Let’s be honest with ourselves, OK?

China is all that really matters for global stock markets.

If China’s economy slows more than expected in 2012 — and grows at something significantly less than the 8.2% to 8.5% now expected — it won’t really matter what the eurozone nations do about the Greek debt crisis or whether the United States stimulates its economy. In 2012, growth in the world economy will slip far enough to throw the developed world into something very close to a recession, and global stock markets will suffer through yet another painful bear market.

In the short term — let’s say for October, November and maybe December — what the United States and the eurozone do matters.

If the United States, through some currently unimaginable political alignment, were to implement a significant program of government spending on infrastructure and tax cuts to stimulate the domestic economy, global stock markets would rally.

If the eurozone countries manage to put together some credible package that kicks the euro debt crisis down the road into December and maybe into 2012, then global stock markets would rally.

But the rally wouldn’t last long if economic numbers and anecdotal news reports fed into worries about slower-than-expected growth in China.

On the other hand, if the evidence started to point away from the possibility of slower-than-expected growth in China, then a temporary rally on good news from the United States and the eurozone could turn into a lasting rally in global markets.

And I think that China is so central to global stock markets right now that good news on China’s growth in 2012 would produce a rally in global stock markets — and even to a degree in U.S. and European stocks — even if the U.S. didn’t do anything to stimulate growth and European nations wound up with a Greek default. (Although under that scenario, I’d still rather be underweight U.S. and European markets.)

If all this is true, then the big question is, How real are current worries that China will slow more than is now expected in 2012?

China is slowing down

There’s no doubt that China’s growth is slower than it was. China’s gross domestic product grew at a 10.3% annual rate in 2010. In the first quarter of 2011 that growth rate dropped to 9.7%, and in the second quarter it declined to 9.5%. Economic forecasts call for a further drop to anywhere from 9.0% to 9.3% for the third quarter.

This is exactly the kind of controlled slowdown that China’s government has been hoping to engineer in order to control inflation — which seems to have peaked at 6.5% in July — and to reduce speculation in the real-estate market. It would put China on a path for the 8.3% to 8.5% growth that the consensus is looking for as a bottom to China’s growth rate.

As decades of rapid and largely equitable growth in this Asian Tiger give way to a widening gap between rich and poor and slowing social mobility in a country often boastful of its meritocratic traditions, the government needs to adopt a more activist stance that better supports citizens, said the paper, penned by six economists for the city-state’s Institute of Policy Studies.

That means expanded welfare programs, more redistributive policies, and a bolder, experimental approach to policy making, among other steps.

It’s a fairly radical prescription for an island nation that has long been a darling of foreign bureaucrats, many of whom flock here to study its policy-making and economic management, led by a People’s Action Party government that emphasizes individual responsibility, lean social security and growth over distribution.

But the current social contract – optimal for places with young populations, rapid growth, full employment, and rising real wages – “would not be sufficient to ensure equitable and inclusive growth in the face of the changes unleashed by globalization, rapid technological change, and our own policies,” the economists said in the paper released Monday on the IPS website. The authors include academics and former senior civil servants who carry significant heft in policy-making circles, including Manu Bhaskaran, an academic at the Lee Kuan Yew School of Public Policy; Donald Low, a former senior bureaucrat at Singapore’s finance ministry; Tan Kim Song, an economics professor at the Singapore Management University; and Yeoh Lam Keong, former chief economist at the Government of Singapore Investment Corp.

Analysts widely believe that the days of double- and high single-digit growth rates year-in, year-out are things of the past; Prime Minister Lee Hsien Loong recently said the city-state would do well to average annual growth of over 3% in the coming decade. Rising socioeconomic tensions meanwhile are throwing up political challenges for the PAP, which came through May’s general election with its narrowest victory margin since Singapore’s independence in 1965, and saw its favored candidate barely win a presidential vote in August.

These electoral setbacks “reflected a discontent with the current model of economic and social development: the over-riding emphasis on growth over distribution; the inadequacy of our social safety nets and the uncertainty this creates; wage stagnation for significant elements of the workforce even as a small segment at the top enjoys large increases; and the increase in inequality,” the economists wrote in the paper.

Piecemeal tweaks won’t arrest these problems. “Singapore must find a social compact that achieves a better balance between growth and equity, and between individual responsibility and social insurance,” they said.

The solution, they said, involves creating sturdier social safety nets and rolling back a market-fundamentalist approach that has transferred risks from the state to citizens in areas like public housing, social security, and healthcare. While retaining the essence of Singapore’s admired social institutions, policy makers should also borrow successful ideas from Scandinavian and East Asian contemporaries, and reject existing dogma – like the insistence on the virtues of small government and low taxes, and a reflexive rejection of expanded welfare – the economists said.

Crucially, Singapore’s strong balance sheet allows it to pursue such reforms without sacrificing fiscal prudence and sustainability, the economists argued. Risks of moral hazard from increased social interventions can also be mitigated with creative policy formulation, they added.

It is unclear if the PAP government, which has enacted comparatively modest reforms so far, would be prepared to pursue these recommendations. A PAP spokesman wasn’t immediately available to comment.

However, the authors of the paper acknowledge that the first step to change is often the hardest.

“The main obstacle [to creating a new social compact] lies in a mindset that often does not recognize the need to make important, and sometimes radical, systemic changes as [Singapore’s] operating context changes,” they wrote.

Source: The Wall Street Journal

The excellent speaker Dr. Verwey revealed that this job was far most the most exciting and challenging experience in his career. He and the team of specialists were accommodated at the FROC (Thai Flood Relief Operations Centre) and faced beside the enormous dimensions of the disaster also political and organizational challenges.

In the beginning the Thai authorities believed they could handle the disaster by pumping the water through the existing canals and contradictory statements were the norm within the authorities.

Dr. Verwey added to this that he was impressed and touched by the help of the army and mostly the local Thai people who built tens of kilometers sand bag walls.

The specialist team did not fear many hours of field visits and often meetings ended after midnight, but the achievements were relieving: the flood extends and flood depths were reduced and the breaking of the Choa Phaya dike was avoided. The Thai authorities were now capable of spreading better information to the public and to the corporate world.

For Dr. Verwey it was a clear statement: The Dutch specialists are now branded as the world class rescuers for water problems!  .

Source: DutchCham

The economy grew 3.6% between October and December, from a year earlier, down from 5.9% in the previous quarter.

For the full year, Singapore’s economy grew by 4.8%, a sharp decline from a 14.5% expansion in 2010.

Prime Minister Lee Hsien Loong has warned that growth is likely to weaken further in 2012.

“The external environment is uncertain. Debt problems in Europe are far from solved. Next year looks like being difficult for the global economy,” the prime minister said in his new year’s message.

“As a small, open country, Singapore will inevitably be affected,” he added.

On a quarter-on-quarter annualised basis, the economy contracted by 4.9% during the period, compared with a 1.5% gain in the previous quarter.

Manufacturing hurt

The manufacturing sector is one of the key drivers of growth of Singapore’s economy. However the sector has been hit hard by a combination of various factors in recent months.

Firstly, the debt crisis in the eurozone and a sluggish recovery in the US has seen a fall in demand from those key markets.

Secondly, the floods in Thailand in the latter half of 2011 disrupted supplies of components such as hard disk drives, hurting production at Singaporean factories.

Data released last month showed that industrial production fell by 9.6% in November from a year earlier, with electronics production down by 30.1%.

The Ministry of Trade and Industry said the decline was a big drag on economic growth.

“The moderation of growth in the fourth quarter was largely due to the slowdown in the manufacturing sector,” it said in a statement.

Overall, the manufacturing sector grew by 6.5% in the the three months to the end to December from a year earlier, down from a 13.4% expansion in the previous quarter.

Source: BBC News

Green
When you enter the first platinum LEED rated building in Europe* — the new TNT Centre located in Hoofddorp, The Netherlands — you are immediately struck with just how simple it is to reduce energy consumption. You push the revolving door to enter. At the heart of the interior is a staircase. There is no sign of an elevator (although they do, of course, exist).

At the head of the building is a glass roof, which emanates natural light far more efficiently than light bulbs ever could. The TNT corporate headquarters is powered, to a very large degree, by an impressive design, which includes a subtle push for people to make better choices. Energy is provided by a few solar panels and a biofuel energy system that produces more than enough to power three neighboring buildings as well.

The Rotterdam-based entrepreneurs who built the TNT headquarters building, OVG real estate developers, are in high demand worldwide. At the Clinton Global Initiative, former President Clinton challenged OVG to be a part of President Obama’s $4 billion commitment to create green jobs in the beleaguered construction industry, by providing much needed energy upgrades of federal and private sector buildings. And the United States is not the only country calling. According to Cees J. van der Spek, OVG’s sustainability director, eight other countries, including BRIC (Brazil, Russian, India and China) have also contacted OVG. The company has more demand than they can keep up with.

Political Will
OVG is taking the lead (and LEED) in the private sector and reaping the rewards, but if you visit the Netherlands, it’s easy to see that the Dutch green culture has been cultivated with smart public policy. Most of the locals in Amsterdam get around on bikes; half of residents use their bike daily and 85 percent are riding at least once a week, according to Ria Hilhorst, Amsterdam’s cycling official. Trains, buses and trams are available everywhere throughout the Netherlands. And if you choose to own a car, you are taxed on the weight of it, incentivizing owners to go for smaller, more fuel-efficient vehicles.

The governments in Germany and Denmark succeeded in making bicycling safe and attractive, as well. Could bicycling (as an alternative to gas-guzzling cars) underpin one reason why these countries are doing so much better economically than the U.S. and other European countries, particularly PIIGS (Portugal, Ireland, Italy, Greece and Spain)?

Pedal-power policy has created a strong, healthy (physically and fiscally) culture that has put the Netherlands, Denmark and Germany at the top of the developed world in providing efficient social systems at far lower costs than the U.S., as I outline in greater detail directly below. This is particularly visible in one of the largest drains of GDP in the U.S. — health care.

Physical Health
Riding a bike pays off dramatically in physical health. There are far lower rates of obesity in nations whose citizens pedal their bikes to work, than there is a nation where people spend hours each day in cars and in front of computers. Obesity is an epidemic in the U.S., where 34 percent of Americans are obese. As Mike Milken, the chairman of the Milken Institute, an economic think tank, says, “If everyone in America lost weight and returned to the same weight levels of 1991, we would save one trillion dollars. We would cover all the uninsured, and we would be able to quadruple the money for medical research.”

Good food is another pride of the Dutch. Restaurants, like de Apotheek wine salon (in the Hotel Pulitzer in Amsterdam), pride themselves on serving only wine and food that have been grown using sustainable farming techniques that will preserve the soil and seeds for centuries to come. Of course, there are American fast food restaurants in Dutch cities, mostly for the American tourists; however, the locals love their organic produce and lean, wild game. (Deer is very popular.)

Fiscal Health
Good health dramatically reduces the costs of health care. In the Netherlands, a country where most citizens have health insurance, health expenditures are 10.8 percent of GDP, compared to 16.2 percent in the U.S. Denmark’s health to GDP is an impressive 7 percent, and Germany’s is 8.1 percent. And the U.S. has a higher infant mortality rate than the Netherlands, Denmark and Germany (6.06 deaths/1,000 live births compared to 4.59 in the Netherlands), more than two and a half times as many women dying in childbirth (24 deaths/100,000 live births compared to 9) and a lower life expectancy (78.37 in the U.S., 80 in the Netherlands), according to CIA.gov’sWorld Fact Book.

Peace
The United States also spends almost three times as much on our military, by GDP, than the Netherlands, Denmark and Germany, at 4.06 percent, 1.6 percent, 1.3 percent and 1.5 percent respectively. With two wars in the Middle East, one could easily make a case that our oil addition, which costs the U.S. $8 billion or more in OPEC deficit each quarter, is the primary reason we’ve become such a warring, indebted nation. We pay a high price in health, defense spending, soldier’s lives and GDP growth stagnation to feed our oil addiction.

Amsterdam is a peaceful city, famous for its “live and let live” attitudes (legalized prostitution and drugs), both now and historically. In the 1600s, if you wished to escape religious persecution and try your hand in America, the Dutch were great seamen, who frequently shuttled Europeans over to New Amsterdam (and profited from the slave trade as well). In 1969, John Lennon and Yoko Ono staged their famous honeymoon Peace Bed-In at the Amsterdam Hilton. Visitors today can stay in the same suite, which has been preserved, with Yoko’s input, and includes Lennon lithographs, peace memorabilia and other artwork symbolizing the spirit of the event and time.

There is much to be learned from the Dutch, who have found a way, through public and private partnerships, cultural indoctrination and political will to make green peace a part of daily life. They are reaping the physical/fiscal benefits at a time when the world needs bold, effective solutions.

If you are interested in visiting The Netherlands, be sure to watch out for my travel article, which will be published in January 2012, and includes important travel tips and the best restaurants and landmarks in Amsterdam.

*According to the U.S. Green Building Council, the TNT Centre was the first building in Europe to be listed platinum LEED in its directory.

Source: http://www.huffingtonpost.com

Eurozone chief Jean-Claude Juncker said after a three-and-a-half-hour conference call that the 17 single currency countries had pledged 150 billion euros ($195 billion) in new loans for the International Monetary Fund to use in stabilising the debt-laden euro area.

The shortfall from a 200-billion-euro target announced by EU leaders at a December 9 summit was in large part caused by Britain’s refusal once more to sign up on the terms demanded.

Britain’s share, based on IMF quotas determined by wealth and size, would be in the order of some 30 billion euros.

The IMF currently has some 250 billion euros available for lending to countries that enter reform programmes.

The appeal for help from states who rely on the eurozone as a major trading partner and fear recession in 2012 has put pressure on the United States as the biggest IMF contributor. Washington however has its own debt and budget crises to contend with.

“The EU would welcome G20 members and other financially strong IMF members to support the efforts to safeguard global financial stability by contributing to the increase in IMF resources so as to fill global financing gaps,” Juncker said in a statement.

He said the Czech Republic, Denmark, Poland and Sweden had each pledged to make loans, but added that Britain would only “define its contribution early in the new year in the framework of the G20.”

A British government spokesman said: “The UK has always been willing to consider further resources for the IMF, but for its global role and as part of a global agreement.”

A diplomat involved in the talks said the European Union as a whole “implicitly” agreed to cough up, using individual loans.

A key factor, though, will be how the Americans respond.

Juncker, who spoke of a “special responsibility” for eurozone states, noted that for some countries, notably Germany, parliamentary approval will be required before it will come up with the lion’s share at 45 billion euros.

The head of the German central bank said last week that it will only do so on condition the very biggest G20 contributors come through with the goods.

Jens Weidmann said that Germany’s quota is available, provided there is “fair” burden-sharing among IMF members.

But “if large members, for example the US, were to say ‘we’re not taking part,’ then from our point of view it is problematic,” he said.

Russia last week suggested in Brussels that it could contribute up to $20 billion in loans and investments via the IMF but China, India and Brazil have yet to go that far.

Finance ministers knew international credit rating agencies were watching closely – after one of the biggest, Fitch, warned that a meaningful solution may prove “beyond reach” of the EU.

The diplomatic source told AFP that the British government could not sell more money for the eurozone now to increasingly sceptical voters.

Finance minister George Osborne has maintained his position that London will not fund special eurozone aid since a G20 summit in Cannes in early November.

The latest sign London is out of synch with broader EU goals came 10 days ago after Prime Minister David Cameron vetoed an EU treaty change and then opted out of a subsequent pact to create a new “fiscal union.”

The EU leaders decided to give the IMF the lead following months struggling to increase their existing, stretched eurozone bailout fund, the 440-billion-euro European Financial Stability Facility (EFSF) set up last year after Greece had to be rescued.

The agreement should offer some respite on the day that European Central Bank (ECB) chief Mario Draghi described as “morbid speculation” interpretations of an interview in the Financial Times in which he appeared to envisage a eurozone break-up.

In the interview, he said that if countries left the eurozone, they would only “have to undertake the same reforms that were due to begin with, but in a much weaker position.”

That was seen as breaching the ultimate taboo, but he insisted: “I have no doubts whatsoever about the strength, the permanence and the irreversibility of the euro.”

Source: AFP/www.channelnewsasia.com

Saab CEO Victor Muller said “the last nail in the coffin” was previous owner General Motors Co.’s rejection of a Chinese company’s attempts to gain control of the ailing Swedish brand. Muller personally handed over the bankruptcy petition to a Swedish court, which approved it late Monday.

Though a theoretical chance remains for a new buyer to step in during the bankruptcy process, analysts said Saab’s troubles underline how difficult it is for a small, niched carmaker to survive in today’s competitive global market.

