Patients in B2, C class wards will be subsidised according to income -Singapore

Patients in B2, C class wards will be subsidised according to income -Singapore

By Hasnita A Majid, S Ramesh and May Wong
SINGAPORE: Health Minister Khaw Boon Wan has given an insight into the form means testing could take for patients admitted into Singapore hospitals.

This comes a week after Prime Minister Lee Hsien Loong revealed in his New Year’s Message that means testing in hospitals will be one of three top priorities for the government to address in 2008.

Speaking at a healthcare dialogue session on Monday, Mr Khaw listed out several criteria which could be looked at.

He said firstly, patients must be given the freedom to choose. Rich or poor, they can choose to be admitted to a subsidised ward.

Secondly, all patients in B2 and C class wards will be subsidised, but to different degrees. Higher-income patients will be subsidised less, compared to lower-income patients, but their bills will remain affordable.

Thirdly, given the acute nature of hospitalisation, there needs to be a simple way to make an assessment.

One is to base it on the patient’s individual ability and any assessment of his financial status should preferably be automated, based on wages declared to the Inland Revenue Authority or the CPF Board.

Mr Khaw gave the assurance that the Ministry of Health (MOH) will be sensitive to the circumstances of retirees and others who are not working.

If their housing type is used for assessing their eligibility, then the threshold may be deliberately set at a sufficiently high level.

The health minister also stressed that no patient should be denied treatment because he cannot afford it.

Mr Khaw said the bottom-line is to get higher-income patients to pay more, if they want to stay in subsidised wards.

55-year-old Munawar Ahamed is hospitalised in Changi General Hospital for a hip injury.

In a six-bedded B2 ward, he has to pay about S$1,335 for a seven-day stay, but he would have to pay S$3,000 more if he had chosen a B1 ward.

Mr Munawar earns about S$10,000 a month but the subsidy that he receives now is the same as everyone else in the same class ward.

Once means testing is implemented, he is likely to enjoy a lower subsidy as he earns relatively more than other patients in the B2 class ward.

Mr Khaw reiterated that the aim of means testing is to ensure that government subsidies are given to those who truly deserve it.

The MOH has been considering the issue for some time and will continue to discuss the implementation details with unionists, members of parliament and the public.

Mr Khaw said he is confident of finding a way which is fair to all and which does not impose unnecessary burden on patients.

He stressed that the majority of Singaporeans should continue to receive the same level of subsidies as they do today.
- CNA/so
Source : Channel NewsAsia  - 07 Jan 2008

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Singapore HDB forum suggestions benefit Kim Tian, Ghim Moh residents

Singapore HDB forum suggestions benefit Kim Tian, Ghim Moh residents

By Wong Siew Ying,

SINGAPORE: Residents in the Kim Tian and Ghim Moh areas are benefiting from recommendations from the Forum on HDB Heartware, aimed at giving people more say in the shaping of their neighbourhood.

The HDB has conducted a pilot project at a replacement site at Kim Tian Road to re-house residents in the Kampong Bahru and Henderson Road area, affected by the Selective En Bloc Redevelopment Scheme (SERS).

Lessees were consulted on the common facilities in their estates, through mail, internet and feedback sessions.

Some 500 households responded to the survey. 42 percent of them preferred the new precinct to be named Kim Tian Green, which has been approved.

A total of 83 percent of the respondents also supported the proposed locations for amenities like playground, activity court and garden.

HDB said 94 percent of the surveyed households agreed the consultation exercise was useful in promoting community bonding and ownership.

Separately, some residents at Ghim Moh will be the first to benefit from the enhancement of the Joint Selection Scheme under SERS.

Lessees of Blocks 9 to 12 and 9A to 12A will be allowed to select flats near their neighbours at the replacement site.
- CNA/so
Source : Channel NewsAsia  - 07 Jan 2008

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S’pore Airlines stands by offer for China Eastern

S’pore Airlines stands by offer for China Eastern
SIA jet (L) at Singapore’s Changi Airport and China Eastern Airlines plane sitting on the tarmac in Beijing
SINGAPORE: Singapore Airlines (SIA) stuck to its position Monday, saying its offer to invest in China Eastern Airlines (CEA) at HK$3.80 (45 US cents) a share is one that will bring long-term benefits to the Shanghai-based carrier.

