No bling, no buzz in Singapore

Asia Times Online, 30 Apr 2010
Nothing builds a buzz like money, especially really big money, not just to stack at the betting tables but to patronize the who's who of luxury brands and celebrity chefs the IRs, especially MBS, are introducing. Yet Singapore has been oddly reluctant to welcome high rollers to play at its casinos.
The government has stringent rules against junket agents that are vital to the VIP premium player market for Asian casinos. So perhaps the nanny state isn't quite dead yet. For junket agents, obtaining a license in Singapore requires extensive financial disclosure as part of a full background check. Operationally, junket agents need to store full records in Singapore and disclose benefits given to their customers. So far few junket operators have shown interest. Full Story

Romania, Singapore In Diplomatic Row Over Traffic Death

All Headline News, 30 Apr 2010
Singapore (AHN) - Romanian Ambassador Aurelian Neagu finally appeared before Singapore’s Ministry of Foreign Affairs Thursday.
The MFA summoned Neagu to clarify his government’s statement that former charge d'affaires Silviu Ionescu still has diplomatic immunity.
The MFA had received a diplomatic note from the Romanian Foreign Ministry stating that Ionescu's diplomatic immunity "continues to subsist." Full Story

Singapore Professionals Look for Better Jobs as Economy Recovers

TopNews Singapore, 30 Apr 2010
It has been seen lately that approximately 65 % of the Singapore's finance and accounting professionals are searching for better job opportunities because the economy of Singapore is recovering and hiring sentiments are improving.
From the survey it has been seen that the employers are trying to retain their top talent, whereas some of them are concerned about losing their top talent. Full Story

Singapore Unemployment Drops In Q1

Daily Markets, 30 Apr 2010
(RTTNews) - Singapore’s Ministry of Manpower on Friday said the unemployment rate fell to a seasonally adjusted 2.2% in the first quarter from a revised 2.3% in the previous quarter. At the same time, the jobless rate, among the resident labor force, dipped to 3.2% from a revised 3.3% in the December quarter.
The report showed that employment continued to grow strongly in the first quarter of 2010, amid the robust economic recovery. Total employment rose 34,000 in the first quarter, which was the third quarterly rise after two quarters of decline in the first half of 2009. Full Story

Related:
Job Market Adding 34,000 more Workers Decreases Unemployment - TopNews Singapore

Temasek's investment in Landis+Gyr sinking

The Sydney Morning Herald, 30 Apr 2010
Nearly a decade earlier, nine shareholders featuring a who's who of local business had invested $100 million to start Bayard, a gas and electricity metering business now known as Landis+Gyr, to be run by Cameron O'Reilly, son of the Irish media mogul Sir Tony.
Media investors were brought on board: Kerry Stokes, the Fairfax family's Marinya, Sir Tony, the former Lion Nathan chairman Douglas Myers, the Singapore government investment firm Temasek Holdings, the Jack and Robert Smorgon family, the Allianz Australia chairman John Curtis and the Swiss investment fund Sears Wiederkehr.
Hopes of a float in 2008 were dashed, with the company forced to pay €20 million in advisory fees for a public listing that was pulled in the credit crisis. And like many businesses caught in the crisis, L+G was using plenty of debt. Full Story

Singapore Releases 2008 Investment Abroad Report

Gov Monitor, 29 Apr 2010
Components of Overseas Investment Singapore’s corporate sector saw their total investment abroad declined from $649.0 billion as at end 2007 to $630.6 billion as at end 2008.
The largest component was direct investment, which contributed to about 47.3 per cent (or $298.1 billion) of total investment abroad.
Portfolio investment and other foreign assets accounted for 25.5 per cent (or $160.6 billion) and 27.3 per cent (or $171.9 billion) of total overseas investment respectively.
Both stock of direct investment (-5.2 per cent) and portfolio investment (-11.5 per cent) declined in 2008, while stock of other foreign assets recorded double digit growth (12.3 per cent). Full Story

OPINION: Questions abound with President Nathan's literary debut - mrbrown

CNNGo.com, 30 Apr 2010
Another senior person has since released his book too. President SR Nathan published his first book, entitled "Why Am I Here?"
This, of course, sent Singaporeans into a nationwide collective giggle. You see, many Singaporeans don't think the President does very much and the title just screamed irony. Responses ranged from, "I also want to know why he is here!" to "He needs to justify his existence?" to "Our President so free to write book, ah?". Full Story

