Singapore News: 1st JUN – 4th AUG 2011

 

World’s largest rubber plant to be built in S’pore

 

German chemical maker Lanxess is investing some S$350 million in Singapore to build the world’s largest manufacturing plant for neodymium polybutadiene, a specialised rubber.

This synthetic rubber material is used for the manufacture of high performance and eco-friendly tyres.

The move comes as the company rides on the booming tyre market in Asia.

Lanxess estimates the eco-friendly tyre market would grow by an annual nine per cent globally.

Just one year after breaking ground for its butyl rubber plant in Jurong Island, Lanxess is giving its large-scale investment a follow-through.

more>>>

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1132627/1/.html

 

Singapore overtakes Hong Kong for expat costs

 

SINGAPORE has overtaken Hong Kong to become the third costliest economy in Asia for expatriates’ daily needs because of its strengthening currency, human resource firm ECA International said on Wednesday.

It said the Singapore dollar, which has surged by more than 10 per cent against the greenback, pushed the city-state to third place above Hong Kong, with Japan and South Korea remaining the two most expensive countries.

ECA International carries out a survey twice a year by measuring a basket of common items purchased by expatriates in more than 400 locations globally, such as dairy produce, vegetables, clothing and meals out.

The survey does not include housing, utilities, car and school expenses as these items can make a significant difference to costs but, the firm says, are often compensated for separately in expatriate packages.

more>>>

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_677855.html

 

S’pore ranked as Asia’s leading global city: study

 

Singapore has been ranked as Asia’s leading global city, according to a study released by PricewaterhouseCoopers.

The study ranks cities of the world across a number of parameters such as ease of doing business and livability.

Though Singapore took the top spot for an Asian city, it finished in ninth place among all the 26 cities surveyed.

Results show Singapore to be doing well in key areas such as ease of doing business, economic clout, technology readiness and health, safety and security.

more>>>

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1135350/1/.html

 

Unemployment has improved to three-year low in Singapore

 

The unemployment rate and the ratio of job vacancies to job seekers have approached pre-recessionary levels. Cost pressures on businesses have emerged, amid a moderation in labour productivity growth.

more>>>

http://www.mom.gov.sg/newsroom/Pages/PressReleasesDetail.aspx?listid=368

 

Train finally arrives at Woodleigh MRT station

 

After 8-year wait Woodleigh station located in between Potong Pasir & Serangoon stations finally begin operations.

more>>>

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1136068/1/.html

 

Marriage rates fall for the first time since 2003

 

THE number of marriages in Singapore dipped in 2010, while divorce cases crept up again.

The Singapore Department of Statistics released these figures in their annual Statistics on Marriages and Divorces for the year 2010, on Wednesday.

A total of 24,363 couples pledged to love and cherish their partners forever – a 6.6 per cent decrease from 2009 – and the first drop since 2003.

more>>>

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_682936.html

 

CPI increased by 0.6 percent in May 2011

 

The higher cost of housing was partly offset by the lower costs of transport,
“recreation & others” as well as clothing & footwear. Housing cost increased
largely due to higher service & conservancy charges (S&CC) as rebates for S&CC
were given in April 2011 but not in May 2011.

more>>>

http://www.singstat.gov.sg/news/news/cpimay2011.pdf

 

Guide on setting up home for Next Gen NBN

 

From August, homeowners will get a guide on how they can set up their homes to tap on the ultra high broadband speed delivered over the Next Generation Nationwide Broadband Network (Next Gen NBN).

The guide is developed by the Infocomm Development Authority of Singapore (IDA). It will offer a summary and comparison of the commonly-used options to bringing fibre broadband access to different parts of the house via the Termination Point.

The guide will be made available to the public at IDA’s office, the Infocomm Experience Centre (iExperience) and online at IDA’s website www.ida.gov.sg.

Owners of new flats will receive their copies through the Housing and Development Board.

more>>>

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1137138/1/.html

 

Government to commit S$400m on urban sustainability R&D

 

The government will commit S$400 million to spearhead research and development (R&D) in urban sustainability.

This was announced at the first ever Urban Sustainability Research and Development Congress on Monday morning.

The congress will see some 800 participants from government agencies, research institutes and the private sector discuss R&D responses to urban sustainability challenges.