SIA’s plans to acquire a stake in the struggling Chinese carrier face a potential setback when CEA minority shareholders meet on Tuesday to vote on the deal amid growing rumblings the offer price severely undervalues the company.

Air China’s parent firm, China National Aviation Corp. (Group) Limited, said on Sunday that it was ready to pay at least five Hong Kong dollars a share if CEA minority shareholders rejected SIA’s offer on Tuesday.

“The strategic partnership proposed by China Eastern, Singapore Airlines and Temasek is a long-term one,” said SIA spokesman Stephen Forshaw.

“It is not a financial trade. Its approval by CEA minority shareholders this week will, in our view, be positive for the prospects of China Eastern’s share prices. We stand by that proposal. Our position is very clear and we have been consistent on it.”

SIA and Singapore’s investment firm Temasek signed a preliminary agreement in September to take a combined 24 percent stake in China Eastern for US$923 million, or HK$3.80 a share.

The deal sparked intense jockeying over China Eastern’s fate, with Air China and its strategic partner, Hong Kong-based Cathay Pacific Airlines, subsequently making, and then withdrawing, a counter-offer.

The tussle reflects the intense competition for a piece of the China aviation market, particularly the lucrative Shanghai-Hong Kong routes plied by China Eastern.

Air China’s parent firm, which owns about 12 percent of China Eastern’s Hong Kong-listed shares, said it also plans to form a strategic partnership with China Eastern Airlines if the Singapore deal falls through.

The parent firm also said last week it intended to reject the Singaporean offer at Tuesday’s shareholders’ meeting if the bid, which it said undervalued the Chinese airline, was not improved.

- AFP/ir

Source : Channel NewsAsia  - 07 Jan 2008

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Tiger Airways and Jetstar start price war over Singapore-KL flights

Tiger Airways and Jetstar start price war over Singapore-KL flights

By Satish Cheney
SINGAPORE : Low-cost carriers Jetstar Asia and Tiger Airways will start operating flights between Singapore and Kuala Lumpur from 1 February.

And the price war has begun to promote this new route.

Budget carriers Jetstar and Tiger Airways start flying passengers from Singapore to Kuala Lumpur from the first of next month after a round of consultations between Singapore and Malaysia.

And these flights will be in addition to shuttle flights, operated for years now, by national carriers Singapore Airlines and Malaysia Airlines.

To kick off the new flights to KL, both Jetstar and Tiger Airways have come up with various promotions.

Tiger Airways is giving away 15,000 seats free when passengers book online from Monday, 7 January.

After that, travellers will have to fork out close to S$225 for a return ticket which is still lower than shuttle flights which cost about S$400 both ways.

As for Jetstar, it is offering seats from 88 Singapore cents since its promotion started on 5 January.

It is also offering a buy-one-get-one-free for bookings made from 9 to 11 January.

This extends to flights from 10 January to 3 February to all 14 cities in its network.

But when the promotion ends on 8 January, passengers will need to pay about S$200 for a return ticket.

As of Monday (7 January) though, accessing the Jetstar website was quite challenge.

And Jetstar admits that it is likely due to the high volume of traffic.

With such low fares, some expect coach operators to suffer a loss as passengers now have a choice of a faster and cheaper way to get to KL.

But coach operators are not too worried.

They say the effect will not be too big in the long run because taking a flight does not really cut down travelling time significantly.

J Kalaiyarasan, Director, Odyssey Prestige Coaches, says: “You must be two hours ahead of schedule at the airport and the flight duration is about 45 minutes to an hour for destinations like KL and Penang. The travelling time from KLIA to KL city would be around 45 minutes to an hour and is another additional cost for the customer.”

Luxury coach operators charge around S$100 for a return ticket and the journey lasts about 5 hours each way.

Some buses not only offer refreshments, you also get video on demand and free wi-fi services.

Malaysia’s low-cost carrier AirAsia has yet to reveal its prices for the Singapore-KL route but it may announce its strategy later this week.

