Singapore raises 2013 GDP growth forecast on manufacturing
Thursday, 21 November 2013
Thursday, 21 November 2013
© 2013 - The Edge Singapore
- wong chee tat :)
Friday, November 22, 2013
Singapore ups 2013 GDP outlook to 3.5-4.0% as Q3 tops forecasts
Singapore ups 2013 GDP outlook to 3.5-4.0% as Q3 tops forecasts
Thursday, 21 November 2013
Thursday, 21 November 2013
© 2013 - The Edge Singapore
- wong chee tat :)
Scheduled Maintenance - POSB
Scheduled Maintenance - POSB
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| iBanking | 24 Nov 2013 | 0000hrs to 0600hrs | System Maintenance | |
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MTI raises S'pore 2013 growth forecast to 3.5%-4%
MTI raises S'pore 2013 growth forecast to 3.5%-4%
By Linette Lim
POSTED: 21 Nov 2013 08:03
UPDATED: 22 Nov 2013 00:22
Singapore has upgraded its economic growth forecast for the year, boosted by growth in the services and manufacturing sectors. The economy is now expected to grow between 3.5 and 4 per cent, up from an earlier forecast of 2.5 to 3.5 per cent.
SINGAPORE: Singapore has upgraded its economic growth forecast for the year, boosted by growth in the services and manufacturing sectors.
The economy is now expected to grow between 3.5 and 4 per cent, up from an earlier forecast of 2.5 to 3.5 per cent.
Singapore's economic growth picked up pace between July and September.
Third quarter Gross Domestic Product (GDP) rose 5.8 per cent on-year. This is compared to the 4.4 per cent growth in the previous quarter, and higher than advance estimates of a 5.1 per cent growth.
The Ministry of Trade and Industry (MTI) said it expects the economy to maintain a similar pace of growth in the fourth quarter.
Ow Foong Pheng, Permanent Secretary at MTI, said: "Externally-oriented sectors such as manufacturing, transportation and storage are likely to provide support to growth, in line with the gradual pick-up in the global economy.
“Domestically-oriented sectors such as business services are also expected to remain resilient. However, tightness in labour market conditions may weigh on growth in some labour-intensive sectors."
Third quarter GDP growth was broad-based.
Manufacturing grew 5.5 per cent on-year, driven by electronics and transport engineering.
The construction sector expanded 5.3 per cent, while wholesale and retail trade grew 7.9 per cent, boosted by stronger trade flows.
The financial services sector saw growth ease to 10.5 per cent from 13.7 per cent in the previous quarter, while accommodation and food services grew 3 per cent.
The better-than-expected performance prompted an upgrade of Singapore's 2013 growth forecast.
For 2014, the economy is projected to grow by 2 to 4 per cent. But economists say with improving growth, comes higher inflation.
Irvin Seah, senior economist at DBS Bank, said: "COE premiums have already shot back up to pre-tightening levels.
“We expect inflation to cross the 3 per cent in December of this year, or maybe in early next year. And by April next year, there's a good chance that inflation may even challenge the 4 per cent level."
There are also external risks to consider.
Despite the upward revision of full-year GDP growth, MTI said the growth outlook for the Singapore economy remains modest.
This is partly due to ongoing reforms in China, and fiscal consolidation in some ASEAN economies like Indonesia and Malaysia.
- CNA/fa/nd
- wong chee tat :)
By Linette Lim
POSTED: 21 Nov 2013 08:03
UPDATED: 22 Nov 2013 00:22
Singapore has upgraded its economic growth forecast for the year, boosted by growth in the services and manufacturing sectors. The economy is now expected to grow between 3.5 and 4 per cent, up from an earlier forecast of 2.5 to 3.5 per cent.
SINGAPORE: Singapore has upgraded its economic growth forecast for the year, boosted by growth in the services and manufacturing sectors.
The economy is now expected to grow between 3.5 and 4 per cent, up from an earlier forecast of 2.5 to 3.5 per cent.
Singapore's economic growth picked up pace between July and September.
Third quarter Gross Domestic Product (GDP) rose 5.8 per cent on-year. This is compared to the 4.4 per cent growth in the previous quarter, and higher than advance estimates of a 5.1 per cent growth.
The Ministry of Trade and Industry (MTI) said it expects the economy to maintain a similar pace of growth in the fourth quarter.
Ow Foong Pheng, Permanent Secretary at MTI, said: "Externally-oriented sectors such as manufacturing, transportation and storage are likely to provide support to growth, in line with the gradual pick-up in the global economy.
