Wednesday, December 21, 2011
Tuesday, December 20, 2011
Monday, December 19, 2011
Sunday, December 18, 2011
UWCSEA opens new East Campus
UWCSEA opens new East Campus
Posted: 08 December 2011 2054 hrs
SINGAPORE : The United World College South East Asia (UWCSEA) has opened the doors to its new East Campus.
Its first campus in Dover opened in 1971.
Located in Tampines, the new campus also hosts the newly-established Centre for International Education (CIE).
It will host educational conferences and workshops, which aim to make Singapore a regional hub for international educators and thinkers.
The number of scholarships awarded to international students will also increase from nearly 70 to 100.
The campus has also been presented the Singapore Building and Construction Authority's highest award - the Green Mark Platinum award - in recognition of its sustainable approach to construction.
The school has installed the world's largest solar air conditioning and hot water system, worth some 5 million euros.
Charles Ormiston, Chair of the Board of Governors of UWCSEA, said: "With the opening of the East Campus, the third strand of our organisation, we now have the scale, resources and diversity to multiply our impact on students, on the local community, on the world of education and on the thousands of people every year who we support through our global concerns projects."
- CNA/ms
- wong chee tat :)
Posted: 08 December 2011 2054 hrs
SINGAPORE : The United World College South East Asia (UWCSEA) has opened the doors to its new East Campus.
Its first campus in Dover opened in 1971.
Located in Tampines, the new campus also hosts the newly-established Centre for International Education (CIE).
It will host educational conferences and workshops, which aim to make Singapore a regional hub for international educators and thinkers.
The number of scholarships awarded to international students will also increase from nearly 70 to 100.
The campus has also been presented the Singapore Building and Construction Authority's highest award - the Green Mark Platinum award - in recognition of its sustainable approach to construction.
The school has installed the world's largest solar air conditioning and hot water system, worth some 5 million euros.
Charles Ormiston, Chair of the Board of Governors of UWCSEA, said: "With the opening of the East Campus, the third strand of our organisation, we now have the scale, resources and diversity to multiply our impact on students, on the local community, on the world of education and on the thousands of people every year who we support through our global concerns projects."
- CNA/ms
- wong chee tat :)
Saturday, December 17, 2011
Friday, December 16, 2011
Thursday, December 15, 2011
Wednesday, December 14, 2011
Employers rank preferred business schools in Asia-Pacific
Employers rank preferred business schools in Asia-Pacific
Posted: 09 December 2011 1225 hrs
SINGAPORE: For the third year running, the INSEAD Asia Campus in Singapore has been ranked the business school which Asia-Pacific employers most prefer to recruit from.
The Indian Institute of Management, Ahmedabad was ranked second while the Melbourne Business School at the University of Melbourne took third spot.
The NUS Business School ranked fourth.
The QS Global 200 Business Schools Report 2012, ranks 200 full-time MBA business schools by region and specialisation.
Votes from more than 12,000 employers worldwide that recruit internationally are taken into account.
Employers from Asia-Pacific accounted for nearly a quarter of the responses coming from sectors such as consulting and professional services, banking and financial services, as well as HR and recruitment.
Singapore employers named in the QS Report included the Ministry of Trade and Industry, Citigroup, Standard Chartered Bank, Accenture, Unilever and Shell.
- CNA/cc
- wong chee tat :)
Posted: 09 December 2011 1225 hrs
SINGAPORE: For the third year running, the INSEAD Asia Campus in Singapore has been ranked the business school which Asia-Pacific employers most prefer to recruit from.
The Indian Institute of Management, Ahmedabad was ranked second while the Melbourne Business School at the University of Melbourne took third spot.
The NUS Business School ranked fourth.
The QS Global 200 Business Schools Report 2012, ranks 200 full-time MBA business schools by region and specialisation.
Votes from more than 12,000 employers worldwide that recruit internationally are taken into account.
Employers from Asia-Pacific accounted for nearly a quarter of the responses coming from sectors such as consulting and professional services, banking and financial services, as well as HR and recruitment.
Singapore employers named in the QS Report included the Ministry of Trade and Industry, Citigroup, Standard Chartered Bank, Accenture, Unilever and Shell.
- CNA/cc
- wong chee tat :)
Hybrid HDD for tablets & mobile devices coming soon
Hybrid HDD for tablets & mobile devices coming soon
Posted: 14 December 2011 1016 hrs
SINGAPORE: Singapore's Data Storage Institute (DSI) has sealed a crucial partnership with a leading maker of hard disk drive components, Seiko Instruments Inc. (SII).
They'll work on a hybrid hard disk drive (HDD) that's expected to enhance the next generation of media tablets and mobile computing devices that can handle increased capacity and are more reliable.
The two sides signed a research collaboration to develop pivot assembly for 2.5 inch, 5mm thickness, hybrid hard disk drive (HDD).
The deal signals a major step towards manufacturability of the DSI's 5mm thin drive target.
SII, known for its strong expertise in high performance miniature ball bearing and pivot cartridge design, and DSI will put in significant amount of resources to bring the design of the pivot cartridge towards manufacturing.
The pivot assembly is an important component within the HDD which supports the movement of the actuator arm that carries the integrated system of read/write sensors over the media.
DSI's 5mm hybrid HDD architecture is targeted at addressing the current limitations of both flash-based SSDs as well as the conventional HDD, in areas such as portability, data storage reliability, storage capacity, power consumption and cost.
"Our partnership with SII is a step towards materialising the 5mm hybrid hard disk drive. More importantly, it is a recognition from the industry on the viability and potential of 5mm hybrid hard disk drive," said Dr Pantelis Alexopoulos, Executive Director of DSI.
