor Sentiment On Singapore Returns To Pre-Crisis Level

Bernama.com, 27 Jan 2010
SINGAPORE, Jan 27 (Bernama) -- Investor sentiment on Singapore has returned to pre-financial crisis levels, according to a quarterly survey by ING, the global financial services group. The ING Investor Dashboard Survey said the Singapore sentiment index jumped 168 per cent to 150 for fourth quarter 2009 from 56 in fourth quarter 2008, and maintained its optimistic level from 149 in third quarter 2009. Full Story

Singapore launches police unit against casino crime

MYSinchew.com, 27 Jan 2010
SINGAPORE, Jan 27 (AFP) - Singapore on Wednesday launched a dedicated police unit to investigate crimes related to the city-state's first two casinos, which are due to open soon. Superintendent Michael Ang, former director of security at The Venetian in Macau, was named head of the Casino Crime Investigation Branch (CCIB) of the police's Criminal Investigation Department. Full Story

Singapore Takes Over Command of Multinational Counter-Piracy Task Force 151

Defence.Professionals, 27 Jan 2010
Singapore took over command of Combined Task Force (CTF) 151, a multinational counter-piracy task force, from the United States (US) in a ceremony held on board the US Navy destroyer, USS Hopper, in Bahrain this morning. Led by Rear-Admiral (RADM) Bernard Miranda from the Republic of Singapore Navy (RSN), the CTF 151 command team will coordinate counter-piracy operations by CTF 151 to deter and disrupt piracy in the Gulf of Aden (GoA) over the next three months. Full Story

Singapore Coroner's Inquiry Into Death Of Malaysian

Bernama.com, 27 Jan 2010
SINGAPORE, Jan 27 (Bernama) -- The Singapore authority will hold a coroner's inquiry into the death of Malaysian Tong Kok Wai, a Singapore permanent resident who died after a hit-and-run accident involving a Romanian diplomat's car last month. Over 30 witnesses will be called to testify in the inquiry to be held from March 3 to 10.
Full Story

OPINION: The PAP imitates the Reform Party - Liau Chuan Yi and Norvin Chan

Asian Correspondent, 27 Jan 2010
In a stunning turn of events, the PAP has adopted a policy which has earlier been articulated by the Reform Party. The Reform Party has always advocated an increase in productivity to raise living standards instead of just increasing the size of the economy by increasing factor inputs (in this case increased labour). Below are but two early instances in which the party's stand was pronounced:

"... despite Singapore’s high growth rates between 2003 and 2007 this boom largely passed ordinary Singaporeans by. Instead it was evidenced by the growing numbers of foreign workers (which put pressure on the incomes of lower-skilled Singaporeans and led to falling productivity)" - Kenneth Jeyaretnam, Reform party press release, May 18, 2009

"We all know the present economic model is not achieving prosperity for the majority of ordinary Singaporeans. Since 2008 Singapore has been in recession and GDP has been declining. Our productivity has also been declining for some time and without higher productivity we will not achieve higher living standards.” - Kenneth Jeyaretnam, Reform Party National Day Speech, August 9, 2009
Full Story

Temasek helped Wen Jiabao's son to incorporate New Horizon in 2005

Financial Times, 26 Jan 2010
Japan’s Softbank, Singapore’s Temasek and Deutsche Bank are investors in two US dollar funds launched by New Horizon, which has made co-investments in China with Goldman Sachs and CDH, the Chinese private equity group. New Horizon’s first fund was incorporated in the Cayman Islands in May 2005 with $100m raised primarily from Temasek and Softbank. It closed its second fund in May 2007 with $500m. Full Story

Danamon boss resigns, denies internal conflict with controlling shareholder Temasek

