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CFO not one to chicken out of skills upgrading

elean
1 minute

Chief financial officer (CFO) Koh Ing Chin may hold the same job title he had in his previous company, but his job scope is quite different. His role at poultry producer Kee Song Food Corporation now demands more management and leadership capabilities, beyond financial management knowledge. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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It always pays to take sabbaticals and vacations

elean
5 minutes

(BLOOMBERG) - No sooner had Citigroup announced its new sabbatical policy - 12 weeks at 25 per cent pay for employees who'd been at the bank at least five years - than the debate erupted: In the highly competitive world of finance, would it be a career killer to take advantage of that kind of deal? I'm not surprised some people asked. In 2018, the average American full-time employee earned 23 paid days off a year, but used only 17 of them, according to a study funded by the non-profit US Travel Association (USTA) using data from the Bureau of Labour Statistics and Bureau of Economic Analysis. That's six days of paid time off (PTO) left on the table - the equivalent of handing a week's salary back to your employer. When you consider that the United States has the rich world's stingiest vacation policies, this becomes even more depressing. Other forms of paid leave - like family leave - also see a significant number of people leaving time on the table. Especially men. Clearly, Americans think they can't afford to take time off, even when their firms are paying them to take it. But in many years of looking, I've seen no data to suggest such fears are justified. Some research on Americ...

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Struck with rare disease at 27, he built the region’s leading e-sports platform

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1 minute

SINGAPORE - It was news that would knock the wind out of anyone's sails but especially brutal for a go-getting 27-year-old. In August, 2017, Ivan Yeo was told he had Kennedy's disease, a rare muscular degeneration disorder that causes, among other things, progressive weakening and wasting of the limb and facial muscles. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Starting a home business

elean
1 minute

Ask almost anyone and they probably know someone running a home-based business (HBB), whether as an alternative source of income after being retrenched or an entrepreneurial dream. Such enterprises are certainly more visible now due to the increasing use of social media, especially during the Covid-19 pandemic. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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A way for designer to keep inspiring her team

elean
1 minute

Running a small design firm means Ms Kelley Cheng has to do everything from managing IT systems to planning social media marketing strategy, besides her own design work. But the founder and creative director of publishing and design consultancy The Press Room said she makes time to learn something new every day, whether it is picking up a new software or reading up on current affairs and pop culture. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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NKF launches new initiative to raise awareness of kidney health

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4 minutes

SINGAPORE - The National Kidney Foundation (NKF) launched a new initiative on Saturday (Jan 9) to encourage people to undertake projects raising awareness of kidney health and to reduce the number of kidney-related diseases. Known as the Kidney We Care Movement, the initiative was launched in the light of the rising number of kidney failure cases in Singapore, with 5.5 new daily cases needing dialysis or kidney transplant for survival. For the past five years, NKF has admitted a yearly average of 855 new dialysis patients, and spent $116 million in its last financial year to treat kidney failure. Currently, Singapore has more than 8,000 patients on dialysis, with around two-thirds under the care of NKF. Kidney failure is mainly caused by diabetes and hypertension, and Singapore has one of the highest rates in the world for diabetes-related kidney failure. The number of diabetes cases is projected to grow to one million by 2050 if more preventive measures are not taken. As such, the Kidney We Care Movement will focus on three aspects: Project 5.5, which will aim to reduce the number of kidney failure cases, and related diseases like diabetes and hypertension; Project Hope, which wil...

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Morning Briefing: Top stories from The Straits Times on Jan 9

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2 minutes

Good morning! Here are our top stories to kick-start your Saturday, Jan 9. Govt to pass law to ensure TraceTogether data can be used only for serious crimes The Government also acknowledged its error in not stating earlier that such data can be used for criminal probe. READ MORE HERE Covid-19 vaccine 101: All you need to know, from what to expect to how safe it is From safety to efficacy and the nation's vaccination strategy, Insight answers all the key questions. READ MORE HERE Twitter permanently suspends Trump's account "We have permanently suspended the account due to the risk of further incitement of violence," Twitter said. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Experts and lawmakers aghast at US Capitol security failure As many as 60 Capitol Police officers were injured in the mayhem, many hit with lead pipes. READ MORE HERE Three million masks every minute: How Covid-19 is choking the planet Did you know that the surge in the use of disposable masks could lead to a growing environmental problem that may last much longer than the pandemic itself? READ MORE HERE S'porean man is 3rd Covid-19 community case found among Crow...