“Domestically-oriented sectors such as business services are also expected to remain resilient. However, tightness in labour market conditions may weigh on growth in some labour-intensive sectors."
Third quarter GDP growth was broad-based.
Manufacturing grew 5.5 per cent on-year, driven by electronics and transport engineering.
The construction sector expanded 5.3 per cent, while wholesale and retail trade grew 7.9 per cent, boosted by stronger trade flows.
The financial services sector saw growth ease to 10.5 per cent from 13.7 per cent in the previous quarter, while accommodation and food services grew 3 per cent.
The better-than-expected performance prompted an upgrade of Singapore's 2013 growth forecast.
For 2014, the economy is projected to grow by 2 to 4 per cent. But economists say with improving growth, comes higher inflation.
Irvin Seah, senior economist at DBS Bank, said: "COE premiums have already shot back up to pre-tightening levels.
“We expect inflation to cross the 3 per cent in December of this year, or maybe in early next year. And by April next year, there's a good chance that inflation may even challenge the 4 per cent level."
There are also external risks to consider.
Despite the upward revision of full-year GDP growth, MTI said the growth outlook for the Singapore economy remains modest.
This is partly due to ongoing reforms in China, and fiscal consolidation in some ASEAN economies like Indonesia and Malaysia.
- CNA/fa/nd
- wong chee tat :)
East Coast Rd hotel site up for sale by public tender
East Coast Rd hotel site up for sale by public tender
The Urban Redevelopment Authority (URA) has launched a hotel site at East Coast Road for sale by public tender.
SINGAPORE: The Urban Redevelopment Authority (URA) has launched a hotel site at East Coast Road for sale by public tender.
The site, which is on the government's reserve list, was triggered for sale on November 6 after a developer had committed to bid at a price of not less than S$160 million for the site.
Under the Reserve List system, a site will only be put up for tender if the developer's minimum bid price is acceptable to the government.
With a gross floor area of about 24,716 square metres, the land parcel is located at the junction of East Coast Road and Joo Chiat Road.
The 99-year leasehold plot also contains the former Joo Chiat Police Station, which shall be restored as part of the future hotel development.
Nicholas Mak, executive director of SLP International Property Consultants, said the site is near Paya Lebar, which is expected to be developed into a commercial hub under the the new Draft Master Plan 2013. This could drive demand for hotel rooms in the area.
But developers will have to retain and restore the two-storey former Joo Chiat Police Station and the gross floor area of that conserved building has to be included as part of the maximum permissible gross floor area.
The government has also stipulated that up to 40 per cent of the maximum permissible gross floor area will be allowed for commercial use such as office and retail space.
Another challenge facing the developer of this hotel is that as the hotel could yield 600 rooms, it would have to provide sufficient parking space.
SLP International expects the site to draw five to 10 bids, which could range from S$250 million to S$266 million.
- CNA/xq/ms
- wong chee tat :)
The Urban Redevelopment Authority (URA) has launched a hotel site at East Coast Road for sale by public tender.
SINGAPORE: The Urban Redevelopment Authority (URA) has launched a hotel site at East Coast Road for sale by public tender.
The site, which is on the government's reserve list, was triggered for sale on November 6 after a developer had committed to bid at a price of not less than S$160 million for the site.
Under the Reserve List system, a site will only be put up for tender if the developer's minimum bid price is acceptable to the government.
With a gross floor area of about 24,716 square metres, the land parcel is located at the junction of East Coast Road and Joo Chiat Road.
The 99-year leasehold plot also contains the former Joo Chiat Police Station, which shall be restored as part of the future hotel development.
Nicholas Mak, executive director of SLP International Property Consultants, said the site is near Paya Lebar, which is expected to be developed into a commercial hub under the the new Draft Master Plan 2013. This could drive demand for hotel rooms in the area.
But developers will have to retain and restore the two-storey former Joo Chiat Police Station and the gross floor area of that conserved building has to be included as part of the maximum permissible gross floor area.
The government has also stipulated that up to 40 per cent of the maximum permissible gross floor area will be allowed for commercial use such as office and retail space.
Another challenge facing the developer of this hotel is that as the hotel could yield 600 rooms, it would have to provide sufficient parking space.
SLP International expects the site to draw five to 10 bids, which could range from S$250 million to S$266 million.
- CNA/xq/ms
- wong chee tat :)
97.5% of students pass PSLE
97.5% of students pass PSLE
By John Leong
POSTED: 22 Nov 2013 15:07
UPDATED: 22 Nov 2013 20:18
97.5 per cent of students who sat for the PSLE this year will be moving on to secondary school, marginally lower than last year's 97.6 per cent. This year is the first time MOE is not announcing the highest and lowest scores across the Primary Six cohort.