"The development of pivot assembly for 5mm thickness HDD is very challenging. However, with DSI's expertise and strengths in hard disk drive. I strongly believe that our collaboration with DSI will be a resounding success and therefore make a positive contribution in the growth of HDD industry," said Mr Masao Kasuga, Senior Vice President of SII.
The Data Storage Institute (DSI) is a member of the Agency for Science, Technology and Research (A*STAR), which is the lead agency for fostering world-class scientific research and talent for a vibrant knowledge-based and innovation-driven Singapore.
DSI's vision is to be a vital node in nurturing research talents and capabilities for world-class R&D in next-generation storage technologies.
- CNA/ck
- wong chee tat :)
Posted: 14 December 2011 1016 hrs
SINGAPORE: Singapore's Data Storage Institute (DSI) has sealed a crucial partnership with a leading maker of hard disk drive components, Seiko Instruments Inc. (SII).
They'll work on a hybrid hard disk drive (HDD) that's expected to enhance the next generation of media tablets and mobile computing devices that can handle increased capacity and are more reliable.
The two sides signed a research collaboration to develop pivot assembly for 2.5 inch, 5mm thickness, hybrid hard disk drive (HDD).
The deal signals a major step towards manufacturability of the DSI's 5mm thin drive target.
SII, known for its strong expertise in high performance miniature ball bearing and pivot cartridge design, and DSI will put in significant amount of resources to bring the design of the pivot cartridge towards manufacturing.
The pivot assembly is an important component within the HDD which supports the movement of the actuator arm that carries the integrated system of read/write sensors over the media.
DSI's 5mm hybrid HDD architecture is targeted at addressing the current limitations of both flash-based SSDs as well as the conventional HDD, in areas such as portability, data storage reliability, storage capacity, power consumption and cost.
"Our partnership with SII is a step towards materialising the 5mm hybrid hard disk drive. More importantly, it is a recognition from the industry on the viability and potential of 5mm hybrid hard disk drive," said Dr Pantelis Alexopoulos, Executive Director of DSI.
"The development of pivot assembly for 5mm thickness HDD is very challenging. However, with DSI's expertise and strengths in hard disk drive. I strongly believe that our collaboration with DSI will be a resounding success and therefore make a positive contribution in the growth of HDD industry," said Mr Masao Kasuga, Senior Vice President of SII.
The Data Storage Institute (DSI) is a member of the Agency for Science, Technology and Research (A*STAR), which is the lead agency for fostering world-class scientific research and talent for a vibrant knowledge-based and innovation-driven Singapore.
DSI's vision is to be a vital node in nurturing research talents and capabilities for world-class R&D in next-generation storage technologies.
- CNA/ck
- wong chee tat :)
More Indian companies showing interest in SGX listing
More Indian companies showing interest in SGX listing
By Lynda Hong | Posted: 13 December 2011 2006 hrs
SINGAPORE : Royal Bank of Scotland has reported an increase in interest by Indian companies to list their shares on the Singapore Exchange (SGX).
The number of Indian listings on the SGX lags far behind those from China but some big deals may be in the works.
Shares of Indian companies must be listed in their home country before they can list in Singapore.
Theoretically, that makes a pool of 18,000 potential SGX candidates.
SGX has continued to see strong interest in Indian companies listing REITs and Business Trusts.
There are now some 10 Indian Global Depository Receipts (GDRs) listed on SGX.
But investors are shy about investing in GDRs as they are not stocks, but certificates representing a number of underlying shares registered in another country.
Dilip Kadambi, Head, Equity Capital Markets, India and SEA, said: "It would probably be more ideal to have an equity listing, a straight stock listing, rather than have a GDR listing where you'd find the liquidity vanish and a lot of fund managers...don't like illiquid stuff, illiquid counters."
Mr Kadambi says in the last year interest has grown for Indian companies to list on the SGX with possible deals ranging from between 15 million to 600 million US dollars.
However there are only three Indian listings on the SGX thus far.
The number pales against the 148 listings of Chinese firms (S-chips) which comprises 19 percent of SGX listings although investor appetite for S-chips remains clouded by scandal.
Eric Ong, Analyst, Kim Eng Research, said: "We do see less Chinese listings in the pipeline, especially given the low valuation it can command in the market. This is because of the negative perception it has been getting from the investors right now because there's been a few corporate scandals recently. "
Over at Deloitte Singapore, there has been fewer IPO queries compared to the second half of last year (at fewer than ten).
Still, half of them are from China.
Dr Ernest Kan, Head, Global IFRS & Offerings Services, Deloitte Singapore & Southeast Asia, said: "The Chinese entities are still very hungry because they haven't sought their listing yet, locally. To have another market here out in Singapore, they would still be very keen to come. Whereas for the Indian companies, they would have assess to see if they can tap from their domestic markets, then they will probably stay put. But if they can't, of course then they would look to Singapore."
To get more Indian companies to list in Singapore, the SGX has appointed Neena Prasad as Senior Vice President and Head of Listings (India).
She has led SGX's efforts to attract Indian listings since 1st November although this is an uphill task as the sovereign debt crisis has made many wait for more certainty before listing their stock.
- CNA/ch
- wong chee tat :)
By Lynda Hong | Posted: 13 December 2011 2006 hrs
SINGAPORE : Royal Bank of Scotland has reported an increase in interest by Indian companies to list their shares on the Singapore Exchange (SGX).
The number of Indian listings on the SGX lags far behind those from China but some big deals may be in the works.
Shares of Indian companies must be listed in their home country before they can list in Singapore.
