PM Lee: Singapore GDP grows 14.7 percent in 2010

Bloomberg, 31 Dec 2010
SINGAPORE (AP) — Prime Minister Lee Hsien Loong says Singapore's economy grew a record 14.7 percent this year, rebounding strongly from last year's recession.
Lee said in a statement Friday that gross domestic product expanded 12.5 percent in the fourth quarter. Lee reiterated the government's GDP growth forecast for next year of between 4 percent and 6 percent. Full story

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Singapore economy grows record 14.7% in 2010: PM - AFP
Singapore Faces `Mixed' Global Outlook After Record 14.7% Growth, Lee Says - Bloomberg
Singapore grows its economy by 14.7% in 2010, improves lives - Huliq.com
Singapore premier says economy grew 14.7% in 2010 - The Mainichi Daily News
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Singapore Economy Recovers Strongly In 2010, PM Says - RTTNews
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Singapore economy sees record expansion in 2010 - BBC News
Singapore's economy booming - The Vancouver Sun
Singapore’s economy grew 14.7% - Live Trading News
Singapore sees record growth in 2010; expands 14.7% - The Hindu Business Line
Singapore announces record economic growth - Finance Markets
Singapore economy set record growth in 2010 - International Business Times
Singapore skyrockets - The Sydney Morning Herald
Sky-high Singapore: economy expanded at record rate in 2010 - Dailymail.co.uk
Singapore’s economy grows 14.7% in 2010 - TopNews Arab Emirates

Singapore bank loan rose 14.5 pct in Nov, sustained by 22 pct increase in housing loans

Nasdaq
SINGAPORE -(Dow Jones)- The Monetary Authority of Singapore Friday released the following provisional bank lending data for November:

 Sector                   November      Year Ago      October
Total                    S$318.54B     S$278.18B    S$313.26B
Housing/Bridge           S$110.95B      S$90.86B    S$109.13B
Professionals              S$3.25B       S$2.96B      S$3.18B
Building Construction     S$52.67B      S$48.58B     S$51.51B
Manufacturing             S$10.82B      S$11.03B     S$11.25

Link

Related:
Singapore Bank Lending Continues To Rise - RTTNews
Singapore November Bank Loans S$318.54 Billion Vs S$313.26 Billion October - Malaysia Sun

OPINION: Words of advice, albeit from an interested party - Eric Ellis

The Sydney Morning Herald, 31 Dec 2010
SINGAPORE MUST GIVE ITS COMPETITION COMMISSION TEETH
THIS is valid for many Asian economies hidebound by cosy family networks, but it's rarely in sharper focus than in Singapore, where the government, usually in the form of state behemoth Temasek Holdings, owns half the economy - a stake many say hinders genuine entrepreneurism.
Take its mobile phone industry. Singapore's three operators all ultimately trace their ownership to Temasek. Singapore's Competition Commission, only founded in 2005, would much rather look at how the country's events ticketing agency, SISTIC, abused its monopoly. Last year it fined it almost $1 million. Full story

Singaporeans least likely to worry about housing: survey

People's Daily Online, 31 Dec 2010
Singapore has emerged last in the latest Gallup poll of 128 countries on unaffordable housing, local media reported Friday.
The global survey by polling agency Gallup covered 1,000 or more respondents in each country, and only 1 percent of Singaporeans said there had been times over the past 12 months when they did not have enough money to provide adequate shelter for themselves and their families. Full story

Singapore announces recall of health products due to Burkholderia cepacia

Examiner.com, 31 Dec 2010
A month after the Singaporean Health Sciences Authority (HSA) announced the recall of OralGuard Antiseptic-Antiplaque Mouthwash, three more health and hygiene products are being voluntarily recalled by the manufacturing companies.
The three products being recalled are:

* “Care Wipes” by Tai Sun Paper Products Pte Ltd (Singapore)
* “Trihexid Chlorhexidine 0.2% Mouth Rinse” by Trident Pharm Pte Ltd
* “Pearlie White Fluorinze Fluoride Mouth Rinse” by Corlison Pte Ltd
Full story

CapitaLand China to sell stake in Senning Property

China Knowledge, 31 Dec 2010
Dec. 31, 2010 (China Knowledge) - Singapore-listed CapitaLand Ltd, one of Asia's largest real estate companies, yesterday announced that its wholly-owned subsidiary CapitaLand China will sell a 73% stake in Senning Property for S$759 million to form a new joint venture with other three partners, sources reported. Full story

