Presidential Election parody musical canned, organiser refuses to comment

inSing.com, 30 Sep 2011
A new and upcoming musical "When Tan Meets Tan" has been shelved.
The musical was slated to open in late October at The Arts House and had already commenced ticket sales.
Seen as a humourous take on the recently concluded Presidential Election, the publicity poster of the musical featured four "Tans" on what looked like an election poster. Full story

UBS Study: Singapore - High cost of living, low wages, low domestic purchasing power

UBS.com

Full story

Singapore Airport Terminals to auction off Daniels Group

Sky News, 30 Sep 2011
The owner of the New Covent Garden Food Company has been put up for sale by its Singaporean parent for about £150m, I have learned.
Daniels Group, which owns some of Britain's best-known food brands, is being auctioned by Singapore Airport Terminals. Investment bankers at HSBC have been appointed to run the process, which is understood to have attracted a wide range of international interest. Full story

Related:
Singapore's SATS in talks to sell UK operations - Reuters

Temasek jointly launched MBA program with CNMESC in western China

China.org.cn, 30 Sep 2011

An MBA education program jointly launched by Singapore's Temasek Foundation and the China National MBA Education Supervisory Committee (CNMESC) in Beijing on Thursday aims to raise the standard of business schools at universities in western China.
Temasek Foundation has decided to provide 9.6 million yuan (US$1.5 million) in funding to support the program. Wu Yuqin, chairman of Temasek Foundation, said that in terms of MBA programs, universities in eastern China have a much higher public profile, whereas universities in western China are only now gaining more recognition. Full story

Singapore Shell refinery will take at least a mth to restart-sources

Reuters, 30 Sep 2011
Oil major Shell's fire-stricken Singapore refinery, its largest in the world with a 500,000 barrels-per-day (bpd) capacity, is expected to remain shut for at least a month, as efforts now turn to investigating the cause of the 36-hour blaze, industry sources said on Friday. Full story

Related:
Shell force majeures Singapore distillates sales-trade - Reuters

Eircom’s Senior Lenders May Gain 25% Stake in Debt-Equity Swap

BusinessWeek, 30 Sep 2011
Sept. 30 (Bloomberg) -- Eircom Group Ltd. may cede a quarter of its shares to first-lien lenders in a debt restructuring of Ireland’s biggest phone company, according to three people familiar with the talks.
Eircom, saddled with 3.75 billion euros of debt following five ownership changes in the last 12 years, said Sept. 15 its senior lenders agreed to waive debt terms for three months as it seeks to restructure its balance sheet. The company, owned by Singapore Technologies Telemedia Pte. and an employee trust, is pursuing in excess of 1.3 billion euros of debt writedowns across its lenders, the people said. Full story

Cold Storage supermarket to stop sale of shark fin and shark products

WWF, 30 Sep 2011
Singapore – Prominent Singapore-based supermarket chain Cold Storage has joined the WWF Singapore Sustainable Seafood Group and marked its commitment with an announcement that it will stop selling all shark fin and shark products in its 42 outlets across the country.
Cold Storage is the first supermarket in Singapore to implement a “no shark fins policy”. It is also the nation’s first retail food chain to source and offer a wide range of sustainable seafood recommended by WWF and offer Marine Stewardship Council (MSC)-certified seafood such as the hake fillet from South Africa. Full story

OPINION: Overturning Lee Kuan Yew's Legacy in Singapore - Amitav Acharya

Foreignaffairs.com, 28 Sep 2011
Lee Kuan Yew, Singapore's storied first prime minister, gave his countrymen two things that elude most developing nations: stability and prosperity. Now, a new generation of Singaporeans with little recollection of Lee's crusade against poverty and violence wants democracy as well. In pursuing greater political openness in two elections this year, they are challenging one of Lee's most deeply ingrained beliefs: that development and stability do not necessarily go hand in hand with democracy. Full story

