Category: Singapuraku

  • Israel’s PM Benjamin Netanyahu To Become First Israeli Prime Minister To Visit Singapore

    Israel’s PM Benjamin Netanyahu To Become First Israeli Prime Minister To Visit Singapore

    Israel’s Benjamin Netanyahu looks set to become the first sitting Israeli Prime Minister to visit Singapore.

    According to a Jerusalem Post report, the 67-year-old announced he would make the trip at a cabinet meeting on Sunday (30 October). It would be a reciprocal visit for the one that Prime Minister Lee Hsien Loong made to Israel in April.

    The Republic is one of four countries Netanyahu plans to visit, in addition to Australia, Kazakhstan and Azerbaijan. No exact dates were given.

    “Israel’s international relations are spreading in Asia, Africa, Latin America, and many other places,” said Netanyahu. “We realise that this development flows from Israel’s technological and economic strength on one hand, and its security and intelligence capabilities on the other.”

    In November 1986, Israeli president Chaim Herzog paid a three-day official visit to Singapore, sparking protests by various political groups in Malaysia, Indonesia and Brunei.

    According to a Straits Times report from 1986, they urged Singapore to call off Herzog’s visit by taking into account the prevailing sympathy of Muslims in the region towards the Palestinians’ struggle against the Israeli government.

    Source: https://sg.news.yahoo.com

  • Singaporean Who Died On Kayaking Trip In Perak Was ‘Very Good Swimmer’

    Singaporean Who Died On Kayaking Trip In Perak Was ‘Very Good Swimmer’

    He was a lifesaver, a kayaking trainer and a lover of water sports.

    But that only made the circumstances of Mr Koh Kah Wei’s death a bigger blow for Mr Moe Aripe, his mentor of 15 years.

    On Saturday, Mr Koh, 30, died doing what he loved.

    He drowned while kayaking in white water with six friends in the Sungai Tesong in Perak.

    His body was found yesterday after a day’s search.

    Mr Moe, 56, told The New Paper: “He was well-equipped to deal with all kinds of water situations. To die due to drowning is very shocking. I’m still in a state of disbelief.”

    Adding that they had met up about two weeks ago, Mr Moe, who runs Angel Lifesaver School, said: “He must have been unconscious.”

    The Bidor Fire and Rescue Department in Perak received a distress call about the incident on Saturday at about 4.50pm.

    Department chief Nadzir Razak told Bernama: “His kayak hit driftwood and overturned, throwing him into the water. His friends tried to help but failed as the current was swift.”

    A 30-man search and rescue operation was conducted on the same day, but was hampered by bad weather.

    Tapah Fire and Rescue Department’s Assistant Superintendent Kamarulzaman Busirun said the search resumed at about 7am yesterday with a 67-man team.

    He told TNP: “It was a relay rescue operation with one group taking over from another. We wanted to make sure the search was continuous.”

    At 3.15pm, Mr Koh’s body was found near a rock about 1km from the site of the accident.

    His shirt was stuck between rocks.

    FAMILY GRIEF

    Mr Kamarulzaman said: “The victim’s family who were present were crying. We tried to calm them down, and tell them nobody would wish for this to happen.”

    He added that the body has been sent to Tapah Hospital for a post-mortem.

    Last night, Mr Koh’s sister, Yu Xiang, posted details of his wake at Block 301D, Anchorvale Drive on his Facebook account.

    In Singapore, the lifesaving fraternity is coming to terms with news of Mr Koh’s death.

    Said Mr Moe: “I have been receiving calls from other instructors and lifesaving teacher colleagues asking me about it. It’s been a hard time for me trying to explain to everyone what has happened.”

    The loss is more painful for him as he had come to see Mr Koh like his son, after mentoring him for 15 years.

    He said: “Kah Wei was a very good swimmer. I pushed him hard.

    “He was among a group I handpicked and trained to become swimming instructors and lifesaving coaches because they are good.

    “I became not just a coach or mentor but a fatherly figure to them. I would be fierce or harsh whenever any one of them did something out of line.”

    Mr Koh was qualified to conduct lifesaving examinations.

    He was also a lecturer at the National Community Leadership Institute, the community leadership development arm of the People’s Association (PA).

    He was also an instructor at PA-Water Venture, which offers water and adventure sports activities.

    Said Mr Moe: “He achieved what he wanted. I was really very proud of him. Suddenly, all that is taken away.”

