Tag: merger

  • PropNex Merges With Dennis Wee Group To Form Singapore’s Largest Real Estate Agency

    PropNex Merges With Dennis Wee Group To Form Singapore’s Largest Real Estate Agency

    Real estate agency PropNex announced that it would merge with Dennis Wee Group, a move that it said would make it Singapore’s largest real estate agency.

    The agency said Monday morning (June 12) at a press conference that with PropNex’s 5,855 salespersons and Dennis Wee Group’s 1,071 salespersons, the total strength of the merged agency would be close to 7,000.

    This would edge it ahead of ERA, which had been the largest real estate agency here with 6,243 agents.

    Dennis Wee Group had been the sixth-largest group in Singapore before the merger, behind agencies such as Huttons, OrangeTee and Edmund Tie and Company.

    Mr Ismail Gafoor, chief executive of PropNex, said that the deal was inked only last Saturday after three days of intense negotiations.

    He noted that both brands were homegrown and had an emphasis on its people, adding he was amazed by Dennis Wee Group’s family-like culture.

    Mr Dennis Wee, chairman and founder of his namesake group, said that he was drawn to the merger as Mr Ismail had been the “most sincere” of Dennis Wee Group’s suitors.

    He said that the company had been pursued by several suitors since three years ago, and had offers to “double whatever PropNex was offering” just an hour before Monday morning’s press conference.

    Mr Wee emphasised that he was looking out for his real estate agents, many of whom have been with him for more than 15 years.

    He added: “We are both homegrown brands that have grown to be formidable forces in the real estate industry, and I believe PropNex Realty will provide greater opportunities and long-term growth for our salespersons with its proven track track record in the past 17 years.”

    Mr Ismail said that the companies have signed only a memorandum of understanding, and not a formal contract. There has not been a “dollar value” put to the merger, he added.

    He said that having spoken to many of Dennis Wee Group’s divisional leaders, he was certain that “80 to 90 per cent” of Dennis Wee Group’s agents will join PropNex.

    PropNex will be speaking to about 600 Dennis Wee Group agents this afternoon about the details of the transition.

    With the merger, Mr Wee will take on the role as PropNex Realty’s Senior Strategic Partner and his son Denka Wee will be a Strategic Partner. The transition is expected to be completed by the end of next month.

     

    Source: http://www.straitstimes.com/

  • JC Mergers: Equal Representation Of Staff In Merged JCs, Say Principals

    JC Mergers: Equal Representation Of Staff In Merged JCs, Say Principals

    Teaching staff in the junior colleges affected by the JC mergers will be equally represented in the merged JC, said principals of two JCs slated to merge in 2019.

    Earlier on Thursday (Apr 20), the Ministry of Education (MOE) announced that four pairs of JCs would merge in 2019. Staff in the affected JCs may go on to teach in the merged JC, or be redeployed – either to teach at primary or secondary schools, or to a posting at the ministry’s headquarters (HQ).

    But Innova JC principal Michael de Silva stressed that the merged JC will comprise staff from both JCs in “substantial numbers”. Innova JC (IJC) will form a merged pair with Yishun JC (YJC), with the site of the merged JC to be located at YJC.

    But in determining which staff will be redeployed, he added that there are some “structural issues” that need to be considered

    “This is multi-faceted,” he said. “It’s not so simple to say that we’ll take the best teacher because teachers have different strengths.”

    “Some teachers teach math, some don’t, and you can’t have a GP teacher that teaches math … so as in all teacher deployments, it begins with the students, and the courses and what they need. From there, we decide the teachers that will be put there,” Mr de Silva added.

    Nonetheless, he reiterated that his teachers will have a choice in the matter.

    “We will be having conversations with them on a one-to-one basis to find out what their preferences are,” he said. “But we will work with MOE on the deployment, taking their choices into account.”

    The same goes for staff at YJC. Its principal, Edelweis Neo, noted that before news of the merger broke, some teachers had already approached her indicating their interest in a different posting.

    “One teacher wants to do something else, like a stint in HQ, and a few told me they wanted to try going to secondary or primary schools,” she said. “So we’ll work with them; the majority will move on to the merged JC, and for those who want to try other posts, we will help them to achieve this.”

    QUESTIONS REMAIN: TEACHERS IN AFFECTED SCHOOLS                                                                

    Speaking to Channel NewsAsia on the condition of anonymity, some teachers in the various affected JCs said news of the merger did not come as a big surprise, citing persistent rumours that have been floating around for some time.

    But even after the news officially broke, questions still remain, according to a teacher in one of the affected schools.

    The teacher said that for some of the staff, issues like what was the criteria used to select the schools for merger, the conditions of the merger and how does the school decide who stays and who leaves were topmost on their minds. Others were concerned over what is going to happen to the merged school’s identity, and how it will affect the students.

    “There is a certain level of anxiety, sadness and discomfort, maybe a bit of vulnerability,” the teacher said.

    It will take some time for people to come to terms with the mergers and its implications, the teacher noted.

    A teacher in another JC said staff appear to be “re-evaluating their options”.

    “But there is always the concern that we will be redeployed to another school,” she said. “There’s already a surplus of JC teachers and now there will be even fewer JCs with the merger.”

    The teacher added that she enjoyed teaching her subject and the cognitive challenge of teaching it at the JC level.

