Sunday, December 30, 2012
Friday, December 28, 2012
Thursday, December 27, 2012
Fall in public transport satisfaction among concerns in review
Fall in public transport satisfaction among concerns in review
By S Ramesh | Posted: 26 December 2012 2140 hrs
SINGAPORE: The Singapore Public Sector Outcomes Review (SPOR) 2012 released on Wednesday gave an update on progress across the "whole-of-government" approach in recent years.
Published once every two years, SPOR provides a perspective on how Singapore and its public sector have fared in a broad range of areas of national interest.
Political watchers Channel NewsAsia spoke to say engaging Singaporeans in service delivery and policy formulation remains a key challenge.
SPOR covers six themes -- among them is providing a world class infrastructure and strengthening social security.
While Singapore has done well in areas like improving healthcare and broadening educational pathways, there are still challenges and concerns facing Singaporeans.
One is the fall in public transport satisfaction over the last two years.
"People expect these services to be more thoughtful and to have a shorter turnaround time and be more responsive," said Liang Eng Hwa, deputy chairman of the Government Parliamentary Committee (GPC) for Finance and Trade & Industry and MP for Holland-Bukit Timah GRC.
"Take for example (the) MRT; we have been building kilometres of MRT lines. That is good, but people expect to have a better last mile service. For example… connectivity within the station and linkages (which allow) residents (to) more conveniently access the station," he added.
SPOR also touched on the issue of fostering stronger families.
The review said Singapore's fertility rate has declined steeply in the past decade. According to the review Singapore's fertility rate is currently at 1.2, which is far below the replacement rate of 2.1.
These and many other issues will be addressed in the White Paper on Population next month.
"The White Paper also needs to address the average Singaporean's concern as to whether immigration will actually undermine the ethos of Singapore society," said Assistant Professor Eugene Tan of Singapore Management University, who is also a nominated MP.
"Ultimately it is trying to get a consensus from Singaporeans as well as people living in Singapore about how we are going to deal with an issue which certainly generates a lot of angst," he added.
The review said improving service delivery and strengthening public engagement are key priorities for the public sector.
Public feedback has grown significantly over the years, reflecting Singaporeans' desire for greater engagement with the government on matters of public policy.
- CNA/jc
- wong chee tat :)
By S Ramesh | Posted: 26 December 2012 2140 hrs
SINGAPORE: The Singapore Public Sector Outcomes Review (SPOR) 2012 released on Wednesday gave an update on progress across the "whole-of-government" approach in recent years.
Published once every two years, SPOR provides a perspective on how Singapore and its public sector have fared in a broad range of areas of national interest.
Political watchers Channel NewsAsia spoke to say engaging Singaporeans in service delivery and policy formulation remains a key challenge.
SPOR covers six themes -- among them is providing a world class infrastructure and strengthening social security.
While Singapore has done well in areas like improving healthcare and broadening educational pathways, there are still challenges and concerns facing Singaporeans.
One is the fall in public transport satisfaction over the last two years.
"People expect these services to be more thoughtful and to have a shorter turnaround time and be more responsive," said Liang Eng Hwa, deputy chairman of the Government Parliamentary Committee (GPC) for Finance and Trade & Industry and MP for Holland-Bukit Timah GRC.
"Take for example (the) MRT; we have been building kilometres of MRT lines. That is good, but people expect to have a better last mile service. For example… connectivity within the station and linkages (which allow) residents (to) more conveniently access the station," he added.
SPOR also touched on the issue of fostering stronger families.
The review said Singapore's fertility rate has declined steeply in the past decade. According to the review Singapore's fertility rate is currently at 1.2, which is far below the replacement rate of 2.1.
These and many other issues will be addressed in the White Paper on Population next month.
"The White Paper also needs to address the average Singaporean's concern as to whether immigration will actually undermine the ethos of Singapore society," said Assistant Professor Eugene Tan of Singapore Management University, who is also a nominated MP.
"Ultimately it is trying to get a consensus from Singaporeans as well as people living in Singapore about how we are going to deal with an issue which certainly generates a lot of angst," he added.
The review said improving service delivery and strengthening public engagement are key priorities for the public sector.
Public feedback has grown significantly over the years, reflecting Singaporeans' desire for greater engagement with the government on matters of public policy.
- CNA/jc
- wong chee tat :)
Exchange of unused expired parking coupons
Exchange of unused expired parking coupons
Posted: 27 December 2012 1125 hrs
SINGAPORE: Motorists are reminded that parking coupons valid up to Monday, 31 December can no longer be used from 1 January.
The Housing & Development Board (HDB) and Urban Redevelopment Authority (URA) said those with unused, expired coupons can exchange them for new ones from 2 January.
They can do so at all HDB branches and service centres, and the URA Customer Service Centre at Maxwell Road.
The parking coupons cannot be exchanged at other sales outlets such as petrol stations, shops and post offices.
- CNA/al
- wong chee tat :)
Posted: 27 December 2012 1125 hrs
SINGAPORE: Motorists are reminded that parking coupons valid up to Monday, 31 December can no longer be used from 1 January.
The Housing & Development Board (HDB) and Urban Redevelopment Authority (URA) said those with unused, expired coupons can exchange them for new ones from 2 January.
They can do so at all HDB branches and service centres, and the URA Customer Service Centre at Maxwell Road.
The parking coupons cannot be exchanged at other sales outlets such as petrol stations, shops and post offices.
- CNA/al
- wong chee tat :)
Eight private estates selected for upgrading to provide better facilities
Eight private estates selected for upgrading to provide better facilities
By Monica Kotwani | Posted: 26 December 2012 1830 hrs
SINGAPORE: The Ministry of National Development (MND) will spend about S$29 million over the next two years to upgrade and develop the infrastructure in private estates.
Eight private estates have been selected - Goldhill, Mayflower Gardens and Yio Chu Kang Gardens, Cashew and Hazel Park Terrace, Greenleaf, Bartley Neighbourhood, Carmichael, Haig Road, and Limau.
The Ministry said these are the older private estates which have a greater scope for improvement.
Works include landscaping, play and fitness equipment, park furniture and widening of footpaths.
More than 7,000 households in these estates are expected to benefit from the improved facilities when works are completed in three to four years.
Since 2000 when the Estate Upgrading Programme first started, MND has spent S$138 million benefiting more than 34,000 households in 46 private estates.
Dr Mohamad Maliki Osman, Chairman of the Estate Upgrading Programme Committee, and Senior Parliamentary Secretary for National Development, said: "There is high demand for upgrading and improvement works from private estates.
"When selecting a site for upgrading, we consider the age and physical condition of the estate, and scope for improvement.
"We are encouraged to see the strong support for our private estate upgrading programmes, which not only create a better living environment but also strengthen community bonding."
- CNA/de
- wong chee tat :)
By Monica Kotwani | Posted: 26 December 2012 1830 hrs
SINGAPORE: The Ministry of National Development (MND) will spend about S$29 million over the next two years to upgrade and develop the infrastructure in private estates.
Eight private estates have been selected - Goldhill, Mayflower Gardens and Yio Chu Kang Gardens, Cashew and Hazel Park Terrace, Greenleaf, Bartley Neighbourhood, Carmichael, Haig Road, and Limau.
The Ministry said these are the older private estates which have a greater scope for improvement.
Works include landscaping, play and fitness equipment, park furniture and widening of footpaths.
More than 7,000 households in these estates are expected to benefit from the improved facilities when works are completed in three to four years.
Since 2000 when the Estate Upgrading Programme first started, MND has spent S$138 million benefiting more than 34,000 households in 46 private estates.
Dr Mohamad Maliki Osman, Chairman of the Estate Upgrading Programme Committee, and Senior Parliamentary Secretary for National Development, said: "There is high demand for upgrading and improvement works from private estates.
"When selecting a site for upgrading, we consider the age and physical condition of the estate, and scope for improvement.
"We are encouraged to see the strong support for our private estate upgrading programmes, which not only create a better living environment but also strengthen community bonding."
- CNA/de
- wong chee tat :)
Industrial property prices to continue to climb in 2013, say analysts
Industrial property prices to continue to climb in 2013, say analysts
By Wong Siew Ying | Posted: 26 December 2012 2236 hrs
SINGAPORE: Prices of industrial properties in Singapore have risen by some 27 per cent in the first three quarters of 2012.
Some analysts say prices could climb by 30 per cent for the entire year, one of the highest in recent years. They attribute the increase to buoyant demand for strata-titled industrial premises.
Low interest rates, high liquidity and cooling measures in the residential property segment have further fuelled demand.
The Singapore government has set aside 24.84 hectares of industrial land for the first half of 2013. They will also require developers to build a minimum number of large factory units for selected plots under the Industrial Government Land Sales Programme.
Some market watchers however say the upward price trend is likely to continue in 2013.
"Prices are at an all-time high now. Compared to the 1997 peak, we are about 14.9 per cent higher, and compared to the most recent peak in 2008, we are now at more than 59.3 per cent higher," said Chia Siew Chuin, director of research and advisory at Colliers International.
"At the same time, buyers are also more resistant now in terms of pricing especially within such uncertain economic conditions," added Ms Chia.
The government cut lease terms for industrial sites from 60 to 30 years earlier this year in a bid to make industrial land more affordable.
However some analysts say the move has had a limited impact.
"We can expect more policy measures affecting the industrial market next year. If that transpires, we will see a flattening out in terms of industrial land price demand... (However) we will still be looking at an uptick (of) not more than 10 per cent," said Donald Han, a special advisor at HSR.
Analysts also expect rentals for industrial properties to fall in the coming year, in view of some 8 million square feet of business and industrial parks that is due to be completed in the next 16 months.
"The substantial supply that is coming in both high tech space as well as conventional industrial spaces will likely help keep rental growth in check going forward," said Chua Yang Liang, head of research at Jones Lang LaSalle.
"Capital value is a very different ball game now; it may see some stronger growth compared to rental," added Mr Chua.
Market watchers have also said that they expect rentals in the office property segment to dip by 5 per cent in 2013.
Analysts however say the decline will be mitigated by rising demand for office space in the central business district, especially from companies outside the financial services sector. These include law firms as well as a variety of consultancy firms.
However, with the uncertain economic outlook next year, analysts say a supply overhang could be a rising concern.
They expect some 4 million square feet of new office space to be available in the next two years.
- CNA/jc
- wong chee tat :)
By Wong Siew Ying | Posted: 26 December 2012 2236 hrs
SINGAPORE: Prices of industrial properties in Singapore have risen by some 27 per cent in the first three quarters of 2012.
Some analysts say prices could climb by 30 per cent for the entire year, one of the highest in recent years. They attribute the increase to buoyant demand for strata-titled industrial premises.
Low interest rates, high liquidity and cooling measures in the residential property segment have further fuelled demand.
The Singapore government has set aside 24.84 hectares of industrial land for the first half of 2013. They will also require developers to build a minimum number of large factory units for selected plots under the Industrial Government Land Sales Programme.
Some market watchers however say the upward price trend is likely to continue in 2013.
"Prices are at an all-time high now. Compared to the 1997 peak, we are about 14.9 per cent higher, and compared to the most recent peak in 2008, we are now at more than 59.3 per cent higher," said Chia Siew Chuin, director of research and advisory at Colliers International.
"At the same time, buyers are also more resistant now in terms of pricing especially within such uncertain economic conditions," added Ms Chia.
The government cut lease terms for industrial sites from 60 to 30 years earlier this year in a bid to make industrial land more affordable.
However some analysts say the move has had a limited impact.
"We can expect more policy measures affecting the industrial market next year. If that transpires, we will see a flattening out in terms of industrial land price demand... (However) we will still be looking at an uptick (of) not more than 10 per cent," said Donald Han, a special advisor at HSR.
Analysts also expect rentals for industrial properties to fall in the coming year, in view of some 8 million square feet of business and industrial parks that is due to be completed in the next 16 months.
"The substantial supply that is coming in both high tech space as well as conventional industrial spaces will likely help keep rental growth in check going forward," said Chua Yang Liang, head of research at Jones Lang LaSalle.
"Capital value is a very different ball game now; it may see some stronger growth compared to rental," added Mr Chua.
Market watchers have also said that they expect rentals in the office property segment to dip by 5 per cent in 2013.
Analysts however say the decline will be mitigated by rising demand for office space in the central business district, especially from companies outside the financial services sector. These include law firms as well as a variety of consultancy firms.
However, with the uncertain economic outlook next year, analysts say a supply overhang could be a rising concern.
They expect some 4 million square feet of new office space to be available in the next two years.
- CNA/jc
- wong chee tat :)
Ascott strengthening market presence in China
Ascott strengthening market presence in China
Posted: 26 December 2012 1635 hrs
SINGAPORE: The Ascott, CapitaLand's wholly-owned serviced residence business unit, is strengthening its market presence in China.
In a filing to the Singapore Exchange, the firm said it has secured contracts to manage three properties with more than 500 apartment units in China.
The 90-unit Ascott Heng Shan Shanghai is scheduled to open in 2014.
Meanwhile, two serviced apartments in Suzhou - the 250-unit Ascott Emerald City Suzhou and the 194-unit Somerset Baitang Suzhou - will start operations in 2015 and 2017 respectively.
With the latest additions, Ascott will have more than 10 serviced residences in Shanghai and Suzhou.
Mr Lee Chee Koon, Ascott's Deputy Chief Executive Officer and Managing Director for North Asia, said, "Deepening our presence in these two cities enables us to better tap the fast-growing demand for serviced residences and build economies of scale in our operations."
These new contracts will also reinforce the firm's leadership position as the largest international serviced residence owner-operator in China, with over 8,000 apartment units in 46 properties across 17 cities.
- CNA/de
- wong chee tat :)
Posted: 26 December 2012 1635 hrs
SINGAPORE: The Ascott, CapitaLand's wholly-owned serviced residence business unit, is strengthening its market presence in China.
In a filing to the Singapore Exchange, the firm said it has secured contracts to manage three properties with more than 500 apartment units in China.
The 90-unit Ascott Heng Shan Shanghai is scheduled to open in 2014.
Meanwhile, two serviced apartments in Suzhou - the 250-unit Ascott Emerald City Suzhou and the 194-unit Somerset Baitang Suzhou - will start operations in 2015 and 2017 respectively.
With the latest additions, Ascott will have more than 10 serviced residences in Shanghai and Suzhou.
Mr Lee Chee Koon, Ascott's Deputy Chief Executive Officer and Managing Director for North Asia, said, "Deepening our presence in these two cities enables us to better tap the fast-growing demand for serviced residences and build economies of scale in our operations."
These new contracts will also reinforce the firm's leadership position as the largest international serviced residence owner-operator in China, with over 8,000 apartment units in 46 properties across 17 cities.
- CNA/de
- wong chee tat :)
Tuesday, December 25, 2012
Singapore's Nov inflation moderates to 3.6% on-year
Singapore's Nov inflation moderates to 3.6% on-year
Posted: 24 December 2012 1406 hrs
SINGAPORE: Singapore's inflation moderated to 3.6 per cent on-year in November, down from 4.0 per cent in October and lower than what economists had expected.
Data released by the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS) on Monday showed that the lower consumer price index (CPI) last month was mainly due to slower increases in housing and transports costs.
Accommodation costs rose 6.6 per cent in November, down from October's 6.8 per cent, on the back of smaller rental increases in both public and private housing.
Private road transport costs also slowed to 6.7 per cent, from 8.3 per cent in October due to lower car prices.
Combined, transport and housing accounted for just under two-thirds of the CPI-All Items in November, according to the MTI and MAS.
Marginal cost increases in holiday travel and healthcare also slowed services inflation to 2.9 per cent in November from 3.1 per cent in October.
But food inflation held steady at 1.7 per cent.
The November core inflation rate which excludes transport and accommodation also fell to 2.0 per cent last month, from 2.2 per cent in October.
MAS and MTI said imported inflation will be generally benign, while the persistent tightness in the labour market will support wage increases in 2013.
The central bank has forecast a full-year inflation of slightly above 4.5 per cent this year and between 3.5 per cent and 4.5 per cent in 2013.
