SeaPRwire

GIC partnering Chinese asset manager to bid for Philips’ home appliances unit: Sources

elean
2 minutes

LONDON • Singapore sovereign wealth fund GIC has teamed up with Chinese asset manager CDH Investments to submit a joint offer for the US$3.6 billion (S$4.8 billion) home appliance business of Philips, two sources told Reuters. The two are facing competition from Asia-focused private equity firm Hillhouse Capital and a consortium of Citic Capital, Sequoia and TCL Capital, according to the sources, who spoke on condition of anonymity. Philips has put pressure on the bidders to finalise their binding offers by the end of March, and raised the prospect of ditching the sale and pursuing an alternative listing of the business which produces coffee machines, vacuum cleaners and air fryers. Philips declined to comment while the other bidders were not available outside business hours. The intended sale is a central part of Philips' transformation into a health technology business focused entirely on hospital equipment and personal health products. Once a sprawling conglomerate, the Amsterdam-based company has narrowed its focus in recent years, spinning off the lighting and consumer electronics divisions for which it was previously best known. Philips' home appliance unit is valued at about...

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GIC partners Chinese asset manager for Philips’ home appliances bid: Sources

elean
2 minutes

LONDON (REUTERS) - Singapore's sovereign wealth fund GIC has teamed up with Chinese asset manager CDH Investments to submit a joint offer for the US$3.6 billion (S$4.8 billion) home appliance business of Philips, two sources told Reuters. The duo is facing competition from Asia-focused private equity firm Hillhouse Capital and a consortium of Citic Capital, Sequoia and TCL Capital, the sources said, speaking on condition of anonymity. Philips has put pressure on the bidders to finalise their binding offers by the end of March and raised the prospect of ditching the sale and pursuing an alternative listing of the business, which produces coffee machines, vacuum cleaners and air fryers. Philips declined to comment while the other bidders were not available outside business hours. The sale is a central part of Philips' transformation into a health technology business focused entirely on hospital equipment and personal health products. Once a sprawling conglomerate, the Amsterdam-based company has narrowed its focus in recent years, spinning off the lighting and consumer electronics divisions for which it was previously best known. Philips' home appliance unit is valued at about US$3.6...

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More whistle-blowing in US – from home

elean
1 minute

(BLOOMBERG) - You would think that working from home means less trouble at work and less office politics. But the work-from-home phenomenon has triggered fresh frustration for US corporations: workers there are blowing the whistle on their employers like never before. The US Securities and Exchange Commission (SEC) received 6,900 tips alleging white-collar malfeasance in the fiscal year that ended Sept 30, a 31 per cent jump from the previous 12-month record. 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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More whistle-blowing in US – from home

elean
1 minute

You would think that working from home means less trouble at work and less office politics. But the work-from-home phenomenon has triggered fresh frustration for US corporations: workers there are blowing the whistle on their employers like never before. The US Securities and Exchange Commission (SEC) received 6,900 tips alleging white-collar malfeasance in the fiscal year that ended Sept 30, a 31 per cent jump from the previous 12-month record. 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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Pioneer gynaecologist, 104, receives honorary doctorate from NUS

aseanpr
5 minutes

SINGAPORE - Dr Oon Chiew Seng, one of Singapore's first obstetricians and gynaecologists, has received an honorary degree from the National University of Singapore (NUS) for her lifelong dedication to medical education and public service. Dr Oon also set up Singapore's first dementia home after she retired. On Tuesday (Jan 12), the 104-year-old was presented with an honorary Doctor of Letters degree by President Halimah Yacob, who is also the NUS Chancellor, at a ceremony held at the University Cultural Centre at NUS Kent Ridge Campus. NUS said in a press release that the honour was in recognition of Dr Oon's accomplishments as one of Singapore's pioneer obstetrics and gynaecology (O&G) practitioners, as well as for her contributions in women's health, anti-ageing science and dementia. Dr Oon, the youngest of 10 children, was born in Penang in 1916. She was a nurse in the 1930s. She then studied to become a doctor at King Edward VII Medical College in Singapore, a predecessor institution of NUS. She graduated in 1948. During World War II, she continued her studies in India, where she lived in a flat shared by four families with 16 children. Rainwater was constantly leaking through ...

