Really funny...
Had a unbearable stomach cramp. What on earth is happening?
- wong chee tat :)
Wednesday, July 31, 2013
Still Sickish
Still feeling sickish....
Seems there are others who are coughing and sneezing too...
- wong chee tat :)
Seems there are others who are coughing and sneezing too...
- wong chee tat :)
Tuesday, July 30, 2013
Sick
The whole day I am feeling sickish.... leaving me in a lousy mood
Got to drink lots of water and eat fresh fruits and vegetables
- wong chee tat :)
Got to drink lots of water and eat fresh fruits and vegetables
- wong chee tat :)
Monday, July 29, 2013
AGC drops action against cartoonist under Sedition Act
AGC drops action against cartoonist under Sedition Act
POSTED: 29 Jul 2013 3:15 PM
Singapore's Attorney-General's Chambers (AGC) said it will not be taking further action against Chew Peng Ee, also known as Leslie Chew, for offence under the Sedition Act.
SINGAPORE: Singapore's Attorney-General's Chambers (AGC) said it will not be taking further action against Chew Peng Ee, also known as Leslie Chew, for offences under the Sedition Act.
It said the public prosecutor arrived at the decision after reviewing the evidence in the investigation papers that the police submitted.
Chew was arrested on 19 April 2013 as part of investigations into whether he had committed offences under the Sedition Act for his publication of the comic series "Demon-cratic Singapore" on Facebook.
He was released on bail on 21 April 2013, and has remained on bail since.
With the AGC's decision on Monday, his police bail will be allowed to lapse, and his passport, which was surrendered as a condition of bail, will be returned to him.
AGC said Chew was informed of the decision earlier Monday.
However, the legal proceedings against Chew for contempt of court will continue.
In its statement Monday, the AGC reiterated that issues related to a pending case before a court should be discussed within the court itself.
- CNA/xq
- wong chee tat :)
POSTED: 29 Jul 2013 3:15 PM
Singapore's Attorney-General's Chambers (AGC) said it will not be taking further action against Chew Peng Ee, also known as Leslie Chew, for offence under the Sedition Act.
SINGAPORE: Singapore's Attorney-General's Chambers (AGC) said it will not be taking further action against Chew Peng Ee, also known as Leslie Chew, for offences under the Sedition Act.
It said the public prosecutor arrived at the decision after reviewing the evidence in the investigation papers that the police submitted.
Chew was arrested on 19 April 2013 as part of investigations into whether he had committed offences under the Sedition Act for his publication of the comic series "Demon-cratic Singapore" on Facebook.
He was released on bail on 21 April 2013, and has remained on bail since.
With the AGC's decision on Monday, his police bail will be allowed to lapse, and his passport, which was surrendered as a condition of bail, will be returned to him.
AGC said Chew was informed of the decision earlier Monday.
However, the legal proceedings against Chew for contempt of court will continue.
In its statement Monday, the AGC reiterated that issues related to a pending case before a court should be discussed within the court itself.
- CNA/xq
- wong chee tat :)
Private home resale prices down for second straight month
Private home resale prices down for second straight month
POSTED: 29 Jul 2013 10:17 PM
Resale prices of private homes slipped 0.4 per cent in June from May, the second straight month of declines.
SINGAPORE: Resale prices of private homes slipped 0.4 per cent in June from May, the second straight month of declines.
In May, resale home prices edged 0.2 per cent lower from a month earlier.
The price dip in June was largely due to price falls in the central region and small units, according to the latest Singapore Residential Price Index (SRPI) flash estimates published by the National University of Singapore's Institute of Real Estate Studies on Monday.
Prices of private homes within the central region fell by 1.5 per cent in June, reversing the gains it recorded in May.
Meanwhile the price of small units, defined as 506 square feet or less, continued their month-on-month decline, falling 1 per cent in June, after May's 1.3 per cent decline.
In contrast, prices of resale homes in the non-central region rose 0.5 per cent, up from May's 1.5 per cent drop.
Nicholas Mak, the executive director for research and consultancy at SLP International Property Consultants, noted that the price index for shoebox apartments peaked in April and was slowly retreating as investors grew more cautious about investment potential.
He also added that in the first half of 2013, the SRPI varied between a narrow range of 158.2 and 163.0, which suggested that private resale prices may be hitting a plateau.
Recent quarterly figures from the Urban Redevelopment Authority (URA) showed a slight increase in prices for private homes.
According to the URA, prices for private residential properties rose 1 per cent in the second quarter of 2013, higher than the previous quarter's 0.6 per cent growth.
- CNA/nd
- wong chee tat :)
POSTED: 29 Jul 2013 10:17 PM
Resale prices of private homes slipped 0.4 per cent in June from May, the second straight month of declines.
SINGAPORE: Resale prices of private homes slipped 0.4 per cent in June from May, the second straight month of declines.
In May, resale home prices edged 0.2 per cent lower from a month earlier.
The price dip in June was largely due to price falls in the central region and small units, according to the latest Singapore Residential Price Index (SRPI) flash estimates published by the National University of Singapore's Institute of Real Estate Studies on Monday.
Prices of private homes within the central region fell by 1.5 per cent in June, reversing the gains it recorded in May.
Meanwhile the price of small units, defined as 506 square feet or less, continued their month-on-month decline, falling 1 per cent in June, after May's 1.3 per cent decline.
In contrast, prices of resale homes in the non-central region rose 0.5 per cent, up from May's 1.5 per cent drop.
Nicholas Mak, the executive director for research and consultancy at SLP International Property Consultants, noted that the price index for shoebox apartments peaked in April and was slowly retreating as investors grew more cautious about investment potential.
He also added that in the first half of 2013, the SRPI varied between a narrow range of 158.2 and 163.0, which suggested that private resale prices may be hitting a plateau.
Recent quarterly figures from the Urban Redevelopment Authority (URA) showed a slight increase in prices for private homes.
According to the URA, prices for private residential properties rose 1 per cent in the second quarter of 2013, higher than the previous quarter's 0.6 per cent growth.
- CNA/nd
- wong chee tat :)
Sunday, July 28, 2013
Saturday, July 27, 2013
Judicial review of judge’s decision to deny Alvin Tan and Vivian Lee bail to be heard this Thursday
Judicial review of judge’s decision to deny Alvin Tan and Vivian Lee bail to be heard this Thursday
23 Jul 2013 01:46am
KUALA LUMPUR: The High Court today set this Thursday to hear the application for leave for judicial review filed by controversial couple Alvin Tan and Vivian Lee over the Sessions Court judge’s decision to deny them bail.
The duo’s lawyer, Chong Joo Tian, told reporters that the application was filed on July 19 and would be heard by High Court Judge Mohd Azman Husin.
They were charged with three counts of mocking Muslims and the holy month of Ramadan and posting pornographic pictures on their blog.
The claimed that Judge Murtazadi Amran had erred in law by denying them bail as they had no prior criminal record.
Tan, 24, and Lee, 25, further claimed that there were no grounds for the prosecution’s submission that they had a tendency to commit the same offence if released on bail.
The couple submitted that all their electronic equipment and computers had been seized by the Malaysian Communication and Multimedia Commission (MCMC) and if there was a risk of repeating the offence the court could have set conditions for the bail.
Tan and Lee also said they did not pose a flight risk as their families lived in Malaysia and even if there was their passports could have been impounded.
On July 18, Judge Murtazadi denied Alvin Tan (Tan Jye Yee) and Vivian Lee (Lee May Ling) bail, pending their trial on the grounds that the case was a matter of public interest.
Tan is being detained at the Sungai Buloh Prison while Lee is in the Kajang Prison.
They were jointly accused of making a seditious posting on ‘Alvin and Vivian – Alvivi’ Facebook site (https://www.facebook.com/alvivi.swingers) with a photo of themselves eating ‘bak kut teh’ (a pork dish) with the greeting ‘Selamat Berbuka Puasa (Happy Breaking Fast) with bak kut teh, fragrant, delicious and appetising’, with a halal logo as well.
On the second charge, Tan and Lee were accused of posting pornographic pictures on http://alviviswingers.tumblr.com/ at the same place between 9pm and 2am from July 6 and 7.
The duo were also charged with posting on their own Facebookpages the same picture (bak kut teh picture) and comments which were likely to cause religious enmity between people of different faiths.
Deputy public prosecutor Noorin Badaruddin, who led the prosecution, had applied for both the accused to be denied bail as the charges they faced were under Section 298A (1) (a) of the Penal Code and Film Censorship Act, which were non-bailable offences.
- Bernama
- wong chee tat :)
23 Jul 2013 01:46am
KUALA LUMPUR: The High Court today set this Thursday to hear the application for leave for judicial review filed by controversial couple Alvin Tan and Vivian Lee over the Sessions Court judge’s decision to deny them bail.
The duo’s lawyer, Chong Joo Tian, told reporters that the application was filed on July 19 and would be heard by High Court Judge Mohd Azman Husin.
They were charged with three counts of mocking Muslims and the holy month of Ramadan and posting pornographic pictures on their blog.
The claimed that Judge Murtazadi Amran had erred in law by denying them bail as they had no prior criminal record.
Tan, 24, and Lee, 25, further claimed that there were no grounds for the prosecution’s submission that they had a tendency to commit the same offence if released on bail.
The couple submitted that all their electronic equipment and computers had been seized by the Malaysian Communication and Multimedia Commission (MCMC) and if there was a risk of repeating the offence the court could have set conditions for the bail.
Tan and Lee also said they did not pose a flight risk as their families lived in Malaysia and even if there was their passports could have been impounded.
On July 18, Judge Murtazadi denied Alvin Tan (Tan Jye Yee) and Vivian Lee (Lee May Ling) bail, pending their trial on the grounds that the case was a matter of public interest.
Tan is being detained at the Sungai Buloh Prison while Lee is in the Kajang Prison.
They were jointly accused of making a seditious posting on ‘Alvin and Vivian – Alvivi’ Facebook site (https://www.facebook.com/alvivi.swingers) with a photo of themselves eating ‘bak kut teh’ (a pork dish) with the greeting ‘Selamat Berbuka Puasa (Happy Breaking Fast) with bak kut teh, fragrant, delicious and appetising’, with a halal logo as well.
On the second charge, Tan and Lee were accused of posting pornographic pictures on http://alviviswingers.tumblr.com/ at the same place between 9pm and 2am from July 6 and 7.
The duo were also charged with posting on their own Facebookpages the same picture (bak kut teh picture) and comments which were likely to cause religious enmity between people of different faiths.
Deputy public prosecutor Noorin Badaruddin, who led the prosecution, had applied for both the accused to be denied bail as the charges they faced were under Section 298A (1) (a) of the Penal Code and Film Censorship Act, which were non-bailable offences.
- Bernama
- wong chee tat :)
High Court allows sex bloggers Alvin Tan and Vivian Lee to be free on bail
High Court allows sex bloggers Alvin Tan and Vivian Lee to be free on bail
25 Jul 2013 12:13pm
Notorious sex bloggers Alvin and Vivian leaving the MCMC office at 9.30pm last night.
KUALA LUMPUR: Sex bloggers Alvin Tan and Vivian Lee have been allowed to be freed on bail of RM30,000 each, with two sureties, by the High Court here.
High Court judge Mohd Azman Husin set bail at RM10,000 on each of the three charges Tan and Lee are facing.
He also imposed three conditions – that the two must not upload materials or have access to smart network devices to upload religious and racially sensitive material. Their passports were also impounded.
Judge Azman, who made the decision in chambers, also ordered the couple to report to the nearest police station on the first of every month.
This follows the couple’s application for a revision of the Sessions Court’s decision to deny them bail, Malaysiakini reported.
- wong chee tat :)
25 Jul 2013 12:13pm
Notorious sex bloggers Alvin and Vivian leaving the MCMC office at 9.30pm last night.
KUALA LUMPUR: Sex bloggers Alvin Tan and Vivian Lee have been allowed to be freed on bail of RM30,000 each, with two sureties, by the High Court here.
High Court judge Mohd Azman Husin set bail at RM10,000 on each of the three charges Tan and Lee are facing.
He also imposed three conditions – that the two must not upload materials or have access to smart network devices to upload religious and racially sensitive material. Their passports were also impounded.
Judge Azman, who made the decision in chambers, also ordered the couple to report to the nearest police station on the first of every month.
This follows the couple’s application for a revision of the Sessions Court’s decision to deny them bail, Malaysiakini reported.
- wong chee tat :)
Sex bloggers Alvin Tan and Vivian Lee officially set free at 10.20am
Sex bloggers Alvin Tan and Vivian Lee officially set free at 10.20am
26 Jul 2013 11:26am
Alvin Tan and Vivian Lee arriving at the MCMC office for questioning on July 15..
KUALA LUMPUR: Notorious sex bloggers Alvin Tan and Vivian Lee left the Jalan Duta court complex at 10.20am in separate cars after their family members posted bail.
Yesterday, the High Court allowed them to be out onbail of RM30,000 each, with two sureties, after they applied for a revision of the Sessions Court’s decision to deny them bail.
High Court judge Mohd Azman Husin set bail at RM10,000 on each of the three charges Tan and Lee are facing.
He also imposed three conditions – that the two must not upload materials or have access to smart network devices to upload religious and racially sensitive material. Their passports were also impounded.
Judge Azman, who made the decision in chambers, also ordered the couple to report to the nearest police station on the first of every month.
The two had spent almost a week in jail.
- wong chee tat :)
26 Jul 2013 11:26am
Alvin Tan and Vivian Lee arriving at the MCMC office for questioning on July 15..
KUALA LUMPUR: Notorious sex bloggers Alvin Tan and Vivian Lee left the Jalan Duta court complex at 10.20am in separate cars after their family members posted bail.
Yesterday, the High Court allowed them to be out onbail of RM30,000 each, with two sureties, after they applied for a revision of the Sessions Court’s decision to deny them bail.
High Court judge Mohd Azman Husin set bail at RM10,000 on each of the three charges Tan and Lee are facing.
He also imposed three conditions – that the two must not upload materials or have access to smart network devices to upload religious and racially sensitive material. Their passports were also impounded.
Judge Azman, who made the decision in chambers, also ordered the couple to report to the nearest police station on the first of every month.
The two had spent almost a week in jail.
- wong chee tat :)
Sex blogger Alvin Tan says prison stint was ‘not bad’
Sex blogger Alvin Tan says prison stint was ‘not bad’
26 Jul 2013 05:54pm
KUALA LUMPUR: Sex blogger Alvin Tan said his eight-day prison stint was “not bad”.
Soon after Alvin and Vivian Lee signed their release documents this morning, reporters rushed up to them and asked how it was like in prison and Alvin said with a smile, “Not bad.”
Vivian kept her head down and did not respond.
Chong Joo Tian, their counsel, said his clients were “quite happy to be out of prison”.
He added: “They need time to rest. We will take it from here.”
Alvin’s mother posted bail for both of them.
- wong chee tat :)
26 Jul 2013 05:54pm
KUALA LUMPUR: Sex blogger Alvin Tan said his eight-day prison stint was “not bad”.
Soon after Alvin and Vivian Lee signed their release documents this morning, reporters rushed up to them and asked how it was like in prison and Alvin said with a smile, “Not bad.”
Vivian kept her head down and did not respond.
Chong Joo Tian, their counsel, said his clients were “quite happy to be out of prison”.
He added: “They need time to rest. We will take it from here.”
Alvin’s mother posted bail for both of them.