The Jakarta Post, 26 Jan 2010
PT Bank Danamon’s president director Sebastian Paredes has officially proposed his resignation from the publicly listed bank’s top management post despite his success in significantly improving the bank’s performance. “Temasek remains the controlling shareholder of the bank, and they are very happy with the performance of the bank and the way that we manage the bank,” he said, adding that that his relations with the shareholders were quite good. Singapore Temasek’s subsidiary Asia Financial Ltd. controls a 67.7 percent stake in the bank with the remaining 32.3 percent held by the investing public. Full Story

Public housing in Singapore: One million flats and counting

CNNGo, 27 Jan 2010
Singapore's Housing and Development Board (HDB) will celebrate half a century of achievements by building its one millionth flat this year, according to Channel NewsAsia. Speaking at its 50th anniversary, Prime Minister Lee Hsien Loong said, "Two generations of Singaporeans have grown up in HDB flats. Public housing helped to mould our unique national identity and collective experience as Singaporeans." Full Story

Temasek suckered into selling BII stake

Reuters India, 26 Jan 2010
JAKARTA, Jan 26 (Reuters) - Indonesia will delay an end-2010 deadline requiring investors to own only a single bank in Southeast Asia's largest economy, giving the government more time to work out what to do with its stakes in four banks.
The policy, originally set for 2008 but pushed back several times already, forced Singapore state fund Temasek [TEM.UL] to sell a stake in one of its two banks in Indonesia, and could bring about management changes at state-owned banks, officials have said. Full Story

Singapore manufacturing rebounds on electronics

CNBC, 26 Jan 2010
SINGAPORE - Singapore's manufacturing rebounded in December as output in the city-state's electronics sector surged by over half, the government said Tuesday.
Industrial production rose 14.4 percent from a year earlier following a 9.5 percent decrease in November, the Trade and Industry Ministry said in a statement. Manufacturing in December increased a seasonally adjusted 18.1 percent from November, ending a four-month decline. Full Story


Related:
Singapore’s Production Climbs at Fastest Pace in Five Months - BusinessWeek
Singapore manufacturing grows 14.4 percent in December as electronics production surges - Canadian Business Online
Singapore's industrial output soars 14.4 per cent in December - Earth Times
Singapore's Manufacturing Output Increases In Dec 09 - Bernama.com

Global supply of rare earth elements could be wiped out by 2012

NaturalNews.com, 25 Jan 2010
(NaturalNews) It's the bubble you've probably never heard of: The rare earth bubble. And it's due to pop in 2012, potentially devastating the industries of western nations that depend on these rare elements.
What industries are those? The automobile industry uses tens of thousands of tons of rare earth elements each year, and advanced military technology depends on these elements, too. Lots of "green" technologies depend on them, including wind turbines, low-energy light bulbs and hybrid car batteries. In fact, much of western civilization depends on rare earth elements such as terbium, lanthanum and neodymium.
So what's the problem with these rare elements? 97 percent of the world's supply comes from mines in China, and China is prepared to simply stop exporting these strategic elements to the rest of the world by 2012. Full Story

Lee Foundation donates RM11mil to Malaysia hospital

Thestar.com.my, 26 Jan 2010
A RECENT RM11mil donation by the Lee Foundation to the Negri Sembilan Chinese Maternity Hospital (NSCMH) is set to transform the 78-year-old hospital into a modern medical centre equipped with the latest devices.
NSCMH management committee head Datuk Dr Nellie S.L.Tan-Wong, who spearheaded the hospital’s redevelopment plan, said in recognition of the “special gift”, its main block would be named in honour of Puan Sri Alice Lee, the mother of Singaporean Lee Seng Wee, who made the contribution. Full Story

Smoking in Singapore on the rise despite curbs

The Malaysian Insider, 26 Jan 2010
Despite smokers here now having far fewer public places to light up and paying one of the world's highest prices for their habit, sales of cigarettes still hit a four-year high last year.
Each day last year, 6.7 million were lit up, making for 2.44 billion cigarettes sold through the year.
It is a 12 per cent rise over 2008's figure of 2.17 billion sold; in 2005, the figure was 2.09 billion. Full Story