    He was well-equipped to deal with all kinds of water situations. To die due to drowning is very shocking. I’m still in a state of disbelief.

    – Mr Moe Aripe, who mentored Mr Koh Kah Wei for 15 years

     

    Source: The New Paper

  • Singapore Inc Faces $12 Billion Debt Scramble

    Singapore Inc Faces $12 Billion Debt Scramble

    Singapore companies, highly exposed to slowing global trade and a lackluster commodity market, face a financing scramble in 2017, as more than US$12 billion of their bonds falls due and banks grow wary of lending to the resources sector.

    That could trigger more blood-letting in a market that has already seen some high-profile corporate defaults, such as oil services firm Swiber Holdings (SWBR.SI), which hit the skids in July and went into judicial management this month.

    It has also seen an increase in the number of bond issuers trying to renegotiate the terms of their credit to stay afloat, a disturbing signal in a market skewed to retail buyers and smaller issues subject to light scrutiny.

    Corporate leverage has risen to increasingly risky levels, according to credit analysts and investors, while banks are becoming more circumspect about extending financing as the quality of their loan books causes concern.

    Between now and the end of 2017, according to Reuters data, US$12.4 billion of bonds falls due, but corporate balance sheets in the city state are looking strained.

    A Reuters study of 228 non-financial companies’ half-year earnings shows that 74 had net debt more than five times their core profit, a level that usually prompts concern among credit analysts, and more than a third of that group were at least twice that level.

    “We had not seen Singapore dollar corporate defaults since 2009, but suddenly we see a pick-up in defaults in 2015-2016. This is a warning sign about a refinancing confidence crisis across many sectors, not just commodity-related ones,” said Raymond Chia, Head of Credit Research for Asia ex-Japan at Schroders Investment Management.

    LIGHT SCRUTINY

    The structure of Singapore’s capital markets has left them particularly vulnerable as global trade cools and Chinese growth slows. Commodities have been a mainstay after a frothy 2013 and 2014, and private banking has loomed large, fuelling smaller bond deals. In 2014, private banks accounted for almost half of investments into Singapore dollar corporate debt, a central bank report said last year.

    Their participation has helped encourage smaller issues that are not assessed by credit rating agencies and yet are targeted at private wealth investors, analysts say.

    “Their bond issues are also mostly unrated, so the layer of scrutiny provided by rating agencies is missing. Many of these deals were mispriced: they priced like investment grade even though they had high-yield profiles,” said Harsh Agarwal, Head of Asia Credit Research at Deutsche Bank.

    That is now changing – at considerable cost for firms. Property firm Oxley Holdings, whose short-term debt dwarfs its cash balance, according to its latest accounts, saw yields on its bonds due 2019 SGOXHL1119= jump 220 basis points to 7.5 percent in the past quarter.

    And banks, under pressure to increase provisions for bad loans, are pulling back from indebted sectors like real estate, commodities and oil and gas, which dominate Singapore’s outstanding S$53 billion ($38 billion) of local currency corporate bonds.

    Non-performing loans have risen at all Singapore’s three banks in the latest quarterly results, reflecting a decline in loan quality across sectors.

    “In the absence of further bank support, refinancing this debt may prove difficult, potentially leading to more defaults over the next year,” said Devinda Paranathanthri at UBS Wealth Management, which estimates S$18 billion of local currency denominated bonds are coming due over the next 18 months. Over a quarter are from sectors facing structural headwinds.

    The latest sign of strain has been an increase in borrowers asking bondholders to cut them some slack. Ezra Holdings (EZRA.SI), Rickmers Maritime (RIMT.SI), Otto Marine OTTO.SI and Marco Polo Marine (MAPM.SI) are just some of the companies that sought bondholder consent this year to loosen the conditions, or covenants, attached to their loans.

    “It will continue to be busy, but the question is whether loosening covenants will be adequate to give these companies the lifeline that they need,” said Kevin Wong, Singapore-based partner with law firm Linklaters.

    “There is a risk these consent solicitations may lead to full-blown debt restructurings.”

    ($1 = 1.3943 Singapore dollars)

     

    Source: Reuters

  • Abdilar Zamzuri: Speaking English Is A Must For Service Staff

    Abdilar Zamzuri: Speaking English Is A Must For Service Staff

    At the payment counter…

    Me: Do you have a gift wrapping service?