- wong chee tat :)
People urged to monitor social media for any posts by Alvin Tan and Vivian Lee
People urged to monitor social media for any posts by Alvin Tan and Vivian Lee
27 Jul 2013 08:23pm
KUALA TERENGGANU, July 27 — Communication and Multimedia Deputy Minister Datuk Jailani Johari has urged members of the public to monitor controversial couple Alvin Tan and Vivian Lee’s blog for any possible seditious posts.
“I urge the public to help monitor the couple’s blog and social networking sites and report the same to the authorities,” he told reporters here today.
Commenting on their conditional release on bail yesterday, Jailani said stern action would be taken against the bloggers if they breached the court’s conditions.
Yesterday, High Court judge Datuk Mohd Azman Husin released them on RM30,000 bail in one surety each, with four conditions.
The conditions are, their passports are compounded, they must report to the nearest police station once a month, are prohibited from posting obscene photographs, provocative comments or articles which touch on religious and racial sensitivities, and prohibited from using network communication devices for the same purpose.
Tan or Tan Jye Yee, 25, and Vivian Lee May Ling, 24, were jointly charged with posting a seditious photograph on their Facebook page, ‘Alvin and Vivian – Alvivi’ at https://www.facebook.com/alvivi.swingers, with the caption, “Selamat Berbuka Puasa (dengan Bak Kut Teh…wangi, enak, menyelerakan !!!” (Happy Breaking Fast with Bak Kut Teh…fragrant, delicious and appetising!!!) and a halal logo.
Meanwhile, on a separate development he said that the Ministry planned to expand the ‘Klik dengan bijak’ programme nationwide, through the Malaysian Communication and Multimedia Commission.
He said the move was to create awareness among the people on the importance of correct internet usage.
“Clicking the wrong thing can land you in trouble as we can see from numerous cases involving blogs, face book and so on,” he added. – BERNAMA
- wong chee tat :)
27 Jul 2013 08:23pm
KUALA TERENGGANU, July 27 — Communication and Multimedia Deputy Minister Datuk Jailani Johari has urged members of the public to monitor controversial couple Alvin Tan and Vivian Lee’s blog for any possible seditious posts.
“I urge the public to help monitor the couple’s blog and social networking sites and report the same to the authorities,” he told reporters here today.
Commenting on their conditional release on bail yesterday, Jailani said stern action would be taken against the bloggers if they breached the court’s conditions.
Yesterday, High Court judge Datuk Mohd Azman Husin released them on RM30,000 bail in one surety each, with four conditions.
The conditions are, their passports are compounded, they must report to the nearest police station once a month, are prohibited from posting obscene photographs, provocative comments or articles which touch on religious and racial sensitivities, and prohibited from using network communication devices for the same purpose.
Tan or Tan Jye Yee, 25, and Vivian Lee May Ling, 24, were jointly charged with posting a seditious photograph on their Facebook page, ‘Alvin and Vivian – Alvivi’ at https://www.facebook.com/alvivi.swingers, with the caption, “Selamat Berbuka Puasa (dengan Bak Kut Teh…wangi, enak, menyelerakan !!!” (Happy Breaking Fast with Bak Kut Teh…fragrant, delicious and appetising!!!) and a halal logo.
Meanwhile, on a separate development he said that the Ministry planned to expand the ‘Klik dengan bijak’ programme nationwide, through the Malaysian Communication and Multimedia Commission.
He said the move was to create awareness among the people on the importance of correct internet usage.
“Clicking the wrong thing can land you in trouble as we can see from numerous cases involving blogs, face book and so on,” he added. – BERNAMA
- wong chee tat :)
Sex bloggers Alvin Tan and Vivian Lee behind bars till trial is over
Sex bloggers Alvin Tan and Vivian Lee behind bars till trial is over
18 Jul 2013 06:28pm
Sex blogger Alvin Tan being escorted by police to the Sessions Court today.
KUALA LUMPUR, July 18 — Sex bloggers Alvin Tan and Vivian Lee are now behind bars after they were denied bail when they pleaded not guilty to three charges at the Sessions Court here today.
Alvin Tan Jye Yee, 25, and Vivian Lee May Ling, 24, were sent to the Sungai Buloh and Kajang prisons respectively after their charges were read before judge Murtazadi Amran.
In the first charge, they were jointly accused of making a seditious posting on “Alvin and Vivian – Alvivi” Facebook (https://www.facebook.com/alvivi.swingers) by uploading a photo of themselves eating bak kut teh (a pork dish) with the greeting ‘Selamat Berbuka Puasa with bak kut teh …fragrant, delicious and appetising’ together with the ‘halal’ logo.
They allegedly committed the offence at 10.48pm between July 11 and 12 at 568-14-18, Kompleks Mutiara Jalan Ipoh, Mile 3 1/2 here.
They were charged under subsection 4 (1) (c) of the Sedition Act 1948 which is punishable under subsection 4 (1) of the same Act and read together with Section 34 of the Penal Code.
For the first offence, they face a fine up to RM5,000, an imprisonment up to three years or both.
In the second charge, Tan and Lee were accused of displaying pornographic pictures on http://alviviswingers.tumblr.com/ at the same place between 9pm and 2am between July 6 and 7.
They were charged under subsection 5 (1) of the Film Censorship Act 2002 which is punishable under subsection 5 (2) of the same Act which carries a fine of between RM10,000 and RM50,000 or imprisonment of up to five years or both, if convicted.
They were accused of uploading on their Facebook page the same picture and comment which were likely to cause religious enmity between people of different faiths.
The content was read at CAF – Syed Restaurant, Jalan Dang Wangi here at 10.48pm between July 11 and 12.
They were charged under Section 298A (1) (a) of the Penal Code which carries imprisonment of between two and five years, if convicted.
The couple looked unperturbed when the charges were read to them individually and they also responded individually by saying, “I asked to be tried”, Bernama reported.
Judge Murtazadi denied bail for both accused after taking public interest into account.
He said the court was not affected by external elements in deciding on the bail.
Earlier, Deputy Public Prosecutor Noorin Badaruddin asked the court not to grant bail to the accused as the charges under Section 298A (1) (a) of the Penal Code and the Film Censorship Act were non-bailable offences.
“Of course, we accept the court discretion to allow bail on the two charges, but the prosecution objects to any bail granted until the trial is over,” he said.
Noorin said secondly, both accused had a tendency to upload pictures that could arouse public outrage.
Chong Joo Tian, the lawyer representing both accused, applied for bail for both of them on the grounds that the charges had yet to be proven and was premature in nature.
He said the prosecution could not pre-empt that the accused had a tendency to commit similar offences as they had yet to be found guilty.
“Both my clients gave full cooperation to the MCMC (Malaysian Communications and Multimedia Commission) and the police during investigations and they do not have any criminal record and the offence they were accused of do not involve any form of violence,” he said.
On the other hand, Deputy public prosecutor Ishak Mohd Yusoff argued that the court should take the surrounding circumstances into account in determining whether bail could be granted.
“Alvin Tan is a household name and if we were to ‘Google’ only the name Alvin, pictures and articles about him will pop up, for which, if it is not controlled, it can destroy society and religion. No doubt it does not involve violence, but it is a serious offence,” he said.
Noorin asked for the three cases to be tried together under Section 170 of the Criminal Procedure Code as they entailed the same transaction and witnesses.
However, Chong asked for the second charge to be tried separately as the first and third charges involved posting pornographic pictures on different websites.
Noorin said Section 170 allowed criminal offences to be tried together even though all the three cases were different and the prosecution would prove the offences occurred in the same transaction.
Murtazadi allowed the three cases to be tried together and set Aug 23 for mention.
He also gave an opportunity to the two accused to state their reasons why bail should be granted to them.
Tan said, “I want bail. I do not have any power, position, wealth, employment or job. And all my multimedia items have been confiscated by the MCMC which would affect my tendency to upload photos and access the Internet.”
Lee, who is a kindergarten teacher, said: “I would also like to be given bail and I have the same opinion as Alvin.”
- wong chee tat :)
18 Jul 2013 06:28pm
Sex blogger Alvin Tan being escorted by police to the Sessions Court today.
KUALA LUMPUR, July 18 — Sex bloggers Alvin Tan and Vivian Lee are now behind bars after they were denied bail when they pleaded not guilty to three charges at the Sessions Court here today.
Alvin Tan Jye Yee, 25, and Vivian Lee May Ling, 24, were sent to the Sungai Buloh and Kajang prisons respectively after their charges were read before judge Murtazadi Amran.
In the first charge, they were jointly accused of making a seditious posting on “Alvin and Vivian – Alvivi” Facebook (https://www.facebook.com/alvivi.swingers) by uploading a photo of themselves eating bak kut teh (a pork dish) with the greeting ‘Selamat Berbuka Puasa with bak kut teh …fragrant, delicious and appetising’ together with the ‘halal’ logo.
They allegedly committed the offence at 10.48pm between July 11 and 12 at 568-14-18, Kompleks Mutiara Jalan Ipoh, Mile 3 1/2 here.
They were charged under subsection 4 (1) (c) of the Sedition Act 1948 which is punishable under subsection 4 (1) of the same Act and read together with Section 34 of the Penal Code.
For the first offence, they face a fine up to RM5,000, an imprisonment up to three years or both.
In the second charge, Tan and Lee were accused of displaying pornographic pictures on http://alviviswingers.tumblr.com/ at the same place between 9pm and 2am between July 6 and 7.
They were charged under subsection 5 (1) of the Film Censorship Act 2002 which is punishable under subsection 5 (2) of the same Act which carries a fine of between RM10,000 and RM50,000 or imprisonment of up to five years or both, if convicted.
They were accused of uploading on their Facebook page the same picture and comment which were likely to cause religious enmity between people of different faiths.
The content was read at CAF – Syed Restaurant, Jalan Dang Wangi here at 10.48pm between July 11 and 12.
They were charged under Section 298A (1) (a) of the Penal Code which carries imprisonment of between two and five years, if convicted.
The couple looked unperturbed when the charges were read to them individually and they also responded individually by saying, “I asked to be tried”, Bernama reported.
Judge Murtazadi denied bail for both accused after taking public interest into account.
He said the court was not affected by external elements in deciding on the bail.
Earlier, Deputy Public Prosecutor Noorin Badaruddin asked the court not to grant bail to the accused as the charges under Section 298A (1) (a) of the Penal Code and the Film Censorship Act were non-bailable offences.
“Of course, we accept the court discretion to allow bail on the two charges, but the prosecution objects to any bail granted until the trial is over,” he said.
Noorin said secondly, both accused had a tendency to upload pictures that could arouse public outrage.
Chong Joo Tian, the lawyer representing both accused, applied for bail for both of them on the grounds that the charges had yet to be proven and was premature in nature.
He said the prosecution could not pre-empt that the accused had a tendency to commit similar offences as they had yet to be found guilty.
“Both my clients gave full cooperation to the MCMC (Malaysian Communications and Multimedia Commission) and the police during investigations and they do not have any criminal record and the offence they were accused of do not involve any form of violence,” he said.
On the other hand, Deputy public prosecutor Ishak Mohd Yusoff argued that the court should take the surrounding circumstances into account in determining whether bail could be granted.
“Alvin Tan is a household name and if we were to ‘Google’ only the name Alvin, pictures and articles about him will pop up, for which, if it is not controlled, it can destroy society and religion. No doubt it does not involve violence, but it is a serious offence,” he said.
Noorin asked for the three cases to be tried together under Section 170 of the Criminal Procedure Code as they entailed the same transaction and witnesses.
However, Chong asked for the second charge to be tried separately as the first and third charges involved posting pornographic pictures on different websites.
Noorin said Section 170 allowed criminal offences to be tried together even though all the three cases were different and the prosecution would prove the offences occurred in the same transaction.
Murtazadi allowed the three cases to be tried together and set Aug 23 for mention.
He also gave an opportunity to the two accused to state their reasons why bail should be granted to them.
Tan said, “I want bail. I do not have any power, position, wealth, employment or job. And all my multimedia items have been confiscated by the MCMC which would affect my tendency to upload photos and access the Internet.”
Lee, who is a kindergarten teacher, said: “I would also like to be given bail and I have the same opinion as Alvin.”
- wong chee tat :)
Yangzijiang to trade shares in RMB on SGX's dual currency trading platform
Yangzijiang to trade shares in RMB on SGX's dual currency trading platform
POSTED: 25 Jul 2013 1:01 PM
Singapore Exchange (SGX) announced on Thursday that Yangzijiang Shipbuilding will be the first company to trade its shares in renminbi (RMB) on SGX's dual currency trading platform.
SINGAPORE: Singapore Exchange (SGX) announced on Thursday that Yangzijiang Shipbuilding will be the first company to trade its shares in renminbi (RMB) on SGX's dual currency trading platform.
Yangzijiang's RMB-denominated shares will start trading on 5 August.
Magnus Bocker, CEO of SGX, said this is an exciting and positive development for Singapore as an offshore RMB centre. It also demonstrates how SGX is contributing to the infrastructure and capabilities required for issuers and investors to tap opportunities offered by China.
The exchange currently offers other services such as the listing and depository of offshore RMB bonds and the listing, quotation, trading, clearing and settlement of RMB-denominated securities.
SGX also offers China A50 index futures, the only offshore access to the China A-share market.
- CNA/xq
- wong chee tat :)
POSTED: 25 Jul 2013 1:01 PM
Singapore Exchange (SGX) announced on Thursday that Yangzijiang Shipbuilding will be the first company to trade its shares in renminbi (RMB) on SGX's dual currency trading platform.
SINGAPORE: Singapore Exchange (SGX) announced on Thursday that Yangzijiang Shipbuilding will be the first company to trade its shares in renminbi (RMB) on SGX's dual currency trading platform.
Yangzijiang's RMB-denominated shares will start trading on 5 August.
Magnus Bocker, CEO of SGX, said this is an exciting and positive development for Singapore as an offshore RMB centre. It also demonstrates how SGX is contributing to the infrastructure and capabilities required for issuers and investors to tap opportunities offered by China.
The exchange currently offers other services such as the listing and depository of offshore RMB bonds and the listing, quotation, trading, clearing and settlement of RMB-denominated securities.
SGX also offers China A50 index futures, the only offshore access to the China A-share market.
- CNA/xq
- wong chee tat :)
CDL Hospitality Trust distribution per stapled security down 6.8%
CDL Hospitality Trust distribution per stapled security down 6.8%
POSTED: 26 Jul 2013 10:35 PM
CDL Hospitality Trust's income to be distributed per security fell 6.8 per cent to 2.72 cents in the second quarter from a year ago. This as income available for distribution fell to S$29.4 million, a 6.4 per cent drop from the same period last year.
SINGAPORE: CDL Hospitality Trust's income to be distributed per security fell 6.8 per cent to 2.72 cents in the second quarter from a year ago. This as income available for distribution fell to S$29.4 million, a 6.4 per cent drop from the same period last year.
CDL Hospitality Trust also reports a fall in gross revenue by 2.9 per cent on-year to S$35.6 million in the second quarter. This was largely due to lower gross revenues from its Singapore hotels and exchange losses from a weak Australian dollar.
The REIT manager said in a statement that it expects stiff competition and the weak global economy to continue impacting performance in Singapore and Australia for the rest of the year.
CDL Hospitality Trust owns 12 hotels and one resort. Among the hotels, six are located in Singapore, including Orchard Hotel and Grand Copthorne Waterfront Hotel.
- CNA/ac
- wong chee tat :)
POSTED: 26 Jul 2013 10:35 PM
CDL Hospitality Trust's income to be distributed per security fell 6.8 per cent to 2.72 cents in the second quarter from a year ago. This as income available for distribution fell to S$29.4 million, a 6.4 per cent drop from the same period last year.
