RWS forecasts 17 million visitors for 2013
Posted: 07 December 2012 1216 hrs
SINGAPORE: Resorts World Sentosa (RWS) expects to have 17 million visitors for 2013, according to the integrated resort's forecast.
RWS, which started welcoming guests in January 2010, has 16 million visitors to date for 2012.
The recently-opened Marine Life Park is expected to draw the extra one million visitors to the integrated resort next year.
Since 2010, it has seen a total of 45 million guests.
RWS will offer new attractions progressively including a new ride at Universal Studios Singapore based on the children's show, Sesame Street, and new education and conservation programmes at Marine Life Park.
The integrated resort has generated over 13,000 jobs. Seventy per cent of the jobs are taken up by Singaporeans.
- CNA/ck
- wong chee tat :)
Friday, December 7, 2012
Analysts downgrade SMRT stock to 'sell'
Analysts downgrade SMRT stock to 'sell'
By Linette Lim | Posted: 06 December 2012 2326 hrs
SINGAPORE: Analysts have been downgrading SMRT's stock from 'buy' to 'sell' over the past year, with the company currently facing zero 'buy' calls and 12 'sell' ratings.
Analysts agree that higher repair and maintenance costs, as well as pressure to deliver better service, has left the company in a tight squeeze.
SMRT CEO Desmond Kuek said that the company's focus on profit was one reason why the transport firm has been facing problems.
He added that the firm will undergo restructuring to help it improve service standards.
In a filing on the Singapore Exchange on December 5, Mr Kuek said SMRT will undergo a restructuring exercise to help it improve service standards.
While this is good news for commuters, analysts say shareholders of SMRT will likely find themselves at the losing end.
"Shareholders are likely to see the cost of the company climb up, and this will hit the profits and ultimately the distribution," said Executive Director of DMG & Partners Research Terence Wong, adding that many investors bought into SMRT because of the company's history of good dividend payouts.
However analysts have also acknowledged that local transport firms battle declining profits and rising costs.
"Margins for bus (transport operators) are actually rather bad. If you look at ComfortDelGro and SMRT, both of their bus operations are losing money. For rail, they are still making money, but their margins have come off from previously," said Andy Sim, vice president of Investment Research at DBS Vickers Securities.
ComfortDelGro has expanded its business beyond Singapore over the years. The company reported that its overseas operations made up 45.8 per cent of its operating profit in 2011.
"ComfortDelGro has always been (looking at) overseas expansion and they have done relatively well, so I believe that will continue. For SMRT, what we'll probably see is that the focus will be domestic, and what the management has said is that they will focus on delivering better service to commuters," said Mr Sim.
SMRT's dividend payout fell 10 per cent on-year in 2012.
Shares of SMRT Corporation have also declined over 7 per cent over the past year, compared to a 20 per cent increase for ComfortDelGro's stock.
- CNA/jc
- wong chee tat :)
By Linette Lim | Posted: 06 December 2012 2326 hrs
SINGAPORE: Analysts have been downgrading SMRT's stock from 'buy' to 'sell' over the past year, with the company currently facing zero 'buy' calls and 12 'sell' ratings.
Analysts agree that higher repair and maintenance costs, as well as pressure to deliver better service, has left the company in a tight squeeze.
SMRT CEO Desmond Kuek said that the company's focus on profit was one reason why the transport firm has been facing problems.
He added that the firm will undergo restructuring to help it improve service standards.
In a filing on the Singapore Exchange on December 5, Mr Kuek said SMRT will undergo a restructuring exercise to help it improve service standards.
While this is good news for commuters, analysts say shareholders of SMRT will likely find themselves at the losing end.
"Shareholders are likely to see the cost of the company climb up, and this will hit the profits and ultimately the distribution," said Executive Director of DMG & Partners Research Terence Wong, adding that many investors bought into SMRT because of the company's history of good dividend payouts.
However analysts have also acknowledged that local transport firms battle declining profits and rising costs.
"Margins for bus (transport operators) are actually rather bad. If you look at ComfortDelGro and SMRT, both of their bus operations are losing money. For rail, they are still making money, but their margins have come off from previously," said Andy Sim, vice president of Investment Research at DBS Vickers Securities.
