Semiconductor firms urged to work with public research institutes
It is hoped that with a more systematic approach to determine research areas in semiconductors, Singapore will be able to tap new advances in technology.
POSTED: 13 Oct 2015 23:16
SINGAPORE: Semiconductor firms should work more closely with public research institutes, so as to strengthen Singapore as a hub for semiconductor manufacturing - this was one of the recommendations contained in a White Paper by the Singapore Semiconductor Vision 2020 Task Force.
Other recommendations included enhancing labour productivity and improving the talent pipeline. The task force comprises representatives from organisations including A*STAR, Applied Materials SEA, GLOBALFOUNDRIES Singapore, the Institute of Microelectronics, Lantiq Asia Pacific, Micron, Singapore Economic Development Board, SSMC and STATS ChipPAC.
The task force hopes that by adopting a more systematic approach to determine research areas in semiconductors, it will help Singapore tap new advances in technology as well as trends such as the Internet of Things.
Said Mr Russell Tham, regional president for Applied Materials and chairman of the Singapore Semiconductor Vision 2020 Task Force: "Singapore's ability to collaborate between the public and private sector is certainly a unique strength.
“I can tell from our experiences, the collaborations that we had create a unique competitive advantage for the company - by leveraging A*STAR's research institutes, by leveraging the ability to construct models that are complementary to Singapore's interests.”
The semiconductor industry employs over 40,000 people in Singapore and has annual output of around S$50 billion.
- CNA/xq
- wong chee tat :)
Showing posts with label industry. Show all posts
Showing posts with label industry. Show all posts
Wednesday, October 14, 2015
Thursday, October 30, 2014
Lower bonus expectation in finance industry: Survey
Lower bonus expectation in finance industry: Survey
TODAY reports: Of the 696 professionals polled, only 42 per cent are looking forward to an increment to their bonuses, down from last year’s 50 per cent.
SINGAPORE: Fewer professionals in the financial industry here are expecting a bigger annual bonus this year, a survey has found, with the sector’s performance seeing some pullback in recent times amid market and geopolitical uncertainties.
Of the 696 professionals polled by eFinancialCareers in Singapore between September and October, only 42 per cent are looking forward to an increment to their bonuses, down from last year’s 50 per cent.
The survey results come at a time when the finance and insurance sector reported a 5.5 per cent on-year growth in the second quarter of this year, down from the first quarter’s 5.7 per cent and last year’s 10.5 per cent in the fourth quarter, the latest data by the Monetary Authority of Singapore (MAS) shows.
But Mr George McFerran, eFinancialCareers’ director for sales and marketing, said: “Results from the survey are not a reflection of the health of the financial services industry, but indicate that professionals have more realistic expectations when it comes to bonus payout. We’ve often seen a mismatch in the past.”
LONG TERM CAREER PROSPECTS
The Government is, however, cautious about Singaporeans’ long term career prospects in the financial sector, which has halved its hiring since 2012, from about 10,000 new jobs annually in 2010 and 2011. New technologies have further transformed banking operations, Deputy Prime Minister Tharman Shanmugaratnam had said in June during the anniversary dinner of the Institute of Banking and Finance Singapore.
Reflecting this trend, the latest MAS data also reveals slowing employment in the sector this year, from 2,400 new jobs in the first quarter to second quarter’s 1,300 new jobs.
“There is a driving force that is transforming activity across all financial markets and that is technological change,” Mr Tharman had said in June. “Our financial sector has significant opportunities ahead of it… but growth will demand deeper skills and expertise, rather than a large expansion of jobs.”
Against this backdrop, the Government is setting aside about S$60 million this year for training programmes, in a bid to enhance Singaporeans’ banking expertise for an increasingly sophisticated and challenging industry.
-TODAY/cy
- wong chee tat :)
TODAY reports: Of the 696 professionals polled, only 42 per cent are looking forward to an increment to their bonuses, down from last year’s 50 per cent.
SINGAPORE: Fewer professionals in the financial industry here are expecting a bigger annual bonus this year, a survey has found, with the sector’s performance seeing some pullback in recent times amid market and geopolitical uncertainties.
Of the 696 professionals polled by eFinancialCareers in Singapore between September and October, only 42 per cent are looking forward to an increment to their bonuses, down from last year’s 50 per cent.
The survey results come at a time when the finance and insurance sector reported a 5.5 per cent on-year growth in the second quarter of this year, down from the first quarter’s 5.7 per cent and last year’s 10.5 per cent in the fourth quarter, the latest data by the Monetary Authority of Singapore (MAS) shows.
But Mr George McFerran, eFinancialCareers’ director for sales and marketing, said: “Results from the survey are not a reflection of the health of the financial services industry, but indicate that professionals have more realistic expectations when it comes to bonus payout. We’ve often seen a mismatch in the past.”
LONG TERM CAREER PROSPECTS
The Government is, however, cautious about Singaporeans’ long term career prospects in the financial sector, which has halved its hiring since 2012, from about 10,000 new jobs annually in 2010 and 2011. New technologies have further transformed banking operations, Deputy Prime Minister Tharman Shanmugaratnam had said in June during the anniversary dinner of the Institute of Banking and Finance Singapore.
Reflecting this trend, the latest MAS data also reveals slowing employment in the sector this year, from 2,400 new jobs in the first quarter to second quarter’s 1,300 new jobs.
“There is a driving force that is transforming activity across all financial markets and that is technological change,” Mr Tharman had said in June. “Our financial sector has significant opportunities ahead of it… but growth will demand deeper skills and expertise, rather than a large expansion of jobs.”
Against this backdrop, the Government is setting aside about S$60 million this year for training programmes, in a bid to enhance Singaporeans’ banking expertise for an increasingly sophisticated and challenging industry.
-TODAY/cy
- 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 :)
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 :)
Sunday, March 17, 2013
Private home sales fall to 708 units in Feb
Published March 15, 2013
Private home sales fall to 708 units in Feb
By Ong Chor Hao
Private home sales by developers fell to 708 units in February from the 2,013 units the month before, the latest data from the Urban Redevelopment Authority (URA) showed.
The figures for the take-up of private residential unit released on Friday does not include transactions for the hybrid housing type of executive condominiums (ECs).
A significant number of the 708 units transacted in February were from the Outside Central Region (OCR), which made up 48 per cent of sales.
Homes from the Core Central Region (CCR) accounted for 28 per cent of sales, while the remaining 24 per cent of units sold were from the Rest of Central Region (RCR).