AirAsia had previously said it can offer return tickets at S$130 for the 45-minute flight. - CNA/ch

Source : Channel NewsAsia  - 07 Jan 2008

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SPH spending S$82m to upgrade, expand Singapore Paragon

SPH spending S$82m to upgrade, expand Singapore Paragon

By Loh Kim Chin,

SINGAPORE: Singapore Press Holdings is spending a combined S$82 million to revamp Paragon shopping centre.

The newspaper publisher will spend S$45 million to update the facade of the building and increase retail space.

The renovation will increase the nett lettable area of the retail podium by 11,600 sq ft.

Another S$37 million will be spent to expand the office and medical space above the retail podium.

With the construction of two more floors, this will add another 29,000 sq ft to the mall.

The facelift, which starts this month, is expected to be completed by the end of the year.
- CNA/so
Source : Channel NewsAsia  - 07 Jan 2008

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CapitaLand to make general offer for Ascott Group - Singapore

CapitaLand to make general offer for Ascott Group - Singapore

By Loh Kim Chin
SINGAPORE : CapitaLand is planning a general offer for the Ascott Group.

However it has not given any details of the offer, which is due to be announced on Tuesday.

CapitaLand says the offer will be made through one of its units.

The property developer currently owns 66.5 percent of Ascott, which operates serviced residences.

Trading in the shares of CapitaLand and Ascott, as well as Ascott Residence Trust, were suspended pending the announcement on Tuesday morning.

Ascott is the largest serviced residence operator in Europe and Asia. - CNA/ch
Source : Channel NewsAsia  - 07 Jan 2008

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Investment bank UBS sees bright spots in global economy - Singapore

Investment bank UBS sees bright spots in global economy - Singapore

By Ng Baoying
SINGAPORE : Investment bank UBS is optimistic the global economy is not headed for a global recession this year.

But it says growth is likely to slow from last year and it has shaved its forecasts for US, Europe and Asia.

Despite the slowdown, the bank believes there are bright spots in 2008 where investors can park their funds. It recommends that investors avoid Asian exporters.

It says this is because the main issue across the world right now revolves around slowing US consumer demand. The effect of this will cut across major industries from technology to telecoms firms.

Instead, UBS suggests investors look at companies whose demand is largely derived from Asian economies.

Benjamin Yeo, Executive Director, Asia Corporate Research Head, UBS Wealth Management Research, says: “We’ll avoid Asian exporters. It cuts across major industries. Could be tech, telecoms, even consumer discretionary products.

“In place, we will focus more on Asian domestic names. In particular, we look at countries where a large percent of GDP comes from domestic demand. This includes countries like China, India, Indonesia.”

In the longer term, UBS says Asia is well-poised for rapid urbanisation and this makes infrastructure stocks alluring.

Mr Yeo says: “While we are seeing a global slowdown - that’s a transitional period. We believe, in Asia, we are seeing structural changes…

“I have two themes which we at UBS are interested in getting our clients into: increased affluence and rapid urbanisation in Asia. We think the two infrastructure themes can help in selecting stocks.”

UBS says the smart money will be on large companies rather than smaller cap firms.

Mr Yeo says: “In developed markets, we think big caps have underperformed and will regain performance vis a vis small caps. In Asia, on the other hand, the big caps have started to outperform since 12 to 18 months back. We think this outperformance will continue.”

As for the Singapore economy, UBS says it is healthy, with the tourism, services and property development sector keeping bad vibes at bay. - CNA/ch
Source : Channel NewsAsia  - 07 Jan 2008

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Singapore Office occupancy costs in Singapore continue to soar: DTZ

Singapore Office occupancy costs in Singapore continue to soar: DTZ

By Loh Kim Chin
SINGAPORE : Office occupancy costs in Singapore has doubled from a year ago to US$16,220 per workstation per annum, according to a survey by property consultant DTZ.

The result has catapulted Singapore’s ranking globally to the 13th position. In 2006, Singapore occupied the 55th spot.

The survey also found that Singapore recorded the second highest annual growth in occupancy costs per workstation after Moscow.

The DTZ survey uses workstation costs to better reflect the costs of accommodation.