Singapore Leverages Its Liquid Smarts

BusinessWeek, 29 Apr 2010
Singaporeans splash their way through average annual rainfall of 93 inches, three times as much as Londoners. Yet even all that rain doesn't meet the water needs of the tropical city-state, which has virtually no lakes, rivers, or other sources of fresh water and relies on its neighbor (and occasional adversary) Malaysia for supplies. When Singapore split from the Malay Federation in 1965, founding father Lee Kuan Yew set self-sufficiency in water as a national goal. The country has since cut water imports to 50% (from 80%) of its total needs by recycling waste and building desalination plants. Full Story

Singapore March bank lending up 0.5 pct from Feb

Interactive Investor, 30 Apr 2010
SINGAPORE, April 30 (Reuters) - Total bank lending in Singapore rose 0.5 percent to S$286.3 billion in March from S$284.8 billion in February, central bank data showed on Friday. Housing loans to consumers rose 1.4 percent in March to S$94.96 billion from S$93.6 billion in February. Link

Unlikely partnership between RWS and Suntec raise eyebrows in Singapore

CEI, 29 Apr 2010
The exclusive partnership between Suntec Singapore and Resorts World Sentosa (RWS) has surprised many in the MICE industry.
Suntec and RWS will cross-sell their venues through joint sales calls, customised proposals and event concepts to international meeting planners so that participants will enjoy seamless transfers, along with exclusive and customised services and experiences. Full Story

Lim Hwee Hua: ‘Singapore a preferred venue for corporate India's expansion'

The Hindu, 30 Apr 2010
SINGAPORE:Singapore “is emerging as the preferred venue for the expansion of … Indian businesses,” according to Lim Hwee Hua, Minister in the Prime Minister's Office in the City-State.
Addressing the Singapore Indian Chamber of Commerce & Industry (SICCI) at its annual general meeting (AGM) dinner here recently, Ms. Lim said small and large companies from India were now responding to the City-State's initiative to facilitate their expansion beyond their domestic turf. Full Story

Employees ready to quit for better pay, finds new poll

Thomson Online Benefits, 30 Apr 2010
Finance professionals are ready to quit for better-paying positions, finds a new survey.
Sixty-five per cent of those polled confirmed that they are ready to leave their present jobs for better salaries and flexible benefits, found the Q1 2010 Workplace Survey by Robert Half. Full Story

Singapore defends race policies after UN envoy urges reform

Sin Chew Jit Poh, 29 Apr 2010
SINGAPORE, April 29 (AFP) - Singapore has defended its race policies after a UN envoy called for reforms including lifting restrictions on the public discussion of sensitive issues like ethnicity, language and religion.
The foreign ministry said in a statement issued Wednesday that Singapore could not risk allowing such open discussions, stressing that the government, not the United Nations, would bear the consequences of ethnic strife.
Githu Muigai, the UN special rapporteur on racism, had proposed the reforms on Wednesday, at the end of a week-long visit to the city-state. Full Story

Singapore Manufactured Product Prices Rise In March

Daily Markets, 29 Apr 2010
RTTNews) - Singapore’s manufactured products price index jumped 7.1% year-on-year in March, accelerating from the 6.6% increase in the previous month, the Department of Statistics said on Thursday.
The oil index grew by 51.3%, while the non-oil index slid by 2.7%. Full Story

Singapore airport March passenger, cargo traffic up 19 pct

Reuters India, 29 Apr 2010
SINGAPORE, April 29 (Reuters) - Singapore's Changi Airport, Asia's fifth largest, saw an 18.8 percent rise in air freight movements by tonnage in March from a year ago, indicating strong demand for goods, data showed on Thursday.
The airport also recorded an 18.8 percent rise in the passenger movement in the same month, its third consecutive double digit growth in passenger traffic. Full Story

Related:
Singapore receives 9, 28,000 visitor arrivals in March 2010 - Travel Biz Monitor

