S’pore cabbies, private-hire drivers find the going tough even with easing of Covid-19 restrictions

aseanpr 22 11 月

5 minutes

SINGAPORE - Five months after Singapore moved into phase two of reopening its economy in June, taxi and private-hire drivers continue to spend more time roaming the streets without passengers, with some earning just enough to cover costs. Demand for rides remains more lacklustre than last year due to the lack of tourists, shut entertainment venues like nightclubs, the ban on the sale of alcohol after 10.30pm, and many still working from home. There are also fewer instances of surge pricing for private-hire drivers, meaning they have to make more trips to match their pre-Covid-19 earnings. In response to queries from The Sunday Times, the Land Transport Authority said ridership in the first week of this month was at 75 per cent of pre-Covid-19 levels. This figure is on the higher end of estimates by drivers and taxi companies, who said ridership is slightly above 66 per cent of pre-outbreak levels. Taxi driver Shaik Ismail, 39, said he used to make 13 to 14 trips daily in the past two years, when he drove from 7am to 3pm. Now, he struggles to get 10 trips despite driving an extra two hours, stretching his work day to 5pm. He earns $120 a day now, down from $200 last year. Taxi queue...

SeaPRwire

Cabbie hit by plunge in income pushes for pay-as-you-use rental

aseanpr 22 11 月

3 minutes

SINGAPORE - Cabbie Peter Quek used to make 150 trips a week before the pandemic struck. That has fallen by a third to just more than 100 now. The 44-year-old's monthly take-home income is down by half, from $3,000 to $1,500. Thankfully, he qualified for the Self-Employed Person Income Relief Scheme launched in March, which disburses $1,000 per month for nine months. Explaining why his income has fallen by half even though the number of trips has not, the cabbie of 5 1/2 years, who drives 60 hours a week, said: "Pandemic or not, whatever I make in the first few hours of driving goes to covering operating costs. "It's only after about seven hours that I break even for the day, and then begin to earn my income, so the fall in income is disproportionate to the decrease in passengers." Mr Quek, who tracks his expenses and earnings using Excel spreadsheets, said his daily operating costs work out to about $180, after rental relief from the taxi operator and the Government. "This includes 'hidden costs' that others might not consider, like Medisave contributions and income tax deductions," said the single father of two daughters aged 14 and 16. His parents live with him. "Many drivers mig...

SeaPRwire

Travel bubble between HK and S’pore suspended

aseanpr 22 11 月

4 minutes

The launch of the Singapore-Hong Kong air travel bubble will be deferred for two weeks, and the new launch date will be announced later, Transport Minister Ong Ye Kung said yesterday. The postponement came hours after the authorities in the two cities had said earlier in the day that the inaugural flights today would go ahead despite a spike in the number of Covid-19 infections in Hong Kong. In a Facebook post at around 5pm, Mr Ong said that he and Hong Kong Secretary for Commerce and Economic Development Edward Yau agreed that it would be better to defer the launch, given the evolving situation in Hong Kong. "We will review within two weeks on the new launch date and update again," he wrote. The Singapore-Hong Kong air travel bubble - the Republic's first since border restrictions were imposed amid the Covid-19 pandemic - was supposed to take off with one flight into each city with a maximum capacity of 200 passengers on every flight. "I can fully understand the disappointment and frustration of travellers who have planned their trips. But we think it is better to defer from a public health standpoint," Mr Ong said. "This is a sober reminder that the Covid-19 virus is still with u...

SeaPRwire

When staff can choose to work to 100 and beyond

elean 22 11 月

1 minute

The traditional concept of retirement has been, well, retired at Prudential Singapore. The insurer is one of very few companies here that has done away with the notion of retirement for all its employees, including long-serving staff like Ms Sue Li, 64, Mr Abdullah Rahim and Ms Mary Goh, both 62. 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.

