Wednesday, June 30, 2010

Myanmar-Singapore bilateral trade reaches $1.86 bln

People's Daily Online, 30 Jun 2010
Myanmar-Singapore bilateral trade reached 1.86 billion U.S. dollars in 2009-10 fiscal year which ended in March, according to the latest figures of the government' s Central Statistical Organization.
Of the total, Myanmar's export to Singapore amounted to 671 million dollars, while its import from the Southeast Asian member stood at 1.198 billion dollars, suffering a trade deficit of 4 million dollars.
Singapore rose to the second position from the fifth in Myanmar 's exporting countries line-up after Thailand to replace India, which declined to the third in 2008-09. Full Story

SGX announces new organisation structure

India Infoline, 30 Jun 2010
Singapore Exchange (SGX) announced a new organisation to better capitalise on emerging Asian opportunities in the fast-changing global financial markets. Starting from 1 July, there will be 10 Business Units and 7 Support Units to provide sharper focus on key products and customer segments. Risk Management & Regulation continues to provide the regulatory balance and manage risk for the organisation. Full Story

Related:
Singapore Exchange announces two new senior positions - Reuters

OPINION: Singapore wins, for now - Muhammad Cohen

Asia Times Online, 30 Jun 2010
"Singapore has already won," independent gaming and leisure analyst Jonathan Galaviz declared, and he'd get no argument from the hundreds attending the gala opening or from the hundreds of thousands who have visited the two IRs so far.
MBS gives Singapore a new, instantly recognizable global landmark. More practically, MBS provides Singapore with a convention center as large as any in Asia and a resident production of Broadway's The Lion King, now opening in March next year rather than this October as previously announced.
Resorts World Sentosa, Genting International's already opened US$4.7 billion integrated resort, features Asia's largest Universal Studios - Singapore's long sought world-class theme park - and will soon feature its own resident modern circus production Voyage de la Vie, plus the world's biggest aquarium. Full Story

Taipei favorite city of Singaporean backpackers

Focus Taiwan News Channel, 30 Jun 2010
Singapore, June 30 (CNA) Taipei is the most popular Asian city among backpacker tourists from Singapore, according to the results of a survey published Wednesday in Singapore's Chinese-language daily Lianhe Zaobao.
Some 31 percent of the young travelers polled said Taipei is top of the list of cities they would like to visit, followed by Bangkok, Shanghai and Sydney. Full Story

S'pore, Japan safest biz destinations in Asia

ZDNet Asia, 30 Jun 2010
SINGAPORE--Businesses operating out of Singapore are "excellent" among their global counterparts in terms of repaying their loans on time. This has helped push the Republic's credit rating back up to the top-tier category in the latest country risk assessment, alongside Japan, according to a global credit insurer. Full Story

Singapore awards six water companies in research funding

Xinhua, 30 Jun 2010
SINGAPORE, June 30 (Xinhua) -- The Singapore government said on Wednesday that six water companies will each receive about 1 million Singapore dollars (0.72 million U.S. dollars) worth of research funds to carry out research and development to improve their product offerings to the global water industry.
Of the six companies, two are Singapore-based companies while the rest are strongly represented by offices in Singapore. Full Story

Temasek unit Mapletree plans two Singapore REITs

Reuters, 30 Jun 2010
June 30 (Reuters) - Mapletree Investments, a real estate firm wholly owned by Singapore state investor Temasek [TEM.UL], on Wednesday unveiled plans to list two real estate investment trusts, including an industrial REIT with S$1.73 billion ($1.23 billion) in assets.
Mapletree Industrial Trust, which comprises flatted factories, business parks and warehouses, may list in the second half of 2010, Chief Financial Officer Wong Mun Hoong said at a media briefing. Full Story

Related:
Mapletree Posts 87% Profit Jump, Forecasts Growth - BusinessWeek

Singapore Bank Lending Increases In May

RTTNews, 30 Jun 2010
(RTTNews) - Singapore bank lending increased for the seventh consecutive month in May, data from the Monetary Authority of Singapore showed Wednesday. Total bank lending rose 1.5% month-on-month in May to S$292.49 billion.
Loans to businesses totaled S$157.73 billion, up 1.7% from April. Consumer loans increased to S$134.76 billion from S$132.88 billion in April. Within the consumer loans, housing loans were up 2% to US$98.55 billion. Full Story