- wong chee tat :)
Private home sales fall to 708 units in Feb
By Ong Chor Hao
Private home sales by developers fell to 708 units in February from the 2,013 units the month before, the latest data from the Urban Redevelopment Authority (URA) showed.
The figures for the take-up of private residential unit released on Friday does not include transactions for the hybrid housing type of executive condominiums (ECs).
A significant number of the 708 units transacted in February were from the Outside Central Region (OCR), which made up 48 per cent of sales.
Homes from the Core Central Region (CCR) accounted for 28 per cent of sales, while the remaining 24 per cent of units sold were from the Rest of Central Region (RCR).
- wong chee tat :)
Friday, March 8, 2013
S'pore govt unveils plans to boost infocomm and media industry
- (Photo by Sean Gallup/Getty Images) - Consumers can expect faster Wi-Fi access from Wireless@SG from April onwards.
Faster free public Wi-Fi network access islandwide.
Digital free-to-air television channels by the end of the year.
Over S$182 million in budget more for locally-produced programmes on culture and heritage.
These were among the wide-ranging plans to boost the info comm and media infrastructure announced by Minister for Communications and Information (MCI) Yaacob Ibrahim in Parliament on Friday.
Wi-Fi speeds on Wireless@SG will be bumped on from 1Mbps to a maximum 2Mbps from next month.
"IDA will enhance our national wireless infrastructure by expanding the capacity and speed of Wireless@SG," said the Minister during the debate on the recently unveiled Budget.
Aside from faster speeds, the login process
for Wireless@SG will also be simplified from next April with users only
needing to log-in once instead of repeated sign-ins currently. This will
be possible because Digital free-to-air television channels by the end of the year.
Over S$182 million in budget more for locally-produced programmes on culture and heritage.
These were among the wide-ranging plans to boost the info comm and media infrastructure announced by Minister for Communications and Information (MCI) Yaacob Ibrahim in Parliament on Friday.
Wi-Fi speeds on Wireless@SG will be bumped on from 1Mbps to a maximum 2Mbps from next month.
"IDA will enhance our national wireless infrastructure by expanding the capacity and speed of Wireless@SG," said the Minister during the debate on the recently unveiled Budget.
"This will complement our mobile networks and allow subscribers to more seamlessly shift from 3G/4G networks to Wireless@SG," said Dr Yaacob.
Turning to the media industry, free-to-air channels 5, 8, Suria and Vasantham will begin broadcasting in hi-definition by the end of the year. Other channels like Octo would do so only in 2016.
By April, consumer labels to identify digital TV sets will be available on televisions and separate set-top boxes.
The Media Development Authority (MDA) will ensure low income and the elderly will also benefit from this.
Dr Yaacob also said the MCI is still reviewing their media convergence plan and are looking at these areas: content regulation, encouraging local content, copyrights and licensing framework.
Regarding local content, Dr Yaacob said it would devote another S$182 million to increase the quality and quantity of public service broadcast (PSB) programmes over the next four years to focus on local heritage and culture.
This amount is on top of a S$630 million budget that had been earmarked for public service programmes earlier in July 2012, spread across five years till 2016.
- wong chee tat :)
Sunday, March 3, 2013
Banks moving towards mobile banking
Banks moving towards mobile banking
By Mike Firn | Posted: 01 March 2013 2243 hrs
SINGAPORE: Bankers and software designers are meeting in Singapore to discuss how to take advantage of smartphones and tablets to expand their business.
Banks are shifting investment, from brick and mortar branches packed with staff to slick IT solutions.
Singapore software company Tagit is tailoring solutions differently for emerging markets like Indonesia and the Philippines, and banks with established networks in developed countries like Japan and Australia.
Sandeep Bagaria, CEO of Tagit, explained: "If you think of emerging markets, the innovation is coming around 'how do I reach a large mass of people using the mobile application and then necessarily providing new innovative services?' In developed markets, it's 'how can I provide them with more facilities, more services than I would do before?'"
But analysts say the rise of internet and mobile banking does not mean high-street bank branches are going to disappear. They say it may even get better.
Ho Sui-Jon, IDC associate market analyst, said: "If I go to a branch I would expect to get an experience that I cannot get from an ATM or browser-based banking. So all these branches are being re-tailored towards what we call 'flagship branch models', where we are trying to augment experience-driven technology augmented features."
For customers used to sitting down with their local bank manager, the idea of putting an app on their mobile may not seem appealing.
Mr Bagaria assured consumers who fear losing their phones: "It's not that the mobile app gets activated just because the phone is there. I need to put in a token when I need to do a transaction so the security levels are similar. It doesn't matter that you've left your phone behind."
With research group IDC forecasting that users in Asia will own half the world's smartphones within three years, mobile banking is likely to be a core strategy of the region's lenders.
- CNA/xq
- wong chee tat :)
By Mike Firn | Posted: 01 March 2013 2243 hrs
SINGAPORE: Bankers and software designers are meeting in Singapore to discuss how to take advantage of smartphones and tablets to expand their business.
Banks are shifting investment, from brick and mortar branches packed with staff to slick IT solutions.
Singapore software company Tagit is tailoring solutions differently for emerging markets like Indonesia and the Philippines, and banks with established networks in developed countries like Japan and Australia.
Sandeep Bagaria, CEO of Tagit, explained: "If you think of emerging markets, the innovation is coming around 'how do I reach a large mass of people using the mobile application and then necessarily providing new innovative services?' In developed markets, it's 'how can I provide them with more facilities, more services than I would do before?'"
But analysts say the rise of internet and mobile banking does not mean high-street bank branches are going to disappear. They say it may even get better.
Ho Sui-Jon, IDC associate market analyst, said: "If I go to a branch I would expect to get an experience that I cannot get from an ATM or browser-based banking. So all these branches are being re-tailored towards what we call 'flagship branch models', where we are trying to augment experience-driven technology augmented features."
For customers used to sitting down with their local bank manager, the idea of putting an app on their mobile may not seem appealing.
Mr Bagaria assured consumers who fear losing their phones: "It's not that the mobile app gets activated just because the phone is there. I need to put in a token when I need to do a transaction so the security levels are similar. It doesn't matter that you've left your phone behind."
With research group IDC forecasting that users in Asia will own half the world's smartphones within three years, mobile banking is likely to be a core strategy of the region's lenders.
- CNA/xq
- wong chee tat :)
Property prices yet to reach acceptable level: Tharman
Property prices yet to reach acceptable level: Tharman
By Lynda Hong | Posted: 01 March 2013 2332 hrs
SINGAPORE: Singapore property prices still have "some ways to go" before reaching an acceptable level, according to Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam.
