Monday, August 3, 2015
Alibaba Group plans to invest in Singapore data centre
Alibaba Group plans to invest in Singapore data centre
The deal is part of its US$1 billion investment to drive the growth of Aliyun, its cloud computing arm.
SINGAPORE: Chinese Web giant Alibaba Group on Thursday (Jul 30) announced it will set up data centres in Singapore, as well as Japan, Europe and the Middle East, as part of its US$1 billion investment to drive the growth of its cloud computing arm Aliyun.
In a press release, Alibaba Group CEO Daniel Zhang said Aliyun will serve as an "essential engine" for the company in the new economy which sees the physical and digital arenas becoming increasingly integrated.
"This additional US$1 billion investment is just the beginning. Our hope is for Aliyun to continually empower customers and partners with new capabilities, and help companies upgrade their basic infrastructure," Mr Zhang said. "We want to enable businesses to connect directly with consumers and drive productivity using data."
To do so, it plans to expand its data centre footprint from the five in China and Hong Kong, as well as one in the Silicon Valley in the US.
When asked, Alibaba spokesperson Beckie Wang said in an email that there are no further details on the Singapore data centre currently, such as whether it would be building one from scratch or leasing space from data centre operators here.
Besides data centres, Alibaba Group also has its international Marketplace Alliance Program, a channel programme that offers Aliyun cloud computing services via partners such as Singapore's Singtel.
- CNA/kk
- wong chee tat :)
The deal is part of its US$1 billion investment to drive the growth of Aliyun, its cloud computing arm.
SINGAPORE: Chinese Web giant Alibaba Group on Thursday (Jul 30) announced it will set up data centres in Singapore, as well as Japan, Europe and the Middle East, as part of its US$1 billion investment to drive the growth of its cloud computing arm Aliyun.
In a press release, Alibaba Group CEO Daniel Zhang said Aliyun will serve as an "essential engine" for the company in the new economy which sees the physical and digital arenas becoming increasingly integrated.
"This additional US$1 billion investment is just the beginning. Our hope is for Aliyun to continually empower customers and partners with new capabilities, and help companies upgrade their basic infrastructure," Mr Zhang said. "We want to enable businesses to connect directly with consumers and drive productivity using data."
To do so, it plans to expand its data centre footprint from the five in China and Hong Kong, as well as one in the Silicon Valley in the US.
When asked, Alibaba spokesperson Beckie Wang said in an email that there are no further details on the Singapore data centre currently, such as whether it would be building one from scratch or leasing space from data centre operators here.
Besides data centres, Alibaba Group also has its international Marketplace Alliance Program, a channel programme that offers Aliyun cloud computing services via partners such as Singapore's Singtel.
- CNA/kk
- wong chee tat :)
DBS prices first issue of covered bonds
DBS prices first issue of covered bonds
The covered bonds, DBS’ first issue under a US$10 billion programme, will bear a fixed coupon of 1.625 per cent per annum payable semi-annually in arrear, the bank says.
POSTED: 30 Jul 2015 09:25
SINGAPORE: DBS Bank has priced its issue of US$1 billion (S$1.36 billion) fixed rate covered bonds due 2018, which is the first issue under a US$10 billion global covered bond programme, the bank said on Thursday (Jul 30).
The covered bonds will bear a fixed coupon of 1.625 per cent per annum payable semi-annually in arrear, equal to a spread of 37 basis points over mid-swaps, the bank said.
The issue attracted about US$1.37 billion (S$1.87 billion) of orders from more than 40 investors, with banks anchoring the order book and accounting for 62 per cent of orders. Orders were received from 16 countries, with 51 per cent coming from Asia.
DBS is the first issuer in Singapore to set up a covered bond programme after the local regulator tied up final changes to the rules related to the instrument. It is also the first issuer from South-East Asia to sell covered bonds in the offshore market.
The lender has mandated itself, Deutsche Bank, JP Morgan and Societe Generale as joint global coordinators for the debut covered bonds, with Barclays and Citigroup as bookrunners. The issue is expected to be rated Aaa by Moody's and AAA by Fitch.