“I think it does kind of reflect the situation in the industry that scale is everything,” said IHS Automotive analyst Ian Fletcher. “Everyone else have been snapped up … Saab unfortunately were the last people waiting to dance with someone and they didn’t have the right partner.”

Volvo Cars, Sweden’s other car maker, is presently ramping up production after China’s Geely Holding Group bought it from Ford Motor Co. last year.

Muller, a Dutch entrepreneur, used his luxury sports car maker Spyker Cars to buy Saab from GM in 2010 for $74 million in cash plus $326 million worth of preferred shares. He vowed to gradually increase production while restoring Saab’s Swedish identity — which critics said was diluted under GM ownership. But the company ran out of money just a year later.

As production stopped and salary payments were delayed, Muller fended off bankruptcy by selling Saab’s real estate and lining up financing deals with investors in Russia and China. He bought time by placing the company in a reconstruction process under bankruptcy protection.

But the deals fell through, blocked by regulators or by GM, which was concerned that its technology would end up in the hands of Chinese competitors.

The final Chinese suitor, Zhejiang Youngman Lotus Automobile Co., said it was hoping for a deal “to the last moment” but pulled out after the last proposal for a solution was rejected by GM over the weekend.

GM spokesman Jim Cain told The Associated Press Saturday that each new proposal “results either directly or indirectly in the transfer of control and, or ownership of the company in a manner that would be detrimental to GM and its shareholders.”

In another email Monday, Cain said he had nothing to add “except to say it is unfortunate.”

The news was grim for Saab’s more than 3,000 employees, torn between hope and despair for the past three years.

“This is the most unwelcome Christmas gift I could have imagined,” said Fredrik Almqvist, 36, who has worked at Saab’s assembly line for nearly 17 years.

While experts say the company is likely to be chopped up and sold in parts, local officials in Saab base Trollhattan — around 75 kilometers (46.6 miles) north of Sweden’s second-largest city, Gothenburg — were hoping a new buyer would emerge to salvage the brand.

Saab’s small but loyal following of enthusiasts around the world, enamored with the carmaker’s pioneering use of turbocharged engines, heated seats and quirky features — such as ignition locks between the front seats — had also not given up hope of the firm’s survival.

“Saab drivers don’t want to drive run-of-the-mill cars. They want something that is more unique, more individual, but also of a good value,” said Mike Philpott, chairman of the Saab Owners Club in Britain. “Very safe, very well-built and also slightly unique and actually a little quirky. And we like those quirky parts of Saab.”

Originally an aircraft maker, Saab entered into the auto market after World War II with the first production of the two-stroke-engine Saab 92. It soon became a household name in Sweden, and in the 1970′s released its first turbocharged model — the landmark Saab 99.

GM bought a 50 percent stake and management control of Saab in 1989, and gained full ownership in 2000. The aircraft and defense company with the same name remained an independent entity, building fighter jets and weapons systems.

Saab Automobile’s sales peaked at 133,000 cars in 2006. After that, sales dwindled to 93,000 in 2008 and just 27,000 in 2009, as GM — itself in bankruptcy protection following the financial crisis — prepared to wind down the Swedish brand.

Muller stepped in after a takeover attempt by a consortium led by Swedish sports car maker Koenigsegg failed. Analysts expressed doubt over Saab’s chances of survival under Spyker, which later changed its name to Swedish Automobile.

Spyker manufactured only a few dozen high-priced cars a year and had never made a profit. Without support from other investors, Muller’s plans didn’t seem credible, critics said.

As the liquidity crisis deepened, he turned to Youngman and Pang Da Automobile Trade Co., another Chinese automaker, for financing. Muller blamed the former administrator of Saab’s reconstruction, Guy Lofalk, for the collapse of those deals, saying Lofalk had led the Chinese investors to believe they could become sole owners of the company. Muller said he knew that was impossible given GM’s concerns about licenses.

“Until this problem arose the relationship with GM was excellent,” Muller said.

Calls to Lofalk’s office were not answered Monday.

AP Business Writer Elaine Kurtenbach in Shanghai and Tom Krisher in Detroit contributed to this report.

Copyright © 2011 The Associated Press. All rights reserved.

Despite this pessimism, the majority of males expect to receive a bonus (85%) at the end of the year compared to 81% of the 214 female respondents.

Expectations for higher remuneration in 2012 is also clear, with 68% of men and 71% of women surveyed expecting a pay rise at the end of the year. The survey also found that 77% of male respondents do not believe their salary reflects accurately their performance, whereas the figure for females is 68%.

Randstad Regional Director, Singapore & Malaysia, Ms Karin Clarke, says despite economic uncertainty in the Eurozone, Singapore remains an employees‟ market given the country‟s low 2.0% unemployment rate.

“Employers‟ can expect to see continued upwards wage pressure in 2012. While the expectation for remuneration differs between the sexes, companies should equally apply the same talent retention strategies to both men and women.
“Remaining focused on attracting and keeping top talent should remain a priority for organisations. This may mean reviewing salary and benefits in order to maintain strong and motivated talent to drive growth when the global economy recovers,” says Ms Clarke.

The survey also found that:

• 69% of employees in Singapore expect to have a higher disposable income in 2012 than in 2011.
• 71% of employees in Singapore would be willing to move abroad for a job if they were paid more.
• Yet only 49% would still be prepared to move for a job better suited to them, even if their salary remained the same.
• 71% of Singaporean workers expect to work longer than their official retirement age.

The Randstad Workmonitor
After the successful introduction of the Workmonitor in the Netherlands in 2003 and more recently in Germany, the survey now covers 29 countries around the world, encompassing Europe, Asia Pacific and the Americas. The Randstad Workmonitor is published four times a year, making both local and global trends in mobility regularly visible over time. The Workmonitor Mobility Index, which tracks employee confidence and captures expectations surrounding the likelihood of changing employers within a six month time frame, provides a comprehensive understanding of job market sentiments and employee trends. In addition to measuring mobility, also employee satisfaction & personal motivation, as well as a rotating set of themed questions are part of the survey.
The quantitative study is conducted via an online questionnaire among a population aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed), by Survey Sampling International.

Source: http://www.randstad.com.sg

The group – Humanitarian Organisation for Migration Economics (Home) – also urged the Government to, among other things, put in place a ‘specialised anti-human trafficking law’ in its statement on Sunday to mark International Migrants Day.

‘We urge the state to make our laws work effectively for the protection of migrant labour against exploitative practices and unjust working conditions,’ said Home president Bridget Tan in the statement.

The statement was issued as part of Home’s celebration lunch, which was attended by more than 500 migrant workers.

Total employment grew by 31,900 in that period. This is higher than the second quarter’s gains of 24,800, and 20,500 in the third quarter of last year.

This brings the total employment figure for the first nine months this year to 85,000, slightly higher than the gains of 82,000 in the same period in 2010.

Most of the employment gains in the third quarter of 2011 came from services (21,200), slightly higher than in the preceding quarter (20,200). Supported by public sector projects, construction workforce rose by 6,800, higher than the gains of 3,600 in the previous quarter. Manufacturing registered gains of 3,700, up from 800 in the preceding quarter.

Randstad Regional Director, Singapore & Malaysia, Karin Clarke commented: “Strong hiring in Q3 reflected seasonal demand of manpower to support year-end festivities. Singapore’s expected growth forecast of between 3 per cent to 3.9 per cent for 2012 by private sector analysts illustrates confidence in Singapore’s economy, even as some companies hold a more conservative outlook for the new year.”

The seasonally adjusted overall unemployment rate also showed a slight decline, from 2.1 per cent in June 2011 to 2.0 per cent in September 2011.

Long-term unemployment remained low. 19 per cent of the unemployed residents in September 2011 had been looking for work for at least 25 weeks, down from 21 per cent or 11,200 a year ago.

Job vacancies dropped by 3.4 per cent over the quarter to 54,000 in September 2011, but remained 7.6 per cent higher than a year ago. This is the first quarterly decline since March 2009.

Nominal average (mean) monthly earnings rose over the year by 5.4 per cent in the third quarter of 2011, but this is lower than the 6.0 per cent growth in the preceding quarter.

After taking inflation into account, real average monthly earnings slipped by 0.2 per cent, the first decline after six consecutive quarters of year-on-year growth.

“This is in line with Randstad’s Workmonitor results released yesterday which showed that the majority of survey respondents expect to receive a bonus at the end of this year despite half of respondents expecting 2012 to be more financially difficult than 2011. A large number (69 per cent) of employees expect to have a higher disposable income in 2012 than in 2011,” said Ms Clarke.

The Ministry of Manpower said: “The employment outlook for the fourth quarter of 2011 has softened, as employers turn cautious, in anticipation of weaker economic conditions ahead….Going forward, employment gains are expected to moderate, beyond the temporary rise in manpower demand during the year-end and Lunar New Year festivities.”

Ms Clarke added: “Employers will continue to see upwards wage pressure in 2012. Companies still need to remain focused on talent attraction and retention if they wish to grow. This means having a robust yet flexible human capital strategy that will see the company maintain competitiveness through challenging periods.”

Source: The Business Times

The treaty is intended to help improve confidence in the euro by tightening the coordination of the 17 euro zone economies, requiring nations to balance their budgets and cut debt.

The outline of the plan was agreed to by most European leaders a week ago, with the exception of Britain. European officials hope to reach agreement on the eight-page draft of the treaty within weeks, with Britain being offered observer status in discussions.

The treaty will enter into force “on the first day of the month following the deposit of the ninth instrument of ratification by a contracting party whose currency is the euro,” the draft states.

That means that if one country held a referendum on the treaty and did not approve it, the decision would not block others from putting it in place once nine other nations ratified it. The terms of the treaty will, however, apply to each country only when the country ratifies it.

If a euro nation fails to ratify the treaty, it would be in an “uncomfortable position” politically, said one European official who spoke on condition of anonymity.

The draft makes it clear that countries outside the euro will not be forced to abide by the treaty before joining the currency alliance, but they can opt to do so.

That makes the treaty easy for most of the nations not using the euro to accept, said one diplomat from a country not using the currency who spoke anonymously because he was not authorized to speak publicly.

Because the agreement is an intergovernmental one, rather than an amendment of a European Union treaty, any moves to make sanctions easier to impose on nations that break deficit and debt limits are complex.

Under the proposed treaty, nations would agree to abide by tougher rules than those currently laid down in the European Union treaty. If broken, that agreement could not be enforced by the European Court of Justice, though national courts could be able to do so, officials said Friday.

The treaty would require nations to write debt brakes into their national law. Summit meetings of euro zone leaders would take place at least twice a year.

Jean-Claude Juncker of Luxembourg, who leads the group of euro zone finance ministers, said he was confident that Europeans would meet a Dec. 19 deadline for arranging 200 billion euros ($260 billion) in loans to the International Monetary Fund to help bolster emergency financing for vulnerable nations that use the euro. Euro zone countries are expected to provide 150 billion euros ($198 billion), while it was hoped that nations not using the euro would contribute around 50 billion euros ($66 billion).

“Countries have to say within 10 days what’s happening, and we’re collecting this at the moment,” Mr. Juncker said Friday in Luxembourg, according to Bloomberg News. Asked if the European Union would meet this deadline, he said, “I think so.”

Source: The New York Times

Interview with Dutch DJ Chuckie

Is this the first time in Singapore?

No, I came before to Singapore, I love it here, the people are nice and the food is delicious.

This week you were in Thailand and Jakarta,  how is the Asian crowd?

It is a great crowd, mixed people, they are very on track.  I often use the microphone to listen to the crowd and the participation is rewarding.

Now at Zouk Out, is this your first time?

Yes, this will be my first time at Zouk Out. I already heard amazing stories from other colleagues DJ’s. I am really excited to play at the biggest Asian dance festival with great artists as Avicii and Armin van Buuren.

How do you stay competitive with these world famous DJ’s?

We have different styles. I like hip-hop and electronic music and that’s what I try to pass through. I try to mix and cross over into various different musical styles.

With your style you created your own brand and club in Amsterdam; do you still play at your ‘Dirty Dutch Club’ in Amsterdam?

Yes, our club has evolved the past years, from 6,000 to 30,000 visitors. The yearly Dirty Dutch end of year’s event where I play in Amsterdam RAI is already sold out. Even though I have a busy schedule and travel around the world, I am always there at the ‘Dirty Dutch ‘event.

And another album came out?

‘Who is ready to jump’ is the album called, selling very well!  I just heard one of the songs was in the top 10 in I-tunes.

More and more of these big dance events are coming up in Asia, what do you think of the electronic / dance scene in Asia?

It’s great to see how Asia’s got has developed and to see how it has its own huge electronic music scene. It’s very different from the rest of the world, but I love it. People seem to enjoy our music. Clubs and events are very well organised.

What do you think of the future of Asia in this industry?

I think Asia will raise a lot of great super-producers. You can see the scene growing at this moment. Asians are very creative – the Asian electronic music scene will get bigger and bigger, and I’m happy to witness this with my own eyes.

You grew up in Suriname, worked in The Hague, developed your own brand, have one of the biggest club in Amsterdam and are now a BBC Radio 1 DJ. Where do you see yourself in the future? 

I see myself supporting a lot of new talent in the future. I use my Dirty Dutch platform to do that. At the moment I’m trying to help guys like GLOWINTHEDARK, BetatraXx and Gregori Klosman. I want to give people the same chances I got when I first started.

Any advice you can dispense to set up your own brand and be successful?

It is like music. Try to be original, innovative and find a signature that makes you different from the rest. Talent and creativity will always be recognised. It’s just a matter of time…

The strong Singdollar and a 5.7 per cent rise in the average price of goods and services are behind Singapore’s rise up the league table, according to the latest Cost of Living Survey by ECA International.

Japanese cities took the top four places followed by Seoul.

Globally, Singapore has catapulted to 31st spot from 42 a year ago, while Japan, largely owing to the strong yen, retains its grip on the top spot as the world’s most costly location.

Reminder letters from the Government will be sent from Dec 7 onwards to those who have not signed up. Those aged 45 and above who qualify will also receive their Central Provident Fund (CPF) Medisave Top-up upon signing up.

Singaporeans may sign up either online at the Grow & Share website (www.growandshare.gov.sg) or by completing the Grow & Share form available at any Community Centre, Community Development Council or CPF Service Centre.

More than 2.4 million Singaporeans received $1.5 billion in growth dividends end October. During the same time, 1.3 million Singaporeans also received $500 million in CPF Medisave Top-ups.

Source: StraitsTimes

The world’s average download speed is 9.43 megabits per second (Mbps); in Lithuania, the country with the world’s fastest download speed, that figure is 31.52 Mbps. To put that into further perspective, the EU’s average download speed is 12.99 Mbps while the U.S. has a speed of 12.12 Mbps. But let’s get more specific, Net Index also lists the cities with the fastest download speeds, gathering information from millions of consumers across the world regarding their Internet connections. Cities have to have at least 75,000 unique IP addresses to qualify for the sampling. We’ve listed the top European metropolises here and ranked them based on their download speeds. So, where’s the fastest?

#20 Krasnoyarsk, Russia

#19 Plovdiv, Bulgaria

#18 Kharkov, Ukraine

#17 Paris, France

#16 Rotterdam, Netherlands

#15 Cluj-Napoca, Romania

#14 Helsinki, Finland

#13 Amsterdam, Netherlands

#12 Den Haag, Netherlands

#11 Timisoara, Romania

#10 Stockholm, Sweden

#9 Tallinn, Estonia

#8 Hamburg, Germany

#7 Bucharest, Romania

#6 Constanta, Romania

#5 Riga, Latvia

#4 Iasi, Romania

#3 Sofia, Bulgaria

#2 Kaunas, Lithuania

#1 Vilnius, Lithuania

Source: Business Insider

These will form part of a ‘full-fledged professional Workplace Advisory Service targeted at Singapore’s 648,000 PMEs when they become our union members’, said labour MP Patrick Tay after the launch of a book for PMEs on Wednesday.

He told The Straits Times that some of the issues they face include being sent abroad to work and their position when the company they work for is merged with or acquired by another corporation.

Mr Tay, who is NTUC’s director of legal services and in charge of the division that looks after white-collar workers, also said the labour movement is mulling over ways to be attractive to PMEs.

Source: http://www.straitstimes.com

This is mainly because of poor performance in the non-oil trade, but has been mitigated by oil exports, which expanded by 54 per cent in the last quarter.

Similarly, forecasts for the year’s non-oil domestic exports (NODX), has also been downgraded from 6 to 7 per cent, to 2 to 3 per cent. This follows a shocking fall of 16.2 per cent in exports last month, over the same month last year. The drop was due to a sharp decline in the electronics sector.

