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Girl hurt in Woodlands crash wakes up after 11 days in coma

aseanpr
2 minutes

SINGAPORE (THE NEW PAPER) - An eight-year-old girl who was flung out of a van in a road accident in Woodlands last month woke up on Tuesday (Nov 3) after 11 days in a coma. Her father, Mr Eric Tan, 45, told The New Paper on Tuesday night that Lovelynn regained consciousness at about 4pm. "She cannot speak or respond yet. She just woke up and can only move the left side of her body," he said in Mandarin. Earlier in the day at about 7.30am, Mr Tan had posted an update on social media on his daughter's condition. He said the swelling in her brain had gone down and the blood clots were gradually dissolving. But the mobility on the right side of her body would be affected, and she is estimated to need a longer time to recover. "She will be required to stay in ICU (intensive care unit) for further observation," he wrote. Lovelynn is warded at KK Women's and Children's Hospital, where Mr Tan and his wife have been keeping vigil. She was one of four people injured in the accident involving a van driven by her uncle and a red Audi car on Woodlands Avenue 12 just after 8pm on Oct 23. More on this topic Related Story Father overwhelmed by support from public for 8-year-old in coma after Woodl...

ACN Newswire
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JCB expands its merchant network with Paymentwall in digital media and home entertainment sector

indie
4 minutes

TOKYO & EUROPE, Nov 4, 2020 - (ACN Newswire) - JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., Japan's only international payment brand, and Paymentwall announce the activation of JCB cards in the digital media and home entertainment sector.This partnership will simplify the online transactional journey for digital media and home entertainment communities as they make in-app and online purchases from small and medium-sized companies across the world.Globally, throughout 2020 to date, the video game industry sector has seen a 7.4% increase in sales year-on-year and a user increase of 12.7% year-on-year, and it is forecasted that the market will reach an expected annual sales growth of a further 0.9% as we move towards 2025[1].This collaboration is set to expand the virtual media entertainment market even further. Additionally, this partnership will offer cardmembers enhanced fraud protection, speedier transactions, local payment processing and 24/7 in-app help and support functions.Mr. Honor Gunday, CEO of Paymentwall said, "establishing a relationship with JCB has been a key milestone for us as we expand into new regions where we can offer...

SeaPRwire
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Sustainability should be put at the core of post-pandemic recovery plans: Grace Fu

aseanpr
3 minutes

SINGAPORE - As Singapore revives its pandemic-hit economy, sustainability and the fight against climate change must be a fundamental driver in post Covid-19 recovery plans, said Minister for Sustainability and the Environment Grace Fu on Wednesday (Nov 4). "We are at a significant juncture, where we have the opportunity to put sustainability at the core of our recovery plans and policies, and change the way we produce and consume," the minister added. She said the country should continue strengthening its resilience against future shocks, including the "existential challenge" of climate change, supply chain disruptions and other public health threats. Ms Fu was delivering her keynote address at the Singapore Dialogue on Sustainable World Resources, organised by the Singapore Institute of International Affairs. Even as Singapore works hard to "build back better" in the face of an expected economic contraction of five to seven per cent this year, Ms Fu outlined how this can be done in a sustainable and inclusive manner. This includes driving climate action, catalysing innovation, and persisting with zero waste goals. She cited how Singapore submitted its enhanced plan for emissions r...

JCN Newswire
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MITSUBISHI MOTORS New Environmental Plan Seeks 40% CO2 Emissions Reduction and 50% Ratio of Electric Vehicles by 2030

ruth
2 minutes

TOKYO, Nov 3, 2020 - (JCN Newswire) - MITSUBISHI MOTORS CORPORATION (MMC) has formulated a new Environmental Plan for the next 30 years. To contribute to realizing a society with net zero carbon dioxide (CO2) emissions in 2050, the company aims for 40 percent reduction in the CO2 emissions from its new cars and business activities, and raising the proportion of electric vehicles in the total sales to 50 percent by 2030. MMC will be fulfilling its responsibility as a manufacturer and seller of automobiles to make ongoing contributions toward a future dynamic, sustainable society.Considering social trends since the adoption of the Paris Agreement, this new Environmental Plan takes a medium- to long-term perspective. The plan is comprised of three parts--MMC's Environmental Policy, which was revised to incorporate a medium- to long-term outlook; Environmental Vision 2050, which defines the vision of society and the direction of MMC's initiatives toward 2050; and Environmental Targets 2030, which set out specific targets to achieve by 2030 in order to realize the vision.For the full report, please visit https://www.mitsubishi-motors.com/en/newsrelease/2020/detail1300.html.About Mitsubi...