Related:
Singapore May Bank Loans S$292.49 Billion Vs S$288.05 Billion April - FOXBusiness.com

Asian water crisis: Asian Development Bank

AFP
SINGAPORE — Asia is in the grip of a water crisis that could set back the region's robust economic growth if left unresolved, according to a top Asian Development Bank (ADB) official.
Arjun Thapan, special adviser to ADB president Harukiko Kuroda on water and infrastructure issues, said governments must start managing the resource better to prevent the problem from worsening.
"We certainly believe that Asia is in the grip of a water crisis and one that is becoming more serious over time," Thapan told AFP on the sidelines of a water and urban planning conference in Singapore. Full Story

Singapore Can’t Become Energy-Independent - Lee Kuan Yew

BusinessWeek, 29 Jun 2010
June 29 (Bloomberg) -- Singapore won’t be able to become energy-independent because of its lack of natural resources, said Lee Kuan Yew, the country’s minister mentor.
The country can tap solar energy as a source of power, while wind and nuclear energy aren’t options, Lee said at a conference in the city state today. Neighboring countries may raise the price of gas sold to Singapore even though a contract is in place, he said. Full Story

CapitaLand May Expand Raffles City Brand in Shanghai, Tianjin

BusinessWeek, 30 Jun 2010
June 30 (Bloomberg) -- CapitaLand Ltd., Southeast Asia’s biggest developer, may expand its Raffles City brand in China by renaming two developments it acquired this year in Shanghai and the port city of Tianjin.
“If we can make some adjustments, we can rename them as Raffles City because they are very well located,” Lim Ming Yan, deputy chairman of the Singapore-based company’s China executive committee and chief executive officer of its Ascott Ltd. unit, said in an interview in New York on June 28. Full Story

OPINION: Considering Water Diplomacy - Philip Seib

The Huffington Post, 29 Jun 2010
SINGAPORE - Uneasy about relying on water imported from Malaysia and determined to sustain its booming growth, Singapore devotes much effort to innovative water planning. The Singapore River has become a giant reservoir, rainstorm runoff is carefully collected, used water is treated and recycled, and the island nation's five million residents are expected to be stingy in their water consumption. Full Story

Human trafficking

DailyTidings.com, 29 Jun 2010
Ashlander John Flynn, graduate of OSU, ex-Peace Corps Volunteer, now based in Ulaanbaatar, shared the story of Sarantuya. Flynn works for the Human Security Policy Studies Center (HSPSC), a non-governmental agency, focused on counter-human trafficking. His NGO is funded by the Swiss Agency for Development and Cooperation.
It seems counterintuitive to think that young women from remote Mongolia could be swept away into the dark world of human trafficking, sold and exploited like commodities, forced into a form of brutal modern-day slavery. Yet, it is all too common. "Women are trafficked out of Mongolia by train or bus to China and by air to Malaysia and Singapore as well South Korea for fraudulent marriages," writes Flynn. Full Story

Tuesday, June 29, 2010

Lee Kuan Yew invited to forum on Malaysian formation

Free Malaysia Today, 29 Jun 2010
KOTA KINABALU: The Borneo Heritage Foundation (BHF) and the Common Interest Group Malaysia (CigMa), two non-profit entities, will jointly organise a one-day forum themed 'Formation of Malaysia Revisited' at Beverly’s Hotel here on July 31.
The Cobbold Commission Report, the 20 Points/18 Points, the Inter-Governmental Reports (IGC), the Malaysia Agreement 1963, the 11th-hour withdrawal of Brunei, the separation of Singapore from the young federation in 1965, and series of amendments to the Federal Constitution will all be discussed.
Among the invitees are former Singapore Prime Minister Lee Kuan Yew, former Sabah Chief Ministers Peter Lo and Harris Salleh, former Sarawak Minister Amar James Wong, Prof Dr Ranjit Singh, Karim Ghani, and former Malaysian human rights commissioner Simon Sipaun. Full Story