ComfortDelGro has expanded its business beyond Singapore over the years. The company reported that its overseas operations made up 45.8 per cent of its operating profit in 2011.
"ComfortDelGro has always been (looking at) overseas expansion and they have done relatively well, so I believe that will continue. For SMRT, what we'll probably see is that the focus will be domestic, and what the management has said is that they will focus on delivering better service to commuters," said Mr Sim.
SMRT's dividend payout fell 10 per cent on-year in 2012.
Shares of SMRT Corporation have also declined over 7 per cent over the past year, compared to a 20 per cent increase for ComfortDelGro's stock.
- CNA/jc
- wong chee tat :)
MOM says Jurong crane incident workers had approached ministry for help
MOM says Jurong crane incident workers had approached ministry for help
By S Ramesh | Posted: 06 December 2012 2053 hrs
SINGAPORE: The Ministry of Manpower (MOM) said the two workers from China involved in a crane incident at Jurong Port Road on Thursday morning had approached the ministry previously.
The two construction workers, Mr Zhu Guilei and Mr Wu Xiaolin, were at the top of the crane at a construction site at 31, Jurong Port Road, citing unhappiness with their employer Zhong Jiang (Singapore) International Pte Ltd.
In a statement, MOM said Mr Zhu had first come to the Ministry in July 2011 to enquire how he and his friend could resign and return home.
Mr Zhu was then working for a different company.
On Wednesday, Mr Zhu approached MOM's customer relations officers at the MOM Services Centre together with Mr Wu, as they had tendered their resignations and planned to return home.
They claimed they had outstanding salaries owed to them. However, they did not have the necessary documents to support their claims.
MOM officers asked them to return with the documents so that the ministry could investigate, and both Mr Zhu and Mr Wu had agreed to do so.
The MOM has stressed that it will not hesitate to take action against employers who fail to pay their workers on time.
And it urges workers not to take matters into their own hands and break the law. Those facing employment issues should approach MOM for advice and assistance. They can also call the MOM hotline at 6438 5122.
Separately in a statement, the Migrant Workers' Centre (MWC) said it is dismayed to hear of the protest by two migrant workers at Jurong Port Road on Thursday morning, especially in the light of recent developments.
Its Chairman Yeo Guat Kwang said this was a further reminder of the need to expand our outreach and engagement with migrant workers to raise their awareness of channels of help available to them.
- CNA/de
- wong chee tat :)
By S Ramesh | Posted: 06 December 2012 2053 hrs
SINGAPORE: The Ministry of Manpower (MOM) said the two workers from China involved in a crane incident at Jurong Port Road on Thursday morning had approached the ministry previously.
The two construction workers, Mr Zhu Guilei and Mr Wu Xiaolin, were at the top of the crane at a construction site at 31, Jurong Port Road, citing unhappiness with their employer Zhong Jiang (Singapore) International Pte Ltd.
In a statement, MOM said Mr Zhu had first come to the Ministry in July 2011 to enquire how he and his friend could resign and return home.
Mr Zhu was then working for a different company.
On Wednesday, Mr Zhu approached MOM's customer relations officers at the MOM Services Centre together with Mr Wu, as they had tendered their resignations and planned to return home.
They claimed they had outstanding salaries owed to them. However, they did not have the necessary documents to support their claims.
MOM officers asked them to return with the documents so that the ministry could investigate, and both Mr Zhu and Mr Wu had agreed to do so.
The MOM has stressed that it will not hesitate to take action against employers who fail to pay their workers on time.
And it urges workers not to take matters into their own hands and break the law. Those facing employment issues should approach MOM for advice and assistance. They can also call the MOM hotline at 6438 5122.
Separately in a statement, the Migrant Workers' Centre (MWC) said it is dismayed to hear of the protest by two migrant workers at Jurong Port Road on Thursday morning, especially in the light of recent developments.
Its Chairman Yeo Guat Kwang said this was a further reminder of the need to expand our outreach and engagement with migrant workers to raise their awareness of channels of help available to them.
