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Britain ‘must reverse moral collapse’
wlll thIs FREE shopping hAppen In
US ? ? ? ?
CHINA ? ? ? ?
JAPAN ? ? ? ?
KOREA ? ? ? ?
INDONESIA ? ? ? ?
SINGAPORE ? ? ? ?
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Mixed responses by presidential hopefuls
to PM Lee’s National Day Rally speech
ESTHER NG
estherng@mediacorp.com.sg
With social media changing the political dynamic, Dr Tony Tan agreed with Mr Lee that the Government would have to be more adept at engaging Singaporeans online, while Dr Tan Cheng Bock said active citizenry was “a good way to encourage Singaporeans to come together as one”.
However, former NTUC Income chief Tan Kin Lian pointed out that Mr Lee had previously committed to a more open and consultative approach but “only small progress” has been made. “In some areas, the situation appeared to have worsened. There must be some structural issues and obstacles in getting inputs of the people,” he said.
Noting how he personally experienced red tape when sending suggestions to the authorities, Mr Tan Kin Lian, who nonetheless said he was “encouraged”
by aspects of the speech, hoped Mr Lee would address the “root cause of the challenges faced by his civil servants and ministers”.
In his Facebook post, Dr Tony Tan also wondered whether Singapore would remain ”pragmatic” in its policy-making or if it would “turn populist”.
While he acquiesced that democracy is founded on the consent of the people, populist policies can be “very damaging”, likening this to fund managers measuring bonuses solely on quarterly gains.
WHY MAS does not bAn the Quarterly bOnuses ? ? ? ? to stOp the " Very Damages" ? ? ? ?
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S$73m in healthcare subsidies,
more than 700,000 to benefit
NG JING YNG
jingyng@mediacorp.com.sg
SINGAPORE
Changes to SCHEMES
[dO nOt benefit General Public who have nO SCHEMES]
¢
(Subsidised consultants at private
GPs and dentists) Primary Care Partnership Scheme
• Age criteria: Down from 65 years old to
40 years old
• Income criteria: Up from S$800 to S$1,500
per capita monthly household income
¢ Drug subsidies
• Higher-cost standard drugs: Increased
from 50 per cent subsidy to up to 75 per
cent subsidy
• Medication Assistance Fund for selected
expensive drugs: Raised from up to 50 per
cent subsidy to up to 75 per cent subsidy
• The Medication Assistance Fund will be
expanded to cover non-standard drugs
on a case-by-case basis
¢
chronic outpatient treatment Medisave withdrawal limit for
• To be raised from S$300 to S$400.
About 112,000 patients will benefit
¢ Medifund
• To be extended to include community
and home-based Intermediate and
Long Term Care services. Around 1,000
patients to benefit
— Healthcare will receive a significant boost here, with the Government setting aside S$73 million worth of subsidies for medication and for patients to seek subsidised care at their local General Practitioners (GPs) and dentists.
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Is this a dIstraction ? ? ? ?
GP prices had
mOre thAn dOUbleD
sInce the scrApping of
published GP Clinic fees Guidelines ? ? ? ?
General Public Health Cost rOcketed shOckingly ? ? ? ?
pharoah88 ( Date: 16-Aug-2011 09:26) Posted:
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By Channel NewsAsia, Updated: 15/08/2011
MOH announces initiatives to make healthcare more affordable
A hospital in Singapore
SINGAPORE : The Ministry of Health (MOH) has said it will almost double the qualifying income criteria for the Primary Care Partnership Scheme to S$1,500 from January next year.
The current qualifying income criterion is S$800 a month.
The scheme allows needy patients to receive subsidised treatment at general practitioners (GPs) and dental clinics near their homes.
The age eligibility criteria of the scheme will also be lowered from 65 to 40.
The new criteria will benefit some 710,000 more Singaporeans.
They are part of a series of initiatives to be rolled out in the first quarter of next year to make healthcare more affordable.
About 20 per cent of private clinics are participating in the scheme, and MOH wants to encourage more private clinics to join in.
Health Minister Gan Kim Yong said: " Part of the reason why not all the GPs are in the scheme today is because the numbers are small. We have just over 30,000 patients on the PCPS scheme today.
" So I think going forward, with the increase in the number, in the larger pool of eligible Singaporeans, more GPs are likely to come on board."