The uncertain global economy, and continued weakness in the euro zone, slow growth from the US and a moderation in the growth of Asian economies will also be factors that may affect the growth of trade. For 2012, total trade growth is expected to moderate to between 3 and 5 per cent, and NODX is expected to grow at 3 to 5 per cent.

Source: www.straitstimes.com

These and other innovations reflect the increasing pace of technological change and groundbreaking work in the region, as well as the growth of “incubators” and incentives that cities such as Singapore have offered start-ups, particularly in the fields of science and technology.

“In a way, the West doesn’t have to prove itself,” said Magdeline Pokar, one of the judges and managing director for ResearchSEA, a research-news service focused on Asia. On the other hand, Asia “always looked perhaps to the West for how things should be done. But increasingly I would say there is a lot of confidence. It’s a big industry that’s growing within the region.”

Within Asia, the work varies widely, she said. “If you sent someone from the U.K. to Japan, they’re always astounded by the level of technology,” while the work coming out of an emerging economy, such as Vietnam, tends to be “applied innovation” focused on efficiency or reusability, she said. “You can see the immediate usage of it.”

One of the biggest problems Asian entrepreneurs and researchers face is funding. “It’s quite hard, still, to just go out and set up your own company and sell things or do things,” Ms. Pokar said. “There’s not a lot of (venture capital) money out there.”

For entrepreneurs in medical-related fields, navigating the bureaucracy of regulatory approvals is another challenge, and several finalists cited it as an issue. Other finalists noted the long processes as a last major hurdle to their product reaching consumers.

Adlens Ltd., which developed the Gold-prize-winning adjustable eyeglasses, called Emergensee, distributed them to victims of the March earthquake in Japan, said Yoshinobu Nakashima, the company’s Japan president. “The product itself is born for this kind of situation.”

Soon it plans to release a new product called p.o.v. According to Adlens’s global chairman, Dean Butler, the p.o.v. glasses contain liquid-filled adjustable lenses and cover the wearer’s entire field of vision, while Emergensee is most effective when looking straight ahead or slightly to the side.

Such modifications are crucial to innovative work. “Even the best ideas need to be iterated as real-world kinks emerge,” said Adam Smith, director of product management in Asia Pacific for Google Inc., and the head judge for the Asian Innovation Awards.

“Experimentation and failure also play a role in developing products that are unexpected, useful and entirely new,” he said.

Data on research-and-development spending is often correlated in success in innovation, but there is much more that goes into cultivating ideas and seeing them through to a finished product. For small businesses in particular, data on R&D spending is hard to come by, partly because different countries track it differently.

The judging panel selected the winners from 12 finalists, which came from more than 250 entries from China, Singapore, Taiwan, Malaysia, Hong Kong and elsewhere in the region.

In Singapore, the government’s Agency for Science, Technology and Research oversees 14 research institutes. One of them, the Institute of Bioengineering and Nanotechnology, won the Silver award for its MicroKit. The portable system for quick diagnosis can be deployed during outbreaks to keep them from becoming pandemics.

IBN Executive Director Jackie Ying said the device has gone through different stages, and her team is working on a series of disease-detection products. “We hope that by having early (and affordable) diagnosis we can really benefit a big part of Asia including developing countries,” she said. “The goal is to be able to look at complex diseases like cancer.”

In collaboration with a spinoff company, SG Molecular Diagnostics, IBN plans to launch a device in the coming year that can test for at least 20 different bacteria simultaneously and handle multiple samples at the same time. Ms. Ying said her team is also working on kits for food testing.

This year’s Bronze-prize winner, developed by the Chinese University of Hong Kong and Ximplar Ltd., turns everyday consumer electronics into hearing-enhancement devices. ACEHearing, which stands for Automated Customized Enhanced Hearing, will be applied first to smartphones, either as a downloadable app or as pre-installed firmware, said Andrew Van Hasselt, one of the principal developers and chair of the ear, nose and throat department at CUHK.

“Most people just try to make do and compensate for hearing loss,” Paul Lee, a director at Ximplar, said. “What they’re not aware of is they will eventually lose economic opportunities and self-confidence.” Messrs. Van Hasselt and Lee said consumers can expect to use the technology in early 2012. They see ACEHearing being incorporated into tablets, desktop and laptop PCs and MP3 players, so that users’ hearing profiles could roam with them wherever they go.

The Technopreneur award, which goes to the entry that best applies technology with the greatest potential for commercial success, went to Toshiba Corp.’s glasses-free 3-D TVs.

The Japanese tech giant said it plans to launch a larger model of the TV in Europe and Japan toward the end of this year. Seijiro Yasuki, general manager of design and development, said that the team working on the original 20-inch version developed the product in a short time period.

In addition, he said, glasses-free devices aren’t restricted to TVs. “It is already applied to other products such as the PC,” and potentially medical devices.

Credit Suisse sponsors the AIA awards and organized Thursday night’s gala event that honors the winners. The jury was selected by Wall Street Journal staff and coverage of the event and its winners is the sole responsibility of the Journal’s news department.

Source: The Wall Street Journal 

South-east Asian leaders meet on Thursday for annual talks where they will grapple with the South China Sea territorial dispute and review signs of a flowering of reform in Myanmar.

With the euro zone lurching through a debt crisis, raising the spectre of the region’s export markets drying up, there will also be pressure on the 10-member bloc to speed the integration of its potentially huge common market.

The Association of Southeast Asian Nations (Asean) leaders’ talks will move into Saturday’s East Asia Summit of 16 nations plus new members the United States and Russia.

President Barack Obama’s presence on the Indonesian resort island of Bali, which is hosting the back-to-back summits, comes as Washington rolls out a diplomatic campaign to assert itself as a Pacific power.

Source: http://www.straitstimes.com

The Singapore National Employers Federation sent out an official letter to inform you as a member about the upcoming  Re-employment law and to offer you our assistance so that you can get your company ready for the new law on time.

Dear Members

With this letter I would like to remind you of the upcoming Re-employment law and to offer you our assistance so that you can get your company ready for the new law on time.

The Retirement and Re-employment Act will be effective in less than three months from now on the 1st January 2012.

The objective of the law and guidelines is to enable employers to retain workers after 62 and up to 65 in a sustainable manner. Whilst the law lays out clearly the employers’ obligations , the  Tripartite Guidelines provide for ways in which employers may adapt its employment terms so that most employees can and will be retained beyond 62. Re-employment as compared to a straight raise of the retirement age provides us employers with the necessary flexibility, whereas we know from other countries that an increase of retirement age is very rigid.  

Teams from SNEF and/or NTUC would be happy to work with you to prepare your company for the re-employment law in the following ways:

1. Provide consultation and advice to align your existing re-employment policies with the Tripartite Guidelines
2. Assist you with funding through the ADVANTAGE! Scheme for job/work process/workplace redesign and WSQ HR re-employment training  

The Workgroup on Employability of Older Workers has been reaching out to employers to prepare them for the upcoming legislation. To date we have engaged directly 900 companies and assisted them to align their re-employment policies with the Law and the Tripartite Guidelines on Re-employment of Older Employees. Please feel free to ask any question and to seek our help. It is important for Tripartite relations to get re-employment started smoothly. 

Please feel free to contact Mr Lee Yew Cheong, Senior Manager at SNEF at Tel (DID): 68276939 or email: yclee@snef.org.sg on how we may assist.

For more information on re-employment and to download a copy of the Tripartite Guidelines on re-employment of older employees, please visit the re-employment website at www.re-employment.sg.

Yours sincerely,

Alexander Melchers

Vice President, SNEF and Singaporean-German Chamber of Commerce & Industry (SGC)

And Chairman

Tripartite Implementation Workgroup on Employability of Older Workers

ABN AMRO Private Banking was last night highly commended in the ‘Best Private Bank in Europe’ category of the Global Private Banking Awards 2011 organised by The Banker and Professional Wealth Management magazines, part of the Financial Times Group.

The awards evaluate private banks for their ability to deliver trusted advice, due diligence and risk management, as well as design efficient asset allocation strategies and bespoke portfolio solutions. Award winners must also be able to demonstrate their ability to attract and retain client assets.

A distinguished judging panel included senior representatives from Scorpio Partnership, Lenz & Staehlin, Fox Partnership, PricewaterhouseCoopers, AITE Group, Create Research and MilleniumAssociates. Yuri Bender, Editor in Chief of Professional Wealth Management, said: “ABN AMRO Private Banking’s performance in the last year shows that it is a rising force once more. The judges were impressed by the bank’s asset growth relative to its peer group, pan-European ambition and clear strategic plan. The bank was also praised for its high conviction and cross-border investment ideas, hedge fund capabilities and socially responsible investment tools.”

Jeroen Rijpkema, Chief Executive Officer of ABN AMRO Private Banking, said: “This award is first and foremost a tribute to the long term relationship we have with so many private banking clients across Europe and to the ongoing commitment of our staff. ABN AMRO Private Banking comprises some of the oldest and most trusted private banking brands in Europe and is committed to strengthening its top 3 position in the Eurozone, as well as accelerating its growth in Asia.”

ABN AMRO Private Banking is the international wealth management division of ABN AMRO Bank with EUR164 billion of assets under management, offering over 120,000 high net worth individuals a full range of banking, investment management, financial and estate planning products and solutions.

It operates in 12 countries worldwide employing over 4,000 professionals and includes the respected private banks ABN AMRO MeesPierson in the Netherlands, Bethmann Bank in Germany and Neuflize OBC in France. ABN AMRO Private Banking has one of the largest research and strategy teams of any private bank, with 40 analysts covering all major asset classes based in Amsterdam, Geneva, Zurich, Frankfurt, Paris, Singapore and Hong Kong.

Source:  www.abnamro.com and www.privatebankingawards.com/

ABN AMRO announces the opening of new offices in selected key locations for clients of the bank’s Energy, Commodities & Transportation (ECT) business. Today, a new office in Dallas will be opened and the bank also intends to reopen ECT focused offices in Moscow and Shanghai in the coming year. In addition, current banking activities for these sectors will be expanded in Sao Paulo.

In the last 18 months ECT has re-established its local presence in several countries to enhance client coverage. ECT is headquartered in Amsterdam and is now supported by a network of 10 international offices in Athens, Dallas, Dubai, Hong Kong, London, New York, Oslo, Rotterdam, Sao Paulo and Singapore. ABN AMRO’s overall international network spans 23 countries and territories.

Gerrit Zalm, Chairman of ABN AMRO, said: “Our dual international strategy is to support the activities of Dutch clients around the world, while also building the global client franchises of our ECT, Private Banking and Clearing businesses.  ABN AMRO has a long heritage and strong competitive positions in ECT, which will be strengthened by re-establishing our presence in selected key locations for clients, as well as by leveraging our combined expertise across these three leading global businesses.”

Harris Antoniou, CEO of ECT at ABN AMRO, said: “Our sector approach combines physical proximity to clients, alongside involvement in every part of the commodity value chain from extraction to distribution. Deep sector knowledge and product expertise enable us to service clients across the financing spectrum. The ECT business has supported world trade over many centuries and today it gives us exposure to global demand for commodities, as well as economic growth throughout developing markets.”

ABN AMRO has recruited a highly regarded energy banking team from UBS Investment Bank for the new office in Dallas, which will focus on building the bank’s US and international reserve-based lending, as well as oil and gas secured financing.

ECT offers standard and structured banking services to global clients in sectors such as commodity and trade finance, shipping, oil and gas. These include asset-backed and working capital facilities; structured commodity and pre-export finance; letters of credit, collections, guarantees and counterparty risk financing; cash management and electronic banking.

The bank is seeking to grow its merchant banking relationships with ECT clients, to complement its strength in lending. It continues to build its principal finance activities and is developing its foreign exchange and rates risk management offering, as well as commodity brokerage and clearing services.

ABN AMRO’s historic involvement in ECT industries dates back to 1720 and the development of international trade and shipping by Netherlands based finance houses that formed MeesPierson, the Rotterdam based bank which rejoined ABN AMRO in July 2010.

Source:  www.abnamro.com

2011 set a record for regulatory reforms that boost business conditions, among emerging-market and developing economies in particular, the annual ‘Doing Business’ survey of 183 countries found.

After Singapore, rounding out the top five and unchanged from 2010 were, in order, Hong Kong, New Zealand, the United States and Denmark. Among the major emerging economies, China was middle-ranked at 91st, ahead of Russia (120th), Brazil (126th) and India (132nd).

For the report, the World Bank gathered information on changes in legal frameworks, administrative procedures and technical obstacles in launching or expanding a business.

Source: www.straitstimes.com

Source: http://www.damen.com.sg ]]> http://www.dutchcham.sg/in-memoriam-of-pieter-d-h-kalis/feed 0 http://www.dutchcham.sg/executive-director-change-at-the-dutch-chamber-of-commerce-s http://www.dutchcham.sg/executive-director-change-at-the-dutch-chamber-of-commerce-s#comments Sat, 01 Oct 2011 23:00:27 +0000 admin http://www.dutchcham.sg/?p=2494 After two very busy and extremely successful years, our Executive Director, Richard Canneman will leave the DutchCham to devote his...
read more...]]> After two very busy and extremely successful years, our Executive Director, Richard Canneman will leave the DutchCham to devote his time to his IT company. During his tenure; membership grew from 63 to 132 members, readership of the DutchCham website and monthly newsletter exceeded our wildest expectation with more then a thousand subscriptions and a loyal following of those interested in the DutchCham and other business and cultural issues relating to The Netherlands, expat rumors and local info published on a regular basis. On behalf of the Board of Directors, our Founding Members and corporate and private members we thank Richards for his tireless pursuit of our goals and targets!

We are happy to announce that Houda Helal will become Richard’s successor as Executive Director as of October 1st. Houda, a graduate of the Rotterdam
Business school, joins us from a varied working background that includes working for the Dutch Protocol Bureau, The International Criminal Court
in The Hague, l’Oreal and recently The EuroCham in Singapore where she was responsible for Marketing and Events.

Houda can be reached at the DutchCham e-mail address: houda.helal@dutchcham.sg

Exemption for foreign sourced permanent establishment generated income. Under the proposed legislation all foreign sourced permanent establishment generated income (either profits or losses) will be excluded from the Dutch head office taxable base.
The 30% allowance rule will be amended. Currently foreign employees with specific skills under certain conditions can benefit from the 30% allowance scheme under which 30% of their income would be tax exempt for Dutch income tax purposes. Previously, if all the other conditions are met, Dutch nationals could benefit from this allowance when returning to the Netherlands after having spent more than 10 years overseas. Under the new 30% allowance scheme Dutch nationals would only qualify if they have resided/worked overseas for more than 25 years. Transitional rules apply.

Anti-abuse provisions for dividend withholding tax for distributions by Dutch cooperations. Currently distributions from a Dutch cooperation are not subject to Dutch dividend withholding tax. Under the proposed legislation dividend withholding tax will be due if the cooperation is solely interposed to avoid Dutch dividend withholding tax.

For more information: www.voskamplawyers.com

Source: Voskamp Lawyers

Singaporean workers are underwhelmed by their managers‟ leadership which lacks inspiration and motivation, according to the Randstad World of Work Report 2011/2012.

The report found that more than half of employees (53%) see a manager‟s ability to motivate and inspire others as the single most important attribute of a successful leader, yet 51% rate their direct manager‟s ability in this area as poor or average.

Randstad Regional Director, Singapore & Malaysia, Ms Karin Clarke, says the Singapore findings highlight a divide between what is expected of leaders and what is being delivered.

“With continued economic uncertainty in Europe and the United States, companies know they must deliver their growth plans. Yet they are hindered by the challenge of finding talented leaders that can achieve sustainable, long-term results,” says Ms Clarke.

This year’s Randstad World of Work Report includes findings from a survey of 1350 people (including 400 business leaders) in Singapore. The research is part of Randstad‟s annual Asia Pacific study of 8200 people that gathers perceptions of employees and employers to better understand the human capital challenges existing today.
The report found that three-fifths (59%) of employers say developing leadership skills for the next phase of growth was their biggest productivity challenge.

“To bridge the leadership gap, organisations must be committed to building a culture that fosters leadership. This includes promoting continuous learning and creating an atmosphere where engaged and talented people aspire to leadership roles,” Ms Clarke says.

This year’s report also found when it comes to trust, a large majority of employer respondents (80%) trust their organisation’s leaders, while over a third (37%) of employees don’t.

Ms Clarke says this suggests trust may be more readily fostered among middle managers who are likely to be involved in strategic planning and have direct contact with senior leaders.

