US Treasury bills rise at weekly auction

US Treasury bills rise with 3-month bills hitting highest level in 2 years

Associated Press – Tue, Feb 26, 2013 6:31 AM SGT

WASHINGTON (AP) -- Interest rates on short-term Treasury bills rose in Monday's auction with rates on three-month Treasury bills rising to the highest level in two years.
The Treasury Department auctioned $35 billion in three-month bills at a discount rate of 0.125 percent, up from 0.115 percent last week. Another $30 billion in six-month bills was auctioned at a discount rate of 0.135 percent, up from 0.130 percent last week.
The three-month rate was the highest since three-month bills averaged 0.145 percent on Feb. 28, 2011. The six-month rate was the highest since those bills averaged 0.140 percent on Dec. 3.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,996.84 while a six-month bill sold for $9,993.18. That would equal an annualized rate of 0.127 percent for the three-month bills and 0.137 percent for the six-month bills.
Separately the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 0.17 percent last week from 0.15 percent the previous week.

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The Man With The Iron Fists Trailer

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Jack the Giant Slayer Trailer

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Recall or replace an email message that you sent

The recall feature in Microsoft Outlook tries to stop delivery and, optionally, replace an email message that you have already sent to another Microsoft Exchange Server user within your organization. Message recall is available after you click Send and then realize that you forgot to attach a file, include information in the message, or want to revise what was originally sent. You can’t recall messages sent to email addresses outside your organization.

 Note    A Microsoft Exchange Server account is required.

In this article

• Recall a message
• Recall and replace a message
• Scenarios that affect recall success

Recall a message

To recall a message without sending a revised message, do the following:

1. In Mail, in the Navigation Pane, click Sent Items.
2. Open the message that you want to recall.
3. On the Message tab, in the Move group, click Actions, and then click Recall This Message.
4. Click Delete unread copies of this message.

 Note    If you don’t see the Message tab, make sure that you have opened a sent message as described in steps 1 and 2.

I don't see the Recall This Message command

 Note    If you are sending the message to many people, you may want to clear the Tell me if recall succeeds or fails for each recipient check box.

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Recall and replace a message

In addition to trying to recall a message, you can send a replacement message. For example, if you forgot to include an attachment, you can try to recall the message, and then send a replacement message that has the attachment. The original message is removed from the mailboxes of the recipients who have not yet opened it, and then is replaced with the updated message.
To recall a message and then send a revised message, do the following:

1. In Mail, in the Navigation Pane, click Sent Items.
2. Open the message that you want to recall and replace.
3. On the Message tab, in the Move group, click Actions, and then click Recall This Message.

I don't see the Recall This Message command

4. Click Delete unread copies and replace with a new message.

 Note    If you are sending the message to many people, you may want to clear the Tell me if recall succeeds or fails for each recipient check box.

5. Click OK, and then update the new message. You can also remove or add file attachments.
6. Click Send.

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Scenarios that affect recall success

The success or failure of a message recall depends on the recipients' settings in Outlook. In the following table, five scenarios are presented:

• Four scenarios that explain what happens when message recall is tried in various situations
• One scenario that describes what happens when the recall of a message that was sent to a Microsoft Exchange public folder is tried

