Youth molested niece as he was addicted to hentai – a manga genre that has sexually explicit images
SINGAPORE - A youth who molested his young niece three times last year told police investigators that he committed the offences as he was addicted to hentai - a genre of Japanese manga and anime characterised by sexually explicit images. The Malaysian offender, who turned 20 in August this year, targeted the girl who was between six and seven years old at the time. The court heard that her mother is his older sister. The youth, who pleaded guilty to three counts of molestation on Friday (Dec 17), cannot be named due to a gag order to protect the victim's identity. Deputy Public Prosecutor Grace Teo said the offender moved to Singapore in March last year to live with his older sister and the victim. He later molested the child on two occasions while she was sitting on his lap. The youth, the victim and her mother were at a friend's home on June 27 last year when the mother saw her daughter sitting on the offender's lap, watching an anime show on his tablet. The woman thought that they looked as though they were "hiding something" from her and confronted her brother who admitted to molesting the girl. The mother alerted the police two days later and he told them that he molested his ...
Singapore non-oil exports surge 24.2% in November, beating forecasts
SINGAPORE - Singapore's key exports rose for the 12th straight month in November, buoyed by specialised machinery, petrochemicals and petrochemicals, as well as electronic products. Non-oil domestic exports (Nodx) surged 24.2 per cent year on year, extending the revised 17.8 per cent increase in October and outpacing private sector economists' median estimate of 15.3 per cent growth in a Bloomberg poll. Electronics shipments expanded 29.2 per cent in November, against 14.9 per cent in October, according to data released by government agency Enterprise Singapore (ESG) on Friday (Dec 17). This was due to growth in segments such as personal computers, integrated circuits and disk media products. Meanwhile, non-electronics exportsrose 22.7 per cent year on year, following the 18.8 per cent increase in October. This was largely due to specialised machinery, petrochemicals and primary chemicals. On a seasonally adjusted month on month basis, Nodx edged up 1.1 per cent in November, extending the 4.1 per cent growth in October, to hit $16.5 billion. Last month, ESG upgraded its forecast for Nodx growth to between 9.5 per cent and 10 per cent year on year in 2021, from the previous 7 per ce...
HDB to launch up to 23,000 BTO flats a year over next two years
SINGAPORE - Up to 23,000 Build-To-Order (BTO) flats will be launched each year in 2022 and 2023 to meet the strong demand for public housing, said the Housing Board on Thursday (Dec 16). This represents a 35 per cent increase every year in the number of flats available, from the 17,000 flats launched this year, said HDB. Next year, home buyers can tap BTO flats across mature and non-mature towns such as Bukit Merah, Jurong West, Kallang Whampoa, Queenstown, Tengah, Toa Payoh and Yishun. National Development Minister Desmond Lee said at a press conference that HDB will be prepared to launch up to 100,000 flats from 2021 to 2025, and will calibrate supply based on prevailing demand. Mr Lee noted that BTO application rates have increased from 3.7 applications per BTO flat in 2019 to 5.5 in 2021, despite more flats being offered by the HDB. HDB launched around 14,600 units in 2019 and around 17,000 units a year in 2020 and 2021. The strong demand was driven by newly married couples and a growing trend of people choosing to live in smaller households, added Mr Lee. HDB said that a buoyant resale market amid the Covid-19 pandemic also channelled more demand to the BTO market. HDB added: ...
All-New Outlander PHEV Model Wins Technology Car of the Year in 2021-2022 Car of the Year Japan Awards
TOKYO, Dec 13, 2021 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Motors Corporation today announced that the plug-in hybrid electric vehicle (PHEV) model of the all-new Outlander crossover SUV won the Technology Car of the Year in the 2021-2022 Car of the Year Japan(1) awarded to car with innovative technologies for eco-friendliness and safety.All-new Outlander PHEV modelPHEV system of the Outlander PHEV model(2) In selecting the all-new Outlander PHEV model, the awards jury highly evaluated the revamped PHEV system that increased the output of the front and rear motors, and the extended total driving range made possible by increasing the battery and fuel tank capacity. The Outlander PHEV model was also recognized for the evolved Super-All Wheel Control (S-AWC) integrated vehicle dynamics control system based on twin-motor 4WD that allows nimble handling not expected of an SUV. The all-new Outlander PHEV model is Mitsubishi Motors' flagship model which brings together the company's expertise in electrification and all-wheel control technologies, while also incorporating a newly-developed platform and an array of advanced technologies. Based on the product concept of "I-Fu-Do-Do"...