The congress will bring together 12 government agencies, which will discuss R&D priorities in five key areas including Sustainable Urban Living, and Urban Ecology and Food.

more>>>

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1137382/1/.html

 

CPF keeps 4% Special and Medisave Account interest rate

 

CPF members will continue to enjoy a risk-free interest rate of four per cent on their Special and Medisave Accounts (SMA) from July to September.

This is in line with the Government’s announcement made in September last year to maintain the four per cent floor rate for interest earned on all SMA monies and Retirement Account (RA) monies until December 31 this year.

Savings in the SMA currently earn either four per cent or the 12-month average yield of 10-year government bonds plus one per cent, whichever is the higher.

An additional one per cent interest will continue to be paid on the first S$60,000 of a member’s combined balances, with up to S$20,000 from the Ordinary Account (OA).

The additional interest received on the OA will go into the member’s SA or RA to enhance his retirement savings.

If the member is above 55 years old and participates in the LIFE scheme, the additional one per cent interest will also be payable on his annuity premium, less annuity payouts already made.

The additional interest earned on the member’s LIFE annuity monies will be paid into his RA.

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1137815/1/.html

 

Fuel tariffs to rise on back of high oil prices

 

HOUSEHOLD power bills are set to rise over the next three months due to the increasing cost of fuel.

Electricity tariffs will go up by an average of 6.8 per cent – the third quarterly rise in a row. And gas tariffs are set to climb by 9 per cent from next month.

The higher tariffs will add $2.13 to the average monthly electricity bill for a one-room HDB flat, and 86 cents to its gas bill. Families in four-room flats will pay $6.71 more a month on average for their electricity and $1.43 for gas.

more>>>

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_685961.html

 

Real total wages rose by 2.7 per cent in 2010

 

The strong economy and the tightening labour market raised workers’ wages in 2010. This was in contrast to the situation in 2009 when employees endured salary freezes and wage cuts to help companies reduce business costs and save jobs during the recession. There was also progress made for restructuring wages in 2010, with nearly nine in ten employees under some form of flexible wage system. The flexible wage system has enabled employers to adjust wages to save jobs during the recession as well as to reward and motivate employees during the upturn.

more>>>

http://www.mom.gov.sg/newsroom/Pages/PressReleasesDetail.aspx?listid=371

 

New reservoirs to boost S’pore’s water supply

 

Singapore’s water supply received a boost with the opening of the Punggol and Serangoon Reservoirs.

This brings the total number of reservoirs in Singapore to 17.

more>>>

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1138608/1/.html

 

Weaker Singapore economy posts just 0.5% Q2 growth

 

SINGAPORE’S economy grew weaker than expected, after it posted just 0.5 per cent growth in the second quarter of 2011, according to flash estimates by the Trade and Industry Ministry.

Manufacturing was the main drag on the growth rates, declining 5.5 per cent in the March to June period compared to 2010.

more>>>

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_690504.html

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1140802/1/.html

 

S’pore investor confidence at one-year high

 

Singapore investor confidence has climbed to its highest peak since June last year, according to financial firm Friends Provident International (FPI).

It said in its July Investor Attitudes report that investor confidence, as measured by the Friends Investor Attitudes Index, rose to 21 points from 16 points a year ago.

More than 60 per cent of local investors surveyed believe that the Singapore investment market has improved in the last six months.

Meanwhile, 57 per cent believe that the markets will continue to improve over the next six months.

Gold and cash remain the two most favoured asset classes in the second quarter of this year.

more>>>

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1141565/1/.html

 

Inflation in Singapore climbs, up 5.2% in June

 

INFLATION is climbing, with June’s consumer price index (CPI) coming in at 5.2 per cent over the same period last year, close to January’s peak levels of 5.5 per cent.

This was flagged by the Monetary Authority of Singapore (MAS) last week. Mr Ravi Menon, managing director of the MAS, said that consumer prices will be above 5 per cent over the next few months, before trending down towards the end of the year.

According to the Department Of Statistics, the main contributors for the rising inflation are housing and transport costs – which make up 25 per cent and 16 per cent, respectively, of the CPI basket that is used to track price changes.

