Government urged to review CPF holistically TODAY By NG JING YNG Published: May 21, 4:12 AM Updated: May 21, 4:13 AM SINGAPORE — Beyond gradually raising contribution rates, the Government would need to re-examine the Central Provident Fund (CPF) system holistically as it seeks to ensure Singaporeans have enough for their financial needs in their golden years, observers and Members of Parliament have said. Among their suggestions are increasing the interest rates for the Ordinary Account (OA) and Retirement Account (RA), lowering the withdrawal limits for buying property and relooking the allocation between the OA, the RA and the Medisave Account. Yesterday, the Ministry of Manpower (MOM) said it would continue to review and improve the CPF system in consultation with the labour movement and employers, “so Singaporeans can retire with peace of mind, while taking into account the cost implication to employers”. The MOM was responding to President Tony Tan’s address last Friday at the reopening of the 12th Parliament, when he said the Government would improve the CPF savings and annuity schemes, and develop more options for elderly Singaporeans to monetise their homes. The ministry, however, did not provide details of its review. To boost older Singaporeans’ financial capability in retirement and improve healthcare affordability, it was announced during the Budget in February that CPF contribution rates for older workers would be increased next year. Amid concerns from employers about higher business costs and that older workers could be less attractive to hire, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said the Government did not expect to make further changes soon to total CPF contribution rates. Members of Parliament (MPs) who spoke to TODAY reiterated that continuously increasing the contribution rates was unsustainable. Ang Mo Kio GRC MP Inderjit Singh suggested that, in tandem with more affordable housing, the CPF Board could allow Singaporeans to use less money from their OA to buy a property. “If we use less for housing, we will have more for retirement. We start earning 4 per cent (interest rate) earlier,” said Mr Singh, who also suggested raising the interest rates, which currently stand at 2.5 per cent per annum for the OA and 4 per cent for the RA. Money in the OA can be used to repay housing and education loans, for instance. The RA is to cater to a CPF member’s retirement needs. Currently, CPF monies are invested in bonds that are issued and guaranteed by the Government. Chua Chu Kang GRC MP Zaqy Mohamad proposed an investment-linked plan managed by the CPF Board to pool together investments from different members and provide higher returns. The Government stated previously on several occasions that higher returns would entail greater risks. Still, Mr Zaqy noted: “What Singaporeans are looking for are higher returns but, at the same time, they know there is someone trusted like the CPF watching their backs.” Agreeing with the plan to create more ways for the elderly to unlock the value of their homes, Mr Zaqy also called for greater flexibility in the Minimum Sum scheme, which requires Singaporeans to set aside a certain sum in their CPF, so they can receive monthly payouts when they reach the draw-down age. The Minimum Sum has been increased over time to account for inflation. National Trades Union Congress deputy secretary-general Heng Chee How reiterated that raising CPF contribution rates is only one way to enhance savings. Offering a slew of suggestions, Mr Heng, who is also MP for Whampoa, said the CPF wage ceiling could be reviewed periodically to help those earning above the ceiling to save more in their CPF accounts. The allocation to the sub-accounts — the proportions vary as one ages — could also be tweaked and payout rates from the CPF LIFE annuity scheme could be increased, among other things, he said. Citing the plight of workers who have low disposable incomes, unionists said employers should bear higher CPF contribution rates. Noting that the contribution rates of employers are currently lower than those of the vast majority of workers, Amalgamated Union of Public Employees deputy general secretary Yeo Chun Fing said the first step might be to level up employers’ contribution rates. A paper by National University of Singapore economists in 2012 showed that the CPF system would be able to provide adequately for retirement “with prudent choice of housing and the wise use of withdrawn CPF savings”. CIMB economist Song Seng Wun felt it was inevitable that contribution rates — from both employers and employees — would have to increase over time to ensure retirement adequacy, however unpalatable that might be. “The profile of the population is ageing … healthcare costs are certainly going to rise. From a demographic standpoint, it seems inevitable in terms of planning for the future,” he said. While the CPF system could theoretically be made more flexible to consider one’s financial acumen and whether he or she has adequate personal savings, this would be challenging to implement, Mr Song added. He said: “It is never going to be easy when you act on behalf of your citizens ... From a citizen’s standpoint, why are you so controlling over every aspect of my life?”