Never mind how Omicron blows, no shortage of economic forecasts
(NYTIMES) - The Omicron variant of the coronavirus could be dangerous enough to disrupt the lives of virtually everyone on the planet. Or it could represent a blip in a long-running pandemic - a worry, to be sure - but a relatively minor one. At this point, no one really knows. And given that uncertainty, the stock and bond markets are swinging haphazardly, like a weather vane before a storm, as the news about the new variant blows one way or another. That is not stopping economists and market strategists from issuing precise forecasts for the year ahead. Wherever the pandemic may be heading, it is crystal ball-gazing season again on Wall Street. It is the time of year when forecasters fire up their algorithms and release streams of projections that will tell you precisely where the S&P 500 will close in 2022, where the 10-year US government bond yield will end up and how high the inflation rate will be. There are myriad forecasts with specific numbers - and if any of them turn out to be correct, it will be an accident. Year after year, market predictions run headlong into a basic problem: It is simply impossible to forecast the economy or the markets with accuracy and consistency,...
Tencent leads $95m round in Singapore-based digibank firm
SINGAPORE (BLOOMBERG) - Tyme, a Singapore-based digital-banking firm, raised US$70 million (S$95.3 million) in a funding round led by billionaire Pony Ma's Tencent Holdings to boost investment in South Africa and the Philippines. CDC Group, the London-based government-owned development fund, also invested, chairman and co-founder Coen Jonker said in a recent interview. Most of the funds will go to its digital bank in South Africa and the remainder on its news operations in the Southeast Asian nation that will start next year, he said. Tyme is among firms expanding into financial services in Asia and challenging existing brick-and-mortar banks such as HSBC Holdings and DBS Group Holdings. Part of its strategy is to partner with local tycoons that have underlying businesses to help grow its customer base. Tyme has raised a total of US$180 million this year. South African billionaire Patrice Motsepe's African Rainbow Capital Investments is the company's largest shareholder and Philippines conglomerate JG Summit Holdings of the Gokongwei family is another shareholder. Tyme was recently awarded a digital bank licence in the Philippines in its first expansion outside of Africa. The compa...
Ev Dynamics Announces Robust Sales Performance and Business Growth Progress
HONG KONG, Dec 1, 2021 - (ACN Newswire via SEAPRWire.com) - Ev Dynamics (Holdings) Limited (the "Company", Stock Code: 476, together with its subsidiaries, collectively "Ev Dynamics" or the "Group"), a provider of new energy vehicles and technology integrated solutions, is delighted to announce the robust sales performance and business growth progress attained this year and proven by its interim results for the six months ended 30 September 2021 (the "Reporting Period"), attributed to the international efforts made by the Company. Ev Dynamics is beginning to fulfill its 12-meter E-Bus orders in Europe as delivery is set in motionDuring the Reporting Period, the Company recorded revenue of approximately HK$29.7 million (30 September 2020: HK$21.5 million) derived from the sale of electric vehicles and an increase in sales orders. This year, Ev Dynamics has continued to enhance its research and development capabilities as well as its efforts on international sales, and as such the Company has been able to maintain an upward trend on the sales turnover successfully.In recent months, the Company began to work with its strategic partner, Quantron AG ("Quantron"), a German-based company ...
Omicron adds economic risks, inflation uncertainty: US Fed chief
WASHINGTON (BLOOMBERG) - Federal Reserve chair Jerome Powell, in his first public remarks on the Omicron variant of the coronavirus, said it poses risks to both sides of the United States central bank's mandate to achieve stable prices and maximum employment. "The recent rise in Covid-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation," Mr Powell said in prepared testimony released on Monday (Nov 29), a day ahead of his appearance before the Senate Banking Committee. "Greater concerns about the virus could reduce people's willingness to work in person, which would slow progress in the labour market and intensify supply-chain disruptions." Mr Powell, in the relatively brief text, did not discuss specific monetary policy actions or the possibility of changing the pace of the tapering of its asset purchases - a key issue that other officials have flagged in recent remarks. Mr Powell - who a week ago was selected by President Joe Biden for a second term as central bank chief - will appear before the panel on Tuesday at 10am, together with Treasury Secretary Janet Yellen, in the first of two d...
