Monday, March 31, 2014

Singapore's OCBC offers $4.95 billion for Wing Hang bank


Credit: Reuters/Edgar Su


Office workers pass a logo of Overseas-Chinese Banking Corp Ltd (OCBC) at the company's headquarters in Singapore February 14, 2014.


It is offering HK$125 a share to buy all shares of Wing Hang, according to a joint announcement, after having reached a deal with the bank's biggest shareholder to purchase a nearly 45 percent stake.


The offer price is below earlier expectations, with sources previously estimating the deal could be worth $5.3 billion.


The offer price translates to a book value of 1.77 times for Wing Hang Bank based on its book as of December 31.


The deal will give OCBC a much sought-after gateway to China and help bridge the gap with bigger Singapore rival DBS Group Holdings (DBSM.SI), which operates Hong Kong's fifth-biggest bank.


OCBC will purchase the stake from members of Wing Hang's founding Fung family, their affiliates and related family trusts, and BNY International Financing Corp.


Share trading in OCBC and Wing Hang was suspended on Friday ahead of the announcement.


($1 = 7.7571 Hong Kong Dollars)


(Reporting by Saeed Azhar; Editing by Richard Pullin)


OCBC Cycle Singapore: Cycling should not be a contact sport

Published on Mar 31, 2014 7:53 PM



On Sunday, I was one of the more than 10,000 participants at the OCBC Cycle Singapore event.


It was into its sixth year, but this was the first year I was taking part.


I only recently bought a hybrid bicycle to get some exercise on weekends. All my rides have been confined to the cycling paths along East Coast Parkway (ECP).


The paths are generally crowded on weekends, and it is fairly normal to have to dodge other cyclists, children and the occasional dog to avoid falling off my bike.


Related Stories TO READ THE FULL STORY...

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Sunday, March 30, 2014

Growing Maybank Singapore ops

SHIFTING FOCUS: Group wants to capitalise on the republic's huge corporate banking segment

MALAYAN Banking Bhd (Maybank), the fourth-largest banking group in the Asean region, aims to grow its business in Singapore by capitalising on the country's huge corporate banking segment.


Its president and chief executive officer Datuk Abdul Farid Alias said some 66 per cent of the banking business in Singapore comprises corporate financing, while the retail segment makes up the remaining.


'This is unlike in Malaysia, which has a 50:50 ratio of corporate and retail segments in the banking sector,' he said in an interview, here, recently.


'For the longest time, we have been managing our business in Singapore with 50-50 contribution from both segments. But things changed last year.'


Farid said Singapore's corporate banking sector continued to show strong growth last year despite new measures introduced by the government to cool down property prices, which affected the consumer banking segment.


This situation has led to Maybank shifting its focus and expanding in the corporate banking segment to some 60 per cent from 50 per cent previously.


'As a whole, our business in Singapore reflects the portfolio we see in other major banks in the country, which manage about twothirds of corporate financing and one-third of consumer financing.


'The beauty about Singapore is that the country responds very fast to market circumstances. Our team there, too, responded quickly to the new government measures and managed to address the situation successfully,' he added.


Following that, Farid said Maybank Singapore has also been receiving growing interest from corporate clients, citing its quick services, especially in providing effective business turnaround plans.


'For loans indication in Southeast Asia and Singapore, we are in the league table, which indicates that we are doing the right thing from the profitability perspective.'


Farid said the bank needs to look at its Singapore operations as a whole Maybank institution rather than just a commercial bank, which is one portion of the business.


He said Maybank Singapore, which is headed by CEO Datuk Lim Hong Tat, needs to strengthen all its businesses, including investment banking and insurance, as one large entity.


'If we can do this successfully, we can replicate the kind of returns we get in Malaysia,' he added.


Amazing Spider

Spider-Man launches Earth Hour 2014


An environmentally friendly Superhero? Just what the world needs.


Sony Pictures has rather cleverly laid claim to that marketing real estate, partnering Spider-Man up with global environmental group the World Wide Fund for Nature (WWF) and their Earth Hour campaign.


With the imminent release of the next chapter in the lucrative Spider-Man movie franchise, the cast flew into Singapore along with a bevy of international media to launch Earth Hour 2014, and the local fans went crazy for them.


Thousands crammed the Earth Hour event at Marina Bay in central Singapore to watch the lights go out, and for a taste of Hollywood, as Andrew Garfield (Spider-Man), Emma Stone (Gwen Stacey), Jamie Foxx (Electro) and director Marc Webb took to the stage to whip the gathered crowd into a frenzy for the cameras.


The cast of The Amazing Spider-Man 2 in Singapore (Getty)

Earlier, Garfield told 3 News the Earth Hour partnership was a natural fit for Spider-Man, and was overwhelmed at the level of excitement from the local fans.


After already fronting for the Chinese media in Beijing, there was no rest for the cast in Singapore. On arrival they hit the red carpet in one of the city's newest and most enormous shopping malls, crammed with thousands of frenzied fans on a mission to get a Spidey selfie.


Garfield worked the crowd like a natural, no longer the quiet shy boy who spoke to 3 News in Cancun Mexico four years previously, an up and coming actor who couldn't quite believe he'd just been given the role of his favourite superhero.


The always effortlessly stylish Emma Stone didn't disappoint in a gorgeous claret red Dior lace dress and charming the gathered fans and media alike.


Jamie Foxx was certainly a crowd favourite and ruled the roost at the post-carpet media conference.


The Oscar-winning Grammy-nominated actor and singer beat-boxed his way through his question/answer session, explaining how excited his young daughter had been when he told her he was going to be in the new Spider-Man movie, only to watch her face fall when he confirmed that no, he wasn't going to be playing Spider-Man.


The cast spent the rest of their Singapore tour buried in hotel rooms at The Marina Bay Sands Hotel for 2 days of interviews, before flying onto Japan for the next leg of their promotional tour.


The Amazing Spider-Man 2: The Rise of Electro opens in New Zealand in April.


3 News


Friday, March 28, 2014

Singapore is priciest city for expats but only 60th most expensive for locals ...


The high cost of living for expatriates here relative to other cities is due mainly to Singapore's strong currency, according to a study released on Friday.


While Singapore is the most expensive among 109 cities for expats, it ranks 60th on the list when the cost of living for only locals is measured, based on a survey by the Asian Competitiveness Institute.


The think tank, part of the Lee Kuan Yew School of Public Policy, releases an annual cost of living index which distinguishes between living costs for expats and those for average residents.


The Singapore dollar, which appreciated 25 per cent between 2005 and 2012, bumped up the cost of living here for expats, whose are usually paid in foreign currencies.


Singapore's Shockingly Nice Airport Just Won Best In The World Again

Photo courtesy of Singapore Changi AirportSingapore's Changi Airport was just named the world's best airport in 2014 by the World Airport Awards.


This is the second year that Changi took the top spot in Skytrax's World Airport Awards, the most prestigious airport award in the industry.


Skytrax evaluates over 400 airports around the world for service, check-in, transfers, shopping, security, immigration, and more.


It's no surprise that Changi took the No. 1 spot. The international transit hub has incredible amenities, like a butterfly garden, rooftop pool, movie theaters, hotels, spas, and showers, and even a four-story slide.


Last year, I visited the airport during a trip to Singapore and had a chance to explore. The bottom line: This is a place where you'll actually enjoy having a long layover.


Disclosure: Our trip to Singapore, including travel and lodging expenses, was sponsored by the Singapore Tourism Board.

Tuesday, March 25, 2014

Only in Singapore: No Songkran

SINGAPORE - It's hard to imagine this could happen anywhere but Singapore.


Authorities were supposedly appalled at advertisements for 'Asia's biggest water festival (outside Thailand)' and have told organisers there will be no water-throwing, no water pistols, no public drinking.



Last week's big plans now cancelled.


Instead, the Lion City's first Celebrate Songkran will be a more typical Singapore holiday.


The nation and any foreigners who wish to join can enjoy the 'Water Conservation and Water Heritage Exhibition in conjunction with national water agency PUB'.


The motto of the PUB, Singapore's official water agency, is 'Water for All', but that does not mean for throwing or shooting.


According to the Straits Times newspaper, it was appropriate to cancel the Songkran part of the Celebrate Songkran festival 'in view of the recent dry spell and current moves to cut back on water usage'.


The brief Straits Times story drew many quick comments.


Many continued the week-long criticism of Singapore for 'stealing' the Songkran celebration from Thailand. Several were critical of the government. 'So we are now telling the world our water producing capabilities are not as good as acclaimed?' was one.



Try buying & selling goods and properties 24/7 in our classifieds which has high purchasing power local & expatriate audience from within Thailand and around the world.


Lack of resources by Singapore Police to tackle increase in foreign workers


By Tiffany Gwee


According to Commission of Police Mr. Ng Joo Hee in Tuesday's Committee of Inquiry (COI) hearing, the Police lack the resources to tackle the increase in population and the potential increase in crime that might result from it.


During the hearing today, COI Chairman, Justice GP Selvam emphasised the importance of addressing the issue regarding the rising numbers of foreign workers and its potential problems that tag along with it. He mentioned that having 'large crowds of foreign workers' might end up in a 'clash' of interests that might 'escalate' into something more serious.


'This is what we are worried about,' Justice Selvam mentioned earlier today.


While Mr. Ng said that he understood Justice Selvam's concerns and worrries, he lament the fact that there simply is 'not enough resources' to help the Police Force tackle the ongoing challenges at hand. 'To have a truly visible police presence, we will require 100-150 police officers in each locality. We do not have these numbers.'


Low Police to Citizens Ratio

There are currently 8784 regular police officers and 3688 National Service Full-Time Policemen (PNSF) in Singapore. Statistically then, it is 1 police for every 614 citizens - an extremely low ratio compared to other cities and countries.


