|
Back
 x 0
 x 0
|
By AFP, Updated: 11/06/2011
Singapore to overtake Vegas this year: US gaming head
Singapore is set to overtake Las Vegas as the world's second-largest gambling hub this year, a US gaming industry head said Tuesday, as Asia cements its place as a major betting market.
Singapore to overtake Vegas this year: US gaming head
Singapore has emerged as Asia's hottest new gambling destination with a revamped cityscape and billions of dollars pouring into the economy, after the opening of two resort casinos in 2010.
The strong growth came after Macau overtook the Las Vegas Strip as the world's biggest gaming hub in 2006 and now boasts a gaming market almost four times as large as that of Vegas, thanks to burgeoning numbers of wealthy Asians.
The two resort casinos in Singapore posted $5.1 billion in gaming revenues in 2010, a figure forecast to rise to $6.4 billion this year, according to Frank Fahrenkopf, president of the American Gaming Association.
A report citing research by the Royal Bank of Scotland has suggested Las Vegas will take $6.2 billion this year.
" Now more than a year old, the two integrated resorts in Singapore have exceeded all expectations and turned the nation into Asia's second global gaming superpower," said Fahrenkopf.
" The country's gaming market will likely overtake Las Vegas as the world's second-largest gaming centre as early as this year," he told a news conference on the sidelines of the Global Gaming Expo Asia, which opened Tuesday in Macau.
The first Singapore casino opened in Malaysian-controlled Resorts World Sentosa in February 2010, with US-based Las Vegas Sands following two months later as the world economy was still clawing itself out of recession.
Asia's strong growth in the gaming industry stands in sharp contrast to US venues such as the Las Vegas Strip, previously a byword for gambling but which is now suffering the effects of the global downturn.
The Sahara, an iconic Las Vegas hotel that once hosted names such as Elvis Presley, Jerry Lewis, Frank Sinatra and the Beatles, closed its doors last month, even as many Asian casinos are planning expansions.
Fahrenkopf said the potential in other Asian countries would also help spur growth, with several multi-billion dollar casino development projects due for completion over the next two years.
" Other developments in Asia are helping to clearly establish the region as the hottest gaming market in the world," he said, noting the sector is expanding at record levels in Cambodia and Laos, while Sri Lanka is set to implement legal gambling next year.
He said the rapid growth in Singapore would not threaten Macau's position, saying the former Portuguese colony has seen " dramatic growth in almost every measurable category" , after it opened its doors to foreign competition.
But he urged Macau to deal with labour shortage and infrastructure issues, as well as a cap of 5,500 gaming tables allowed before 2013, which could dampen growth.
Macau's gaming scene was monopolised by tycoon Stanley Ho for decades until it opened to foreign competition in 2002. Since then, a stream of Las Vegas-based gaming companies have flooded into the southern Chinese city.
Gambling revenue in Macau, the only place in China where casinos are legal, surged to a new record in May with a 42 percent jump year-on-year at 24.31 billion patacas ($3 billion) -- a record high for the fourth month in a row.
" Macau should continue to benefit from strong momentum after the successful opening of Galaxy Macau casino, which is driving visitations," JP Morgan said in reference to the city's newest resort casino, according to Dow Jones Newswires.
ly/mtp
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Channel NewsAsia, Updated: 16/06/2011
S’poreans donate S$250,000 to help teen who lost legs in MRT accident
Nitcharee Peneakchanasak all smiles at the airport.
SINGAPORE : Thai teenager Nitcharee Peneakchanasak, who lost both her legs after falling onto the MRT tracks in Ang Mo Kio two months ago, will be getting a sum of S$250,000 for her medical rehabilitation expenses.
The sum of money has been contributed by a group of anonymous Singaporean donors.
Nitcharee, who returned to Thailand on Monday, has plans to walk again with prosthetic legs, which are expected to cost around S$150,000.
A Singapore Red Cross statement said that a cheque for the S$250,000 will be presented by Singapore Red Cross (SRC) chairman Tee Tua Ba to Princess Maha Chakri Sirindhorn, executive vice—president of the Thai Red Cross Society, in Bangkok on Thursday.
Meanwhile, a Singaporean living in Hong Kong wants to settle Nitcharee’s hospital bills in full.
