| National Affairs
Singapore tries to imagine a future without Lee Kuan Yew Washington Post 18th Mar 2015
Citizens are facing the prospect of a Singapore without Lee. Now 91, the elder statesman was hospitalized with pneumonia at the beginning of February and placed on a ventilator. The office of the prime minister — Lee’s oldest son, Lee Hsien Loong — said Tuesday that his condition had worsened due to an infection and on Wednesday said that he had deteriorated further and he was critically ill in the intensive care unit. Although Lee has been ill before and rebounded, there is a sense here that this time is more serious and that Singapore might, on the 50th anniversary of its independence, be marking another historic moment.
Singapore 'will have to ease immigration laws to stay competitive': EIU Straits Times 17th Mar 2015
Despite moves to curb immigration in recent years, Singapore will likely ease its rules on foreigner inflows in the long-term to remain economically competitive, the Economist Intelligence Unit (EIU) predicted on Tuesday. This is because efforts to incentivise family formation and boost productivity among businesses have proved disappointing, the research unit said in a new report. "In the long run, the changing population profile and the need to remain competitive will lead the Government to ease its immigration laws," said the 10-page special report on the state of affairs in Singapore in its 50th year.
Condition of Lee Kuan Yew, Singapore's founding father, worsens CNN 17th Mar 2015
The health of Singapore's first prime minister, Lee Kuan Yew, who has been in hospital with pneumonia since February 5, has worsened, the government said on Tuesday. The Prime Minister's Office said that Lee, 91, who is on a ventilator in the intensive care unit of Singapore General Hospital, had an infection and was being treated with antibiotics. Born in 1923, he co-founded the city state in 1965 when it declared its independence from Malaysia and was its prime minister for more than three decades.
The Big Tent approach to ensuring Singapore's survival Straits Times 17th Mar 2015
Singapore can take the "Big Tent" approach that its founding fathers adopted. Mr Lee Kuan Yew, Dr Goh Keng Swee and Mr S. Rajaratnam were the pioneers of this approach. As Singapore is small, its pool of top talent is naturally also small. Hence, our founding fathers knew that they must be prepared to work with all Singaporeans, even those who had been critical of the PAP and its leaders. In addition, the survivability of Singapore can be enhanced if we become the biggest cheerleader of Asean. It is truly sad that so few Singaporeans are aware that one reason Singapore remains so peaceful and safe today is because a giant political umbrella called Asean has been erected over South-east Asia, including Singapore. This essay is adapted from the introduction to the latest book by Kishore Mahbubani, Can Singapore Survive?
President declares August 7 a public holiday for SG50 Yahoo News 14th Mar 2015
August 7 will be a public holiday in Singapore this year to commemorate the nation's 50 years of independence, which will extend the Jubilee weekend over four days. Chairman of SG50 Steering Committee Minister Heng Swee Keat says, "SG50 is a unique moment in our young nation’s history. It is a time for us to show appreciation to our pioneers, to strengthen our ties as one big Singaporean family, and to celebrate all that is special, all that we love, about our home. Many Singaporeans and organisations have come up with ideas on how to make SG50 meaningful and personal.”
Parliament passes record $79.9 billion Budget Straits Times 13th Mar 2015
Parliament on Friday approved a record $79.9 billion Budget, with Leader of the House Ng Eng Hen and Speaker Halimah Yacob lauding it as one that will bring Singapore closer to its vision of a "fair and inclusive society". With this Budget, and the three previous ones in its current term in office, the Government has "surely and steadily" made the deep structural changes needed to prepare Singapore for the challenges ahead, Dr Ng said. As he wrapped up nine days of discussions over the Government's spending plans, he said the initiatives introduced over the past four years have significantly strengthened social safety nets and redistributed more wealth to the lower and middle class.
Singapore Budget 2015: Identify what defines Singaporeans and deserves to be celebrated Straits Times 11th Mar 2015
As Singapore celebrates its 50th year of independence, it is important to identify what defines its people as Singaporeans, said Mr Baey Yam Keng (Tampines GRC) on Wednesday. In his speech, he highlighted "uniquely Singaporean" cultural traits which have slowly gained recognition only recently, such as Singlish and local hawker foods. Mr Baey singled out other facets that he said deserved to be celebrated. The xinyao genre of Singapore Chinese songs, for example, exemplifies a ground-up "passion and pursuit of people with ideas and creativity who took it upon themselves to write the songs they want to sing, the voice they want to have", he said.