Asia's couture craving feeds Singapore's haute hopes

Reuters, 29 Apr 2010
Asia's growing economic clout -- and the millions willing to spend top dollar on luxury lifestyles -- were the buzz words at Singapore's fashion festival, an annual event the country hopes will eventually become as important as counterparts in the United States and Europe, as well as the fashion gateway for the region.
"Western designers have realized there's a great deal of money to be had in Asia and they can see that customers in China and India are moving very quickly toward becoming consumers of the very highest level," Colin McDowell, creative director of the Audi Fashion Festival, told Reuters. Full Story

Related:
Singapore capitalizes on its style sense, as fashionistas look East - National Post

Cloud demand prompts Amazon to Singapore

The Australian, 29 Apr 2010
SURGING demand for Amazon's cloud services has forced the internet giant to open a regional office and data centre in Singapore to service the Asia Pacific region.
Cloud computing services are delivered via Amazon Web Services (AWS), an arm of Amazon.com.
Local customers previously keen on using AWS would have had to rely on its data centres in the US or Europe, said Andy Jassy, AWS global vice-president, during a visit to Sydney. Full Story

Indonesian, Singaporean Air Forces to Expand Cooperation

CRIEnglish.com, 29 Apr 2010
Entering its 30 years of close relationship between the air forces of Indonesian and Singaporean militaries, leaders of the two forces agreed to expand their cooperation up to joint military training programs, an Indonesian senior air force officer said on Thursday.
"In the future, the thing that has been thought by the two forces is the human resources improvement issue. There are many joint cooperation that can be exercised to address this issue," Indonesian Air Force Deputy Commander Rear Marshall Sukirno was quoted by the Antara news agency as saying on the sidelines of annual meeting between senior air forces officers of the two neighboring countries in Bali on Thursday. Full Story

Singapore finally gets World Cup 2010 on TV

Techgoondu, 29 Apr 2010
Singapore football fans are finally getting all the live matches for World Cup 2010, after the country almost ended up as one of a handful that could not reach a deal with FIFA to broadcast the world’s biggest football show.
In the end, StarHub and StarHub are said to have ironed out a deal that will cost them about US$15 million (S$21 million), which is half the S$40 million asking price that had been reported earlier.
For the 2006 World Cup, StarHub is said to have paid US$5 million for the rights for the month-long event. Its asking price to subscribers then: S$15 for early-bird sign-ons and S$25 subsequently. Full Story

Singapore rejects UN's call for more openness on racial issues

Earth Times, 29 Apr 2010
Singapore - Singapore strongly rejected a United Nations official's call for more openness in the public debate of racial issues in the multiethnic city-state, saying it was its own right to define the balance between free expression and safeguarding racial harmony.
After a one-week visit to Singapore, UN Special Rapporteur on racism Githu Muigai on Wednesday said Singapore should review some laws because they were restricting discussion of sensitive issues and might be to the detriment of freedom of expression and freedom of assembly. Full Story

ST Telemedia's Eircom warns of 'difficult choices' ahead

Independent.ie, 29 Apr 2010
The company, which also owns Meteor, has recently opened a voluntary leaving scheme to its 6,800-strong workforce which could cost up to a further €60m. Staff have until May 21 to apply for what Mr Donovan has described as "extremely generous" redundancy packages given the economic climate.
Eircom has a debt pile of about €4bn.
The company, which was formally acquired at the start of this year by Singapore's ST Telemedia, originally introduced a voluntary redundancy scheme last year that aimed to axe 1,200 of its workforce by March 2011. To date, 800 staff have left under the scheme. Full Story

OPINION: Singapore Homelessness - Monica Kotwani

Asia Calling, 24 Apr 2010
Homelessness is not a social problem usually associated with the wealthy island state of Singapore.
Singapore is a nation of homeowners, largely thanks to a comprehensive system of government subsidised housing.
The public can either buy public housing flats directly from the government or a resale flat, which is more expensive as prices are adjusted according to market forces.
But a population explosion in the last few years and a widening income gap have resulted in public housing prices skyrocketing, and many low-income earners are unable to either meet the criteria for direct purchase or afford resale.
Even renting at market price is increasingly unaffordable to low-income families.
As Monica Kotwani found out this is leaving more Singaporeans living on the streets. Full Story