Fuel expenses top cost for air transport firms in Singapore: survey

People's Daily Online, 31 Dec 2010
Fuel expenses cost more than remuneration for air transport firms in Singapore in 2009, although air transport services were the best paid among six industries of the transport and storage sector, according to a latest survey.
The survey on transport and storage services industry carried out in 2010 for the year 2009 by the Department of Statistics found fuel expenses took up 27.7 percent of the operating expenditure of air transport firms,..... Full story

CapitaLand to Build Raffles City in Changning, Shanghai

TradingMarkets.com, 31 Dec 2010
CapitaLand China, under the wing of Singapore real estate developer CapitaLand, on December 30, 2010 announced that it will build a Raffles City at a land for integrated use in the Changning core area, Shanghai, the second one in the city. The Raffles City, located at the core area of Shanghai Zhongshan Park, coves a land area of more than 60,000 square meters ...... Full story

Singapore's Chinatown Point to get makeover

People's Daily Online, 31 Dec 2010
The ageing facade and dated interior of Singapore's Chinatown Point were set to undergo a 75- million-Singapore dollar (57.7-million-U.S. dollar) makeover, a local newspaper reported Friday.
The makeover will be carried out in phases and will give the building a modern Chinese-themed ambience when it is completed by June 2013,... Full story

Lankan woman jailed in Singapore for passport scam

Dailymirror.lk, 31 Dec 2010
A Lankan woman who sold her passport and then reported it as lost was jailed for six months in Singapore after pleading guilty today.
A Sri Lankan woman identified as R.S. Maddumage, 38, sold her passport to another Sri Lankan woman along Serangoon Road for $600.
Six days later on Wednesday, Dec 29, she was arrested when she went to report its loss to the Immigration & Checkpoints Authority (ICA). Full story

New tourism smartcard set to be launched in Singapore

Squidcard.com, 31 Dec 2010
A new tourism smartcard is set to be launched in Singapore, according to reports.
The scheme has been created by entertainment experience provider iVenture Card and will allow users to access various tourist attractions with a single card. It will be available in both a one-day and five-day format. Full story

Malaysia, Singapore Joint Implementation Team Completes Final Meeting

Bernama.com, 31 Dec 2010
KUALA LUMPUR, Dec 31 (Bernama) -- The Malaysia and Singapore Joint Implementation Team (MSJIT) has completed its sixth and final meeting in the island republic, a Foreign Ministry statement said Friday.
The Malaysian delegation to the two-day meeting which ended yesterday was led by Foreign Ministry Secretary-General Datuk Mohd Radzi Abdul Rahman while the Singapore team was headed by Permanent Secretary of the Ministry of Foreign Affairs of Singapore Bilahari Kausikan. Full story

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Team submits draft written instrument to governments - Malaysia Star

Singapore group offers 'liberty' from same-sex attraction

MSN Philippines News, 31 Dec 2010
Describing himself as having spanned "the entire gamut" of relationships, Lung is now the executive director of Liberty League, a controversial support group which says it aims to help people who want to overcome "same-sex attractions".
"We think that it is something that can be managed, it can be something that can be overcome, and there are people who have successfully come out of it," said Lung, who considered sex-change surgery when he was younger.
Set up in 2004, Liberty League is staffed by 10 volunteers and financed by grants from the government and private donors.
Singapore gay rights activists object to Liberty League's activities. Full story

Related:
Singapore group challenges same-sex attraction - AFP
Group offers 'liberty' from same-sex attraction - The Sydney Morning Herald
Group offers ‘liberty’ from same-sex attraction - Malaysia Star
'Freedom of Choice' - The Manila Bulletin

Singapore green firms, out in the cold, wait for spring

Eco-business.com, 31 Dec 2010
Some firms are bursting with promise while the future of others is fraught with uncertainty as the green sector treads gingerly beyond 2010.
For several companies this year, it has been a case of pain before gain. The trek to promising times has been riddled with bottom lines sinking ever further into the red.
Solar thin-film company Anwell Technologies Ltd, for example, almost tripled its losses for the nine months ended Sept 30, from HK$108.6 million to HK$319.6 million (S$53.2 million). Full story

