On 6 June, Unilever COO Harish Manwani took part in the main public session at the World Economic Forum (WEF) East Asia summit being held in Myanmar (Burma).

Scenario planning and its importance in charting Singapore’s long-term challenges were the subjects of discussion at a public lecture on Friday.

Scenario planning and its importance in charting Singapore’s long-term challenges were the subjects of discussion at a public lecture on Friday.

The Shell Global Scenarios event was jointly organised by the oil giant and Singapore’s Institute of Policy Studies.

While Singapore may not have a carbon tax regime yet, Shell International’s chief political analyst said the company has been using US$40 per tonne for carbon emissions, as a planning norm in its investment decisions.

Dr Cho-Oon Khong and other speakers at the lecture also felt it is important for citizens to take climate challenge more seriously.

Citizens must also recognise that climate change will have an increasing impact on their lives.

Dr Khong said: “Developing countries can say to developed countries, ‘you put the carbon in the air, you deal with it’.

“But the problem is unless everyone acts, more and more carbon will be put into the air and what we do recognise in our energy modelling is that we expect the large part of economic growth to come in future decades from the developing world.

“So developing countries, along with developed countries, would also have to look seriously at the ways in which they use energy.”

Tan Li San, director at Singapore public Service Division, said: “In terms of what the government is doing, there has to be a lot of engagement, the Ministry of Environment, the National Environment Agency, there is no lack of engagement with students, with the public and civil society.”

Source:channelnewsasia.com

This makes it increasingly likely that the government will be forced to implement a new austerity drive in August. The leaders of the two ruling parties said earlier on Thursday they expect a package of cuts and taxes to generate €6bn will be on the cards.

The CPB was due to publish its crucial forecasts on Friday but the figures were leaked earlier to RTL news. Earlier this week, the central bank put next year’s budget deficit at 3.9%.

August deadline

The decision on whether or not to impose extra cuts will be formally taken in August. Ministers agreed with unions and employers earlier this year to hold off on implementing a €4.3bn austerity package until after the summer break.

The new CPB forecasts also show that employment is rising quickly and the situation is now similar to the 1980s, RTL news reported. By the end of next year, the jobless total will have reached 635,000 people, or 7%.

The CPB also says wages will rise less than inflation and that spending power will be down 1.25% on average over 2013 and 2014.

Source:dutchnews.nl/

The downgrade comes after the Singapore economy grew just 0.2 per cent in the first quarter.

In a quarterly survey conducted by the Monetary Authority of Singapore, private sector forecasters expect a 1.5 per cent growth for the Singapore economy in the second quarter of 2013 — a downgrade from an earlier estimate of 2.0 per cent growth.

Inflation is forecast to ease to 2.8 per cent in 2013, one percentage point lower than the 3.8 per cent projected in March.

Source:channelnewsasia.com

http://www.channelnewsasia.com/tv/tvshows/documentaries/imagine-singapore-2030/622212.html

Further Information

• Further information regarding submission of abstracts, registration for the Water Convention, and paper presentation including a template for the abstract is available at www.siww.com.sg/water-convention
• The submission deadline for abstracts is 5 July 2013. Submissions will be peer-reviewed and accepted authors will be notified by 2 December 2013.

Contact Information
For any enquiries, please email the Water Convention secretariat atwaterconvention@siww.com.sg

Detailed information will also be available at www.siww.com.sg/water-convention

The Water Convention 2014 continues to create sustained dialogue on a wide range of topics along five themes:

1. Delivering Water from Source to Tap
2. Effective and Efficient Wastewater Management
3. Water for Liveability and Resilience
4. Water Quality and Health
5. Water for Industries

Water for Industries is the latest theme to be added to the Water Convention series. It serves to highlight the importance of affecting change in the way water and wastewater is used and managed by the industrial sector, which has been identified as the second largest water consumer in the world, forcing industries to search for innovative solutions to improve water sustainability across the value chain. Industries currently account for up to 25% of the world’s water consumption but sustainable water management practices within the sector has yet to become prevalent. The theme will work towards raising awareness and pooling ideas to improve industrial water sustainability.

The presentations in the Water Convention aim to identify suitable technologies, processes, systems and approaches for solving various problems and issues faced by water practitioners worldwide. In this respect, abstracts for all the listed themes and topics are welcome.

Submit your papers today and pave the way to effective, sustainable solutions for our global water challenges.

The Lee Kuan Yew Water Prize laureate receives S$300,000, a certificate, and a gold medallion at the award ceremony held during SIWW. The Singapore Millennium Foundation (SMF), a philanthropic body supported by Temasek Holdings, is the sponsor of the Lee Kuan Yew Water Prize.

Call for Nominations 

Singapore International Water Week calls for nominations for the Lee Kuan Yew Water Prize 2014. Qualified parties, such as leaders of international water companies and water utilities, top academics in water research, policy and management, heads of international organisations, members of government, or distinguished individuals in the water field are welcome to submit nominations.

All nominations will undergo two rounds of rigorous selection. The Nominating Committee will thoroughly evaluate all submitted nominations and make their recommendations to the Water Prize Council, which will then decide on the prize winner.

Nominations close on 21 June 2013. To read more on the Nomination Guidelines and Forms, please click here.

For more information, please contact
Lee Kuan Yew Water Prize Secretariat
40 Scotts Road, #22-01, Environment Building
Singapore 228231
Email: leekuanyewwaterprize@siww.com.sg

ATC provides high quality fiduciary, management and administration services to multinational corporations, financial institutions, investment funds and entrepreneurs. Headquartered in Amsterdam, the Netherlands, ATC currently operates with over 380 employees and is active in 16 key jurisdictions.

As a combined group, Intertrust will operate with more than 1,400 people from 32 offices in 23 countries. Intertrust combines global reach with local knowledge and cultural understanding to serve international clients from every corner of the world. The acquisition of ATC reinforces Intertrust’s successful acquisition strategy, aimed at extending its expertise and global capabilities in light of ongoing globalization and clients’ increasingly complex needs.

Commenting on the transaction, David de Buck, CEO of Intertrust Group, said:

‘ATC is a well-respected competitor with high quality standards and values similar to Intertrust. We strongly believe that ATC and Intertrust are an excellent fit, and will bring great benefits to our clients and advisors. Through the acquisition Intertrust becomes the undisputed quality leader of our industry in the Netherlands, Luxembourg and Cayman Islands, and one of the strongest global providers in our industry. We further strengthen our market position in key jurisdictions and expand our global network by adding an office Nassau, the Bahamas. ATC’s quality, experience, professional staff and ambitious approach to servicing quality clients mirror the Intertrust culture. We look forward to working with the ATC team and enjoying further success based on our joint capabilities.’

Johan Lont, CEO of ATC, added:

‘We believe becoming part of Intertrust Group is an excellent step forward. We share the strategic vision to become the leading, high quality global services provider of our industry. Our combined service offering and network of offices will further strengthen our capabilities to support our clients in all key international business locations across Asia, Europe and the Americas. Effectively, as a combined group we will be the service provider of choice for clients that seek the most professional and highest quality support for their business.‘

David de Buck will remain CEO of the enlarged Intertrust Group whereas Johan Lont, CEO of ATC Group, will remain with the combined group as Non-Executive Director within the Intertrust Management Board.

The acquisition is subject to regulatory approval and is expected to be completed in the coming months.

Source: Intertrust

The NTS-Group based in Eindhoven has acquired two companies, one in Singapore and one in Suzhou (China), from the Asian group HFB Ltd. Both companies will continue operations as 100% subsidiaries as “NTS Components Singapore” and “NTS Components Suzhou”, respectively. The acquired manufacturing companies are well-known in Asia as highly reputed suppliers of sheet-metal work to international machine builders in the high-tech industry.

Marc Hendrikse, CEO of the NTS-Group: “The combination of opto-mechatronic systems development and assembly, including the manufacture of related critical components under own management, has turned out to be extremely successful in Europe. The acquisition of these two companies means we can now offer customers with business locations in Asia exactly the same comprehensive package of services that we provide in Europe”.
In addition to the acquisitions, the NTS-Group will set-up a mechatronic assembly company in Singapore, “NTS Mechatronics Singapore”, to be able to do this. This company will take on the engineering and assembly of modules in the region and will work closely with NTS Components Singapore.

The markets that both Asian companies currently serve match the international markets in which NTS specializes: healthcare, semiconductor, analytical equipment, digital printing and solar. The acquired companies in Singapore and Suzhou have a great deal of experience in producing and coating precision-engineered frames and covers. Furthermore, the Singapore-based company is specialized in the final machining of large frames and has in-depth knowledge of and experience in co-designing and assembling mechanical-engineering modules. The acquisitions represent an important step in the NTS-Group’s strategy of further expanding its leading position as an international system supplier.

Acquisition enables further growth
Both companies employ over 100 people. Together with the start-up of the assembly plant in Singapore, this will increase the NTS-Group’s total workforce to more than 1000 people. The management of both companies will join NTS and will be strengthened with European specialists from the present NTS organization.

Marc Hendrikse: “We expect the expansion of our activities for customers based in Asia to generate new work opportunities for our European companies, especially in the areas of engineering and prototyping. We have observed increasingly more often that large, internationally operating OEMs are seeking out supply partners that can provide and carry out work in the same cluster on different continents. Simultaneously, our Asian customers’ demand for service is also growing, which is why it is good to have a high-quality local NTS subsidiary nearby.”

Source: NTS-Group

The projections are based on a city’s perceived ability to attract capital, business, talent and tourists.

As well as forecasting Singapore’s third spot – a position it held when an earlier report was published a year ago – the findings reflect the emergence of Asia Pacific as an economic force.

Hong Kong, Tokyo and Sydney were also tipped to be in the top 10 for global competitiveness in 2025 in the report compiled by the Economist Intelligence Unit (EIU) and commissioned by Citi.

It assessed 120 cities. In Singapore’s case, it noted that the country’s physical capital, financial maturity, environment and natural hazards and global appeal will make it a competitive force.

The report, released on Tuesday at the New Cities Summit in Sao Paulo, said New York will be the world’s most competitive city in 2025, followed by London and Singapore, with Hong Kong, Tokyo and Sydney following.

It noted that physical infrastructure, financial maturity and global appeal drive the competitiveness of cities in the region.

“Asia’s growth and global pre-eminence are reflected in the development and competitiveness of its urban centres,” said Leo Abruzzese, the global forecasting director of the EIU, the business information arm of The Economist Group which publishes The Economist magazine.

“The growth in competitiveness of large and mid-sized cities proves Asia’s diverse urban development.”

Stephen Bird, Citi chief executive for Asia Pacific, said: “The findings of this report indicate that the economic rise of Asian cities will be mirrored by the region’s increased competitiveness in 2025.”

While the report cited Singapore’s strengths, including its efforts to boost education, it also identified weaknesses, noting that the working-age population is projected to be stagnant at 3.6 million between last year and 2025. This highlights “the need to ensure that the city remains a hub open to the flow of people, ideas, capital and goods and services”, it added.

Economists say factors such as the rising cost of living and labour concerns will be most crucial in ensuring Singapore retains its competitive edge. These are being tackled with economic restructuring and a productivity push.

CIMB regional economist Song Seng Wun said: “It may take a while, but these factors will eventually be settled.”

If Singapore’s projected competitive position in 2025 seems rosy, the here and now looks more uncertain, according to last month’s 2013 IMD World Competitiveness poll, which saw the country’s ranking slip for the third year running.

Singapore came in fifth behind the top-ranked United States, Switzerland, Hong Kong and Sweden, dropping a place from the previous year due to rising costs and an economic slowdown.

The IMD study is one of two competitiveness polls keenly monitored by businesses and policymakers. The other, the World Economic Forum Global Competitiveness Report, ranks Singapore as the second most competitive economy, after Switzerland.

source: The Straits Time

But despite labour productivity rising in the two preceding years — it rose by 1.3 per cent in 2011 and 11 per cent in 2010 — it has been shrinking by 0.4 per cent per annum in the last five years.

From 2007 to 2012, employment grew by 4.7 per cent compared to the real gross domestic product growth of 4.3 per cent, the report noted.

Labour Member of Parliament Zainal Sapari felt the dip in labour productivity was “not surprising, because in the past our productivity was actually driven by manpower supply”.

“As the Government has tightened the foreign labour supply, we do expect that firms in their transitional stage in adjusting to the reduced manpower will experience a decline in productivity,” he added.

CIMB Research’s Regional Economist Song Seng Wun felt that the productivity was “a function of the slower (economic) growth” witnessed last year. “Singapore’s businesses tend to be quite reluctant to lay off workers because it’s very hard to employ,” he said. “With unemployment rate in Singapore, both at resident level and overall level, at relative low and with the Government saying that they’re not making any U-turn on the foreign worker policy, businesses normally try to hang on to workforce hoping that by the time demand recovers, they have the workforce in place.”

Added Mr Song: “With overall demand for goods and services down, overall the pool of workers basically still is the same, or even growing, (so) overall productivity comes off.”

Moving forward, Mr Sapari felt that it would be important for firms to restructure themselves and “really look into adopting technology and improve their work processes to make best use of their existing manpower to improve productivity”.

Source: Today

In the past eight years CPI has become a trusted advisor and partner for its clients and has developed a thought-leadership position perceived to be a critical challenger to the larger service organisations, such as the Big Four.

Today, Asia’s fast-paced market growth, coupled with increased regulatory scrutiny, has resulted in increased demand for implementation of profound risk management, finance and governance processes. CPI is an advisor, implementation partner and provides project-management and staffing services.

Simone Heidema is the Founder and Managing Partner of CPI. She is a qualified auditor and has worked globally as both an advisor and in CFO positions.’

Contact:

Simone Heidema (sheidema@cpigovernance.nl)

CPI Asia
1 Raffles Place, Level 24
Singapore 048616
T  +65 6408 0558
www.cpiasia.com

Bloomberg looked at 100 countries to determine which had the highest percentage of listed companies operating in high-tech sectors. These include companies specialising in aerospace and defence, biotechnology, hardware, software and services, semiconductors and renewable energy.

The US, where nearly 23% of listed companies are considered to be high-tech, topped the ranking. In the Netherlands, 19% of firms were said to be high-tech while Sweden was third with 18%.

Only companies that have been listed a year or longer and have a market value of at least $1m were included in the list, which was published in late May.

Source: dutchnews.nl

By the expiry of the statutory deadline of 22 April 2013, none of the remaining shareholders had made any application to the Supreme Court in Bermuda to appraise the value of the shares to be acquired by the Offeror. Accordingly, all remaining shares in Dockwise will be acquired by the Offeror on or about 26 April 2013 against payment of EUR 18.50 / NOK 137.65 in cash per Dockwise share. Following such acquisition, the Offeror will hold 100% of the shares in Dockwise.

Source: Dockwise

The project relates to the expansion of the Malampaya Gas Field by means of an additional compressor platform next to the existing gas production platform. The work, executed by Boskalis Offshore, comprises a number of different offshore activities. To prepare the seabed for the installation of the platform soils will be excavated to a level of sufficient bearing capacity and deposited at a designated area. Gravel pads will be installed as foundation for the platform footing. The rock involved will be sourced from local Philippine quarries. Once this preparatory work has been concluded the Depletion Compression Platform will be towed to the site, positioned and installed by four heavy anchor-handling tugs (AHTs). To provide stability to the platform iron ore gravel ballast will be placed in each of its four footings immediately after the installation. The existing gas production platform and the newly installed compression platform will be connected via a permanent bridge. This bridge will also be placed by Boskalis Offshore and marks the conclusion of the project.

For this project, which commences early 2014 and ends in late 2014, Boskalis Offshore will deploy its new multi-purpose construction vessel Ndeavor, two 200 ton bollard pull AHTs and two 100 ton bollard pull AHTs. The Ndeavor, which will be commissioned in the second half of 2013, plays a pivotal role in this project by executing the seabed excavation and rock installation work, by providing support during the installation of the platform as well as by ballasting the footings of the platform and installing the permanent bridge between the two platforms.

The Malampaya  Deep Water Gas-to-Power Project is a joint venture of the Philippine National Oil Company, Chevron and Shell Philippines Exploration B.V. (SPEX, operator of the gas project). The gas from the field is transported onshore by pipeline where it is being used as feedstock by a number of power plants.

Boskalis’ strategy is aimed at benefitting from key macro-economic factors which drive worldwide demand in our markets: expansion of the global economy, increase in energy consumption, global population growth and the challenges that go hand in hand with climate change. This project closely relates to the increasing energy consumption.

Source: Boskalis

Singapore’s third straight decline on the annual World Competitiveness Yearbook (WCY) ranking has put it behind the US, Switzerland, Hong Kong and Sweden.

The US reclaimed pole position on the league table of 60 economies, thanks to the recovery of its financial sector and strong technological innovation. But last year’s top-ranked Hong Kong fell to third place after being overtaken by Switzerland, while Sweden overtook Singapore to place fourth.

“Singapore is the victim of the domino effect of the economic slowdown in Asia and elsewhere too,” said Stephane Garelli, director of the IMD World Competitiveness Centre, which has been calculating the competitiveness of nations since 1989.

Prof Garelli noted that the economy barely grew 0.2 per cent year on year in the first quarter, and for all of last year, Singapore’s GDP grew an anaemic 1.3 per cent. The slowdown has been attributed to export sectors being hit badly by weak global demand, as well as domestic manpower constraints across industries.

Meanwhile, inflation stayed elevated, though it fell to a three-year low of 1.5 per cent in April after policy changes wrought a plunge in car prices.

This poorer performance on measures such as real GDP growth and consumer price extended Singapore’s downward slide in the 2013 “economic performance” ranking from 5th in 2011 to 9th in 2012, down to 13th this year.

But it was not solely the global slowdown. The impact of Singapore’s ongoing push to restructure its economy towards productivity-led growth has also raised the risks of R&D facilities and production being relocated abroad too. This is based on WCY’s survey of an average of 70 executives in each of the 60 economies covered. Its survey data complements hard data from international, national and regional bodies on 333 factors in four main areas, from which the economy’s overall score is derived.

Last year, Singapore could still lay claim to being ranked 2nd for “government efficiency” and “business efficiency”, but not this year.

Factors such as weaker social cohesion pushed Singapore’s government efficiency rank down to third, while the economy slid six rungs down the business efficiency leaderboard. This was due to sharp declines in factors such as productivity, efficiency and the labour market, as businesses adjusted to more restrictive foreign manpower policies.

Barclays economist Leong Wai Ho said that the large drop in Singapore’s domestic economy, labour market and price rankings does coincide with the start of Singapore’s restructuring drive.

As smaller companies wean themselves off a reliance on cheap, low-skilled foreign workers and adjust to the economy’s higher cost structure, they will initially lose some competitiveness but should gradually regain productivity in time, he added.

But Mr Leong expressed surprise that Singapore lost ground on the infrastructure rankings too, from 8th place last year to 12th this year. “This is probably also transitory, since we are spending huge amounts to refresh and extend our rail infrastructure over the next two decades,” he added.