Indians adds to Singapore tourism boom

Express India, 29 Jun 2010
Singapore India has become the second largest tourist market for Singapore, with the arrival of a record 116,000 Indian visitors in the city state in May.
The Singapore Tourism Board data released today showed that 28 per cent more Indians travelled to Singapore in May than a year ago.
Comparatively, Indonesia was the top tourist generating market with 186,000 visitors (up 43 per cent), Malaysia was third with 82,000(up 49 per cent), followed by China 72,000 visitors (up 38 per cent), and Australia with 64,000 visitors (up 7 per cent). Full Story

Hebrew University added to Singapore research program

EurekAlert, 29 Jun 2010
Jerusalem, June 29, 2010 -- The National Research Foundation (NRF) of Singapore has announced that the Hebrew University of Jerusalem will join other leading world universities that have been selected to participate in research centers in Singapore under the CREATE (Campus for Research Excellence and Technological Enterprise) program.
The Hebrew University's research project will focus on cellular and molecular mechanisms of inflammation. Full Story

Singapore Airlines Said to Plan S$500 Million Bonds

BusinessWeek, 29 Jun 2010
June 29 (Bloomberg) -- Singapore Airlines Ltd. plans to raise S$500 million ($358 million) from a sale of 10-year, 3.22 percent bonds, according to a person familiar with the matter.
The city-state’s national carrier hired Australia & New Zealand Banking Group Ltd., DBS Group Holdings Ltd., Oversea- Chinese Banking Corp. and United Overseas Bank Ltd. to manage the sale, the person said, asking not to be identified as the details are private. Full Story

Singapore launches 2010 YOG commemorative coins

People's Daily Online, 29 Jun 2010
The Monetary Authority of Singapore on Tuesday launched the Singapore 2010 Youth Olympic Games (Singapore 2010) Commemorative Coins.
The 2-Singapore-dollar bi-metal brilliant uncirculated coin features the striking symbol of the Singapore 2010 emblem on the Aluminium-Bronze core.
The 5-Singapore-dollar silver proof-like coin features the symbol of the Singapore 2010 emblem and the Olympic rings at the center flanked by two mascots in vibrant colors. Full Story

Related:
Singapore 2010 Youth Games Coin Launch - GamesBids.com

Singapore's First World Cup Casualty - British Woman Plunged To Her Death

Dailymail.co.uk, 29 Jun 2010
A British woman who was celebrating England's World Cup victory over Slovenia with friends in Singapore has died after plunging from a balcony.
Sarah Royle, 31, suffered a blood clot on her brain and broken bones in the accident on June 23 and 'died' in the ambulance taking her to hospital although the crew managed to resuscitate her.
The tragic accident came to light on Friday morning when the sisters received a phone call from the hospital in Singapore telling them Sarah was critically ill.
Doctors switched off her life support machine early on Sunday morning after her two sisters, Johanna, 35 and Premsa, 32, had flown to the Far East to be with her. Full Story

Related:
Tributes after woman plunges to death from balcony - The Independent
Tributes for Singapore death woman - The Press Association
Tributes after West Yorkshire woman plunges to death from Singapore balcony - Yorkshire Evening Post

Video: Interview with John Tan, Asst Sec-Gen from the SDP

Youtube, 29 Jun 2010
Interview with John Tan, Assistant Secretary-General from the Singapore Democrat Party, during the CALD Conference "Asian Liberal Parties in Power: Getting There, Remaining There" from 27.-29. June 2010 in Manila.

Sewage helps Singapore shake off water shackles

ABS-CBN News, 28 Jun 2010
SINGAPORE - When Singapore said it would not renew a water-supply pact with Malaysia the news hardly caused a ripple in a nation where technology is now flowing through the taps.
In the past, the idea would have seemed dangerous in a resource-starved island that bought almost all its water from its bigger neighbor.
But with Singapore steadily approaching self-sufficiency and exporting technology to recycle sewage into drinking water, there is a growing sense of confidence that it is less vulnerable to Malaysian water pressure. Full Story

Related:
Sewage helps Singapore shake off water shackles - The Economic Times
Sewage helps Singapore shake off water shackles - Free Malaysia Today
Singapore plans to triple reclaimed water capacity - Hindustan Times

Video: Singapore - One Country, Many Tongues.