SINGAPORE: Students across Singapore received their PSLE results on Friday, and 97.5 per cent of those who sat for the PSLE this year will move on to secondary school.
That is marginally lower than last year’s 97.6 per cent.
The Ministry of Education (MOE) said a total of 43,047 Primary 6 students sat for the PSLE in 2013. Of this number, 41,974 students passed.
In this year's cohort, 66.7 per cent are eligible for the Express stream, 19.9 per cent for the Normal (Academic) and 10.9 per cent for Normal (Technical) courses.
This year is the first time the MOE is not announcing the highest and lowest scores across the Primary Six cohort. That is because it wants the focus to be on the students' holistic development.
One student who received her results on Friday is Low Sieu Xin, who had never had tuition lessons until this year.
In September last year, the Bedok Green Primary School student picked up an eye condition which makes her see colours darker than they really are.
Her studies suffered as a result, and that is why her parents signed her up for a PSLE Preparatory Course.
Her excitement on results day is obvious. And her mother has been doing her best to calm her down.
Sieu Xin, who is also the school’s head prefect, said: "I think she (my mother) knows that I'm really nervous and excited, so I think she didn't want me to dwell on things anymore, so she left me alone to do what I want to do."
Low Gek Eng, Sieu Xin's mother, said: "All along she's quite ok, her standard is all right, up to what she wants, so normally I don't really press her."
And Sieu Xin is satisfied with her scores, like many of her friends.
Meanwhile, Sieu Xin's form teacher, Mrs Hsu Seow Yun is changing schools next year.
And the student wants to pay tribute to her mentor, who helped her cope despite her eye condition.
Mrs Hsu said: "The moment I realised that one of her eyes had hindered vision, I immediately shifted her to a position to enable her to see properly in the class."
Mazel Tan, a Primary Six student in Bedok Green Primary School, said: "Sometimes, because of her (Sieu Xin’s) eyesight, she cannot see the words on the board, so I'll lend her my notes to copy."
The Low family will not be celebrating straight away, due to other commitments. But Sieu Xin is looking forward to the coming days.
When asked what she looks forward to the most, Sieu Xin said: “The outings with my friends. I think it's going to be very fun, because everybody is mainly relaxed already after the results."
Sieu Xin has already been offered a place in Temasek Junior College's Integrated Programme, thanks to her preliminary results.
This means she will skip the GCE O-Level exams and go straight to the A-Levels after six years.
Students who are eligible to progress to secondary school can select their school and submit their forms by 3pm on November 28.
The Secondary One posting results will be released on December 20.
- CNA/xq/nd
- wong chee tat :)
By John Leong
POSTED: 22 Nov 2013 15:07
UPDATED: 22 Nov 2013 20:18
97.5 per cent of students who sat for the PSLE this year will be moving on to secondary school, marginally lower than last year's 97.6 per cent. This year is the first time MOE is not announcing the highest and lowest scores across the Primary Six cohort.
SINGAPORE: Students across Singapore received their PSLE results on Friday, and 97.5 per cent of those who sat for the PSLE this year will move on to secondary school.
That is marginally lower than last year’s 97.6 per cent.
The Ministry of Education (MOE) said a total of 43,047 Primary 6 students sat for the PSLE in 2013. Of this number, 41,974 students passed.
In this year's cohort, 66.7 per cent are eligible for the Express stream, 19.9 per cent for the Normal (Academic) and 10.9 per cent for Normal (Technical) courses.
This year is the first time the MOE is not announcing the highest and lowest scores across the Primary Six cohort. That is because it wants the focus to be on the students' holistic development.
One student who received her results on Friday is Low Sieu Xin, who had never had tuition lessons until this year.
In September last year, the Bedok Green Primary School student picked up an eye condition which makes her see colours darker than they really are.
Her studies suffered as a result, and that is why her parents signed her up for a PSLE Preparatory Course.
Her excitement on results day is obvious. And her mother has been doing her best to calm her down.
Sieu Xin, who is also the school’s head prefect, said: "I think she (my mother) knows that I'm really nervous and excited, so I think she didn't want me to dwell on things anymore, so she left me alone to do what I want to do."
Low Gek Eng, Sieu Xin's mother, said: "All along she's quite ok, her standard is all right, up to what she wants, so normally I don't really press her."
And Sieu Xin is satisfied with her scores, like many of her friends.
Meanwhile, Sieu Xin's form teacher, Mrs Hsu Seow Yun is changing schools next year.
