MediaCorp’s Gaia Life Challenge has two new green ambassadors

MediaCorp’s Gaia Life Challenge has two new green ambassadors

By Hasnita A Majid,

SINGAPORE: A passionate environmentalist and a defence contractor have won this year’s MediaCorp’s Gaia Life Challenge.

The duo beat two other pairs of contestants to win the top prize which includes S$3,000 cash.

Spending time in their “temporary homes” under the full glare of the public has not been easy for the contestants, especially when it is warm in the cubicles even with the fans switched on.

But the contestants gamely endured the inconvenience to help raise environmental awareness.

They spent 24 hours in the transparent acrylic cubicles, coming out occasionally to face challenges that require them to answer questions and carry out activities on saving the environment.

They also went online to blog about their experiences.

For Jaclyn Ng and Jasbindeerjeet Singh, the experience has been worth it. They emerged winners after completing various challenges and collecting the most points.

Ng said: “The message is: no action is too small and no action is of course too large for everyone to do their part to save Gaia and try to think about your carbon footprint and tell yourself that if you can save here, it basically means that you can save Gaia.”

The pair won electrical goods such as an air-conditioner, an LCD TV, a fridge and a standing fan on top of the cash prize, which they will use to fund an initiative to promote projects on the use of renewable energy among schools.

This is MediaCorp’s second year at promoting the green message through such activity.

Shaun Seow, MediaCorp’s Deputy CEO (News, Radio, Print), said: “I think the interesting point about this year’s challenge is that there are a lot of games and through the games, the contestants have come to realise, for example, that turning on the aircon uses 100 watts (of electricity) compared to 30 watts in the case of a fan.

“This was apparent in the kinds of blogs that they were putting out, and through the online presence they are actually spreading the message to their friends and family.”

He added: “The response (to MediaCorp’s Gaia Life Challenge) was good, in the sense that many contestants (had) wanted to take part but we had to turn them away…

“Obviously, in this climate (amidst the H1N1 scare, all sorts of economic decline) it is quite difficult to make people understand the green message and we are glad that we are still trying to reinforce that we’ve got to save Gaia, Mother Earth.”

The winners will become the MediaCorp-Gaia Ambassadors for a year to help spread the message of going green.

- CNA/ir

Source : Channel NewsAsia - 29 June 2009

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145 new H1N1 cases raise total infected in Singapore to 599

145 new H1N1 cases raise total infected in Singapore to 599

SINGAPORE: Singapore confirmed 145 new cases of H1N1 on Sunday, bringing the tally to 599.

The Ministry of Health said that though the number of infected cases has increased, the severity of the disease remains relatively mild.

It has advised Singaporeans to carry on with their usual activities whilst observing good personal hygiene at all times.

In addition to these 145 new cases, 77 other cases were pending investigation on Saturday.

Of these 222 cases, 117 have been investigated. They comprise 94 local cases and 23 imported cases. The remaining 105 cases are still being investigated.

The 94 new local cases comprise 19 new cases in the Republic Polytechnic cluster, eight new cases in the Butter Factory cluster, two new cases in the Pulau Tekong cluster and one new case in the Maju Camp cluster.

In addition, there are three new clusters - one from Clementi Camp comprising 43 new cases and two previously unlinked case - one from Police Coast Guard (Brani Base) comprising three new cases and one previously unlinked case, and one from social party comprising one new case and three previously unlinked cases.

- CNA/ir

Source : Channel NewsAsia - 29 June 2009

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S’pore market to take cue from key US data

S’pore market to take cue from key US data

Most keenly watched will be jobs indicator as sign of economic momentum

By Alvin Foo, Markets Correspondent

THE Singapore market will take its main cue this week from key United States economic data as investors search for more clues on the pace of the global recovery.

Despite a holiday-shortened week in the US, a slew of economic indicators will be released this week.

The most keenly watched will be Thursday’s report on US unemployment and payrolls. These numbers are seen as key indicators of economic momentum, and could give investors leads regarding the timing and strength of a rebound from the crisis.

Investors will also be monitoring key manufacturing surveys in New York and Chicago, including the Institute for Supply Management index.

Market players will also pay attention to the European Central Bank (ECB) briefing on Thursday and its interest rate announcement. Analysts expect the ECB to keep interest rates at 1per cent and stress that rate hikes are still a long way off.

Last week, the US Federal Reserve calmed markets by not changing its near-zero interest rate policy and signalling it would keep its stimulus efforts on track.