Singapore Budget 2015: Greater opportunities for non-graduates to rise in civil service Straits Times 10th Mar 2015
From Aug 1, non-university graduates joining the civil service will be hired under the same scheme as university graduates. This means that they will have greater opportunities to advance, and when they reach a certain grade, will be assessed for performance and potential in the same way as their graduate colleagues at the same level. The move aims to bridge the gap in career prospects between graduates and non-graduates.
Singapore Defends Caning The Diplomat 10th Mar 2015
Singapore is defending last week’s court decision calling for two German men to be caned, rejecting criticism that the punishment constitutes torture. The men were convicted of vandalizing a public train carriage and repeatedly trespassing into a high-security depot. Following the decision, Phil Robertson, deputy-director of the Asia division of Human Rights Watch, criticized the judiciary’s “shameful recourse” to using torture, calling the decision indicative of a “blatant disregard for international human rights standards.” “Every day that Singapore keeps caning on its books is a dark day for the country’s international reputation,” Robertson told Reuters in an email.
Negotiating Singapore’s meritocracy EAF 5th Mar 2015
Recent debates on meritocracy raise questions as to what Singapore regards as merit. Several concepts have emerged reflecting how meritocracy is evolving in the Singaporean context, such as ‘compassionate meritocracy’, ‘trickle up meritocracy’ and ‘meritocracy through life’. The 50th anniversary of independence is an opportune time for Singaporeans to deliberate how they understand the country today and its driving forces, including the idea of meritocracy. Described as a national core value, meritocracy has been justified as a practice that rewards the hardworking and deserving with economic success and social mobility. Meritocracy is said to have provided equal opportunities to all in Singapore’s multicultural society. But recent debates highlight the negative side-effects of meritocracy in Singapore, which include a widening income gap and growing elitism. These issues largely revolve around how the term merit should be understood and whether the effects of meritocracy are congruent with Singapore’s desire to be an inclusive society.
Asean Economic Community will boost opportunities for Singapore: Shanmugam Straits Times 5th Mar 2015
The Asean Economic Community (AEC), which will be formed this year, will boost opportunities for Singaporeans and local companies, Foreign Minister K. Shanmugam said in Parliament on Thursday. Singapore can become the "New York of Asean", he said, in a bid to clarify misperceptions that the AEC will result in jobs being lost and put small and medium-sized firms at a disadvantage. "Every Asean country will benefit in its own way through the AEC. For us, the AEC provides our people and companies with greater opportunities across Asean," he said. In Singapore's favour is its unique position as a centre for capital, with rule of law and a safe, stable environment conducive for businesses, he added.
Singapore Budget Debate 2015: The debate in 2 minutes on Day 2 Straits Times 4th Mar 2015
Parliament continued the debate on the 2015 Budget Statement delivered by Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam last week. A total of 26 MPs, including labour chief Lim Swee Say, rose to speak on the second day of the debate. The $500 each Singaporean aged 25 and older will get, for approved courses to upgrade themselves, will pay off only if workers as well as employers commit to a culture of change and learning, said MPs. Labour chief Lim Swee Say called on both sides to adopt a mindset of "embracing the future," while Mr Ong Teng Koon (Sembawang GRC) said SkillsFuture will not take off "without a personal commitment, rooted in a sense of responsibility towards oneself and one's family".
S&P gives Singapore top unsolicited rating following Budget 2015 announcement Channel NewsAsia 3rd Mar 2015
The Republic's Budget for Financial Year 2015 "shows the strength of the government’s institutional and governance effectiveness", and would keep Singapore's credit strong despite its ageing population, Standard & Poor’s Rating Services (S&P) said in a media release on Tuesday (Feb 24). A day after the Budget was announced by Deputy Prime Minister Tharman Shanmugaratnam, the ratings agency issued a top AAA unsolicited rating on Singapore. The unsolicited rating should not be interpreted as a change to the country's Credit Rating or Rating, said S&P. While the Government forecast a projected Budget deficit of S$6.7 billion in the fiscal year ending March 2016, S&P said it estimated that "the general government account will remain in surplus over the fiscal years ending March 2015 and March 2016", after accounting for revenue not reported as part of the Budget.