Housing costs rose 8.8 per cent year-on-year, due to pricer accommodation and electricity tariffs. Higher petrol and car prices also saw transport costs increase by 10.4 per cent.

Only the communications component saw a decrease of 1.6 per cent, as internet subscription fees fell.

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_694760.html

 

Online registry launched for casual workers in hotel industry

 

The Singapore Hotel Association (SHA) has said the industry is experiencing an "acute manpower shortage", and the industry is increasingly looking to casual workers and part-timers to fill the gaps.

The severe manpower shortage is especially seen in housekeeping and F&B.

Together with the Employment and Employability Institute (e2i), the SHA has set up an online registry to link hotels with job-seekers interested in casual work.

more>>>

http://www.hotelparttimejob.com.sg/

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1142933/1/.html

 

Consumer price index fell in June

 

The consumer price index in June 2011 fell slightly by 0.2 per cent over May 2011,
primarily due to lower costs of housing as well as clothing & footwear. Excluding
accommodation costs, the consumer price index remained unchanged in June 2011.

more>>>

http://www.singstat.gov.sg/news/news/cpijun2011.pdf

 

Singapore has highest parking rates in SEA

 

SINGAPORE has the most expensive parking rates in South-east Asia, according to research released on Tuesday.

Singaporean commuters pay an average of US$24.59 (S$30.40) a day, compared to commuters in Tokyo who pay an average of $62 a day.

However, Singapore does not rank within the top 50 daily parking rates in the world.

The Colliers International Parking Rate Survey has Oslo at the priciest place to park at $89.04 a day, followed by Copenhagen at $73.11, and Melbourne at $69.53.

Jakarta has the cheapest daily parking of the 156 cities surveyed, at just 92 cents a day. — AFP

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_695236.html

 

S’pore shoppers becoming more price-sensitive

 

Singaporean shoppers are becoming more price-sensitive and value-conscious as they deal with the impact of rising costs of living.

According to Nielsen’s latest annual Shopper Trends report, 62 per cent of shoppers polled claimed they know the prices of most grocery items and noticed when price changes, making them the second most price-sensitive shoppers in Southeast Asia after Malaysia.

Overall, 63 per cent of Singaporeans indicated they are promotion-seekers when it comes to shopping for food, groceries and personal care items.

Twelve per cent of Singaporeans will change stores due to promotions, while 45 per cent of shoppers will search for promotions. Six per cent of shoppers said they will buy different brands on promotions.

The survey showed that the average household expenditure on food, groceries and personal care items is on a downward trend across all income groups.

Nielsen said this indicates that Singaporean shoppers are more cautious in their spending.

On average in 2010, households spent S$539 on food, groceries and personal care items monthly, of which over half is spent on fresh food.

This represents a seven per cent decline from 2009 and a four-year low.

Supermarkets continue to have the biggest market share (70%) as they remain the key channel for shoppers to buy their food items, followed by convenience stores (10%).

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1143289/1/.html

 

Jurong area to offer more retail options

 

The retail scene in the Jurong Gateway area is set to become more vibrant with the addition of Jem, developed by Lend Lease.

The Jurong Gateway area will soon be transformed, as it rides on the development of the surrounding Jurong Lake District.

While analysts do not expect rents in suburban malls to grow at rates above city malls, competition for space has seen tenants in city malls venture into the suburban fringes.

And Singapore’s third largest suburban shopping mall will be in Jurong Gateway.

Called Jem, the new mall will open in the second quarter of 2013, with 818,000 square feet of gross floor area, half of which is already leased out to anchor tenants including Cathay Cineplex, Robinsons and NTUC FairPrice.

The development will also have an office space tower with 345,000 square feet of gross floor area. The office space has been fully leased by three tenants – the Ministry of National Development, Agri-Food and Veterinary Authority and the Building and Construction Authority.

Lend Lease is targeting 20 million visits per year when Jem opens, tapping on the 20 per cent of Singapore’s population residing in that area.

more>>>

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1143431/1/.html

 

Unemployment up to 2.1% in second quarter

 

SINGAPORE’S unemployment crept up to 2.1 per cent in the second quarter of this year, from a three-year low of 1.9 per cent in the previous quarter.