“The good news is that more employees rate recognition (34%) and having a strong understanding of how their role contributes to achieving organisational goals (21%) more highly than salary and remuneration (15%).”

In the next 12 months, 57% of employers surveyed will offer leadership and career development, and 55% will offer general training and development to retain employees.

Ms Clark says to truly overcome these challenges, business leaders need to adopt comprehensive attraction, engagement and retention strategies, informed by industry trends and research.

“To remain competitive and lead in ever-changing market conditions, employers need to strike a balance – they need to get it right with the employers they have, while attracting talent for the next phase of growth.”

Other key findings of the research include:

• Top employer concerns were attracting talent for the next phase of growth (28%), retaining top talent (16%); and managing wage pressure and salary concerns (13%). Yet 56% of those surveyed rate their organisation‟s ability to meet these challenges as average or poor, 41% as good, and just 3% as excellent.
• Employees are demanding higher wages, not only as a reward for their performance but also to keep pace with higher inflation and increased living costs. Over the next 12 months, 18% of respondents expect a salary rise of up to 4%, 36% a 5 to 10% rise and 39% more than a 10% rise.
• 75% say that filling critical vacancies created by employee turnover or business expansion is the biggest productivity challenge for the next 12 months.
• 48% of employees rate their organisation‟s ability to attract top talent as good, with only a handful (7%) rating their ability as excellent.
• 56% of employers say they have ideas that could improve productivity but 53% believe their organisation doesn‟t have an effective process to capture ideas for business improvement or innovation.

Visit www.randstad.com.sg for further information.

On Tuesday 20 September from 14:30-17:00 a graduation ceremony will be held for the Bachelor of Maritime Operations, and Bachelor of Business Administration specializing in Transportation Management, a cooperation between Maritime Institute Willem Barentsz (Terschelling) of the Netherlands and Singapore Maritime Academy.

DutchCham board member and head of the Maritime Transportation & Logistics Committee Rob Mars will be guest of honour and deliver a graduation address.

This year 25 students will graduate in the 2 Bachelor programmes. The intake for the new study year is 18 students, and they are

already at the Netherlands campus to start their Stage B today (12 Sept). 　They will be back in Dec 2011 and will begin their internship from Jan 03, 2012. It would be great if some of the students could have their internship with a Dutch maritime company.

The full time study encompasses about 18 months at the Singapore Maritime Academy and MIWB Terschelling, and includes a traineeship and completing a thesis. The program is in place since 2006 with growing enrollment numbers; the graduates are well appreciated and have been able to quickly launch their careers in Maritime, Transportation and Logistics companies in Singapore.

For more information, or reservation of a place at the Graduation Ceremony please contact Pauline Koong by email PAULINE.KOONG@SP.EDU.SG or at Singapore Polytechnic, Singapore Maritime Academy, 500, Dover Road, Singapore 139651

Tel: 68706173

Fax: 67721958

The cost of living across Asia continues to accelerate, with inflation in Hong Kong at a 16-year high.

In Singapore, the inflation rate is going up, when forecasters said it would come down.

Meanwhile in China, inflation is running at a 3-year high.

ADB said while containing inflation should remain an economic priority, central banks generally have it under control.

Douglas Brooks, assistant chief economist, Asian Development Bank, said: “We are optimistic in what we have been seeing from the central banks, that they do happen to have inflation firmly in their targets and they are addressing it.”

That may mean fewer interest rate increases as the economic slowdown works to temper inflation and lower oil prices.

Wellian Wiranto, an economist at HSBC, said: “We keep on getting headlines about global growth concerns. And global growth concerns would feel more acute at this point. It’s hard to picture oil prices from picking up too much.”

Oil prices have fallen some 15 percent from around US$100 a barrel just a month ago.

ADB said inflation will continue to rise in developing Asia and food inflation, not oil, is the bigger concern.

Source: ChannelAsia.com

More information 

The 10-member grouping has a vision to create an ASEAN Community comprising the pillars of political security, economy, and socio-cultural values by 2015.

ASEAN senior officials met on Monday to lay the groundwork before the 44th ASEAN Ministerial Meeting, which opens on Tuesday in the resort island of Bali.

One of the agenda items is to review ASEAN’s efforts so far in realising a single community. It seems progress has not been fast enough.

ASEAN has just four years left, and time is not on its side.

ASEAN secretary-general Surin Pitsuwan, said: “The implementation has to be faster…I have been trying to encourage every member state that we do not stop at the ratification of the agreements, we will have to go down to the actual implementation. So, in the end…how do you translate what has been agreed at the regional level, down to the national implementation.”

Dr Surin said he wants to do more to put pressure on member states to speed up ASEAN’s integration process.

During the meetings, ASEAN foreign ministers are also expected to touch on security issues in the region. These include the border spat between Thailand and Cambodia, as well as disputes in the South China Sea.

Parts of the South China Sea contain some of the busiest shipping lanes in the world and are believed to be rich in oil and gas. They are being claimed by Brunei, China, Malaysia, the Philippines, Taiwan and Vietnam.

Dr Surin said: “There is also a sense of urgency that we need to send out the right signals…to the world that ASEAN and China can manage our differences, because this issue has been an issue of high anxiety, not only for us in the region, in East Asia, but also in the global community.”

The meeting of ASEAN foreign ministers is expected to bring the regional grouping and China a step closer to finalising a Code of Conduct in the South China Sea.

In Bali, ASEAN foreign ministers will also be meeting their dialogue partners, as well as take part in the East Asia Summit (EAS), and the ASEAN Regional Forum (ARF)

Source: ChannelNewsAsia

Programme Partners for the Singapore challenge are: Royal Boskalis Westminster, Singapore-Delft Water Alliance, PUB Singapore, National University of Singapore, Royal Netherlands Embassy in Singapore and Deltares.

Planning
1. Official launch of the challenge on the 6th of July by Ambassador Johannes W.G. Jansing (during SIWW)
2. Campus promotions: August-September 2011
3. Deadline registrations: 15 October 2011
4. Deadline proposals: 15 December 2011
5. Grand Final in Singapore: January/February 2012 (to be announced)

Do I need to pay to participate?
No, participation is free. Also, when you are invited for the semi-final presentations or the Grand Final, we will cover all your travel and accommodation expenses.

What is the award I can win?
The overall winner of the Challenge will be awarded with the Singapore-Netherlands Sustainability Award, which consists of an extensive internship or research project in Singapore and/or the Netherlands. In addition, individual business case winners will be awarded by the Programme Partners.

How to participate?
Click here to read everything about the registration process.

More information
For any additional questions, please email to waterchallenge@foreigntalent.nl (in Dutch, English or Mandarin).

For more information: http://www.hollandwaterchallenge.nl/

Minister for the Environment and Water Resources Dr Vivian Balakrishnan opened the Centre on Wednesday, the first of its kind in Asia.

The Aquatic Science Centre will be studying in-depth issues – such as whether there is a soil and plant type that can affect the quality of rainwater and what types of sediments best clean rainwater – with scientists, sociologists and even policy makers working together.

The aim is to be able to develop sustainable solutions for urban freshwater management.

Water quality tests – even from the nearby Ulu Sungei Canal – are an integral part of the work.

The 34-metre long bioflume with an adjustable wall is Asia’s first such experiment facility. Its barricade can be expanded up to five metres wide, depending on what experiments researches want to conduct. The facility also allows for the speed of water to be adjusted and plants to grow, so as to find out what types of plants can help mitigate floods while cleaning stormwater.

Costing S$6.4 million, the centre is a joint initiative among the National University of Singapore, national water agency PUB and Dutch company Deltares.

Dr Balakrishnan said: “This is work being done, not only between countries, not only between universities, and private sectors, but also across the different fields of engineering, biology, chemistry, and medicine, and public health. ”

He added: “New investments by water companies over the past five years will double the industry’s share of GDP to Singapore to S$1.25 billion, and create additional jobs.”

The centre is also open to the public from 8:30am to 6pm on weekdays.

Source: ChannelAsia

Prime Minister Lee Hsien Loong gave this assessment when he was tapped for advice he could give to other countries, at a Singapore International Water Week dialogue yesterday.

Saying that he hesitated to give advice because every city’s problems are different, he added: ‘But I think the most important thing may not be the water itself but the ability of the city to administer effective water policy.’ Only with effective governance in place, PM Lee noted, will governments be able to clean up slums, connect houses to sewers, charge for water supply and punish water theft.

In Singapore’s case, he said the country had planned its water strategy over many years, built reservoirs and catchment areas, studied desalination and dreamt of turning Marina Bay into a reservoir.

When new technology became cheap enough to turn salt water into fresh water and remove pollutants from the river affordably, the city-state invested in it, he told the 1,500-strong audience, including water ministers and leaders, at the Suntec Singapore International Convention and Exhibition Centre.

Source: SIWW 2011

Figures released today during a press briefing organised by the Delegation of the European Union to Singapore, also show that:

• The EU was Singapore’s largest supplier of goods in 2010 with a share of 12.3% of Singapore’s total imports.
• The EU is the most significant source of Foreign Direct Investment (FDI) in Singapore.
• The EU’s FDI stock amounted to S$173 billion in 2009 (latest available figure), representing 30% of all the accumulated FDI.
• The EU has also a considerable business presence in Singapore with more than 8,500 European companies, supported by the European National Business Groups.
• The EU is the ASEAN’s second overall trading partner and ASEAN’s largest foreign investor. Considering ASEAN as a single trading entity would make it the 5 th largest trading partner of the EU, representing 5.2 % share of the EU’s total external trade.

Singapore is by far the largest trading and investment partner of the EU among the ASEAN countries.

Background The EU Delegation to Singapore annually gathers data and statistics on trade and investment between Singapore and the EU, where it takes a “health check” on trade relations between the two. The strong trade ties the EU has with Singapore are of particular significance in the current period of financial and economic recovery. The ongoing Free Trade Agreement (FTA) negotiations between the EU and Singapore, launched in March 2010, are a proof of the importance both parties attach to further deepening their economic relations.

The EU is the world’s largest economy with 28% of the world’s GDP and 501 million consumers.

The EU is the world’s largest trading block, the world’s largest investor, and the world’s prime investment destination. Further it has a single market, a single tariff and a single set of rules.

For more information please contact: Luenne Choa, Press Officer, Delegation of the European Union to Singapore
Tel: +65 6336 7919 / Mob: +65 9694 9110
Email: luenne.choa@eeas.europa.eu

In running one of the most popular Wine Lounge/Diners in Singapore the biggest complaint on busy nights is always “There’s not a chair left to sit on ?”
So they decided to Open another outlet on the East Coast at Katong Village.

Wine BOS Katong has exactly the same concept and items available as Wine BOS Klapa. This then includes Bitter Ballen of course.
A couple of extras however are the ease of parking and a single Hall capable of seating over 100 guests.
It is therefore ideal for Corporate parties and Dinner & Dances and as always over 150 different wine labels are available.

Their policy of buying 2 bottles and getting one free continuous to be a very popular attraction, especially since the bottles you may not finish at dinner
Can be taken home or kept at Wine BOS for 2-4 weeks to be consumed upon your return.
Owner Charles Stephan mentioned that it was about time the East Side obtained a relaxing wine lounge for everyone there to be able to Chill and not spent the Earth on one bottle of wine. Most wines are priced between $30 to $60 and with the buy2 get 1 free promotion it really does become an excellent deal.

Wine BOS Katong will also continue to show the football and other sporting events as well as have their favourite promotions such as $9 steaks on weekends and half price Pork Knuckles.
It has started it’s soft opening to test the kitchen and operational equipment. And will be ready to go by July 1.

Wine Bos @ Katong Village
86 East Coast Rd
Katong Village
Tel.: 634 88 098

With 45 offices located throughout the region, the company plans to invest and grow its Asia Pacific business over the next three to five years.
The regional headquarters in Singapore will bring Randstad closer to its clients and candidates, facilitating the company‟s growth in Asia Pacific at a time when growing demand for skilled labour is rapidly increasing.
Randstad Managing Director, Asia Pacific, Ms Deb Loveridge said, “All indicators tell us that now is the right time for Randstad to develop a regional hub in Singapore. We believe Asia‟s labour markets will continue to grow as the region‟s economies expand and develop.
“The gradual economic shift east, towards the Asia Pacific, has resulted in many international companies, like Randstad, stepping up investment and placing greater strategic importance on the region, especially as regional GDP and consumer demand growth rates outperform those in other regions. The increased international focus on the region will intensify the competition among employers to attract and retain the best talent.
“Strategic human resources management can help overcome some of the biggest human capital challenges facing these economies today, including critical skills shortages, leadership gaps and an increasingly mobile workforce. Serving this growing demand in Asia is a key plank in Randstad‟s strategy to grow in the region,” she said.
Mr Kelvin Wong, Executive Director for Professional Services at the Singapore Economic Development Board (EDB) said EDB welcomes Randstad‟s decision to make Singapore its regional headquarters.
“Randstad‟s decision to set up its Asia Pacific headquarters here is a strong vote of confidence in Singapore. It will help strengthen Singapore‟s position as a home for talent, where companies can leverage on Singapore as a centre of expertise to attract, develop and retain talent for the Asia Pacific region.”
Randstad has 20 years of experience in the Asia Pacific, with an established network of strong local partnerships, history of best practice and commitment to HR knowledge development in Singapore and the region.Ms Loveridge said Singapore was a strategic choice for the development of its regional headquarters.
“Singapore is a leading global business centre with a strong and established international and local business community. The city-state is also widely recognised for its business-friendly regulation, its stable and secure environment, and high standards of living.
“This, coupled with its close geographic proximity to important markets like China and India, make it the ideal home-base for our business in the Asia Pacific,” Ms Loveridge said.
About RandstadRandstad is a Fortune 500 Company and one of the world‟s largest recruitment & HR services providers, with Asia Pacific operations in Singapore, Malaysia, Hong Kong, China, Australia and New Zealand. Specialising in temporary, contract and permanent staffing across the widest range of specialist industry sectors and professions, the Randstad Group employs almost 675,000 people every day with the aim of „Shaping the world of work‟.

Visit www.randstad.com.sg for further information.

If you would like to exhibit and be part of the European Pavilion, please contact EuroCham at +65 6836 6681 or email : matteo.vezzosi@eurocham.org.sg

1) a business network (for you to connect to other businesses)
2) a platform (for you to showcase your area of expertise).

The DutchCham will provide value to its members partially through the committees. We are in the process of setting up a media committee, focusing on digital interactive media, and would like to know if and how we could provide you with value through the DutchCham.

As such we ask you to fill out underlying questionnaire that we’ll use to determine our focus for the media committee.

The survey consists of merely 5 questions, taking less then a minute of your time.

Thank you very much in advance and take the survey

Dates and Fees

27 June to 1 July 2011
Fee: SGD 7,480 (exc. GST)

For Dutch Cham Members only : 15% discount applies on attendance fee if registration occurs by 6 June 2011.

For Enquiries, please contact Rachel Ma at 6516 8342 or bizmsstt@nus.edu.sg

Automotives: 11:30-12:30 – Wednesday, 8 June
Pharmaceuticals: 16:00-17:00 – Wednesday, 8 June
Legal services: 17:00-18:00 – Wednesday, 8 June
ICT: 17:00-18:00 – Thursday, 9 June

Kindly confirm attendance to Ms. Tuyet Doan (tuyet.doan@eurocham.org.sg).

Please note; The photo gallery below might take up to 60 seconds to load due to the amount of pictures.

12 May Launch of DAIS – Dutch Artists in Singapore –  between 18h00 and 21h00.

Going Dutch Furniture Group Pte Ltd
474- 476 River Valley Road
Singapore 248359

Blue World Carbon (BWC), the fast growing international company in the field of carbon credit development, trading and advisory services, announces the launch of a new Singapore based regional headquarters to facilitate its planned rapid expansion in the Southeast Asian markets. The new office will have a head start due to the recent joining into BWC of the Caspervandertak Southeast Asia team, based out of Singapore.

The team’s move into BWC will ensure a rapid start for BWC’s regional operations, as it provides for immediate in-house experience and a vast network, along which BWC plans to rapidly expand its foothold and project pipeline in the Asian carbon markets. Target areas are CDM projects and programmes (PoA’s) in the Renewables, Energy Efficiency and Methane Avoidance sectors in markets like Indonesia, Vietnam, Thailand and the Philippines.

BWC is headquartered in Belgium (Brussels) with offices in Russia, Ukraine, South Africa and Singapore, with further planned expansion into Southeast Asia. Its global team of professionals offers comprehensive carbon solutions to clients in the renewable energy and energy efficiency sectors in both the CDM and JI market.