Mr. Ng gave the example of Hong Kong which has 28,261 police officers while having a population of 7.1 million residents , this gives a ratio of 1 police attending to 252 citizens living there. He also added how in other cities such as London, there is '2 to 3 times more police per resident compared to Singapore'.


In another example, Mr. Ng mentioned the vicinity of Bedok - where approximately a million reside - and how there are only 1000 police officers in that area. After factoring in the shifts and work timings, the ratio becomes 1 policeman to every 4000 citizens.


Low Growth but still Efficient

Given that the population had increased by 58% in the past years, the rise in the number of Police Officers (16%) is definitely not fast enough to cope with the population growth.


Despite the small number of Police Officers here in Singapore, Mr. Ng commended the efficiency of the Police. 'We still deliver outcomes that are the envy of the world.'


This comment was met with much agreement by the COI who then praised the Singapore Police to be first class police force in the world.


However, Mr Ng warned against citizens, visitors and residents taking the 'safety and security for granted' thinking that it is the 'natural state of affairs'.


Monday, March 24, 2014

Singapore's 1st Songkran water festival goes dry

Wet activities cancelled as part of national campaign to save water


Published on Mar 25, 2014 10:09 AM



There will be no water pistol fights, celebrity dunk stations, or really, any kind of water fun at Singapore's first Songkran water festival on April 12 and 13.


The organisers of Celebrate Songkran 2014 at the Padang have taken heed of the national campaign to conserve water and nixed the water-based activities.


Instead, they will host a Water Conservation and Water Heritage Exhibition in conjunction with national water agency PUB.


The organisers said this was appropriate in view of the recent dry spell and current moves to cut back on water usage.


Background story The Bangkok Post reported last Wednesday that the director of the surveillance bureau at Thailand's Ministry of Culture, Ms Yupa Taweewattanakijbaworn, had threatened to sue festival organisers for undermining the values of the Thai festival. TO READ THE FULL STORY...

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Training is the remedy to Singapore's failing iN2015 job targets

Singapore's Intelligent Nation 2015 (iN2015) has the objective of making the city-state the world leader in using infocomm technologies for economic and social benefit.


The 10-year plan laid out some challenging targets including: 'a 2-fold increase in the value-add of the infocomm industry to S$26 billion [US$17 billion]', and 'a 3-fold increase in infocomm export revenue to S$60 billion [US$39 billion]'.


Interim results show the plan is producing many beneficial outcomes. Overall infocomm revenue rose from S$38bn in 2005 to S$103bn in 2012, and export revenues almost quadrupled from S$22bn to S$78bn in the same period.


Some other targets, such as achieving 90% home broadband usage, were well on track just two years into the plan, with the Infocomm Development Authority (IDA) reporting household broadband penetration rates had already hit 83.9 percent in 2008.


Overall, there's a positive vibe about iN2015, and deservedly so since this is one of the few coordinated approaches of any government to derive real value from Infocomm. A quick glance at Singapore's standings in some respected competitiveness benchmarks bears this out.


World economy benchmarks: Source: IDA: http://ift.tt/1jznKDe


However, the ambitious target to create 80,000 jobs appears to be receding in the rear-view mirror. After seven years of the iN2015 program (2012 data is the latest available), it appears the initiative is well behind on this measure.


The Infocomm employment figures

According to information published by the Infocomm Development Authority of Singapore (IDA), infocomm employment stood at 111,400 in 2005, just before the vision was unveiled in 2006, with the latest available figures in 2012 pegging the number at 144,300, or an increase of 32,900.


The growth was strongest in the first three years from - 2006 to 2008 - with annual increases of 7.5 percent, 8.9 percent, and 6.6 percent. Growth has tapered off in the last few years, though, averaging around 1 percent in 2011 and 2012. With a shortfall of 47,100 jobs and just three years of the iN2015 program to run, it seems highly unlikely the target will be met.


Yet employment numbers alone may not be the best measure of the quality of the workforce and corresponding economic value. What if the 144,300 jobs in 2012 are mostly or all at a much higher knowledge level, and value, than the 111,400 in 2005? It's not possible to make this direct comparison based on available figures from IDA's Annual Survey of Infocomm Manpower because the categorization of jobs changed from 2005 to 2012. However, it is interesting that in 2005, the three most numerous jobs were technical support, programming & software design, and infocomm sales & marketing. In 2012, the most common jobs were IT operations roles, software/applications developer (excluding games), and CIO/CTO/CISO.


Another big impact on the initial jobs target is the way the infocomm industry changed since 2005. New technologies such as cloud computing, big data, mobile and consumerization of IT require specialized training to up-skill tech workers and help Singapore businesses take full advantage of the benefits of these new capabilities. Technologies like cloud could even have depressed the numbers of new jobs in situations where local businesses have used overseas cloud service providers.


Staying relevant in a fast moving field

The IDA's response has been to roll out a steady stream of schemes to help infocomm workers maintain or upgrade their job relevancy in a constantly changing field. In an email response, the IDA highlighted the Company-Led Training (CLT) programme introduced in 2011 as one such example. The programme seeks to equip new entrants with industry-specific skills through working with companies such as IBM, DBS Bank and Dimension Data, and has trained more than 150 young professionals to date.


To upgrade the skills of current infocomm professionals, IDA also launched various Centres of Attachment (COAs) with leading technology providers to equip IT professionals with in-depth skills in emerging areas through industry projects and industry attachments. These centres offer expert-level training opportunities for job roles such as data scientists and cloud architects, says the IDA.


Previous training initiatives reported by ZDNet include the Critical Infocomm Technology Resource Program (CITREP) and the Hybrid Skills Development Program. The former entails subsidizing training over four years for 16,000 trainees to undertake courses to deepen the capabilities of infocomm and non-infocomm professionals, while the latter is concerned with the development of specialized courses that saw some 2,000 professionals trained over a period of four years.


Making a difference with training

ZDNet contacted a number of IT companies in Singapore to get a better gauge of the on-the-ground benefits generated by the many training programme and industry tie-ups.


'It is very common for multi-national corporations to face difficulty in hiring local talents,' says Stephen McNulty, the managing director of the Asia Pacific and Japan region for Progress Software. 'We've been lucky enough to not face this challenge and in the past year, we've managed to hire both Singaporeans and [expatriate permanent residents] (PRs) to fill key roles in our Singapore office.' McNulty also told ZDNet the company has 100 percent local representation in its Singapore office.


While the emphasis on training appears to have produced sufficient workers for some businesses, others are apparently still having problems hiring the right people. Wong Onn Chee, the managing director of Singapore-based Infotect Security admits he faced challenges in hiring 'good IT folks' locally.


'Perhaps more are starting their own startups, which is a good thing too,' he quipped.


A practicing security professional with a string of certifications (CISSP, CISA, CISM) under his belt, Wong certainly has a vested interest in hiring local infocomm professionals. For one, it's a requirement for some government projects that his firm takes on


Clement Goh, the managing director for South Asia at datacenter operator Equinix also expressed his difficulty in hiring workers with the right skillset for datacenter operations. In this case, the problem could probably be tied to the diverse training that its employees are expected to have, which is rooted in both mechanical engineering and IT fields.


'When it comes to data center operators, we are a facility operator, so in a sense, yes we will need the generic field set of mechanical engineer for managing the infrastructure perspective, some sort of facility management field,' says Goh. '[The] datacenter is actually a cross between people who understand the difference between the IT needs, and the IT field.'


For now, Goh has taken matters into his own hands to resolve his manpower issue, hiring IT employees and training them in-house on the electrical and mechanical functions - and vice versa. Given the 24-by-7 operational requirements of datacenters, another barrier that Goh faces is finding workers willing to do shift work. Workers can expect to be compensated handsomely though; the overtime pay component means that such an employee can expect a 20 to 25 percent higher pay over similar roles on a 9-to-5 role.


Ultimately, the ever-changing needs of the infocomm industry only serve to illustrate how training is not an optional activity. Government is only one factor in building an appropriately skilled infocomm workforce. And while the IDA has continued to roll out relevant training programmes for existing infocomm workers and new entrants into the profession, the onus is also on workers to invest in keeping their skillsets relevant.


Rest time empowers for Filipino helpers in Singapore

Posted at 03/25/2014 12:18 AM | Updated as of 03/25/2014 12:18 AM


SINGAPORE - They gathered in pretty much the same fashion that those flash mobs would when readying to break into a sing-and-dance number in a public place.


Yet this is not your ordinary flash mob. These are mostly Filipino household workers on their once-weekly rest day gathering in a public square just off the Lucky Plaza mall along Orchard Road, a major shopping district in Singapore that houses shops ranging from Hermes to Giordano.


Filipinos have made a picnic ground of the sprawling pathways outside the Takashimaya Shopping Center that leads to the SMRT, Singapore's premier multi-modal public train. The dancing part is not to entertain the crowd, which would mostly gather round the Filipinos and take pictures; it seems more like Filipinos' way of entertaining themselves.


Many Filipinos who come here belong to the household sector, which comprises about 40 percent of the 160,000 migrant workers from the Philippines. The rest are in the professional and services sectors of restaurants, IT and banking.


Sundays are a respite. Apparently, the time is not just to rest, but to engage in sports, do volunteer work, and, yes - dance.


In a few hours, the Filipinos would break off and go their separate ways, bringing with them their packed dinners, soda cans and speaker for an MP3 which hours earlier blasted dance music only another Filipino would recognize from memories of karaoke bars or appliance shops along downtown Manila's Avenida or Santa Cruz streets.