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US stock futures climb with early vote counts coming in

elean
4 minutes

NEW YORK (BLOOMBERG) - US equity futures pointed to further gains after the biggest two-day rally since September, while Treasury futures slid as investors speculated America would get a clear election decision and Congress will deliver a spending bill this year. December contracts on the S&P 500 added 0.7 per cent as of 7.25pm in New York. The cash index jumped 3 per cent in the past two days. The US dollar fell and Treasury futures dropped as trading kicked off in Asia. Polls have started closing on much of the East Coast, including in some key battle grounds like Georgia. Florida and Pennsylvania accept votes until 8pm. Final polls taken before voting began on Tuesday showed Democrat Joe Biden with a solid lead nationally over Republican Donald Trump, adding to speculation a winner could be declared without protracted legal battles. "Where markets have concern is uncertainty - if we have a disputed outcome," Stephen Dover, head of equities at Franklin Templeton, said by phone. "So the market is telling us today in this big up market that there's a likelihood of having some clarity about the outcome within the next week or so." Markets have been volatile during the final weeks of...

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Great Eastern Q3 profit up 40% to $287.9 million

elean
2 minutes

SINGAPORE (THE BUSINESS TIMES) - Great Eastern Holdings on Wednesday (Nov 4) posted a 40 per cent rise in net profit to $287.9 million for the third quarter ended Sept 30, from $205.1 million a year ago. The insurance arm of OCBC said this was mainly due to the higher valuation of investments, on the back of improved financial market conditions during the quarter. Operating profit slipped 4 per cent to $171.4 million, from $178.5 million a year earlier. This was due to greater new business strain resulting from higher sales in Singapore, Great Eastern said. Meanwhile, non-operating profit came in at $50 million for the third quarter, reversing from a loss of $31.3 million in the preceding year. Profit from shareholders' fund rose 20 per cent to $74.9 million, from $62.3 million a year ago, due to higher mark-to-market gains from equities, the insurer noted. In addition, a pick-up of activity across all markets led to a 36 per cent growth in total weighted new sales to $432.8 million, from $317.5 million in the year-ago period. Amid higher sales, new business embedded value edged up 2 per cent to $160.2 million, from $157.4 million in the corresponding period last year. Group chief ...

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UOB Q3 profit falls 40% to $668 million on higher provisions

elean
3 minutes

SINGAPORE - United Overseas Bank posted a 40 per cent drop in third-quarter net profit to $668 million from $1.12 billion a year earlier as the bank built up on allowances for potential bad loans amid the Covid-19 pandemic. Earnings were better than expected, topping the $641 million average forecast by analysts in a Bloomberg poll. An additional $339 million in credit allowance for non-impaired assets was set aside to strengthen provision coverage, bringing total credit costs on loans to 68 basis points in the third quarter from 23bps a year ago, the bank said in a statement on Wednesday (Nov 4). The non-performing loan (NPL) ratio improved to 1.5 per cent from 1.6 per cent, as NPL formation stayed low coupled with more recoveries in the quarter, said UOB. Operating profit rose 3 per cent quarter-on-quarter to $1.25 billion on improved margins and higher fees rose as economic activity gradually resumed. Net interest income decreased 13 per cent to $1.47 billion as effects from margin compression offset loan growth of 2 per cent. Non-interest income dropped 15 per cent to $786 million, as business activities across corporate and retail customers declined. Trading and investment inc...

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Jack Ma’s personal wealth drops US$3 billion after Ant Group IPO freeze

elean
2 minutes

HONG KONG (BLOOMBERG) - Jack Ma was poised to become Asia's richest person with Ant Group's public offering. Instead his net worth has tumbled almost US$3 billion (S$4.1 billion) and both retail and institutional investors who were betting on a big first-day pop are in limbo. Alibaba Group Holding's US-traded shares slid 8.1 per cent in New York trading on Tuesday (Nov 3) after Ant said its listings in both Shanghai and Hong Kong have been suspended. Ma, a 56-year-old former English teacher who co-founded Alibaba with US$60,000 and turned it into China's largest e-commerce company, would have leaped up the wealth rankings with Ant's planned US$37 billion share sale. The IPO was the most anticipated in years, attracting at least US$3 trillion in orders for its dual listing. The stampede for shares had fueled predictions of a big first-day jump and sparked a frenzy among individual investors in China clamouring for a piece. The sale would also have boosted the fortunes of a group of early investors and employees, with more than a dozen other people slated to become billionaires. Ma owns 4.2 per cent of Alibaba, which owns about a third of the fintech company that was expected to begi...

