SeaPRwire

mm2 Asia inks agreement to sell cinema business, including Cathay, for $84.8m

elean
2 minutes

SINGAPORE (THE BUSINESS TIMES) - MM2 Asia, which operates cinemas under the Cathay brand, has entered into a sale and purchase agreement with local investment firm Kingsmead Properties to sell its cinema business for S$84.8 million. The deal will require shareholders' approval at an extraordinary meeting that will be convened, as well as approval from the regulators. mm2 Asia's founder Melvin Ang said: "The cinema business has been a strategic part of the group's content creation and distribution business, but it has been affected by Covid-19. With this proposed sale, it will stabilise the group's financial situation and allow mm2 to continue to focus on the development and strengthening of core production content growing opportunities." Singaporean Jasmine Foo Mei Ling is the sole shareholder and director of Kingsmead Properties. Proceeds from the proposed deal will be used to pare down the group's borrowings, including convertible bonds due on Dec 31, 2021. The company expects to receive net proceeds of approximately S$67.34 million (after deducting all transactions costs and expenses). The expected loss arising from the transaction will be approximately S$84.66 million, which re...

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Why the surge in Covid-19 deaths in S’pore, and what it means for the future

aseanpr
12 minutes

SINGAPORE - Ten people have died from Covid-19 this month, even as more than three in four people here have been fully vaccinated. Against this, we had 37 deaths between January last year, when Covid-19 arrived in Singapore, and July 2021. Over that period, more than 64,000 people were diagnosed with the disease. So why has the number of deaths surged, even as vaccination rates here have gone up? The short answer is the Delta variant. This variant, which is now infecting people in the community here, spreads two to four times more easily compared with the original wild-type virus. People who are infected with the Delta variant have very much higher viral loads, and vaccines do not work as well against it, though they do still give fairly high levels of protection. Professor Teo Yik Ying, dean of the National University of Singapore Saw Swee Hock School of Public Health, said: "The surge in deaths is because more people are getting infected in Singapore, given the outbreaks we had in July that regrettably happened in community locations such as wet markets that are frequented by seniors." Added Professor Dale Fisher, a senior infectious diseases consultant at the National University...

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Community and grassroots volunteers among National Day Awards recipients

aseanpr
13 minutes

A total of 5,710 individuals, including public servants, community and grassroots leaders and educators, will receive National Day honours this year. Each year, the awards recognise individuals for their contributions to Singapore. Here are profiles of 13 of this year's recipients. Public Service Star (Bar) Mr Zulkefle Abdul Rahman Chairman, Kampong Chai Chee Community Club Malay Activity Executive Committee ST PHOTO: MOHD KHALID BABA It has been more than 20 years since Mr Zulkefle Abdul Rahman last lived in Kampong Chai Chee. Even so, the 72-year-old returns to the neighbourhood nearly every day - sometimes to help with community work such as distributing Covid-19 test kits, at other times to catch up with old friends. The retired operations controller got involved in community work in 1994, when Chai Chee was a new estate. "At the time, all the residents were from different parts of Singapore. I was able to help get them together, to build very strong community bonds," said Mr Zulkefle, who has lived in Sengkang for the past two decades. He speaks English, Malay and even a smattering of dialect, which helps him connect with Singaporeans of all backgrounds. "Basically, I'm able t...

ACN Newswire
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Cardano’s New Lethal Weapon, Kick.io All Set to Dethrone Ethereum

indie
4 minutes

New York, NY, July 29, 2021 - (ACN Newswire via SEAPRWire.com) - Although there are a few observers who've not been optimistic about Decentralized Finance (DeFi) lately, the majority of the crypto enthusiasts who have been in the space disregard all bearish views on DeFi while keeping its optimism intact for DeFi. So far, there have been multiple price fluctuations and market corrections testing the patience of many. Consequently, despite the highs and the extreme lows, the truly bullish enthusiasts for DeFi have kept their stance and vision regarding the future of DeFi whereas the sceptics took a step back. To further strengthen the ecosystem of DeFi and complement the gap not covered by the current DeFi leader Ethereum, a fundraising platform, KICK.IO, built on the Cardano Network is undergoing development for its launch in the near future.It may appear surprising but it's the truth as per many analysts that the space conquered by Ethereum in the DeFi will not be ever-lasting. Till now, the main reason behind Ethereum's domination in the space has been due to the convenience provided to the users. However, as per the research by analysts, despite getting launched a few years afte...