SeaPRwire

Critical for insurance to be more transparent

elean 22 11 月

1 minute

Many of us shove our insurance policies into the drawer and give them no further thought, yet they are probably the second-most valuable "asset" families have after their homes. After all, it is not uncommon for people to take out life policies to insure themselves for hundreds of thousands or even millions of dollars. 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.

SeaPRwire

Investors should look at how companies are run

elean 22 11 月

6 minutes

When it comes to choosing stocks, most investors use traditional financial metrics such as earnings, return on equity and net asset value. Some might look at charts while others use a combination of fundamentals and technical indicators. It is about time retail investors looked at another important aspect - the company's corporate governance. This is because companies that are well governed tend to perform better than those with weak or poor governance. A research paper, "Good governance driving corporate performance?" by Deloitte and Nyenrode Business University, found there is conclusive evidence that good governance variables - namely, board independence, diversity, remuneration, characteristics of the chief executive officer, oversight and ownership structure - are all important in enhancing corporate performance. In 2017, a Boston Consulting Group study noted: "An analysis of more than 300 of the world's largest pharmaceutical, consumer goods, oil and gas, banking and tech companies found that those with more ethical operations... make bigger profits and are more highly valued than competitors." In that same year, a Singapore Management University study noted that the Singapor...

SeaPRwire

When staff can choose to work to 100 and beyond

elean 22 11 月

1 minute

SeaPRwire

The secret of Estee Lauder’s success

elean 22 11 月

6 minutes

(BLOOMBERG) - In the midst of taking Estee Lauder public in 1995, Mr Leonard Lauder, the company's then chairman and chief executive, fielded a question from an investment banker during the roadshow. "If your products are so good," the banker asked Mr Lauder, then in his 60s, "why do you have so many lines on your face?" Fortunately, Mr Lauder writes in his new book, The Company I Keep: My Life In Beauty, "my wrinkles didn't deter investors". His comeback came in the stock's debut. It opened at US$26 a share and climbed to US$34.50 in its first day of trading. He hasn't quite written an autobiography; there isn't much discussion of his personal life, friends, travels or lifestyle. Most of the names you'll find in the book are hard-working employees whom Mr Lauder singles out for praise, various industry competitors and luminaries with whom he has collaborated in various industries. Aside from his mother, father, first wife Evelyn, and second wife Judy, even Mr Lauder's relatives don't get much print. Of his younger son Gary, who chose not to join the family business, Mr Lauder writes that "Gary has a dedicated sense of philanthropy and doing his own thing" and leaves it at that. Bu...

SeaPRwire

Tours of SIA’s training centre take off; new economy class meals for short-haul flights launched

aseanpr 21 11 月

4 minutes

SINGAPORE - For Isabelle Chan, eight, and her six year-old sister, Natalya, the highlight of their Inside Singapore Airlines (SIA) tour was when they got to serve food and drinks to their mother while dressed in SIA's iconic sarong kebaya. The two girls were among 500 participants who secured a slot for the first tour session, which was held on Saturday (Nov 21). Their mother, Mrs Rowena Chan, said: "I thought it'd be good for them to have a chance to experience it behind the scenes. "I don't think this is normally open to the public, and since there was an opportunity, I decided to go ahead and book this experience for them," added the 44-year-old executive assistant. The girls donned the sarong kebaya and learnt customer service skills from SIA stewardesses as part of the junior cabin crew experience, one of the add-on options of the tour programme, which provides visitors with a look around SIA's training centre in Changi. A basic tour ticket to the centre, which is normally closed to the public, costs $30 for those aged 12 and above, and $15 for children three to 12 years old, excluding GST. The junior cabin crew experience costs $88, excluding GST, and includes the SIA sarong ...

