Singapore SIA disappointed over rejection by China Eastern shareholders

Singapore SIA disappointed over rejection by China Eastern shareholders
SINGAPORE : Singapore Airlines said on Tuesday it was “disappointed” after China Eastern shareholders rejected a deal which would have given SIA a substantial stake in the Chinese carrier.

“Singapore Airlines is disappointed that the proposed transaction involving an equity stake in China Eastern Airlines did not receive the required level of support from independent shareholders at today’s EGM (extraordinary general meeting),” SIA said in a statement.

However, it added it “will continue to support the building of a relationship with China Eastern, noting that the airlines are still mutually willing to develop the relationship”.

China Eastern chairman Li Fenghua told a gathering of shareholders in Shanghai that the deal had been voted down after more than 77 percent had cast their votes against the bid.

Singapore Airlines and investment company Temasek signed a preliminary deal in September to take a 24-percent stake in China Eastern for US$923 million, or HK$3.80 per share.

But China National Aviation Corp (CNAC), the parent of rival airline Air China, on Sunday promised at least HK$5.00 per share for a stake in the Shanghai-based carrier if China Eastern’s shareholders voted down the Singaporean deal.

SIA on Tuesday maintained that its offer represents a “full and fair value for the equity injection to recapitalise” China Eastern, and noted that it had been approved in accordance with relevant laws and regulations.

“The proposal is for a long-term strategic relationship with a willing partner,” SIA said.

“With board and management involvement by Singapore Airlines, the proposal brings international expertise to China Eastern, which will help the airline meet future challenges it will face in a competitive aviation environment in China.”

China Eastern chairman Li regretted that the deal had been voted down and suggested SIA was still in the running as a partner, while Air China was not.

“When it comes to introducing a strategic investor, we will not consider Air China…we still think Singapore Airlines is the best cooperation partner,” Li said in Shanghai.

“It’s not simply the price that I look at. It’s like if you don’t like her, no matter how big the dowry is, it wouldn’t work.”

Trading of SIA shares were suspended Tuesday afternoon at the airline’s request pending the outcome of the voting.

SIA shares last traded at S$16.70 each before the halt, up 18 cents or 1.1 percent from its close of S$16.52 on Monday. - AFP/ch

Source : Channel NewsAsia - 08 Jan 2008

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MM Lee does not see backlash against S’pore sovereign wealth funds

MM Lee does not see backlash against S’pore sovereign wealth funds

SINGAPORE: Minister Mentor Lee Kuan Yew has said he does not see a backlash against Singapore sovereign wealth funds.

He said that funds such as the Government of Singapore Investment Corp (GIC) and Temasek Holdings are relatively small and pose no threat.

The threat of taking over large chunks of the economy comes more from countries which will accumulate very big funds, said Mr Lee.

The Minister Mentor noted that China has reserves of US$1.3 trillion. “With oil at US$100 and if it carries on for 5 years, I think you are going to have Saudi Arabia and a few of the Gulf states with enormous resources,” he said.

“So, I think (for) the US Treasury, there is a reason why they have engaged GIC and Norwegian - I can’t remember the name of the Norwegian fund - for discussions to work out what we can recommend as enough disclosures to satisfy the countries we’re investing in (that) we don’t have a hidden agenda. And that shouldn’t be difficult,” Mr Lee added.

He was speaking during a question and answer session at the 40th anniversary celebrations of the Institute of Southeast Asian Studies in Singapore on Monday night.

GIC had recently bought a 9 percent stake in the Swiss bank UBS for nearly US$10 billion, while Temasek had injected about US$4.4 billion into Merrill Lynch, a US investment banking outfit.

Mr Lee was asked by a journalist from the London-based Financial Times if he was worried about Western backlash against sovereign wealth funds.

