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Local telco Singtel today (April 22) announced it has received approval from ASX to remove its listed securities.
According to the timetable for removal, the suspension date for trading of Singtel CHESS Depository Interests (CDIs) will kick in on May 29, while June 5 is the official delisting date, the press release said. The voluntary sale facility will open on June 9 and close on July 6, while the compulsory sale process will begin on July 7 and close six days later on July 13, it added. "Singtel will notify the market and CDI holders by announcement to the SGX and the ASX if there are any changes to the timetable," the company said. The Singapore telco announced yesterday that it has formally requested ASX to remove its CDIs from the official list due to low trading volume in the Australian market. CHANNEL NEWSASIA While the Government will muster all resources, build the infrastructure and create schemes, the private sector and members of the public have to step up in order for Singapore to realise its Smart Nation vision, Prime Minister Lee Hsien Loong said yesterday.
“We need you, the companies and the people, to step forward, to contribute, to spark the bright ideas,” he said. Speaking at the Founders Forum Smart Nation Singapore reception held at the Istana yesterday, Mr Lee made a pitch to about 200 people including investors, government officials and corporate bigwigs from the United States, Europe and Asia to use Singapore as the base to “change the world” and tackle its biggest challenges using technology. Citing the examples of Electronic Road Pricing and water technologies pioneered by the Republic, Mr Lee noted how the Government had succeeded in these efforts and created models for others to study. “We are embarking on our Smart Nation journey with the same determination.” The Republic provides the ideal place for firms and individuals to create prototypes and test bed new ideas, as it is compact and allows innovations to be scaled up. “If you can make it work in Singapore, you have a chance to adapt and apply it to other contexts. If it doesn’t work in Singapore, it’s probably worth a rethink,” he said. To make Smart Nation succeed, Singapore needs an entrepreneurial culture, which Mr Lee said was taking root here. He noted that at a time when “grey clouds are hovering over the world economy”, the technology industry is one of the bright spots. He reiterated that Singapore is “well-placed to take advantage of the technology and make a quantum leap forward”, citing factors such as an information-technology-savvy population, the push for e-Government, and the society’s “rational, technological and forward-looking” ethos. Mr Lee reiterated the Smart Nation initiative’s priorities: Help elders age in place, seek breakthrough solutions in mobility, and become a safe and secure data marketplace for companies to extract insights on market research and consumer trends. A Smart Nation Programme Office has been set up under the Prime Minister’s Office. It is headed by Minister for the Environment and Water Resources Vivian Balakrishnan. Mr Lee said he has a personal interest in the Smart Nation initiative. “Forty years ago, after doing a Math degree, I went on to study computer science, on my father’s advice. He said there’s a future in that and he was right!” The Founders Forum is a private network of more than 3,000 technology entrepreneurs from all over the world. Among those who are in town are Dr Jeffrey Rayport, a faculty member in the entrepreneurship unit at Harvard Business School. Yesterday’s reception kicks off a week of Smart Nation-related events, including panel discussions and a carnival where the public can dabble in the latest technology innovations and take part in a coding hackathon. A teenager who assaulted foreign workers with his friends because he was bored and thought they would not fight back was sentenced to 10 days’ detention yesterday.
Prosecutors were seeking a sentence of reformative training, which involves a minimum of 18 months in detention. Daryl Lim Jun Liang, 18, was also ordered to report to a supervision officer every day for one year, during which he has to wear an electronic tag and observe a curfew from 10am to 6pm. Lim, who was involved in four such incidents in September and October last year, also has to perform 150 hours of community service within the year. Youths aged 14 to 21 who are sentenced to reformative training undergo structured counselling as well as academic and vocational training for up to two-and-a-half years. In contrast, short detentions are more lenient community-based sentences. Lim is now out on S$15,000 bail after the prosecution applied for a pause in the start of his sentence while it studies whether to appeal. It must file an appeal within two weeks. Last month, Lim pleaded guilty to one charge of voluntarily causing hurt, with another charge taken into consideration for sentencing. The court heard that Lim and three others met on Oct 3 last year, hoping to practise their fighting skills by assaulting foreign workers. At around 6am, they spotted 48-year-old Chinese national Zuo Yu Nian. Lim and a 15-year-old accomplice — who cannot be named because of a gag order — repeatedly punched Mr Zuo in the face and mouth before fleeing. Pressing for reformative training as a deterrent sentence, Deputy Public Prosecutor Nicholas Lai said the attack was “particularly heinous” as Lim and his accomplices had a clear intent to attack a specific group of people — foreign workers whom they deemed “physically weak and unlikely to fight back”. Noting the rise in the number of youth crimes involving violence, the prosecutor said there is a “more-than-ever pressing need” to send a clear message to potential offenders that such acts cannot be tolerated and will be firmly dealt with by the law. Last year, 322 youths were arrested for rioting, 13.8 per cent higher than the 283 cases in 2013. The total number of youths arrested also increased from 3,031 to 3,094 in the same period. Mr Lai said placing Lim on probation will “offend public interest ... (and send) the wrong signal ... that such a serious offence will only be met with a slap on the wrist”. He added that the Government’s “zero tolerance” of youth violence was also made plain in Parliament in 2013 when Deputy Prime Minister and Minister of Home Affairs Teo Chee Hean reiterated that all young people who engage in violence will be brought to justice, regardless of their age. Although he agreed that Lim’s offence was premeditated and targeted a vulnerable group, District Judge Lim Keng Yeow ruled that reformative training was unnecessary given Lim’s age and that it was his first offence. The judge also noted that probation officers had assessed Lim’s risk of re-offending to be low. Having policies and infrastructure that support cycling as a primary mode of transport are some of the lessons that Singapore can learn from Denmark, said Transport Minister Lui Tuck Yew today (April 20).