Private doctors welcome the initiative, but they also express concerns.
Dr Chong Yeh Woei, president of the Singapore Medical Association, said: " We are a little bit concerned about the paper work and the administrative hurdles. The second is of course the scale.
" The present number of PCPS patients is about 31,000 we will see this potentially enlarge to 700,000 patients. So to handle such a scale of patients, we will definitely need a more robust system."
MOH said it will find ways to minimise administrative procedures.
It will also be revising the application process to the scheme to cater to the larger number of patients eligible under the new criteria.
To help Singaporeans better manage chronic diseases, MOH will raise the Medisave withdrawal limit for outpatient treatments from S$300 to S$400 per Medisave account per year. The scheme will be renamed Medisave400.
About 112,000 chronic patients will stand to benefit from the scheme.
Subsidies for drugs required for chronic disease management will be raised from the current 50 per cent to 75 per cent.
In addition, MOH will enhance the subsidy under the Medication Assistance Fund (MAF), also to 75 per cent. The fund helps needy Singaporean patients pay for expensive drugs used to treat specific medical conditions.
Mr Gan believes the new initiatives, which are meant to help outpatient treatment, will also indirectly ease the bed crunch in hospitals over the long term. Mr Gan explained that if chronic ailments can be better managed, the patient’s health can be improved. Eventually, this can minimise the need to hospitalise them.
In other key changes, MOH will also enhance Medifund to include non—residential intermediate and long—term care services (ILTC), such as day rehabilitation and home nursing.
With this, needy Singaporeans can opt for non—residential care, helping them recover and age gracefully in the community. This is expected to benefit about 1,000 more Singaporeans.
Mr Gan is also taking over former Minister in the Prime Minister’s Office, Lim Boon Heng, as the person in charge of the Ministerial Committee on Ageing.
He said he has set up four sub—committees to look into ageing issues. The sub—committees will study areas in active ageing and employability, healthcare and social care services, home care and family support, as well as manpower needs.
— CNA/ac/ms
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TAN
in Hokkien means
" WAIT"
for hOw lOng ? ? ? ?
5 lOng yeArs ? ? ? ?
niuyear ( Date: 12-Aug-2011 13:03) Posted:
What i can assure Singaporeans is :
We are going to have President with surname : Tan
pharoah88 ( Date: 12-Aug-2011 12:35) Posted:
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I wish to assure the public and all concerned that my campaign will be run in a clean and dignified manner, as befitting the status of the office.
Mr Tan Kin Lian
The Office of the President is the highest office in our nation.
I expect there to be a vigorous exchange of views during the campaign.
Dr Tony Tan
I’m a non-PAP candidate and I’m the only truly independent.
I have never been a member of the PAP, whereas the other three candidates have been.
Mr Tan Jee Say
This contest is good for Singapore because for the first time in 18 years, Singaporeans will get the chance to vote for the Elected President.
Dr Tan Cheng Bock |
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By Channel NewsAsia, Updated: 15/08/2011
MOH announces initiatives to make healthcare more affordable
A hospital in Singapore
SINGAPORE : The Ministry of Health (MOH) has said it will almost double the qualifying income criteria for the Primary Care Partnership Scheme to S$1,500 from January next year.
The current qualifying income criterion is S$800 a month.
The scheme allows needy patients to receive subsidised treatment at general practitioners (GPs) and dental clinics near their homes.
The age eligibility criteria of the scheme will also be lowered from 65 to 40.
The new criteria will benefit some 710,000 more Singaporeans.
They are part of a series of initiatives to be rolled out in the first quarter of next year to make healthcare more affordable.
About 20 per cent of private clinics are participating in the scheme, and MOH wants to encourage more private clinics to join in.
Health Minister Gan Kim Yong said: " Part of the reason why not all the GPs are in the scheme today is because the numbers are small. We have just over 30,000 patients on the PCPS scheme today.
" So I think going forward, with the increase in the number, in the larger pool of eligible Singaporeans, more GPs are likely to come on board."
Private doctors welcome the initiative, but they also express concerns.
Dr Chong Yeh Woei, president of the Singapore Medical Association, said: " We are a little bit concerned about the paper work and the administrative hurdles. The second is of course the scale.