137 business districts in 49 countries and territories were covered in DTZ’s latest annual Global Office Occupancy Costs Survey.

At the top of the table was London’s West End, which was also last year’s most expensive location. It registered an occupancy cost of US$31,160 per workstation per annum.

Hong Kong followed in second position at US$27,540 per workstation. London (City) was at third position with US$20,690 per workstation.

The survey found that workers across the 137 business districts had an average 162 square feet of working space.

The lack of available office space and soaring rents in some Asia Pacific locations prompted companies to reconfigure their office space to meet expansion needs.

As a result, there was a drop in space utilisation standards in these countries. - CNA/ch
Source : Channel NewsAsia  - 07 Jan 2008

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Yishun HDB Flat for Sales - 07.01.2008

Yishun HDB Flat for Sales - 07.01.2008

TYPE : [2]Rm [3]Rm [4]Rm [5]Rm [EA]Ex Apt [EM]Ex Mais [6]Rm

TNR=Tenure, DT=District, BDRM=Bedroom, AREA=Built-In, STR=Storey, Price $K=In Thousand

Price are subject to changes , please call (+65) 91002985 for lastest update
Type — 3N
District — 27
Estate — YISHUN, BLK 101 #03
Area — 732
Age –
Bedroom — 2
Psf — 225
PRICE$ — 165000
Type — 3N
District — 27
Estate — YISHUN, BLK 204 #10
Area — 721
Age — 20+
Bedroom — 2
Psf — 262
PRICE$ — 189000
Type — 4
District — 27
Estate — SEMBAWANG DR, BLK 478 #06
Area — 978
Age –
Bedroom — 3
Psf — 271
PRICE$ — 265000
Type — 4
District — 27
Estate — YISHUN, BLK 135 #04
Area — 978
Age — 21+
Bedroom — 3
Psf — 240
PRICE$ — 235000
Type — 4A
District — 27
Estate — YISHUN, BLK 249 #12
Area — 1130
Age — 18+
Bedroom — 3
Psf — 232
PRICE$ — 262000
Type — 4A
District — 27
Estate — YISHUN, BLK 330 #11
Area — 1162
Age — 11
Bedroom — 3
Psf — 237
PRICE$ — 275000
Type — 4A
District — 27
Estate — YISHUN, BLK 617 #06
Area — 1130
Age –
Bedroom — 3
Psf — 252
PRICE$ — 285000
Type — 4A
District — 27
Estate — YISHUN, BLK 860 #06
Area — 1119
Age –
Bedroom — 3
Psf — 286
PRICE$ — 320000
Type — 4N
District — 27
Estate — YISHUN, BLK 230 #04
Area — 1001
Age –
Bedroom — 3
Psf — 236
PRICE$ — 236000
Type — 4S
District — 27
Estate — YISHUN, BLK 167 #11
Area — 904
Age — 15+
Bedroom — 3
Psf — 0
PRICE$ — 0
Type — 4S
District — 27
Estate — YISHUN, BLK 639 #03
Area — 904
Age — 13
Bedroom — 3
Psf — 228
PRICE$ — 206000
Type — 4S
District — 27
Estate — YISHUN, BLK 726 #11
Area — 904
Age — 22
Bedroom — 3
Psf — 0
PRICE$ — 0
Type — 5
District — 27
Estate — SEMBAWANG CL, BLK 339B #02
Area — 1184
Age — 4
Bedroom — 3
Psf — 0
PRICE$ — 0
Type — 5
District — 27
Estate — YISHUN, BLK 871 #02
Area — 0
Age — 10
Bedroom — 3
Psf — null
PRICE$ — 0
Type — 5I
District — 27
Estate — ADMIRALTY LINK, BLK 484 #13
Area — 1193
Age –
Bedroom — 4
Psf — 256
PRICE$ — 305000
Type — 5I
District — 27
Estate — ADMIRALTY LINK, BLK 492 #15
Area — 1184
Age — 5
Bedroom — 3
Psf — 270
PRICE$ — 320000
Type — 5I
District — 27
Estate — WELLINGTON CIRCLE, BLK 501B #05
Area — 1193
Age — 05+
Bedroom — 3
Psf — 247
PRICE$ — 295000
Type — 5I
District — 27
Estate — YISHUN, BLK 620 #07
Area — 1301
Age –
Bedroom — 3
Psf — 0
PRICE$ — 0
Type — 5I
District — 27
Estate — YISHUN, BLK 666A #02
Area — 1301
Age — 20
Bedroom — 3
Psf — 246
PRICE$ — 320000
Type — 5I
District — 27
Estate — YISHUN, BLK 798 #02
Area — 1323
Age — 12
Bedroom — 3
Psf — 287
PRICE$ — 380000
Type — 5I
District — 27
Estate — YISHUN, BLK 865 #08
Area — 1312
Age — 20
Bedroom — 3
Psf — 271
PRICE$ — 355000
Type — EA
District — 27
Estate — ADMIRALTY DR, BLK 468C #15
Area — 1500
Age — 7
Bedroom — 2
Psf — 367
PRICE$ — 550000
Type — EA
District — 27
Estate — SEMBAWANG CL, BLK 341 #13
Area — 1408
Age — 05+
Bedroom — 2
Psf — 0
PRICE$ — 0
Type — EA
District — 27
Estate — YISHUN, BLK 324 #08
Area — 1400
Age –
Bedroom — 4
Psf — 357
PRICE$ — 500000
Type — EM
District — 27
Estate — YISHUN, BLK 352 #06
Area — 1600
Age — 21
Bedroom — 3
Psf — 241
PRICE$ — 385000

