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Solidarity shown by WWII generation can guide Singapore in pandemic: Lawrence Wong

SINGAPORE - The sense of solidarity and collective responsibility that the pioneer generation embodied during the Japanese Occupation serves as a guide to how Singapore should deal with the Covid-19 pandemic, Education Minister Lawrence Wong said on Monday (Feb 15) on the anniversary of the fall of Singapore. Drawing parallels between the pandemic and World War II, he said the pandemic can be a defining moment in Singapore's history, where Singaporeans were tested but overcame the "toughest of circumstances" with resilience and resolve. The country's pioneers, who endured the hardships of war, were a generation who got things done, served with honour, and helped built Singapore, said Mr Wong, who also co-chairs the multi-ministry task force tackling the pandemic. "They have taught us that there is no trouble we cannot endure; no calamity we cannot overcome as a people." While the Japanese Occupation of Singapore lasted more than three years, said Mr Wong, it is unclear how long the pandemic will last, although "at some point, it will be over". "At that time, I hope we can look back and say that this has been a defining moment in our history. We have been tested in this crucible, bu...

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Singapore Budget 2021: 5 things to look out for

SINGAPORE - This year's Budget will be unveiled on Tuesday (Feb 16) as Singapore continues to tackle the Covid-19 pandemic and its economic fallout. Deputy Prime Minister and Finance Minister Heng Swee Keat has said that helping workers and firms adapt, innovate and grow will be a key priority for Budget 2021 - his sixth Budget speech. The Government will also continue to support workers and businesses, especially those in hard-hit sectors, he said. Last year, the Government set aside a war chest of almost $100 billion - or nearly 20 per cent of gross domestic product (GDP) - to cope with the pandemic, with most of the funds used to support businesses and help workers keep their jobs. Here are five things to look out for on Tuesday: 1. More targeted support This year's Budget is expected to target sectors hit hardest by the pandemic, but overall spending will be reined in after extensive support measures were rolled out last year. Mr Liang Eng Hwa, chairman of the Government Parliamentary Committee for Finance, Trade and Industry, told a pre-Budget round-table last month: "I expect this Budget to be a lot more targeted and differentiated than before, so we really channel and alloca...

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Three men investigated by police for allegedly protesting outside Myanmar Embassy in S’pore

SINGAPORE - Three men are being investigated for purportedly participating in a public assembly without a permit outside the Embassy of Myanmar in Singapore, the police said on Sunday (Feb 14). Two of the men are Japanese nationals, aged 48 and 61, and the third is a 49-year-old Indonesian. The police were alerted at 3.45pm on Feb 10 to three men allegedly protesting outside the embassy to demonstrate "their support for the people of Myanmar". Two placards, three mobile phones and a letter were seized. The police reminded the public that "organising or participating in a public assembly without a police permit in Singapore is illegal and constitutes an offence under the Public Order Act". Organisers of illegal assemblies face fines of up to $5,000 and participants can be fined up to $3,000. "The police will not grant any permit for assemblies that advocate political causes of other countries," it said. "Foreigners visiting or living in Singapore should abide by our laws." On Feb 5, the police had warned against holding protests in Singapore related to the ongoing political events in Myanmar, saying: "The police are aware of online posts by Myanmar nationals working or residing in S...

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Singapore economy to grow by 4-6% this year; 2020 contraction shaved to 5.4%

SINGAPORE - The Singapore economy will grow by 4.0 to 6.0 per cent this year, said the Ministry of Trade and Industry (MTI) on Monday (Feb 15), maintaining its forecast announced last November, after weighing positive and negative developments in key external economies. The ministry raised its final estimate for coronavirus-hit 2020, stating that the economy shrank by 5.4 per cent, making it Singapore's worst-ever recession since independence. Still, this figure tops the flash estimate of 5.8 per cent given last month and is higher than the 6.25 per cent average for the 6.5 to 6.0 per cent range it gave in November. The economy grew by 1.3 per cent in 2019. MTI said that since the last Economic Survey of Singapore in November 2020, there has been further progress in Covid-19 vaccine development and deployment, with several approved vaccines being rolled out in many economies around the world. "Although the speed of vaccine deployment varies, advanced economies like the US and Eurozone are likely to reach population immunity by the second half of this year, which should in turn spur their economic recoveries," it said in a press release issued on Monday (Feb 15). Growth prospects fo...