Speaking at a reception to celebrate 50 years of Singapore-Denmark relations, Mr Lui said that while he was on a visit to the Scandinavian country last year, he was fascinated by how cycling is a primary mode of transport there, instead of just a complement to the main modes. Half of the commuters in Copenhagen move around on bicycles. “Even in the deepest parts of winter, you see Danish people cycling tens of kilometres to their destination,” said Mr Lui at the Danish Ambassador’s residence, where the reception was held. He added: “I am not suggesting that Singaporeans do that, but in terms of providing the infrastructure, in terms of the policies, in terms of making it a more friendly mode of commute in Singapore, that is something we are going to pick up further from Denmark.” At the launch of the latest Sustainable Singapore Blueprint last year, Prime Minister Lee Hsien Loong said that if the Danes can cycle in the winter, so can Singaporeans in the tropics. Besides cycling policies, Mr Lui said both Denmark and Singapore want to provide timely and accurate information of public transportation from Denmark. For example, both countries are trying to release more data on bus arrival times and crowd levels in buses to help commuters decide whether to wait for the next bus or walk to their destination, he said. Last week, the Land Transport Authority updated its MyTransport.SG mobile application to show more accurate bus arrival information and indicate whether there are seats on a bus through colour-coding. The reception yesterday also celebrated the birthday of Denmark’s Queen Margrethe II. Speaking at the reception, Mr Henrik Sass Larsen, Denmark’s Minister for Business and Growth, said the Danish Embassy was “working intensely” to promote new initiatives from Denmark for “Smart Cities” solutions in Singapore. One of these initiatives are electricity-saving smart grids. Launched in 2013 by the Danish government, the smart grid combines electricity meters read on an hourly basis with variable tariffs and a data hub, enabling consumers to use the power when it is least expensive. “We are trying all the time to get better solutions by using electricity better, how to save electricity,” Mr Larsen said. Stressing that Denmark is working with Singapore as equal partners, Mr Larsen said both countries have had a strong bond since 1965 and are cooperating in many new areas today. This includes the Danish food industry, which is becoming firmly established in Singapore, as well as architecture and urban development, he said. Last year, the Danish and Singapore Environment Ministries signed a Memorandum of Understanding on water and environmental innovation. “We hope to expand this corporation in creating liveable and sustainable cities,” said Mr Larsen. The Government will continue to make policies that benefit all Singaporeans, regardless of how they voted, said Minister for Manpower and Social and Family Development Tan Chuan-Jin, during a visit to opposition-held Aljunied Group Representation Constituency (GRC).