World Bank chief economist Justin Lin, who was in town last week, said confidence in a sustained recovery would come only when a rally in financial markets converges with a similar rebound in the real economy.

Last week, the Dow Jones Industrial Average slumped 1.19per cent for the week to 8,438.39.

Generally, most investors have been coming out of hiberation and have been willing to take more risk.

Citigroup said in a global equity strategy report: ‘Investor risk appetite is returning. Over the last four months we have seen large outflows from traditional safe havens including money market funds. Much of this money has flowed into riskier credit and equity funds.’

It noted that the biggest flows within equities are into emerging markets. So far, inflows this year to emerging market equity funds have returned more than half of the outflows seen last year.

Back home, the benchmark Straits Times Index closed at 2,317.95 points last Friday, up 44.77 points, or 1.97per cent from the previous week.

However, trading volume continued to slump. Average daily volume last week was just 1.39billion shares valued at $1.28billion, compared with 1.86billion shares worth $1.49billion the week before.

Although the Singapore bourse appears to be in a consolidation phase as economic recovery seems tentative, market experts say more upside is possible.

Local stocks could also see mild gains from window dressing as the first half draws to a close tomorrow.

UBS analysts said it was ‘premature to judge that the rally is over’, ‘in the absence of negative data points’, such as ‘renewed growth weakness, rising inflation or withdrawal of policy easing’.

Kim Eng believes there will be ‘a more sustainable rally in the latter part of this year’ as more signs of green shoots emerge and the credit market loosens.

Source : Straits Times - 29 June 2009

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H1N1: Two schools to close for a week

H1N1: Two schools to close for a week

Home-based learning for students; local infections hit 599

By Jessica Jaganathan

TWO secondary schools have decided to close for a week after their teachers tested positive for the Influenza A (H1N1) virus on Saturday.

Presbyterian High School in Ang Mo Kio and Westwood Secondary School in Jurong West have asked their students to stay away and do home-based learning for this period.

Hai Sing Catholic School in Pasir Ris also has a teacher infected by H1N1 but the school has decided not to shut down.

All primary and secondary schools as well as junior colleges were supposed to reopen today after the month-long June school holidays but things have changed after three teachers were found to be infected with the virus over the weekend.

The two schools’ closure comes on a day that the country clocked its largest number of new H1N1 cases in a day. A fresh 145 were confirmed yesterday, with another 77 cases pending confirmation.

Singapore has now 599 confirmed cases. In a statement yesterday, the Ministry of Health said that ‘though the number of infected cases has increased, the severity of the disease remains relatively mild’.

Three new clusters of the spread were also reported yesterday at the Clementi army camp, the Police Coast Guard base in Brani and an unspecified social party.

Hai Sing decided not to close because the sick teacher, a trainee, had come into close contact with only six other colleagues. These six have been asked to go on leave till Thursday. The Education Ministry (MOE) said precautionary measures will be taken at Hai Sing, including temperature taking twice a day.

At Westwood, the sick teacher was at a school camp at Pulau Ubin from June 22-June 26. He also attended a workshop and a staff seminar last Thursday and Friday. In all, 74 staff and 58 students from the school had come in close contact with the teacher, prompting the school to delay opening.

At Presbyterian High, the teacher affected also had several meetings in the school over the course of last week. She had come into close contact with 70 of her colleagues. With so many teachers affected, the school also opted to close.

The MOE said in a statement last night that all students from Westwood and Presbyterian High will be provided with home-based learning lessons this week. Staff who were not in close contact with the infected teachers will return to the schools to help coordinate the operations for home-learning.

The schools will deliver materials for home-based learning to their students and monitor their progress via phone, e-mail and the schools’ learning management systems. Parents will also be informed of activities and study schedules. Teachers will give make-up lessons when students return.

Students taking their O-level Mother-Tongue oral examinations on Thursday and Friday will be able to take them at a later date, through arrangements with the Singapore Examinations and Assessment Board.

Another school, Republic Polytechnic, is the country’s biggest cluster of cases - 49 people there have fallen ill. Its first-year students have been told to stay away from its Woodlands campus and are on home-based learning as well.

Meanwhile, responding to a H1N1 cluster at the Police Coast Guard base in Brani, a police spokesman said continuity plans are in place to ensure key functions will not be compromised.

Source : Business Times - 29 June 2009

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Major forex players gear up for Invest Fair 2009

Major forex players gear up for Invest Fair 2009

By OH BOON PING

(SINGAPORE) Amid the growing popularity of foreign exchange (FX) trading, leading providers chasing a bigger slice of the cake will make their presence felt - in a big way - at Invest Fair 2009.