The WCY said that Singapore still has a place alongside economies such as the US and Canada, ones with “very stable and enduring competitiveness models that rely on long-term advantages such as technology, education and advanced infrastructure”.

But Prof Garelli said that Singapore is also “moving into a new stage of competitiveness” where it will begin to face more competition from its neighbours for low-cost activities. “Singapore needs to pursue a strategy of growing niche industries, but in many different sectors to diversify the economy,” he said.

Mr Leong thinks that to minimise the fall in competitiveness, Singapore needs to “complete this structural quantum leap to a higher cost structure as quickly as possible”.

Then, the economy can begin to define its new value proposition more clearly. “Higher cost, but hopefully much higher value-added – like the Swiss and German models – centred on precision manufacturing and innovation,” he said.

Source: The Business Times

Governments around the world are increasingly using tax as a tool to achieve green policy goals and make corporate behavior more sustainable, according to KPMG’s Green Tax Index which was recently launched.

The United States of America, Japan, United Kingdom, France, South Korea and China are the most active in using tax as a tool to drive sustainable corporate behavior and achieve green policy goals.

Singapore is ranked as the 14 tax system weighted towards incentives rather than penalties.

This finding is contained in KPMG’s first Green Tax Index, which considers how governments are using their tax systems to respond to global challenges including energy security, water and resource scarcity, pollution and climate change. It analyses green tax incentives and penalties in 21 countries, focusing on key policy areas such as energy efficiency, water efficiency, carbon emissions, greeninnovation and green buildings.

The report identified over 200 individual tax incentives and penalties of relevance to corporate sustainability. At least 30 new green tax incentives, penalties or significant regulation changes have been introduced in the countries since January 2011.

Source: Singapore Business Review

The monumental failures in risk management, a spate of accounting scandals and outright fraud propelled corporate governance to a new phase driven by a yearning for market discipline, competencies of Boards of Directors, and a culture of ethical conduct and values.

Though it only launched its corporate-governance journey in 2001, Singapore was ranked as the Asian market with the highest standards of corporate governance in 2012, according to the Corporate Governance Watch.

This report was the 9th survey of corporate governance across Asia since 2000, co-produced by CLSA Asia-Pacific Markets (CLSA) – Asia’s leading and longest-running independent brokerage and investment group – and Asian Corporate Governance Association (ACGA).

In the last five years, there has been an increase in regulatory scrutiny and demand for the implementation of profound risk management, finance and governance processes in a bid for more transparency across the region.

In addition, with the many regulatory changes in Asia, there has been an increase in companies performing gap analyses between the companies’ current situations and the future landscape desired by the regulators – driving higher internal standards for governance and risk management.

However, the actions of financial institutions should not be motivated by solely maximising their return. Additionally, they should be driven by the level of the organisation’s risk appetite.

Without this change, confidence in this sector will not be restored and a sustainable future for financial institutions will not be guaranteed.

The industry is aware of the strategic difference, but is only now starting to make the required changes.

Risk appetite reflects the degree in which financial institutions are willing to accept risks when pursuing their objectives and the degree in which they are able to define and manage their willingness to accept risks. Banks, insurers and pension funds have all been dramatically affected by the financial crisis.

Today, they are more than ever convinced of the strategic importance of shaping the risk appetite across their organisations to win back customer confidence.

Recently, CPI Governance, CPI Asia’s parent company, led a study sent to 500 directors and supervisory directors of banks, insurance companies and pension funds with the objective of defining and analysing their vision on risk appetite, to determine insights into how much each respondent accepts risk when pursuing objectives and whether that risk appetite is controlled within agreed-upon tolerance levels.

The study also set out to define and analyse relevant trends and address the relationships between risk appetite, the mission/identity and the strategy of these financial organisations.

The survey comprised both quantitative and qualitative aspects and garnered response from 78 executives, equally divided over the three sectors. Three quarters of the respondents agree with the strategic importance of shaping risk appetite and believe the following must happen to improve their organisation’s trust with key stakeholders:

Increase risk awareness across the organisation
Adopt better strategic planning risk-oriented processes and procedures
Support decisions related to capital allocation and risk

If banks, insurers and pension funds want to secure their sustainable future, they have to shape risk appetite by combining ‘hard’ measures with a change in behaviour and culture, whilst linking their risk appetite to their strategy and social objectives.

Industry-leading organisations are making progress in introducing ‘hard’ measures. This involves adapting to internal governance structures and organising ‘countervailing powers’, with the intention to balance risks and returns.

It is critical to reorganise remuneration incentives since more than 70 per cent of the study’s respondents think that there is room to improve remuneration incentives by correcting the financial performance as part of the remuneration policy for estimated risks and costs of capital.

Finally, risk appetite must be embedded into decision-making processes through specified risk tolerances and limits, and by controlling these processes.

At present, the industry forerunners are focused on applying the above-mentioned measures more deeply throughout their organisations under the scrutiny of the management board.

Though driving and realising a change in behaviour and culture and knowledge development is even more vital for financial institutions then the ‘harder’ measures, less progress with these ‘soft’ measures is still typical.

Almost 60 per cent of the respondents state that risk appetite is not discussed with sufficient depth in meetings between the management board and the supervisory board.

On average, 45 per cent of the respondents think that there still is insufficient knowledge within these bodies to conduct discussions with sufficient depth on risk profile, capital allocation and liquidity issues.

Supervisory directors think that they themselves should pay more attention to the necessary change in culture and behaviour and want to see this placed on the agenda more often. They also think that external supervisors should focus more on behavioural issues in order to increase the pressure on the change process.

A number of prominent leaders in the financial sector realise that it is necessary to link risk appetite to the strategic and social objectives to build a strong reputation. They are leading the charge in the race to establish a link with the social function of the financial institution.

Future successful financial institutions will broaden their shareholder’s philosophy to a stakeholder’s philosophy. They will explicitly consider the interests of all stakeholders and communicate this in an effective way.

Instead of focusing solely on returns, the spotlight will be increasingly on risk appetite as the foundation for broader stakeholder interests. At the same time, external supervisors should focus more on the behavioural aspects in order to increase the pressure on the change process.

Source: Singapore Business Review

Dutch Chamber of Commerce (Singapore)

c/o EuroCham

1 Phillip Street

#12-01 Royal One Phillip

Singapore 048692

Tel: +65 6536 7750

e-mail:info@dutchcham.sg

We are very pleased to be co-located with the European Chamber of Commerce in Singapore (EuroCham) as their guest tenant.

This new office is located in the heart of the Central Business district (CBD) and accessible from both Church Street and Chulia Street.

Please update your address book with this new address.

To start with ferries to frigates with flight decks, the DAMEN Shipyards Group could build, repair and maintain them. We always aim for what customers need or wish. That is important for building activities and as well as for our services. We at DAMEN Shipyards Singapore are operating in aluminium High Speed Craft markets such as offshore support vessels, wind farm maintenance vessels, passenger transport, patrol craft for military and semi-military and crew tenders.

Globally operating makes DAMEN never too far away. We build long series of highest quality competitively priced vessels on speculation resulting in unmatched delivery times and added value for their clients. With a worldwide network of associated companies it is ideal to support their clients everywhere.

Damen Shipyards Singapore Pte Ltd
29 Tuas Crescent
Singapore 638720
T: +65 6860 8727

www.damen.com.sg

Damen Shipyards Singapore Pte Ltd Business/Industry: Shipyard Number of staff in Singapore: 95 Country of Origin: Netherlands Year of Establishment: 1935 Website: www.damen.com

What does Damen Shipyards Singapore Pte. Ltd. stand for?

To start with ferries to frigates with flight decks, the DAMEN Shipyards Group could build, repair and maintain them. We always aim for what customers need or wish. That is important for building activities and as well as for our services. We at DAMEN Shipyards Singapore are operating in aluminium High Speed Craft markets such as offshore support vessels, wind farm maintenance vessels, passenger transport, patrol craft for military and semi-military and crew tenders.

Globally operating makes DAMEN never too far away. We build long series of highest quality competitively priced vessels on speculation resulting in unmatched delivery times and added value for their clients. With a worldwide network of associated companies it is ideal to support their clients everywhere.

Why is Singapore a good location for Damen Shipyards Singapore Pte. Ltd.?

Founded by two brothers in 1935, today Damen Shipyards has more than 6,000 employees spread over 20 companies worldwide. Being active in Singapore since the yard was bought in 2001. Furthermore is Singapore the excellent hub regarding to the marine industry.

The rising wages and tight labour market Singapore faces are one of the biggest challenges here. In 5 years time they would like to see their productivity of the Yard grow with approximately 30 percent. For the long term they plan to establish smarter production processes.

What can you describe as the achievements of your company?

Our success here is to deliver one vessel every two to three weeks. We have some really exciting partnerships wherein we rely on many partners being able to operate on a highly flexible level.

Innovation can be found in both products as well as in production techniques. This due to the large volumes the R&D costs which do not have a negative effect on price of the vessel anymore but positive. The client gets the latest and best technology as well as quality against market level prices.

The innovative nature of the company is mostly the key driver to buy from Damen. While innovations will make sure the vessel is able to generate a higher added value for the customers. This could be measured as a higher return, higher uptime, higher sustainable speed, better comfort or shorter delivery period. To make this work it is important to target the right markets.

In his proposal on “The Use of Blue Energy in a Delta Environment”, Yorick Broekema explores the potential of generating blue energy by using excess flood water. He evaluates the applicability and value of his ideas for Singapore and the Netherlands, considering the specific circumstances in both countries. Yorick is currently enrolled in the NUS/TU Delft double degree program in Water Resources Management en Hydraulic Engineering.

Leng Ling and his team are doing their Masters in Environmental Engineering at Hong Kong Polytechnic University. They looked at the growing freshwater shortages and the disadvantages associated with the current use of seawater for toilet flushing in Hong Kong. They propose a compact and environmentally friendly greywater treatment and reuse system based on a parallel operation of two processes to deal with flow variations.

The full announcement has been posted on the website and will be published in several media. All names of partners and sponsors have been given recognition. Please feel free to re-post the article on your organisation website, Facebook, Twitter, etc. http://bit.ly/13VTWL4

The winners will be presented with their award in Singapore. We will inform you about the details of the event soon.

The problem apparently stems from difficulty in finding staff with the right skills.

The results were culled from a poll of nearly 40,000 employers in 42 countries and territories during the first quarter of 2013.

According to the results, employers in Singapore are having the most difficulty filling job positions requiring office support, supervisors and labourers.

54 per cent of Singaporean employers surveyed have indicated they will re-look their work models, while 41 per cent said they will increase their focus on improving the talent pipeline, such as building a succession management approach.

Source:channelnewsasia.com

Average life expectancy at birth stood at 82 years in 2011, making it a joint fourth with Italy.

Women here can expect to live to 85 and men to the age of 80.

The top three countries were Japan – which has a female life expectancy of 86 and a male life expectancy of 82 – Switzerland and San Marino.

All three have an average life expectancy of 83, far outstripping the global average of 70. Sierra Leone fared worst with a mere 47 years.

Professor Chia Kee Seng, dean of the Saw Swee Hock School of Public Health, said Singapore now needs to focus on extending the quality of life through preventing and delaying the onset of chronic diseases and, where they exist, slowing down their progression.

The WHO report also compares current life expectancy to that in 1990 and 2000.

In 1990, Singapore was 29th in the world with an average life expectancy of 75; people in Japan and San Marino, a tiny country with a population of 33,000 people surrounded by Italy, were living until an average age of 79.

Dr Chia Shi Lu, a member of the Government Parliamentary Committee for Health, said a “key factor” in Singapore’s longevity “is the excellent child and maternal health services and childhood disease prevention programmes”.

The Republic has one of the lowest infant mortality rates (2.59 per 1,000 live births) and maternal death rates in the world.

The MP for Tanjong Pagar GRC, a doctor himself, added: “Health care in Singapore at both the preventive and therapeutic levels is reasonably accessible and of good quality.”

Many people here are living beyond the average of 82. A Singaporean who was 60 in 2011 could expect to live another quarter century, according to the WHO.

Singapore is one of 13 countries where 60-year-olds can expect to live 25 more years. Only Japan fares better with an average of 26.

This, said Professor Chia, is a better yardstick, since total life expectancy is often driven by infant and child deaths.

As countries develop economically, this will fall, he said and “mortality from chronic diseases becomes the main driver”.

He pointed out that countries with large rural populations generally have lower life expectancies as rural communities tend to have higher deaths among children.

Prof Chia said another measurement known as the Disability-Adjusted Life Years is becoming an increasingly popular yardstick. This takes into account quality of life, including the amount of time a person spends living with disability, such as being paralysed after suffering a stroke, he explained.

Parliamentary Secretary for Health Muhammad Faishal Ibrahim has been tasked with developing a Healthy Living Masterplan to encourage people here to exercise regularly, eat properly and keep chronic diseases under control.

He said: “I’m heartened by Singapore’s improved ratings in life expectancy. As Singaporeans live longer, we also want to see them remain well so that they can enjoy their twilight years with their loved ones.”

Source: Strait Times

The Eurostat data agency said that March exports on a monthly comparison rose 2.8 per cent while imports fell 1.0 per cent.

For the 27-member European Union, there was a trade surplus of 15.8 billion euros, up from 1.7 billion euros in February.

A trade surplus is one of the main factors of growth in an economy, although if it reflects also a strong fall of imports because of weak demand internally, the trend may not be so bright.

Eurozone powerhouse Germany, the world’s second-biggest exporter after China, more than accounted for the positive Eurozone figures with a March trade surplus of 30.4 billion euros.

Fellow Eurozone members the Netherlands and Ireland followed with trade surpluses of 9.3 billion euros and 5.1 billion euros, respectively.

The largest March trade deficits were reported by non-euro Britain with 17.9 billion euros, and euro states France on 15.3 billion euros, Spain 3.8 billion euros and Greece 3.7 billion euros.

Howard Archer at IHS Global Insight said the improved Eurozone trade performance in March may have helped limit the economy’s first-quarter downturn — announced on Wednesday as a contraction of 0.2 per cent.

That outcome still left the Eurozone economy in recession for a sixth quarter running.

Archer said that export gains in the first quarter were “relatively decent” given stuttering global growth and a spike in the value of the euro.

At the same time, the fall in imports “points to weak domestic demand,” he said.

“It is vitally important for the Eurozone that global growth improves as 2013 proceeds, thereby boosting exports and facilitating the single currency area’s exit from recession that has now lasted a record six quarters,” Archer added.

Separately, Eurostat also published its second estimate of inflation for April, left unchanged at 1.2 per cent and down sharply from 1.7 per cent in March.

The European Central Bank has an inflation target of close to but just under 2.0 per cent and the figures have been well within this limit for three months.

IHS Global Insight said the April outcome marked a 38-month low and was a possible sign of building deflationary pressures — potentially another concern as that would signal demand falling further.

“The Eurozone has many economic problems at the moment but inflation is clearly not one of them.

“Indeed, deflation is perhaps becoming more of a risk than inflation for the Eurozone, although it remains unlikely for now at least.”

Source:channelnewsasia.com

With the theme of “Water Security and Water-related Disaster Challenges: Leadership and Commitment”, Dr Balakrishnan will deliver a statement on Singapore’s experience in water management.

This will be at the Leaders’ Forum on May 20, where Heads of States and Governments, Ministers and top executives from international and regional organisations, as well as the private sector, will be in attendance.

The APWS is organised by the Asia-Pacific Water Forum (APWF) and was first held in Japan in 2007.

source: www.straitstime.com

In May alone, the two have locked horns over solar panels, steel tubes and telecoms equipment, sparking fears of a trade war between two of the world’s biggest trading partners.

Analysts said the increase in tensions could simply reflect the fact that both are feeling the pressure from a sharp economic slowdown.
China grew at its slowest pace in 13 years in 2012 while the EU economy, sapped by the debt crisis and soaring unemployment, is mired in a record-long recession.

“I think the fact that the EU is in a negative growth spiral cannot be divorced from their trade actions with China,” said Sergio Marchi, head of the Marchi Group management consultancy and former Canadian International Trade Minister and ambassador to the World Trade Organization.

EU political leaders “at this time of job losses and economic hardship want to demonstrate to their constituents that they are tough in the face of any challenges from China,” Marchi said.

But the danger is that they go too far.

“The EU must be careful in not overplaying its hand. China understands politics but they don’t like being put on the public spot, especially if it runs the risk of losing face publicly.

“If they decide to fight back, then the EU might be facing a lose-lose scenario,” Marchi added.

Zhang Hanlin, professor at the University of International Business and Economics in Beijing, said the main loser in any trade war would “certainly be the EU, EU consumers and EU industry, not China.

“The EU is recovering and definitely needs the support of the global market because the EU, like China, is an economy that depends a lot on foreign demand,” Zhang said.

The stakes are enormous. EU exports to China totalled $212 billion last year, with imports $334 billion, making theirs one of the biggest trading relationships in the world.

Analyst said the risks are even greater with a new political leadership in Beijing which may be more sensitive to slights.

So far, their response has been firm but guarded.

China “does not want … a trade war,” Chinese commerce ministry spokesman Shen Danyang said this week after the EU threatened an anti-subsidy probe into telecoms imports.

“We hope the EU will not take actions that do no good to either side.”

Brussels was careful too in announcing the telecoms probe, highlighting it as a “decision in principle” taken pending “negotiations towards an amicable solution with the Chinese authorities.

The EU is not blind to other Chinese sensitivities.

For example, Beijing has expressed concerns over what it sees as US efforts to contain its power in Asia and the Pacific as President Barack Obama ‘pivots’ back to the region.

It has also noted EU-US plans for what could be the biggest Free Trade Agreement in the world.

An EU official said that during last month’s visit to China by EU foreign affairs head Catherine Ashton, Chinese officials had “mentioned again” the possibility of Brussels and Beijing concluding an FTA.

While the EU feels an investment protection accord would be best at this stage, the official said the EU had reassured Beijing a US accord was “not aimed at closing the transatlantic relationship” but rather at opening it up, including to China.

“Europe is poised to launch this process as soon as China is ready and we look forward to working with the new Chinese government to reach a deal,” EU trade spokesman John Clancy said on May 17 of the investment accord.

“This would be a first step — when we see progress in these talks with China (we could) also envisage to consider an FTA,” Clancy added.

At the same time as there have been disputes, there have also been agreements.

Earlier this month, for example, the European Commission approved a $900-million tie-up between Sweden’s Volvo Trucks and China’s Dongfeng Motor which will create the world’s biggest lorry maker ahead of Germany’s Daimler.

“I would not give the current trade spats … more importance than they are due,” said European Liberal Democrat lawmaker Sir Graham Watson.

“Dumping investigations are the normal currency of international trade… during the last Commission, it was all about shoes and bras,” Watson said.

“The Brussels-Beijing relationship will go on as before.”