Action	Result
You send a message to someone. You recall the original message and replace it with a new one. On the recipient's computer, under Tracking, the Automatically process requests and responses to meeting requests and polls check box is selected.  Note   To view this setting, click the File tab. Under Outlook, click Options, click Mail, and then scroll to the Tracking section.	Both the original message and the recall message are received in the recipient's Inbox. Assuming the original message has not been read, the original message is deleted and the recipient is informed that you, the sender, deleted the message from his or her mailbox.  Note    If the original message is marked as read (viewing in the Reading Pane is not reading in this scenario) when the recall message is processed, the recipient is informed that you, the sender, want to delete the message. However, the message remains in the recipient's Outlook folder.
You send a message to someone. You recall the original message and replace it with a new one. On the recipient's computer, under Tracking, the Automatically process requests and responses to meeting requests and polls check box is not selected.  Note   To view this setting, click the File tab. Under Outlook, click Options, click Mail, and then scroll to the Tracking section.	Both the original message and the recall message are received in the recipient's Inbox. On the recipient's computer, one of the following results occurs: If the recipient opens the recall message first, the original message is deleted, and the recipient is informed that you, the sender, have deleted the message from their mailbox. If the recipient opens the original message first, the recall fails, and both the original and recall messages are available.  Note    If the original message is marked as read (viewing in the Reading Pane is not reading in this scenario) when the recall message is processed, the recipient is informed that you, the sender, want to delete the message. However, the message remains in the recipient's Outlook folder.
You send a message to someone. You recall the original message and replace it with a new one. On the recipient's computer, either by rule or by action of the recipient, the original message is moved out of the Inbox to another folder and the recall message remains in the Inbox (or it is moved to another folder also).	If the recall message and the original message exist in separate folders, the recipient receives a message that indicates a recall attempt failed. This occurs regardless of the Outlook configurations and the read status of the message. The original message and the new message are both available to the recipient.
You send a message to someone. You recall the original message and replace it with a new one. On the recipient's computer, either by rule or by action of the recipient, both messages are moved to the same folder. This results in behavior similar to what occurs when Outlook is not configured to automatically process messages.	On the recipient's computer, one of the following results occurs: If the recipient opens the recall message first, the original message is deleted, and the recipient is informed that you, the sender, deleted the message from his or her mailbox. If the recipient opens the original message first, the recall fails, and both the old and new messages are available.
You send a message to a public folder. You recall the original message and replace it with a new one.	One of the following results occurs: If the recipient who reads the recall message has read access to all the items in the public folder but did not read the original message, the recall succeeds, and only the new message remains. You, the sender, receive a message that indicates the recall succeeded. If the recipient has already marked the original message as read, he or she is informed that the recall failed, and only the recall message is deleted. If a user who has any other public folder rights opens the recall message, the recall fails, and the user receives a message that states the recall failed. Both the old and new messages remain in the public folder.  Notes  If the recipient reads the original message and then marks it as unread, it is considered never read and recall is successful. In the public folder, it is the reader's rights, not the sender's, that determine the success or failure of the recall.

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Starcraft II: Heart of the Swarm (PC) - interview

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StarCraft 2: Heart of the Swarm

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NTU responds to outcry over news of lecturer being denied tenure

NTU responds to outcry over news of lecturer being denied tenure
Posted: 26 February 2013 2226 hrs
     
SINGAPORE: The Nanyang Technological University (NTU) has responded to the outcry following news that Associate Professor Cherian George had been denied tenure.

A university spokesperson said NTU has a rigorous tenure process and all NTU faculty staff seeking tenure goes through the same process.

More than 1,000 faculty staff have gone through the process at NTU in the last six years and so far, more than 55 per cent have been granted tenure.

The tenure review process is purely a peer-driven academic exercise comprising internal and external reviewers.

The two equally important criteria are distinction in research and scholarship, and high quality teaching.

Service and other contributions to the university, profession, or community are also taken into consideration.

As all employment matters are confidential, NTU will not comment on any specific cases.

- CNA/al

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GIC raises US$1.25b by selling shares in Global Logistic Properties

GIC raises US$1.25b by selling shares in Global Logistic Properties
Posted: 26 February 2013 1751 hrs
     
SINGAPORE: The Government of Singapore Investment Corp (GIC) has raised US$1.25 billion by selling about 596 million shares in warehouse operator Global Logistic Properties (GLP).

GIC sold the shares at S$2.60 each, which is a 4.8 per cent discount to Monday's closing price.

Following the share sale, it now holds a 37 per cent stake in GLP, down from 49 per cent.

GIC said the move is part of the fund's portfolio rebalancing, and it will remain a substantial shareholder of GLP for the long run.

- CNA/ms

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HSA warns against consuming 3 tainted health products

HSA warns against consuming 3 tainted health products
By Sara Grosse | Posted: 26 February 2013 1424 hrs
     
SINGAPORE: The Health Sciences Authority (HSA) has warned the public against consuming three tainted health products bought overseas, after patients suffered serious adverse reactions linked to the products.

The products are Ginseng Baji Gu Ci Wan, Tu Chong Ginseng Wan Le Seang and X-Tract Nature.

HSA said these products, obtained from overseas, contain undeclared medicinal ingredients.

They are not approved by HSA and are sold under the guise of herbal or traditional medicines to relieve pain and gout.

