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News Snippets
2009
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Singapore’s GDP expected to contract by 6.0 to 9.0 per cent in
2009
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MAS issues guidelines on fair dealing
2008
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Singapore Workforce 2008 |
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There were 1,928,300 residents in the
labour force in June 2008, comprising 1,093,200 males and 835,100
females. The resident labour force grew by 2.7%[1] from 2007 to 2008
(June periods), up from 2.0% in the preceding year. This was driven
by both growth in the resident population and female labour force
participation rate. |
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Despite the more challenging economic
outlook, the employment rate for the resident population aged 25 to
64 rose to a new high of 77.0% in 2008 from 76.5% in 2007. The
improvement mainly resulted from more females who were previously
outside the labour force becoming employed... |
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More..... |
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MTI Forecasts Growth of -1.0–2.0% for Singapore in
2009 |
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In view of the continued deterioration in
the outlook for external and regional demand, MTI has moderated the GDP
growth forecast for 2008 further downwards to around 2.5%. |
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The economic downturn is expected to
last for several quarters, well into 2009... |
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More..... |
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IR updates in Parliament |
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Ms Olsen has also asked when the
projected GDP boost would be achieved and if the IRs’ business will
be affected by the financial turmoil. It would be fair to say that
due to the global financial crisis and the slowdown already evident
in our tourism sector, there may be some impact on the IRs’ business
when they open. It is, however, premature to try to ascertain in
quantitative terms what the exact impact will be, given the volatile
economic conditions. |
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What we do know is that both IRs remain
optimistic that their product offerings will draw visitors from
their target market segments. On the Government’s part, the STB will
continue to work closely with both IRs and monitor the situation. |
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More..... |
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Bank guard foils robbery attempt at UOB in City Plaza |
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On 10 Nov 08 at about 3.30pm, Security
Officer Lance Corporal (LCP) Rosli Bin Mohd Sa’ad was on duty at a bank
at a shopping centre along Geylang Rd when he spotted a Malay man
behaving suspiciously in the banking hall. |
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Sensing that something was amiss, LCP Rosli
decided to conduct a check on the subject. When confronted, the subject
became agitated and a scuffle ensued that attracted the attention of
some of the bank staff, who came forward to assist in subduing the Malay
man. |
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More..... |
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Singapore’s economy is strong |
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This downturn is just beginning. No one can
say how long it will last and how deep the downturn will be. Recovery
will come when the property market in America reaches bottom and begins
to rise. That may not be for many months or even years. |
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Fortunately, in Singapore, having
learned from the 1997/98 financial crisis, we have not allowed a
speculative rise in residential property prices. Few citizens have
bought homes that they cannot afford to service their instalments on
their mortgages. High price condominiums and office properties have
declined in prices... |
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More..... |
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Employment Situation in Third Quarter 2008 |
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Preliminary estimates show that employment
grew by 57,800 in the third quarter this year. This was lower than the
gains of 71,400 in the preceding quarter and 58,600 in the third quarter
of 2007... |
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Preliminary estimates show that 2,000
workers were retrenched in the third quarter of 2008, up from 1,798
in the previous quarter and 1,827 in the third quarter of 2007... |
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More..... |
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Advance GDP estimates for 4th quarter 2007 |
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Growth of the Singapore economy moderated in
the fourth quarter of 2007. Advance estimates[1] show that real gross
domestic product (GDP) rose by 6.0 per cent on a year-on-year basis in
the fourth quarter, following a 9.0 per cent gain in the previous
quarter... |
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More..... |
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2007
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Singapore's ultra-high speed digital highway ready by
2015 |
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The Next Gen NBN is expected to be available
nationwide by 2015, although consumers can begin to look forward to a
range of new and exciting Next Gen Services such as high-definition
video conferencing, telemedicine, Grid Computing-on-Demand, security and
immersive learning applications on the Next Gen NBN from about 2010... |
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More..... |
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PrimaDeli allowed to resume factory operations |
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The outbreak of Salmonellosis linked to the
Prima Deli factory has ceased. There have been no new cases with
reported onset of illness following the factory closure on 4 Dec 07... |
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AVA will allow the company to resume its
factory operations in two stages under supervision. |
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With immediate effect, Prima Deli will
be allowed to produce food products that undergo high heat treatment
such as baked products and frozen dough to be baked in the outlets.
If there is no operational hygiene deficiency, full factory
operation may be resumed to produce the other products containing
ingredients not subjected to heat treatment such as cakes with
toppings... |
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More..... |
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Singapore fund management industry has done well in
last few years |
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The trading of OTC commodity derivatives has
also flourished over the years. Last year, total trading volume amounted
to approximately US$600 billion, accounting for almost 8% of global
trades. |
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Singapore is also home to the largest REIT
market in Asia ex-Japan with a total market capitalization in the region
of USD$20 billion. |
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The Merrill Lynch report also noted an
interesting investment trend for HNWIs in Singapore. On the average,
alternative investments (including structured products) account for
almost 10% of total portfolio allocation for 2006... |
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More..... |
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Singapore Labour Market 3rd quarter 2007 |
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Total employment expanded by 58,600 in Q3
07, up substantially from the increase of 43,000 in Q3 06, making it the
second highest quarterly increase after the 64,400 recorded in Q2 07... |
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1,827 workers were retrenched in Q3 07, an
improvement from 2,472 in Q3 06 and 1,918 in Q2 07[2]. This brings the
total number retrenched in the first nine months of 2007 to 5,709, much
lower than 9,388 in the same period last year... |
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More..... |
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Comfort and CityCab taxi fares to go up on 17 Dec 2007 |
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Basic Fare |
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Current |
Revised |
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Flag Down: $2.50 for 1st km