Rose, 35 years old, danced to a few tunes before sitting down on a bench to catch her breath and watch her compatriots do a seemingly choreographed dance.


She came to the picnic in the jersey she wore from a volleyball match she went to earlier. Rose said she has been attending volleyball leagues for quite some time now.


She beamed with pride when she spoke of volleyball competitions she has participated in.


The native of the central Philippines island-province of Siquijor tried her luck in Singapore 11 years ago to earn more than the PhP 5,000 monthly salary (about US$111 in today's exchange rate) she was getting as a worker in a shop that does outdoor advertising signages.


'Amo ng kapatid ko ang nag-recruit sa akin... Hindi ko kilala ang employer ko rito (My sibling's employer recruited me... I did not know who was going to be my employer here),' Rose said.


Eleven years after, Rose has studied caregiving and a computer course. She said she was 'self-supporting' when she did this, meaning she went to school during her free time, and paid her way to school.



Jo, a 40-year-old worker who has been watching the dance from one of the benches, was luckier: one of her employers paid for her schooling, allowing her to get a Certificate of Proficiency in Baking from the Baking Industry Training Centre, a specialty school in Singapore.


She has been in the city-state for 22 years after coming here fresh out of high school from Pangasinan in the northern Philippines.


Now Jo 'gives back,' volunteering every other Sunday at the Humanitarian Organization for Migration Economics (HOME) - an anti-trafficking organization that helps migrant worker acquire skills that could open employment opportunities for them.


Jo teaches advance baking at HOME, but she does not collect fees for this.


The picnic ground off Lucky Plaza across the Takashimaya shopping center has become a center stage not just for dance moves but for stories similar to Jo and Rose's.


Jo and Rose say they entered sports, baking, took on additional courses, used their free time and available resources to empower themselves.


Someday they want to come back home to the Philippines.


Rose, when asked, hesitated on what she would do when she is able to come back home. Finally, she said she wants to put up her own business; does not matter what, as long as it is hers.


For Jo, the choice is clear. She will put up a bakery.


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Revamped Singapore Festival Stresses SE Asian Credentials


HONG KONG - Yuni Hadi, producer of Anthony Chen's breakout film 'Ilo Ilo' has been set as festival director of the Singapore International Film Festival ( SGIFF), which is being revived this December.


The latest, 25th iteration of the festival, is intended to put the focus clearly on South East Asia.


The SGIFF will run Dec. 4-14, 2014, as part of the 'Singapore Media Festival,' the new umbrella name for the existing events cluster which also combines the Asian Television Forum & Market, ScreenSingapore and Asian Television Awards.


The Asia TV Forum and ScreenSingapore will both run Dec. 9-12, 2014 and set up a dates clash with Asian exhibition and distribution convention CineAsia which will be held in Hong Kong Dec 9-11.


Hadi, who ran has managed or directed two previous editions of the old Singapore festival, heads a team that has been slightly revamped since the festival revival was announced late last year.


Film selection will be headed by Zhang Wenjie, another former director of the festival. He recently ran the National Museum of Singapore's Cinematheque and The Substation Moving Images. Karen Wai will head marketing.


'As a festival, we value the role that film has played in telling the stories that need to be told. SGIFF has always been at the forefront of discovering film talents from this region. This has created a wider Southeast Asian film community that has allowed us to share resources and exchange ideas. We are deeply invested in continuing this tradition of SGIFF,' said Hadi in a statement.


The festival's board is led by Mike Wiluan, CEO of Infinite Studios as chairman, with other board members including actress Janice Koh; NYU Tisch School of the Arts Asia's Michael Lim; Lee Chor Lin, CEO of Arts Festival Limited; Singapore Tourism Board's Lynette Pang; Sebastian Tan, MD of Shooting Gallery Asia; and Elim Chew, president of 77th Street. Shaw Soo Wei, the former executive director of the Hong Kong International Film Festival Society, who had been instrumental in relaunching the Singapore festival, also joins the board.


As previously announced, the SGIFF will also revive the 'Silver Screen Awards,' a competition section of the film festival focused on emerging talent. It will be open to Asian feature films and Southeast Asian & Singapore short films.


SGIFF will also set up an international advisory board led by film-maker Eric Khoo.


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Singapore's Tigerair orders Airbus jets worth $3.8 bln


Credit: Reuters/Mick Tsikas


A watertower painted with Tiger Airways logos is seen at Melbourne Airport July 7, 2011.


Tiger said an existing order for nine Airbus A320 aircraft, part of a larger order agreed in 2007, will now be cancelled. These aircraft were originally scheduled for delivery in 2014 and 2015.


The long-term fleet renewal and expansion comes as Tiger, which is about 40 percent-owned by Singapore Airlines Ltd (SIAL.SI), takes steps to try to prevent a third straight year of losses. In January it sold its Tigerair Philippines business to Cebu Pacific, the archipelago's biggest airline, cutting its losses in a market where a sharp increase in available seats pushed down ticket prices.


'We have re-calibrated our strategy and taken the necessary steps to re-position Tigerair,' Tiger chief executive Koay Peng Yen said in the company's statement. 'This deal effectively dissipates some concerns over a potential capacity overhang in the next couple of years.' [ID:nSNZ7bC2JW]


Tiger said the negotiated price for the new order was 'significantly lower' than the list price. The jets will be powered by engines from Pratt & Whitney.


(Reporting by Anshuman Daga; Editing by Kenneth Maxwell)


Tigerair Singapore puts on the brakes despite new order


Tigerair Singapore (which owns 40% of Tigerair Australia) has just placed the type of new jet order that an airline would when it can't afford to risk another dollar on fleet for the next two years.


It has cancelled a 2007 order for nine current series Airbus A320s for delivery this year and next, while ordering 37 A320 NEOs plus 13 options for delivery from 2018 to 2025.


These new technology engine versions of the A320 will use the Pratt & Whitney geared turbofan PW1100G-JM option.


The deal underlines signals that the low fare franchise model is under stress in Singapore from competitive pressure from Jetstar Asia, which has also 'paused' its expansion plans, and the Air Asia franchise.


The deal has no effect on Tigerair (Australia) which is 60% owned by Virgin Australia. While the two branches of Tigerair could engage in joint fleet ordering deals, this deal was struck by the Singapore division of Tigerair for its own purposes.


Under its terms Tigerair Singapore could also upgrade some of the jets to the larger A321 model.


Sunday, March 23, 2014

Singapore Tiger Airways orders Airbus jets valued at $3.8bil


SINGAPORE: Singapore's Tiger Airways Holdings Ltd has placed an order for 37 Airbus A320neo aircraft valued at US$3.8 billion at list prices, taking delivery of the planes from 2018 to 2025, the carrier said in a statement on Monday.


Tiger said an existing order for nine Airbus A320 aircraft, part of a larger order agreed in 2007, will now be cancelled. These aircraft were originally scheduled for delivery in 2014 and 2015.


The long-term fleet renewal and expansion comes as Tiger, which is about 40 percent-owned by Singapore Airlines Ltd, takes steps to try to prevent a third straight year of losses. In January it sold its Tigerair Philippines business to Cebu Pacific, the archipelago's biggest airline, cutting its losses in a market where a sharp increase in available seats pushed down ticket prices.


'We have re-calibrated our strategy and taken the necessary steps to re-position Tigerair,' Tiger chief executive Koay Peng Yen said in the company's statement. 'This deal effectively dissipates some concerns over a potential capacity overhang in the next couple of years.' [ID:nSNZ7bC2JW]


Tiger said the negotiated price for the new order was 'significantly lower' than the list price. The jets will be powered by engines from Pratt & Whitney.- Reuters


Temasek sets up $40m fund to help Singapore prepare for emergencies


Temasek Holdings is kickstarting events to mark its 40th year by setting up a $40 million fund to help Singapore prepare for and deal with difficult situations such as emergencies.


The Temasek Emergency Preparedness (TEP) fund will give money to programmes that support people in crises including environmental disasters such as haze, or trauma from accidents.


'In Temasek we believe that if you want to do well you have to be prepared all the time,' said Temasek Holdings chairman Lim Boon Heng at a media briefing last Friday.


'And so as we reflect on how we should celebrate our 40th anniversary, we thought that this is an area we should be looking at.'


Saturday, March 22, 2014

MFA 'concerned' over 1965 bomber lookalikes at expo


SINGAPORE'S Ministry of Foreign Affairs (MFA) has expressed concern and disappointment over an incident on Wednesday at an international defence event in Jakarta, where two Indonesian marines posed as the perpetrators of the MacDonald House bombing in 1965.


The uniformed duo wore badges stating Usman and Harun, after Osman Mohamed Ali and Harun Said, who were convicted and executed in Singapore in 1968 for the bombing that left three civilians dead and injured 33 others.


Indonesia's decision to name a new frigate the KRI Usman Harun, after the two marines who were made national heroes in 1968, was publicised last month. It drew protests from Singapore and strained bilateral ties.


'We are concerned and disappointed over the incident at the Jakarta International Defence Dialogue (JIDD) exhibition,' an MFA spokesman said in response to media queries. 'On learning of the incident, the SAF's delegation at the JIDD withdrew from the event and returned to Singapore.'


Officials at the Singapore Embassy in Jakarta also spoke with representatives from the Indonesian Foreign Ministry and the Indonesian military to express disappointment over the incident, MFA said, adding that it was at 'an international event to which Singapore was invited as a guest'.


The duo stood close to a model of the KRI Usman Harun that is scheduled to arrive later this year.


A report last month on the new vessel's name drew expressions of concern from several Singapore ministers, who contacted their Indonesian counterparts to say the move would reopen old wounds.