SINGAPORE: CDL Hospitality Trust's income to be distributed per security fell 6.8 per cent to 2.72 cents in the second quarter from a year ago. This as income available for distribution fell to S$29.4 million, a 6.4 per cent drop from the same period last year.
CDL Hospitality Trust also reports a fall in gross revenue by 2.9 per cent on-year to S$35.6 million in the second quarter. This was largely due to lower gross revenues from its Singapore hotels and exchange losses from a weak Australian dollar.
The REIT manager said in a statement that it expects stiff competition and the weak global economy to continue impacting performance in Singapore and Australia for the rest of the year.
CDL Hospitality Trust owns 12 hotels and one resort. Among the hotels, six are located in Singapore, including Orchard Hotel and Grand Copthorne Waterfront Hotel.
- CNA/ac
- wong chee tat :)
Caldecott station to be new MRT interchange
Caldecott station to be new MRT interchange
The Land Transport Authority (LTA) has awarded a S$285 million contract to Samsung C&T Corporation to expand Caldecott station into an interchange.
SINGAPORE: The Land Transport Authority (LTA) has awarded the S$285 million contract for the construction of Thomson Line Caldecott station and associated tunnels to Samsung C&T Corporation.
Construction of the station and tunnels will start in August 2013.
When completed in 2020, Caldecott station will become an interchange station connecting the future Thomson Line with the Circle Line.
When the Thomson Line Caldecott station is completed in 2020, commuters will be able to enjoy a direct route between Woodlands and Caldecott stations in 25 minutes.
Currently, it takes about 40 minutes to travel along the North-South Line and transfer to the Circle Line at Bishan.The Land Transport Authority (LTA) has awarded the S$285 million contract to Samsung C&T Corporation to expand Caldecott station into an interchange.
LTA has also awarded a S$421-million contract to Shanghai Tunnel Engineering Co Ltd for the construction and completion of Thomson Line tunnels in Woodlands.
The contract includes tunnels linking Woodlands station to the Mandai depot.
Construction of the tunnels will start in August 2013 and is targeted for completion in 2019.
- CNA/xq
- wong chee tat :)
The Land Transport Authority (LTA) has awarded a S$285 million contract to Samsung C&T Corporation to expand Caldecott station into an interchange.
SINGAPORE: The Land Transport Authority (LTA) has awarded the S$285 million contract for the construction of Thomson Line Caldecott station and associated tunnels to Samsung C&T Corporation.
Construction of the station and tunnels will start in August 2013.
When completed in 2020, Caldecott station will become an interchange station connecting the future Thomson Line with the Circle Line.
When the Thomson Line Caldecott station is completed in 2020, commuters will be able to enjoy a direct route between Woodlands and Caldecott stations in 25 minutes.
Currently, it takes about 40 minutes to travel along the North-South Line and transfer to the Circle Line at Bishan.The Land Transport Authority (LTA) has awarded the S$285 million contract to Samsung C&T Corporation to expand Caldecott station into an interchange.
LTA has also awarded a S$421-million contract to Shanghai Tunnel Engineering Co Ltd for the construction and completion of Thomson Line tunnels in Woodlands.
The contract includes tunnels linking Woodlands station to the Mandai depot.
Construction of the tunnels will start in August 2013 and is targeted for completion in 2019.
- CNA/xq
- wong chee tat :)
TTSH warns of possible job offer scam
TTSH warns of possible job offer scam
By Vimita Mohandas
POSTED: 26 Jul 2013 11:15 PM
Tan Tock Seng Hospital (TTSH) has warned of a possible scam where emails were sent to residents in the Philippines in its name to lure them into paying money.
SINGAPORE: Tan Tock Seng Hospital (TTSH) has warned of a possible scam where emails were sent to residents in the Philippines in its name to lure them into paying money.
The emails requested payment of some 3,750 pesos (about S$109.50) for employment opportunities at the hospital and to attend a supposed coaching session.
Interested applicants were invited to attend a “Tan Tock Seng Hospital Working Visa Interview Coaching” session which, according to the emails, will be held in the hospital’s office at the Philippines on August 3-4.
In its Facebook page, TTSH stressed that it did not send out any emails of such nature.
It said that the address used in the emails, tantocksenghosp@live.com, is a bogus email address.
The hospital also said it does not have a consultancy firm in the Philippines, nor does it collect payment from candidates for any training or coaching.
It advised interested applicants to contact the hospital’s Human Resource Department directly for any enquiries on job opportunities, at hr_enquiry@ttsh.com.sg.
TTSH has reported the matter to the police.
Similar incidents had taken place in February when hoax email messages were sent to Filipinos, offering jobs at Jurong Health Services (JurongHealth) and Singapore General Hospital.
- CNA/nd
- wong chee tat :)
By Vimita Mohandas
POSTED: 26 Jul 2013 11:15 PM
Tan Tock Seng Hospital (TTSH) has warned of a possible scam where emails were sent to residents in the Philippines in its name to lure them into paying money.
SINGAPORE: Tan Tock Seng Hospital (TTSH) has warned of a possible scam where emails were sent to residents in the Philippines in its name to lure them into paying money.
The emails requested payment of some 3,750 pesos (about S$109.50) for employment opportunities at the hospital and to attend a supposed coaching session.
Interested applicants were invited to attend a “Tan Tock Seng Hospital Working Visa Interview Coaching” session which, according to the emails, will be held in the hospital’s office at the Philippines on August 3-4.
In its Facebook page, TTSH stressed that it did not send out any emails of such nature.
It said that the address used in the emails, tantocksenghosp@live.com, is a bogus email address.
The hospital also said it does not have a consultancy firm in the Philippines, nor does it collect payment from candidates for any training or coaching.
It advised interested applicants to contact the hospital’s Human Resource Department directly for any enquiries on job opportunities, at hr_enquiry@ttsh.com.sg.
TTSH has reported the matter to the police.
Similar incidents had taken place in February when hoax email messages were sent to Filipinos, offering jobs at Jurong Health Services (JurongHealth) and Singapore General Hospital.
- CNA/nd
- wong chee tat :)
New system to cut patient waiting time at Ng Teng Fong General Hospital
New system to cut patient waiting time at Ng Teng Fong General Hospital
By Vimita Mohandas
POSTED: 27 Jul 2013 5:41 PM
Patients at the upcoming Ng Teng Fong General Hospital and Jurong Community Hospital can look forward to a hassle-free experience with the new One Queue, One Bill system.
SINGAPORE: Patients at the upcoming Ng Teng Fong General Hospital and Jurong Community Hospital can look forward to a hassle-free experience with the new One Queue, One Bill system.
A visit to the hospital which involves multi-disciplines or varied tests will be streamlined on the same day, if possible. This will help to cut down travel time and money.
The new specialist outpatient experience will see an integrated system for better coordination of appointments as well as through a new role called the Patient Service Coordinator (PSC).
The PSC will serve as a key point of contact for patients to coordinate appointments and direct their general enquiries.
JurongHealth said particular attention was paid to the planning, designing and building of the two hospitals to provide a seamless experience.
Foo Hee Jug, chief executive of JurongHealth, said: "The transition from an acute hospital to a community hospital is also planned to be seamless. Overall, the key focus for us is to ensure that the experience is as seamless as possible and that takes into the consideration of the patient comfort and their convenience.
The 700-bed Ng Teng Fong General Hospital and 400-bed Jurong Community Hospital is on track to open in December 2014 and June 2015 respectively.
- CNA/fa
- wong chee tat :)
By Vimita Mohandas
POSTED: 27 Jul 2013 5:41 PM
Patients at the upcoming Ng Teng Fong General Hospital and Jurong Community Hospital can look forward to a hassle-free experience with the new One Queue, One Bill system.
SINGAPORE: Patients at the upcoming Ng Teng Fong General Hospital and Jurong Community Hospital can look forward to a hassle-free experience with the new One Queue, One Bill system.
A visit to the hospital which involves multi-disciplines or varied tests will be streamlined on the same day, if possible. This will help to cut down travel time and money.
The new specialist outpatient experience will see an integrated system for better coordination of appointments as well as through a new role called the Patient Service Coordinator (PSC).
The PSC will serve as a key point of contact for patients to coordinate appointments and direct their general enquiries.
JurongHealth said particular attention was paid to the planning, designing and building of the two hospitals to provide a seamless experience.
Foo Hee Jug, chief executive of JurongHealth, said: "The transition from an acute hospital to a community hospital is also planned to be seamless. Overall, the key focus for us is to ensure that the experience is as seamless as possible and that takes into the consideration of the patient comfort and their convenience.
The 700-bed Ng Teng Fong General Hospital and 400-bed Jurong Community Hospital is on track to open in December 2014 and June 2015 respectively.
- CNA/fa
- wong chee tat :)
24 schools conduct P1 balloting
24 schools conduct P1 balloting
By Sharon See
POSTED: 26 Jul 2013 7:12 PM
Phase 2B of the Primary 1 registration drew to a close on Friday, with balloting conducted at 24 schools.
SINGAPORE: Phase 2B of the Primary 1 registration drew to a close on Friday, with balloting conducted at 24 schools.
This phase is for children whose parents are volunteers, endorsed church or clan members, or community leaders.
St Joseph's Institution (SJI) Junior was one school which conducted balloting for Singaporean applicants living beyond two kilometres of the school.
Most of the applicants are Catholic Church members or grassroots leaders.
Balloting began at 9am, and the mood was a nerve-racking one for applicants because it determined where their children will study, learn and play for the next six years.
But with just six places left for the 28 applicants, competition was intense.
Mr Alvin Lee, a successful applicant who is a senior market development manager at a biotech firm living in Ang Mo Kio, said: "Very, very thankful, very excited and also very relieved, so we don't need to join the nail-biting experience next week again... We were always looking at the MOE website or kiasuparents.com to see the calculations, to calculate our odds."
Mr Daniel Setiadi, an IT specialist who was unsuccessful, said: "We have looked at the history of the balloting and normally, SJI Junior is balloting at Phase 2B, so we kind of expected it.
“We will look for another school for Phase 2C, probably closer to our place. So that's the plan so far."
Before the unsuccessful applicants left, SJI Junior also gave out pamphlets and information on nearby schools to help them choose another school during Phase 2C.
Channel NewsAsia spoke to a number of unsuccessful parents who had mixed views about the registration process, in particular the alumni priority phases.
One of them said she had no complaints even though her son did not get a place in the school, as she had previously benefited from the system when she enrolled her daughter in her former school.
But some other parents were visibly more upset and felt perhaps a quota should be placed on the number of vacancies given out at Phase 2A(2), where parents only have to present their school report books to enrol their children.
Over at Sembawang, Canberra Primary conducted balloting in Phase 2B for the first time.
Canberra invited representatives from nearby schools to provide more information for the unsuccessful applicants.
Mr Sam Wong, principal of Canberra Primary, said: “Parents who've gone through one balloting, I'm very sure they would not like to go for another. Therefore, if we can assist them to make a good choice where they don't have to go for another time of balloting… I think that would be delightful.”
Madam Theresa Ng, principal of Northoaks Primary, said: “We are a new school starting in 2014, so this is a good opportunity for us to reach out to another group of parents… to introduce to them our programmes, to help them understand what we will be doing in 2014.”
The next phase of registration -- Phase 2C, which is open to all children without affiliation -- opens on July 30.
- CNA/gn
- wong chee tat :)
By Sharon See
POSTED: 26 Jul 2013 7:12 PM
Phase 2B of the Primary 1 registration drew to a close on Friday, with balloting conducted at 24 schools.
SINGAPORE: Phase 2B of the Primary 1 registration drew to a close on Friday, with balloting conducted at 24 schools.
This phase is for children whose parents are volunteers, endorsed church or clan members, or community leaders.
St Joseph's Institution (SJI) Junior was one school which conducted balloting for Singaporean applicants living beyond two kilometres of the school.
Most of the applicants are Catholic Church members or grassroots leaders.
Balloting began at 9am, and the mood was a nerve-racking one for applicants because it determined where their children will study, learn and play for the next six years.
But with just six places left for the 28 applicants, competition was intense.
Mr Alvin Lee, a successful applicant who is a senior market development manager at a biotech firm living in Ang Mo Kio, said: "Very, very thankful, very excited and also very relieved, so we don't need to join the nail-biting experience next week again... We were always looking at the MOE website or kiasuparents.com to see the calculations, to calculate our odds."
Mr Daniel Setiadi, an IT specialist who was unsuccessful, said: "We have looked at the history of the balloting and normally, SJI Junior is balloting at Phase 2B, so we kind of expected it.
“We will look for another school for Phase 2C, probably closer to our place. So that's the plan so far."
Before the unsuccessful applicants left, SJI Junior also gave out pamphlets and information on nearby schools to help them choose another school during Phase 2C.
Channel NewsAsia spoke to a number of unsuccessful parents who had mixed views about the registration process, in particular the alumni priority phases.
One of them said she had no complaints even though her son did not get a place in the school, as she had previously benefited from the system when she enrolled her daughter in her former school.
But some other parents were visibly more upset and felt perhaps a quota should be placed on the number of vacancies given out at Phase 2A(2), where parents only have to present their school report books to enrol their children.
Over at Sembawang, Canberra Primary conducted balloting in Phase 2B for the first time.
Canberra invited representatives from nearby schools to provide more information for the unsuccessful applicants.
Mr Sam Wong, principal of Canberra Primary, said: “Parents who've gone through one balloting, I'm very sure they would not like to go for another. Therefore, if we can assist them to make a good choice where they don't have to go for another time of balloting… I think that would be delightful.”
Madam Theresa Ng, principal of Northoaks Primary, said: “We are a new school starting in 2014, so this is a good opportunity for us to reach out to another group of parents… to introduce to them our programmes, to help them understand what we will be doing in 2014.”
The next phase of registration -- Phase 2C, which is open to all children without affiliation -- opens on July 30.
- CNA/gn
- wong chee tat :)
Eleven killed in China nursing home arson attack
Eleven killed in China nursing home arson attack
POSTED: 26 Jul 2013 5:56 PM
Eleven nursing home patients burned to death early Friday in China after one of them set the facility on fire in a row over money, state media reported.
BEIJING: Eleven nursing home patients burned to death early Friday in China after one of them set the facility on fire in a row over money, state media reported.
Wang Gui, who was 45 and had had a stroke, set the inpatient section of the home in Hailun, Heilongjiang province, on fire after another resident allegedly stole 200 yuan (US$33) from him, the Xinhua news agency said, quoting the local police.
Wang and 10 other people, the oldest aged 87, died and two others were injured, the report said.
The nursing home housed 283 mostly senior citizens, Xinhua said. It was built in 2005 and has 450 beds for people in the northeastern area who have no source of income.
Wang was sent there as he had nobody to take care of him after his stroke, it added.
Social tensions have been mounting in China in recent years against a backdrop of a widening income gap and abuses of public power, with disputes even over trifling issues sometimes triggering serious incidents.
- AFP/gn
- wong chee tat :)
POSTED: 26 Jul 2013 5:56 PM
Eleven nursing home patients burned to death early Friday in China after one of them set the facility on fire in a row over money, state media reported.
BEIJING: Eleven nursing home patients burned to death early Friday in China after one of them set the facility on fire in a row over money, state media reported.
Wang Gui, who was 45 and had had a stroke, set the inpatient section of the home in Hailun, Heilongjiang province, on fire after another resident allegedly stole 200 yuan (US$33) from him, the Xinhua news agency said, quoting the local police.
Wang and 10 other people, the oldest aged 87, died and two others were injured, the report said.
The nursing home housed 283 mostly senior citizens, Xinhua said. It was built in 2005 and has 450 beds for people in the northeastern area who have no source of income.