1km to 10km: $0.10 for every 210m
Above 10km: $0.10 for every 175m
Waiting time: $0.10 for every 25sec |
Flag Down: $2.80 for 1st km
1km to 10km: $0.20 for every 385m
Above 10km: $0.20 for every 330m
Waiting time: $0.20 for every 45sec |
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More..... |
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Taxi enforcement update |
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In enforcement operations conducted over a
13 day period, 14 errant taxi drivers were nabbed at several spots such
as Boat Quay, CHIJMES, Clarke Quay, Mustafa Centre, Orchard Towers and
Shenton Way. |
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Of these, 6 taxi drivers were found
overcharging and 8 were caught for refusing to convey passengers. None
was found touting... |
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More..... |
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New foreign workforce measures to meet strong market
demand |
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With effect from 1 January 2008, the S Pass
quota for all sectors will be increased from 15% to 25%. The new S Pass
quota will come entirely from companies' Work Permit quota which will be
increased for all sectors. Companies can therefore employ more S Pass
holders, in lieu of Work Permit holders, hence improving the quality of
their foreign workforce... |
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To strengthen our
global talent attraction and retention efforts, refinements will be made
to the PEP scheme. Foreign professionals whose last drawn fixed monthly
salary overseas was at least S$7,000 will be eligible for a PEP. The PEP
will also be granted to former P1 Employment Pass holders upon
application. |
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These changes
will take effect from 1 March 2008. Existing and new P1 pass holders
working in Singapore that apply for the PEP ahead of the 2-year
requirement will be accorded in-principle approval. They can apply to
take up the PEP at the end of 2 years on their current P1 pass... |
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More..... |
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Singapore Workforce 2007 |
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The continued tightening of the labour
market this year has also led to significant gains in income and a
reduction in the number and share of low wage workers... |
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Excluding the
extreme age bands, the employment rate for those aged 25 to 64 edged up
to a new record of 76.5% from 75.5% a year ago. Supported by efforts to
improve employability of older workers, the employment rate of older
residents aged 55 to 64 rose by 2.5%-points over the year to 56.2% in
June 2007.. |
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More..... |
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Use of outdoor display areas (ODA) by HDB shop
retailers |
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Since 17 Oct 07, HDB, SCDF and NEA have been
mounting joint inspections with the Town Councils to enforce the ODA
guidelines. Sixteen joint inspections, one in each of the 16 Town
Councils, involving a total of 1,180 commercial units, have been carried
out to-date. |
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Upon the first joint inspection, an average
of 41% of the shops at each site were found to have infringed the ODA
guidelines. Some of the common infringements include installation of
drop-down screens and lack of 1-metre distance between rows of goods... |
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More..... |
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Lower season parking charges for commercial vehicles
weighing up to 1800kg |
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From 1 Dec 2007, owners of commercial
vehicles such as vans and mini-buses with unladen weight not exceeding
1,800 kg will enjoy lower season parking charges if their vehicles can
fit into a car lot... |
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About 900 season parking ticket holders are
expected to benefit from the revision. Instead of paying the higher
season parking charge of between $120 and $185 per month for heavy
vehicles, they will now pay the lower season parking charge of $65 for
surface car parks and $90 for multi-storey car parks in residential
estates, and between $80 and $180 in commercial areas... |
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More..... |
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Cosmetic products to be regulated from 1 Jan 2008 |
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Effective from 1 January 2008, all new
products must comply with the ACD requirements and notify HSA prior to
sale. |
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All existing products that are currently
sold in the local market will be given 12 months to notify HSA and to
fully comply with the requirements by 1 Jan 2011... |
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More..... |
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Review of the Singapore media industry |
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Early last year, MDA worked with industry
players to successfully kick-off a series of trials on High Definition
TV. Today, HDTV is available to Singapore households over free-to-air,
cable and Internet Protocol or IPTV. |
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We view the delivery of digital TV services
to mobile devices as a promising new way to deliver media services to
consumers anytime, anywhere. Hence, MDA has proposed a policy framework
to enable the early deployment of commercial mobile broadcasting... |
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More..... |
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Outlook for Singapore economy in 2008 |
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MTI forecasts the Singapore economy to grow
by 4.5-6.5 per cent in 2008. This represents a moderation in growth
towards the economy's underlying potential rate, following four years of
above-trend growth. |
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The market consensus is that the US
economy will slow down in the first half of 2008 as a result of
weaker credit and housing markets before resuming healthy growth
in the second half. This would support GDP growth in Singapore in
the upper half of the 4.5-6.5 per cent forecast range... |
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More..... |
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HDB releases public housing data for 3Qtr 2007 |
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HDB’s Resale Price Index (RPI) rose by 6.6%
in 3rd Quarter 2007 over the previous quarter, with price increases
across most flat types and towns. |
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The median Cash-Over-Valuation (COV) amount
among all resale transactions conducted in 3rd Quarter 2007 was $17,000
(see Annex C). Cases requiring COV constituted 80% of all resale
transactions in this quarter, with 20% of resale transactions done at or
below valuation... |
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More..... |
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Measures to help HDB retailers |
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Most older HDB shops were built with
electrical loads lower than current norms. Over time, the electrical
load requirements in shops have increased with the proliferation of
air-conditioning, more lighting and other electrical appliances. |
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Currently, the charges for electrical
upgrading for shop tenants and shop owners are $45 per amp and $85
per amp respectively. From 14 Nov 2007, electrical upgrading up to
1 phase 60 amp will be free for tenants while shop owners will pay
the revised charge of $45 per amp... |
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The lower charges/free upgrading will
benefit about 1,200 owners and 1,300 tenants of HDB shops with an
existing electrical supply of less than 1 phase 60 amps... |
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More..... |
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SGNIC launches bidding for fully numeric domain names |
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While alphanumeric domain names already
exist, (eg, www.in2015.sg), fully numeric ones like www.123.sg have not
been allowed till now... |
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SGNIC, the national registry for domain
names, will now also allow pure numeric domain names in all the seven .sg
categories (ie. .sg, .com.sg, .net.sg, .org.sg, .gov.sg, .edu.sg, .per.sg).