Singapore Budget 2015: WP's Sylvia Lim lauds 'leftwards' shift to mitigate inequality The Straits Times 3rd Mar 2015
Workers' Party MP Sylvia Lim (Aljunied GRC) on Tuesday praised the "leftwards" shift in this year's Budget, which introduced more social safety nets and other measures to mitigate inequality in society. She also welcomed the Government's decision to raise money for these measures by hiking income taxes on the rich and tapping on more contributions from state investment firm Temasek Holdings. Ms Lim, the first opposition MP to speak during the Budget debate in Parliament, noted that Budget 2015 signalled a move away from the traditional emphasis on self-reliance towards more "collective responsibility".
Customs
International Trade Council in Singapore appoints new chairperson Straits Times 12th Mar 2015
The International Trade Council (ITC) in Singapore announced on Thursday that it has appointed Mr David Tong How Heng its chairperson. Mr Tong, 71, is a qualified Chartered Accountant in Australia and Singapore. He was the founder of Medora & Tong, which later merged with Touché Ross & Co Singapore. He spent the next decade as a managing partner at the firm, which later merged with Deliotte and is now known as Deliotte Touche Tohmatsu. Mr Tong has experience in a variety of areas, including hospitality consulting, statutory and internal audits, tax compliance and advisory services and mergers and acquisitions.
Defense & Security
India Should Play Bigger Role in South China Sea, Says Singapore Bloomberg 16th Mar 2015
Singapore said it wants India to play a bigger role in the South China Sea as China hastens land reclamation in the disputed waters that carry some of the world’s busiest shipping lanes. Singapore has been a strong supporter of India’s increased engagement in the region through security forums, Defense Minister Ng Eng Hen said in an interview on Monday after a meeting with Southeast Asian counterparts in Langkawi, an island in Malaysia. The group declared its commitment to the principle of no first use of force, he said.
RSN Launches New Submarine Training Centre and Retires Two Submarines Defense Studies 13th Mar 2015
RSN submariners undergoing helmsman training in one of the training facilities housed in the Submarine Training Centre. Chief of Navy Rear-Admiral Lai Chung Han officiated at the launch of the new Submarine Training Centre (STC) at Changi Naval Base this afternoon. Since 2000, the Republic of Singapore Navy (RSN) has been conducting local submarine training and qualifying new submariners in Singapore. The launch of the STC signifies a major milestone in the history of RSN's local submarine training. The STC is a one-stop training facility that enhances training realism, effectiveness and efficiency, and is able to meet all operational training and qualification requirements for the submariners. The STC also features simulators where both individual and team training can be conducted in a safe environment incorporating realistic scenarios.
In face of 'hybrid warfare', SAF must constantly remake itself: Ng Eng Hen Channel NewsAsia 5th Mar 2015
The security threats the Republic is facing is constantly evolving - which is why the Singapore Armed Forces must constantly "remake itself" to ensure it is able to nullify the evolving threats the Republic could face, said Defence Minister Dr Ng Eng Hen. At the Committee of Supply 2015 debate in Parliament on Thursday (Mar 5), Dr Ng highlighted the need to be able to take on hybrid warfare - which he described as an orchestrated campaign to fracture the solidarity of the target nation through undermining its defences in civil, economic, social, psychological and military spheres - as one such threat. While a recent incarnation of "hybrid warfare" is the rise of the Islamic State, the concept of hybrid warfare "is as old as war itself", Dr Ng said. "This is why we launched Total Defence in 1984. What is new is the amplification of dis-information due to social media. No country, including Singapore, is immune to this dis-information war," he said.
Defence Minister: Singapore must beef up defence during peacetime Straits Times 5th Mar 2015
It will be "too little, too late" to build a defence force only when danger is about to strike, Defence Minister Ng Eng Hen said yesterday. That is why Singapore, as a small state, has to build a strong defence during peacetime. Speaking in Parliament on Thursday during his ministry's budget debate, Dr Ng said the Republic "can continue to avoid sharp increases and dips in defence spending". This is despite an 11 per cent annual growth in defence spending by its neighbours in South-east Asia. Dr Ng also announced on Thursday its will upgrade its land, sea and air war-fighting capabilities "at a steady pace".