ACN Newswire
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Mandalika Circuit could emerge as favorite in racing world: Expert

indie
3 minutes

Lombok Island, Indonesia, Jul 28, 2021 - (ACN Newswire via SEAPRWire.com) - The Mandalika Circuit in Lombok, West Nusa Tenggara, which is expected to be completed by 2022, has the potential to become a new favorite in the international racing world, an expert has said. "Once it is finished, this circuit will be gorgeous, and the track is flowing. This fast circuit will be the new favorite in the international racing world," motorsport aficionado Arief Kurniawan told ANTARA last Thursday (July 22, 2021).Mandalika Circuit has a unique selling point: It is in the Special Economic Zone (KEK Mandalika), surrounded by beautiful beaches and the Indian Ocean.Dorna Sports S.L. has designated Mandalika Circuit as one of the venues for MotoGP.Mandalika's developer, the Indonesian Tourism Development Corporation (ITDC), is targeting completion of the 4.3-km circuit with 17 corners to meet the specifications and pass the homologation test of the International Motorcycling Federation (FIM).The Mandalika Grand Prix Association, the circuit's promoter and operator, noted that as of mid-July this year, construction work on the circuit was 81.42 percent complete. Meanwhile, work on the run-off grave...

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Central Global Continues with Proactive Business Sustainability Measures Despite Lockdown

indie
3 minutes

KUALA LUMPUR, Jul 23, 2021 - (ACN Newswire via SEAPRWire.com) - Central Global Berhad ("Central Global" or "Group"), a producer of industrial masking tapes and label stocks as well as general building contractor, will continue to keep a tight rein on cashflow in order to ensure business sustainability following the government's decision to lengthen the extended movement control order ("EMCO") in certain areas of Kuala Muda, Kedah where the Group's factory is located by a further two weeks to 1 August 2021.Central Global executive chairman Dato' Faisal ZelmanCentral Global's factory, which produces masking tapes and label stocks, has been closed since 5th July 2021 given its location in Kuala Muda which is currently under the EMCO. The factory employs almost entirely locals, with several among the 170 employees having been with the Group for more than four decades.Central Global executive chairman Dato' Faisal Zelman said: "We have always been cautious about the outlook for this year given the uncertainties of further COVID-19 outbreaks and while we will continue to tap into opportunities arising from a more fragmented regional competition landscape and the sporadic local supply-cha...

JCN Newswire
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Record-breaker Rovanpera takes his first win driving Toyota Yaris WRC

ruth
6 minutes

TOKYO, Jul 19, 2021 - (JCN Newswire via SEAPRWire.com) - Kalle Rovanpera has become the youngest driver to ever win a round of the FIA World Rally Championship after he and co-driver Jonne Halttunen secured victory on Rally Estonia: the fifth win in a row for the TOYOTA GAZOO Racing World Rally Team.At 20 years and 290 days, Rovanpera claims the record that was previosuly held by the man who is now his Team Principal, Jari-Matti Latvala (who was just over two years older when he won Rally Sweden in 2008).Rovanpera led after all but two of the event's 24 stages, held over some of the fastest roads in rallying. He took six out of eight stage wins on Friday in a close battle with his nearest rival, who he then pulled away from during Saturday with some stunning stage times.He went into the final day with a lead of 50.7 seconds, which he ultimately extended to almost one minute - 59.9 seconds to be precise - with an expertly-controlled drive through the last six stages.The team's fifth consecutive win (and sixth from seven rounds so far this year) is the longest-ever WRC winning streak achieved by Toyota in its proud rallying history.All three of the team's cars finished inside the top...

SeaPRwire

Concord International Hospital allowed to treat patients again after lapses are addressed

aseanpr
2 minutes

SINGAPORE - Concord International Hospital has been allowed to resume treating patients after a ban imposed for major lapses was lifted. The private hospital in Adam Road was ordered to cease all healthcare services from Dec 19 last year, when life-saving and patient use supplies were unavailable or poorly maintained in critical areas of the hospital, such as the intensive care unit and operating theatre, the Ministry of Health (MOH) said in a statement on Thursday (July 15). There was a lack of infection and quality control processes on its premises as well, affecting patient safety, the statement added. MOH said the hospital had been allowed to treat patients again from June 16, after reviews and inspections to see if it met licensing requirements under the Private Hospitals and Medical Clinics (PHMC) Act. "This includes having the necessary equipment and facilities at all clinical areas, quality control checks for clinical laboratory facilities, preventive maintenance performed for all equipment and proper infection prevention and control practices in place," said MOH. Healthcare facilities which fail to comply with the PHMC Act could face a fine of up to $20,000 and have their ...