The man, who wants to remain anonymous, learnt of her plight from a Channel NewsAsia report on Monday. After watching the story on the channel, the benefactor made contact with Channel NewsAsia’s Hong Kong bureau to find out how he could help pay her bills.
One of Nitcharee’s legs was severed when the train hit her, and the other was so badly damaged that it had to be amputated.
Nitcharee had been in Singapore for about a month before the incident, learning English at a private school.
She had stayed with a family friend in Ang Mo Kio.
On the day of her departure, a smiling Nitcharee was able to wheel herself into the Budget Terminal in an electric wheelchair, a gift from the Rotary E—Club of Singapore.
Strangers at the airport’s departure hall posed for photographs with her, and some gave small gifts and donations.
Rotary E—Club of Singapore president—elect Christopher Bek said Nitcharee’s road to recovery will be an expensive one.
Her treatment in Singapore cost about S$50,000.
Her 56—year—old father, Mr Peneakchanasak, an insurance agent, has told reporters that he rejected SMRT’s compensation offer of S$5,000 and has engaged a lawyer to ask for " fairer" compensation.
Nitcharee, who comes from Trang, in southern Thailand, plans to continue her treatment at the Sirinthorn Centre near Bangkok.
— CNA/ms
SINGAPORE MSIHAP has nO accOUntabIlIty ? ? ? ?
every recovery is done by STRANGERS ? ? ? ?
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Channel NewsAsia, Updated: 15/06/2011
Most S’poreans expect to have less than S$150,000 in CPF on retirement
Singapore's night skyline
SINGAPORE : People in Singapore who plan for their retirement will have about S$153,000 in retirement savings and investments, according to a survey by HSBC.
Those who do not plan — 28 per cent of individuals — will retire with a smaller amount of about S$80,000.
The Future of Retirement survey said about 76 per cent of those with a retirement plan rely on life insurance to finance their retirement.
Not surprisingly, these people also have a more positive outlook and fewer worries about retirement.
However, more than half — 59 per cent — of the respondents feel that they are under—insured, slightly higher than the global figure of 55 per cent.
The 2011 report, " The Power of Planning" , is the sixth in a series and is based on interviews with more than 17,000 people in 17 countries.
The Singapore report was based on views of 1,046 respondents from the republic.
Finances are at the top of most Singaporean’s minds when it comes to retirement — 55 per cent cited concerns about the need for more savings as people are living longer.
65 per cent of Singaporeans are concerned about the prospect of unforeseen events derailing their retirement plans.
29 per cent — the highest in Asia — are also concerned about costs of caring for older parents.
The majority of Singaporeans — 65 per cent — expect their CPF lump sum to be below S$150,000 when they retire.
According to the study, Singaporeans estimate that they will need an average monthly retirement income of S$3,000.
Commenting on how Singaporeans can save for their retirement nest egg, CEO of HSBC Insurance, Walter de Oude, said if a 65—year—old has S$150,000 in his CPF account, he can expect to receive about S$1,400 every month from CPF Life.
In order to receive a monthly income of S$3,000 during retirement, he will have to supplement his CPF savings with another investment.
— CNA/al
|
|
Good Post
Bad Post
|
x 0
x 0
|
WHAT is the MEDIAN INCOME now ?
MasterNg9999 ( Date: 16-Jun-2011 00:17) Posted:
hahaha.... so did our median income .... like that how to have money to invest in local market
all FTs have their own trading platform and will only invest minimal amount here...
T_T ....... but heng got S-chip to at least get the Chinese national to invest although not alot
Cheer |
|
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Channel NewsAsia, Updated: 15/06/2011
George Yeo not running for Elected Presidency
Mr George Yeo at a recent news conference (photo by Melissa Tan, channelnewsasia.com)
SINGAPORE: Former Foreign Affairs Minister George Yeo has decided he will not run for the Elected Presidency.
In a posting on his
Facebook page
on Wednesday night, Mr Yeo said " after considering all factors, I have come to the conclusion that, in this phase of my life, I can better contribute to the Singapore we all love in other ways. I have therefore decided not to run for the Presidency this August."
Within 30 minutes of his post at 9.51pm, it attracted more than 1,000 " likes" and more than 250 comments from netizens, most of whom supported him and wished him well.
Mr Yeo said over the past few weeks, many Singaporeans have urged him to run for the Presidency.