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property

Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

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Woodlands HDB Flat for Sales - 07.01.2008

Woodlands HDB Flat for Sales - 07.01.2008

TYPE : [2]Rm [3]Rm [4]Rm [5]Rm [EA]Ex Apt [EM]Ex Mais [6]Rm

TNR=Tenure, DT=District, BDRM=Bedroom, AREA=Built-In, STR=Storey, Price $K=In Thousand

Price are subject to changes , please call (+65) 91002985 for lastest update

Type — 3A
District — 25
Estate — WOODLANDS, BLK 152 #10
Area — 785
Age –
Bedroom — 2
Psf — 242
PRICE$ — 190000
Type — 3N
District — 25
Estate — WOODLANDS, BLK 146 #02
Area — 732
Age — 22
Bedroom — 2
Psf — 232
PRICE$ — 170000
Type — 4
District — 25
Estate — WOODLANDS, BLK 624B #10
Area — 1076
Age — 9
Bedroom — 3
Psf — 243
PRICE$ — 261000
Type — 4
District — 25
Estate — WOODLANDS, BLK 683A #10
Area — 1119
Age — 8
Bedroom — 3
Psf — 252
PRICE$ — 282000
Type — 4
District — 25
Estate — WOODLANDS, BLK 716 #10
Area — 1097
Age — 10
Bedroom — 2
Psf — 246
PRICE$ — 270000
Type — 4
District — 25
Estate — WOODLANDS, BLK 793 #12
Area — 1076
Age — 6+
Bedroom — 3
Psf — 279
PRICE$ — 300000
Type — 4A
District — 25
Estate — WOODLANDS, BLK 510 #09
Area — 1151
Age –
Bedroom — 3
Psf — 278
PRICE$ — 320000
Type — 4I
District — 25
Estate — MARSILING DR, BLK 7 #08
Area — 968
Age –
Bedroom — 3
Psf — 212
PRICE$ — 205000
Type — 4S
District — 25
Estate — WOODLANDS, BLK 348 #11
Area — 904
Age –
Bedroom — 3
Psf — 0
PRICE$ — 0
Type — 4S
District — 25
Estate — WOODLANDS, BLK 842 #04
Area — 0
Age –
Bedroom — 3
Psf — null
PRICE$ — 178000
Type — 5
District — 25
Estate — WOODLANDS, BLK 687B #04
Area — 1237
Age — 5
Bedroom — 3
Psf — 283
PRICE$ — 350000
Type — 5
District — 25
Estate — WOODLANDS, BLK 688F #14
Area — 1184
Age –
Bedroom — 3
Psf — 294
PRICE$ — 348000
Type — 5
District — 25
Estate — WOODLANDS, BLK 690D #09
Area — 1184
Age — 5
Bedroom — 3
Psf — 300
PRICE$ — 355000
Type — 5
District — 25
Estate — WOODLANDS, BLK 878 #11
Area — 0
Age –
Bedroom — 3
Psf — null
PRICE$ — 330000
Type — 5A
District — 25
Estate — WOODLANDS, BLK 304 #02
Area — 1419
Age –
Bedroom — 3
Psf — 352
PRICE$ — 500000
Type — 5I
District — 25
Estate — WOODLANDS, BLK 622 #02
Area — 1301
Age — 09+
Bedroom — 3
Psf — 0
PRICE$ — 0
Type — 5I
District — 25
Estate — WOODLANDS, BLK 622 #02
Area — 1301
Age — 9
Bedroom — 3
Psf — 0
PRICE$ — 0
Type — 5I
District — 25
Estate — WOODLANDS, BLK 623 #09
Area — 1291
Age — 18
Bedroom — 3
Psf — 211
PRICE$ — 272000
Type — 5I
District — 25
Estate — WOODLANDS, BLK 727 #11
Area — 1312
Age — 11
Bedroom — 3
Psf — 244
PRICE$ — 320000
Type — 5I
District — 25
Estate — WOODLANDS, BLK 748 #11
Area — 1323
Age — 7
Bedroom — 3
Psf — 295
PRICE$ — 390000
Type — 5I
District — 25
Estate — WOODLANDS, BLK 762 #08
Area — 1312
Age –
Bedroom — 3
Psf — 244
PRICE$ — 320000
Type — 5I
District — 25
Estate — WOODLANDS, BLK 859 #07