Singapore Air New CEO May Exit Virgin as Competition Grows

Bloomberg, 31 Dec 2010
Singapore Airlines Ltd.’s Goh Choon Phong, who takes over as chief executive officer tomorrow, may shed the last major remains of the carrier’s global expansion strategy as he confronts rising competition in Asia.
Goh, 47, may get offers for the airline’s 49 percent stake in Virgin Atlantic after the U.K. carrier said this month it had received tie-up inquiries. Full story

Related:
Singapore Air may sell Virgin holding - The Sydney Morning Herald
SIA may sell its stake in Virgin - Herald Sun

Singapore lending by banks to corporations exceeds 2008 record

The China Post, 31 Dec 2010
SINGAPORE -- In a fresh sign that the Singapore economy is going from strength to strength, the amount of bank lending to corporations has exceeded the record levels set in 2008. According to the latest figures from the Monetary Authority of Singapore, Singapore-dollar business loans topped an estimated SG$166 billion (US$128 billion) in October, up from September's SG$164.7 billion. Full story

Singapore Economy Probably Expanded on Manufacturing, Capping Record Year

Bloomberg, 30 Dec 2010
Singapore’s economy probably returned to growth this quarter as manufacturing rebounded, putting the nation on course to surpass Malaysia’s output with the world’s second-fastest growth rate this year. Full story

NUS resorting to Analytics to improve ranking

futureGov, 30 Dec 2010
National University of Singapore is collaborating with SAP to develop a strategic solution that will better measure and assess its research performance, CIO Tommy Hor told FutureGov Asia Pacific.
“Business analytics has taken centre stage at our university, with increasing focus on tracking, managing, and enhancing research performance and capabilities,” said Hor. Full story

Singapore sees a 46.3 per cent increase in Indian tourists

The Economic Times, 30 Dec 2010
SINGAPORE: Indian travellers visiting Singapore increased by 46.3 per cent year-on-year to 73,000 in November, making it the fourth largest tourist generating market for the city state, authorities said on Thursday.
Singapore's November tourist arrivals totalled 963,000, an increase of 16.1 per cent from a year ago, the city state's tourism board said today. Full story

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Singapore sees Big Increase in Indian Tourists - CompareCarRentals.com

Singapore Visitor Arrivals Continue To Rise In November

RTTNews, 30 Dec 2010
(RTTNews) - Visitor arrivals to Singapore rose 16.1% year-on-year to 963,000 in November, data released by the Singapore Tourism Board showed Thursday. That was the highest number of arrivals recorded for the month of November. Full story

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Singapore tourist arrivals up 16 per cent in November - Monsters and Critics

210 Singapore property agents disqualified

Gowealthy.com, 30 Dec 2010
210 property agents have had their registration applications rejected and will no longer be allowed to practise from Saturday.
Industry regulator, the Council for Estate Agencies (CEA), said the individuals were found to either have criminal records or records of offences involving fraud and dishonesty and deemed to be not "fit and proper" to be property agents. Full story

JTC's ground-breaking Jurong Rock Cavern (JRC) project finally taking shape.

TankTerminals.com, 30 Dec 2010
Construction of the $950 million first phase of the mega-project is now about one year along and some of the development's caverns, tunnels and associated facilities are in the process of being built.
JTC also said that interest from industry players - especially manufacturers on Jurong Island - is strong.
JRC, which will be South-east Asia's first underground rock cavern for oil storage, will offer some 1.47 million cubic metres of oil storage space for the storage of liquid hydrocarbons such as crude oil, naphtha, condensates and gas oil once it is completed in 2014. Full story

Malaysia struggles to stem 'brain drain'

AFP
KUALA LUMPUR — When computer engineer Wan Jon Yew left Malaysia in 2005 for a job in Singapore, all he wanted was to work in the city state for a few years before going home. Now, he says, he will never return.
With a family, a home and a car, he now plans to settle in Singapore for good -- just one of the many Malaysians stampeding abroad every year in a worrying "brain drain" the government is trying to reverse.
"I wouldn't consider going back to Malaysia, I won't look back. If I were ever going to leave Singapore, I would migrate to Australia," said the 28-year-old, who now has permanent resident status. Full story

