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Singapore firms worry most about rising costs; 40% see losses this year: SCCCI survey

elean 19 10 月

3 minutes

SINGAPORE (THE BUSINESS TIMES) - Some 57.3 per cent of Singapore businesses surveyed saw their costs rise this year, nearly double the 28.8 per cent who did so last year. Of those who reported higher costs, about three-quarters said that their costs were up by 25 per cent. The survey also flagged rising business costs as the biggest concern among businesses, followed by availability of suitable manpower and pandemic-related restrictions. Conducted between June 10 and Aug 11, the annual survey by the Singapore Chinese Chamber of Commerce and Industry (SCCCI) garnered feedback from 1,058 businesses, of which 92 per cent were small and medium-sized enterprises (SMEs). Most were in the services sector, while others were in manufacturing and construction. Sentiment on financial performance remained depressed, albeit improved from last year. Some 47.2 per cent of businesses were projecting a decline in their revenue for 2021. This was down from the 80.3 per cent of firms that projected revenue decreases last year. But a sizeable 40 per cent of businesses were expecting losses for this year. Of this group, close to half of them said that their losses would be greater than last year's. Fir...

Some hawkers, diners confused as stricter Covid-19 rules kick in at hawker centres, coffee shops

aseanpr 13 10 月

4 minutes

SINGAPORE - New rules forbidding unvaccinated people from dining in at hawker centres and coffee shops that kicked in on Wednesday (Oct 13) have left some confused. When The Straits Times visited several places, there were checks conducted at some but not others. At Hougang 203 Coffee Shop, stallholders were actively asking patrons to show their vaccination status. Patrons like Mr K. Tang, who works in the logistics sector, was annoyed by the constant checks as he moved from stall to stall. "I've been asked three times in 10 minutes for my vaccination status at this coffee shop. Why can't they just check once? I will have to show it for a fourth time later when I buy food for my wife. It's so frustrating," he said. At Tiong Bahru Market and Hawker Centre, officers from the National Environment Agency (NEA) were seen asking the breakfast crowd streaming in about their vaccination status. One officer reminded an unvaccinated woman that she could only buy food to take away. Despite the usual crowds, operations were smooth and there were no long queues. But at hawker centres in Kovan and Tampines, patrons were seen walking in and out, and having their meals freely. At Kovan food centre...

US stocks mixed as markets gird for higher interest rates

elean 30 9 月

2 minutes

NEW YORK (AFP) - Wall Street stocks were mixed on Wednesday (Sept 29), with tech shares falling again, as investors reassess equity bets in the expectation of higher interest rates. "It's just a case of seeing interest rates are moving up and you're seeing some of the air come out of high multiple stocks," said Briefing.com analyst Patrick O'Hare. The movement follows a jump in US Treasury yields after the Federal Reserve signalled plans to taper its bond-buying stimulus later this year. The Dow Jones Industrial Average ended with a 0.3 per cent gain at 34,390.72, and the broad-based S&P 500 rose 0.2 per cent to 4,359.46. But the tech-rich Nasdaq Composite Index slipped 0.2 per cent to close at 14,512.44. The mixed session came on the heels of deep losses Tuesday, when investors were also troubled by disappointing US consumer confidence data and partisan disagreement over lifting the US debt ceiling and averting a government shutdown. O'Hare said the jump in US Treasury bond yields over the last two weeks has prompted investors to recalibrate investments at a time when they are also rejiggering portfolios just before the end of the third quarter. Among individual companies, Micron ...

My shirt was burned off, my body was burned black, recalls worker injured in Tuas blast

aseanpr 29 9 月

4 minutes

SINGAPORE - Another worker has testified before an inquiry committee about the trauma he faced following a Feb 24 blast at a factory in Tuas. On Wednesday (Sept 29), Mr Rahad Asfaquzzaman, 30, recalled how he had been flung 2m from the force of the explosion, and the traumatic events that continue to give him nightmares. "After the explosion, I got up from the ground and realised I was burning. My shirt had burned off, leaving only some cloth around my neck and my pants on. I immediately tore what was left of my shirt off from my body," the Bangladeshi national said. "I saw that my body had burned black and there was blood coming out from my mouth from inside my body." Mr Rahad's facial scars - like those of the other injured workers who had testified before him - were visible beneath his mask. He added: "I am unable to produce tears when I cry, and when I am under the sun, everything I see is a blur." Mr Rahad is the fourth injured worker to testify before the committee, chaired by Senior District Judge Ong Hian Sun, that is looking into the causes and circumstances of the blast at 32E Tuas Avenue 11. Three workers, Mr Subbaiyan Marimuthu, 38, Mr Anisuzzaman Md, 29, and Mr Shohel ...