Responding, Mr Lee said: “Definitely your government welcomes all sovereign wealth funds, including the Chinese. So if you’re not afraid of the Chinese, with US$1.3 trillion (reserves), you wouldn’t be worried about Singapore, with its (reserves of) only over US$100 billion from GIC and another US$80 billion-US$90 billion from Temasek. So rest in peace, sleep well.” - CNA/ir

Source : Channel NewsAsia - 08 Jan 2008

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ASEAN members must work together or risk being sidelined: MM Lee-Singapore

ASEAN members must work together or risk being sidelined: MM Lee-Singapore

By Wong Siew Ying/Asha Popatlal

SINGAPORE : Minister Mentor Lee Kuan Yew said ASEAN had no choice but to get together in the next 40 years or risk being sidelined.

Mr Lee was speaking at a gala dinner on Monday to celebrate the 40th anniversary of the Institute of Southeast Asian Studies (ISEAS).

Mr Lee said ASEAN needed to band together in the face of stiff competition and globalisation.

He warned the grouping would face a different landscape in the next 40 years.

Some 700 guests, including those from the business and diplomatic community, as well as senior civil servants and academics, attended the event.

Mr Lee was also asked how ASEAN can weigh in on the Myanmar situation to ensure that things get better there in the next five to 10 years.

Mr Lee said he would leave it to the Foreign Affairs Ministry to sort it out.

“The members of ASEAN who could influence them, whose policies could influence them, would be Thailand, and beyond Thailand, would be China and India. The rest of us, we are a kind of background music, and I think we must recognise that because you are dealing with people with very fixated minds, quite convinced that they have the natural resources to weather any sanctions,” he said.

On the economic outlook, Mr Lee said the Singapore economy should do well.

He said he expected developments like the integrated resorts and the Formula One Grand Prix later this year to lift the economy.

And barring any accidents, he added that Singapore will be at a different level in five years.

If the good showing continues for another five years, Singapore then could be more like Italy or Austria.

But he cautioned that it needs to be done carefully.

Mr Lee said: “Just be grateful that we are where we are and be mindful that we consolidate what we have and don’t risk it. We are now at the table with a very large number of chips. We were able to risk many things when we had very few chips, but now we got chips, lets move cautiously.”

Mr Lee was also asked how some students are caught up with economic concerns and showed less appreciation for the environment.

“To lift people to a different level of living, a more cultivated way of life takes a very long time. I will not see it, maybe you will live long enough to see it, I wish you well.” - CNA/ch/de

Source : Channel NewsAsia - 08 Jan 2008

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Singapore MOE to spend S$1.59m to help schools ‘Teach Less, Learn More’

Singapore MOE to spend S$1.59m to help schools ‘Teach Less, Learn More’

By Julia Ng
SINGAPORE: The Education Ministry is spending S$1.59 million this year to help 100 schools ‘Teach Less, Learn More’ (TLLM).

It has come up with a new support package called “TLLM Ignite!” to fund School-Based Curriculum Innovations (SCIs), aimed at helping students learn better.

MOE said out of 196 applications for such innovations from schools, 106 innovations have been approved.

Each school will get S$15,000 in funding to help them implement the innovations for the next three years.

Some of these school innovations include customising or integrating their curriculum, adopting a differentiated instruction approach, and coming up with ways to facilitate inquiry- and problem-based learning.

To help teachers better engage their students in learning, the Ministry is sending out five copies of “PETALS: The Teacher’s Toolbox” to each school in Singapore by the middle of this month.

Packed into the toolbox are four components, including timeline charts, a resource CD and booklet.

MOE said it hopes the kit, which documents prototype schools’ experiences, will help schools share and catalyse good TLLM teaching practices

Source : Channel NewsAsia - 08 Jan 2008

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Singapore Hospital means testing should start off with generous criteria

Singapore Hospital means testing should start off with generous criteria

By Julia Ng

SINGAPORE: Determining the amount of subsidy for different patients is a big challenge, that is why for means testing to be successfully implemented, the screening process must be fair, inclusive, flexible and efficient, said a health economist.

