Singapore News Alternative: May 2011

Tuesday, May 31, 2011

Lee Hsien Loong Named Chairman of GIC, Succeeding His Father

San Francisco Chronicle, 31 May 2011
May 31 (Bloomberg) -- Singapore Prime Minister Lee Hsien Loong was named chairman of Government of Singapore Investment Corp., which manages more than $100 billion of the island's assets, succeeding his father Lee Kuan Yew.
The elder Lee will be senior adviser to the sovereign wealth fund and the changes are effective June 1, according to an e-mailed statement today. Full story

Related:
Lee Hsien Loong Named Chairman of GIC - Bloomberg

Yeo Guat Kwang – PAP MP with 64 other jobs

Temasek Review, 31 May 2011
Other being a PAP MP, he has an amazing 64 other positions:
1) Member, Government Parliamentary Committee on Manpower
2) Member, Government Parliamentary Committee on Community Development, Youth & Sports
3) Member, GPC for Ministry of Information, Communications and the Arts
4) Vice Chairman, Aljunied Town Council
5) Alignment Director, NTUC Quality Worklife & All Nationalities
6) Acting Advisor to Taxi Operators’ Association
7) President of Consumers Association of Singapore (CASE)
8) Vice-Chairman, North East Community Development Council
9) Member, Board of Directors of PUB Board
10) Advisor to the Singapore Table Tennis Association
11) Advisor to the Singapore WeiQi Association
12) Advisor to the Ren Ci Hospital
13) Advisor to the Bright Vision Hospital
14) Advisor to Artistes & Performers’ Association
15) Advisor to Restaurants Association of Singapore
16) Executive Secretary, Singapore Chinese Teachers’ Unions
17) Director, Financial Industry Disputes Resolution Centre (FIDReC)
18) Advisor, Federation of Merchants’ Associations, Singapore
19) Executive Secretary, Amalgamated Union of Statutory Board Employees
20) Member, Workplace Health and Safety Council
21) Co-Chairman, National Tripartite Committee on Workplace Health
22) Co-Chairman, Customer Centric Initiatives
23) Co-Chairman, NTUC-SNEF Migrant Workers’ Forum
24) Member, Aids Business Alliance
25) Member, Mental Health Alliance
26) Member, Centre for Service Excellence and Leadership Governing Council
27) Member, SPRING Standards Council
28) Patron to Pets Enterprises & Traders Association (PETAS)
29) PAP Community Foundation HQ Executive Committee
30) Member, Committee to Promote Chinese Language Learning (CPCLL)
31) Member, Agri-Food & Veterinary Authority of Singapore (AVA)
32) Member, AVA Human Resource Committee
33) Member, WSH Council Finance Committee
34) Member, Tripartite Committee on Employability of Older Workers
35) Member, Tripartite Committee on Portable Medical Benefits
36) Member, Tripartite Committee on Flexible Work Arrangement
37) Member, Quality Service Advisory Council
38) Member, Institute for Service Excellence @ SMU (ISES) Governing Council
39) Member, Motor Industry Disputes Resolution Centre Pte Ltd Board of Governors
40) Member, Retail Price Watch Group
41) Member,Tobacco Licensing Consultative Panel
42) Member, Ngee Ann Kongsi Council
43) Advisor, Inland Revenue Authority of Singapore Staff Union (IRASSU)
44) Advisor & Trustee, NatSteel Employees Union (NEU)
45) Business Advisor, NTUC LearningHub Pte Ltd
46) Advisor, Yeo Clan General Association
47) Advisor, Singapore Taoist Federation
48) Advisor, Fo Guang Shan (Singapore)
49) Advisor, Mun San Fook Tuck Chee
50) Advisor, Society of Sheng Hong Welfare Services
51) Advisor, Sian Chay Medical Institution
52) Advisor, Society of Tourist Guides (Singapore)
53) Advisor, Singapore Furniture Association
54) Advisor, Eggs’ Import/Export Trading Association (Singapore)
55) Advisor, Federation of Merchants’ Singapore
56) Advisor, JCI Senators Club of Singapore
57) Advisory Board Member, Singapore-China Association for Advancement of Science & Technology
58) Patron. Buddist Fellowship
59) Independent Director, Grandwork Interior Pte Ltd
60) Independent Director, Japan Foods Holding Ltd
61) Independent Director, Koyo International Ltd
62) Independent Director, United Envirotech Ltd
63) Independent Director, Asia Water Technology Ltd
64) Independent Director, HLH Group Ltd
Full story

Sex and drug parties in Singapore chalets?