And the student wants to pay tribute to her mentor, who helped her cope despite her eye condition.
Mrs Hsu said: "The moment I realised that one of her eyes had hindered vision, I immediately shifted her to a position to enable her to see properly in the class."
Mazel Tan, a Primary Six student in Bedok Green Primary School, said: "Sometimes, because of her (Sieu Xin’s) eyesight, she cannot see the words on the board, so I'll lend her my notes to copy."
The Low family will not be celebrating straight away, due to other commitments. But Sieu Xin is looking forward to the coming days.
When asked what she looks forward to the most, Sieu Xin said: “The outings with my friends. I think it's going to be very fun, because everybody is mainly relaxed already after the results."
Sieu Xin has already been offered a place in Temasek Junior College's Integrated Programme, thanks to her preliminary results.
This means she will skip the GCE O-Level exams and go straight to the A-Levels after six years.
Students who are eligible to progress to secondary school can select their school and submit their forms by 3pm on November 28.
The Secondary One posting results will be released on December 20.
- CNA/xq/nd
- wong chee tat :)
PSLE questions crafted in way that lets students show what they've learnt
PSLE questions crafted in way that lets students show what they've learnt
POSTED: 22 Nov 2013 18:13
The more challenging questions in this year's PSLE were crafted in a way that lets students show what they have learnt while keeping the standard high, said Education Minister Heng Swee Keat.
SINGAPORE: This year's Primary Six Leaving Examinations (PSLE) had one small refinement.
The more challenging questions were crafted in a way that lets students show what they have learnt while keeping the standard high.
Education Minister Heng Swee Keat said the questions were structured to guide the student's thinking and give points for each of the steps he goes through, and not just for the final answer.
Writing in a Facebook post on Friday, Mr Heng added that the PSLE results also showed that the many programmes put in place by the ministry and schools to level up all students made a difference to many.
He said bringing everyone's focus back from chasing points to really learning is exactly what the ministry wants.
And the students themselves showed a lot of motivation to do well.
All this, he added, showed the ministry is on the right path and will continue on this path.
Mr Heng stressed that the PSLE questions are still of a high standard but the student finds them more accessible, and as he goes through the opening steps well, the student gains confidence to continue.
And even if the student does not get the right final answer, if he gets the first few parts right, the student has shown that he understands his material and gets the points for it.
Mr Heng shared the observation of exam invigilators who saw the Primary 6 students working on the questions right up to the last minute rather than give up on some.
And teachers said their students felt the papers gave them a chance to do well, and they felt confident about their learning.
Mr Heng said putting the focus on learning rather than chasing points is what the ministry wants.
He hopes parents agree that this is the right way to help children learn.
He noted that many more students did well this year, and parents should be very proud of them.
Mr Heng said he would share his thoughts on choosing a secondary school soon.
- CNA/ir
- wong chee tat :)
POSTED: 22 Nov 2013 18:13
The more challenging questions in this year's PSLE were crafted in a way that lets students show what they have learnt while keeping the standard high, said Education Minister Heng Swee Keat.
SINGAPORE: This year's Primary Six Leaving Examinations (PSLE) had one small refinement.
The more challenging questions were crafted in a way that lets students show what they have learnt while keeping the standard high.
Education Minister Heng Swee Keat said the questions were structured to guide the student's thinking and give points for each of the steps he goes through, and not just for the final answer.
Writing in a Facebook post on Friday, Mr Heng added that the PSLE results also showed that the many programmes put in place by the ministry and schools to level up all students made a difference to many.
He said bringing everyone's focus back from chasing points to really learning is exactly what the ministry wants.
And the students themselves showed a lot of motivation to do well.
All this, he added, showed the ministry is on the right path and will continue on this path.
Mr Heng stressed that the PSLE questions are still of a high standard but the student finds them more accessible, and as he goes through the opening steps well, the student gains confidence to continue.
And even if the student does not get the right final answer, if he gets the first few parts right, the student has shown that he understands his material and gets the points for it.
Mr Heng shared the observation of exam invigilators who saw the Primary 6 students working on the questions right up to the last minute rather than give up on some.
And teachers said their students felt the papers gave them a chance to do well, and they felt confident about their learning.
Mr Heng said putting the focus on learning rather than chasing points is what the ministry wants.
He hopes parents agree that this is the right way to help children learn.
He noted that many more students did well this year, and parents should be very proud of them.
Mr Heng said he would share his thoughts on choosing a secondary school soon.
- CNA/ir
- wong chee tat :)
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