‘We were screaming in pain’: Worker recalls Tuas explosion at inquiry hearing

aseanpr 28 9 月

3 minutes

SINGAPORE - Moments after an explosion shook a Tuas building and blew out its window panels, the eight workers who were in the workshop at the time ran to a nearby open field screaming in agony. Workers from neighbouring units went to splash water and hose down the badly burnt workers. The brutal experience of the Feb 24 blast at 32E Tuas Avenue 11 was shared by one of the injured workers, Mr Hossain Jitu, 32, before an inquiry committee on Tuesday (Sept 28). "We were screaming in pain at the open field, and workers from neighbouring units came out and started throwing and spraying water on us using a water hose," the Bangladeshi national testified. "I realised my shirt was on fire and part of it had already burnt off. I removed what was left of my burning shirt using my left hand." Mr Jitu, whose scars were visible beneath his mask in court, suffered burns to 54 per cent of his body and had difficulty breathing and closing his eyes. "The skin beneath my eyes was burnt and I was unable to close my eyes and sleep after the accident," he said. Three workers, Mr Subbaiyan Marimuthu, 38, Mr Anisuzzaman Md, 29, and Mr Shohel Md, 23, died from severe burns that covered 90 per cent of the...

3 tips on managing money in a pandemic

elean 26 9 月

6 minutes

(NYTIMES) - Maybe you lost your job. Maybe your hours were cut. Or maybe you had to take over caregiving responsibilities. If your income fell precipitously in the past 18 months - even if things have become better - it is an uncertain time. High inflation in some sectors does not help, and neither do rising housing costs. Yet jobs - though maybe not the ones that hotel and restaurant workers, theatre people and small business owners had before - have been increasingly available in many parts of the country, though job growth has slowed recently. No two situations are exactly alike, but when you have been on edge - emotionally and financially - for this long, it is especially important to conduct three types of check-ins. First, find another human to talk to who has seen more (and hopefully knows more) than you. Then, do a quick nuts-and-bolts audit of your financial standing. Finally, check in on your feelings - which can influence how you plot a recovery from a pandemic that has permanently expanded our understanding of what qualifies as a volatile industry. 1. Everyone can use a good financial planner They are a reliable source of guidance, but you may not be able to afford one ...

CEKD IPO shares oversubscribed by 131.61 times

indie 21 9 月

3 minutes

KUALA LUMPUR, Sep 21, 2021 - (ACN Newswire via SEAPRWire.com) - The shares of CEKD BERHAD ("CEKD" or the "Group") has been oversubscribed by 131.61 times ahead of the Group's listing on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").Managing Director of CEKD, Ms. Yap Kai Ning"We are extremely grateful for the strong confidence our investors have in CEKD, our business, prospects and future plans. Our hard work to build a sustainable business has paid off," said Managing Director of CEKD, Ms. Yap Kai Ning.CEKD is raising RM24.28 million from the IPO exercise. From the proceeds, the Group will use RM8.8 million for the acquisition of a factory for Hotstar, RM3.0 million for purchase of new machinery, RM1.3 million for upgrade and development of computer software and server, RM4 million for repayment of bank borrowings, with the remainder to be used for marketing activities, general working capital and listing expenses."This is just the beginning of our corporate journey. The expansion plan will give a push to the growth of the Group's business," Ms. Yap explained. "This is also part of the strategy to increase automation and capacity to meet the demand of our ...

Probation not recommended for S’porean at UK uni who took voyeuristic videos of women: Prosecutor

aseanpr 20 9 月

3 minutes

SINGAPORE - Probation is not recommended for a Singaporean student from a top British university who filmed multiple women at various places here, a district court heard on Monday (Sept 20). The prosecution told this to the court after the offender was earlier assessed, including by a probation officer, for his suitability for probation. On July 29, the man, 23, had pleaded guilty to seven counts of insulting the women's modesty and an offence under the Films Act. On Monday, defence lawyer Kalidass Murugaiyan told the court that he had some questions for the probation officer and psychologist who attended to the offender. The lawyer told District Judge Tan Jen Tse he wanted to know how the risk assessment was undertaken. The offender, who cannot be named due to a gag order, is now out on bail of $20,000. His pre-trial conference will be held on Oct 18. During the earlier proceeding on July 29, the court heard that the clips he recorded involved 11 identified women and one unknown victim. Deputy Public Prosecutor (DPP) Foo Shi Hao then applied to the court for the gag order on his identity to be lifted, noting that the victims were unanimous in supporting the move. The gag order had...