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Paramedics among 80 Home Team officers to receive Covid-19 vaccination

aseanpr
4 minutes

SINGAPORE - The start of the vaccination exercise for the Ministry of Home Affairs (MHA) will see 80 Home Team officers involved in front-line healthcare operations receiving their Pfizer-BioNTech Covid-19 shot on Monday (Jan 11). A total of 1,050 officers will be progressively vaccinated in the coming weeks, the ministry said in a statement. The vaccination exercise, including the second dose, is expected to be completed in six weeks. The personnel involved include Singapore Civil Defence Force's (SCDF) Emergency Medical Services (EMS) officers, staff from the Home Team Medical Services Division, and front-line officers from the Home Team Science and Technology Agency and Singapore Prison Service. The exercise is in line with the Expert Committee's recommendation that those at risk of being infected with Covid-19, in particular healthcare and front-line workers, should be vaccinated first. A total of 1,123 Home Team officers were identified for the first phase of the vaccination operation, and 94 per cent of them agreed to receive the jab. Prior to vaccination, all officers were screened for their vaccine eligibility, based on their medical history and pre-existing medical conditi...

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Australia home prices end rocky 2020 on recovery track

elean
2 minutes

SYDNEY (REUTERS) - Australian home prices climbed for a third straight month in December as 2020 ended on a strong note across major cities and regional markets, with analysts expecting more gains this year as buyers outnumber sellers. The turnaround from the Covid-19-led crunch has provided a much-needed windfall to consumer wealth and confidence, with the country's housing stock already valued at A$7.2 trillion (S$7.33 trillion) by September. Data from property consultant CoreLogic out on Monday (Jan 4) showed national home prices rose 1.0 per cent in December, from November when they added 0.8 per cent. Values were up 3.0 per cent on the previous December. Prices across the major capitals rose 0.9 per cent in December from November, while the regional market surged 1.6 per cent as city dwellers smarting from coronavirus lockdowns sought more living space and houses with gardens. Sydney managed a gain of 0.7 per cent, while Melbourne increased 1.0 per cent. Brisbane, Perth and Adelaide all rose 1.1 per cent in the month. Values for the combined capitals were 2.0 per cent higher for the year, while regional prices jumped 6.9 per cent "As remote working opportunities became more pr...

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Government will start conversation series with young families, says Minister Indranee Rajah

aseanpr
3 minutes

SINGAPORE - A new series of conversations aimed at young families will explore whether working from home, which became the norm during the Covid-19 pandemic, should be here to stay. Announcing the plan for the conversations on Friday (Jan 1), Minister in the Prime Minister's Office Indranee Rajah said the past year has been tough for young couples, with some deferring marriage plans and others putting off having kids, and the Government wants to hear from them about their post-pandemic hopes and needs. Ms Indranee, who oversees the National Population and Talent Division, said the ultimate aim is to better support families, to encourage parenthood. One thing she hopes the conversations will shed light on is how families feel about working from home, forced upon the world by the pandemic. She noted that some couples appreciate the flexibility it brings, while there are also those who find it stressful. "Prior to Covid many employers, and many employees as well, felt working from home was difficult to do," she said. "But... many companies have adapted, many people have also adapted, and what was previously thought not possible has been found to be possible. What is very clear is it c...

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Good to buy homes with the ‘wow’ factor

elean
1 minute

When someone asks for property buying tips, I always offer this bit of advice - buy one that will have no trouble finding buyers easily next time. This seems like a contradiction, especially if you are buying a home with the aim of living there for the long term. So why the need to consider the marketability of the home during your house hunting? 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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Male nurse jailed 16 weeks for assaulting nursing home resident

aseanpr
3 minutes

SINGAPORE - Angered by a nursing home resident who was throwing a tantrum, a male nurse assaulted the 67-year-old man and caused him to be hospitalised for seven days. After Flores Alvin Jay Vargas, 36, kicked and threw punches at the wheelchair-bound resident, he told another nurse not to reveal what he had done. On Wednesday (Dec 23), the Philippine national was jailed for 16 weeks after he pleaded guilty to one count of assault. He is no longer working at the All Saints Home in Jurong East. Deputy Public Prosecutor Niranjan Ranjakunalan told the court that the incident occurred at around 6pm on May 25, 2019. The resident, who was left with brain trauma injuries after a 2017 traffic accident, had requested for a knife to cut an apple. He threw a tantrum when his request was turned down, said DPP Niranjan. The resident then repeatedly pressed the call bell next to his bed, and Vargas approached him to explain why staff could not hand him a knife. However, the resident continued pressing different call bells, and he pulled and tore Vargas' shirt while the nurse was attempting to take a handheld bell away from him, added the DPP. "The accused became angry and punched the victim, who...