Source: Channelnewsasia.com

The world’s third-largest beer maker said in a statement its venture was with privately owned Alliance Brewery Co Ltd (ABC), majority-owned by local spirits entrepreneur Aung Moe Kyaw.

The venture, APB Alliance Brewery Co Ltd, will invest US$60 million to build a brewery near Yangon, the largest city and main commercial centre. It should be operational by the end of 2014.

Heineken, whose subsidiary Asia Pacific Breweries Ltd (APB) will own a 57 per cent stake of the venture, said its announcement followed the European Union’s decision last month to lift sanctions, except on arms, against Myanmar.

Heineken last year took full control of APB to boost its presence in rapidly expanding Asian markets, such as Vietnam. APB had withdrawn from Myanmar in 1996.

Heineken follows a number of other western businesses into Myanmar, including Carlsberg, Ford, Coca-Cola and PepsiCo, as the country emerges from more than a decade of isolation.

Source: Reuters

“I would go long on the currencies in Southeast Asia,” Peter Ter-Kulve, the London- and Rotterdam-based company’s chief executive officer for Southeast Asia, said in an interview on May 10. “Most of the monetary policies are very robust at the moment and the currencies are a testament to the fundamental strength of the economies we are in.”

Unilever uses a so-called “natural hedge” against currency swings by sourcing and producing products in local markets, The Southeast Asia’s currencies are among the best performers in Asia this year, led by the Thai baht and Malaysian ringgit. Growth in Southeast Asian nations may average 5.4 percent this year, and quicken to 5.7 percent in 2014, according to the Asian Development Bank which predicts a 1 percent expansion in advanced economies this year.

Southeast Asian currencies may face pressure from overseas inflows amid quantitative easing from major central banks, according to Enrico Tanuwidjaja, a Singapore-based economist at Royal Bank of Scotland Group Plc.

More Savvy

“But it’s not going to be a one-way street for all of them because it’s going to be treated differently,” Tanuwidjaja said in a May 10 phone interview. “One thing that is positive is that regional central banks are more savvy, they are more prepared and they have a lot more policy tools. That’s a common thread among Southeast Asian countries and it’s a very good sign.”

Thai Finance Minister Kittiratt Na-Ranong said on May 10 the central bank should cut the keyinterest rate by more than a quarter of a percentage point or implement capital controls to stem the baht’s rise.

Ter-Kulve is especially confident about Unilever’s prospects for Indonesia, calling it the “big gorilla.” Sales at its publicly traded company in the region’s biggest economy reached 1 billion euros ($1.3 billion) after 80 years, and took only four years to double to 2 billion euros.

Indonesia’s economy expanded 6.2 percent last year, with growth forecast to increase to 6.6 percent in 2015, according to a Bloomberg survey of 24 economists.

‘Indonesian Decennium’

“I have a lot of confidence that the next 20 years will be the Indonesia decennium,” Ter-Kulve, 48, said. “At a certain point you can’t stop the flying wheel any more. Too many people are turning into the middle class.”

Still, he expects short-term stumbling blocks for the region, such as Indonesia’s elections next year.

The ruling Democrat Party chose the country’s president, Susilo Bambang Yudhoyono, as chairman ahead of national elections next year amid jockeying among possible replacements that could stall spending on roads and ports. He was elected March 30 at an extraordinary congress in Bali to succeed Anas Urbaningrum, who resigned after becoming at least the third senior party official linked to corruption allegations in less than two years.

He’s also concerned about the increase in the price of some food products. The cost of whole milk powder has surged about 90 percent this year through the end of April as a drought in New-Zealand curbed milk collection and the cost of orange juice has climbed 19 percent since January.

“There is a lot of volatility in the market, but we are able to deal with it,” he said in a Bloomberg Television interview with Haslinda Amin, adding that Unilever is hedged against price rises for the “next three to six months” before passing it on to consumers.

‘Another Vietnam’

Unilever will also focus on opportunities in new markets in Southeast Asia, such as Myanmar, which he said could be “another Vietnam” in 20 years. The company is already selling its products through 100,000 outlets in the country

Emerging markets made up more than half of Unilever’s revenue in 2012, it said in its annual report. They offered “double-digit” growth in countries including Indonesia and Vietnam, he said.

Ter-Kulve, who called Ben &Jerry’s ice-cream his favorite Unilever product, plans to promote the brand with outlets in Southeast Asian capital cities similar to those in Singapore , declining to elaborate on the timeframe.

“Economies are growing and incomes are rising,” he said, adding that “the political situation is stable compared to other parts of the world.”

Source:bloomberg.com

De informatie-  en communicatiemedewerker is verantwoordelijk voor de communicatie van de ambassade in brede zin. De medewerker onderhoudt de website, stuurt nieuwsbrieven uit en beantwoordt vragen van burgers van algemene aard. Daarbij onderhoudt hij/zij intensief contact met de economische afdeling. Hij/zij is voortdurend op zoek naar nieuwsfeiten waarmee – via verschillende media – aandacht gegeneerd kan worden voor Nederland en de activiteiten van de ambassade. De werkzaamheden sluiten naadloos aan bij de ‘branding’ van de ambassade.

De medewerker heeft een breed takenpakket dat onder meer ook Brunei en IT-zaken omvat. Hij/zij is daarnaast flexibel inzetbaar voor andere taken. Er bestaat een vervangingsrelatie met de persoonlijk assistent van de Ambassadeur.

Vereisten voor de functie:

kennis en vaardigheden op het terrein van communicatie en gerelateerde IT-zaken;

uitstekende mondelinge en schriftelijke uitdrukkingsvaardigheden;

flexibele werkhouding;

goede organisator, resultaatgericht en stressbestendig;

kan goed zelfstandig werken, initiatiefrijk maar vooral ook een teamspeler;

en goede kennis van de Nederlandse en Engelse taal.

Arbeidsvoorwaarden:

Het gaat om een lokaal contract voor de periode van 1 jaar met daarna de mogelijkheid van een contractverlenging. Beoogde startdatum uiterlijk 1 juni. Het betreft een functie op schaal 6 niveau conform de lokale salaris-schalen van het ministerie van Buitenlandse zaken. Sollicitanten dienen in het bezit te zijn van een werk- en verblijfsvergunning voor Singapore.

Informatie:

Voor meer informatie over deze functie kunt u contact opnemen met mevrouw Pauline Eizema (Plaatsvervangend Chef de Poste): telefoonnummer +65-6739 1116,

email: Pauline.eizema@minbuza.nl

Sollicitatie:

Geïnteresseerden kunnen tot uiterlijk 17 mei reageren door het sturen van een gemotiveerde sollicitatiebrief met een recent CV naar pauline.eizema@minbuza.nl.

The three government agencies said “we stand ready to partner the tax authorities of Australia, UK and US in the investigation of structures that may be involved in wrongdoing”.

They also pointed out that tax authorities of these countries are analysing their data to determine if such structures have been used for any wrongdoing.

“Singapore will assist them to the fullest extent possible under our laws and tax agreements,” the statement added.

The Singapore authorities are also looking into whether any tax offences have been committed in Singapore.

They have started requesting these tax authorities for the data of entities linked to Singapore to be shared with Singapore.

As part of IRAS’ ongoing programmes to ensure compliance with tax laws in Singapore, IRAS audits and conducts investigations into entities that use offshore structures to conceal income and avoid being taxed here.

Source: Channel News Asia

In a release, Teho International Inc Ltd announced that the Group has entered into a sale & purchase agreement with Alvin Chee Siong to acquire 100% of the total issued and paid-up capital of Seanly Technical Singapore Pte Ltd or a total consideration of up to S$2.5 million.

Seanly is a company incorporated in Singapore since May 2008 and specialising in the trading of reverse osmosis desalination products and other water related equipment for use in ships and other marine vessels.

Seanly also owns a 49% shareholding in STS Seanly Marine Sdn Bhd, a company incorporated in Malaysia and specialising in providing marine and engineering services while also trading in related marine and engineering hardware and accessories.

Commenting on the acquisition, Mr. Lim See Hoe, Executive Chairman and CEO of Teho, said, “The acquisition of Seanly is part of the Group’s long term strategy of expanding its business by enhancing its capabilities in the offshore oil and gas industry. This move will provide us with the platform to cross-sell enlarged range of products and services, leading to a larger client base and increasing channels for growth.”

Teho’s current core business is the supply of rigging and mooring equipment as well as related services to customers mainly in the marine and offshore oil and gas industries.

The total consideration of up to S$2.5 million will be paid by Teho through a combination of shares and cash and over a few stages.

Source: TEHO

UNIT4 and Fujitsu will combine their activities and capabilities in order to meet the growing demands of their global and local customers. Medium and large businesses will be able to benefit from reduced costs as well as an expanded range of solutions that are precisely tailored to their needs. Customers will be offered a complete business solution: the leading business software from UNIT4 and the technology and service components from Fujitsu.

The ‘Alliance Partner Agreement’ between UNIT4 and Fujitsu was signed in Germany and is valid internationally. The activities undertaken will be tailored for each country.

UNIT4 is well known internationally for its focus on Businesses Living in Change (BLINC), organizations which experience a high rate of change due to growth, market change, compliance and so on. Its solutions are designed to help such organizations survive and thrive in fast-changing environments.

“The global partnership with UNIT4 makes sense,” said Annette Kuhn, Head of Alliance Program at Fujitsu Technology Solutions. “It will complement our portfolio with reliable business software solutions. UNIT4’s innovative software architecture fits well with our notion of ‘shaping tomorrow with you’. Both vendors provide market leading enterprise technology, so our customers (both current and future) will be well-supported with pioneering systems that provide more IT efficiency and flexibility.”

“The global partnership with Fujitsu is an important step for us on the way to growing our partner system consistently,” said Michael Mors, CEO of UNIT4 Business Software GmbH. “We are proud to have such an important partnership with Fujitsu to broaden our global customer base. Our customers will find this greatly beneficial, as we work hand in hand with Fujitsu.”

Source: UNIT4

Name company:  Expereo Singapore Pte. Ltd.

Business/Industry: IT Services

Number of staff in Singapore: 30

Headquarter Country : Netherlands

Year of Establishment: 2008

Website: www.expereo.com

Interviewed guest: Ivan LandenPosition: Managing DirectorProfessional background (short): University of Amsterdam (1995), Infonet, StarHub, British Telecom Nationality: Netherlands Lives in Singapore since: on and off since 1999   Family: married,  1 daughter Your favorite quote: Lead, follow, or get out of the way! Your favorite management book: If you’re in sales, watch ‘Glengarry Glen Ross

Company services/products

Expereo is the global leader in managed internet access services for enterprise customers, with services in over 170 countries and over 7,000 end customers under management.

Several trends are shaping the corporate IT landscape of multinational companies; With ever more users and locations and an ongoing need to control global IT spend, more and more companies adopting cloud-based applications and are outsourcing their network infrastructure to global service providers. Expereo supports those service providers with internet access services in virtually every country on the planet.

So, while the business operations might expand into remote corners of Africa, or the Pacific Islands or new countries like Myanmar, we have the internet access services available to support their business.

Our reach and specialization means we can offer companies reliable performance and management control on a global basis, at a total cost lower than doing it in-house.

Company is operating in Singapore/NE Asia market

Expereo was founded in Amsterdam, Netherlands in 2004 and our office in Singapore started in 2008. It now employs 30 staff supporting customers and channel partners in the Asia Pacific region. Here in Asia we have not expanded yet beyond Singapore, but with our current growth (32% growth in revenues last year) it’s a matter of time before we do so.

Asia Pacific is a clear growth market for us, but the dynamics are a bit different compared to other regions. Asia is traditionally a market with high demands on both service and price, especially from our Japanese customers, who probably have the highest requirements on quality and support.

Company’s success stories

Asia Pacific is clearly an exciting region since the attitude is much about optimism and growth, compared with North America and Europe where recession and cost-cutting is dominating. Key for us to keep listening to our customers as they continue to make us better and continue to push ourselves into new areas.

Our new service launch in Myanmar is a recent example of how we continue to expand our capabilities. Now we just have the final frontier: North Korea. The recent visit by the CEO of Google and recent launch of 3G services makes us hopeful!

 
Singapore has 5000 maritime companies that employ 170,000 people, and the sector contributes 7 percent to Singapore’s GDP. The Maritime Cluster Fund-Productivity Programme will co-fund business initiatives such as business process re-engineering, automation and adoption of other productivity tools or practices. Singapore’s harbor craft sector was singled out as a potential beneficiary of the MCF-Productivity Programme. The Maritime Port Authority (MPA) will be working with these operators to review the sector’s highly fragmented market structure and identify opportunities for productivity improvements. These may include redefining business models, developing new harbor craft designs, redesigning jobs and up skilling harbor craft workers. The government will also continue a maritime research and development kitty for another $50 million injection. The Maritime Innovation and Technology (MINT) fund, started in 2003 with S$100 million, has doled out S$93 million to date to develop automated guided vehicles for Singapore’s port and ballast water treatment systems for ships.

Source: Strait Times

Events get under way with the arrival of Queen Beatrix and her son at the Royal Palace on Amsterdam’s Dam Square, for the signing after 10 a.m. local time of the 75-year-old monarch’s instrument of abdication after 33 years on the throne. The city authorities say they’re expecting at least 800,000 visitors. The celebrations on Queen’s Day, a national holiday, will be mirrored across the country with concerts and fairs. Dutch television is broadcasting 14 hours of live programming.

The nation could use some additional revenue and positive sentiment after the economy slipped into its third recession since 2009 andunemployment almost doubled to 8.1 percent over the past four years. Prime Minister Mark Rutte  has postponed 4.3 billion euros ($5.6 billion) in budget cuts for next year and urged consumers to stop being gloomy and start spending. Even so, the austerity measures may be reinstated if the economy doesn’t grow strongly enough in the coming months.

“Everybody is gearing up for this, and many citizens have reacted very positively the past few months to the new king and queen,” Paul Schnabel, director of the Netherlands Institute for Social Research in The Hague, said in an interview. “People will enjoy this but after today this is all over, and the little extra spending won’t help the economy.”

Mother’s Example

Beatrix announced her intention to abdicate in January, following the example of her mother, Queen Juliana, who stepped down from the throne early in 1980. Willem-Alexander, 46, becomes king immediately when Beatrix signs the abdication document. His Argentinian-born wife, Princess Maxima, 41, becomes queen. The couple have three daughters.

He will be the first monarch to bear the name Willem- Alexander and the first king since Willem III died in 1890. Juliana’s mother, Wilhelmina, who succeeded Willem III, also gave up the throne in 1948.

After the abdication ceremony, the royals will cross the street in the afternoon to the Nieuwe Kerk , the 600-year-old gothic church where Dutch monarchs are traditionally sworn in. A total of 2,045 guests are invited to attend, including the entire Rutte Cabinet and all members of parliament. Also attending will be Britain’s Prince Charles and members of the royal families of Spain, Japan and Norway, among others.

In contrast to a British coronation ceremony, the Dutch monarch is never actually crowned, so the state regalia are simply displayed on a table during the ceremony in the Nieuwe Kerk.

Extra Police

The inauguration is costing the government 5 million euros, excluding security measures, Rutte said last month. The city of Amsterdam is spending another 7 million euros on the event, Mayor Eberhard van der Laan announced two weeks ago. Police will deploy 10,000 officers, with reinforcements brought in from all over the country. The mayor has declined to comment on specific security measures following the Boston Marathon bombings earlier this month.

There’s been trouble at Dutch royal events in the past. In 1966, Beatrix’s wedding to Claus von Amsberg, a former German diplomat who served in that nation’s army during World War II, drew protests that deteriorated into rioting, with smoke bombs thrown at police. Prince Claus died in 2002, at age 76. There were more riots at Beatrix’s inauguration in 1980, when anti- establishment groups joined squatters demonstrating amid a housing crisis in Amsterdam and difficult economic conditions.

Role Reduced

Willem-Alexander becomes king at a time when the role of the Dutch monarch in politics has been reduced. The sovereign previously played a key part in the formation of governments. Parliament decided early last year, though, that it should oversee the process of agreeing on new coalitions without the involvement of the monarch, and the Liberal and Labor parties formed a government under the new rules after elections in September.

The king has indicated he has no problems with a more ceremonial role. “I will accept everything if legislation is changed democratically and according to the rules of the constitution. I have no problems with that,” he said in a televised interview he gave with his wife that was broadcast April 17. “If it needs my signature, I will sign.”

Willem-Alexander, who has so far been formally known as the Prince of Orange, studied history at Leiden University and served in the Royal Netherlands Navy. He became chairman of the United Nations Secretary-General’s Advisory Board on Water and Sanitation in 2006. He resigned his membership of the International Olympic Comittee after his mother announced her abdication and is also giving up his UN role.

‘Protocol Fetishist’

The king said in his TV interview that he won’t be a “protocol fetishist,” and his wife said that everyone would be free to continue calling her just Maxima.

The family of the new queen, a former investment banker, won’t attend the ceremony to avoid any controversy related to her father, Jorge Zorreguieta, an agriculture minister in the military junta that ruled Argentina in the late 1970s and early 1980s. He didn’t attend her wedding in 2002 for the same reason.

“It was clear that if my father couldn’t come for the wedding, then it was also very clear for this constitutional celebration,” she said in the TV interview. “My father doesn’t belong there.”

The outgoing queen, who will now be known as Princess Beatrix, is abdicating after a personal tragedy last year when Friso, her second son, suffered massive brain damage in a skiing accident in Austria. He may never regain consciousness. His situation remains unchanged, Willem-Alexander said in the April 17 interview.

Source: Bloomberg.com

On 30 April, Queen Beatrix of the Netherlands will abdicate, to be succeeded by her eldest son Willem-Alexander, the Prince of Orange.

The Queen and the Dutch Royal Family play an important role in stimulating international trade for Dutch companies, among other things, by joining trade missions.

On the occasion of the investiture of King Willem-Alexander, ING has co-launched the Oranje Handelsmissiefonds (the Orange Trade Mission Fund), in co-operation with Royal Dutch Airlines, KLM, the Royal Association MKB-Nederland – the largest entrepreneurs’ organisation in the Netherlands – and the Dutch ministry of Foreign Affairs.

The fund will not only encourage companies to build an international network, but also provide them with opportunities and guidance on expanding their services to other countries.

Ten Dutch medium-sized enterprises will be selected for special support. They will receive assistance from ING and the co-initiators of the fund, who have extensive experience in building international networks. The selected companies will participate in official trade missions or will participate in a custom-built mission.

The selection will be made by the CEOs and presidents of the organisations mentioned above.

CEO, Jan Hommen said the initiative not only marks the investiture of the King, but also underlines the role of ING and the partners in stimulating and supporting the Dutch economy.

Source: ING.com

Queen Beatrix announced on Jan. 28, three days before her 75th birthday, that she will cede the Dutch throne to Willem- Alexander, her eldest son, tomorrow after exactly 33 years. The new king, who turned 46 two days ago, will be the Netherlands’ first male monarch since Willem III died in 1890.