SeaPRwire

OCBC rolls out sustainability training for staff as part of $30m skills drive

elean
3 minutes

SINGAPORE (THE BUSINESS TIMES) - OCBC has launched a suite of sustainability training modules to groom more subject experts within the bank as it furthers its sustainability push. This is part of the second phase of the OCBC Future Smart Programme - launched on Thursday by group chief executive officer Helen Wong - with an investment of $30 million over the next three years for all 30,000 employees across the group, said the lender in a statement. In the past two years, more than 50 sustainability-related jobs have been created within the bank across areas such as sustainable business development, sustainable product development, sustainability research, ESG (environmental, social and governance) assessment, ESG reporting, ESG regulatory and compliance, sustainable stewardship, and community development and environment conservation programmes. OCBC said more than 20 training modules on sustainability have been co-developed with sustainability experts within the bank and across the external ecosystem. The design of the modules is shaped by the bank's sustainability framework and ESG factors which have been identified to be material, such as carbon footprint and neutrality, sustainab...

SeaPRwire

Cheating charge withdrawn for law graduate accused of duping legal institute

aseanpr
3 minutes

SINGAPORE - A law graduate who was earlier charged with engaging in a conspiracy to dupe the Singapore Institute of Legal Education (Sile) had his cheating charge withdrawn in a district court on Friday (July 2). Mr Manish Kalra, who used to be known as Mr Shree Manish Kalra Jeetender Kumar Kalra, now 28, was given a discharge amounting to an acquittal, which means the Singaporean cannot be charged again with the same offence. The court heard that before his charge was withdrawn, he had been granted permission to travel to Turkey for work and was supposed to return to Singapore by May 20. Eight days later, he applied through his legal team for an extension to remain overseas. Mr Kalra finally returned to Singapore on June 6 and faced District Judge Terence Tay in court on Wednesday. He then told the judge that Covid-19 polymerase chain reaction (PCR) tests were "not widely available" in Turkey. Mr Kalra added that he travelled to Belgrade - the capital city of Serbia - in early June to take one before returning to Singapore. Singapore's Immigration and Checkpoints Authority states on its website: "Depending on the travellers' travel history and Safe Travel Lane used to visit Singap...

ACN Newswire
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ILgamos going ILGON. New project, same goal.

indie
4 minutes

DUBAI, Jun 23, 2021 - (ACN Newswire via SEAPRWire.com) - ILGON is a new Ethereum-based blockchain platform with its own cryptocurrency, positioning itself as an ecosystem with endless possibilities. At first blush, the project seems perfectly legitimate. It has a team, an exchange listing, and even a few videos, though in Hungarian, which is no surprise because the team is also Hungarian.The PeopleThe CEO - Attila Vidakovics, precious little information can be found about this person on the Internet, except that he has appeared in the Hungarian cryptocurrency spaces for many years. The COO of the team is more important as Matyas Andras Den is positioned as the company behind ILGON. Even though Technokrats Ltd. has little to do with cryptocurrencies, it can be seen on the ILGON website. A simple search on the Internet reveals that using WIPO trademark data, the MLM company name Ilgamos can be found that has existed for many years, as well as another not insignificant name - Geza Kapitany, also Hungarian. The question that arises is how is any of this related to ILGON?Digging deeperILGON did not conduct any ICOs, IPOs, or any other investment attraction activities that could lead it ...