Youtube, 28 Jun 2010
This short film traces the impact of these language changes on family ties within the Singaporean Chinese community.

St Andrew woman leads bushfire legal claim against Singapore Power's unit

Diamond Valley Leader, 29 Jun 2010
A FORMER St Andrews woman whose son died defending the family’s Mullers Rd home on Black Saturday will lead a class action against a power company accused of causing the Kilmore East fire.
Carol Mathews is the lead litigant in a class action launched by lawyers Maurice Blackburn against SPI Electricity, the distribution operating company for SP AusNet.
Documents tendered to the Victorian Supreme Court allege the company failed to properly inspect and maintain its powerlines, leading to a break in a 43-year-old line which started a fire near Saunders Rd in Kilmore East. Full Story

KTMB land deal: Did S'pore threaten Najib with Altantuya?

Free Malaysia Today, 29 Jun 2010
SHAH ALAM: Was Prime Minister Najib Tun Razak “coerced” by Singapore’s secret service into agreeing to the Keretapi Tanah Melayu Bhd (KTMB) land swap deal?
This was the question posed by PKR supreme council member Badrul Hisham Shahrin today.
He believes that Singapore’s secret service may have used photographs of murdered Mongolian model Altantuya Shaariibuu with Najib to threaten the premier into sealing a lopsided deal over the KTMB Tanjung Pagar issue.
Badrul Hisham said his suspicions were based on private investigator P Balasubramaniam’s statutory declaration on July 1, 2008. Full Story

Singapore: No evidence of sand smuggling

Malaysia Star, 29 Jun 2010
PETALING JAYA: There is no evidence that the sand received by Singapore’s Housing and Develop-ment Board (HDB) had been smuggled out of Malaysia, the republic’s National Development Ministry said.
It said in a statement that HDB engaged sand suppliers on a commercial basis to supply sand for its development works. Full Story

Singapore and Sichuan Companies Join Hands to Develop Innovation Park in China

TopNews Singapore, 28 Jun 2010
A hi-tech innovation park in the city of Chengdu in China will be developed by Singapore and Sichuan companies in collaboration. Under the project, a 35-square kilometer plot of land will be converted for modern manufacturing and services uses. The Singapore-Sichuan Trade and Investment Committee signed an agreement on Monday, which will help strengthening business links between two sides.
The bilateral trade between Singapore and Sichuan boosted 68.4% to US$267.12 million during the first five months of this year, compared to the same period last year, according to the enterprise agency, IE Singapore. Full Story

Related:
Singapore, China's Sichuan Province to explore collaboration in hi-tech innovation park - Global Times

Singapore funds $9m on solar and storage system research

Rechargenew.com, 28 Jun 2010
Singapore’s solar energy research is continuing its growth with a S$13m ($9.4m) research grant awarded to five research teams to improve solar cell efficiency and storage systems developed for renewable energy.
The grant was awarded by the Clean Energy Research Programme (CERP) under the government’s Clean Energy Programme Office (CEPO) to accelerate research and development efforts to help drive Singapore’s growth in the clean energy industry. Full Story

Gulf opportunities attract Singaporean companies

The National, 28 Jun 2010
SINGAPORE // Singaporean construction companies plan to step up their presence in the Gulf as they capitalise on gaps left unfilled by their more cautious Japanese counterparts.
Companies from the island-city state see the financial downturn as an “opportunity” to get involved in upcoming projects in the region, said Chua Taik Him, the deputy chief executive of International Enterprise Singapore (IE Singapore), a ministry of trade agency that promotes the overseas growth of Singaporean companies. Full Story

Monday, June 28, 2010

Singapore To Ramp Up Its Water Supply

Bernama.com, 28 Jun 2010
SINGAPORE, June 28 (Bernama) -- Singapore plans to triple the current reclaimed water (NEWater) capacity to meet 50 per cent of its demand by 2060.
The island republic also plans to ramp up desalination capacity by almost 10 times so that desalinated water will meet at least 30 per cent of its water demand in the long term. Full Story

Related:
Accolades for PUB's Marina Barrage and Variable Salinity Plant - MarketWatch