The 22,800 jobs created between April and June represented a 19 per cent fall from the previous quarter and is a second consecutive quarter-on-quarter decline in employment growth.

The services sector alone accounted for the drop, with new jobs in that sector falling from 26,500 to 18,800. Job creation picked up speed in the other two sectors – manufacturing and construction.

more>>>

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_696457.html

http://www.mom.gov.sg/newsroom/Pages/PressReleasesDetail.aspx?listid=373

 

Last 12 stations of Circle Line to open on Oct 8

 

THE final 12 stations on the western arc of the Circle Line will open on Oct 8.

These 12 stations, which run from Marymount to Harbour Front, complete the 33.3km, 28-station Circle Line.

The fully-opened Circle Line is expected to relieve congestion on the North-South and East-West MRT lines by 10 to 15 per cent. Daily ridership is expected to be 400,000.

more>>>

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_697408.html

http://app.mot.gov.sg/News_Centre/Latest_News/NewsID/01810FFF6CF52639/Speech_by_Mr_Lui_Tuck_Yew,_Minister_for_Transport,_at_visit_to_New_Circle_Line_Stations,_01_August_.aspx

 

Consumer confidence at its lowest since 2010

 

CONSUMER confidence here has dipped to its lowest level since the beginning of last year amid concerns such as rising food prices weighing heavy on consumers’ minds.

The Nielsen Global Consumer Confidence Index for Singapore fell six points to 103 in the three months to June compared to the quarter before, heralding a potential slowdown in consumer spending, the firm said.

A number above 100 indicates positive consumer sentiment, while a figure below 100 indicates pessimism.

more>>>

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_698267.html

 

The place to be: Singapore beats all Asian cities as top convention venue

 

Singapore was named Asia’s Top Convention City and ranked fifth globally next to Vienna, Barcelona, Paris, and Berlin.

According to a Singapore Tourism Board release, 136 rotating events were held in Singapore in 2010, representing more than 14 percent growth over the events that qualified in 2009. STB also noted that Singapore attracted 3.1 million business travellers in 2010, which accounted for 27 percent of all visitors to Singapore, spending about S$ 5.4 billion.

more>>>

http://sbr.com.sg/hotels-tourism/news/place-be-singapore-beats-all-asian-cities-top-convention-venue

U-Save Rebates In July 2011

 

The rebates are part of the five-year GST Offset Package announced in 2007. The final tranche of U-Save rebates will be paid in January 2012.

 

SOURCE>>>

http://app.mof.gov.sg/newsroom_details.aspx?type=press&cmpar_year=2011&news_sid=20110630744031687808

PUB to launch SMS alert service

Keeping the Public Informed

 

PUB will open its SMS Alert on Water Levels service for public subscription by 1 July 2011. Currently, the public can access information on the water levels of the canals at PUB’s website (www.pub.gov.sg/managingflashfloods). Such alerts will also be posted on PUB’s Facebook (www.facebook.com/PUBsg) and Twitter (http://twitter.com/pubsingapore) with immediate effect.

MORE>>>

http://app.mewr.gov.sg/web/Contents/Contents.aspx?Yr=2011&ContId=1462

Singapore Flooding: Danger Spots

 

A list of danger spots can be found on googlemaps with information of previous flooding occurrences.

 

The south/central area seems to be the most prone to floods.

 

 

Link to Googlemaps

 

http://maps.google.com/maps/ms?ie=UTF8&hl=en&msa=0&msid=212213306112654920379.0004a502c0e6dd63eb329&z=13

 

MORE>>>

Heavy and intense rainfall causes flash floods at MacPherson, Bukit Timah and Orchard areas

http://www.pub.gov.sg/mpublications/Pages/PressReleases.aspx?ItemId=294

PUB statement on Mandalay Road Incident

http://www.pub.gov.sg/mpublications/Pages/PressReleases.aspx?ItemId=291

Heavy rain causes flash floods in Singapore [5th June 2011]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1133302/1/.html

PUB explains flash floods

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1133345/1/.html

HDB to look into the possibility of allowing cats in flats

 

 

The Government will look into the possibility of allowing cats in HDB flats, Minister of State (National Development and Manpower) Tan Chuan-Jin told MediaCorp yesterday.