Yahoo! Singapore News, 31 May 2011
While it is usual to see teenagers in Singapore gathering in chalets for barbecues or birthday celebrations, some of their peers get together only to engage in sex and drug parties.
Once intoxicated after a cocktail of alcohol and illegal drugs, some of these teens, which include girls as young as 14, engage in sexual intimacy -- from heavy petting to intercourse.
It is understood that such chalets stays are organised by some members of gangs in Singapore, and that they are getting more common. Full story

Netizens list their choice for President

Yahoo! Singapore News, 31 May 2011
Netizens say Singapore's next President should be non-partisan and a non-PAP member.
When Yahoo! Answers asked netizens who they would like to have as Singapore's next President, many suggested ex-Foreign Affairs Minister George Yeo, former Deputy Prime Ministers Dr Tony Tan and Professor S Jayakumar, and ex-Member of Parliament Dr Tan Cheng Bock. Full story

OPINION: Expect a different kind of presidential election in Singapore — Eugene K.B. Tan

The Malaysian Insider, 31 May 2011
MAY 31 — The forthcoming presidential election in Singapore will, in all likelihood, be different from the previous ones.
This is the first time that both parliamentary and presidential elections are being held in the same year, separated by a mere three months. The dust from this month’s general election has yet to settle and we are on the threshold of the fourth presidential election, with polling likely to be in August. Full story

Singapore suspends import of Sunlight Brand beverages over DEHP concerns

People's Daily Online, 31 May 2011
The Agri-Food and Veterinary Authority (AVA) of Singapore announced on Monday that it has suspended the import of Sunlight Brand drinks from China's Taiwan for failing tests for the industrial plasticiser DEHP.
The authority said it has so far tested 26 samples from 13 brands for DEHP, a plasticiser used to soften plastics and make them flexible and not meant for food use and should not be added to food. Full story

Singapore Polytechnic training Abu Dhabi fab workers

EE Times, 30 May 2011
LONDON – Teaching institute Singapore Polytechnic has signed an agreement to train wafer fab workers for Abu Dhabi. Some 50 men and women from the Emirate of Abu Dhabi will form the pioneering class following an agreement signed between the Abu Dhabi owned Advanced Technology Investment Co. (ATIC); foundry Globalfoundries Inc., which is majority-owned by ATIC; and Singapore Polytechnic. Full story

Singapore's 'Mother Teresa' meets Taiwan's Master Cheng Yen

Focus Taiwan News Channel, 30 May 2011
Taipei, May 30 (CNA) A centenarian social worker from Singapore, Teresa Hsu Chih, met with Master Cheng Yen, founder of Taiwan's largest charity organization, Sunday to talk about philanthropy and their experiences in helping others.
Hsu, 112, better known as Singapore's Mother Teresa, was asked by Cheng Yen, 74, who founded the Tzu Chi Foundation, how she has shown compassion to people. Full story

Singapore Airlines' budget carrier a risky gamble - analyst

The Sydney Morning Herald, 31 May 2011
Singapore Airlines' decision to launch a long-haul budget carrier is a risky but necessary gamble as it comes under growing pressure at both ends of the market, aviation analysts said.
Analysts estimate that SIA gets 40-50 per cent of its revenue from the higher end of the market.
"Low-cost carriers, even for long haul, is the way forward," said Julius Yeo, a Singapore-based aviation analyst with Frost and Sullivan consultancy.
"The downside is the worry about diluting the SIA brand but the good part is they are willing to take the risk," said Yeo. Full story

More than 61pct of professionals in Singapore want to change job within 3 months

FinanceAsia, 31 May 2011
More than 61% of professionals in Singapore are hoping to move jobs within the next three months, according to a recent global poll conducted by recruitment consultancy Robert Walters.
Participants, who work in finance and general commerce, were asked when they hoped to make their next career move, with answer options ranging from the next three months to three years. In fact, none of the Singaporean respondents want to hang around for much longer.
The poll also showed 24% are hoping to job-hop in the next three-to-six months, 7% in six-to-12 months, and 8% are looking to move in 12-to-18 months. Full story

Singapore's Orchard Street: Great film location for Rajini?