Together with Climate Change Global Services (CCGS), the leading carbon development company in the Former Soviet Union (FSU), BWC is majority owned by the Russian-Dutch private equity firm 4RCap. 4RCap has a strong background in the energy sector; the activities today range from operating oil assets, wind turbine manufacturing, solar film, sector media & intelligence, to one of the world’s largest greenhouse complexes for flower production.

BWC’s global coverage and vast expertise will provide its clients with optimized solutions, allowing them to take full advantage of opportunities created by the current Kyoto Protocol’s CDM, as well as any post-2012 CDM/ Carbon Trading successor.

For further information please visit the website:
www.blueworldcarbon.com

Lee also assured that the government would work hard on its own with “a population of passive but engaging Singaporeans in the more difficult decisions and trade-offs which governing Singapore involves”.

Foreign Minister George Yeo along with cabinet minister Lim Hwee Hua and senior Minister of State Zailnul Abidin Rasheed, a sitting member of parliament Cynthia Phua and newcomer Ong Ye Kung lost the Aljunied GRC by a margin of 9.4 per cent to WP. WP leader Low led party chairman Sylvia Lim, and first timers Muhamad Faisal Abdul Manap, corporate lawyer Chen Show Mao, and postgraduate law student Pritam Singh in defeating PAP for the first time in the GRC, a unique grouping parliamentarians in electing minority representation from the pre-dominantly Chinese population in Singapore.

Overall, PAP received 60.14 per cent of the total votes from the 2.05 million voters and WP took 12.82 per cent.

The rest of the votes were taken by the other contesting parties – National Solidarity Party which took 12.04 per cent, Reform Party 4.28 per cent, Singapore Democratic Alliance 2.8 per cent, Singapore Democratic Party 4.83 per cent, Singapore People’s Party 3.1 per cent.

A total of 2.057 million or 93.06 per cent of the 2.21 million Singaporeans voted yesterday.

The PAP, in power since 1959 under the stewardship of Lee Kuan Yew, held 82 of the 84 seats in the last parliament elected in 2006, with vote support of 67 per cent. Singapore, rated among the world’s top commerce, trade and financial centers, is projected to post an economic growth of between four per cent and six per cent this year, a follow on to last year’s 14.5 per cent, having rebounded strongly from the global economic meltdown of mid-2008 and 2009. Singapore got independence in 1965 from Great Britain.

Source: http://ibnlive.in.com/generalnewsfeed/news/singapores-ruling-party-sweeps-elections/676832.html

Queen’s Day is a national holiday in the Netherlands and the kingdom’s other constituent countries, Aruba, Curaçao and Sint Maarten, on the 30th April (or on the 29th if the 30th is a Sunday). Queen’s Day celebrates the birthday of the Queen of the Netherlands and is supposed to be a day of national unity and “togetherness” (Dutch: saamhorigheid). The tradition started on 31 August 1885, on the birthday of Princess Wilhelmina, later Queen Wilhelmina. Since 1949, after the accession of Queen Juliana, Queen’s Day is Queen Juliana’s birthday on 30 April. Although Queen Beatrix’s birthday is on 31 January, she officially celebrates her birthday on 30 April.

Queen’s Day is known for its “freemarket” (Dutch: vrijmarkt) all over the country, where everybody is allowed to sell things in the streets. Other activities during Queen’s Day are children’s games, individual musical performances, and music concerts. The night before Queen’s Day is celebrated too in most cities, and this is called Queen’s Night (Dutch: Koninginnenacht). The largest celebration of Queen’s Day is in Amsterdam, Queen’s Night in The Hague and Queen’s Dance (Dutch: Koninginnedans) in Rotterdam. During the celebrations as reference to the colours of the House of Orange-Nassau, people dress in the colour orange, which is sometimes called “orange craze” (Dutch: oranjegekte).

Voskamplawyers family law department covers a wide range of subjects with a focus on the cross-border aspects. Such as:

• Drawing up of cohabitation contracts in an international context
• Advising on pre-nuptial agreements
• Divorce related advice in connection with children, housing accommodation, establishment of partner and child alimony, pension settlement, partition of property
• Estate planning to facilitate tax efficient transfer to future generations

VoskampLawyers is a boutique law firm with offices in Singapore and Amsterdam. The firm was founded in 2009 with founding partners from PwC and Loyens & Loeff.

Since August 2010 VoskampLawyers is the largest Dutch law firm in the South East Asian region.

For more information: www.voskamplawyers.com

From 13 May to 16 June the exhibition will be open to the public.

This is a first collaboration by the artists, who also conceptualised and founded the platform. Hailing from diverse artistic fields are: Frances Alleblas (drawing), Marcel Heijnen (photography), Caroline Mars (painting), Gonneke Verschoor (ceramics) and Monica Winnubst (sculpture/installation). The exhibition will showcase the artists’ fine art works in Going Dutch’s stunning showroom of design furniture from leading Dutch brands. The multi-disciplined works proved to be a unique challenge for the curator, Sandra Heijnen, owner of visual concepts and design outfit, Palette, and will surely delight any art connoisseur or appreciator.

The DAiS founders and artists first met in November 2010 to discuss the opportunity to strengthen their presence in the arts in Singapore. Thinking further, the artists realised that as a recognised group, it would be more effective for them – and other artists – to engage in the arts business and reach out to wider audiences here in Singapore and internationally.

As a collaborative platform, DAiS aims to support and involve its members through meetings, exhibitions and business networks to meet its objectives. Membership is open to any visual artist and art professional from the Netherlands based in Singapore. DAiS also plans to engage with other artist groups and organisations in Singapore as well as abroad for cultural and professional exchange.

For information, preview and interview requests, please contact:
Gonneke Verschoor +65 96287423 or Frances Alleblas +65 93588187

Email: mail@dutchartists.sg
website: www.dutchartists.sg

Exhibition
DAiS @ Going Dutch from 13 May to 16 June 2011
Tue-Sat 10.30am-7pm, Sun 11am-6pm

Opening exhibition
Date: Thursday 12 May 2011
Time: 6 to 9pm
Venue: Going Dutch – Showroom
474-476 River Valley Road, Singapore
Ilse Bergmans +65 90276612
website: www.goingdutch-group.biz
RSVP before 5 May 2011: mail@dutchartists.com

Paving the way for more technologically advanced container terminals in Singapore, the Maritime and Port Authority of Singapore (MPA) and PSA Corporation Limited (PSA) jointly launched the Port Technology Research and Development Programme today through a Memorandum of Understanding (MOU).

The MOU was signed by MPA Chief Executive Mr Lam Yi Young and Mr Tan Puay Hin, Regional CEO Southeast Asia, PSA International. The signing was witnessed by Permanent Secretary, Ministry of Transport, Mr Choi Shing Kwok, who was the Guest-of-Honour at the opening ceremony of the International Maritime-Port Technology and Development Conference 2011, which was held in conjunction with the 6th Singapore Maritime Week. Joining Mr Choi to witness the signing were Mr Lucien Wong, Chairman of MPA and Mr Fock Siew Wah, Group Chairman of PSA International.

The five-year Port Technology Research and Development Programme will focus on three broad areas, namely automated container port systems, advanced container port optimisation techniques and technologies, and green port technologies. The Programme will see MPA, PSA, equipment and technology providers, local institutes of higher learning and other companies coming together to develop advanced port technologies for Singapore’s container terminals.

MPA will fund the Programme with up to S$10 million over five years from the Maritime Innovation and Technology Fund (MINT Fund). PSA, together with local institutes of higher learning and other industry partners will provide co-funding and in-kind resources of up to S$10 million over the same period.

A key project that would be undertaken by PSA under the new MOU is the development of Automated Guided Vehicles (or AGVs) for future container terminals to reduce manpower and improve port productivity. PSA will also seek and adapt new technologies to develop more intelligent systems that will streamline port planning processes and operations. These seek to further raise the value-add of employees and overall productivity.

“For the world’s busiest transhipment hub, technology is vital in ensuring that its terminal customers are served seamlessly, efficiently and effectively round the clock. Through this Programme, MPA hopes that Singapore will continue to be at the forefront of technology in port operations and services adding to its development and growth as an international maritime centre,” said Mr Lam.

Said Mr Tan, “This MOU Programme will create new opportunities for collaboration with MPA and our industry partners to jointly develop more innovative port management solutions and tools. PSA is fully committed to propel itself to reach higher levels of productivity and effectiveness to serve our customers.”

Part of Encore! (The European Season in Singapore), the EUFF aims to foster closer cultural exchange between Europe and Singapore, and will also feature several short films from NTU’s School of Art, Design and Media

The festival will also play the Dutch movie: ‘Oorlogswinter‘

The Dutch Embassy gives each Dutch Organization 5×2 tickets to ballot amongst their members.

If you would like to take up this opportunity to go to the opening of the festival on the 5th of May please contact Ms. Marta Fiocco.

Carrying business cards and loaded with sixty seconds elevator pitches 22 DutchCham members attended the first DutchNet breakfast.

Each participant met 21 other valuable decision makers and professionals.  We encouraged each to pass referrals that actually turn into business while drinking morning coffee and enjoying a full breakfast whilst still in time for your daily routine.

Next DutchNet breakfast is on the 24th of May 2011, click here to register

Hosted at Suntec Singapore the 3rd Annual General Meeting showed an overview on the accounts and events of 2010 presented by Chairman Mr. Pieter Idenburg.
The Dutch Chamber of Commerce again as a healthy company aspires, set ambitious goals for 2011; increasing their membership base, strategic partnerships and events for the coming year. Most notable was that the chamber after its free membership drive doubled its memberships from 66 to an account of 148. Also was told to the attending members the plans up until 2012 and the progress so far.

Also an update was given on the four currently populated committees of DutchCham in 2010: Water, Energy, Media and Biomed as well as the plans to initiate another 3 committees before the end of 2011 in the following areas: Maritime, Transport & Logistics, Nutrition and Design.

After the 45 minutes presentation and 15 minutes Q&A members were able to network and mingle with food and drinks provided by our accommodation sponsor: Suntec Singapore

Professor van Lieshout is currently chairman of the project: “How will we earn our living twenty years from now?” This report focuses on the question how prosperity can be assured in the Netherlands in the future.

Economic policy in the recent period has been largely generic, focused on creating favorable conditions for businesses and investors, supplemented with specific policies for key sectors of the economy. Questions are again being asked about how adequate these policy instruments are in a changing world. This in turn raises the question how the Netherlands views its economy, which instruments it wishes to use for its economic policy, and how much policy space remains in a world where the global and regional interdependence between countries are increasing. The project group will seek inspiration from neighboring countries such as France, the UK and Norway as well as from more distant examples in countries such as Singapore, South Korea, Malaysia, Brazil and Chile.

In Singapore, the Professor met government officials, business people and academics to discuss these issues. The Embassy of the Kingdom of the Netherlands organized the programme and accompanied the Professor during his meetings.

More information about the project can be found via this link: http://www.wrr.nl/english/content.jsp?objectid=5596

All members are invited to attend this meeting. Apart from the presentation of the 2010 accounts during this meeting DutchCham shall present the new strategy and business model for 2011-2012.

Those members who (i) wish to stand for election as a member of the General Committee or (ii) wish to add any other items to the Agenda are requested to notify the undersigned in writing at the latest by Monday 4th of April 2011.

Please RSVP

We are very much looking forward welcoming you.

The event will bring together CEOs and top management of some of the innovative and forward thinking companies from Singapore and Netherlands along with key opinion leaders in the sustainable technology sector to deliberate on the key challenges and opportunities arising out of the global push for sustainability.

Due to late cancellations we have 2 seats left: Free of Charge (first come, first serve basis)

For more information please send an email to Richard Canneman (richard.canneman@dutchcham.sg)

The Tsunami waves caused major destruction in northern Japan. Trains have been shut down across the country and current estimates are 1000+ people have died. You can help with your donation.

Ammado.com Dutch Chamber of Commerce (S) member has setup up a platform for the Japan Earthquake and Pacific Tsunami Relief.

Your gift to the American Red Cross will support disaster relief efforts to help those affected by the earthquake in Japan and tsunami throughout the Pacific. On those rare occasions when donations exceed American Red Cross expenses for a specific disaster, contributions are used to prepare for and serve victims of other disasters.




General tax changes for businesses
20% corporate tax rebate, capped at SGD 10,000. Qualifying small and medium sized enterprises (SMEs) will receive for the Year of Assessment (YA) 2011, the higher of the 20% rebate or a cash grant amounting to 5% of the company’s revenue, capped at SGD 5,000. To qualify for the cash grant SMEs must have made CPF contributions in YA 2011.

The Productivity and Innovation Credit (PIC) has been increased to an enhanced tax deduction of 400% of qualifying expenditure incurred. This is subject to a cap of SGD 400,000 for each activity (up from respectively 250% and a cap of SGD 300,000 in 2010). Furthermore, qualifying expenditure in the periods YA 2011-2012 and YA 2013-2015 can be combined for increased flexibility in planning of investments. The PIC covers six areas: R&D; Approved design; Acquisition of IP; Registration of IP; Purchase/Lease of Automation Equipment; and Training of employees.

Per 1 January 2011 a foreign tax credit (FTC) pooling system will be introduced which can reduce tax payable for companies remitting foreign income to Singapore from foreign jurisdictions. Under certain conditions, FTC can then be computed on a pooled basis for each particular stream of foreign income (FI) remitted into Singapore, instead of computed per source.

GST zero-rating measures are introduced or expanded for the marine, biomedical and logistics sectors, will be effective from 1 October 2011.

The stamp duty relief rules on the conversion of an existing firm (an ordinary partnership) to an LLP are now extended to cover the conversion of an existing company to an LLP, subject to meeting qualifying conditions.

Key tax changes for businesses in financial sector
Effective from 1 April 2011, interest and other qualifying payments made by banks and other approved or licensed financial institutions to non-resident persons (excluding permanent establishments in Singapore) for the purpose of their trade or business will be exempted from withholding tax.

The tax exemption schemes for Captive Insurers, Specialised Insurers and Marine Hull and Liability Insurers will be extended.

Key tax change for businesses in maritime sector
With effect from 1 June 2011, the Maritime Sector Incentive (MSI) will be introduced to streamline and enhance existing maritime tax incentives. There are three categories under the new MSI, international shipping operations, maritime (ship or container) leasing and supporting shipping services. In addition to the existing arrangement of tax exemptions on qualifying income or concessionary tax rates, a new benefit includes the eligibility to, subject to conditions, automatic withholding tax exemption for interest payments on foreign loans for the construction or purchase of ships.

Personal tax changes for individuals
A one-off personal income tax rebate of 20% that is capped at SGD 2,000 will be granted to all residents for YA 2011.

The marginal income tax rates for the first SGD120,000 of chargeable income has been reduced. All Singapore resident taxpayers will pay less income tax, it is expected that the largest (percentage) tax savings will be made by middle-income earners.

Miscellaneous
The employer CPF contribution rate will be raised per September 2011 by 0.5 percentage points, bringing the total CPF contribution rate to 36%. Moreover, the CPF salary ceiling will be increased from $4,500 to $5,000 per month starting September 2011.

Under the Global Trader Programme (GTP) an approved GTP company is granted a concessionary tax rate of 5% or 10% on its income from qualified trades in a specified list of derivative instruments. From YA 2012, the GTP will be expanded to include all derivative instruments, including for example interest rate swaps and foreign exchange derivatives.

The tax incentive scheme for Trustee companies, under which Trustee companies can enjoy a concessionary tax rate of 10% on qualifying activities, will be enhanced. The provision of trustee and custodian services in respect of the issue of units of foreign Collective Investment Schemes and foreign Business Trusts will be included in the list of qualifying activities with effect from 1 April 2011.

Under the Finance and Treasury Centre Incentive (FTC) a company can enjoy a concessionary tax rate of 10% on income derived from undertaking qualifying activities and providing qualifying services to approved Local Network Companies (LNCs). The total annual revenue of the Singapore LNCs must not exceed 10% of the Group’s annual total revenue globally. This 10% of total revenue requirement will now exclude related party transactions.

To reduce compliance costs stamp duties on most of fixed duty and nominal duty documents are removed.

Source: Voskamp Lawyers: www.voskamplawyers.com

Mr Lim said this in Parliament during the debate on the estimates for the Ministry of Trade and Industry (MTI). He said at the economy level, Singapore must move towards higher value-added industries. This is part of the ongoing restructuring of the economy, shifting from low value-added activities to higher value-added activities and growing new clusters.

At the sectoral level, Mr Lim said the nation must move up the value chain within existing industries.