934 locally transmitted Covid-19 cases in S’pore, highest since April last year

aseanpr 18 9 月

3 minutes

SINGAPORE - There were 934 new locally transmitted Covid-19 cases on Friday (Sept 17), the highest daily number since April last year. There were 838 new cases in the community and one imported one, as well as 96 cases among dormitory residents, said the Ministry of Health (MOH) in its daily update. Of the new local cases, 241 are seniors above 60 years old. This brings Friday's total tally to 935 cases. A new Covid-19 cluster with 26 cases emerged at Sembcorp Marine Admiralty Yard, where the cases include 23 members of staff. There are currently 813 Covid-19 patients in the hospital, down from 837 the day before. There were also 90 people in need of oxygen supplementation, and 14 in critical condition in the intensive care unit. Of those who have fallen very ill, 82 are seniors above 60 years. The cases requiring oxygen in Singapore have seen more than a threefold increase in a week, from 25 cases on Sept 10. The total number of infections in Singapore now stands at 75,783. Orange Valley Nursing Home in Simei now has a total of 17 infections after three cases were added to the cluster. The Blue Stars Dormitory in Upper Jurong Road cluster is at 71 now after adding 17 new cases. Av...

CakePunks, the NFT Project Disrupting the Decentralised Collectible Space

pandora 15 9 月

3 minutes

Seoul, South Korea / SEAPRWire / September 15, 2021 /– Recently, CakePunks announces the launch of ERC-20 bridge. This allows for the token to be purchased with Ethereum as well as BNB. The token initially occupied the Binance Smart Chain and as such could only be purchased with BNB, the bridge is now available on FibSwap, a decentralised exchange which prides itself on it’s -cross chain capabilities (https://www.fibswap.io/). Cross chain communication is a problem for cryptocurrency traders throughout the world, fib swap solves this issue by creating a ‘bridge’ which allows different blockchains to communicate with each other. Allowing for the purchasing of CakePunks with Ethereum paved the way for the onboarding of a whole new set of investors prior to the release of the next batch of NFT’s. The CakePunks token allows for holders to purchase limited edition NFT’s through the CakePunks proprietary DApp (Decentralised Application), the initial batch of 100 were released on Monday 6th of September. The CakePunks tokens used to purchase these NFT’s were then burned, essentially removing 12% of the supply from circulation forever. This will allow for a higher price floor to be set and...

60% of job discrimination complaints in S’pore each year are nationality-based

aseanpr 15 9 月

3 minutes

SINGAPORE - Out of an average of 379 workplace discrimination complaints received each year from 2014 to the first half of 2021 by Singapore's fair employment watchdog, 233 - or around 60 per cent - were nationality-based, said Manpower Minister Tan See Leng on Tuesday (Sept 14). There were also complaints about discrimination based on age (69), gender (49) and race and language (39). There were 13 complaints that had to do with marital status and family responsibilities, as well as seven for religion-based and two for disability-based discrimination. Dr Tan shared these figures in written responses to parliamentary questions filed by labour MP Patrick Tay (Pioneer). All workplace discrimination complaints were investigated by the Tripartite Alliance for Fair and Progressive Employment Practices (Tafep), Dr Tan added. He reiterated what Senior Minister of State for Manpower Koh Poh Koon had told the House on Tuesday - that about two-thirds of reported cases are not substantiated, and the majority are misunderstandings that are subsequently clarified and not pursued further by either party. Out of 121 complaints referred to the Ministry of Manpower (MOM) for investigation, an averag...

MCCY officers issued warnings, PA staff suspended for document irregularities uncovered by AGO

aseanpr 13 9 月

5 minutes

SINGAPORE - Two Ministry of Culture, Community and Youth (MCCY) officers were issued official warnings and their performance assessments affected after they admitted to fabricating claims records. In separate cases, People's Association (PA) staff who may have falsified quotations and doctored documents were suspended from duties. Irregularities in contractors' records provided to the Ministry of Home Affairs led to one contractor being charged in court, and the other given a 12-month conditional warning. Two officers are also undergoing internal investigations for the lack of due diligence, said Second Minister for Finance Indranee Rajah on Monday (Sept 13). She added that investigations are ongoing at two other agencies - the Ministry of Education (MOE) and Housing Board (HDB). Ms Indranee was responding to questions by Workers' Party chief Pritam Singh and Mr Yip Hon Weng (Yio Chu Kang) on recurring lapses uncovered by the Auditor-General's Office (AGO). The five agencies were flagged by AGO for irregularities and possible falsification of documents, in its July report on government accounts for the 2020/2021 financial year, The AGO had noted that some supporting documents for c...