Speaking in a Bloomberg Television interview, Mr Tharman said Singapore's property is now in a wrong part of the cycle, and prices would become acceptable through a combination of income improvement and prices not going up further.
"Some correction in prices will not be out of order," he added.
With property prices at record highs, Singapore has imposed steps to cool the housing market since 2009. New stamp duties implemented in the latest round rose by much as 7 percentage points from January.
Mr Tharman is "pretty confident" that the government will get a handle on the situation, saying "we can prevent a real bubble from being formed which then eventually crashes, and that's our objective".
Singapore has allowed its currency to appreciate faster even as the economy expanded the least in three years.
The search for higher-yielding assets amid monetary easing in developed economies has fuelled record property prices in Singapore, sparking inflationary pressures and social tensions.
But Mr Tharman noted that monetary stimulus, like that of the US and Japan, is not needed in Singapore because of its full employment.
"We don't have an output gap, and evidence of that is in an extremely tight labour market," he said.
Singapore's jobless rate fell to a five-year low of 1.8 percent last quarter as companies hired more local workers after the government tightened the inflow of foreign labour.
- CNA/al
- wong chee tat :)
By Lynda Hong | Posted: 01 March 2013 2332 hrs
SINGAPORE: Singapore property prices still have "some ways to go" before reaching an acceptable level, according to Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam.
Speaking in a Bloomberg Television interview, Mr Tharman said Singapore's property is now in a wrong part of the cycle, and prices would become acceptable through a combination of income improvement and prices not going up further.
"Some correction in prices will not be out of order," he added.
With property prices at record highs, Singapore has imposed steps to cool the housing market since 2009. New stamp duties implemented in the latest round rose by much as 7 percentage points from January.
Mr Tharman is "pretty confident" that the government will get a handle on the situation, saying "we can prevent a real bubble from being formed which then eventually crashes, and that's our objective".
Singapore has allowed its currency to appreciate faster even as the economy expanded the least in three years.
The search for higher-yielding assets amid monetary easing in developed economies has fuelled record property prices in Singapore, sparking inflationary pressures and social tensions.
But Mr Tharman noted that monetary stimulus, like that of the US and Japan, is not needed in Singapore because of its full employment.
"We don't have an output gap, and evidence of that is in an extremely tight labour market," he said.
Singapore's jobless rate fell to a five-year low of 1.8 percent last quarter as companies hired more local workers after the government tightened the inflow of foreign labour.
- CNA/al
- wong chee tat :)
Tuesday, November 6, 2012
Singapore's F&B service sector reaches out to job seekers
Singapore's F&B service sector reaches out to job seekers
By Dylan Loh | Posted: 05 November 2012 1412 hrs
SINGAPORE: Singapore's food and beverage service sector hopes to get more Singaporeans to join the industry and make up the core of new hires to fill positions ranging from rank-and-file to managerial.
The Food & Beverage Managers' Association, with the support of Workforce Development Agency (WDA), held its first career clinic on Monday at VivoCity shopping mall.
The one-day clinic aimed to provide job seekers with insights into career and training opportunities within the sector.
The clinic had 10 participating organisations, ranging from hotels to restaurants.
Career opportunities available in the industry include positions such as chefs, bartenders and servers.
Outreach efforts like this "career clinic" are organised to let the public understand the opportunities available in the industry, and entice more to join up.
About three out of 10 positions in food-and-beverage outlets here are waiting to be filled.
There are some 6,000 food and beverage establishments in Singapore. The boom in the sector is expected to continue its momentum in the coming years, which means more job openings in future.
Minister of State for Manpower and Health, Dr Amy Khor, said: "We need to continue to publicise and let Singaporeans know that there are good quality jobs in the industry with good training opportunities and career pathways and prospects. Even if they start at the bottom at the shop floor for instance, they can progress upwards and that there are many opportunities."
Back-to-work women and older workers are among those the government hopes can supplement the sector's manpower needs.
The government is encouraging firms in the industry to implement more flexible and part-time work arrangements so more can be attracted to join.
Subsidies and assistance schemes are also in place to help companies improve productivity through process and job redesigns so firms can reduce their manpower requirements.
In addition, WDA will continue to support the sector with skills upgrading programmes to increase the number of higher skilled workers.
Such programmes have allowed some to make a career switch and join the food-and-beverage industry.
Anil Kumar's passion for food was enough to convince him to cross over from the mechanical industry.
The 41-year-old earned a pastry and bakery diploma under the Workforce Skills Qualifications programme.
Starting as an intern in 2008, Anil has worked at a few places before becoming a service captain at the restaurant where he now works.
"I got bored with the job that I was doing before because it was pretty much a work that doesn't bring me anywhere. And the fact that I love food, that was the reason why I crossed over from mechanic to the food and beverage industry," he said.
Cheong Hai Poh, who is president of Food and Beverage Managers' Association of Singapore, said there are opportunities in the industry to help workers fast-track their careers.
Mr Cheong said: "You can be fast-tracked if you are performing well. You can move from a waiter to a captain within one to two years, and from a captain to assistant manager. It depends on your own performance, knowledge and skill."
- CNA/xq/fa
- wong chee tat :)
By Dylan Loh | Posted: 05 November 2012 1412 hrs
SINGAPORE: Singapore's food and beverage service sector hopes to get more Singaporeans to join the industry and make up the core of new hires to fill positions ranging from rank-and-file to managerial.
The Food & Beverage Managers' Association, with the support of Workforce Development Agency (WDA), held its first career clinic on Monday at VivoCity shopping mall.
The one-day clinic aimed to provide job seekers with insights into career and training opportunities within the sector.
The clinic had 10 participating organisations, ranging from hotels to restaurants.
Career opportunities available in the industry include positions such as chefs, bartenders and servers.
Outreach efforts like this "career clinic" are organised to let the public understand the opportunities available in the industry, and entice more to join up.
About three out of 10 positions in food-and-beverage outlets here are waiting to be filled.
There are some 6,000 food and beverage establishments in Singapore. The boom in the sector is expected to continue its momentum in the coming years, which means more job openings in future.
Minister of State for Manpower and Health, Dr Amy Khor, said: "We need to continue to publicise and let Singaporeans know that there are good quality jobs in the industry with good training opportunities and career pathways and prospects. Even if they start at the bottom at the shop floor for instance, they can progress upwards and that there are many opportunities."