Letter: Al Jazeera responds to Vivian Balakrishnan’s accusations

Posted on The Online Citizen, 29 Apr 2010
I write in response to criticism of Al Jazeera English’s recent story on homelessness in Singapore.
Al Jazeera stands by the report which we feel is factually correct.
The homeless couple featured in our report were locked out of the system of state support because of bureaucratic regulation.
The fact that they were previously successful and had owned and sold homes was mentioned in the report, but was not strictly relevant.
The real point of story was to illustrate how the safety net in Singapore sometimes fails to catch those who have fallen on hard times – whatever their background – because of the rules governing access to assistance.
The Ministry of Community Development, Youth and Sports was twice invited to respond to the claims made in the report, but declined Al Jazeera’s request for an interview.
Nevertheless, our reporter did include a previous statement from Dr Balakrishnan defending the Singaporean government’s approach to the problem of homelessness and we would like to renew our invitation to Dr Balakrishnan to appear on the channel to discuss this issue.
Regards,
MARCUS CHEEK | EXECUTIVE PRODUCER, NEWS| ASIA
Link

Singapore-based filmmaker in hot soup over "Kuta Cowboys" film

The Jakarta Globe, 28 Apr 2010
Denpasar . While several beach boys appearing in a documentary on Bali’s “Kuta Cowboys” denied being gigolos and accused the film’s director of having tricked them, the island’s police are preparing charges of immigration and working permit violations against him.
The film, “Cowboys in Paradise,” by Singaporean director Amit Virmani, examines alleged beach gigolos operating on the resort island of Bali. The film has drawn sharp criticism from officials and tourism operators and even prompted a group to raid the beach looking for the so-called male prostitutes. Full Story

Related:
Director shocked at 'Kuta Cowboys' arrest - MSN NZ Travel

Singapore Universities Choose Turnitin to Prevent Plagiarism, Maintain Academic Integrity

PRWire, 28 Apr 2010
OAKLAND, Calif., April 28 /PRNewswire/ -- iParadigms, creator of Turnitin and the leader in originality checking and plagiarism prevention, announced that Turnitin has been adopted by all four universities in Singapore. Turnitin is used across the universities' curricula and is available to tens of thousands of educators and students.
The institutions using Turnitin include Nanyang Technological University (NTU), National University of Singapore (NUS), Singapore Management University (SMU) and SIM University (UniSIM). These universities have deployed Turnitin as part of their integrated learning management systems, used to manage courses and track student performance. Full Story

DBS Bank files winding-up petition against Vishal Retail

Livemint.com, 28 Apr 2010
New Delhi: Singapore’s DBS Bank Ltd has filed a winding-up petition against Vishal Retail Ltd in the Delhi high court in a bid to recover money it loaned to the troubled retailer, a person close to the development said.
The petition, filed earlier this week, is the latest in a string of cases DBS has brought in various courts to recover dues of around Rs40 crore from Vishal Retail. DBS Bank has also approached the debt recovery tribunal in New Delhi. Full Story

Prof Robert Thurman: Lee Kuan Yew pretends the Chinese have slave mentality

Phayul.com, 28 Apr 2010
Lee Kuan Yew of Singapore pretends that the Chinese have a slave mentality, that they have no individuality. It is false.
Chinese are very happy to have fun, to gamble, to drink, to run after girls, like any other human beings. They have also the tradition of being suppressed by other people. They are just human beings.
(Mainland Chinese), like in Taiwan would do well in a democracy. They want democracy; they don't believe in the Communist party anymore, they laugh at it. Because of the nationalism hat that they have to wear, you may not think that they do, but underneath, they want. The Chinese government knows this.
Today China is basically a capitalist oligarchy; there is an elite with hundred times more money than their workers. They are not Communist at all, but they use a Communist ideology; particularly the dictatorship of the proletariat while at the same time suppressing the proletariat. Full Story