Reassuring residents of Serangoon ward there that they have not been forgotten by the People’s Action Party (PAP), Mr Tan told them at the start of a dialogue: “Let’s put it this way, it’s a democracy ... you decide what you want to choose, for better or worse. I will tell you that we will endeavour to do our best, whatever the outcome. “All of you remain Singaporeans. You don’t vote for us but we are here to still continue to provide policies that cut across every division,” he added. But he pointed out that while policies are crafted to benefit Singaporeans, they need to be balanced with societal needs and considerations for the future. “On our part as the Government, we do the best we can,” he said. Giving little away on the ruling party’s strategy to regain the constituency from the Workers’ Party at the next General Election, which must be held by January 2017, Mr Tan told reporters yesterday: “Strategy-wise, I guess we have to work that out. But our responsibilities as a Government don’t change.” The Workers’ Party, led by its chief Low Thia Khiang, fielded a team including chairman Sylvia Lim and star catch Chen Show Mao, to wrest the constituency from the PAP at the 2011 polls, representing the first time an opposition party has won a GRC. Asked by reporters for his take on ground sentiment after a community dialogue at The Serangoon Community Club, Mr Tan said the reception, by and large, has been warm. He added that he has also visited other areas in Aljunied in recent years to “touch base with the people here”. “Yes, it’s organised but people are there, and a lot of people. They come forward, they share their views, whether in a dialogue or during the course of the visit,” he said. Municipal issues have been raised by residents but they were “nothing peculiar” and something he also encounters in his ward in Marine Parade GRC. During his six-hour ministerial community visit to Serangoon division, Mr Tan mingled with residents at coffee shops, Tavistock Avenue Park and other venues. He was hosted Mr David Tay, adviser to the Serangoon Grassroots Organisations and accompanied by the visit’s organising chairman Chan Hui Yuh and other grassroots leaders. Every Singaporean can play a part in helping the less privileged, instead of leaving the task solely to social workers and mental health officers, said new Minister for Social and Family Development (MSF) Tan Chuan-Jin.
Mr Tan, who took over the portfolio this month from Mr Chan Chun Sing, was asked about his areas of focus at the MSF during a dialogue in Serangoon division yesterday. “The moment we think that this job is for social workers and (is none of our business), I think we’ve lost our part in society to care for others,” said Mr Tan, who was on a ministerial community visit. He urged the audience at a dialogue to talk to the elderly and low-income in their midst. Many members of the public feel angry about low-income Singaporeans working in old age, but “how many of us actually stop to talk to old people”, he questioned. By reaching out to the elderly, the public can also alert the authorities should they learn of any problems others are facing, he said. “When we learn to care for others, I think we reconnect with our values. Who we are as human beings is compassion, love, empathy. I think if we want to be a great nation, it’s about values.” NEO CHAI CHIN Queried by younger Singaporeans about the disparity in job opportunities available to graduates from various universities amid the Government’s push for multiple pathways to success, outgoing Manpower Minister Tan Chuan-Jin yesterday spoke about factors the Government tries to balance as he assured them of exciting opportunities here.
While acknowledging that graduates from autonomous and private universities are differentiated for some jobs, Mr Tan — who will hand over the manpower portfolio to Mr Lim Swee Say in a fortnight — said this is because of the difference in standards among universities. The authorities are looking to make available some information on employment outcomes, he added, at an 80-minute dialogue with about 170 residents that wrapped up his ministerial community visit to Serangoon division yesterday. He noted that in places such as Taiwan and South Korea, many people have degrees but not all are able to find jobs. In Singapore, the Government is taking steps to blur the lines between polytechnic and university graduates in the public sector, said Mr Tan. In other jobs, paper qualifications slowly matter less over time. Also weighing in on the issue was former Cabinet Minister Lim Boon Heng, who was another panellist at the dialogue. Mr Lim, who is special adviser to the chairman of the People’s Association board, said that not every degree is the same. “We don’t like ranking ... but private organisations rank universities and this ranking is available, so employers do look at ranking of universities,” he said. The rankings serve as a way to sift through a list of applicants without other information about how the applicant would perform in the job, but those who “lose out” at first can succeed later if they work hard and apply their minds to their work — as many of the older generation did, said Mr Lim. Mr Tan said the SkillsFuture initiative to help Singaporeans master skills throughout their lives will help in the pursuit of different pathways. Companies in Singapore create opportunities for workers and many find the workforce here hardworking, capable and cosmopolitan. “We want to not only create the opportunities for the jobs, we want to equip ourselves for the jobs,” said Mr Tan. Other participants in the dialogue spoke about challenges in finding skilled labour. Mr Tan, who is also the Minister for Social and Family Development, said certain decisions, such as the building of two integrated resorts, were taken at a time of uncertainty about economic growth drivers, and the government began tightening manpower policies around 2010. Foreign manpower numbers are still growing but at a slower pace; having zero growth would hurt Singaporeans and small and medium companies, he said. Foreigners supplement the pool of manpower and skills here, helping local companies to manage costs and keep their competitiveness, he said, noting that Singaporeans face competition from outside the Republic. Mr Tan also said it is impossible for policymakers to make everyone happy with every policy, and called on Singaporeans to give and take. The nation displayed the best of what it could be as a people recently when it mourned the death of founding Prime Minister Lee Kuan Yew, said Mr Tan, who urged people not to care only about their own backyard. A group of residents of The Peak@Toa Payoh are irked that their objections to the building of a Residents’ Committee (RC) centre at the void deck have gone unheeded.