Office rents pick up in Singapore after sliding for six quarters

The China Post, 28 Jun 2010
SINGAPORE -- Rents for office space in Singapore are finally on the way up after six consecutive quarters of decline.
The economic recovery and pent-up demand have boosted monthly prime office rents from about SG$6.70 (US$4.8) per sq ft in the first quarter to SG$6.90 for this quarter, a rise of 3 percent, said property consultancy CB Richard Ellis (CBRE). Grade A rents rose 5.6 percent quarter-on-quarter to SG$8.45 per sq ft a month. Full Story

HK has the most economical local broadband in Asia Pacific

Live Trading News, 28 Jun 2010
A study report released on Sunday by the Asia Pacific Carriers’ Coalition (APCC) showed Hong Kong provides the most economical local broadband access services in the Asia Pacific region, according to the Information Service Department of the Hong Kong Special Administrative Region (HKSAR)’s government.
According to the study findings, the prices of broadband leased lines in Hong Kong at transmission speeds of 1.5 Mbps, 2 Mbps, 45 Mbps and 155 Mbps are the lowest among the 14 economies covered in the study, said a spokesman for the OFTA. Full Story

Courts Asia Withdraws Singapore IPO Prospectus

AutomatedTrader, 28 Jun 2010
SINGAPORE -(Dow Jones)- Courts Asia has withdrawn its prospectus for a planned initial public offering, according to a filing made to the Monetary Authority of Singapore Monday. The prospectus was withdrawn Friday. No reason for the withdrawal was offered. Full Story

Related:
Courts Asia: Won't Proceed With Singapore IPO - Nasdaq

Tiger Airways Passengers To Pay A$10 To Check In At Airport

Bernama.com, 28 Jun 2010
MELBOURNE, June 28 (Bernama) - Singapore-owned low-cost carrier Tiger Airways announced Monday a A$10 charge will apply to passengers who choose to check-in at the airport from July 1.
The fee will apply to travellers with no check-in baggage and can be avoided if they check-in online before their flight, the airline said. Full Story

Singapore cargo ship "seized by pirates" off Somalia

Reuters Africa, 28 Jun 2010
BEIJING June 28 (Reuters) - A Singapore-registered ship with 19 Chinese sailors onboard was seized on Monday by pirates in the Gulf of Aden, where Somali pirates have menaced ocean traffic, the Chinese Ministry of Transport.
The container cargo ship Golden Blessing was on its way from Saudi Arabia to India when it was boarded off East Africa, said a brief Chinese-language report on the Ministry website (www.moc.gov.cn).
"Currently, a rescue operation is under way," said the report. Full Story

Related:
Pirates seize Singapore ship - Voice of Russia
China: Singaporean ship hijacked in Gulf of Aden - The Associated Press
19 Chinese sailors on Singaporean ship hijacked in Gulf of Aden - Xinhua
Singaporean tanker nabbed by Somali pirates - Seatrade Asia Online
Pirates hijack ship carrying antifreeze chemical - NewsOK.com
Singapore-registered tanker hijacked in the Gulf of Aden - WireUpdate
Pirates hijack ship carrying antifreeze chemical - The Associated Press
Somali pirates hijack India-bound ship - Oneindia News
Pirates hijack Singaporean tanker - Global Times
Pirates seize Singapore cargo ship in the Gulf of Aden - BBC News

Singapore's NOL sets up $1.5 bln notes programme

Reuters, 28 Jun 2010
June 28 (Reuters) - Singapore's Neptune Orient Lines (NEPS.SI), the world's fifth largest container shipper, said on Monday it has set up a $1.5 billion medium term notes programme from which it will issue debt from time to time. Full Story

Related:
Singapore's NOL sets up $1.5 bln notes programme - Interactive Investor
Singapore's NOL hires banks for roadshow this week-source - Reuters Africa

Singapore visitor arrivals soar 30 pct in May

Reuters, 28 Jun 2010
June 28 (Reuters) - Singapore welcomed 30.3 percent more visitors in May than the same month a year ago as the city-state's two new casinos helped draw in tourists.
The Singapore Tourism Board said on Monday that 946,000 people visited the city-state last month, up from 939,000 in April and 726,000 in May 2009.
The figure was the largest ever for the month of May and followed record highs for the months of December to April. Full Story