Back-to-work women and older workers are among those the government hopes can supplement the sector's manpower needs.
The government is encouraging firms in the industry to implement more flexible and part-time work arrangements so more can be attracted to join.
Subsidies and assistance schemes are also in place to help companies improve productivity through process and job redesigns so firms can reduce their manpower requirements.
In addition, WDA will continue to support the sector with skills upgrading programmes to increase the number of higher skilled workers.
Such programmes have allowed some to make a career switch and join the food-and-beverage industry.
Anil Kumar's passion for food was enough to convince him to cross over from the mechanical industry.
The 41-year-old earned a pastry and bakery diploma under the Workforce Skills Qualifications programme.
Starting as an intern in 2008, Anil has worked at a few places before becoming a service captain at the restaurant where he now works.
"I got bored with the job that I was doing before because it was pretty much a work that doesn't bring me anywhere. And the fact that I love food, that was the reason why I crossed over from mechanic to the food and beverage industry," he said.
Cheong Hai Poh, who is president of Food and Beverage Managers' Association of Singapore, said there are opportunities in the industry to help workers fast-track their careers.
Mr Cheong said: "You can be fast-tracked if you are performing well. You can move from a waiter to a captain within one to two years, and from a captain to assistant manager. It depends on your own performance, knowledge and skill."
- CNA/xq/fa
- wong chee tat :)
Tuesday, October 30, 2012
我国今年第三季度的多用户工业厂房价格比第二季度大幅上涨了百分之十。
Updated: Mon, 29 Oct 2012 18:55:29 GMT
我国今年第三季度的多用户工业厂房价格比第二季度大幅上涨了百分之十。
尽管制造业前景不明朗，我国今年第三季度的多用户工业厂房价格仍比第二季度大幅上涨了百分之十。
市区重建局公布的第三季产业数据显示，这个涨幅比第二季度百分之8.3的季对季价格增幅来得高。
房地产分析人士说，政府推出私人住宅房地产的降温措施，促使投资者转而购买工厂和货仓。
另一方面，本地办公楼产业的价格则在第三季度止跌回升，升幅为百分之1.9。不过，办公楼租金的走势仍疲弱，第三季的租金微跌了百分之0.1，延续了第二季的下跌趋势。
店屋的价格则在第三季度上升了百分之1.1，比第二季百分之0.7的增幅来得高；租金则下跌了百分之0.3，跌幅同第二季度一样。
- wong chee tat :)
我国今年第三季度的多用户工业厂房价格比第二季度大幅上涨了百分之十。
尽管制造业前景不明朗，我国今年第三季度的多用户工业厂房价格仍比第二季度大幅上涨了百分之十。
市区重建局公布的第三季产业数据显示，这个涨幅比第二季度百分之8.3的季对季价格增幅来得高。
房地产分析人士说，政府推出私人住宅房地产的降温措施，促使投资者转而购买工厂和货仓。
另一方面，本地办公楼产业的价格则在第三季度止跌回升，升幅为百分之1.9。不过，办公楼租金的走势仍疲弱，第三季的租金微跌了百分之0.1，延续了第二季的下跌趋势。
店屋的价格则在第三季度上升了百分之1.1，比第二季百分之0.7的增幅来得高；租金则下跌了百分之0.3，跌幅同第二季度一样。
- wong chee tat :)
Saturday, May 21, 2011
44% of employers struggle to fill vacancies
44% of employers struggle to fill vacancies
ALMOST half of employers in Singapore have problems filling vacancies in their companies, according to a survey conducted by a human resource firm.
Up to 44 per cent of employers have found it difficult to fill critical positions, said ManpowerGroup in a press release on Friday.
Sales representatives and engineering talents were the hardest to recruit, and have topped the list for at least five years. They are followed by technicians and drivers.
Out of all employers interviewed, one-third felt that applicants tend to lack the skills and experience necessary for the job.
This signals an imbalance between the number of available workers in the workforce and the number of qualified workers.
When asked what strategies employers were pursuing to overcome their difficulties filling positions, the most common responses in Singapore were to enhance benefits packages, focusing more on staff retention and broadening recruitment outside of Singapore .
Close to 40,000 employers across 39 countries and territories were questioned in the survey.
Jobs most in demand in 2011 in Singapore
1. Sales Representative
2. Engineers
3. Technicians
4. Drivers
5. Accounting & Finance Staff
6. IT Staff
7. Skilled Trades
8. Customer Service Representatives & Customer Support
9. Labourers
10. Management / Executive (Management / Corporate)
Jobs most in demand in 2010 in Singapore
1. Sales Representative
2. Engineers
3. Production Operators
4. Teachers
5. Customer Service representatives & Customer Support
6. Drivers
7. Management/Executive (Management/Corporate)
8. IT staff
9. Sales Manager
10. Skilled Trades
- wong chee tat :)
Wednesday, March 2, 2011
Mating game: Too much choice will leave you lonely
Mating game: Too much choice will leave you lonely
March 2, 2011 by Winnie Andrews
Scientists have made a surprising discovery: The more options you have for choosing a lover, the likelier you are to end up with no-one.
Scientists have made a surprising discovery: The more options you have for choosing a lover, the likelier you are to end up with no-one.
British investigators, in a new study released on Wednesday, looked at the strange dynamics of choice in speed-dating, a fashionable way for singles to meet.
Speed-daters race through a rota of one-on-one meetings, judging each person for suitability after a conversation of a few minutes that ends when a bell sounds.
Assessing large numbers of candidates was not a problem in itself, the researchers found.
In fact, many speed-daters found more potential partners when they were able to cast their net into a larger pool.
But this advantage only worked when the available candidates were all broadly similar.
When candidates were too dissimilar, speed-daters became confused by many conflicting factors -- and often failed to choose anyone.
"There are models of human 'rationality' which posit that variety is a good thing," said researcher Alison Lenton at the University of Edinburgh in Scotland.
"What will be surprising to some people is that our results suggest that increasing option variety leads to chooser confusion. People are more likely to choose no-one at all when faced with greater variety."
The study, published in the British journal Biology Letters, tracked 1,868 female and 1,870 male participants at 84 commercial speed-dating events.
Hopeful singles gave details of their occupation, education level, age, height, weight and religious affiliation, allowing researchers to gauge differences.
The women's mean age was 34.3 years and men were aged 35.6. Twenty percent of women and 27 percent of men were in professional or managerial positions, and the remainder classified themselves as "skilled non-manual" or other occupations.
Speed-daters met in groups and engaged in three-minute encounters with between 15 and 31 singles of the opposite sex.