SeaPRwire

Engineers needed to solve Singapore’s future challenges

aseanpr 21 11 月

3 minutes

SINGAPORE - In the next 10 years, many new jobs will be created in the agri-food sector and engineers will be needed, including people with expertise in process control, automation and robotics. Speaking on Saturday (Nov 21) at the National Engineers Day celebration, Minister for Sustainability and the Environment Grace Fu said the future in sustainability and climate mitigation and adaptation requires engineering solutions. "From building flood protection structures, more efficient solar PV (photovoltaic) systems, charging infrastructure for electric vehicles, harnessing value from waste to high-yield agri-tech system, we look to engineering... for solutions to our current and future challenges," she added. The annual event for the young to discover engineering, held online this year, had kicked off on Nov 12. The winners of this year's Engineering Innovation Challenge were announced on Saturday. For the competition, 101 teams of students competed to find engineering solutions for real-world problems. Winning projects included a system to improve crop quality, yield, and rate of growth in an urban farming setup, as well as a bacteria-killing ultraviolet light tunnel for sushi conv...

SeaPRwire

Activist Jolovan Wham will be charged on Monday

aseanpr 21 11 月

2 minutes

SINGAPORE - Civil rights activist Jolovan Wham, 40, will be charged in court on Monday (Nov 23) with two offences under the Public Order Act. Wham, who is the former executive director of migrant worker advocacy group Humanitarian Organisation for Migration Economics (Home), had staged a protest on the steps of the former State Courts building on Dec 13, 2018. That location is within a prohibited area delineated in the Public Order (Prohibited Areas) Order 2009. Wham had also allegedly staged a protest on March 28 this year in the vicinity of Toa Payoh Central Community Club and Toa Payoh Neighbourhood Police Centre. No permit was granted for the protest. If found guilty of either offence, he can be fined up to $5,000, the police said in a statement on Saturday. Organising or taking part in a public assembly without a police permit in Singapore is illegal and constitutes an offence under the Public Order Act, the police stressed. "The Speakers' Corner is the proper avenue for Singaporeans to express their views on issues that concern them, and to allow Singaporeans to conduct assemblies without the need for a permit, subject to certain conditions being met," the police statement sa...

SeaPRwire

Air travel bubble will go on, Hong Kong visitors to take Covid-19 test on arrival in Singapore: CAAS

aseanpr 21 11 月

5 minutes

SINGAPORE - The first few flights under a travel arrangement between Hong Kong and Singapore will proceed as planned on Sunday (Nov 22) but travellers from Hong Kong will have to go for a Covid-19 test upon arriving in Singapore. The additional requirement, which will take effect on Sunday, comes after a rise in the number of Covid-19 cases in Hong Kong in recent days. Visitors from Hong Kong were previously required to take the test only prior to departure for Singapore. Revealing the change on Saturday (Nov 21), the Civil Aviation Authority of Singapore (CAAS) said visitors will need to take the polymerase chain reaction (PCR) test at Changi Airport as "a precautionary measure". "More cases are expected in Hong Kong over the next few days due to the emergence of new clusters," said the CAAS in a statement. Hong Kong reported 26 cases on Friday (Nov 20), with its Health Secretary, Professor Sophia Chan, describing the situation as "severe". "The Singapore and Hong Kong health authorities are in close contact and monitoring the situation," the CAAS added. Speaking to reporters after a tour of Singapore Airlines training centre in Changi on Saturday, Transport Minister Ong Ye Kung s...

SeaPRwire

Morning Briefing: Top stories from The Straits Times on Nov 21

aseanpr 21 11 月

2 minutes

Good morning! Here are our top stories to kick-start your Saturday, Nov 21. Apec leaders agree on need for free, fair environment for trade and investment to drive economic recovery They say more has to be done to foster an enabling environment for trade and investment in the region. READ MORE HERE Lee Suet Fern focused on what husband wanted done, did not consider Lee Kuan Yew's interests: Court Not having due regard for Mr Lee Kuan Yew's interests was a "grave failure" on her part, the court said. READ MORE HERE Hong Kong to tighten Covid-19 measures as travel bubble with Singapore hangs in the balance ST understands that the travel bubble could be scuppered, depending on Saturday's Covid-19 cases. READ MORE HERE The Great Reset: Can US and China revive relations? Asia is gearing up for the new US team led by Biden. ST bureaus take the pulse in Asian capitals as the Trump era retreats. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Lesson for Singapore from US election If this is American democracy there should be social distancing rules to keep it away from the rest of the world. READ MORE HERE Donald Trump Jr tests positive for cor...