The registration for pure numeric domain names will be phased
accordingly: |
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- 05 November – 28 December 20071:
All qualifying applicants including businesses and individuals can
register. Trademark owners2 will get priority over other
applicants. Example: A company with "123" as its trademark will get
priority for 123.sg, or in any other .sg domain category... |
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More..... |
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Employment situation in 3rd Quarter 2007 |
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Employment continued to grow strongly as the
economy maintained its rapid expansion. Preliminary estimates show that
employment grew by 57,600 in the third quarter of 2007... |
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Services continued to lead the employment
gains, adding 34,500 workers in the third quarter of 2007. Manufacturing
posted gains of 11,800. Driven by the growth in building activities,
construction increased its workforce by 10,800, continuing the rapid
increase of the previous quarter... |
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More..... |
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Travellers to declare currency or bearer negotiable
instruments over S$30,000 |
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From 1 November 2007 onwards, persons who
move into or out of Singapore physical currency1 or bearer
negotiable instruments2 (CBNI) the total value of which
exceeds SGD 30,000 (or its equivalent in a foreign currency) will be
required to give a report by filling up a form and submitting it to the
authorities. |
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The form is available at all checkpoints,
police establishments, Singapore Visitors Centres and branches of
Singapore Post... |
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More..... |
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Singapore Airlines A380 enters commercial service |
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The Singapore Airlines A380 enters
commercial service today (25 Oct 2007), with its first flight – SQ380 – from Singapore
to Sydney, Australia... |
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The majority of the seats on the two legs of
this flight were sold on eBay, the global online marketplace, with all
proceeds donated to charities... |
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More..... |
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Secondhand Goods Dealers Act effective from 1 Dec 2007 |
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Under the new Act, only dealers who deal in
secondhand goods that are listed in the Schedule will be regulated. This
will be regardless of whether such dealings take place at a shopfront,
via a makeshift stall or over the Internet. |
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The list of items was drawn up based on
crime data of commonly stolen items. While the existing Act has a wider
list of items, the new regulatory regime has a reduced list which
comprises commonly stolen items. This allows a sharper regulatory focus
in preventing fencing1. |
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Dealers who deal in items which are not in
the new list will not be regulated. The list of items may also be
revised according to crime trends... |
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More..... |
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Medical devices in Singapore to be regulated |
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HSA is adopting a phased approach in
implementing the new regulations to minimise the impact to the
supply of medical devices and to provide sufficient time for the
industry to meet the new standards and requirements. The control
measures will be implemented in three phases, starting from 1
November 2007:.. |
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More..... |
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Singapore outlook for 2007 and 2008 |
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Nonetheless, financial markets have
rebounded recently and underlying economic conditions remain
supportive. GDP growth is therefore on track to come in at the
upper end of the 7-8% forecast range this year, up from the
4.5-6.5% forecast during the April review... |
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In the Singapore economy, growth will
be led by non-IT manufacturing, construction and business
services, which have built up a strong momentum and are more
dependent on regional and domestic sources of demand as well as
developments in specific product markets. |
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At this stage, our assessment is that
the Singapore economy is likely to expand at a slower rate in 2008
than in the recent past, reflecting weaker global economic growth.
Singapore’s GDP growth rate is expected to come in within its
potential of 4-6% next year... |
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More..... |
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Proposed exemption from maximum credit card limit |
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The Monetary Authority of Singapore (MAS)
has issued a consultation paper proposing to exempt card issuers from
complying with the maximum credit limit when issuing credit or charge
cards to individuals with an annual income of at least $120,000 or net
personal assets exceeding $2 million[1]. |
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With the proposed exemption, card issuers
may determine the appropriate credit limits for this higher income group
in line with their assessment of the credit worthiness of these
individuals... |
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More..... |
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Grading exercise for licensed security agencies |
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About 52% of the agencies which took part
this year attained a Grade B and above as compared to the 24% in 2006.
This is a marked improvement and a good testimony to the rising
standards of the security agencies... |
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Of the 270 agencies in Singapore , 86
did not participate in the grading exercise. Of these 86, 8
agencies were newly licensed in the period of assessment and
therefore could not be graded... |
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More..... |
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Singapore and UK conclude landmark Open Skies
Agreement |
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Singapore and the United Kingdom (UK) have
concluded a landmark Open Skies Agreement (OSA) on 2 October 2007,
removing all restrictions on air services operated by carriers of both
countries. |
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With this agreement, Singapore Airlines (SIA)
will now be able to operate as many services as the Singapore-UK market
could support... |
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Similarly, UK carriers will be able to
operate any number of services beyond Singapore to any other city
in the world. These rights, which will be effective from end-March
2008, come nearly two decades after Singapore first made its
request to the UK... |
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More..... |
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Singapore's seaport to be world's first Wi-Max-Ready
by 2008 |
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By early 2008, all ships in Singapore can
have access to mobile wireless broadband, allowing real-time and
data-intensive communications between the ships and their customers and
business partners... |
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WISEPORT is one of the initial projects
under the Infocomm@SeaPort programme, which aims to provide a mobile
wireless broadband network within 15km from Singapore's southern
coastline... |
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More..... |
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MAS issues revised property fund guidelines |
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The revised Guidelines are intended to
improve safeguards for investors and to provide greater clarity and
flexibility for commercial transactions... |
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MAS will amend the Securities and Futures
Act (SFA) to include REIT management as a regulated activity... |
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More..... |
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BIS Survey ranks Singapore as world's 5th largest FX
centre |
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According to the latest survey by the Bank
for International Settlements (BIS), average daily foreign exchange (FX)
turnover volume in Singapore jumped 84% from the previous survey in
2004, to reach US$231 billion in 2007. |
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The survey ranks Singapore as the
fifth largest FX centre in the world and the second largest in
Asia, closely behind Tokyo... |
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The survey also ranks Singapore as eighth
largest centre globally in terms of over-the-counter (OTC) derivatives
trading, up from twelfth position in 2004... |
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More..... |
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Jackson Tai to step down as CEO of DBS |
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DBS Group Holdings said today that Jackson
Tai will step down as Vice-Chairman and Chief Executive Officer (CEO) to
be with his family in the United States, and his last day at the bank
will be towards the end of this year... |
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DBS has initiated an extensive global search
for the new CEO. In the interim, with the endorsement of the Boards, Koh
Boon Hwee, Chairman of DBS Group Holdings and DBS Bank, will with
immediate effect take on an active management oversight role. He will
oversee the Corporate Office to ensure continued strong leadership and a
smooth transition over the next few months... |
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More..... |
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MOM revokes licences of three employment agencies |
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The Ministry of Manpower (MOM) has revoked
the licences and forfeited the security deposits of three employment
agencies (EA) - Ms Bushra Employment Agency, CM Manpower Centre Pte Ltd
and Angel Maids Agency. |
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These EAs have breached the Employment
Agencies Act by illegally deploying foreign domestic workers (FDWs)
to perform work at households when they have not obtained valid
work passes1... |
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More..... |
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Medisave lucky draws for self-employed and informal
workers |
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The Government is introducing the Medisave
Contribution Draw (MCD) to encourage low-income self-employed persons (SEPs)
and informal workers to contribute to their Medisave accounts... |
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The MCD will consist of four quarterly draws
for each year of work done... |
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The MCD will run for three years and will be
reviewed thereafter... |
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More..... |
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Registration of optometrists and opticians starts in
Sep 2007 |
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In July this year, Parliament passed the
Optometrists & Opticians Act. The Act which aims to raise the standard
of eye care in Singapore will come into effect on 1 January 2008... |
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Applications for registration by the
Optometrists and Opticians Board have just started. Optometrists
and opticians are advised to apply for registration before 15
December 2007, in order to continue practising as optometrists or
opticians from January 2008... |
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More..... |
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Singapore Labour Market 2nd quarter 2007 |
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Total employment grew by an all-time
quarterly high of 64,400 in Q2 07, surpassing the increase of 49,400 in
Q1 07 and 36,400 in Q2 06. This brought employment growth in the first
half of 2007 to 113,800, compared with 81,500 in the same period last
year. |
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With the robust employment gains, the
seasonally adjusted overall unemployment rate declined significantly to
2.3% in Jun 07 from 2.9% in Mar 07. The resident1
unemployment rate also fell to 3.1% from 4.0% over the same period. An
estimated 76,100 (or 60,200 after seasonal adjustment) residents were
unemployed in Jun 07... |
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More..... |
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Employer-financed insurance for medical expenses of
foreign workers |
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The Ministry of Manpower will require
employers to purchase and maintain insurance for the medical expenses of
foreign workers from 1 January 2008. |
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This requirement is being implemented in
tandem with the withdrawal of healthcare subsidies for foreigners1,
which was previously announced by the Ministry of Health. The
requirement will apply to: |
- All new and existing foreign workers
on Work Permit or S Pass from 1 January 2008.