Another Myanmar Junta General In Singapore For Medical Treatment

The Irrawaddy, 28 Apr 2010
The Burmese junta’s Secretary-1, Gen Tin Aung Myint Oo, who has been absent at state ceremonies in April, is reportedly hospitalized in Singapore.
Diplomats in Rangoon said Tin Aung Myint Oo, 60, the No. 4 ranking general and quartermaster-general of the Tatmadaw (Burmese armed forces), has been in the city state since mid-April for heath reasons.
Singapore has been the hospital treatment center of choice for ruling Burmese generals for two decades. The late dictator Gen Ne Win and the late prime minister Gen Soe Win are among the Burmese generals who have received treatment at expensive hospitals in Singapore. Full Story

UN official urges Singapore to ensure human rights for migrants

Earth Times, 28 Apr 2010
Singapore - A high-ranking United Nations official on Wednesday urged Singapore to better protect the human rights of migrant workers, saying the introduction of a minimum wage and more legal safeguards could prevent their exploitation.
"I would strongly urge the government to act swiftly to ensure the protection of migrant workers' human rights, as this is one area where the situation is quite dire," UN Special Rapporteur on racism Githu Muigai told a news conference after a one-week visit to the city-state. Full Story

‘Singapore is more than a stopover’ urge STB

Travel Daily UK, 28 Apr 2010
Singapore Tourism Board (STB) launched its YourSingapore campaign in London yesterday, encouraging agents and customers to consider the island as more than a stopover.
“Singapore doesn’t just have to be a stop-over, it can fill a city-break with a four-day itinerary. We need to re-educate the travel trade to tell them what’s new in Singapore and develop the programmes and training on our website” said STB’s Area Director of Northern and Western Europe Eunice Yeo. Full Story

Singapore Tug Boat Robbed In Kuantan Waters

Bernama.com, 28 Apr 2010
SINGAPORE, April 28 (Bernama) - Another Singapore-registered tug boat was struck by robbers within a week while it was in Kuantan waters Tuesday night.
The Regional Cooperation Agreement on Combating Piracy and Armed Robbery Against Ships in Asia Information Sharing Centre (ReCAAP ISC) here said the tug boat, PU 2402, was towing a barge laden with coal, when it was robbed by seven men armed with parang and a pistol. Full Story

Indonesia chafes at graft 'safe haven' in Singapore

MSN Malaysia News, 28 Apr 2010
Singapore promotes itself as a model of financial integrity. But, officials in Jakarta say, the wealthy city-state is a haven for some of the most corrupt Indonesians and their ill-gotten gains.
Singapore denies that it turns a blind eye to dirty money and says that if sufficient evidence is provided, it is ready to take "swift and necessary action" against corruption suspects.
But Indonesia's Deputy Attorney General Darmono said: "Singapore is the most strategic country for corruptors to run away to. Full Story

Related:
Indonesia chafes at graft 'safe haven' in Singapore - Sin Chew Jit Poh

Singapore May See ‘Steep’ Inflation Gains - MAS

BusinessWeek, 28 Apr 2010
April 28 (Bloomberg) -- Singapore’s inflation gains may become “steep” in coming quarters as improvements in the city- state’s labor market boost wages and businesses pass on higher costs to consumers, the central bank said.
The consumer price index may rise 4 percent by the fourth quarter, accelerating from March’s 1.6 percent gain, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Growth drivers are likely to be “intact” and the level of economic activity will probably be “sustained at a high level,” according to the report. Full Story

Related:
Singapore Inflation Likely To Reach 4% In Q4: MAS - RTTNews
Singapore expects higher inflation - Malaysia Star
Singapore may see ‘steep’ inflation gains, central bank says - Tehran Times
Singapore May See ‘Steep’ Inflation Gains, Central Bank Says - Bloomberg.com

Singapore Exports Its Government Expertise in Urban Planning

The New York Times, 27 Apr 2010
“In the past 40 years, we’ve acquired a good reputation for our design and master plan for urban development. A lot of cities have come here asking us how we did it, and how we got where we are in this short span of time,” said Wong Kai Yeng, group director of Singapore’s Urban Redevelopment Authority International, referring to growth since the former British colony gained independence in 1965.
While many engineering and architectural firms do business globally, Singapore is unusual in its systematic governmental efforts to export the country’s public-sector expertise — in effect, selling pieces of the Singapore Inc. model. Full Story

Property prices keep rising in Singapore and now set to see a 22% increase by end of 2010