Brigadier-General (NS) Tan was responding to MediaCorp’s queries following National Development Minister Khaw Boon Wan’s blog post yesterday on encouraging cats to be sterilised instead of being culled.

Adding that BG (NS) Tan will help him tackle the issue – given the former’s interest in this area – Mr Khaw said he would like the Agri-Food and Veterinary Authority of Singapore (AVA) to "seriously consider reviewing its culling programme for cats".

Mr Khaw noted that killing the cats was not the best solution. The right thing to do is for cat lovers to own the problem and to eliminate problems caused by irresponsible behaviour, he added.

When contacted last night, BG (NS) Tan said that allowing cats to be kept in HDB flats was one of the issues they were looking into.

MORE>>>

http://www.catwelfare.org/drupal/node/4546

CPF Minimum Sum Increase To $131,000 From 1 July 2011

From 1 July 2011, the CPF Minimum Sum (MS) will be revised to $131,000, up from $123,000.

CPF members who can set aside the MS fully in cash can apply to commence their monthly payouts of $1,170 when they reach their draw down age. The new MS will apply to CPF members who turn 55 from 1 July 2011 to 30 June 2012.

From 1 July 2011, the Medisave Minimum Sum (MMS) will also be raised to $36,000 from $34,500.

CPF members will be able to withdraw their Medisave savings in excess of the MMS at or after age 55. The maximum balance a member may have in his Medisave Account, known as the Medisave Contribution Ceiling (MCC), is fixed at $5,000 above MMS and this would be increased correspondingly to $41,000 from $39,500.

Yishun: Sembawang, Nee Soon GRCs to merge town councils

 

Residents in Singapore’s HDB estates will come under 15 town councils which have been formed after the last general election. Some old names like the Jalan Besar and Hougang town councils have been dissolved while the divisions of two GRCs – Sembawang and Nee Soon have been merged to formed a super town council.

Members of Parliament of the Sembawang and Nee Soon GRCs have decided to combine their joint resources to come up with a mega town council – the Sembawang-Nee Soon Town Council (SNTC). The Sembawang-Nee Soon Town Council will be chaired by Mr Hawazi Daipi.

In an email response, MP for Sembawang GRC, Vikram Nair said: "The main benefit would be economies of scale, which can lead to cost savings. A large town council would have more bargaining power in relation to subcontractors and can spread out fixed overheads over a larger scale. Also, as mentioned above, disruption to residents would be minimised because SNTC is essentially serving the same areas it previously served.

"The notice boards at each block would have the telephone numbers of not only the Sembawang-Nee Soon Town Council general line, but also details of the property manager in charge of their specific areas. Residents can also provide feedback, seek help by email, Facebook or SMS. Finally, residents can also approach the town council at any of the three town council offices in the area."

MORE>>>
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1131676/1/.html

Singapore News: 25th Mar – 31st May 2011

 

New S’pore citizens to go through mandatory programme

 

All new Singapore citizens must go through a three-component mandatory programme known as "The Singapore Citizenship Journey" – which must be completed in two months – before they get their pink IC.

The programme includes a lesson at Parliament House on governance and the rule of the law, as well as a tour to the URA Centre and National Museum.

A second component is a meeting with grassroots leaders and new citizens who have settled in.

Participants will also have to go through a mandatory online course called the e-journey.

It comprises five sections, covering Singapore’s history, national symbols, and key policies such as national service.

MORE>>>

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1118855/1/.html

 

Singapore economy up 8.5% in Q1

 

SINGAPORE’S economy grew by a robust 8.5 per cent in the first quarter of this year, the Trade and Industry Ministry said.

The economy expanded by 23.5 per cent in the first quarter of 2011, on a quarter-on-quarter basis.

MORE>>>

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_657024.html

 

CPI increased by 0.1% in March 2011

 

The consumer price index in March 2011 rose marginally by 0.1 per cent over
February 2011. The higher costs of housing, clothing & footwear, and “recreation
& others” were partly offset by the lower cost of transport. Excluding
accommodation costs, the consumer price index remained unchanged in March
2011.