- All new foreign domestic workers, and
existing foreign domestic workers when employers renew their Work
Permits, from 1 January 2008.
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More..... |
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Rock Productions and CapitaLand develop Integrated Hub
at Vista Xchange |
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"CapitaLand Retail will also project manage the entire development of the
Integrated Hub, which is expected to be completed by 2011. |
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"The Integrated Hub will stand out in
the one-north precinct with its stunning iconic architecture.
Designed by Andrew Bromberg of AEDAS Hong Kong, the development
will boast over eight levels of Civic and Cultural Zone, and four
levels of Retail and Entertainment Zone, forming the base
structure..." |
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More..... |
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NETS and SingTel to launch Singapore's first NFC
trials |
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"By including a stored value wallet with
Over-The-Air (OTA) capabilities, which covers wireless downloads and
top-ups of stored value to NFC phones, the trial becomes a first in
Asia... |
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"Under the payment solution being planned,
SingTel users will need to download a mNETS application, which will
allow them to store and top up value on the mNETS payment application in
their phones any time. Users will then be able to make payments using
NETS FlashPay by flashing their SingTel mobile phones at NETS
contactless terminals islandwide..." |
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More..... |
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The Private Security Industry Bill 2007 passed |
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"Should a private investigator or security
officer be charged with or convicted of a prescribed offence which makes
his continued employment as a private investigator or security officer
undesirable, his licence can be suspended with immediate effect. This
power is provided in Clause 24(5) of the Bill. |
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"With the introduction of the licensing
schemes for security officers and private investigators, more than 500
private investigators and 30,000 security officers will need to apply
for a licence..." |
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More..... |
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Changi Airport to be corporatised |
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"After careful consideration, the government
believes that it is necessary to corporatise Changi Airport and to
re-structure CAAS’ existing regulatory and strategic functions under a
new regulatory body... |
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"Corporatisation will enhance Changi
Airport’s ability to compete in this changed landscape. In being more
nimble the new entity will further strengthen Changi’s position as a
premier air hub... |
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"Corporatisation is a complex process. We
will plan carefully and explore all possible options. The entire process
is expected to take 18 to 24 months..." |
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More..... |
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No plans to change minimum annual income requirement
for credit cards |
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"First, let me clarify that the minimum
annual income requirement to qualify for a credit card has not been
relaxed, and remains at $30,000. |
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"There are no plans to change this. When Mr
Palmer mentioned the relaxation in the minimum annual income for credit
cards, I presume he was referring directly to payment instruments with a
maximum credit limit of $500. |
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"MAS has exempted payment instruments with a
credit limit of less than $500 from MAS' rules to provide some leeway to
the market to innovate and develop convenient payment instruments..." |
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More..... |
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Singapore Airlines A380 First Flight Charity Auction
Starts |
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"The Singapore Airlines A380 flies its First
Flight from Singapore to Sydney on Thursday 25 October and the return
leg on Friday 26 October. |
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"A majority of seats on both legs of the
First Flight will be auctioned on eBay, the global online marketplace,
progressively over two weeks from Monday evening (Singapore time), 27
August 2007..." |
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More..... |
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Significant changes to the CPF system |
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"By 2012, we will require employers to offer re-employment to workers
reaching 62, up to age 65, and eventually to 67. This change will
precede the raising of the Draw Down Age (DDA). By 2012, employers
will be required to offer re-employment up to age 65 but the DDA to
65 will only be effected in 2018 – a significant time lag to help
workers and employers adjust... |
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"1% additional bonus interest will be
paid on the first $60,000 in a CPF member's combined accounts, with not more than
$20,000 from the OA accounts. This will enhance CPF's existing
risk-free framework... |
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"While our employment rates are among the highest in the world, our
residents are also among the longest living. The present DDA of 62
years is hence too early and results in the majority of members
prematurely depleting their savings. Thus, we will do the following: a.
progressively raise draw down age.. |
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"Even after changes to DDA, there will be those who live longer than
85. We want to ensure that they have a stream of income for life. The Government will therefore be looking at making annuities
compulsory for members to protect them against outliving their
retirement savings... |
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More..... |
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Formula One (F1) levy on hotel room revenues |
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"Following consultation with the
Singapore Hotel Association (SHA), the Ministry of Trade and
Industry (MTI) has decided on the following rates for the Formula
One (F1) levy on hotel room revenues: |
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a. 30% of the total revenues from
rooms and room packages for trackside hotels; and |
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b. 20% of the total revenues from
rooms and room packages for all other tourist hotels[1]..." |
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More..... |
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Prime Minister's National Day Message 2007 |
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 |
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"Economic growth in the first half of this
year was 7.6%, higher than we had expected. For the whole year, MTI has
raised its growth forecast to between 7 and 8%. |
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"The good news is that we have added 111,000
jobs in the first half – the highest number ever. Unemployment is very
low, at 2.4%. Workers are enjoying good wage increases and higher
bonuses because businesses are doing well... |
|
"One reason our income gap is widening is
our ageing population. Singaporeans are living longer than ever. We must
help our elderly live comfortably by keeping medical care affordable,
making our city barrier-free, and our public transport wheelchair
friendly. Those with enough savings will feel secure about their
future..." |
|
More..... |
|
|
Employment situation in 2nd Quarter 2007 |
|
"Preliminary estimates show that total employment grew
by a record quarterly high of 61,900 in the second
quarter of 2007, as the economy continued its strong
growth... |
|
"Employment grew in all
the major sectors, led by services which added 33,600
workers. Manufacturing posted gains of 16,600, higher
than earlier quarters..." |
|
More.... |
|
|
Iconic Hotel Phoenix closes on 1 August 2007 |
|
"In line
with the major construction that is happening on our
neighbouring sites, the owners of Hotel Phoenix
Singapore will be discontinuing operations at the
Hotel on 1 August 2007 for a refurbishment. |
|
"While we
are sad to do so after 35 years of operations, we
believe the refurbishment of Hotel Phoenix will add
value to the rejuvenation of Orchard Road and
contribute to the Government's vision of strengthening
Orchard Road's appeal as a major retail, commercial
and entertainment belt..." |
|
More..... |
|
|
SingTel launches pay TV service |
|
"Subscribers who opt for the Set-Top Box with
recording function can pause, rewind and record live
TV programmes so that they no longer have to miss
anything. |
|
"The mio
TV website allows subscribers to programme their
recordings even when they are not at home, and an
upcoming service that will enable them to do it via
their mobile phones..." |
|
More..... |
|
|
Revision of Development Charge (DC) |
|
"The DC was lowered from 70% to 50% in
1985 to avoid eroding the share of value enhancement
that accrued to developers in a declining market. |
|
"With the current buoyant property
market, the converse is true. Thus, the Government has
decided to reinstate the DC to its original rate at
70%..." |
|
More..... |
|
|
Optometrists and Opticians Bill 2007 passed |
|
"For optometrists, those
with recognised qualifications and at least a year of
optometry experience will be fully registered.