Six Singapore-Listed China Firms Can’t Repay Debt, SCMP Says

Bloomberg.com, 25 Jan 2010
Jan. 25 (Bloomberg) -- Six of the 11 Chinese companies listed in Singapore that sold convertible bonds between 2005 and 2008 have said they are unable to repay debts, the South China Morning Post reported, citing an investor association official.
The Securities Investors Association of Singapore asked the Chinese government to discipline the companies since Singapore doesn’t have the authority to do so, Chairman David Gerald said, according to the Hong Kong-based newspaper. The association represents 4,000 small shareholders, the report said. Full Story

Singapore Casino Employees Fired Before First Cards are Dealt

Gambling Online Magazine, 25 Jan 2010
Both Resorts World Sentosa and Marina Bay Sands have revealed that they were forced to release a number of their employees. owing to stringent rules over who can legally work at each site – with the former terminating the contracts of 30 people.
According to The Straits Times, the released employees had their applications to work at the gaming tables rejected by the Casino Regulatory Authority (CRA) and, although no specific reasons were given as to why, it is likely that the decision centres on the workers having had brushes with the law in the past. Full Story

Related:
Some casino staff told to leave - Casino City Times

Chinese Premier's son US$1 billion equity fund gets backing from Temasek

Reuters, 25 Jan 2010
HONG KONG (Reuters) - New Horizon Capital, whose co-founders include Wen Yunsong, son of Chinese Premier Wen Jiabao, aims to raise a $1 billion private equity fund for investment in domestic industry leaders ready to make initial public share offerings.
New Horizon Capital recently completed raising between $600 million and $700 million by the so-called "first-closing" period, with capital commitments from Asian investors including Japan's Softbank Corp and Singapore's state investor Temasek Holdings, said the sources. Full Story

Related:
Wen's son eyes $1 bln fund for China deals: sources - ForexYard
$1bn Fundraising For China’s New Horizon - Financierworldwide.com
New Horizon Capital to set up $1 billion private equity fund - China Economic Review

Tishman, BlackRock quit huge NYC housing complex

Reuters, 25 Jan 2010
NEW YORK, Jan 25 (Reuters) - A group led by Tishman Speyer Properties LP is giving up control of the Stuyvesant Town and Peter Cooper Village apartment complex in Manhattan to creditors, marking the collapse of one of the largest transactions during the U.S. real estate boom.
The decision came after a joint venture headed by Tishman and a unit of BlackRock Inc (BLK.N) defaulted this month on $4.4 billion of debt used to finance the purchase of the 11,200-apartment property. Full Story

Related:
Tishman Speyer’s Stuyvesant Town Going Back To The "Banks" - SocketSite.com
Tishman Venture Gives Up Stuyvesant Project - The Wall Street Journal
Tishman to Hand Over Stuyvesant Town to Its Lenders - BusinessWeek
Tishman Speyer and BlackRock Give Stuyvesant Town and Peter Cooper Village to Creditors - NYMag.com
Tishman, BlackRock Quit Huge NYC Housing Complex - The New York Times
Control of Stuyvesant Takes Center Stage - The Wall Street Journal

S’pore to host global forum on transparency, exchange of tax info

MSN News, 25 Jan 2010
SINGAPORE: Singapore will host the Global Forum on Transparency and Exchange of Information for Tax Purposes from September 30 to October 1 this year.
The Finance Ministry said Monday the Global Forum is responsible for assessing and monitoring the effective implementation of the internationally agreed Standard for exchange of information for tax purposes. Full Story

Singapore long-term growth under five percent

MSN Philippines News, 25 Jan 2010
Singapore Prime Minister Lee Hsien Loong said Monday the country's long-term growth rate is likely to average less than five percent annually over the next ten years as the economy matures further.
"Overall we must acknowledge that we are more developed economically than we were 10 or 15 years ago and we can no longer grow as rapidly as before," he told a forum organised by the Institute of Policy Studies, a local think tank. Full Story

