Om Mani Padme Hum
- wong chee tat :)
Wednesday, April 17, 2013
Drop in companies' long-term debts: DP Information Group
Drop in companies' long-term debts: DP Information Group
POSTED: 17 Apr 2013 12:33 AM
A study by DP Information Group has showed that Singapore companies are starting to pay up on their long-term debts.
SINGAPORE : A study by DP Information Group has showed that Singapore companies are starting to pay up on their long-term debts.
According to the Q1 2013 Trade Payment Data released on Tuesday by the DP SME Commercial Credit Bureau, severely delinquent debts have nearly halved, dropping to just 15 per cent.
DP Information said these refer to debts which are unpaid for more than 90 days and they have been growing steadily since 2011 to reach a peak of 29 per cent during the third quarter of 2012.
It added that there are several factors that may have contributed to the drop in long-term debts.
Ong Siew Kim, senior general manager of DP Information Group, said: "Companies tend to be better payers towards the end of the financial year. We regularly see improvements in the fourth quarter as companies settle debts and square off their books.
"We have also seen an increase in companies being more active in pursuing debts, either through professional receivables companies or by having their accounts staff chase outstanding amounts."
Ms Ong added that it is also possible that a portion of the debt has been written off when companies accept that the debt has gone bad.
While the payment of long-standing debts has improved, the rate of payment of all debts has remained the same as last quarter, at 38 days.
DP Information said the construction, communications/logistics, healthcare/medical and services sectors have enjoyed speedier payments during the first quarter of the year.
However, credit companies and those in the shipping/marine and utilities/fuels sectors have seen the rate they get paid slow down.
The findings are based on payments made by more than 120,000 corporations and small and medium enterprises in Singapore each quarter.
- CNA/ms
- wong chee tat :)
POSTED: 17 Apr 2013 12:33 AM
A study by DP Information Group has showed that Singapore companies are starting to pay up on their long-term debts.
SINGAPORE : A study by DP Information Group has showed that Singapore companies are starting to pay up on their long-term debts.
According to the Q1 2013 Trade Payment Data released on Tuesday by the DP SME Commercial Credit Bureau, severely delinquent debts have nearly halved, dropping to just 15 per cent.
DP Information said these refer to debts which are unpaid for more than 90 days and they have been growing steadily since 2011 to reach a peak of 29 per cent during the third quarter of 2012.
It added that there are several factors that may have contributed to the drop in long-term debts.
Ong Siew Kim, senior general manager of DP Information Group, said: "Companies tend to be better payers towards the end of the financial year. We regularly see improvements in the fourth quarter as companies settle debts and square off their books.
"We have also seen an increase in companies being more active in pursuing debts, either through professional receivables companies or by having their accounts staff chase outstanding amounts."
Ms Ong added that it is also possible that a portion of the debt has been written off when companies accept that the debt has gone bad.
While the payment of long-standing debts has improved, the rate of payment of all debts has remained the same as last quarter, at 38 days.
DP Information said the construction, communications/logistics, healthcare/medical and services sectors have enjoyed speedier payments during the first quarter of the year.
However, credit companies and those in the shipping/marine and utilities/fuels sectors have seen the rate they get paid slow down.
The findings are based on payments made by more than 120,000 corporations and small and medium enterprises in Singapore each quarter.
- CNA/ms
- wong chee tat :)
Pulau Ubin residents to start paying rent for first year
Pulau Ubin residents to start paying rent for first year
By Saifulbahri Ismail
POSTED: 17 Apr 2013 2:27 PM
Authorities say no plans to evict households residing on Pulau Ubin
The Singapore Land Authority and the Housing Development Board said the rent is subsidised and 90 per cent of the 22 households in Pulau Ubin will pay less than S$20 per month in the first year.
SINGAPORE: Residents in Pulau Ubin affected by the recent census survey will have to start paying monthly rent between S$6 to S$35 in the first year if they choose to stay on the island.
In a joint statement issued by the Singapore Land Authority (SLA) and the Housing Development Board (HDB) on Wednesday, the rent is subsidised and 90 per cent of the 22 households will pay less than S$20 per month in the first year.