- CNA/de
- wong chee tat :)
1 of 2 China workers perched atop crane escorted down
1 of 2 China workers perched atop crane escorted down
By Sara Grosse | Posted: 06 December 2012 1431 hrs
SINGAPORE: One of the two workers from China who sat for hours on top of a crane at a construction site in Jurong Port Road was escorted down by Singapore Civil Defence Force (SCDF) officer at about 2pm on Thursday.
The man and another worker are believed to be protesting over a wage dispute.
Police said they were alerted about the incident at about 6.35am at 31 Jurong Port Road.
A spokesman from the SCDF said each man was perched up on a crane, which is about 10 storeys high.
Officials from the Ministry of Manpower are at the scene.
- CNA/ck
- wong chee tat :)
By Sara Grosse | Posted: 06 December 2012 1431 hrs
SINGAPORE: One of the two workers from China who sat for hours on top of a crane at a construction site in Jurong Port Road was escorted down by Singapore Civil Defence Force (SCDF) officer at about 2pm on Thursday.
The man and another worker are believed to be protesting over a wage dispute.
Police said they were alerted about the incident at about 6.35am at 31 Jurong Port Road.
A spokesman from the SCDF said each man was perched up on a crane, which is about 10 storeys high.
Officials from the Ministry of Manpower are at the scene.
- CNA/ck
- wong chee tat :)
Two China workers arrested after standoff at construction site
Two China workers arrested after standoff at construction site
By Sara Grosse/Alice Chia | Posted: 06 December 2012 1600 hrs
SINGAPORE: Police have arrested two workers from China for unlawfully remaining on top of construction cranes at a construction site in Jurong and intentionally causing alarm.
The Ministry of Manpower says the two men, Mr Zhu Guilei and Mr Wu Xiaolin, were unhappy with their employer Zhong Jiang (Singapore) International Pte Ltd over salaries.
Since 6.30am, the workers were seen on top of the construction cranes at a work site near No 31, Jurong Port Road.
The workers remained on separate cranes, which are about 10 storeys high.
By afternoon, the heat was noticeable. Still, the workers did not get down from the cranes.
The Police Crisis Negotiation Unit was activated to get the two men down to safety.
Shortly after 2pm, SCDF officers were seen climbing up one of the cranes.
After some coaxing, one of the workers began to make his way down.
The second worker continued to stay on top of his crane for the next hour.
After it started to rain, SCDF officers began climbing up the second crane.
Eventually, the second worker got down from the crane at about 3.30pm.
Both men were seen being escorted by SCDF officers after they reached the foot of the crane.
The two workers had previously approached the Ministry of Manpower and claimed they had outstanding salaries owed to them.
However, the MOM said the workers did not have the necessary documents to support these claims.
MOM officers had asked them to return with the documents so they could investigate. The workers had agreed to do so.
Police said if convicted, the workers can expect to face imprisonment, fine or both.
On the incident, the Migrant Workers' Centre called for more outreach with migrant workers so that they can be made aware of channels of help available to them.
Mr Yeo Guat Kwang, Chairman of Migrant Workers' Centre (MWC) said: "We have contacted the Ministry of Manpower about the case and on our hope that they are given a fair opportunity to air their grievances. In the meantime, we are confident that MOM will be able to achieve an outcome, with the workers and their employers, which is satisfactory to all concerned.
"We would like to assure the workers that the MWC will monitor the developments in this case and will step in to assist them if the need arises. We are gravely concerned about the interests and welfare of our migrant workers, and would like to reiterate our call to them to abide by established channels of assistance, either through MOM, MWC or any other migrant organisation set up to champion their welfare, and not to take matters into their own hands."
- CNA/ck/de
- wong chee tat :)
By Sara Grosse/Alice Chia | Posted: 06 December 2012 1600 hrs
SINGAPORE: Police have arrested two workers from China for unlawfully remaining on top of construction cranes at a construction site in Jurong and intentionally causing alarm.
The Ministry of Manpower says the two men, Mr Zhu Guilei and Mr Wu Xiaolin, were unhappy with their employer Zhong Jiang (Singapore) International Pte Ltd over salaries.