" The present number of PCPS patients is about 31,000 we will see this potentially enlarge to 700,000 patients. So to handle such a scale of patients, we will definitely need a more robust system."
MOH said it will find ways to minimise administrative procedures.
It will also be revising the application process to the scheme to cater to the larger number of patients eligible under the new criteria.
To help Singaporeans better manage chronic diseases, MOH will raise the Medisave withdrawal limit for outpatient treatments from S$300 to S$400 per Medisave account per year. The scheme will be renamed Medisave400.
About 112,000 chronic patients will stand to benefit from the scheme.
Subsidies for drugs required for chronic disease management will be raised from the current 50 per cent to 75 per cent.
In addition, MOH will enhance the subsidy under the Medication Assistance Fund (MAF), also to 75 per cent. The fund helps needy Singaporean patients pay for expensive drugs used to treat specific medical conditions.
Mr Gan believes the new initiatives, which are meant to help outpatient treatment, will also indirectly ease the bed crunch in hospitals over the long term. Mr Gan explained that if chronic ailments can be better managed, the patient’s health can be improved. Eventually, this can minimise the need to hospitalise them.
In other key changes, MOH will also enhance Medifund to include non—residential intermediate and long—term care services (ILTC), such as day rehabilitation and home nursing.
With this, needy Singaporeans can opt for non—residential care, helping them recover and age gracefully in the community. This is expected to benefit about 1,000 more Singaporeans.
Mr Gan is also taking over former Minister in the Prime Minister’s Office, Lim Boon Heng, as the person in charge of the Ministerial Committee on Ageing.
He said he has set up four sub—committees to look into ageing issues. The sub—committees will study areas in active ageing and employability, healthcare and social care services, home care and family support, as well as manpower needs.
— CNA/ac/ms
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Monday, 15 Aug 2011, 9:11am (23 hours 51 min ago)
The 'Stone-Like' Disc that Lasts Forever
Start-up Millenniata and Hitachi-LG Data Storage plan to soon release a new optical disc and read/write player that will store movies, photos or any other data forever. The data can be accessed using any current DVD or Blu-ray player.
Millenniata calls the product the M-Disc, and the company claims you can dip it in liquid nitrogen and then boiling water without harming it. It also has a U.S. Department of Defense (DoD) study backing up the resiliency of its product compared to other leading optical disc competitors.
Millenniata CEO Scott Shumway would not disclose what material is used to produce the optical discs, referring to it only as a " natural" substance that is " stone-like." Millenniata partnered with Hitachi-LG Data Storage to provide M-Ready technology in most of its DVD and Blu-ray drives. Shumway said the products will begin shipping next month and should be in stores in the beginning of October.
Unlike DVDs, which come in 10-, 25-, 50- or 100-disc packs, M-Discs will be available one at a time, or in groups of two or three for just under US$3 per disc. Millenniata is also courting system manufacturers in the corporate archive world.
For the full article, please follow this link.
(Source: Computerworld Inc.)
(Source: Millenniata, Inc.)
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A theory of everything (sort of)
The IT revolution is making it harder to get ahead in life, while super-empowering people to challenge authority
Thomas L Friedman
It used to be that only cheap foreign manual labour was easily available now cheap foreign genius is easily available.
Good jobs do exist, but they require more education or technical skills.
Only Salaries are brOUght dOwn ? ? ? ?
WHY cOst of gOOds & servIces are gOIng Up Instead ? ? ? ?
WHO are prOfiteering frOm this S C A M ? ? ? ?
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Genting Singapore – Summary Earnings Table
FYE Dec (SGD m) 2009A 2010A 2011F 2012F 2013F
Revenue 49.5 2,753.3 3,246.1 3,464.5 3,716.3
EBITDA 14.9 1,422.1 1,601.6 1,662.8 1,800.9
Recurring Net Profit (40.0) 782.6 949.1 1,003.9 1,139.7
Recurring Basic EPS (Cents) (0.1) 6.4 7.7 8.2 9.3
EPS growth (%) (65.0) n.m. 20.4 5.8 13.5
DPS (Sen) - - - - -
PER n.m. 26.8 22.3 21.0 18.5
EV/EBITDA (x) n.m. 14.7 12.6 11.5 10.0
Div Yield (%) - - - - -
P/BV(x) 4.9 4.1 3.5 3.0 2.6
Net Gearing (%) 22.0 Cash Cash Cash Cash
ROE (%) (1.2) 16.9 17.0 15.3 14.9
ROA (%) (0.6) 8.2 9.1 8.9 9.6
Revision in Net Profit (%) n.a. n.a. +7.1 -4.5 -4.2
Consensus Net Profit (SGD m) n.a. n.a. 1,118.2 1,328.6 1,600.2
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Darkest before dawn
Calling the bottom
We also lower our TP from SGD2.13 to SGD2.06 (-3%).