Economics
Singapore's retail landscape likely to remain 'challenging': Al-Futtaim's Head of Business in Asia Channel NewsAsia 17th Mar 2015
The retail landscape in the Republic will likely remain challenging over the next one to two years, said Al-Futtaim's Head of Business in Asia, Kesri Kapur. On Mar 12, the Dubai-based Al-Futtaim Group announced the consolidation of its business portfolio in Singapore. Mr Kapur said staff affected by the imminent closure of two John Little outlets at Marina Square and Tiong Bahru Plaza and a Marks & Spencer store at Centrepoint in Singapore have been given the opportunities to be re-deployed. Al-Futtaim's portfolio in Singapore also includes Robinsons and the RSH Group.
Executive pay: Singapore v Hong Kong Financial Times 12th Mar 2015
Singaporean executives were the highest paid in Asia last year, while the Hong Kong-China pay gap narrowed. Base salaries for executives in 2014 were highest in Singapore, with an average base bay of $586,000 a year – compared to $445,000 a year in Hong Kong, according to a report on global pay by consultancy Towers Watson. However Hong Kong could yet take the crown – with the Hong Kong dollar pegged to the US dollar, should the latter continue to rise then the territory’s currency will also strengthen, to the detriment of those paid in Singapore dollars, which , a currency which is closely managed.
Financial Services
More Singapore shoppers buy in-store than online Jakarta Post 13th Mar 2015
Brick and mortar retailers still have the march on their online counterparts, going by a recent consumer survey. The poll of 1,002 Singaporeans found that 56 per cent of respondents indicated that their most often-used method to buy non-food items is in-store. And when asked to rate their favourite haunts, 85 per cent said they visited a physical store at least once a month, much more than the 49 per cent for online stores. Shoppers were also likely to snap up bigger-ticket items in-store than online. The survey by consultancy CBRE Group in August last year found that 83 per cent spent S$51 (US$36.77) to more than S$500 per month at brick and mortar stores, compared with only 68 per cent that did so online. A sizeable proportion of online shoppers (33 per cent) spent S$50 or less per month, compared with 18 per cent for in-store shoppers.
1MDB moves $1.53b from Cayman Islands to bank in Singapore, not Malaysia Straits Times 11th Mar 2015
Malaysia’s state investment agency has transferred US$1.103 billion (S$1.53 billion) in investment proceeds from the Cayman Islands to a bank in Singapore, the Finance Ministry said on Wednesday. This is to facilitate fund withdrawals as approval from Malaysia’s central bank is needed for transactions exceeding RM50 million (S$18.79 million), the ministry said in a written reply to a question from opposition lawmaker Tony Pua in parliament. 1Malaysia Development Berhad (1MDB), which is owned by the Finance Ministry, is struggling to pay off billions of ringgit in loans.
China legal threat dents ICE’s Singapore plans Financial Times 11th Mar 2015
Intercontinental Exchange has been forced to delay the launch of its new Singapore platform after a Chinese exchange threatened legal action to stop the US group launching two commodity futures that are copies of contracts offered in China. The move by the Zhengzhou Commodity Exchange is likely to send shockwaves through the global futures industry because it signals that China will not tolerate foreign exchanges copying its futures contracts, and comes despite the practice of offering “lookalike” contracts being accepted around the world for years. It also highlights how China appears determined to challenge a long-accepted industry norm in the way futures markets function, just as big global banks are assessing plans by China to open up its Shanghai futures markets to foreign participation.
Singapore: SIRC to go annual from 2017 onwards Asia Insurance Review 10th Mar 2015
Following the announcement of the 2015 SIRC theme "Managing Risks in an Uncertain World", and responding to popular demand, the Singapore International Reinsurance Conference has declared that from 2017, it will go annual. This is in response to the rising needs of the Asian reinsurance market place for a dedicated and centralized annual forum to meet in preparations for renewals. This two-year public notice is given to ensure minimal disruption to the planning of other established biennial events in the region including the East Asian Insurance Congress (EAIC), said Mr Sivam Subramaniam, Chairman of the SIRC Organising Committee. The SIRC, which draws some 900 delegates from more than 40 countries, will be held at the Marina Bay Sands, Singapore, where it has been staged since 2011.