Dutch television will be broadcasting 14 hours of live coverage of tomorrow’s events, which start when the queen signs the instrument of abdication between 10 a.m. and 10:30 a.m. in the Royal Palace in Amsterdam. At that moment, Willem-Alexander, known until now as the Prince of Orange, officially becomes king. The old and new monarch then appear together on the palace balcony overlooking the Dam Square.

The inauguration is costing the government 5 million euros ($7.5 million), excluding security measures, Prime Minister  Mark Rutte said last month. The city of Amsterdam is spending another 7 million euros on the event, Mayor Eberhard van der Laan announced two weeks ago. Police will deploy 6,000 officers, 3,500 brought in from other parts of the country. The mayor has declined to comment on specific security measures following the Boston Marathon bombings earlier this month.

Nieuwe Kerk

After the abdication ceremony, the royals will cross the street in the afternoon to theNieuwe Kerk, the 600-year-old gothic church where Dutch monarchs are traditionally sworn in. A total of 2,045 guests are invited to attend, including the entire Rutte Cabinet and all members of parliament. Also attending will be Britain’s Prince Charles and members of the royal families of Spain, Japan and Norway, among others.

In contrast to a British coronation ceremony, the Dutch monarch is never actually crowned, so the state regalia are simply displayed on a table during the ceremony in the Nieuwe Kerk.

The celebrations also include a reception, a river boat tour and a state dinner in the Muziekgebouw concert hall. A tour along the city’s scenic canals won’t happen for security reasons.

Beatrix succeeded her mother, Queen Juliana, when she abdicated in 1980. Juliana’s mother, Wilhelmina, also gave up the throne in 1948. Willem-Alexander is married to Princess Maxima, a 41-year-old Argentine. The couple have three daughters.

Willem-Alexander becomes king at a time when the role of the Dutch monarch in politics has been reduced. The sovereign previously played a key part in the formation of governments. Parliament decided early last year, though, that it should oversee the process of agreeing on new coalitions without the involvement of the monarch, and the Liberal and Labor parties formed a government under the new rules after elections in September.

Queen’s Day, a national holiday traditionally held on April 30, will in future move to April 27 and be renamed King’s Day, to celebrate Willem-Alexander’s birthday.

Source:bloomberg.com

Commenting on the development, Faisal Husain, Founder and CEO, Synechron said, “The acquisition of Double Effect strengthens our ambition of being a company uniquely placed to strategically guide and transform financial institutions through high end management and technology consulting capabilities. Apart from lending strategic skill-sets, the acquisition will also provide us with access to markets such as Europe and emerging markets like Asia Pacific (APAC) where Double Effect has a strong presence. Additionally, our common values of agility and focus on domain intensive consulting makes this acquisition a perfect culture fit. We are confident that their team will be a great asset to us.”

Double Effect will operate as an independent company after the acquisition and will continue to take the joint value proposition to its customers. Speaking about the acquisition, Bas Heijnen & Pablo van den Bosch, Founders of Double Effect said, “Synechron’s impressive credentials and track history in the financial services domain made them the clear choice for us. The financial services industry is at a critical juncture and our association with Synechron will augur well in addressing the business imperatives of these companies. Being a part of the Synechron team will also strongly complement, synergize our existing service offerings and catapult us to our next phase of growth.”

Synechron expects the acquisition to further accelerate its fast-track growth. The company has been growing at a CAGR rate of over 35% for the past six years to become a USD $200 mn annualized revenue entity. It has emerged as amongst the fastest growing technology consulting companies providing a range of software solutions with a micro verticalized focus in Capital Markets, Insurance, Mortgage Banking, Energy and Commodities, Securities Finance and Digital Media.

In the past, Synechron has followed a joint strategy of organic and inorganic growth. Over the last six years, the company made three acquisitions namely 110 Technologies – a specialist provider of Testing services to Investment Banks; SysCore Solutions – an enterprise technology strategy & data architecture consulting firm and Esquire Systems – an IT consulting & services company. This has enabled the company to gain a higher level of strategic end-to-end services capabilities, a comprehensive talent base, and access across niche verticals and markets.

About Double Effect
Double Effect is a consultancy agency specialized in strategy translation and implementation in the financial services industry. Founded in 2003, Double Effect has a team of 76 consultants and  presence in Amsterdam, Singapore and Frankfurt. Unlike any other consultancy firm, Double Effect can guide financial institutions through the process of change. The in-depth knowledge and sound understanding of strategy, product, and operational processes of Double Effect’s consultants enables the optimization of their clients’ business (banks, exchanges, insurance and asset management companies). With extensive experience and solid process, technology and regulatory knowledge, Double Effect translates strategic issues and concepts into a practical implementation approach, and ensures results being firmly embedded. For more information visit www.doubleeffect.com.
About Synechron
Synechron, founded in 2001, is globally a 4000+ professionals company, headquartered in New York. It has presence across the US, Canada, UK, The Netherlands, UAE, Japan, Hong Kong, Singapore, and state-of-the-art Development Centers based in Pune, India. Synechron specializes in Banking, Insurance and Financial Technology services and its value proposition lies in its global delivery model, harnessing industry expertise from established markets such as New York, London and Tokyo with complementing technical edge through its development centers in India.

Source: Synechron

The grouping has set itself the deadline of Dec 31, 2015 for the creation of the ASEAN Economic Community.

“(For) services, there are many considerations — you are talking about standards, you are talking about safety rules, you are talking about vital sanitary requirements, so many types of regulations,” said Mr Lee.

“So these are non-tariff barriers. You can say in principle that you want to make it freer but in practice when you make the rules, it’s not easy.”

He added: “Unless ASEAN develops an effective economic community, a lot of the emphasis and focus of investors of the developed countries and the trading partners will be on China and North-east Asia … and other parts of the world and we will lose out.”

ASEAN is also going ahead with talks to kick-start the ASEAN-Hong Kong Free Trade Agreement (FTA).

Mr Lee said that in principle Singapore supports free trade and has very good relations with Hong Kong. He believes the FTA will be able to establish a broader basis for Singapore and Hong Kong to work together in both areas of goods and services.

Mr Lee noted that ASEAN has an ambitious agenda which it is in the process of fulfilling. The agenda includes the ASEAN Economic Community, the Connectivity Masterplan and the Regional Comprehensive Economic Partnership.

He urged the grouping to press on with the commitments to establish the economic community which will increase opportunities for the ASEAN member states to prosper and reduce the likelihood of conflict.

The ASEAN Summit in Brunei over the past two days has been a positive one, said Mr Lee. He added that Brunei — which is the current ASEAN Chair — had developed a consensus among the members and taken an even hand on issues.

Source: Channel News Asia

The legislative procedure for the reinstatement of the Generalised System of Preferences (GSP) is ongoing. Once adopted, Myanmar, due to its economic status as a Least Developed Country (LDC), will be allowed to benefit from duty-free quota-free access to the EU market.  At present there is no Bilateral Investment Treaty between Myanmar and any EU Member State and no full-fledged free trade agreement negotiations are foreseen in the near future. Against this background, negotiations of an investment agreement with the EU could both help Myanmar in its development strategy and its integration into the world economy and ensure that all EU investors are treated on an equal footing in Myanmar. At the occasion of the visit of Myanmar’s President U Thein Sein in Brussels on 5 March 2013, the EU and Myanmar agreed to explore the feasibility of an investment agreement.

In this context, the European Commission is launching a broad public consultation to gather views from relevant stakeholders regarding the future EU-Myanmar investment relationship. The consultation is open to all stakeholders within the EU and in third countries.

The Commission services will prepare a report on the consultation, which will be published on the Directorate General for Trade website. All contributions will be published in a document attached to the report, to the exception of those from respondents who indicate that they do not wish their contribution to be made public or as indicated in the questionnaire wish to keep certain information confidential.

They welcome your input and comments on the questionnaire, by Monday, 15 July 2013 at the latest. If you have any questions or are in need of assistance, please do not hesitate to contact them by email.

Source: European Commission

Mr Domingo De Cola, General Manager – Singapore, Indonesia, Australia and New Zealand says, “We are pleased to be marking this 80th anniversary with various special celebrations for our customers, without whom this milestone would not have been possible. On 3 May 1933, a KLM Fokker F-18 landed in Singapore, making KLM the first western airline to serve Singapore with a scheduled service. Since then, KLM Royal Dutch Airlines has been growing from strength to strength and we hope to continue soaring to greater heights with our customers!”

In celebration, KLM will launch the “KLM Says” campaign on April 1st where for 30 days, various challenges will be posted daily on www.klmsays.com. To take part participants can login using their Facebook or Twitter account. Once logged in, participants can type in the answer to the challenge or if the challenge is picture based upload a photo from a desktop, mobile phone or instagram. Prizes will be given away daily and 10 Grand prize challengers will be chosen every week to go into the main draw to be held at the end of the campaign, where they can win two economy class return tickets from Singapore to any KLM destination in the world.

In a special collaboration between KLM and Singapore’s tropical garden, Gardens by the Bay, 14 tons of tulips (around 48,000 bulbs) will be shipped from The Netherlands to Singapore via KLM Cargo. These tulips, a significant symbol of the Netherlands, will be planted and displayed at the ‘Tulipmania’ Exhibit at the Flower Dome, Gardens by the Bay from 29 April – 20 May.

To celebrate Mother’s Day, which also falls in the month of May, KLM will import 2500 tulip stalks to be given out to at Raffles Place on the 7th of May as part of the ‘KLM Loves Mum Campaign’.

The Band of KLM Royal Dutch Airlines is set to serenade and entertain visitors of Singapore Botanic Gardens for free on 11 May. Whilst on 12th May, music enthusiasts can enjoy a performance of the Band of KLM Royal Dutch Airlines at the School of The Arts (SOTA) Concert Hall. This concert will see band perform with the Singapore Winds Symphony. Guest will be the famous Dutch composer; Johan De Meij.

“With this gesture of thanks to our customers who made this 80th anniversary possible, we invite them to take part in these celebrations with which we hope to bring a bit of Dutch culture and share it with all Singaporeans,” Mr De Cola adds.

Source: KLM

The Consumer Price Index (CPI) climbed 3.5% in March from a year earlier, down from the previous month’s 4.9% inflation rate, according to the Department of Statistics.

March’s year-on-year inflation was the lowest since October 2010.

But economists say inflation is likely to pick up again in the second half of the year as underlying cost pressure is still high.

Homegrown timber flooring company Jason Parquet hires about 300 workers in Singapore, the bulk of them are foreigners.

The recent tightening of foreign worker policies has chipped away at its earnings. The firm says its current profit margin has halved from the 10% recorded in 2011, and it has no choice but to pass on some of the cost increase to customers for new projects.

Jason Parquet’s financial controller, Andrew Loke,  said: “The bulk of it comes from labour-related cost expenditure and our assessment is that it has contributed to 80% of the cost increase. Of this 80%, it consists of levy increases and also foreign worker dormitory.”

Some economists say such wage pressure and underlying business cost will likely keep inflation elevated in the latter part of the year. However, they say that in the next few months, inflation could continue to moderate as a result of falling car prices.

The sharp drop in private road transport costs – which include certificate of entitlement (COE) premiums for cars – drove headline inflation in March to 3.5%, in line with economists’ forecast.

The Monetary Authority of Singapore (MAS) said in its inflation review that private road transport costs rose 8.6%, down from 17.4% in February, reflecting weaker COE premiums and “price adjustments by car dealers following the introduction of financing restriction on motor vehicle loans”.

Accommodation cost inflation also edged down to 5.8% in March from 5.9% the previous month, while food inflation eased to 1.8% in March from 2.3% in February.

Despite the lower numbers in March, some economists warn that inflation could creep up again in the second half of the year.

DBS Bank’s senior economist Irvin Seah said: ”I think growth momentum will pick up, led by Asia, particularly China. And, that could possibly bring about higher inflationary pressure in the global economy. That could also imply higher imported inflation for Singapore. We have to bear in mind that even this correction – sharp decline to 3.5% – is still about twice as high as the historical average which is about 1.8% only.”

Mr Seah estimates that inflation could continue to ease to about 3% in the middle of 2013, before rising to 4% towards the second half of the year.

In its inflation review, the MAS also said its core inflation rate, which excludes accommodation and private road transport, was 1.7% in March, down from February’s 1.9%.

The MAS expects headline inflation to be between 3% and 4% in 2013.

Source: ChannelNewsAsia

There are likely to be even more expansions here going forward, as they “will lay the foundation for future growth”, Shell officials promised yesterday.

The new Shell plants will in turn help attract new downstream players, including surfactant and detergent makers for a start, to a new “high purity chemicals corridor” which Singapore wants on Jurong Island. This will be similar to the recent raft of synthetic rubber manufacturing investments here following greater availability of butadiene feedstock from the petrochemical crackers here.

Describing the latest projects as “two significant investments”, Shell Chemicals executive vice-president Graham van’t Hoff said: “They are part of a conscious strategy to continue investing in our existing assets to further increase their capacity and efficiency.”

Source: Business Times

Conversely, our growth strategy in attracting higher-value-added and higher-technology investments remains intact.

A case in point is Rolls-Royce’s investment to assemble the Trent aero-engines here, a knowledge-based industry that Mr Ngiam cited. The investment was in fact secured after the financial crisis broke and not before.

Many global companies such as GlaxoSmithKline and Applied Materials continue to base their high-value and innovation-intensive manufacturing functions here.

These projects have replaced low-cost, labour-intensive manufacturing and created good-paying and highly skilled jobs.

The Economic Development Board’s $500 million Future of Manufacturing initiative will further drive the development and adoption of new enabling technologies, capabilities and business models across the entire value chain.

Singapore is similarly moving up the value chain to build strong capabilities in research and development, supply chain management and HQ functions.

These capabilities complement the growth of our manufacturing industries and strengthen our position as a manufacturing location.

Contrary to Mr Ngiam’s belief, these are high-value-added industries that require technical and professional expertise, and provide Singaporeans with good-paying job opportunities.

Source : Straits Times

As part of a national effort to improve energy efficiency, companies who use more than 54 terajoules of energy annually in at least two out of the three preceding years will have to appoint energy managers, monitor and report energy usage, and submit energy efficiency improvement plans to the National Environment Agency (NEA).

Companies in manufacturing; electricity, gas and air-conditioning supply; and water supply, sewerage, and waste management are affected. The industry sector accounts for more than half of Singapore’s energy demand, reported the NEA. It added that the new measures affect about 170 companies operating around 200 sites consuming large amounts of energy.

The Energy Conservation Bill was passed in parliament last April, to ensure that large energy users apply the same rigour and best practices to energy management as they do to, for example, labour and capital. The NEA has set up a one-stop centre to assist affected companies with complying with the new regulations.

Source: Strait Times

From April 29 to May 20, the Flower Dome will be showcasing “Tulipmania”, where 20,000 tulip bulbs in a myriad of colours will be on display. These bulbs have been flown in from the Netherlands.

Other activities that will be held in conjunction with the tulip event include cultural activities such as Dutch cheese-tasting and music. Gardens by the Bay changes it displays monthly.

Said Dr Kiat W. Tan, chief executive officer of Gardens by the Bay, Dr Kiat W. Tan: “Tulipmania takes visitors on a botanical journey into the world of tulips, right here in the tropics.”

Source: Straits Times

Singapore’s Prime Minister Lee Hsien Loong, together with Foreign Affairs Minister K Shanmugam, will be at the two-day meeting.

Observers expect the South China Sea issue and achieving the 2015 ASEAN Economic Community target to top the leaders’ agenda.

The South China Sea territorial issue has threatened ASEAN’s unity and credibility. Cambodia, a China ally, refused to have the issue mentioned in a post-ministerial statement when it hosted the meetings last year.

That drew protests from Vietnam and the Philippines, and ASEAN ended up not issuing an after-conference communique for the first time in the bloc’s 45-year history.

China, Taiwan and ASEAN members Brunei, Malaysia, the Philippines and Vietnam have overlapping claims across the South China Sea, which Beijing claims in its entirety.

Observers say as host and chair this year, Brunei has the ability to be neutral.

Chairman of the Singapore Institute of International Affairs, Associate Professor Simon Tay, said: “The internal demand is really, how do these four claimants to the South China Sea, the ASEAN members, relate to the non- claimants?

“Will they drag the whole group to their point of view or does the group have to be more neutral. The fundamental difference between last year and this year is the Chinese domestic politics, the change of leader at the very top, but also through a lot of other factors including the role of the PLA (People’s Liberation Army)…these are factors which are still at play, and this coming summit may be early for China to really show its full hand.”

On the ASEAN Community 2015 target, observers say the grouping is moving in the right direction.

Co-director of the Asia Competitiveness Institute, Associate Professor Tan Khee Giap, said: “ASEAN should have done more and we know that ASEAN members don’t trade with one another a lot except Indonesia and Singapore and Singapore and Malaysia.

“The regional environment has changed. ASEAN should rightfully treat all the major economic powers equal handedly, welcome investments, regulate our markets, make it more competitive, by hosting the major investors whether it is the American, the Chinese, the Japanese; it can’t be a bad thing, it is only good for us…more than 10-15 years (after the 1997 financial crisis), ASEAN is ready and poised for higher growth. We must put our act together.”

Singapore’s Foreign Affairs Ministry says that during the Brunei summit, the leaders will also take stock of the implementation of the ASEAN Charter and discuss ASEAN’s role in the regional architecture.

Source: ChannelNewsAsia

The ABC Waters Programme earned the title of the Utility Performance Initiative of the Year at the Global Water Summit in Seville, Spain.

The award recognises PUB’s efforts at improving the long-term performance of water services to the public.

The ABC Waters Programme aims to transform Singapore’s utilitarian drains, canals and reservoirs into beautiful streams, rivers and lakes.

Source: ChannelNewsAsia

At the start of PWN Technologies by PWN, Pieter Spohr was requested to stay for a minimum of three years as the CEO. With the organization grown to maturity, he has decided to step down as CEO but has agreed to continue serving the board as a CFOO (Chief Financial and Operations Officer) in order to ensure a smooth transition of executive leadership in PWN Technologies. On 1 May the governance structure will be changed as well. The CEO, CFOO and CTO will form the Executive Board, fully supported by a competent and powerful management team.

“Pieter Spohr’s vision and leadership guided PWN Technologies to its position as a leading innovation and valuable water technology company,” Martien den Blanken, CEO of PWN, says. “In his role as CFOO, Pieter will continue to serve PWN Technologies with his unique insights and entrepreneurship. The Board has complete confidence that Jonathan is the right person to be our next CEO,” adds Martien den Blanken. “His three years of service to PWN Technologies have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment.”

As Chief Business and Application Developments, Jonathan Clement was previously responsible for all client relationships, development of new business and the application of technology in high end markets in Europe, Asia, Australia and the United States.

Before his career at PWN Technologies, Jonathan Clement worked at Black & Veatch for 18 years, most recently as a Global Technology Leader. His experience covers 10 years in the United States where he worked on advanced water technology projects with large water utilities. He was the principal investigator and co-investigator of 10 water research foundation (WRF) projects. One of his projects won the grand prize of excellence in research from the American Academy of Environmental engineers.