However, the rent will be increased over five years based on market rates.
From the sixth year, the rent will range between S$31 and S$205 per month.
Ninety per cent of the households are expected to pay less than S$120 per month.
Residents can continue to remain on the island via a Temporary Occupational Licence (TOL) as there are no other plans for the State land in the foreseeable future.
The fee is determined based on the gross area and land area occupied.
SLA and HDB issued the statement to clarify the confusion caused by the Notice of Census Survey that was served on the 22 households on 12 March.
They reiterated that the residents are not being evicted and they can continue to stay on in their premises.
In addition, the planning intention is to keep Pulau Ubin in its rustic state for as long as possible.
The Notice of Census Survey that HDB served on the residents made reference to the past planning intent, which was originally described in 1993 as the development of an adventure park.
Many residents had taken it to be eviction notices.
The census survey had made reference to "resettlement" benefits and a "clearance" scheme.
SLA and HDB clarified that the terms used were in connection to the 1993 plan.
The authorities acknowledged that the notification could have been more carefully worded and the language updated to reflect the eventual development.
SLA and HDB have apologised for the anxiety caused to the residents involved.
- CNA/ck
- wong chee tat :)
By Saifulbahri Ismail
POSTED: 17 Apr 2013 2:27 PM
Authorities say no plans to evict households residing on Pulau Ubin
The Singapore Land Authority and the Housing Development Board said the rent is subsidised and 90 per cent of the 22 households in Pulau Ubin will pay less than S$20 per month in the first year.
SINGAPORE: Residents in Pulau Ubin affected by the recent census survey will have to start paying monthly rent between S$6 to S$35 in the first year if they choose to stay on the island.
In a joint statement issued by the Singapore Land Authority (SLA) and the Housing Development Board (HDB) on Wednesday, the rent is subsidised and 90 per cent of the 22 households will pay less than S$20 per month in the first year.
However, the rent will be increased over five years based on market rates.
From the sixth year, the rent will range between S$31 and S$205 per month.
Ninety per cent of the households are expected to pay less than S$120 per month.
Residents can continue to remain on the island via a Temporary Occupational Licence (TOL) as there are no other plans for the State land in the foreseeable future.
The fee is determined based on the gross area and land area occupied.
SLA and HDB issued the statement to clarify the confusion caused by the Notice of Census Survey that was served on the 22 households on 12 March.
They reiterated that the residents are not being evicted and they can continue to stay on in their premises.
In addition, the planning intention is to keep Pulau Ubin in its rustic state for as long as possible.
The Notice of Census Survey that HDB served on the residents made reference to the past planning intent, which was originally described in 1993 as the development of an adventure park.
Many residents had taken it to be eviction notices.
The census survey had made reference to "resettlement" benefits and a "clearance" scheme.
SLA and HDB clarified that the terms used were in connection to the 1993 plan.
The authorities acknowledged that the notification could have been more carefully worded and the language updated to reflect the eventual development.
SLA and HDB have apologised for the anxiety caused to the residents involved.
- CNA/ck
- wong chee tat :)
Cisco opens new regional HQ in S'pore
Cisco opens new regional HQ in S'pore
POSTED: 17 Apr 2013 7:43 PM
IT giant Cisco officially opened its new regional headquarters in Singapore on Wednesday -- marking its 20th year in the city-state.
SINGAPORE: IT giant Cisco officially opened its new regional headquarters in Singapore on Wednesday -- marking its 20th year in the city-state.
The new office houses Cisco's operations for Singapore and the greater Asia region -- including operations, sales, marketing, human resources, finance and Cisco services. It will also feature a customer briefing centre, where Cisco technologies will be available for demonstrations.
The 120,000 square feet office complex is located in the Changi Business Park and boasts an environmentally-friendly workspace. The building consolidates Cisco's 4 offices from around the island, putting its 1,000 employees all under the same roof.
As the IT industry continues to grow, the company said there is room to expand.