PropertyWire, 26 Apr 2010
Private residential property prices in Singapore are continuing to rise despite recent real estate cooling measures, the latest figures show. Residential properties prices increased to 175 points for the first quarter of this year, around 5.6% higher than the previous quarter, according to the statistics released by the Urban Redevelopment Authority (URA).
This comes on top of a 7.4% increase in the final quarter of 2009 which was judged by analysts to be too high and unsustainable and resulted in a number of measures to try to cool the market amid fears of overheating. Full Story

Singapore to License Bigger Hedge-Fund Firms Under New Rules

Bloomberg.com, 28 Apr 2010
April 28 (Bloomberg) -- Hedge-fund firms in Singapore that manage more than S$250 million ($183 million) will need to be licensed under regulator proposals to increase oversight of the investment-management industry.
Hedge-fund managers are currently exempt from holding a capital-markets services license provided they manage funds on behalf of 30 or fewer of what the Monetary Authority of Singapore describes as “qualified” investors. Under the proposals, managers with less than S$250 million won’t need a license, though they will have to maintain a base capital of at least S$250,000. Full Story

Singapore passes amendment bills for elections

People's Daily Online, 28 Apr 2010
Singapore parliament on Tuesday passed the amendment bills for the parliamentary and presidential elections.
According to local TV broadcaster Channel NewsAsia, the changes revolve around a new cooling off day, the Non-Constituency Members of Parliament (NCMP) scheme as well as internet election advertizing.
The cooling off day will be on the eve of polling day, when no campaigning except for party political broadcasts is allowed. Full Story

OPINION: Singapore and the perils of political domination - Ben Bland

Asian Correspondent, 27 Apr 2010
How do you encourage more alternative voices in politically staid Singapore? If you were to ask one of Singapore's small band of civil society activists and opposition politicians, they would probably tell you the key was ending censorship of the media (direct and indirect), relaxing wide-ranging restrictions on political activity and making the city-state's electoral system more fair.
But the ruling People's Action Party (PAP), which seems to have accepted that some Singaporeans are becoming digruntled with its near-total domination of politics and public discourse, has another solution: more gerrymandering.
The government has proposed legislation to increase the minimum number of opposition voices in Singapore's parliament - where 82 of the 85 voting MPs are from the PAP - from three to nine. Full Story

Related:
Singapore's Sham Political Reforms - Asia Sentinel

OPINION: Singapore mentors Burma in sham elections - Seelan Palay

Democratic Voice Of Burma, 27 Apr 2010
As preparations for the sham elections in Burma get into full swing, it is not difficult to notice similarities in electoral practices between the Burmese generals in uniform and Singapore’s leaders in civilian clothes.
It is an undeniable fact that the military regime holds close economic ties to Singapore – the top brass of the Burmese army are known to have parked their ill-gotten millions in Singapore’s banks, while they and their family members own properties in upmarket areas and their children go to top schools and drive flashy cars, flaunting their wealth to the envy of ordinary Singaporeans. Full Story

Temasek, Hopu miner taps China Life for US$250 mln -source

Reuters, 27 Apr 2010
Iron Mining International, partly owned by private equity firm Hopu and Singapore's state investor Temasek [TEM.UL], has secured a $250 million investment from China Life (2628.HK) ahead of its planned Hong Kong IPO.
Iron Mining has revived plans for a roughly $1 billion IPO, an offering expected to be handled by Credit Suisse (CSGN.VX) and Goldman Sachs (GS.N), four sources with direct knowledge of the offering told Reuters. Full Story

Singapore Govt. To Sell More Land To Meet Strong Demand

RTTNews, 27 Apr 2010
The Singapore government will increase the supply of land to meet the strong demand, Minister for National Development Mah Bow Tan said in a response to a question in parliament on Tuesday.
Mah said the government will announce the details of the Government Land Sales programme for the second half of 2010 by this June. Full Story


Related:
Singapore May Sell More Land, Increase Property Curbs - BusinessWeek

Johor To Stop Selling Water To Singapore From Skudai Plant Next Year

Bernama.com, 27 Apr 2010
JOHOR BAHARU, April 27 (Bernama) -- Johor will stop the sale of raw water to Singapore from the Skudai water treatment plant here upon the expiry of the related agreement next year, Menteri Besar Datuk Abdul Ghani Othman said.
"Negotiations are underway to return (the Skudai plant to the state government)," he told reporters at a news conference in conjunction with the visit by Deputy Prime Minister Tan Sri Muhyiddin Yassin to the customs, immigration and quarantine complex here. Full Story