Maintain Buy.
Above expectations but due to positive VIP win rate.
2Q11 core net profit of SGD206.3m (-38% YoY, -38% QoQ) lifted 1H11 core net profit to SGD541.3m (+25% YoY), 61% of our full-year estimate. The outpeformance was due to RWS’ 1H11 VIP 3.3% win rate, above the theoretical and our assumption of 2.85%. 2Q11 VIP win rate of 2.7% vs. 1Q11’s 3.8% coupled with VIP volume which fell 13% QoQ caused 2Q11 core net profit to fall 38% QoQ. RWS’ share of VIP volume was 52% in 2Q11 (1Q11: 59%). No dividends were declared, as expected.
Better outlook from 4Q11. We tweak our 2011 earnings estimates higher by 7% on a higher VIP win rate assumption of 3.1% (assumes 2H11 VIP win rate of 2.85%) moderated by a lower 55% share of VIP volume (1H11: 55%) versus 60% previously. The lower share of VIP volume trims our 2012-13 earnings estimates by 4% p.a.. 3Q11 is expected to be slow due to the Hungry Ghost month and MICE events that favours MBS which would be offset somewhat by the F1 Singapore GP. That said, we expect VIP and mass market volumes at RWS to peak in 4Q11 due to the school holidays that favours RWS.
Too much bad news priced in – maintain Buy, but trim TP to
SGD2.06.
We are still bullish on RWS’ long term prospects, riding on the growing ASEAN economy, potential legalization of junkets and the establishment of Singapore as a Chinese Yuan hub. In tandem with our trimmed earnings estimates, we lower our DCF based TP from SGD2.13 to SGD2.06. Although GENS lost market share in 2Q11, this risk is narrowing as both integrated resorts approach the 50%:50% mark in terms of GGR.
Genting Singapore – Summary Earnings Table
FYE Dec (SGD m) 2009A 2010A 2011F 2012F 2013F
Revenue 49.5 2,753.3 3,246.1 3,464.5 3,716.3
EBITDA 14.9 1,422.1 1,601.6 1,662.8 1,800.9
Recurring Net Profit (40.0) 782.6 949.1 1,003.9 1,139.7
Recurring Basic EPS (Cents) (0.1) 6.4 7.7 8.2 9.3
EPS growth (%) (65.0) n.m. 20.4 5.8 13.5
DPS (Sen) - - - - -
PER n.m. 26.8 22.3 21.0 18.5
EV/EBITDA (x) n.m. 14.7 12.6 11.5 10.0
Div Yield (%) - - - - -
P/BV(x) 4.9 4.1 3.5 3.0 2.6
Net Gearing (%) 22.0 Cash Cash Cash Cash
ROE (%) (1.2) 16.9 17.0 15.3 14.9
ROA (%) (0.6) 8.2 9.1 8.9 9.6
Revision in Net Profit (%) n.a. n.a. +7.1 -4.5 -4.2
Consensus Net Profit (SGD m) n.a. n.a. 1,118.2 1,328.6 1,600.2
Genting Singapore’s (GENS) 1H11 results were above expectations on above theoretical VIP win rate at Resorts World Sentosa (RWS). Although RWS lost gross gaming revenue (GGR) share to Marina Bay Sands (MBS), at 49% in 2Q11, this risk is narrowing. We tweak our 2011 earnings estimates higher by 7% on higher VIP win rate of 3.1% but trim our 2012-13 earnings estimates by 4% p.a. on a lower 55% share of the VIP volume (60% previously).
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China's Rebirth: The 2012 LCD TV Predicament
By Andy Sim on 03 Aug 2011 |
In China, a growing number of flat-panel factories are slated to go operational by the closing chapters of 2012.