Two patients suffered serious adverse reactions after taking the products.

One consumed Ginseng Baji Gu Ci Wan, while the other consumed Tu Chong Ginseng Wan Le Seang.

A third patient experienced rapid relief of her migraine symptoms after consuming X-Tract Nature, which led the doctor to suspect possible adulteration of the product.

From Wednesday, HSA will be carrying out advertisements in local papers, over the radio, and online and mobile platforms to educate the public on the dangers of buying medicines from dubious sources, as part of its ongoing campaign efforts.

- CNA/ck/fl

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Mixed reactions by S'poreans to measures introduced in Budget 2013

Mixed reactions by S'poreans to measures introduced in Budget 2013
By Monica Kotwani | Posted: 25 February 2013 2342 hrs

SINGAPORE: Singaporeans MediaCorp spoke with had mixed reactions to some of the measures introduced in the Budget.

While many looked forward to more direct assistance such as extra GST voucher and Medisave top-ups to help them cope with rising cost of living, some also welcomed news of the foreign domestic worker levy being lowered from S$170 to S$120 for those with dependents.

Chelvi Sinappan, an administrator, said: "Everybody will be very happy, especially those who are having old parents... school-going children. It will be very helpful. It is good news actually."

Account specialist Koreen Seng described the measures as one-off and that it will not help Singaporeans in the long run.

Many also welcomed the government's move to raise wages for those earning S$4,000 and below by partially co-funding wage increases by employers.

"Raising wages, yes, probably it will help. But is it corresponding to the inflation rate? If it is not commensurate, then you still can't afford the same basket of goods," said Nora Aziz, a financial analyst.

For young couple Peter and Shirley Cheng, the Wage Credit Scheme comes in timely.

Mr Cheng said: The (income) gap is becoming bigger and bigger. It's the right time for the government to come in to help the poor people."

"It is a good calculated move, but the results, we won't know until it's tested," said Mrs Cheng.

- CNA/fa

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Progressive property tax rates unlikely to dampen investor sentiment: analysts

Progressive property tax rates unlikely to dampen investor sentiment: analysts
By Millet Enriquez | Posted: 25 February 2013 2322 hrs
     
SINGAPORE: The new set of progressive tax rates introduced in Budget 2013 will see high-end property owners paying more in property taxes.

While the tax bill may be higher for the rich in percentage terms, analysts say this may not dampen investor sentiment to buy luxury properties.

From January 2014, properties with higher annual values will be taxed at higher rates.

With a tax rate of between zero and 15 per cent, there will be a significant gap in the property tax bill between mass and higher-end homes.

Still, analysts said most high-end home owners will just take this in stride.

Nicholas Mak, executive director of research and consultancy at SLP International, explained: "The increase may seem substantial. It can range anywhere from 20 per cent to 70 per cent in some cases. But if we look at it in absolute quantum, in thousands of dollars, the increase is only a few thousands of dollars. And I think if the person is able to spend a few million dollars on a high-end luxury property, I believe they can well afford this increase in property tax."

Experts said this latest move is not an extension of property cooling measures.

While this could make some buyers rethink their plans, experts said such prime luxury properties will continue to remain attractive.

Chua Yang Liang, head of research and consultancy at Jones Lang LaSalle, said: "By and large, I don't think you will see a major shift because the high-end market, they are established neighbourhoods. The likes of (Districts) 9, 10 and 11 still command certain premium. It may see some downside risk, but I don't think it will see a large impact."

Alan Lau, a corporate tax partner at KPMG, said: "If you compare Singapore against Hong Kong, these are two very similar countries with similarly high residential property prices that the respective governments are trying very hard to cool down. So I think even after this latest round of property tax increases for non-owner occupied residential properties, we do not think that it will actually put Singapore in an inferior position compared to Hong Kong."

Analysts said the new progressive tax rates could have marginal impact on yield and may see some corporates and high-end investors looking to commercial and suburban properties as alternatives.

Overall, they said the government's move to cut foreign workers is the one that will soften demand for mass market property and rents.

- CNA/fa

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Businesses feel Budget 2013 incentives fail to address labour constraints

Businesses feel Budget 2013 incentives fail to address labour constraints
By Yvonne Chan, Sharon See | Posted: 25 February 2013 2245 hrs
     
SINGAPORE: "Shape-up or ship-out" - this is the message some businesses are taking from the productivity drive announced in Budget 2013.