Jaime Valles, president (Asia Pacific, Japan and Greater China) at Cisco, said: "We are in the process of connecting the 99 per cent that is not connected. In fact for many years, the internet, since 1994 in Singapore, we have been able to connect one per cent of the devices that can be connected.
"And when you start connecting sensors, when you start connecting machine to machine, people to machine, we know it's going to change everything we do across Asia Pacific, Japan and China.
"And Singapore is very connected.In the world economic forum, in the network readiness index, it came across as one of the top three countries in the world. So it allows us to do that."
Cisco first came to Singapore in 1993 and established the city-state as its Greater Asia headquarters in January 1998.
- CNA/ac
- wong chee tat :)
POSTED: 17 Apr 2013 7:43 PM
IT giant Cisco officially opened its new regional headquarters in Singapore on Wednesday -- marking its 20th year in the city-state.
SINGAPORE: IT giant Cisco officially opened its new regional headquarters in Singapore on Wednesday -- marking its 20th year in the city-state.
The new office houses Cisco's operations for Singapore and the greater Asia region -- including operations, sales, marketing, human resources, finance and Cisco services. It will also feature a customer briefing centre, where Cisco technologies will be available for demonstrations.
The 120,000 square feet office complex is located in the Changi Business Park and boasts an environmentally-friendly workspace. The building consolidates Cisco's 4 offices from around the island, putting its 1,000 employees all under the same roof.
As the IT industry continues to grow, the company said there is room to expand.
Jaime Valles, president (Asia Pacific, Japan and Greater China) at Cisco, said: "We are in the process of connecting the 99 per cent that is not connected. In fact for many years, the internet, since 1994 in Singapore, we have been able to connect one per cent of the devices that can be connected.
"And when you start connecting sensors, when you start connecting machine to machine, people to machine, we know it's going to change everything we do across Asia Pacific, Japan and China.
"And Singapore is very connected.In the world economic forum, in the network readiness index, it came across as one of the top three countries in the world. So it allows us to do that."
Cisco first came to Singapore in 1993 and established the city-state as its Greater Asia headquarters in January 1998.
- CNA/ac
- wong chee tat :)
Gold price volatility likely to continue, say market watchers
Gold price volatility likely to continue, say market watchers
By Yvonne Chan
POSTED: 17 Apr 2013 10:37 PM
UPDATED: 17 Apr 2013 10:55 PM
Gold rebounded slightly on Wednesday, after falling to a two-year low on Tuesday, However, market watchers said gold price volatility is likely to continue.
Gold jewellery being displayed at a jewellery tore in Singapore.
SINGAPORE: Gold rebounded slightly on Wednesday, after falling to a two-year low on Tuesday,
However, market watchers said gold price volatility is likely to continue.
Gold prices have suffered about 20 per cent losses since the beginning of the year, following uncertainty over the US Federal Reserve's stimulus programme and Cyprus' plan to sell bullion reserves to raise cash.
Speculation is rife that gold might continue to trade in the range of US$1,150 to US$1,500 -- off its peak of US$1,921 in 2011.
Retailers expect demand for gold jewellery to pick up in the coming months.
Charles Ho, managing director of On Cheong Jewellery, said: "Now, it's not a good season for gold buying, especially during Ching Ming.
"But it will pick up around the beginning of May, the wedding month, and I believe most Chinese couples will make use of this opportunity to start buying."
Given gold's recent fall from grace, there has been a bit of panic selling in the market. But as gold prices fall, gold jewellery becomes more attractive and experts say demand for gold jewellery will continue to be driven by Indian and Chinese customers.
The recent plunge has triggered interest in the trading of physical gold in Singapore, according to UOB -- the only bank offering gold savings accounts.
Ms Beh Hsia Wa, director of UOB Bullion and Futures, said: "Yesterday, we saw strong physical buying interest at the UOB main branch from retail customers. Buying interest continued today but was not as high as yesterday, despite a lower gold price.
"Wholesale physical customers, however, were not buying as much as they did when gold price was above US$1,500 last week. We suspect these investors are taking a wait-and-see approach."