DBS Chief Financial Officer Chng Sok Hui said: “We are very pleased with the strong interest received from global investors in our first covered bond issuance, which allowed us to price at tight spreads even under current difficult bond market conditions. With the issue, we have been able to engage a fresh group of investors, and access liquidity with greater cost efficiency, lowering our overall funding cost.”
- CNA/REUTERS/cy
- wong chee tat :)
The covered bonds, DBS’ first issue under a US$10 billion programme, will bear a fixed coupon of 1.625 per cent per annum payable semi-annually in arrear, the bank says.
POSTED: 30 Jul 2015 09:25
SINGAPORE: DBS Bank has priced its issue of US$1 billion (S$1.36 billion) fixed rate covered bonds due 2018, which is the first issue under a US$10 billion global covered bond programme, the bank said on Thursday (Jul 30).
The covered bonds will bear a fixed coupon of 1.625 per cent per annum payable semi-annually in arrear, equal to a spread of 37 basis points over mid-swaps, the bank said.
The issue attracted about US$1.37 billion (S$1.87 billion) of orders from more than 40 investors, with banks anchoring the order book and accounting for 62 per cent of orders. Orders were received from 16 countries, with 51 per cent coming from Asia.
DBS is the first issuer in Singapore to set up a covered bond programme after the local regulator tied up final changes to the rules related to the instrument. It is also the first issuer from South-East Asia to sell covered bonds in the offshore market.
The lender has mandated itself, Deutsche Bank, JP Morgan and Societe Generale as joint global coordinators for the debut covered bonds, with Barclays and Citigroup as bookrunners. The issue is expected to be rated Aaa by Moody's and AAA by Fitch.
DBS Chief Financial Officer Chng Sok Hui said: “We are very pleased with the strong interest received from global investors in our first covered bond issuance, which allowed us to price at tight spreads even under current difficult bond market conditions. With the issue, we have been able to engage a fresh group of investors, and access liquidity with greater cost efficiency, lowering our overall funding cost.”
- CNA/REUTERS/cy
- wong chee tat :)
MediShield Life coverage will start on Nov 1
MediShield Life coverage will start on Nov 1
Over the next year, notifications on an individual's MediShield Life policies and private Integrated Shield Plans will be sent out. The letters will be sent when the individual's policies are up for annual renewal.
By Sara Grosse, Channel NewsAsia
POSTED: 02 Aug 2015 11:40 UPDATED: 02 Aug 2015 23:15
SINGAPORE: MediShield Life coverage will start on Nov 1, and the universal healthcare insurance scheme will kick in for all Singapore residents on or after this date.
Health Minister Gan Kim Yong on Sunday (Aug 2) announced the start date of MediShield Life on the sidelines of the launch of a MediShield Life Welcome Booklet at ITE College West.
For those whose existing MediShield or Integrated Shield Plan policies are not yet due for renewal, they will also start enjoying enhanced MediShield Life benefits from November, but their MediShield Life premiums will only be payable on their next policy renewal date.
Over the next year, notifications on an individual's MediShield Life policies and private Integrated Shield Plans will be sent out. The letters will be sent when the individual's policies are up for annual renewal.
For example, the first batch of premium notifications, which states eligibility of premiums and subsidies, will be sent out in late September. This is for policies being renewed on Nov 1. Similarly, those who pay Integrated Shield Plan premiums will receive their premium notification letters from their private insurers before their policies are due for renewal.
Those who are currently uninsured will receive a letter with details about their new coverage in October, while those with pre-existing medical conditions will also receive a letter by October this year.
These individuals have to pay 30 per cent Additional Premiums.
Prior to the launch of MediShield Life, the CPF Board will conduct checks to identify these individuals who will be subject to Additional Premiums, by tapping on existing medical information in government databases.
For the uninsured who do not wish to have their medical information checked, they may decline access by submitting a form online by Sept 15.
HEALTH MINISTRY REVIEWING LIST OF SERIOUS PRE-EXISTING ILLNESSES
Mr Gan added that the Health Ministry is reviewing the list of serious pre-existing illnesses. Examples of such illnesses include stroke, cancer, Chronic Obstructive Pulmonary Disease, serious kidney failures requiring dialysis and serious heart and liver conditions.
However, the Government added that the list is subject to how severe the conditions are.