    Another teacher, who has more than a decade of teaching experience, said it is likely that the teachers most “vulnerable” to being re-deployed are those in the mid-tier, with about eight to 12 years of experience.

    “We know very well that for example, some staff like the key personnel and heads of department will certainly stay, unless they prefer not to. So where does that leave the rest of us normal, ordinary teachers?”

    The teacher added that younger staff are likely to be more secure in their position, given their higher levels of energy and newer skills.

    The teacher added that if she ends up being re-deployed against her will, she will consider leaving the teaching service.

    “Even though teaching gives me this stability and security, it seems like the security is no longer there,” she said. “I think the real beneficiary will be the tuition industry.”

    BEST OF BOTH COLLEGES

    At IJC and YJC, effort has been put in to reassure staff and explain the rationale for the merger.

    IJC’s Mr de Silva said explaining the reasons for the merger is “the biggest challenge faced by the school at this moment”.

    He said: “Like the students, many staff would also have an emotional attachment to the place. But they understand the need for the change.

    “I called to their attention why we are teachers and why we joined teaching. At the end of the day, it’s about the education of students, not just the current cohort but also future cohorts. I think if one is a teacher – and we go to the heart of why we are a teacher – one would do the right thing via the students. And I think the teachers see it that way.”

    He added that communication channels will be kept open for staff and students, and the school will also be engaging parents and alumni.

    In terms of programmes and opportunities for students, the merged JC will also comprise the best of both colleges, with YJC’s Mrs Neo describing it as “an equal fusion of both JCs”.

    In the interim, plans are in the pipeline for both JCs to field joint sports teams for competitions, and hold a joint open house next year.

    “Next year’s batch of JC1s is shared between us and IJC,” she explained. “So even though IJC will not have a JC1 cohort next year, their JC2s can team up with our JC1s to field teams or go for competitions together.”

    “Michael (de Silva, IJC’s principal) and I already work very closely, and in fact we go back a long way to when we were in school division together. Our staff also work very closely with each other,” she added.

    “So I think we will have a good working relationship for this.”

     

    Rilek1Corner

    Source: http://www.channelnewsasia.com/

  • Reprint of The Battle For Merger Launched

    Reprint of The Battle For Merger Launched

    SINGAPORE: A reprint of the book The Battle For Merger – which contains a series of 12 radio talks written and given by former Prime Minister Lee Kuan Yew between Sep 13 and Oct 9, 1961 – was launched by the National Archives of Singapore on Thursday (Oct 9).

    Originally published in 1962, it gives a vivid account of the then ongoing political struggle over the merger. But while the context of the talks was merger, the key focus was to expose the communists – who they were, how they operated and what their real aims were in opposing merger.

    Present at the launch was Deputy Prime Minister and Home Affairs Minister Mr Teo Chee Hean, who said that the reprint comes as Singapore celebrates it’s 50th anniversary in 2015 – a significant milestone, especially as the country considers its “precarious and tumultuous beginnings”.

    He noted that today the events surrounding merger are no longer at the forefront of the minds of Singaporeans – with the younger generation, especially those born after 1965, having no personal memory of these events. Mr Teo said that he hopes the re-publication of the book will awaken the interest among younger Singaporeans to the events of this period of history, as well as provide a “reality check” to revisionist views.

    Mr Teo had pointed out that some revisionist writers have attempted to recast the role played by the communists and their supporters on the merger issue, portraying the fight as a peaceful and democratic disagreement over the type of merger – this while ignoring the more fundamental agenda of the communists to seize power by subversion and armed revolution.

    He said the spirit of pioneers to rise above hardships of the moment, including the threat of communism, and focus on making Singapore a better country for the next generation is an inspiration for all Singaporeans. “This spirit, epitomised in The Battle For Merger, is a precious heritage which we all as Singaporeans should honour, recognise and emulate,” added Mr Teo.

    Featuring photographs, newspaper articles and other artefacts, an exhibition is also being organised to accompany the re-launch of the book.

    Held at the National Library Building, the exhibition is open to the public from Oct 9 to Nov 30. It will then travel to public libraries including Jurong Regional Library and Ang Mo Kio Public Library.

    Source: http://www.channelnewsasia.com/news/singapore/reprint-of-the-battle-for/1405456.html

  • Pakatan Rakyat Wants Malaysia to Reunite With  Singapore

    Pakatan Rakyat Wants Malaysia to Reunite With Singapore

    UMNO

    SEREMBAN: Negeri Sembilan Menteri Besar Mohamad Hasan has alleged that Pakatan Rakyat intends to invite Singapore to rejoin Malaysia if it wins control of the Federal Government.

    Launching the Rembau Umno divisional meeting, he said: “I guarantee that three days after the opposition forms the Federal Government, it will have its first cabinet meeting, where the main agenda will be the reunion of Singapore with Malaysia.

    “This won’t need any amendment to the Federal Constitution. It needs only the approval of the Federal Cabinet, the way Tunku Abdul Rahman threw Singapore out.”

    He said one of the consequences of the reunion would be the addition of 89 seats to the Malaysian Parliament.

    “All those 89 seats would be non-Malay seats,” he added.

    “So before this happens, let’s work hard and ensure that Umno remains in power so that the dignity of the Malays is protected.”

    Source: http://www.freemalaysiatoday.com/category/nation/2014/08/26/pakatan-agenda-is-to-reunite-with-singapore/

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