Major overhaul for public bus services Operators to bid for route packages decided by LTA, Govt to fund buses and pay bus companies; contracting model to cut waiting times for passengers TODAY By Joy Fang Published: May 22, 4:12 AM SINGAPORE — The public bus industry will be radically overhauled, in what analysts have described as the biggest transport policy revamp in decades. After several previous attempts to address persistent grouses from commuters over route coverage and waiting times, the Land Transport Authority (LTA) announced yesterday that, from the second half of this year, the Government will embark on a bus contracting model that will see operators bidding for a package of routes through competitive tendering. The Government will own, provide and fund all bus operating assets and infrastructure such as buses, depots, interchanges, bus monitoring and operations systems, and fare systems. The LTA will determine the bus services to be provided and the service standards, and operators will bid for the right to operate these services. Revenues from fares will go to the Government, while operators will pocket the non-fare revenues from advertising on buses or commercial rentals at interchanges, for example, on top of the amount it is paid by the Government to run the services. Higher service standards will be enforced in the new contracts. Under the contracting model, 45 per cent of the bus services will have shorter waiting time during peak periods. The waiting period for all buses should not exceed 15 minutes during peak periods. The LTA added that under the current privatised model, operators may not run services if these are assessed to be unprofitable. Having studied the London and Australian bus contracting models over the past two years, the LTA noted that these models have run well and brought improvements to services. The LTA stressed that the job security and welfare of bus drivers and workers will be a key priority. It will work with the National Transport Workers’ Union and the operators to ensure a smooth transition for affected employees. Under the new model, an operator is required to make employment offers to workers previously hired by its rival on terms that are not worse if it wins the tender for a package of routes. Who will pay for higher service levels? Transport analysts lauded the move as commuters will benefit from the expected higher service levels. However, the new system would be “very expensive” for the Government, noted Dr Park Byung-joon, head of the Urban Transport Management Programme at SIM University. “To be able to achieve the standard the Government is going to ask for, it will probably cost more than the fares we are currently paying,” he said, adding that it is unlikely the additional costs will be fully passed on to the commuters. Hence, the amount of taxpayers’ monies the Government spends on public transport could increase significantly, he noted. In London, bus fares have gone up by 59 per cent since 2005, while the number of journeys increased by about a quarter over the same period. In Perth, taxpayers pay for two-thirds of the costs of providing the bus and rail systems while commuters pay the remainder. Mr Colin Barnett, the Premier of Western Australia, recently said commuters would need to pay as much as half of the cost eventually. The LTA stressed that the Government will continue to ensure the affordability of public transport fares. Speaking on Channel NewsAsia’s Talking Point programme last night, LTA director of policy Looi Teik Soon said the practice of having the Public Transport Council set the fares is “here to stay”. “We already have a fare review mechanism ... The contracting is merely to make sure the operators … provide the services at the most competitive cost,” he said. The Government will pay for the shortfall between the fares set by the PTC and the cost of running the services, he added. Operators to be kept on their toes Both the public transport operators — SMRT and SBS Transit — said they welcomed the restructuring. Still, SBS Transit — whose sister companies in London and Sydney operate under a contracting model — said the new regime would have a major impact on its operations. Its chief executive officer Gan Juay Kiat described the restructuring as “one of the most significant developments in the local bus industry in recent times”. Yesterday’s announcement came about six years after the Government first signalled its intention to introduce greater contestability in the bus industry in its Land Transport Master Plan 2008. Since then, several moves have been made in that direction. In 2009, the LTA took over from SMRT and SBS Transit to become the central bus network