For a start, Dr Phua Kai Hong, Associate Professor of Health Policy and Management at the Lee Kuan Yew School of Public Policy, recommended that the Health Ministry be more generous with the criteria.

According to Health Minister Khaw Boon Wan, the answers to questions such as which patient deserves government subsidy and how much he should get may soon depend on how much the patient earns, if he is working.

And if he is not employed, the subsidy would depend on the type of house he lives in.

Dr Phua said housing type is a good proxy of what the patient could afford to pay for a hospital stay. It is also administratively manageable at the point of admission.

So starting with housing type as the first check, the hospital only needs to move on to other screening criteria such as declared wages to the CPF Board or the IRAS.

Dr Phua said: “You just pick out the obvious cases which you think could be abusing the system, and then subject them to a more stringent process by getting them to give you more confidential data. That would be a deterrent to those people who are the true abusers.”

At the same time, he cautioned that even though the screening criteria must be stringent, it also needs to be flexible enough so as not to penalise Singaporeans who are asset-rich but cash poor.

“We have to err on the side of caution – everyone should be able to enjoy some level of benefits. Of course, the higher income will have to pay more. But if they choose to go to a C-class ward, I think we cannot deny them that privilege as tax payers, but they would have to pay more. We should be a bit more generous and as we go along, fine-tune it,” he said.

Dr Phua suggested that cut-off limits could be determined by conducting a healthcare consumption survey which can help the Health Ministry set accurate benchmarks.

He said: “I think once we have a bit more accurate information on household consumption for healthcare, we would have a more reliable indicator of how much people are prepared to spend. Currently we’re just relying on income as declared by individual patients, but most patients have household members who help to pay for the healthcare or they may have other supplementary income that is not declared.

“The information will allow you to be a bit more refined about the actual cut-off limits and the actual criteria. What we can do is to tap into other sources which will give more accurate information on wealth and income.”

One way to prevent patients from taking advantage of heavily-subsidised hospital services or from over-staying in cheap wards is to improve step-down care options such as nursing homes and community hospitals.

Dr Phua said: “If you look at the financing system, the 3Ms are geared towards encouraging people to be hospitalised. The Eldershield is hardly enough to pay for step-down care.”

The health economist said in the short term, means testing could result in limited cost-savings, and even a possible political backlash.

But in the longer term, means testing – done in an equitable, efficient and effective manner – will reap benefits with better allocated healthcare resources.
Source : Channel NewsAsia - 08 Jan 2008

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Novena Medical Center (10 Sinaran Drive) For Lease / Sale -08.01.2008

Novena Medical Center (10 Sinaran Drive) For Lease / Sale -08.01.2008

Most modern specialist clinics located above the Novena MRT station.
Direct link to TanTock Seng private wards
Look out for future hospital sites at irrawaddy Road

For Sales & Lease now!

Project — For Rent Novena Medical Center
Rooms — 8th to 11th floor
Land/build up — 357 -1012
Asking — $15 & above
Special –
Furnitures — Bare
Available –
Total units –
Unique Selling Point (USP) –

Project — For Sale Novena Medical Center
Rooms — 10th to 11th floor
Land/build up — 678 to 1012
Asking — $3900 psf
Special –
Furnitures — Bare
Available –
Total units –
Unique Selling Point (USP) –

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.

MINDY YONG

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Cashew Villas (3 storey terraces / Semi-D’s) For Lease -08.01.2008- Bukit Timah

Cashew Villas (3 storey terraces / Semi-D’s) For Lease -08.01.2008- Bukit Timah

68B Cashew Crescent
78 Cashew Rd
80 Cashew Rd

Project — Cashew Villas (3 storey terraces / Semi-D’s)
Rooms — 4+S+1
Land/build up — 3208 / 4402
Asking — $ 12,800
Special –
Furnitures — F / F
Available — Immediate
Total units — 4
Unique Selling Point (USP) — Corner Terrace, Designer renovation & furniture

Project — Cashew Villas (3 storey terraces / Semi-D’s)
Rooms — 4+S+1+RG
Land/build up — 3294 / 4456
Asking — $ 14,600
Special –
Furnitures — F / F
Available — Immediate
Total units –
Unique Selling Point (USP) — Semi-D, Designer renovation & furniture

Project — Cashew Villas (3 storey terraces / Semi-D’s)
Rooms — 4+S+1+RG
Land/build up — 3520 / 3541
Asking — $ 15,900
Special –
Furnitures — P / F
Available — Immediate
Total units –
Unique Selling Point (USP) — Semi-D

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.