Singapore's Defence Minister Ng Eng Hen also told Parliament that the ship would not be allowed to call at Singapore or its naval bases, and neither would the Singapore Armed Forces sail alongside or take part in training exercises with the ship.


Indonesian officials, however, maintained that the duo had been declared national heroes, the navy traditionally named ships after the country's heroes, and that no ill will was intended.


On Thursday, the MFA spokesman said he was puzzled by comments by Indonesian Defence Minister Purnomo Yusgiantoro who, according to Indonesian media, said there was 'no problem' with the presence of the two marines at the JIDD.


'As minister Purnomo would be aware, Singapore's position on the naming of the Indonesian warship KRI Usman Harun was clearly laid out by Minister (Foreign Affairs) and Minister (Defence) in Parliament on Feb 18, 2014,' the spokesman said.


'The posing of the two marines at the JIDD did not reflect the spirit of Indonesian Foreign Minister Marty Natalegawa's comments of Feb 11, 2014, that no ill will or malice was intended towards Singapore.'


On Wednesday, Tempo.co reported that a number of officers took turns taking photos with the Usman and Harun lookalikes. The duo said they were ordered by superiors to pose as the men.


zakirh@sph.com.sg Get a copy of The Straits Times or go to straitstimes.com for more stories.

Singapore, Jakarta defuse row over marines as 'bombers'


Singapore (AFP) - Singapore and Indonesia on Friday moved to defuse a fresh diplomatic row over a 1965 bombing in the city-state, after the Indonesian navy dressed two marines as bombers at a defence exhibition.


The neighbours acted to mend relations after Singapore said it was 'concerned and disappointed' by the appearance at the event in Jakarta of two men dressed as Indonesian marines Usman Haji Mohamed Ali and Harun Said, who were executed for the bombing.


Singapore said a delegation from its armed forces had pulled out of the Jakarta International Defence Dialogue exhibition on Wednesday after learning of the stunt while diplomats in Jakarta spoke with officials 'to express disappointment'.


Indonesia had already outraged Singapore last month by naming a newly refurbished navy frigate 'Usman Harun' in honour of the marines, leading the ship to be banned from Singaporean ports and naval bases.


Three people were killed and 33 others injured in the bombing of MacDonald House in downtown Singapore in March 1965.


The attack was part of efforts by then-Indonesian president Sukarno to stage an armed confrontation against the newly formed federation of Malaysia, which included Singapore.


The two marines were executed in 1968 after being found guilty of carrying out the bombing at a trial.


Singapore Deputy Prime Minister Teo Chee Hean said in a statement Friday that Indonesian Coordinating Minister for Political, Legal and Security Affairs Djoko Suyanto had phoned him and 'expressed regret over the inappropriate conduct by the soldiers'.


Indonesian defence minister Purnomo Yusgiantoro also phoned his Singaporean counterpart Ng Eng Hen over the incident, according to the statement, while the Indonesian navy launched an investigation to find out who was responsible.


Both Teo and Coordinating Minister Suyanto 'expressed their common desire to continue working together to have good bilateral relations,' the statement said.


Indonesian navy spokesman Untung Suropati, speaking to AFP earlier Friday in Jakarta, described the two marines as 'heroes' who should serve as role models for young Indonesians.


'Usman and Harun are our heroes, and it was an international expo with a young generation of the military and students visiting,' he told AFP in Jakarta.


He added that when the navy designed the booth, they were not aware that Singapore would be attending the conference.


Relations between Singapore and Indonesia hit a low point in the late 1990s after the fall of former dictator Suharto, and his successor B.J. Habibie famously referred to the city-state as a 'little red dot' on the map.


But ties have improved considerably in recent years, and Indonesia is now Singapore's third-largest trading partner.


Friday, March 21, 2014

Paul Scholes takes selfie with Singapore players

The Manchester United legend shared an intimate moment with members of the Courts Young Lions team during his visit to Jalan Besar Stadium


Paul Scholes, who's in Singapore as part of Courts' 40th anniversary celebrations met with the media on Friday morning answering questions on his former club and Singapore football.


The Manchester United legend trained with S.League side Courts Young Lions, who are primarily made up of Singapore U-23 players, and participants from the Singapore Special Olympics team as well as students.


Young Lions coach, Aide Iskandar who attended the session shared an intimate moment his players and staff shared with the 39-year-old midfielder.


Aide posted on Instagram a selfie taken with Scholes.



'The boys had this idea of a group selfie with Paul Scholes!' read his comment on the photo.


Courts Young Lions' stars, Jordan Webb, Sherif El Masri, Shamil Sharif and 2013 Goal Singapore Football Awards' Young Player of the Year nominee Sahil Suhaimi are all pictured in the photo, along with Aide, and Courts CEO Terry O'Connor.


Singapore, Jakarta defuse row over marines as 'bombers'


Singapore (AFP) - Singapore and Indonesia on Friday moved to defuse a fresh diplomatic row over a 1965 bombing in the city-state, after the Indonesian navy dressed two marines as bombers at a defence exhibition.


The neighbours acted to mend relations after Singapore said it was 'concerned and disappointed' by the appearance at the event in Jakarta of two men dressed as Indonesian marines Usman Haji Mohamed Ali and Harun Said, who were executed for the bombing.


Singapore said a delegation from its armed forces had pulled out of the Jakarta International Defence Dialogue exhibition on Wednesday after learning of the stunt while diplomats in Jakarta spoke with officials 'to express disappointment'.


Indonesia had already outraged Singapore last month by naming a newly refurbished navy frigate 'Usman Harun' in honour of the marines, leading the ship to be banned from Singaporean ports and naval bases.


Three people were killed and 33 others injured in the bombing of MacDonald House in downtown Singapore in March 1965.


The attack was part of efforts by then-Indonesian president Sukarno to stage an armed confrontation against the newly formed federation of Malaysia, which included Singapore.


The two marines were executed in 1968 after being found guilty of carrying out the bombing at a trial.


Singapore Deputy Prime Minister Teo Chee Hean said in a statement Friday that Indonesian Coordinating Minister for Political, Legal and Security Affairs Djoko Suyanto had phoned him and 'expressed regret over the inappropriate conduct by the soldiers'.


Indonesian defence minister Purnomo Yusgiantoro also phoned his Singaporean counterpart Ng Eng Hen over the incident, according to the statement, while the Indonesian navy launched an investigation to find out who was responsible.


Both Teo and Coordinating Minister Suyanto 'expressed their common desire to continue working together to have good bilateral relations,' the statement said.


Indonesian navy spokesman Untung Suropati, speaking to AFP earlier Friday in Jakarta, described the two marines as 'heroes' who should serve as role models for young Indonesians.


'Usman and Harun are our heroes, and it was an international expo with a young generation of the military and students visiting,' he told AFP in Jakarta.


He added that when the navy designed the booth, they were not aware that Singapore would be attending the conference.


Relations between Singapore and Indonesia hit a low point in the late 1990s after the fall of former dictator Suharto, and his successor B.J. Habibie famously referred to the city-state as a 'little red dot' on the map.


But ties have improved considerably in recent years, and Indonesia is now Singapore's third-largest trading partner.


Singapore's new Chief of Army takes over post

POSTED: 21 Mar 2014 22:34

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Singapore's new Chief of Army took over his post on Friday. The Change of Command Parade was held at Pasir Laba Camp in Jurong on Friday afternoon.

SINGAPORE: Singapore's new Chief of Army took over his post on Friday.


The Change of Command Parade was held at Pasir Laba Camp in Jurong on Friday afternoon.


Brigadier-General Perry Lim Cheng Yeow, 41, took over the Army's symbol of Command from the outgoing chief Major-General Ravinder Singh.


Brigadier-General Lim joined the Singapore Armed Forces (SAF) in 1990.


He was awarded the SAF (Overseas) and President's Scholarships in 1991.


The Ministry of Defence said the change of command is part of the Army's continuing process of leadership renewal.


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Wednesday, March 19, 2014

Jetstar to dump Singapore to Auckland flights

Jetstar has ditched flights between Singapore and Auckland after struggling to make money on the route, reinforcing concerns that a tie up between Singapore Airlines and Air New Zealand will threaten competition.


Qantas' budget offshoot will stop flying on the route from July 21, and redeploy the twin-aisle A330s used on it to other routes including Melbourne-Tokyo and Brisbane-Bali.


The decision comes as Air New Zealand and Singapore Airlines seek approval from regulators to form an alliance on the route.


The airlines, which are two of the largest shareholders in Virgin Australia, have argued that the tie up will stimulate passenger traffic into and out of New Zealand, and lead to more low fares.


But it is understood the alliance was part of the thinking behind Jetstar's decision to pull off the route, realising it would have a better chance of making money elsewhere.


Singapore Airlines has said it plans to fly its A380 superjumbos on a daily basis between Singapore and Auckland if it gains approval to form an alliance with the Kiwi carrier.


Air New Zealand will also launch daily services between Auckland and the city-state using upgraded Boeing 777 aircraft, taking over five flights operated by Singapore Airlines and adding two more weekly flights.


Auckland Airport said Jetstar's decision confirmed concerns it had raised with regulators in New Zealand that the proposed alliance between Air New Zealand and Singapore Airlines could have ''detrimental impacts on the growth and promotion of competition in international air services''.


Subject to regulatory approval, Air New Zealand and Singapore Airlines have said they plan to eventually boost their existing capacity between New Zealand and Singapore by up to 30 per cent.


Jetstar began operating daily services between Singapore and Auckland three years before later reducing it to three flights a week.


''Unfortunately the route has not performed as we would have liked, and we have decided that the capacity could be put to better use on other routes,'' a spokesman said.


The flights are operated by Jetstar Airways, not its offshoot in Singapore which trades under the Jetstar Asia banner.