The ministry will work with companies that have made headway in their productivity efforts and these companies will serve as productivity champions and help demonstrate the value of productivity improvements to the rest of the sector. Mr Lim said Trade Associations and Chambers also have a key role to play as champions for productivity. The ministry will continue to engage them through the Local Enterprise and Association Development (LEAD) programme, which offers sectoral-based, customized assistance that target unique industry needs.

At the firm level, the government has enhanced the Productivity and Innovation Credit to further encourage companies to invest in activities that foster productivity and innovation. It is also reaching out to companies, including smaller firms, to ensure they get the message.

Finally, at the at the individual level, Mr Lim said it is important that workers continue to upgrade themselves, and take advantage of the many avenues in the Continuing Education and Training system to do so.

Source: Channelasia.com

He is now Professor of Governance, Institutions and Internationalization at the Erasmus University Rotterdam, a Partner at professional services firm Ernst & Young and invited to Singapore by the Lee Kuan Yew School of Public Policy to talk about the relationship between Europe and Asia.

During his visit in March he would like to take the opportunity to meet the Dutch community in Singapore for a Q & A session and drinks at the Hollandse Club on March 30st.

This events is open for all members of the Dutch Chamber of Commerce & ADB|

More information and registration

The ministry said changes in the foreign worker levies, which will be increased in phases from January 2012 to July 2013 at six monthly intervals, will have the greatest impact on the construction and services sectors. It said the impact on the manufacturing, marine and process sectors will be more moderate. There are nearly 1.1 million foreigners employed in Singapore as at end-2010.

Out of the 871,000 work permit holders employed in Singapore, 248,000 are in the construction industry.

Andrew Khng, president of the Singapore Contractors Association, said: “Like it or not, the construction industry has always been the biggest consumer of foreign workers. The reason is because there aren’t any local construction workers, so we have to depend on the foreign workers…

“We try to maintain or contain the foreign workers dependence, but sometimes in a good construction growth like the last few years … it is quite difficult not to rely on good construction workers.”

Announcing details of the changes, which were first revealed by Finance Minister Tharman Shanmugaratnam in his Budget Statement last Friday, MOM said employers in the construction sector would need to fork out on average S$320 more per work permit holder between now and July 2013.

The current levy is in the region of S$160 to S$310. By July 2013, the levies for this sector will range from S$300 to S$600, depending on the number of skilled and unskilled workers.

The next big consumer of foreign workers is the services sector. Its present levy structure of S$170 to S$450 will go up to between S$300 and S$600.

Service sector employers can expect an average rise of S$260 per work permit holder.

In comparison, the levy increase for the manufacturing sector will be moderate. From the current S$170 to S$450 levy, it will rise to a range of S$250 to S$550 by July 2013.

Employers in the manufacturing sector can expect an average increase of S$130 in the levy for each work permit holder between now and July 2013.

Employers of S Pass holders can expect an average increase of S$240 in the monthly levy between now and 2013. The current levy of between S$110 to S$150 will go up to S$300 to S$450 in two years time.

In his budget speech in Parliament last week, Finance Minister Tharman emphasised that the increase in foreign worker levies was not merely a cyclical response to current conditions. He said it is a direction for the long term which the government is taking.

The government also wants to provide a clear and strong incentive for businesses to improve and upgrade their operations, train their workers and also rely less on low-skilled workers.

MOM said the changes are a strong signal to businesses to invest in productivity changes.

However, smaller companies in the construction industry will find this a big challenge.

Mohd Abdul Akbar, the managing director of Nan Guan Construction, said: “I think for the very small companies, the SMEs – especially the smaller ones, when you talk about productivity, it’s something that’s difficult to implement.

“When you talk about manufacturing, maybe it’s possible through automation, improvements in processes and things like that.”

Contractors said the impact of the levy hikes would be wide-ranging.

Mr Andrew Khng said: “We have been absorbing some of these cost increases throughout last year – the materials price have gone upwards.

“But this time, it is difficult even to absorb the levy increase because the levy increase is really substantial during this period. As a contractor, we are always sandwiched in between and sometimes costs need to be gradually spread through the whole value chain.”

- CNA/cc/al

The Book is published by the Embassy and sponsored by Dutch companies. It is distributed to everyone registered in the Orange Book.

If you want to register for the Orange Book, or change your registered data, please inform the Embassy before 1 March.

For a new registration please fill out the registration form on the website of the Embassy .

Alterations and registration forms can be send to sin@minbuza.nl.

The goal of the economic fact finding mission is to explore trade and investments opportunities in Cambodia, to expand the economic network of the Dutch business community with the Cambodian government and to facilitate contacts between Dutch business and Cambodian entrepreneurs and authorities.

More information on this event

The Singapore Tourism Board (STB) said this is a 49 per cent increase from 2009, exceeding previous forecasts of between S$17.5-18.5 billion. STB said the high growth in tourism dollars is due to higher spending per person, and more international visitors due to positive economic sentiment and the opening of the two Integrated Resorts.

Sightseeing and entertainment accounted for a fifth of the tourism receipts, some S$4 billion and a 1,800 per cent jump from 2009. For the first time, spending and gambling at the two Integrated Resorts was also included into this component.

However, the STB was quick to add that growth was seen across the sector. Aw Kah Peng, Chief Executive of STB, said: “The two Integrated Resorts were highlights, but we saw growth across every part of the tourism sector. Spending in F&B grew, spending at the hotels grew, spending at various sightseeing and attractions grew.”

Singapore welcomed 11.9 million overseas visitors last year, led by growth in the top five markets – Indonesia, China, Australia, Malaysia and India. This figure fell within STB’s forecast of 11.5 to 12.5 million visitors for 2011. Hotel revenue also saw a jump of 21.8 per cent to reach S$1.9 billion. With average room rates of S$212 a night, the Singapore Tourism Board said a challenge for the industry is to raise service standards, and ensure that customers get value for their money.

One segment which did not do well however, was the cruise industry. Passenger numbers declined 11 percent, largely due to two gaming ships ceasing operations.

Ms Aw said: “Some of the cruises that were primarily focused on gaming decided that it wasn’t worth their while to do those cruises anymore. “I think as new entrants come into the market, existing ones will then have to relook at what they are offering, and whether they would reshape their business. Do something else, or introduce new products.”

While it declined to give projections for 2011, STB expects tourism to continue growing this year, driven by the opening of new attractions in the Integrated Resorts.

However, growth in the sector is not expected to match the pace set last year, which was described as “exceptional”.

Source: ChannelNewsAsia

Chinese New Year is the longest and most important festivity in the Chinese Lunisolar Calendar. The origin of Chinese New Year is itself centuries old and gains significance because of several myths and traditions. Ancient Chinese New Year is a reflection on how the people behaved and what they believed in the most.

Chinese New Year is celebrated in countries and territories with significant Chinese populations, such as Mainland China, Hong Kong,Indonesia, Macau, Malaysia, Philippines, Singapore, Taiwan, Thailand, Vietnam, and also in Chinatowns elsewhere. Chinese New Year is considered a major holiday for the Chinese and has had influence on the new year celebrations of its geographic neighbors, as well as cultures with whom the Chinese have had extensive interaction. These include Koreans (Seollal), Tibetans and Bhutanese (Losar), Mongolians (Tsagaan Sar), Vietnamese (Tết), and the Japanese before 1873 (Oshogatsu).

In countries such as Australia, Canada and the United States, although Chinese New Year is not an official holiday, many ethnic Chinese hold large celebrations and Australia Post, Canada Post, and the US Postal Service issue New Year’s themed stamps.

Within China, regional customs and traditions concerning the celebration of the Chinese new year vary widely. People will pour out their money to buy presents, decoration, material, food, and clothing. It is also the tradition that every family thoroughly cleans the house to sweep away any ill-fortune in hopes to make way for good incoming luck. Windows and doors will be decorated with red colour paper-cuts and couplets with popular themes of “happiness”, “wealth”, and “longevity”. On the Eve of Chinese New Year, supper is a feast with families. Food will include such items as pigs, ducks, chicken and sweet delicacies. The family will end the night with firecrackers. Early the next morning, children will greet their parents by wishing them a healthy and happy new year, and receive money in red paper envelopes. The Chinese New Year tradition is a great way to reconcile; forgetting all grudges, and sincerely wish peace and happiness for everyone.

Although the Chinese calendar traditionally does not use continuously numbered years, outside China its years are often numbered from the reign of the Yellow Emperor, Huangdi. But at least three different years numbered 1 are now used by various scholars, making the year 2011 “Chinese Year” 4709, 4708, or 4648.

More information: http://en.wikipedia.org/wiki/Chinese_New_Year

These areas emerged as core business strategies for companies in Singapore in the SBF’s latest National Business Survey. Some 80 per cent of the more than 1,000 companies surveyed by the SBF said they were optimistic about Singapore’s economic growth.

About 69 per cent said they expect their businesses to be profitable this year. More importantly, 51 per cent said they have plans to make new investments this year, with the majority focusing their investments on expanding overseas.

SBF said it wants to help these companies achieve their expansion plans, even if it means changing their mindsets. Singapore Business Federation acting chief executive officer Victor Tay said: “Previously, I think Singapore companies go overseas (insisting) on a ‘Singapore way’ of doing things. But Mr Tay added that he is seeing more companies adapting to local culture, to globalise.
Despite these positive prospects, companies are still facing challenges pertaining to high labour costs and job hopping.

Singapore International Chamber of Commerce chief executive Phillip Overmyer said: “We’re seeing people shopping for jobs and moving around within industries and across industries. “So that makes it difficult especially in industries that really require significant skills”.

SBF also plans to engage in more Free Trade Agreement outreach programmes to familiarise companies with the benefits of Singapore’s 18 FTAs.

Dutch-born Zijderveld, 46, joined Unilever in 1986 and is currently in charge of South East Asia and Australasia. Zimbabwe-born Baillie, 55, will replace Sandy Ogg, who moved to Blackstone (BX.N) earlier this month, and has headed Western Europe since 2008. Both appointments start on Feb. 1.

Zijderveld joins Unilever’s executive committee as one of three regional chiefs along with the head of the Americas David Lewis and head of Asia, Africa and Central and Eastern Europe Harish Manwani, who all report to Chief Executive Paul Polman.

Everybody at the Dutch Chamber of Commerce congratulates Mr. Zijderveld on his promotion and new challenge, thanking him very much for his support towards the Dutch Chamber of Commerce in Singapore.

The Association of Dutch Businesspeople,
Dutch Chamber of Commerce (S),
the Embassy of the Kingdom of the Netherlands,
the Hollandse Club,
the Hollandse School and
the Netherlands Charity Association.

are very pleased to inform you of the upcoming events:

Wednesday 20 April
Queen’s Night at Harry’s @ Boat Quay
14th edition of this traditional event in Singapore sponsored by Heineken
Location: Harry’s @ Boat Quay

Saturday 23 April
Orange Ball hosted by the Hollandse Club
With a performance of the winner of Dutch Idols!
Location: Hollandse Club

Thursday 28 April
Queen’s Day Reception hosted by the Embassy of the Kingdom of the Netherlands
This year the Embassy will host one reception for the Dutch community, the Corps Diplomatique and Singaporean officials. All Dutch people in Singapore are welcome!
Location: The Concourse, Suntec Singapore

Friday 29 April
Queen’s Day celebration at the Hollandse School
Celebration of Queen’s Day for the children at the Hollandse School and their parents.
Location: Hollandse School

Saturday 30 April
‘Vrijmarkt’ (flea market)
Children are invited to join and sell their second-hand items!
Location: Hollandse Club

More information will be available closer to the event days. We will keep you informed through our websites, newsletters and magazines.

Making the announcement on Wednesday, Minister for Communications, Information and the Arts, Lui Tuck Yew, said this growing popularity of social media cannot be ignored. He said government agencies may even experiment with new ways to tap on the collective wisdom and resources of netizens in the search for answers. These he said were some of the possible scenarios envisioned under the new e-Government Masterplan that will take place over the next five years.

Mr Lui said the new masterplan will facilitate, and enable a major shift from a “Gov-to-You” mindset to a “Gov-with-You” mindset. He said it is hoped that this move can fuel innovation and encourage co-creation with the people. He added that details of the plan will be announced later this year. Mr Lui said: “In this new “Gov-with-You” approach, the public sector ought to embrace a collaborative culture where it accepts that some services can be more effectively developed and delivered in partnership with the private and people sectors.”

In the same vein, it cannot happen without active participation from the citizens and businesses.
Mr Lui was speaking at a forum to discuss how the government can improve citizen engagement and services.|

Source: http://www.channelnewsasia.com/stories/singaporelocalnews/view/1105630/1/.html

From Friday, the holding period for imposition of Seller’s Stamp Duty (SSD) will be raised to four years from the current three. The SSD rates would also be raised while the Loan-To-Value (LTV) limit would be lowered to 50 per cent on housing loans for property buyers who are not individuals. The LTV limit would also be lowered to 60 per cent for individual property buyers with one or more outstanding housing loans. The government said its objective is to ensure a stable and sustainable property market where prices move in line with economic fundamentals. Analysts said they believe the measures could further curb speculation in the market.

Research Consultancy SLP International executive director Nicholas Mak said: “This is going to basically drive another nail into the coffin of anybody who has thoughts of short-term investments — in other words speculation in the property market.

“This is quite a drastic measure to try to drive out short-term investors because by raising the Seller’s Stamp Duty to a very punitive rate of eight per cent and above basically creams off all the profits that a short-term investor hopes to gain”.

Chesterton Suntec International head of research and consultancy Colin Tan said he was surprised at the timing of the new measures. “I think everyone recognises that the liquidity problem is a global one and that the measures are meant to inject some sanity at certain points in time,” he said. “I think everybody (had) never expected them to last very long but apparently it’s so strong that they feel that maybe quite soon, after August 30, they need to act again. “The message sent here is pretty strong. I think for a while the market should cool down.”

Previous measures have, to some extent, moderated the market, but sentiments remain buoyant. It said low interest rates plus excessive liquidity in the financial system, both in Singapore and globally, could cause prices to rise beyond sustainable levels based on economic fundamentals. Moreover, when interest rates eventually rise, it could strain purchasers who have overextended themselves financially. Therefore, the government said it has decided to introduce additional targeted measures to cool the property market and encourage greater financial prudence among property purchasers.
It said there’s an ample supply of private residential units, and buyers need not rush to buy now.

It added it would continue to ensure an adequate supply of housing to meet demand. The government also said it would continue to monitor the property market closely and take further steps to promote a stable and sustainable property market if necessary.

Source: ChannelAsia

About 26 per cent of the Netherlands is below sea level and its flood mitigation measures, both from rivers and the sea, are widely considered the most advanced in the world.
Advertisement: Story continues below Leading Dutch news website nu.nl reported that the country’s Prime Minister, Mark Rutte, had made the offer to Ms Gillard, but was told it was not required at present. However, Dutch foreign affairs minister Uri Rosenthal would continue to liaise with his Australian counterpart, Kevin Rudd, over possible assistance in the future, the website reported. Mr Rudd said there was “no sort of false pride” in not taking help from outside the country. “It’s just rational,” he told Sky News last night.

“If we experience a major capability gap – I know what the army guys are like, I know what the SES guys are like, they’ll be the first one to put up their hand saying, we don’t have this kit – and we need it from them. “Because the worst thing you can do is to have, you know, 50 countries arrive from the world – dump a whole lot of stuff here – and then you’ve got to suddenly absorb and deploy it.

“So our guys, the army, SES, they’re a bunch of troopers. People in the sky… they have it as well under control as you can.” Mr Rudd said the world response to the disaster had been “phenomenal”.

“Solidarity from those guys is terrific, they’re making contributions to the Premier’s appeal here to help out families,” he told Channel Seven news last night. “But that’s symptomatic of what you get right across the world, Europe, Africa, Asia, the Americas, Indonesians, the New Zealanders, this has captured the world’s imagination. “I think the world’s used to us going out to help people, they’re not used to us being in a position where we need help. That’s why they have made such generous offers, and our emergency services people and the military are working their way through what if any of that kit and equipment could be useful in the future.”

Last week the US and Singapore both offered assistance, with the South-East Asian city-state offering helicopters based at Oakey, west of Brisbane, as well as soldiers. New Zealand has also sent disaster management experts to Queensland, while NSW and Victoria have sent SES volunteers to help in the rescue efforts. The WA government yesterday pledged $1 million to the disaster relief fund. It has also offered Fire and Emergency Services Authority staff, and overnight four urban search-and-rescue specialists left for Queensland.

“While we’re fighting our own problems (floods in Carnarvon and a bushfire south of Perth) I don’t think you could possibly compare that to what we’re seeing coming out of Queensland,” Acting Premier Kim Hames said.