planner. In 2012, the Government announced a S$1.1 billion Bus Service Enhancement Programme (BSEP) to buy and pay for the running costs of 550 additional buses. In March, the BSEP was expanded, with 450 more buses to be rolled out. The LTA said the new model will lower barriers of entry and attract more bus operators. Since last year, it has experimented with competitive tendering on a small scale with the City Direct Services and Peak Period Short Services. “The privatised model has served Singapore well, but with the changes in the social and operating environment, a contracting model would serve us better going ahead,” it added. Writing on Facebook, Transport Minister Lui Tuck Yew said that, during his visit to London, he could see that commuters there were able to enjoy enhanced bus services over time, under the bus contracting model, “because the operators need to compete for the right to run the bus services”. This model has kept the operators on their toes, he said. TODAY understands foreign operators that are potentially interested include joint venture firm Veolia Transport-RATP Asia, French transport group Keolis, Australia’s Tower Transit and United Kingdom’s Go Ahead. Acknowledging the existing challenges of hiring enough bus drivers, LTA’s Mr Looi said policymakers are discussing whether to grant flexibility to prospective operators under the foreign manpower regime during the transition period. The best of both worlds? In Parliament, the Workers’ Party has been calling for the public transport system to be nationalised. Some analysts felt the restructuring of the bus industry was a step closer to nationalisation, with Professor Lee Der Horng, a transport researcher from the National University of Singapore, describing the move as “semi-nationalisation”. However, an LTA spokesperson reiterated: “Bus contracting is not nationalisation. A nationalised public transport system is one where the Government runs the bus services itself, keeps the fares, and pays for all operating costs.” She added: “Our model thus seeks to secure the responsiveness of a nationalised system by Government being the one to decide on the bus services and standards to be provided and paying for the operation of such services, while tapping the efficiencies of the private sector, by getting private companies to operate the bus services.” With the restructuring of the bus industry set in motion, the question now is when the rail sector will follow suit. The authorities are studying a proposal submitted by SMRT last month to sell its rail assets to the Government. Noting that the contracting model applies to the Downtown Line and future rail lines — under a rail financing framework introduced in 2010 — the LTA spokesperson said: “For existing lines, there will be a need to go through a process of consultation and mutual agreement if the existing operators were to come on board the new financing framework.” Transition to the new framework will only proceed on terms that are “mutually acceptable” to both the Government and operator, she said.
How the bus contracting model works Today By Joy Fang Published: May 22, 4:12 AM Updated: May 22, 4:15 AM Bus contracts will be offered by the Land Transport Authority (LTA) through competitive tendering. The Government will own, provide and fund all bus operating assets and infrastructure, such as buses, depots, interchanges, as well as bus feed monitoring and operations systems. It will keep the fare revenue. Bus operators will be paid fees to operate the services. They will pocket the non-fare revenue. Twelve packages of routes, with about 300 to 500 buses each, will be available. Packages will be based around depots and could be a combination of existing and new routes. Three packages, making up about 20 per cent of routes, will be tendered out first. The contract period will be five years, with a possible two-year extension on good performance. The first package will be tendered out in the second half of this year for implementation from the second half of 2016. The remaining 80 per cent will be grouped into nine packages. These will be run by incumbents SMRT and SBS Transit on negotiated contracts under the contracting model, for about five years, after their Bus Service Operating Licences expire on Aug 31, 2016. After the negotiated contracts expire, more bus services will be gradually tendered out. Beyond 2022, there will be full tendering of bus services, with an estimated three to five operators in all. Higher service standards will be set. For example, the waiting period for all buses should not exceed 15 minutes during peak periods. A common bus livery, much like the iconic red London bus, is being explored.