After the event, the organiser matched up individuals who indicated a mutual interest in each other, thus opening the way to a possible date.
Big speed-dating events typically generated 123 such "proposals," or shows of interest, when candidates were similar, the researchers found. But the number dropped by more than a quarter, to 88, when candidates were varied.
Small speed-dating events would lead to 85 proposals when candidates were similar. But this fell by nearly a third, to 57 proposals, when candidates were varied.
Men were generally keener than women in formulating a proposal -- but were also likelier to be stumped by choice.
In short, variety is fine... but in manageable doses.
"Dealing with variety requires attention and memory, and we have only so much capacity for each," Lenton explained in an email with AFP.
Extending encounters by 10 minutes might not greatly change results, she said.
"It is extremely common for us to make quick judgments about other people, even in a matter of seconds. And once those judgments are formed, they can be difficult to change."
Amber Soletti, who runs a speed-dating company in New York, said grouping singles by interest or physical preferences boosted chances of a successful connection.
Her company, OnSpeedDating.com, offers 75 niche groups, such as "Asian Persuasion," "Fitness Singles" and "Worldly Singles" who like to travel.
Soletti started the company after failing to find anyone of interest at general speed-dating events.
"I only like to date men 6-foot-1 (1.85 metres) and taller. I always went to single events that had shorter men, so I didn't find anyone," she said by phone.
But now, "If I go to our tall event, I have a better chance of meeting someone," she said.
"People know what they like."
(c) 2011 AFP
- wong chee tat :)
March 2, 2011 by Winnie Andrews
Scientists have made a surprising discovery: The more options you have for choosing a lover, the likelier you are to end up with no-one.
Scientists have made a surprising discovery: The more options you have for choosing a lover, the likelier you are to end up with no-one.
British investigators, in a new study released on Wednesday, looked at the strange dynamics of choice in speed-dating, a fashionable way for singles to meet.
Speed-daters race through a rota of one-on-one meetings, judging each person for suitability after a conversation of a few minutes that ends when a bell sounds.
Assessing large numbers of candidates was not a problem in itself, the researchers found.
In fact, many speed-daters found more potential partners when they were able to cast their net into a larger pool.
But this advantage only worked when the available candidates were all broadly similar.
When candidates were too dissimilar, speed-daters became confused by many conflicting factors -- and often failed to choose anyone.
"There are models of human 'rationality' which posit that variety is a good thing," said researcher Alison Lenton at the University of Edinburgh in Scotland.
"What will be surprising to some people is that our results suggest that increasing option variety leads to chooser confusion. People are more likely to choose no-one at all when faced with greater variety."
The study, published in the British journal Biology Letters, tracked 1,868 female and 1,870 male participants at 84 commercial speed-dating events.
Hopeful singles gave details of their occupation, education level, age, height, weight and religious affiliation, allowing researchers to gauge differences.
The women's mean age was 34.3 years and men were aged 35.6. Twenty percent of women and 27 percent of men were in professional or managerial positions, and the remainder classified themselves as "skilled non-manual" or other occupations.
Speed-daters met in groups and engaged in three-minute encounters with between 15 and 31 singles of the opposite sex.
After the event, the organiser matched up individuals who indicated a mutual interest in each other, thus opening the way to a possible date.
Big speed-dating events typically generated 123 such "proposals," or shows of interest, when candidates were similar, the researchers found. But the number dropped by more than a quarter, to 88, when candidates were varied.
Small speed-dating events would lead to 85 proposals when candidates were similar. But this fell by nearly a third, to 57 proposals, when candidates were varied.
Men were generally keener than women in formulating a proposal -- but were also likelier to be stumped by choice.
In short, variety is fine... but in manageable doses.
"Dealing with variety requires attention and memory, and we have only so much capacity for each," Lenton explained in an email with AFP.
Extending encounters by 10 minutes might not greatly change results, she said.
"It is extremely common for us to make quick judgments about other people, even in a matter of seconds. And once those judgments are formed, they can be difficult to change."
Amber Soletti, who runs a speed-dating company in New York, said grouping singles by interest or physical preferences boosted chances of a successful connection.
Her company, OnSpeedDating.com, offers 75 niche groups, such as "Asian Persuasion," "Fitness Singles" and "Worldly Singles" who like to travel.
Soletti started the company after failing to find anyone of interest at general speed-dating events.
"I only like to date men 6-foot-1 (1.85 metres) and taller. I always went to single events that had shorter men, so I didn't find anyone," she said by phone.
But now, "If I go to our tall event, I have a better chance of meeting someone," she said.
"People know what they like."
(c) 2011 AFP
- wong chee tat :)
Monday, February 7, 2011
Semicon industry likely to boom: analysts
Semicon industry likely to boom: analysts
By Rachel Kelly | Posted: 07 February 2011 1810 hrs
SINGAPORE: With a number of new wireless gadgets expected to be launched, analysts say the semiconductor industry could witness a boom in production and hiring in 2011.
Computer memory prices have been more than halved, between January 2010 and last month.
As computer makers begin to replenish stocks of components, a recovery in prices is now under way -- and that's showing up on stock markets.
Shares of South Korea's Hynix have gone up 24 per cent this year, while those of Japan's Toshiba have risen 18 per cent.
The chipmaking industry is putting last year's slump behind it.
According to a global survey of semiconductor executives by KPMG, 78 per cent expect revenues to grow by more than five per cent this year.
And an anticipated revival in PC demand is not the only source of excitement in the semiconductor industry.
It is expecting bigger gains from sales of premium chips used in smartphones, tablets and 3D TVs.
Chipmakers are looking to build new capacities to make the most of this demand growth.
Frost & Sullivan program manager, Asia Pacific Tim Chuah said: "So these are new markets or untapped markets that have been created, that will really push demand beyond your typical replacement cycles and that's smart phones.
"Then you get to your 3D Tvs (which) are new segments being created, that will drive demand in 2011.
"If you look at it from the supply side as well, there has been quite a tight supply market in 2010 because of shortage in capacity.
"I think manufacturers have been more aware of this glut in supply that has happened recently that has caused price erosion. They have been aware of this and they have not expanded supply as much as they would want to.
"So in 2011, I think a lot of them will be expanding as well.
"If you look at Global Foundries which bought over Chartered Semiconductor, they are going to spend $6 billion in 2011; TSMC is going to spend almost $7 billion in fab expansion -- so this sentiment that is happening in 2011 is something that really reflects actual demand.