IBNLive, 30 May 2011
New Delhi: Picture this. Tamil super star Rajinikanth's health is getting decidedly better and he decides he's had enough of lying around in the hospital bed at the Mount Elizabeth Hospital in downtown Singapore.
While he is in Singapore, why not scout the area as a location for his next film?
It's an area that is quiet on the inside street, with a couple of calm bylanes, a high-rise apartment complex and the popular Elizabeth hotel at the dead end. Too boring a setting for a Rajini starrer? Full story

Hollywood Hit Makers Coming to Singapore

Jakarta Globe, 30 May 2011
The Little Red Dot will soon become the focus of the film world when movie icons such as Tom Hanks, Oliver Stone and Zhang Ziyi descend on the city-state for the first-ever ScreenSingapore cinema event.
Coming right after the Cannes Film Festival, the inaugural edition of ScreenSingapore hopes to establish the city-state as a regional hub of the global film industry. Scheduled for June 5-12, the event aims to bring together filmmakers, producers, industry buyers, sellers, policy makers and creative talents from all over the world to showcase their products, exchange ideas and build networks. Full story

Singapore ends March with 7.4 mln mobile users

Telecompaper, 31 May 2011
Singapore ended March with 7.384 million mobile users, up from 7.320 million in February. The mobile penetration rate grew to 145.5 percent from 144.2 percent a month earlier, according to figures from regulator IDA. Of the total mobile subscribers in Singapore, 265,200 are 2G postpaid subscribers, 2.123 million are 2G prepaid subscribers, 3.557 million are 3G postpaid subscribers, and 1.439 million are 3G prepaid customers. The number of broadband subscribers went up to 8.192 million from 8.053 million in February. Of the total, 564,100 use xDSL, 681,000 subscribers access the internet via cable, 6.923 million use wireless broadband, and 24,200 subscribers use other access technologies. Furthermore, some 64,800 people still used dial-up technology in March, down from 65,800 in February. Link

Singapore Dollar a Must Own Currency

Live Trading News, 30 May 2011
Shayne Heffernan has upgraded the Singapore Dollar from a strong buy to a Must Own currency.
Singapore’s dollar strengthened 0.3 percent to S$1.2393 against its U.S. counterpart as of 4:07 p.m. local time, rising as much as 0.6 percent earlier.
The Singapore dollar hit new highs several times this year and is well on the way to reach parity by 2015, as more and more investors seek a safe haven from the ever falling USD many have turned to Asian investments giving most regional currencies a strong currencies a lift. Full story

World Banks Survey Highlights Singapore as the Best Place for Business

PR*Urgent, 30 May 2011
Singapore, May 30, 2011- Recent studies on the growing world economies clearly indicate Singapore as one of the most prominent investment destinations. Such reports highlight the growing interest of foreign companies,finding perfect opportunity in Singapore. In fact most of the offshore companies are thinking about opening representative offices, company branches or even a complete relocation to this much eyed destination. Full story

Monday, May 30, 2011

Nicole Seah on donations controversy: I understand people’s concerns

Yahoo! Singapore News, 30 May 2011
When Yahoo! Singapore caught up with Seah for a one-on-one interview last Friday, she said that it is not illegal to solicit for political donations online but she understood why it sparked so much heated debate.
"With regards to the Political Donations Act, there is no legal issue involved but I understand that this is something new," said Seah.
"So that has led to some people questioning whether this was the right way to go," she added.
On why her own personal account was used instead of the party's, NSP party chief Goh Meng Seng had explained earlier that "it would be technically tedious for us to differentiate between funding meant for the Marine Parade team if donations are made to the party's bank account." Full story

Unfair to blame rulling party's grassroots leaders, they gave "honest" feedback: PM Lee

Yahoo! Singapore News, 30 May 2011
Prime Minister Lee Hsien Loong on Saturday dismissed criticisms that grassroots leaders had not been providing sufficiently candid feedback from the ground to Members of Parliament of the ruling People's Action Party (PAP), resulting in a misreading of sentiment among the electorate.
Speaking at a dinner on Saturday to thank PAP volunteers, PM Lee emphasised that it would be "unfair" to put the blame on grassroots leaders as the feedback received from them had been "honest". Full story

Singapore’s Property Market Headed Towards a Perfect Storm?