Changi Airport T1 and T3 reopen to public 3 months after Covid-19 cluster found

aseanpr 1 9 月

3 minutes

SINGAPORE - Staff of several stores and eateries returned to Changi Airport's Terminal 1 and Terminal 3 for the first time in more than three months on Wednesday (Sept 1). Traffic at the two terminals was light on Wednesday morning as they reopened to the public, but retail staff working there were hopeful of crowds returning on the weekend. Ms Izzul Faqihah, who works at the Ichikokudo Ramen, said she was excited to take on her new role as store manager. "I am excited to be back… it's quieter than usual today, but I think customers will know that there are no more cases and they will feel safe coming here," she said. "I went to Jewel Changi Airport last week and it was quite crowded, so hopefully some of them will come here." She expects crowds to also return with the start of the September school holidays next week. She said the store had received reservations for the weekend. When The Straits Times visited Terminal 3's basement two on Wednesday morning, a few stores were still closed and most of the people around were airport workers. A clothing shop employee, who wanted to be known only as Ms Yang, said the airport was quieter than usual on a weekday morning, but she hoped it w...

Toyota Releases Sales, Production, and Export Results for July 2021

ruth 30 8 月

1 minute

Toyota City, Japan, Aug 30, 2021 - (JCN Newswire via SEAPRWire.com) - Toyota Motor Corporation (TMC) announces its sales, production, and export results for July 2021 as well as the cumulative total from January to July, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd.Global Sales- North America (260,000 units, up 30.5 percent year on year)In the U.S., sales were driven by solid sales of light trucks including the RAV4, sedans including the Camry and Corolla, and HEVs including the Venza, and in addition, sales dropped in the same month of the previous year due to effects of COVID-19. As a result, sales in North America were up substantially year-on-year.- China (170,000 units, up 2.8 percent year on year)Sales of the Camry, Levin, RAV4, Wildlander, and Lexus brand vehicles were strong, and were up year-on-year.- Japan (140,000 units, up 9.4 percent year on year)Although the semiconductor supply shortage affected production, its impact was limited, and sales of the Yaris and Roomy were strong. As a result, sales were up year-on-year.For more information, visit bit.ly/3BCqq1d.l. Copyright 2021 JCN Newswire. All rights reserved. (via SEAPRWire)

$168m lost to top 10 scam types in first half of 2021; overall crime up by 11.2%

aseanpr 30 8 月

5 minutes

SINGAPORE - Scam victims lost $168 million to conmen in the top 10 scam categories in the first six months of this year, a sharp spike from $63.5 million in the same period last year. This comes on the back of a 16 per cent rise in the number of reported scam cases and a 11.2 per cent hike in overall crime, according to mid-year statistics released by the police on Monday (Aug 30). A total of 19,444 cases were reported between January and June this year, up from 17,492 in the same period last year. Scam cases climbed from 7,247 to 8,403. "Scammers are constantly evolving their tactics and have been taking advantage of the Covid-19 situation to prey on victims' heightened vulnerability and sense of uncertainty," said the police. In particular, loan scams had the highest number of reported cases among scam types, with $10.6 million cheated, compared with $5.6 million last year. The victims were mostly duped into providing personal information to supposed licensed moneylenders or banks. The scammers would ask them to pay a small percentage of the loan amount as administrative fees and become uncontactable after payment is made. E-commerce scams had the second highest number of reporte...