Singapore Exchange adds new Asian currency futures The Straits Times 10th Mar 2015
Local bourse Singapore Exchange (SGX) will add new Asian currency futures contracts to its foreign exchange (FX) futures offering. It said in a statement on March 10 that those on the Taiwanese dollar and yuan crosses will be added in the third quarter of 2015, subject to regulatory approval. "This is in line with global G20 regulatory reforms in the over-the-counter (OTC) derivatives sector to encourage trading on electronic platforms and exchanges, if appropriate," said SGX. The SGX Asian FX futures suite grew over the past year, reaching more than US$37 billion in aggregate notional value traded since its launch.
Singapore wants 'soft landing' for housing market: Khaw Boon Wan Channel NewsAsia 10th Mar 2015
National Development Minister Khaw Boon Wan on Tuesday (Mar 10) reiterated that Singapore wants to see a "soft landing" for its housing market. 2014 was the first full year that home prices fell after several years of increase, amid Government measures to cool the property market. HDB resale flat prices slipped by six per cent, while private homes saw a four per cent decline. Some Members of Parliament (MPs) raised concerns that the market may slip too far, and Mr Khaw said the Government will be careful in that respect. The current property cycle picked up from its trough in 2009.
Singapore Exchange opens Hong Kong office amid strong run The Straits Times 9th Mar 2015
Singapore Exchange (SGX) today officially opened its new Hong Kong office, following a strong run last year. Mr Chew Sutat, executive vice president of SGX, hosted the office opening and reiterated the exchange's continued focus and commitment to its operations in Greater China. "With its strategic location to China and Taiwan, Hong Kong is an integral part of SGX's Greater China strategy," he commented. "We have been working closely with our local partners in contributing to the development of Hong Kong's derivatives market." Since its opening in July 2014, SGX's Hong Kong operations have registered positive growth in both traded volumes and members, including China Xin Yongan Futures Co and Celestial Commodities.
Singapore: Great American Insurance lands in Lion City Asia Insurance Review 9th Mar 2015
Great American Insurance Group has announced that its lead insurer, Great American Insurance Company, has received preliminary approval from the Monetary Authority of Singapore to establish a branch operation. It plans to begin underwriting risks once all pre-conditions for licensing have been completed, estimated to be around June this year. With its entry into the Singapore insurance market, Great American Insurance Group expands its international footprint into Southeast Asia. This opportunity allows Great American to actively participate in Singapore’s efforts to establish itself as a global insurance hub. Upon opening of its Singapore branch, Great American will focus on specialty lines, both onshore and offshore. The Singapore Branch will be led by Mr Chee Keng Koon, a seasoned insurance professional in the Singapore and Asian markets.
Singapore: Next round of risk-based capital study scheduled in Q2 Asia Insurance Review 5th Mar 2015
The Monetary Authority of Singapore (MAS) will conduct another round of its Quantitative Impact Study (QIS) in the second quarter of this year to evaluate the effect of an enhanced risk-based capital (RBC2) proposal on insurance companies, said its Deputy Managing Director (Financial Supervision) Ong Chong Tee. Analysts expect that the exercise would help finalise the calibration of the various factors for RBC2 some time this year, with the new framework set to be effective from January 2017. Speaking at the Life Insurance Association’s (LIA) annual luncheon yesterday, Mr Ong assured the industry that the new capital framework will be “fit-for-purpose and not hamper well managed insurance businesses unduly”.
April target for direct purchase of basic insurance products The Straits Times 4th Mar 2015
The much anticipated move to allow consumers to compare life insurance products and to avoid agents and buy basic policies directly is expected to begin next month, according to a top regulatory official. Mr Ong Chong Tee, deputy managing director for financial supervision at the Monetary Authority of Singapore (MAS), told a Life Insurance Association (LIA) lunch on Wednesday that the target launch date will be "early April". The direct purchase channel and the web aggregator were key initiatives suggested by the Financial Advisory Industry Review (Fair) panel, which was set up in 2012 to raise industry standards and improve the distribution of products. The MAS indicated in October that a web aggregator to allow consumers to compare the premiums and features of life insurance products would be ready in the first quarter this year.