Wang was sent there as he had nobody to take care of him after his stroke, it added.
Social tensions have been mounting in China in recent years against a backdrop of a widening income gap and abuses of public power, with disputes even over trifling issues sometimes triggering serious incidents.
- AFP/gn
- wong chee tat :)
Friday, July 26, 2013
Thursday, July 25, 2013
Wednesday, July 24, 2013
OUE Hospitality Trust IPO 19.1 Times Subscribed
OUE Hospitality Trust IPO 19.1 Times Subscribed
by Admin on Jul 24, 2013 • 8:21 pm
by Ernie B. Calucag
singapore
The initial public offering (IPO) of OUE Hospitality Trust, which comprises OUE Hospitality Real Estate Investment Trust and OUE Hospitality Business Trust, is 19.1 times subscribed, the trust said Wednesday.
The public offering of around 434.6 million stapled securities, which closed Tuesday noon, received 40,935 applications representing approximately 974.7 million units.
Meanwhile, the placement tranche of 383.5 million stapled securities to institutional investors and 51.1 million stapled securities to the public in Singapore were both fully subscribed.
Together, the OUE Hospitality Trust raised gross proceeds of S$600.0 million, with potential to go up to S$660.0 million if the over-allotment option of 68.2 million stapled securities is exercised in full.
The trust also secured an additional S$218.0 million worth of commitments from cornerstone investors such as Credit Suisse AG, Goldhill, Mr Gordon Tang, Lucille Holdings Pte Ltd and Splendid Asia Macro Fund who have subscribed for an aggregate of 247.2 million stapled securities.
Priced at S$0.88 per stapled security, the holders can expect to receive annualised 2013 distribution yield of 7.36 per cent and projected 7.46 per cent in 2014.
“The strong demand from the market highlights that investors recognise the sound asset fundamentals that underpin the portfolio of OUE H-Trust, as well as the strong backing of our sponsor Overseas Union Enterprise (OUE),” said Chong Kee Hiong, CEO of the REIT Manager.
OUE said it will initially inject two assets in the trust- the Mandarin Orchard hotel and the Mandarin Gallery mall along Orchard Road.
Also, a business hotel next to Changi Airport and two hospitality assets in China may be offered to OUE Hospitality Trust, according to the IPO prospectus. The properties, which have a total valuation of S$413.0 million as at 31 December 2013, could potentially double the number of hotel rooms owned by the trust, according to the document.
Led by Indonesian tycoon Stephen Riady, OUE revived plans for the REIT listing soon after it lost the battle to buy Fraser and Neave to Thai billionaire Charoen Sirivadhanabhakdi.
OUE also owns hotel properties outside Singapore, including Meritus Pelangi Beach Resort & Spa Langkawi in Malaysia and Meritus Mandarin Haikou and Meritus Shantou in China.
The share sale was managed by Credit Suisse Group AG, Goldman Sachs Group Inc. and Standard Chartered Plc.
OUE Hospitality Trust will start trade at 2.00 p.m. on Thursday, July 25.
SPH REIT Debuts Strong
SPH REIT gained on its first day of trading as investors were attracted by returns higher than those of comparable properties.
The shares jumped 9.4 per cent to 98.5 S-cents at the close of trading Tuesday. The stock was offered at 90 S-cents apiece, the top end of its price range.
SPH REIT units were offered with a yield of 5.79 per cent based on fiscal 2014 projections. That is higher than the measure tracking REITs in Singapore, which trades with a yield of 4.76 per cent, according to data compiled by Bloomberg.
The media group Singapore Press Holdings sold 615.8 million REIT units, raising S$554.0 million.
The SPH REIT’s assets will include the luxury Paragon mall in the prime shopping district of Orchard Road and the suburban Clementi Mall.
REITs and business trusts were the biggest fundraisers in Singapore’s initial public offering market in the past year, accounting for US$4.16 billion of the US$6.2 billion of stock priced, according to data compiled by Bloomberg.
The biggest share sale was the S$1.6 billion raised by Mapletree Greater China Commercial Trust, a REIT that owns assets including the Festival Walk shopping mall in Hong Kong and an office complex in Beijing.
The citystate lists 23 REITs and is the largest REIT market in Asia ex-Japan. Singapore-listed REITs have a combined market capitalisation of S$52.0 billion. Together the 23 REITs provide a diverse mix of local and international property assets that house industrial, commercial, retail, residential and specialised tenants.
- wong chee tat :)
by Admin on Jul 24, 2013 • 8:21 pm
by Ernie B. Calucag
singapore
The initial public offering (IPO) of OUE Hospitality Trust, which comprises OUE Hospitality Real Estate Investment Trust and OUE Hospitality Business Trust, is 19.1 times subscribed, the trust said Wednesday.
The public offering of around 434.6 million stapled securities, which closed Tuesday noon, received 40,935 applications representing approximately 974.7 million units.
Meanwhile, the placement tranche of 383.5 million stapled securities to institutional investors and 51.1 million stapled securities to the public in Singapore were both fully subscribed.
Together, the OUE Hospitality Trust raised gross proceeds of S$600.0 million, with potential to go up to S$660.0 million if the over-allotment option of 68.2 million stapled securities is exercised in full.
The trust also secured an additional S$218.0 million worth of commitments from cornerstone investors such as Credit Suisse AG, Goldhill, Mr Gordon Tang, Lucille Holdings Pte Ltd and Splendid Asia Macro Fund who have subscribed for an aggregate of 247.2 million stapled securities.
Priced at S$0.88 per stapled security, the holders can expect to receive annualised 2013 distribution yield of 7.36 per cent and projected 7.46 per cent in 2014.
“The strong demand from the market highlights that investors recognise the sound asset fundamentals that underpin the portfolio of OUE H-Trust, as well as the strong backing of our sponsor Overseas Union Enterprise (OUE),” said Chong Kee Hiong, CEO of the REIT Manager.
OUE said it will initially inject two assets in the trust- the Mandarin Orchard hotel and the Mandarin Gallery mall along Orchard Road.
Also, a business hotel next to Changi Airport and two hospitality assets in China may be offered to OUE Hospitality Trust, according to the IPO prospectus. The properties, which have a total valuation of S$413.0 million as at 31 December 2013, could potentially double the number of hotel rooms owned by the trust, according to the document.
Led by Indonesian tycoon Stephen Riady, OUE revived plans for the REIT listing soon after it lost the battle to buy Fraser and Neave to Thai billionaire Charoen Sirivadhanabhakdi.
OUE also owns hotel properties outside Singapore, including Meritus Pelangi Beach Resort & Spa Langkawi in Malaysia and Meritus Mandarin Haikou and Meritus Shantou in China.
The share sale was managed by Credit Suisse Group AG, Goldman Sachs Group Inc. and Standard Chartered Plc.
OUE Hospitality Trust will start trade at 2.00 p.m. on Thursday, July 25.
SPH REIT Debuts Strong
SPH REIT gained on its first day of trading as investors were attracted by returns higher than those of comparable properties.
The shares jumped 9.4 per cent to 98.5 S-cents at the close of trading Tuesday. The stock was offered at 90 S-cents apiece, the top end of its price range.
SPH REIT units were offered with a yield of 5.79 per cent based on fiscal 2014 projections. That is higher than the measure tracking REITs in Singapore, which trades with a yield of 4.76 per cent, according to data compiled by Bloomberg.
The media group Singapore Press Holdings sold 615.8 million REIT units, raising S$554.0 million.
The SPH REIT’s assets will include the luxury Paragon mall in the prime shopping district of Orchard Road and the suburban Clementi Mall.
REITs and business trusts were the biggest fundraisers in Singapore’s initial public offering market in the past year, accounting for US$4.16 billion of the US$6.2 billion of stock priced, according to data compiled by Bloomberg.
The biggest share sale was the S$1.6 billion raised by Mapletree Greater China Commercial Trust, a REIT that owns assets including the Festival Walk shopping mall in Hong Kong and an office complex in Beijing.
The citystate lists 23 REITs and is the largest REIT market in Asia ex-Japan. Singapore-listed REITs have a combined market capitalisation of S$52.0 billion. Together the 23 REITs provide a diverse mix of local and international property assets that house industrial, commercial, retail, residential and specialised tenants.
- wong chee tat :)
Tuesday, July 23, 2013
India imposes new gold import curbs to ease deficit
India imposes new gold import curbs to ease deficit
POSTED: 23 Jul 2013 4:16 PM
India, the world's biggest gold-buying nation, has slapped fresh curbs on imports of the precious metal in a bid to curb a record current account deficit.
MUMBAI: India, the world's biggest gold-buying nation, has slapped fresh curbs on imports of the precious metal in a bid to curb a record current account deficit.
The Reserve Bank of India (RBI) announced late Monday at least one-fifth of every shipment of gold imported must be set aside for jewellery and other sales overseas.
Some 16 per cent of India's total merchandise exports are made up of jewellery and gems.
Authorised gold importers such as banks and gold trading agencies must ensure at least 20 per cent of every lot of imported gold "is exclusively made available for the purpose of export", the bank said.
Gold and oil imports are the biggest contributors to India's current account deficit, the broadest measure of trade, that hit a record 4.8 per cent of gross domestic product in the financial year ending March as imports outpaced exports.
The bank's move comes after India twice hiked the import duty on bullion earlier this year to discourage gold buying.
Gold is hugely popular in India, especially during religious festivals and wedding seasons, but Finance Minister P. Chidambaram last month implored Indians to "resist the temptation to buy gold" with the rupee's value also slumping.
"India does not produce an ounce of gold. You pay in rupees, but the government has to spend dollars to buy gold," Chidambaram said.
Many Indians -- especially in rural areas where there are few banks -- also buy gold in the form of jewellery, bars and coins as a hedge against inflation which has been stubbornly high.
Ratings agencies have threatened to downgrade India's sovereign investment rating to junk status unless the government improves the nation's finances, including its current account deficit.
The restrictions on gold have led to an upsurge in smuggling with Nepal police on Wednesday seizing 35 kilograms (77 pounds) of the commodity bound for India.
- AFP/gn
- wong chee tat :)
POSTED: 23 Jul 2013 4:16 PM
India, the world's biggest gold-buying nation, has slapped fresh curbs on imports of the precious metal in a bid to curb a record current account deficit.
MUMBAI: India, the world's biggest gold-buying nation, has slapped fresh curbs on imports of the precious metal in a bid to curb a record current account deficit.
The Reserve Bank of India (RBI) announced late Monday at least one-fifth of every shipment of gold imported must be set aside for jewellery and other sales overseas.
Some 16 per cent of India's total merchandise exports are made up of jewellery and gems.
Authorised gold importers such as banks and gold trading agencies must ensure at least 20 per cent of every lot of imported gold "is exclusively made available for the purpose of export", the bank said.
Gold and oil imports are the biggest contributors to India's current account deficit, the broadest measure of trade, that hit a record 4.8 per cent of gross domestic product in the financial year ending March as imports outpaced exports.
The bank's move comes after India twice hiked the import duty on bullion earlier this year to discourage gold buying.
Gold is hugely popular in India, especially during religious festivals and wedding seasons, but Finance Minister P. Chidambaram last month implored Indians to "resist the temptation to buy gold" with the rupee's value also slumping.
"India does not produce an ounce of gold. You pay in rupees, but the government has to spend dollars to buy gold," Chidambaram said.
Many Indians -- especially in rural areas where there are few banks -- also buy gold in the form of jewellery, bars and coins as a hedge against inflation which has been stubbornly high.
Ratings agencies have threatened to downgrade India's sovereign investment rating to junk status unless the government improves the nation's finances, including its current account deficit.
The restrictions on gold have led to an upsurge in smuggling with Nepal police on Wednesday seizing 35 kilograms (77 pounds) of the commodity bound for India.
- AFP/gn
- wong chee tat :)
CPI for general households eases to 2.8% in H1 2013
CPI for general households eases to 2.8% in H1 2013
POSTED: 23 Jul 2013 8:11 PM
Singapore's inflation moderated in the first half of 2013. The Department of Statistics (DOS) said the Consumer Price Index (CPI) for general households eased to 2.8 per cent from January to June 2013.
SINGAPORE: Singapore's inflation moderated in the first half of 2013. The Department of Statistics (DOS) said the Consumer Price Index (CPI) for general households eased to 2.8 per cent from January to June 2013.
That is less than the 4.1 per cent increase in the second half of 2012.
CPI excluding imputed rentals on owner-occupied accommodation (OOA) fell from 3.3 per cent in the second half of 2012 to 2.2 per cent in the first half of 2013.
DOS said the lower income group experienced a smaller increase in CPI compared to the middle and higher income groups. The increase in CPI (excluding imputed rental on OOA) for the lowest 20 per cent income group was 1.3 per cent.
For the middle 60 per cent income group, the increase was 2.1 per cent, and for the highest 20 per cent income group, the increase was 2.5 per cent.
In terms of CPI (for all items), the inflation rate for the lowest 20 per cent was 3.1 per cent; for the middle 60 per cent, it was 2.9 per cent; and for the highest 20 per cent income group, it was 2.7 per cent.
DOS said food and car costs contributed to the increases in the CPIs for all income groups.
However, the DOS noted that these increases were partially offset by lower electricity tariffs, a larger quantum of government rebates on service and conservancy charges (S&CC) for HDB households, and the lower government concessionary levy for foreign domestic helpers.
- CNA/ac
- wong chee tat :)
POSTED: 23 Jul 2013 8:11 PM
Singapore's inflation moderated in the first half of 2013. The Department of Statistics (DOS) said the Consumer Price Index (CPI) for general households eased to 2.8 per cent from January to June 2013.
SINGAPORE: Singapore's inflation moderated in the first half of 2013. The Department of Statistics (DOS) said the Consumer Price Index (CPI) for general households eased to 2.8 per cent from January to June 2013.
That is less than the 4.1 per cent increase in the second half of 2012.
CPI excluding imputed rentals on owner-occupied accommodation (OOA) fell from 3.3 per cent in the second half of 2012 to 2.2 per cent in the first half of 2013.
DOS said the lower income group experienced a smaller increase in CPI compared to the middle and higher income groups. The increase in CPI (excluding imputed rental on OOA) for the lowest 20 per cent income group was 1.3 per cent.
For the middle 60 per cent income group, the increase was 2.1 per cent, and for the highest 20 per cent income group, the increase was 2.5 per cent.
In terms of CPI (for all items), the inflation rate for the lowest 20 per cent was 3.1 per cent; for the middle 60 per cent, it was 2.9 per cent; and for the highest 20 per cent income group, it was 2.7 per cent.
DOS said food and car costs contributed to the increases in the CPIs for all income groups.
However, the DOS noted that these increases were partially offset by lower electricity tariffs, a larger quantum of government rebates on service and conservancy charges (S&CC) for HDB households, and the lower government concessionary levy for foreign domestic helpers.
- CNA/ac
- wong chee tat :)
Passenger injured in SMRT bus accident discharged
Passenger injured in SMRT bus accident discharged
POSTED: 22 Jul 2013 1:50 PM
The passenger injured in an SMRT bus accident along Dairy Farm Road on Sunday was discharged from hospital on Monday morning.
SINGAPORE: The passenger injured in an SMRT bus accident along Dairy Farm Road on Sunday was discharged from hospital on Monday morning.
The accident on Sunday morning involved an SMRT Service 700A bus, which had flipped and ended up on its side.
Another passenger, who was trapped in the bus, was pronounced dead at the scene by paramedics.
The injured male passenger and the 39-year-old bus driver were sent to National University Hospital.