Optometrists with less than a year of experience will
be provisionally registered, and will have to work
under supervision for 1 year before they become fully
registered... |
|
"For opticians, those with
work experience of at least 5 years will be fully
registered as opticians if they pass a competency
test. Those with between 2 to 5 years of experience
will need to undergo a part-time modular upgrading
course. There may be some opticians who do not intend
to do any refraction but wish to do only dispensing;
they will need to undergo a competency test or failing
which, an upgrading programme but without the
refraction component. This will ensure that they can
uphold safe standards in dispensing. |
|
"Opticians with less than
2 years experience and all new entrants to the
profession will need to attend a certificate course in
opticianry in order to qualify for registration.
Singapore Polytechnic has organised a course to cater
to these opticians. Such a course can be completed in
9 to 24 months..." |
|
More..... |
|
|
Banks to adopt new guidelines on home loans |
|
"These guidelines provide customers with
clear disclosures on the use of home loan board rates, the financial
indicator(s) against which these rates are benchmarked, and the basis
for the change in the rates over time... |
|
"The new guidelines are applicable to
loans taking effect from 15 June 2007 and not to loans committed
before that..." |
|
More..... |
|
|
Advance GDP estimates for second quarter 2007 |
|
"Advance estimates1 show that real
gross domestic product (GDP) rose by 8.2 per cent on a year-on-year
basis in the second quarter, up from 6.4 per cent in the previous
quarter... |
|
"Underpinned by strong growth in the
biomedical manufacturing and transport engineering clusters, the
manufacturing sector is estimated to have grown by 10.2 per cent the
second quarter, up from 4.4 per cent in the previous quarter..." |
|
More..... |
|
|
Singapore in a period of good economic growth and
social development |
|
|
|
"We are
into a period of good economic growth and social
development. Singapore made 6.6% growth in the last
quarter of 2006 and 6.1% in the first quarter of 2007. |
|
"If there are no wars or
oil crises, this golden period can stretch out over
many years. Investors from developed economies are
pouring money into East and Southeast Asia through
fund managers who are investing in the stock markets
of the region..." |
|
More..... |
|
-
Application period for SME rebate scheme starts
-
Licence needed for 15 chemicals (explosive precursors) in
Singapore
-
Company using pirated software raided by police
|
Update on growth of Infocomm industry in Singapore |
|
 |
|
"The Infocomm Development
Authority of Singapore’s (IDA) Annual Survey on
Infocomm Industry shows that in 2006, the total
revenue for our infocomm industry shot up almost 20%
to S$45.4 billion (US$29.5 billion). |
|
"The strong performance
was driven by healthy growth in our export market. The
export market accounted for some S$29 billion compared
to S$22 billion in 2005 while the domestic market
accounted for S$16.4 billion compared to S$15.8
billion in 2005..." |
|
More..... |
|
|
Shell LiveWIRE Awards 2007 launched |
|
"Jointly organised by Shell Companies in
Singapore, the Institute of Technical Education (ITE), the ITE Alumni
Association and the Singapore Press Holdings Chinese Newspapers
Division, the prestigious Shell LiveWIRE Awards 2007 aims to groom,
recognise and reward promising young entrepreneurs and promote the
spirit of enterprise... |
|
"To qualify for the Awards, applicants should
be 35 years or below and have been in business from three to 36 months.
The Top Award is $10,000. There will also be four Merit Awards of $2,000
each. The Closing Date of the Awards is 31 July 2007..." |
|
More..... |
|
|
Funding and mentorship for Casual Games development |
|
"Game studios and independent developer teams
are invited to submit their concept proposals from 16 June to 10 August
2007, and successful applicants will be eligible for up to S$35,000 in
prototype development funding. |
|
"Each of the 10 project teams that receive
funding under INVIGORATE will be expected to produce a playable PC demo
by 25 January 2008..." |
|
More..... |
|
|
Phasing out of temporary registered doctors for
service provision |
|
"Only temporary medical registration for service provision is being
phased out by 31 Dec 2007. |
|
"Existing temporary registered doctors brought in as service providers
before 1 Jan 2008 can still continue to work here until they either
become conditionally registered (acquired recognized postgraduate
qualifications) or they have completed their 4-6 years of service in
Singapore..." |
|
More..... |
|
|
1st Quarter 2007 Real Estate Statistics |
|
"Overall prices of
private residential properties rose 4.8% in the 1st Quarter 2007,
compared with the 3.8% increase in the previous quarter |
|
"Prices of non-landed properties rose 5.3%
in the 1st Quarter 2007, compared with the 4.3% increase in the previous
quarter. Prices of apartments rose 5.1% while those of condominiums rose
5.4%..." |
|
More..... |
|
|
Survey on conditions of employment for older workers in 2006 |
|
"As at June 2006, nearly all private sector
establishments surveyed (97%) hired Singapore citizens aged 40 to 49.