But even if gold were to recover from its current lows over the next six to twelve months, analysts say it might be more prudent to protect against the downside with other precious metals.
Dominic Schnider, head of commodity research at UBS Wealth Management Research, said: "The sharp drop probably has damaged the reputation of gold and that means we'll see less investment demand and investment demand really pushes up the price of gold.
"One of our top calls have been platinum, since the beginning of the year. It's held up really well this year, only down three to four per cent year to date, considerably less than gold and I still think platinum will outperform, but trading below marginal production costs.
"So that gives you confidence that the downside in prices is floored. So with market in deficit, platinum has a better risk reward profile. You can buy this with ETF or normal standard vehicles. For those who can bear more risks, I would say palladium is a better choice. A market which is more in deficit than platinum but it comes with more volatility."
For now, the outlook on gold remains bearish, as the metal loses its lustre as a safe haven.
- CNA/ac
- wong chee tat :)
By Yvonne Chan
POSTED: 17 Apr 2013 10:37 PM
UPDATED: 17 Apr 2013 10:55 PM
Gold rebounded slightly on Wednesday, after falling to a two-year low on Tuesday, However, market watchers said gold price volatility is likely to continue.
Gold jewellery being displayed at a jewellery tore in Singapore.
SINGAPORE: Gold rebounded slightly on Wednesday, after falling to a two-year low on Tuesday,
However, market watchers said gold price volatility is likely to continue.
Gold prices have suffered about 20 per cent losses since the beginning of the year, following uncertainty over the US Federal Reserve's stimulus programme and Cyprus' plan to sell bullion reserves to raise cash.
Speculation is rife that gold might continue to trade in the range of US$1,150 to US$1,500 -- off its peak of US$1,921 in 2011.
Retailers expect demand for gold jewellery to pick up in the coming months.
Charles Ho, managing director of On Cheong Jewellery, said: "Now, it's not a good season for gold buying, especially during Ching Ming.
"But it will pick up around the beginning of May, the wedding month, and I believe most Chinese couples will make use of this opportunity to start buying."
Given gold's recent fall from grace, there has been a bit of panic selling in the market. But as gold prices fall, gold jewellery becomes more attractive and experts say demand for gold jewellery will continue to be driven by Indian and Chinese customers.
The recent plunge has triggered interest in the trading of physical gold in Singapore, according to UOB -- the only bank offering gold savings accounts.
Ms Beh Hsia Wa, director of UOB Bullion and Futures, said: "Yesterday, we saw strong physical buying interest at the UOB main branch from retail customers. Buying interest continued today but was not as high as yesterday, despite a lower gold price.
"Wholesale physical customers, however, were not buying as much as they did when gold price was above US$1,500 last week. We suspect these investors are taking a wait-and-see approach."
But even if gold were to recover from its current lows over the next six to twelve months, analysts say it might be more prudent to protect against the downside with other precious metals.
Dominic Schnider, head of commodity research at UBS Wealth Management Research, said: "The sharp drop probably has damaged the reputation of gold and that means we'll see less investment demand and investment demand really pushes up the price of gold.
"One of our top calls have been platinum, since the beginning of the year. It's held up really well this year, only down three to four per cent year to date, considerably less than gold and I still think platinum will outperform, but trading below marginal production costs.
"So that gives you confidence that the downside in prices is floored. So with market in deficit, platinum has a better risk reward profile. You can buy this with ETF or normal standard vehicles. For those who can bear more risks, I would say palladium is a better choice. A market which is more in deficit than platinum but it comes with more volatility."
For now, the outlook on gold remains bearish, as the metal loses its lustre as a safe haven.
- CNA/ac
- wong chee tat :)
Help! My iphone 4 is a Window 7 box!
I was surprised by what this little app from danasoft reported. It showed that I am running on the Windows 7 platform and using Mozilla Firefox as my broswer. But there is a problem. I'm using my iphone 4 and it is running Safari as my web browser!
How does my iphone 4 transform itself into a Windows 7 box?
- wong chee tat :)
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