Related:
Singapore tourist arrivals up 30.3 per cent in May - Earth Times
Singapore Chalks 30.3 Percent Growth In Tourist Arrivals In May - Bernama.com
Singapore posts sixth consecutive month of record visitor arrivals - People's Daily Online
Singapore’s Gamble Pays Off With Record Tourism in May - The Jakarta Globe

India Inc hits the jackpot in Singapore realty investments

Business Standard, 28 Jun 2010
B K Modi, founder of telecom major Spice Group, bought a penthouse in the prime Marina Bay business area in downtown Singapore, for about $10.5 million. That was in 2008, when the island nation’s real estate market was struggling to cope with the ripples of the subprime crisis in the US.
Two years later, Modi’s investment has appreciated to close to $20 million, say property dealers.
“Indians have been steadily investing in the residential market in Singapore, a major factor being increasing concentration of the Indian business community. The interest rates have also been low, at 2-2.50 per cent, which has led to rising investments,” said Sandeep Choudhary, head of an investment advisory firm dealing in Singapore’s property market. Full Story

Singapore’s ‘sustainability credentials’ undermined by environmentally destructive sand imports

Global Witness, 27 Jun 2010
"Singapore is in danger of appearing hypocritical as it promotes its commitment to sustainability while simultaneously driving demand in an industry that is wreaking havoc on Cambodia's coastal ecosystems," said George Boden of Global Witness. "Global Witness has repeatedly asked Singapore to regulate its sand trade to prevent an ecological disaster. We hoped to see action ahead of the summit, but nothing appears to have changed."
Singapore insists that sand imports are a purely commercial activity, and says that it has regulations in place that require its companies to abide by the laws of the countries with which they trade. However, Global Witness' report makes it clear that this is insufficient, especially given the history of mismanagement and misappropriation of natural resource wealth in Cambodia by its political elite. Full Story

Related:
Singapore's Cambodian sand imports blasted - OneWorld.net

Temasek's China ITS Holdings to raise HK$924 million in IPO

BusinessWeek, 27 Jun 2010
June 28 (Bloomberg) -- China ITS (Holdings) Co., part-owned by Temasek Holdings Pte and Intel Capital, and shareholders may raise as much as HK$923.7 million ($119 million) from a Hong Kong initial public offering, according to a share sale document sent to fund managers today.
Beijing-based ITS and shareholders will sell a combined 236.84 million shares, or a 15 percent stake, at HK$2.85 to HK$3.90 each, said the document. Full Story

Singapore Employers To Receive Final Jobs Credit Payout

Gov Monitor, 27 Jun 2010
More than 100,000 employers, who employ about 1.4 million local workers, will receive about $230 million in the second extension of the Jobs Credit on 30 June 2010.
This is also the last payment of the Jobs Credit. In total, more than $4.3 billion has been paid to employers in six tranches since the Jobs Credit scheme was introduced in Budget 2009.
Eligible employers will receive a notification letter by 26 June 2010 from the Inland Revenue Authority of Singapore (IRAS), to inform them of the amount of Jobs Credit they will receive in the final payment1. Full Story

China's top officials study at Singapore's knee

The Asahi Shimbun, 28 Jun 2010
SINGAPORE--The communist leaders of the world's most populous nation are taking lessons from the small city state of Singapore on how to develop an economy under one-party rule.
A stream of Chinese Communist Party officials have been traveling to Singapore to learn from the experiences of the island nation, which has developed as a hub of the Southeast Asian economy during decades of People's Action Party rule. Full Story

Singapore pushes for Mauritius-like tax treaty with India

The Economic Times, 27 Jun 2010
NEW DELHI: Singapore has sought a more liberal tax regime from India on the lines of the one it has with Mauritius, as the India-Singapore trade and investment pact comes up for review. This demand comes even as India is pitching for a review of the tax treaty it has with Mauritius to plug loopholes to avoid treaty misuse.
India and Singapore had a second review meeting of the trade and investment pact last month. “Singapore wants India to give it Mauritius like tax treatment,” a commerce department official said. Full Story