Jonathan Clement has also worked for nearly a decade in Southeast Asia and Australia on advanced water technology projects including membranes and reuse. He is the founder of the IWA’s Leading Edge Water Technology Conference and was the Chairman for the first five years. He is also on the management committee of the IWA Water Reuse Specialist group and has been a IWA fellow since 2012.

Focus on top quality

Keep on focusing on a limited number of clients and focus on delivering top quality. That is what we need to do, says Jonathan Clement. As the new CEO of PWN Technologies he will continue along the path of his predecessor Pieter Spohr. ,,We have chosen the path of controlled growth. Its not all about turnover. It’s the results that count.”

As Chief Business and Application Developments he travelled the world exploring markets, talking to potential clients. As CEO he will continue to do so. ,,Keeping close contact with our clients is very important. We have a limited number of clients, and our relations are almost partnership like. Having a voice to the leadership is therefor very important to our clients. In a more production type of business this would be impossible.”

,,Working as global technology leader at Black & Veatch I was directly engaged in evaluating emerging technologies. But SIX® and CeraMac® convinced me from the start. These are technologies with great value and impact. This is a game changer. I clearly wanted to be part of that. That’s the reason why I joined PWN Technologies in the first place.”

,,I am intensely committed to working with water and the environment. What we do at PWN Technologies is helping society solving problems in water treatment . We go beyond making money. We focus on defining contracts and alliances with a restricted number of clients. Companies on the forefront of international developments, who believe in leading edge technology to solve their problems.”

,,Our innovative technologies are generating a very welcome increasing interest. Because we’re more than just a technology provider: we possess scientific knowledge about water treatment and knowledge of the treatment process. PUB in Singapore and South West Water signed up for a pilot facilities. We’d already caused quite a stir with the test results of the CeraMac® pilot in Singapore. And that will also be the case in the UK. I am sure about that.”

Source: PWN

“In response to the changes that have taken place and in the expectation that they will continue, the Council (of ministers) has decided to lift all sanctions with the exception of the embargo on arms,” said a statement approved without a vote.

“The EU is willing to open a new chapter in its relations with Myanmar/Burma, building a lasting partnership,” it added.

The European Union began easing sanctions against Myanmar a year ago as the military, in power for decades, progressively ceded power to civilians and implemented wholesale reforms of the economy.

Ministers noted, however, that there were “still significant challenges to be addressed,” in particular an end to hostilities in Kachin state and improving the plight of the Rohingya people.

New York-based Human Rights Watch said Monday that Myanmar has waged “a campaign of ethnic cleansing” against Rohingya Muslims, citing evidence of mass graves and forced displacement affecting tens of thousands.

HRW Asia head Phil Robertson said lifting the sanctions was “premature and regrettable,” warning that the move lessens leverage over Myanmar.

To help Myanmar’s economy, the EU will also look at the feasibility of a bilateral investment agreement, as well as more development assistance.

To help it deal with inter-communal violence, the EU is studying the possibility of assisting reform of the police service, in partnership with its parliament, the statement said.

In April last year, foreign ministers agreed to a one-year suspension of measures targeting almost 500 individuals and more than 800 firms to bolster a reform process which the same month saw opposition leader Aung San Suu Kyi’s election to parliament.

Among the sanctions, hundreds of people were targeted by a travel ban and asset freeze, while on the economic front the EU had barred investments and banned imports of the country’s lucrative timber, metals and gems.

During a visit to Brussels last month, the first by a Myanmar head of state, President Thein Sein urged the EU to lift sanctions, saying “we are one of the poorest countries in the world”.

He received pledges of EU economic assistance coupled with calls to protect his country’s ethnic minorities.

Since the former premier took over the presidency in March 2011, hundreds of political prisoners have been released and elections held.

EU development aid since has more than doubled to around 150 million euros for 2012-2013.

Source:channelnewsasia.com

Solvay announces today that it will build a large-scale alkoxylation facility in Singapore which is expected to start operations by 2015 and will serve the fast-growing Asian market in home & personal care, coatings, industrial, agrochemicals and oil & gas.

The facility will be connected to Shell’s new High Purity Ethylene Oxide (HPEO) unit located in the world-class, integrated petrochemical hub of Jurong Island. Through the alkoxylation process key monomers are produced that serve downstream surfactant development and manufacturing.

“This project is part of our aggressive growth strategy in Asia and solidifies our specialty surfactant production,” said Emmanuel Butstraen, President of Solvay Novecare. “In addition to greatly expanding our alkoxylation footprint in Asia, the facility demonstrates Novecare’s ambition to be the world leader in delivering innovative surfactant solutions to our customers on a global basis.”

The investment comes after Solvay last week announced that it would build a specialty surfactant plant near Berlin, serving the Central and Eastern European markets.

Solvay Novecare is already Asia’s largest specialty surfactant manufacturer with 11 production sites and two R&D centers in Singapore and Shanghai. The new plant will produce specialty alkoxylate surfactants which deliver targeted cleansing, dispersing, defoaming and emulsifying performance attributes in formulations.

“Our new facility will enable us to develop our specialty surfactant offer in Asia and use Singapore as a hub to provide highly competitive and innovative intermediates to other Novecare sites in Asia, as well as penetrating further into key Southeast Asia markets such as Indonesia, Malaysia and Thailand,” said Pierre-Franck Valentin, Vice-President and General Manager of Solvay Novecare in Asia- Pacific.

The “on pipe” facility will be supplied by an ethylene oxide (EO) pipe from Shell to feed the alkoxylation activities, highlighting both Solvay Novecare’s long-term commitment to sustainable production and growing demand from its end markets.

Fang Yea Yee, General Manager, Ethylene Oxide and Glycols, Shell Chemicals, said: “We are very pleased to forge this strategic relationship with Solvay. Connecting their operations with ours allows both companies to strengthen our value offerings to our customers and to take advantage of the many growth opportunities across our global businesses.”

SOLVAY NOVECARE is a worldwide leader in specialty surfactants and a major player in polymers, amines, guar, and phosphorus derivatives. Solvay Novecare engineers and develops formulations that provide consumer products and state-of-the-art industrial applications with specific functional qualities designed to modify fluid behavior and deliver cleansing, dispersal, gelling, moisturizing, penetrating, softening or texturizing properties. These formulations are used in shampoos, detergents, paints and lubricants as well as in crop protection, mining and energy production and stimulation. Novecare, which boasts a worldwide network of 25 manufacturing sites and seven R&D centers, has become the preferred partner of its customers in rapidly growing economies and leverages an innovation platform based on sustainable solutions.

As an international chemical group, SOLVAY assists industry in finding and implementing ever more responsible and value-creating solutions. The Group is firmly committed to sustainable development and focused on innovation and operational excellence. Solvay serves diversified markets, generating 90% of its turnover in activities where it is one of the top three worldwide. The group is headquartered in Brussels, employs about 29,000 people in 55 countries and generated 12.4 billion euros in net sales in 2012. Solvay SA SOLB.BE) is listed on NYSE Euronext in Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLBt.BR).

Regional demand for these chemicals is expected to grow by 6 to 7 per cent annually over the next five years, said Executive Vice-President of Shell Chemicals Graham van’t Hoff at a ground-breaking ceremony yesterday.

“The key driver for this is the move by consumers from laundry powder and soap bars to liquid detergents and soaps, especially in major markets like China, India and South-east Asia,” he said.

Construction of the high-purity ethylene oxide (HPEO) purification column and two ethoxylation units is expected to be completed next year and will add 280,000 tonnes of capacity per year.

Shell did not disclose how much it invested in the new facilities. The company’s expansion in Singapore comes at a time when global demand for petrochemicals has grown faster than gross domestic product.

“That strong demand growth is expected to continue, with projected global demand for petrochemicals in 2030 potentially double that of 2010. A significant slice of this extra demand is expected to emerge from Asia, particularly China,” said Mr van’t Hoff.

Shell’s additional investment in Singapore was welcomed by Senior Minister of State (Trade and Industry) Lee Yi Shyan, who said it will enhance the Republic’s competitiveness in the petrochemical industry.

“Shell’s investments in the manufacturing facilities … reflect the broadening and deepening of value chains in Singapore,” he said.

Tapping Shell’s latest investments, Brussels-based Solvay Novecare also announced its plan to build a S$50-million facility connected to one of the energy giant’s new units. The facility will produce materials that can be used to manufacture end products like shampoos and detergents.

Source: todayonline.com

Now into its sixth year, the annual week-long event will once again bring together energy leaders from both the public and private sectors to share their perspectives on energy opportunities and challenges. With Asia leading the global demand for energy, SIEW provides the strategic platform for energy discussions going forward.

Last year, some 11,000 delegates and 240 media journalists from more than 60 countries convened on SIEW, where the list of luminaries included global energy thought leaders Dato’ Sri Peter Chin Fah Kui, Minister Of Energy, Green Technology And Water, Malaysia; Soulivong Daravong, Minister of Energy and Mines, Lao PDR; Maria van der Hoeven, Executive Director, International Energy Agency (IEA); and Jose Maria Figueres, Former President of Costa Rica.

SIEW 2013 will be held from 28 October to 1 November at the Sands Expo and Convention Centre, Marina Bay Sands, Singapore.

About Singapore International Energy Week (SIEW)
The 6th annual SIEW 2013 is the foremost platform for top policymakers, energy practitioners and commentators to discuss energy issues, strategies and solutions. SIEW brings together the world’s leading conferences, roundtables, exhibitions, workshops and networking events from across the energy spectrum of oil & gas, clean and renewable energy, and energy trading in one week, in one location.

About the Energy Market Authority
The Energy Market Authority (EMA) is a statutory board under the Ministry of Trade and Industry. Our main goals are to ensure a reliable and secure energy supply, promote effective competition in the energy market and develop a dynamic energy sector in Singapore.  Through our work, we seek to forge a progressive energy landscape for sustained growth.

Source : SIEW

“Given the size and strategy of the bank, combined with the increased cost of network branches, we have reviewed our operations abroad,” Chief Executive Officer Jeroen Drost said in a statement today.

The Singapore branch has 17 employees, Diederik Heinink, a spokesman for The Hague-based bank said by phone. NIBC’s offices in Frankfurt, London and Brussels are unaffected, he said.

NIBC Bank, founded in 1945 to finance the economic recovery of the Netherlands after World War II, last month reported 2012 profit of 73 million euros ($96 million), a 7 percent increase from 2011. Operating expenses dropped by 14 percent last year. The lender offers corporate banking services as well as residential mortgages and online retail savings products in the Netherlands, Belgium and Germany.

Source: Bloomberg

International Paint selected Singapore as the location for its global Marine Coatings headquarters due to its strategic importance to customers and the wider shipping industry, as well as its central location within Asia.

Speaking at an opening ceremony for the new headquarters, Oscar Wezenbeek, Director sBU Marine Coatings, International Paint said: “International Paint is a global leader in marine coatings and we have a proud reputation for supplying coatings based on innovative technology to some of the biggest names in world shipping and shipbuilding”.

They have a long history of service to the industry with their origins stretching back over 120 years to their founding on the banks of the river Tyne in Newcastle, England. Headquartering our business at this time in Singapore will further enhance their global position and will facilitate the development of growing markets in Asia-Pacific. With Singapore’s owned tonnage being one of the highest in the world and with China, South Korea and Japan representing nearly 90 per cent of the world’s new building capacity and China now leading in the number of dry docks and dry dockings, Asia will be an increasingly important market for us in the future.

Located in the Tuas area of Singapore the new headquarters shares its site with International Paint’s Marine Coatings research centre and is the second stage in a development started in 2010 with the opening of the centre – part of a €20m R&D investment programme that has built a global network of Marine R&D centres across Asia, Europe and America.

Marine Coatings

The centre has already contributed to the development of new technology. Also unveiled at the opening of the new headquarters were two significant new fouling control products especially designed to address the industry issues of predictability in antifouling performance not seen since the days of the benchmark tributyltin and the difficult issue of slime fouling on ships hulls:

• Intercept®8000 LPP, a brand new biocidal linear polishing polymer antifouling featuring patented ‘LUBYON®’ technology that delivers predictable long term performance for in-service periods up to 90 months, and;

• Intersleek®1100 SR, the industry’s first biocide free fouling control coating featuring unique patentedslime release technology that combats micro fouling on ships hulls, maintaining performance throughout the docking cycle

The two new technologies are set to improve vessel operating performance, increase efficiency and help control fuel costs and emissions.

Source: international-marine

Full year corporate earnings growth is forecast to average 2.6 per cent, up slightly from 1.7 per cent last year.

Consumer-oriented stocks in the hospitality and food & beverage sectors are expected to do well this year while property, commodities and transport will likely struggle.

Kelvin Tay, who is UBS Wealth Management’s regional chief investment officer, Southern APAC said: “We don’t expect a sterling performance in the first quarter. Nonetheless we do expect the corporates to be able to match what they’ve actually done in the first quarter of last year. The Singapore economy continues to struggle in the first quarter, GDP growth is not fantastic, although there seems to be some light at the end of the tunnel, in the sense that the manufacturing sector appears to have bottomed out.”

Some analysts say the upcoming earnings season will be closely watched, especially by investors who have put their money into small cap companies and penny stocks.

According to the FTSE ST Small Cap Index, small caps have outperformed the STI index. They have risen 12 per cent year to date.

In comparison, STI stocks have gained just 4 per cent within the same period.

Terence Wong, head of research at DMG & Partners Research said: “Investors will have to be a little careful. The run up would imply that they are very bullish on the current year numbers or the prospects of the following few quarters. But if the numbers don’t come through and fall below expectations, some of them will fall hard.”

However others remain bullish on small caps, saying that valuations for blue-chip dividend stocks are too rich.

Wong Sui Jau, general manager of Fundsupermart.com said: “We actually favour the growth stocks, the smaller caps, as opposed to the dividend plays because the valuations for the dividend plays are more rich across the board, so we find that there is greater value in growth stocks and small caps.”

Analysts generally agree that the Singapore market lacks a catalyst to drive it higher.

Mr Wong said: “We recently downgraded Singapore to a 3.5 star market out of five stars. So we’re still positive on the market, but not quite as positive as we were last year. We think this year’s returns may not be as spectacular as last year’s, although we do think that overall, for Asian markets, it’s still going to be a bull-run year.”

Singapore stocks, particularly banking and high-yield stocks like telcos, have made gains in the first three months of 2013, thanks to a global re-weighting of assets to more defensive plays.

However this is unlikely to continue into the rest of the year.

Source:Channelnewsasia.com

Finland, Iceland and Norway also sit at the top of the child well-being table, while four southern European countries – Greece, Italy, Portugal and Spain – are placed in the bottom half.

The researchers looked at child development according to five different perspectives: material well-being, health and safety, education, behaviour and risks, and housing and environment.

Dutch children were ranked first in terms of material well-being, education and behaviour, but fifth for health and safety and fourth for housing and the environment, the report showed.

The research showed 95% of Dutch children are happy with their lives, with nearly 92% saying they find it easy to talk to their mothers and 81% to their fathers.

Source: DutchNews

”The focus of their new Singapore office is to service clients in the maritime and offshore industry. The range of consumables and spares is therefore attuned to this market.” A broad range of products will be available in the next couple of months.

Limiting downtime

Furthermore, the office is pleased that the well-known drinking water disinfectant Hadex® can be delivered from stock. “More and more operators and owners discover the benefits of the approved, food grade Hadex® for the disinfection of their water  onboard. The application of Hadex® for a safe shock treatment of the tanks and piping system after a serious contamination is also recognised,” says Saskia Kaarsgaren, Office & Logistics Manager. “As vessel operations cannot wait for deliveries coming from overseas, or in case of emergencies, it is essential that we can supply at short notice.”

Source: Hatenboer-Water

Mr Domingo De Cola, General Manager – Singapore, Indonesia, Australia and New Zealand says, “We are pleased to be marking this 80th anniversary with various special celebrations for our customers, without whom this milestone would not have been possible. On 3 May 1933, a KLM Fokker F-18 landed in Singapore, making KLM the first western airline to serve Singapore with a scheduled service. Since then, KLM Royal Dutch Airlines has been growing from strength to strength and we hope to continue soaring to greater heights with our customers!”

In celebration, KLM will launch the “KLM Says” campaign on April 1st where for 30 days, various challenges will be posted daily on www.klmsays.com. To take part participants can login using their Facebook or Twitter account. Once logged in, participants can type in the answer to the challenge or if the challenge is picture based upload a photo from a desktop, mobile phone or instagram. Prizes will be given away daily and 10 Grand prize challengers will be chosen every week to go into the main draw to be held at the end of the campaign, where they can win two economy class return tickets from Singapore to any KLM destination in the world.

To celebrate Mother’s Day, which also falls in the month of May, KLM will import 2500 tulip stalks to be given out to at Raffles Place on the 7th of May as part of the ‘KLM Loves Mum Campaign’.

The Band of KLM Royal Dutch Airlines is set to serenade and entertain visitors of Singapore Botanic Gardens for free on 11 May. Whilst on 12 th May, music enthusiasts can enjoy a performance of the Band of KLM Royal Dutch Airlines at the School of  The Arts (SOTA) Concert Hall. This concert will see band perform with the Singapore Winds Symphony. Guest will be the famous Dutch composer; Johan De Meij.

“With this gesture of thanks to our customers who made this 80 th anniversary possible, we invite them to take part in these celebrations with which we hope to bring a bit of Dutch culture and share it with all Singaporeans,” Mr De Cola adds

For more information and details please visit: www.klm.sg

Source: KLM

The “stress” Professors Ralph Eichler and Gerhard Schmitt refer to include the pollution, heat and noise from the roads and energy wastage caused by poor building designs, among others. Possible improvements include building more mixed-use developments so that commuting is minimised and switching to appropriate materials and designs that, will make buildings become “power plants”, they said.

Dr Eichler is the President of leading European university ETH Zurich, which collaborated with the National Research Foundation to set up the Singapore-ETH Centre (SEC), a research institute where Dr Schmitt is the Director, and that studies the challenges of global environmental sustainability.

Housing similar to the Pinnacle@Duxton, for instance, could be considered in new towns such as Punggol and the Jurong Lake District, they said, because the development already resembles a “little village”, where people live, play, enjoy green havens and work nearby.

Said Dr Schmitt: “It takes away the transportation problem because it allows people to live where they work. And every person who doesn’t have to make business travels a day is one problem less.”

Buildings can also generate instead of consume energy by topping off roofs with photovoltaic panels, or choosing building designs that are “optimally-suited for our climate” — such as orientating it to minimise exposure to sunlight, and building forms that capture wind flow.

This allows the buildings to remain cool, reducing the need for air-conditioners.