Under Budget 2013's Productivity and Innovation Credit (PIC) Bonus scheme, businesses that spend S$5,000 or more on PIC activities in a year will receive a dollar for dollar bonus of up to S$15,000, over three years.

Other productivity incentives include a Land grant, aimed at intensifying land use and an incentive for sector-wide collaboration to achieve industry productivity goals.

The Land Productivity grant for companies is aimed at businesses that intensify land use in Singapore. The new incentives also include enhancing the Collaborative Industry Projects and a broadening of the Partnerships for Capability Transformation (PACT) scheme.

Still, companies are concerned the incentives fail to address the severe labour constraints which is likely made worse for many by the higher foreign worker levies announced in Budget 2013 and lower dependency ratio.

Synnovate Solutions, an integrated dishwashing company, serves 17 Singapore restaurants, 365 days a year.

Its founder and chief executive officer Lawrence Low said he may have to shut down his business due to the shortage of manpower.

"At the end of the day where the service sector is concerned, it is actually a human business. Singaporeans are not used to taking up hard sweaty dirty hot humid jobs and that is hard to change. By stopping the flow of foreign workers in this area, we are basically stopping the economy at least in this area," said Mr Low.

He added: "With this further cut, I don't think rental is going to come down, labour cost is going to go up. I think I will close and leave. The bigger problem is availability of manpower. That is the game call now at the moment. A lot of business are shutting or changing the way they work and cutting corners."

The Association of Small and Medium Enterprises (ASME) said it boils down to "survival of the fittest".

ASME president Chan Chong Beng said: "Either the company adopt or embrace the changes, re-look the business model or they be prepared to face the worst scenario. The government is not going to give you more workers. That has been stated very clearly and also within industries itself, some of the disparities are very big. If those people who think they really can't embrace productivity, they have to look for alternatives."

To improve productivity, Synnovate said rather than spending money on new machines, it changed the process of doing business, resulting in economies of scale.

As such, the company is not too enthused about the extra benefits from the Productivity and Innovation Credit (PIC) Bonus for 2013.

Mr Low said: "I have not applied for the PIC in my first year because I was too busy covering losses. In the second year, I was not familiar with the process so I engaged KPMG to help us and we paid them a fee. The documents were submitted months back but I have not received my money yet. First we have to spend, then we have to wait. If it takes too long to come back, we will be closed by the time they come back with the money."

On the Budget's impact on companies, Members of Parliament said it will take time for SMEs to make adjustments and restructure but they also urged the companies to take advantage of the new schemes.

Jessica Tan, Member of Parliament for East Coast GRC, said: "I think companies will have to change but at the same time, take advantage of the schemes. The schemes are not one-off, the schemes are over a few years, so they have got to be sustained schemes to help the companies. In that sense, I would say to the companies, this is the time to look at it. The message is clear, companies will have to restructure. It will have some pain given some of the further tightening."

Member of Parliament for Ang Mo Kio GRC, Inderjit Singh, touched on how SMEs will be affected in the short-term.

"There are a number of schemes but I still worry about the short-term impact about the tightening labour force, especially the foreign workers. We probably should have slowed down a bit and then accelerated later on."

Analysts said 2013 will be an even tougher year for small businesses and the sectors hardest hit by the government's latest budget measures will be the healthcare, construction, processing and services industries.

As such, they are expecting more businesses to shut down, consolidate or even re-locate.

- CNA/fa

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Sim City

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Dennis Chew leaves Y.E.S. 93.3FM after 20 years on air

Dennis Chew leaves Y.E.S. 93.3FM after 20 years on air
Posted: 18 February 2013 1654 hrs
    
SINGAPORE: Singapore deejay Dennis Chew revealed Monday that he will be moving to radio station Love 97.2FM in March, after 20 years with Y.E.S. 93.3FM.

The popular deejay, who turns 40 this year, explained that he decided to join Love 97.2FM because he wanted to "break out of my comfort zone".

"I hope that the new environment will spur me to experiment with different presentation styles and come up with fresh ideas," said Chew.

Chew, who started his career with Capital Radio 95.8FM before heading to Y.E.S. 93.3FM, will be the first deejay to have worked in all three MediaCorp Chinese-language radio stations, when he joins the Love 97.2FM crew.