National Stadium’s hybrid grass turf a first for Asia TODAY By Tan Yo-Hinn Published: May 22, 4:12 AM SINGAPORE — The National Stadium, which is due to open next month, will boast a playing field that Sports Hub officials say is durable and cost-effective, and designed to minimise the risk of events being rescheduled or cancelled. The 55,000-seat centrepiece of the S$1.33 billion Sports Hub will be the first stadium in Asia to be turfed with the Desso GrassMaster, a reinforced grass that is estimated to cost about €500,000 (S$858,000) to install. Specialised machines will inject a natural grass pitch with artificial fibres 18cm into the sand and at 2cm intervals — or about 114 million protective fibres in all. This allows the grass — a blend of rye and blue grass selected from 20 types after 15 months of tests — to anchor its roots around the fibres for added strength. The regeneration process starts after just three days, with full recovery after two weeks, compared with conventional natural grass, which requires about four weeks. Coupled with the pitch’s drainage system, which works at 600ml per hour, it means the possibility of events being rescheduled or cancelled due to the poor surface is greatly minimised. SportsHub’s senior director (stadia) Greg Gillin said the grass system will provide significant long-term savings for the sports complex, as the Desso GrassMaster’s maintenance costs are one-quarter that of lay-and-play natural grass surfaces. “With this surface, we don’t change it. Even if we lose the grass, we can still play a game on it. You are (already) in front by about S$1.5 million to S$2 million per year just in operating costs,” he said. “We’re talking about S$400,000 to S$500,000 to replace a lay-and-play surface. And with the event calendar we’ve got, a lay-and-play surface would probably last a month, maybe two. So that means about eight surfaces a year depending on the number and type of events, (and the costs) quickly start to mount.” Desso, a Belgian firm specialising in fields for sports including football, hockey, rugby and tennis, says the GrassMaster has been approved by world governing sports bodies including football’s FIFA and athletics’ International Association of Athletics Federations (IAAF). It has installed the surface in about 600 venues, including London’s Wembley and Emirates stadiums, as well as the Arena de Sao Paulo, where the World Cup opening match between hosts Brazil and Croatia will be held on June 12. The system eliminates many disadvantages of other playing surfaces — natural turf is easily damaged and requires more maintenance, while artificial pitches have been criticised for being too hard and contributing to a higher rate of injuries — although a drawback is the difficulty of replacing damaged portions. While small repairs can be done manually, Desso chief executive officer Alexander Collot d’Escury said arrangements are being made for repair machinery to be available. A local team will also be set up to maintain the pitch. Among the first events at the National Stadium are the World Club 10s Rugby championship from June 21 to 22, the football matches involving Singapore and Malaysia on Aug 8, and Italian Serie A champions Juventus against a Singapore Selection side on Aug 16. Corporate interest in the Sports Hub is also rising. Already, 62 of its executive suites, priced between S$72,000 and S$272,000 annually, have been snapped up, while in November last year, OCBC Bank secured a 15-year naming rights deal worth more than S$50 million — Singapore’s biggest sports sponsorship deal to date — for five of the Sports Hub’s properties. With so much at stake, Mr Gillin stressed the quality of the pitch cannot be underestimated. “We want to maximise the patron’s experience and it would be affected if athletes played at just 80 per cent (or less because of the pitch),” he said. “We could do about 90 events a year, but we’re looking at around 110. We want to push the envelope ... (but) need a surface that meets the requirements of our packed calendar. If we cannot meet our business plan, then we might as well not do it.”
Blogger Roy Ngerng apologises to PM Lee for alleging CPF funds misappropriated The Straits Times Published on May 23, 2014 11:14 AM SINGAPORE - Blogger Roy Ngerng has on his blog and in a letter to Prime Minister Lee Hsien Loong's lawyer apologised to Mr Lee for a May 15 post alleging CPF Funds were misappropriated He is also appealing against Mr Lee's demand for damages. In a post on Friday morning, Mr Ngerng said he admitted and acknowledged the allegation is false and "completely without foundation." "I unreservedly apologise to Mr Lee Hsien Loong for the distress and embarrassment caused to him by this allegation," he added.
Singapore leaps to third place in PwC study on global cities 23 May 2014 SINGAPORE: Singapore retains its lead in the transportation and infrastructure indicator in the latest PricewaterhouseCoopers (PwC) study on global cities, which helped it edge into third position overall behind London and New York. "The city-state climbs four spots to third place and also finishes first in the two areas it is well-known for - transportation and infrastructure and ease of doing business," Bob Moritz, US chairman and senior Partner at PwC, said in the Cities of Opportunity report that was released this week. The study was initiated in 2007 to help the world's great cities understand what policies and approaches work best for people and economies in a rapidly urbanising world. Singapore ranked seventh in the previous edition of the report released in 2012. Transportation and infrastructure, in particular, was highlighted in the report. PwC found strong performances in the housing and public transport systems variables helped the city-state widen its lead on second-placed Toronto. "Singapore clearly understands the fundamental role of infrastructure in a city's development and in its contribution to the well-being of its citizens," the report stated. The latest edition of the report has expanded from 27 cities to 30, and based its findings on data collection with real-life responses to a series of questions relating to urban life. It also included publicly available information from institutions such as the World Bank and the International Monetary Fund, and commercial data providers, which was mostly culled from data collected during the latter half of 2013. - CNA
23 May 2014 SINGAPORE: Prime Minister Lee Hsien Loong has responded, through his lawyers, to an apology by a blogger for "serious libel". Drew & Napier, acting on behalf of the Prime Minister, noted in a letter on Friday (May 23) that Mr Roy Ngerng accepts that he had put forth an allegation that was "false and completely without foundation". He had earlier posted an infographic that accused Mr Lee of being guilty of criminal misappropriation of Central Provident Fund monies. Mr Ngerng, a 33-year-old healthcare worker, has since taken down the blogpost. And he posted an apology for it early on Friday morning, ahead of a 5pm deadline to comply with a letter of demand sent from Mr Lee's lawyers. However, Drew & Napier said Mr Lee is fully entitled to damages, despite a request from Mr Ngerng's lawyer, Mr M Ravi, for this demand to be dropped. Mr Ravi had written: "This would be so as not to reduce our client to a most assuredly disadvantaged position." Drew & Napier have set a deadline of 5pm on Monday (May 26) for Mr Ngerng to send over a written offer of damages and costs. If not, legal proceedings will start against him. It said the damages that are offered should reflect "the gravity of the false and malicious charge", its widespread circulation, and the standing of Mr Lee.