He said this is a major step which he could not rush into.
He thought long and hard over it, consulting not only colleagues, friends and family members, but also taking in the advice and views which many conveyed to him in person.
Mr Yeo said it is not a decision he took lightly.
He said many will be disappointed with the decision but asked for their understanding.
Mr Yeo said he will continue to work with them " to make Singapore a home rich in memories and full of hope for the future."
He also expressed his deep appreciation to all who believe in him and offered him their kind support.
Meanwhile, former Deputy Prime Minister Tony Tan, who is the executive director of Government Investment Corporation of Singapore, said he " will have more to say on the Elected Presidency when I return to Singapore next week" . Dr Tan is currently abroad.
In response to media queries following Mr Yeo’s decision, Dr Tan added: " I would like to reiterate that the next President’s tenure is likely to see great change nationally and internationally. That is why this election is important."
Former NTUC Income chief Tan Kin Lian said he respects Mr Yeo’s decision not to run for the upcoming presidential election and wishes him all the best for the future.
Mr Tan hopes Mr Yeo will be available to contest in a future election.
Mr Tan said he has high regard for Mr Yeo and believes he has the qualities to make a good President, if elected.
So far, Mr Tan and former PAP backbencher Tan Cheng Bock have announced their intention to stand in the Presidential Election, which is due by August 31.
— CNA/TODAY/ir/de
|
|
Good Post
Bad Post
|
x 0
x 0
|
bOth Singapore CASINOS will become
DONKEYS in WORLD GAMING sector
MARINA BAY PROPERTIES
Will be JUNK ? ? ? ?
|
|
Good Post
Bad Post
|
x 0
x 0
|
SHORT GENTING, LAS VEGAS SANDS & STI
sInce there are no JUNCKET LICENCES ? ? ? ?
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Channel NewsAsia, Updated: 15/06/2011
CRA reviewing potential casino junket operators
SINGAPORE: Singapore’s Casino Regulatory Authority says it is reviewing " more than a handful’’ of junket operators to see if they can be given licences to work with the casinos here.
Junket operators usually have strong connections and bring in high rollers.
They act as middlemen and provide credit as well, usually earning a commission based on the amount gambled by the high rollers.
Reports say that in Macau alone, high rollers brought in by junket operators account for almost 70 percent of the industry’s total revenue.
In 2009, Las Vegas Sands chairman Sheldon Adelson said he did not think the Singapore government would allow any junkets.
However, the CRA has never had an outright ban.
Keeping information on such operators close to its chest, CRA refused to say if any licences would be given out by the end of this year.
Speaking to the media at the CRA’s change of command on Wednesday, its outgoing chief Mr T Raja Kumar said checks have to be stringent to prevent organised crime.
He said: " When we do probity checks, we are checking for suitability in terms of the individuals who are involved in the industry as well as check the source of funds to make sure they are legitimate. And when we are satisfied that they meet the requisite requirements then we will proceed to issue licences."
— CNA/ir
Is PROSTITUTION an ORGANIZED CRIME ? ? ? ?
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Channel NewsAsia, Updated: 15/06/2011
S’pore unemployment rate falls to three—year low
Singapore's Central Business District (CBD)
SINGAPORE: Singapore’s overall unemployment rate fell to a three—year low of 1.9 per cent in March amid healthy economic growth and a tight labour market.
The unemployment rate was 2.2 per cent in December.
The Manpower Ministry (MOM) said fewer workers were laid off in the first three months of the year.
Employment creation was also fairly strong, though MOM said it has eased from the robust gains during the initial rebound from the 2009 recession.
Total employment rose by 28,300 in the first quarter, down from the seasonal high gains of 33,900 in the fourth quarter of 2010, driven by year—end hirings for the festive season.
The growth was also lower than the robust 36,500 in the first quarter of 2010, supported then by hirings arising from the Integrated Resorts and the strong job market rebound from the recession.
Most of the employment gains in the first quarter came from services (26,500).
All services industries expanded their workforce, led by community, social & personal services (9,000), professional services (4,400) and wholesale & retail trade (3,400).
Construction added 1,500 workers, recording an increase for the second consecutive quarter, supported by increase in public sector building activities.
Manufacturing registered small gains of 100.
