year

ST Singaporean of the Year 2020: 81-year-old helps neighbour to put out fire in flat

aseanpr 25 12 月

2 minutes

SINGAPORE - Retiree Lim Ee Chin had just watched the National Day parade on television when she spotted that her neighbour's flat was on fire at about 11.20pm and instinctively knew she had to do something to help. Madam Lim, 81, braved billowing smoke to fill buckets of water in her bathroom and drag them across the living room floor to her front gate so her neighbour could douse the flames raging in the Block 917 Jurong West Street 91 flat. Her willingness to help a neighbour in serious trouble came despite having a curved spine and heart trouble and the pleas from her sister whom she lives with to leave for her safety. "Of course I had to help. When I saw their house burning, it hurt my heart," said Madam Lim, who used to work at a tin factory. "They didn't set the fire on purpose. What if they have no house to live in?" She added that she could not recall how many pails of water she fetched that night on Aug 9, but "it felt like an hour that would never end". With the help of other neighbours, most of the fire was put out before the Singapore Civil Defence Force (SCDF) arrived. After they left, Madam Lim spent the next few hours mopping up her flat. Her selfless efforts made he...

Asia’s capital markets may see vaccine trade next year

elean 24 12 月

3 minutes

HONG KONG • A coronavirus vaccine trade could emerge in Asia's capital markets next year, with dealmakers confident that the record-breaking pace of raisings in the past year should be maintained in the new year. Equity capital markets (ECM) deals in the Asia-Pacific region, including Japan, totalled US$439.1 billion (S$586 billion) this year, the highest ever, accounting for 41 per cent of the world's total of US$1.06 trillion, according to Refinitiv data. The contribution by the Asian region to the global total value of capital raisings was the most since 2010, and advisers attributed this to some countries - led by China - emerging from the pandemic faster than the rest of the world. In Asia, healthcare deals recorded the strongest growth in the past year, up 148.6 per cent in terms of money raised, and bank executives believe the global roll-out of the coronavirus vaccine will see the sector dominate the local capital markets again next year. "There is a window of opportunity for Covid-related trades to raise money in 2021," said Ms Selina Cheung, head of greater China ECM at UBS. "We expect to see more health-related and vaccine companies coming to the market in the first half...

Bottlenecks take toll on container shipping trade

elean 24 12 月

0 min

LONDON • Container shipping, the backbone of the global trading system, is showing signs of fatigue as the pandemic descends into its darkest days. Carriers reaping the biggest profits in at least a decade are struggling to operate reliably as bottlenecks worsen around ports from southern England to Shanghai, contorting supply chains for everything from car parts to cosmetics to medical equipment. Just 50.1 per cent of container vessels arrived on time last month, down from 80 per cent a year earlier, and the lowest level in records dating back to 2011, according to a service reliability index compiled by Copenhagen-based Sea-Intelligence, an analysis and data provider. Delays can add costs, induce operational headaches and restrain revenue for the shippers of cargo - companies like Costco Wholesale. The Issaquah, Washington-based chain of 803 warehouse-size stores on four continents expects the situation involving container shortages and late deliveries to persist for a few more months. "There are instances of 50 per cent or 100 per cent or even more sale increases of an item, and if we could procure more, we'd have even higher sales," Mr Richard Galanti, Costco's chief financial ...

Tech giant Sea makes big strides as it takes on digital banking

elean 23 12 月

1 minute

SINGAPORE - Singapore-based technology giant Sea, which owns e-commerce platform Shopee, has rapidly grown to become South-east Asia's most valuable company and one of the region's largest tech players over the past year. Group chief executive and founder Forrest Li was named Businessman of the Year at the Singapore Business Awards last month - testament to the plucky firm's transformation since its scrappy start in 2009. 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.