Referring to the worst-case scenario of a population size of 6.9 million by 2030, mentioned in the Population White Paper, Dr Schmitt said: “It’s actually a chance to do … innovative things because it’s one of the boldest growth patterns a country of this density has … so you really have to make some fundamental reconsiderations of transportation and of energy distribution in the city.”

He added: “It could work if, congruent to the population growth, stress is taken out of the system.”

Source: TODAY

“They see Singapore as a place where the Government is rational, sober, competent to get things done and able to see the businesses’ perspective — if there is any issues, we can talk about it and resolve it in an mature sort of way, so I think we are at a very good level,” he told reporters at the end of his four-day working visit to the US.

“Some of the issues will be longer term concerns, whether we will be able to maintain this and deliver the way we have delivered over the last 30 to 40 years. That is a very valuable advantage which we have. And I think our reputation is another very valuable advantage which we must not give up.”

During the visit, Mr Lee addressed about 300 top corporate leaders at a dinner hosted by the US Chamber of Commerce and the US-ASEAN Business Council, where he assured them that Singapore remains pro-business and continues to welcome foreign talent and investments to its shores.

The Prime Minister also met top political leaders, including US President Barack Obama, Secretary of State John Kerry and Defence Secretary Chuck Hagel, during the visit.

Yesterday, Mr Lee said bilateral relations between Singapore and the US are very good and the depth of engagement is matched only by very few countries in the world. During their meeting at the Oval Office on Tuesday, Mr Obama highlighted the “extraordinary relationship” between the two countries.

Mr Lee said it was not easy for bilateral ties to get to where they are now, and what have helped to boost Singapore-US relations are broad cooperation and similarities between the two countries.

“There is a fundamental alignment of our interest, between Singapore and the US, we want an Asia which is stable, which is prospering, where America plays a constructive role and where Singapore has good relations with America and the region,” he said.

“On that basis, there’s a lot which we can do together, and a lot of mutual comfort and confidence that we are on the same wavelength. It is important for us to share views, perspectives, exchange our different perceptions of how things are going and what we can do better.”

Source : TODAY

“The opening of this office in Argentina is an important and exciting part of Expereo’s ongoing global expansion and our evolution as the default ‘go-to’ provider of global connectivity solutions for all carrier and integrator clients around the world,” said Raj Raithatha, CEO of Expereo.

“Establishing this office in the region is a key step for Expereo’s Latin American efforts that will further enable us to get closer to our suppliers and clients. Increasing our commercial and operational capabilities will accelerate growth in the region,” he added.

We look forward to meeting you in Buenos Aires or this week at Capacity LATAM in Sao Paulo, Brazil.

Source: Expereo

This year the celebrations in Singapore were held on 16 March.

source: www.singaporeworldwaterday.com/

15 Jan 2013 – Singapore International Water Week (SIWW), the global platform for the sharing and co-creation of innovative water solutions, officially opened its Call for Nominations for the Lee Kuan Yew Water Prize 2014.

This will be announced today by the Singapore Minister for the Environment and Water Resources Dr Vivian Balakrishnan at the 1st International Water Summit (IWS) 2013 in Abu Dhabi, United Arab Emirates (UAE), held jointly with the 6th World Future Energy Summit (WFES) as part of the Abu Dhabi Sustainability Week.

The Lee Kuan Yew Water Prize
The highlight of SIWW, the Lee Kuan Yew Water Prize honours outstanding contributions by individuals or organisations towards solving the world’s water challenges by applying innovative technologies or implementing policies and programmes which benefit humanity. This prestigious international award is named after Singapore’s first Prime Minister Lee Kuan Yew, whose foresight and leadership has enabled Singapore to attain sustainable water supply.

In a world where more than half of the population already live in cities and another 2.5 billion people are expected to move to cities by 2050, the future is undoubtedly urban. The Lee Kuan Yew Water Prize stands out from other international water prizes with its focus on innovative solutions and policies for the urban environment.

The Lee Kuan Yew Water Prize 2014 laureate will receive S$300,000, a certificate, and a gold medallion at the award ceremony to be held during SIWW 2014.

The 2012 Laureate of the Lee Kuan Yew Water Prize 
Into its sixth edition now, the Lee Kuan Yew Water Prize has seen a range of recipients with illustrious achievements in the area of groundbreaking water technology and innovative water policy and management.

The latest recipient of the award in 2012, Professor Mark van Loosdrecht was honoured for his breakthrough, Anammox — an innovative biological process that provides a cost-effective, robust and sustainable way to remove unwanted pollutants from used water.

With the discovery of a unique group of bacteria that removes the pollutant ammonia in used water using less oxygen and no added organic carbon, Anammox greatly reduces the overall energy consumption, chemical usage, and carbon emissions of conventional used water treatment plants. By pioneering this innovative biological process, Prof van Loosdrecht changed the established understanding of the used water treatment process. His ground-breaking work in marrying nature and engineering has formed the basis for many used water treatments today, and continues to gain worldwide adoption.

The Sponsor —Singapore Millennium Foundation
The Singapore Millennium Foundation (SMF), a philanthropic body supported by Temasek Holdings, is the sponsor of the Lee Kuan Yew Water Prize.

With a primary aim to promote research and development of human capital, and enhance Singapore as a centre for research, the SMF partners universities in Singapore as well as research institutes such as Temasek Life Sciences Laboratory, National Cancer Centre Singapore, National Neuroscience Institute, Institute of Mental Health, and Singapore General Hospital. It has supported research into liver cancer, Parkinson’s disease, neuromuscular disease, mental health, and biofuel. SMF has future plans to expand into research areas including pedagogy and learning, special needs education, ageing and palliative care, and non-medical bioscience.

Call for Nominations
Singapore International Water Week calls for nominations for the Lee Kuan Yew Water Prize 2014. Qualified parties, such as leaders of international water companies and water utilities, top academics in water research, policy and management, heads of international organisations, members of government, or distinguished individuals in the water field are welcome to submit nominations.

All nominations will undergo two rounds of rigorous selection. The Nominating Committee will thoroughly evaluate all submitted nominations and make their recommendations to the Water Prize Council, which will then decide on the prize winner. Nominations close on 31 May 2013.

For more information, visit www.siww.com.sg or emailleekuanyewwaterprize@siww.com.sg

Singapore’s participation at IWS 2013
Singapore’s participation at the inaugural IWS underscores its strong mutual ties with the Middle East in the area of sustainable water solutions on both government and business levels, with the arid region being a key target market for Singapore-based water companies to expand their operations.

Leading the Singapore delegation, Minister Balakrishnan will speak at IWS – WFES’ joint Ministerial Panel on the Water-Energy Nexus, the topic in focus with IWS 2013 also themed “Bringing the water-energy nexus to life”. Chew Men Leong, Chief Executive of PUB, Singapore’s national water agency, will also speak at an IWS Interactive Panel Discussion on 16 Jan on Understanding How an Arid Region May Continue Sustainable Growth and Economic Development. This discussion will focus on how water scarce regions may take a strategic economic approach in order to achieve water supply security for the increasing demands of population and industry.

Singapore’s strong presence at the event was also highlighted by the 126sqm Singapore Pavilion – one of the largest Pavilions at IWS’ Exhibition Centre, representing Singapore’s water industry with a cluster of booths from Singapore water companies such as Sembcorp and Hyflux as well as SIWW and Singapore Water Association.

The Middle East has also been a strong supporter of SIWW since its inception – reinforced by IWS joining as a supporting organisation of SIWW 2012, and Saudi Arabia’s National  Water Company selecting SIWW 2012 as a platform to announce an S$11bn investment in water infrastructure, the event’s largest dollar-value announcement to date.

Activities leading up to SIWW 2014
The Lee Kuan Yew Water Prize 2014 Call for Nominations is the first in a slew of activities that will be held in 2013, in the lead up to SIWW 2014. Other key activities include the Water Convention 2014 Call for Papers that will commence in February, and the inaugural SIWW Water Utilities Leaders Forum – “Mapping Challenges and Solutions” which will be held in September. The Forum is a by-invitation, high-level event that will bring together water utilities leaders in the Asia-Pacific and Middle East to share challenges and co-create solutions. The discussion outcomes from the Forum will also be showcased at SIWW 2014.

Source: http://www.siww.com.sg

“It doesn’t matter if the population hits 6.9 million, we can go lower because a lot of the crime here is preventable,” he said.

That explains a renewed focus on crime prevention since he became police chief three years ago and set out to work towards making Singapore “the safest place in the world”.

The most significant move is the Community Policing System (COPS), which has officers getting out of their patrol cars and Neighbourhood Police Posts to pound the beat on foot or on bicycles, getting to know people who live and work in the area.

It is a big change because Ng does not want people to interact with police officers only when crimes happen. He wants the police officer to be a familiar face in the neighbourhood, someone the public can count on.

In his first interview since taking over as commissioner from Khoo Boon Hui in February 2010, Ng said: “I took over a very successful and enviable police force. But I thought, let’s clarify our mission and see how we can do better.”

For example, most police re­­sources are dedicated to responding to crime.

“Our policemen are sitting in police cars and they’re waiting to be dispatched to a 999 call,” said Ng. “We invested greatly in this and have performance standards on these things, but … the smart thing to do is to prevent the crime in the first place.”

Prevention and deterrence, however, are far harder than solving crime. For one thing, crime prevention requires officers to be more deeply embedded in a neighbourhood.

“We wanted to move away from where most of our interactions with the public are when something bad has happened to them,” said Ng.

“Now we have the police officer walking a beat until he becomes a familiar face and a member of that community where he’s trusted.”

But will there be a day when there is no crime in Singapore?

“As long as there’s more than one human being, there will be crime,” said Ng.

“But how low can we go? No one can answer this. I think we can go a lot lower.”

Source: The Straits Times

• Business/Industry: Tier-One contract manufacturing partner
  for High-Tech Capital Equipment
• Number of staff in Singapore: 203
• Country of Origin: Netherlands
• Year of Establishment: 1970 (Singapore)
  1953 (The Netherlands )

Website: www.vdlgroep.com

Interviewed guest: Patrick Smit, Manager Sales and Programs Nationality: Dutch Lives in Singapore since: 2010 Family: Married , no children Patrick’s favourite quote: “Life is not measured by the number of breaths we take but by the moments that take our breath away” Patrick’s favourite management book: “Cultures and Organizations” from Geert Hofstede.

What does VDL Enabling Technologies Group Singapore Pte. Ltd’ stand for?

VDL Enabling Technologies Group (VDL ETG) is a contract manufacturing partner of high-tech capital equipment for Original Equipment Manufacturing with main expertise in vacuum, handling and positioning. Our customers are leading high-tech Original Equipment Manufacturing companies and users of advanced production lines. Services we provide include prototyping, customer specific factory automation projects and series manufacturing of “high-mix low-volume” products. The focus mainly lies in markets such as the Semicon, LED, Solar, Medical, Aerospace and defence and production automation. We are known of providing our customers solutions through the high-tech knowledge and skills we got. Our mission is to become a global leader as a tier-contract manufacturing partner to outperform customer expectations in delivering mechatronic solutions.

VDL ETG has been a part of VDL Groep since 2006 and was before part of Philips Electronics. The VDL Groep focuses on the development, production and sales of high quality semi-finished products, buses and a wide range of finished products, around 70% of which are destined for export. The emphasize is put on the innovation, improvement and expansion of products and production processes.

VDL groep provides continuity and flexibility. This is made possible by the unique structure they got. Independent companies, each with its own speciality in various product/market combinations, both at the national and international level. The strength of the organisation lies in the cooperation among the companies. Together they form a single, strong team.

Why is Singapore a good location for VDL Enabling Technologies Group?

With many years of experience, VDL Enabling Technologies Group does not only operate from their headquarters in The Netherlands, but has also locations around the world (USA and China). VDL Enabling Technologies Group started to operate in Singapore by 1970.

From Singapore we got closer to the customers operations and compared with operations in the Netherlands it is more beneficial since there is a lower cost structure. Profits can be made in this region due to three factors as in excellent operational performance in quality, on time delivery and low costs with continuous improvements in productivity. The biggest challenges for us in Singapore nor in the Asian regions are to keep improving productivity, and to manage labour constrains. We would like to focus on our current and potential customers, who have their headquarters in Europe, USA and Japan, but also have operational sites in Asia to where we deliver our products to.

In the future we like to invest in technology, development of people and we are building a new building that will be opened by the end of Q3 2013.

What can you describe as the achievements of your company?

Our success here started by working closely with low cost 2^nd tier local suppliers to stay competitive. We assist them in their development so we can improve our business. Furthermore together with the EDB we have developed over the last decades a group of local suppliers who support us on secondary processes that we don’t have in house. With these partners we supply towards our customers who are a partner to us and in some cases help us to develop our 2nd tier. With this we have been a successful partner for our customer to make, test and ship complete machines to the customers of our customers.

When it comes to innovation our core competence is manufacturing. We innovate by helping our customers design products that can be manufactured. Together we innovate and search for the boundaries of what can be made.

Nowadays more and more customers are searching for partners who want to step up in the value chain. We do this by taking ownership of some functions inside a machine. This is mainly the vacuum process, handling process and positioning process of the machine. The market is ready for this!

ABC Waters is an outstanding project, as it ventures beyond our “Hardware” of diversification of water sources; tariff policies; investment; public-private partnerships, and disaster-planning – all of which are only part of the equation of ensuring national water sustainability. An equally important part is the “Heartware”, through which we manage Singapore’s water services by inspiring people to take ownership of, conserve, value and enjoy our waters. So we started ABC Waters Programme in 2006, to bring people closer to this precious resource, encouraging them to become water stewards who strive to keep Singapore’s water bodies clean.

ABC Waters radically transforms Singapore’s network of utilitarian drains, canals and reservoirs beyond their traditional functions of drainage, flood control and water storage into beautiful and clean streams, rivers and lakes. Here’s an example of what we mean:

Concrete canal at Bishan-Ang Mo Kio Park before transformation

After transformation

With ABC Waters, parks no longer need to stop at the edge of water, nor water be confined in reservoirs and waterways. A seamless blue-green network that is well integrated with adjacent land developments is created to continuously provide new community spaces and encourage new lifestyle activities to flourish in and around the waters. ABC Waters is hence a major part of our efforts to integrate water planning into urban land-use planning, which is a key focus for Cities of the Future.

Furthermore, ABC Waters uses innovative engineering, landscape design, and the behavioural framework of urban design. Traditionally, drains were used to channel rainwater for discharge into the sea as quickly as possible, to reduce flooding potential. With ABC Waters, the hydraulic regime is now envisioned as detaining, retaining and treating rainwater (through nutrient removal) closer to the source, by making use of environmentally sustainable green features like bioretention swales, rain gardens and wetlands. More information about ABC Waters can be found in our shortlisted nomination entry here.

We believe that ABC Waters is a visionary project that deserves to win, so we’re really looking forward to your support! It would be great if you could also request eligible voters among your contacts/networks to cast their votes for ABC Waters.

To read the full nomination entry about our ABC Waters Programme, click here

One of the European Commission’s recommendations is on Aggressive Tax Planning. It suggests ways to address legal technicalities and loopholes which some companies exploit to avoid paying their fair share. EU Member States are encouraged to reinforce their Double Taxation Treaties to prevent them from resulting in no taxation at all. They should also adopt a common General Anti-Abuse Rule, under which they could ignore any artificial arrangement carried out for tax avoidance purposes and tax instead on the basis of actual economic substance.

Among other EU Member States, the Netherlands welcomes the attention given by the European Commission to the prevention of tax evasion and tax avoidance. The Netherlands especially welcomes the recommendations on reinforcement of Double Taxation Treaties, particularly as these already form part of the country’s policy in respect of the conclusion of Double Taxation Treaties. In this context the Netherlands State Secretary of Finance also concluded that tax evasion and tax avoidance are international problems that can only be solved at an international level. He emphasised that the Netherlands will not act in anticipation of any international agreements in order to remain one of the most attractive countries to establish a company. Some reasons why companies find the Netherlands attractive include the preferential Netherlands tax regime and extensive network of Double Taxation Treaties.

Click here to read the European Commission’s press release

More recently, the OECD commissioned by the G-20, published a report on 12 February 2013 on Base Erosion and Profit Shifting, which addresses the desire for tax systems that do not unduly favour multinational enterprises, leaving citizens and small businesses with larger tax bills. In the coming months, the OECD will draw up an Action Plan, developed in cooperation with governments and the business community, which will provide concrete timelines and methodologies for solutions to reinforce the integrity of the global tax system.

Click here to read the OECD’s press release.

Source: De Brauw Blackstone Westhoek newsletter

The survey is conducted by Eden Strategy Institute (ESI), a consultancy on social innovation, and tracks the use of predetermined words since Monday by users of social media such as Facebook, Twitter, blogs and online forums. The list of words includes “thank you”, “the best”, “grateful”, “hopeful” and “positive”.

The institute said the survey covers more than 200 million social media accounts in five countries, namely Singapore, Malaysia, the Philippines, India and Indonesia.

It calculates the Happiness Index score by taking into account the social media population in each country and the number of hits generated by a search engine when the researchers key in the predetermined words.

As of yesterday, Singapore scored 518 on the index to come out tops among the five countries. Malaysia was a distant second with a score of 245.

The institute said it launched the survey to commemorate the inaugural International Happiness Day, which takes place today.

ESI partner Calvin Chu Yee Ming said: “There have been many surveys on happiness, but we are excited about this unprecedented opportunity to allow people from different countries to benchmark their true happiness levels against one another, over time, and in real-time.”

He added that the institute was “surprised by some of the results, which reveal the national psyche of these countries and will be of strong interest to citizens, policymakers, and businesses alike”.

Asked how this survey gels with previous ones, such as the Gallup poll, Mr Chu said he felt that it was “more scientific” and “looks at the drivers of happiness on a much wider population”.

The survey noted that Singapore tops the list “despite a looming perception of dissatisfaction over rising costs of living, recent infrastructure breakdowns and the style of governance in the mass media”.

Adding that any “such negative sentiment appears to be voiced by a vocal minority”, it said: “While Singaporeans can be reticent, they are particularly vocal during festive periods and special occasions like birthdays or anniversaries, and express their encouragement for each other, especially among the youth.

“Singaporeans love to send funny pictures or pictures of food, as a means of reaching out and sharing.”

Source: Today

In Vietnam Boskalis acquired a contract from a consortium led by Petrovietnam Technical Services Corporation, a subsidiary of the National Vietnamese Oil Company Petrovietnam. In Nghi Son an approach channel and port basin for a new refinery and petrochemical complex will be dredged. On completion of the dredging works vessels of 30,000 DWT will be able to access the port to service the Nghi Son refinery, which is expected to have a capacity of 200,000 barrels a day. A jumbo trailing suction hopper dredger will be deployed for the project which is expected to commence later this year. The project is expected to be completed by mid 2014.

Boskalis’ strategy is aimed at benefitting from key macro-economic factors which drive worldwide demand in our markets: expansion of the global economy, increase in energy consumption, global population growth and the challenges that go hand in hand with climate change. These projects closely relate to both the increasing global trade and energy consumption.