Economists say the base effect from last year's higher inflation also kept November's inflation lower.
But they expect housing, transport and services costs to inch higher in the coming months.
- CNA/al/xq
- wong chee tat :)
Posted: 24 December 2012 1406 hrs
SINGAPORE: Singapore's inflation moderated to 3.6 per cent on-year in November, down from 4.0 per cent in October and lower than what economists had expected.
Data released by the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS) on Monday showed that the lower consumer price index (CPI) last month was mainly due to slower increases in housing and transports costs.
Accommodation costs rose 6.6 per cent in November, down from October's 6.8 per cent, on the back of smaller rental increases in both public and private housing.
Private road transport costs also slowed to 6.7 per cent, from 8.3 per cent in October due to lower car prices.
Combined, transport and housing accounted for just under two-thirds of the CPI-All Items in November, according to the MTI and MAS.
Marginal cost increases in holiday travel and healthcare also slowed services inflation to 2.9 per cent in November from 3.1 per cent in October.
But food inflation held steady at 1.7 per cent.
The November core inflation rate which excludes transport and accommodation also fell to 2.0 per cent last month, from 2.2 per cent in October.
MAS and MTI said imported inflation will be generally benign, while the persistent tightness in the labour market will support wage increases in 2013.
The central bank has forecast a full-year inflation of slightly above 4.5 per cent this year and between 3.5 per cent and 4.5 per cent in 2013.
Economists say the base effect from last year's higher inflation also kept November's inflation lower.
But they expect housing, transport and services costs to inch higher in the coming months.
- CNA/al/xq
- wong chee tat :)
Monday, December 24, 2012
More S'poreans fall prey to "lucky draw" phone scams
More S'poreans fall prey to "lucky draw" phone scams
Posted: 23 December 2012 1628 hrs
SINGAPORE: More Singaporeans fell prey to lucky draw phone scams in the first eight months of the year.
Police said there were 234 reported cases in the period, of which 134 victims were cheated of their money.
Between January and August last year, there were 201 reported cases of lucky draw phone scams and 123 victims who were cheated.
The amount of money cheated from victims went up by 21 per cent to S$4.6 million, compared to S$3.8 million in the same period last year.
Police said victims include professionals, youths and senior citizens.
Tricksters would typically call their victims and inform them that they have won a prize in a lucky draw overseas.
In order to redeem the prize, which could be a luxury car or air tickets, the victim will have to pay a processing fee or tax upfront.
After receiving the first payment via bank transfers, the tricksters would ask for subsequent payments.
The victim usually realises he or she has been cheated when the culprit becomes uncontactable.
Police advised the public to call 999 immediately if they receive a lucky draw phone scam call.
The public should not make any advance payment to claim any prize.
On the other hand, fewer phone kidnap scam cases were reported in the first eight months of the year.
Police said it received 251 reports from the public. This is a 36 per cent fall from the same period last year, which saw 393 cases.
Of the reported cases, 20 individuals lost S$115,000 to scammers.
The amount lost registered a 39 per cent fall as compared to the period between January and August last year, where victims were cheated of S$189,000.
In these scams, the modus operandi involves the culprits calling the victims to inform them that their family member had been kidnapped.
The family member who was purportedly kidnapped would plead for help over the phone.
The victims would then be compelled to pay a ransom via a selected remittance centre.
Police said some of the remittance centres where victims were often instructed to proceed to are located in Ang Mo Kio Central, People's Park Complex and Pearl's Centre.
In almost all cases, the victim could negotiate with the culprit on the ransom sum to an amount that the victim could afford.
Members of the public are advised to call the police at 999 if they receive a phone kidnap scam call.
They should remain calm and contact their family member to confirm his or her safety, and should not remit any money to the scammers.
- CNA/xq
- wong chee tat :)
Posted: 23 December 2012 1628 hrs
SINGAPORE: More Singaporeans fell prey to lucky draw phone scams in the first eight months of the year.
Police said there were 234 reported cases in the period, of which 134 victims were cheated of their money.
Between January and August last year, there were 201 reported cases of lucky draw phone scams and 123 victims who were cheated.
The amount of money cheated from victims went up by 21 per cent to S$4.6 million, compared to S$3.8 million in the same period last year.
Police said victims include professionals, youths and senior citizens.
Tricksters would typically call their victims and inform them that they have won a prize in a lucky draw overseas.
In order to redeem the prize, which could be a luxury car or air tickets, the victim will have to pay a processing fee or tax upfront.
After receiving the first payment via bank transfers, the tricksters would ask for subsequent payments.
The victim usually realises he or she has been cheated when the culprit becomes uncontactable.
Police advised the public to call 999 immediately if they receive a lucky draw phone scam call.
The public should not make any advance payment to claim any prize.
On the other hand, fewer phone kidnap scam cases were reported in the first eight months of the year.
Police said it received 251 reports from the public. This is a 36 per cent fall from the same period last year, which saw 393 cases.
Of the reported cases, 20 individuals lost S$115,000 to scammers.
The amount lost registered a 39 per cent fall as compared to the period between January and August last year, where victims were cheated of S$189,000.
In these scams, the modus operandi involves the culprits calling the victims to inform them that their family member had been kidnapped.
The family member who was purportedly kidnapped would plead for help over the phone.
The victims would then be compelled to pay a ransom via a selected remittance centre.
Police said some of the remittance centres where victims were often instructed to proceed to are located in Ang Mo Kio Central, People's Park Complex and Pearl's Centre.
In almost all cases, the victim could negotiate with the culprit on the ransom sum to an amount that the victim could afford.
Members of the public are advised to call the police at 999 if they receive a phone kidnap scam call.
They should remain calm and contact their family member to confirm his or her safety, and should not remit any money to the scammers.
- CNA/xq
- wong chee tat :)
New diagnostic kit allows testing for ricin poisoning
New diagnostic kit allows testing for ricin poisoning
By Seet Sok Hwee, Try Sutrisno Foo | Posted: 22 December 2012 2246 hrs
SINGAPORE: A new diagnostic kit developed by Singapore's DSO National Laboratories and the Defence Science Technology Organisation (DSTO) in Australia will allow for the testing of a potent toxin, known as ricin, in humans.
Ricin is found in the common castor bean plant and oil produced from the plant is widely used industrially.
A dose as small as a few grains of salt can kill an adult human if it is inhaled or injected.
The danger of ricin poisoning lies in the symptoms exhibited, which are similar to common food poisoning or respiratory illness.
This makes the diagnosis of ricin poisoning particularly challenging.
Ricin has also been known to be used in biological warfare.
With the new kit, ricin poisoning can be immediately detected, by running human samples such blood and stools, through the kit.
"For this test, we only need 50 micro-litres of sample. That's probably equivalent to two drops if you do a fingerprick," said Chen Hsiao Ying, senior technical staff at the Defence, Medical & Environmental Research Institute.
A person can only be tested after ricin has been in the body for at least eight hours.
Current diagnostic kits can test for ricin contamination in food, soil or water, but not humans.
The new kit will be commercially available in two years' time.
- CNA/xq
- wong chee tat :)
By Seet Sok Hwee, Try Sutrisno Foo | Posted: 22 December 2012 2246 hrs
SINGAPORE: A new diagnostic kit developed by Singapore's DSO National Laboratories and the Defence Science Technology Organisation (DSTO) in Australia will allow for the testing of a potent toxin, known as ricin, in humans.
Ricin is found in the common castor bean plant and oil produced from the plant is widely used industrially.
A dose as small as a few grains of salt can kill an adult human if it is inhaled or injected.
The danger of ricin poisoning lies in the symptoms exhibited, which are similar to common food poisoning or respiratory illness.
This makes the diagnosis of ricin poisoning particularly challenging.
Ricin has also been known to be used in biological warfare.
With the new kit, ricin poisoning can be immediately detected, by running human samples such blood and stools, through the kit.
"For this test, we only need 50 micro-litres of sample. That's probably equivalent to two drops if you do a fingerprick," said Chen Hsiao Ying, senior technical staff at the Defence, Medical & Environmental Research Institute.
A person can only be tested after ricin has been in the body for at least eight hours.
Current diagnostic kits can test for ricin contamination in food, soil or water, but not humans.
The new kit will be commercially available in two years' time.
- CNA/xq
- wong chee tat :)
Top bid for Chinatown CNY bazaar stalls drops 60%
Top bid for Chinatown CNY bazaar stalls drops 60%
By Claire Huang | Posted: 22 December 2012 2218 hrs
SINGAPORE: The bidding war for stalls at the Lunar New Year bazaar in Chinatown has begun. The bazaar will be on from January 18 till the eve of Lunar New Year on February 9.
Guangzhou Wax Meat owner Yip Wai Keong made the top bid for two stalls at the junction of Smith Street and Trengganu Street, where human traffic is the heaviest.
He paid S$5,000 for each stall, 60 per cent less than the previous year. He bid S$12,888 for one stall in the same area last year.
There are 500 stalls at the bazaar and of these, only 50 were up for bidding.
Mr Yip had also rented two stalls in the area for S$4,000 each.
He said: "As we've already got these two stalls, it doesn't matter if we win the bids this year. There's no pressure to do so; we didn't have to put in a high bid this year."
Stall owners said they are worried about the unpredictable weather and take a cautious approach when ordering their supplies.
- CNA/xq
- wong chee tat :)
By Claire Huang | Posted: 22 December 2012 2218 hrs
SINGAPORE: The bidding war for stalls at the Lunar New Year bazaar in Chinatown has begun. The bazaar will be on from January 18 till the eve of Lunar New Year on February 9.
Guangzhou Wax Meat owner Yip Wai Keong made the top bid for two stalls at the junction of Smith Street and Trengganu Street, where human traffic is the heaviest.
He paid S$5,000 for each stall, 60 per cent less than the previous year. He bid S$12,888 for one stall in the same area last year.
There are 500 stalls at the bazaar and of these, only 50 were up for bidding.
Mr Yip had also rented two stalls in the area for S$4,000 each.
He said: "As we've already got these two stalls, it doesn't matter if we win the bids this year. There's no pressure to do so; we didn't have to put in a high bid this year."
Stall owners said they are worried about the unpredictable weather and take a cautious approach when ordering their supplies.
- CNA/xq
- wong chee tat :)
Retail sector growth slows: Savills
Retail sector growth slows: Savills
Property GuruProperty Guru – Tue, Dec 18, 2012
by Cheryl Tay
The Christmas season has brought little joy to retailers as they face lacklustre sales, according to the Q4 2012 Retail Briefing by Savills Research.
Excluding motor vehicles, retail sales posted a growth of 1.3 percent. However, year-on-year growth slowed to -0.6 percent (4.1 percent since April 2012). At the same time, sales of jewellery and watches — a measure of discretionary spending — fell for six straight months in October.
Retailers were also generally cautious in expanding their stores in H2 2012, with several looking to consolidate their operations. Nevertheless, existing retailers and new entrants who increased their presence were offered space with attractive rents and strategic locations.
Stores that expanded include famous brands such as Uniqlo, Toys"R"Us, Sephora, Lowrys Farm, Isetan and H&M. The latter opened its second store in ION Orchard, while Babies"R"Us and Toys"R"Us opened two adjacent stores in City Square Mall (pictured), with a combined area of 25,000 sq ft.
In addition, two malls — Chinatown Point and Plaza Singapura's new wing — opened in November. Formerly known as The Atrium@Orchard, the new wing increased Plaza Singapura's net leasable area to 629,000 sq ft from 498,150 sq ft.
Average prime rents on Orchard Road slid to S$35.1 psf pm in Q4 from S$35.2 in the previous quarter, while rents in prime suburban areas remained at S$31.1 psf pm.
"In the absence of extreme shocks, such as the 2009 supply onslaught of nearly 1.3 million sq ft on Orchard Road and negative GDP growth, we expect just a mild rental correction of up to three percent in the main shopping belt," said Alan Cheong, Director at Savills Research Singapore.Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email cheryltay@allproperty.com.sg
- wong chee tat :)
Property GuruProperty Guru – Tue, Dec 18, 2012
by Cheryl Tay
The Christmas season has brought little joy to retailers as they face lacklustre sales, according to the Q4 2012 Retail Briefing by Savills Research.
Excluding motor vehicles, retail sales posted a growth of 1.3 percent. However, year-on-year growth slowed to -0.6 percent (4.1 percent since April 2012). At the same time, sales of jewellery and watches — a measure of discretionary spending — fell for six straight months in October.
Retailers were also generally cautious in expanding their stores in H2 2012, with several looking to consolidate their operations. Nevertheless, existing retailers and new entrants who increased their presence were offered space with attractive rents and strategic locations.
Stores that expanded include famous brands such as Uniqlo, Toys"R"Us, Sephora, Lowrys Farm, Isetan and H&M. The latter opened its second store in ION Orchard, while Babies"R"Us and Toys"R"Us opened two adjacent stores in City Square Mall (pictured), with a combined area of 25,000 sq ft.
In addition, two malls — Chinatown Point and Plaza Singapura's new wing — opened in November. Formerly known as The Atrium@Orchard, the new wing increased Plaza Singapura's net leasable area to 629,000 sq ft from 498,150 sq ft.
Average prime rents on Orchard Road slid to S$35.1 psf pm in Q4 from S$35.2 in the previous quarter, while rents in prime suburban areas remained at S$31.1 psf pm.
"In the absence of extreme shocks, such as the 2009 supply onslaught of nearly 1.3 million sq ft on Orchard Road and negative GDP growth, we expect just a mild rental correction of up to three percent in the main shopping belt," said Alan Cheong, Director at Savills Research Singapore.Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email cheryltay@allproperty.com.sg
- wong chee tat :)
Rent in Orchard Rd prime areas down 0.28% in Q4
Rent in Orchard Rd prime areas down 0.28% in Q4
By Lip Kwok Wai, Alice Chia | Posted: 22 December 2012 2141 hrs
SINGAPORE: Prime area rent for shopping malls and retailers in Orchard Road inched down 0.28 per cent this quarter, compared to the previous quarter.
In a report by Savills World Research, average monthly rent in prime areas in Orchard Road were S$35.1 per square foot in the fourth quarter.
This is a slight drop from the S$35.2 per square foot in Q3.
Analysts felt that this is due to adjustments in the market, as rent in the area were growing too fast previously.
Alan Cheong, director of Savills Research said the fall could be due to over-expecting the level of tourism in Singapore.
He said: "While (tourism) did increase, apparently the spending power did not quite live up to its expectation. Rent and performance in the Orchard Road belt will be dependent on tourism trade and on the state of the economy."
More retail spaces will also be available soon.
Recently, Plaza Singapura completed its expansion works, providing 80 more shops.
A larger scale development, Orchard Gateway, will provide 180,000 square feet of retail space next year.
Analysts also say that a gloomy economic outlook ahead could also see rent fall by up to 3 per cent, and if economic growth slows, people will spend less.
Retailers may then take a hit, in turn exerting a downward pressure on rent.
- CNA/xq
- wong chee tat :)
By Lip Kwok Wai, Alice Chia | Posted: 22 December 2012 2141 hrs
SINGAPORE: Prime area rent for shopping malls and retailers in Orchard Road inched down 0.28 per cent this quarter, compared to the previous quarter.
In a report by Savills World Research, average monthly rent in prime areas in Orchard Road were S$35.1 per square foot in the fourth quarter.
This is a slight drop from the S$35.2 per square foot in Q3.
Analysts felt that this is due to adjustments in the market, as rent in the area were growing too fast previously.
Alan Cheong, director of Savills Research said the fall could be due to over-expecting the level of tourism in Singapore.
He said: "While (tourism) did increase, apparently the spending power did not quite live up to its expectation. Rent and performance in the Orchard Road belt will be dependent on tourism trade and on the state of the economy."
More retail spaces will also be available soon.
Recently, Plaza Singapura completed its expansion works, providing 80 more shops.
A larger scale development, Orchard Gateway, will provide 180,000 square feet of retail space next year.