E-shopping addiction lays waste to green packaging drive in China

elean 22 12 月

5 minutes

SHANGHAI • If you worry about all the waste generated by the annual rush of holiday shopping and gift giving, it is nothing compared with the mountains of discarded packaging that comes from a single event in China. On Nov 11 each year, the world's biggest consumer market goes into overdrive as e-commerce giants like Alibaba Group Holding and JD.com lure shoppers with huge bargains during the Singles' Day sale. Alibaba reported almost 500 billion yuan (S$102 billion) in sales this year, nearly four times the United States' Black Friday and Cyber Monday spending combined. On its Tmall platform, transactions reached a peak when 583,000 orders were made in a single second. All those purchases meant 675 million packages had to be delivered, a 26 per cent increase from last year. Online shopping in China generated 9.4 million tonnes of packaging in 2018, according to Greenpeace, which projects that the amount could rise to 41 million tonnes by 2025, about the same as all the waste produced by Japan in a year. Greenpeace estimates that Singles' Day generated 52,400 tonnes of carbon dioxide from manufacturing, packaging and shipping in 2017. The national railway has to employ hundreds of ...

Higher standards for pet services in the first half of next year: Animal and Veterinary Service

aseanpr 18 12 月

4 minutes

SINGAPORE - Higher standards of service providers in the pet sector can be expected in the first half of next year, and dog rehoming and adoption processes will also be improved, said the Animal and Veterinary Service (AVS) on Friday (Dec 18). In addition, the AVS has stepped up efforts to educate the public on how to take care of pets, said Minister of State for National Development Tan Kiat How at the launch of new educational activities and resources on animals. Mr Tan said the AVS is reviewing licensing conditions for pet boarders and breeders, as well as looking into raising the professionalism of veterinarians, among other things. It has been consulting closely with key stakeholders, such as animal welfare groups, pet businesses and veterinarians, and will announce more details when ready. In October, a multi-stakeholder Rehoming and Adoption Work Group (RAWG) was formed to improve dog rehoming and adoption processes, said Mr Tan. The work group has been working on guiding principles for dog rehabilitation and training, as well as measures to enhance the competency and standards of dog trainers. The public can provide feedback on the new community standards and guidelines on ...

Mandatory Covid-19 vaccines for travel would ‘kill the sector’, says tourism lobby head

elean 18 12 月

4 minutes

NEW YORK (BLOOMBERG) - The rollout of vaccines against Covid-19 has intensified debate about whether they should be made mandatory, with the head of a major tourism lobby saying that doing so would cause irreparable harm to the struggling sector. "I don't think governments will require vaccination next year" for travel, Gloria Guevara, head of the World Travel and Tourism Council, said at a press conference on Thursday (Dec 17). "If they do that they will kill their sector." Those first in line to get the jabs include the elderly and vulnerable, who "are the last people who will travel," she said. Instead, rules for virus testing before departure are likely to be bolstered. Alan Joyce, the chief executive officer of Qantas Airways, ignited an industrywide debate last month when he said proof of vaccination would be a condition for travelers entering or leaving Australia on the carrier's planes. So far, no country has made inoculation compulsory or said it would be required for people crossing borders. Airlines are among the hardest hit by the health crisis, with global airline lobby IATA forecasting combined losses of $157 billion this year and next. When the broader tourism sector...

G.H.Y Culture & Media’s IPO shares priced at 66 cents

elean 12 12 月

2 minutes

Entertainment company G.H.Y Culture & Media Holding lodged its final prospectus yesterday ahead of a mainboard listing. It is offering 21.7 million shares at 66 cents each in its initial public offering (IPO), comprising 18.7 million placement shares and three million under the public offer. Its market capitalisation will be about $708.7 million after the IPO. The public offer opened yesterday and closes at noon next Wednesday, with trading expected to start next Friday. Cornerstone investors have also struck agreements with the firm for around 162.7 million cornerstone shares, of which 141.2 million will be newly issued and 21.5 million will be vendor shares owned by investment holding firm Taiho Holding and group adviser John Ho. The cornerstone investors include Osim International founder Ron Sim, brand developer V3 Brands and investment firm Yinson Capital. The IPO and issuance of new cornerstone shares will generate about $115.1 million in net proceeds, of which $101 million will be due to the company. Proceeds will be used to invest in production, acquisitions and alliances to expand its TV and film productions and concert segments. G.H.Y's core business is producing and prom...