Compared to a year ago, the consumer price index went up by 5.0 per cent in
March 2011, resulting mainly from higher costs of transport, housing and food.
Excluding accommodation costs, the consumer price index was 4.2 per cent higher.

The core inflation measure tracked by the Monetary Authority of Singapore (MAS)
was 0.1 per cent on a month-on-month basis. The MAS

MORE>>>

http://www.singstat.gov.sg/news/news/cpimar2011.pdf

 

Unemployment drops to 3-year low

 

SINGAPORE’S unemployment rate dropped to a three-year low in March, with 23,700 jobs created in the first quarter of this year.

The overall jobless figure is now 1.9 per cent, down from 2.2 per cent in December 2010, according to preliminary estimates released by the Ministry of Manpower (MOM) on Friday.

MORE>>>

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_663041.html

 

May 6 – 9 hottest days of the year so far

 

SINGAPORE has just sweated through the year’s hottest period so far – the four-day stretch from Friday last week to Monday.

Sunday was the most sweltering day in six years, with the mercury hitting 35.3 deg C.

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_667723.html

 

S’pore drops to 3rd place in world competitiveness

 

Singapore has dropped from first to third place, behind Hong Kong and the United States, in the 2011 World Competitiveness Rankings published by Swiss business school IMD.

Hong Kong and the US tied for the first spot in the rankings of 59 countries.

Among the top 20 countries, Qatar made the best leap forward, jumping seven spots to eighth place this year.

Only four of the big economies – Canada, Germany, the United States and the United Kingdom – were in the top 20.

The US secured first place as it was "rescued" by its business efficiency, according to a statement released IMD.

Ranked against other countries, Singapore scored the highest marks for institutional framework, international trade and labour market.

It also fared well in public finance (3rd place) and economic performance (5th place).

MORE>>>

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1129684/1/.html

 

CPI in April 2011 rose 0.3 per cent

 

The consumer price index in April 2011 rose by 0.3 per cent over March 2011, on
account of higher costs of transport, “recreation & others” and food. Excluding
accommodation costs, the consumer price index was 0.9 per cent higher.

Compared to a year ago, the consumer price index increased by 4.5 per cent in
April 2011, reflecting mainly higher costs of transport, housing and food.
Excluding accommodation costs, the consumer price index went up by 4.2 per
cent.

The core inflation measure tracked by the Monetary Authority of Singapore (MAS)
was 0.6 per cent in April 2011 on a month-on-month basis. On a year-on-year basis,
the MAS core inflation measure was 2.2 per cent.

MORE>>>

http://www.singstat.gov.sg/news/news/cpiapr2011.pdf

Singapore News: 15th Feb to 23rd Mar 2011

 

Gardens by the Bay reaches first milestone

 

Singapore’s latest national project, Gardens by the Bay, overcame funding difficulties to reach its first milestone on Tuesday with the capping of one of its two giant conservatories, the Flower Dome.

MORE>>>

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1110953/1/.html

http://www.gardensbythebay.org.sg/

 

Singapore ranks 3rd most expensive city in Asia

 

Singapore is the third most expensive location in Asia to live in, according to the latest accommodation reports from consultancy firm ECA international.

Taking the top spot is Tokyo, followed by Hong Kong in the second place, and Seoul clinching the fourth spot.

MORE>>>

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1110907/1/.html

 

Singapore growth forecast at 4-6% in 2011

 

THE Ministry of Trade and Industry (MTI) announced on Thursday that it expects Singapore’s economy to grow between 4 to 6 per cent in 2011, with the continuing recovery of the global economy.

But accompanying another year of strong growth, the MTI warned that its inflation forecast for the year was revised to 3 to 4 per cent, up from 2 to 3 per cent.

MORE>>>

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_635825.html

 

CPF to continue with 2.5% OA interest payout

 

The CPF Board will continue to pay 2.5 per cent annual interest for Ordinary Account (OA) savings between April and June this year.

The computed CPF interest rate derived from the major local banks’ interest rates for the three-month period, Nov 1 last year to Jan 31, worked out to be 0.38 per cent per annum.

However, the higher rate of 2.5 per cent will be paid as the CPF Act provides for a minimum CPF interest rate of 2.5 per cent per annum.