Mazda Production and Sales Results for October 2021
HIROSHIMA, Japan, Nov 29, 2021 - (JCN Newswire via SEAPRWire.com) - Mazda Motor Corporation's production and sales results for October 2021 are summarized below.I. Production1. Domestic ProductionMazda's domestic production volume in October 2021 decreased 58.7% year on year due to decreased production of passenger and commercial vehicles.[Domestic production of key models in October 2021]CX-5: 16,830 units (down 58.8% year on year)CX-30: 4,264 units (down 33.8%)MAZDA6: 3,481 units (down 17.1%)2. Overseas ProductionMazda's overseas production volume in October 2021 decreased 28.6% year on year due to decreased production of passenger and commercial vehicles.[Overseas production of key models in October 2021]MAZDA3: 12,957 units (up 41.9% year on year)CX-30: 9,323 units (down 33.0%)MAZDA2: 4,240 units (down 47.4%)II. Domestic SalesMazda's domestic sales volume in October 2021 decreased 28.3% year on year due to decreased sales of passenger and commercial vehicles.Mazda's registered vehicle market share was 4.5% (up 0.2 points year on year), with a 1.9% share of the micro-mini segment (down 0.2 points) and a 3.6% total market share (up 0.2 points).[Domestic sales of key models in Oct...
Man who impregnated girlfriend’s underage daughter gets 12 years’ jail, 6 strokes of the cane
SINGAPORE - A 29-year-old man who had sex with his girlfriend's underage daughter from when she was 14, and got her pregnant, was on Monday (Nov 29) sentenced to 12 years' jail and six strokes of the cane. This is believed to be the first case of underage sex involving an exploitative relationship after amendments to the penal code took effect last year that raised the penalties for such cases. The girl, who regarded the man as "daddy", gave birth to a daughter last year, at age 15. The man pleaded guilty to three counts of having sex with the minor in October. He cannot be named due to a court order protecting the identity of the girl, who is now 17. The court heard that prior to this incident, the girl had been sexually abused by another family member when she was between 10 and 12 years old. The man first met the victim's mother in 2015 and they moved in together in May 2016. The girl stayed with them later that year. He eventually gained the victim's trust by taking on the role of a father figure that she lacked because her biological father was in jail. The prosecutors said: "He would shower her with affection by spending relatively large sums of money to celebrate her birthda...
Jail for 4th man linked to plan to extort businessman filmed having sex with another man
SINGAPORE - Three men hatched a plan to extort $60,000 from a married businessman after he was secretly recorded having sex with another man. The amount was later reduced to $50,000 but police arrested the trio, including the businessman's personal assistant, before any money could change hands. They were then released on bail. Despite this, one of them, Tan Yong Jian was so intent on getting cash from the 53-year-old businessman that he separately roped in a fourth man, Mahadevan Edwyn, to try the extortion scheme again. Tan, then 24, also promised Mahadevan a 50-50 split of the amount. On Monday (Nov 29), Mahadevan, now 29, was sentenced to 18 months' jail after he pleaded guilty to one count of criminal intimidation. The Singaporean committed the offence while he was under a remission order, just months after he was released from prison in late 2019 over crimes not stated in court documents. As part of the order, he was supposed to keep out of trouble from Oct 9, 2019 to Aug 28 last year. For breaching it, he now has to spend an additional 59 days behind bars. The three men - Tan, as well as Daryn Ho Yong Jian and the businessman's former personal assistant, both 24 - were dealt...
Covid-19 drove ‘unprecedented’ drop of 196,400 in Singapore employment; services hardest-hit
SINGAPORE -The magnitude of employment losses in Singapore during the Covid-19 pandemic was unprecedented, more than in any other crisis, according to a report released by the Ministry of Trade and Industry (MTI) on Wednesday (Nov 24). And while the services sector may have escaped previous crises, this time it was the hardest-hit. By the third quarter of this year, the total number of people employed in Singapore (excluding foreign domestic workers) had dropped by a cumulative 196,400. Of this number, 113,500 were lost during the circuit breaker period in the second quarter of last year. The pandemic thus surpassed the peak-to-trough employment declines of other crises, such as the dot-com bust which saw employment drop by 79,500, the Asian Financial Crisis by 42,100 and the Global Financial Crisis by 13,800. MTI said in the report: "Unlike previous downturns, the Covid-19 pandemic simultaneously affected the Singapore economy through five transmission channels, especially in the earlier stages of the pandemic." These five channels included the plunge in international visitor arrivals and air travel which severely affected tourism and aviation-related sectors such as accommodation...
S’pore pay rises set to rebound to 2019 levels next year: Survey
SINGAPORE - Expecting the global Great Resignation phenomenon to play out in full next year, employers in Singapore are reverting salary increments and payroll budgets to near pre-pandemic levels in a bid to hold on to their employees, as well as fill vacancies next year. Publishing its Mercer's 2021 Total Remuneration Survey last Wednesday (Nov 17), Mercer Singapore said workers here can expect pay rises of 3.5 per cent next year, a hairline shy of 2019's 3.6 per cent. As for total payouts that cover expenses such as salary increments, promotion raises and market adjustments, human resources teams are planning to set aside 4.4 per cent more next year. That budget exceeds the 4.3 per cent increase in 2019, the year before the Covid-19 pandemic. The projections, garnered from 961 companies - of which 800 are multinationals - across 18 industries with operations in Singapore, mirror trends that have shown up in many remuneration surveys, some of which also highlight that a majority of workers in Singapore are entertaining imminent prospects of quitting their jobs. Employment Hero, a human resources platform, released earlier this month the results of a survey it did with 1,005 Singap...