However, the proportion employing workers in their 50s declined to 89%
and more sharply to 54% for those older. |
|
"Seven in ten employers cited relevant skills
and work experience as the most common reason workers in their 40s and
50s fit into organisations. Although this was also important for older
workers aged 60 & over (52%), the top reason cited for employing them
was their lower likelihood to job-hop (61%)..." |
|
More..... |
|
|
Growth of structured finance products in Singapore |
|
Ms. Tay Bee Bee,
Director Monetary Authority of Singapore |
|
"Over the last 3 years, Singapore managers
originated more investment CDOs than any other country in Asia ex-Japan,
with an estimated S$6 billion of CDOs in 2006... |
|
"In Asia, Singapore has been pro-active in
providing clarity and certainty on the treatment of CDOs into our
regulatory regime. Banks have been allowed to invest in all tranches of
CDOs, while insurance companies have been permitted to invest in the
equity tranches of CDOs since January 2006..." |
|
More..... |
|
|
MAS and SGX to oversee corporate governance for listed companies |
|
Oversight of corporate governance of listed
companies will be transferred from the Council of Corporate Disclosure
and Governance (CCDG)[1] to the Monetary Authority of
Singapore (MAS) and the Singapore Exchange Ltd (SGX) with effect from 1
September 2007... |
|
The Code of Corporate Governance will
continue to be implemented through the SGX Listing Rules via the “comply
or explain” approach[2], as is currently the practice... |
|
More..... |
|
|
Changi Airport's Terminal 3 to start operations on 9 Jan 2008 |
|
"Airlines, airport agencies, ground
handlers, shop tenants and other airport business partners operating at
Changi Airport's new Terminal 3 can start to move in and set up their
offices and systems to prepare for operations... |
|
"Terminal 3 and its associated works cost
S$1.75 billion. It will have a handling capacity of 22 million
passengers per year, bringing the total annual passenger handling
capacity of Changi Airport to about 70 million..." |
|
More..... |
|
-
Govt accepts NWC recommendations for 2007/2008
|
Optometrists and Opticians Bill |
|
In May this year, the Ministry of Health
will propose legislation, in Parliament, to regulate the practices of
optometrists and opticians. If passed in Parliament, it will be called
the Optometrists and Opticians Bill. |
|
More..... |
|
|
The future is looking bright for the infocomm industry |
|
"In a recent survey conducted by IDA, the
number of infocomm job vacancies has more than doubled, from 2,100 in
2004 to 5,700 in 2005.. |
|
"Overall, the infocomm industry has put
in a sterling performance. Its revenue grew from $38 billion in
2005 to cross the $40 billion mark for the first time in 2006..." |
|
More..... |
|
|
Commissioner of Charities deregisters three dubious
charities |
|
"Following the implementation of new
regulations governing charity registration, public fund-raising appeals
and large charities on 1 May 2007, the Commissioner of Charities (COC)
announces today the removal of three charities from the Register of
Charities with immediate effect. |
|
"These are the Children of Singapore
Foundation, Children's Lukaemia Foundation Limited, and Club Sunshine
Limited (previously known as Kids-In-Distress Foundation Limited[1]). |
|
"The COC has also decided not to grant
charity status to Kidney Fund Organisation..." |
|
More..... |
|
|
Employment situation in 1st quarter 2007 |
|
"Preliminary estimates show that total
employment grew by 48,000 in the first quarter 2007. This is higher than
the gains of 45,000 in the same period a year ago, but seasonally lower
than 51,500 in the fourth quarter of 2006. |
|
"All major sectors added workers, led by
services with gains of 33,400 workers. Manufacturing posted increases in
employment of 9,500..." |
|
More..... |
|
-
Singapore
Public Holidays 2008
-
Monograph on supervisory framework for financial institutions
|
Inaugural Singapore Business Events Awards |
|
"The inaugural Awards
ceremony will be held some time in early August 2007
and thereafter, it will be held annually... |
|
"The Awards will
recognise industry players that are innovative in organising
business events and whose expertise and service levels meet global
standards..." |
|
More..... |
|
|
Retrenchment and Re-employment in 2006 |
|
"Specifically, the re-employment rate of residents
retrenched from PMET jobs rose from an average of 65%
in 2005 to a post-Asian crisis high of 73% in 2006. |
|
"This exceeds the rate
for the other two occupational groups, unlike in past years when
clerical, sales & service workers were the most re-employable... |
|
"In 2006,
private sector establishments each with at least 25
employees retrenched 12,359 workers..." |
|
More..... |
|
|
Experience lifestyle yachting with an Azurea
membership |
|
Kingfisher
Marine announces the launch of Azurea, an new
membership scheme that provides easy and affordable
access to the exclusive world of lifestyle yachting... |
|
Azurea is specifically designed for
the busy professional who wants to simply climb on board with his
family or friends and go boating! |
|
The scheme removes all of
the uncertainties associated with chartering and
relieves members of all the responsibilities and
expense normally associated with ownership. |
|
More..... |
|
|
UBS opens Wealth Management Campus in Singapore |
|
“ 'The Campus will be a centre of excellence
for development programmes targeted at employees and clients in the Asia
Pacific region. More importantly, it will also serve as a hothouse for
wealth management research and thought leadership in new wealth
management initiatives,' said Kathryn SHIH, Head of UBS Wealth
Management in Asia Pacific... |
|
"Equipped with state-of-the art
facilities, including a lecture hall with video conference
facilities and voice activated cameras, five seminar rooms, a
media lab for business technology training, networking and
administrative areas, UBS expects to train approximately 5,000
existing and future UBS Wealth Management staff by 2010..." |
|
More..... |
|
|
Impact of the two Integrated Resorts in 2010 |
|
"Together with the two IRs, these will help
us achieve our target to attract 17 million visitors and generate S$30
billion in tourism receipts by the year 2015... |
|
"In terms of manpower, the two IRs
combined are expected to create some 50,000 to 60,000 additional
jobs throughout the economy when both are fully operational..." |
|
More..... |
|
|
Police bust unlicensed moneylending syndicate |
|
"Seventeen Chinese men aged between 17 to 38
years old believed to be members of an unlicensed moneylending (UML)
syndicate were arrested in an island-wide operation conducted on 12
April 07. More than $130,000 in cash was seized... |
|
"Fifteen premises in Woodlands, Sengkang, Ang
Mo Kio, Toa Payoh, Hougang, Yishun, Sembawang, Serangoon and Changi were
raided during the operation, which lasted from 8pm on 12 April 07 to 1am
on 13 April 07..." |
|
More..... |
|
|
Spam Control Bill 2007 passed |
|
"Part I of
the Bill defines spam. A message is “spam” when it is
an unsolicited commercial electronic message sent more
than 100 times, with the same or similar
subject-matter, during a 24-hour period, or more than
1,000 times during a 30-day period, or more than
10,000 times during a one-year period... |
|
"An opt-out approach
is adopted under the Bill as it balances the need of companies and
marketers to send unsolicited messages for business reasons... |
|
"In order to balance
between consumer interests and industry needs the Bill will