Theoretically, that makes a pool of 18,000 potential SGX candidates.
SGX has continued to see strong interest in Indian companies listing REITs and Business Trusts.
There are now some 10 Indian Global Depository Receipts (GDRs) listed on SGX.
But investors are shy about investing in GDRs as they are not stocks, but certificates representing a number of underlying shares registered in another country.
Dilip Kadambi, Head, Equity Capital Markets, India and SEA, said: "It would probably be more ideal to have an equity listing, a straight stock listing, rather than have a GDR listing where you'd find the liquidity vanish and a lot of fund managers...don't like illiquid stuff, illiquid counters."
Mr Kadambi says in the last year interest has grown for Indian companies to list on the SGX with possible deals ranging from between 15 million to 600 million US dollars.
However there are only three Indian listings on the SGX thus far.
The number pales against the 148 listings of Chinese firms (S-chips) which comprises 19 percent of SGX listings although investor appetite for S-chips remains clouded by scandal.
Eric Ong, Analyst, Kim Eng Research, said: "We do see less Chinese listings in the pipeline, especially given the low valuation it can command in the market. This is because of the negative perception it has been getting from the investors right now because there's been a few corporate scandals recently. "
Over at Deloitte Singapore, there has been fewer IPO queries compared to the second half of last year (at fewer than ten).
Still, half of them are from China.
Dr Ernest Kan, Head, Global IFRS & Offerings Services, Deloitte Singapore & Southeast Asia, said: "The Chinese entities are still very hungry because they haven't sought their listing yet, locally. To have another market here out in Singapore, they would still be very keen to come. Whereas for the Indian companies, they would have assess to see if they can tap from their domestic markets, then they will probably stay put. But if they can't, of course then they would look to Singapore."
To get more Indian companies to list in Singapore, the SGX has appointed Neena Prasad as Senior Vice President and Head of Listings (India).
She has led SGX's efforts to attract Indian listings since 1st November although this is an uphill task as the sovereign debt crisis has made many wait for more certainty before listing their stock.
- CNA/ch
- wong chee tat :)
Singapore hotels expect strong bookings for corporate events next year
Singapore hotels expect strong bookings for corporate events next year
By Yvonne Chan | Posted: 13 December 2011 2243 hrs
SINGAPORE : Corporate events bookings at Singapore hotels have increased this holiday season and the Singapore Tourism Board (STB) says the outlook for next year is also positive despite the economic slowdown.
In Singapore, hotels are adorned in Christmas livery and preparations for year-end festivities are in full-swing.
Meetings, Incentives, Conventions and Exhibitions (MICE) bookings have had a strong showing so far.
A survey of hotels in Singapore have shown that corporate bookings for the year 2011 have actually increased despite the global economic uncertainty and they are seeing healthy demand from both locals and overseas companies across a broad range of industries.
Figures gathered by Channel NewsAsia show growth in corporate bookings ranging from 12 to 50 percent compared to last year.
Colin Wang, General Manager, Grand Copthorne Waterfront Hotel, said: "2011 has been a good year for most businesses. I think you know it's only right that companies are still spending to thank some of their clients. So we're still seeing a lot of dinner and dance (D&D) still to come. In fact for December, the numbers are looking good, with combination of weddings and D&Ds. But of course, businesses will continue to ask for the usual value-added. We've just got to be a bit more creative in packaging things with a good proposition."
Elaine Kum, Director of Marketing, Marriott Singapore, said: "If they need to organise meetings in a hotel, they will go ahead with that. If they have a budget, they'll probably need to select a different category of hotel to match their budget."
According to STB figures, business travellers on the average form about a third of visitor arrivals to Singapore and contribute more than 30 percent of tourist spending.
The STB says the outlook for corporate MICE bookings in 2012 remains optimistic, with demand from Asia to remain strong.
With the Singapore Airshow and International Furniture Fair among the numerous events lined up for 2012, hoteliers are 'lighting up' in anticipation.
Colin Wang said: "Growth forecast is expected to be targeting 5 to 10 percent for 2012...We have to be fairly cautious at this stage. Even years tend to be a good years for the hospitality sector with the Airshow and the number of conventions happening in the city. But we just have to be cautious given that Singapore is small and we're not that weather-proof when it comes to a recession."
And even as the global economic outlook continues to remain bleak, the corporate eyes are still set on ringing in a glittery new year.
- CNA/ch
- wong chee tat :)
By Yvonne Chan | Posted: 13 December 2011 2243 hrs
SINGAPORE : Corporate events bookings at Singapore hotels have increased this holiday season and the Singapore Tourism Board (STB) says the outlook for next year is also positive despite the economic slowdown.
In Singapore, hotels are adorned in Christmas livery and preparations for year-end festivities are in full-swing.
Meetings, Incentives, Conventions and Exhibitions (MICE) bookings have had a strong showing so far.
A survey of hotels in Singapore have shown that corporate bookings for the year 2011 have actually increased despite the global economic uncertainty and they are seeing healthy demand from both locals and overseas companies across a broad range of industries.
Figures gathered by Channel NewsAsia show growth in corporate bookings ranging from 12 to 50 percent compared to last year.
Colin Wang, General Manager, Grand Copthorne Waterfront Hotel, said: "2011 has been a good year for most businesses. I think you know it's only right that companies are still spending to thank some of their clients. So we're still seeing a lot of dinner and dance (D&D) still to come. In fact for December, the numbers are looking good, with combination of weddings and D&Ds. But of course, businesses will continue to ask for the usual value-added. We've just got to be a bit more creative in packaging things with a good proposition."