The concessionary interest rate for HDB mortgage loans, which is pegged at 0.1 percentage point above the CPF interest rate for the OA, will remain unchanged at 2.6 per cent a year for the same period.

http://www.todayonline.com

 

Singapore’s external trade rose by 21 per cent in 2010

 

Singapore’s total trade rose by 21 per cent to reach S$902 billion in 2010 after a decline of 19 per cent in 2009. The expansion in external trade can be attributed to an increase in both exports and imports.

MORE>>>

http://www.iesingapore.gov.sg/wps/portal/PressRelease?WCM_GLOBAL_CONTEXT=/wps/wcm/connect/ie/My+Portal/Main/Press+Room/Press+Releases/2011/Review+Of+2010+Trade+Performance+And+Revised+Outlook+For+2011

 

   

Government sets aside more resources to help households

 

The government is setting aside more resources in the Budget to help lower- and middle-income households secure their long-term future.

These include more education subsidies and support for the elderly.

The government is giving S$500 million towards the S$1.9 billion Medifund, which is currently used to help the needy pay for medical bills after they have exhausted their Medisave and Medishield allowances.

Taken as a whole, the government said an average Singaporean household will receive S$3,000 from this year’s Budget. This is more than double the increase a household may see in their household expenses this year.

MORE>>>

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1111673/1/.html

 

Employers hiring S-Pass holders to pay an average of $240 more

 

The number of S-pass holders almost doubled in the last four years to 98,000, and employers seeking to hire these mid-skilled foreign workers can expect to pay an average of $240 more per worker per month between now and 2013, the Manpower Ministry said.

The first levy tier for the proportion of S-pass workers allowed, before a higher rate kicks in, will also be lowered to 10 per cent in July next year, from the 15 per cent announced last year.

S-pass holders must have at least a diploma and be paid no less than $1,800. They are also assessed on other criteria such as skills, job type and work experience.

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http://www.todayonline.com

 

Household size decreases, proportion of households with elderly increases

 

The shift towards smaller households was most prominent for Chinese
households. The proportion of Chinese households with fewer than 4 members
increased from 46 per cent in 2000 to 54 per cent in 2010.

MORE>>>

http://www.singstat.gov.sg/pubn/popn/C2010sr2/cop2010sr2.pdf

 

Budget 2011: New hospital in Sengkang by 2020

 

The new general hospital that has been planned in Sengkang to serve residents in northeastern Singapore will be ready by 2020 and will come with adjoining community hospital facilities.

Mr Khaw also revealed that the upcoming Jurong General Hospital (JGH) will be named the "Ng Teng Fong Hospital" following a private donation of S$125 million from the family of the late property tycoon. Mr Ng is the founding chairman of the Far East Organization and Sino Group. The hospital will be ready in 2014.

The new general hospital in the northeast will be located along Sengkang East Road right next to the Cheng Lim LRT station. It will also be within walking distance of Sengkang MRT Station.

Next to the general hospital will be a community hospital that will provide sub-acute care and rehabilitative services for patients.

Putting in place a general hospital and community hospital side by side is a model similar to the new Khoo Teck Puat Hospital (KTPH) in Yishun and the upcoming Ng Teng Fong Hospital.

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http://www.channelnewsasia.com/stories/singaporelocalnews/view/1114386/1/.html

 

Revised Maintenance of Parents Act to adopt a ‘conciliation first’ approach

 

The amended Act adopts a ‘conciliation first’ approach, with legal action as a last resort. The Commissioner for the Maintenance of Parents (CMP) will play a more active role in helping parents and children resolve maintenance disputes by conciliation and non-legal means. The CMP and the Tribunal for the Maintenance of Parents (TMP) will also be empowered to access information from government agencies for the purposes of identifying and locating children, and assessing their means to maintain their parents.

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http://app1.mcys.gov.sg/PressRoom/ConciliationFirstapproachunderrevisedMPA.aspx

Singapore News: 24th Jan – 8th Feb 2011

 

Road-raising works at Orchard Road 8% completed

 

Road-raising works are expected to be completed in June 2011, contractors are working from midnight to 6 am to minimise disruptions to traffic.

The works along the 1.4-kilometre stretch of Orchard Road are split into three stages:

1] Kerbs along the roads have to be raised – and they have already been 90 per cent completed.