Related:
Singapore PM says 5 pct growth a stretch-report - Interactive Investor
Singapore PM: Annual Growth Of 5% Difficult To Sustain: Report - RTTNews

Singapore Aims to Attract S$12 Billion in Investments in 2010

Bloomberg.com, 25 Jan 2010
Jan. 25 (Bloomberg) -- Singapore expects investment in manufacturing and services to hold steady in 2010 after a global economic slump last year prompted companies to cancel or delay projects in the city.
Fixed-asset investments may total between S$10 billion ($7 billion) and S$12 billion in 2010, from S$11.8 billion last year, the Economic Development Board said today. The government also aims to attract as much as S$9 billion in business spending this year from manufacturing and services industries such as information, education and health care. Full Story

Related:
Singapore expects up to 12 billion Singapore dollars investment - Monsters and Critics
Singapore sees up to S$12 bln capital investment in 2010 - Alibaba.com
Singapore Attracted S$11.8 Bln Investment In 2009 - RTTNews
Singapore's Investment Outcome Better than Expected in 2009 - english.cri.cn

Singapore December Consumer Prices Unchanged

ForexTV.com, 25 Jan 2010
(RTTNews) - Singapore consumer prices unexpectedly remained stable in December from the prior year as higher costs of transport and communication and health care were offset by lower cost of housing.
Consumer prices remained stable in December, following an annual fall of 0.2% in November, a report released by the Department of Statistics showed Monday. Consensus forecast was for an increase of 0.7% in December. Full Story

Related:
Singapore Consumer Prices Ended Eight-Month Decline in December - Bloomberg.com
Singapore's CPI Falls 0.5 Per Cent In December 09 - Bernama.com
Singapore Consumer Prices Remain Stable In December - RTTNews

PM Lee Lists Three Priorities For Singapore

Bernama.com, 25 Jan 2010
SINGAPORE, Jan 25 (Bernama) -- Singapore Prime Minister Lee Hsien Loong on Monday said restructuring of the economy, dealing with population shortfall and updating the political system were the three priorities for the city-state.
Speaking at the annual conference of the Institute of Policy Studies entitled Singapore Perspectives 2010, he said updating the political system would be the most difficult one to achieve. Full Story

Related:
Singapore's PM identifies 3 priority areas for gov't - People's Daily Online

Singapore shipper NOL posts slump in revenue per container

Monster and Critics, 25 Jan 2010
Singapore - Revenue per container at Singapore's Neptune Orient Lines Ltd (NOL) slumped 25 per cent in 2009 compared to the previous year, the company said Monday.
Average annual revenue per 40-foot-equivalent-unit (FEU) was 2,286 dollars last year, down from 3,033 a year earlier, NOL, one of the world's leading container shippers, said in a statement. Full Story

Singapore patients put in corridors

Malaysian Mirror, 25 Jan 2010
SINGAPORE - Patients in hospitals here are being put on a moveable trolley beds...in the corridor.
A green folding screen does little to shield them from hospital visitors and other patients and staff passing by.
One patient, admitted after a severe bout of diarrhoea, was given that bed and told to stay there till a new bed was freed up.
He stayed for 12 hours.
The patient, who did not want to be named, said he was told there was no bed for him in the six-bedded room within the ward. Full Story

Related:
Bed crunch in Singapore forces hospitals to put patients in corridors - The Malaysian Insider

Another Warning Sign: China-Based, Singapore-Listed Firms Rapidly Collapsing Amidst Debt And Fraud

The Business Insider, 24 Jan 2010
Since late 2007, a spate of so-called S-chips - mainland companies listed on the Singapore exchange - have borrowed money then failed to repay the debts, with some becoming mired in fraud scandals.
Of the 11 S-chips that issued convertible bonds between 2005 and 2008, six have declared themselves unable to repay. Two of those six - steel group Delong Holdings and property developer Sunshine Holdings - have successfully restructured their finances while the rest remain locked in talks with creditors. Full Story