23 May 2014 SINGAPORE: People can criticise the government in Singapore but if any allegations are made, they must be backed up with facts. Law and Foreign Affairs Minister K Shanmugam made that point on Friday, adding that there is no rule preventing people from critiquing national policies. He suggested, however, that a sound approach would be to keep debates honest. Mr Shanmugam was speaking at a law conference attended by local and overseas members of the legal fraternity. The tension between civil liberties and societal responsibility was discussed at the symposium, which focused on the law's role in promoting development. Commenting on the issue, Mr Shanmugam said it was possible to strike a balance between personal freedoms and the rule of law. He added that under Singapore law, there is room for criticism of the government -- whether it is fair, reasonable and true, or the opposite. "What you can't do, under our framework of law, is make a personal allegation of fact against anyone, including a politician. “So if you say, the Prime Minister steals from pension funds, then you better be prepared to prove it,” he said. Mr Shanmugam said that requiring people to back up allegations with facts means that integrity in politics is maintained. He also said that various stakeholders have a key role to play. Mr Shanmugam said in complex economies and societies, civil society groups’ participation is essential -- and coupled with the involvement of the wider community, it is how a country can move forward. He noted that more developed countries will typically see a deeper desire for greater participation among people, and that kind of change has to be accepted. "None of that is to say that political stability is unimportant. Political instability, I think -- at least for most countries and certainly for us -- would lead to, I think, economic paralysis, simply because decision-making in government would become difficult,” he said. Mr Shanmugam emphasised that the key focus of the law is to provide a framework within which people can exist in a free environment. - CNA/nd
CPF misconceptions clarified By Leong Wai Kit POSTED: 25 May 2014 21:49 SINGAPORE: Manpower Minister Tan Chuan-Jin has clarified some of the misconceptions about CPF (Central Provident Fund). His comments, made in a blog post on Sunday, come days after allegations that the government is misusing CPF money. "CPF is a scam", "It's how the government cheats you of your money", "And it's raising the Minimum Sum to keep you from taking your money" - these are some of the talk that has surfaced online, said Mr Tan. He said he had asked people he met if they had read what the CPF is about. Most of them said 'no', said Mr Tan. In his blog post, Mr Tan made three points: CPF helps Singaporeans retire; The money belongs to Singaporeans; and The Minimum Sum is increasing because Singaporeans are living longer, which means there's a need to spread out payouts. Mr Tan said many countries adopt a pension system. But Singaporeans save for their own retirement via their CPF accounts, along with contributions by bosses and the government. This, Mr Tan said, is a more sustainable system. He said the CPF scheme is more than a monthly pension. Singaporeans can use it to pay for housing and healthcare. Mr Tan said in many countries, retirees have to use their pensions to rent homes. In Singapore, a vast majority of Singaporeans own their homes, paid for out of their CPF. When the British introduced the CPF scheme in 1955, Mr Tan said, Singaporeans could draw out all their savings at the age of 55. But that was when the life expectancy was about 60. Today, the retirement age is 62 - and Singaporeans can be re-employed till they are 65. And the life expectancy, Mr Tan said, is at least 82 - and rising fast. Mr Tan said that in 2003, the government wanted to raise the Minimum Sum to help lower- and middle-income retiree couples cope with rising costs. And that's when the sum of $80,000 then would be raised to a target of $120,000. The increase will be reached over 10 years. But, Mr Tan said, many have forgotten this was decided many years ago and are thus surprised each year when the Minimum Sum is raised. The current Minimum Sum for those turning 55 from July this year is $155,000. Mr Tan noted that some older Singaporeans may not be able to meet the Minimum Sum. He said the government will help them. Mr Tan stressed that Singapore's CPF system is fair and sustainable. He assured Singaporeans that their funds are absolutely safe. - CNA/ir