According to a hospital spokesperson, the driver is in a stable condition and is still warded.
In a Facebook posting, SMRT said that its heart is with the families of those affected, and it is doing its best to support and assist the injured and family of the deceased.
SMRT is working closely with the police on their investigation, which includes providing the driver profile and vehicle maintenance records.
Separately in a statement, the Singapore Road Safety Council urged public transport operators to take all necessary measures to make road safety a prominent part of their operations.
Saddened over the accident, the council said passengers on buses should always feel safe and that it is the last place they should expect to lose their lives.
While police investigations are still on-going, the council's chairman, Mr Bernard Tay, said that public transport operators have a duty to ensure the vehicles comply with safety rules and are properly maintained.
Operators should also ensure that drivers adhere strictly to safe, responsible driving behaviour and habits.
The council added that drivers are expected to have sufficient experience for the safe handling and control of the vehicles, taking into account factors such as varying road conditions and environments, for the safety of their passengers.
- CNA/ac/fa
- wong chee tat :)
POSTED: 22 Jul 2013 1:50 PM
The passenger injured in an SMRT bus accident along Dairy Farm Road on Sunday was discharged from hospital on Monday morning.
SINGAPORE: The passenger injured in an SMRT bus accident along Dairy Farm Road on Sunday was discharged from hospital on Monday morning.
The accident on Sunday morning involved an SMRT Service 700A bus, which had flipped and ended up on its side.
Another passenger, who was trapped in the bus, was pronounced dead at the scene by paramedics.
The injured male passenger and the 39-year-old bus driver were sent to National University Hospital.
According to a hospital spokesperson, the driver is in a stable condition and is still warded.
In a Facebook posting, SMRT said that its heart is with the families of those affected, and it is doing its best to support and assist the injured and family of the deceased.
SMRT is working closely with the police on their investigation, which includes providing the driver profile and vehicle maintenance records.
Separately in a statement, the Singapore Road Safety Council urged public transport operators to take all necessary measures to make road safety a prominent part of their operations.
Saddened over the accident, the council said passengers on buses should always feel safe and that it is the last place they should expect to lose their lives.
While police investigations are still on-going, the council's chairman, Mr Bernard Tay, said that public transport operators have a duty to ensure the vehicles comply with safety rules and are properly maintained.
Operators should also ensure that drivers adhere strictly to safe, responsible driving behaviour and habits.
The council added that drivers are expected to have sufficient experience for the safe handling and control of the vehicles, taking into account factors such as varying road conditions and environments, for the safety of their passengers.
- CNA/ac/fa
- wong chee tat :)
16 cases of car rental scams in 2012
16 cases of car rental scams in 2012
POSTED: 22 Jul 2013 6:37 PM
There were 16 cases of car rental scams last year and a quarter of such cases occurred during the Hari Raya period, said the Consumers Association of Singapore.
SINGAPORE: There were 16 cases of car rental scams last year and a quarter of such cases occurred during the Hari Raya period, says the Consumers Association of Singapore (CASE).
Complaints included overcharging and car companies not meeting contract requirements.
With Hari Raya just round the corner, CASE is advising consumers to read rental agreements carefully before signing it and also ensure proper insurance coverage.
CASE adds that claims should be put in writing to prevent potential disputes and consumers should not sign blank forms.
- CNA/fa
- wong chee tat :)
POSTED: 22 Jul 2013 6:37 PM
There were 16 cases of car rental scams last year and a quarter of such cases occurred during the Hari Raya period, said the Consumers Association of Singapore.
SINGAPORE: There were 16 cases of car rental scams last year and a quarter of such cases occurred during the Hari Raya period, says the Consumers Association of Singapore (CASE).
Complaints included overcharging and car companies not meeting contract requirements.
With Hari Raya just round the corner, CASE is advising consumers to read rental agreements carefully before signing it and also ensure proper insurance coverage.
CASE adds that claims should be put in writing to prevent potential disputes and consumers should not sign blank forms.
- CNA/fa
- wong chee tat :)
Phase 2B of P1 registration opens
Phase 2B of P1 registration opens
POSTED: 22 Jul 2013 8:29 PM
Phase 2B of the Primary 1 registration opened on Monday. The phase is for children whose parents are endorsed church or clan members, community leaders or school volunteers.
SINGAPORE: Phase 2B of the Primary 1 registration opened on Monday. The phase is for children whose parents are endorsed church or clan members, community leaders or school volunteers.
While 'volunteerism' previously conjured images of parents doing tasks like weeding or looking after children, schools say the role of parent volunteers has evolved in recent years.
And it is not only the more popular schools that are now attracting volunteers.
Mdm Diana Loh hopes to enrol her son in Concord Primary School next year, which is within one kilometre of where she lives in Choa Chu Kang.
She signed up as a parent volunteer to find out more about the school, which would also qualify her child for Phase 2B of the Primary 1 registration.
So far, she likes what she has seen.
She said: "I don't really want my child to go to a 'brand name' school and be under a lot of pressure. I want him to grow up in a healthy environment. So I thought that by being a volunteer for this school, I could come in and take a look.
"I wanted to get a more comprehensive picture of this school, so that was my motivation for volunteering."
Concord says that it tries to match parents' interest and expertise to areas in which they can contribute.
Principal Tonnine Chua said that the school also provides training for some parents if necessary.
Mdm Loh currently helps out with the school's Chinese reading programme for lower primary students.
Mrs Chua said: “In the past, parents played a more passive role of looking after the children physically. Now parents are more involved in educating and helping the school to nurture the children… beyond academics, (such as) values and character development.”
Another parent volunteer, Cheng Hui Yan, hopes to enrol her child in Rulang Primary School. Mrs Cheng lives within a kilometre of the school.
She said: “I'm in the finance line, so we offered to give the students financial literacy courses… That's probably the reason why we're being selected. It's quite a unique course that we can provide.”
As one of the more popular schools in the western part of Singapore, Rulang Primary School gets a large number of interested parents applying to be volunteers every year.
The school says it conducts an interview process for every single applicant before a panel committee, comprising school leaders and heads of department, cast their votes.
Eugene Ong, principal of Rulang Primary School, said: "Rulang has in place a transparent selection system which ensures that all parent volunteer applicants, regardless of their profession, education qualification or social background, have an equal opportunity to be selected to work with us to support our school's holistic education efforts."
The school says one important quality it looks out for is an applicant's sincerity in working with the school.
The school took in fewer than 10 volunteers last year as a way to manage parents' expectations, as not all children whose parent volunteers are guaranteed a place in the school.
Rulang has 30 places left for Phase 2B, and balloting may occur if there are more applicants than vacancies.
- CNA/jc
- wong chee tat :)
POSTED: 22 Jul 2013 8:29 PM
Phase 2B of the Primary 1 registration opened on Monday. The phase is for children whose parents are endorsed church or clan members, community leaders or school volunteers.
SINGAPORE: Phase 2B of the Primary 1 registration opened on Monday. The phase is for children whose parents are endorsed church or clan members, community leaders or school volunteers.
While 'volunteerism' previously conjured images of parents doing tasks like weeding or looking after children, schools say the role of parent volunteers has evolved in recent years.
And it is not only the more popular schools that are now attracting volunteers.
Mdm Diana Loh hopes to enrol her son in Concord Primary School next year, which is within one kilometre of where she lives in Choa Chu Kang.
She signed up as a parent volunteer to find out more about the school, which would also qualify her child for Phase 2B of the Primary 1 registration.
So far, she likes what she has seen.
She said: "I don't really want my child to go to a 'brand name' school and be under a lot of pressure. I want him to grow up in a healthy environment. So I thought that by being a volunteer for this school, I could come in and take a look.
"I wanted to get a more comprehensive picture of this school, so that was my motivation for volunteering."
Concord says that it tries to match parents' interest and expertise to areas in which they can contribute.
Principal Tonnine Chua said that the school also provides training for some parents if necessary.
Mdm Loh currently helps out with the school's Chinese reading programme for lower primary students.
Mrs Chua said: “In the past, parents played a more passive role of looking after the children physically. Now parents are more involved in educating and helping the school to nurture the children… beyond academics, (such as) values and character development.”
Another parent volunteer, Cheng Hui Yan, hopes to enrol her child in Rulang Primary School. Mrs Cheng lives within a kilometre of the school.
She said: “I'm in the finance line, so we offered to give the students financial literacy courses… That's probably the reason why we're being selected. It's quite a unique course that we can provide.”
As one of the more popular schools in the western part of Singapore, Rulang Primary School gets a large number of interested parents applying to be volunteers every year.
The school says it conducts an interview process for every single applicant before a panel committee, comprising school leaders and heads of department, cast their votes.
Eugene Ong, principal of Rulang Primary School, said: "Rulang has in place a transparent selection system which ensures that all parent volunteer applicants, regardless of their profession, education qualification or social background, have an equal opportunity to be selected to work with us to support our school's holistic education efforts."
The school says one important quality it looks out for is an applicant's sincerity in working with the school.
The school took in fewer than 10 volunteers last year as a way to manage parents' expectations, as not all children whose parent volunteers are guaranteed a place in the school.
Rulang has 30 places left for Phase 2B, and balloting may occur if there are more applicants than vacancies.
- CNA/jc
- wong chee tat :)
Monday, July 22, 2013
Sunday, July 21, 2013
Passenger dies after SMRT bus flips along Dairy Farm Road
Passenger dies after SMRT bus flips along Dairy Farm Road
By Alice Chia
POSTED: 21 Jul 2013 12:04 PM
UPDATED: 21 Jul 2013 8:31 PM
An accident involving a SMRT bus along Dairy Farm Road towards the Bukit Timah Expressway on Sunday morning has left a man dead and two others injured.
SINGAPORE: An accident involving a SMRT bus along Dairy Farm Road towards BKE on Sunday morning has left a man dead and two others injured.
Bus service 700A had flipped over.
The Singapore Civil Defence Force (SCDF) said it received a call for help at 8.57am.
Its officers found a man, who was a passenger, trapped in the bus.
Paramedics pronounced him dead at the scene.
SCDF said another male passenger and the male driver were injured.
They were sent to National University Hospital, where both have been warded and are in stable condition.
SMRT said that the driver has been with SMRT since January last year and has been driving the route since July 2012.
It also said the driver had a clean service record with no prior accidents or complaints against him.
He had been last at work on an 8.5-hour shift on 20 July and was deployed at 7am on Sunday, having had more than the required eight-hour rest period between his shifts.
"SMRT has a fleet of 1,137 buses, which undergo strict and thorough preventative maintenance checks. These include mandatory LTA inspection repair, as well as predictive and corrective maintenance of components such as braking and steering mechanisms. The bus involved in this morning's accident was last maintained on June 21, and was given a clean bill of health. No brake or steering related problems were noted during the inspection," said Kalai Natarajan, vice president of corporate and marketing communications at SMRT.
SMRT said it is saddened by the incident and is working with SCDF and the police on the case.
- CNA/fa/xq
- wong chee tat :)
By Alice Chia
POSTED: 21 Jul 2013 12:04 PM
UPDATED: 21 Jul 2013 8:31 PM
An accident involving a SMRT bus along Dairy Farm Road towards the Bukit Timah Expressway on Sunday morning has left a man dead and two others injured.
SINGAPORE: An accident involving a SMRT bus along Dairy Farm Road towards BKE on Sunday morning has left a man dead and two others injured.
Bus service 700A had flipped over.
The Singapore Civil Defence Force (SCDF) said it received a call for help at 8.57am.
Its officers found a man, who was a passenger, trapped in the bus.
Paramedics pronounced him dead at the scene.
SCDF said another male passenger and the male driver were injured.
They were sent to National University Hospital, where both have been warded and are in stable condition.
SMRT said that the driver has been with SMRT since January last year and has been driving the route since July 2012.
It also said the driver had a clean service record with no prior accidents or complaints against him.
He had been last at work on an 8.5-hour shift on 20 July and was deployed at 7am on Sunday, having had more than the required eight-hour rest period between his shifts.
"SMRT has a fleet of 1,137 buses, which undergo strict and thorough preventative maintenance checks. These include mandatory LTA inspection repair, as well as predictive and corrective maintenance of components such as braking and steering mechanisms. The bus involved in this morning's accident was last maintained on June 21, and was given a clean bill of health. No brake or steering related problems were noted during the inspection," said Kalai Natarajan, vice president of corporate and marketing communications at SMRT.
SMRT said it is saddened by the incident and is working with SCDF and the police on the case.
- CNA/fa/xq
- wong chee tat :)
Saturday, July 20, 2013
More PMETs hired on contract
More PMETs hired on contract
By Imelda Saad
POSTED: 20 Jul 2013 9:17 PM
Short-term contract work seems to be a growing trend among professionals in Singapore as the economy restructures.
SINGAPORE: Short-term contract work seems to be a growing trend among professionals in Singapore as the economy restructures.
And increasingly, this is working in the favour of employees, say HR experts.
Contract work used to be the domain of low-skilled workers.
But increasingly, professionals, managers, executives and technicians (PMETs) are being hired on contracts.
Figures from the Manpower Ministry show that some 70,000 PMETs were hired on term contracts last year, up from 67,000 in 2011.
HR firms Channel NewsAsia spoke to also noticed a similar growing trend.
Robert Walters said it saw a 43% increase in contracting vacancies in the first quarter of this year, compared with the 4th quarter in 2012.
Mr Toby Fowlston, managing director of Robert Walters Singapore, said: "If a company is looking to move operations to other parts of Southeast Asia or other parts of the world, and they are not necessarily able to secure permanent headcount sign-ons, so obviously, interim contract is a more viable option."
Meanwhile, Ms Linda Teo, country manager of Manpower Singapore, said: "Yes, we have seen an increase in contingent orders. In view that organisations do not know what will happen with Europe and the US, organisations will take more contingent workforce to gain more flexibility."
HR experts say contract work will be a growing market in challenging economic times when companies need to exercise flexibility on headcount.
The contract period for PMETs is typically short-term -- anything from six months to a year.
A quick street poll shows that workers still value job security.
Le Duy Linh, a Vietnamese software developer, who is on a two-year contract in Singapore, said: "A short term contract is not comfortable for the employee because it does not guarantee anything. Up to six months -- what can you do if your contract expires? You go home?"
Ee Ling, a quality service officer, said: "Not for me. I have commitments. So, because of commitments, I need something full-time."
Chiu Kai Ling, a manager, said: "In this economic climate, I'm not that comfortable because it's not very certain whether I will be able to find a job by the time my contract ends."
Joshua Tay, a corporate services manager, said: "I prefer to have a stable position where I can excel, maybe at least three years and above."
Perceptions aside, one HR firm said more professionals in Singapore are warming up to the idea of contract work
Hays said it has seen a three-fold increase in the number of people looking for such work over the past three to four years.
And the hunt for skilled people is happening across sectors.
One big change it is starting to see is that contract staff are getting better deals.
Hays' regional director Chris Mead said: "It used to be they would get minimal benefits, and I think when you have minimal benefits and only a short-term job, it can sometimes lead to a perception that this is not a good thing to do.
"But the smart organisations in Singapore - and I would say the oil and gas industry, the banking and finance industry and technology industry, in particular - have started to change the benefits that are available to contract workers, coming much more in line with permanent staff."
Another trend emerging is the conversion of contract workers to permanent staff by employers who are satisfied with the person they have hired.
"Also, a growing trend in Singapore is that the employer takes on an employee for six, nine or 12 months on a contract, and if the work is ongoing, the employee likes the company, the company likes the employee, then that employee is converted to a permanent (staff)," said Mr Mead.
With contract work, there is always the issue of job security. So experts advise workers to go in with their eyes open.