Shell Halts Singapore Refinery After 2-Day Fire

Bloomebrg
Royal Dutch Shell Plc (RDSA) has extinguished a fire that raged for two days at its biggest oil refinery and is shutting processing units at the Singapore plant as a precaution.
“The fire has been extinguished at Shell refinery at Pulau Bukom,” Shell said in a late-night statement yesterday. “However, there are traces of fuel vapour. We are prepared to shut down all refinery units if this is considered necessary from a safety perspective, with the exception of utilities.” The company was shutting units within the vicinity of the fire. Full story

Related:
Shell says fire extinguished at Singapore refinery - Reuters

New malware threat to Internet banking users

Yahoo! Singapore News, 30 Sep 2011

Internet banking customers should be on guard against a new computer malware, said the Association of Banks in Singapore (ABS) on Thursday.
In a statement, it warned customers to look out for "SpyEye", a Trojan Horse malware that targets local Internet banking applications after a few cases were reported recently.
When a user tries to access the bank’s Internet banking application from an infected computer, the malware tries to create a false third party beneficiary addition and funds transfer. Full story

Singapore government rejects call to investigate ISA detentions

Yahoo! Singapore News, 29 Sep 2011
The government has rejected a call by 16 ex-detainees for a commission of inquiry to investigate their detentions and that of other detainees under the Internal Security Act (ISA).
In a statement on Thursday evening, the Ministry of Home Affairs said the detentions were made under "valid security reasons and properly dealt with according to the law”.
“Every case was reviewed at that time by the Advisory Board chaired by a Supreme Court judge. The government sees no reason to conduct a review now, more than 20 years after the event, via a commission of inquiry,” said MHA. Full story

Singapore healthcare executives tour U.S. to learn about home health care

phillyBurbs.com, 29 Sep 2011
They represented the island nation's Agency for Integrated Care, Home Nursing Foundation, St. Andrew's Community Hospital and TOUCH Home Care, as well as Singapore's Ministry of Health.
The mission of the 13-member delegation was to learn more about U.S. home health care and how they can apply it on the island nation with a Philadelphia-size population.
Dr. Jason Cheah, CEO of Singapore's Agency for Integrated Care, said health care in the densely populated country is dominated by hospitals. He views home health services as the missing piece of an industry looking to better handle ongoing care. Full story

Temasek's India head Manish Kejriwal quits to start new fund

VCCircle.com, 30 Sep 2011
Three Indian private equity executives belonging to two of the top global investment firms are on their way out from their present organisations to raise a fund of their own. Manish Kejriwal, who is heading India, Africa & Middle East operations at Temasek Holdings, the Singapore-government owned sovereign wealth fund, is quitting the firm, at least three sources familiar with the matter told VCCircle.
In an email response to VCCircle, Stephen Forshaw, Managing Director Corporate Affairs, Temasek, confirmed the development: "Manish Kejriwal has decided to step down as Head of Temasek India, in order to explore a new fund platform in India. He will continue to support Temasek in an advisory capacity." Full story

Related:
Temasek's India head Kejriwal steps down to start new fund - Reuters
Kejriwal quits Temasek to float a new fund - The Times Of India

Facebook tracking prompts calls for FTC investigation

The Washington Post
Facebook’s use of software that enables it to track users’ online activity after they log off of the social-networking site came under scrutiny in Washington this week, with lawmakers and consumer advocacy groups demanding a federal investigation.
In a letter to the Federal Trade Commission Reps. Edward J. Markey (D-Mass.) and Joe Barton (R-Tex.) wrote that Facebook’s use of “cookie” software should be investigated under the “unfair and deceptive acts” clause of the agency’s mandate. Full story

Related:
Facebook can track you even after logout - GMA News Online
Facebook tracks you online even after you log out - ZDNet
Facebook Logout Tracking: Privacy Concerns Arise Over Alleged Cookie Snooping - The Huffington Post
'We didn't mean to track you' says Facebook as social network giant admits to 'bugs' in new privacy row - Dailymail.co.uk
Facebook under pressure over privacy: source - Portfolio.com