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Health Check Podcast: Get healthy living tips for 2021

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2 minutes

Fortnightly on Wednesdays, get healthier living tips as The Straits Times' senior health correspondent Joyce Teo chats with expert guests. These are the best episodes of our Health Check Podcast series so far. Health Check Ep 6: Can soursop or ketogenic diets be used to treat and control cancer? (featuring Dr Wong Seng Weng, medical director and consultant medical oncologist at The Cancer Centre) Health Check Ep 45: How to age well and achieve a lower biological age (featuring anti-ageing expert, Prof Brian Kennedy, the director of the NUHS Centre for Healthy Longevity) Health Check Ep 46: Is there such a concept as an anti-ageing diet? (featuring anti-ageing expert, Prof Brian Kennedy, the director of the NUHS Centre for Healthy Longevity) Health Check Ep 15: Forget about raising your good cholesterol? (featuring Dr Michael Lim, the medical director of MWH Heart, Stroke & Cancer Centre) Health Check Ep 39: Smokers at higher risk during Covid-19 times (featuring Dr Lambert Low, a consultant at the National Addictions Management Service at the Institute of Mental Health) Health Check Ep 16: How to get your hawker food fix without risking a heart attack (featuring Dr Michael Lim, the...

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US stocks end at records again as Biden eyes more stimulus

elean
2 minutes

NEW YORK (AFP) - Wall Street stock indices closed at records again Friday (Jan 8) as anticipation of a new fiscal relief package offset poor December jobs figures. The Dow Jones Industrial Average climbed 0.2 per cent at 31,097.97, its third straight record. The broad-based S&P 500 gained 0.6 per cent to 3,824.68, while the tech-rich Nasdaq Composite Index jumped 1.0 per cent to 13,201.98 - all-time highs for both indices. The United States lost 140,000 jobs in December, according to government data, as the worsening coronavirus pandemic undermined the economy's recovery and caused the first loss in employment since April. But investors took heart as President-elect Joe Biden pledged a wide-ranging fiscal package to support the coronavirus-ravaged US economy. "We need more direct relief flowing to families, small businesses, including finishing the job of getting people the $2,000 in relief direct payment," Biden said at an event after naming new Cabinet nominees. US stocks have rallied this week in spite of chaos in Washington after supporters of outgoing President Donald Trump stormed the nation's Capitol building in an unsuccessful effort to block Biden's election victory from b...

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Banks enhance e-payment services as sector opens up

elean
1 minute

Consumers can expect a wider variety of digital payment services this year as traditional players enhance their offerings amid greater competition in the banking sector. DBS Bank, OCBC Bank and UOB plan to roll out more personalised content, strengthen their focus on partnerships and make the payment journey more seamless for users. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Sembcorp unit bags solar power project in India

elean
2 minutes

Sembcorp Industries' India energy arm Sembcorp Energy India Limited (Seil) has clinched a 400MW solar power project through its renewables subsidiary, Sembcorp Green Infra. The energy and utilities group announced yesterday that Seil won the bid in a "closely contested" auction conducted by the Solar Energy Corporation of India (Seci). Seil will develop the project in the northern Indian region of Rajasthan, which will be connected to the state's transmission utility. The project's entire output will be sold to Seci under a 25-year long-term power purchase agreement. The project is expected to be ready for commercial operation by the middle of next year and will be funded through a mixture of internal funds and debt, said Sembcorp in its pre-market filing. This project win brings Sembcorp's renewables portfolio to over 3,000MW in operation and under development across Singapore, China and India. It is another step towards transforming Sembcorp's portfolio, said the company's group president and chief executive Wong Kim Yin. "India is a key market and we will continue to provide sustainable solutions to contribute to the nation's clean energy mission," he added. Seil has completed t...

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Las Vegas Sands chief takes leave for cancer treatment

elean
3 minutes

NEW YORK • Sheldon Adelson, the chairman and chief executive officer of Las Vegas Sands, which owns Singapore's Marina Bay Sands, is taking a leave of absence after resuming treatment for cancer. Mr Adelson had retained his executive role since the company revealed in 2019 that he had non-Hodgkin's lymphoma. Company president Robert Goldstein will take up Mr Adelson's duties as acting chairman and acting CEO, according to a statement on Thursday. Mr Adelson, 87, is the company's majority shareholder and one of the world's biggest gambling moguls, overseeing operations from the Las Vegas Strip to Macau to Singapore. He is a prominent donor to Republican politics in the United States, having backed outgoing President Donald Trump. The appointment is unlikely to cause changes in the group's strategic direction or operations at its Sands China arm, which is run by a local management team, according to gaming analyst D.S. Kim of JPMorgan Chase & Co. The impact on Sands' relations with Macau and Beijing "may be open for debate, but we similarly see no negative impact on its positioning in the market", Mr Kim wrote in a research note on Thursday. He said Mr Goldstein has long been in posi...