require that each message contains a valid unsubscribe facility,
an ‘<ADV>’ label to mark it out as an advertisement,
accurate header information or subject titles and functional
contact details of the sender... |
|
"The unsubscribe
process has been structured to be consumer-friendly so that even
individuals who receive small volumes of spam have a means of
recourse, without resorting to legal action. The Bill makes it
mandatory for senders to allow recipients to unsubscribe via the
same medium through which the spam was received. This ensures that
unsubscribing from spam can be done easily and conveniently by
replying to an email or SMS..." |
|
More..... |
|
|
Pay rise for ministers and civil servants |
|
"The resignation rate of the Management
Executive Scheme (which employs graduate officers across the
ministries) was 10.6%, up from 7.4% in 2005. At some of our entry
grades, the situation is quite serious, with resignation rates as
high as 25%. |
|
"Members of the House would also have
read from the newspapers[4] that for our Home Team, there has been
a 40% increase in the resignation of junior officers in January
and February this year, compared to the same period last year. |
|
"We need to act before the situation
becomes more serious. The Government, as an employer, has to
respond quickly and decisively to stay competitive and close the
wage gaps. Otherwise, we will deplete the Service of the able
people we need, and the service level to the public will be
affected..." |
|
More..... |
|
|
Paying our public servants competitive salaries |
|
|
|
"We know from head-hunters
that the entire top managements of some of our
agencies are being targeted. The Middle Eastern
countries are particularly interested. They have
studied Singapore’s success story. They want to tap
our people to join them and replicate the miracle, and
money is no object... |
|
"This is an urgent
problem. We have experienced on previous occasions the
painful consequences of responding too slowly when the
private sector surged ahead. |
|
"For example in the early
1990s, the Administrative Service lost entire cohorts
of good officers. This showed up in the age profile of
the Service – broad at the young and older age groups,
but narrow at the mid- to late-30s range. We took many
years to recover from the loss. This must not happen
again..." |
|
More..... |
|
-
Bank Julius Baer opens wholesale bank branch in Singapore
|
Singapore Labour Market 2006 |
| "Total
employment creation for the whole of 2006 rose to an
all-time high of 176,000, surpassing the previous
year’s gains of 113,300. This brought the total number
employed to 2,495,900 persons as at December 06... |
| "On
average, 67,500 residents were unemployed in 2006,
down from 74,900 in 2005 and the high of 91,200 in
2003..." |
|
More..... |
|
|
$5.2 billion Resorts World at Sentosa slated to open in
early 2010 |
| "Resorts World
at Sentosa will welcome some 10 million tourists, excluding
local visitors, by 2015, generating S$15 billion in tourism
receipts, half of Singapore’s target. |
| "Spending per
diem on entertainment and sightseeing is expected to be more
than six times higher than current spending levels... |
| "In
anticipation of the increase in tourist traffic to Sentosa
Island, Resorts World at Sentosa is also committed to
significantly enhance the existing infrastructure of the
island by building a new three-lane bridge, adjacent to the
existing Sentosa Gateway Bridge... |
|
More..... |
|
|
StarHub launches online storage solution for companies |
|
"Targeted at companies and individuals that
need to manage numerous large documents and files on a daily basis,
StarHub’s OSB lets customers store and back up files safely, send and
share information effortlessly and allow multiple users to access
documents from their notebook or PC on-the-go, be it text, graphics,
presentations, video, voice or any other digital media... |
|
"Price packages for OSB starts as low
as S$60 per month for 10GB storage space and five User IDs, and
can scale to as high as 2TB (i.e. 2000GB) and up to 1000 User IDs..." |
|
More..... |
|
-
Media statement on Genting and the Sentosa Integrated Resort
|
Islamic finance in Singapore |
|
Mr Ng Nam Sin,
Executive Director, Monetary Authority of Singapore |
|
"We have reviewed our policies to
ensure that Islamic finance is not disadvantaged vis-à-vis
conventional finance... |
|
"Regulatory wise, we have worked
proactively with Financial Institutions in allowing Islamic
Finance transaction under existing regulation... |
|
"All these put together, along with
Singapore's open markets, efficient infrastructure and transparent
regulations allow Singapore to further develop itself as an
international financial centre offering Islamic Finance
possibilities..." |
|
More..... |
|
|
A Statistical Profile of Older Workers |
|
"Older persons aged 50 &
over made up close to one-quarter (24%) of the
resident workforce in 2006. |
|
"Reflecting their
relatively less educated profile, the majority (68%)
of older workers were employed in lower-skilled jobs
such as cleaners, labourers & related workers (18%),
plant & machine operators & assemblers (16%) and
service & sales workers (15%). |
|
"These occupations also
registered an above-average incidence of older workers
especially for cleaners, labourers & related workers
where more than half (53%) were aged 50 & over...." |
|
More..... |
|
|
Check your eligibility for Singapore PR or citizenship
online |
|
"The Naturalisation Eligibility Tool
is a free online self-assessment system, to assist foreigners
working and staying in Singapore to assess if they are eligible
for either Singapore Permanent Residence (SPR) or Singapore
Citizenship (SC)... |
|
"Overseas foreigners are also able to
use the system although theirs will only be a hypothetical
assessment. These overseas foreigners are given the option to
provide their contact particulars to enable ICA to contact them if
necessary..." |
|
More..... |
|
-
1,100 theft cases involving metals in 2006
Budget Statement 2007 |
|
"I will give lower-income Singaporeans
larger GST Credits. |
|
"Those who live in one- to three-room
flats[4] and have annual assessable incomes of $24,000
or less will qualify for the largest quantum of $1,000, to be paid
out in instalments of $250 per year over four years... |
|
"Next, if you live in a larger home
with an AV of more than $10,000, but you earn less than $100,000 a
year, you will get $400 in GST Credits. |
|
"The top income group comprising those
earning over $100,000 a year will get $100. It is a small gesture,
but recognises that the GST increase affects everyone. |
|
"NSmen and NSFs, including those aged
below 21, will also get an additional $100 of GST Credits, to
recognise their contributions to national security... |
|
"The first instalment will be paid out
on 1 July this year, at the same time as the GST increase..." |
|
More..... |
|
-
Health
Products Bill passed
-
Police raid second company using pirated software
-
Singapore's first underground rock cavern for hydrocarbon storage
|
Singapore's postal sector to be fully liberalised from
1 April 2007 |
|
"To ensure that our security concerns of
mail integrity and accountability are met, SingPost will continue to
hold the full set of letterbox masterdoor keys... |
|
"As national stamps carry the
country's name and to prevent consumer confusion over which PPL
the national stamp belongs to, SingPost will continue to be the
only one to issue these stamps... |
|
"For greater operational efficiency,
Singapore will keep a centralised postal code management system.