Singapore Exchange consults public on Nifty option contract

The Economic Times, 30 Dec 2010
SINGAPORE: Singapore Exchange (SGX) on Thursday said it is consulting the public on proposed introduction of Options on India's S&P CNX Nifty Index on its derivatives platform in Singapore.
The proposed Options contract complements the popular S&P CNX Nifty Futures, which had an average daily trading volume of 55,966 contracts and an open interest of close to 198,000 contracts last month, said the SGX. Full story

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Singapore Exchange consults public on Nifty option contract - TradingMarkets.com

StarHub snags S'pore IR communications deal

ZDNet Asia, 30 Dec 2010
StarHub has inked a multi-year, multi-million dollar deal to equip Singapore's second integrated resort (IR), the Marina Bay Sands (MBS), with ICT capabilities.
The telco will provide MBS mobile voice and data services, high-speed Internet connectivity, pay TV and enterprise messaging, it said in a statement on Wednesday. Full story

Shanghai students top in PISA Test

The New York Times, 7 Dec 2010
The test, the Program for International Student Assessment, known as PISA, was given to 15-year-old students by the Organization for Economic Cooperation and Development, a Paris-based group that includes the world’s major industrial powers.
In math, the Shanghai students performed in a class by themselves, outperforming second-place Singapore, which has been seen as an educational superstar in recent years. Full story

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U.S. no longer ‘in the hunt’ for high school academic dominance - qctimes.com

Singapore's air quality falls short of world standard

Eco-business.com, 30 Dec 2010
Singapore, December 30 - When it comes to good, clean air, Singapore trumps many of its South-east Asian neighbours, but its air quality still falls short of world standards.
Blame the haze, a burgeoning car population, construction boom and growing industrial hubs like Jurong Island - all of which could potentially churn out plenty of smog that could have an impact on people’s health. Full story

SPH eyes malls, says magazines a growth business

Theedgesingapore.com, 30 Dec 2010
Singapore Press Holdings (SPH) (SPRM.SI) is eyeing further investments in real estate, in particular shopping malls that will provide recurring income, but media will remain the firm’s core business, its chief financial officer said.
Apartment sales and rental income accounted for a quarter of SPH’s $1.4 billion operating revenue last financial year, and the firm is currently building a mall in a western suburb of Singapore that will open early next year. Full story

SIA seeking ‘interesting’ opportunity for Virgin stake

eTravelBlackboard.com, 30 Dec 2010
Singapore Airlines (SIA) is open to any “interesting” opportunity in terms of selling its stake in British airline Virgin Atlantic. Virgin Atlantic made its intentions to merge the carrier with another airline clear approximately six months ago.
Vice-president of public affairs at SIA Nicholas Ionides said “at this point no decision has been made about an immediate divestment of our stake in Virgin.” Full story

Malaysia win their first ASEAN Cup

Viet Nam News, 30 Dec 2010
HA NOI — Malaysia beat Indonesia 4-2 on aggregate to win the ASEAN Football Federation (AFF) Suzuki Cup for the first time in the country's history yesterday in Jakarta, Indonesia.
A loss of 1-2 to the hosts in the final's second leg match could not stop Malaysia from opening a new chapter in the history of the regional football tournament which up until now had been dominated by three-time winners Thailand and Singapore. Full story

Janet Jackson To Start 'Number Ones' Tour In Singapore

RTTNews, 29 Dec 2010
(RTTNews) - Janet Jackson has announced that her upcoming "Number Ones, Up Close and Personal" tour will now start on February 7 in Singapore. The tour was originally scheduled to begin on February 14 in Hong Kong but the opening date was moved following considerable fan requests. Full story

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Indian politicians alleged to have used "one dollar" Singapore company to evade tax

BombayNews.net
The company is said to have signed an agreement with a one-dollar Singapore company for selling iron ore at a price much below market price and later exported it at a higher price to evade income tax payment. Full story

OPINION: Top 10 Newsmakers of 2010 - Luke Hunt

The Diplomat, 29 Dec 2010
Vintage performances by former Singaporean Prime Minister Lee Kuan Yew on the diplomatic circuit, as the controversial WikiLeaks cables revealed what he really thinks of the neighbours, were as refreshing as they were divisive and earn the city state’s minister mentor 10th spot in our round-up of regional newsmakers. Full story