Analysts also say that a gloomy economic outlook ahead could also see rent fall by up to 3 per cent, and if economic growth slows, people will spend less.
Retailers may then take a hit, in turn exerting a downward pressure on rent.
- CNA/xq
- wong chee tat :)
Demand for rice in China falls with rising affluence
Demand for rice in China falls with rising affluence
By Valarie Tan | Posted: 23 December 2012 2234 hrs
JILIN: China may be the world's biggest rice consumer, but some say demand will fall, as its people become more affluent and consume more meat and dairy products.
Nearly 200 million tonnes are produced in China each year.
But as grain processing became more mechanized, the appetite of affluent Chinese has also became more polished.
On average, a person in China is said to consume 90 kilograms of rice each year.
While that number is also the highest in the world right now, it is also expected to decrease over time.
With growing affluence, the Chinese are reportedly supplementing their diet with more dairy products, such as milk and cheese.
Meat and other protein-rich products are almost considered staple food.
Changing dietary patterns have led experts to predict that rice consumption in China will fall by half in the next decade.
A similar trend is already seen in countries like Japan and South Korea.
Despite changing dietary habits, Singapore-based Wilmar International remains positive.
"Those who eat more protein and dairy products will also demand for better quality rice. They're after the consumer-pack premium rice, so it won't affect demand," said Wu Zhihua, rice division director of Wilmar International.
"In recent years, consumer-pack rice has reached a volume of 6 to 7 million tonnes and is growing at 4 to 50 per cent each year."
Wilmar International is already China's largest producer of consumer-pack oil, under the brand Golden Dragon Fish.
Wilmar International has set its sights on growing its market share of consumer-pack rice - which currently stands at five per cent - by investing in better crops.
Mr Wu said: "Our investment here will be bigger than the ones for normal padi. The farmer must be incentivized to grow better crop for every order. While it's a huge investment, the unique grade of harvested crop can be processed into better rice and in turn fetch a higher price in the market."
Demand will also be kept up by another trend, where rural residents switch from wheat to a rice diet.
It is enough to drive up this year's projected rice consumption to over 137 million tons.
- CNA/xq
- wong chee tat :)
By Valarie Tan | Posted: 23 December 2012 2234 hrs
JILIN: China may be the world's biggest rice consumer, but some say demand will fall, as its people become more affluent and consume more meat and dairy products.
Nearly 200 million tonnes are produced in China each year.
But as grain processing became more mechanized, the appetite of affluent Chinese has also became more polished.
On average, a person in China is said to consume 90 kilograms of rice each year.
While that number is also the highest in the world right now, it is also expected to decrease over time.
With growing affluence, the Chinese are reportedly supplementing their diet with more dairy products, such as milk and cheese.
Meat and other protein-rich products are almost considered staple food.
Changing dietary patterns have led experts to predict that rice consumption in China will fall by half in the next decade.
A similar trend is already seen in countries like Japan and South Korea.
Despite changing dietary habits, Singapore-based Wilmar International remains positive.
"Those who eat more protein and dairy products will also demand for better quality rice. They're after the consumer-pack premium rice, so it won't affect demand," said Wu Zhihua, rice division director of Wilmar International.
"In recent years, consumer-pack rice has reached a volume of 6 to 7 million tonnes and is growing at 4 to 50 per cent each year."
Wilmar International is already China's largest producer of consumer-pack oil, under the brand Golden Dragon Fish.
Wilmar International has set its sights on growing its market share of consumer-pack rice - which currently stands at five per cent - by investing in better crops.
Mr Wu said: "Our investment here will be bigger than the ones for normal padi. The farmer must be incentivized to grow better crop for every order. While it's a huge investment, the unique grade of harvested crop can be processed into better rice and in turn fetch a higher price in the market."
Demand will also be kept up by another trend, where rural residents switch from wheat to a rice diet.
It is enough to drive up this year's projected rice consumption to over 137 million tons.
- CNA/xq
- wong chee tat :)
More renting cars & yachts this festive season
More renting cars & yachts this festive season
By Hu Jielan, Hetty Musfirah | Posted: 23 December 2012 1759 hrs
SINGAPORE: More Singaporeans are renting cars and yachts for their celebrations this festive season.
The number of short-term car rentals at Prime Car Rental has gone up by about 50 per cent during the festive period.
The company said MPVs are particularly popular, compared to other cars.
For some, it is all about splurging a bit more to celebrate in style.
"We don't really visit the Southern Islands that much and we don't come out to sea very often. So it's something new," said a Singaporean who had rented a yacht.
A four to five-hour cruise on a yacht can cost between S$1,500 and S$4,000, depending on the size.
MarineBookings said almost all of its vessels have been booked for Christmas Eve and the New Year period.
- CNA/xq
- wong chee tat :)
By Hu Jielan, Hetty Musfirah | Posted: 23 December 2012 1759 hrs
SINGAPORE: More Singaporeans are renting cars and yachts for their celebrations this festive season.
The number of short-term car rentals at Prime Car Rental has gone up by about 50 per cent during the festive period.
The company said MPVs are particularly popular, compared to other cars.
For some, it is all about splurging a bit more to celebrate in style.
"We don't really visit the Southern Islands that much and we don't come out to sea very often. So it's something new," said a Singaporean who had rented a yacht.
A four to five-hour cruise on a yacht can cost between S$1,500 and S$4,000, depending on the size.
MarineBookings said almost all of its vessels have been booked for Christmas Eve and the New Year period.
- CNA/xq
- wong chee tat :)
Flea markets making a comeback in S'pore
Flea markets making a comeback in S'pore
By Tan Qiuyi | Posted: 23 December 2012 2116 hrs
SINGAPORE: Singapore is seeing a revival of the humble flea market.
Organisers said the number of people keen to set up a flea market stall has jumped from 600 two years ago, to 15,000 today.
The number of flea market locations has also risen from two to at least 10.
It costs about S$50 to rent a stall for a day.
The relatively low rent has resulted in young people jumping on the bandwagon and renting stalls to flex their entrepreneurial skills.
Organisers said there are plans to offer permanent stalls or push carts at lower cost for budding entrepreneurs.
- CNA/xq
- wong chee tat :)
By Tan Qiuyi | Posted: 23 December 2012 2116 hrs
SINGAPORE: Singapore is seeing a revival of the humble flea market.
Organisers said the number of people keen to set up a flea market stall has jumped from 600 two years ago, to 15,000 today.
The number of flea market locations has also risen from two to at least 10.
It costs about S$50 to rent a stall for a day.
The relatively low rent has resulted in young people jumping on the bandwagon and renting stalls to flex their entrepreneurial skills.
Organisers said there are plans to offer permanent stalls or push carts at lower cost for budding entrepreneurs.
- CNA/xq
- wong chee tat :)
Sunday, December 23, 2012
Saturday, December 22, 2012
Friday, December 21, 2012
CPF Medisave Required Amount to be raised to $38,500
CPF Medisave Required Amount to be raised to $38,500
Posted: 21 December 2012 1205 hrs
SINGAPORE: From January next year, the Medisave Required Amount (MRA) in the Central Provident Fund (CPF) will be raised to S$38,500 from the current S$32,000.
The MRA refers to the amount that must be set aside in the Medisave Account, after the CPF Minimum Sum requirement has been met.
The CPF Board said those who have met the CPF Minimum Sum and have an MRA shortfall at the point of withdrawal have to make a top-up to the Medisave Account.
This can be done with part of the balances from the Ordinary Account and/or Special Account to meet the prevailing MRA.
CPF said the requirement for members to set aside the MRA in their Medisave Account is to enable them to have enough savings to meet their healthcare needs during old age.
Central Provident Fund members will also continue to enjoy a risk free interest rate of four percent on their Special and Medisave Accounts (SMA) for the next three months, from 1 January to 31 March 2013.
The interest rate on their Retirement Accounts (RA) for the whole of next year will also remain at four percent.
The CPF Board said this was in line with the government's announcement in September that it would maintain the four percent per annum floor rate for interest earned on all monies in the Special and Medisave Accounts as well as savings in the Retirement Account until the end of next year.
Savings in the SMA currently earn either 4 percent or the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1 percent, whichever is the higher.
The interest rate on SMA savings is adjusted quarterly, based on interest rates on 10YSGS over a preceding 12-month period.
Since the average yield of the 10YSGS plus 1 percent, from 1 December 2011 to 30 November 2012, works out to be 2.49 percent, the SMA interest rate payable to CPF members from 1 January 2013 to 31 March 2013 will be maintained at the current floor of 4 percent, CPF said.
New RA savings are invested in SSGS which earn a fixed coupon equal to either the 12-month average yield of the 10YSGS plus 1 percent at the point of issuance, or 4 percent, whichever is the higher, adjusted yearly.
CPF said given the lower 10YSGS yield, new RA savings will earn a fixed coupon of 4 percent.
- CNA/al
- wong chee tat :)
Posted: 21 December 2012 1205 hrs
SINGAPORE: From January next year, the Medisave Required Amount (MRA) in the Central Provident Fund (CPF) will be raised to S$38,500 from the current S$32,000.
The MRA refers to the amount that must be set aside in the Medisave Account, after the CPF Minimum Sum requirement has been met.
The CPF Board said those who have met the CPF Minimum Sum and have an MRA shortfall at the point of withdrawal have to make a top-up to the Medisave Account.
This can be done with part of the balances from the Ordinary Account and/or Special Account to meet the prevailing MRA.
CPF said the requirement for members to set aside the MRA in their Medisave Account is to enable them to have enough savings to meet their healthcare needs during old age.
Central Provident Fund members will also continue to enjoy a risk free interest rate of four percent on their Special and Medisave Accounts (SMA) for the next three months, from 1 January to 31 March 2013.
The interest rate on their Retirement Accounts (RA) for the whole of next year will also remain at four percent.
The CPF Board said this was in line with the government's announcement in September that it would maintain the four percent per annum floor rate for interest earned on all monies in the Special and Medisave Accounts as well as savings in the Retirement Account until the end of next year.
Savings in the SMA currently earn either 4 percent or the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1 percent, whichever is the higher.
The interest rate on SMA savings is adjusted quarterly, based on interest rates on 10YSGS over a preceding 12-month period.
Since the average yield of the 10YSGS plus 1 percent, from 1 December 2011 to 30 November 2012, works out to be 2.49 percent, the SMA interest rate payable to CPF members from 1 January 2013 to 31 March 2013 will be maintained at the current floor of 4 percent, CPF said.
New RA savings are invested in SSGS which earn a fixed coupon equal to either the 12-month average yield of the 10YSGS plus 1 percent at the point of issuance, or 4 percent, whichever is the higher, adjusted yearly.
CPF said given the lower 10YSGS yield, new RA savings will earn a fixed coupon of 4 percent.
- CNA/al
- wong chee tat :)
Thursday, December 20, 2012
Wednesday, December 19, 2012
Foreign workers in pay dispute at Yishun construction site
Foreign workers in pay dispute at Yishun construction site
By Tan Qiuyi/Teo Chia Leen | Posted: 18 December 2012 2233 hrs
SINGAPORE: More than 30 workers - from China and India - at a Yishun construction site were involved in a salary dispute on Tuesday, leading to some of them stopping work to demand their pay.
Channel NewsAsia understands the workers are owed between one and four months' pay each.
The project at the site is a HDB residential development and the company involved is believed to be Sime Chong Construction.
Officials from the Ministry of Manpower (MOM) have been in negotiations with the employers and workers on site since about 6pm Tuesday.
Also present were officials from the Migrant Workers' Centre, who told reporters the company has agreed to pay the workers what is owed.
Edmund Ng, executive director of Migrant Workers' Centre, said: "We came here, because we heard there were workers who might be in trouble, and we're here to help. Tonight there may be four workers who will need our help in terms of accommodation. We have a dormitory and we're going to put them in the dormitory tonight. As we speak, the plan is taking shape."
MOM said in a statement that it has been investigating Sime Chong Construction for Employment Act infringements.
The ministry also said that since November 2012 when four workers from China who were working for Sime Chong lodged salary claims at MOM, its labour relations officers have been working to resolve the workers' salary arrears.
MOM said its preliminary investigations show that some 20 Indian workers did not turn up for work on Tuesday, as they had not received their November salaries which would have been due by 7 December.
MOM said these workers did not previously approach the ministry on their salary issues.
Sime Chong, assisted by the main sub-contractor Asiabuild, is currently working to pay the outstanding salaries to the affected workers within the next 24 hours, said MOM.
MOM said it takes a serious view of employers who do not comply with Singapore's employment laws.
- CNA/ir
- wong chee tat :)
By Tan Qiuyi/Teo Chia Leen | Posted: 18 December 2012 2233 hrs
SINGAPORE: More than 30 workers - from China and India - at a Yishun construction site were involved in a salary dispute on Tuesday, leading to some of them stopping work to demand their pay.
Channel NewsAsia understands the workers are owed between one and four months' pay each.
The project at the site is a HDB residential development and the company involved is believed to be Sime Chong Construction.
Officials from the Ministry of Manpower (MOM) have been in negotiations with the employers and workers on site since about 6pm Tuesday.
Also present were officials from the Migrant Workers' Centre, who told reporters the company has agreed to pay the workers what is owed.
Edmund Ng, executive director of Migrant Workers' Centre, said: "We came here, because we heard there were workers who might be in trouble, and we're here to help. Tonight there may be four workers who will need our help in terms of accommodation. We have a dormitory and we're going to put them in the dormitory tonight. As we speak, the plan is taking shape."
MOM said in a statement that it has been investigating Sime Chong Construction for Employment Act infringements.
The ministry also said that since November 2012 when four workers from China who were working for Sime Chong lodged salary claims at MOM, its labour relations officers have been working to resolve the workers' salary arrears.
MOM said its preliminary investigations show that some 20 Indian workers did not turn up for work on Tuesday, as they had not received their November salaries which would have been due by 7 December.
MOM said these workers did not previously approach the ministry on their salary issues.
Sime Chong, assisted by the main sub-contractor Asiabuild, is currently working to pay the outstanding salaries to the affected workers within the next 24 hours, said MOM.
MOM said it takes a serious view of employers who do not comply with Singapore's employment laws.
- CNA/ir
- wong chee tat :)
25 workers in pay row at Yishun site paid outstanding wages
25 workers in pay row at Yishun site paid outstanding wages
Posted: 19 December 2012 0007 hrs
SINGAPORE: More than 30 workers - from China and India - at a Yishun construction site were involved in a salary dispute on Tuesday, leading to some of them stopping work to demand their pay.
Channel NewsAsia understands the workers are owed between one and four months' pay each.
Ministry of Manpower (MOM) officials were in negotiations with the employers and workers on site since about 6pm Tuesday.
Also present were officials from the Migrant Workers' Centre.
Later Tuesday night, MOM said 25 workers have been paid their outstanding salaries as of 11pm.
Three more will be paid on Wednesday.
MOM is checking on the total number of workers owed their salaries. The Migrant Workers' Centre said more than 30 workers were owed their salaries.
- CNA/ir
- wong chee tat :)
Posted: 19 December 2012 0007 hrs
SINGAPORE: More than 30 workers - from China and India - at a Yishun construction site were involved in a salary dispute on Tuesday, leading to some of them stopping work to demand their pay.
Channel NewsAsia understands the workers are owed between one and four months' pay each.
Ministry of Manpower (MOM) officials were in negotiations with the employers and workers on site since about 6pm Tuesday.
Also present were officials from the Migrant Workers' Centre.
Later Tuesday night, MOM said 25 workers have been paid their outstanding salaries as of 11pm.
Three more will be paid on Wednesday.
MOM is checking on the total number of workers owed their salaries. The Migrant Workers' Centre said more than 30 workers were owed their salaries.
- CNA/ir
- wong chee tat :)
Construction site workers stop work over late payment of pay
Construction site workers stop work over late payment of pay
By Tan Qiuyi | Posted: 18 December 2012 1917 hrs
SINGAPORE: Some workers at a construction site along Yishun Avenue 6 have stopped work because of late payment of salaries.