MINDY YONG

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152 Shelford Rd For Lease -08.01.2008- Bukit Timah

152 Shelford Rd For Lease -08.01.2008- Bukit Timah

Project — Shelford Rd 152 Shelford Rd
Rooms — 3+1
Land/build up — 2263
Asking — $ 6,400
Special –
Furnitures — P / F
Available — Immediate
Total units — 3
Unique Selling Point (USP) — 2.5 storey Inter-terrace, 1 car porch, big grass back yard

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.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

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Hillcrest Rd (2 storey Corner Semi-D) For Lease -08.01.2008- Bukit Timah

Hillcrest Rd (2 storey Corner Semi-D) For Lease -08.01.2008- Bukit Timah

Project — Hillcrest Rd (2 storey Corner Semi-D) 54 Hillcrest Rd
Rooms — 4+1
Land/build up — 2831 / 2753
Asking — $14900nett
Special –
Furnitures — F / F
Available — Immediate
Total units — 1
Unique Selling Point (USP) — Corner Semi - D, Designer renovation & furnitures

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.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

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Greenwood Crescent (Semi-D/Bungalows) For Lease -08.01.2008- Bukit Timah

Greenwood Crescent (Semi-D/Bungalows) For Lease -08.01.2008- Bukit Timah

Near to Greenwood Avenue
Near to the British Club, German Club, Swiss Club, Hollandse Club,
27 Greenwood Crescent

Project — Greenwood Crescent (Semi-D/Bungalows)
Rooms — 7+2S+1
Land/build up — 4935 / 7503
Asking — $ 24,000
Special –
Furnitures — P / F
Available — Immediate
Total units — 6
Unique Selling Point (USP) — Semi -D, Indoor Jacuzzi

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.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

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Meadowlodge (31 Chun Tin Rd) For Lease -08.01.2008- Bukit Timah

Meadowlodge (31 Chun Tin Rd) For Lease -08.01.2008- Bukit Timah

Minutes walk to Bukit Timah Shopping Complex,Supermarket at King Albert Park.
Close to Canadian, Japanese, British, German school, United world college
Bus to Clementi, Buona Vista, CBD area
Facilities: Pools, gym, Children Playground, BBQ pits, putting green, outdoor fitness
Project — Meadowlodge (31 Chun Tin Rd)
Rooms — 4+1
Land/build up — 1410
Asking — $ 7,000
Special –
Furnitures — P / F
Available — Immediate
Total units — 28
Unique Selling Point (USP) — Facing pool

Project — Meadowlodge (31 Chun Tin Rd)
Rooms — 3+S+1
Land/build up — 1324
Asking — $ 6,700
Special — NEW!
Furnitures — P / F
Available — 4-Feb-08
Total units — 28
Unique Selling Point (USP) –

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.

MINDY YONG

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Chancery Grove 3 storey Townhouse For Lease -08.01.2008- Bukit Timah

Chancery Grove 3 storey Townhouse For Lease -08.01.2008- Bukit Timah

Chancery Grove (25-29 Chancery Lane) 3 storey Townhouse
Minutes walk to Novena MRT,
Near to Novena Square, Velocity, Square 2 & Chancery Court Supermarket.
Facilities: Pool, BBQ Pits and new gym.
27H, 27J, 29A

Project — Chancery Grove (25-29 Chancery Lane) 3 storey Townhouse
Rooms — 3
Land/build up — 2766
Asking — $ 13,300
Special –
Furnitures — P / F
Available — Immediate
Total units — 33
Unique Selling Point (USP) — Townhouse Roof wooden decked terrace, big master bdrm