Food & Agriculture
National cassava body in the works PPP 3rd Mar 2015
A year after establishing the Cambodia Rice Federation, the Ministry of Commerce is planning to set up a cassava organisation to boost production of the root vegetable in the Kingdom. Ministry spokesman Ken Ratha said yesterday that the National Cassava Federation would be completed soon, under the auspices of the ministry’s Department of Private Sector Development. “The cassava sector comes second to the rice sector, as many Cambodians are working in this field too,” he said. According to Ratha, the federation will work similarly to the Cambodia Rice Federation and will try to identify and deal with challenges in the cassava sector. The association is to comprise relevant partners such as farmers, traders, exporters, and government agencies. Pang Vannaseth, director of Battambang’s Agricultural Department, said Battambang province has about 62,000 hectares of cassava plantations. He added that while cultivation has been increasing yearly, the sector still faces many challenges such as unstable prices, a shortage of warehouses, and a lack of capital among farmers. “Having a federation with one voice will be good. I hope it will solve some issues we face,” he said. “I wish to have the federation as soon as possible.”
Fish deaths: Growing concern over future of fish farms amid recurring plankton blooms Straits Times 10th Mar 2015
The plankton bloom which wiped out more than 500 tonnes of fish along the East Johor Strait last week, and seems to have now affected farms in the western side, has raised concerns on the industry's future here. Affected farmers told The Straits Times that despite earlier warnings given by the Agri-Food and Veterinary Authority (AVA), they were shocked at how sudden and severe the latest bloom was.
Health & Life Sciences
HSA warns against eight illegal health products that contain prohibited ingredients Straits Times 17th Mar 2015
The Health Sciences Authority (HSA) on Tuesday warned the public not to buy or consume eight illegal health products which are available here through online sites. The products, marketed as dietary and sports nutrition supplements, were found to contain "potent Western medicinal ingredients" which are not allowed in supplements sold in Singapore, HSA said. The eight products were marketed for energy boosting, muscle building or weight loss purposes.
Patients to get more convenient access to subsidised medication Channel NewsAsia 16th Mar 2015
Intermediate and Long-Term Care (ILTC) patients will now be able to obtain subsidised medication directly from their ILTC providers instead of having to make a trip down to polyclinics or public hospitals. The Ministry of Health (MOH) has been progressively extending drug subsidies to its subsidised ILTC patients since January this year. This has enabled patients to obtain more affordable drugs and access them more conveniently. In the past, patients had to travel out of the nursing home to a public pharmacy to get their subsidised medication.
Singapore Budget 2015: Keeping it affordable to age gracefully in community Straits Times 12th Mar 2015
Private operators can now place bids to provide government-subsidised home and community care services for Singapore's growing elderly population, said Senior Minister of State Amy Khor on Thursday. Previously, private operators could provide these services but not under government-subsidised rates. The move would help Singapore scale up capacity and provide affordable care for a greying population, Dr Khor told Parliament during the debate on the Health Ministry's Budget.
Singapore Budget 2015: Singapore will have a continued supply of obstetricians, says Lam Straits Times 12th Mar 2015
Between 60 and 70 new obstetricians will graduate over the next five years, ensuring that there will be no shortage of obstetric services, said Minister of State for Health Lam Pin Min on Thursday. He added that Singapore also has enough trained, experienced midwives who are also able to deliver babies in restructured hospitals. He was responding to a question from Nominated MP Kuik Shiao-Yin, who asked how changes in medical indemnity coverage for doctors could affect the supply of obstetricians.
Singapore Budget 2015: One in 3 Singaporeans now on health help scheme Chas Straits Times 12th Mar 2015
One in three Singaporeans - or 1.2 million people - are now on the Community Health Assist Scheme (Chas), said Minister of State for Health Lam Pin Min on Thursday. This includes members of the pioneer generation, who are eligible for special Chas subsidies. And around 500 new general practitioners (GPs) and dental clinics have come on board the scheme in the past year, making for a total of more than 1,300.