DBS to invest up to $150 mln in Hong Kong fund

Reuters, 27 Apr 2010
SINGAPORE, April 27 (Reuters) Singapore's DBS (DBSM.SI) will invest up to $150 million in a fund being launched by Hong Kong-based Myo Capital that will pick distressed debt in Asia-Pacific excluding Japan, the two companies said on Tuesday.
DBS Asset Management has also agreed to take a minority stake in Myo, they said. Full Story

Related:
DBS to Invest in Myo Fund - The New York Times

Singapore Visitor Arrivals Surge In March

RTTNews, 27 Apr 2010
Visitor arrivals to Singapore surged in March in the backdrop of gradual improvement in the global economic climate and consequent positive travel sentiment.
Tourists arrivals climbed 17.3% to reach 928,000, the highest for the month of March, the Singapore Tourism Board said in its monthly report Tuesday. This marks the fourth consecutive month of record visitor arrivals. In February, total visitor arrivals was at 857,000. Full Story


Related
Singapore tourist arrivals climb 17.3 per cent in March - Earth Times
Singapore Tourist Arrival Rate to Increase 10.18% Annually to 2015 Says New Report - PRLog
Singapore's Visitor Arrivals Up 17.3 Pct In March - Bernama.com
Singapore visitor arrivals 17.3% up on casino boost - Malaysia Star

Mysteries of Dengue to Be Unearthed by Singaporean Doctor

TopNews United States, 27 Apr 2010
A few people fall ill with hemorrhagic fever, along with extreme head ache, joint pain and the trait dengue rash. While many others, simply get away with a mild fever.
Dr. Katja Fink of the Singapore Immunology Network is keen on finding, why it happens.
Since, she has received two grants from SIgN to conduct her research, with coworkers, Wang Cheng-I and Assistant Professor, Toh Chee-Seng of the National University of Singapore, her goal will remain to develop, a rapid testing system for dengue, which will be capable of distinguishing between the four serotypes of the germ, that circulate here. Full Story

IBM opens Singapore service innovation center

ZDNet Asia, 27 Apr 2010
SINGAPORE--IBM has opened a new facility here that aims to provide a platform for local businesses to leverage the vendor's technology to create new products and services.
Dubbed "The Innovation Place", the facility is the result of a collaboration with Singapore's ICT regulator the Infocomm Development Authority (IDA), said company executives during the launch Tuesday. This is the third of IDA's Next-Gen Innovation Centres (NGICs). The first two centers are Cisco Systems' Enabling Platform Innovation Centre, which was set up in 2008, and Oracle's Enterprise Fusion Innovation Centre, which was launched in 2009. Full Story

Singapore May Tighten Anti-Smoking Rule

TopNews United States, 27 Apr 2010
Under stricter anti-smoking laws that have been introduced in Parliament, yesterday, smokeless tobacco products and innocuous-looking but possibly addictive bite-sized nicotine candies may see, a ban, in Singapore.
The Health Minister will soon announce, its final decision, on what tobacco products and alternatives will be permissible. Full Story

Singapore Plans Postgraduate Accountancy Program

The New York Times, 27 Apr 2010
Aiming to turn Singapore into a leading center for international accountancy and financial management by 2020, a government-appointed committee this month recommended the introduction of a new, postgraduate accountancy qualification program characterized by “global recognition, international portability and Asian market value.” Full Story

Sands CEO says Singapore casino to break even in 5 yrs

Reuters, 27 Apr 2010
SINGAPORE, April 27 (Reuters) - Las Vegas Sands, the world's most valuable casino firm, expects to recoup its $5.5 billion investment in its Marina Bay Sands casino in Singapore within five years, CEO Sheldon Adelson said on Tuesday.
His comments came at the opening of Singapore's second casino resort as global operators such as Las Vegas Sands and Steve Wynn's Wynn Resorts (WYNN.O) seek growth in Asia, lured by the region's growing wealth and Chinese passion for gambling. Full Story