"It does take a leap of faith if you take a nine-month contract. Obviously, there's an element of uncertainty there. However, for good skilled professional staff, the unemployment rate in Singapore is about 2%, so there is no shortage of good jobs out there for staff who are professionally trained and have good experience. So the risk of going for a long time without a job is actually quite minimal," added Mr Mead.
- CNA/ir
- wong chee tat :)
By Imelda Saad
POSTED: 20 Jul 2013 9:17 PM
Short-term contract work seems to be a growing trend among professionals in Singapore as the economy restructures.
SINGAPORE: Short-term contract work seems to be a growing trend among professionals in Singapore as the economy restructures.
And increasingly, this is working in the favour of employees, say HR experts.
Contract work used to be the domain of low-skilled workers.
But increasingly, professionals, managers, executives and technicians (PMETs) are being hired on contracts.
Figures from the Manpower Ministry show that some 70,000 PMETs were hired on term contracts last year, up from 67,000 in 2011.
HR firms Channel NewsAsia spoke to also noticed a similar growing trend.
Robert Walters said it saw a 43% increase in contracting vacancies in the first quarter of this year, compared with the 4th quarter in 2012.
Mr Toby Fowlston, managing director of Robert Walters Singapore, said: "If a company is looking to move operations to other parts of Southeast Asia or other parts of the world, and they are not necessarily able to secure permanent headcount sign-ons, so obviously, interim contract is a more viable option."
Meanwhile, Ms Linda Teo, country manager of Manpower Singapore, said: "Yes, we have seen an increase in contingent orders. In view that organisations do not know what will happen with Europe and the US, organisations will take more contingent workforce to gain more flexibility."
HR experts say contract work will be a growing market in challenging economic times when companies need to exercise flexibility on headcount.
The contract period for PMETs is typically short-term -- anything from six months to a year.
A quick street poll shows that workers still value job security.
Le Duy Linh, a Vietnamese software developer, who is on a two-year contract in Singapore, said: "A short term contract is not comfortable for the employee because it does not guarantee anything. Up to six months -- what can you do if your contract expires? You go home?"
Ee Ling, a quality service officer, said: "Not for me. I have commitments. So, because of commitments, I need something full-time."
Chiu Kai Ling, a manager, said: "In this economic climate, I'm not that comfortable because it's not very certain whether I will be able to find a job by the time my contract ends."
Joshua Tay, a corporate services manager, said: "I prefer to have a stable position where I can excel, maybe at least three years and above."
Perceptions aside, one HR firm said more professionals in Singapore are warming up to the idea of contract work
Hays said it has seen a three-fold increase in the number of people looking for such work over the past three to four years.
And the hunt for skilled people is happening across sectors.
One big change it is starting to see is that contract staff are getting better deals.
Hays' regional director Chris Mead said: "It used to be they would get minimal benefits, and I think when you have minimal benefits and only a short-term job, it can sometimes lead to a perception that this is not a good thing to do.
"But the smart organisations in Singapore - and I would say the oil and gas industry, the banking and finance industry and technology industry, in particular - have started to change the benefits that are available to contract workers, coming much more in line with permanent staff."
Another trend emerging is the conversion of contract workers to permanent staff by employers who are satisfied with the person they have hired.
"Also, a growing trend in Singapore is that the employer takes on an employee for six, nine or 12 months on a contract, and if the work is ongoing, the employee likes the company, the company likes the employee, then that employee is converted to a permanent (staff)," said Mr Mead.
With contract work, there is always the issue of job security. So experts advise workers to go in with their eyes open.
"It does take a leap of faith if you take a nine-month contract. Obviously, there's an element of uncertainty there. However, for good skilled professional staff, the unemployment rate in Singapore is about 2%, so there is no shortage of good jobs out there for staff who are professionally trained and have good experience. So the risk of going for a long time without a job is actually quite minimal," added Mr Mead.
- CNA/ir
- wong chee tat :)
Scheduled Maintenance - POSB
Scheduled Maintenance - POSB
- wong chee tat :)
| Service | Scheduled Maintenance Date | Expected Downtime | Remarks |
| iBanking | 27 Jul 2013 | 2200hrs to 2359hrs | System Maintenance
|
| 28 Jul 2013 | 0000hrs to 1230hrs | System Maintenance
| |
| 28 Jul 2013 | 0000hrs to 1335hrs | System Maintenance
| |
| 28 Jul 2013 | 0135hrs to 1010hrs | System Maintenance
| |
| 28 Jul 2013 | 0135hrs to 0140hrs | System Maintenance
| |
| 28 Jul 2013 | 0745hrs to 0750hrs | System Maintenance
| |
| mBanking | - | - | - |
| iB Application | - | - | - |
| iB - Trading Services | 27 Jul 2013 | 1000hrs to 2359hrs | Scheduled Maintenance |
| 28 Jul 2013 | 0000hrs to 1500hrs | Scheduled Maintenance | |
| D2Pay | 18 Aug 2013 | 0300hrs to 0600hrs | Scheduled Maintenance |
| Phone Banking | - | - | - |
| NETS | - | - | - |
| Passbook Update | - | - | - |
| Automated Teller Machine (ATM) | - | - | - |
| Cash Deposit Machine | - | - | - |
| Coin Deposit Machine | - | - | - |
| Cheque Deposit Machine | - | - | - |
| POSB Print | - | - | - |
| AXS D-Pay | - | - | - |
| Token Registration | - | - | - |
| e-Commerce on 3D Secure Websites | - | - | - |
- wong chee tat :)
Friday, July 19, 2013
Ng Mun Tatt: ‘My assault has nothing to do with sex bloggers’ Ramadan bak kut teh photo’
17 Jul 2013 12:58pm
The photo of Ng Nun Tatt that went viral.
Ng Mun Tatt said at a press conference here today that his case concerned money and his assailants wrote the words “Saya hina Islam” on his body as a tactic for the public to beat him up if he escaped from them, Malaysian Insider reported.
He added that he was shocked to see his photograph which was taken at the police station going viral on the Internet.
He said he was also shocked when the police said his case was triggered by the Alvin Tan and Vivian Lee Ramadan bak kut teh photo.
“I don’t even know anything about them and I have not offended anyone recently. I have a Facebook account, but I only posted about my haircut and my English and Malay are not very good,” he said.
“It was not about any (Facebook) posting. They (kidnappers) only wanted money and purposely wrote Saya Hina Agama Islam (I insulted Islam) on my body because they did not want me to escape when I was in their custody, saying that I would be beaten up by any Muslim if I planned to get away,” he said, Star Online reported.
Ng said he was having a meal with his girlfriend around 4.30am when eight men abducted him.
“They told my friends not to make a move and took me away,” he said.
“I was drugged, blindfolded, assaulted and did not know where I was being taken. I remember them asking my brother-in law for my bank pin number and the next thing I remember was waking up naked in an estate at about 10am with the words on my body,” said Ng.
He said he then ran out from the estate where a motorcyclist along the Duke Highway took him to a police station.
Ng’s brother-in law, Mak Nui Weng, 28, who was also present at the press conference, said the abductors had asked for RM5,000.
“They demanded that I transfer the money immediately. I managed to deposit RM3,000 into Ng’s account at about 8am. But thank God, they did not kill him,” Mak said, adding that the money deposited was withdrawn by the abductors, Star Online reported.
Yesterday, Inspector-General of Police Tan Sri Khalid Abu Bakar said initial investigations revealed that Ng was beaten up by the assailants allegedly over his insensitive statements connected with the sex bloggers’ Ramadan greeting.
He said the police detained four youths in Shah Alam and Petaling Jaya yesterday morning, in connection with the assault.
“We believe the motive (behind the assault) is revenge,” Khalid said, Bernama reported.
In the 3am incident yesterday, Ng was abducted by eight men and forced into a Toyota Alphard vehicle while he was having supper with his girlfriend at a restaurant in Shah Alam.
His girlfriend was unharmed.
Ng was later found stripped naked and abandoned at the 4.5km Duta-Ulu Kelang Expressway near the exit to Setiawangsa. He sustained head and body injuries and had the words “Saya hina Islam” written on his body.
A motorcyclist sent him to the Jalan Tun Razak police station where a report was lodged.
- wong chee tat :)
Sex bloggers slammed for posting insensitive ‘Buka Puasa’ greeting on Facebook
Sex bloggers slammed for posting insensitive ‘Buka Puasa’ greeting on Facebook
12 Jul 2013 12:54pm
PETALING JAYA – Sex bloggers Alvin Tan and Vivian Lee are again in the spotlight for the wrong reason.
This time, instead of posting videos of them having sex they posted a Selamat Berbuka Puasa message on their joint Facebook page.
But the message was posted along with a photo of them eating bak kut teh (a kind of herbal pork stew) and described it as “wangi, enak, menyelerakan” (fragrant, delicious, appetising).
Alvin Tan confirmed that they posted the greeting when The Star contacted them.
He said it was for “no reason. Just a joke, I guess”.
When asked if he regretted posting it, Tan said “not yet…”.
“Yeah, in a way. I don’t know. I was just curious to see how people will perceive it. It seems not everybody is on the same page as us. It is dark humour. It is just our attempt to see how it will be perceived. It is just trying to be humorous on the matter,” he said in a phone interview with The Star Online.
To him, the unfavourable response shows that “people don’t see the humour, people are mostly angry and upset”.
As to whether he will delete the posting, Tan said he would probably take it down, but “by now, many have shared the picture.”
The post received hundreds of comments mostly slamming the couple for their insensivity.
- wong chee tat :)
12 Jul 2013 12:54pm
PETALING JAYA – Sex bloggers Alvin Tan and Vivian Lee are again in the spotlight for the wrong reason.
This time, instead of posting videos of them having sex they posted a Selamat Berbuka Puasa message on their joint Facebook page.
But the message was posted along with a photo of them eating bak kut teh (a kind of herbal pork stew) and described it as “wangi, enak, menyelerakan” (fragrant, delicious, appetising).
Alvin Tan confirmed that they posted the greeting when The Star contacted them.
He said it was for “no reason. Just a joke, I guess”.
When asked if he regretted posting it, Tan said “not yet…”.
“Yeah, in a way. I don’t know. I was just curious to see how people will perceive it. It seems not everybody is on the same page as us. It is dark humour. It is just our attempt to see how it will be perceived. It is just trying to be humorous on the matter,” he said in a phone interview with The Star Online.
To him, the unfavourable response shows that “people don’t see the humour, people are mostly angry and upset”.
As to whether he will delete the posting, Tan said he would probably take it down, but “by now, many have shared the picture.”
The post received hundreds of comments mostly slamming the couple for their insensivity.
- wong chee tat :)
Sex blogger Vivian Lee is a kindergarten teacher!
Sex blogger Vivian Lee is a kindergarten teacher!
18 Jul 2013 03:08pm
KUALA LUMPUR: It has been revealed in the Sessions Court at Jalan Duta here that sex blogger Vivian Lee is a kindergarten teacher!
The court was told Vivian teaches at an unnamed kindergarten and her salary is RM900 a month. Her sex partner Alvin Tan is unemployed.
- wong chee tat :)
18 Jul 2013 03:08pm
KUALA LUMPUR: It has been revealed in the Sessions Court at Jalan Duta here that sex blogger Vivian Lee is a kindergarten teacher!
The court was told Vivian teaches at an unnamed kindergarten and her salary is RM900 a month. Her sex partner Alvin Tan is unemployed.
- wong chee tat :)
China liberalises bank lending rates
China liberalises bank lending rates
POSTED: 19 Jul 2013 7:41 PM
China's central bank said Friday it will scrap all controls on lending interest rates and let financial institutions set rates by themselves.
BEIJING: China's central bank said Friday it will scrap all controls on lending interest rates and let financial institutions set rates by themselves.
The move, a key step in plans for liberalising the country's interest rate regime, will remove a floor on lending rates set at 70% of benchmark lending levels set by the central bank.
The People's Bank of China said in a statement on its website that the move will reduce financing costs of domestic companies and improve the allocation of financial resources.
"This will support the real economy and improve economic restructuring and upgrading," the central bank said.
The central bank also said it would remove controls over bill discount rates. But it did not make any changes to its curbs on deposit rates or its policies on mortgage lending.
The People's Bank of China said that relaxing controls on bank deposit rates is a risky process that needs mature market conditions, so it will be carried out gradually.
The new rules come into effect on Saturday.
- CNA/ir
- wong chee tat :)
POSTED: 19 Jul 2013 7:41 PM
China's central bank said Friday it will scrap all controls on lending interest rates and let financial institutions set rates by themselves.
BEIJING: China's central bank said Friday it will scrap all controls on lending interest rates and let financial institutions set rates by themselves.
The move, a key step in plans for liberalising the country's interest rate regime, will remove a floor on lending rates set at 70% of benchmark lending levels set by the central bank.
The People's Bank of China said in a statement on its website that the move will reduce financing costs of domestic companies and improve the allocation of financial resources.
"This will support the real economy and improve economic restructuring and upgrading," the central bank said.
The central bank also said it would remove controls over bill discount rates. But it did not make any changes to its curbs on deposit rates or its policies on mortgage lending.
The People's Bank of China said that relaxing controls on bank deposit rates is a risky process that needs mature market conditions, so it will be carried out gradually.
The new rules come into effect on Saturday.
- CNA/ir
- wong chee tat :)
性爱博客陈杰毅李美玲 被控三项罪名
性爱博客陈杰毅李美玲 被控三项罪名
性爱博客陈杰毅（25岁）Alvin Tan 和李美玲（24岁）Vivian Lee 因肉骨茶和性视频风波，昨天（18日）在马国法庭被控三项罪名。
马来西亚籍的前新加坡国立大学法律系学生陈杰毅和女友李美玲，去年在博客公开性爱照与视频，引起各界哗然。
上周四在回教徒的斋戒月期间，两人再度成为头条人物。他们在facebook上载一张破斋时吃肉骨茶的照片，以马来语祝马来同胞斋戒月快乐“Selamat Berbuka Puasa” ，还放了个“清真“的标签。
两人的行为立刻引起公愤，指他们在侮辱回教徒。
自从发生肉骨茶风波后，他们的facebook已关闭，并在Youtube上载视频道歉。
根据马国媒体报道，昨天下午2时左右，两人在法庭面对三项控状，包括触犯2002年电检法令、1948年煽动法令，和触犯刑事法典第298A（1）条文的交替控状。两人否认控罪，不获保释，还押监狱，案件定在8月23日过堂。
若触犯煽动法令，他们将被判入狱三年。其他有关制作色情刊物的罪名，最高惩罚将是入狱5年。
马来西亚前首相马哈迪日前 （16日）说，两人必须就他们不负责任的行为面对严重的惩罚。
他说，”说一些引起公愤的话可能会引来仇恨。这些人没有常识，孺子不可教也。“
陈杰毅曾是新加坡国立大学亚细安奖学金的得主，去年因性爱照与视频已遭大学的纪律处分，最后停学和被取消奖学金。
让我们来重温案件的发展经过。
- wong chee tat :)
性爱博客陈杰毅（25岁）Alvin Tan 和李美玲（24岁）Vivian Lee 因肉骨茶和性视频风波，昨天（18日）在马国法庭被控三项罪名。
马来西亚籍的前新加坡国立大学法律系学生陈杰毅和女友李美玲，去年在博客公开性爱照与视频，引起各界哗然。
上周四在回教徒的斋戒月期间，两人再度成为头条人物。他们在facebook上载一张破斋时吃肉骨茶的照片，以马来语祝马来同胞斋戒月快乐“Selamat Berbuka Puasa” ，还放了个“清真“的标签。
两人的行为立刻引起公愤，指他们在侮辱回教徒。
自从发生肉骨茶风波后，他们的facebook已关闭，并在Youtube上载视频道歉。
根据马国媒体报道，昨天下午2时左右，两人在法庭面对三项控状，包括触犯2002年电检法令、1948年煽动法令，和触犯刑事法典第298A（1）条文的交替控状。两人否认控罪，不获保释，还押监狱，案件定在8月23日过堂。
若触犯煽动法令，他们将被判入狱三年。其他有关制作色情刊物的罪名，最高惩罚将是入狱5年。
马来西亚前首相马哈迪日前 （16日）说，两人必须就他们不负责任的行为面对严重的惩罚。
他说，”说一些引起公愤的话可能会引来仇恨。这些人没有常识，孺子不可教也。“
陈杰毅曾是新加坡国立大学亚细安奖学金的得主，去年因性爱照与视频已遭大学的纪律处分，最后停学和被取消奖学金。
让我们来重温案件的发展经过。
- wong chee tat :)
Thursday, July 18, 2013
OUE Prices Hospitality Trust IPO at S$0.88 to Raise S$600 million
OUE Prices Hospitality Trust IPO at S$0.88 to Raise S$600 million
by Admin on Jul 18, 2013 • 7:41 pm
by Ernie B. Calucag
Singapore property firm Overseas Union Enterprise Ltd (OUE) has priced Thursday the initial public offering of its hospitality and retail assets at S$0.88 per stapled security, at the low end of the indicative range of S$0.88 to S$0.90 each.