SeaPRwire

Hawker teams up with private-hire driver in win-win arrangement

aseanpr
1 minute

SINGAPORE - Unlike many hawkers who have been badly hit by the dine-in ban, Mr Jason Huang did not experience a drop in the number of orders he receives. The third-generation hawker has been able to steer his 53-year-old family business to safety by offering islandwide delivery. 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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Centuries-old shipwrecks discovered in S’pore waters; artefacts to be displayed in museums

aseanpr
6 minutes

SINGAPORE - Two shipwrecks - one dating possibly to the 14th century and the other to the 18th - have been excavated within Singapore's waters - a first for the nation and a groundbreaking development for its maritime heritage. Both wrecks, bearing Chinese ceramics as their primary cargo, were found in the waters off Pedra Branca, a rocky outcrop surrounded by shallow waters where ships throughout history have come to grief. The plan is to display the artefacts in museums here from the end of this year. Maritime archaeologist Michael Flecker, who supervised both excavations, described the first wreck as a "pretty remarkable" find, as it is contemporary with the Temasek period that spans the 1300s to 1600s. In 2015, commercial divers carrying out salvage works for another project stumbled upon several ceramic plates, which they handed over to the ISEAS - Yusof Ishak Institute because of their uncanny resemblance to artefacts they had seen in the news. The institute dated the plates to the 14th century, which kick-started an excavation project, beginning with an initial survey in 2016, that is now into its sixth year. The wreck was located about 100m north-west of the island, the Nat...

SeaPRwire

Tips from a trillion-dollar fund manager

elean
4 minutes

(REUTERS) - When it comes to financial advice, you could listen to someone who helped steer more money than almost anyone else on the planet. When he was chairman and CEO of investment giant Vanguard Group, Mr Jack Brennan oversaw a company that has since grown to over US$7 trillion (S$9.3 trillion) in assets. That torch has since been passed to current chairman and CEO Tim Buckley, but Mr Brennan still has plenty of wisdom to share in his new book, More Straight Talk On Investing. An avid marathoner, Mr Brennan sat down with Reuters to talk about how to pace yourself for the long-distance race of financial security. Q: A lot has happened since you wrote your previous book, so did your advice change at all? A: What has changed for investors in the last 20 years has been very beneficial. The cost of investing has been falling dramatically, which is a critical part of being successful. There have been a lot of great product enhancements, like the ubiquity of exchange traded funds and target-date funds. And the choice of how to get financial advice today is completely different. Everything is lower-cost and more available. Q: Investors since 2000 have gone through so many different ty...

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Woman who spat at KFC employee in Nex outlet given 9 months’ probation

aseanpr
3 minutes

SINGAPORE - A woman caught on video spitting at a KFC employee last year was sentenced to nine months' probation on Monday (May 24). Lin Si Ting, 43, pleaded guilty in January to one count each of harassment and using criminal force on the staff. A third charge for breaching Covid-19 regulations was taken into consideration for sentencing. At about 12.40pm on April 22 last year, Lin went to the KFC outlet at Nex shopping centre in Serangoon and placed her order at the counter. Six minutes later, she approached the counter again and shouted at a service manager, asking her why it was taking a long time to fulfil the order and demanding that the food be served to her immediately. The employee, 40, apologised and explained to Lin that there were orders ahead of hers. She told Lin to wait for about five more minutes. Lin became unhappy, and demanded a refund if she was not served her food right away. When the employee agreed to give a refund and asked for the receipt, Lin threw it at her. While the refund was being processed, Lin pulled down her mask and spewed a string of vulgarities at the employee. Lin also pointed at her and said: "Wait for you to die, wait for your whole family to...

SeaPRwire

US ‘national treasure’ on sale at $30m

elean
4 minutes

NYTIMES - A granite-faced townhouse in the Back Bay neighbourhood of Boston was designed more than 100 years ago by artist Louis Comfort Tiffany and is seen today as the most comprehensive surviving example of his residential vision. Its pale facade, with mosaic panels set in limestone and a stained-glass window over copper-clad double doors, is one of only two exteriors known to have been designed by Tiffany and the only one that remains intact. The interior, featuring an oval staircase and an entrance with white marble wainscoting and mosaic stair risers, is equally striking. For decades, the building, known as the Ayer Mansion, has been owned by non-profit organisations connected to Roman Catholic group Opus Dei and has functioned as part of a cultural centre and a residence for women attending nearby colleges. During that time, its doors have periodically been opened to the public for tours, lectures and concerts. All that could soon change. The mansion was recently listed for sale - along with an adjoining building - with a US$22.5 million (S$30 million) asking price. That worries some people who have worked for years to restore what they regard as a crucial monument to Tiffan...