He will be co-hosting the evening show on Love 97.2FM with fellow deejay Chua Lee Lian every weekday, 5-8pm from March 18.

"I love this guy and am looking forward to working together with him," said Chua.

"I can imagine laughing a lot and bouncing off lots of crazy ideas with him. I hope I won't get wrinkles from all the laughing."

-CNA/ha

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Budget 2013: Higher income cap, bigger payouts for WIS scheme

Budget 2013: Higher income cap, bigger payouts for WIS scheme
By Tan Qiuyi | Posted: 25 February 2013 1706 hrs
     
SINGAPORE: The Workfare Income Supplement (WIS) scheme will now cover workers earning up to S$1,900 a month. This is S$200 more than the previous cap.

About 480,000 Singaporean workers or about 30 per cent of the citizen workforce will benefit from the new cap.

Payouts will also be raised by between 25 and 50 per cent, depending on age.

The cash component will also be higher. Workers will now get 40 per cent of Workfare in cash, up from 29 per cent.

CPF contribution rates for low-income workers will also be raised to the same level as those for higher income workers.

Finance Minister Tharman Shanmugaratnam, who announced these changes in his Budget Statement on Monday, said with higher WIS payouts, even with more being paid in cash, workers will still receive more in WIS top-ups to their CPF accounts.

- CNA/fa

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Budget 2013: More progressive tax structure for properties and cars

Budget 2013: More progressive tax structure for properties and cars
By Hetty Musfirah | Posted: 25 February 2013 1723 hrs
     
SINGAPORE: A more progressive tax structure will be introduced for properties and cars to achieve greater social equity without hurting Singapore's competitiveness.

The zero per cent property tax rate band, which currently applies to the first S$6,000 of annual value of properties will be widened to S$8,000.

Currently, property tax rates for owner-occupied residential property are at zero per cent, four per cent and six per cent, depending on the annual values of the properties.

In addition to the current four per cent and six per cent tax bands, the government will introduce new bands of eight per cent to 16 per cent.

Deputy Prime Minister Tharman Shanmugaratnam, who announced these changes in his Budget Statement on Monday, said 950,000 owner-occupied residential properties will be able to enjoy some tax savings.

High-end investment properties will also see significant increases in tax rates.

Instead of the current rate of 10 per cent flat, they will be increased to between 12 per cent and 20 per cent.

As for passenger cars and taxis, there will be a new tiered Additional Registration Fee (ARF) structure.

The ARF for car models with an Open Market Value of more than S$20,000 of vehicle's open market value will be 140 per cent.

Any value beyond S$50,000 will attract an ARF rate of 180 per cent.

The changes will apply to vehicles registered with Certificates of Entitlement obtained from the first bidding exercise in March 2013.

- CNA/fa

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Budget 2013: More cash in assistance & higher allowance for pensioners

Budget 2013: More cash in assistance & higher allowance for pensioners
By Vimita Mohandas | Posted: 25 February 2013 1735 hrs
     
SINGAPORE: The public assistance scheme, which provides a basic level of financial assistance to those who are unable to work, will be enhanced.

A couple will now receive S$90 more per month for a total of $790 in cash assistance while a recipient in a single-person household will receive S$450 in cash.

Government pensioners will also see their allowance increase by S$20 to S$280 per month. Their monthly pension ceiling will be raised to S$1,210.

Deputy Prime Minister Tharman Shanmugaratnam announced these changes in his Budget Statement on Monday.

The government will also improve its social service delivery to make it easier for people to get help.

About 20 Social Service Offices in HDB towns will be rolled out over the next few years.

Eldercare services will also be integrated.

Aged care services of the Centre for Enabled Living and the Agency for Integrated Care (AIC) will be integrated under one roof at AIC.

The Ministry of Social and Family Development will strengthen its focus on persons with disabilities with an agency dedicated to the disabled.

An additional S$200 million will be injected into the ComCare Fund, while another S$10 million grant will be given to the self-help groups.

- CNA/fa

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MAS imposes restrictions on private car loans

MAS imposes restrictions on private car loans
By Sing Geok Shan | Posted: 25 February 2013 1918 hrs
     
SINGAPORE: The Monetary Authority of Singapore is imposing restrictions on loans for private cars to safeguard against borrowers defaulting on their repayments.