Singapore sets English test for foreigners in service industry

The Malaysian Insider, 24 Jan 2010
SINGAPORE, Jan 24 – To provide good customer service, what should you do when speaking with a customer? This question – which requires an oral answer – is a sample from an English proficiency test.
From July, foreign workers in three industries must pass it in order to get a work permit as a skilled worker. The industries are hotel, food and beverage, and retail.
The test will have two components, speaking and listening. Full Story

Lessons From Singapore on Bank Bonuses

The Wall Street Journal, 23 Jan 2010
When it comes to pay, Wall Street could learn a thing or two from Singapore.
Outsize bonuses at big banks and securities firms have never been more controversial. Governments are on the warpath, imposing bonus taxes and new rules to force bank paymasters to change the way they compensate their talent.
Singapore's Temasek Holdings Pte. Ltd. could give them a master class on the subject. Full Story

Cheaper car washes lure Singaporeans to JB

Thestar.com.my, 25 Jan 2010
JOHOR BARU: Many Singaporeans are crossing the border just to get their cars washed because it is cheaper.
Singaporean Mohamad Iqbal, 25, said he comes here every weekend just to wash his car and buy petrol.
“The cost here is much cheaper than what we usually pay in Singapore.
“Car washers here also clean and vacuum the interior of my car without extra charge,” he said. Full Story

Singapore firms are mad about metals

The Malaysian Insider, 25 Jan 2010
SINGAPORE, Jan 25 — Local golfing equipment firm Transview Holdings is teeing off into a new sector — the booming resources field.
Responding to the red-hot commodities market, Transview has placed its chips on an Australian miner.
“We’ve identified the resource sector to be a growth engine, because of demand from China, India and the rest of the world,” said Transview executive chairman Tan Ching Khoon. Full Story

Umno Youth: Probe illegal sand sale to Singapore

Thestar.com.my, 25 Jan 2010
PETALING JAYA: Umno Youth has called for immediate action to be taken by the relevant authorities on the illegal sale of sand to Singapore.
Its chief Khairy Jamaluddin said the police, the Customs Department and the Malaysian Anti-Corruption Commission (MACC) should look into it as it also involved smuggling. Full Story

India's telecom authority may ask TataComm, Airtel to end ILD pacts with SingTel

The Economic Times, 24 Jan 2010
NEW DELHI: The Department of Telecom may ask two leading private operators -- Bharti Airtel and Tata Communications -- to terminate their contracts with Singapore Telecommunications (SingTel), which was allegedly offering international long distance services here without a licence.
Foreign telcom firm SingTel, which has over 32 per cent stake in Bharti Airtel, may also attract a penalty for violating laws and offering services in India without having proper licence. Full Story

Related:
SingTel under Indian regulatory scanner - Global Telecoms Business

Singapore GLCs invest heavily in Vietnam real estate

VietNamNet Bridge, 24 Jan 2010
While property developers from Japan, Korea and other countries are holding off on investments in Vietnam, Singaporean developers are stepping up their involvement in this country.
Singapore real estate investors are very active in Vietnam Singapore-based Keppel Land International Limited last week announced it had signed a joint-venture agreement with Tien Phuoc Company to develop an 11 hectare waterfront residential site for 175 villas along the Saigon river in Ho Chi Minh City.
Another Singaporean property developer, Sembcorp Parks Holdings, last week also broke ground at a 1,600ha integrated township in the northern city of Haiphong through the Vietnam Singapore Industrial Park and Township Development Joint Stock Company (VSIP), a joint venture with Becamex IDC Corporation. Full Story

Global civil society leaders condemn the jailing of Dr Chee Soon Juan and Ghandi Ambalam

Council for a Community of Democracies, 20 Jan 2010
The International Steering Committee of the Community of Democracies (ISC/CD), a global network of 25 civil society leaders, condemns the imprisonment and continued harassment of Singapore Democratic Party president and ISC/CD member Dr. Chee Soon Juan and his colleague, Ghandi Ambalam. The ISC/CD calls on the Convening Group of the Community of Democracies and other international and intergovernmental organizations to denounce the continued use of the law by Singapore’s government as a weapon to restrict the activities of political opposition in the country. Full Story