OPINION: Development without democracy? - Almas Kusherbayev

CIPE.org, 28 Dec 2010
The debate on whether a market economy can exist without democracy is ongoing, and many think that at least two countries in the world are good examples of how the former can exist without the latter: China and Singapore. The question is whether such systems can be models for development without democracy in other countries. But a closer look at the nature of China’s and Singapore’s economic transformation highlights some important political and social factors as well that hardly make their models universal. Full story

Singapore casino to launch world's first ArtScience museum

Reuters, 29 Dec 2010
Singapore's Marina Bay Sands will open the world's first ArtScience museum in February, the latest attraction at its $5.5 billion gambling complex built by U.S. casino giant Las Vegas Sands. With a form reminiscent of a lotus flower designed by renowned architect Moshe Safdie, .... Full story

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Marina Bay Sands to open world's first ArtScience museum - Casino City Times

Singapore, Japan Make More Proposals To Study Myanmar Earthquake Belt

Bernama.com, 29 Dec 2010
YANGON, Dec 29 (Bernama) -- Singapore and Japan have made more proposals to study Myanmar's earthquake belt in next year to help the country deal with disaster mitigation problem, China's Xinhua news agency quoted the Myanmar Newsweek's report Wednesday.
Besides the professors from the Nanyang University of Singapore and the Tokyo University from Japan, those from Chinese Taipei will also come to Myanmar for the move, the Myanmar Earthquake Committee (MEC) was quoted as saying. Full story

AirAsia boss denies any plan to buy into Virgin Atlantic

Travel Daily News, 29 Dec 2010
According to e-Global Travel Media, AirAsia group Chief Executive Datuk Seri Tony Fernandes has denied that any plans exist to buy a stake in the British carrier, which is widely reported to be seeking a partner or partners. Britain’s Sunday Times newspaper reported that AirAsia, the region’s largest low-cost carrier by fleet size, was a suitor.
But Fernandes, contacted by Malaysia’s Star newspaper, poured cold water on the suggestion. He said no discussions were taking place and he had no idea why any such speculation existed. Full story

Singapore To Strengthen Teacher Student Relationships

Gov Monitor, 28 Dec 2010
Secondary school students will be given greater social-emotional support and career guidance, as they discover their strengths, build character and develop citizenship during the crucial period of adolescence.
The aim is to nurture students through their adolescence, and better prepare them for learning, for post-secondary education and also for life. Full story

Seri Temasek Awards To Honour Malaysia, Singapore's Actors And Actresses

Bernama.com, 28 Dec 2010
The Malaysia National Film Development Corporation (Finas) with the cooperation of the Central Council of Malay Cultural Organisations Singapore and Hann's Entertainment will be organising the Seri Temasek Award 2011 presentation to honour and recognise the contributions made by actors and actresses of the two neighbouring countries. Full story

Traditional Chinese medicine herbs prices surge in Singapore

Xinhua, 28 Dec 2010
SINGAPORE, Dec. 28 (Xinhua) -- The prices of most herbs used in traditional Chinese medicine (TCM) rose by 30 percent this year in Singapore.
Local herbs wholesalers contribute the price increase to the stronger Chinese currency and herbus supply shortages, ..... The supply shortages are the result of major natural disasters which wiped out swathes of herbal plantations in China. Full story

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Intel’s Core i7-2630QM Sandy Bridge Processor reportedly spotted in Singapore

Tech Pinger, 28 Dec 2010
Computer world is talking about New Processor, it was expected that the Intel’s next generation Processor at CES 2011. But some report says the Processor code named “Sandy Bridge” has already spotted in Asian Markets.
The latest sighting comes from Singapore, where HP is selling a dv6 laptop loaded with quad-core Core i7-2630QM. Full story

Lionel Yee Woon Chin instated as Second Solicitor-General in Singapore

TopNews United States, 28 Dec 2010
Lionel Yee Woon Chin who is serving as the Director-General of the International Affairs Division in the Attorney-General's Chambers (AGC) has been instated as the Second Solicitor-General and he will pursue the related tasks from 1 January 2011 for the first three years. Full story

Related:
Lionel Yee Woon Chin Appointed Second Solicitor General For Singapore - Gov Monitor

Singapore military extend offer of LASIK surgery to more regular soldiers next year