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Full refunds for hotel guests after cases at Crowne Plaza Changi

aseanpr
4 minutes

Guests at the Crowne Plaza Changi Airport who wish to cancel their bookings can do so at no charge, the hotel said after two Covid-19 cases among its staff forced it to close for two weeks. Those with pre-paid reservations will receive a full refund, it said in a statement to The Straits Times. They will also be given the option of staying in another hotel under its parent, the InterContinental Hotels Group (IHG). A third linked case was confirmed by the Ministry of Health (MOH) yesterday, with a special operation under way to test 234 staff working at the hotel. The latest case is a 20-year-old Singaporean who works at Azur, a restaurant in Crowne Plaza Changi Airport. The man was identified as a close contact of the first case at the hotel, and quarantined on Tuesday. He developed symptoms on Thursday, was swabbed and found in preliminary tests to be positive for the more infectious B117 strain. MOH said that of the 233 hotel staff who have been swabbed, 129 test results have come back negative. The rest are pending. The hotel said its current guests will be given the option to move. A spokesman said: "If they prefer to check out before the end of their stay, they will be compens...

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UOB references Sora in pricing its capital securities

elean
2 minutes

UOB has broken new ground here by pricing capital securities with a reset coupon rate that references the Singapore Overnight Rate Average Overnight Indexed Swap (Sora-OIS) rate. The move is another step towards the adoption of a Sora-based pricing benchmark in the Singdollar bond market, and part of broader industry efforts to develop robust Sora-based cash and derivatives markets. The reset coupon rate of UOB's perpetual, non-call five-year additional Tier 1 securities on the first call date will reference the five-year Sora-OIS rate instead of the five-year Swap Offer Rate (SOR) interest rate swap (IRS) that had been the benchmark reference rate in the market. This comes as Singapore is moving from SOR to Sora as the new interest rate benchmark, given that the London Interbank Offered Rate (Libor) will be discontinued at the end of this year, which would affect SOR as it uses the US dollar Libor in its computation. Sora was picked as the new benchmark as it was found to be the most robust and suitable alternative, underpinned by a deep and liquid overnight funding market. It is expected to be the de facto floating rate benchmark for all institutional Singdollar financing activit...

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‘Painless’ vaccine jab for PM Lee as nationwide drive gets under way

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5 minutes

Prime Minister Lee Hsien Loong rolled up his sleeve for the Covid-19 vaccine injection yesterday, as the nationwide vaccination effort to combat the coronavirus swung into high gear. A left-hander, PM Lee was administered the shot in his right arm by nurse Fatimah Mohd Shah, and experienced no side effects despite a 30-minute precautionary wait. "It is painless, it is effective and it is important," he told reporters at Singapore General Hospital (SGH), where he received his first dose of the Pfizer-BioNTech vaccine, the only one to be approved here so far. "I hope that Singaporeans will take it up as we roll it out." The Health Ministry's director of medical services Kenneth Mak, as well as 88 healthcare staff, also received their shots yesterday, as the vaccination drive for healthcare workers and front-line staff gets under way. The vaccine is free and will be rolled out progressively, with most people here able to get vaccinated by the end of the year. The elderly, those at greater risk of severe disease and those in jobs or settings with a high risk of super-spreading events will be able to receive the Covid-19 jabs from next month. Widespread vaccinations will be critical in ...

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Jail for housewife with Covid-19 who failed to disclose meetings with male friend

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1 minute

SINGAPORE - A housewife diagnosed with Covid-19 on Feb 26 last year did not tell a Ministry of Health (MOH) officer doing contract tracing that she had met a close male friend multiple times earlier that month. For that, Oh Bee Hiok was sentenced on Friday (Jan 8) to five months' jail. She had pleaded guilty to an offence under the Infectious Diseases Act. A district court heard that the 65-year-old Singaporean met Mr Lim Kiang Hong, 71, five times between Feb 4 and 20 last year. The Singaporean man was diagnosed with Covid-19 the following month. In pleading for his client to be given a "stiff fine" instead of a jail term, defence lawyer Goh Teck Wee told District Judge Marvin Bay that Oh did not infect Mr Lim. She, however, did infect her own grandson. For committing the offence under the Act, she could have been jailed for up to six months and fined up to $10,000. More on this topic Related Story Woman who allegedly breached SHN to buy bubble tea among two charged Related Story Courts & Crime: Read more stories