ADB forecasts shallower slump for Asia this year

elean 11 12 月

2 minutes

MANILA • Developing Asia's economy will contract this year by less than previously estimated as it begins recovering from the coronavirus pandemic, according to the Asian Development Bank (ADB). The region's gross domestic product (GDP) will shrink 0.4 per cent this year, an improvement from the 0.7 per cent drop forecast in September, ADB said in a supplement to its Asian Development Outlook, released yesterday. It kept the region's growth projection at 6.8 per cent for next year. Prospects are diverging within the region, with East Asia set to grow this year while other sub-regions are contracting, the Manila-based bank said. China's economic forecast for this year was raised to 2.1 per cent growth from 1.8 per cent estimated in September, while India's projection was lifted to an 8 per cent contraction from minus 9 per cent previously expected. Next year, China's GDP is forecast to grow by 7.7 per cent and India's by 8 per cent. South-east Asia's economic forecast was lowered to a 4.4 per cent contraction this year amid reduced projections for Indonesia, Malaysia and the Philippines. The sub-region remains under pressure as virus outbreaks and containment measures continue, ADB ...

US economy to slow in first quarter of 2021 but reach pre-Covid levels in a year: Poll

elean 10 12 月

4 minutes

BENGALURU (REUTERS) - US economic growth will lose momentum this quarter and next but expand faster than previously thought after that, according to a Reuters poll of economists, a firm majority of whom now expect the economy to reach pre-Covid-19 levels within a year. While the near-term economic outlook has dimmed again as the US remains the country worst-hit by the pandemic and on uncertainty about a fresh fiscal package, Wall Street stocks have reached record highs on positive vaccine news. The growth outlook for the current and next quarters was lowered in the Nov 30-Dec 8 poll. A few respondents predicted a double-dip, expecting the economy to contract again next quarter. "We expect the rising threat of Covid-19 to dampen growth through the first months of 2021, followed by further fiscal support from the prospective new administration in reaction to the rise in hospitalizations," noted Ellen Zentner, chief US economist at Morgan Stanley. "Downside risks are dominated by Covid-19, and particularly if broader-than-expected shutdowns over the winter and a delayed vaccine come in the absence of further fiscal stimulus. In this scenario, a more drawn-out recovery would lead to lo...

US food delivery giant DoorDash raises $4.5 billion in above-range IPO

elean 9 12 月

2 minutes

NEW YORK (BLOOMBERG) - DoorDash raised US$3.37 billion (S$4.5 billion) in an initial public offering (IPO) above its marketed range, according to people familiar with the matter. The San Francisco-based company sold 33 million shares on Tuesday (Dec 8) for US$102 each after marketing them for US$90 to US$95 each, said the people, who asked not to be identified because the information wasn't public yet. At that price, DoorDash has a fully diluted value of about US$38 billion, which includes employee stock options and restricted stock units. DoorDash's IPO is one of the largest US tech listings this year. The company is part of a cadre of consumer-facing, web-based businesses that are expected to go public in December - including home-rental platform Airbnb, which is set to price its IPO on Wednesday. Others include video-game company Roblox Corp, installment loans provider Affirm Holdings and ContextLogic, the parent of online discount retailer Wish. Food delivery start-up DoorDash has seized on the pandemic-fueled boom in demand for meals brought to your door, as well as investor exuberance over new stock listings as it moves ahead with its IPO. Revenue in the first nine months of ...