Qantas last month put the brakes on Jetstar Asia's expansion due to growing competition from incumbent airlines and new start ups, and the need to prioritise where it invest its capital. Qantas has a 49 per cent stake in Jetstar Asia.



Why Bosch, EDF and others are investing in Singapore


When it comes to sustainability ambitions, Singapore might take the prize. The island nation, which currently relies on neighboring Malaysia for its water, is aiming for water self-sufficiency by 2050, with 55% of its water needs met via recycled water and 25% from seawater desalination.


Moreover, its Sustainable Singapore Blueprint, which the government released in 2009, sets a target of certifying 80% of its buildings as green by 2030. And the sustainability push extends beyond buildings and civic services: Singapore's Nanyang Technological University is shooting for greenest eco-campus in the world, with a 35% reduction in energy, water and waste by 2020.


Chee Kiong Goh, executive director for cleantech and infrastructure at the Singapore Economic Development Board, said Singapore's national targets demonstrate its push towards environmental sustainability. 'Overcrowding is a big problem here and throughout Asia - Asian cities are growing at a rate of 37 million (residents) a year. Singapore's lack of land and natural resources also means the country must focus on sustainability,' Goh said.


He already sees progress. The Economist Intelligence Unit's Asian Green City Index (pdf) ranks Singapore at the top of its list. Meanwhile, global corporations - including Panasonic, Bosch, EDF and Veolia - are investing in helping Singapore reach its goals with innovative tech solutions.


'We are ahead at demonstrating new, urban solutions, therefore we want to attract and work with the world's best companies in the space,' Goh said.


Corporate partnerships

Singapore's corporate-driven sustainability projects extend to almost every aspect of society. In 2010, GlaxoSmithKline and Singapore's EDB formed a 10-year, $33m partnership for advancing green manufacturing in the pharmaceutical and fine chemical industries. Meanwhile, EDF and Veolia are helping Singapore's Housing & Development Board, the country's largest urban housing developer, to build out an urban modeling IT tool. Using 3-D visualization and simulation techniques, planners can simulate complex scenarios to determine which planning strategies to pursue. The tool, which is currently being used in the Jurong East residential district, assesses buildings' energy efficiency, air-conditioning systems, domestic waste collection and solar panel integration.


On the transportation front, Bosch Software Innovations recently concluded the first phase of its investigation into the technical and commercial viability of electric vehicles in Singapore. The island already has 111 charging stations, and Bosch hopes to expand into car sharing and commercial fleets, said Thomas Jakob, Bosch's managing director for the Asia Pacific region.


Singapore as a springboard

Singapore makes a sensible test bed for new products and ideas, many of which could be applied to other countries, experts say.


'The companies can move more quickly and try more radical approaches than they could in less resource-constrained markets, while also being ready when the market begins to demand these solutions,' said Daniel Vermeer, founder and director of Duke University's Center for Energy, Development and the Global Environment.


Manoj Singh, global chief operating officer of Deloitte Touche Tohmatsu, added that the lessons corporations learn from sustainability initiatives in Singapore will be highly transferrable elsewhere in Asia: 'The Singapore experience allows corporations to cut their teeth, test and actually implement the projects elsewhere, avoiding the same startup costs.'


Challenges ahead

Vermeer cautioned, however, that companies innovating in Singapore might only be buying an 'option on the future'. To ultimately succeed in emerging markets, they will still need to diversify their bets and learn the right lessons from their experiments. And they face the risk that the generally glacial pace of change in many of the big markets may not be sufficient to meet their needs.


'The global picture is mixed,' Vermeer said. 'Water solutions are growing in importance to address situations like California's profound drought, while Europe is rolling back their carbon reduction and renewable energy commitments due to a changing economic and energy natural gas landscape.'


Meanwhile, environmental challenges prevail in Singapore and throughout Asia.


China and Malaysia, among o ther Asian countries, have recently recorded dangerous levels of air pollution.


Population trends also place a strain on sustainability. A Siemens Report, cited by the Economist Intelligence Unit (pdf), estimates that Asian populations living in cities will exceed 50% by 2026. Many of these urban areas are already strained by economic growth and migration.


Asia's environmental challenges are acute, Singh said, adding that solving those problems will require formidable change. 'But change is a necessity and public-private partnerships will be an increasing focus and a corner suite agenda in the next 10 years - not just in Singapore, but [also in] other Asia centers where sustainability is a heavy focus,' he said.


Debbi McCullough is a writer, PR specialist and owner of Hanging Rock Media in Cary, North Carolina

Does Singapore deserve its 'miserable' tag? It does, sometimes


Freelance writer Charlotte Ashton's question about whether Singapore deserves its 'miserable' tag has predictably generated quite a furore. Predictable, because it happens almost every time an international publication portrays Singapore negatively. Predictable also, because the answer to her question is 'it depends'.


Attempting to measure social behaviour is always a tricky business, and perception and experience can be a fickle unit of measurement. We experience the good, the bad and the ugly - not always at the same time, but certainly at different times and different contexts in our daily journey through life. And perception is always influenced and informed by our personal experiences.I am not questioning Ms Ashton's unfortunate experiences.


But does Singapore deserve its 'miserable' tag? The honest answer is it does, sometimes.


Are Singaporeans miserable, emotionless, unkind or ungracious? Yes, sometimes.


Are we also a joyful, caring and compassionate people? Yes, sometimes.


Too much of our time is spent fussing over the wrong questions - questions that have no meaningful answers, or answers that change as predictably as night follows day. 'Why' may be a more interesting question to ask. 'Why does Singapore sometimes seem so miserable?' Or 'why aren't Singaporeans more actively considerate on public transport'. Ms Ashton does ask some of those questions, but those are difficult questions to answer. Certainly more complex than can be answered by the opinions of just three people.


'All we need is enough people whose actions are kind and considerate. Once we've crossed the tipping point, it'll become the norm - the same way kiasuism became the norm.'- Dr William Wan

The question of 'why' deserves much more attention. It is the question most of us are trying to answer when we comment on this story, or share it on our social platforms. We each have our own opinions on what makes us miserable, and our own opinions of what needs to change so we can be happier, or nicer, or simply less miserable.


For me, the 'why' question has only one meaningful answer. Why are we miserable? Simply, it's because our perception of our circumstances don't match up with our expectations. This leads to a more important question. Not 'why' but 'how'. How can we be happier, kinder, and more considerate?


At the Singapore Kindness Movement, this is a question we strive to answer every day. We don't always have answers, but our team - many of whom are young people - keeps trying. Their enthusiasm and passion is inspiring, and being part of that certainly makes me much less miserable.


How happy or unhappy we are is a combination of many factors that we have varying degrees of control over. We may not be able to change all the circumstances that make up our reality, but we can choose how we perceive them. For example, we might not be able to magically heal ourselves if we are ill, but we could decide if we would let illness get the better of us.


This doesn't mean we shouldn't also work to change our circumstances where we can. If we are unfairly criticised or bullied online, we can immediately improve our well-being by choosing to change our perception of our situation, but we can also improve our well-being, and that of others, over the long term by gradually changing the culture of the Internet.


We can also simply adjust our expectations. We can see the same principles at work in the oft-cited example of the MRT carriage. If you need a seat, and one isn't available, you can stand around and glare angrily at the people pretending to sleep, oblivious to your clear and urgent need. Or we can choose to change our circumstances by asking one of them for a seat. It doesn't even have to be a priority seat. You can do this with any seat!


We can say it's our competitive, kiasu nature - and therefore, our education system - that's to blame. But if we, and others, do this often enough, then the culture will change. We can be a kinder, more considerate society. All we need is enough people whose actions are kind and considerate. Once we've crossed the tipping point, it'll become the norm - the same way kiasuism became the norm, and the kampung spirit was left by the wayside.


But my favourite question remains. How will we achieve this? By trying, and then trying again. Ms Ashton's BBC Viewpoint piece, and the many others like it, is the first step. They expose our problems and cut them open to be discussed and examined vigorously. Whatever else she managed to achieve with her article, she certainly stirred debate. That is a good thing. And it becomes even better when we can graciously agree to disagree. And it is best when, as a result of this debate, we take ownership of the need to be kinder and more gracious, and we start doing something about it.


With ownership, action will be more likely to follow - one at a time - setting us on our way, regardless of where we are now, to becoming a nation of kindness.