Singapore dollar to become the Swiss franc of the 21st century: Russell Napier

FinanceAsia, 30 Sep 2011
“Get your money into gold and Singapore dollars; keep your powder dry and wait in the next six to 12 months to buy Asian equities,” Napier advised, noting that he expects the Singapore dollar to become the Swiss franc of the 21st century. Napier’s bullishness on the Singapore currency is driven by the fact that the country has a capital account surplus and the government is also unlikely to impose capital controls on inflows and outflows -- something he predicts will happen in Europe very soon. Full story

Temasek Among Investors in Citic Securities Hong Kong $900m Stock Offer

Bloomberg, 29 Sep 2011
Temasek Holdings Pte and Kuwait Investment Authority are among early investors who agreed to buy $900 million of stock in Citic Securities Co.’s initial share sale in Hong Kong, two people with knowledge of the matter said.
The Singaporean state-owned investment firm will invest $150 million in the offering, while the Kuwaiti sovereign wealth fund is putting in $200 million, said the people, who declined to be identified as the process is confidential. Full story

Jetstar worker quit over exploitation, safety concerns

ABC News, 29 Sep 2011
Jetstar Airlines is facing further allegations it is exploiting staff and compromising the safety of passengers.
A former flight attendant has told ABC's Lateline he quit his job at Jetstar because of safety concerns over long shifts for cabin crew and staff not being able to answer safety questions.
The budget airline maintains it has rigorous safety standards.
But a clause in the the contract for Singapore-based Jetstar crew states they could be forced to work shifts longer than 20 hours. Full story

Related:
More claims Jetstar is exploiting staff - The Sydney Morning Herald
Jetstar staff exploited with 20hr shifts - Sky News

Shell to Shut Whole Singapore Refinery

San Francisco Chronicle, 29 Sep 2011
Sept. 29 (Bloomberg) -- Royal Dutch Shell Plc will shut its biggest refinery over the next two days on an island off Singapore as firefighters battle a blaze for a second day, the worst fire at the site in 23 years.
"We are progressively shutting down the refinery over the next two days," as a precautionary measure, not because of damage, Martijn van Koten, Shell's vice-president for eastern manufacturing operations, said at an evening press briefing. Full story

Related;
Shell Shutting Down Singapore Refinery; Process May Take 2 Days - FoxBusiness.com
Explosions rock Shell's Singapore refinery - USA Today
Report: Explosions rock Shell’s Singapore refinery - Asian Correspondent
Shell to shut down refinery as fire rages for second day -Monsters and Critics

Local drama mocking Singaporeans?

inSing.com, 29 Sep 2011
Netizens are in an uproar over a new local Chinese drama that allegedly mocks Singaporeans.
In the locally produced Channel 8, 9pm drama titled "Love Thy Neighbour", one of the characters portrayed by actress Ng Hui scolded her husband, portrayed by actor Cavin Soh, for not earning enough money to support his family in Singapore.
Her character goes on to lament the high cost of living in Singapore, saying that despite her husband's salary of $4,000 a month, it will not be sufficient to pay for their house rental and child's education. Full story

The Daily Show: Singapore has the best formulae for attracting investment

The Daily Show, 22 Sep 2011

The Daily Show With Jon Stewart	Mon - Thurs 11p / 10c
Exclusive - Jennifer Granholm Extended Interview Pt. 2
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Electricity tariffs to drop from Oct to Dec

inSing.com, 29 Sep 2011
SINGAPORE: Electricity tariffs will decrease by an average of 1.2 per cent from October to the end of the year.
It is the first drop in 12 months.
SP Services said this is because of lower fuel oil prices over the last three months, from July 1 to September 15.
Tariffs for households will drop 1.1 per cent - or 0.3 cents per kilowatt-hour.
For families in four-room HDB flats, for example, this works out to about S$1.20 less a month.
SP Services reviews the electricity tariffs quarterly, based on guidelines from the Energy Market Authority. Link