Singapore aims to be top fly-cruise hub in Asia Local tourism players are stepping up efforts to lure passengers worldwide . The Straits Times Published on May 26, 2014 6:23 AM By Karamjit Kaur Aviation Correspondent From offering direct baggage transfers between Changi Airport and cruise ships to spending millions on marketing efforts, Singapore is aiming to be Asia's premier cruise hub. The region's cruise tourism market is tipped to grow to 3.8 million passengers by 2020, based on industry projections. Singapore attracted 1.03 million cruise passengers and 391 ships last year, jumps of 13 per cent and 17 per cent respectively from 2012. Now it wants the lion's share of the Asian market, currently dominated by China, which attracted about 1.4 million cruise passengers last year. Apart from providing the necessary infrastructure at the cruise terminals at HarbourFront, Tanah Merah and Marina Bay, more will be done to develop the fly-cruise market.
NTU unveils S$30m 3D printing research centre POSTED: 26 May 2014 13:59 The NTU Additive Manufacturing Centre will focus on research areas such as medical devices and tissue printing. SINGAPORE: Nanyang Technological University (NTU) unveiled its S$30 million 3D printing research centre on Monday (May 26). It also announced a S$5 million joint laboratory agreement with 3D printer manufacturer SLM Solutions on the same day. The research centre, named NTU Additive Manufacturing Centre, was officially opened on Monday morning by Mr Lee Yi Shyan, Senior Minister of State for Trade and Industry and National Development. Among key research areas the Centre will focus on would be medical devices and tissue printing. "In future, knee and bone implants customised to fit individual patients could be easily made using 3D printers," the NTU said in a statement. NTU President Bertil Andersson said the facility is equipped with the latest 3D printing machines, such as laser-aided machines for printing metal parts and bio-printers to print real human tissues. The new Centre, which is is supported by the Singapore Economic Development Board, not only aims to collaborate with industry partners to develop innovative solutions but also to bring the best talents in the field together, he added. The collaboration with SLM Solutions will also aid in developing next-generation 3D printing machines that can print much larger parts than today's printers and new types of materials, the university said. - CNA/kk
No problem, try, try and try again. Yes, unable to paste pictures for some time now. They can attract.
Underpass to link MRT with Capitol from early next year . The Straits Times Published on May 28, 2014 7:54 AM The underground link between Capitol Singapore (above) and City Hall station will be funded and constructed by Capitol Investment Holdings. -- PHOTO: URA Sorry, still unable to paste pictures. Don't know whether kwun is still working on this to provide a solution. Commuters will have a new underpass to get to the redeveloped Capitol Singapore from City Hall MRT station by early next year. The underground link will be funded and constructed by Capitol Investment Holdings, the developer of the $1.1 billion project on North Bridge Road. The Land Transport Authority (LTA) will create a new entrance at City Hall station that will connect it to Basement 2 of Capitol Singapore, an integrated development with residences, a hotel, retail mall and a theatre. In a statement yesterday, the LTA said the link will "improve pedestrian access and comfort". It called for tenders to construct the new entrance at City Hall.