Elaine Kum, Director of Marketing, Marriott Singapore, said: "If they need to organise meetings in a hotel, they will go ahead with that. If they have a budget, they'll probably need to select a different category of hotel to match their budget."
According to STB figures, business travellers on the average form about a third of visitor arrivals to Singapore and contribute more than 30 percent of tourist spending.
The STB says the outlook for corporate MICE bookings in 2012 remains optimistic, with demand from Asia to remain strong.
With the Singapore Airshow and International Furniture Fair among the numerous events lined up for 2012, hoteliers are 'lighting up' in anticipation.
Colin Wang said: "Growth forecast is expected to be targeting 5 to 10 percent for 2012...We have to be fairly cautious at this stage. Even years tend to be a good years for the hospitality sector with the Airshow and the number of conventions happening in the city. But we just have to be cautious given that Singapore is small and we're not that weather-proof when it comes to a recession."
And even as the global economic outlook continues to remain bleak, the corporate eyes are still set on ringing in a glittery new year.
- CNA/ch
- wong chee tat :)
JTC to launch 2-stage tender for Jurong Rock Caverns
JTC to launch 2-stage tender for Jurong Rock Caverns
Posted: 13 December 2011 1705 hrs
SINGAPORE : JTC Corporation is launching a two-stage tender this Friday to engage an operator for Jurong Rock Caverns, Singapore's first underground hydrocarbon storage facility.
The tender is for an operator to manage and operate the first phase of the Caverns.
Located at Jurong Island, Phase One of the Caverns will be completed in stages between 2013 and 2014. The operatorship contract is scheduled to commence in 2013, and will be for a period of 15 years.
Shortlisted participants from the first stage will be invited to submit their business proposals within two months.
Chief executive officer of JTC, Manohar Khiatani, said the two-stage request for proposal is to ensure rigour in the selection process so that a capable and qualified operator is engaged to operate and manage the Caverns.
He said the target was to get an operator on board by the second half of next year.
The Caverns project is the first underground rock cavern for hydrocarbon storage in Singapore and Southeast Asia.
Located at a depth of 130 metres beneath Selat Banyan at Jurong Island, it is expected to provide infrastructural support to manufacturers on Jurong Island, and meet the storage needs for liquid hydrocarbons such as crude oil, condensate, naphtha and gas oil.
Applications must be submitted by January 13 next year.
- CNA/ms
- wong chee tat :)
Posted: 13 December 2011 1705 hrs
SINGAPORE : JTC Corporation is launching a two-stage tender this Friday to engage an operator for Jurong Rock Caverns, Singapore's first underground hydrocarbon storage facility.
The tender is for an operator to manage and operate the first phase of the Caverns.
Located at Jurong Island, Phase One of the Caverns will be completed in stages between 2013 and 2014. The operatorship contract is scheduled to commence in 2013, and will be for a period of 15 years.
Shortlisted participants from the first stage will be invited to submit their business proposals within two months.
Chief executive officer of JTC, Manohar Khiatani, said the two-stage request for proposal is to ensure rigour in the selection process so that a capable and qualified operator is engaged to operate and manage the Caverns.
He said the target was to get an operator on board by the second half of next year.
The Caverns project is the first underground rock cavern for hydrocarbon storage in Singapore and Southeast Asia.
Located at a depth of 130 metres beneath Selat Banyan at Jurong Island, it is expected to provide infrastructural support to manufacturers on Jurong Island, and meet the storage needs for liquid hydrocarbons such as crude oil, condensate, naphtha and gas oil.
Applications must be submitted by January 13 next year.
- CNA/ms
- wong chee tat :)
Credit Agricole to cut 2,350 global jobs: union
Credit Agricole to cut 2,350 global jobs: union
Posted: 14 December 2011 1927 hrs
PARIS - French banking group Credit Agricole is to cut 2,350 jobs around the world, including 850 positions in France, mainly at its Cacib investment bank, the Force Ouvriere (FO) union said on Wednesday.
At Cacib, 1,750 jobs will be cut globally, including 550 in France, said FO's representative for the bank, Bernard Pechard.
The bank's consumer credit branch, CACF, will see 600 jobs cut, half in France and half in the rest of the world.
Bank management held meetings on Wednesday with union officials representing staff at Cacib and CACF.
Pechard said he expected more job cuts would be announced when similar meetings are held at other Credit Agricole subsidiaries, including leasing arm Calef, which has 3,100 employees, and equity broker Chevreux, which has 800.
On Tuesday union sources had said they expected "several hundred" jobs to be cut at Credit Agricole, which last month reported a 65 percent drop in net attributable quarterly profit.
Credit Agricole, one of the biggest banks in Europe by capitalisation, employs 160,000 people around the world, a third of them outside of France, while Cacib employs about 15,000 people globally, including 4,600 in France.
Like other French banks, Credit Agricole has been hit by its exposure to Greek sovereign debt amid the eurozone debt crisis and last month revealed a 60 percent write-down of its holdings of Greek bonds.
The Moody's agency earlier this month downgraded its credit rating on Credit Agricole's long-term debt by one notch to Aa3, as it also announced downgrades on two other leading French banks, BNP Paribas and Societe Generale.
BNP Paribas expects to cut 1,400 jobs globally, mainly in its corporate and investment bank CIB, unions said last month, while Societe Generale has also warned unions of plans to cut several hundred jobs.
- AFP/ir
- wong chee tat :)
Posted: 14 December 2011 1927 hrs
PARIS - French banking group Credit Agricole is to cut 2,350 jobs around the world, including 850 positions in France, mainly at its Cacib investment bank, the Force Ouvriere (FO) union said on Wednesday.