Tuesday, March 18, 2014

'I honestly thought I was going to die'

She was returning home on Monday at 9:30pm from dinner with her friends, and as usual, took the path from the bus stop to the rear entrance of her condominium.This was the same path she has taken multiple times a week in the four years her family has lived there.That day was different from others though - mere steps away from the gate, 25-year-old Mei (not her real name) was suddenly attacked by a passing cyclist. She said he knocked her to the ground, straddled her hips and punched her head and face repeatedly while trying to stifle her screams.Mei, a freelance graphic designer, believes she was the victim of a rape attempt. Because her attacker is still at large, her family has requested that her real name not be published to prevent him from tracking them down.Mei said she wants to share her experience with Yahoo Singapore to warn women that the threat of a physical attack is real, and can happen here in Singapore. In fact, it happened on a short path located right beside the brightly-lit Ayer Rajah Expressway (AYE), that connects a bus stop and one of two back gates of her condominium.The man, she says, looked to be aged between his late 20s and early 30s. He was about 1.75m tall, dark-skinned and muscular, and had a sharp nose. He was clean shaven, had short, dark hair and was wearing a pale-coloured T-shirt and jeans or dark pants. He also did not smell of alcohol at all.'In other words, he looked fairly generic,' she said. 'His clothes were clean, he was not at all ragged. I wasn't scared of him (when we first passed each other),' She said she wasn't dressed provocatively either - in a long-sleeved black pullover with jeans.Taken by surpriseMei's attacker left behind his Aleoca brand bicycle, parked in the middle of the pavement. (Photo courtesy of Mei's ... He was cycling towards her after she alighted from a taxi by the road, and they made eye contact briefly as he passed. Mei walked on until she noticed an extra shadow apart from her own, and as she was turning around to see who it was, she received a punch on the right side of her head.As she went down, he pounced on her, pinning her to the ground, plastering his hand over her nose and mouth as he repeatedly slammed her head into the ground with his other hand so she could not breathe. As she screamed and thrashed around, biting the man's hands and fingers three times as he struggled to flip her facedown, the one thing she knew was that she must keep fighting him.'All I could do was just be really, really aggressive... to show him that he can't win me, he can't beat me. I'm going to keep fighting and I'm not going to let him have whatever he wants,' she said.She is still thankful that the man was unable to get to her clothes - two people who happened to live in the same condominium appeared on the path, and the sight of them drove the man away on foot, leaving his white bicycle parked in the middle of the path.'At some point I think he was getting desperate because he scratched me across my chest,' she said, adding that on the two or three occasions he successfully flipped her face down he would grope her breasts, almost in slow-motion. She struggled to turn herself back over each time, however, even scratching his face whenever she got the chance to.He spoke just once, shouting, 'Shut up, b***h!' as he tried to stifle her screams. His words surprised her, though, as she noted that his accent sounded local.At the same time, Mei said she was conscious of the fact that the man was trying to drag her into thick bushes nearby. Knowing she would for certain be hidden well there, she strained to move toward the highway instead, where she had a chance of being more visible.'It was pretty violent. I honestly thought I was going to die; he had his hand on me so long I couldn't breathe, and I was so tired (from the struggle),' she said. 'I just kept thinking about my family... the small little things; I just wanted life to go back to normal. Those things helped me fight this jerk off.'After he ran off, she rushed up to the two passersby, who escorted her and carried the man's Aleoca brand bicycle into the condominium grounds. She made calls to her family and the police, who came and took statements from her. She was then brought to the National University Hospital, where she was tested for signs of concussions or internal bleeding, and forensic investigators collected her fingernails and swabbed her face and mouth.


Mei's right side of her face was swollen, while she sustained more scratches on her shoulder. (Photos courtesy ... She came away from the scuffle with the right side of her face swollen and red, large bumps on both sides of her head, abrasions on her hands and elbows, bleeding from the lip and more scratches behind her left shoulder, which she discovered only after returning home from the hospital.Be more carefulMei attributes her 'success' in fighting off her attacker to the accounts of girls who were similarly attacked in the past and shared online.'I felt like the more I read these things, the less it seemed strange when it actually happened (to me),' she said. 'I was able to actually think about scratching his face or yelling, or trying to play dead... and I had decided (when I read those accounts) that I don't want to end up like the dead victims; I want to end up like those success stories, and I want to tell people about it.'She also stresses she is not ashamed about what happened to her - apart from remaining focused on ensuring that justice is served on her attacker, she wants women to be aware of the things they can do if the same should happen to them.


'Things like constantly struggling, bending his finger backwards, biting, yelling or scratching flesh off their faces if possible, or at least getting at their skin, or playing dead when you get too tired,' she shared, adding that she read these things on Facebook, Reddit and other sites where these accounts were shared.'I didn't know I could get attacked at 9:30pm outside my condo, I think many women don't know that. And I think they should start knowing that, because even though the pathway was very safe, and I've walked there at 2am before, this can happen,' she said.


One of her two older brothers said their family planned to take the case up to their Member of Parliament S Iswaran, in the hopes of getting lights and a security camera placed on the path.


'There's a lot of focus on HDB estates but much less on condominiums; that's why you have these unlit pathways,' he added.


Police on Tuesday evening confirmed Mei's report, and have classified it as an outrage of modesty. Investigations are ongoing.


Singapore's CapitaLand sells Australand stake for $849 million


Credit: Reuters/Rob Dawson


Men walk past a sign at a construction site just off on Singapore's main shopping boulevard Orchard Road November 17, 2009.


Australian property developer Stockland Corp (SGP.AX) said it bought a strategic 19.9 percent stake in Australand at an average price of A$3.78 per stapled security, a 3 percent discount to Australand's closing price of A$3.89 price on Tuesday.


Last year CapitaLand cut its stake in Australand to 39.1 percent from 59.1 percent at a loss to pursue 'new opportunities', despite an earlier strategic review that concluded Australand was a key investment.


Australand securities were placed on a trading halt on Wednesday.


($1 = 1.0950 Australian Dollars)


(Reporting by Byron Kaye and Lincoln Feast; Editing by Richard Pullin)


India clears path for Singapore Airlines' super jumbo A380


The double-decker Airbus A380 can seat as many as 800 passengers in an all-economy configuration. Photo: Bloomberg


Hyderabad/New Delhi: India has cleared an air services agreement with Singapore that will allow Singapore Airlines Ltd to fly its super jumbo Airbus A380 aircraft to India.


The double-decker A380 can seat as many as 800 passengers in an all-economy configuration.


Analysts say big international carriers will use this opportunity to tap the high-volume and price-sensitive Indian market. This will, however, affect national flag carrier and set back Delhi airport's dream of becoming an aviation hub.


'There were minor changes required to the air services agreement we had with Singapore. Those changes have been made,' said a government official who declined to be named.


A second official, who also declined to be named, confirmed the signing of the updated agreement between Singapore and Indian delegates at the Hyderabad air show, India Aviation, last week.


'SIA is keen to operate A380 services to India, and the inclusion of A380 into the India-Singapore bilateral agreement will allow us to do so. More details will be shared later,' said , general manager, India, Singapore Airlines.


'The operation of A380 will mean larger capacity, enabling us to carry a similar number of passengers while mounting fewer flights on what could be popular routes,' he added.


India in April 2013 increased the seat capacity for Singaporean airlines flying into the country by 10% to nearly 29,000 a week, but a ban on the A380 planes remained.


Singapore Airlines has almost exhausted its existing seats allotment and the first government official quoted above said the airline may look to replace some of its existing services with A380 flights.


In the new service agreement, Singapore Airlines has been permitted to fly the A380 to any Indian airport equipped to handle the plane.


At present, only Delhi, Mumbai, Hyderabad and Bangalore airports have the infrastructure to handle the jumbo A380s, the civil aviation ministry said in a statement on 27 January, announcing the lifting of the ban on these planes. The planes were banned because it would have hurt the commercial interests of Indian airlines.


The clause in the new agreement could be interpreted to mean that Chennai airport, which is nearly ready to handle A380 flights, can also be used for the service, besides other big airports like Cochin and Kolkata, said an Airports Authority of India (AAI) official, who declined to be named.


'The operation of A380s will help airports generate more revenue, give more comfortable and luxurious travel to passengers, liberalize the civil aviation milieu in India and boost the image of Indian civil aviation in the international market,' the ministry had said in its statement in January.


, Singapore Airlines and are interested in flying A380s to India, the ministry added.


No Indian carrier has an A380.


Emirates, which flew in its A380 to the Hyderabad air show, said it 'will be reviewing our existing operations, and look forward to serving Indian travellers with our flagship aircraft in the near future'.


'India is a volume market with high price elasticity. You want to be able to offer the lowest possible cost per seat product. (And the) A380 has the lowest possible cost per seat,' said an executive with a foreign airline, declining to be identified.


Airlines flying regular long-haul aircraft will be affected on routes where A380s are introduced, but this will be short-lived, said the executive, who has studied the impact of adding A380 planes in a particular sector or route.


'The yields or airfare on that sector did a nosedive to account for the extra seats A380 has but one-two years later, the market has absorbed the capacity and things are back to normal,' this executive said.


State-run Air India (AI) could be the most affected by the government's decision.


'AI's long haul flights (US/Australia) should remain relatively unaffected because those passengers are willing to pay a bit of a premium to fly direct in the interest of time. Most of the impact will be on Europe. As I said, price is key in the Indian market. If it is cheaper to fly via Middle East (which it certainly will be with an A380), passengers will choose that option,' the executive said.


Delhi airport's ambition to become a hub may be undermined if Singapore Airlines and other international carriers succeed in attracting Indian passengers with the A380 and fly them to other destinations via their own aviation hubs, like Singapore and Dubai. In the short term, airport operators in India can expect to charge airlines more for A380 landings because it is a heavier aircraft, but it would eventually reduce the scope for India to develop a hub airport of its own, said the executive said.


Monday, March 17, 2014

JFDI Accelerator Raises $2.1M To Help Singapore Become Southeast Asia's ...


Singapore's Joyful Frog Digital Incubator has raised $2.1 million from investors led by Infocomm Investments to pursue the city state's ambitions of becoming the startup hub for all of South East Asia.


Russia's SpinUp Partners and the Silicon Valley-based Fenox are among other investors participating in the latest round. The idea behind getting more overseas investors is to gain from their expertise and collaborate.


'In Russia, we have talented startup teams and capital seeking access to world markets. Singapore is the gateway to Asia for us and we look forward to working closely with JFDI.Asia into the future,' Sergey Gorokhov, Director and Chairman of the Board at SpinUp Partners said in a statement.


The funding will be used to incubate more startup ideas in the region, and is part of the accelerator's aim to raise around $4.7 million in total capital. The new funding will also be used to support the upcoming batch of startups later this month.


'Including two further runs of the program later in the year, 2014 should see JFDI add an additional 30-40 startups to its portfolio of alumni, with ambitions to expand that by a further 40-60 startups in 2015,' JFDI said.