Related:
Marina Bay Sands Casino to pay for itself within five years, says Sheldon Adelson - Gambling Online Magazine
Sands Raises Earnings Forecast for Singapore Casino - BusinessWeek
Sands Sale of Macau Malls, Apartments May Raise $12 Billion - Bloomberg.com
LV Sands sees Singapore casino returns in 5 yrs - Alibaba.com

Temasek invest US$500 million in Inmet through subsidiary Ellington

Marketwire, 23 Apr 2010
TORONTO, CANADA--(Marketwire - April 23, 2010) - Inmet Mining Corporation ("Inmet") (TSX:IMN) announced today that it has closed its previously announced private placement of $500 million of subscription receipts to Ellington Investments Pte. Ltd. ("Ellington"), an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited.
On closing, Ellington purchased 9,258,419 subscription receipts at a price of $54.0049 each for total proceeds to Inmet of $500 million. These proceeds will be held in escrow by CIBC Mellon Trust Company, as subscription receipt agent, and invested pending exchange of the subscription receipts for Inmet common shares as described below. On completion of the exchange, the proceeds will be used by Inmet for the development of its Cobre Panama project and for general corporate purposes. Full Story

Singapore Industrial Output Beats Analysts’ Forecast

BusinessWeek, 26 Apr 2010
April 26 (Bloomberg) -- Singapore’s industrial production grew at a faster pace than analysts estimated, bolstering an economic recovery that has prompted the central bank to allow the currency to strengthen.
“The surge in manufacturing activity was due to strong bio-medical production and a resurgence in semiconductor chips production” that was helped by an improvement in external demand, said Alvin Liew, an economist at Standard Chartered Plc in Singapore. Full Story

Related:
Singapore March Industrial Production Rises More Than Expected - RTTNews

Singapore Says Tighter Policy Appropriate for Rebound

BusinessWeek, 26 Apr 2010
April 26 (Bloomberg) -- Singapore’s tighter monetary policy is “appropriate” as the island’s economic recovery is becoming more entrenched, Trade Minister Lim Hng Kiang said today.
“We expect some inflationary pressures to emerge as the economy recovers,” Lim, who is also deputy chairman of the Monetary Authority of Singapore, said in response to questions in parliament today. Full Story

First phase of Singapore’s Marina Bay Sands opens today

Malaysia Star, 27 Apr 2010
SINGAPORE: Marina Bay Sands, Singapore’s second integrated resort, by the Marina Bay here, will open its doors to the public today.
In a statement yesterday, Marina Bay Sands also announced that Casino Regulatory Authority of Singapore had awarded the licence to operate a casino in the resort.
It is the second casino licence issued by the authority this year. The first was awarded to Genting’s Resorts World on Sentosa island last month. Full Story


Related:
Singapore opens second casino complex - eTravelBlackboardasia.com
PREVIEW-Sand's puts $5.5 bln bet on Singapore and Asia - Reuters
New Singapore casino threatens to poach Packer's Asian high-rollers - Brisbane Times
Singapore opens world's second most expensive casino - The Sydney Morning Herald
Sands opens Singapore's second casino-resort - eTaiwan News
Sands opens first phase of Singapore complex - Casino City Times
Sands opens Singapore's second casino-resort - The Associated Press
Singapore's second casino resort opens in Marina Bay - Sin Chew Jit Poh
Sands Opens Singapore's Second Casino-resort - CBS News
Singapore opens world's second most expensive casino - Brisbane Times
Sheldon Adelson bets $5.5 billion on stunning Marina Bay Sands - Las Vegas Sun
Sands opens Singapore casino - The China Post
First looks and impressions -- Marina Bay Sands opens its doors at long last - CNNGo.com

Poll shows that Singaporean shoppers will pay more for green goods

The China Post, 26 Apr 2010
SINGAPORE -- Middle- and upper-income Singaporeans are sceptical shoppers, and are willing to spend on eco-friendly products, according to a Reader's Digest survey released yesterday.
Conducted in October, the survey polled 1,000 Singaporeans on their most trusted brands and studied how they placed their trust.
It found that three quarters of shoppers here are willing to pay a bit extra to have a green conscience, rather than buying cheap or value brands. Full Story