Area — 1356
Age — 9
Bedroom — 3
Psf — 0
PRICE$ — 0
Type — 6
District — 25
Estate — MARSILING DR, BLK 115 #05
Area — 1786
Age –
Bedroom — 4
Psf — 0
PRICE$ — 0
Type — 6
District — 25
Estate — WOODLANDS, BLK 322 #13
Area — 1849
Age — 13
Bedroom — 3
Psf — 222
PRICE$ — 410000
Type — 6
District — 25
Estate — WOODLANDS, BLK 412 #05
Area — 1905
Age — 10+
Bedroom — 4
Psf — 0
PRICE$ — 0
Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property

Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

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Singapore Companies need to offer more flexibility to attract employees

Singapore Companies need to offer more flexibility to attract employees

By Pamela Almeda
SINGAPORE : Companies in Singapore may have to offer more flexibility in order to attract and retain their employees.

According to human resources consultant, Michael Page International, employers will increasingly need to consider a total package. And this includes elements such as compensation, benefits and flexibility.

Employees these days are not only attracted by monetary rewards for their work but are looking to carve a promising career.

Michael Page International believes companies can benefit from the changing employment trends if they offer a more holistic and attractive package to retain talent.

Beyond the obvious money issue, companies should also chart their employees’ training, personal development and career growth.

Florence Ng, MD - Singapore, Michael Page International, says: “Someone could say to you, ‘today, I’m a manager but in two years’ time or three years’ time I want to be a director. Now how do you get this person from being a manager to a director? It also means you have to provide a sensible and a comprehensive learning and development structure so that you can actually get them from point A to point B.”

But Michael Page also points out that financial rewards remain an important strategy in attracting and retaining the right talent.

It says employees who are generally satisfied with their pay cheques and other benefits tend to have higher productivity and help companies raise their bottomlines.

But such a reward scheme must be easily understood, consistent across all business units and, above all, be based on merit and performance.

Ms Ng says: “To get high achievers, to encourage performance, and to encourage meritocracy, you need to move towards one where you know a bigger portion of the total comps (compensation) is pegged to performance. In other words, pay them a lesser base but a much higher potential if they achieve, (or) if they over achieve their targets.”

But experts also point to what appears to be a developing trend when economies are booming. Companies may choose to out-bid their rivals as they compete for talent, possibly to the extent of having wages out-strip productivity.