Singapore has weak libel protections: US Senator

The Sydney Morning Herald, 23 Jun 2010
Senior US politicians unveiled legislation on Tuesday to shield US journalists, authors and publishers from "libel tourists" who file suit in countries where they expect to get the most favourable ruling.
"England, Brazil, Australia, Indonesia and Singapore are just a few of the countries whose weak libel protections have attracted libel lawsuits against American journalists and authors," said Democratic Senator Patrick Leahy. Full Story

Related:
US politicians target 'libel tourism' - Ninemsn.com
US lawmakers target 'libel tourism' - Thefreelibrary.com

Saturday, June 26, 2010

Singapore is one of the top ten illegal wildlife trading hubs in the world - ACRES

RT, 26 Jun 2010
For years, traditional Chinese medicine used exotic and endangered animal organs and parts, and continues to, despite an international ban.
The illegal trade of bear gall bladders, bear bile powder, deer limbs, snake skins, lizards and bats is where Singapore’s Chinatown’s oriental charm stops.
Chinatown's markets openly and fearlessly offer what its owners could easily be punished for.
“I think when we look at Singapore in particular, trafficking is listed as one of the top ten illegal wildlife trading hubs in the world today,” said Louis Ng, executive director of ACRES (Animal Concerns Research & Education Society). “I think it is quite a big problem, because we are such a small country and yet we are contributing to this problem quite significantly toward the demise of other species.” Full Story

Indian MP in a storm over her Singapore PR status

Mumbai Mirror, 26 Jun 2010
Member of Parliament (MP) Supriya Sule may have to answer for the whispers that she is a citizen of Singapore.
The Bombay High Court on Friday ordered the Maharashtra government and the Ministry of Home Affairs (MHA) to decide on an application asking why her Indian citizenship should not be cancelled in view of her dual citizenship.
Petitioner Mrunalini Kakade claimed that Sule is the director of Laguna International Pvt Ltd and a permanent resident of Singapore. Full Story

Singapore needs to develop more advanced bond market: Lee Kuan Yew

Xinhua, 26 Jun 2010
SINGAPORE, June 25 (Xinhua) -- Singapore's Minister Mentor Lee Kuan Yew said on Friday evening that Singapore needs to develop a more advanced bond market.
Speaking at the annual dinner of Association of Banks in Singapore, Lee said that Singapore need to develop bond market to improve liquidity in capital markets, in the face of high savings rates and high debt-to-capital ratios. Full Story

OPINION: Is Singapore (emotionally) England? - Les Tan

Red Sports, 25 Jun 2010
The World Cup is one of those sporting tournaments that makes you feel keenly what you are — and what you are not.
A lot of Singaporeans are supporting England because they are familiar with the English players from the English Premier League. The EPL is the most-watched football league in Singapore. The upcoming last-16 game between Germany and England should see more Singaporeans supporting the English team. Full Story

OPINION: Goh the architect of separation - Seah Chiang Nee

Malaysia Star, 26 Jun 2010
AS new generations in Singapore and Malaysia work for a closer partnership, a bit of the past history has popped up to baffle some old-timers here. It involved the question of who in Singapore really made the decision for the break-up with Malaysia in 1965.
Until recently, the majority had thought that Lee Kuan Yew, the chief engineer who had navigated Singapore into it, was also pivotal in pulling it out when relations became intolerable. Not so, according to the 86-year-old Minister Mentor.
n his eulogy at his late former deputy leader Dr Goh Keng Swee’s funeral, Lee said the decision for a “clean break” was actually made by Dr Goh, who was tasked to negotiate with Kuala Lumpur. Full Story

Friday, June 25, 2010

Singapore could do with 2 instead of 3 local banks: Lee Kuan Yew

Reuters, 26 Jun 2010
SINGAPORE, June 25 (Reuters) - Singapore could do better with two instead of three local banks so they could expand overseas in a more meaningful manner, the city-state's senior statesman Lee Kuan Yew said on Friday.
Currently Singapore has three banks -- DBS (DBSM.SI), which is partly owned by state investor Temasek Holdings [TEM.UL], family-controlled United Oveseas Bank (UOBH.SI) and Oversea-Chinese Banking Corp. (OCBC.SI).
"I would have preferred personally that there were only two banks because I don't think Singapore was big enough for three banks," Lee said at a dinner hosted by the Association of Banks in Singapore. Full Story