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Race to go green on Singapore’s roads starts with clear rules and runway

SINGAPORE - American electric carmaker Tesla has returned to Singapore, posting prices which make equivalent petrol cars seem overpriced. An inter-ministerial Singapore Green Plan 2030 launched last week has also raised proposals to further incentivise the adoption of electric cars - on top of tax breaks already in place. 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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Singapore Budget 2021: Stay updated with ST’s live coverage

SINGAPORE - This year's Budget, which will be announced by Deputy Prime Minister and Finance Minister Heng Swee Keat on Tuesday (Feb 16), comes as Singapore has spent about a year tackling the Covid-19 pandemic and the subsequent economic fallout. Mr Heng has said that helping workers and firms adapt, innovate and grow will be a key priority for Budget 2021 - his sixth Budget speech. The Government will also continue to support workers and businesses, especially those in hard-hit sectors, he said. Find out how and why the Budget matters to you with The Straits Times, which will be offering live coverage of this year's announcements as they are delivered in Parliament from 3pm. Real-time updates Our live show, starting at 2.55pm, will have a live stream of Mr Heng's speech. Get instant, bite-size updates on our special live blog on straitstimes.com. Watch video highlights of the speech, and read in-depth analyses on what the Budget means for you on our various platforms. Stay updated through our Facebook and Twitter accounts, as well as our Telegram channel, and visit our microsite for more reports. Special-edition newsletter Get Budget highlights and a summary of key announcements ...

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World-Renowned Keynote Speakers announced for POWER WEEK ASIA 2021

SINGAPORE, Feb 9, 2021 - (ACN Newswire) - The POWER WEEK Organising Committee is proud to announce the updated speaker lineup for POWER WEEK ASIA Virtual Conference, which is set to commence on 15 - 18 March 2021. Across 4 days, we will be broadcasting live interactive presentations, in-depth panel discussions, and networking sessions from leading experts across the world.POWER WEEK ASIA attracts the industry leaders from national power companies, government regulators, policy makers, renewable & IPPs, investors and suppliers from around the globe. With C-level speakers and attendees all under one roof, it offers the chance to learn the success strategies and pitfalls of notable power projects.The conference features 20+ engaging sessions covering government regulation & policy, market liberalisation, energy mix & integration, fossil fuels in power market, demand & supply, renewable energy outlook, energy transition, utility-scale solar development, wind energy, tariffs, energy storage, smart grid technologies, mini-grid & microgrid, digitalisation, electric vehicles, power trading, project finance, project development, energy efficiency and many more.Join in fr...

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Major events in Singapore unfazed by WEF postponement

SINGAPORE - The decision by the World Economic Forum (WEF) to postpone its leadership summit in Singapore has not deterred those planning other major events here, such as the Shangri-La Dialogue in June. Several organisers of upcoming high-profile meetings, conferences and exhibitions told The Straits Times on Friday (Feb 5) they would press ahead. While some pointed to pre-existing plans to scale down or adopt a hybrid format including virtual elements, all acknowledged that they were still working out specifics amid the uncertainty of the global Covid-19 pandemic. Explaining the rescheduling of its special annual meeting from late May to between Aug 17 and Aug 20, the WEF said worldwide travel restrictions and differing quarantine and air transport regulations had posed challenges to its plans to gather global leaders face-to-face. But the other high-level event of the year - the annual Shangri-La Dialogue by the London-based International Institute for Strategic Studies- remains committed to its dates of June 4 to 6. The Dialogue, which was cancelled last year for the first time since its inception in 2002, gathers defence policymakers from around the world to discuss security i...