Source: boskalis

The company, whose Singapore refinery is its biggest globally, will relocate to Buona Vista from its current location in the central area of River Valley, Serene Loo, a company spokeswoman said in an e-mailed statement.

“This move will allow us to bring our office staff under one roof and to enable us to cater for the company’s future growth in Singapore,” Loo said.

Shell plans to move its natural-gas business to Singapore from The Hague in response to to growing demand for liquefied natural gas in Asia, the company said in December.

Source: Bloomberg

He said foreigners are granted Singapore citizenship only if they are committed to making Singapore their home in the long-term.

As such, they should be prepared to give up their foreign nationality.

Nominated MP Assistant Professor Eugene Tan had asked in Parliament if the country should keep an open mind with regards to dual citizenship, given the increase in international marriages.

Mr Teo said: “As Singaporeans, we count on one another to be loyal and if need be, to defend Singapore and fellow Singaporeans in our hour of need. We work together to build a brighter future for Singapore and Singaporeans. Singapore is a small and young nation. It is all the more important that we are clear that our citizens have a long-term commitment to building a future together here. Allowing Singaporeans to retain or acquire a second citizenship is unlikely to enhance that commitment but could dilute it.”

Source: ChannelNewsAsia

Dutch singer-songwriter Wouter Hamel has lofty ambitions – he is making it his mission to turn young music listeners in his country on to jazz.

“I want to be the guy who brought jazz back to the Dutch music scene,” he proclaims confidently in a telephone interview from his home in Amsterdam.

The 35-year-old, who will be in Singapore to play two shows at the Esplanade Recital Studio on March 9 as part of the Mosaic Music Festival, adds that he wants to teach the youths here that there is more to music than just pop songs.

“I try to remind them there were music before Rihanna. If I make one 15- or 16-year-old listen to Anita O’Day or Peggy Lee or stuff like that, I’ll be super proud.”

Often billed as the Dutch equivalent of British jazz/pop star Jamie Cullum, the bachelor has certainly got his countrymen listening to his music, which mixes genres such as jazz, swing, folk, ska and pop.

First thrust into the spotlight when he won the Dutch Jazz Vocalist Competition in 2005, his first two albums Hamel (2007) and Nobody’s Tune (2009) have both achieved platinum status in the Netherlands.

Along the way, Hamel has also picked up several Dutch entertainment industry awards such as the De Eerste Prijs Award and Originele Rembrandt Award, both in 2007, and the Essent and Zilveren Harp awards the following year.

Born in The Hague, Wouter turned to music in his school days, as he was, as he puts it, “not very athletic and was bad in all sports”.

He went for piano and guitar lessons, and later enrolled in a conservatory.

“When I started singing, I had this weird voice. I was 16 but people told me that I sounded more like a 30-year-old. But there was something going on, people would stand up and applause, and I would be going ‘Finally! I can do something’.”

While he has done plenty of gigs in Japan, South Korea and in Europe, his own countrymen are his toughest audience yet. “Dutch people behave badly at gigs. They shout and scream even during the quieter ballads,” he says with a laugh.

“But I think that the honesty of Dutch audiences is good. It keeps you very critical of yourself. It doesn’t make me smug.”

He has no idea what to expect of the audience for his first shows in Singapore, he says, but he and his band are all set to put on an entertaining show.

“It’s not going to be a big pop show like Beyonce, that’s for sure, but I think our jazz background sets us apart from other performers. There are going to be some big moments though, some a capella tunes, big guitar solos.”

Hamel, whose last album Lohengrin was released in 2011, says that he is looking to expand his music scope with his upcoming fourth album, expected to be released at the end of the year.

The songs are going to be “very sunny” and will have a “tropical Caribbean feel”, he reveals.

“The last album was a studio record, but for the new songs, I want to create a more home recording-based album. I want it to have an intimate feel, so I rented a little studio not far from my home and record there every day. There is a different vibe, it feels a bit more homely.”

Source: Straits Times

Guy Heijnen, Managing Director Hatenboer-Water Asia

First Demitec water maker in order for new Singapore office

The Hatenboer-Water Singapore office has been in operation as of January this year. By now, existing and new customers have found the office of the supplier of on board water treatment equipment and services and the first orders have been booked. Last week, the organisation received a considerable order for a Demitec^® water maker from a well-known drillship owner, Vantage Drilling. Next month, the office will also be a stockholder of consumables and spares.

Spares and consumables in stock

The focus of the office is to service our clients in the maritime and offshore industry. The range of consumables and spares is therefore attuned to this market. Guy Heijnen, Managing Director of Hatenboer-Water Asia Pte Ltd, comments: “At Hatenboer-Water we also concentrate on the ‘aftercare’ of our water treatment systems. Good water on board starts with installing the right equipment to meet up to the maritime conditions, but considering the great importance of safe drinking water, we want to maintain a close cooperation with our customers, not only during the construction of vessels and rigs, but also after commissioning. In that respect, timely delivery of spares and consumables is crucial.”

Limiting downtime

Furthermore, the office is pleased that the well-known drinking water disinfectant Hadex^® can be delivered at short notice. “More and more operators and owners discover the benefits of the approved, food grade Hadex^® for the disinfection of their water on board. The application of Hadex for a safe shock treatment of the tanks and piping system after a serious contamination is also recognised,” says Saskia Kaarsgaren, Office & Logistics Manager. “As vessel operations cannot wait for deliveries coming from overseas, or in case of emergencies, it is essential that we can supply at short notice.”

Demitec^® Water Maker

In addition to stocking spares and consumables, Hatenboer-Water Asia provides all water treatment equipment required on board, such as water makers, hydrophore units, UV disinfection and hot water calorifiers. One of Hatenboer-Water’s valued clients, Vantage Drilling, has already used the services of the Singapore office and has placed an order for the delivery of a trusted Proteus Water Maker to expand the production of fresh water on board their drillship. This provides a flying start in Singapore for the 107-year-old company and creates the confidence that many owners and operators will welcome a water solution provider such as Hatenboer-Water in their region.

Hatenboer-Water has a long history in the field of water. Ever since 1906 the company has been supplying drinking water for ships and industry, and is still doing so. More than one hundred years later the organisation has grown to become an internationally operating full service player in the water treatment market. Bearing in mind where many of their maritime and offshore customers’ vessels are constructed, it goes without saying that opening an office in Asia was a logical step. With a personnel strength of more than 80, Hatenboer-Water is in a position to offer solutions to ‘water issues’ worldwide: in the offshore and maritime sector, in horticulture and in a variety of fields such as the food & beverage and chemical industries.

Source: Hatenboer

The proposition that photovoltaic panels will be the main power source by 2070 is one of the New Lens Scenarios Europe’s largest oil company published today in a report on energy demand this century. A second has natural gas as the main fuel by 2030. Both come with risks to energy producers and the climate.

“The world is complicated, and it’s a little messier going forward,” Chief Executive Officer Peter Voser said today at an event in Washington.

Shell’s solar estimate, which assumes higher energy prices, follows an industry boom that saw capacity grow to about 102 gigawatts in 2012, according to data compiled by Bloomberg New Energy Finance. That compares with a figure of 1 gigawatt in 2000, based on figures from the International Energy Agency.

Lower costs and state support will boost solar to about 600 gigawatts in 2035, or more than 2 percent of power generation, from a small fraction in 2010, the Paris-based group has said.

Shell’s wind, solar and hydrogen projects were suspended by former CEO Jeroen van der Veer in 2009 before Voser took over in July that year. Today’s study is its longest term outlook, after spending $2.3 billion on alternative energy and carbon capture and storage research and development in the past five years.

Carbon Zero

Energy demand may double in the next 50 years on population growth and rising living standards, according to Shell, based in The Hague. At the same time, it sees “global emissions of carbon dioxide dropping to near zero by 2100” under both scenarios.

The first scenario, “a more prosperous, volatile world,” projects oil demand plateauing after 2040, and wind power and carbon capture growing more slowly on a lack of public and policy support. Solar power will dominate, making up almost 38 percent of supply, with oil providing 10 percent and natural gas 7.5 percent in 2100, Shell said. Solar ranks 13th now.

Natural gas demand also will increase, said Jeremy Bentham, the report’s chief author. “The underlying pent-up demand for gas is very” strong, he said. No matter how much is produced, “we see it being sucked up, every molecule.”

In the second scenario, with more moderate economic growth, demand for oil will peak in about 2035. By the century’s end, electric and hydrogen-powered vehicles will dominate roads and there will be wide use of technology to trap carbon emissions.

Output of hydrogen now accounts for 2 percent of energy content, mostly for making ammonia and refining oil, Shell said in the second scenario. By 2060, transportation uses of hydrogen will overtake industrial demand, allowing it to rise “phoenix- like” from failed “1990s hype” about hydrogen-powered cars.

Shell decided in 2009 to focus on bio-fuels in the renewable energy industry and in 2010 set up the Raizen ethanol venture with Cosan SA Industria & Comercio. In 2010, it saw the share of renewables in transport fuel doubling this decade, and since then has focused its research on bio-fuels made from sugar cane- farm waste after ending an algae project in Hawaii in 2011.

Source: www.bloomberg.com

The change of heart comes at a time when the euro zone’s focus on austerity as its primary response to the bloc’s economic problems is increasingly being questioned. In elections held Monday and Tuesday, Italian voters backed parties that are opposed to the previous government’s austerity program.

The Dutch government’s fiscal watchdog said Thursday that the country’s budget deficit will breach the EU limit of 3% of gross domestic product in the coming years as a result of lower tax income and higher welfare spending caused by the weakening economy. Under EU rules, the Netherlands will face a penalty if it misses the 3% target this year.

“We are going through hard times,” Finance Minister Jeroen Dijsselbloem said in a television interview. “The government now has to look at additional measures. We shouldn’t only look at cost savings, but also at how we can help revive the economy and create jobs.”

the Netherlands is one of the more robust members of the euro zone and considered a core country next to Germany, Austria and Finland, with fiscal problems that are much less severe than those of countries in Southern Europe. The Dutch deficit will hit 3.3% in 2013 and 3.4% in 2014, exceeding the limit by just €2 billion ($2.6 billion) to €3 billion, according to the CPB Netherlands Bureau for Economic Policy Analysis.

But the Netherlands is forecast to be one of the euro zone’s weakest economic performers in 2013, against a backdrop of falling house prices and depressed consumer sentiment. More government cutbacks or tax increases could put the economy in a downward spiral, officials and economists say.

The government hopes to get an extra year to achieve the 3% target. Mr. Dijsselbloem, who is also the head of the Eurogroup of euro-zone finance ministers, is preparing additional austerity measures for 2014 that will be presented on Friday.

Officials say the EU might take a more flexible stance considering the strong improvement of the Netherlands’ so-called structural deficit, which strips out the impact of unexpected economic blips and one-off measures, such as the nationalization of banking and insurance company SNS Reaal NV on Feb. 1.

It is unclear whether the European Commission, the EU’s executive arm, is willing to grant the Netherlands more time. Throughout the bloc’s crisis, the Dutch have been vocal advocates of budgetary discipline and key supporters of the German-led austerity drive to contain the region’s problems. The costs related to nationalizing SNS Reaal were largely offset by higher-than-expected revenues from a telecom spectrum auction in December.

Still, EU officials have appeared more sensitive to the negative impact austerity is having on growth across the region. The commission has signaled it will show some leniency to Spain and other countries that are slashing their deficits.

France, for example, is appealing to Brussels to delay the 3% target, arguing it isn’t the time to be adding austerity to recession. Paris is keen for the commission to focus less on headline measures of deficit and more on the structural efforts. The French government says it is on track to deliver a 1% cut in its structural deficit on average between 2010 and 2013. If the commission agrees, France should escape sanction.

Early economic data and surveys suggest the euro-zone economy is unlikely to emerge this quarter from a contraction that has already lasted for nine months. Austerity has had a bigger negative impact on growth than most policy makers anticipated, and officials from the bloc seem increasingly open to a more nuanced approach to hitting budget targets.

Speaking in London Thursday, European Commissioner for Economic and Monetary Affairs Olli Rehn said austerity alone won’t solve the fiscal crisis because by itself it stifles growth. Fiscal consolidation “needs to proceed at a careful and steady pace that is appropriate for each country,” he said.

Source: www.wsj.com

These questions were raised at an Economic Society of Singapore forum yesterday on Budget 2013. Higher foreign worker levies, the Wage Credit Scheme and enhancements to the Productivity and Innovation Credit scheme are key initiatives in this year’s Budget for the Republic’s ongoing productivity push.

The panelists — five economists and a tax expert, with Economic Society Vice-President Donald Low moderating — said the Wage Credit Scheme was a good strategy to help companies raise wages and share productivity gains with their employees. These aims were stated by Deputy Prime Minister Tharman Shanmugaratnam in his Budget speech on Monday.

But some panelists said it was unclear if the scheme would spur productivity growth, in response to audience member and Non-Constituency Member of Parliament Gerald Giam’s question.

Given Singapore is nearly at full employment, and companies are facing tighter foreign labour regulations, employers may have to increase wages to retain workers even if they are not more productive, said OCBC Head of Treasury Research and Strategy Selena Ling. A situation could result where “everybody competes with (wage) increase but productivity does not go up”, she said. “To a certain extent, we could be putting the cart before the horse, because your assumption is, you give the increase, the worker will be more productive.”

Ms Ling added that aside from productivity, companies here must also innovate to drive growth.

UOB economist Francis Tan said firms may not hop on the wage-increase bandwagon “immediately”, and could still demand higher work performance before justifying any wage increase. Workers could be asked to work longer hours to justify the increase, making productivity —the value added per worker — appear higher.

But Ernst and Young transaction tax partner Russell Aubrey said employees could be incentivised through variable bonuses for increased productivity instead of “permanent increases”.

On how SMEs could become price-setters, Ferrell Asset Management Group director David Lee said education and research and development were key in the long term.

But many businesses are “firefighting” daily with manpower and other concerns, such that few have time to think. Diversity of thought is also required, and a larger population is needed for that, Dr Lee felt.

An audience member also pointed to what he felt was a missing piece of the puzzle in nurturing more productive workers — good employers. Studies have found happy employees to be the most productive, he said.

Agreeing, moderator Mr Low said: “I think it has to do not with anything inherently wrong with the Singapore worker, but with employer practices and norms and I think that one deserves a lot more government attention, rather than just looking at wages.

“The other thing we are obsessed about in policy is that it’s as if the only thing that improves worker productivity is technology, and again, that’s misguided. A lot of it has to do with management practices, company practices, how they treat workers.”

Source: http://www.todayonline.com

“People will wonder why we stay in the European Union if it persists in such transparently self-defeating policies,” Mr Johnson said. “Brussels cannot control the global market for banking talent, Brussels cannot set pay for bankers around the world.”

“The most this measure can hope to achieve is a boost for Zurich and Singapore and New York at the expense of a struggling EU. This is possibly the most deluded measure to come from Europe since Diocletian tried to fix the price of groceries across the Roman Empire,” he added.

The provisional EU deal, announced by diplomats and officials after late-night talks between EU country representatives and the bloc’s Parliament, means banker bonuses will be automatically capped at a year’s salary. The bonuses can be raised to twice the pay packet only if a majority of the bank’s shareholders vote in favour.

Britain is unhappy with the plan and fears it could hurt London’s position vis-a-vis its non-EU rivals. Prime Minister David Cameron said the United Kingdom would review the provisional deal at an EU finance ministers’ meeting next week in Brussels.

“We do have in the UK, and not every other European country has this, we have major international banks that are based in the UK but have branches and activities all over the world,” Mr Cameron said.

“We need to make sure that regulation put in place in Brussels is flexible enough to allow those banks to continue competing and succeeding while being located in the UK. So, we will look carefully at what the outcome of the negotiations was before working out the approach we will take at Ecofin (finance ministers’ meeting) next week.”

London is home to over one third of the global foreign exchange market and is, by far, the biggest financial centre in the EU, though its 144,000 banking staff have been castigated by voters and politicians for causing the 2008 financial crisis.

The bonus rules will apply to all banks — American, Asian, Russian or European — based in Europe, and to units of European banks located abroad, so a Deutsche Bank employee working in New York or Tokyo would be subject to the same limits.

“There will be no exceptions. It goes for all banks inside and outside the EU and for all foreign banks inside the EU,” said Mr Othmar Karas, the Austrian lawmaker who helped negotiate the deal.

Still, the cap has been somewhat softened by provisions for adjusting the value of long-term non-cash payments to bankers, so that more bonuses can be paid out over time without breaking through the new ceiling.

The limit on bankers’ pay, which is set to enter EU law as part of a wider overhaul of capital rules aimed at making banks more stable, will help assuage public anger at financial sector greed on a continent struggling to emerge from the ruins of the 2008 financial crisis.

Source: http://www.todayonline.com

In most sectors, the rates are maintained for skilled workers — except in the process and marine industries, where levies will also be raised for this group of workers.

The most extreme among the hikes, which differ across sectors, as well as depend on each firm’s proportion of foreign employees, will hit the services industry: By 2015, a boss can pay as much as S$800 a month in levy for every unskilled work-permit holder he hires, as opposed to S$600 for a skilled worker.

The Ministry of Manpower has cushioned the blow somewhat by extending the Job Flexibility for Productivity programme — hitherto open only to hotels — to the entire services sector. Under the programme, companies can deploy work-permit holders in multiple roles to raise productivity.

The largest levy quantum, however, will be for construction firms that bring in foreign workers beyond their man-year entitlement — the total quota of imported labour allocated for a specific construction project. In such situations, unskilled workers will incur S$1,050 per head in monthly levy.

On average, monthly levies for work permit holders will increase by between S$50 and S$160 by 2015. The latest hikes in foreign worker levy is the third round of increases since 2010.

Earlier this month, in response to the Population White Paper, the Association of Small and Medium Enterprises (ASME) had urged policymakers to provide greater leeway for companies to hire lower-skilled workers, noting that it could be higher-skilled foreign talent who are taking jobs away from Singaporeans.

On the sharper distinction between skilled and unskilled work-permit holders, some business associations and watchers yesterday said it reflected the Government’s thinking that skill level had a heavy bearing on how quickly productivity improves.

ASME President Chan Chong Beng said this stemmed from the belief that “because skilled workers don’t have to go through training, they can contribute much quicker to faster productivity growth”.

Ang Mo Kio GRC MP Inderjit Singh added that the resolute departure from allowing cheap, unskilled labour in to fill low-end jobs was necessary as businesses previously had “no incentive to upgrade these (into more productive) jobs and restructure to the point that Singaporeans can, and find it worth their while, to do some of these jobs”.

One sure effect of such an approach to raise productivity more quickly, the associations concur, is that challenging times are ahead for a not-insignificant number of firms who face the prospects of consolidating, relocating or shutting shop.

Said Singapore National Employers Federation Vice-President Bob Tan: “Not all businesses can necessarily choose to employ skilled workers; their business may still need the arms and legs to run.”