Multinational drug firm GSK to establish new global headquarters in Singapore Singapore Business Review 11th Mar 2015
Multinational drug firm GlaxoSmithKline (GSK) today revealed that it is going to establish its new global headquarters in Singapore. GSK has signed an agreement with Boustead Development Partnership, a subsidiary of mainboard-listed Boustead, to develop and lease a new building which will be the company’s new global headquarters for Asia.
Singapore on track for 'more sustainable' population growth: PMO Channel NewsAsia 11th Mar 2015
The Republic remains on track for "slower and more sustainable" population growth, with the overall growth rate of 1.3 per cent in 2014 the slowest in the past 10 years. This is in line with what was proposed in the Population White Paper and a result of concrete measures taken to moderate foreign workforce growth said Ms Grace Fu, Minister in the Prime Minister's Office, speaking at the Committee of Supply 2015 debate on Tuesday (Mar 10). She added that the size of the Permanent Resident population in Singapore has "stabilised" over the past two years, falling slightly from 531,000 in 2013 to 528,000 last year.
Healthcare infrastructure gets shot in the arm, including more beds, new polyclinic Channel NewsAsia 12th Mar 2015
More hospital beds, new specialist centres and a new polyclinic at Bukit Panjang are among the healthcare infrastructure investments in the pipeline, according to Health Minister Gan Kim Yong in Parliament on Thursday (Mar 12). Over the last decade, more than 1,200 acute beds and 500 community hospital beds were added. But in the five years from now until 2020, the ministry is targeting to add at least 1,700 acute beds from the two new general hospitals - a rate of expansion Mr Gan said was "more than double" that of the last decade.
Singapore scientists discover new genes linked to leprosy The Straits Times 9th Mar 2015
Scientists in Singapore have discovered six new genes that influence people's risk of developing leprosy, an infectious disease that causes severe, disfiguring skin sores and nerve damage in the arms and legs. This brings the total number of known genes linked to the disease to 16.
2 in 10 foreign domestic workers in Singapore vulnerable to mental health issues: study Yahoo Newsroom 8th Mar 2015
Foreign domestic workers in Singapore are susceptible to poor mental health, says a study by the Humanitarian Organisation for Migration Economics (HOME). In a study that is the first of its kind in Singapore, HOME surveyed 670 foreign domestic workers (FDWs) and gathered that two out of 10 workers have poor mental health. Results from the study indicated that half of the participants experienced some form of verbal abuse, mainly in the form of scolding or nagging.
Rehab therapists in demand in ageing Singapore Asia One 8th Mar 2015
As Singapore's population ages, it is seeing more people with age-related conditions that affect their ability to function. This has led to a rapid rise in demand for therapy services, say voluntary welfare organizations (VWOs), which run day-rehabilitation centres in the community. SPD, a group which represents the disabled, serves 550 people at its three rehab centres, up from 400 five years ago.
Eating rice with chopsticks lowers one's blood sugar level: Local study Sunday Times 5th Mar 2015
A local study jointly carried out by the Singapore Institute for Clinical Sciences, the National University of Singapore and the Clinical Nutrition Research Centre (CNRC) investigated the eating habits of 11 people, studying the differences between those who use chopsticks, spoons and hands to eat. They found that those who use chopsticks to eat white rice experienced significantly lower glucose response, meaning that they had lower rates of increase in their blood sugar levels, compared to those who used spoons and hands. CNRC Director Jeyakumar Henry emphasized that a slower rate of glucose response was more effective in reducing the risk of Type 2 diabetes.
ICT
Emerson opens SEA Customer Experience Centre in Singapore Digital News Asia 16th Mar 2015
Emerson Network Power, a business of Emerson, has announced the opening of a new state-of-the-art Customer Experience Centre in Singapore, which will serve as the regional hub for data centre planning and validation. Each customer will have a unique experience based on their data centre needs, supported by Emerson’s technical and service experts, the company said in a statement. The Customer Experience Centre reflects Emerson Network Power’s ongoing commitment to enable business-critical continuity in light of the increasingly evolving information communication and technology (ICT) landscape, it added.