Shell shuts most of Singapore refinery as fire rages for 2nd day

Reuters India, 29 Sep 2011
(Reuters) - Royal Dutch Shell Plc has shut most of its half-a-million barrels-per-day Singapore refinery, sources said, as firefighters struggle to contain a blaze that has been burning for more than a day.
The plant is the largest Shell owns and makes up more than a third of Singapore's refining capacity. The city-state is Asia's crude and refined product trading hub and hosts the world's largest fuel oil market. Full story

Related:
Explosions rock Shell's Singapore refinery - CBS News
Shell shuts most of Singapore refinery as fire rages - IBNLive
Explosions rock Shell refinery in Singapore as blaze continues for second day - The Washington Post
Fire Rages At Shell's Singapore Refinery For Second Day - RTTNews
Shell's Singapore refinery on fire for second day - Monsters and Critics

S$138k overcharged bus fares unclaimed

Yahoo! Singapore News, 29 Sep 2011
Reports showed that those affected by the overcharging last year have only claimed less than half of their refunds.
That amounts up to S$138,281, out of a total of S$316,006 owed to passengers, .... The overcharging was revealed after the Public Transport Council implemented a new distance-based fare system last July. Full story

No change in Entrepreneur Pass for foreigners

StockMarketsReview.com, 29 Sep 2011
When the Government of Singapore announced important amendments to the employment pass scheme a few weeks back, some had expected changes in the hugely popular entrepreneur pass scheme as well. Better known as the Entrepass in Singapore, it is the main type of visa required by foreign entrepreneurs who want to relocate to Singapore after setting up a company in the country. However, as of now no amendments have been announced and it is not expected to be changed anytime soon. Full story

Indonesia to increase gas exports to Singapore

Tempointeractif.com, 29 Sep 2011
The Agency for Upstream Gas & Oil Business Activities (BP Migas) says more Indonesian gas will be exported to Singapore.
Production from Premier Oil's Gajah Baru Field, Natuna Sea, and PHE-Talisman's Jambi Merah Field, Natuna Sea, will be sent to Singapore to replace the supply previously sent from a corridor block owned by PT ConocoPhillips.
The gas from ConocoPhillips is expected to supply the Muara Tawar steam-generated power plant in Bekasi, with prices ranging from US$ 5-7 per BBTUD. Link

Singapore forum tackles world hunger

Manila Bulletin, 29 Sep 2011
MANILA, Philippines — More than 200 food security experts from various parts of the world gathered in Singapore for a forum on how to combat world hunger.
Government representatives, large-scale agriculture producers, farmer groups, development partners, and researchers shared insights during the International Conference on Asian Food Security (ICAFS), which anchored on “Feeding Asia in the 21st Century,” held at the Grand Copthorne Waterfront Hotel in Singapore. Full story

Singapore Works Closely With Regional Countries To Safeguard Against Piracy

Bernama.com, 29 Sep 2011
SINGAPORE, Sept 29 (Bernama) -- To safeguard the Straits of Malacca and Singapore against piracy and armed robbery, piracies were tackled through close cooperation with regional countries and industries, said Minister of State for the finance and transport ministries Josephine Teo.
She said the republic worked with institutions like the ReCAAP Information Sharing Centre which combated piracy and armed robbery against ships in Asia. Full story

"Sony Tablet" S arriving in Singapore in October 2011

VR-Zone.com, 29 Sep 2011
oday, Sony has launched their highly-anticipated "Sony Tablet" S that claims to offer powerful features and deliver engaging entertainment experience to consumers. The "Sony Tablet" S features 9.4-inch LED-backlit IPS touchscreen, Nvidia Tegra 2 mobile processor and Google Android 3.2 Honeycomb. On usage, the tablet is fast when we navigate across the various screens and run the applications. The display also looks good when we played some movie trailers. Full story

Video: Goh Chok Tong and his team were responsible for the arrest of the 'Marxist Conspirators' - Lee Kuan Yew (1990)