For instance, third-time participant CMC Markets is unfazed by the economic slowdown and has signed up for a ‘platinum’ booth of 36 square metres.

According to general manager Geoffrey Sawyer: ‘The market volatility underscores the importance of knowledge and skills to ensure traders capitalise on opportunities and challenges.

‘Invest Fair is an event that brings together those who are serious about trading and investing. CMC Markets believes the event provides a great platform for traders to access new information and products. Participants can also hear from the industry experts and gain a better understanding of the themes that will shape the market over the next year.’

Besides a line-up of interesting and educational seminars at the event, CMC Markets is offering new customers a Risk Free Trading Day - the trader can keep any profits, while CMC Markets will cover any losses, during a day of real trading.

‘Based on the significant increase in the number of subscribers who attended our forex-related seminars over the past six months, we believe the FX industry in Singapore will continue to grow at a fast pace.’

- Christopher Lee,
CEO of ShareInvestor

Another forex player at Invest Fair, to be held from Aug 22-23, will be Phillip Capital. Its director of business development (consumer services), Lisa Lee, says that retail players are looking for ways to ride the market volatility.

Christopher Lee, CEO of ShareInvestor, agrees. ‘Based on the significant increase in the number of subscribers who attended our forex-related seminars over the past six months, we believe the FX industry in Singapore will continue to grow at a fast pace.

‘Hence, we are very excited that all the major foreign exchange providers will make their presence felt at the fair as they seek to educate the public about their latest product offerings.’

The FX market is the world’s largest financial market, with average daily trade exceeding US$3.2 trillion.

Industry players expect the market to become even more popular. ‘We are seeing an increasing number of clients trade a multitude of asset classes including FX, shares, treasuries and commodities, all from one trading account and platform,’ says CMC’s Mr Sawyer.

‘The ability to easily access these markets at low or zero commissions - in the case of all our other products - only means we will see greater interest and therefore higher trade activity in asset classes such as FX.’

Phillip’s Ms Lee says: ‘Our new FX trading platform Phillip FX 365 has seen more than 100 per cent growth in users in a short time, as all the information traders require is available to investors on a single platform.’

However, it is important that investors find out more about the forex products before jumping on to the bandwagon, she says. ‘A good understanding on the workings of the product is essential before you start trading.’

Besides CMC Markets and PhillipCapital, other major FX providers such as City Index Asia, IG Markets, MF Global Singapore and Saxo Capital Markets will participate in Invest Fair 2009, which is jointly organised by ShareInvestor and The Business Times.

Source : Business Times - 29 June 2009

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Take two reveals a brighter property picture

Take two reveals a brighter property picture

Credit Suisse revises downward its initial estimates for a foreigner exodus

By UMA SHANKARI

(SINGAPORE) Credit Suisse, which predicted in January that an astonishing 200,000 foreigners and permanent residents (PRs) might leave Singapore in 2009 and 2010 on the back of job losses, now thinks that the exodus may not be as bad as it had expected.

Due to smaller-than-expected job losses and foreigner exodus, home prices could dip 25% in 2009 before recovering 10-15% in 2010.

- Credit Suisse’s Tricia Song

The evidence for this can be gleaned from the bank’s forecasts for the property market.

Based on its economists’ expectations of historically high job losses (up to 240,000) and an exodus of foreigners (up to 200,000) by the end of 2010, the firm’s property analyst Tricia Song had previously assumed that 15,000 homes could be vacated by 2011.

But in a report dated June 19, she says she now believes that just 3,000 private homes will be vacant from 2009 to 2011 as foreigners leave the country.

‘Anecdotally, we expect that the number of foreigners leaving Singapore will not be as high as we had expected,’ said Ms Song in the report.

This also means that private home prices will not be as badly hit as the firm predicted just six months ago. Credit Suisse had expected private home prices to fall by as much as 60 per cent from the peak to 2005 levels, partly because of the projected 200,000-foreigner exodus.

However, in part due to the smaller-than-expected job losses and foreigner exodus, Ms Song now says home prices could dip 25 per cent in 2009 before recovering 10-15 per cent in 2010.

The main cause for the change of view is a recent update by economist Cem Karacadag, who was part of the team that in January predicted that some 200,000 foreigners and PRs might leave Singapore in 2009 and 2010.