SeaPRwire

Businesses, families would have been severely hit if Singapore closed its borders to migrant workers: MOM

aseanpr
3 minutes

SINGAPORE - Singapore would have been hit hard by a shortfall of at least 100,000 workers and 30,000 domestic workers if migrant workers had not been allowed to enter after the circuit breaker period last year, the Ministry of Manpower (MOM) said on Tuesday (May 18). MOM said that the Republic would have had a labour shortage of 70,000 service sector workers - including those in essential services such as healthcare and cleaning - 30,000 construction workers and 30,000 domestic workers if Singapore had closed its borders last year. The ministry revealed this in response to recent calls by members of the public to shut Singapore's borders entirely in order to bring down the number of imported Covid-19 cases. “The impact to businesses and families would have been severe,” the ministry said, echoing previous statements it previously made on the issue. It noted that it has, since May 2, "completely stopped entry of all from South Asia". "At the same time, businesses have been appealing for more workers to be allowed to enter Singapore to address manpower shortages," it said. On Monday, key representatives from the construction industry and built environment sector issued a plea to the ...

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4 cellmates of infected Changi Prison inmate test negative for Covid-19

aseanpr
4 minutes

SINGAPORE - Four cellmates of the 32-year-old inmate with Covid-19 have tested negative and will be tested again, said the Singapore Prison Service (SPS). They were immediately transferred to separate, isolated cells after the inmate tested positive for the virus, the SPS said in a statement on Sunday (May 16). Meanwhile, 1,050 inmates, staff and partners who had been to an area of Changi Prison Complex have been tested for Covid-19 after the 32-year-old was found to have the virus on Saturday. More than 900 of them are inmates. The SPS said on Sunday that it has completed mass polymerase chain reaction (PCR) testing of the inmates, staff and partners, who had been to Institution A5 between May 10 and May 12. Changi Prison Complex consists of two clusters - Cluster A and Cluster B - with each containing five institutions. No positive cases have been detected so far, but activities in Institution A5 have been suspended as a precautionary measure. These include family visits, counselling sessions, rehabilitation programmes involving vendors and volunteers, and non-critical hospital appointments. All affected areas have been thoroughly cleaned and disinfected, said the SPS. The SPS wi...

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Ripples from India’s Covid-19 surge: The struggle to cope with fewer foreign workers in Singapore

aseanpr
3 minutes

SINGAPORE - The frightening surge in Covid-19 cases in India has had repercussions around the world, and Singapore has not been spared, with delays and disruptions across the economy. Much of the impact stems from a ruling that has barred all long-term pass holders and short-term visitors who have travelled to India within the last 14 days from entering or transiting through Singapore since April 24. The same entry ban for all long-term pass holders and short-term visitors who have been in Bangladesh, Nepal, Pakistan and Sri Lanka kicked in at 11.59pm on Saturday (May 1). How will it impact various sectors in Singapore? Entry ban to further squeeze manpower in S'pore's construction sector Sectors such as construction and landscape maintenance - which employ many Indian and Bangladeshi workers - have been hard hit even as they have faced an already diminished workforce since the onset of the pandemic last year. Home buyers are being warned of longer waiting times for their property and higher costs as construction companies turn to countries such as China and Myanmar to source alternative manpower, which may be more costly given the increased demand. READ MORE HERE Builders: Hoping ...

JCN Newswire
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MC and unerry Enter into Capital and Business Alliance

ruth
3 minutes

TOKYO, Apr 22, 2021 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Corporation (MC) and unerry, inc. (unerry) are pleased to announce the recent signing of their agreement to form a capital and business alliance. MC is one of Japan's leading trading companies, while unerry owns Beacon Bank, one of Japan?s largest platforms for managing behavioral big data and mobility analytics. Their alliance will focus on the application of these data to pursue a variety of businesses that fall within the scope of MC's urban-development and city-management (smart-city) operations.The Beacon Bank platform takes advantage of small, wireless transmitters known as beacons to facilitate location-based searching and interaction. By analyzing the big data gathered through the platform and building its own behavior-forecasting model unerry also provides distributors and retailers with a range of services, including advertising, sales promotions and advice on maximizing the store-front customer experience. The company's initiatives extend even further to making existing businesses IoT compatible and to constructing or providing advice on new business models. A particular focus has been on smart cities an...