Singapore has been pushing aggressively to become the Silicon Valley for South East Asia. In 2013, the country's technology sector attracted venture capital worth $1.71 billion from around $27.9 million in 2011, according to Asia Venture Capital Journal Research.


Since 2012, more than 60% of the 27 teams completing the JFDI programme have succeeded in raising an average S$650k ($513,000) per team, the accelerator said in a statement.


Over past two years, Singapore has attracted many startup teams from neighboring India, New Zealand and Australia, who have relocated to build their products, raise seed capital in the country. Digital health startup Klinify and inventory management startup TradeGecko are among examples of entrepreneurs who have shifted to the city state.


While still waiting for bigger exits, Singapore's startup ecosystem has made some progress in past year. The $200 million acquisition of Viki, a video streaming platform, by Rakuten in September 2013 was a sign that startups in Singapore were beginning to attract global acquirers.


'IIPL is helping to build a strong pipeline of Singapore-based, high growth and innovation driven tech startups that can bring about a disruptive change to our entrepreneurial ecosystem. The accelerator model is a key part of our strategy towards achieving this,' Infocomm Investments' Alex Lin said in a statement. These investments are part of Singapore's strategy to build 500 technology product startups in next five years.



Sunday, March 16, 2014

Singapore's NODX up 9.1% in Feb, beating expectations

POSTED: 17 Mar 2014 09:31

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Singapore's non-oil domestic exports (NODX) rose by 9.1 per cent on a year-on-year basis in February, slightly beating expectations, as stronger shipments of petrochemicals and phamaceuticals offset a drop in electronics.

SINGAPORE: Singapore's non-oil domestic exports (NODX) rose by 9.1 per cent on a year-on-year basis in February, slightly beating expectations, as stronger shipments of petrochemicals and phamaceuticals offset a drop in electronics.


Electronic NODX contracted by 3.7 per cent year-on-year in February 2014, after the 17.0 per cent decline in the previous month, International Enterprises Singapore said in a statement.But domestic exports of chemicals soared 49.3 per cent year-on-year, while pharmaceuticals gained 21.8 per cent.A survey by Reuters showed that economists were expecting a 7.8 per cent rise in February NODX from a year earlier.


Measured month-on-month, Singapore NODX expanded by 7.2 per cent after January's 5.0 per cent contraction.


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COMMENT: Why Singapore is so much more than 'misery city'

Just how compassionate are Singaporeans? (Yahoo photo)


Kirsten Han is a Singaporean blogger, journalist and filmmaker. She is also involved in the We Believe in Second Chances campaign for the abolishment of the death penalty. A social media junkie, she tweets at @kixes. The views expressed are her own.


When Charlotte Ashton and her husband moved to Singapore, a friend posted a link on her Facebook wall to a survey revealing Singaporeans to be one of the least positive people in the world. 'Good luck in misery city!' he said.


Ashton's experience in Singapore has now gone on to be a viral op-ed on the BBC's website entitled ' Does Singapore deserve its 'miserable' tag?'. Singaporeans are passing it from one social media profile to another, arguing over how awful it really is to live in Singapore. Some have leapt on the piece as an opportunity to once again rehash complaints about the city, while others insist that Ashton has made it all up.


I don't doubt Ashton's account of crouching on the floor of an MRT train with no one to help her. Nor do I have any interest in participating in any discussion about whether her pregnancy was showing at the time (and even less interest in commenting on how ' chio ' she might be), thus justifying the lack of concern. It was bad that no one helped a woman who was visibly ill, or at least offered her a seat. Someone should have.


Yet the article remains unfortunately superficial throughout. Ashton is of course entitled to share her experience, but there is much more to be looked at in an examination of Singapore as 'misery city'. As someone who has spent the majority of her life here - and admittedly spent quite a lot of that time complaining or criticising this place - reading it left me with a sinking sense that the complexity, nuance and depth of this country had been neglected in favour of a quick-and-easy read.


Seyward Darby recently wrote an excellent article on why the media needs to stop referring to things in terms of ranks. She focused mainly on the reporting of LGBT issues and/or women's rights issues - who hasn't seen the 'Uganda is the worst place to be gay' or 'Afghanistan is the worst place to be a woman' articles? - but her points can also be applied to other forms of ranking.


'First, saying a country is the worst for a particular group of people assumes that pretty much everyone in that group has the same lived experiences,' she writes. 'Problem being, people's circumstances, as we know, vary widely based on factors like income, education, ethnicity, and whether they live in rural or urban areas. ... In short, it is dehumanizing and ultimately unproductive when the media conflate people's experiences under national banners of 'good' or 'bad.''


It highlights my problem with the media scrambling to report on Singapore in terms of our ranking in the world. We're portrayed as the 'least positive', the 'most expensive', the 'most emotionless', on and on and on as one survey or another is trotted out to plague journalists' email inbox with media releases.


(Note: I myself have fallen victim to such reporting, doing fast-writes of such press releases for international publications eager for bite-sized nuggets of information on a country their readers probably know little about.)


But such framing tells us little about what it's actually like to live in Singapore, in the same way that Ashton's anecdotal experience sheds little light on this city. What's the use of wasting our energies arguing if we're the most miserable or not, when there are real problems to be addressed?


I don't think Ashton's wrong; there is a compassion deficit in Singapore. Yet this is not something that can be measured merely in the number of times someone gives up their seat on the MRT, awful though some people on public transport might be.


The compassion deficit should also be discussed in relation to more structural or institutionalised issues.


For example, Singapore's abhorrence of anything that might sound remotely like 'welfare' needs to be looked at. Underneath it lies assumptions about poverty, class and even race that demonstrate a worrying lack of empathy, compassion or even sympathy for others in situations different from one's own.


Our stubborn mantra of 'meritocracy' has not helped, either. It is why we would blame homeless families - incidentally, many of them probably camp near the 'free public BBQ pits of Singapore's beautifully-kept parks' Ashton so loves - for being homeless, rather than see poverty as an issue that needs to be addressed at a structural level.


Like any other country or city, Singapore cannot be simply described in labels that gloss over the diversity of experiences present on this small island. These labels, and the anecdotal accounts that feed into them, rarely offer any real insight into the complexity of our lives, nor do they help us better understand the issues that we face here.


Related articleBBC commentary sparks debate on compassion in Singapore

Saturday, March 15, 2014

Missing MH370: Dilemma of giving out timely and accurate information


The authorities managing a crisis wrestle with the dilemma of giving out timely information to families - and the media - desperate for any news while making sure the information is accurate.


This is the challenge facing the Malaysian authorities who are still trying to locate the Boeing 777-200 aircraft that disappeared last Saturday and who have come under fire for giving out conflicting reports in some instances.


Said crisis management expert Rick Clements: 'The aircraft is missing and it has not been found. There is really nothing much the airline can say. Yet it is important that any information that is given must be absolutely accurate and it should come from the official government source.'


Mr Clements headed Singapore Airlines' public relations team during the crashes of a SilkAir flight in 1997 and Singapore Airlines in 2000. Social media makes matters worse now, he said.


'There are always rumours and speculation but in MI185 and SQ006 there was no social media.


'Here, you have speculation from everywhere spreading all over the place like wildfire. Families hear these rumours and they want the airline to comment and, of course, the airline cannot if it is not sure of the facts.'


Without a crash site or even clear leads on what happened to MH370, the Malaysian authorities, including the civil aviation department and military investigators, appear increasingly beleaguered.


Mr Clements, who now runs his own strategic and crisis communications consultancy, said: 'In any air tragedy, the primary focus must be family care and taking care of the survivors, if any. This is mainly the responsibility of the airline.'


Giving out timely and consistent information is also critical.


On both these fronts, SIA did better in 2000 than it did in 1997, said experts.


When SilkAir Flight MI185 plunged into Palembang's Musi River in December 1997, killing all 104 on board, families of victims waited 17 hours before they were taken to the crash site.


Three years later when a Singapore Airlines (SIA) jet crashed in Taipei, arrangements to fly the families were made in less than 12 hours.


That tragedy claimed 82 lives and put many more passengers and crew in hospital, some with extensive burns and injuries.


Apart from anticipating families' needs better, the airline also had a more savvy media response plan.


Less than three hours after SQ006 bound for Los Angeles crashed just before take-off in Taipei, SIA gave its first media briefing in Changi Airport, at 2am.


By 7am, the fourth briefing had started. Four more were conducted before the day ended.


In 1997, the first briefing for relatives was conducted at 9.30pm, more than five hours after the crash.


The next morning, then Communications Minister Mah Bow Tan gave a press briefing.


Yesterday, SIA declined to comment on the lessons learnt in the SilkAir crash that were applied in Taipei beyond saying that in an emergency, a senior management team, comprising all division heads, would be activated.


The department in charge of crisis management conducts regular exercises to ensure everyone is familiar with activation procedures, and roles and responsibilities.


In Singapore, search and rescue operations for air mishaps are provided by the Civil Aviation Authority of Singapore in collaboration with the defence and health ministries, Maritime and Port Authority of Singapore, the Meteorological Service of Singapore and the Singapore Police Force, among other government and relevant bodies.


Search and rescue operations are conducted through the Singapore Rescue Coordination Centre, which is located at the Singapore Air Traffic Control Centre.


Every country should have such a set-up, experts say.


But with MH370 still missing, managing the growing frustration among the family members and loved ones of those on board is a challenge.


As long as no clues surface, the ordeal will only continue for affected families and the airline, observers said.


karam@sph.com.sg Get a copy of The Straits Times or go to straitstimes.com for more stories.

Is there a 'massive compassion deficit' in Singapore?