Related:
Singapore sees China and India as big banking markets - The Economic Times
Singapore sees China & India as big banking markets - Press Trust Of India

Swiss train vandal to be caned, jailed in Singapore

AFP
SINGAPORE — A Singaporean court sentenced a Swiss man to five months in jail and three strokes of a cane Friday for breaking into a metro depot and spray-painting a train, a punishment that could scar him for life.
Oliver Fricker, a 32-year-old expatriate who was winding up a posting in Singapore as a software consultant, had pleaded guilty to trespass and vandalism, which are considered serious offences in the city-state.
"The total sentence is five months' imprisonment, three strokes of the cane," Judge See Kee Oon declared after a swift trial. Full Story

Related:
Swiss man to be caned and jailed for Singapore graffiti - Reuters
Swiss man to be caned for vandalizing Singapore metro train - Earth Times
Swiss graffiti man faces Singapore caning - BBC News
Singapore sentences Swiss to caning for graffiti - The Associated Press
Oliver Fricker: Graffiti Case - Puggal.com
Swiss man faces cane for vandalism in Singapore - Perth Now
Swiss Man Gets 3 Cane Strokes, Jail in Singapore Graffiti Case - BusinessWeek
Swiss vandal faces jail and caning in Singapore - Swissinfo.ch
Singapore sentences Swiss man to caning for spraying graffiti on subway car - Metronews.ca
Singapore sentences Swiss man to caning for graffiti offence - Malaysia Star
Singapore sentences Swiss to caning for graffiti - Yahoo! Canada News
Singapore to cane Swiss graffiti vandal - Brisbane Times
Singapore to cane Swiss man after train graffiti incident - Asian Correspondent
Swiss Man Receives Prison Sentence, Canning In Singapore Graffiti Case - RTTNews
Swiss man to be caned in Singapore - The Boston Globe
Caning for graffiti artist - Eastday
Singapore to cane Swiss man for spray-painting train - Ottawa Citizen
Swiss man to be caned, jailed for Singapore graffiti - Edmonton Journal
Swiss vandal faces caning, jail - Montreal Gazette
Singapore Sentences Swiss To Caning For Graffiti - Corpus Christi, TX/KRISTV.com
Caning sentence for Swiss man in Singapore - UPI.com
Will Amnesty International Stop the Caning of Swiss Man? The Real McKoy - Allvoices.com

No property bubble in Singapore yet - Lee Kuan Yew

Reuters, 26 Jun 2010
June 25 (Reuters) - There is no "bubble" yet in Singapore's residential market and the government is taking steps to ensure the sector does not overheat, the city-state's senior statesman Lee Kuan Yew said on Friday.
"There is real underlying demand," in the residential market, said Lee, Singapore's first prime minister who now holds the title of minister mentor in the cabinet of his elder son Lee Hsien Loong. Link

Related:
No property bubble in Singapore yet: Lee Kuan Yew - Interactive Investor

Singapore office rents lift after straight six quarters fall

People's Daily Online, 26 Jun 2010
Singapore office rents are picking up after sliding for six consecutive quarters, local media reported on Friday.
Property consultancy CB Richard Ellis (CBRE) said that the economic recovery and pent-up demand have boosted monthly prime office rents from about 6.70 Singapore dollars per square foot (4. 82 U.S. dollars) in the first quarter to 6.90 Singapore dollars per square foot (4.97 U.S. dollars) this quarter, a rise of 3 percent... Full Story

GIC having second thoughts about investing in India's Fortis

Reuters, 25 Jun 2010
NEW DELHI, June 25 (Reuters) - Indian hospital operator Fortis Healthcare (FOHE.BO) said the Government of Singapore Investment Corp (GIC) had decided to defer a preferential investment but the sovereign wealth fund will evaluate participating in broader fund raising by Fortis.
Fortis, pitted against Malaysian state fund Khazanah for control of Singapore hospital chain Parkway Holdings (PARM.SI), will have to offer more than $2.3 billion to buy all of Parkway. Full Story


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