With firms inevitably having to use higher wages to woo Singaporeans into these positions, Mr Chan felt that “blue-collar jobs will eventually be better paying than white-collar ones”, as is the case in countries such as Australia.

Others, like Singapore Business Federation Chief Executive Ho Meng Kit, however felt that such a scenario is unlikely because the working conditions for many of these jobs will remain unpalatable to Singaporeans.

He added that companies will also not raise wages beyond what it would cost to hire a foreign worker. SNEF’s Mr Tan added that the full-employment situation also means most Singaporeans will cast their eyes at better jobs.

Acting Manpower Minister Tan Chuan-Jin reiterated on Facebook that the levy hikes go “beyond substituting foreign manpower with local labour”, and are geared toward restructuring Singapore into a “manpower-lean economy” where wages for Singaporeans will be raised and the Republic can maintain a Singaporean Core.

The MOM yesterday also encouraged companies to tap on available incentives to improve their work-rate, including those announced in the Transition Support Package in Monday’s Budget.

Already, there are success stories of productivity gains, even in sectors where improvements have been stubbornly weak. SME Lintech Engineering reduced manpower costs by 50 per cent and boosted productivity almost three-fold by developing a fully-automated robotic welding system that is common only within the manufacturing sector.

Since the Economic Strategies Committee recommended in 2010 to moderate the growth of foreign workforce, the firm has worked on tweaking its Singaporean versus foreigner employee ratio, said general manager Lim Yu Jey. “We’ve been (expecting the change) and working to change our company, it’s not as big of an impact to us.”

Source: http://www.todayonline.com

Small and medium enterprises (SMEs) form the backbone of the economy and they collectively employ the largest number of employees.

The challenge for many SMEs is that they are not well-informed about the PIC bonus, are too busy, or are not equipped with the right personnel and expertise to apply for the various schemes.

A quick check of enterprises around the neighbourhood and in light industrial areas can prove this to be true.

Even if they are knowledgeable enough to know how they can enhance their productivity and be more innovative, their organisational structures and resources are limited and their systems and processes are not as effective in implementing the new ideas.

There must be comprehensive educational programmes to help guide enterprises and hand-hold them through hands-on training and coaching.

If necessary, the Government should facilitate in helping SMEs to find appropriate mentors and models to help them achieve a higher level of growth.

These individuals can be selected from within and outside Singapore and they should be incentivised to help SMEs.

We should also highlight success stories so as to inspire other enterprises to improve their business models and operations, and these successful companies can also be encouraged to promote the PIC schemes. They can assist other enterprises to apply for the schemes.

Also, to track the success of the PIC scheme, there should be well-defined key performance indicators.

The implementation process should be measured and be iterative. Feedback from the ground should be tracked and used to improve the schemes and their execution processes.

The Government could also set up a one-stop centre to aggregate knowledge and expertise and integrate various services just for SMEs.

Source: http://www.todayonline.com/

In line with its international strategy, De Brauw Blackstone Westbroek opened its Singapore office in the summer of 2012 to better serve its client’s needs in the Southeast Asia-Pacific region, particularly in the areas of M&A, joint ventures, arbitrations and compliance work. This is done with the benefit of knowing and understanding their clients’ people, business, strategy, and risk appetite, in many instances after decades of cooperation with the clients.

Dieter Wolff is the resident partner of De Brauw Blackstone Westbroek Singapore and Lennard Keijzer is the resident senior associate. Dieter and Lennard work closely together with De Brauw’s main office in Amsterdam and its other offices in New York, London, Brussels and Beijing.

Contact:

Dieter Wolff (dieter.wolff@debrauw.com)

Keijzer (lennard.keijzer@debrauw.com)

De Brauw Blackstone Westbroek, Singapore Pte. Ltd.
MBFC Tower 3, 17/F, 12 Marina Boulevard
Singapore, 018982
T  +65 6809 5017 | F  +65 6809 5276
www.debrauw.com

• Business/Industry: Market research and business analytics
• Number of staff in Singapore: 5
• Country of Origin: Netherlands
• Year of Establishment: 1993

Website: www.pointlogic.com

What does Pointlogic stand for?

Pointlogic is a supplier of intelligence software that helps clients to make better tactical and strategic business decisions. We operate in industries like Media and marketing, HRM and Logistics. Our services set and allocate budgets which are founded in process and analytics. We assist by helping to create an objective and structuring the process that collects and interprets information of markets and products/brands. Information such as the growth of each market, changes in demography, pricing trends around products are all essential in setting and allocating budgets. Together with Pointlogic there will be a zero based validation of financial decisions incorporating trends, overall company strategy as well as the impact of marketing budgets.

Globally our uniqueness is our ability to bridge the information coming from market research and other sources with real business outcomes such as market share and sales. We are also known for our ability to cope with our client’s internal processes and to customize our solutions towards their processes and thinking. After all we like our clients to be confident in their marketing investment decisions and to understand result.

Why is Singapore a good location for Pointlogic?

With almost 20 years of experience, Pointlogic does not only operate from their headquarters in The Netherlands, but has also got headquarters around the world (UK, Germany, USA, Brazil). Pointlogic started to operate in Singapore two years ago in 2011.

From Singapore we got access to serve clients in the Asian regions. Currently we serve clients in Japan, China, India, Thailand, Singapore and Indonesia. We’re looking to increase our footprint towards mostly the Philippines and Australia. It is interesting to be present in markets that are just discovering the added value of analytical techniques for their marketing. Our major challenges here are the relatively low marketing budgets in this region. From our internal perspective the main challenge is finding the right resources for business development.

In the future we like to improve the standardization of our products so we can handle more scale at a lower cost. We plan to establish ourselves as thought leaders through public relations activities. Our focus is and will remain finding partnerships to co-operate within this region.

What can you describe as the achievements of your company?

Our success here started by finding the right partnerships in this region. We have some really exciting partnerships with Dentsu in Japan, Allied Media in India, Video Research in Thailand and with Ipsos globally. Furthermore we have seen that our clients here adopt our products and show more confidence in their marketing spend. These clients are extending their working relationship with us.

Improvements are a result of closely working with our clients and partners. It is important to understand their needs, that what makes them ‘tick’ and we have an extraordinary team. A team which ables to translate such needs into real formalized solutions.

In a statement, the Association of Small and Medium Enterprises (ASME) felt the WP has proposed “an even more drastic deceleration”, even as SMEs here have “painfully learned” to accept that there will be no U-turn in the Government’s “drastic tightening” of foreign manpower inflow.

The ASME yesterday said the WP’s proposal is based on increasing the labour force participation rate to 78.7 per cent, up from the present 66.6 per cent.

“This is easier said than done as there is an element of mismatch between available jobs and workers’ expectations,” the association, which represents 6,500 SMEs, said.

The ASME felt that similar to the Government’s foreign worker reduction policy changes, the WP has chosen not to address “this very real problem and lumped foreign labour and foreign talent into one big basket”.

“The void in the workforce cannot be filled by Singapore PMEs who wish for higher level, higher paying and higher comfort jobs,” ASME said, as it noted that the construction industry, the food and beverage industry and others in the service sector are having difficulties in recruiting Singaporeans.

This may lead to SMEs closing down, which will be felt as an “upward spiralling effect” by other PMEs who work in companies that provide their services to. “This inevitably leads to reduction in PME jobs for the growing number of Singapore PMEs, and hence impacting the overall quality of living of Singaporeans,” ASME said.

It felt that increasing resident workforce growth should complement a gradual tightening of the inflow of foreign workers. ASME also called for the tightening of inflow of foreign worker to be carried out “progressively”, together with more incentives and aid to help SMEs in the face of the current economic transition. SMEs are the cornerstone of the Singapore economy: They employ seven out of every 10 workers, and contribute over 50 per cent of the national Gross Domestic Product, according to SPRING Singapore.

Speaking on the sidelines of a community event yesterday, Defence Minister Ng Eng Hen welcomed ideas from various groups, such as political parties, civic groups or ordinary Singaporeans, on the population issues Singapore faces. The ideas raised, however, should be sound, he stressed.

Dr Ng said: “If you slow down foreign workers, SMEs go bust and Singaporeans lose their jobs – they are not trivial problems, they are real problems. So how do you solve things like that? I’m afraid there won’t be any magic bullet. It is not so easy, these are real challenges.”

Asked for his views on the WP’s paper at the sidelines of a community event last night, Deputy Prime Minister Teo Chee Hean said, “I really have nothing to add. It didn’t say anything new, so I really have nothing to add to what’s been said.”

Source: http://www.todayonline.com

Based in Eindhoven in the southern Netherlands, Philips announced in late January it was selling its lifestyle entertainment branch which makes audio, video and multimedia products to Japanese company Funai in a 150-million-euro ($199 million) deal.

The proposal to drop the word “Electronics” to rename the company “Royal Philips” will be put to shareholders at the annual general meeting in Amsterdam on May 3, Philips said in a statement.

“Philips is a diversified technology company focused on delivering meaningful innovation in healthcare, energy-efficient lighting and consumer health and well-being,” its chief executive Frans van Houten said.

“We believe having Royal Philips as our new company name will position us well in our endeavour to make the world healthier and more sustainable,” he added.

Founded in 1891, the company specialized for years in making light-bulbs and later televisions. In the last decade however, it has diversified into manufacturing medical equipment such as resonance scanners.

It has been operating under the name “Royal Philips Electronics” since 1991.

“We believe the new name better reflects that consumer electronics is not our priority anymore,” Philips spokesman Steve Klink told AFP.

Last year, Philips finalized the sale of its television-making arm — a victim of competition from Asia — and the Funai deal in January saw Philips stop manufacturing products such as stereos and DVD players.

The company however will continue to make small appliances such as razors, electronic toothbrushes and coffee makers.

“It won’t change much for our customers at the moment,” Klink said adding that the companies that bought its television and entertainment arms have signed an agreement with Philips to allow it to continue use of the company’s brand name for the next few years.

Source: http://www.livemint.com

The current Second Series coins were first introduced in 1985 and featured local plants and flowers, depicting Singapore as a garden city.

But they’ll soon make way for the Third Series featuring five of Singapore’s national icons and landmarks – the Merlion, Port of Singapore, Changi Airport, Public Housing and the Esplanade.

For example, HDB flats – home to more than 80 per cent of Singaporeans – will be featured on the 10-cent coin… and the Esplanade on the 5-cent coin.

“Coins reflect the events, persons or symbols significant to a nation. The new series coins depict local icons and landmarks that are familiar to Singaporeans and reflect various aspects of Singapore’s progress as a nation,” said Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS).

Each coin denomination has an electro-magnetic signature, which allows vending machines to detect counterfeit and foreign coins.

The one-dollar coin contains additional security features such as its bi-metallic composition and laser mark micro-engraving in the shape of Singapore’s national flower, the Vanda Miss Joaquim.

The new coins will have larger denomination numerals for easy identification and features to facilitate identification by the visually-impaired.

The coins are progressively sized by denomination, with the 5-cent coin being the smallest and one-dollar coin being the largest.

Mrs Foo-Yap Siew Hong, Assistant Managing Director of MAS, said, “The Second Series coins have been in use for more than 25 years. There will be a period of adjustment as we all get comfortable with the new coins. MAS will continue to work closely with our stakeholders to smoothen the transition.”

MAS says it has been working with public transport operators to ensure that coin-operated machines at MRT/LRT stations are calibrated to accept both the current and new series coins before the launch.

It has also been working with businesses with coin-operated facilities such as vending machine operators and supermarkets to prepare them for the launch.

And to ensure a smooth transition, the current series will continue to be legal tender, as they are phased out over the next four years.

source: channelnewsasia.com

The European Union and Singapore have successfully completed talks on a free-trade pact, in a deal which is slated to make it easier for European auto makers and financial institutions to do business with and in the city state.

Countries around the world are increasingly seeking to lower barriers with their trade partners, in an attempt to boost their economies amid subdued global demand. Earlier this year, China, Japan and South Korea agreed to formally launch trade negotiations, and a free-trade agreement between the EU and Korea came into force in July last year.

A draft agreement between the EU and Singapore is expected to be signed in the spring, once both sides have sought approval for the deal from their respective parliaments, the EU said Sunday. It added that investment talks—which started later than the main discussions—would continue, and hopefully conclude by the summer.

Singapore’s trade ministry described the agreement as “broad-based” and “comprehensive,” encompassing tariff-free access for goods, greater access to services markets, intellectual property, competition policy, technical barriers to trade, government procurement and sustainable development.

EU Trade Commissioner Karel De Gucht, who held discussions Sunday with Minister of Trade and Industry Lim Hng Kiang in the Asian city state, said he hoped the pact would open the way to similar agreements with other countries in the 10-member Association of Southeast Asian Nations—the EU’s third-largest trading partner outside of Europe.

“Singapore is a dynamic market for EU companies and is a vital hub for doing business across Southeast Asia. This agreement is key to unlocking the gateway to the region and can be a catalyst for growth for EU exporters,” Mr. De Gucht said in a statement.

The EU said that Singapore had agreed to tackle technical barriers in sectors including cars, electronics and renewable-energy equipment, which would make it easier for European goods to be sold in Singapore.

Under the agreement, the EU will remove tariffs on all imports from Singapore over five years, while Singapore will immediately allow duty-free access for all imports from the EU, Singapore’s trade ministry said Sunday. The EU is the top destination for Singapore’s exports.

The EU and Singapore will extensively guarantee access to each others’ services markets, including in the fields of environmental services, computer and related services, professional and business services, financial services and maritime-transport services, it added.

In the area of financial services, the EU said it obtained commitments which were “at least on a par” with the U.S.’s free trade agreement with Singapore.

“Singapore is confident that the [trade pact] will further enhance our bilateral economic relations, and pave the way for a region-to-region trade deal between the EU and Asean,” Mr. Lim said in a statement.

A key sticking point in the intellectual-property talks was the protection of “geographical indications.” While the EU had insisted that producers should have exclusive rights to use those distinctive place names, Singapore—like many countries—reserves its strongest protections for trademark holders, even if they have no ties to the location touted by the product’s name.

In an apparent partial concession by the Asian city state, Singapore will create a register for regionally specific and recognized foodstuffs, wines and spirits, offering “a high level of protection to the EU’s most valuable geographical indications on the Singaporean market, such as Bordeaux wine or Parma ham,” the EU said. The pact will also result in the elimination of several nontariff measures, improving access for exporters of pharmaceuticals and electronics, and increase access to government procurement opportunities, Singapore’s trade ministry said.

Singaporean exporters of electronics, pharmaceuticals, chemicals and processed food products will particularly benefit from the removal of EU import tariffs, it added.

source:WSJ.com

Shell said a “final investment decision” has been made to raise annual capacity by more than 100,000 tonnes a year and add new grades to its product offer.

It did not disclose the investment amount, but industry experts have estimated it to be a multi-million dollar one.

The upgrading, which will start this year and will be completed next year, will boost annual capacity from 230,000 tonnes to around 360,000 tonnes, said a Shell spokesman.

Polyols is a raw material used to make high-quality foam for the furniture, bedding and automotive sectors.

“The Asia-Pacific market for polyols has grown rapidly over the years and we see increasing demand for higher-comfort products, hence the requirement for a wider polyols offering,” said Mr Graham van’t Hoff, Shell Chemicals executive vice-president.

“The additional volume and grades from this investment will enable us to meet customer demand growth from key markets in Asia, particularly China.”

The upgrading will involve optimising existing facilities and using a catalyst to boost the on-site conversion of propylene oxide and ethylene oxide to polyols.

Shell Jurong Island general manager Chiew Nguang-Yong said: “Customers will clearly benefit from our investment as we can now produce the products they need more sustainably and efficiently.”

Last November, Shell said it would expand capacity at its ethylene cracker complex on Pulau Bukom to ramp up production of olefins and aromatics by more than 20 per cent.

The ethylene cracker, which started up in March 2010, is the centrepiece of the US$3 billion (S$3.7 billion) Shell Eastern Petrochemicals Complex.

Shell Chemicals hinted last December that there will be more projects in Singapore lined up in the coming months.

Source: sgprocessindustries.com

South Asia importance
Our scope of services in Indonesia – operated by 5 employees – ranges from everyday transport business like Air and Sea Cargo as well as warehousing and customs brokerage services. Stefan Krauter, CEO of the cargo-partner group notes: “Indonesia is a constantly growing location in South Asia – with 238 million inhabitants, it is the 4th most populous country in the world. For the next decade we expect steady growth and a rise of the exports from this country. Indonesia is rich in mineral resources and agricultural products. Besides it holding a strong and fast developing textile industry, more and more labour-intensive industrial enterprises are being established in this country.”

source: www.cargo-partner.com

TNT Express remains profitable in Europe but earnings have been offset by setbacks in Asia, Brazil and the Americas in general.

The company said on Monday it will present a new strategy within a month. At the beginning of this year , the European Commission finally called a halt on competition grounds to TNT Express’s plans to merge with UPS.

Source:Dutchnews.nl

The company, whose Singapore refinery is its biggest globally, will relocate to Buona Vista from its current location in the central area of River Valley, Serene Loo, a company spokeswoman said in an e-mailed statement.

“This move will allow us to bring our office staff under one roof and to enable us to cater for the company’s future growth in Singapore,” Loo said.

Shell plans to move its natural-gas business to Singapore from The Hague in response to to growing demand for liquefied natural gas in Asia, the company said in December.

source: bloomberg.com

For December, the eurozone had a trade surplus of 11.7 billion euros, down from 13 billion euros in November, as exports fell 1.8 percent and imports by 3.0 percent, the Eurostat agency said.

For the wider 27-member EU, December showed a trade deficit of some 700 million euros
after a deficit of 1.9 billion euros in November, as exports dropped 1.9 percent
and imports were down 1.6 percent.

For 2012, the full EU suffered a trade deficit of 104.6 billion euros, improving from a deficit of 162.7 billion euros in 2011.

Eurostat said that for the January-November 2012 period, the EU
27 deficit on energy increased to 388.6 billion euros from 354.6 billion euros
in the same period a year earlier, while the bloc enjoyed a surplus in manufactured goods of 330.8 billion euros, up from 224.9 billion euros.

Among member states for the same period, powerhouse Germany had
the biggest trade surplus at 174.6 billion euros, followed by the Netherlands,
Ireland and the Czech Republic.

Britain had the largest deficit at 152.9 billion euros, with France, Spain and Greece next.

source:channelnewsasia.com

The new arrivals were responsible for creating 1,344 jobs, said the Amsterdam Inbusiness organisation, quoted by news agency ANP. The organisation is responsible for attracting companies to Amsterdam, Almere, Amstelveen and the Haarlemmermeer area around Schiphol airport.

Many of the new firms operate in IT, the creative industries and business services. Most (52) come from North America. Some 2,000 foreign firms now have operations in the region, and account for some 15% of the jobs.

At the same time, however, a number of firms left the region. This included 15 companies with a workforce of more than 20, the organisation said, without giving further details.

source: dutchnews.nl