Credit Suisse said then that the potential drop in employment and population would have far-reaching implications for the economy.

But in a recent report, Mr Karacadag said job losses have not been as large as he had feared.

‘Singapore’s labour market has held up remarkably well in this recession and much better than we had anticipated,’ he said in a June 19 economics note.

Among various things, employers appear to have adjusted labour costs through salary cuts rather than cuts in headcount, he said.

Job losses so far this year have been surprisingly low against unprecedented job gains in 2007 and 2008, the note said. Net employment fell by only 6,200 in Q1 2009, although Singapore’s real GDP was 10 per cent lower in Q1 2009 compared to Q1 2008.

Mr Karacadag also upgraded his forecast for Singapore’s 2010 GDP growth to 4.4 per cent, from 3.9 per cent.

Source : Business Times - 29 June 2009

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Slide in top grade office rent slows: JLL

Slide in top grade office rent slows: JLL

Property consultants report a marked pick-up in leasing deals

By KALPANA RASHIWALA

(SINGAPORE) The average monthly prime Grade A office rental fell 11 per cent quarter on quarter to $9.50 per square foot (psf) in the second quarter, slower than the 28 per cent quarter-on-quarter slide in Q1 2009, according to property consulting group Jones Lang LaSalle (JLL).

Silver lining: With the shakeup, Singapore could become more cost-competitive and regain its attraction as a hub for global banks and MNCs
The latest drop translates to an overall slide of 48 per cent from the peak of $18.40 psf in Q3 last year.

The vacancy level of Grade A space rose to 6.1 per cent as at end-Q2 2009, up from 5.4 per cent at end-Q1 and 2 per cent at end-2008. JLL’s prime Grade A office basket covers the best properties in the Raffles Place area, and includes One Raffles Quay and One Marina Boulevard.

JLL expects office rents to continue falling for the rest of this year and into the middle of next year, albeit at a more moderated pace, as substantial physical supply and weak global demand continue to overshadow the market.

Property consultants point out that net demand remains in negative territory. And with around eight million square feet of new offices slated for completion between now and 2013, the office market isn’t out of the woods yet.

But the silver lining is that Singapore will become more cost-competitive and regain its attraction as a hub for global banks and MNCs when they stabilise their headcounts, says JLL’s head of markets, Singapore, Chris Archibold.

For now, the bright spot for the office market is a significant pick-up in leasing volumes lately. ‘There has been a marked increase in the volume of leasing and inspection enquiries recently. A significant number of these tenants are looking at remaining within the CBD core area,’ said Mr Archibold.

Said DTZ executive director (business space) Cheng Siow Ying: ‘At least now, corporates are more willing to talk about their future real estate needs. There’s recognition that a lot of good-quality office space is becoming available at competitive rents, presenting attractive leasing opportunities. Six months ago, most corporates were not even reviewing their space needs.’

CB Richard Ellis executive director (office services) Moray Armstrong, too, has seen a ’strong resurgence’ of leasing activity in the past couple of months. ‘But in truth, it’s not representative of positive office demand. Rather what we appear to be seeing is the welcome transition to a phase of greater stability, which is allowing occupiers to re-visit premises planning. For the most part, the tenants that are active are chasing lower cost and better value - in some cases by relocating to newer buildings at the fringe of the CBD,’ he added.

Giving some examples, Mr Armstrong noted that office developments such as 78 Shenton Way Tower 2 and Mapletree’s The Anson - both of which are completing in the next two to three months - are attracting keen interest.

According to JLL, lease renewals continue to dominate deals in the current market where occupiers have generally cancelled if not deferred their expansion plans.

‘While there has been more positive news of late, our domestic economic growth remains weak and this will likely continue to cast a shadow over the Singapore office property market over the next six to nine months,’ says JLL’s head of SEA research Chua Yang Liang.

Office leasing consultants say it’s too early to declare a recovery. Projections of negative office take-up this year range from 500,000 sq ft to 1.5 million sq ft. Demand is expected to fall short of new supply in the next few years.

And that’s not counting shadow space or excess space that companies try to sublet. In addition to some 400,000 sq ft of shadow space immediately available for occupation, JLL estimates there is a further 400,000 sq ft in the pipeline.

Summing things up, Mr Armstrong said: ‘We can’t really call a recovery in the office market until demand turns positive and vacancy rates reduce significantly. It’s hard to imagine that will occur in the next 12-18 months, but there is a stronger case for the market turning 2011 onwards.’

Source : Business Times - 29 June 2009

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