"Otherwise, I don't think these companies would want to spend so much on expansion".
According to the KPMG survey, 29 per cent of global semiconductor firms predict workforce to grow more than five per cent in 2011.
With expansion comes the search for the right manufacturing location.
IDC Manufacturing Insights director Christopher Holmes said: "One of the things I'm hearing a lot of discussion (on) is the move to the next low-cost country -- where is it, what is it going to be.
"We are already seeing more and more factories moving further inland in China; we are starting to see the growth of Vietnam as a potential new low-cost centre and we are even starting to hear conversations about moving to Africa, Middle East - potential new low cost centres".
According to market research firm IHS iSuppli, sales of chips used in tablets may jump a staggering nine-fold this year.
Fitch Ratings has a stable outlook on the Asia-Pacific memory chip industry in 2011.
However, the ratings agency in a recent report said that overall industry revenue growth and profitability may come under pressure compared with 2010 due to oversupply and resultant falls in memory prices.
In a recent release by Fitch Ratings, Alvin Lim, associate director in Fitch's Asia Pacific Telecom Media and Technology ratings team, noted that "memory makers in Fitch's rating universe will be able to retain sound credit profiles in 2011 despite the likely suppression of profitability.
"The potential negative impact from a continued decline in memory prices will be well mitigated by these companies' strong market positions, efficient cost structures enabled by technology leadership, and robust liquidity".
Memory makers in Fitch's current rating universe include Samsung Electronics Co Ltd, Hynix Semiconductor Inc, and Toshiba Corporation.
-CNA/wk
- wong chee tat :)
By Rachel Kelly | Posted: 07 February 2011 1810 hrs
SINGAPORE: With a number of new wireless gadgets expected to be launched, analysts say the semiconductor industry could witness a boom in production and hiring in 2011.
Computer memory prices have been more than halved, between January 2010 and last month.
As computer makers begin to replenish stocks of components, a recovery in prices is now under way -- and that's showing up on stock markets.
Shares of South Korea's Hynix have gone up 24 per cent this year, while those of Japan's Toshiba have risen 18 per cent.
The chipmaking industry is putting last year's slump behind it.
According to a global survey of semiconductor executives by KPMG, 78 per cent expect revenues to grow by more than five per cent this year.
And an anticipated revival in PC demand is not the only source of excitement in the semiconductor industry.
It is expecting bigger gains from sales of premium chips used in smartphones, tablets and 3D TVs.
Chipmakers are looking to build new capacities to make the most of this demand growth.
Frost & Sullivan program manager, Asia Pacific Tim Chuah said: "So these are new markets or untapped markets that have been created, that will really push demand beyond your typical replacement cycles and that's smart phones.
"Then you get to your 3D Tvs (which) are new segments being created, that will drive demand in 2011.
"If you look at it from the supply side as well, there has been quite a tight supply market in 2010 because of shortage in capacity.
"I think manufacturers have been more aware of this glut in supply that has happened recently that has caused price erosion. They have been aware of this and they have not expanded supply as much as they would want to.
"So in 2011, I think a lot of them will be expanding as well.
"If you look at Global Foundries which bought over Chartered Semiconductor, they are going to spend $6 billion in 2011; TSMC is going to spend almost $7 billion in fab expansion -- so this sentiment that is happening in 2011 is something that really reflects actual demand.
"Otherwise, I don't think these companies would want to spend so much on expansion".
According to the KPMG survey, 29 per cent of global semiconductor firms predict workforce to grow more than five per cent in 2011.
With expansion comes the search for the right manufacturing location.
IDC Manufacturing Insights director Christopher Holmes said: "One of the things I'm hearing a lot of discussion (on) is the move to the next low-cost country -- where is it, what is it going to be.
"We are already seeing more and more factories moving further inland in China; we are starting to see the growth of Vietnam as a potential new low-cost centre and we are even starting to hear conversations about moving to Africa, Middle East - potential new low cost centres".
According to market research firm IHS iSuppli, sales of chips used in tablets may jump a staggering nine-fold this year.
Fitch Ratings has a stable outlook on the Asia-Pacific memory chip industry in 2011.
However, the ratings agency in a recent report said that overall industry revenue growth and profitability may come under pressure compared with 2010 due to oversupply and resultant falls in memory prices.
In a recent release by Fitch Ratings, Alvin Lim, associate director in Fitch's Asia Pacific Telecom Media and Technology ratings team, noted that "memory makers in Fitch's rating universe will be able to retain sound credit profiles in 2011 despite the likely suppression of profitability.
"The potential negative impact from a continued decline in memory prices will be well mitigated by these companies' strong market positions, efficient cost structures enabled by technology leadership, and robust liquidity".
Memory makers in Fitch's current rating universe include Samsung Electronics Co Ltd, Hynix Semiconductor Inc, and Toshiba Corporation.
-CNA/wk
- wong chee tat :)
Friday, November 5, 2010
Insurance industry continues to thrive
Insurance industry continues to thrive
By Jo-ann Huang | Posted: 04 November 2010 1755 hrs
SINGAPORE: The insurance industry continues to thrive on the need to protect against the unforeseen.
The industry is also boosted by a robust economy.
New insurance sales grew 17 per cent in the third quarter from a year earlier.
The Life Insurance Association (LIA) said new sales in the past three quarters exceeded S$1.13 billion.
Annual premiums sales grew 22 per cent from a year earlier, to S$763.7 million.
Sales of health insurance and single-premium policies grew seven to eight per cent from a year earlier.
LIA said sales may grow 20 per cent in the fourth quarter.
-CNA/wk
- wong chee tat :)
By Jo-ann Huang | Posted: 04 November 2010 1755 hrs
SINGAPORE: The insurance industry continues to thrive on the need to protect against the unforeseen.
The industry is also boosted by a robust economy.
New insurance sales grew 17 per cent in the third quarter from a year earlier.
The Life Insurance Association (LIA) said new sales in the past three quarters exceeded S$1.13 billion.
Annual premiums sales grew 22 per cent from a year earlier, to S$763.7 million.
Sales of health insurance and single-premium policies grew seven to eight per cent from a year earlier.
LIA said sales may grow 20 per cent in the fourth quarter.
-CNA/wk
- wong chee tat :)
Sunday, March 7, 2010
Singapore's ICT sector grew despite recession in 2009
Singapore's ICT sector grew despite recession in 2009
By Lynda Hong, Channel NewsAsia | Posted: 06 March 2010 2233 hrs
By Lynda Hong, Channel NewsAsia | Posted: 06 March 2010 2233 hrs
 |
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 |
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SINGAPORE : Despite the economic downturn last year, the
information and communications sector was the only area that saw growth.