The Straits Times Published on May 28, 2014 1:06 PM By Amelia Teng SINGAPORE - The Singapore Management University (SMU) has appointed Nobel Laureate Thomas J. Sargent as distinguished professor of economics, for a three-year term from January 1 2015. Professor Sargent was awarded the 2011 Nobel Prize in Economic Sciences with Professor Christopher Sims . They developed methods to analyse the causal relationship between economic policy and key macroeconomic variables such as GDP, inflation, employment and investment. The macroeconomist, who graduated with a bachelor of arts from the University of California at Berkeley in 1964, completed his PhD in economics from Harvard University in 1968. He is currently the William R. Berkley Professor of economics and business at New York University, and a senior fellow at the Hoover Institution
1,500 apply for 200 places in full-time degree courses at UniSIM Flexibility, work stints draw many to varsity's first full-time degree courses Ms Ng Wai Ling will study accountancy and is attracted to the work attachments that UniSIM offers. Mr Tan Jun Han will study marketing and looks forward to taking courses with working adults. -- ST PHOTO: DESMOND WEE By Sandra Davie Senior Education Correspondent It may be offering full-time degree courses for the first time, but SIM University is proving a popular choice among young people. The university drew 1,500 applications for the 200 places it has in accountancy, marketing and finance, and shortlisted 900 applicants for the four-step selection process which included interviews and essays. Close to six in 10 of those who applied were polytechnic diploma holders, while the rest had A levels, said UniSIM. The median grade point average for the polytechnic graduates offered places was 3.4 out of 4, putting them in the top 20 per cent of the polytechnic cohort.
New eco-garden opens in Jurong 5ha park next to NTU has butterfly garden, ponds Published on Jun 1, 2014 12:28 PM The 5ha Jurong Eco-Garden next to Nanyang Technological University provides a place for residents to go for strolls and to enjoy nature. -- ST PHOTO: LAU FOOK KONG By Melissa Lin SINGAPORE - Residents living in the West can now go for strolls and enjoy nature at a new park next to the Nanyang Technological University. The 5ha park, called Jurong Eco-Garden, consists of a freshwater swamp, streams, ponds and a butterfly garden, among other facilities. It also features walking trails and a summit lookout where visitors can have a bird's eye view of the park. The park is a project by JTC Corporation and is located in the firm's CleanTech Park, an industrial park dedicated to the research and development of sustainable solutions. Minister for Health and adviser to Chua Chu Kang Grassroots Organisations, Mr Gan Kim Yong, officially opened the park on Sunday. In his speech, Mr Gan said the park "can become a focal point for community interaction".
Singapore top Asian destination for professionals looking to work abroad: Survey POSTED: 02 Jun 2014 10:56 The Republic ranks seventh in top places professionals would choose to relocate to; US, Britain and Australia top the list. SINGAPORE: Professionals looking to move abroad to pursue career opportunities have identified Singapore as their top destination in Asia, according to a survey of professionals from around the world. The United States, United Kingdom and Australia continue to head the list as top destinations for professionals looking to work overseas, according to global recruitment firm Hydrogen Group's fifth Global Professionals on the Move report, which was released on Monday (June 2). In Asia, Singapore (7th) came in ahead of Hong Kong (11th) and China (12th). The results were based on an online survey conducted in November 2013, comprising 2,444 responses from professionals in 99 different countries. The UK contributed 21 per cent of respondents, with the remainder a "fairly even spread" of countries in Europe, Australasia, North America, Middle East and Asia, according to the Hydrogen Group. RISING IMPORTANCE OF 'RETURN HOMERS' The report also highlighted a segment of respondents who categorised themselves as "return homers". About 27 per cent of professionals said they had returned home from an international work stint, and 71 per cent of these were aged between 30 and 60 years, it stated. This demographic is of increasing importance to a number of Asian states, including Singapore, as they see this group of professionals as a means to help develop local economies as well as alleviate the reliance on expatriates, Hydrogen Group said. Some of the ways governments are trying to entice this group of workers home include offering tax breaks, it added. "We now have a worldwide talent pool to draw candidates from. The return homers are of particular interest in Asia, where countries are legislating to ensure their local talent is developed, retained and attracted back," said Mr Simon Walker, Asia-Pacific COO at Hydrogen Group, in a prepared statement. However, while these "return homers" are highly coveted, it appears they are also highly mobile. About 96 per cent of this demographic said they were willing to work abroad again, and many of these were the most willing to work in the emerging BRICS (Brazil, Russia, India, China, and South Africa) markets where there are clear talent shortages, the report stated. - CNA/kk