Infrastructure
Singapore Air in talks over stake in Korea budget carrier Jeju Air Reuters 16th Mar 2015
Singapore Airlines Ltd (SIAL.SI) is in talks to buy a stake in South Korea's largest low-cost carrier Jeju Air Co Ltd, a deal that would be the flag carrier's first foray into North Asia where rising demand from Chinese passengers is fuelling growth. Singapore Airlines (SIA) and Jeju Air said on Tuesday they were in talks about a possible investment, but that nothing had been decided. A deal with Jeju would fit SIA's push to diversify away from its mainstay full-service business and increase exposure to high growth regions, after two consecutive years of falling profits amid high oil prices and intense competition.
Singapore Budget 2015: $740 million on Civic District revamp Straits Times 12th Mar 2015
A total of $740 million is being invested in the civic district, from mapping out a commemorative Jubilee Walk to mark the nation's 50th birthday, to refurbishing the forecourt of the Esplanade - Theatres On The Bay. "It's an important investment in our heritage, to remind us of the common history that unites us as a nation," said Minister for Culture, Community and Youth Lawrence Wong in Parliament on Thursday at the Committee of Supply debate. The Esplanade and the National Gallery Singapore - housed in the City Hall and former Supreme Court buildings and scheduled to open in November - are among several sites along the 8km Jubilee Walk, in the downtown and Marina Bay area, which will have trail markers to help passers-by appreciate their cultural and historical importance.
MND injects $450m to boost construction sector productivity Singapore Business Review 11th Mar 2015
The Ministry of National Development is setting aside another $450m for the second leg of the Construction Productivity and Capability Fund (CPCF). Speaking at the Committee of Supply Debate in Parliament yesterday, Senior Minister of State Lee Yi Shyan stated that the $450m initiative will focus on helping firms manufacture as many building parts as possible in a factory, as well as help companies move up the value chain by acquiring R&D, engineering and design capabilities. The $250m CPCF was first launched in 2010, and was topped up to $335m in 2014 to quicken the pace of re-structuring.
Singapore Budget 2015: Pasir Panjang expansion to be accelerated Straits Times 11th Mar 2015
Expansion plans for the Pasir Panjang container port are being accelerated to cater for growth at the Singapore port. Phases 3 and 4 will be fully operational by the end of 2017, two years ahead of the original plan, Transport Minister Lui Tuck Yew said during the debate on his ministry's budget. Last year, the port recorded a 4 per cent increase in container throughput to 33.9 million twenty-foot equivalent container units. And growth is expected to continue in tandem with regional demand, Mr Lui said. The Pasir Panjang expansion will add new handling capacity of 15 million container units per annum, increasing total capacity by more than 40 per cent to 50 million container units.
Singapore's 3rd desalination plant will be built at Tuas: MEWR Channel NewsAsia 11th Mar 2015
A third desalination plant will be constructed at Tuas to ensure Singapore’s water supply continues to be resilient, said Minister for the Environment and Water Resources Dr Vivian Balakrishnan in Parliament on Wednesday (Mar 11). In his Committee of Supply 2015 speech, Dr Balakrishnan pointed out the dry weather in recent weeks and the lower-than-average rainfall for January and February are “signals that we must prepare for a future where dry spells may become more prolonged due to climate change”. The Ministry of the Environment and Water Resources (MEWR) is also exploring the possibility of building more desalination plants to enhance water security and network resilience, he added.
Singapore Budget 2015: Govt ownership of telco networks will ensure resilience and security, says Minister Yaacob The Straits Times 10th Mar 2015
The Government's owning of key parts of a telco network is crucial to ensuring greater resilience and security, especially in Singapore's push to be a smart nation, said Dr Yaacob Ibrahim, Minister for Communications and Information. Speaking in Parliament on Tuesday, he said it is common for some components of a public-sector system to be partly owned by the Government and partly provided by the private sector. He was addressing concerns raised during the debate over his ministry's spending plans for the coming financial year.
Manufacturing
Singapore’s exports down 9.7% on-year in February 2015 Channel NewsAsia 17th Mar 2015
Non-oil domestic exports (NODX) in Singapore declined by 9.7 per cent on-year in February 2015 - the most in two years - reversing the 4.3 per cent on-year gain in January as shipments of electronics, chemicals and pharmaceuticals all fell, according to statistics released on Tuesday (Mar 17) by International Enterprise (IE) Singapore. The key reason for the decline was the Chinese New Year falling in February this year, compared to January in 2014, economists said.
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