Ms Ng says: “I think that a price-determined war for talent is going to end in tears for all at the end of the day because it would just keep going up. How much is enough? So I think that the best way to keep your people if you were the employer would be to focus on the reward scheme, the financial rewards scheme but let’s not forget to factor in the learning and development.”

Going forward, experts say companies will need to be more flexible in their remuneration strategies.

One key area to consider is to stagger the payment of bonuses throughout a financial year. For example, instead of paying bonuses once a year, firms could spread them out and have a payout every six months or every quarter.

Consultants say this is one strategy to reduce the possibility of employees leaving in large numbers at the same time, thereby affecting a company’s operations. - CNA/ch

Source : Channel NewsAsia  - 07 Jan 2008

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Discovered: How bird flu virus that infects humans

Discovered: How bird flu virus that infects humans

PARIS - SCIENTISTS said yesterday they had figured out how influenza viruses carried by birds latch on to humans.

The discovery may open the way to a vaccine against not just the deadly bird flu, but also against all types of flu.

The new findings, published in the British journal Nature, overhaul scientific understanding of how viruses attach themselves to cells inside human lungs.

Researchers have long known that whether an influenza strain infects humans depends on the ability of a protein on the surface of the virus, called hemagglutinin, to bind to a sugar receptor in the respiratory tract.

But the study, led by Massachusetts Institute of Technology professor Ram Sasisekharan, says that the big factor is the shape of the sugar receptors in human lung cells, rather than a genetic switch in the virus, that affects the virus’ ability to infect humans.

‘This work enables researchers to look at flu viruses in an entirely new way,’ said Mr Jeremy Berg, director of the National Institute for General Medical Sciences, which funded the research.

At the very least, the new discovery will help scientists rapidly identify strains that may develop the capacity to attack human respiratory systems.

‘Now that we know what we are looking for, this could help us not only monitor the bird flu virus, but also aid in the development of potentially improved therapeutic interventions for both avian and seasonal flu,’ said Prof Sasisekharan.

There are many strains of flu virus, but only a few have succeeded in crossing the species barrier from animals to humans.

The H5 strain, which usually remains confined to birds, is often lethal when it infects humans.

Of 348 confirmed cases of H5N1 avian flu in the past five years, 216 victims - more than 60 per cent - have died as a result, according to the World Health Organisation.

What health officials fear most is the emergence of a new H5 strain that could easily ‘jump’ from birds to humans, or humans to humans, potentially unleashing a pandemic on the scale of the ‘Spanish flu’ of 1918 that killed tens of millions of people.

AGENCE FRANCE-PRESSE
Source : Straits Times  - 07 Jan 2008

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Is a coming US recession fully priced in yet?

Is a coming US recession fully priced in yet?

By R SIVANITHY
SENIOR CORRESPONDENT
BY NOW, you’d have to wonder whether an aggressive cutting of US interest rates really is the answer or, instead of inflating yet more bubbles, perhaps the best medicine for an ailing US economy is to simply let its excesses and imbalances correct themselves, lengthy though the process may be.
But financial markets, like funds managers, are typically short-sighted when it comes to suffering pain. So for now, the pressure is on the US Federal Reserve to cut its Fed funds rate by 50 points at the Jan 30 Open Market Committee meeting - after Friday’s rout on Wall Street, the futures market has priced in a 60 per cent probability of this occurring.

You’d have to wonder if this would really be of any help - given that though rates have already been lowered by 75 points in the fourth quarter, markets have not recovered.

You’d then have to wonder whether it’s the economy that comes first for the Fed, or the stock market. Though this is an election year, propping up both must surely be priorities because there’s nothing like those large plus signs next to the major indicators and indices to inject confidence into the population, even if it is misplaced.

Speaking of which, you’d have to conclude that the large plus signs next to the Straits Times Index in 2007’s final fortnight were, most probably, the result of a combination of window-dressing and the ‘buy in anticipation of window-dressing’ which we suggested would take place in this column a fortnight ago.

Readers might also recall that the full suggestion made back then was to buy in anticipation the large index blue chips such as SingTel, the banks, SGX and Keppel, but to quickly sell into strength because the likelihood of a rally heading into the new year was slim.