And this trend is set to continue in 2010.
In addition, more jobs can be expected in the infocomm industry.
Last year, the strong areas of employment growth included digital media and animation, software development and research & development.
Acting Information, Communications and the Arts Minister Lui Tuck Yew said this at a gala dinner for the industry on Friday night.
He said the government will continue to ensure Singapore continues to maintain a pro-infocomm and pro-business environment - all to make Singapore an ideal place for investment.
Mr Lui said: "I expect IT spending to go up. The prognosis for the IT sector for 2010 is good. We know that in 2009, despite the downturn, it was one of the bright spots in terms of economic performance.
"For 2010, both the IDA (Infocomm Development Authority of Singapore) survey, and the SITF (Singapore Infocomm Technology Federation) survey indicated that 70 per cent or more of the companies have plans to expand their operations.
"2010 will be an even better year for them. And we think that this will result in more hiring and more opportunities for people."
As for homes, more than eight in 10 households are now connected to the internet. This is one of the fastest growth in years.
In 2008, three out of four households had an internet connection.
In addition, more jobs can be expected in the infocomm industry.
Last year, the strong areas of employment growth included digital media and animation, software development and research & development.
Acting Information, Communications and the Arts Minister Lui Tuck Yew said this at a gala dinner for the industry on Friday night.
He said the government will continue to ensure Singapore continues to maintain a pro-infocomm and pro-business environment - all to make Singapore an ideal place for investment.
Mr Lui said: "I expect IT spending to go up. The prognosis for the IT sector for 2010 is good. We know that in 2009, despite the downturn, it was one of the bright spots in terms of economic performance.
"For 2010, both the IDA (Infocomm Development Authority of Singapore) survey, and the SITF (Singapore Infocomm Technology Federation) survey indicated that 70 per cent or more of the companies have plans to expand their operations.
"2010 will be an even better year for them. And we think that this will result in more hiring and more opportunities for people."
As for homes, more than eight in 10 households are now connected to the internet. This is one of the fastest growth in years.
In 2008, three out of four households had an internet connection.
-
CNA/ms
- wong chee tat :)
Sunday, January 10, 2010
Survey shows poly graduates in high demand despite downturn
Survey shows poly graduates in high demand despite downturn
By Mustafa Shafawi, Channel NewsAsia | Posted: 06 January 2010 1136 hrs
By Mustafa Shafawi, Channel NewsAsia | Posted: 06 January 2010 1136 hrs
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Office workers in Singapore |
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SINGAPORE: Despite the recession, diploma-holders appear to have no trouble finding work. A recent survey by Singapore's five polytechnics showed that nearly nine in 10 graduates last year were employed, with a growing number seeking temporary jobs.
Fresh grad employment rate stood at 88.3 per cent, while post-NS employment rate was 87.7 per cent.
Renugah Balachandran graduated from Republic Polytechnic last year. Within a month, she found a job with the Singapore Navy, under a scheme that will bond her for four years.
She said: "I wanted a stable job once I graduated so that I don't have to sit down and think that - 'why did I study?'"
Stability is certainly a big draw for the growing number of diploma holders who are looking at the public sector, which also started hiring more aggressively in 2009.
The healthcare and education sectors were among those that stepped up recruitment efforts.
The survey showed that 18.9 per cent of fresh polytechnic graduates found jobs in the civil service, up from 14.3 per cent in 2008 and 12.3 per cent in 2007.
Among post-NS graduates, the proportion went up to 27.3 per cent.
Tan Hang Cheong, principal, Singapore Polytechnic, said: "Last year, the government opened up more places because of the recession. The public sector has now offered better career development, advances, for diploma graduates.
"We hear stories of graduates who've joined the public sector and they've been offered scholarships for further studies and further development if they're doing well in their job."
Pay could be another reason.
Renugah earns about S$2,300 a month including allowance, much higher than the S$1,776 gross her peers earn on average.
Post-National Service graduates earn about S$2,130 on average.
Starting salaries for fresh diploma-holders have dipped and recruiters said anecdotally, wages at bigger firms have gone down to a bigger extent than what smaller firms are offering. Still, the draw remains.
Peter Haglund, country manager, Manpower Inc Singapore, said: "Most of what these MNCs have is a whole package of career management, career prospects and personnel development, which many of the small companies don't have.
"These benefits cost money as well. If you look at the whole employment package, they might not offer less value, but they might offer you less gross salary."
Highest earners are those in the maritime category, with starting pay of S$1,970 gross. Media and Design graduates got the least, at just S$1,642 gross.
With the economy still in recession early last year, more poly graduates chose part-time or temporary work - one in four compared to one in five in the previous survey.
The reasons are varied. Some are holding out for better job opportunities while others have opted for further studies.
Recruiters added that as companies find increasingly flexible ways to manage their manpower, the type of contract work that is being offered has also become increasingly attractive.
Graduate employment data for degree holders is expected to be out in March.
But a survey by the Singapore Human Resource Institute showed that in August 2009, while entry level pay for diploma holders rose slightly from February, that for degree holders dipped.
For instance, those with engineering degrees were offered on average S$2,451, compared to S$2,500 six months before.
- CNA/vm
- wong chee tat :)
Financial sector much better but still fragile: financial chief
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Mario Draghi |
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BASEL, Switzerland : The Financial Stability Board said Saturday the situation in the financial sector had improved but remained still very fragile.
"The situation is much better than one year ago," said Mario Draghi, governor of the Italian central bank and chairman of the FSB, a global watchdog made up of senior representatives of national financial authorities.
"It's improving, but it has many fragilities," he added at a news conference at Bank for International Settlements headquarters.
The Financial Stability Board which is working on a number of steps to strengthen the banking system and avert another financial crisis will present its preliminary conclusions to Group of 20 nations in June, Draghi said.
The G-20 group of major economies was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy.
- AFP /ls
- wong chee tat :)
Friday, December 18, 2009
GMAT cheating worries US colleges
GMAT cheating worries US colleges
Thu, Dec 17, 2009
China Daily/Asia News Network
US universities are concerned about Chinese students' cheating on entrance exams across the country, according to experts.
"Anything from China is suspect in the United States now in the education realm," said Steven Dickinson, a China-based lawyer and former law professor at the University of Washington who worked with the school's admissions office to select international candidates.