A Mr Tan, who said he is in charge of Sime Chong Construction, told reporters that four of his workers - all Chinese nationals - had stopped work since 26 November.
He said they are owed between S$1,000 and S$2,000 each for the past three months.
He confirmed the four had complained to the Manpower Ministry on 20 November, after which they had a three-way meeting on 26 November.
Mr Tan added that his car was stolen on Monday and the workers' salaries vouchers were lost. As such, he was unable to pay the workers.
He issued "I-O-Us" to them and said he will settle the payment in the next few days.
He told reporters he has about 80 workers - from India, Bangladesh and China - under him.
He said Sime Chong Construction was set up in October last year.
At 6.05pm, officers from the Manpower Ministry were seen entering the construction site office.
Officials from the Migrant Workers Centre were earlier denied entry, as were the media.
The site's gates were shut after groups of workers were seen leaving.
It is believed the site employs workers from several different companies.
- CNA/ir
- wong chee tat :)
By Tan Qiuyi | Posted: 18 December 2012 1917 hrs
SINGAPORE: Some workers at a construction site along Yishun Avenue 6 have stopped work because of late payment of salaries.
A Mr Tan, who said he is in charge of Sime Chong Construction, told reporters that four of his workers - all Chinese nationals - had stopped work since 26 November.
He said they are owed between S$1,000 and S$2,000 each for the past three months.
He confirmed the four had complained to the Manpower Ministry on 20 November, after which they had a three-way meeting on 26 November.
Mr Tan added that his car was stolen on Monday and the workers' salaries vouchers were lost. As such, he was unable to pay the workers.
He issued "I-O-Us" to them and said he will settle the payment in the next few days.
He told reporters he has about 80 workers - from India, Bangladesh and China - under him.
He said Sime Chong Construction was set up in October last year.
At 6.05pm, officers from the Manpower Ministry were seen entering the construction site office.
Officials from the Migrant Workers Centre were earlier denied entry, as were the media.
The site's gates were shut after groups of workers were seen leaving.
It is believed the site employs workers from several different companies.
- CNA/ir
- wong chee tat :)
Man gets 11 weeks' jail for sex with underage girl
Man gets 11 weeks' jail for sex with underage girl
By Alice Chia | Posted: 19 December 2012 1223 hrs
SINGAPORE: A 37-year-old man was sentenced on Wednesday to 11 weeks' jail for having sex with an underage prostitute.
Tan Wei Siong pleaded guilty to one charge of paying the girl $450 for sex at Hotel 81 Bencoolen on 6 October 2010.
Tan is one of the 51 men charged with having paid sex with the girl in a high-profile online vice ring case. He is the 16th man sentenced in the case.
At the time of the offence, Tan was employed as a management executive with Siglap South Community Centre.
He got to know about the girl through a website advertising escort services of various women. The website was operated by a 38-year-old pimp, Tang Boon Thiew.
The court was told that Tan sent an SMS to Tang on 5 October 2010, enquiring if the girl was available.
When Tang replied "yes", Tan proceeded to book the hotel room. Tang then informed the girl about the hotel room number.
The girl was 17 years old at that time.
The maximum penalty for commercial sex with a person below 18 is seven years' jail and a fine.
- CNA/al
- wong chee tat :)
By Alice Chia | Posted: 19 December 2012 1223 hrs
SINGAPORE: A 37-year-old man was sentenced on Wednesday to 11 weeks' jail for having sex with an underage prostitute.
Tan Wei Siong pleaded guilty to one charge of paying the girl $450 for sex at Hotel 81 Bencoolen on 6 October 2010.
Tan is one of the 51 men charged with having paid sex with the girl in a high-profile online vice ring case. He is the 16th man sentenced in the case.
At the time of the offence, Tan was employed as a management executive with Siglap South Community Centre.
He got to know about the girl through a website advertising escort services of various women. The website was operated by a 38-year-old pimp, Tang Boon Thiew.
The court was told that Tan sent an SMS to Tang on 5 October 2010, enquiring if the girl was available.
When Tang replied "yes", Tan proceeded to book the hotel room. Tang then informed the girl about the hotel room number.
The girl was 17 years old at that time.
The maximum penalty for commercial sex with a person below 18 is seven years' jail and a fine.
- CNA/al
- wong chee tat :)
Temasek raises stake in Olam
Temasek raises stake in Olam
Posted: 19 December 2012 1250 hrs
SINGAPORE: Temasek Holdings has raised its stake in commodity trader Olam International to 17 percent from 16.3 percent.
In a filing with the Singapore Exchange, Olam said Temasek had bought 200,000 shares for S$293,000 from the open market on Tuesday through its investment vehicle Aranda Investments.
In an emailed comment to Channel NewsAsia, a Temasek spokesperson said: "We have invested in Olam over several years. In our judgement, the company represents a reasonably attractive investment over the long term and we are pleased to have the opportunity to add to our stake."
Earlier this month, Olam said Temasek is backing its rights issue of bonds and warrants to raise as much as US$1.2 billion.
This could potentially translate to the investment firm owning as much as 29 percent of Olam if it exercises all the warrants in 2016 at the earliest.
Kewalram Chanrai Group, Olam's largest investor with nearly a 20 percent stake, has also said it will back the issue.
Olam has been the target of short-seller Carson Block and his research firm Muddy Waters, which questioned the company's allegedly flawed accounting standards that they claimed masked its debts.
- CNA/al
- wong chee tat :)
Posted: 19 December 2012 1250 hrs
SINGAPORE: Temasek Holdings has raised its stake in commodity trader Olam International to 17 percent from 16.3 percent.
In a filing with the Singapore Exchange, Olam said Temasek had bought 200,000 shares for S$293,000 from the open market on Tuesday through its investment vehicle Aranda Investments.
In an emailed comment to Channel NewsAsia, a Temasek spokesperson said: "We have invested in Olam over several years. In our judgement, the company represents a reasonably attractive investment over the long term and we are pleased to have the opportunity to add to our stake."
Earlier this month, Olam said Temasek is backing its rights issue of bonds and warrants to raise as much as US$1.2 billion.
This could potentially translate to the investment firm owning as much as 29 percent of Olam if it exercises all the warrants in 2016 at the earliest.
Kewalram Chanrai Group, Olam's largest investor with nearly a 20 percent stake, has also said it will back the issue.
Olam has been the target of short-seller Carson Block and his research firm Muddy Waters, which questioned the company's allegedly flawed accounting standards that they claimed masked its debts.
- CNA/al
- wong chee tat :)
Tuesday, December 18, 2012
Buy locally farmed fish to reduce fish imports: Khaw Boon Wan
Buy locally farmed fish to reduce fish imports: Khaw Boon Wan
Posted: 17 December 2012 1549 hrs
SINGAPORE: National Development Minister Khaw Boon Wan has made a call for Singaporeans to support local fish farms by buying locally farmed fish.
In a Facebook posting, Mr Khaw said the target is to raise the market share of locally farmed fish, or SG Fish, to 15 per cent from the current 8 per cent.
Local fish farms have come together to brand their locally farmed fish as "SG Fish", which are labelled as such in supermarkets.
Mr Khaw said Singapore imported 150,000 tonnes of fish last year.
To reduce the country's dependence on fish imports, Mr Khaw said the Agri-food and Veterinary Authority of Singapore (AVA) actively helps local fish farms raise their productivity through Research and Development (R&D).
Much of this scientific test-bedding work is done at AVA's Marine Aquaculture Centre (MAC) on St John's Island.
Mr Khaw, who visited the facility recently, wrote about the R&D efforts made by MAC.
He said one objective of MAC is to help fish reproduce and grow faster.
He said MAC scientists have identified fast growing, good quality fish of several local popular species, such as the Asian Seabass, Pompano and Tilapia.
Secondly, MAC has to get the right environmental conditions for the fishes to spawn.
Third, when the fish larvae are born, they are given an additional boost of a special diet to ensure their healthy growth.
The frys are finally transferred to commercial fish farms for scaling up as adult fish.
Mr Khaw said these R&D efforts have been valuable and have helped to boost Singapore's local fish production, from 4 per cent of total consumption in 2009 to the current 8 per cent.
- CNA/jc
- wong chee tat :)
Posted: 17 December 2012 1549 hrs
SINGAPORE: National Development Minister Khaw Boon Wan has made a call for Singaporeans to support local fish farms by buying locally farmed fish.
In a Facebook posting, Mr Khaw said the target is to raise the market share of locally farmed fish, or SG Fish, to 15 per cent from the current 8 per cent.
Local fish farms have come together to brand their locally farmed fish as "SG Fish", which are labelled as such in supermarkets.
Mr Khaw said Singapore imported 150,000 tonnes of fish last year.
To reduce the country's dependence on fish imports, Mr Khaw said the Agri-food and Veterinary Authority of Singapore (AVA) actively helps local fish farms raise their productivity through Research and Development (R&D).
Much of this scientific test-bedding work is done at AVA's Marine Aquaculture Centre (MAC) on St John's Island.
Mr Khaw, who visited the facility recently, wrote about the R&D efforts made by MAC.
He said one objective of MAC is to help fish reproduce and grow faster.
He said MAC scientists have identified fast growing, good quality fish of several local popular species, such as the Asian Seabass, Pompano and Tilapia.
Secondly, MAC has to get the right environmental conditions for the fishes to spawn.
Third, when the fish larvae are born, they are given an additional boost of a special diet to ensure their healthy growth.
The frys are finally transferred to commercial fish farms for scaling up as adult fish.
Mr Khaw said these R&D efforts have been valuable and have helped to boost Singapore's local fish production, from 4 per cent of total consumption in 2009 to the current 8 per cent.
- CNA/jc
- wong chee tat :)
MOM says term "illegal strike" neither wrong nor prejudicial
MOM says term "illegal strike" neither wrong nor prejudicial
Posted: 17 December 2012 2133 hrs
SINGAPORE: The Ministry of Manpower has refuted civil society group Function 8's accusations that the use of the term "illegal strike" to describe the actions of SMRT bus drivers in late November is wrong and prejudicial.
The ministry's spokesperson added the "serious accusations" are "entirely baseless".
Four SMRT workers were charged in court last month with instigating the incident, which took place over a pay dispute.
Early this month, another driver was charged in court and sentenced to six weeks' jail after he admitted to taking part in the incident.
In an earlier statement to the media, Function 8 said the workers were "doomed from the start" and called a stop to the use of the term "illegal strike".
The group added the term gives the impression that what the bus drivers had done was "illegal" and that there was indeed a "strike".
It said since the cases have not been determined by the court, it is "grievously wrong and prejudicial" to the bus drivers to label their action as such.
Function 8 also said that the ministry is commenting on a pending case and such comments are sub judice and constitute contempt of court.
It also said repeated claims that the drivers had participated in an "illegal strike" amount to prejudging their case and can only be calculated to influence the decision of the judge.
But MOM said the government, including Acting Manpower Minister Tan Chuan-Jin and the Manpower Ministry, has never attempted to prejudice the case.
They added that Part III of the Criminal Law (Temporary Provisions) Act or CLTPA clearly outlines that strike action taken in respect of essential services such as public transport is deemed illegal, unless 14 days' notice has been given.
It was with that in mind that Acting Manpower Minister Tan Chuan-Jin used the term "illegal strike".
MOM also pointed out that Mr Tan referred to workers participating in the strike in general.
He did not refer to the participation of any particular worker, or to any matter pending before a court of law.
In its statement, Function 8 had also questioned why MOM had revoked the work passes of 29 bus drivers so swiftly.
It also asked why it did not allow them legal representation or give them an opportunity to be heard.
Clarifying the incident, MOM said the 29 bus drivers were provided with an opportunity to be heard in relation to their conduct during the strike.
The ministry said the work permits were only revoked after due consideration by the Controller of Work Passes.
It added there is no requirement for legal representation in such a process, and no request was made in this regard by any of the 29 workers.
- CNA/jc
- wong chee tat :)
Posted: 17 December 2012 2133 hrs
SINGAPORE: The Ministry of Manpower has refuted civil society group Function 8's accusations that the use of the term "illegal strike" to describe the actions of SMRT bus drivers in late November is wrong and prejudicial.
The ministry's spokesperson added the "serious accusations" are "entirely baseless".
Four SMRT workers were charged in court last month with instigating the incident, which took place over a pay dispute.
Early this month, another driver was charged in court and sentenced to six weeks' jail after he admitted to taking part in the incident.
In an earlier statement to the media, Function 8 said the workers were "doomed from the start" and called a stop to the use of the term "illegal strike".
The group added the term gives the impression that what the bus drivers had done was "illegal" and that there was indeed a "strike".
It said since the cases have not been determined by the court, it is "grievously wrong and prejudicial" to the bus drivers to label their action as such.
Function 8 also said that the ministry is commenting on a pending case and such comments are sub judice and constitute contempt of court.
It also said repeated claims that the drivers had participated in an "illegal strike" amount to prejudging their case and can only be calculated to influence the decision of the judge.
But MOM said the government, including Acting Manpower Minister Tan Chuan-Jin and the Manpower Ministry, has never attempted to prejudice the case.
They added that Part III of the Criminal Law (Temporary Provisions) Act or CLTPA clearly outlines that strike action taken in respect of essential services such as public transport is deemed illegal, unless 14 days' notice has been given.
It was with that in mind that Acting Manpower Minister Tan Chuan-Jin used the term "illegal strike".
MOM also pointed out that Mr Tan referred to workers participating in the strike in general.
He did not refer to the participation of any particular worker, or to any matter pending before a court of law.
In its statement, Function 8 had also questioned why MOM had revoked the work passes of 29 bus drivers so swiftly.
It also asked why it did not allow them legal representation or give them an opportunity to be heard.
Clarifying the incident, MOM said the 29 bus drivers were provided with an opportunity to be heard in relation to their conduct during the strike.
The ministry said the work permits were only revoked after due consideration by the Controller of Work Passes.
It added there is no requirement for legal representation in such a process, and no request was made in this regard by any of the 29 workers.
- CNA/jc
- wong chee tat :)
Inflation, global slowdown biggest load on economy in 2013: analysts
Inflation, global slowdown biggest load on economy in 2013: analysts
By Linette Lim | Posted: 17 December 2012 1704 hrs
SINGAPORE: Global slowdown aside, inflation may be the biggest load on the Singapore economy next year.
And some of that pressure is self-made as the economy endures yet another go at restructuring.
Logistics, financial services and high-tech manufacturing are just some of the industries that make up Singapore's competitive external economy, which does most of its business with the rest of the world and pays top dollar for skilled labour.
Contrast that with the less efficient domestic economy, which makes use of low-cost foreign manpower to do jobs in retail, construction and cleaning.
That is Singapore's two-tiered economy, which is currently undergoing a major restructuring.
OCBC Bank's head of treasury research and strategy, Selena Ling, said: "With a very tight labour market and the indications that the foreign manpower constraints are going to remain in order to promote productivity growth, it looks like labour costs and some of the other cost elements, such as rentals, logistics, are going to remain fairly tight.
"I think we may not see as much relief on the inflation front in the near term, so this actually puts the April 2013 monetary policy review very likely to be on an unchanged footing at this juncture."
Policies that curb the use of foreign workers have contributed to higher wages.
At around 4-4.5 percent, headline inflation is more than double the historical average, boosted by other domestic factors like accommodation costs and car prices.
At the same time, turning off the flow of cheap manpower will continue to crimp growth -- something that is of no help to exports which are curtailed by weak global demand.
Nomura Singapore's executive director and Southeast Asia economist, Euben Paracuelles, said: "We have a relatively weak backdrop. In terms of how we see Europe, for example, it will still be a bigger recession in terms of our forecast and therefore, Europe still being a significant trading partner of Singapore, will pose a drag.
"Domestically, I think the government needs to manage this transition relatively well. There will be some tightening in domestic policies; labour policies will also be very tight, and that could lead to some weakness in overall investment spending."
Economists said it is unlikely that the Singapore government's stand on restructuring will change, despite the current macroeconomic headwinds.