— CNA/cc
What are Professional Services ? ? ? ?
|
|
Good Post
Bad Post
|
x 0
x 0
|
If TRUTH
STI will SOAR
tOmOttOw ?
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Channel NewsAsia, Updated: 15/06/2011
S’pore unemployment rate falls to three—year low
Singapore's Central Business District (CBD)
SINGAPORE: Singapore’s overall unemployment rate fell to a three—year low of 1.9 per cent in March amid healthy economic growth and a tight labour market.
The unemployment rate was 2.2 per cent in December.
The Manpower Ministry (MOM) said fewer workers were laid off in the first three months of the year.
Employment creation was also fairly strong, though MOM said it has eased from the robust gains during the initial rebound from the 2009 recession.
Total employment rose by 28,300 in the first quarter, down from the seasonal high gains of 33,900 in the fourth quarter of 2010, driven by year—end hirings for the festive season.
The growth was also lower than the robust 36,500 in the first quarter of 2010, supported then by hirings arising from the Integrated Resorts and the strong job market rebound from the recession.
Most of the employment gains in the first quarter came from services (26,500).
All services industries expanded their workforce, led by community, social & personal services (9,000), professional services (4,400) and wholesale & retail trade (3,400).
Construction added 1,500 workers, recording an increase for the second consecutive quarter, supported by increase in public sector building activities.
Manufacturing registered small gains of 100.
— CNA/cc
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Channel NewsAsia, Updated: 15/06/2011
Thomson Medical Centre charged with breaching license condition
Thomson Medical Centre charged with breaching license condition
SINGAPORE: Thomson Medical Centre has been charged with breaching a condition of its Health Ministry license.
The license requires the facility to fully comply with the requirements and regulations of the Private Hospitals and Medical Clinics Act.
These include the directives on assisted reproduction or AR services.
It’s believed the medical centre had failed to comply with a clause which requires the AR Director to ensure suitable practices are used in carrying out assisted reproduction activities.
It had allegedly engaged in non—prescribed practices on January 23 last year.
Based on a court document, Thomson Medical Centre is believed to have processed, at the same time, two semen specimens inside one laminar hood — a working space where procedures are performed in a laboratory.
The centre is said to have failed to discard, after each step of processing, instruments known as disposable pipettes, which are used to hold liquids.
Instead, the centre had allegedly labelled the disposable pipettes and kept them in a rack for use in subsequent processing steps of the specimen from the same patient.
Thomson Medical Centre’s Senior Operations Manager, Helen Tan was present in court Wednesday.
The facility is represented by Senior Counsel Lok Vi Ming and the case will be mentioned again on June 21.
If convicted, the medical centre can be fined up to S$20,000.
The facility made the headlines last year after its unit, Thomson Fertility Centre, wrongly used another man’s sperm to impregnate one of its patients.
The couple, a Singaporean Chinese woman and her Caucasian permanent—resident spouse, have decided to keep the child even though the husband’s sperm was not the one used in the botched in—vitro fertilisation (IVF) procedure.
— CNA/cc
|
|
Good Post
Bad Post
|
x 0
x 0
|
if both US and EU shipments dO nOt recOver
TP will be belOw S$1.00 ? ? ? ?
|
|
Good Post
Bad Post
|
x 0
x 0
|
If no extension, it will be bad for MACAU
but gOOd for RWM and RWS.
If extended, no effect.
Hulumas ( Date: 15-Jun-2011 09:36) Posted:
|
|
|
Good Post
Bad Post
|
x 0
x 0
|
|
|
Good Post
Bad Post
|
x 0
x 0
|
To promote greater accountability ...
Committee recommends slew of changes to corporate governance code
Millet Enriquez
emelita@mediacorp.com.sg
SINGAPORE
Also, if the roles of chairman and CEO are filled by the same person, or if they are immediate family members or if the chairman and CEO are both part of the management team, then at least half — up from the current one-third — of the directors should be independent.
To promote greater accountability to shareholders, companies should also put all resolutions to vote by poll and announce detailed results showing the number of votes cast for or against each resolution and the respective percentages.
The Corporate Governance Council, which was set up by the Monetary Authority of Singapore (MAS), is chaired by Singapore Press Holdings CEO Alan Chan.