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9 Britons, 1 Singapore PR charged over unlawful gathering on yacht on Boxing Day

SINGAPORE - Nine Britons and a Singapore permanent resident (PR) appeared in a district court on Friday (Feb 5) after they allegedly took part in an unlawful gathering on a pleasure craft in breach of Covid-19 rules on Dec 26 last year. They were each charged with an offence under the Covid-19 (Temporary Measures) Act. The nine Britons are: Annabelle Morgan Duke, 26; Philip Edward Knatchbull Holmes, 27; Amy Grace Ropner, 28; Mark Alexander Bellamy, 29; Amy Georgina Hunt, 30; Thomas Cuthbert Williams-Jones, 30; Oliver Francis William Campbell, 31; Benjamin David Waters, 32 and Amy Alexandra Stewart, 32. The sole PR is Mark Lau San Mao, 30. The court heard on Friday that Lau and Ropner intend to plead guilty to their charges on March 1. The cases involving the remaining eight people have been adjourned to Feb 26. More on this topic Related Story Licence of pleasure craft suspended after group filmed partying near Lazarus Island on Boxing Day Related Story Six members of 12-person gathering on Lazarus Island fined $3,000 each for flouting safe distancing measures

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Singapore paint billionaire gets windfall as dream deal comes true

SINGAPORE (BLOOMBERG) - Almost a decade ago, the son of Singapore paint tycoon Goh Cheng Liang set his sights on gaining control of Japan's biggest paint maker. He finally succeeded, and that's been a boon for the family's wealth. Their Wuthelam Holdings took a majority stake in Nippon Paint Holdings in a US$12 billion (S$16 billion) deal that was completed last month, according to filings this week. That's boosted their fortune to US$24 billion from about US$16 billion before the alliance was announced, according to the Bloomberg Billionaires Index. For years, Wuthelam and Nippon Paint operated a business with joint ventures in countries including China, India and Malaysia. In August, Nippon Paint struck an agreement that allowed them to buy out the joint venture and take over Wuthelam's wholly owned Indonesia business. In turn, the Gohs' increased their stake in Nippon Paint to about 58 per cent. "The growth will continue," said Bloomberg Intelligence analyst Horace Chan, who estimates the alliance could lift Nippon Paint's net income by about 64 per cent this year. "It will help the company in terms of simplifying the corporate structure, which will allow more efficient allocati...

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Tiger Brokers To Be The One-Stop Online Trading Solution For Investors; Adds Two New Trading Services

SINGAPORE, Feb 4, 2021 - (ACN Newswire) - Xiaomi-backed online trading platform Tiger Brokers Singapore today announced the launch of two new services on their platform - Daily Leveraged Certificates (DLCs), and US-listed over the counter (OTC) stocks, designed to help seasoned investors looking for a full suite of investment options to diversify their portfolios. These services allow Singapore-based users of the Tiger Trade platform look for short-term trades and selected US-listed over the counter (OTC) stocks where securities are traded for companies not listed on the main exchanges in the US, such as LVMH-MOET Hennessy Louis Vuitton (LVMHF), Softbank Group (SFTBY) and Bitcoin investment trust (GBTC).The US OTC stocks service is now available on Tiger Brokers' platform, and DLC by the end of February.Eng Thiam Choon, CEO of Tiger Brokers shared, "We want to be a one-stop solution for our investors as we embrace more and more investment alternatives on our Tiger Trade platform. We have been seeing an increase of requests from our users to add DLCs and OTC services, especially in Q4 last year due to investors' growing demands for differential investment instruments. It is importan...

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Singapore property firms face setback as workers stay at home

SINGAPORE (BLOOMBERG) - Singapore's battered property firms are hitting a snag in their recovery after rising coronavirus infections led to an extension of remote work in the city-state. Shares of commercial developers and real estate investment trusts (Reits) have fallen since authorities announced last month that working from home will remain the default arrangement. The government is trying to minimize the risk of transmission at offices after some cases in the workplace led to community clusters. The move adds to headwinds for developers and Reits, amid questions over what the future holds for offices worldwide even after the pandemic. It will be harder to lease out vacancies and there will be pressure to lower rents if the work-from-home arrangement persists, said Terence Chua, an analyst at Phillip Securities Research Pte. "The new default will cast a pall over occupancies going forward," said Justin Tang, the head of Asian research at United First Partners in Singapore. Mapletree Commercial Trust, which owns Singapore's largest mall VivoCity and a nearby office building in its portfolio, has fallen 3.2 per cent since the Jan 22 announcement. Far East Hospitality Trust has dr...