9 months’ jail, fine for father who bit, choked, tied young son and said he hated him

aseanpr 11 8 月

3 minutes

SINGAPORE - A delivery driver who bit his son and later choked him and tied him up with a bicycle cord was jailed and fined on Tuesday (Aug 10). The 36-year-old, who cannot be named due to a gag order, was jailed for nine months and fined $4,500. He pleaded guilty to two charges of ill treatment of a child and one charge each of voluntarily causing hurt and harassment. Another five charges, including one for a road rage incident, were taken into consideration for sentencing. In November 2018, the man's wife brought their two sons, aged five and one, to the polyclinic. The older boy bit his younger brother on the right thigh while they were playing. When the man found out about it that evening, he caned and bit his older son on the thigh, wanting him to feel how painful it was to be bitten. The police were called when the boy was brought for a planned visit to the hospital the next month, and a nurse saw the man handling his son roughly by grabbing him, forcing him to lie down and holding down his legs. The doctor also found injuries on the boy. In March 2019, the man was driving his van to collect parcels when the same boy vomited in the van. The man became angry, and later grabbed...

47 people, 7 firms in maritime sector punished for breaching Covid-19 rules

aseanpr 11 8 月

2 minutes

SINGAPORE - Seven companies and 47 individuals in the maritime sector got into deep water after breaching safe management measures. They were fined or had their licences suspended. Pleasure craft, harbour craft and ocean-going vessels were involved, said the Maritime and Port Authority of Singapore (MPA) on Wednesday (Aug 11). Fifty-two offenders were fined between $300 and $3,000 each while another two had the licences of their pleasure craft and harbour craft suspended. They were found to have violated the regulations from November last year to June this year. The MPA said that in some cases involving pleasure craft, the number of people aboard exceeded the maximum group size that was allowed for social gatherings. Separately, a shore-based personnel broke the rules by consuming the ship's provisions on board and not wearing the appropriate level of personal protective equipment. In another case, a long-term permit holder residing on board a harbour craft came ashore without MPA's approval. "There were also cases where agents failed to submit mandatory notifications to MPA on the boarding of a shore-based personnel," it said. MPA added that it is investigating several other incid...

Resale condos are back in vogue in Singapore

elean 18 7 月

1 minute

The private resale market is making a solid comeback after a hiatus of two years. About 8,880 condominium units were sold last year, over 16 per cent higher than the 7,550 or so units sold in 2019. Moreover, in the first six months of this year, around 7,520 transactions were recorded, surpassing the full-year sales from 2013 to 2016. 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.

3 men charged with cheating NUS

aseanpr 16 7 月

2 minutes

SINGAPORE - Three men are facing multiple charges over an alleged conspiracy to cheat the National University of Singapore (NUS). Liaw Jinle, 33, then a laboratory executive at the university, is said to have made a deal to split the profits from contract jobs with companies that Gan Yee Aun, 34, and Sandy Tan Wei Jie, 33, ran. All three were present before a district court on Friday (July 16) when they were charged with cheating and corruption. Liaw faces 11 charges, Gan seven, and Tan four. At the time of the alleged ruse, Liaw was the lab executive with the Centre for Advanced 2D Materials, while Gan was the director of HOH Multitrade and Laco Management, and sole proprietor of Ian OTM Services and GW Ways Enterprise. Tan was the sole proprietor of WJK Tan Trading and Infinity Dynamic Consultancy and Services. Between November 2017 and February last year, Gan's companies were allegedly awarded 72 jobs for the supply of laboratory goods and services to the centre totalling about $196,500, some of which were not supplied fully or not supplied at all. Similarly, Liaw allegedly assisted Tan's companies in obtaining 40 jobs for the supply of laboratory goods and services that totalle...

8 F&B outlets closed, 13 other outlets in S’pore fined for Covid-19 safe management breaches

aseanpr 9 7 月

4 minutes

SINGAPORE - Eight food and beverage (F&B) outlets were ordered to close, while 13 other outlets and 56 people were fined for breaching Covid-19 safe management measures, said the Ministry of Sustainability and the Environment (MSE) on Friday (July 9). These penalties were issued following stepped-up enforcement checks over the past week, it added. Agencies will also continue with these stringent enforcement checks over the coming weeks as restrictions are further eased. These outlets are forced to close just as Singapore opens up and F&B establishments can allow groups of five to dine in from next Monday (July 12). The eight premises were ordered to close for breaches such as multiple failures to ensure patrons across tables were seated at least 1m apart, permitting intermingling between groups, and allowing groups of more than two individuals who were not from the same household to be seated across multiple tables, MSE said. The premises are Nando's at Plaza Singapura, Carl's Jr at Jurong Point shopping mall, Food Junction at Bugis Junction, Club Diamond at Oriental Plaza, 3 Kings Pub at Lucky Plaza, Grand Shanghai at King's Centre, Sakunthala's Restaurant at Dunlop Street and The...

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