The problem stems not necessarily from the students themselves but rather from the resources Chinese rely on to study for admissions tests, like the Graduate Record Examinations and the Graduate Management Admission Test (GMAT).
In 2008, 98,510 Chinese students went to study in the US, growing 21 percent over 2007, a report by the Institute of International Education said. China was the second largest source of foreign students in the US after India.
The Graduate Management Admission Council (GMAC), which distributes the GMAT exam, sued Passion for copyright infringement after it posted "live" test questions from GMAT exams online and distributed PDFs from test books.
A Beijing court ordered Beijing Passion Consultancy Ltd on Nov 23 to pay a fine of 520,000 yuan (S$106,496) for copyright infringement and publicly apologize for its actions.
Passion, a company that has trained around one third of Chinese students applying to the top 10 American business schools, said on Tuesday that it was sorry for selling GMAT materials without authorization.
After testing materials were removed, the traffic of Passion's website dropped by 70 percent in the past week, according to Internet traffic monitoring website Alexa.com.
Chinese students frequent a number of websites that reportedly hire staff to pose as test-takers and post reconstructed "live" questions from the exams for free online. Some of the proxy test-takers have employed hi-tech gadgets, including cameras and microphones, to obtain exam material.
"They will hire people to take the test and then steal the test book," Dickinson said. "Or they will get even more nasty and get an insider to send the text book that is coming out next and then get the answers to certain tests."
Even with GMAC's litigation against Passion, many other test-prep websites exist providing materials to Chinese students facing stiff competition to get into foreign schools.
Thu, Dec 17, 2009
China Daily/Asia News Network
US universities are concerned about Chinese students' cheating on entrance exams across the country, according to experts.
"Anything from China is suspect in the United States now in the education realm," said Steven Dickinson, a China-based lawyer and former law professor at the University of Washington who worked with the school's admissions office to select international candidates.
The problem stems not necessarily from the students themselves but rather from the resources Chinese rely on to study for admissions tests, like the Graduate Record Examinations and the Graduate Management Admission Test (GMAT).
In 2008, 98,510 Chinese students went to study in the US, growing 21 percent over 2007, a report by the Institute of International Education said. China was the second largest source of foreign students in the US after India.
The Graduate Management Admission Council (GMAC), which distributes the GMAT exam, sued Passion for copyright infringement after it posted "live" test questions from GMAT exams online and distributed PDFs from test books.
A Beijing court ordered Beijing Passion Consultancy Ltd on Nov 23 to pay a fine of 520,000 yuan (S$106,496) for copyright infringement and publicly apologize for its actions.
Passion, a company that has trained around one third of Chinese students applying to the top 10 American business schools, said on Tuesday that it was sorry for selling GMAT materials without authorization.
After testing materials were removed, the traffic of Passion's website dropped by 70 percent in the past week, according to Internet traffic monitoring website Alexa.com.
Chinese students frequent a number of websites that reportedly hire staff to pose as test-takers and post reconstructed "live" questions from the exams for free online. Some of the proxy test-takers have employed hi-tech gadgets, including cameras and microphones, to obtain exam material.
"They will hire people to take the test and then steal the test book," Dickinson said. "Or they will get even more nasty and get an insider to send the text book that is coming out next and then get the answers to certain tests."
Even with GMAC's litigation against Passion, many other test-prep websites exist providing materials to Chinese students facing stiff competition to get into foreign schools.
Thursday, November 5, 2009
S'pore workers can expect 3% salary rise next year: survey
S'pore workers can expect 3% salary rise next year: survey
By 938LIVE | Posted: 05 November 2009 1333 hrs
SINGAPORE: Employees in Singapore can expect salary increases of three per cent next year. That is up from this year's two per cent, said outplacement firm, ECA International.
Its latest Salary Trends Survey said within the region, salary increases remain highest in China, India, Indonesia and Vietnam. Pay rises will be lowest in Japan.
ECA International's regional director for Asia, Lee Quane, said Singapore's forecast pay increases, like Hong Kong and Taiwan's, are lower than the regional average.
This is due to the fact that these are developed economies with low inflation rates.
The survey found that salary increases within the region are predicted to average at five per cent in 2010, almost twice as high as this year.
Mr Quane said these forecasts are an indicator that companies operating within the region are much more confident about economic conditions than a year ago.
They suggest that many employers are actively making up for the fact that employees typically experienced little or no salary increase this year.
- 938LIVE/vm
- wong chee tat :)
By 938LIVE | Posted: 05 November 2009 1333 hrs
SINGAPORE: Employees in Singapore can expect salary increases of three per cent next year. That is up from this year's two per cent, said outplacement firm, ECA International.
Its latest Salary Trends Survey said within the region, salary increases remain highest in China, India, Indonesia and Vietnam. Pay rises will be lowest in Japan.
ECA International's regional director for Asia, Lee Quane, said Singapore's forecast pay increases, like Hong Kong and Taiwan's, are lower than the regional average.
This is due to the fact that these are developed economies with low inflation rates.
The survey found that salary increases within the region are predicted to average at five per cent in 2010, almost twice as high as this year.
Mr Quane said these forecasts are an indicator that companies operating within the region are much more confident about economic conditions than a year ago.
They suggest that many employers are actively making up for the fact that employees typically experienced little or no salary increase this year.
- 938LIVE/vm
- wong chee tat :)
Thursday, October 8, 2009
Medtronic invests S$80m in Singapore plant
Medtronic invests S$80m in Singapore plant
By Rachel Kelly, Channel NewsAsia
SINGAPORE: Global medical technology firm Medtronic is investing some S$80 million to set up a manufacturing facility in Singapore.
On Thursday, the firm also marked the opening of its international headquarters, which it has moved to Singapore to tap into growing demand in Asia.
Currently 10% of Medtronic's business comes from Asia but it expects significant growth in the region.
The new facility in Singapore will produce cardiac rhythm disease management devices.
Production is set to start in 2011.
Medtronic expects to hire over 100 staff over the next two years as production ramps up.
- wong chee tat :)
By Rachel Kelly, Channel NewsAsia
SINGAPORE: Global medical technology firm Medtronic is investing some S$80 million to set up a manufacturing facility in Singapore.
On Thursday, the firm also marked the opening of its international headquarters, which it has moved to Singapore to tap into growing demand in Asia.
Currently 10% of Medtronic's business comes from Asia but it expects significant growth in the region.
The new facility in Singapore will produce cardiac rhythm disease management devices.
Production is set to start in 2011.
Medtronic expects to hire over 100 staff over the next two years as production ramps up.
- wong chee tat :)
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