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Morning Briefing: Top stories from The Straits Times on Feb 2

Good morning! Here are our top stories to kick-start your Tuesday, Feb 2. Myanmar military removes 24 ministers, deputies in Suu Kyi's government, names 11 replacements Ms Aung San Suu Kyi and key officials were detained as the military seized power. READ MORE HERE Biden demands Myanmar military cede power, orders sanctions review This crisis marks a first major test of Biden’s pledge to collaborate more with allies on global challenges. READ MORE HERE Myanmar emergency: 5 things you need to know about the political crisis Why did the military challenge the latest vote? READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Singapore Parliament declares climate change a global emergency MPs raised suggestions on how Singapore can do more to tackle climate change. READ MORE HERE Covid-19 vaccines can't currently be given to S'poreans who wish to travel overseas, due to limited supplies: Janil Healthcare and front-line workers, as well as seniors, have to be prioritised, said Senior Minister of State for Health Janil Puthucheary. READ MORE HERE 2 people at Mediacorp actor Jeffrey Xu's party face charges for breaking Covid-19 rules The party at a...

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S’pore wants to grow manufacturing base, attract top players

Singapore is working to grow its strong manufacturing base and attract top players to anchor their operations here, said Trade and Industry Minister Chan Chun Sing yesterday. Manufacturing remains a key pillar of Singapore's economy. Building on its existing strengths in the sector, the country aims to expand its capacity and capabilities in emerging areas of growth, such as biomedical science, agri-tech, urban mobility and sustainability. Mr Chan told the media after a visit to biotech firm Illumina that with leading firms in the industry setting up operations - and growing - here, good job opportunities will be available for Singaporeans. Since Illumina set up in Singapore in 2008, it has not only increased its production capacity here but also helped to grow the ecosystem of supporting small and medium-sized enterprises, he added. Mr Chan said the firm is the kind of manufacturing leader that Singapore wants to attract. Illumina has 1,300 staff here, producing specialised products. These include about 95 per cent of global demand for microarray bead chips and 85 per cent of global core sequencing consumables - equipment used in diagnosing medical conditions. "This is what we mea...

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Singapore will have capacity to get population vaccinated against Covid-19 by Q3 2021, but may take longer to do so

SINGAPORE - Singapore will have the capacity and capability to get its population vaccinated by the third quarter of this year, said Senior Minister of State for Health Janil Puthucheary. However, it might take up to the end of the year to do so, depending on a combination of factors. These factors include vaccine supply, as well as the willingness of Singaporeans and long-term residents to get vaccinated, Dr Janil said. "Our ability to deliver on this is present, and will be present," he said. "But we hope that the communications, outreach and engagement necessary in order to make this happen is something that members of this House will assist with." He was responding to Workers' Party chairman Sylvia Lim (Aljunied GRC), who had asked for clarification on when the nationwide Covid-19 vaccine roll-out will be completed. Prime Minister Lee Hsien Loong said in December that the country will have enough vaccines for everyone in Singapore by the third quarter of this year, if all goes according to plan. Dr Janil replied that although this still holds true, there may be members of the public who require further explanation on why getting vaccinated is the right thing to do, or require f...

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Man arrested in Malaysia for allegedly extorting from woman in Singapore he met on dating app

SINGAPORE - A 33-year-old man in Malaysia has been arrested for allegedly extorting sexual favours and money from several women he had befriended online. Among the victims is a woman from Singapore. She was persuaded to travel to Malaysia, where compromising videos she had sent him earlier were used to extort from her, the Singapore Police Force said in a statement on Saturday (Jan 30). To stop him from circulating the videos, the woman transferred about $200,000 to a bank account provided by the man. Police here were alerted to the incident when the victim made a report on Oct 19 last year. The victim said she had met the man via a dating app, and claimed he told her to send compromising videos of herself. After doing so, he suggested they meet, but in Malaysia. When she got there, the man sent a male driver to pick her. The suspect then purportedly threatened to circulate the videos she had sent him, unless she had sex with the driver. She relented to the demand. After she returned to Singapore, she said she continued to receive threats from the suspect and was told to transfer money to prevent circulation of the videos. Between February and October last year, the victim transfer...