At Cacib, 1,750 jobs will be cut globally, including 550 in France, said FO's representative for the bank, Bernard Pechard.
The bank's consumer credit branch, CACF, will see 600 jobs cut, half in France and half in the rest of the world.
Bank management held meetings on Wednesday with union officials representing staff at Cacib and CACF.
Pechard said he expected more job cuts would be announced when similar meetings are held at other Credit Agricole subsidiaries, including leasing arm Calef, which has 3,100 employees, and equity broker Chevreux, which has 800.
On Tuesday union sources had said they expected "several hundred" jobs to be cut at Credit Agricole, which last month reported a 65 percent drop in net attributable quarterly profit.
Credit Agricole, one of the biggest banks in Europe by capitalisation, employs 160,000 people around the world, a third of them outside of France, while Cacib employs about 15,000 people globally, including 4,600 in France.
Like other French banks, Credit Agricole has been hit by its exposure to Greek sovereign debt amid the eurozone debt crisis and last month revealed a 60 percent write-down of its holdings of Greek bonds.
The Moody's agency earlier this month downgraded its credit rating on Credit Agricole's long-term debt by one notch to Aa3, as it also announced downgrades on two other leading French banks, BNP Paribas and Societe Generale.
BNP Paribas expects to cut 1,400 jobs globally, mainly in its corporate and investment bank CIB, unions said last month, while Societe Generale has also warned unions of plans to cut several hundred jobs.
- AFP/ir
- wong chee tat :)
Hong Kong-based Storefriendly opens first outlet in Singapore
Hong Kong-based Storefriendly opens first outlet in Singapore
By Venus Hew | Posted: 09 December 2011 2217 hrs
SINGAPORE : As the average apartment size in Singapore shrinks so does the space people have to keep their stuff.
The trend is attracting a new wave of companies that rent out storage space.
Hong Kong-based Storefriendly opened its first franchised outlet in Singapore on Friday.
It aims to have 25 operating across the country by 2014.
Jes Johansen, Managing Director at Storefriendly, said: "We believe that Singapore is ripe in that apartment size is getting smaller. People consistently accumulate a lot of things, they want to have access to them and we believe with the small storage conveniently located, air conditioned, they will make use of that, they will appreciate that product right in their neighbourhood.
Storefriendly's 12,500 square foot outlet at Bukit Batok comprises about 300 secure lockers.
They will cost between 88 and 888 dollars per month to rent, depending on the size.
The company says it has the largest network in Asia, with 90 branches through Hong Kong, China and Macau.
It opens a new franchise on average every month, and this year its revenue jumped 50 percent to S$60 million.
The top four existing operators in Singapore control the majority of the industry's approximately 17,000 storage units or one million square feet of net lettable area.
With a population of 5 million in Singapore, Storefriendly says that will translate into an industry penetration of 0.25 square feet of self-storage space per person or one storage unit per 250th person.
By contrast, the penetration in more developed markets is above one square foot per person or about 80 people per storage unit.
Singapore therefore has the capacity for further organic growth in the self-storage industry.
Another industry player, Lock and Store says consumer demand in Singapore is growing 5 percent a year, in view of the smaller properties being built.
- CNA/ch
- wong chee tat :)
By Venus Hew | Posted: 09 December 2011 2217 hrs
SINGAPORE : As the average apartment size in Singapore shrinks so does the space people have to keep their stuff.
The trend is attracting a new wave of companies that rent out storage space.
Hong Kong-based Storefriendly opened its first franchised outlet in Singapore on Friday.
It aims to have 25 operating across the country by 2014.
Jes Johansen, Managing Director at Storefriendly, said: "We believe that Singapore is ripe in that apartment size is getting smaller. People consistently accumulate a lot of things, they want to have access to them and we believe with the small storage conveniently located, air conditioned, they will make use of that, they will appreciate that product right in their neighbourhood.
Storefriendly's 12,500 square foot outlet at Bukit Batok comprises about 300 secure lockers.
They will cost between 88 and 888 dollars per month to rent, depending on the size.
The company says it has the largest network in Asia, with 90 branches through Hong Kong, China and Macau.
It opens a new franchise on average every month, and this year its revenue jumped 50 percent to S$60 million.
The top four existing operators in Singapore control the majority of the industry's approximately 17,000 storage units or one million square feet of net lettable area.
With a population of 5 million in Singapore, Storefriendly says that will translate into an industry penetration of 0.25 square feet of self-storage space per person or one storage unit per 250th person.
By contrast, the penetration in more developed markets is above one square foot per person or about 80 people per storage unit.
Singapore therefore has the capacity for further organic growth in the self-storage industry.
Another industry player, Lock and Store says consumer demand in Singapore is growing 5 percent a year, in view of the smaller properties being built.
- CNA/ch
- wong chee tat :)
Jurong East Bus Interchange moving to temporary site
Jurong East Bus Interchange moving to temporary site
Posted: 12 December 2011 1119 hrs
SINGAPORE: The Jurong East Bus Interchange will be moving to a temporary location, next to the existing bus interchange, from Saturday.
SBS Transit said the move is to facilitate the development of a new integrated bus interchange on the existing site.
All 17 bus services will be moving over to the temporary interchange along Jurong Gateway Road.
SBS Transit said staff will be deployed on the first few days to assist passengers.
- CNA/cc
- wong chee tat :)
Posted: 12 December 2011 1119 hrs
SINGAPORE: The Jurong East Bus Interchange will be moving to a temporary location, next to the existing bus interchange, from Saturday.
SBS Transit said the move is to facilitate the development of a new integrated bus interchange on the existing site.
All 17 bus services will be moving over to the temporary interchange along Jurong Gateway Road.