Related:
Chee Soon Juan and Ghandi Ambalam Detail Experience in Singapore Prison - Council for a Community of Democracies

OPINION: Singapore seeing more public demonstrations - Seah Chiang Nee

Thestar.com.my, 23 Jan 2010
Singaporeans, long conditioned to a passive existence, are getting a lesson in being pushy from new arrivals who believe that laws are not everything.
NOT usually known for speaking up, people in this legalistic society have turned a bit more aggressive in fighting for their rights in public.
This is largely due to the infusion of 1.25 million foreigners in the past five years, which has partly altered the texture of society.
The outspokenness has not come from locals but foreigners who have arrived from different parts of the world with their values. Full Story

Durgapur airport will have similar facilities and amenities as Spore's Changi airport

Calcutta Tube
Bengal Aerotropolis will start work on the proposed airport at Durgapur in West Bengal in April and expects to complete it by 2011-end, the company said here Thursday.
"We want to create similar amenities and facilities that have been created at Singapore," said Wong Woon Liong, chief executive of Changi Airports India, which holds 26 percent in Bengal Aerotropolis. Full Story

The exuberance surrounding Resort World Sentosa might be overdone: Citigroup

Thestar.com.my, 23 Jan 2010
PETALING JAYA: The exuberance surrounding Resort World Sentosa might be overdone and one broker has now recommended investors switch their focus on Genting Malaysia for value instead of its Singapore counterpart.
Citigroup said expectations surrounding Resort World Sentosa were too bullish, making Genting Singapore the world’s most expensive casino stock.
“According to Bloomberg consensus, Resort World Sentosa will be the world’s most profitable casino by 2011, implying Singapore will be generating twice the revenues of Malaysia. We strongly disagree,” it said. Full Story

Only 10 loads of sand to Singapore daily, says Malaysian Customs

The Malaysian Insider, 23 Jan 2010
JOHOR BARU, Jan 23 — The state customs department has quashed concerns that hundreds of lorries were transporting sand from Johor to Singapore each day.
On Thursday, it said that just 10 Malaysian lorries are involved in exporting sand via the Causeway every day — much less than recent statements that 500-700 lorries are doing so as they pass through the Wisma Kastam cargo checkpoint at Tanjung Puteri. Full Story

Singapore’s First Casinos To Boost GDP By Over 1%

Onlinepoker.net, 22 Jan 2010
The Singapore government believe the casinos will also provide a welcome injection of revenue for the country’s tourist industry, which enjoys around 10 million visitors each year. CLSA Asia Pacific Markets calculate that Singapore’s casinos will produce $3 billion in revenue in 2010, increasing to $6 billion in 2013. The developments have also managed to create 35,000 new jobs so far, which will rise when all services are up and running, and the anticipated overall outcome will be to raise the domestic product of Singapore by at least 1%. Full Story

S'pore to Splurge On Giving An Unprecedented Show in Shanghai World Expo

English.cri.cn, 22 Jan 2010
Singapore's participation in Shanghai World Expo 2010 is the largest to date in Singapore's World Expo experiences, signifying its strong and close bilateral ties with China, Director of World Expo of the Singapore Tourism Board Leong See Kay said on Friday.
"Singapore has participated in the World Expo for at least five times. The Singapore Pavilion in Shanghai will span about 3,000 square meters," she said, "Although it can not compare with the size of the China Pavilion, it is already Singapore's biggest undertaking ever at the World Expo." Full Story

Singapore rejects 'repressive state' tag by rights watchdog

MSN Malaysia News, 22 Jan 2010
Singapore on Friday rejected allegations by a US-based human rights group that it is a "politically repressive state".
"Singapore is a democratic state with a clean and transparent government, whose public officials are held responsible against the highest standards of probity and integrity," the Ministry of Law said in a statement to AFP.
The ministry cited the latest World Economic Forum Global Competitiveness Report which rated Singapore as "first out of 133 countries for public trust of politicians and transparency of government policymaking". Full Story