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Lion cub born in S’pore Zoo is first to be conceived through assisted reproduction

SINGAPORE - A lion cub has for the first time in the history of the Singapore Zoo been conceived through assisted reproduction. The birth of the cub - named Simba - last October preserves its bloodline at the zoo, Wildlife Reserves Singapore said on Tuesday (Jan 26). But, unlike his fictional equivalent in the movie Lion King, Simba will never meet his namesake father in the zoo, Mufasa, which died after his semen was collected. The 20-year-old lion's deteriorating health, which included muscle atrophy, was a key factor to ending his life, said WRS. The decision to euthanise Mufasa was not an easy one, and zookeepers and veterinarians took some time to decide. African lions in the wild usually live between 10 and 14 years. While Mufasa lived to a ripe old age, it did not sire any cubs because of his "aggressive behaviour", which did not bring about successful pairings with any female, said WRS. It added that Simba's birth was the product of the fourth and only successful assisted reproduction attempt involving Mufasa, whose genes are extremely valuable to the genetic diversity and sustainability of African lions in zoological institutions. The species is listed as vulnerable under ...

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Chinese bank’s first overseas innovation centre opens here

Shanghai Pudong Development Bank (SPD Bank) has opened its first overseas innovation centre here, making Singapore its fintech beachhead to South-east Asia. "The SPD Bank Singapore Innovation Centre is committed to leveraging Singapore's strategic development in fintech to identify and partner high-potential technology companies," the bank said yesterday. The centre aims to promote fintech adoption and add value to Singapore's Smart Nation drive, said the bank. The Straits Times understands that the unit is currently operating out of SPD Bank's branch at the Marina Bay Financial Centre while the bank looks for a permanent site for it. For now, the bank will hire 20 staff - mostly Singaporeans in fintech roles - for the centre. SPD Bank declined to disclose the size of its investment in the new unit. As a global financial centre and a key financial player in China's Belt and Road Initiative, Singapore is the ideal location for SPD Bank's first innovation centre because of its strong fintech ecosystem, said the bank's president Pan Weidong. "With a growing number of leading financial players making their foray into Singapore, the Singapore Government has put in great efforts to enhan...

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Four initiatives to help position Singapore as talent hub in edutech sector

SINGAPORE - An industry-led coalition looking at opportunities for Singapore in the educational technology sector has come up with several initiatives to position the country as a global talent hub in the field. The four initiatives by the Alliance for Action on EduTech - ZilLearn Skills, Agility Growth Index, WorkGuide.co and eduCLaaS Academy - target various segments of the current and potential workforce. Together, they aim to support Singaporeans in their skills acquisition and career pathways, to be better prepared for current challenges and to embrace new opportunities, said the Ministry of Trade and Industry on Monday (Jan 25). ZilLearn Skills is a career advancement platform that provides personalised career and learning recommendations for Singaporeans. This can be done through skill sets evaluation and identifying upskilling and reskilling needs. The target launch date is in March or April. The Agility Growth Index, which has already been launched, is an analytics tool that can help companies, regardless of size, understand the learning behaviours and motivators of their workforce. This could allow them to effectively engage and retain high performers. WorkGuide.co, set t...

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Singapore online brokerage Tiger Brokers sees strong retail investor growth in Q4 2020 with 108% increase in new user sign ups

SINGAPORE, Jan 20, 2021 - (ACN Newswire) - Xiaomi-backed online brokerage Tiger Brokers Singapore (Tiger Brokers https://www.tigerbrokers.com.sg/) today announced that they saw 108 per cent growth in the number of new investors in Q4 2020 as compared to Q3 2020, with trading volume increased by 215 per cent also on a quarter on quarter basis. Since February 2020, Tiger Brokers also saw the increase in Gen Z investors on the platform, which made up 30 per cent of Singapore's customer base.Tiger Brokers also announced four new strategic partnerships with financial technology provider, Iress, one of the largest and most active online trading communities, TradingView, Global financial market data and infrastructure provider, Refinitiv, and Asia's leading Financial Group, DBS. These partnerships are aimed at strengthening their online platform, by allowing investors to gain access to best-in-class and up-to-date financial information so that they will be well-informed before making their investing decisions in real time, as well as allowing investors instant fund transfer into the Tiger Trade platform respectively.In addition, Tiger Brokers also announced the launch of their new product...