SeaPRwire

Wall Street closes lower as surging Covid-19 cases offset vaccine hopes

elean 21 11 月

4 minutes

NEW YORK (REUTERS) - US stocks closed lower on Friday (Nov 20) as investors wrestled with fiscal stimulus developments, concerns over a lengthy rollout of vaccines, and a growing number of state-level shutdowns to combat the spiralling Covid-19 pandemic. Stay-at-home plays such as Zoom Video Communications and Netflix, which have outperformed throughout the health crisis, helped curb the Nasdaq's loss. Throughout the week, the ebb and flow of vaccine news and spiking infections had investors oscillating between economically-sensitive cyclical stocks and pandemic-resistant market leaders. The S&P 500 and the Dow posted marginal losses for the week, while the tech-laden Nasdaq settled a bit higher from last Friday's close. "Markets are still stuck in a push-and-pull between the dramatic rise of new Covid cases versus apparent progress on vaccines," said David Carter, chief investment officer at Lenox Wealth Advisors in New York. "This is likely to continue until we have an approved and distributed vaccine." US Treasury Secretary Steven Mnuchin announced late on Thursday that he would allow key pandemic-relief lending programmes at the Federal Reserve to expire at the end of the year,...

SeaPRwire

Health-tech start-up SenzeHub uses wearables to monitor patients’ condition

elean 21 11 月

1 minute

SINGAPORE - Health-tech start-up SenzeHub develops wearables that monitor patients' vital signs such as heart rate and temperature. These devices help flag any deterioration in the user's condition and provide an early alert for emergencies. The Singapore-headquartered firm was set up last year after responding to an innovation challenge by Intellectual Property Intermediary, a non-profit organisation established by the Ministry of Trade and Industry. 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.

SeaPRwire

Nelson Loh said to have left Singapore as police probe firm

elean 21 11 月

4 minutes

Mr Nelson Loh, 40, co-founder of Novena Global Healthcare Group (NGHG) which is under police investigations, has left Singapore, said his cousin and former business partner Terence Loh. This came in a statement yesterday from Mr Terence Loh, 43, in response to an application by DBS Bank to wind up NGHG subsidiary Novena Global Healthcare. "Perhaps more than anyone else, I feel deeply betrayed by Nelson, who has left Singapore and appears to have no intention to sort out this terrible mess we are left with." The Straits Times understands from sources that Mr Nelson Loh is in China. The Singapore Police Force said it is unable to confirm whether Mr Nelson Loh has left the country, while the Immigration and Checkpoints Authority said it cannot discuss the details of individual cases for reasons of confidentiality. On Tuesday, DBS had applied to the High Court to wind up Novena Global Healthcare, which is believed to owe the bank millions of dollars. The application will be heard on Dec 11 and the subsidiary faces possible liquidation if the court agrees. The Singapore subsidiary of the Cayman Islands-incorporated group also faces further enforcement action from the Accounting and Corp...

SeaPRwire

SPH shares jump 19% on heavy volume

elean 21 11 月

2 minutes

Shares of Singapore Press Holdings (SPH) surged yesterday amid active trading, prompting a query from the bourse operator. The stock surged 10.5 per cent to hit $1.16 at around 11.08am, according to ShareInvestor data. The last time the counter closed at such levels was in late July. It sustained its rally yesterday afternoon, jumping to $1.23 on a cum-dividend basis as at 3.38pm, up 17.1 per cent from Thursday's close. Some 69.5 million shares had changed hands by then, making the counter the second-most traded by value on the Singapore bourse, and fifth by volume. About 65 large trades - each valued at more than $150,000 - were done during the morning trading session. It eventually closed 19.05 per cent higher at $1.25, with 85.6 million shares changing hands. This represented over 5 per cent of SPH's issued and paid-up shares. The Newspaper and Printing Presses Act has, since 2002, prohibited any person from owning 5 per cent or more of a newspaper company without approval from the Minister for Communications and Information. In response to queries from the Singapore Exchange on the unusual trading activity, SPH said it regularly evaluates all opportunities across its portfolio ...