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Jack Ma’s blunt words just cost him US$37 billion

elean
5 minutes

HONG KONG (BLOOMBERG) - Jack Ma is a very busy man. China's richest man has been busy launching the world's biggest IPO. He has been busy preparing for Alibaba Group Holding's grandest four-day Double Eleven shopping extravaganza. And yet two weeks ago, Ma somehow found the time to opine on China's banking system at a high-profile financial forum in Shanghai, once again throwing himself into the eye of the storm. In that speech, apart from labeling the global banking Basel Accords as an "old people's club," Ma said "systemic risk" is not the issue in China. Rather, China's biggest risk is that it "lacks a financial ecosystem." Chinese banks are like "pawn shops", where collateral and guarantees are the hard currencies. As a result, some decided to go so big they are not allowed to fail. "As the Chinese like to say, if you borrow 100,000 yuan from the bank, you are a bit scared; if you borrow a million yuan, both you and the bank are a little nervous; but if you take a one billion yuan loan, you are not scared at all, the bank is," Ma said. The consequences came this week. On Monday (Nov 2), Beijing's top financial watchdogs summoned Ma and dressed him down. Beijing also issued draf...

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SFA directs recall of 2 ‘gluten-free’ cereal products for containing the protein

aseanpr
2 minutes

SINGAPORE - Two cereal products which are labelled as gluten-free are being recalled for containing the protein, said the Singapore Food Agency (SFA) on Tuesday (Nov 3). The products - Blue Frog Zesty Raspberry with Coconut & Toasted Almonds Gluten Free Cereal and Blue Frog Apricot with Vanilla & Hemp Heart Gluten Free Cereal - were imported into Singapore by Home & Health Distributors. SFA has instructed the Singapore-based importer to recall these products after government agency Food Standards Australia New Zealand stated that they were recalled in the two countries for containing an undeclared gluten allergen. The affected raspberry cereal packages bear the best-before dates of Feb 13, 2021, to Aug 6, 2021. The apricot cereal packets bear the best-before dates of Feb 19, 2021, to Aug 6, 2021. Those who are allergic to gluten should not eat these cereal products and seek medical advice if they have concerns, added the agency. Under the Sale of Food Act, cereals containing gluten must be clearly labelled to protect public health. Consumers can contact the importer on 9160-9443 for an exchange or refund of the affected products. More on this topic Related Story SFA recalls peaches...

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Covid-19: Automated wireless system that monitors blood oxygen successfully piloted

aseanpr
5 minutes

SINGAPORE - A new weapon has been added to Singapore's arsenal against Covid-19: an automated system that monitors oxygen levels in the blood. Low blood oxygen could be a symptom of Covid-19. The new system utilises Bluetooth-enabled pulse oximeters to measure blood oxygen levels. It will help automate manual tasks and compile pulse oximeter readings from thousands of individuals neatly on a dashboard. A team of researchers from the National University of Singapore (NUS) - in consultation with clinicians from the National University Hospital and Singapore General Hospital - worked on the new system from April to June. The project was also supported by both Temasek Foundation and the National Research Foundation. This new system consists of several components: wireless nodes to capture data from the Bluetooth-enabled pulse oximeters, individual Bluetooth-enabled pulse oximeters which individuals can use to take their readings, WiFi stations and a dashboard that presents the data. Workers living in dormitories need to measure and record their oximeter readings twice a day as part of precautionary measures to identify new cases of infection. This process is currently done manually. Wi...

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SGO, No. 1 Oilless Bearing Company in Korea, Goes Online

pandora
2 minutes

Seoul, Korea - The demand for bearings used in mechanical equipment has been increasing worldwide, and the bearing market is expected to grow rapidly. SGO is Korea's No. 1 manufacturer of oilless bearings, owing to its leading technology. Established in 2000, SGO has been specializing in design, development, and production of oilless bearings for use in plastic injection molding machines and molds, hydraulic cylinders and joints of excavators, and steel manufacturing facilities. Currently, SGO is exporting its products to 30 countries, including Japan, Germany and the United States, which are called technologically advanced countries. With patents granted in a number of countries, SGO is increasing its market shares not only in Korea but also in overseas markets. As the opportunity for meeting the buyers face-to-face has declined due to the cancellation and postponement of the exhibitions due to the worldwide COVID-19 pandemic, SGO promotes its products by participating in the online exhibitions, aiming to increase the sales, discover new buyers, and expand its shares in overseas markets. Some of the exhibitions confirmed for participation this year are as follows. Germany - Exhibi...