The state government has also set up a $3 million fund to help Carnarvon horticulturists replace topsoil stripped away by the floods there.

The federal government has also upped its assistance package by $10,000, to $25,000, for those affected. The lesser amount was initially approved because that was what the state government applied for, but it asked for $25,000 after being made aware that it could.

Carnarvon is WA’s major source of fruit and vegetables.

According to regulatory body the Infocomm Development Authority (IDA), there was an all-time high net addition of 458,000 3G subscribers in the latest quarter, exceeding the previous record of 451,000 in June 2010. Due a highly competitive and mature industry, we believe operators will continue to offer more value-added services (VAS) to entice subscribers to sign-up. BMI forecasts 7.357mn mobile and 4.683mn 3G subscribers by end-2010, before increasing to 8.057mn and 6.945mn respectively in 2015.

M1 has entered Singapore’s pay-TV industry, challenging the well-established players StarHub and SingTel. SingTel has only started to erode StarHub’s dominance in the sector after it secured the broadcast rights to show Barclays Premier League football matches for the 2010-2013 period. Although M1′s 1box service is only available as a value-added service that delivers content such as movies, music and games via the operator’s broadband network and appears lightweight when compared to the extensive entertainment portfolio offered by SingTel and StarHub, we believe the venture into Singapore’s pay-TV industry will enable M1 to offer exclusive content contracts once they expire, such as the highly-lucrative and sought after Barclays Premier League. Singapore’s Media Development Authority (MDA) announced in March 2010 that pay-TV retailers will have to cross-carry content that each has acquired exclusively. This measure removes the need for multiple set top boxes and enables consumers to watch any exclusive channel through just one pay-TV provider.

Meanwhile, Alcatel-Lucent reported that positive results have been achieved in its ongoing Long-Term Evolution (LTE) trials with SingTel in November 2010. The LTE trials were intended to increase SingTel’s understanding of the next-generation technology and help the company decide how LTE could best be implemented to suit the disparate operating environments across the group’s Asian operations. However, we think that LTE is unlikely to be widely implemented in Singapore, as the 700/800MHz band was allocated for terrestrial broadcast services and the planned analogue TV switch-off – which will free up spectrum for use by wireless services – is unlikely to happen before 2015. Similarly, the 2.3GHz and 2.5GHz bands were allocated for the provision of wireless broadband access in 2005, but the spectrum rights will not expire until June 2015.

Singapore has risen to second position in BMI’s latest Business Environment Ratings for Asia-Pacific due to an improvement in the country’s Industry Rewards score and the lack of change in South Korea’s individual scores. Singapore remained among the strongest scorers in the region’s Country Rewards, Industry Risks and Country Risk variables, but its small population, which represents limited growth potential, is preventing Singapore from closing the gap to regional leader Japan.

For more information or to purchase this report, go to:
- http://www.fastmr.com/prod/106522_singapore_telecommunications_report_q1_2011.aspx

Good Governance for International Business index focuses on the relationship between governance and business and investment across Asia Pacific by evaluating and ranking 18 countries according to six criteria: Rule of Law, Openness to International Trade & Business, Taxation, Corruption, Public Sector Quality & Effectiveness, and Fiscal & Monetary Administration.
This index is produced by Vriens & Partners, a political risk consultancy focused on Asia.

“The Good Governance for International Business index provides a timely and useful resource for business leaders and governments alike. International business is increasingly interested in emerging economies across Asia, and there has been a clear effort by governments to improve governance for international business in order to attract investment. This index sheds light on this dynamic and diverse region”, said Hans Vriens, Managing Partner of the firm.

V&P’s Good Governance for International Business index is based on the expert assessment of V&P Senior Counselors working across Asia Pacific, data gathered from a survey of business and investment leaders across the region, and from international sources including the World Economic Forum’s Global Competitiveness Report, the World Bank’s Doing Business and Worldwide Governance Indicators, the Heritage Foundation’s Index of Economic Freedom and Transparency International’s Corruption Perceptions Index.

There are five clear groupings in the overall rankings. Ranging from 81.3 to 93.1, the four best economies consistently score in the top four across all variables with the notable exception of taxation, on which New Zealand and Australia score relatively weak.

In the second grouping, ranging from 64.6 to 70.5, are Japan, Taiwan, Malaysia, and South Korea. Malaysia joins that group of advanced economies with a strong score for taxation (3rd in Asia Pacific), but scores poorly on fiscal & monetary administration (12th). Openness to international trade & business is also lackluster (8th), but Malaysia has taken encouraging steps to liberalize the economy in the last couple of years. This was reflected in our survey of business leaders across the region, who reported that they perceived openness to international trade & business to be
improving in Malaysia. Nonetheless, the country has struggled with internal political reforms, and faced an 81% plunge in FDI year-on-year in 2009.

In the third grouping, China and Thailand score 54.5 and 56.4 respectively, having scored neither exceptionally high nor exceptionally low on any of the pillars. While scoring well on openness to international trade & business (7th), Thailand scores relatively weak on rule of law (11th), taxation (11th) and fiscal & monetary administration (13th). Indeed, business leaders surveyed by Vriens & Partners cited Thailand’s openness to international trade & business as one of the top reasons for investing in the country, while others cited weak rule of law as one of the top reasons against investing there.

The fourth group of economies is found in the range of 43.3 – 47.9, led by India and Indonesia, and includes Sri Lanka, Vietnam and the Philippines. Indonesia, while also scoring weakly on public sector quality & effectiveness (14th), scores relatively well on taxation (8th), fiscal & monetary administration (9th) and openness to international trade & business (11th). Business leaders perceive that Indonesia is on the up-swing in terms of good governance for international business, but the country still needs to address weak rule of law (15th).

Although Vietnam has made a lot of progress in transitioning to a market economy in the past decade, it scores weakly across all six pillars of the index. Particularly weak is the country’s openness to international trade & business (16th) – due in large part to a high prevalence of trade barriers – and fiscal & monetary administration (16th) due to unbalanced government budgets. The upcoming Eleventh National Congress of the Communist Party of Vietnam in the first half of January 2011 is unlikely to lead to any major changes in the country’s governance for international business, but reform may slow down in the short term should there be a conservative shift in the top leadership.

The final member of this fourth group – the Philippines – provides an example of a country that has fallen short of good governance for international business. The Philippines scores low across all of the pillars, particularly on taxation (16th), corruption (15th), rule of law (14th), and public sector quality & effectiveness (13th). FDI into the Philippines is lagging FDI into Vietnam, and the country has been surpassed by Thailand and Indonesia in terms of GDP per capita. However, President Benigno Aquino III, recently elected with a strong mandate for reform, has the opportunity to begin seriously addressing good governance for international business in order to strengthen investor confidence.

At the bottom of the index, ranging from 34.0 to 40.0, are the very low income countries of Timor-Leste, Cambodia, and Bangladesh. These three under-developed countries score weakly across most pillars with the exception of taxation, where all three provide relatively favorable rates (4th, 6th, and 13th respectively) – a factor far easier to provide than rule of law or public sector quality & effectiveness.

We would like to convey our appreciation to Mr. Standertskjold for his work at the Delegation in the last years here in Singapore.

The groundbreaking marked the first major project in the West Camp of SAP, and the new 80m free span hangar is expected to be ready in early 2012. Built by local property development firm Sharikat National, the facility will accommodate three regional aircraft or two large narrow-body aircraft.

Since its establishment in 1997 at Seletar Airport, FSA has built a reputation as a high-quality, flexible and reliable heavy maintenance aircraft MRO serving the Fokker and ATR customer base in the region. With the new facility, FSA will add heavy maintenance capabilities, and it anticipates doubling the volume of work through the hangar over the next five years.

Source: EDB – http://www.edb.gov.sg/

Financial Literacy is key to financial security today and for the future. Educators must answer the call to impart financial to their students so that they will be equipped with a set of skills and values essential for the rest of their lives. Therefore the National Institution of Education (NIE) developed a financial literacy program for teachers. Citi-NIE Financial Literacy Hub for teachers offers training programs that empower teachers with basic money management principles. Figlo supports this by placing Figlo Financial software at their disposal. Marco Hoekstra, Vice President Figlo Asia Pacific demonstrated the Figlo solution to 70 teachers during the training event in M Hotel in Singapore last week. Figlo believes that they can contribute to a better financial understanding with their intuitive and easy to use financial software.
Financial Literacy entails the ability to make informed judgments and to take effective decisions regarding the use and management of money. The Ministry of Education (MOE) Singapore recognizes the need to equip students with the knowledge and skills to manage their personal finances from an early age. Figlo’s business objective to make personal finances insightful and predictable for every citizen in the world flawlessly connects with the objective of the MOE Singapore.

Press information not for publishing
For more information please contact:

Mr. marco Hoekstra
Vice President Figlo Asia Pacific
M +65 8499 1136 E marco@figlo.com
I www.figlo.com

‘Beyond bolstering our position as a home for talent, Unilever is a global leader in its industry, and when it chooses to conduct its global leadership development programmes out of Singapore, it’s going to bring to Singapore several things – its best-in-class programmes and its thought leadership,’ Mr Yip told BT in an interview last Thursday.
‘It’s going to help us co-develop a much stronger talent pipeline for the consumer business, but the sheer fact that Unilever runs its programmes out of Singapore . . . will also help to raise the level of offering that we’re able to provide out of Singapore,’ Mr Yip said.
Singapore is already Unilever’s headquarters for Asia, Africa, the Middle East and Central and Eastern Europe. The company also carries out key innovation work here. So making Singapore a centre to develop tomorrow’s leaders for Unilever is a natural next step for the company to take, according to Mr Yip.

To be called Four Acres – Singapore (similar to Unilever’s iconic Four Acres leadership centre in London), the centre will help beef up Singapore’s talent infrastructure, he said.
It will be a big magnet for leading corporate universities, business schools as well as talent management and leadership consultancies and human capital institutes at LINK@Nepal Hill, where Four Acres – Singapore itself will also be located.

‘They (Four Acres – Singapore) will be a signature tenant because they will take up a large part of the space at Nepal Hill,’ Mr Yip said. ‘But because of their size and sophistication and lead demand, they will help us raise the quality of what that clustering of tenants at Nepal Hill will provide.’

Source: The Business Times – By CHUANG PECK MING

Showcased at the inaugural Global Marketing Leadership Summit in Singapore, this event saw a total of 50 selected Asian marketing leaders in attendance featuring panel discussions, workshops and case study presentations from Unilever and Johnnie Walker.

Authored by global marketing experts Marc de Swaan Arons and Frank Van den Driest, the book takes readers on an in-depth exploration of issues that confront executives charged with marketing brands in multiple international markets, and reveal processes and solutions devised to address these issues. Including insights drawn from interviews with many of today’s Chief Marketing Officers of top global companies, from Silvia Lagnado (Bacardi), Antonio Lucio (VISA), Kerris Bright ( British Airways) to Jim Stengel (P&G,2001-2008 ), Rob Malcolm (Diageo,1999-2008) and Simon Clift (Unilever, 2008-2010).

“Over the past decade, we have had the privilege to advise and learn from marketing leaders in nearly every conceivable type of organization. From this, our experience has shown that across every industry, and without exception, global brands today play a significantly more ‘important’ role than they did only a decade ago. That is why we gathered our knowledge and came out with a book that reviews today’s altered landscape from the perspective of a marketer within a global marketing organization and focused on aspects that every global market leader needs to be thinking or strategizing about,” says de Swaan Arons.

The book draws reference from the proprietary Leading Global Brands Study which includes contribution from over 250 global brands, 2500 global marketing leaders, and 21000 global marketers and their colleagues. Case studies provided in the book are of leading marketing brands and companies such as, Procter & Gamble, Unilever, Johnnie Walker, Dulux, Coca Cola, VISA and HSBC.

Both authors have worked with the leaders of many of the world’s most successful brands and found that global brands today play an increasingly critical role in almost every worldwide market for products and services. Hence, global marketing effectiveness has become the contemporary hot-button issue for CMOs which is a core focus that the book brings to various companies.

“Faced with the critical challenges of creating and growing global brands, marketers constantly find themselves forging into vast and uncharted territory. This book is all about increasing global brand effectiveness and efficiency across multiple markets. The vision and approach presented by us address the specific opportunities and challenges faced by marketing leaders working with brands that are sold in multiple markets. It provides insights into the ‘hows’ of effective global marketing using real-life experiences and case studies from marketing leaders at many of the world’s biggest brands,” says van den Driest.

To date, no marketing or business books on the shelves have been able to take aim specifically at how to develop a winning global marketing strategy for brands in multiple markets. The book and the summits have received an overwhelming response from its launches in Shanghai, London, Amsterdam and New York and now from Singapore.

Attendees to the summit in Singapore included big names such as Les Buckley, Regional Director Asia Pacific Breweries and Joanna Wong, Vice President for Brand Management and Corporate Communications of Eu Yan Sang International.

Dr Les Buckley, Regional Director APB limited says, “It was lasik for my marketing myopia and opened my eyes and mind to particularly how we could create sustainable growth across Asia.”

“There are not many forums like these that address the topic of global branding. I think that this summit has brought a lot of relevance and convincing expert knowledge to our attention. It’s very inspirational, topical and gives marketers what they need to hear. Marc and his team are spot on in identifying the challenges and addressing them with solutions that we need. The key learnings from best practices, case studies and shared experiences provide lots of good strategies that we can apply in various areas of the business. It was good to learn from Marc and other CMOs this morning and I would recommend this book to all marketers,” says Joanna Wong.

Other reviews from CMOs about the book include the following

“Over the last decade global marketing has become a whole different ball game. This is the first book I know of that addresses the key global marketing issues head on. The authors clearly build on broad and deep experience, and offer a unique view from within many of the most successful global marketing companies.” –Jim Stengel, Global Marketing Officer, P&G (2001-2008)

“This book is a rare and extremely valuable contribution to help global companies manage their most valuable assets in multiple countries.” –Simon Clift, Chief Marketing Officer Unilever (2008-2010)

“The Global Brand CEO is a must-read for anyone involved in marketing a global brand. Leveraging its unique vantage point of deep experience and practice across an incredibly wide range of brands, companies and markets, this book brings you both proven theory and practical How To’s that will enable you to immediately improve the effectiveness and efficiency of how you conduct your marketing role and develop your
organization.” –Rob Malcolm, President Global Marketing, Sales and Innovation Diageo (1999-2008)

THE GLOBAL CEO: THE ULTIMATE MARKETING MACHINE is available at SGD34.95 on amazon.com, kindle and local book stores.

HOUSE IN THE NETHERLANDS
Subject to passing of the proposed Bill (Belastingplan 2011) by the First Chamber coming 21 December 2010 and subject to meeting qualifying conditions, expatriates who still own a house in the Netherlands may continue to use the facility to claim the mortgage interest relief upon having rented out one’s house. The facility will continue to apply to the end of 2012. Also, the transfer tax due upon subsequent sale of one’s house (within a 12 months period) shall be limited to the excess value of the two transactions.

REDUCTION CORPORATE INCOME TAX RATE
As from January 1, 2011 the corporate income tax rate shall be reduced to 25%. The first EUR 200,000 of taxable income shall be subject to the reduced rate of 20% corporate income tax.

EMPLOYMENT AGREEMENTS FOR YOUNG PEOPLE
Up to January 1, 2012 special rules apply for successive fixed term contracts for employees younger than 27 years. Only the fifth temporary employment contract with employees under the age of 27 automatically becomes a permanent employment contract. Furthermore the second or successive temporary contract shall only become permanent if (in total) a period of 48 months is exceeded. As soon as the employee reaches the age of 27 this regulation no longer applies.

This information was made available by VoskampLaywers, for more information please visit: www.voskamplawyers.com

Some of the world’s largest oil and gas companies have looked to Singapore to set up operations, R&D and manufacturing facilities to take advantage of the consistent high quality of services here. In line with the rising importance of the marine and offshore industry in Singapore, OSEA2010 has expanded to accommodate the increasing demand for more sophisticated technologies and solutions from companies; anchoring its position as the eminent sourcing and networking platform for the industry.

The successful “Maritime” cocktail party at the residence of the Dutch Ambassador in Singapore
Wednesday evening the Dutch Ambasador to Singapore Hans Jansing with his wife Barbara hosted at their residence a large “Maritime” cocktail party with excellent food which evening was sponsored by Dockwise, Smit, Van Oord, Heerema and Boskalis.

Photos are made by Piet Sinke

The Anglo-Dutch company, better-known for its fast-growing consumer brands like as Ben & Jerry ice cream, Lipton tea, Lux soap and Dove personal care, is shooting for its annual turnover to jump from 40 billion euros (S$71 billion) to 80 billion euros. A key to success will be leadership and management talent with a global mindset that’s equally at home in Asia and the fast emerging markets which Unilever is putting heavy bets on, according to the company’s chief executive Paul Polman.