According to the prospectus, OUE Hospitality Trust will offer 434,598,000 stapled securities, consisting of an international placement of 383,462,000 stapled securities and 51,136,000 stapled securities to the public in Singapore.
The offer also includes 247,220,000 stapled securities to cornerstone investors such as Credit Suisse AG, Goldhill, Mr Gordon Tang, Lucille Holdings Pte Ltd and Splendid Asia Macro Fund.
OUE Hospitality Trust is expected to raise S$600.0 million from the offering. At S$0.88 each, the trust is offering a yield of 7.46 per cent based on fiscal 2014 projections, according to the prospectus.
The trust will comprise a real estate investment trust and a business trust. OUE said it will initially inject two assets in the trust- the Mandarin Orchard hotel and the Mandarin Gallery mall along Orchard Road.
Also, a business hotel next to Changi Airport and two hospitality assets in China may be offered to OUE Hospitality Trust, according to the IPO prospectus. The properties, which have a total valuation of S$413.0 million as at 31 December 2013, could potentially double the number of hotel rooms owned by the trust, according to the document.
Led by Indonesian tycoon Stephen Riady, OUE revived plans for the REIT listing soon after it lost the battle to buy Fraser and Neave to Thai billionaire Charoen Sirivadhanabhakdi.
OUE also owns hotel properties outside Singapore, including Meritus Pelangi Beach Resort & Spa Langkawi in Malaysia and Meritus Mandarin Haikou and Meritus Shantou in China.
The share sale was managed by Credit Suisse Group AG, Goldman Sachs Group Inc. and Standard Chartered Plc.
The retail tranche of the offering opens Thursday while listing will be on July 25.
OUE’s IPO follows that of media group Singapore Press Holdings (SPH)’s REIT offering, priced at S$0.90 per unit Wednesday.
SPH said the final price, at the top end of the indicated range, was settled after seeing strong institutional investor response during the bookbuilding process, amounting to approximately 42 times the number of units offered under the placement tranche.
The media group is expected to raise S$504.0 million on offering of 308.9 million units to institutional and public investors, and 251 million units to cornerstone investors such as Great Eastern Life Assurance Company, Hong Leong Asset Management and Morgan Stanley Investment Management Company.
At S$0.90 per unit, SPH REIT offers a yield of 5.58 per cent and 5.79 per cent for the forecast period 2H2013 and projection year 2014, respectively.
The SPH REIT’s assets will include the luxury Paragon mall in the prime shopping district of Orchard Road and the suburban Clementi Mall.
REITs and business trusts were the biggest fundraisers in Singapore’s initial public offering market in the past year, accounting for US$4.16 billion of the US$6.2 billion of stock priced, according to data compiled by Bloomberg.
The biggest share sale was the S$1.6 billion raised by Mapletree Greater China Commercial Trust, a REIT that owns assets including the Festival Walk shopping mall in Hong Kong and an office complex in Beijing.
The citystate lists 23 REITs and is the largest REIT market in Asia ex-Japan. Singapore-listed REITs have a combined market capitalisation of S$52.0 billion. Together the 23 REITs provide a diverse mix of local and international property assets that house industrial, commercial, retail, residential and specialised tenants.
More good news coming?
- wong chee tat :)
by Admin on Jul 18, 2013 • 7:41 pm
by Ernie B. Calucag
Singapore property firm Overseas Union Enterprise Ltd (OUE) has priced Thursday the initial public offering of its hospitality and retail assets at S$0.88 per stapled security, at the low end of the indicative range of S$0.88 to S$0.90 each.
According to the prospectus, OUE Hospitality Trust will offer 434,598,000 stapled securities, consisting of an international placement of 383,462,000 stapled securities and 51,136,000 stapled securities to the public in Singapore.
The offer also includes 247,220,000 stapled securities to cornerstone investors such as Credit Suisse AG, Goldhill, Mr Gordon Tang, Lucille Holdings Pte Ltd and Splendid Asia Macro Fund.
OUE Hospitality Trust is expected to raise S$600.0 million from the offering. At S$0.88 each, the trust is offering a yield of 7.46 per cent based on fiscal 2014 projections, according to the prospectus.
The trust will comprise a real estate investment trust and a business trust. OUE said it will initially inject two assets in the trust- the Mandarin Orchard hotel and the Mandarin Gallery mall along Orchard Road.
Also, a business hotel next to Changi Airport and two hospitality assets in China may be offered to OUE Hospitality Trust, according to the IPO prospectus. The properties, which have a total valuation of S$413.0 million as at 31 December 2013, could potentially double the number of hotel rooms owned by the trust, according to the document.
Led by Indonesian tycoon Stephen Riady, OUE revived plans for the REIT listing soon after it lost the battle to buy Fraser and Neave to Thai billionaire Charoen Sirivadhanabhakdi.
OUE also owns hotel properties outside Singapore, including Meritus Pelangi Beach Resort & Spa Langkawi in Malaysia and Meritus Mandarin Haikou and Meritus Shantou in China.
The share sale was managed by Credit Suisse Group AG, Goldman Sachs Group Inc. and Standard Chartered Plc.
The retail tranche of the offering opens Thursday while listing will be on July 25.
OUE’s IPO follows that of media group Singapore Press Holdings (SPH)’s REIT offering, priced at S$0.90 per unit Wednesday.
SPH said the final price, at the top end of the indicated range, was settled after seeing strong institutional investor response during the bookbuilding process, amounting to approximately 42 times the number of units offered under the placement tranche.
The media group is expected to raise S$504.0 million on offering of 308.9 million units to institutional and public investors, and 251 million units to cornerstone investors such as Great Eastern Life Assurance Company, Hong Leong Asset Management and Morgan Stanley Investment Management Company.
At S$0.90 per unit, SPH REIT offers a yield of 5.58 per cent and 5.79 per cent for the forecast period 2H2013 and projection year 2014, respectively.
The SPH REIT’s assets will include the luxury Paragon mall in the prime shopping district of Orchard Road and the suburban Clementi Mall.
REITs and business trusts were the biggest fundraisers in Singapore’s initial public offering market in the past year, accounting for US$4.16 billion of the US$6.2 billion of stock priced, according to data compiled by Bloomberg.
The biggest share sale was the S$1.6 billion raised by Mapletree Greater China Commercial Trust, a REIT that owns assets including the Festival Walk shopping mall in Hong Kong and an office complex in Beijing.
The citystate lists 23 REITs and is the largest REIT market in Asia ex-Japan. Singapore-listed REITs have a combined market capitalisation of S$52.0 billion. Together the 23 REITs provide a diverse mix of local and international property assets that house industrial, commercial, retail, residential and specialised tenants.
More good news coming?
- wong chee tat :)
Greece austerity push to cost thousands of jobs
Greece austerity push to cost thousands of jobs
POSTED: 18 Jul 2013 1:36 PM
Greek deputies narrowly approved another wave of lay-offs and wage cuts affecting thousands of public sector workers Thursday, hours ahead of a rare visit to the country by the German finance minister.
ATHENS, Attica: Greek deputies narrowly approved another wave of lay-offs and wage cuts affecting thousands of public sector workers Thursday, hours ahead of a rare visit to the country by the German finance minister.
The sweeping bill of reforms, tied to the country's next tranche of EU-IMF loans, was passed despite days of street protests.
It gives thousands of civil servants -- including teachers and municipal police -- eight months on reduced salaries to find new posts elsewhere, or accept those offered to them.
Otherwise, they will lose their jobs.
Hundreds of protesters had gathered outside parliament for the late-night vote, a day after thousands had demonstrated in a general strike called against the reform.
The coalition government's majority carried most of the tougher articles by a vote of 153 to 140, the parliament speaker said.
It was a close call for the coalition, which has a five-seat majority in the chamber.
Two government deputies did not attend the vote, and a third had to be brought out of hospital to cast his ballot, reports said.
The bill's approval will enable Greece to receive its next instalment of 6.8 billion euros ($8.9 billion) in rescue funds cleared by eurozone finance ministers.
The vote came just hours before German Finance Minister Wolfgang Schaeuble was to make a rare visit to Athens Thursday, reportedly to help set up a support fund for struggling businesses.
His visit poses another challenge for authorities. Schaeuble is seen by some in Greece as a champion of the tough austerity policies that have gripped the country like a vice for the past four years.
A large security cordon will be thrown around Athens to ward off possible protests during his visit.
Greece has been forced to implement a series of painful reforms over the past four years in exchange for 240 billion euros in rescue funds put up by the European Union and International Monetary Fund.
The sweeping job, pay and pension cuts have hit Greeks hard, sparking mass protests and general strikes.
Overall, Greece must redeploy 25,000 civil servants and fire another 4,000 by the end of the year.
About 4,200 state staff are already due to be redeployed by the end of July.
The main opposition Syriza leftists have called the measure "human sacrifice", and said the country's creditors were motivated by "hatred" for demanding it.
Prime Minister Antonis Samaras on Wednesday defended the unpopular measure.
"Better days will come for our people," he said in a televised address hours before the vote.
"We will not let up. We will climb uphill and reach the end, which is not far."
He also announced a 10-percent drop in restaurant sales tax to boost the tourist season.
Samaras has been under heavy pressure this past month to hold his government together after losing one of his coalition allies in June in the wake of an earlier round of job cuts affecting state broadcaster ERT.
The bill also covers a partial overhaul of the tax system, including the introduction of new criteria for taxable income and the adjustment of tax thresholds.
Some 52 specialities taught at public vocational schools will also be abolished from next week according to the bill, which leading union GSEE has called a "tombstone" for Greek workers.
About 4,000 civil servants, according to a police source, staged a sit-in on Wednesday in Athens' central Syntagma square near the parliament to protest against the vote.
The orange jackets of school caretakers mingled with the khaki uniforms of municipal police officers.
"They have destroyed our dreams," said municipal worker Nekatorios Chargidis, in tears. "What are we going to be able to tell our children?"
Municipal employees have been on strike since Monday, with garbage piling up in the streets as a result.
On Tuesday, more than 20,000 people protested in Athens and Greece's second city Thessaloniki during a general strike called by the main unions.
Now in its sixth year running of recession and with the unemployment rate at a record 27 percent, Greece is not expected to post growth before 2014.
- AFP/ac
- wong chee tat :)
POSTED: 18 Jul 2013 1:36 PM
Greek deputies narrowly approved another wave of lay-offs and wage cuts affecting thousands of public sector workers Thursday, hours ahead of a rare visit to the country by the German finance minister.
ATHENS, Attica: Greek deputies narrowly approved another wave of lay-offs and wage cuts affecting thousands of public sector workers Thursday, hours ahead of a rare visit to the country by the German finance minister.
The sweeping bill of reforms, tied to the country's next tranche of EU-IMF loans, was passed despite days of street protests.
It gives thousands of civil servants -- including teachers and municipal police -- eight months on reduced salaries to find new posts elsewhere, or accept those offered to them.
Otherwise, they will lose their jobs.
Hundreds of protesters had gathered outside parliament for the late-night vote, a day after thousands had demonstrated in a general strike called against the reform.
The coalition government's majority carried most of the tougher articles by a vote of 153 to 140, the parliament speaker said.
It was a close call for the coalition, which has a five-seat majority in the chamber.
Two government deputies did not attend the vote, and a third had to be brought out of hospital to cast his ballot, reports said.
The bill's approval will enable Greece to receive its next instalment of 6.8 billion euros ($8.9 billion) in rescue funds cleared by eurozone finance ministers.
The vote came just hours before German Finance Minister Wolfgang Schaeuble was to make a rare visit to Athens Thursday, reportedly to help set up a support fund for struggling businesses.
His visit poses another challenge for authorities. Schaeuble is seen by some in Greece as a champion of the tough austerity policies that have gripped the country like a vice for the past four years.
A large security cordon will be thrown around Athens to ward off possible protests during his visit.
Greece has been forced to implement a series of painful reforms over the past four years in exchange for 240 billion euros in rescue funds put up by the European Union and International Monetary Fund.
The sweeping job, pay and pension cuts have hit Greeks hard, sparking mass protests and general strikes.
Overall, Greece must redeploy 25,000 civil servants and fire another 4,000 by the end of the year.
About 4,200 state staff are already due to be redeployed by the end of July.
The main opposition Syriza leftists have called the measure "human sacrifice", and said the country's creditors were motivated by "hatred" for demanding it.
Prime Minister Antonis Samaras on Wednesday defended the unpopular measure.
"Better days will come for our people," he said in a televised address hours before the vote.
"We will not let up. We will climb uphill and reach the end, which is not far."
He also announced a 10-percent drop in restaurant sales tax to boost the tourist season.
Samaras has been under heavy pressure this past month to hold his government together after losing one of his coalition allies in June in the wake of an earlier round of job cuts affecting state broadcaster ERT.
The bill also covers a partial overhaul of the tax system, including the introduction of new criteria for taxable income and the adjustment of tax thresholds.
Some 52 specialities taught at public vocational schools will also be abolished from next week according to the bill, which leading union GSEE has called a "tombstone" for Greek workers.
About 4,000 civil servants, according to a police source, staged a sit-in on Wednesday in Athens' central Syntagma square near the parliament to protest against the vote.
The orange jackets of school caretakers mingled with the khaki uniforms of municipal police officers.
"They have destroyed our dreams," said municipal worker Nekatorios Chargidis, in tears. "What are we going to be able to tell our children?"
Municipal employees have been on strike since Monday, with garbage piling up in the streets as a result.
On Tuesday, more than 20,000 people protested in Athens and Greece's second city Thessaloniki during a general strike called by the main unions.
Now in its sixth year running of recession and with the unemployment rate at a record 27 percent, Greece is not expected to post growth before 2014.
- AFP/ac
- wong chee tat :)
My First Skool to implement measures to reassure parents amid alleged abuse case
My First Skool to implement measures to reassure parents amid alleged abuse case
POSTED: 18 Jul 2013 8:01 PM
My First Skool, which is embroiled in an alleged childcare abuse case, said it has put in place measures across all its centres to provide further reassurance to parents.