"Say for example, if cancer is included, it also depends on how severe the cancer is," said Mr Gan. "If heart disease is one of the diseases that will be considered, it also depends of the severity of the heart disease the person suffers from.
"It is quite an extensive, elaborate way of assessing and therefore it is better for the individual to be informed specifically whether the person is affected by the additional premium, rather than a very broad category.
"We are working out the letters and we will explain to them how they are impacted and we also provide them with a hotline number and how they can obtain more clarification."
Mr Gan said that those who have been identified to have a pre-existing condition can make an appeal. Grounds of appeal include the person saying that their condition has actually improved or the condition is no longer applicable to them as they had it many years ago, he added.
MEDISHIELD LIFE WELCOME BOOKLET OUT IN AUGUST
Come August, all Singapore households will also receive the MediShield Life Welcome Booklet, which will be available in four official languages.
It provides information on what MediShield Life is, its benefits, premiums and subsidies, as well as how Integrated Shield Plans work.
- CNA/av
- wong chee tat :)
Over the next year, notifications on an individual's MediShield Life policies and private Integrated Shield Plans will be sent out. The letters will be sent when the individual's policies are up for annual renewal.
By Sara Grosse, Channel NewsAsia
POSTED: 02 Aug 2015 11:40 UPDATED: 02 Aug 2015 23:15
SINGAPORE: MediShield Life coverage will start on Nov 1, and the universal healthcare insurance scheme will kick in for all Singapore residents on or after this date.
Health Minister Gan Kim Yong on Sunday (Aug 2) announced the start date of MediShield Life on the sidelines of the launch of a MediShield Life Welcome Booklet at ITE College West.
For those whose existing MediShield or Integrated Shield Plan policies are not yet due for renewal, they will also start enjoying enhanced MediShield Life benefits from November, but their MediShield Life premiums will only be payable on their next policy renewal date.
Over the next year, notifications on an individual's MediShield Life policies and private Integrated Shield Plans will be sent out. The letters will be sent when the individual's policies are up for annual renewal.
For example, the first batch of premium notifications, which states eligibility of premiums and subsidies, will be sent out in late September. This is for policies being renewed on Nov 1. Similarly, those who pay Integrated Shield Plan premiums will receive their premium notification letters from their private insurers before their policies are due for renewal.
Those who are currently uninsured will receive a letter with details about their new coverage in October, while those with pre-existing medical conditions will also receive a letter by October this year.
These individuals have to pay 30 per cent Additional Premiums.
Prior to the launch of MediShield Life, the CPF Board will conduct checks to identify these individuals who will be subject to Additional Premiums, by tapping on existing medical information in government databases.
For the uninsured who do not wish to have their medical information checked, they may decline access by submitting a form online by Sept 15.
HEALTH MINISTRY REVIEWING LIST OF SERIOUS PRE-EXISTING ILLNESSES
Mr Gan added that the Health Ministry is reviewing the list of serious pre-existing illnesses. Examples of such illnesses include stroke, cancer, Chronic Obstructive Pulmonary Disease, serious kidney failures requiring dialysis and serious heart and liver conditions.
However, the Government added that the list is subject to how severe the conditions are.
"Say for example, if cancer is included, it also depends on how severe the cancer is," said Mr Gan. "If heart disease is one of the diseases that will be considered, it also depends of the severity of the heart disease the person suffers from.
"It is quite an extensive, elaborate way of assessing and therefore it is better for the individual to be informed specifically whether the person is affected by the additional premium, rather than a very broad category.
"We are working out the letters and we will explain to them how they are impacted and we also provide them with a hotline number and how they can obtain more clarification."
Mr Gan said that those who have been identified to have a pre-existing condition can make an appeal. Grounds of appeal include the person saying that their condition has actually improved or the condition is no longer applicable to them as they had it many years ago, he added.
MEDISHIELD LIFE WELCOME BOOKLET OUT IN AUGUST
Come August, all Singapore households will also receive the MediShield Life Welcome Booklet, which will be available in four official languages.
It provides information on what MediShield Life is, its benefits, premiums and subsidies, as well as how Integrated Shield Plans work.
- CNA/av
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
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