Since 6.30am, the workers were seen on top of the construction cranes at a work site near No 31, Jurong Port Road.
The workers remained on separate cranes, which are about 10 storeys high.
By afternoon, the heat was noticeable. Still, the workers did not get down from the cranes.
The Police Crisis Negotiation Unit was activated to get the two men down to safety.
Shortly after 2pm, SCDF officers were seen climbing up one of the cranes.
After some coaxing, one of the workers began to make his way down.
The second worker continued to stay on top of his crane for the next hour.
After it started to rain, SCDF officers began climbing up the second crane.
Eventually, the second worker got down from the crane at about 3.30pm.
Both men were seen being escorted by SCDF officers after they reached the foot of the crane.
The two workers had previously approached the Ministry of Manpower and claimed they had outstanding salaries owed to them.
However, the MOM said the workers did not have the necessary documents to support these claims.
MOM officers had asked them to return with the documents so they could investigate. The workers had agreed to do so.
Police said if convicted, the workers can expect to face imprisonment, fine or both.
On the incident, the Migrant Workers' Centre called for more outreach with migrant workers so that they can be made aware of channels of help available to them.
Mr Yeo Guat Kwang, Chairman of Migrant Workers' Centre (MWC) said: "We have contacted the Ministry of Manpower about the case and on our hope that they are given a fair opportunity to air their grievances. In the meantime, we are confident that MOM will be able to achieve an outcome, with the workers and their employers, which is satisfactory to all concerned.
"We would like to assure the workers that the MWC will monitor the developments in this case and will step in to assist them if the need arises. We are gravely concerned about the interests and welfare of our migrant workers, and would like to reiterate our call to them to abide by established channels of assistance, either through MOM, MWC or any other migrant organisation set up to champion their welfare, and not to take matters into their own hands."
- CNA/ck/de
- wong chee tat :)
Protest by HK trade unions over SMRT strike "highly regrettable", says NTUC chief
Protest by HK trade unions over SMRT strike "highly regrettable", says NTUC chief
By Vimita Mohandas | Posted: 06 December 2012 1536 hrs
SINGAPORE: Labour chief Lim Swee Say said on Thursday the protest by the Hong Kong Confederation of Trade Unions (HKCTU) over the illegal strike by SMRT bus drivers from China is highly regrettable.
Mr Lim was speaking on the sidelines of the Labour Movement Workplan Seminar on Thursday.
Some 20 members of the HKCTU held a protest outside the Singapore Consulate in Hong Kong on Wednesday.
The confederation had said Singapore did not respect the basic rights of workers who go on strike.
It also accused Singapore of not conforming to equal remuneration for its workers.
The union called on the Singapore government to reinstate the 29 drivers who were repatriated, and to drop the charges against the five who were detained.
Mr Lim, who is Secretary-General of the National Trades Union Congress (NTUC), said that it is highly inappropriate for unions of other countries to dictate what another country should do.
Mr Lim said: "We, as a labour movement, NTUC, we will not dictate what Hong Kong, the government or trade unions should do because why? We should respect that each country has its own different circumstances.
"All workers regardless of nationalities must respect the law of the land. I'm sure in Hong Kong, they expect their workers to follow the law of their land as well."
He urged management, union and workers to strengthen communications and pertnerships to ensure that workers are treated fairly.
Mr Lim added that the strike could have been avoided.
He added: "If the management can respect and recognise the role of the union and when the union and management work together with the workers, I think it's a much better way in ensuring we can take care of the interest of the workers, business, and thereby able to serve the public commuters better."
On a separate issue, Mr Yeo Guat Kwang, who is chairman of the Migrant Workers' Centre, said more help will be given to the 89 workers who were injured in the Jurong shipyard rig accident.
Besides counselling sessions, they will also be given a free phone set with a prepaid phonecard to enable them to contact their loved ones.
- CNA/de
- wong chee tat ;)
By Vimita Mohandas | Posted: 06 December 2012 1536 hrs
SINGAPORE: Labour chief Lim Swee Say said on Thursday the protest by the Hong Kong Confederation of Trade Unions (HKCTU) over the illegal strike by SMRT bus drivers from China is highly regrettable.