Reformative training for youth who had sex with 2 underage girls and impregnated them
SINGAPORE - At just 21 years old, he is already the father of two children by different mothers, one of whom he had sex with when she was 15. The other mother was not a minor when she had sex with him and is now 18. The offender had also impregnated a third victim when she was a 12-year-old child but she aborted the foetus. All three were his girlfriends at different times but they are no longer with him, a district court heard. On Friday (Nov 19), the offender was sentenced to undergo reformative training for at least one year. This means that he will be detained in a centre and made to follow a strict regimen that includes foot drills and counselling. The Singaporean youth pleaded guilty on July 13 to four counts of having sex with a minor. He also admitted to one count of assaulting the 18-year-old girl. The offender turned 21 later that month. Seventeen other charges, mainly relating to sexual acts with the underage girls, were considered during sentencing. He committed the offences between 2017 and last year. The three victims cannot be named due to a gag order, while the youth cannot be identified as he was just 16 years old when he started committing the offences. He was in ...
New line of collectible 2022 Year of the Tiger almanac coins unveiled by MAS
SINGAPORE - You may have to flip a coin to decide which to buy, given the many choices. On Thursday (Nov 18), a line of 10 collectible 2022 Year of the Tiger almanac coins was unveiled by the Monetary Authority of Singapore (MAS). The coins - which will be issued on Jan 1 next year - feature a tiger against the backdrop of Haw Par Villa, a cultural park in Pasir Panjang best known for hundreds of statues that depict scenes from Chinese mythology and folklore. The flip side of each coin bears the Singapore Coat of Arms with the year 2022 marked on it, said MAS. The 10 coins feature different metallic compositions, shapes and minting relief effects. A nickel-plated zinc coin that is almost 41mm in diameter comes with a face value of $2, while the 60mm-diameter gold coins have a face value of $200, for example. The supply of each coin will vary between 100 and 50,000 pieces depending on the design and composition. They will be sold by Singapore Mint and pre-orders can be placed from Nov 18 to Dec 17 at its website. Special premium sets with various coin combinations will also be on sale and all coins will be allocated by balloting if they are oversubscribed, added MAS. The gold and si...
Can China pull itself out of the economic doldrums?
BEIJING (CAIXIN GLOBAL) - China's gross domestic product (GDP) growth is expected to slow even further in the fourth quarter, as outbreaks of Covid-19 across the country, power shortages, surging raw material prices and property jitters continue to weigh on activity, adding pressure on policymakers to do more to support the economy. Analysts say the government will need to ease fiscal and monetary policies to prop up demand while ensuring that the measures don't derail its efforts to curb carbon emissions and resolve long-standing problems, such as the overheated housing market and high corporate debt. As the world's second-largest economy ploughs through the final quarter of the year, here are five key things to watch for. Can the slowdown in GDP growth be reversed? The short answer is no, at least in the near term. Analysts expect economic expansion to continue to moderate in the fourth quarter from the 4.9 per cent year-on-year pace seen in the July-September period, which was the weakest in a year. Even so, China will still be able to achieve its full-year GDP growth target of above 6 per cent. This is because expansion in the first half was much stronger - 18.3 per cent year o...
Why economists got it so wrong on US inflation
NEW YORK (BLOOMBERG) - Economists are getting a dose of humility on forecasting inflation after a resurgent coronavirus, a tenuous global supply network and stimulus-fueled consumers combined to send US prices well beyond the expectations of Wall Street and policy makers. The government's latest inflation read on Wednesday (Nov 10) showed a 6.2 per cent annual jump in consumer prices that exceeded all projections. Previously confined to categories mostly associated with the economy's reopening, the October data indicated a broadening of inflationary pressures. Forecasting inflation "has been incredibly challenging" over the past year and will remain tough, said Matthew Luzzetti, chief US economist at Deutsche Bank. "It is difficult to feel comfortable with a view that you are building in enough price pressures at the moment, and risks remain skewed to the upside for the inflation outlook." Since the start of the year, economists have been forced to ratchet up their projections for consumer price growth. What was once expected to be a bit of mirage, with so-called base effects distorting the figure higher, has proved to be a much more persistent problem. Fed chair Jerome Powell and ...