CNBC, 30 May 2011
At a recent real estate conference organized by the National University of Singapore, which explored the theme “Will the boom never end,” Chua Chor Hoon, Head of South East Asia Research at property consultancy DTZ, said the Singapore residential market is not likely to decline much because of strong economic growth. But, she also outlined a worst-case scenario, which could unfold as early as 2013-2014. "If all the ingredients come together it will make a perfect storm," she told the audience.
These ingredients include falling demand, more supply and higher interest rates all kicking in together. Full story

Related:
2013-14 could spell trouble for Singapore property - H88.com.sg

Temasek, ST Telemedia face pressure to make call on debt-ridden Eircom

The Irish Times, 30 May 2011
PRESSURE IS starting to mount on STT to decide what it is going to do about Eircom.
The Singapore-based group – which is owned by the city-states sovereign wealth fund Temasek – has been a model of eastern inscrutability since taking control of the national phone network at the start of last year.
They paid a mere €140 million for the company, but it came with an unsustainable debt mountain of €3.75 billion. Full story

Singapore to stand pat on oil market regulation, unlike U.S.

Forexyard, 30 May 2011
SINGAPORE, May 27 (Reuters) - Singapore will stand pat on the rules that govern oil trade and the way it allows global energy companies to operate in the country, as it opts not to follow suit on one of the biggest ever crackdowns by U.S. regulators.
The city-state's interests aims to maintain its allure as a global financial and trading centre rather than risk imposing regulations that might keep trade away. Unlike in the U.S. and Europe, there is no public clamour among its voting public for any such action, and even if the government were to tightens norms, the impact on global trade would likely be limited. Full story

Push to free 'world's saddest dolphins' from Singapore theme park

The Sydney Morning Herald, 30 May 2011
A Singapore animal welfare group on Friday launched a campaign to urge a casino and leisure complex to free 25 dolphins destined for a new marine park attraction.
Resorts World Sentosa (RWS) bought the mammals for an "interactive dolphin spa programme" at its Marine Life Park, where visitors can interact with the animals.
"We hope that RWS will make a socially responsible decision and free the dolphins," said Louis Ng, executive director of the Animal Concerns Research and Education Society (ACRES). Full story

180-yr-old shrine in Singapore restored by Indian Muslim community

The Times Of India, 30 May 2011
SINGAPORE: Nagore Dargah, over 180-year-old shrine in Singapore, has been reopened after it was restored by the Indian Muslim community in the country.
President SR Nathan opened the shrine - the Nagore Dargah Indian Muslim Heritage Centre - in the Central Business District yesterday, The Straits Times reported.
The restoration project was undertaken by the Indian Muslim community and facilitated by the Islamic Religious Council of Singapore. Full story

OPINION: Fair winds forecast as SIA goes budget — David Leo

The Malaysian Insider, 30 May 2011
MAY 30 — Singapore Airlines (SIA) certainly sprang a surprise when it announced it was establishing a budget long-haul carrier by next year — something its erstwhile leaders would not have dreamed of.
They had, in fact, scoffed at the prospect of going down that road. But the airline’s new management does not need to apologise for the policy reversal in light of the changing aviation landscape. Full story

Sunday, May 29, 2011

Email: Mr Inderjit Singh, why is it “awkward” for Tan Cheng Bock to run for President? - Paul Sng

Temasek Review, 28 May 2011
“News that his former comrade-in-arms Tan Cheng Bock, 71, has declared his intention to run for President caught veteran backbencher Inderjit Singh off guard. The Ang Mo Kio Group Representation Constituency Member of Parliament (MP) told Today: “For Presidential Elections, there’s always been a candidate that the Government supports … it’s quite clear that we will be fully behind this person so it will be very awkward (to have Dr Tan in the contest).”
As a citizen of Singapore I was quite shocked that you as an MP made the above comments and would like to seek the following clarification from you:
1. Are you implying that an independent Presidential election candidate is a bad thing for Singapore? By using the word “AWKWARD” were you saying Singapore can only have a PAP approved candidate to run for the Presidential election? Full email

INTERVIEW: Nicole Seah on politics and life after GE

Yahoo! Singapore News, 28 May 2011
The staff of Yahoo! Southeast Asia had a pleasant surprise on Friday evening when National Solidarity Party's Nicole Seah dropped by for a visit at its Anson Road office in Singapore.
The 24-year-old Marine Parade GRC candidate in the recent General Elections chatted with Yahoo! employees and obliged requests for photographs before we sat her down for a one-on-one chat. Full story