Mr Lim was speaking on the sidelines of the Labour Movement Workplan Seminar on Thursday.
Some 20 members of the HKCTU held a protest outside the Singapore Consulate in Hong Kong on Wednesday.
The confederation had said Singapore did not respect the basic rights of workers who go on strike.
It also accused Singapore of not conforming to equal remuneration for its workers.
The union called on the Singapore government to reinstate the 29 drivers who were repatriated, and to drop the charges against the five who were detained.
Mr Lim, who is Secretary-General of the National Trades Union Congress (NTUC), said that it is highly inappropriate for unions of other countries to dictate what another country should do.
Mr Lim said: "We, as a labour movement, NTUC, we will not dictate what Hong Kong, the government or trade unions should do because why? We should respect that each country has its own different circumstances.
"All workers regardless of nationalities must respect the law of the land. I'm sure in Hong Kong, they expect their workers to follow the law of their land as well."
He urged management, union and workers to strengthen communications and pertnerships to ensure that workers are treated fairly.
Mr Lim added that the strike could have been avoided.
He added: "If the management can respect and recognise the role of the union and when the union and management work together with the workers, I think it's a much better way in ensuring we can take care of the interest of the workers, business, and thereby able to serve the public commuters better."
On a separate issue, Mr Yeo Guat Kwang, who is chairman of the Migrant Workers' Centre, said more help will be given to the 89 workers who were injured in the Jurong shipyard rig accident.
Besides counselling sessions, they will also be given a free phone set with a prepaid phonecard to enable them to contact their loved ones.
- CNA/de
- wong chee tat ;)
Public transport fare review to take into account bus drivers' wage increase
Public transport fare review to take into account bus drivers' wage increase
By Dylan Loh | Posted: 06 December 2012 1626 hrs
SINGAPORE: Transport Minister Lui Tuck Yew said on Thursday public transport fare review, due next year, will take into account the need to raise bus drivers' wages.
Mr Lui was speaking for the first time in the aftermath of the illegal strike by bus drivers from China last week, and said public transport cost increases over the years have outpaced fare adjustments.
He was trying out the route of a new service on Thursday under the government's billion-dollar Bus Service Enhancement Programme.
Mr Lui said the 34 Chinese bus drivers out of work from SMRT due to the strike make up only about 0.5 per cent of the total pool of 8,000-odd drivers.
Therefore, the impact on bus enhancements should be minimal.
What's of concern, however, is the lingering effect of the strike on recruitment and retention of bus drivers, and Mr Lui said the government is watching this carefully.
Looking at public transport fare adjustments of past years, Mr Lui said while fares have increased by 0.3 per cent, costs in fuel and wages for instance have gone up by 30 per cent.
He said the fare review committee recognises this "significant mismatch".
Mr Lui said: "Any fare adjustment will allow the two operators to have more resources, in time to come, to make further salary adjustments to their drivers. We recognise that the drivers need to be paid more. (The) question is, where is that money coming from?
"So we need to see the relationship between any fare adjustment, wage increase, and any other forms of government support that we might be required to give to the operators."
Mr Lui said it is difficult to wean dependence off foreign bus drivers as Singaporeans may not want to take up the job.
So salary adjustments, at least, will make the occupation more attractive to locals.
He said previous salary adjustments have helped to increase the recruitment of drivers, both local and foreign.
When asked whether SMRT should face any penalty as a result of the strike, Mr Lui said the operator will be evaluated according to quality of service standards.
Impact on bus services as a result of the two-day strike will be taken into account.
Mr Lui said he also spoke to SMRT's Chief Executive Desmond Kuek on the strike, and said the organisation needs to improve in many areas.
He said Mr Kuek needs to be given time to turn things around.
From December 16, two new SBS Transit bus services will start plying under the Bus Service Enhancement Programme.
Service 50, which will start service on December 16, will cover Ang Mo Kio, Yio Chu Kang, Sengkang and Punggol.