SingPost will continue to manage this centralised system, while
providing access to the postal codes database to all interested
PSOs..." |
|
More..... |
|
|
Income Tax (Amendment) Bill passed |
| "Currently, the
penalty for not filing an income tax return is significantly
less severe than the penalty for under-declaring income.
This creates an incentive for taxpayers to avoid taxation by
not submitting their income tax returns. |
| "To discourage
this practice, a penalty of double the amount of tax
undercharged will be introduced for the failure to file a
tax return in respect of any year of assessment within 3
years from the filing deadline..." |
|
More..... |
|
|
Report on labour force in Singapore in 2006 |
|
"76% of the
resident population aged 25 to 64 were employed, the highest since the
data was first compiled in 1991, up from 73% in 1996... |
|
"12% or
172,000 of resident employees were engaged on term contracts in
June 2006 while the remaining 88% were permanent employees3. On
average, employees on term contract drew lower pay than those on
permanent appointments... |
|
"The share
of degree holders almost doubled to 23% from 12% a decade ago..." |
|
More..... |
|
|
Proposed changes to rules for unsecured credit |
|
"A measured step of lowering the minimum
annual income threshold for unsecured credit facilities from $30,000 to
$20,000. A more conservative maximum credit limit of twice the
borrower's monthly income will be set for individuals in this $20,000 to
$30,000 income group, with no access to credit cards... |
|
"Create appropriate modifications to
the moneylenders regime. For instance, for unsecured loans of
$3,000 and below, no minimum income requirement would be imposed
but such loans would be subject to an interest rate cap..." |
|
More..... |
|
|
Employment situation in 4th quarter 2006 |
|
"Preliminary estimates show that total
employment grew by 48,800 in the fourth quarter of 2006, considerably
higher than the gains of 35,300 in the same period a year ago, and up
from 43,000 in the third quarter of 2006... |
|
"Total retrenchment for the whole of
2006 was 12,200. Although this is higher than 10,294 in 2005, it
is only about half the number retrenched in 2001 (25,838).
Manufacturing formed the bulk of retrenchments (8,800), followed
by services (3,000) and construction (400) in 2006..." |
|
More..... |
|
|
About 200,000 new Singapore PRs in the next 5 years |
| "From
2001-2004, an average of 35,250 new permanent residents (PR)
and 7,130 new Singapore citizens (SC) were granted per
annum. In 2005, about 52,300 new PRs and 12,900 new SCs were
granted. |
| "The average
numbers of new PRs and SCs are 38,700 and 8,300
respectively, for the period 2001-2005. |
| "We could
expect to add about 200,000 new PRs and 40,000 new SCs in
the next 5 years if we get the same numbers of new PRs and
SCs as in the last 5 years..." |
|
More..... |
|
Secondhand Goods Dealers Bill 2007 passed |
| "The current
Act does not cover dealers operating without a shop. We
recognise that many secondhand goods dealers today actually
carry on their business via other means, such as on the
Internet, or in an open-air setting like Sungei Road. This
is unacceptable, as thieves and robbers will simply get rid
of their loot through these other dealers who do not have a
shop-front... |
| "MHA is hence
widening the coverage of the law to include those dealers
who do not operate within a shop. However, in keeping with
the emphasis on a sharper regulatory focus, only dealers who
trade in secondhand goods that are listed in the Schedule
will come under the ambit of the Act..." |
|
More..... |
|
-
Crazy Horse Paris in Singapore to close
-
MOT comments on Malaysia's plan to temporarily close causeway to heavy
vehicles
The Banking (Amendment) Bill passed |
| "Entities that
have not been approved to issue credit cards in Singapore
will be prohibited from soliciting for or accepting card
applications in Singapore, and this applies equally to third
parties acting on their behalf... |
| "The proposed
regime also clarifies that single party merchant credit is
exempted from regulation. Such an arrangement, where
the card is used only for transactions with the issuer, is
essentially a deferred payment scheme offered by merchants
to their customers. |
| "In addition, a
new exemption for cards granting credit in small amounts not
exceeding S$500 will be introduced. This allows
flexibility in payments for small-ticket items without
raising substantial concerns about Singaporeans spending
beyond their means..." |
|
More..... |
|
-
StarHub first to launch HDTV service in Singapore
-
Singapore launches Infocomm Enterprise Programme
-
MDA launches new licence framework for IPTV
-
The new
NKF’S progress report 2006
-
Singapore Airlines to review creative agency
|
SMU starts School of Law |
|
"The Third Committee on the Supply of Lawyers estimated that an
additional 140-150 legal professionals will be required each year
from 2010 until 2015 to meet the needs of Singapore’s legal
industry. |
|
"To meet this number, the SMU School of Law will take in 90
students in AY2007, reaching a steady-state intake of 120 from
AY2008 onwards. |
|
"The NUS Faculty of Law will also increase its intake from the
current 220 to 240 beginning in AY2007..." |
|
More..... |
|
|
Singapore economy expected to grow by 4-6% in 2007 |
|
|
|
"In the last five years, our real
per-capita GDP grew on average by 4.3% per annum, but real average
wages (after adjusting for inflation) grew at only half this rate
– 2.1%. |
|
"Higher-end wages have risen by more
than this. But at the lower-end wages have increased by much less,
and some have even stagnated. |
|
"This is why we are implementing
Workfare as a fourth pillar of our social safety net, together
with the CPF, the 3Ms (Medisave, MediShield and Medifund) and HDB
home ownership..." |
|
More..... |
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Public transport operators to handle lost & found properties |
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"With effect
from 1 January 2007, the public bus and taxi companies,
namely, SBS Transit Ltd, SMRT Buses Ltd, Comfort
Transportation Pte Ltd, Yellow-Top Cab Pte Ltd, CityCab Pte
Ltd, SMRT Taxis Pte Ltd, Trans-Cab Services Pte Ltd, Smart
Automobile Pte Ltd and Premier Taxis Pte Ltd, will handle
all properties found in their vehicles and handle all
reports on lost and found properties made by their customers
and drivers..." |
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More..... |
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Changes to CPF Minimum Sum and Investment schemes from 1 Jan 2007
2006
2005
2001 - 2004
This
section commenced on 22 Aug 2001
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All rights reserved