Mazda MX-30 Wins Design Car of the Year in 2020-2021 Car of the Year Japan Awards

ruth 8 12 月

2 minutes

HIROSHIMA, Japan, Dec 7, 2020 - (JCN Newswire) - Mazda MX-30 has been named Design Car of the Year, a newly established award in this year's Car of the Year Japan awards.The MX-30 's design was based on a concept we call "Human Modern" and challenged the development of a new method of expression for Kodo - Soul of Motion design. The exterior is uncompromisingly simple to emphasize the vehicle's beauty as a solid mass. The MX-30's styling creates a friendly appearance, while the cabin design and freestyle doors* express lightness. The interior aims to give occupants a sense of "bathing in openness," with its floating console and unique materials designed to minimize environmental impact. As the Mazda MX-30 has been introduced in the year of Mazda's 100th anniversary, a material that has great significance to the company's heritage -- cork -- is used in the vehicle's interior to express tenderness and comfort.Ikuo Maeda, Managing Executive Officer in charge of Design and Brand Style said, "It's truly an honor to have the MX-30 receive this award as a token of high esteem for its design. I am truly grateful for all of those who have shown their support toward this model. In 2010, we s...

Super Height Kei Wagons eK X space and eK space Win “K Car of the Year” at the 2020-2021 Car of the Year Japan

ruth 8 12 月

3 minutes

TOKYO, Dec 7, 2020 - (JCN Newswire) - MITSUBISHI MOTORS CORPORATION (MMC) today announced that the super height kei wagons eK X space (pronounced eK "cross" space) and eK space won the K Car of the Year(1), a new category of the 2020-2021 Car of the Year Japan(2) awarded to overall excellent kei car.The eK X space and eK space were recognized for the highly stable, easy-to-drive road performance, while also offering the practicality of a super height wagon. The quality of the interior and seat comfort were highly evaluated, and the MI-PILOT advanced driver assistance system with the same performance level as larger, non-kei vehicles was also well received by the judges.Last year, MITSUBISHI MOTORS won the Car of the Year in the Small Mobility category(3) with the eK X and eK Wagon. This marks the second consecutive year that the eK series has won the award in the kei/small category.The eK X space with SUV flavor and the stylish, approachable eK space offer spacious, comfortable and user-friendly cabin space with class-topping slide space at the rear seats(4) and hands-free automatic sliding doors that can be opened and shut with an easy kicking motion.They also come equipped with M...

Arrest warrant out for man who allegedly exposed himself in NUS library

aseanpr 8 12 月

2 minutes

SINGAPORE - A warrant of arrest is out for a man accused of exposing his private parts and sexually stimulating himself in front of a woman at the science library of the National University of Singapore (NUS) on April 10 last year. Xiong Jiawei, now 28, was an NUS student when he allegedly committed the offence. The Singaporean was charged last year with insulting a woman's modesty. He could have been jailed for up to a year and fined if convicted of this offence. The charge has since been reduced to that of committing an obscene act in public, for which he can be jailed for up to three months and fined if convicted. The arrest warrant was issued on Oct 26 this year. It was not stated on the State Courts portal why the warrant was issued then. A review of the matter took place in chambers at the State Courts on Monday (Dec 7). Another review has been scheduled for June 7 next year as Xiong is on the run. In an earlier statement, the university said disciplinary sanctions, including suspension of candidature for two semesters and mandatory assessment by a psychiatrist, as well as mandatory counselling, had been imposed on Xiong. An NUS spokesman said: "The university takes a serious...

Uber abandons pursuit of self-driving cars, sells unit to Aurora

elean 8 12 月

4 minutes

NEW YORK (BLOOMBERG) - Uber Technologies sold its self-driving car division to Aurora Innovation and took a stake in the start-up, pulling back from its vision for a fleet of autonomous taxis to focus on turning a quarterly profit next year after the pandemic crushed revenue. The deal will value Aurora at US$10 billion (S$13.4 billion), according to people familiar with the talks. In exchange for investing US$400 million in Aurora, Uber will get a 26 per cent ownership stake in the company. That number increases to 40 per cent when counting the stakes held by the employees and investors of Uber's autonomous driving division. Uber chief executive officer Dara Khosrowshahi and one other yet-to-be-named person representing Uber will join Aurora's board. The price tag is a comedown for Uber, whose self-driving division, Advanced Technologies Group (ATG), raised money last year at a US$7.25 billion valuation. The agreement with Aurora values the unit at just US$4 billion, following Uber's investment. The deal, expected to close during the first quarter, also guarantees that when Aurora releases its self-driving vehicles, they'll launch on Uber's network. Shares of Uber fell were mostly ...