Express Service 513 will start on December 17, connecting residents of Tampines to the Central Business District. This service only runs during the morning and evening peak period on weekdays.
In addition, four new bus services will be added to the bus network in the first quarter of 2013.
Three of them come under the government's enhancement programme, while the other is a trunk service by SBS Transit at its own cost.
- CNA/de
- wong chee tat :)
By Dylan Loh | Posted: 06 December 2012 1626 hrs
SINGAPORE: Transport Minister Lui Tuck Yew said on Thursday public transport fare review, due next year, will take into account the need to raise bus drivers' wages.
Mr Lui was speaking for the first time in the aftermath of the illegal strike by bus drivers from China last week, and said public transport cost increases over the years have outpaced fare adjustments.
He was trying out the route of a new service on Thursday under the government's billion-dollar Bus Service Enhancement Programme.
Mr Lui said the 34 Chinese bus drivers out of work from SMRT due to the strike make up only about 0.5 per cent of the total pool of 8,000-odd drivers.
Therefore, the impact on bus enhancements should be minimal.
What's of concern, however, is the lingering effect of the strike on recruitment and retention of bus drivers, and Mr Lui said the government is watching this carefully.
Looking at public transport fare adjustments of past years, Mr Lui said while fares have increased by 0.3 per cent, costs in fuel and wages for instance have gone up by 30 per cent.
He said the fare review committee recognises this "significant mismatch".
Mr Lui said: "Any fare adjustment will allow the two operators to have more resources, in time to come, to make further salary adjustments to their drivers. We recognise that the drivers need to be paid more. (The) question is, where is that money coming from?
"So we need to see the relationship between any fare adjustment, wage increase, and any other forms of government support that we might be required to give to the operators."
Mr Lui said it is difficult to wean dependence off foreign bus drivers as Singaporeans may not want to take up the job.
So salary adjustments, at least, will make the occupation more attractive to locals.
He said previous salary adjustments have helped to increase the recruitment of drivers, both local and foreign.
When asked whether SMRT should face any penalty as a result of the strike, Mr Lui said the operator will be evaluated according to quality of service standards.
Impact on bus services as a result of the two-day strike will be taken into account.
Mr Lui said he also spoke to SMRT's Chief Executive Desmond Kuek on the strike, and said the organisation needs to improve in many areas.
He said Mr Kuek needs to be given time to turn things around.
From December 16, two new SBS Transit bus services will start plying under the Bus Service Enhancement Programme.
Service 50, which will start service on December 16, will cover Ang Mo Kio, Yio Chu Kang, Sengkang and Punggol.
Express Service 513 will start on December 17, connecting residents of Tampines to the Central Business District. This service only runs during the morning and evening peak period on weekdays.
In addition, four new bus services will be added to the bus network in the first quarter of 2013.
Three of them come under the government's enhancement programme, while the other is a trunk service by SBS Transit at its own cost.
- CNA/de
- wong chee tat :)
Sit-in on top of crane in Jurong by 2 China workers over work dispute
Sit-in on top of crane in Jurong by 2 China workers over work dispute
Posted: 06 December 2012 1204 hrs
SINGAPORE: Two workers from China are sitting on top of two cranes at a construction site in Jurong Port Road and are refusing to come down over what appears to be a work dispute.
Police said they were alerted about this incident at about 6:35am on Thursday at 31 Jurong Port Road.
A spokesman from the Singapore Civil Defence Force said each man is perched up on a crane, which is about 10 storeys high.
Officials from the Ministry of Manpower are at the scene.
- CNA/ck/sf
- wong chee tat :)
Posted: 06 December 2012 1204 hrs
SINGAPORE: Two workers from China are sitting on top of two cranes at a construction site in Jurong Port Road and are refusing to come down over what appears to be a work dispute.
Police said they were alerted about this incident at about 6:35am on Thursday at 31 Jurong Port Road.
A spokesman from the Singapore Civil Defence Force said each man is perched up on a crane, which is about 10 storeys high.
Officials from the Ministry of Manpower are at the scene.
- CNA/ck/sf
- wong chee tat :)
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