SeaPRwire

IBM to hire and train 300 S’poreans over next 4 years

elean 21 11 月

3 minutes

IBM will hire and train 300 Singaporeans in emerging technological areas over the next four years, under a memorandum of intent (MOI) that the tech giant and the Infocomm Media Development Authority (IMDA) signed yesterday. Applicants will receive training for roles such as data scientists and cloud architects in the company-led initiative, which falls under IMDA's TechSkills Accelerator programme. Of the 300 roles on offer, 60 are for mid-career professionals, while the other 240 are open to both new and mid-career professionals. The initiative is part of IBM's Future-Ready Intelligent Digital Workforce Programme, which aims to meet the demand for technology consulting and deep technical skills - both needed to support the acceleration of digital transformation across all industries. It is also in support of the SG-United Jobs and Skills Package. Participants in IBM's programme will be exposed to emerging technologies such as artificial intelligence (AI), blockchain and the Internet of Things. They will be assigned to work with local, regional and global teams on a variety of projects to gain practical experience. Communications and Information Minister S Iswaran, who witnessed th...

ACN Newswire

VIC Rewards and XcelTrip Bring Blockchain-enabled Vitality Packages to Consumers

indie 20 11 月

4 minutes

SINGAPORE, Nov 20, 2020 - (ACN Newswire) - CEO of XcelTrip, Mr. Gyanendra Khadka, and Dr. Richard Satur, CEO of VIC Rewards, are joining hands and e-Commerce platforms in partnership to dominate the worldwide Medical Tourism Marketspace. Together, the business-duo plan to create synergy to take on the ASEAN, Indian and Korean wellness and vitality digital marketspace. Currently, the two companies are working in tandem to raise the stakes and bring consumer wellness value to the aforementioned markets.The partnership between XcelTrip and VIC Rewards is a unique and promising one. To understand the unique value proposition of their collaboration through VIC Rewards, one has to first look at these two companies separately and then together.XcelTrip is an OTA Platform that presently accommodates over 2.4 million hotels and 450 flights Globally. VIC Marketplace, on the other hand, specializes in wellness, wellbeing, anti-aging, and therefore, Vitality products and services. By 2021, VIC Marketplace is projecting to onboard over 500 merchants into their platform. Now, through VIC Rewards, the two companies will come together to create and explore the pre-existing wellness market for medi...

JCN Newswire

Mitsubishi Heavy Industries Engineering to Establish “Decarbonation Business Department”

ruth 20 11 月

3 minutes

TOKYO, Nov 20, 2020 - (JCN Newswire) - On December 1, Mitsubishi Heavy Industries Engineering, Ltd. (MHIENG), a Group company of Mitsubishi Heavy Industries, Ltd. (MHI) based in Yokohama, will establish a new "Decarbonation Business Department." Creation of the new office targets further strengthening of MHIENG's world-leading business in carbon capture from gas emissions and further acceleration of new initiatives in the area of energy transition, to respond to customer needs amid global efforts to achieve carbon neutrality.MHIENG has already made several significant contributions to carbon dioxide (CO2) recovery technology. Jointly with Kansai Electric Power Company, Inc., MHIENG has developed and improved the proprietary Kansai Mitsubishi Carbon Dioxide Recovery Process (KM CDR Process) in combination with a highly efficient amine-based solvent. Recovery systems utilizing this process are currently operating at 13 plants (thermal power, chemical, etc.) worldwide, giving MHIENG one of the world's strongest track records in this area. Meanwhile, as efforts to achieve carbon neutrality are being ramped up globally, needs are increasing in various spheres: these include flue-gas car...

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