This anticipated surplus of display panels has sparked a so-called " 2012 predicament" which may cause Japanese TV makers to suffer further losses with regards to global sales figures.
Can the Japanese camp wise up before they sustain irrecoverable deficits?
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China's Rebirth: The 2012 LCD TV Predicament
By Andy Sim on 03 Aug 2011 |
| In China, a growing number of flat-panel factories are slated to go operational by the closing chapters of 2012. This anticipated surplus of display panels has sparked a so-called " 2012 predicament" which may cause Japanese TV makers to suffer further losses with regards to global sales figures. Can the Japanese camp wise up before they sustain irrecoverable deficits? |
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Friday, 12 Aug 2011, 9:41am (2 hours 32 min ago)
The USB 3.0 Promoter Group is announcing that it is creating a new power delivery specification which will significantly extend the capabilities and usages of cable bus power in USB applications. The new specification will enable delivery of more power via the familiar USB connectors and cables, and will coexist with the USB Battery Charging 1.2 specification and existing USB bus-powered applications.
Key characteristics of the forthcoming USB Power Delivery solution include:
-
Compatible with existing cables and connectors
-
Enables voltage and current values to be negotiated over the USB power
pins
-
Enables higher voltage and current in order to deliver power up to 100W
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Switchable source of power delivery without changing cable direction
-
Coexists with USB Battery Charging 1.2 and works equally well with both
USB 2.0 and USB 3.0
“Building on the rapidly increasing industry momentum for using USB bus power to charge a broad range of mobile devices, the new USB Power Delivery specification extends USB’s cable power delivery capabilities beyond simple battery charging,” said Brad Saunders, USB 3.0 Promoter Group Chairman. “For example, charging the battery of a notebook PC, or simply powering that notebook PC while actively using the USB data connection, would be possible. Conceivably, a notebook PC could rely solely on a USB connection for its source of power.”
For the full press release from USB-IF, kindly follow this link.
(Source: USB-IF)
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I wish to assure the public and all concerned that my campaign will be run in a clean and dignified manner, as befitting the status of the office.
Mr Tan Kin Lian
The Office of the President is the highest office in our nation.
I expect there to be a vigorous exchange of views during the campaign.
Dr Tony Tan
I’m a non-PAP candidate and I’m the only truly independent.
I have never been a member of the PAP, whereas the other three candidates have been.
Mr Tan Jee Say
This contest is good for Singapore because for the first time in 18 years, Singaporeans will get the chance to vote for the Elected President.
Dr Tan Cheng Bock
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Why youths here will not riot like those in London
Carolyn Quek
carolynquek@mediacorp.com.sg
SINGAPORE
“Some of them are just idling, some just need something to do, some of them need structures into which they can participate in. But a lot of them really can take care of themselves,” said Mr Masagos, who also heads the National Committee on Youth Guidance and Rehabiliation.
He noted that as a first line of defence, there are the parents of these youths to inculcate good values in their children. He also said that, with a school drop-out rate of less than 1 per cent here, schools keep youths engaged and out of trouble.
As a third line of defence, there are also the preventive actions undertaken by the police and the Ministry of Community Development, Youth and Sports to “ensure we engage youth meaningfully at the various levels of needs”.
He made these comments on the sidelines of first Singapore Restorative Conference yesterday, where he also let on that a Home Affairs Ministry review to make laws tougher and give the police greater powers to tackle youth gangs will be concluded soon. — Not all youth here are at risk of committing violence, and there are lines of defence in place here to prevent a situation like the London riots from happening in Singapore, said Minister of State for Home Affairs and Education Masagos Zulkifli.
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Legal recourse lost with re-hiring?
Subtle but crucial difference between raising the retirement age, and re-hiring retirees
Letter from Lisa Li Shi-En
The Ministry of Education (MOE) has clarified that most re-employed retired teachers would have an 18 per cent pay cut, while those who have not reached the maximum of their salary scales will see a smaller cut, with no reduction for some.
But there is still no clear, transparent link between salary and workload.
Why will most retired teachers (reemployed as contract adjunct staff) have an 18 per cent pay cut, when MOE’s website states that the contract adjunct schemes are based on full, 3/4, 2/3 or half workload?