Freelance writer and self-described food lover Charlotte Ashton jumped at the chance to relocate from London to Singapore last year, she says in the biography section of her website.


The Oxford University graduate and former BBC reporter and her husband were happy here until one day, in her 10th week of pregnancy, she felt nauseous while taking the train to work and ended up crouching for 15 minutes because no one offered her a seat.


'For the first time, Singapore had made me feel unhappy. I had been vulnerable - completely reliant on the kindness of strangers. Singaporeans, I felt, had let me down,' she wrote.


Recounting the incident in a BBC Viewpoint piece, she concluded that Singapore suffers from a 'massive compassion deficit'.


Friday, March 14, 2014

MH370: Singapore deploys another plane to help in search operations


Singapore has deployed one more aircraft to help with the ongoing search for the missing Malaysian Airlines plane, MH370. The Republic of Singapore Air Force sent a maritime patrol aircraft with six personnel to scour the seas in the Straits of Malacca. The latest move came after Malaysian authorities widened the search to that area earlier this week.


Here is a statement from Minister for Defence Dr Ng Eng Hen: Get the full story from The Straits Times.

Minister for Defence Dr Ng Eng Hen has written to Malaysian Defence Minister Dato' Seri Hishammuddin Hussein and Chinese Minister of National Defense General Chang Wanquan to convey Singapore's sympathies and reiterate support for the search-and-locate (SAL) operation for the missing Beijing-bound Malaysian Airlines flight MH370.


At a doorstop with local media today, Dr Ng said: 'I know it must be very difficult for [the families] that despite the search efforts the missing plane has not been located after seven days since it's gone missing. Singapore is not giving up.


'As part of the international efforts, I can say that our servicemen from the Singapore Armed Forces (SAF) are actively looking for the missing plane and we are not giving up.'


The SAF has deployed additional assistance in the form of a Republic of Singapore Air Force (RSAF) Fokker-50 Maritime Patrol Aircraft (F-50 MPA) to Butterworth Air Base, Malaysia, to assist in the SAL operation in the Malacca Strait.


Since 8 March 2014, the SAF has supported the SAL operation in the South China Sea with C-130 aircraft, a Formidable-class frigate (RSS Steadfast) with a Sikorsky S-70B naval helicopter on board, a Victory-class missile corvette (RSS Vigour) as well as a submarine support and rescue vessel with divers on board.


Viewpoint: Does Singapore deserve its 'miserable' tag?

Singapore's reputation as a wealthy, aspirational and hi-tech country ensures it attracts a great deal of foreign talent - so why is it labelled the world's least positive country?


It was Christmas, but as my husband and I waited for our luggage in the shiny arrivals hall of Changi airport, the internet delivered tidings of no joy.


'Check this out,' posted one friend on my Facebook wall, with a link to a survey of 148 countries in which Singaporeans were revealed to be the least positive people on earth.


At the bottom of the happy pile along with Iraqis, Armenians and Serbians. 'Good luck in misery city!' he wrote.


Over the next few months a happiness battle kicked off around us. Singapore's politicians reinforced their commitment to well-being and Starhub - a mobile network provider - launched an advertising campaign called 'happiness everywhere', full of smiling Singaporeans dancing to plinky-plonky guitar music.


On the other side there emerged, mostly on the internet, an army of discontented souls who applauded the survey for validating their sense that life just seems to be getting harder and more expensive as Singapore gets richer.


Personally, I chose to ignore the public hyperbole and concentrate on what I encountered personally. And sure enough we have found plenty of apparent happiness.


In the free public BBQ pits of Singapore's beautifully-kept parks, for example - always full of jolly families and groups of friends enjoying an evening in the tropical heat over a cool-box of beer.


And in the broad, toothless grin of the septuagenarian vendor at our local food court, who served me my daily dose of delicious, fresh pineapple juice.


And at dinners with our Singaporean friends who did not seem to moan anymore than the rest of us - sure they are battling soaring property prices and the tedium of the corporate ladder, but coming from London that was hardly unfamiliar.


We got on with life on the immaculate island, where social housing estates look like spotless toy towns, crime is pretty much non-existent and you can get a delicious bowl of noodles for $3 (£1.50). If we were living in the misery capital of the world it certainly was not affecting our own sense of happiness.


From Our Own Correspondent Insight and analysis from BBC correspondents, journalists and writers from around the worldBroadcast on Radio 4 and BBC World Service

Until I got pregnant.


Ten weeks of morning sickness ensued, turning my daily commute into a 45-minute gauntlet.


One morning the nausea finally got the better of me just as I had stepped onto a packed train. Worried I was going to faint, I crouched to the floor, holding my head in my hands.


And so I remained, completely ignored, for the full 15 minutes it took to reach my station. Nobody offered me seat or asked me if I was okay.


For the first time Singapore had made me feel unhappy. I had been vulnerable - completely reliant on the kindness of strangers. Singaporeans, I felt, had let me down.


As I sat recovering on the platform I wondered if this was part of the story behind those Gallup poll results. By this time a follow-up to the original survey had been published and according to the figures, Singapore had apparently cheered up quite a lot.


But all I could see was a massive compassion deficit. Or were my fellow passengers that day just unusually uncaring?


'Oh no, I am not surprised at all,' said a Singaporean friend later that day. 'My sister is seven months pregnant and she fell down a packed escalator the other day and had to crawl to the nearest railing to heave herself up. Nobody helped.'


Agree or disagree? Tell us using the form at the bottom of the page We will publish a selection of views

Another Singaporean friend was equally unsurprised. 'I slipped down a drain last year and cut my leg,' she said. 'It was bleeding badly but nobody stopped to help. Perhaps they were all in a rush.'


Our friend Marcus offered deeper analysis over brunch in a trendy retro cafe. That is not his real name by the way - in this authoritarian democracy, the majority of people are very reluctant to go on the record with anything remotely negative about Singapore.


And negative Marcus is: 'We are programmed to think only about ourselves,' he exclaimed. 'The only thing that matters is money - helping people is not important.'


Marcus is Chinese Singaporean but was educated in Canada. After five years back home he is desperate to leave again, because, he says, Singapore makes him unhappy too.


'In Canada people were helpful and friendly and they respect each other regardless of whether you are a manager or a bus driver.


'The problem here is that we measure everything in dollar bills - personal identity, self-respect, happiness, your sense of worth - it is all linked to how much money you have. But only the top few percent earn serious cash - so everyone else feels worthless and apathetic.'


We went on to discuss the numerous theories about whether it is materialism making Singaporeans unhappy or uncaring - or the fiercely competitive education system, or Confucianism, or the government's historic emphasis on economic growth above all else.


More misery on the Magazine

The debate certainly has not gone away despite the latest set of survey results.


Happily my morning sickness has passed, but despite becoming visibly pregnant, it was still rare for anyone to offer me a seat on the packed commuter train without my having to ask first.


I do not know if I would have had a better time in London, but in the Singaporean rat race you are certainly on your own. An unhappy conclusion, I am afraid, from misery city.


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Thursday, March 13, 2014

MH370: Singapore deploys another plane to help in search operations

Published on Mar 14, 2014



Singapore is deploying one more aircraft to help with the search of the missing Malaysian Airlines plane, MH370. The Republic of Singapore Air Force will send a maritime patrol aircraft with six personnel to scour the seas in the Straits of Malacca. This, after Malaysian authorities widened the search to that area.


Defence Minister Ng Eng Hen said the Malaysians have accepted the additional help, and the plane will take off on Friday afternoon.


The plane has a longer range and can cover greater distances; it also has better radar capabilities. It is usually used for daily anti-piracy patrols along the Straits of Malacca.


Dr Ng also pledged that Singapore will continue to help with the search efforts.


Singapore was one of the first countries to offer assistance when the plane went missing on Saturday. It has so far sent two military transport planes, a naval helicopter, two warships and a submarine support and rescue vessel.


Temasek offers to buy Singapore's Olam, values firm at $4.3 billion


Credit: Reuters/Edgar Su


A man walks past a logo of Olam International Limited at its office in Singapore November 29, 2012.


The deal will be done through a Temasek unit, Breedens Investments. Breedens, along with Olam's family share holders, members of its executive committee, and Arandda Investments, another Temasek unit, already hold around 52.5 percent of Olam shares.


'Breedens wishes to increase its shareholding to support Olam's strategy and growth plans for the long term,' it said in a statement.


The offer price of S$2.23 per share represents an 11.8 percent premium over Olam's last traded price.


Breedens is not planning at this point to take the company private, intending to Olam remain listed in Singapore unless it becomes in breach of the exchange's requirement that at least 10 percent of shares be freely floated.


Breedens is also offering to buy Olam's outstanding convertible bonds and warrants.


Olam, which is one of the world's biggest coffee and rice traders, had to be propped up by Temasek after the trading firm came under attack from short-seller Muddy Waters in late 2012 for its accounting practices.


The company's shares plunged as much as 22 percent in the weeks after the allegations. Olam denied the short-seller's claims, but drew up a plan to cut its capital spending and debt levels in order to address its investors' concerns.


Its shares have since recovered and were last at S$1.995, their highest level since October 2012, before trading was suspended on Thursday morning, pending an announcement. The shares have climbed 25 percent in the past two months.


Temasek subscribed to a $712.5 million cash call in January 2013 to bolster the firm's finances.


Last month, Olam reported a 12.5 percent drop in second-quarter profit on weaker sales and commodity prices.


Credit Suisse Group AG (CSGN.VX), DBS Group Holdings Limited (DBSM.SI) and United Overseas Bank Ltd (UOBH.SI) are acting as advisors on the deal.


($1 = 1.2661 Singapore Dollars)


(Reporting by Rachel Armstrong; Editing by Edwina Gibbs)