Youtube.com


Link

Jemaah Islamiyah, Abu Sayyaf now merged, says anti-terror expert

Inquirer.net, 28 Sep 2011
The Jemaah Islamiyah (JI) regional terror network and the local Abu Sayyaf Group (ASG) in the Sulu Archipelago are already so integrated they operate almost as one organization, according to an international counterterrorism expert.
The link between the JI and the ASG is “almost complete,” said Professor Rohan Gunarathna, head of the management staff of the International Center for Political Violence and Terrorism Research in Singapore.
“They co-exist, they work together, their leaders operate together as one organization. The integration of these two structures is almost complete,” said Gunarathna, one of the resource speakers at the two-day intelligence exchange among military analysts in the Association of Southeast Asian Nations (Asean) which concluded Wednesday. Full story

Related:
Terror threat persists, analyst warns - Manila Standard Today

Job Hopping, High Salaries Plague Singapore’s Private Banks

CNBC.com, 28 Sep 2011
Singapore’s role as the wealth management center of Asia has been strengthened by the growing number of millionaires in the region, but it’s also being challenged by a shrinking pool of workers needed by the sector.
Despite the recent slowdown and market volatility, private banks in Singapore have not stopped hiring. Says a 38-year-old private banker who has been working in Singapore for the past six years, “While we are worried about the falling value of our clients’ assets, there is no dearth of jobs for us. I still get calls from 2-3 headhunters every day.” Full story

Singapore's CapitaMalls Asia in $1 bln JV to develop Suzhou mall

Reuters, 28 Sep 2011
(Reuters) - Singapore's CapitaMalls Asia , a unit of Southeast Asia's largest property developer CapitaLand , said on Thursday it will co-develop the biggest shopping mall in Suzhou, China, at a total cost of 6.74 billion yuan ($1 billion).
The Singapore firm is in a 50-50 joint venture with the Suzhou Industrial Park Jinji Lake Urban Development Co, it said in a statement. Full story

Shell shuts some Singapore refinery units after fire

Reuters UK, 28 Sep 2011
(Reuters) - A fire that forced Royal Dutch Shell (RDSa.L) to shut down some units and evacuate non-essential staff at its massive Singapore refinery on Wednesday has been contained after burning for nearly half a day.
The fire hit the 500,000 barrel per day (bpd) plant, Shell's biggest worldwide, at 1:15 p.m local time (0515 GMT), forcing it to close down a hydrocracking unit that helps make diesel fuel as a safety measure, the company said earlier. Full story

Related:
Fire still burning at Shell Singapore refinery - Reuters
Shell says fire contained at Singapore refinery - Monsters and Critics

SMRT's excuse for Circle Line breakdown: a faulty cable and tunnel leakage

Yahoo! Singapore News, 28 Sep 2011
A faulty cable and tunnel leakage caused the Circle Line’s four-hour delay on the morning of 20 September, said SMRT on Wednesday.
And with the full Circle Line MRT service to launch in 10 days, SMRT is now inspecting all of its stations for faulty power cables. Checks on Lines Four and Five — which are the new lines to be opened next Saturday — are complete, and staff have to inspect 16 more stations along the older lines. Full story

OPINION: It’s also about Singapore’s local talent — Nicholas Fang

The Malaysian Insider, 28 Sep 2011
SEPT 28 — “Attracting people to come to Singapore is not an issue — the real issue is that you can’t attract everybody,” said Akbar Shah, the head of Citigroup’s Mega Wealth Business in the Asia-Pacific.
There are several oft-touted reasons why the Republic is one of the world’s top wealth management centres - its efficient infrastructure, attractive living environment and transparent system. Besides these, Mr Shah says, the availability of a talent pool — not just an imported but also a local one — plays a vital role in the industry’s growth. Full story

Night storm wreaks havoc at Deepavali bazaar at Little India

Yahoo! Singapore News, 28 Sep 2011
People were screaming and glass was shattering. Strong winds and heavy rain wreaked havoc on the Deepavali Bazaar at Little India on Tuesday night, bringing an abrupt end to the first day of the annual event.
Many stall holders at the bazaar were forced to abandon their goods and flee the tentage, which collapsed after strong winds started blowing at 11:45pm. Full story