SBS Transit said staff will be deployed on the first few days to assist passengers.
- CNA/cc
- wong chee tat :)
Monday, December 12, 2011
ANZ to roll out improved cash management platform
ANZ to roll out improved cash management platform
By Wong Siew Ying | Posted: 06 December 2011 1950 hrs
SINGAPORE: The Australia and New Zealand Banking Group (ANZ) intends to roll out an improved cash management platform in the coming months.
The platform is currently being piloted in Singapore and Hong Kong.
ANZ said it includes for example an Internet platform to provide business clients with solutions for their receivables.
The bank said its cash management revenue in Asia Pacific, Europe and America grew by 59 per cent on-year in the 2011 financial year.
ANZ is also planning to build its operations in debt markets, interest rates, foreign exchange and trade finance.
ANZ Singapore said it hopes to play a leading role in sectors like natural resources, infrastructure and agri-business for its institutional banking business.
Its private banking business is also larger, after its acquisition of Royal Bank of Scotland's (RBS) businesses in Singapore and Taiwan last year.
ANZ Singapore said its private bank currently hires about 100 client-facing staff.
- CNA/fa
- wong chee tat :)
By Wong Siew Ying | Posted: 06 December 2011 1950 hrs
SINGAPORE: The Australia and New Zealand Banking Group (ANZ) intends to roll out an improved cash management platform in the coming months.
The platform is currently being piloted in Singapore and Hong Kong.
ANZ said it includes for example an Internet platform to provide business clients with solutions for their receivables.
The bank said its cash management revenue in Asia Pacific, Europe and America grew by 59 per cent on-year in the 2011 financial year.
ANZ is also planning to build its operations in debt markets, interest rates, foreign exchange and trade finance.
ANZ Singapore said it hopes to play a leading role in sectors like natural resources, infrastructure and agri-business for its institutional banking business.
Its private banking business is also larger, after its acquisition of Royal Bank of Scotland's (RBS) businesses in Singapore and Taiwan last year.
ANZ Singapore said its private bank currently hires about 100 client-facing staff.
- CNA/fa
- wong chee tat :)
Singaporeans gather to see lunar eclipse
Singaporeans gather to see lunar eclipse
By Qiuyi Tan | Posted: 11 December 2011 0000 hrs
SINGAPORE: Hundreds gathered at Marina Bay on Saturday evening to witness a total lunar eclipse, a rare view in Singapore.
Some moongazers were happy to use telescopes offered by the local astronomical community, Singastro.
A total eclipse only happens during a full moon. It occurs when the moon passes through the Earth's shadow.
Channel NewsAsia's camera crew caught the very start of the celestial event, around 7.30pm, when the bottom left of the moon started to darken.
The eclipse can also be seen in other parts of the world, from Alaska to Central Asia and Australia.
- CNA/ir
- wong chee tat :)
By Qiuyi Tan | Posted: 11 December 2011 0000 hrs
SINGAPORE: Hundreds gathered at Marina Bay on Saturday evening to witness a total lunar eclipse, a rare view in Singapore.
Some moongazers were happy to use telescopes offered by the local astronomical community, Singastro.
A total eclipse only happens during a full moon. It occurs when the moon passes through the Earth's shadow.
Channel NewsAsia's camera crew caught the very start of the celestial event, around 7.30pm, when the bottom left of the moon started to darken.
The eclipse can also be seen in other parts of the world, from Alaska to Central Asia and Australia.
- CNA/ir
- wong chee tat :)
Mead Johnson Nutrition invests US$325m in S'pore facilities
Mead Johnson Nutrition invests US$325m in S'pore facilities
By Wong Siew Ying | Posted: 09 December 2011 1447 hrs
SINGAPORE: Mead Johnson Nutrition is investing US$325 million in new manufacturing and R&D facilities in Singapore - the largest capital investment in the company's history.
It said the plant will enable the company to better serve its customers in Asia as well as to support its fast growing business in the region.
The investment is expected to strengthen Mead Johnson Nutrition's regional supply chain and improve its overall operating efficiency.
The company said the new plant will be staffed by new hires in Singapore and personnel transferred from its operations in other locations.
Mead Johnson is a global leader in pediatric nutrition and it develops and distributes over 70 products in more than 50 markets worldwide.
- CNA/cc
- wong chee tat :)
By Wong Siew Ying | Posted: 09 December 2011 1447 hrs
SINGAPORE: Mead Johnson Nutrition is investing US$325 million in new manufacturing and R&D facilities in Singapore - the largest capital investment in the company's history.
It said the plant will enable the company to better serve its customers in Asia as well as to support its fast growing business in the region.
The investment is expected to strengthen Mead Johnson Nutrition's regional supply chain and improve its overall operating efficiency.
The company said the new plant will be staffed by new hires in Singapore and personnel transferred from its operations in other locations.
Mead Johnson is a global leader in pediatric nutrition and it develops and distributes over 70 products in more than 50 markets worldwide.
- CNA/cc
- wong chee tat :)
Zurich Financial Services plans to boost life insurance business in Singapore
Zurich Financial Services plans to boost life insurance business in Singapore
By Wong Siew Ying | Posted: 12 December 2011 1856 hrs
SINGAPORE : Zurich Financial Services plans to double its life insurance premiums generated in Singapore over the next three years.
The company has made an application to the Monetary Authority of Singapore for a full subsidiary licence for its life insurance business.
Giving an update on its business, the insurance company says the licence will allow it to tap into the other 95 per cent of the life insurance market in Singapore.
Currently, Zurich Financial Services serves mainly large corporates, high net worth individuals and the expatriate community due to licensing restrictions.