ACN Newswire
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Greenbriar Capital Corp. Closes Non-Brokered Private Placement

indie
3 minutes

Coquitlam, British Columbia, Nov 3, 2020 - (ACN Newswire) - Greenbriar Capital Corp. (TSXV: GRB) (OTC Pink: GEBRF) ("Greenbriar") is pleased to announce that it has closed the non-brokered private placement announced on October 27, 2020. Greenbriar has issued 500,000 units (the "Units") at a price of $1.50 per Unit for gross proceeds of $750,000. Each Unit is comprised of one common share and one share purchase warrant. Each share purchase warrant (a "Warrant") entitles the holder to acquire one additional common share in the capital of Greenbriar at a price of $1.75 per until November 2, 2022.The common shares comprising the Units and any shares issued upon the exercise of any Warrants are subject to a hold period until March 3, 2021. Proceeds from the Private Placement will be used by Greenbriar for working capital purposes.Financial NewsletterGreenbriar sponsored an ESG investor event on March 25, 2020 with Grit Capital. Beginning November 1, 2020, Grit Capital has launched a very efficient and easy to read, fun, exceedingly informative, and highly impactful Investment Newsletter (https://gritcapital.substack.com) that covers emerging trends, themes and investment ideas which is...

ACN Newswire
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Ziptrak Original Track-Guided Blinds System Resolves Top Pain Points for over 4,500 Singaporean Homes and Businesses

indie
4 minutes

SINGAPORE, Nov 3, 2020 - (ACN Newswire) - Ziptrak(R), the original patented track-guided blind system based in Australia, has been making balcony and semi-outdoor spaces in Singapore more usable, protecting homes and businesses from sun glare, rain, noise, UV radiation and heat. To date, it has been installed in over 4,500 residences and commercial spaces with a proven track record of durability, where less than one percent of units installed required full replacements.Track-guided blinds are designed so that the blind material moves along a track, preventing wind and insects from entering, and cold air to escape from. Unlike traditional cabled blinds, which flap about in the wind and are exposed at the sides, the blind material will remain in the tracks and continue to protect your spaces, come rain or shine. The trifecta of quality, experience and innovation has been making waves since the very first installation of Ziptrak blinds at IMM Outlet Mall in December 2012, to its introduction to the Singapore market in early 2017. 1. QUALITY - Every component is selected for its strength and durability; with a 2m by 2m blind being able to withstand a static load equivalent to wind spee...

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MAS to stop issuing $1,000 notes over money laundering, terrorism financing concerns

aseanpr
2 minutes

SINGAPORE - The Monetary Authority of Singapore (MAS) will stop issuing the $1,000 note from January next year to minimise the money laundering and terrorism financing risks associated with such a large denomination. From now till January, the MAS will also limit the quantity of $1,000 notes issued each month, although banks can continue recirculating the existing $1,000 notes that have been deposited with them, it said in a statement on Tuesday (Nov 3). It added that it will "make available sufficient quantities of other denominations" to meet demand, in particular the $100 note, which is the next highest denomination after the $1,000 note. Existing $1,000 notes in circulation can continue to be used for payment, and remain legal tender, said the agency. In its statement, the agency also encouraged the public to use electronic payments instead of large denominations, which it said allows individuals to anonymously carry large sums of money, and can thus facilitate illicit activities like money laundering. The agency noted that most major jurisdictions have stopped issuing large denomination notes because of money laundering and terrorism financing concerns. More on this topic Rela...

SeaPRwire
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Singapore tourism industry offers bundled promotions to entice locals

aseanpr
2 minutes

SINGAPORE - Local tourism is getting a boost from bundled promotions by hotels, attractions, restaurants and shops, which are being offered under the SingapoRediscovers campaign from Tuesday (Nov 3). The Singapore Tourism Board (STB) is launching around 50 of these bundled promotions, which can be found on the SingapoRediscovers website, or the VisitSingapore mobile application. The promotions are designed around 10 areas of Singapore which have specific attractions or cultural interest, such as Chinatown, Sentosa or the Mandai-Kranji nature area, STB said in a statement on Tuesday. To help consumers explore the 10 different precincts, STB is also launching holiday itineraries featuring recommended hotels, attractions, tours and shops which users can customise to plan their stays. Mr Keith Tan, chief executive of the tourism board, emphasised the novelty that local tourism can offer. He said: "There is so much to explore and do in our vibrant precincts. Each has a unique story to tell, and home-grown businesses that need our support." For more stories on exploring Singapore, go to the SG Go Where page. More on this topic Related Story From staycations to tours, 10 ideas on how you ...