Isn’t this a loophole for potential exploitation — or over-protection — if a retired teacher deemed fit for a full workload can be vulnerable to a pay cut of 18 per cent, and up to 30 per cent for teachers who give up supervisory duties?
And shouldn’t a teacher on half workload receive only half of his or her last-drawn salary?
The MOE’s vague clarification retains the possibility that a re-employed teacher’s workload might be equally heavy — even if he or she does not take on the same duties as teachers not on such contracts — in terms of number of classes and working time.
Would it not be beneficial for both the MOE and the teachers if the percentage pay cut is directly linked to the percentage reduction in workload?
Secondly, is the MOE re-employing retired teachers or raising the retirement age?
Last October, then-Minister in the Prime Minister’s Office Lim Boon Heng said “we’re raising the retirement age, through the process of re-employment, from the current 62 to 65”.
It is strange he conflated the two ways of framing the issue, as there is a subtle but crucial difference.
If the retirement age is raised, the employee is then protected by the Retirement Age Act, which stipulates that employers can cut wages of employees who reach 60 years of age by up to 10 per cent, based on reasonable factors other than age.
In other words, if the MOE raised the official retirement age, these teachers between 62 and 65 years would still be protected under the Act, and their maximum pay cut would be 10 per cent.
However, because the government is keeping the official retirement age at 62 years and “re-employing” the “retired” teachers, they have no legal recourse when their pay is cut by 18 or 30 per cent without a matching percentage reduction of workload.
Is the Government classifying its employees as re-employed retirees who cannot be protected by the Act, rather than admitting to the raise in retirement age?
Finally, I am concerned that even a percentage cut based on last drawn salary would allow those who retire as vice-principals or principals (who are then rehired) to receive significantly higher pay for a regular contract adjunct teacher’s job.
There should be equal pay for equal work.
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US downgrade a boost for Singapore
While grey clouds loom in the global economy, the Republic’s AAA rating could give it competitive advantages
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tOO gOOd tO bE TRUE ? ? ? ?
tOO bAd tO bE FALSE ? ? ? ?
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ANALYSTS SURPRISED
In the case of Mr Ooi, who had asked for a waiver from the criteria, the PEC said it has no power to waive any of the constitutional requirements.
The committee also rejected Mr Kuan, in his second bid to enter the presidential race, reiterating that his post in JTC Corporation was not of sufficient seniority and responsibility required of aspirants.
All that remains for Singapore to see a four-cornered fight is for the hopefuls to present the necessary documents — including the Political Donation Certificate — to the Returning Officer, as well as pay the S$48,000
election deposit to the Accountant-General, come Nomination Day next Wednesday.
Thereafter, the four candidates will have nine days to campaign by way of television broadcasts, rallies, banners and posters.
They can also campaign on the Internet and new media, according to guidelines issued last month by the Prime Minister’s Office (PMO).
Each candidate will be given two 10-minute blocks of air time to address the electorate, while MediaCorp will produce and broadcast a television profile on each of them, as well as hold a joint television interview with all the candidates.
“At the same time, I hope that the campaign will be carried out with decorum and in a manner befitting the Office of President,” he added.
Mr Tan Kin Lian echoed his sentiments, saying: “At this juncture, I wish to assure the public and all concerned that my campaign will be run in a clean and dignified manner, as befitting the status of the office.”
Mr Tan Jee Say — who was also out and about yesterday, giving a lunchtime talk in the CBD — said that he too was looking forward to a “dignified contest”.
mOst dIgnIfIed mOdel
debAte and vOtIng
at every CONSTINTUENCY
One At A tIme
like in The US ? ? ? ? Dr Tony Tan, who held a closed-door dialogue at the Singapore Malay Chamber of Commerce & Industry yesterday, said he expects a “vigorous exchange of views during the campaign, with all Singaporeans participating in the discussion”.
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Seagate GoFlex Slim
At only 9mm thick, the GoFlex Slim by Seagate is officially the thinnest external hard drive around - but it's not light on features. It's able to sync with the latest and thinnest laptops and netbooks on the market.
GoFlex has some of the most up-to-date technology you can find in an external hard drive: USB 3.0 connectivity and performance, 7200 RPM internal drive for speedier file transfers, and Mac and PC compatibility.
The only downside? It is only available in 320GB, which is relatively small compared to its other portable competitors.
Price: US$99.99 (320GB)
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