Regulations only permit the company to service clients who has the ability to invest at least US$5,000 per annum over ten years.
Next year, it hopes to roll out more insurance solutions for Singaporeans and Permanent Residents, such as savings and retirement offerings.
Zurich Financial expects emerging markets to contribute about half of its new life insurance business by 2013.
Emerging market operations currently account for about 26 per cent of group's new life insurance business, before including recent acquisitions in Latin America and Malaysia.
Overall, Zurich Financial Services booked a US$4.9 billion in business operating profits in 2010.
Martin Senn, CEO, Zurich Financial Services, said: "A year ago, we have set a target for new business value for the life business of 30 per cent for all emerging markets. That was a target we wanted to achieve by end 2013. We are now very close to that, there is high expectation that we will exceed that target by 2013 and Asia will be somewhere in the area of 20 per cent participation of that target."
- CNA/ch
- wong chee tat :)
By Wong Siew Ying | Posted: 12 December 2011 1856 hrs
SINGAPORE : Zurich Financial Services plans to double its life insurance premiums generated in Singapore over the next three years.
The company has made an application to the Monetary Authority of Singapore for a full subsidiary licence for its life insurance business.
Giving an update on its business, the insurance company says the licence will allow it to tap into the other 95 per cent of the life insurance market in Singapore.
Currently, Zurich Financial Services serves mainly large corporates, high net worth individuals and the expatriate community due to licensing restrictions.
Regulations only permit the company to service clients who has the ability to invest at least US$5,000 per annum over ten years.
Next year, it hopes to roll out more insurance solutions for Singaporeans and Permanent Residents, such as savings and retirement offerings.
Zurich Financial expects emerging markets to contribute about half of its new life insurance business by 2013.
Emerging market operations currently account for about 26 per cent of group's new life insurance business, before including recent acquisitions in Latin America and Malaysia.
Overall, Zurich Financial Services booked a US$4.9 billion in business operating profits in 2010.
Martin Senn, CEO, Zurich Financial Services, said: "A year ago, we have set a target for new business value for the life business of 30 per cent for all emerging markets. That was a target we wanted to achieve by end 2013. We are now very close to that, there is high expectation that we will exceed that target by 2013 and Asia will be somewhere in the area of 20 per cent participation of that target."
- CNA/ch
- wong chee tat :)
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A faster ride on the information superhighway
A faster ride on the information superhighway
MOE to equip 360 schools islandwide with faster broadband connections
by Tan Weizhen
04:45 AM Nov 30, 2011
SINGAPORE - About 360 schools across the country will have their current information technology backbone overhauled, as they look set to tap into the new super fast broadband network in five months' time.
Earlier this month, the Ministry of Education (MOE) awarded a S$32.6 million contract to SingTel to outfit primary, secondary schools and junior colleges with the Next Generation Nationwide Broadband Network (NGNBN).
The network services "will benefit teaching, learning and assessment applications as these can be bandwidth intensive", said an MOE spokesperson in response to queries from Today.
As broadband speed at these schools gets ramped up drastically and capacities become standardised across the board, analysts felt this would level the playing field among schools in terms of technology adoption.
Mr Frank Levering, a research manager in research firm IDC, said that the effect, though not immediately obvious, would be the "catalyst" for innovative technologies - which often requires high speeds and much bandwidth - to change the educational landscape.
He said: "Many schools have selectively kept up with technology and a select few have embraced it fully to maximise the potential advantages of new technologies. Introducing nationwide enablers such as national broadband will narrow the gaps between them in any case, and assist the schools who desire to do so in leapfrogging to the front of the pack."
Principals Today spoke to said that there had been teachers who had wanted to explore new teaching tools, but were hampered by slower speeds.
Mr Zach Ong, principal of Tech Whye Secondary, said that, with 1,400 students in his school, the current bandwidth is not sufficient for even simple activities like viewing Youtube videos. "Currently, we do innovative teaching, such as gaming, in pockets. But after the rollout, we will explore it on a larger scale. It will revolutionise the way we teach, but it will take time."
In some schools here, this new broadband backbone will ease congestion, as often, having a thousand students in a single school session mean that not all are able to log on using the current network at the same time.
Schools also say that, with higher, more stable speeds, learning has the potential to become a lot more collaborative - in line with MOE's third master plan - and with more content creation.
Mr Adrian Lim, principal of Ngee Ann Secondary, said that NGNBN will provide an environment stable enough to support greater levels of collaboration between teachers and students and their peers overseas, using video conferencing. This will cut down on costs incurred by the many study trips that schools undertake now, teachers say.
According to analysts and educators, other possible, innovative educational tools include more stable virtual classroom conditions for e-learning - which are increasingly common in schools, as well as using games to learn.
Learning materials will go beyond mundane text. Mrs May Tang, principal of ChangKat Primary, said: "I'm thinking along the lines of using teacher prepared resources that may come with video, audio and picture files which require a faster Internet speed for smooth streaming. As these resources are teacher prepared, there is definitely greater customisation."
Overall, this project may possibly cut costs for schools. In the United Kingdom, a similar project undertaken by Virgin Media to provide over 2,000 schools with broadband, cut connectivity costs by two-thirds for schools.
- wong chee tat :)
MOE to equip 360 schools islandwide with faster broadband connections
by Tan Weizhen
04:45 AM Nov 30, 2011
SINGAPORE - About 360 schools across the country will have their current information technology backbone overhauled, as they look set to tap into the new super fast broadband network in five months' time.
Earlier this month, the Ministry of Education (MOE) awarded a S$32.6 million contract to SingTel to outfit primary, secondary schools and junior colleges with the Next Generation Nationwide Broadband Network (NGNBN).