Among its seven members are SingTel CEO Chua Sock Koong, OCBC CEO David Conner and Securities Investors Association (Singapore) president David Gerald.
First issued in 2001, the code was last revised in 2005.
Compliance with the code is not mandatory but listed companies are required under the Singapore Exchange (SGX) listing rules to disclose their corporate governance practices and give explanations for deviations from the code in their annual reports.
One CEO said: " No Governance is BEST Governance !" — After 18 months of review, the high-powered committee tasked to revise the corporate governance code has suggested a slew of recommendations, which include tightening the criteria for independent directors and requiring firms to disclose the remuneration paid to key management personnel.
|
|
Good Post
Bad Post
|
x 0
x 0
|
WHERE are
NOL's shIps
nOw ? ? ? ?
BATAM ? ? ? ?
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Channel NewsAsia, Updated: 14/06/2011
After her 20—year affair, now hubby wants divorce
SINGAPORE: She was a teacher in his secondary school and he was a 16—year—old student when the alleged affair began.
Two decades later, after teacher and student married separately and had their own families, the husband of the woman is now filing for divorce.
In a Family Court on Tuesday, the man accused his wife of " unreasonable behaviour" and of engaging in an " improper association" that has allegedly continued since 1988.
His court papers stated that his wife, now in her 50s and teaching in an all—girls school, has been carrying on an " inappropriate romantic and intimate relationship" with her former student, now 38.
The divorcing couple cannot be named, as it could lead to the identification of their two adolescent children.
But the claims and counterclaims of the couple were laid bare as the hearing began on Tuesday for a divorce that was filed in August 2009.
According to the court documents, the husband had met his wife when the latter was his private tutor.
The husband, a businessman in his 40s, said he found credit card statements in 1997, seven years into their marriage, showing shopping and dining expenses. He added that his wife later admitted to meeting her former student.
But she allegedly did not cease contact with her former student as promised, even after a year, which was when her husband hit her. She filed a police report.
The couple tried to save their marriage but in 2008, the husband discovered emails between his wife and her former student, which allegedly showed " much flirting and sexual innuendo being tossed back and forth between the two" .
This, after the couple had not been having sex for 10 odd years due to the husband’s impotence, caused by chronic health problems, according to court papers.
In her defence, the wife denied the claims, including the alleged affair. She said she had actively cared for her family and that her husband had constantly placed a tight rein on her.
Represented by lawyer Koh Tien Hua of Harry Elias Partnership, she counterclaimed that she was often scolded and beaten due to her husband’s violent temper and accused him of having an affair, instead, with their former maid.
In subsequent papers filed with the court, she said she had a " purely platonic" relationship with her former student.
The husband, who is represented by lawyer Kevin Lim of Wee Swee Teoh & Co, is denying her claims and is rebutting that his probes were justified due to the ongoing alleged relationship between her and her former student. The man also denied any abuse and said his relationship with their former maid was " entirely platonic" .
The court hearing started after about two hours of closed—door hearings, as the couple could not come to a financial agreement.
The husband later told the court of an email correspondence of an alleged " unofficial school trip" that his wife and her former student made — when the latter was still schooling — where both slept in the same hotel room and " watched each other sleep" .
During cross—examination, the husband also said the alleged ongoing affair had resulted in his wife treating the family poorly.
The court has adjourned the matter to a later date, when witnesses including the wife’s former student and the couple’s children are expected to take the stand. —
TODAY
|
|
Good Post
Bad Post
|
x 0
x 0
|
|
|
Good Post
Bad Post
|
x 0
x 0
|
National Education Day 2011
Indonesia has been commemorating 2 May as its National Education Day since 1908, and every time I would always think about the quality of education in our country. Around 30 years ago, higher education fees were not so expensive. First class state universities/institutes like University of Indonesia (U.I) and Bandung Institute of Technology (ITB) only charged entrance fees of not more that a few millions of Rupiah, compared today which can be as high as 75-100 Million Rupiah or even more. I am not sure whether the quality of education at that time was a lot much lower than it is today, but I know for sure that at that time we were able to sent lecturers, medical doctors and engineers to Malaysia and Middle East countries. Whereas today we only sent lesser skilled labors to work as house maids, constructions and plantations workers abroad. So, is the quality of our education today higher that before ?
|
|
Good Post
Bad Post
|
|
|
|