The kerfuffle started when a notice was put up in March last year that the centre will be built at the void deck of Block 139B, stirring some residents to start a petition against the move, which they submitted to area Member of Parliament Hri Kumar Nair last June. Out of 246 units in that block, residents from 163 signed the petition. Despite the RC exploring alternative sites and adjusting plans — including reducing the size of the centre — because of concerns raised, residents were unmoved in their view. Building the centre, they said, will eat up their void deck space, as well as affect ventilation, lighting and safety of the area, among other things. Housewife Huang Eng Hui, 35, who lives at the affected block and is one of those who signed the petition, worries about the centre hindering evacuation in the event of a fire. “Because we have a lot of wheelchair users, young families with prams, in case of a fire, when people are coming down, they will need a straight path,” she said. The upcoming centre will also involve shifting the unloading bay to another area, which is near a blind spot where an accident had happened, she added. Another resident staying in that block agreed that an RC centre is necessary for the area, but she prefers to have it built elsewhere. The 31-year-old civil servant, who wanted to be identified only as Ms Josephine said: “It’s the Not-In-My-Backyard (NIMBY) attitude, but I think I’m not that keen on having an RC centre underneath the block. It’s better remaining an open space.” Other residents said it was not a case of NIMBY syndrome, pointing to how they had suggested alternative sites, besides void decks, for the RC centre. In a statement on April 7, Mr Charlie Chew, chairman of The Peak RC, said they had considered siting the centre at the rooftop of the multi-storey carpark and a standalone building, among other areas. Eventually, they secured the use of the Utility Room as a second site for the RC centre, allowing them to build a smaller centre at Block 139B, thereby addressing the residents’ concerns about ventilation, lighting, evacuation, and safety. Yesterday, Mr Chew told TODAY: “Their expectations of (not having a) RC centre at the void deck were not met, that’s why they interpret this as ‘I’m saying this but you’re not listening’.” When contacted, Mr Hri Kumar said it is unfair to label this incident as a case of NIMBY-ism, noting that it was the first time his constituents have expressed concerns about building an RC centre. He added that the RC had tried to address concerns by redrawing plans but the current arrangements remain the “best compromise”, given the lack of suitable alternative locations. Asked if communication with the residents could have been better, Mr Hri Kumar said: “It’s always a challenge, not just this case, to disseminate information. “We can always learn, it may be a question of stepping up the frequency of notices, it may well be a question of doing more direct connections door-to-door ... we have to keep trying our best to get the message across, deal with issues and do the best we can.” With the majority of radical websites and social media messages hosted on servers in the United States, US Under Secretary of State for Public Diplomacy and Public Affairs Richard Stengel yesterday found himself defending America’s stance of upholding the freedoms of religion and expression, including “the speech that we hate”, in response to questions on why the US authorities are not doing more to clamp down on such communications.
“The great Justice (Louis) Brandeis once said that the idea of free speech is not to protect the speech that we love, but the speech that we hate,” Mr Stengel said. While he acknowledged that it is a “sensitive and controversial” issue, Mr Stengel stressed that the freedom of religion and free expression are key tenets of American society. Mr Stengel was among the panellists during a discussion at the East Asia Summit Symposium on Religious Rehabilitation and Social Integration. Fellow panellist Professor Rohan Gunaratna, from the International Centre for Political Violence and Terrorism Research in Singapore, asked Mr Stengel why the US could not “take a tough position”. “Unless you address this, everyday there will be sympathisers and supporters of terrorist groups,” he said, to applause from the audience. Mr Stengel said the Islamic State in Iraq and Syria (ISIS) generates between 20,000 to 40,000 social media messages daily and manages over 9,800 websites. ISIS has reportedly started its own social media network, 5elafabook, after Facebook and Twitter clamped down on thousands of ISIS-related accounts in recent months. Mr Stengel felt that social networks can be harnessed to disseminate “credible voices” rejecting terrorism. “(Social media) is a powerful tool for them, but it should be an even more powerful tool for us.” Non-oil domestic exports rebounded sharply by 18.5 per cent last month, data from the International Enterprise Singapore showed today (April 17).
The double digit expansion is in contrast to a 9.7 per cent decline in the previous month, and exceeds economists' expectations. Economists polled by Reuters had expected a dip of 0.7 per cent last month. The growth in electronics exports was largely driven by intergrated circuits, personal computers as well as diodes and transistors. For non-electronic products, exports rose for pharmaceuticals, structures of ships and boats as well as non-electronic engines and motors. |
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