This means that people will have to accept a lower level of economic growth now, for more sustainable growth in the future.
Growth is expected to come in at 1.5 percent this year, and between 1 and 3 percent in 2013, according to Singapore's Ministry of Trade and Industry.
RBS' vice president of economics research, Enrico Tanuwidjaja, said: "Singapore should be allowed to ride the volatility of slower growth, because externally, it is weak.
"Of course, we'll be sub-optimal, achieving growth below 3 percent this year and next. But after that, with a more diversified economy, not just from manufacturing but also from services, I'm pretty sure that growth will eventually edge higher."
Edge higher it might, but the restructuring currently underway may mean Singapore will have to adapt to a slower, long-term economic growth path.
- CNA/lp
- wong chee tat :)
By Linette Lim | Posted: 17 December 2012 1704 hrs
SINGAPORE: Global slowdown aside, inflation may be the biggest load on the Singapore economy next year.
And some of that pressure is self-made as the economy endures yet another go at restructuring.
Logistics, financial services and high-tech manufacturing are just some of the industries that make up Singapore's competitive external economy, which does most of its business with the rest of the world and pays top dollar for skilled labour.
Contrast that with the less efficient domestic economy, which makes use of low-cost foreign manpower to do jobs in retail, construction and cleaning.
That is Singapore's two-tiered economy, which is currently undergoing a major restructuring.
OCBC Bank's head of treasury research and strategy, Selena Ling, said: "With a very tight labour market and the indications that the foreign manpower constraints are going to remain in order to promote productivity growth, it looks like labour costs and some of the other cost elements, such as rentals, logistics, are going to remain fairly tight.
"I think we may not see as much relief on the inflation front in the near term, so this actually puts the April 2013 monetary policy review very likely to be on an unchanged footing at this juncture."
Policies that curb the use of foreign workers have contributed to higher wages.
At around 4-4.5 percent, headline inflation is more than double the historical average, boosted by other domestic factors like accommodation costs and car prices.
At the same time, turning off the flow of cheap manpower will continue to crimp growth -- something that is of no help to exports which are curtailed by weak global demand.
Nomura Singapore's executive director and Southeast Asia economist, Euben Paracuelles, said: "We have a relatively weak backdrop. In terms of how we see Europe, for example, it will still be a bigger recession in terms of our forecast and therefore, Europe still being a significant trading partner of Singapore, will pose a drag.
"Domestically, I think the government needs to manage this transition relatively well. There will be some tightening in domestic policies; labour policies will also be very tight, and that could lead to some weakness in overall investment spending."
Economists said it is unlikely that the Singapore government's stand on restructuring will change, despite the current macroeconomic headwinds.
This means that people will have to accept a lower level of economic growth now, for more sustainable growth in the future.
Growth is expected to come in at 1.5 percent this year, and between 1 and 3 percent in 2013, according to Singapore's Ministry of Trade and Industry.
RBS' vice president of economics research, Enrico Tanuwidjaja, said: "Singapore should be allowed to ride the volatility of slower growth, because externally, it is weak.
"Of course, we'll be sub-optimal, achieving growth below 3 percent this year and next. But after that, with a more diversified economy, not just from manufacturing but also from services, I'm pretty sure that growth will eventually edge higher."
Edge higher it might, but the restructuring currently underway may mean Singapore will have to adapt to a slower, long-term economic growth path.
- CNA/lp
- wong chee tat :)
N. Korea satellite appears dead: scientist
N. Korea satellite appears dead: scientist
Posted: 18 December 2012 0625 hrs
WASHINGTON: A satellite launched with fanfare last week by a defiant North Korea appears to be dead as no signal can be detected, a US-based astrophysicist who monitors space flights said Monday.
The United States and its Asian allies have acknowledged that North Korea succeeded Wednesday in putting an object into orbit that the communist state said was observing the Earth and airing patriotic songs.
Jonathan McDowell of the Harvard-Smithsonian Centre for Astrophysics said that the satellite was clearly in orbit but that no songs could be heard.
"To the best of our knowledge, the satellite isn't operating," he said.
"It's definitely up there and it's whizzing around, but it's just not feeling very well."
McDowell said it was unclear whether the satellite -- called the Kwangmyongsong-3 -- worked initially and that it remained possible that it was transmitting at a level too faint for detection.
But in another sign of trouble, McDowell said that the satellite was fluctuating in brightness. That means that the sun is shining at different angles and the satellite is not pointing down at the Earth as it should.
Even if not functioning, the satellite remains in orbit. The commercial site www.n2yo.com on Monday tracked the satellite as orbiting at least 505 kilometres (314 miles) above Earth, in line with North Korean statements.
"These things are hard to calculate, but roughly speaking, an object of that density at that height is going to stay up for a few years," McDowell said.
The state-run Korean Central News Agency last week quoted a scientist saying that the technology was "flawless" and that the satellite was broadcasting "Song of General Kim Il-Sung" and "Song of General Kim Jong-Il," references to the state's first two leaders.
The launch came days before the anniversary of Kim Jong-Il's death. His young son, Kim Jong-Un, succeeded him as leader of the regime, which conceded that an attempted launch in April malfunctioned.
The United States, South Korea and Japan all condemned the latest launch. Officials feared it was a veiled test for a long-range ballistic missile.
Pentagon spokesman George Little said that the United States was "still assessing" the North Korean object and that he was unaware of any danger posed.
- AFP/fa
- wong chee tat :)
Posted: 18 December 2012 0625 hrs
WASHINGTON: A satellite launched with fanfare last week by a defiant North Korea appears to be dead as no signal can be detected, a US-based astrophysicist who monitors space flights said Monday.
The United States and its Asian allies have acknowledged that North Korea succeeded Wednesday in putting an object into orbit that the communist state said was observing the Earth and airing patriotic songs.
Jonathan McDowell of the Harvard-Smithsonian Centre for Astrophysics said that the satellite was clearly in orbit but that no songs could be heard.
"To the best of our knowledge, the satellite isn't operating," he said.
"It's definitely up there and it's whizzing around, but it's just not feeling very well."
McDowell said it was unclear whether the satellite -- called the Kwangmyongsong-3 -- worked initially and that it remained possible that it was transmitting at a level too faint for detection.
But in another sign of trouble, McDowell said that the satellite was fluctuating in brightness. That means that the sun is shining at different angles and the satellite is not pointing down at the Earth as it should.
Even if not functioning, the satellite remains in orbit. The commercial site www.n2yo.com on Monday tracked the satellite as orbiting at least 505 kilometres (314 miles) above Earth, in line with North Korean statements.
"These things are hard to calculate, but roughly speaking, an object of that density at that height is going to stay up for a few years," McDowell said.
The state-run Korean Central News Agency last week quoted a scientist saying that the technology was "flawless" and that the satellite was broadcasting "Song of General Kim Il-Sung" and "Song of General Kim Jong-Il," references to the state's first two leaders.
The launch came days before the anniversary of Kim Jong-Il's death. His young son, Kim Jong-Un, succeeded him as leader of the regime, which conceded that an attempted launch in April malfunctioned.
The United States, South Korea and Japan all condemned the latest launch. Officials feared it was a veiled test for a long-range ballistic missile.
Pentagon spokesman George Little said that the United States was "still assessing" the North Korean object and that he was unaware of any danger posed.
- AFP/fa
- wong chee tat :)
New private home sales in November fall to lowest level in 2012
New private home sales in November fall to lowest level in 2012
By Lynda Hong | Posted: 17 December 2012 2240 hrs
SINGAPORE: The number of new private homes sold last month fell to the lowest level in 2012.
Excluding executive condominiums (ECs), 1,087 units were sold in November -- 44.2 percent less than in October.
It is also the second straight month of decline.
Home buyers snapped up 1,948 units in October, down 25.7 percent from 2,621 units in September.
Analysts attribute November's decline to fewer property launches.
Savills' research head, Alan Cheong, said: "We had expected much higher numbers, believing that perhaps Echelon, Senette Residences may have been launched in November but they didn't. They may be pushed to December or next year."
It is always a lull period for the property market at this time of the year as more people are travelling.
Some analysts said the latest cooling measure has kept buyers on the sidelines as they assess the impact of a shorter loan tenure on the property market.
Meanwhile, more homes were sold in the city last month.
Some 209 units were sold in the core central region -- 45 percent more than in October.
But in the city fringes, sales dipped 52.9 percent to 167 units.
Knight Frank's research head, Png Poh Soon, said: "The market had a good run up over time and most people are wondering where it will be, going forward. Of course, buyers are also looking around for bargain buys. And we have observed that the resale volume has increased and prices have gone up from the retail side."
Low interest rates and volatile markets have pushed many investors to seek refuge in property.
2012 would likely be a record year for the number of new private homes sold.
Up till November, 20,879 new units have been sold, breaking the previous record when 16,292 units were sold for the entire 2010.
Looking ahead, most analysts expect the healthy market demand to continue and prices to stay firm.
- CNA/lp
- wong chee tat :)
By Lynda Hong | Posted: 17 December 2012 2240 hrs
SINGAPORE: The number of new private homes sold last month fell to the lowest level in 2012.
Excluding executive condominiums (ECs), 1,087 units were sold in November -- 44.2 percent less than in October.
It is also the second straight month of decline.
Home buyers snapped up 1,948 units in October, down 25.7 percent from 2,621 units in September.
Analysts attribute November's decline to fewer property launches.
Savills' research head, Alan Cheong, said: "We had expected much higher numbers, believing that perhaps Echelon, Senette Residences may have been launched in November but they didn't. They may be pushed to December or next year."
It is always a lull period for the property market at this time of the year as more people are travelling.
Some analysts said the latest cooling measure has kept buyers on the sidelines as they assess the impact of a shorter loan tenure on the property market.
Meanwhile, more homes were sold in the city last month.
Some 209 units were sold in the core central region -- 45 percent more than in October.
But in the city fringes, sales dipped 52.9 percent to 167 units.
Knight Frank's research head, Png Poh Soon, said: "The market had a good run up over time and most people are wondering where it will be, going forward. Of course, buyers are also looking around for bargain buys. And we have observed that the resale volume has increased and prices have gone up from the retail side."
Low interest rates and volatile markets have pushed many investors to seek refuge in property.
2012 would likely be a record year for the number of new private homes sold.
Up till November, 20,879 new units have been sold, breaking the previous record when 16,292 units were sold for the entire 2010.
Looking ahead, most analysts expect the healthy market demand to continue and prices to stay firm.
- CNA/lp
- wong chee tat :)
Flat to low-single-digit growth for S'pore telcos in 2013: analysts
Flat to low-single-digit growth for S'pore telcos in 2013: analysts
By Thomas Cho | Posted: 17 December 2012 1831 hrs
SINGAPORE: The three main telco operators in Singapore will have a tough year ahead as analysts expect flat to low-single-digit revenue growth, despite the rollout of the high speed 4G network.
The telcos face slowing industry-wide growth and loss of sales in core voice and data markets as their hip, young, internet-based competitors offering free services are stealing market share.
Yet, digital and mobile is where Singapore's biggest telco is placing its biggest bet on.
SingTel's group CEO, Chua Sock Koong, said: "Growing the top line would involve better monetisation of mobile data, which is a fast growing area, (and) looking at new revenue sources -- that's where our investments in a lot of digital life investments will come true."
According to the International Data Corporation (IDC), vendors will ship more than 1.7 billion mobile phones globally this year.
But the long queues for new releases of smartphones like iPhone 5 and Samsung Galaxy Note 2 do not immediately translate into higher revenue for SingTel, StarHub and M1.
OCBC Research's senior research manager, Carey Wong, said: "Singapore's penetration rate is already close to 150 percent. It is a very mature market. Any raise in ARPU (Average Revenue Per User) would probably take some time to flow through.
"We are also seeing a little bit of subscriber growth since the penetration is so high. We think low single-digit is probably correct for such mature market."
New revenue may come from the telcos moving into content and infrastructure and may also tap upstream customers like government agencies and corporations.
Standard Chartered Bank's director of technology and global equity research, Don See, said: "We need to see telcos demonstrate willingness to be more entrepreneurial -- to try out new things and to actually have a more bigger willingness to step away from their legacy business to capture some of these growth opportunities."
StarHub has been the outperformer in 2012 with its shares up by 33 percent.
SingTel and M1 have both climbed about 10 percent.
- CNA/lp
- wong chee tat :)
By Thomas Cho | Posted: 17 December 2012 1831 hrs
SINGAPORE: The three main telco operators in Singapore will have a tough year ahead as analysts expect flat to low-single-digit revenue growth, despite the rollout of the high speed 4G network.
The telcos face slowing industry-wide growth and loss of sales in core voice and data markets as their hip, young, internet-based competitors offering free services are stealing market share.
Yet, digital and mobile is where Singapore's biggest telco is placing its biggest bet on.
SingTel's group CEO, Chua Sock Koong, said: "Growing the top line would involve better monetisation of mobile data, which is a fast growing area, (and) looking at new revenue sources -- that's where our investments in a lot of digital life investments will come true."
According to the International Data Corporation (IDC), vendors will ship more than 1.7 billion mobile phones globally this year.
But the long queues for new releases of smartphones like iPhone 5 and Samsung Galaxy Note 2 do not immediately translate into higher revenue for SingTel, StarHub and M1.
OCBC Research's senior research manager, Carey Wong, said: "Singapore's penetration rate is already close to 150 percent. It is a very mature market. Any raise in ARPU (Average Revenue Per User) would probably take some time to flow through.
"We are also seeing a little bit of subscriber growth since the penetration is so high. We think low single-digit is probably correct for such mature market."
New revenue may come from the telcos moving into content and infrastructure and may also tap upstream customers like government agencies and corporations.
Standard Chartered Bank's director of technology and global equity research, Don See, said: "We need to see telcos demonstrate willingness to be more entrepreneurial -- to try out new things and to actually have a more bigger willingness to step away from their legacy business to capture some of these growth opportunities."
StarHub has been the outperformer in 2012 with its shares up by 33 percent.
SingTel and M1 have both climbed about 10 percent.
- CNA/lp
- wong chee tat :)
Aljunied-Hougang town council could have asked for service extension: IT firm
Aljunied-Hougang town council could have asked for service extension: IT firm
Posted: 17 December 2012 2303 hrs
SINGAPORE: The company which provided the computer and financial systems to Aljunied-Hougang town council, has spoken up on its termination of services for the council.
Last Friday, the Aljunied-Hougang town council said the termination was one reason its corporate governance audit was delayed.
In a letter to the media, Action Information Management Pte Ltd (AIM) said it had extended its services to the town council twice, in August and September last year.
AIM's chairman S Chandra Das said the company would have agreed to a further extension, if the town council had requested for it.
When contacted, council chairman Sylvia Lim said they understood that no further extensions would be forthcoming at the time.
She also questioned why AIM terminated its services in the first place.
- CNA/lp
- wong chee tat :)
Posted: 17 December 2012 2303 hrs
SINGAPORE: The company which provided the computer and financial systems to Aljunied-Hougang town council, has spoken up on its termination of services for the council.
Last Friday, the Aljunied-Hougang town council said the termination was one reason its corporate governance audit was delayed.
In a letter to the media, Action Information Management Pte Ltd (AIM) said it had extended its services to the town council twice, in August and September last year.
AIM's chairman S Chandra Das said the company would have agreed to a further extension, if the town council had requested for it.
When contacted, council chairman Sylvia Lim said they understood that no further extensions would be forthcoming at the time.
She also questioned why AIM terminated its services in the first place.
- CNA/lp
- wong chee tat :)
Bukit Panjang experiments with new bus stop queuing system
Bukit Panjang experiments with new bus stop queuing system
By Dylan Loh | Posted: 17 December 2012 2308 hrs
SINGAPORE: With its interchange closed for redevelopment, Bukit Panjang is experimenting with a new queuing system at one bus stop.
If the trial proves successful, the system may be introduced at more stops in the area.
The move involves converting a stop into a mini-interchange, with queue lines marked on the ground for designated bus services.