SINGAPORE: My First Skool, which is embroiled in an alleged childcare abuse case, said it has put in place measures across all its centres to provide further reassurance to parents.
On Wednesday, My First Skool was informed by the Early Childhood Development Agency through a warning letter that the licence tenure of its childcare centre at Blk 192 Toa Payoh would be cut from 24 months to six months with immediate effect.
The measures are aimed at improving its communications with parents, enhancing the incident review process, reinforcing the importance of proper care of children and stepping up support for teachers.
To improve parent communications, parents can direct their queries to its headquarters via a newly-set up email address (feedback@myfirstskool.com). Calls can also be made to its customer service team at 6634 9989.
My First Skool's management said it will see to the closure of all feedback.
As for improving the incident review process, it said all cases of injury, accident or mishandling reported through its principals or HQ are investigated thoroughly and promptly.
It added that complex cases will be assessed by an independent review panel with the aim to give parents greater assurance of transparency and accountability of the incident review process.
In terms of proper care for children, My First Skool said it will encourage staff to report questionable practices to their supervisors.
It wants its staff to escalate their feedback under its whistle-blowing policy should the issues not be satisfactorily attended to.
My First Skool said whistle blowing is done through an independent channel which reports to the board audit committee.
As for support for teachers, My First Skool said it will also deploy additional resources over time to assist teachers in managing classes that require more support.
- CNA/xq
- wong chee tat :)
POSTED: 18 Jul 2013 8:01 PM
My First Skool, which is embroiled in an alleged childcare abuse case, said it has put in place measures across all its centres to provide further reassurance to parents.
SINGAPORE: My First Skool, which is embroiled in an alleged childcare abuse case, said it has put in place measures across all its centres to provide further reassurance to parents.
On Wednesday, My First Skool was informed by the Early Childhood Development Agency through a warning letter that the licence tenure of its childcare centre at Blk 192 Toa Payoh would be cut from 24 months to six months with immediate effect.
The measures are aimed at improving its communications with parents, enhancing the incident review process, reinforcing the importance of proper care of children and stepping up support for teachers.
To improve parent communications, parents can direct their queries to its headquarters via a newly-set up email address (feedback@myfirstskool.com). Calls can also be made to its customer service team at 6634 9989.
My First Skool's management said it will see to the closure of all feedback.
As for improving the incident review process, it said all cases of injury, accident or mishandling reported through its principals or HQ are investigated thoroughly and promptly.
It added that complex cases will be assessed by an independent review panel with the aim to give parents greater assurance of transparency and accountability of the incident review process.
In terms of proper care for children, My First Skool said it will encourage staff to report questionable practices to their supervisors.
It wants its staff to escalate their feedback under its whistle-blowing policy should the issues not be satisfactorily attended to.
My First Skool said whistle blowing is done through an independent channel which reports to the board audit committee.
As for support for teachers, My First Skool said it will also deploy additional resources over time to assist teachers in managing classes that require more support.
- CNA/xq
- wong chee tat :)
OUE's hospitality trust IPO priced at bottom of range
OUE's hospitality trust IPO priced at bottom of range
By Wong Siew Ying
POSTED: 18 Jul 2013 5:47 PM
Hotel and property group Overseas Union Enterprise (OUE) will raise about S$600 million in an initial public offering (IPO) of its hospitality trust.
SINGAPORE: Hotel and property group Overseas Union Enterprise (OUE) will raise about S$600 million in an initial public offering (IPO) of its hospitality trust.
OUE Hospitality Trust plans to sell its units at 88 Singapore cents each which is at the bottom of its indicative range.
This comes a day after Singapore Press Holdings priced an IPO of its retail-centric REIT.
OUE said the offer price translates to a projected yield of 7.46 per cent for 2014.
OUE Hospitality Trust's initial asset portfolio will comprise retail mall Mandarin Gallery and hotel Mandarin Orchard Singapore.
The developer is selling about 434.6 million units to institutional and retail investors.
Another 247.2 million units are set aside for five cornerstone investors.
The IPO will be launched at 6pm on July 18.
OUE said the public offer closes on July 23 and trading is expected to start on July 25.
- CNA/fa
- wong chee tat :)
By Wong Siew Ying
POSTED: 18 Jul 2013 5:47 PM
Hotel and property group Overseas Union Enterprise (OUE) will raise about S$600 million in an initial public offering (IPO) of its hospitality trust.
SINGAPORE: Hotel and property group Overseas Union Enterprise (OUE) will raise about S$600 million in an initial public offering (IPO) of its hospitality trust.
OUE Hospitality Trust plans to sell its units at 88 Singapore cents each which is at the bottom of its indicative range.
This comes a day after Singapore Press Holdings priced an IPO of its retail-centric REIT.
OUE said the offer price translates to a projected yield of 7.46 per cent for 2014.
OUE Hospitality Trust's initial asset portfolio will comprise retail mall Mandarin Gallery and hotel Mandarin Orchard Singapore.
The developer is selling about 434.6 million units to institutional and retail investors.
Another 247.2 million units are set aside for five cornerstone investors.
The IPO will be launched at 6pm on July 18.
OUE said the public offer closes on July 23 and trading is expected to start on July 25.
- CNA/fa
- wong chee tat :)
Sex bloggers plead not guilty to sedition charge
Sex bloggers plead not guilty to sedition charge
POSTED: 18 Jul 2013 4:36 PM
Malaysia's infamous sex blogging couple on Thursday pleaded not guilty in the district court for posting insensitive Ramadan comments on their Facebook page and pornographic pictures in their blogs.
KUALA LUMPUR: Malaysia's infamous sex blogging couple on Thursday pleaded not guilty in the district court in Kuala Lumpur to three charges related to their action in posting their insensitive Ramadan greeting on their Facebook page and pornographic pictures in their blogs.
The charges against Alvin Tan Jye Yee, 25, and Vivian Lee May Ling, 24, were read before Judge Murtazadi Amran.
The couple were denied bail and will be jailed pending trial, said a court official. The next court date has been set for August 23.
Sedition is punishable by up to three years in jail.
In the first charge, they were jointly accused of making a seditious posting on their Facebook page by uploading a photo of themselves eating bak kut teh (a Chinese herbal pork soup) with a caption "Selamat Berbuka Puasa" - a Malay greeting for breaking fast.
They allegedly committed the offence at 10.48pm between July 11 and 12.
They were charged under subsection 4(1)(c) of the Sedition Act 1948 which is punishable under subsection 4(1) of the same Act and read together with Section 34 of the Penal Code.
For the first offence, they face a fine up to RM5,000, an imprisonment up to three years or both, and imprisonment up to five years for subsequent offence.
The couple later apologised in a video on YouTube for the posting, which sparked widespread anger. Their Facebook page is no longer accessible.
Prime Minister Najib Razak criticised the couple on Wednesday while discussing implementing a new law to replace the colonial-era sedition act, which has been slammed by critics as a tool to crack down on dissent.
"The insolent and impudent act by the young couple who insulted Islam showed that freedom of expression and irresponsible opinion can jeopardise the community," he was quoted by The Star as saying.
Last year Lee, a kindergarten teacher, and Tan, who is currently unemployed and a former law student at the National University of Singapore, sparked outrage in Malaysia and Singapore by posting erotic photographs and videos of their lovemaking as well as close-ups of their genitals on a blog.
The duo, who said they aimed to destigmatise sex, shut down the blog because of family pressure in the conservative countries, where pornography is illegal.
- BERNAMA/AFP/fa
- wong chee tat :)
POSTED: 18 Jul 2013 4:36 PM
Malaysia's infamous sex blogging couple on Thursday pleaded not guilty in the district court for posting insensitive Ramadan comments on their Facebook page and pornographic pictures in their blogs.
KUALA LUMPUR: Malaysia's infamous sex blogging couple on Thursday pleaded not guilty in the district court in Kuala Lumpur to three charges related to their action in posting their insensitive Ramadan greeting on their Facebook page and pornographic pictures in their blogs.
The charges against Alvin Tan Jye Yee, 25, and Vivian Lee May Ling, 24, were read before Judge Murtazadi Amran.
The couple were denied bail and will be jailed pending trial, said a court official. The next court date has been set for August 23.
Sedition is punishable by up to three years in jail.
In the first charge, they were jointly accused of making a seditious posting on their Facebook page by uploading a photo of themselves eating bak kut teh (a Chinese herbal pork soup) with a caption "Selamat Berbuka Puasa" - a Malay greeting for breaking fast.
They allegedly committed the offence at 10.48pm between July 11 and 12.
They were charged under subsection 4(1)(c) of the Sedition Act 1948 which is punishable under subsection 4(1) of the same Act and read together with Section 34 of the Penal Code.
For the first offence, they face a fine up to RM5,000, an imprisonment up to three years or both, and imprisonment up to five years for subsequent offence.
The couple later apologised in a video on YouTube for the posting, which sparked widespread anger. Their Facebook page is no longer accessible.
Prime Minister Najib Razak criticised the couple on Wednesday while discussing implementing a new law to replace the colonial-era sedition act, which has been slammed by critics as a tool to crack down on dissent.
"The insolent and impudent act by the young couple who insulted Islam showed that freedom of expression and irresponsible opinion can jeopardise the community," he was quoted by The Star as saying.
Last year Lee, a kindergarten teacher, and Tan, who is currently unemployed and a former law student at the National University of Singapore, sparked outrage in Malaysia and Singapore by posting erotic photographs and videos of their lovemaking as well as close-ups of their genitals on a blog.
The duo, who said they aimed to destigmatise sex, shut down the blog because of family pressure in the conservative countries, where pornography is illegal.
- BERNAMA/AFP/fa
- wong chee tat :)
My First Skool in Toa Payoh gets licence tenure cut
My First Skool in Toa Payoh gets licence tenure cut
By Kimberly Spykerman
POSTED: 18 Jul 2013 12:32 PM
The childcare centre involved in the alleged child abuse case has had its licence tenure cut from 24 months to six months.
SINGAPORE: The childcare centre involved in the alleged child abuse case has had its licence tenure cut from 24 months to six months.
Earlier this month, a teacher there was arrested after CCTV footage showed her allegedly dragging a three-year-old boy across the floor and pushing him to the floor with force.
The Early Childhood Development Agency (ECDA) said that it conducted its investigations at My First Skool in Toa Payoh and found that there were certain aspects that required improvements.
This means that ECDA will conduct more frequent checks at the centre and it will have to demonstrate its compliance with certain conditions. This includes providing better support and training to its teachers to handle difficult situations, clearer standard operating procedures for reporting incidents, and improving its programmes.
Acting Minister for Social and Family Development Chan Chun Sing added that following the alleged abuse incident, the priority is to strengthen processes within the sector, as well as build trust between parents, teachers and operators.
He said this on Thursday on the sidelines of a visit to teacher training programmes and pre-schools under the Crestar Education Group.
Mr Chan said: "Over the next six months we fully expect NTUC My First Skool to work closely with ECDA to comply with the regulations so that they can up their standards necessary. And then we will review the situation after six months."
- CNA/ac/xq
- wong chee tat :)
By Kimberly Spykerman
POSTED: 18 Jul 2013 12:32 PM
The childcare centre involved in the alleged child abuse case has had its licence tenure cut from 24 months to six months.
SINGAPORE: The childcare centre involved in the alleged child abuse case has had its licence tenure cut from 24 months to six months.
Earlier this month, a teacher there was arrested after CCTV footage showed her allegedly dragging a three-year-old boy across the floor and pushing him to the floor with force.
The Early Childhood Development Agency (ECDA) said that it conducted its investigations at My First Skool in Toa Payoh and found that there were certain aspects that required improvements.
This means that ECDA will conduct more frequent checks at the centre and it will have to demonstrate its compliance with certain conditions. This includes providing better support and training to its teachers to handle difficult situations, clearer standard operating procedures for reporting incidents, and improving its programmes.
Acting Minister for Social and Family Development Chan Chun Sing added that following the alleged abuse incident, the priority is to strengthen processes within the sector, as well as build trust between parents, teachers and operators.
He said this on Thursday on the sidelines of a visit to teacher training programmes and pre-schools under the Crestar Education Group.
Mr Chan said: "Over the next six months we fully expect NTUC My First Skool to work closely with ECDA to comply with the regulations so that they can up their standards necessary. And then we will review the situation after six months."
- CNA/ac/xq
- wong chee tat :)
Canada central bank maintains key lending rate at 1%
Canada central bank maintains key lending rate at 1%
POSTED: 17 Jul 2013 10:57 PM
Canada's central bank on Wednesday held its key interest rate at 1.0 per cent, while downgrading its global economic forecast.
OTTAWA: Canada's central bank on Wednesday held its key interest rate at 1.0 per cent, while downgrading its global economic forecast.
The Bank of Canada pointed to a struggling European economy and a slowdown in China, offsetting recent gains in Japan and the United States
"Global economic growth remains modest," the bank said in a statement.
It also hinted it would maintain for the foreseeable future its near historic low rate, which has been in place since September 2010.
"As long as there is significant slack in the Canadian economy, the inflation outlook remains muted, and imbalances in the household sector continue to evolve constructively, the considerable monetary policy stimulus currently in place will remain appropriate," it said.
The bank noted that US economy is growing at a "moderate pace," with continued strengthening in private sector demand partly offset by the impact of fiscal consolidation.
Meanwhile Japan's recent stimulus has led to "a rapid recovery in economic growth," the bank said.
However, Europe's economy "remains weak" and economic growth in China and other emerging nations "has slowed, exerting downward pressure on global commodity prices."
"As a consequence, the bank has downgraded slightly its global growth forecast," it said, adding that the global economy is still expected to pick up in 2014 and 2015.
In Canada, growth is expected to be "choppy in the near term, owing to unusual temporary factors," the bank said.
Despite ongoing competitiveness challenges, Canadian exports are projected to "gather momentum," which in turn will boost confidence and lead to more business investment, it said.
The Canadian economy will also be supported by continued growth in consumer spending, while a bit less is expected to be spent on new homes.
- AFP/fa
- wong chee tat :)
POSTED: 17 Jul 2013 10:57 PM
Canada's central bank on Wednesday held its key interest rate at 1.0 per cent, while downgrading its global economic forecast.
OTTAWA: Canada's central bank on Wednesday held its key interest rate at 1.0 per cent, while downgrading its global economic forecast.
The Bank of Canada pointed to a struggling European economy and a slowdown in China, offsetting recent gains in Japan and the United States
"Global economic growth remains modest," the bank said in a statement.
It also hinted it would maintain for the foreseeable future its near historic low rate, which has been in place since September 2010.
"As long as there is significant slack in the Canadian economy, the inflation outlook remains muted, and imbalances in the household sector continue to evolve constructively, the considerable monetary policy stimulus currently in place will remain appropriate," it said.
The bank noted that US economy is growing at a "moderate pace," with continued strengthening in private sector demand partly offset by the impact of fiscal consolidation.
Meanwhile Japan's recent stimulus has led to "a rapid recovery in economic growth," the bank said.
However, Europe's economy "remains weak" and economic growth in China and other emerging nations "has slowed, exerting downward pressure on global commodity prices."
"As a consequence, the bank has downgraded slightly its global growth forecast," it said, adding that the global economy is still expected to pick up in 2014 and 2015.
In Canada, growth is expected to be "choppy in the near term, owing to unusual temporary factors," the bank said.
Despite ongoing competitiveness challenges, Canadian exports are projected to "gather momentum," which in turn will boost confidence and lead to more business investment, it said.
The Canadian economy will also be supported by continued growth in consumer spending, while a bit less is expected to be spent on new homes.
- AFP/fa
- wong chee tat :)
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