Beginning on February 26, the central bank said consumers will be limited to borrowing 60 per cent of the purchase price of a motor vehicle when the open market value (OMV) is S$20,000 or less.

A tighter limit of 50 per cent will be imposed when the OMV is more than S$20,000.

The MAS is also capping the tenure of a motor vehicle loan at five years.

"The financing restrictions are necessary to encourage financial prudence among buyers," the MAS said in a statement.

"In this prolonged environment of very low interest rates, there is greater risk of buyers over-extending themselves," it said.

The new restrictions do not apply to loans for either commercial vehicles or for motorcycles.

For re-financing facilities, only the cap on loan tenure applies.

The MAS previously had in place financing restrictions on car loans from February 1995 to January 2003.

- CNA/fa

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Budget 2013: Elderly, lower-income families welcome help

By Elizabeth Soh | Yahoo! Newsroom

• 
  Yahoo! Newsroom/Screengrab - DPM Tharman gave his Budget speech in Parliament on Monday

Deputy Prime Minister Tharman Shanmugaratnam's budget speech on Monday was met with a generally positive reaction from Singaporeans.

In particular, the Budget's heavy focus on fighting income inequality and providing more support for lower-income families as well as the elderly drew good feedback from its beneficiaries, who said that some of their bread and butter issues would be alleviated by the new measures.

Elderly, lower income families

Retired seamstress Goh Ah Moi, 67, said that she was very happy that the Government would be providing subsidies of up to 80 per cent to defray the costs of daily consumerables like milk feeds, diapers as well as assistive devices like wheelchairs.

The existing Senior's Mobility Fund will be expanded into a Senior's Mobility and Enabling fund covering a wide range of medical assistive devices and topped up to $50 million. The ElderCare Fund will also be raised by $250 million to $3 billion this year to support patients tapping on subsidised nursing homes and other long-term care services.

"It sounds like it can really help us save a lot of money. I worry every day about how to afford Ensure for my husband, the cost of taking care of him keeps rising every month and I feel bad for our kids," said Mdm Goh in Mandarin. She takes care of her bed-ridden 75-year-old husband, who must be fed milk through a tube and supervised 24/7 since suffering a stroke four months ago.

"Maybe after this we can afford a wheelchair, and I can bring my husband out. He's been stuck at home for the past three months because we can't buy one."

Their two children earn only $1,500 and $1,800 doing odd-jobs and delivering goods and have been struggling with the cost of a domestic helper as well as occasional home nurse costs for their elderly father.

For grandmother Habsah Binte Hassan, 82, the one-off $200 top up to her CPF Medisave Account will help with her worries about affording medical treatment.

"I feel glad and relieved that I can save extra money," said Mdm Habsah, who recently had an eye operation and suffers from high-blood pressure.

The $500 she was receiving twice a year in her Medisave had been enough to cover the cost of treating her eyes but she was concerned about how she would afford medical treatment if her condition worsened, as her four children are all lower or lower-middle income earners with families of their own.

Families with young children, multi-generation households

Families with young children felt initiatives rolled out by DPM Tharman in the areas of pre-school education were a step in the right direction, but felt that more could still be done to help with rising costs of living.

“I think it’s good that the government will be spending so much more on the pre-school sector and expanding capacity, but this is something that should have already been done before to prevent the lack of places and rising costs of childcare,” said bank executive and father of two child-care going children Jason Chen, 34.

“I’m glad that they are acknowledging that there are these huge problems but I’m not grateful. Childcare is something the government needs to provide and support and I hope these promises are really kept.”

Chen’s reaction was to news that the Government would be doubling its expenditure on the pre-school sector over the next five years to over $3 billion as well as bringing in more operators into the childcare Anchor Operator Scheme with the aim of providing another 16,000 additional places by 2017.

Conservancy rebates were dismissed as one-off ‘angpows’ that would not go a long way in alleviating their financial burdens, but others noted that the reduction of levies on domestic helpers would definitely help.

“I can save at least $500 a year with the lower levy, and that’s really quite a lot as money is really tight,” said bank manager Foo Chern How, 42, who supports his wife, three children and two elderly parents, one of whom requires frequent medical assistance, on a $6,000 salary.