Six services departing from the previous interchange have been shifted to the stop, prompting some residents to complain that the stop is overcrowded.
The bus stop on the other side of the road has been widened into a bay to allow more services to simultaneously pick up passengers.
Environment and Water Resources Minister Dr Vivian Balakrishnan, who is MP for the ward, said: "Bukit Panjang is a very dense town, and during peak hours, not only the buses, but the cars also get stuck in jams so we have to make sure that everything works as smoothly as possible".
The Bukit Panjang bus interchange is being converted into an air-conditioned interchange that will be ready in 2015.
- CNA/jc
- wong chee tat :)
By Dylan Loh | Posted: 17 December 2012 2308 hrs
SINGAPORE: With its interchange closed for redevelopment, Bukit Panjang is experimenting with a new queuing system at one bus stop.
If the trial proves successful, the system may be introduced at more stops in the area.
The move involves converting a stop into a mini-interchange, with queue lines marked on the ground for designated bus services.
Six services departing from the previous interchange have been shifted to the stop, prompting some residents to complain that the stop is overcrowded.
The bus stop on the other side of the road has been widened into a bay to allow more services to simultaneously pick up passengers.
Environment and Water Resources Minister Dr Vivian Balakrishnan, who is MP for the ward, said: "Bukit Panjang is a very dense town, and during peak hours, not only the buses, but the cars also get stuck in jams so we have to make sure that everything works as smoothly as possible".
The Bukit Panjang bus interchange is being converted into an air-conditioned interchange that will be ready in 2015.
- CNA/jc
- wong chee tat :)
Notes
Notes:
mopping
chemical for mopping
check for rubbish
wash / rinse / sanitize and hot water / warm water and chemical where appropriate
wash hands
type of chemical for washing hands
scrub for how long
stocks stored how high above floor
fifo, why practise fifo?
freezer, chiller temp & storage types
cooked food and raw food storage
3 types of cloths (red / blue / green) and usage
- wong chee tat :)
mopping
chemical for mopping
check for rubbish
wash / rinse / sanitize and hot water / warm water and chemical where appropriate
wash hands
type of chemical for washing hands
scrub for how long
stocks stored how high above floor
fifo, why practise fifo?
freezer, chiller temp & storage types
cooked food and raw food storage
3 types of cloths (red / blue / green) and usage
- wong chee tat :)
Monday, December 17, 2012
Zhongshan Park to boost tourism in Balestier
Zhongshan Park to boost tourism in Balestier
By Lip Kwok Wai, Melissa Chong | Posted: 15 December 2012 2328 hrs
SINGAPORE: The Balestier area is set to get a boost from the new Zhongshan Park development.
The project, which boasts two hotels, a mall and an office tower, is almost complete.
The project is a stroll away from the Sun Yat Sen Memorial Hall and is expected to boost tourism in the area.
70 per cent of the retail space has already been rented out.
The development will be ready by March next year.
- CNA/xq
- wong chee tat :)
By Lip Kwok Wai, Melissa Chong | Posted: 15 December 2012 2328 hrs
SINGAPORE: The Balestier area is set to get a boost from the new Zhongshan Park development.
The project, which boasts two hotels, a mall and an office tower, is almost complete.
The project is a stroll away from the Sun Yat Sen Memorial Hall and is expected to boost tourism in the area.
70 per cent of the retail space has already been rented out.
The development will be ready by March next year.
- CNA/xq
- wong chee tat :)
New world records set at indoor skydiving event
New world records set at indoor skydiving event
By Alice Chia | Posted: 16 December 2012 2326 hrs
SINGAPORE: Several Guinness World Records were set and broken by international teams on the last day of the iFly Singapore Indoor Skydiving World Championships on Sunday.
The competition featured over 400 competitors and participants from over 10 countries, including the USA national team.
In an attempt to set the record for the most number of people flying at one time in a wind tunnel, 18 flyers got in belly-flight positions, for over 10 seconds.
There is no existing official record at the moment.
Mikhail Razomazov from Russia did 52 backward somersaults in one minute - smashing the current record of 16 somersaults.
A new record was also set for the most number of children flying in a wind tunnel, with 13 children from Dubai and Singapore flying hand-in-hand.
In another attempt, 28 year-old Ezriel Shah Rahmat broke the record for the longest indoor freefall.
The iFly Singapore instructor was in the air for four hours, 2 minutes and 12 seconds.
The current record stands at 3 hours, 1 minute and 46 seconds. It was achieved by Matthew Freese from USA at iFly Hollywood in California on 8 May 2012.
- CNA/xq
- wong chee tat :)
By Alice Chia | Posted: 16 December 2012 2326 hrs
SINGAPORE: Several Guinness World Records were set and broken by international teams on the last day of the iFly Singapore Indoor Skydiving World Championships on Sunday.
The competition featured over 400 competitors and participants from over 10 countries, including the USA national team.
In an attempt to set the record for the most number of people flying at one time in a wind tunnel, 18 flyers got in belly-flight positions, for over 10 seconds.
There is no existing official record at the moment.
Mikhail Razomazov from Russia did 52 backward somersaults in one minute - smashing the current record of 16 somersaults.
A new record was also set for the most number of children flying in a wind tunnel, with 13 children from Dubai and Singapore flying hand-in-hand.
In another attempt, 28 year-old Ezriel Shah Rahmat broke the record for the longest indoor freefall.
The iFly Singapore instructor was in the air for four hours, 2 minutes and 12 seconds.
The current record stands at 3 hours, 1 minute and 46 seconds. It was achieved by Matthew Freese from USA at iFly Hollywood in California on 8 May 2012.
- CNA/xq
- wong chee tat :)
Resolution of stalled upgrading works at Rivervale Plaza one key priority: DPM
Resolution of stalled upgrading works at Rivervale Plaza one key priority: DPM
By Melissa Chong | Posted: 16 December 2012 1658 hrs
SINGAPORE: Deputy Prime Minister Teo Chee Hean has said that one of the priorities he wants to tackle for Punggol East residents is the resolution of upgrading works at Rivervale Plaza.
Works there have been delayed because the contractor has gone bust.
Mr Teo, who is also the anchor minister for Pasir Ris-Punggol GRC, was speaking to reporters on the sidelines of a community event on Sunday.
The Deepavali celebration is the second community event Mr Teo attended over the weekend, following the resignation of Punggol East MP Michael Palmer over an extramarital affair.
Mr Teo noted that one of the concerns of residents is the upgrading works at Rivervale.
He said his team of MPs will continue discussions, started by Mr Palmer, with the Housing and Development Board, residents and shop owners, to resolve the problem.
Mayor Teo Ser Luck has been appointed caretaker MP for Punggol East.
Mr Teo Chee Hean said: "We've always looked after the residents (of Punggol East) as a larger Pasir Ris-Punggol family. So I know quite a lot of the grassroots leaders here. I've been here many times also, with Mr Teo Ser Luck as well. So we will continue looking after residents."
DPM Teo has said he will attend the ward's Meet-the-People session on Monday night.
- CNA/ir
- wong chee tat :)
By Melissa Chong | Posted: 16 December 2012 1658 hrs
SINGAPORE: Deputy Prime Minister Teo Chee Hean has said that one of the priorities he wants to tackle for Punggol East residents is the resolution of upgrading works at Rivervale Plaza.
Works there have been delayed because the contractor has gone bust.
Mr Teo, who is also the anchor minister for Pasir Ris-Punggol GRC, was speaking to reporters on the sidelines of a community event on Sunday.
The Deepavali celebration is the second community event Mr Teo attended over the weekend, following the resignation of Punggol East MP Michael Palmer over an extramarital affair.
Mr Teo noted that one of the concerns of residents is the upgrading works at Rivervale.
He said his team of MPs will continue discussions, started by Mr Palmer, with the Housing and Development Board, residents and shop owners, to resolve the problem.
Mayor Teo Ser Luck has been appointed caretaker MP for Punggol East.
Mr Teo Chee Hean said: "We've always looked after the residents (of Punggol East) as a larger Pasir Ris-Punggol family. So I know quite a lot of the grassroots leaders here. I've been here many times also, with Mr Teo Ser Luck as well. So we will continue looking after residents."
DPM Teo has said he will attend the ward's Meet-the-People session on Monday night.
- CNA/ir
- wong chee tat :)
First all-male national conversation session held at coffee shop
First all-male national conversation session held at coffee shop
By Leong Wai Kit | Posted: 16 December 2012 1709 hrs
SINGAPORE: A national conversation session for men aged between 45 and 60 years was held on Sunday at a coffee shop in Tampines.
About 40 men turned up for the session, led by Member of Parliament Baey Yam Keng and organised by the Tampines GRC Grassroots Organisations (GROs).
It was the first all-male national conversation session.
When asked why he had turned up for the session, 58-year-old Raymond Tan said: "To contribute whatever we can, to ensure that in the next couple of years or later on, Singaporeans can live happily and healthily."
The session is part of the GRO's effort to engage different segments of the population in the ongoing "Our Singapore Conversation".
All were welcome to contribute - even those who do not belong the age group, like 31-year-old Elvin Goh.
"Definitely, (the discussions) can't change everything, but I'm quite certain that all these will be put into consideration when it comes to policy writing," said Mr Goh.
Mr Baey said he has seen many men in coffee shops, engaged in a wide range of conversation topics.
He added that he discussed with Minister for Education Heng Swee Keat, who steers the national conversation initiative, for specific discussion groups to be set up.
Mr Baey said the session was held in a coffee shop so that the participants could be in their "vocal coffee shop-talk mood".
Among the topics discussed were cost of living, medical and housing expenses.
The discussion revealed that the participants seemed to have more similarities than differences.
Mr Baey said: "They still have very traditional values, about caring for their families, taking care of their parents, and they feel sandwiched. And some of them are not able to keep up with the pace of the development of the country, and hence, they feel trapped. But at the same time, they do not want to burden their children."
Organisers plan to hold another session with homemakers in January next year.
- CNA/xq
- wong chee tat :)
By Leong Wai Kit | Posted: 16 December 2012 1709 hrs
SINGAPORE: A national conversation session for men aged between 45 and 60 years was held on Sunday at a coffee shop in Tampines.
About 40 men turned up for the session, led by Member of Parliament Baey Yam Keng and organised by the Tampines GRC Grassroots Organisations (GROs).
It was the first all-male national conversation session.
When asked why he had turned up for the session, 58-year-old Raymond Tan said: "To contribute whatever we can, to ensure that in the next couple of years or later on, Singaporeans can live happily and healthily."
The session is part of the GRO's effort to engage different segments of the population in the ongoing "Our Singapore Conversation".
All were welcome to contribute - even those who do not belong the age group, like 31-year-old Elvin Goh.
"Definitely, (the discussions) can't change everything, but I'm quite certain that all these will be put into consideration when it comes to policy writing," said Mr Goh.
Mr Baey said he has seen many men in coffee shops, engaged in a wide range of conversation topics.
He added that he discussed with Minister for Education Heng Swee Keat, who steers the national conversation initiative, for specific discussion groups to be set up.
Mr Baey said the session was held in a coffee shop so that the participants could be in their "vocal coffee shop-talk mood".
Among the topics discussed were cost of living, medical and housing expenses.
The discussion revealed that the participants seemed to have more similarities than differences.
Mr Baey said: "They still have very traditional values, about caring for their families, taking care of their parents, and they feel sandwiched. And some of them are not able to keep up with the pace of the development of the country, and hence, they feel trapped. But at the same time, they do not want to burden their children."
Organisers plan to hold another session with homemakers in January next year.
- CNA/xq
- wong chee tat :)
Sunday, December 16, 2012
"Tornado" sighted at Pasir Panjang
"Tornado" sighted at Pasir Panjang
By Kimberly Spykerman | Posted: 15 December 2012 2050 hrs
SINGAPORE: A "tornado" at Pasir Panjang on Saturday left some residents startled.
The winds were so strong that it caused some of the zinc slats on the roof of Pasir Panjang ferry terminal to dislodge and fly off.
Employees at the terminal said no one was injured.
The "tornado" was in fact a waterspout, which is caused by intense thunderstorms, and is formed when columns of water are sucked to the base of the clouds.
Julie Beattie, whose home overlooks the ferry terminal, sent in video footage of the weather phenomenon to Channel NewsAsia.
"I felt the wind start to pick up and went to close the balcony doors, and then noticed this swirling motion of water, and I thought, what is this?" she said.
"I was glued to it, it started getting stronger... I thought this (was) a mini tornado."
The National Environment Agency (NEA) said an average of three occurrences of waterspouts over Singapore waters are reported every year.
NEA added that waterspouts tend to have a short life cycle of up to tens of minutes and they usually dissipate rapidly upon reaching the coast.
They also noted waterspouts are generally associated with intense thunderstorms over the sea.
However, it is difficult to forecast the occurrence of waterspouts because not all thunderstorms lead to the formation of waterspouts.
- CNA/xq
- wong chee tat :)
By Kimberly Spykerman | Posted: 15 December 2012 2050 hrs
SINGAPORE: A "tornado" at Pasir Panjang on Saturday left some residents startled.
The winds were so strong that it caused some of the zinc slats on the roof of Pasir Panjang ferry terminal to dislodge and fly off.
Employees at the terminal said no one was injured.
The "tornado" was in fact a waterspout, which is caused by intense thunderstorms, and is formed when columns of water are sucked to the base of the clouds.
Julie Beattie, whose home overlooks the ferry terminal, sent in video footage of the weather phenomenon to Channel NewsAsia.
"I felt the wind start to pick up and went to close the balcony doors, and then noticed this swirling motion of water, and I thought, what is this?" she said.
"I was glued to it, it started getting stronger... I thought this (was) a mini tornado."
The National Environment Agency (NEA) said an average of three occurrences of waterspouts over Singapore waters are reported every year.
NEA added that waterspouts tend to have a short life cycle of up to tens of minutes and they usually dissipate rapidly upon reaching the coast.
They also noted waterspouts are generally associated with intense thunderstorms over the sea.
However, it is difficult to forecast the occurrence of waterspouts because not all thunderstorms lead to the formation of waterspouts.
- CNA/xq
- wong chee tat :)
Saturday, December 15, 2012
Rate of faulty trains pulled out of service continues to drop: LTA, SMRT
Rate of faulty trains pulled out of service continues to drop: LTA, SMRT
By Hetty Musfirah | Posted: 14 December 2012 2017 hrs
SINGAPORE: The Land Transport Authority (LTA) and SMRT said the rate of faulty trains pulled out of service dropped to 2.6 (per 100,000 km) in the last six months, from 3.2 last year.
In a joint statement, they said they are on track to meet the 30 percent reduction in withdrawal rate of 2.1 for next year.
From January next year, SMRT will retrofit two North South East West Line (NSEWL) trains with sensors to improve the timely detection of third rail sags.
These displacement sensors can detect abnormalities so that they can be rectified immediately.
LTA added that it has stepped up its audits on the public transport operators' (PTO) maintenance systems and processes even as SMRT adopts more condition monitoring and strengthens predictive maintenance.
To further boost train safety and reliability, LTA and SMRT will engage an independent consultant every three years to review and enhance its asset maintenance.
An independent consultancy study on its asset management framework will also be done and completed in the second quarter of next year.
With regards to improving emergency response, LTA has been conducting random surprise audits at train stations to ensure PTO duty officers are adequately prepared to deal with train service disruptions and are familiar with their incident management roles and responsibilities.
- CNA/lp
- wong chee tat :)
By Hetty Musfirah | Posted: 14 December 2012 2017 hrs
SINGAPORE: The Land Transport Authority (LTA) and SMRT said the rate of faulty trains pulled out of service dropped to 2.6 (per 100,000 km) in the last six months, from 3.2 last year.
In a joint statement, they said they are on track to meet the 30 percent reduction in withdrawal rate of 2.1 for next year.
From January next year, SMRT will retrofit two North South East West Line (NSEWL) trains with sensors to improve the timely detection of third rail sags.
These displacement sensors can detect abnormalities so that they can be rectified immediately.