SeaPRwire
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Jobless man of unsound mind ordered to be detained after trial for murdering 75-year-old father

aseanpr
3 minutes

SINGAPORE - A 46-year-old man of unsound mind was ordered to be detained at the President's pleasure on Tuesday (Nov 30) after the High Court found, following a trial, that he had killed his 75-year-old father. Justice Valerie Thean concluded that Tan Kok Meng, who was left alone for three hours with his father at their Bedok North flat, had caused the death of the older man on Nov 13, 2015. Although Tan was found to have committed the alleged acts, under the law, he was acquitted of murder due to his mental incapacity. Two psychiatrists from the Institute of Mental Health had diagnosed him with schizophrenia and found that he was probably of unsound mind during the killing. One of them said Tan was also in a state of acute drug intoxication during the incident as he had taken methamphetamine then. Tan will be confined in a psychiatric institution, prison or some other place of safe custody. There is no minimum period of detention and the mental state of the detainee is reviewed regularly until he is suitable for discharge. After the verdict, Tan appeared to be in good spirits and was allowed by the court to speak to a few family members. He was on trial for murder and was accused ...

ACN Newswire
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Zhonghua Gas Holdings Limited Proposed Issue of Convertible Bonds in the Principal Amount of HK$97,800,000

indie
3 minutes

HONG KONG, Nov 3, 2020 - (ACN Newswire) - Zhonghua Gas Holdings Limited (the "Company"; Stock Code: 8246) together with its subsidiaries (collective namely the "Group") today announces that on 2 November 2020 (after trading hours), the Company entered into Subscription Agreement with the wholly-owned subsidiary of Kai Yuan Holdings Limited (Stock Code: 1215) ("the Subscriber"), pursuant to which the Company has conditionally agreed to issue and the Subscriber has conditionally agreed to subscribe for the three-year Convertible Bonds in the aggregate principal amount of HK$97,800,000. The initial conversion price is HK$0.27 each (subject to adjustments). As at the date of this announcement, the Company has a total of 3,622,136,000 Shares in issue. Assuming there is no further issue or repurchase of the Shares, based on the initial Conversion Price of HK$0.27 per Conversion Share and assuming full conversion of the Convertible Bonds took place, the Convertible Bonds will be convertible into 362,222,222 Conversion Shares, representing approximately 10.00% of the existing issued share capital of the Company as at the date of this announcement and approximately 9.09% of the issued share...

SeaPRwire
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Mukesh Ambani loses $8.87 billion as oil sinks Reliance stock

elean
2 minutes

MUMBAI (BLOOMBERG) - Mukesh Ambani, Asia's richest man, saw US$6.5 billion (S$8.87 billion) wiped from his net worth as Reliance Industries shares tumbled the most in over seven months following a drop in quarterly profit. The stock of India's most-valuable company closed 8.6 per cent lower in Mumbai on Monday (Nov 2), slipping the most since March 23. It was the day's worst performer on the benchmark S&P BSE Sensex, which rose 0.4 per cent. The slide shaved Ambani's wealth down to US$71.1 billion, according to the Bloomberg Billionaires Index. The refining-to-retail conglomerate reported a 15 per cent decline in quarterly profit to 95.7 billion rupees (S$1.75 billion) late on Friday, as the coronavirus pandemic hit fuel demand. Revenue fell 24 per cent to 1.16 trillion rupees. Reliance's oil refining unit has suffered a plunge in demand for transportation fuels, with Covid-19 forcing people to stay home. The conglomerate is in the midst of a transformation led by Ambani, 63, as he looks to turn the oil-and-petrochemicals giant into a technology and digital services company by bolstering its telecom and e-commerce businesses. The slip in earnings backs Ambani's strategy and highlig...

SeaPRwire
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Singapore-based hedge fund is world’s best-performing with 275% gains

elean
6 minutes

SINGAPORE (BLOOMBERG) - Long before he ran the world's best-performing hedge fund, Qian Yong Qiang chaired China's biggest online dating service. The Yale graduate would spend hours tracking down attractive users with suspicious profiles, sifting through accounts and deleting thousands of scammers to improve the site's authenticity and ensure its success. Now he's betting that same attention to detail and strong returns will help turn his Singapore-incorporated firm into a wealth management giant. Between January and September, QQQ Capital Management posted gains of 275 per cent, making it the top hedge fund in the world, according to Eurekahedge data. QQQ says assets under management rose to about US$1 billion (S$1.36 billion) last month, with most of the money coming from Mr Qian. The gains have come with concentration risks that many fund managers would balk at: QQQ has more than a third of its assets invested in Chinese education companies. While those stocks had soared this year, they've been hit with concerns about regulatory crackdowns and allegations of accounting fraud, and one has plunged in recent weeks amid downgrades from analysts. "When we invest, we know everything a...