Families with children, elderly parents, or members with disabilities will pay $120 down from $170 with effect from March 2013, saving each of these households an average of $600 a year.

Entrepreneurs, business owners adopting cautious attitudes

IT Entrepreneur Mohamad Imran, 29, welcomed the Budget’s move to rely less on foreign labour and more on training schemes to boost Singapore's workforce.

“We believe that the Budget takes a pragmatic but positive stance, and we view the policies as largely positive, because while the labour supply for businesses will be restricted and wages will increase, there are measures to help businesses cope with these constraints while promoting Singaporean jobs,” said Mohamad.

However, while he saw the initial announcements as pro-business, he said that most industry players would adopt a wait-and-see attitude until actual details were released by the related ministries.

With additional reporting by Rahimah Rashith and Nurul Azliah

- wong chee tat :)

Denial of tenure to NTU associate professor sparks outcry

By Shah Salimat |

• 
  An outcry over academic freedom in Singapore has been sparked after an outspoken professor for journalism in Nanyang Technological University was denied tenure (Yahoo! file photo)  less 

An outspoken associate professor for journalism in Nanyang Technological University (NTU) has been denied tenure, sparking an outcry and raising questions over academic freedom in Singapore.

Cardiff University professor Karin Wahl-Jorgensen tweeted Saturday morning that Cherian George, associate professor at NTU’s Wee Kim Wee School of Communication and Information (WKWSCI), was denied tenure “on the grounds of quality of teaching and research”.

In subsequent tweets, Wahl-Jorgensen, who revealed that she was one of the reviewers for George’s case, said she was “outraged” at the decision not to grant him tenure, and that it could have been “because he sometimes expressed political opinions”.

An adjunct senior research fellow at the Institute of Policy Studies and former journalist with The Straits Times, George has spoken out against media control and has been critical of the ruling People’s Action Party. He joined NTU in 2004.

Wahl-Jorgensen alluded to NTU’s decision being detrimental “for academic freedom” and said it raised “big question marks about international collaborations” with Singapore and NTU.

She said also said George’s application was “watertight” and believed the board’s decision “made no sense on grounds of research and teaching”.

Tenure would give him the contractual right not to have his position terminated without just cause. George was previously denied tenure once in 2009.

Petition started

In reaction to the news, an online petition was set up by final-year WKWSCI student Bhavan Jaipragas to urge the NTU board to “affirm (George’s) stellar teaching credentials and disclose the reasons behind the decision to deny his tenure”. The petition had 308 signatures as of press time, shy of the 350 mark set by the petition.

“We felt it was very important any impression that Dr George's teaching skills were sub-par had to be quickly demolished. We also want the school and university to… categorically dispel claims of curtailment of academic freedom in NTU,” said Jaipragas to Yahoo! Singapore.

Jaipragas said he heard of the news from several sources over the weekend, before such tipoffs were confirmed by Wahl-Jorgensen’s tweets. He said he will deliver hard copies of the petition with the list of signatories to four key members of the NTU leadership, including NTU president Bertil Andersson.

In one of the petition’s comments, associate professor William Ray Lengenbach, head of media at Sunway University College, said, “Cherian George is a significant regional intellectual and his views on Singapore politics should have no bearing on his tenure. If there indeed is government pressure on the university's decisions, it is time for academic staff and administration to stand up against such pressures.”

Among the students who have spoken out against the alleged grounds, alumnus Johnson Zhang commended George for being friendly and knowledgeable. “To say that the quality of Dr George's teaching was 'sub-par' would be an insult to us graduates who had the honour of learning from him,” said Zhang.

“As someone who has worked with Dr George for close to two decades, I am dumbfounded by the news. I don't know of many professors in NTU who give as much to the students, even fewer who have clear vision of how a great journalism department in an university can be and should be,” said WKWSCI photojournalism lecturer Tay Kay Chin in a post on Facebook.

George declined comment when approached by Yahoo! Singapore.

When contacted by Yahoo! Singapore, an NTU spokesperson said the institution will issue a statement Tuesday.

Last year, the issue of academic freedom was raised in relation to the launch of the Yale-NUS College, a partnership with Yale University and the National University of Singapore (NUS). Yale members passed a resolution expressing their concern restriction of civil liberties in Singapore.

- wong chee tat :)