Related:
Singapore rejects 'repressive state' tag by rights watchdog - Bangkok Post

Malaysia police arrest seven in church attacks

Reuters India, 22 Jan 2010
KUALA LUMPUR (Reuters) - Malaysian police said on Friday they had arrested seven people in connection with arson attacks on two churches and a Catholic school, amid escalating religious tensions in the mainly Muslim country.
Police said seven people, men aged 17 to 29, were arrested in the northeastern state of Perak where an Anglican church, a Catholic church and a convent school were attacked.
"We believe they acted spontaneously, not part of any organised group," Perak state police chief Zulkifli Abdullah told Reuters. Full Story

Singapore employment market looks up in 2010

MIS Asia, 22 Jan 2010
SINGAPORE, 22 JANUARY 2010 – The Asian economy is definitely looking up because hiring expectations in Singapore has accelerated in the first quarter of 2010. This insight is reported in the Hudson report based on information collection by surveying more than 400 executives across key business sectors.
Hudson is a global provider of permanent recruitment, contract professionals and talent management services. These respondents were questioned during November 2009 and 51 per cent of them said they expect increased hiring in the first quarter of 2010. This represents an increase from 34 per cent in the fourth quarter of 2009. Full Story

Cable race as SingTel joins fastest undersea link

TelecomTV, 22 Jan 2010
SingTel has joined the world’s fastest undersea cable project as Singapore seeks to improve its external connectivity to match the capacity created by its next-generation national broadband network. Simon Kearney reports.
SingTel has invested in the Unity Cable, along with Google and others, between Japan and the US to boost connectivity to the US when it comes on line in the next couple of months. The cable has been laid and joined and is now undergoing testing ahead of being pressed into service. Full Story

Malaysia and Singapore to promote natural sites

Thestar.com.my, 22 Jan 2010
JOHOR BARU: Malaysia and Singapore will jointly promote the Ramsar sites in Johor and the republic’s Sungai Buloh Nature Reserves as new eco-tourism products.
The co-operation will be the first tourism initiative under the Joint Ministerial Committee (JCM) of Iskandar Malaysia in which the neighbouring nations will work closely on the development of Iskandar. Full Story

Singapore snorts over McDonald's toy pig blunder

Reuters, 22 Jan 2010
SINGAPORE (Reuters Life!) - McDonald's apologized to Singapore Friday and brought a pig back to its toy menu, after a decision to leave the animal out of its Chinese zodiac collection upset many in the predominantly ethnic Chinese nation.
McDonald's this month started selling cartoon character miniatures depicting the 12 animals of the Chinese zodiac calendar, but the pig was replaced by love god Cupid as McDonald's said it did not want to offend Muslims. Full Story

Related:
McDonald's apologizes after leaving pig out of toy collection - Monsters and Critics

Indian Army, MoD lock horns over ban on ST Kinetics

Business Standard, 22 Jan 2010
The Ministry of Defence (MoD) faces accusations of serious contradictions in the apparently ill-considered ban it had imposed last June on arms vendor Singapore Technologies Kinetic (STK). The ban was slapped on seven companies after the May 19, 2009 arrest of former Ordnance Factory Board (OFB) chairman, Sudipta Ghosh, on charges of corruption.
The ban on STK is all but collapsing. Next month, STK’s 155-mm towed gun will take part in firing trials — cleared by the MoD - for selecting a new-generation artillery piece for the Indian Army. STK’s Lightweight Assault Rifle will also begin army trials in February. Inexplicably, though, the ban remains on STK’s 155-mm Pegasus ultralight howitzer, which the army wants urgently for India’s mountain divisions. Full Story

Related:
Indian land scandal spotlights military corruption - AFP