JCN Newswire
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Arcelik and Hitachi Global Life Solutions Announce their Intention to Form a Joint Venture in the Global Home Appliances Business (excluding Japan)

ruth
6 minutes

TOKYO, Dec 17, 2020 - (JCN Newswire) - Today Arcelik A.S. (ARCLK:IST, "Arcelik") and Hitachi Global Life Solutions, Inc. (Hitachi GLS) have signed a share purchase agreement to establish a new joint venture company. As part of the transaction, Hitachi GLS will establish a new company into which it will transfer its global home appliances business outside of Japan. Arcelik will acquire 60% ownership in the new company, which both partners aim to establish in the spring of 2021, subject to regulatory approvals and satisfaction of other customary conditions.The transaction value is calculated as USD 300 million on a cash-free and debt-free basis for 60% of the business, which is subject to customary adjustments based on the balance of net debt, net working capital of the Company, and minority shares adjustment for the outstanding minority shares as of the closing date.Arcelik and Hitachi GLS plan to build a competitive value chain leveraging the complementarity of both companies' strategies and create growth opportunities that will increase their access to new markets, enhance their product ranges and sales capabilities, while delivering increased competitiveness across supply chain a...

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Shapes of Home photo contest: Winning black-and-white photo of Toa Payoh Central took almost 20 hours to post-process

aseanpr
4 minutes

SINGAPORE - A black-and-white photo of Toa Payoh Central that took close to 20 hours to post-process is the winning image in the Housing Board's (HDB) Shapes of Home photo contest. The photo, which shows off the straight architectural lines of buildings and HDB blocks set against wispy clouds on a sunny day, was a labour of love by videographer Stefan Tan. "Initially, I corrected all the shadows and highlights but after looking at the final image, it did not achieve the vision I desired," said the 32-year-old, who picked up photography as a hobby in 2011 and turned professional in 2017. "For the final edit, I decided to completely darken all the other elements that were distracting, keeping only the key elements. Black-and-white photography is one of the hardest things to master," said Mr Tan, who is particularly interested in landscape and architecture photography. But his laborious work paid off, as the panel of judges said the image was a clear choice for the first prize - a Canon EOS 90D with an 18-135mm kit lens, worth $2,379 in total. One of the judges, Mr Bryan van der Beek, 44, a professional commercial and editorial photographer, said the photo was a "clear standout" for h...

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Nursing home staff tested for Covid-19 once every two months as part of surveillance measures: MOH

aseanpr
4 minutes

SINGAPORE - Nursing home staff in Singapore are now being tested for Covid-19 once every two months as part of measures to ensure that senior citizens in the homes are kept safe from the virus. In response to queries from The Straits Times, a Ministry of Health (MOH) spokesman said that all nursing home providers will complete one round of testing of all staff every two months as part of a regular surveillance testing programme that began in the last days of October. There are about 9,000 nursing home employees here and 16,000 residents. Surveillance testing of nursing home residents will also be conducted in the coming months, added the spokesman. The ministry will also study how to introduce testing for other groups that interact with nursing homes, such as volunteers and external vendors, as other methods of testing - like Antigen Rapid Testing - emerge. "This will help maintain the level of protection for seniors in nursing homes, in the light of the higher risks that can come with the overall safe reopening," said the spokesman. All nursing home staff and residents underwent one round of mass testing in May as a precautionary measure. At the time, the mass testing exercise als...

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...

JCN Newswire
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Hitachi: “Paperless & Office” Innovations to Achieve New Workstyles in the New Normal

ruth
5 minutes

TOKYO, Oct 27, 2020 - (JCN Newswire) - Hitachi, Ltd. (TSE:6501) announced today that it is undertaking efforts with a view toward adopting new workstyles under the "New Normal," in which a use of "Working from Home" will be the standard, starting from April 2021. Initiatives will include process innovations and office innovations, such as eliminating personal seals (commonly used in Japan in place of signatures), and reducing paper usage by about 500 million pages per year. At the same time, Hitachi will further promote a "Time- & Location-Free" workstyle, in which employees are not required to work at a specified office location.Hitachi will further encourage a diversification of workstyles, in which "Working from Home" serves as a driver for innovations. Furthermore, to draw out the full potential of each employee and increase productivity, it will apply frameworks based on job descriptions and performance management to further accelerate the transition to job-based human resources (HR) management, in which each employee's work, role, and the expected output are clearly defined.Main initiatives targeting new workstyles under the "New Normal"1. Process innovations eliminating ...