OPINION: Indian and Chinese Diasporas Return Home - Neeta Lal

Asia Sentinel, 27 May 2011
Returning skilled workers to China and India are a boon to their home countries, a loss to the US.
The brain drain that has fed skilled immigrants into the US economy for decades is now reversing to the long-term benefit of India and China, according to a survey of hundreds of professionals returning to their native lands to launch businesses.
The study, titled "The Grass is Indeed Greener in India and China for Returnee Entrepreneurs," quantifies what had been expected from the dual blows of overly -stringent US immigration policies in the wake of the 9/11 bombings and the 2008-2009 global financial crisis. Full story

Malaysians Encouraged To Promote Second Home Programme Among Singaporeans

Bernama.com, 29 May 2011
SINGAPORE, May 29 (Bernama) -- Malaysians residing in Singapore can assume a vital role in promoting the "Malaysia My Second Home Programme" (MM2H) among Singaporeans, says Tourism Malaysia Director in Singapore Zalizam Zakaria.
He said Singaporeans were among the top ten purchasers of properties in Malaysia under the programme followed by Japanese, British, Americans, Chinese nationals, Iranians, Pakistanis, Bangladeshis, Indian nationals, Australians and South Koreans.
The MM2H programme is promoted by Malaysia to allow foreigners, who fulfill certain criteria, to stay in Malaysia for as long as possible on a 10 year multiple-entry social visit pass which is renewable. Full story

Saturday, May 28, 2011

Professional, Technical Personnel & Skilled Worker scheme [PTS] is the easiest and most common for foreigners to get Singapore PR - Rikvin

AddPR.com, 28 May 2011
Rikvin elaborates on four Singapore permanent resident schemes. These are the Global Investor Program [GIP], The Financial Investor Program [FIP], Foreign Artistic Talent scheme [FATS], and Professional, Technical Personnel & Skilled Worker scheme [PTS].
Among these four, the PTS is the easiest and most common as anybody who holds work visas such as the Employment pass on Q and P types and the S pass are eligible to apply. “In the PTS, the work pass holder, the legal spouse, and children below 21 years of age can be given the permanent resident status,” says Rikvin, Full story

Saudi Medical Tourists Cancel Appointment in Singapore

TopNews New Zealand, 28 May 2011
The Singapore medical tourism is expected to be badly hit this year, following the death of three Saudi Arabian children at Mount Elizabeth hospital. Confirming the news, Mr. Borhan Saini, Chief Executive of Wellcare Holdings International, claimed that five expected medical tourists, to be reached next month, have canceled their appointment with Singapore’s hospitals.
As per sources, the questioned patients, Rawabi Al-Hazmi, 9, Darin Al-Areeni, 5 and the boy, Muhammad Abu Zinadah, were reported to have died on May 14, May 19 and last Friday, respectively, after the failure of bone marrow transplants. Full story

Rajini to meet specialists from Singapore's NKF

The Times Of India, 28 May 2011
CHENNAI: Tamil superstar Rajinikanth was on Friday discharged from the Sri Ramachandra Medical Centre and taken to Singapore for further treatment. The actor is expected to meet specialists at the National Kidney Foundation in Singapore.
Doctors said they could not avoid or put off dialysis as Rajinikanth's kidneys were not functioning normally. This was leading to increased fluid retention in his blood and a decrease in sodium and protein levels in the body, they said. Full story

Rajnikanth admitted to Singapore’s top hospital

The Hindu, 28 May 2011
The 61-year-old actor arrived here on Saturday with his wife and two daughters after he was discharged from a Chennai hospital where he spent two weeks being treated for respiratory problems.
He is now at the Mount Elizabeth centre, which is considered one of the best hospitals in Asia, and it’s roster of patients includes big wigs like Indian politician Amar Singh, who had a kidney transplant here in 2009. Full story

Related:
Rajinikanth admitted to Singapore's top hospital - The Economic Times

LinkedIn Launches Singapore Office, Now Hiring

Penn Olson, 28 May 2011
Marketing Interactive confirmed the news and reported that the office will be located at Marina Boulevard, near Microsoft Singapore. So far, LinkedIn Singapore is looking for folks with experience in advertising, finance or human resource:

Marketing Director – APAC
Account Director – Marketing Solutions
Financial Controller – APAC
Financial Planning & Analysis Manager – APAC
Human Resources Director – APAC