In other words, the best bet for the time being is to trade the market, buying selectively into dips but selling as quickly as possible into strength.

It goes without saying that the same strategy should apply for at least the next two weeks - at least until the days leading up to the Jan 30 FOMC meeting when another ‘buy in anticipation, sell on news or into strength’ window presents itself.

One main reason for this is that by now, 50-75 basis point interest-rate cuts during the first six months of 2008 must surely already be factored into the prices. Markets have for a long time been clamouring for aggressive cuts and, as stated earlier, this being a US election year, it’s difficult to see the Fed resisting. So even though there will be interest rate-led bounces before and after each FOMC, it’s likely they will not last long.

The second reason is an extended recoupling with Wall Street, or rather no sign of any decoupling as some analysts had predicted. Linked by program trades, all markets in this part of the world have shown an increasing - not decreasing - dependency on the US for direction over the past six months. And there’s no reason to expect any change soon.

Recoupling is, in fact, very much a theme in Morgan Stanley’s Critical Macro Investment Themes report dated Jan 3, written by its chief economist Richard Berner.

‘Although it has yet to begin, our call for a mild US recession is intact: we expect domestic demand to contract significantly in each of the next three quarters, essentially no growth in overall GDP for the year ending 3Q 2008 and earnings to contract by 5-10 per cent over that period… global recoupling may well be a dominant theme this year,’ wrote Mr Berner who, unlike most other analysts, believes the US dollar will strengthen in 2008.

One problem is that Wall Street may not have fully priced in the risk to earnings brought on by the coming slowdown - and other markets are still overly complacent about their own impending slowdowns and earnings forecasts.

Still, the volatility that is very likely to result from all this uncertainty will create plenty of trading opportunities (structured warrant issuers, whose instruments thrive in volatile markets, must be rubbing their hands in glee) for those with the stomach for heightened risk.

The upshot of all this is that all markets will be stuck in a trading range for a while. There is no decoupling from Wall Street yet on the horizon, even as technical factors like supports and resistances rise in importance.

The strong likelihood of a coming US slowdown is not yet factored in local prices - and investors should take overly bullish calls to keep buying with a healthy dose of salt.

Source : Business Times  - 07 Jan 2008

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More golf technology introduced in Asia as popularity of sport grows-Singapore

More golf technology introduced in Asia as popularity of sport grows-Singapore

By Patwant Singh,

SINGAPORE: Playing better golf is not always about practice and skill – it is increasingly about the technology available to correct your game.

A new system, said to be the first in the world, can help to correct a golfer’s swing.

Mal Tongue, founder of Cymicon System, said: “We are the world’s first. We have developed a system that allows us to teach people in a totally unique way with three cameras and digital animation.”

Unlike other golf softwares that are already available in the market, Cymicon claims that its system analyses your swing and helps you to improve.

This is done by talking and guiding players through, with clear animation and instant feedback. The developers also claim that the system can be customised.

It is developed in New Zealand, but Singapore is where the product has been launched for the Asian market.

Jonathan Woodhams, managing director of Cymicon System, said: “In the last 20 years, golf has seen improvements in clubs and balls, but not in the golf coaching. We are using Cymicon module, we are able to bring in new methodologies and a new era to golf culture.”

Another gadget used to help golfers is one that is being tried out at the Sentosa golf course.

Using wi-fi technology, the system provides a list of vital information to a golfer, on what is likely to be the biggest screen possible, in a buggy.

Glen Goh, GPSi Representative, said: “First of all, it gives the layout of the hole instantly. It tells you whether the hole is straight or dog leg, and then it gives you the actual distances to the hazards and areas that a golfer is concerned about, so the golfer can make better decisions and if he makes better decisions, he shoots a better score.”

The screen also allows you to get the latest sports scores and even order refreshments while on the course.

“Our system is designed to assist golf courses to make more profits. There is a whole menu of revenue-producing features for the golf club to adopt,” said Goh.

During competitions, the screen can display an automated scoring system, so all golfers can keep track of one another’s scores live.
Source : Channel NewsAsia  - 07 Jan 2008

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Mindy Yong

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For Sale Singapore Apartment / Condo, District 01-28 , 07.01.2008