LTA added that it has stepped up its audits on the public transport operators' (PTO) maintenance systems and processes even as SMRT adopts more condition monitoring and strengthens predictive maintenance.
To further boost train safety and reliability, LTA and SMRT will engage an independent consultant every three years to review and enhance its asset maintenance.
An independent consultancy study on its asset management framework will also be done and completed in the second quarter of next year.
With regards to improving emergency response, LTA has been conducting random surprise audits at train stations to ensure PTO duty officers are adequately prepared to deal with train service disruptions and are familiar with their incident management roles and responsibilities.
- CNA/lp
- wong chee tat :)
Increase in BTO flats stretches contractors' resources
Increase in BTO flats stretches contractors' resources
By Olivia Siong | Posted: 14 December 2012 1903 hrs
SINGAPORE: Contractors say resources are being stretched following the move to increase the supply of Build-To-Order flats in the last two years.
But they said this has driven them to be more productive.
The Housing and Development Board (HDB) said it is also working closely with contractors to ensure that they deliver their projects on time, if not earlier.
More than 27,000 Build-To-Order flats were launched this year - a record for the HDB and also a record number for contractors to build.
And there are some challenges involved.
Mr Derick Pay, Director of Tiong Seng Contractors, said: "With the man-year entitlement cut, especially the shortage of labour and subcontractors, in a way we are being driven to improve our productivity. You don't have enough workers to work to construct the project as per normal construction methods. With that we have to use a system that does not rely on skilled workers, and more so that does not rely on so many workers at all."
For construction to be carried out in this way, mechanisation is being promoted.
For example, only two workers are now needed to operate lifts, making it easier to work at high levels compared to the manpower needed to set up scaffolds or gondolas.
HDB has also encouraged the use of such equipment in its projects tendered since May this year.
A partition wall system to build internal walls is also being used. It makes construction about five times faster than using bricks.
Improving productivity also means making good use of resources. For example, a driveway can be made by using pre-fabricated concrete and each concrete slab can be easily transported to project sites.
This is also part of HDB's effort to get more contractors to adopt more green construction practices.
An automated washing system using recycled water also cuts cleaning time from 20 minutes to just five.
But it's not just about ramping up quantity. HDB said quality can also be assured.
Mr Lim Chuen Huei, Deputy Director of Development and Construction Productivity at HDB, said: "We implemented a stringent quality management system, and working together with the contractors, and we have adopted CONQUAS scoring system that is administrated by BCA. CONQUAS is a measurement of quality for both private and public projects. And we'll continue to ensure a high CONQUAS score."
And HDB hopes to increase productivity by 20 per cent by 2020.
- CNA/de
- wong chee tat :)
By Olivia Siong | Posted: 14 December 2012 1903 hrs
SINGAPORE: Contractors say resources are being stretched following the move to increase the supply of Build-To-Order flats in the last two years.
But they said this has driven them to be more productive.
The Housing and Development Board (HDB) said it is also working closely with contractors to ensure that they deliver their projects on time, if not earlier.
More than 27,000 Build-To-Order flats were launched this year - a record for the HDB and also a record number for contractors to build.
And there are some challenges involved.
Mr Derick Pay, Director of Tiong Seng Contractors, said: "With the man-year entitlement cut, especially the shortage of labour and subcontractors, in a way we are being driven to improve our productivity. You don't have enough workers to work to construct the project as per normal construction methods. With that we have to use a system that does not rely on skilled workers, and more so that does not rely on so many workers at all."
For construction to be carried out in this way, mechanisation is being promoted.
For example, only two workers are now needed to operate lifts, making it easier to work at high levels compared to the manpower needed to set up scaffolds or gondolas.
HDB has also encouraged the use of such equipment in its projects tendered since May this year.
A partition wall system to build internal walls is also being used. It makes construction about five times faster than using bricks.
Improving productivity also means making good use of resources. For example, a driveway can be made by using pre-fabricated concrete and each concrete slab can be easily transported to project sites.
This is also part of HDB's effort to get more contractors to adopt more green construction practices.
An automated washing system using recycled water also cuts cleaning time from 20 minutes to just five.
But it's not just about ramping up quantity. HDB said quality can also be assured.
Mr Lim Chuen Huei, Deputy Director of Development and Construction Productivity at HDB, said: "We implemented a stringent quality management system, and working together with the contractors, and we have adopted CONQUAS scoring system that is administrated by BCA. CONQUAS is a measurement of quality for both private and public projects. And we'll continue to ensure a high CONQUAS score."
And HDB hopes to increase productivity by 20 per cent by 2020.
- CNA/de
- wong chee tat :)
Sec 1 posting results to be released on 19 Dec 2012
Sec 1 posting results to be released on 19 Dec 2012
Posted: 14 December 2012 1529 hrs
SINGAPORE: The Secondary One posting results will be released next Wednesday at 9:00am.
In a statement, the Education Ministry said students are to report to the secondary schools that they have been posted to on 20 December 2012 at 8:30am.
It said parents and students can check the posting results through Short Messaging System (SMS) text messaging, if they have provided a local mobile phone number during the submission of the student's school choices.
They can also check the results at the Education Ministry's website (www.moe.gov.sg/education/admissions/secondary-oneposting), or with the student's primary school.
For enquiries, parents can call the MOE Customer Service Centre at 6872 2220 during office hours.
- CNA/xq
- wong chee tat :)
Posted: 14 December 2012 1529 hrs
SINGAPORE: The Secondary One posting results will be released next Wednesday at 9:00am.
In a statement, the Education Ministry said students are to report to the secondary schools that they have been posted to on 20 December 2012 at 8:30am.
It said parents and students can check the posting results through Short Messaging System (SMS) text messaging, if they have provided a local mobile phone number during the submission of the student's school choices.
They can also check the results at the Education Ministry's website (www.moe.gov.sg/education/admissions/secondary-oneposting), or with the student's primary school.
For enquiries, parents can call the MOE Customer Service Centre at 6872 2220 during office hours.
- CNA/xq
- wong chee tat :)
Friday, December 14, 2012
More private homes expected under govt land sales programme
More private homes expected under govt land sales programme
By Wong Siew Ying | Posted: 14 December 2012 1141 hrs
SINGAPORE: Singapore will make available for sale sufficient land to build about 14,000 private homes in the first half of next year, the government said on Friday.
The Ministry of National Development (MND) said this as it unveiled the Government Land Sales Programme for the first half of 2013 (1H2013).
There will be 12 private residential sites, including five executive condominium (EC) sites, and one site for a mixed commercial and residential development on the Confirmed List.
These sites can yield about 6,900 private residential units, including 3,100 EC units and 33,000 square metre gross floor area (GFA) of commercial space.
MND said most of the private residential sites, including the five EC sites, are located in the suburban areas or in the city fringe where more affordable private housing is expected to be built.
In addition to the sites on the Confirmed List, MND said 19 sites will be available under the 1H2013 Reserve List.
These include 11 private residential sites, one commercial and residential site, two commercial sites, one "white" site and four hotel sites.
"White" sites are those which developers are allowed to decide on a mix of uses for the site and respective quantum of floor space for each use, as long as the total permissible GFA for the whole development is not exceeded.
Sites on the Reserve List can yield about 7,100 private residential units, 281,000 square metre GFA of commercial space and 1,740 hotel rooms.
In all, the programme is expected to yield about 14,000 private residential units, including 3,100 EC units.
- CNA/xq/ir
- wong chee tat :)
By Wong Siew Ying | Posted: 14 December 2012 1141 hrs
SINGAPORE: Singapore will make available for sale sufficient land to build about 14,000 private homes in the first half of next year, the government said on Friday.
The Ministry of National Development (MND) said this as it unveiled the Government Land Sales Programme for the first half of 2013 (1H2013).
There will be 12 private residential sites, including five executive condominium (EC) sites, and one site for a mixed commercial and residential development on the Confirmed List.
These sites can yield about 6,900 private residential units, including 3,100 EC units and 33,000 square metre gross floor area (GFA) of commercial space.
MND said most of the private residential sites, including the five EC sites, are located in the suburban areas or in the city fringe where more affordable private housing is expected to be built.
In addition to the sites on the Confirmed List, MND said 19 sites will be available under the 1H2013 Reserve List.
These include 11 private residential sites, one commercial and residential site, two commercial sites, one "white" site and four hotel sites.
"White" sites are those which developers are allowed to decide on a mix of uses for the site and respective quantum of floor space for each use, as long as the total permissible GFA for the whole development is not exceeded.
Sites on the Reserve List can yield about 7,100 private residential units, 281,000 square metre GFA of commercial space and 1,740 hotel rooms.
In all, the programme is expected to yield about 14,000 private residential units, including 3,100 EC units.
- CNA/xq/ir
- wong chee tat :)
More Supplementary Retirement Scheme accounts opened at year-end
More Supplementary Retirement Scheme accounts opened at year-end
By Linette Lim | Posted: 13 December 2012 1928 hrs
SINGAPORE: More Supplementary Retirement Scheme (SRS) accounts are opened in the month of December each year, according to banks in Singapore.
The SRS is a voluntary savings scheme and administered by three local banks.
OCBC Bank said SRS account openings this month can be more than five times that of other months.
As the year comes to a close, financial advisors said more clients are topping up SRS accounts in order to qualify for tax savings.
Launched by the government in 2001, the scheme encourages people to put aside money for their retirement. This is over and above what they have in their mandatory CPF accounts.
The money can only be withdrawn at retirement age, which currently stands at 62, but only half of it will be taxed upon withdrawal.
Wong Sui Jau, General Manager of Fundsupermart.com, said: "It works based on a deferred tax scheme, so for monies that you actually put into the SRS, it will not count towards your chargeable income. I think the biggest benefits is for people in high-income tax brackets, because it allows them to reduce their chargeable income for tax."
The number of SRS account holders is growing at above 10 per cent each year since the scheme began.
The take-up rate for the scheme is modest, relative to the size of the taxable population.
There are more than a million taxable individuals in Singapore as at 2010, according to official statistics.
However, not everyone pays tax as their income could be too low.
Assuming only those with an annual income above $40,000 pays tax, there are around 720,000 tax-paying individuals. Out of this, only slightly more than 70,000 are SRS account holders.
This means only 10 per cent of people who are eligible to open an SRS account have done so.
Wong Sui Jau added: "SRS is not like your CPF ordinary account or special account where you have special interest rates you will receive. The interest rate is no different from what you get if you put it in a bank which almost definitely mean you will really need to invest it because this is money that is going to be locked up for the long term."
Money in SRS accounts can be used to invest in stocks and insurance, and the investment returns are accumulated tax-free.
Still, experts say the SRS is not for everyone. For example, it may not be appropriate for those with many dependents under their charge.
Chew Hock Beng, Associate Director of Financial Advisory Group, Financial Alliance, said: "They probably have to take care of four parents for a married couple, and two to three kids, so a lot of money have been used for expenses."
According to DBS, SRS contributors should make sure that they have adequate disposable income and emergency funds, because premature withdrawals will incur a 5 per cent penalty and will be 100 per cent taxed.
- CNA/de
- wong chee tat :)
By Linette Lim | Posted: 13 December 2012 1928 hrs
SINGAPORE: More Supplementary Retirement Scheme (SRS) accounts are opened in the month of December each year, according to banks in Singapore.
The SRS is a voluntary savings scheme and administered by three local banks.
OCBC Bank said SRS account openings this month can be more than five times that of other months.
As the year comes to a close, financial advisors said more clients are topping up SRS accounts in order to qualify for tax savings.
Launched by the government in 2001, the scheme encourages people to put aside money for their retirement. This is over and above what they have in their mandatory CPF accounts.
The money can only be withdrawn at retirement age, which currently stands at 62, but only half of it will be taxed upon withdrawal.
Wong Sui Jau, General Manager of Fundsupermart.com, said: "It works based on a deferred tax scheme, so for monies that you actually put into the SRS, it will not count towards your chargeable income. I think the biggest benefits is for people in high-income tax brackets, because it allows them to reduce their chargeable income for tax."
The number of SRS account holders is growing at above 10 per cent each year since the scheme began.
The take-up rate for the scheme is modest, relative to the size of the taxable population.
There are more than a million taxable individuals in Singapore as at 2010, according to official statistics.
However, not everyone pays tax as their income could be too low.
Assuming only those with an annual income above $40,000 pays tax, there are around 720,000 tax-paying individuals. Out of this, only slightly more than 70,000 are SRS account holders.
This means only 10 per cent of people who are eligible to open an SRS account have done so.
Wong Sui Jau added: "SRS is not like your CPF ordinary account or special account where you have special interest rates you will receive. The interest rate is no different from what you get if you put it in a bank which almost definitely mean you will really need to invest it because this is money that is going to be locked up for the long term."
Money in SRS accounts can be used to invest in stocks and insurance, and the investment returns are accumulated tax-free.
Still, experts say the SRS is not for everyone. For example, it may not be appropriate for those with many dependents under their charge.
Chew Hock Beng, Associate Director of Financial Advisory Group, Financial Alliance, said: "They probably have to take care of four parents for a married couple, and two to three kids, so a lot of money have been used for expenses."
According to DBS, SRS contributors should make sure that they have adequate disposable income and emergency funds, because premature withdrawals will incur a 5 per cent penalty and will be 100 per cent taxed.
- CNA/de
- wong chee tat :)
Land parcel in Sembawang receives top bid of S$211.9m
Land parcel in Sembawang receives top bid of S$211.9m
By Millet Enriquez | Posted: 13 December 2012 2126 hrs
SINGAPORE: The tender for a land parcel located at Sembawang Crescent/Sembawang Drive closed on Thursday with a top bid of $211.92 million.
The site, measuring 21,718.4 square metres, received a total of eight bids.
In a statement, the Housing and Development Board (HDB) said the top bid came from boutique developer JBE Holdings, while the second highest bid of S$210.1 million was handed in by FCL Place Pte. Ltd. and Hytech Builders.
Meanwhile, two joint bidders submitted the third highest tender price of S$208.5 million. They were Master Contract Services Pte Ltd & Keong Hong Construction and Peak Square Pte. Ltd. & Low Keng Huat (Singapore) Limited.
The lowest bid of S$184 million came from Mezzo Development.
The site can be developed into an executive condominium housing with around 650 units. It has a maximum gross floor area of 60,811.52 square metres and gross plot ratio of 2.8. The lease term is 99 years.
HDB said the decision on the tender award will be announced at a later date after the bids have been evaluated.
- CNA/de
- wong chee tat :)
By Millet Enriquez | Posted: 13 December 2012 2126 hrs
SINGAPORE: The tender for a land parcel located at Sembawang Crescent/Sembawang Drive closed on Thursday with a top bid of $211.92 million.
The site, measuring 21,718.4 square metres, received a total of eight bids.
In a statement, the Housing and Development Board (HDB) said the top bid came from boutique developer JBE Holdings, while the second highest bid of S$210.1 million was handed in by FCL Place Pte. Ltd. and Hytech Builders.
Meanwhile, two joint bidders submitted the third highest tender price of S$208.5 million. They were Master Contract Services Pte Ltd & Keong Hong Construction and Peak Square Pte. Ltd. & Low Keng Huat (Singapore) Limited.
The lowest bid of S$184 million came from Mezzo Development.
The site can be developed into an executive condominium housing with around 650 units. It has a maximum gross floor area of 60,811.52 square metres and gross plot ratio of 2.8. The lease term is 99 years.
HDB said the decision on the tender award will be announced at a later date after the bids have been evaluated.
- CNA/de
- wong chee tat :)
Number of licensed moneylenders falls 16% after stricter advertising rules
Number of licensed moneylenders falls 16% after stricter advertising rules
By Lian Cheong | Posted: 13 December 2012 2249 hrs
SINGAPORE: Following stricter measures on advertisements, the number of licensed moneylenders has dropped from 260 to 218 from 31 October 2011 to 31 October 2012.
That's a decrease of about 16 per cent.
Since the ban of print advertisements took effect last November 2011, licensed moneylenders say their business has dropped by 50 per cent.