Bloomberg, 28 Dec 2010
Singapore will extend its offer of vision-correcting surgery to more regulars in its armed forces next year, aiming to improve the way they shoot, swim or pilot planes,..... Singapore Armed Forces has doubled the number of candidates available for critical jobs such as pilots, commandos and navy drivers over the past five years .... Full story

Singapore companies buying up bargain distressed assets

The China Post, 28 Dec 2010
SINGAPORE -- Singaporean companies have been picking up distressed assets, such as property in the United States and Indonesia, in the aftermath of the global financial crisis.
However, prices for these fire-sale assets are rising, and bargains are now thin on the ground as the economy recovers.
One factor is a recent move by the U.S. central bank to pump hundreds of billions of dollars into the economy, in a program known as quantitative easing. Full story

Singapore ends October with 1 mln 3G prepaid users

Telecompaper, 27 Dec 2010
Singapore has ended October with 7.213 million mobile subscribers, up from 7.178 million in September. The mobile penetration rate stood at 142.1 percent, up from 141.4 percent in the prior month, according to figures from regulator IDA. Of the total, 309,900 are 2G postpaid subscribers, 2.438 million are 2G prepaid subscribers, 3.401 million are 3G postpaid subscribers, and 1.06 million are 3G prepaid customers. Full story

Singapore on course for record year in container throughput

PortWorld News, 27 Dec 2010
The Port of Singapore looks set for its second most successful year in terms of container throughput, according to media reports.
Records at the port indicate that November saw another strong performance with over 2.4 million twenty-foot equivalent units (TEUs) passing through its terminals. Full story

Poll shows two-thirds of Australians oppose Singapore takeover of ASX

The Sydney Morning Herald, 28 Dec 2010
TWO-THIRDS of Australians oppose the Singapore Stock Exchange's proposed takeover of the Australian Stock Exchange. Coalition supporters are even more against the move than Labor voters.
A poll by UMR Research shows 62 per cent of Labor voters and 71 per cent of Coalition voters oppose the venture, an even higher level than the 65 per cent of Greens opponents.
The emphatic result is likely to cast deeper doubt over the chances of the federal Parliament giving the approval required if the government does seek the necessary regulatory change to lift the 15 per cent ownership cap on the ASX. Full story

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Australians oppose ASX-SGX merger: survey - Business Spectator
SGX chief says ASX bid will go ahead: report - Business Spectator
Singapore Exchange to press ahead with $8.2-bn merger with ASX news - domain-b.com
SGX to push on with purchase of ASX - Sky News

Singapore Exchange to expand membership to foreign brokers

TradingMarkets.com, 27 Dec 2010
Foreign brokers operating abroad will be taken under the fold of the Singapore Exchange (SGX), when it expands membership on the securities market.
Regarded as "Remote Trading Members", these brokers will observe their home rules and deal only for foreign investors. Full story

Singapore taking incremental approach to cooling market

Property-report.com, 27 Dec 2010
Singapore’s government intervened twice in the property market in 2010 with a cautious approach of incremental steps in order to bring prices down but not crash the market, says National Development Minister Mah Bow Tan.
Mah said it will be a few more months before the full extent of August’s cooling measures are felt. The government has indicated it will introduce more measures if necessary to curb speculation, but for now it appears no further action will be taken as it monitors the impact of the latest round of measures. Full story

Behave at S'pore casinos or risk a ban

TMCnet.com, 27 Dec 2010
Casinos in Singapore have been declaring patrons who breach house rules persona non grata -- Latin for 'an unwelcome person' -- and barring them entry. These patrons will be given a notice informing them that they are barred from the premises.
Unlike exclusion orders such as the voluntary and family exclusions that are implemented by the authorities, casinos can decide on their own whom they will allow on their premises. Full story

Related:
Casino Users Warned Of Dangers Of Breaking Rules - 777.com

Singapore, U.S. scientists collaborate in flu virus genetic research

Xinhua, 27 Dec 2010
SINGAPORE, Dec. 27 (Xinhua) -- Scientists from Singapore and the United States have designed an automated approach to identify dangerous changes in the genome of the influenza virus with high accuracy and sensitivity, Singapore's Agency for Science, Technology and Research said on Monday. According to the agency, available freely as a software package called Graph-incompatibility based Reassortment Finder (GiRaF),.... Full story

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Singapore, US scientists collaborate in flu virus genetic research - Malaysia Star