Asia shares at all-time highs on US stimulus, vaccine hopes

elean 7 12 月

4 minutes

SYDNEY (REUTERS) - A gauge of Asian shares hit a record peak on Monday (Dec 7) on hopes of a much-needed US stimulus package before year-end just as coronavirus vaccines roll out, while oil prices hovered near their highest since March. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent to 643.1 points, on track for its fifth straight session of gains. It is up 16.3 per cent so far this year, the best since a 33 per cent jump in 2017. Japan's Nikkei added 0.1 per cent while Australian shares climbed 0.8 per cent. Britain is preparing to become the first country to roll out the Pfizer/BioNTech COVID-19 vaccine this week. US authorities will also this week discuss the programme before the expected first round of vaccinations this month. Hopes the vaccines will help curb the pandemic which has so far killed more than 1.5 million people globally sent shares soaring in recent weeks. On Wall Street, stock indexes reached fresh all-time highs on Friday with the Dow rising 0.8 per cent, the S&P 500 gaining 0.9 per cent and the Nasdaq adding 0.7 per cent. "The vaccine will break the link between mobility and infection rate, allowing for the strongest global GDP gro...

Bullish in the Year of the Ox

elean 7 12 月

1 minute

SINGAPORE - It's been a tough year for many around the world. But financial markets, despite their wild swings, have proven far more resilient. 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.

Local start-ups pursue innovation opportunities here and abroad

elean 7 12 月

1 minute

Start-ups have been actively participating in innovation calls and pursuing opportunities both locally and abroad this year. There have been 84 joint applications between Singapore firms and overseas partners for the Eureka GlobalStars-Singapore innovation call this year, more than double the number last year. 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.

Income levels for Singapore residents fell in 2020 due to Covid-19: MOM

aseanpr 3 12 月

5 minutes

SINGAPORE - Income levels fell this year for Singapore residents because of the Covid-19 pandemic, while the employment level dropped to a six-year low in June before rebounding after the circuit breaker period. The nominal median income for residents - that is, Singaporeans and permanent residents - dipped by 0.6 per cent to $4,534 over the year to June, down from $4,563 last year, according to advance annual estimates released by the Ministry of Manpower (MOM) on Thursday (Dec 3). After taking inflation into account, real median income fell by 0.3 per cent, a reversal from the 2.2 per cent growth in the previous year. The income data is for people in full-time employment and excludes employer contributions to the Central Provident Fund. Real income at the 20th percentile dropped by 4.5 per cent not including government payouts, which the ministry said is due to industries more adversely affected by the pandemic having a high concentration of lower-income earners. The incomes of lower-income self-employed workers such as taxi or private-hire car drivers and hawkers were also impacted by the plunge in tourist arrivals, work-from-home arrangements, and temporary suspension of dine-i...

Primary school teacher allegedly committed indecent acts on 14-year-old girl

aseanpr 1 12 月

2 minutes

SINGAPORE - A male primary school teacher is accused of committing indecent acts on a 14-year-old girl last year. Micky Ng Chee Siong, 38, whose case was last heard in a district court on Nov 12, now faces three charges under the Children and Young Persons Act. There is no gag order on the Singaporean's identity even though there is one on the girl. Court documents do not state how they got to know each other. In a statement to The Straits Times on Monday (Nov 30), the Ministry of Education (MOE) said that Ng has been suspended from duty since August last year when the police investigation started. Its spokesman added: "MOE takes a serious view of staff misconduct and will not hesitate to take disciplinary action against those who fail to adhere to our standards of conduct and discipline, including dismissal from service." According to court documents, Ng allegedly kissed the girl's lips in a car in Upper Thomson Road in early April last year. He is also accused of touching and kissing her upper body sometime between April and June last year. Ng is said to have committed similar acts on the teenager on June 3 last year. It was not stated how his alleged offences came to light. Ng's...

Copyright © 2020 ASEANPR.Com All rights reserved.