In August, the Singapore Moneylender's Association sent three proposals to the Registry of Money Lenders suggesting ways to tighten the business of licensed moneylending, and at the same time, to relax the strict advertising rules.
Some moneylenders are hoping that the authorities could allow them to advertise through the Singapore Moneylender's Association, so that the association could help manage and control the advertisements.
Currently, moneylenders can only advertise on commercial websites, such as yellow pages, as well as on the walls, windows and doors of the company's office.
They are also proposing that licensed moneylenders go through a background check to ensure they do not have any criminal records.
The third proposal is for new licence holders to have a minimum paid-up capital of $100,000 to $200,000.
Mr David Poh Cheng Seng, President of the Singapore Moneylenders' Association, said they are discussing the proposal with the Ministry of Law.
"This is our way of strengthening our moneylending market and we have a good reputation among our licence holders. Currently, we don't have any paid-up capital but we are in the pipeline of discussion through the Ministry of Law whether to set the minimum paid-up among our moneylending licence (holders) and also to check our background," he said.
- CNA/de
- wong chee tat :)
By Lian Cheong | Posted: 13 December 2012 2249 hrs
SINGAPORE: Following stricter measures on advertisements, the number of licensed moneylenders has dropped from 260 to 218 from 31 October 2011 to 31 October 2012.
That's a decrease of about 16 per cent.
Since the ban of print advertisements took effect last November 2011, licensed moneylenders say their business has dropped by 50 per cent.
In August, the Singapore Moneylender's Association sent three proposals to the Registry of Money Lenders suggesting ways to tighten the business of licensed moneylending, and at the same time, to relax the strict advertising rules.
Some moneylenders are hoping that the authorities could allow them to advertise through the Singapore Moneylender's Association, so that the association could help manage and control the advertisements.
Currently, moneylenders can only advertise on commercial websites, such as yellow pages, as well as on the walls, windows and doors of the company's office.
They are also proposing that licensed moneylenders go through a background check to ensure they do not have any criminal records.
The third proposal is for new licence holders to have a minimum paid-up capital of $100,000 to $200,000.
Mr David Poh Cheng Seng, President of the Singapore Moneylenders' Association, said they are discussing the proposal with the Ministry of Law.
"This is our way of strengthening our moneylending market and we have a good reputation among our licence holders. Currently, we don't have any paid-up capital but we are in the pipeline of discussion through the Ministry of Law whether to set the minimum paid-up among our moneylending licence (holders) and also to check our background," he said.
- CNA/de
- wong chee tat :)
Thursday, December 13, 2012
Great balls of China to defend against 'apocalypse'
Great balls of China to defend against 'apocalypse'
Posted: 13 December 2012 1513 hrs
QIANTUN: As people across the globe tremble in anticipation of next week's supposed Mayan-predicted apocalypse, one Chinese villager says he may have just what humanity needs: tsunami-proof survival pods.
Camouflage-clad former farmer and furniture maker Liu Qiyuan, 45, inspected his latest creation, a sphere several metres tall he calls "Noah's Ark", designed to withstand towering tsunamis and devastating earthquakes.
"The pod won't have any problems even if there are 1,000-metre-high waves... it's like a ping pong ball, its skin may be thin, but it can withstand a lot of pressure," he told AFP at his workshop in Qiantun, an hour from Beijing.
Liu's seven completed or under-construction pods, made using a fibreglass casing over a steel frame, have cost him 300,000 yuan (approximately S$58,720) each, he says, and are equipped with oxygen tanks, food and water supplies.
They also come with seat belts, essential for staying safe in storms, Liu said, strapping himself into position before his assistants shook the sphere vigorously from outside.
"The pods are designed to carry 14 people at a time, but it's possible for 30 people to survive inside for at least two months," he said.
Their insulation was such that "a person could live for four months in the pod at the North or South Pole without freezing, or even feeling slightly cold," he said.
One of the spheres even boasts the domestic comforts of a table, bed and flowery wallpaper.
Liu claims he came up with the design after watching the 2009 Hollywood disaster film "2012", which is inspired by the expiry on December 21 of the Mayan Long Count, a more than 5,000 year calendar used by the ancient Central American civilisation.
"If there really is some kind of apocalypse, then you could say I've made a contribution to the survival of humanity," Liu said.
Apocalyptic predictions have provoked widespread fears among believers, including in China, where two rural counties sold out of candles this month after a panic that three days of darkness would begin on Dec 21, the Xinhua news agency reported.
A businessman in China's eastern Zhejiang province has received 21 orders for bright yellow doomsday survival pods also sold as "Noah's Ark," for five million yuan each, the state run China Daily reported.
A man from China's north-western province of Xinjiang told AFP that he has invested all his savings, approximately $160,000, to build a survival ark, fearing that his home will be engulfed in a doomsday flood.
Chinese authorities have sought to reassure citizens, with Beijing's police force publishing an online notice on Wednesday stating that "the so-called end of the world is a rumour", and advising citizens to use "scientific concepts".
Liu first conceived of spherical houses to withstand earthquakes, which occur frequently in China, but switched his focus to survival technology after the 2004 Indian Ocean tsunami, which claimed nearly a quarter of a million lives.
Liu, who is married with a daughter, said many were sceptical when he first outlined his plans. But despite building them he has not sold any, and is worried about repaying loans he took from neighbours and friends to fund his workshop.
"I worked for many years without saving much money... I invested most of my money in the pods, because it's worth it, it's about saving lives" he said.
Keen to demonstrate the design's strength to AFP, he used a step-ladder to clamber inside one pod before an assistant reversed a pick-up truck into it, inflicting only a minor scratch on its surface.
Peeking out of the hatch, he grinned triumphantly.
"No problem," he said, "I didn't feel a thing.
-AFP/fl
- wong chee tat :)
Posted: 13 December 2012 1513 hrs
QIANTUN: As people across the globe tremble in anticipation of next week's supposed Mayan-predicted apocalypse, one Chinese villager says he may have just what humanity needs: tsunami-proof survival pods.
Camouflage-clad former farmer and furniture maker Liu Qiyuan, 45, inspected his latest creation, a sphere several metres tall he calls "Noah's Ark", designed to withstand towering tsunamis and devastating earthquakes.
"The pod won't have any problems even if there are 1,000-metre-high waves... it's like a ping pong ball, its skin may be thin, but it can withstand a lot of pressure," he told AFP at his workshop in Qiantun, an hour from Beijing.
Liu's seven completed or under-construction pods, made using a fibreglass casing over a steel frame, have cost him 300,000 yuan (approximately S$58,720) each, he says, and are equipped with oxygen tanks, food and water supplies.
They also come with seat belts, essential for staying safe in storms, Liu said, strapping himself into position before his assistants shook the sphere vigorously from outside.
"The pods are designed to carry 14 people at a time, but it's possible for 30 people to survive inside for at least two months," he said.
Their insulation was such that "a person could live for four months in the pod at the North or South Pole without freezing, or even feeling slightly cold," he said.
One of the spheres even boasts the domestic comforts of a table, bed and flowery wallpaper.
Liu claims he came up with the design after watching the 2009 Hollywood disaster film "2012", which is inspired by the expiry on December 21 of the Mayan Long Count, a more than 5,000 year calendar used by the ancient Central American civilisation.
"If there really is some kind of apocalypse, then you could say I've made a contribution to the survival of humanity," Liu said.
Apocalyptic predictions have provoked widespread fears among believers, including in China, where two rural counties sold out of candles this month after a panic that three days of darkness would begin on Dec 21, the Xinhua news agency reported.
A businessman in China's eastern Zhejiang province has received 21 orders for bright yellow doomsday survival pods also sold as "Noah's Ark," for five million yuan each, the state run China Daily reported.
A man from China's north-western province of Xinjiang told AFP that he has invested all his savings, approximately $160,000, to build a survival ark, fearing that his home will be engulfed in a doomsday flood.
Chinese authorities have sought to reassure citizens, with Beijing's police force publishing an online notice on Wednesday stating that "the so-called end of the world is a rumour", and advising citizens to use "scientific concepts".
Liu first conceived of spherical houses to withstand earthquakes, which occur frequently in China, but switched his focus to survival technology after the 2004 Indian Ocean tsunami, which claimed nearly a quarter of a million lives.
Liu, who is married with a daughter, said many were sceptical when he first outlined his plans. But despite building them he has not sold any, and is worried about repaying loans he took from neighbours and friends to fund his workshop.
"I worked for many years without saving much money... I invested most of my money in the pods, because it's worth it, it's about saving lives" he said.
Keen to demonstrate the design's strength to AFP, he used a step-ladder to clamber inside one pod before an assistant reversed a pick-up truck into it, inflicting only a minor scratch on its surface.
Peeking out of the hatch, he grinned triumphantly.
"No problem," he said, "I didn't feel a thing.
-AFP/fl
- wong chee tat :)
Pre-trial conference for ex-SMRT bus drivers set for 19 Dec
Pre-trial conference for ex-SMRT bus drivers set for 19 Dec
By Sara Grosse | Posted: 12 December 2012 1417 hrs
SINGAPORE: The four ex-SMRT bus drivers from China charged with instigating an illegal strike in late November were back in court on Wednesday.
Their lawyers told the court that they need more time to take full instructions from their clients as the men were only released on bail on 6 December.
The four lawyers are acting for the former SMRT bus drivers on a pro-bono basis.
Mr Peter Low, whose client He Jun Ling faces two charges, said two of the lawyers involved in the case were approached by a non-governmental organization here.
A pre-trial conference date for 19 December has been set.
But lawyers said this is not an indication that their clients will claim trial.
There are three options on the table at the moment - to claim trial, plead guilty, or make representations to the Deputy Public Prosecutor (DPP) to reduce the charges.
A pre-trial conference will also ensure that the judge has more time to consider the specific needs of each case and administer directions.
The drivers are out on bail and their passports have been impounded.
The remaining two drivers - Gao Yue Qiang is being represented by Ms Tan Wen Hsien from Rajah and Tann while Wang Xian Jie is being represented by Mr Derek Kang from Rodyk and Davidson.
He is out on bail of S$20,000 while the rest are out on bail of S$10,000 each. Their passports have been impounded.
- CNA/ck
- wong chee tat :)
By Sara Grosse | Posted: 12 December 2012 1417 hrs
SINGAPORE: The four ex-SMRT bus drivers from China charged with instigating an illegal strike in late November were back in court on Wednesday.
Their lawyers told the court that they need more time to take full instructions from their clients as the men were only released on bail on 6 December.
The four lawyers are acting for the former SMRT bus drivers on a pro-bono basis.
Mr Peter Low, whose client He Jun Ling faces two charges, said two of the lawyers involved in the case were approached by a non-governmental organization here.
A pre-trial conference date for 19 December has been set.
But lawyers said this is not an indication that their clients will claim trial.
There are three options on the table at the moment - to claim trial, plead guilty, or make representations to the Deputy Public Prosecutor (DPP) to reduce the charges.
A pre-trial conference will also ensure that the judge has more time to consider the specific needs of each case and administer directions.
The drivers are out on bail and their passports have been impounded.
The remaining two drivers - Gao Yue Qiang is being represented by Ms Tan Wen Hsien from Rajah and Tann while Wang Xian Jie is being represented by Mr Derek Kang from Rodyk and Davidson.
He is out on bail of S$20,000 while the rest are out on bail of S$10,000 each. Their passports have been impounded.
- CNA/ck
- wong chee tat :)
Hong Kong plans to raise minimum wage
Hong Kong plans to raise minimum wage
Posted: 12 December 2012 2211 hrs
HONG KONG: Hong Kong plans to raise the city's minimum wage to HK$30 (US$3.87) an hour, a minister said Wednesday, in a hike slammed by labour groups as inadequate for the Asian financial hub.
Labour minister Matthew Cheung said the raise represents a 7.1 percent increase from the HK$28 pay per hour at present, which was introduced in May last year partly to tackle a widening income gap between the rich and poor.
"(The new rate) will be effective from May 1 next year if it is approved by the legislative council," Cheung told reporters, adding that around 320,000 workers are expected to benefit from the adjustment.
Critics however said the raise was too small to cover inflation and the high cost of living in Hong Kong, which is one of the world's most expensive city to live in with its sky-high property prices.
"We are not satisfied with the government proposal and think the hike is unreasonable," Labour Party chairman Lee Cheuk-yan said.
The city introduced the controversial pay floor for the first time last year after fierce opposition from employers.
Known for its stunningly wealthy tycoons, the southern Chinese city is also home to hundreds of thousands of workers who live on hourly wages sometimes as low as US$2 an hour prior to the introduction of the minimum wage.
Hong Kong's inflation rose 5.3 percent year-on-year in 2011, and may gain 3.9 percent this year according to a government forecast.
- AFP/lp
- wong chee tat :)
Posted: 12 December 2012 2211 hrs
HONG KONG: Hong Kong plans to raise the city's minimum wage to HK$30 (US$3.87) an hour, a minister said Wednesday, in a hike slammed by labour groups as inadequate for the Asian financial hub.
Labour minister Matthew Cheung said the raise represents a 7.1 percent increase from the HK$28 pay per hour at present, which was introduced in May last year partly to tackle a widening income gap between the rich and poor.
"(The new rate) will be effective from May 1 next year if it is approved by the legislative council," Cheung told reporters, adding that around 320,000 workers are expected to benefit from the adjustment.
Critics however said the raise was too small to cover inflation and the high cost of living in Hong Kong, which is one of the world's most expensive city to live in with its sky-high property prices.
"We are not satisfied with the government proposal and think the hike is unreasonable," Labour Party chairman Lee Cheuk-yan said.
The city introduced the controversial pay floor for the first time last year after fierce opposition from employers.
Known for its stunningly wealthy tycoons, the southern Chinese city is also home to hundreds of thousands of workers who live on hourly wages sometimes as low as US$2 an hour prior to the introduction of the minimum wage.
Hong Kong's inflation rose 5.3 percent year-on-year in 2011, and may gain 3.9 percent this year according to a government forecast.
- AFP/lp
- wong chee tat :)
财富不断增加 促使中国人对奢侈品趋之若鹜
Updated: Wednesday, 12 December 2012 18:25
财富不断增加 促使中国人对奢侈品趋之若鹜
财富不断增加，促使中国人对奢侈品趋之若鹜。
全球管理咨询公司麦肯锡的调查显示，到了2015年，中国将占全球奢侈品市场的三分之一，相当于1千750亿美元。
中国人购买的奢侈品包括：名牌服饰、皮包、珠宝等。
另一份针对中国14个城市1千多家奢侈品购物场所进行的调查也显示，中国人今年的奢侈品消费已经占全球奢侈品市场的百分之27，约相等于1千450亿美元。
调查报告指出，中国消费者的奢侈品花费，已经超越其他国家，成为奢侈品行业发展的动力。
报告也说，中国的经济增长步伐放缓，加上政府严厉打击腐败行为，影响了当地的送礼习俗， 导致今年的奢侈品需求稍微下降。不过，不断扩大的富有中产阶级，将带动奢侈品行业的未来发展。
- wong chee tat :)
财富不断增加 促使中国人对奢侈品趋之若鹜
财富不断增加，促使中国人对奢侈品趋之若鹜。
全球管理咨询公司麦肯锡的调查显示，到了2015年，中国将占全球奢侈品市场的三分之一，相当于1千750亿美元。
中国人购买的奢侈品包括：名牌服饰、皮包、珠宝等。
另一份针对中国14个城市1千多家奢侈品购物场所进行的调查也显示，中国人今年的奢侈品消费已经占全球奢侈品市场的百分之27，约相等于1千450亿美元。
调查报告指出，中国消费者的奢侈品花费，已经超越其他国家，成为奢侈品行业发展的动力。
报告也说，中国的经济增长步伐放缓，加上政府严厉打击腐败行为，影响了当地的送礼习俗， 导致今年的奢侈品需求稍微下降。不过，不断扩大的富有中产阶级，将带动奢侈品行业的未来发展。
- wong chee tat :)
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