Full story

OPINION: Let’s play fair at the grassroots level - Andrew Loh

Yahoo! Singapore News, 28 May 2011
For the longest time, those who are not of the ruling People's Action Party (PAP) have questioned the fairness and impartiality of the civil service, government departments, government policies, various rules and regulations in law — and the grassroots organisations (GROs).
The ugly head of discrimination, perceived or otherwise, when it comes to the GROs, has given rise to disenchantment among certain segments of our society. It can be argued also that such sentiments have crossed over to the larger public sphere. Full story

Smartphones surging in Southeast Asia, Singapore led the pack with 46 pct penetration

GMANews.TV, 28 May 2011
Almost half of online consumers in Southeast Asian countries, including the Philippines, say they do not own a smartphone but plan to buy one in 2011, according to a recent global online survey from The Nielsen Company.
Singapore led the region, with 46 percent of those surveyed saying they owned a smartphone, while Thailand and Malaysia posted the most aggressive growth in the sector, 47 percent and 35 percent, respectively.
In Singapore, where the penetration of smartphones is highest amongst netizens in the region, the number is about 38 percent. Full story

PAP MPs told to follow ‘rules of prudence’

Yahoo! Singapore News, 28 May 2011
The Prime Minister's Office issued on Friday a letter laying down the rules on how the People's Action Party's (PAP's) Members of Parliament should behave.
In the seven-page letter released to media, Prime Minister Lee Hsien Loong pointed out that the PAP's reputation for clean, incorruptible government was one of the party's most precious assets, and that every MP of the party "must uphold the rigorous standards that we have set for ourselves, and do nothing to compromise them". Full story

HDB ordered to ramp up building of flats

Yahoo! Singapore News, 28 May 2011
New National Development Minister Khaw Boon Wan has announced measures to build more Housing Development Board (HDB) flats and at a faster pace in Singapore, addressing the backlog in demand that had been one of the concerns of the electorate.
In line with this, the HDB has confirmed that it will be able to raise the number of build-to-order (BTO) units from the earlier planned record number of 22,000 to 25,000. Full story

OPINION: Facebooking for 2016 polls - Seah Chiang Nee

Malaysia Star, 28 May 2011
A People’s Action Party (PAP) backbencher, Penang-born Irene Ng, is doing something few politicians here or anywhere else have done – putting up public banners to ask residents to “like” her Facebook.
A similar appeal was made by fellow MP Mah Boh Tan, who was replaced as Minister for National Development in the wake of sky-rocketing housing prices.
The highly unusual advertising blitz has earned them some online heckles.
Critics say such ridiculous things have no place in the digital world and want to know who is paying for it. Full story

Singapore theme park urged to free dolphins

Inquirer.net, 28 May 2011
SINGAPORE—A Singapore animal welfare group on Friday launched a campaign to urge a casino and leisure complex to free 25 dolphins destined for a new marine park attraction.
Resorts World Sentosa (RWS) bought the mammals for an “interactive dolphin spa programme” at its Marine Life Park, where visitors can interact with the animals.
“We hope that RWS will make a socially responsible decision and free the dolphins,” said Louis Ng, executive director of the Animal Concerns Research and Education Society (ACRES). Full story

The Pinoy Pride Fair 2011 - Suntec City Mall

Philippine Entertainment Portal, 28 May 2011
On June 04, 2011, The Rock Auditorium of The Suntec City Mall comes alive with The Pinoy Pride Fair 2011: A Concert, Comedy and Trade Show Celebrating Filipino Excellence in Singapore.
Organized by TAG Event Concepts, the Pinoy Pride Fair 2011 aims to bring the best of the Philippines to all our hard-working kababayans based in the Merlion City. Full story

Singapore set to overtake HK

Malaysia Star, 28 May 2011
SINGAPORE: Singapore's economy looks set to overtake Hong Kong's this year, helped by strong gains in Singapore's currency against the US dollar, to which the Hong Kong dollar is pegged, Bank of America Merrill Lynch said yesterday.
“Singapore's GDP overtook Hong Kong's in the first quarter of this year. In US dollar terms, Singapore's quarterly nominal GDP came in at US$63.9bil, exceeding Hong Kong's US$57.9bil by about 10%,” Merrill economist Chua Hak Bin wrote in a report. Reuters Link