The network services "will benefit teaching, learning and assessment applications as these can be bandwidth intensive", said an MOE spokesperson in response to queries from Today.
As broadband speed at these schools gets ramped up drastically and capacities become standardised across the board, analysts felt this would level the playing field among schools in terms of technology adoption.
Mr Frank Levering, a research manager in research firm IDC, said that the effect, though not immediately obvious, would be the "catalyst" for innovative technologies - which often requires high speeds and much bandwidth - to change the educational landscape.
He said: "Many schools have selectively kept up with technology and a select few have embraced it fully to maximise the potential advantages of new technologies. Introducing nationwide enablers such as national broadband will narrow the gaps between them in any case, and assist the schools who desire to do so in leapfrogging to the front of the pack."
Principals Today spoke to said that there had been teachers who had wanted to explore new teaching tools, but were hampered by slower speeds.
Mr Zach Ong, principal of Tech Whye Secondary, said that, with 1,400 students in his school, the current bandwidth is not sufficient for even simple activities like viewing Youtube videos. "Currently, we do innovative teaching, such as gaming, in pockets. But after the rollout, we will explore it on a larger scale. It will revolutionise the way we teach, but it will take time."
In some schools here, this new broadband backbone will ease congestion, as often, having a thousand students in a single school session mean that not all are able to log on using the current network at the same time.
Schools also say that, with higher, more stable speeds, learning has the potential to become a lot more collaborative - in line with MOE's third master plan - and with more content creation.
Mr Adrian Lim, principal of Ngee Ann Secondary, said that NGNBN will provide an environment stable enough to support greater levels of collaboration between teachers and students and their peers overseas, using video conferencing. This will cut down on costs incurred by the many study trips that schools undertake now, teachers say.
According to analysts and educators, other possible, innovative educational tools include more stable virtual classroom conditions for e-learning - which are increasingly common in schools, as well as using games to learn.
Learning materials will go beyond mundane text. Mrs May Tang, principal of ChangKat Primary, said: "I'm thinking along the lines of using teacher prepared resources that may come with video, audio and picture files which require a faster Internet speed for smooth streaming. As these resources are teacher prepared, there is definitely greater customisation."
Overall, this project may possibly cut costs for schools. In the United Kingdom, a similar project undertaken by Virgin Media to provide over 2,000 schools with broadband, cut connectivity costs by two-thirds for schools.
- wong chee tat :)
Moderate to heavy rain expected over next two days
Moderate to heavy rain expected over next two days
by Olivia Siong
07:33 PM Dec 01, 2011
SINGAPORE - Singaporeans can expect more wet weather and potential flash floods in the next two days.
The Meteorological Service said Singapore is likely to experience moderate to heavy showers with thunder on Friday and Saturday.
This is due to a monsoon surge, which is expected to affect the region from December 2 to 4.
A monsoon surges refer to the steady strengthening of north-easterly winds blowing from the South China Sea.
This usually bring periods of prolonged and widespread heavy rain, lasting between two and five days.
Occasionally, windy conditions and cooler temperatures are also expected.
Minister for the Environment and Water Resources, Vivian Balakrishnan, said water agency PUB will take necessary precautions, and keep the public informed.
- wong chee tat :)
by Olivia Siong
07:33 PM Dec 01, 2011
SINGAPORE - Singaporeans can expect more wet weather and potential flash floods in the next two days.
The Meteorological Service said Singapore is likely to experience moderate to heavy showers with thunder on Friday and Saturday.
This is due to a monsoon surge, which is expected to affect the region from December 2 to 4.
A monsoon surges refer to the steady strengthening of north-easterly winds blowing from the South China Sea.
This usually bring periods of prolonged and widespread heavy rain, lasting between two and five days.
Occasionally, windy conditions and cooler temperatures are also expected.
Minister for the Environment and Water Resources, Vivian Balakrishnan, said water agency PUB will take necessary precautions, and keep the public informed.
- wong chee tat :)
DBS to roll out new security tokens from end 2011
DBS to roll out new security tokens from end 2011
by Tan Weizhen
01:08 PM Dec 01, 2011
SINGAPORE - DBS Bank customers will start receiving a new Internet banking token from the end of this year. The new token promises to be more secure in light of increasing cyber attacks that target banks internationally.
The new token, said to have what is called 'transaction signing capabilities', will replace the old token by the end of 2012.
It will be sent out to customers in batches throughout next year, and full activation will take place by the fourth quarter of next year.
This new token will have additional buttons for more one-time passwords (OTP), which customers will be prompted to enter at various steps of the transactions. The number of passwords will be deployed according to the risk level of the transactions.
A pilot run on the new token was conducted in October for 750 customers but DBS said it will continue to work out the best flow of the steps customers need to go through through focus groups.
- wong chee tat :)
by Tan Weizhen
01:08 PM Dec 01, 2011
SINGAPORE - DBS Bank customers will start receiving a new Internet banking token from the end of this year. The new token promises to be more secure in light of increasing cyber attacks that target banks internationally.
The new token, said to have what is called 'transaction signing capabilities', will replace the old token by the end of 2012.
It will be sent out to customers in batches throughout next year, and full activation will take place by the fourth quarter of next year.
This new token will have additional buttons for more one-time passwords (OTP), which customers will be prompted to enter at various steps of the transactions. The number of passwords will be deployed according to the risk level of the transactions.
A pilot run on the new token was conducted in October for 750 customers but DBS said it will continue to work out the best flow of the steps customers need to go through through focus groups.
- wong chee tat :)
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