Fire at Shell Singapore refinery intensifies, several explosions heard

Reuters India, 28 Sep 2011
(Reuters) - A fire has intensified at Royal Dutch Shell's Singapore refinery, the company's largest, a senior company executive said on Wednesday.
Eyewitnesses said explosions were heard and the fire worsened at the plant on Bukom Island. A dark cloud of smoke could be seen over mainland Singapore and the Jurong Island oil hub. Full story

Related:
Fire at Shell Singapore refinery intensifies - Irish Times
Shell Singapore refinery fire involves pipes in storage tanks - Reuters UK
Shell Singapore sells at least 40,000T naphtha swaps - Reuters UK

Luxury property values rise 10 per cent in 1H

Asia Property Report, 28 Sep 2011
Savills’ recent global billionaire property index makes for interesting reading. According to Savills index; multi million pound homes for sale in the top 10 most expensive cities in the world have risen 10 per cent in value this year. Compare this to an increase of 6 per cent for ordinary homes in the same cities. Houses owned by billionaires rose in value by one tenth in the first half of 2011.
The 10 ‘world class’ cities are: Hong Kong, London, Moscow, Mumbai, New York, Paris, Singapore, Shanghai, Sydney and Tokyo. Full story

Singapore extradition treaty renegotiation with Indonesia unlikely : Masagos

The Jakarta Post, 28 Sep 2011
The Singaporean government on Wednesday said it regarded its current extradition treaty with Indonesia, signed in 2007, as final, despite difficulties the latter had experienced in securing approval from the House of Representatives to ratify it.
Speaking to a group of visiting Indonesian journalists, Singapore’s State Minister for Foreign Affairs Masagos Zulkifli said he fully respected the political response to the treaty in Indonesia, but quickly stressed that Singapore would never make it a subject of renegotiation since this would set a bad precedent for the country in front of the international community. Full story

Singapore rewrites funding rules on film financing

Filmbiz.asia, 28 Sep 2011
Singapore is to tear down its government film financing infrastructure and replace it with five simplified schemes that cross all aspects of media and entertainment.
The announcement was made this afternoon (Wednesday, 28 Sep) by the Media Development Authority of Singapore in a briefing to the local industry.
The current system involves no less than 46 different MDA-backed support schemes relating to seven different industry sectors (film, broadcasting, music, games, animation, new media and publishing) which the local industry has found difficult to navigate. The film sector alone was eligible to use 14 different funding schemes. Full story

Related:
Singapore Restructures Financing Mechanisms - WorldScreen.com

DBS to set up headquarters, with state-of-the-art flagship branch, at marina bay financial centre in 2012

4-traders.com, 28 Sep 2011
SINGAPORE, 28 September 2011 – DBS Bank announced today that it will move its new headquarters and flagship branch to Marina Bay Financial Centre (MBFC) Tower 3 in the second half of 2012. As Singapore’s biggest bank and a leading bank in Asia, DBS will anchor the MBFC, cementing the Marina Bay area as Singapore's new financial centre. Full story

Fire at Shell Singapore Refinery

Insurance Journal, 28 Sep 2011
A fire at Royal Dutch Shell’s petroleum complex offshore Singapore is still burning, but has been contained, although it was not clear what impact the blaze was having on operations.
“We confirm that a fire in the Pulau Bukom Manufacturing Site occurred today at approximately 1.15 p.m. Emergency responders are on the scene and the fire is contained. No injuries have been reported and the rest of the site’s operations are unaffected,” a Shell spokesman said. Full story

Related:
Fire at Shell Singapore refinery contained - Reuters

OPINION: Singapore questions Formula One's benefits - Todd McCandless

The Huffington Post, 28 Sep 2011
As Formula One's only night race, Singapore completed its 4th successful race in a 5-year contract. The night race has added an element of novelty to the racing series but has it been a success?
Some fans complain of the race length and circuits lack of character providing a dull race. Others enjoy the nighttime element and find the circuit unique and challenging. It's a tall order to compare Singapore to the crown jewel of F1 in Monaco. Full story