Friday, May 27, 2011

OPINION: Social media challenges Singapore's rulers - Marwaan Macan-Marker

Aljazeera.net, 27 May 2011

Weeks after a watershed general election in Singapore, the influential role played by social media to dramatically transform political debate in this affluent city- state continues to reverberate through cyberspace.
"This election was a landmark because it marks the country’s transition out of fear," said James Gomez, executive director of Singaporeans for Democracy, a local think tank. "Young people, in particular, those who voted for the first time, have become politically socialised through the social media and are very much part of this transition." Full story

Speak Asia's Singapore bank accounts frozen

IBNLive, 27 May 2011
Mumbai: Market research company Speak Asia has stopped payouts to its vendors, clients and staff. In a letter to its members, Speak Asia says payments cannot be processed since its bank accounts in Singapore have been frozen.
Speak Asia has said it will approach the Supreme Court against the action.
Government sources, however have said that Speak Asia is not registered in India and there is no question of taking any action against the company. Speak Asia is registered in Cayman Islands, sources said. Full story

Singapore teams sorry for mass brawl

AFP
SINGAPORE — Two Singapore football clubs apologised Friday and promised stiff punishments over a mass brawl that halted a game and brought new shame to the troubled S-League.
Defending champions Etoile FC and Hougang United said they were reviewing video footage of Monday's incident, when up to 50 players and officials were involved in a melee before kick-off.
"Whoever is found to be involved in such incidents, there will be very, very strong repercussions and very strong sanctions," Etoile chairman Johan Gouttefangeas told a joint press conference. Full story

ST Telemedia's Eircom to speed up talks as covenant breach looms

Reuters Canada, 27 May 2011
DUBLIN (Reuters) - Struggling Irish telecoms group Eircom said on Friday it must accelerate talks on restructuring its debt with shareholders and lenders ahead of a likely breach in its financial covenants within the next three months.
Eircom, majority-owned by Temasek unit Singapore Technologies Telemedia (STT), in March warned of a significant risk of a covenant breach within three to six months and said it would talk to shareholders about possibly injecting new equity.
Eircom's net debt was 3.75 billion euros in December, or 5.6 times earnings before interest, tax, depreciation and amortization (EBITDA). Full story

HDB launches 2 MW solar leasing scheme

pv magazine, 27 May 2011
Representing Singapore’s first solar leasing scheme, the country’s Housing and Development Board (HDB) has said it is undertaking a two megawatt photovoltaic project, which aims to test solar energy in 30 housing precincts.
This strategy is in opposition to its last solar project, where HDB bought the solar panels, and hired contractors to install and maintain them. HDB did not explain why it is trying out this model, but industry players offered a few reasons. "This is more experimental. The HDB is testing the mechanism," said Christophe Inglin, managing director of Germany-based Phoenix Solar. Full story

Singapore cements jurisdictional relationship with Nevada

Gaming Intelligence, 27 May 2011
Singapore’s Casino Regulatory Authority (CRA) has signed a memorandum of understanding with the Nevada Gaming Control Board (NGCB), paving the way for enhanced collaboration in the field of gaming regulation between the two international licensing regimes.
The memorandum of understanding (MOU) was executed yesterday by CRA chief executive T. Raja Kumar and chairman of the NGCB, Mark Lipparelli, at the NGCB’s office in Las Vegas, Nevada. Full story

Singapore Producer Price Inflation Eases In April

RTTNews, 27 May 2011
(RTTNews) - Producer price inflation in Singapore's manufacturing industry eased marginally in April, Statistics Singapore said Friday.
Producer prices advanced 5.3 percent annually in April, slower than 5.6 percent increase in the previous month. The oil index increased 27 percent from last year, while the non-oil index dropped 2.4 percent. Full story

Singapore's National Development Minister launches blog

FutureGov, 27 May 2011
Newly appointed as Singapore National Development Minister, Khaw Boon Wan launched his blog on Thursday, 26 May 2011. Called ‘Housing Matters’, Khaw’s first post said that he will “share regularly my thoughts, reflections, trade-offs, and possible ideas”.
In a bid to engage Singaporeans who on 7 May 2011 gave the ruling People’s Action Party its lowest winning margin since independence, Khaw’s blog entry pledges a listening ear: “It is meant to be interactive as I will particularly value your comments, reactions and views, via emails or my Facebook or Kampung Sembawang Facebook, or the MND Facebook.” Full story