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PM Lee receives Covid-19 vaccine as Singapore starts nationwide vaccination drive

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4 minutes

SINGAPORE - Prime Minister Lee Hsien Loong took the Covid-19 vaccine on Friday (Jan 8) morning, at the start of a nationwide drive to vaccinate staff across various public healthcare institutions. Also vaccinated were the Health Ministry's director of medical services Kenneth Mak, along with 88 healthcare workers from the Singapore General Hospital (SGH). "It's painless, it's effective and it's important," Mr Lee said, speaking to reporters after the 30-minute observation period following the jab was up. "I hope that Singaporeans will take it up as we roll it out." He added: "We've got ample vaccines coming in. We ordered them early, we have enough for everybody in Singapore - all the residents, all the citizens and even the non-citizens who are staying here." The Prime Minister was at SGH to observe the start of inoculations for healthcare workers, and said he took the opportunity to get his own vaccine. He was jabbed in his right arm, as he is left-handed, and will return in three weeks for the second dose. The Pfizer-BioNTech vaccine requires two injections, given 21 days apart, and all who are vaccinated will be issued a vaccination card to remind them of follow-up appointments...

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Sembcorp unit bags new solar power project in India

elean
2 minutes

SINGAPORE (THE BUSINESS TIMES) - Sembcorp Industries' India energy arm Sembcorp Energy India Limited (SEIL) has clinched a 400 megawatt (MW) solar power project through its renewables subsidiary, Sembcorp Green Infra. The energy and utilities group announced on Friday (Jan 8) that SEIL won the bid in a "closely-contested" auction conducted by the Solar Energy Corporation of India (SECI). Under the letter of award from SECI, SEIL will develop the project in the northern Indian region of Rajasthan. It is to be connected to the state's transmission utility, Rajasthan Rajya Vidyut Prasaran Nigam Limited. The project's entire output will be sold to SECI under a 25-year long-term power purchase agreement. It is expected to be ready for commercial operation by mid-2022 and will be funded through a mixture of internal funds and debt, said Sembcorp Industries in its pre-market filing. Sembcorp Industries' latest project win brings the group's renewables portfolio to over 3,000 MW in operation and under development across Singapore, China and India. According to group president and chief executive Wong Kim Yin, it represents another step towards transforming Sembcorp Industries' portfolio. "...

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Samsung flags 26% rise in Q4 profit on chip, display sales

elean
2 minutes

SEOUL (REUTERS) - Samsung Electronics said on Friday (Jan 8) that fourth-quarter operating profit likely rose 26 per cent, in line with analysts' estimates, as pandemic-driven remote working fuelled sales of chips and display panels. The South Korean tech giant said operating profit was likely nine trillion won (S$10.9 billion) in the quarter ended December, offsetting weaker smartphone sales and a strong won versus the US dollar. That was in line with the 9.1 trillion won analyst forecast by Refinitiv SmartEstimate. Revenue at the world's biggest memory chip supplier and maker of smartphones likely rose 1.9 per cent to 61 trillion won from a year earlier, the company said. Samsung provides only estimates of quarterly revenue and operating profit in its preliminary earnings release. The company is due to release detailed earnings later this month. Analysts said they expected Samsung to report a jump in memory chip shipments from the September quarter, offsetting the effect of lower prices. Memory chip prices will likely rebound in the first half of this year, analysts said, as data centre customers return to buying chips, as well as demand from 5G smartphones, notebooks, graphics a...

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Morning Briefing: Top stories from The Straits Times on Jan 8

aseanpr
2 minutes

Good morning! Here are our top stories to kick-start your Friday, Jan 8. US Democratic leaders call for Trump's removal from office as Cabinet member quits House of Representatives Speaker Nancy Pelosi said Mr Trump posed an ongoing danger to the country. READ MORE HERE Facebook, Instagram to block Trump's accounts for rest of his presidential term Social media companies have been under pressure to police misinformation about the US election. READ MORE HERE Crowne Plaza Changi Airport closed for two weeks after second Covid-19 case emerges The hotel staff is a Malaysian woman who delivers pre-packed meals to air crew and hotel guests. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news askST: What do we know so far about children who are infected with Covid-19? Children and young people have a much lower risk of contracting the virus. READ MORE HERE Trust, TraceTogether and treatment of cancer patients How ministers deal with mistakes when things go wrong can erode or strengthen trust, says associate editor Chua Mui Hoong. READ MORE HERE World Economic Forum meeting in Singapore moved to May 25-28 The conference was originally scheduled to ...