    Cashier stares blankly at me

    Me: Do you have a gift wrapping service? (gestures wrapping an item)

    Cashier looks lost: Master or Nets?

    Me: Nets. Wrap present, where? Can speak English?

    Cashier: Huh.. No.

    Me turns to another staff: Do you have a gift wrapping service?

    Other Staff: Level 2, Customer Service Counter.

    I understand that we have a lot of foreigners working here but really, I don’t think I’m the only one who’s faced such a problem.

    Frontline officers need to be adequately trained to he prepared to handle simple queries. After all, they are the face of the company, not the management.

    It is incidents such as this that leaves a bad taste and a bad impression. A happy and joyous occasion can easily and quickly change to be one that is quite the opposite.

     

    Source: Abdilar Zamzuri

  • MOE And FAS Confirm Revamp Of Schools Competition

    MOE And FAS Confirm Revamp Of Schools Competition

    The Ministry of Education (MOE) and the Football Association of Singapore (FAS) have confirmed that the national ‘B’ division schools football competition will be revamped next year, with the proposed new tournament format allowing each school to play more matches.

    Under the current competition set-up, schools are divided into four groups in each of the four zones (North, South, East and West). The top two teams from each group progress to their respective zonal knockout stages, and teams that reach the zonal semi-finals also qualify for the national championships.

    Schools who fail to make it past the initial group stage however, will be eliminated. This means that most of the school teams play only five games a year on average, while the finalists get to play 18 games.

    However, TODAY understands that under the proposed new format, teams will be segregated into three divisions after the group stage.

    The top two teams in each group will qualify for the School Premier League 1 (SPL 1), while the third and fourth-placed teams will advance to the SPL 2. The remaining teams will be grouped in the School Zonal League (SZL).

    The 16 teams in SPL 1 and SPL 2 will then be divided into four groups. They will play home-and-away round-robin matches, with the winner of each group moving onto the semi-finals.

    Similarly, in the SZL, likely to be contested by eight schools, the teams will be divided into two groups of four. The top two in each group will advance to the semi-finals.

    These changes will see each team playing at least eight games each year. The finalists for the SPL 1 and 2 get to play 16 games in total, while the finalists in the SZL will play 10 games.

    The MOE and FAS, who will jointly organise next year’s competition, met with the participating schools last week to brief them about the proposed changes and gather feedback.

    “MOE and FAS will be co-organising the ‘B’ Division National School Games (NSG) Football tournament from 2017 to enhance the competition experiences for our students,” an MOE spokesperson told TODAY.

    “This collaboration will allow more schools to play more matches as part of the NSG, in support of students’ development.

    “MOE is currently working with FAS on the details of the competition, including the changes in the competition format. MOE will brief the participating schools when the details have been finalised.”

    An FAS spokesman added: “One of the key objectives of the proposed changes is to give our youth footballers more balanced and competitive matches, which will contribute to their development.

    “We are in the final stage of discussions, and an announcement will be made in due course.”

    The revamp is part of the FAS’ development plan for youth football, which was conceptualised and unveiled by technical director Michel Sablon earlier this year.

    The 68-year-old, widely recognised as the man who transformed Belgium into a footballing powerhouse, had then highlighted the need for school players to have more match experience, which he believes will go a long way to developing them into better footballers in future.

    TODAY understands that most schools were pleased with the proposed changes, although there are concerns that the additional matches will lead to a packed schedule, leaving little time for coaches to organise training sessions.

    A school teacher, who spoke on condition of anonymity, praised the new initiatives. “This is a positive move by the MOE and FAS because a lot of our players crave to play more matches,” he said.

    “But friendly games are logistically hard to arrange, so once the team is out of the competition, there is nothing to draw the students back to committing their time to training.

    “A longer season will also mean more game time for the team, which is important for the students if they are to develop into better players.”

    A school football coach, who also did not want to be named, added: “I’m glad this is being put in place. The only way for players to improve is to have more match experience.

    “It is especially crucial during their developmental years. This is when they start to progress from learning the basics of football to understanding things like tactics, positioning and awareness. All these traits are best honed during a match-setting.”

    TODAY also understands that the MOE is studying a proposal by the FAS to change the Primary School football competition to 8v8 or 9v9 matches instead of the current 11-aside format, while also ensuring that every team will get to play more matches

     

    Source: TODAY Online

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