Project — Chancery Grove (25-29 Chancery Lane) 3 storey Townhouse
Rooms — 3
Land/build up — 2896
Asking — $ 13,900
Special –
Furnitures — P / F
Available — Immediate
Total units — 33
Unique Selling Point (USP) — Townhouse Roof terrace, big master bdrm

Project — Chancery Grove (25-29 Chancery Lane) 3 storey Townhouse
Rooms — 3+basement
Land/build up — 2540
Asking — $ 12,700
Special –
Furnitures — P / F
Available — 1-Feb-08
Total units — 33
Unique Selling Point (USP) — Townhouse, Renovated kitchen, wardrobes, bathrm vanity

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.

MINDY YONG

( +65 ) 91002985

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Villa Azura (1,3 Cherry Avenue) For Lease -08.01.2008- Bukit Timah

Villa Azura (1,3 Cherry Avenue) For Lease -08.01.2008- Bukit Timah

Minutes walk to 6th Ave supermarket, proximity to Holland Village, turf city
Near to German school French School, Hollandse School,, Swiss Club, BritishClub
Facilities: Pool, wading pool, Jacuzzi, putting green, gym, Sauna, Multi-purpose room

Project — Villa Azura (1,3 Cherry Avenue)
Rooms — 2+1
Land/build up — 1636
Asking — $ 6,000
Special — NEW!
Furnitures — P/F
Available — 13-Feb-08
Total units — 7
Unique Selling Point (USP) — 2 storey maisonette with bedrooms downstairs

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.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

Tanglin View For Lease -08.01.2008 - Central

Tanglin View For Lease -08.01.2008 - Central

Tanglin View (150,152,156 Prince Charles Crescent)

Opposite Redhill MRT, public buses available to Central Business District.
Near to Tanglin Trust school
Full facilities (Award winning facilities)

Project — Tanglin View (150,152,156 Prince Charles Crescent)
Rooms — 3+1
Land/build up — 1249
Asking — $ 6,300
Special — Immediate
Furnitures — P / F
Available — 11-Feb-08
Total units — 26
Unique Selling Point (USP) –

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.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

Riverplace (60 Havelock Rd) For Lease -08.01.2008 - Central

Riverplace (60 Havelock Rd) For Lease -08.01.2008 - Central

Walking distance to Clarke Quay MRT station.
Proximity to Boat Quay and Clarke Quay restaurant and entertainment.
Minutes to Central Business District
Full Facilities

Project — Riverplace (60 Havelock Rd)
Rooms — 2+1
Land/build up — 1894
Asking — $ 11,600
Special –
Furnitures — P / F
Available — Immediate
Total units — 35
Unique Selling Point (USP) — Maisonette with out door jacuzzi

Project — Riverplace (60 Havelock Rd)
Rooms — 2+1
Land/build up — 1970
Asking — $ 13,000
Special –
Furnitures — P / F
Available — Immediate
Total units — 35
Unique Selling Point (USP) — Maisonette with out door jacuzzi

Project — Riverplace (60 Havelock Rd)
Rooms — 3+1
Land/build up — 2357
Asking — $ 13,000
Special –
Furnitures — P / F
Available — 2-Jan-08
Total units — 35
Unique Selling Point (USP) — Maisonette with out door jacuzzi

Project — Riverplace (60 Havelock Rd)
Rooms — 4+1
Land/build up — 2067
Asking — $ 12,700
Special — NEW
Furnitures — P / F
Available — 8-Feb-08
Total units — 35
Unique Selling Point (USP) — Single storey

Project — Riverplace (60 Havelock Rd)
Rooms — 4+1
Land/build up — 2067
Asking — $ 12,700
Special — NEW
Furnitures — P / F
Available — 26-Mar-08
Total units — 35
Unique Selling Point (USP) — Single storey

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.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com