China Warns Asia Not to Hide Behind U.S. Military

Bloomberg, 28 Sep 2011
Asian countries should be on guard against the “danger” of feeling they can “do whatever they want” because of the U.S. military presence in the region, the Chinese Communist Party’s People’s Daily said in a commentary.
The opinion piece said it was understandable that some Asian countries may be uncomfortable with China’s rise and emphasized that the government in Beijing was working for “peaceful solutions” to conflicts such as territorial disputes in the South China Sea. The commentary comes as countries such as the Philippines and Vietnam are increasingly voicing concerns over China’s claims to the waters. Full story

Singapore's total population increases by 2.1 percent as at end Jun 2011

inSing.com, 28 Sep 2011
SINGAPORE: Singapore's total population stood at 5.18 million as at end June this year.
According to latest statistics from the Population Trends 2011 report, there were 3.79 million Singapore residents.
Of which, 3.26 million are Singapore citizens and 530,000 are permanent residents.
There were 1.39 million non-resident foreigners as at end June.
The report said the total population expanded by 2.1 per cent, or 107,000, in 2011, due to increased number of citizens and non-residents. Full story

Overwhelming demand for 'leftover' HDB flats

Yahoo! Singapore News, 28 Sep 2011
An overwhelming 14,000 potential home-buyers have applied for just under 3,000 "leftover" Housing Board (HDB) flats in many popular mature estates.
Termed "balance flats", these 2,847 units comprise of those unselected from previous build-to-order (BTO) launches, surplus replacement flats under the Selective En Bloc Redevelopment Scheme, and those bought back by HDB.
The popularity of these flats has overshadowed a parallel BTO exercise for new flats launched the same day. Full story

Singapore vows action against misleading IPOs

MarketWatch, 27 Sep 2011
SINGAPORE -(MarketWatch)- The Monetary Authority of Singapore will act strongly against companies that offer misleading information to investors when making their initial public offerings, the central bank's managing director Ravi Menon said Wednesday.
"We will not hesitate to impose stiff penalties on issuers who have made misleading statements in initial public offerings," he said at a conference. "MAS will leave no stone unturned to take rigorous action against those who break our laws." Full story

Related:
S'pore says no action taken against GLP for not disclosing ProLogis accord - Reuters
Singapore MAS: Won't Take Regulatory Action Against Global Logistic Properties - Nasdaq

Singapore's Tranformation Into First World Economy Due To Emphasis On Leadership And Talent, Says Goh Chok Tong

Bernama.com, 28 Sep 2011
SINGAPORE, Sept 28 (Bernama) -- Singapore grew from a third world to a first world economy because of its emphasis on leadership and talent, says Emeritus Senior Minister, Goh Chok Tong.
"From experience, we believe that for companies to succeed in the region, they need to develop leaders and talent with the right knowledge to operate in Asia." Full story

More money needed for Singapore's healthcare: MPs

Yahoo! Singapore News, 28 Sep 2011
To meet the demands for quality services for an ageing population, more money will need to be invested into the healthcare industry, said some Members of Parliament (MPs) and experts on Tuesday.
They also said that the Government needs to invest in training and relook subsidies.
Their comments come after Health Minister Gan Kim Yong told Lianhe Zaobao in an interview published on Tuesday that health-care spending is likely to exceed the current 4 per cent of gross domestic product (GDP). Full story

Singapore Developers Go All Out to Woo Chinese Home Buyers

The Jakarta Globe, 28 Sep 2011
Another way to pamper Chinese investors is through property-viewing tours. Major developers like Far East and CapitaLand organize such three-day trips once or twice a month.
Tour groups, which depart from major metropolises like Beijing and Shanghai but often include rich families from smaller cities, typically have 10 to 15 people.
'We intentionally keep the group small to ensure more personalized service,' said a CapitaLand spokesman, adding that these tours will cover four or five properties that best fit the prospective buyers' needs. Full story