2] Roads have to be raised by 10 centimetres initially.

3] Roads will be layered by another 20 centimetres in height.

As of now, only half of Scotts Road has been completed – that is eight per cent of the project.

MORE…

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1106587/1/.html

 

S’pore slips to 3rd spot in globalisation ranking

 

Singapore has slipped to third spot in the rankings for the most globalised economies in the world last year.

The republic comes behind Hong Kong, which took the top spot, followed by Ireland, in the latest Ernst & Young Globalisation Index.

The index measures the world’s 60 largest economies based on their degree of globalisation relative to their GDP.

Singapore took top spot in the index in 2009.

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http://www.channelnewsasia.com/stories/singaporelocalnews/view/1106576/1/.html

 

Consumer Price Index rose by 0.2% in December

 

For the year 2010, the consumer price index rose by 2.8 per cent compared with
2009. Excluding accommodation costs, the consumer price index for 2010 grew by
3.3 per cent.

MORE…

http://www.singstat.gov.sg/news/news/cpidec2010.pdf

 

MAS reiterates inflation to remain high in H1

 

MAS said it has received a number of queries on the issue of rising inflation, which remains high due to the recent surge in COE premiums and global food prices.

The central bank, however, said it expects headline inflation to moderate in the second half of the year.

Singapore’s Consumer Price Index (CPI) rose 4.6 per cent in December, from a 3.8 per cent rise in the month before.

MORE…

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1107094/1/.html

 

Singapore’s overall crime fell by 0.6% in 2010

 

Overall Crime reported fell by 0.6% (or -200 cases), from 33,186 cases in 2009 to 32,986 cases in 2010.

 

Three of the six crime classes registered decreases in 2010 as compared to the year before:

1] Violent Property Crimes (- 186 cases or -25%),

2] Housebreaking and Related Crimes (- 129 cases or -13%)

3] Theft and Related Crimes (-962 cases or -5%)

 

Three of the six crime classes registered increases in 2010, compared to 2009: 

1] Commercial Crimes, comprising mainly cheating and related offences, registered an increase of 13 % (or +448 cases), from 3,359 cases to 3,807 cases

2] Crimes Against Persons, which refers to crimes where the victim suffers bodily harm as a result of the crime, registered an increase of 8 % (or + 365 cases), from 4,422 cases to 4,787 cases

3] Miscellaneous Crimes, comprising various offences such as vandalism, trespassing and disorderly behavior, registered 3,448 cases in 2010, up from 3,184 cases in 2009 (+264 cases or + 8 %)

 

Continued prevalence of Rental Scams

A total of 231 Housing Fraud cases involving the bogus rental of residential premises were noted in 2010, an increase of 40 cases (or +21%) compared to 2009. These rental scam cases accounted for 11% of the total number of cheating cases in 2010. A total of 55 persons were arrested in 2010 for their involvement in at least 74 rental scam cases.

In these cases, victims were usually cheated of advance rental payments by culprits who claimed they have a flat/unit for rental. The modus operandi typically employed includes:

a. Claiming to be owner/agent

In some cases, culprits claimed to be the owner of the flat unit or agent with a unit to be rented and the transactions involved the rental agreement and a sum of money to be paid upfront as a deposit or the rental amount. However, when the victims tried to move in on the agreed date, they realised that the person who rented the flat to them could not be contacted. The victims subsequently learnt from the real flat owner that the culprit who rented the unit to them is actually a tenant.

b. Multiple tenants

In some other cases, culprits (real flat owner) rented the flat to several tenants. Hence, when victims tried to move in on the agreed date, they realised they were cheated.

MORE…

http://www.spf.gov.sg/mic/2011/110126_annual_crime_brief.htm

 

Record job vacancies last year

 

The number of job vacancies rose 36% over the year to 50,200 in September 2010.

According to the latest annual job vacancies report released by the Ministry of Manpower (MOM) on Friday, the rise in vacancies was driven by Singapore’s rapid and robust economic recovery.

In fact, MOM said it was the highest number of job vacancies recorded since the comparable series started in March 2006.

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http://www.channelnewsasia.com/stories/singaporelocalnews/view/1107526/1/.html