So Unilever is setting up a global leadership centre in Singapore to build up a pipeline of leadership talent to drive its business in the high-growth emerging markets in the coming years. ‘Unilever wants to double in size whilst reducing its environmental footprint,’ Mr Polman said in an interview with BT on Saturday. ‘To achieve this significant growth ambition, the business will need talented leaders.’

‘Unilever wants to double in size whilst reducing its environmental footprint.’ – Paul Polman, CEO of Unilever

While the company already has a state-of-the-art leadership development centre in London, that is far from its main growth markets, he indicated.
‘It is therefore important that we establish this new, second top class leadership development facility in Singapore in the fast-growing markets,’ Mr Polman said.

Unilever will pump between 35 million and 45 million euros to set up the centre, which will be housed in 10 black-and-white bungalows on 23,000 square metres of space at LINK@Nepal Hill, a part of one-north in Buona Vista.
But London-based Mr Polman, who was here last week to finalise plans for the centre, stressed that more important is the on-going investment that Unilever will make to ensure the training and development is more than up to scratch.
He wants the centre to be a ‘state-of-the-art’ institution which provides the best leadership development in the world.
Unilever’s iconic ‘Four Acres’ leadership centre in London is already recognised as such. The centre here – Four Acres-Singapore – is the company’s second.
After it opens around mid-2012, Four Acres-Singapore will see about 900 – a number bigger than those at the London centre – attending its classes yearly.

Worldwide, Unilever has 165,000 people on its payroll. It has about 10,000 managers and some 6,000 senior managers. There are over 900 employees in Singapore.

‘Singapore is an ideal place for the centre,’ Mr Polman said. ‘You have made tremendous investments in intellectual capital – you have great universities here. You have attracted a lot of companies in the area of research. We feel very comfortable to leverage that tremendous strength in your cultural diversity.’
Singapore is already the company’s headquarters for Asia, East and Central Europe, Africa and the Middle East, which account for 70-80 per cent of Unilever’s global growth today – and more than half its total sales.

Source: The Business Times – By CHUANG PECK MING

Located in the Ayer Rajah Crescent near Buona Vista MRT, the MDA’s new initiative is part of a larger campaign by the authority known as the Mediapolis Phase Zero, with the sole intention of accelerating the development of next-gen consumer applications.

The super incubator, similar to initiatives like TechHub in London, will bring lots of different companies from the Singapore media sector, not only providing space for them to work but welcome collaborations between them. Boasting seven floors, the building will supply office space averaging around 90 sqm, featuring air conditioning, internet access and lighting.

For all of that, the authority will charge an average of S$16 per sqm. startups can apply for offices now and will become available at the beginning of 2011 through to December 2013, obtaining three months rent free if they apply before December 31 2010.

Source: http://thenextweb.com/asia/

The new office will help DSM ramp up its development for products such as vitamins and drugs like penicillin over the next two years.
By basing its regional headquarters in Singapore, DSM wants to ride on the ASEAN-China Free Trade Agreement to reach out to about two billion potential consumers.

And it believes that Singapore provides the best location to expand its operations.
Last year, 25 percent of DSM’s net global sales came from the Asia Pacific region.

Antonio-Ruy Freire, Board Member, DSM Nutrition Products, said: “Singapore’s main purpose is to facilitate the development of our strategy in Asia. So (from) Singapore, we will steer and manage the business (stretching) from Tanzania or New Zealand up to India. Singapore has a fantastic network for communication, it’s very easy to fly from Singapore to any place.”

DSM will be the latest, out of 250 other Dutch companies such as Shell and Unilever, to have a regional office in Singapore.

The Economic Development Board says this is in line with the trend it sees of more global companies opening regional headquarters here in the last two years. EDB Managing Director, Beh Swan Gin said, “This surge of interest in Singapore has been unprecedented. I must say the number of key decision makers, the variety of global functions that is now located in Singapore, has exploded and it has made Singapore actually very interesting as a leading business centre. ”

The Netherlands Embassy in Singapore’s Deputy Head of Mission, Pauline Eizema said, “It is encouraging, but not surprising, that DSM has chosen Singapore as the heart – or perhaps I should say brain – of its operations in the region.”

She pointed out that this is largely due to the similarities that both countries share, particularly in human resources as well as research and development.

The Netherlands in the third largest investor in Singapore.

Overall, trade flows between the Netherlands and Singapore is estimated at S$13 billion for the first 10 months of the year.

source: http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1096253/1/.html

The Global Cleantech 100 highlights the most promising private clean technology companies – companies deemed most likely to make the most significant market impact over the next 5-10 years in the eyes of the world’s cleantech experts. The Cleantech Group draws on its own data and research, and combines it with the weighted qualitative judgments of both hundreds of cleantech industry insiders, and the viewpoints of a 60-strong, international expert panel.

This year, 4,616 nominations were received drawn from 50 countries. The end result was 100 companies from 14 countries.

“The Global Cleantech 100 list represents the most rigorous, serious attempt made yet to provide a scorecard of the progress that is being made by cleantech companies. This year’s expert panel involved a greater level of corporate participation than last year’s, and we also saw an increased presence of companies from China in the Top 100 list – both trends that we at VantagePoint see as critical signs of the times,” commented Stephan Dolezalek, the CleanTech Group Leader at VantagePoint Point Venture Partners.
“We are honored to be recognized as a global lighting leader,” said Warner Philips, Co-Founder of Lemnis lighting. “We feel that energy efficiency and lighting in particular have the most potential to create a mass change in our global energy shortage problem and we will continue to bring products to market that directly address this problem.”

In previous years, Lemnis Lighting has been named a “Technology Pioneer” by the World Economic Forum (2009), received the Lighting Africa award by the World Bank in 2008 and was named to the list of Top 10 Consumer Products by Fast Company Magazine in 2010. Lemnis Lighting was also recently selected by the South African government as a partner in the campaign to offset the CO2 impact resulting from the FIFA World Cup.

The full list of Global Cleantech 100 firms is available online, on the websites of the Cleantech Group (http://cleantech.com/GlobalCleantech100.cfm). and the Guardian (http://www.guardian.co.uk).

The programme containing several presentation and network opportunities was attended and very well received by 60+ people from within and around the industy. Presentators from Singapore Delft Water Alliance, Deltares, Delta Marine Consultants, Ecoshape en Boskalis were able to give a well balanced view on the adaption need to climate change. Insights were gained on amongst others:
the risks of ‘coastal squeeze’, the added value oysters can bring , Ecobeaches and Eco-reefs.

For the complete presentations please download from the links below:
Introduction – A/ Prof. Vladan Babovic download presentation
Singapore Delft Water Alliance – Dr. Ted Webb download presentation
Deltares – Ms. Jamie Lescinski download presentation
Delta Marine Consultants – Mr. Martijn Meijer download presentation
Ecoshape – Dr. Claire Jeuken download presentation
Boskalis – Mr. Pranab Choudhury download presentation

Opening at the PUB Water Hub


DutchCham – A/ Prof Vladan Babovic: An introduction to Building with Nature


Deltares – Ms. Jamie Lescinski: Problems Analysis to Conceptual Solution


DMC – Mr. Martijn Meijer – on: Natural coastal defences “from eco-beach to eco-xbloc

On August 30 the Singapore government announced that private property owners are now subject to a higher cash payment, as well as a lower loan-to-value (LTV) for property buyers with more than one outstanding loan. Sellers’ stamp duty has also been increased from one year – announced in February 2010 – to three years for home owners looking to sell their properties. This translates to as much as 3 per cent should the property be sold within a year of purchase, 2 per cent if sold two years after purchase, and 1 per cent if sold three years after purchase.

The rationales behind the latest anti-speculative measures is to control housing prices and provide aid to genuine home owners. The measures are aimed at protecting the property market, given that there is still much uncertainty lingering in the global markets. Weak employment data from the United States constantly injects fear into the sentiments of the investors. Both China and Hong Kong are implementing policies to prevent their overpriced property markets from turning into asset bubbles. The European economy is still relatively weak, albeit closing in on a self-sustaining recovery according to the European Central Bank. The aforementioned factors, combined with the anti-speculative measures, present a real concern for homeowners, prospective buyers and investors. They now find themselves unable to leverage their financing as much as previously, and now have to hold their assets for a much longer period due to the extension of the stamp duty imposition period.

How will residential properties in the prime districts of Singapore (districts 1 to 11) perform given these new measures, as well as troubled economic times? Let’s not forget that prime properties require larger capital outlays, and they generally constitute to a higher asset risk compared to their non-prime counterparts.

Thankfully not all is lost. Prime properties are desirable investments because of their potential lucrative returns. Data from the Urban Redevelopment Authority of Singapore indicates that the median price per sq ft of completed prime properties within the core central region is almost S$1,300 (US$996), a steady rise from an average of S$1,200 (US$919) in the second quarter. A development representative of the performance of the prime properties is Amaryllis Ville which was also selling about S$1,300 per sq ft during the same period. The condominium, which is located in the prestigious Newton-Novena area, is highly popular with many expatriates.

“While local buyers are holding out in anticipation of a drop in price due to the recent policies implemented, there are as many homeowners who are also waiting for good offers before they consider selling their units,” said Celine Tay, a property specialist at SingaporeCondo.com who has been based at the development for over two years.” Of course, there has been a dip in interests since the announcement of the anti-speculative measures.”. In contrast, rentals in Amaryllis Ville are still performing because the measures do not have a direct impact on rents. Since the measures step in one month ago, Celine still managed to close an impressive number of rental units in the development.

Given the delayed responsiveness of the property market, only time will reveal the full effects these anti-speculative measures will have on private property prices in Singapore. Currently landlords can consider refinancing their mortgage loans to take advantage of the current low interest rates. In cases of vacant units, landlords should be more realistic in their rental pricing and aim to lease out their units as soon as possible to ease their cash flows.

Source: http://www.property-report.com/site/singapores-cooling-measures-9654

Mr Adrian Ng was appointed Director for North America and Europe at the Ministry of Trade and Industry on 1 October 2010. Under his current portfolio, he is responsible for formulating and overseeing the implementation of Singapore’s economic engagement strategy for these key regions.

This includes promoting Singapore’s economic interests through bilateral engagement as well as supporting Singapore’s participation in regional fora such as the Asia-Europe Meeting (ASEM).

He is also the Director in charge of Singapore’s participation in the Trans-Pacific Partnership Agreement and Singapore’s economic engagement with the European Union.

Mr Ng graduated from the Ecole Centrale de Paris and obtained a Master degree in Semiconductor Physics and Microelectronics Engineering from the University of Cambridge in 1994. He started his career at the Ministry of Trade and Industry, followed by a stint at the Economic Development Board of Singapore before joining the private sector. Mr Ng spent 6 years in the Smart Card industry as Director for Marketing and Sales Operations of Gemplus/Gemalto’s telecommunications business in South Asia. He rejoined the Ministry of Trade and Industry in August 2006.

Prior to his current portfolio, he also covered the South Asia, Middle East, Africa, Latin America and Central Asia regions.

Mr Ng is married to Dr Vivian Ng, and they have three daughters.

Both countries will release their 2010 numbers by February. Indonesia and Thailand are South-east Asia’s largest and second largest economies respectively.

Analysts say the development underlines the need for Putrajaya to step up efforts to raise competitiveness and undertake wider reforms in Malaysia, a country 478 times the size of Singapore.

OSK Research head of research Chris Eng said Malaysians are preoccupied with how to divide the economic pie among themselves, while other South-east Asian nations were more concerned with how to gain an edge over their neighbours, reported the Malaysian Insider.

“Foreign investors tend to say that Malaysia, on the whole, is generally inward focused,” Mr Eng said.

Singapore has grown 189-fold in the 45 years since gaining independence from its northern neighbour Malaysia, helping boost GDP per capita from US$512 to US$36,537 last year. During the same period, Malaysia’s economy expanded at one-third the pace, only managing to raise GDP per capita from US$335 in 1965 to US$6,975 in 2009.

Singapore also topped a list of 183 countries in a recent World Bank survey of business conditions, which looks at property rights, taxes, access to credit, labour laws and regulations on customs and licenses.

Malaysia climbed two steps to 21st spot.

RAM Holdings chief economist Yeah Kim Leng explained Malaysia could readily take advantage of the island-state’s success by tapping into its access to global markets.

Singapore’s constant move to reinvent its economy created opportunities for Malaysia to offer itself up as a credible alternative for industries looking to move out of Singapore, Dr Yeah added.

He agreed with former Prime Minister Mahathir Mohamad’s “incisive” comment that Singapore’s rapid expansion was due to the fact that it only focused on growing the economy. Dr Mahathir told Bloomberg that Singapore will overtake Malaysia because it did not have any “social restructuring goal”, such as equitable distribution of wealth between the races.

Source: TodayOnline.com – http://www.todayonline.com/World/EDC101112-0000098/Spore-set-to-surpass-Msia-as-South-east-Asias-third-largest-economy

After her studies in Italy and Ireland, she first moved to Spain and then to The Netherlands where she worked for 10 years in the event industry. She has been in Asia since 2007 where she worked as account manager and event developer in Hong Kong and Indonesia. As an Italian native, she has always enjoyed working in an international environment with a strong knowledge of the Dutch business culture. Marta is married to a Dutch national and has a daughter, Noa of 4 years old.

She is an active promoter of the good work & life balance. She just joined the New Balance Real Run 2010 which is going to be a stepping stone for future sport events.

For any questions and/ or congratulations, please contact her at: marta.fiocco@dutchcham.sg

Although the news media focuses on the GMs, Microsofts and Wal-Marts of the world, it’s really Mom-and-Pop shops that make the world economy go round.

Most jobs in any economy are created and sustained by small and medium-sized businesses. And the seeds of recovery are often sown through the entrepreneurial blood of laid-off workers.

Indeed, some trace the tech entrepreneurial boom in the 1990s to the round of layoffs that occurred in the U.S. after the 1987 stock market crash. Entrepreneurship – and the South Korean economy – soared in the years following the devastating 1997-98 Asian Financial Crisis. So in the aftermath of the greatest world recession since World War II, it’s worth watching which countries are doing the most to help foster entrepreneurial growth.

By that measure, East Asia is ahead of the pack. According to a ranking released Thursday by the World Bank and the International Financial Corporation, the economies of East Asia are doing the most to foster entrepreneurship.

“For the first time in eight years, the economies of East Asia and the Pacific were among the most active,” the report said.

“Eighteen of 24 reformed business regulations and institutions in the past year—more than in any other region.

“Emerging-market economies such as Indonesia, Malaysia, and Vietnam took the lead, easing business start-up, permitting, and property registration, and improving credit information sharing,” the report said.

The report examined ease of starting a business, paying taxes, trading across borders, enforcing contracts and other factors that help pave the way for new businesses.

Global rankings on ease of doing business:

1) Singapore

2) Hong Kong SAR, China
3) New Zealand
4) United Kingdom
5) United States
6) Denmark
7) Canada
8) Norway
9) Ireland
10) Australia
11) Saudi Arabia
12) Georgia
13) Finland
14) Sweden
15) Iceland
16) South Korea
17) Estonia
18) Japan
19) Thailand
20) Mauritius

The Netherlands climbed back into 29th place this year

Souce: CNN – http://business.blogs.cnn.com/2010/11/04/the-best-place-to-start-a-business-i/?hpt=C2

Power and energy industry professionals experienced a range of leading international speakers, from Singapore, Thailand, Malaysia, Indonesia and beyond, discussing some of the most important issues facing the industry, economy and environment in the region.

The Dutch presence at this exhibition was large with over 20 “power-generators” from the Netherlands. At the “Dutch Hour” Mr. Ambassador Jansing, was guest of honor and gave a speech on the future and importance of power generation in Singapore and possibilities for Dutch companies to be a part of this future.

As of today the Embassy will use an online appointment system for the application of Dutch passports, Schengen visa or legalisations. This will shorten the waiting time at the counters, and allows you to choose a day and time for your appointment which is convenient for you.

To book the appointment, please go to the website of the Embassy – www.mfa.nl/sin – and choose from the available days and time slots.

Appointments can be scheduled on Monday to Friday, between 9am and 1pm.

For more information about the new online appointment system please contact the Embassy of the Kingdom of the Netherlands.

You can call the Embassy from Monday to Friday between 8.30 am and 5 pm on phone number 6737 1155 or send an email to sin-ca@minbuza.nl

This year, the EBF will cover the UK and EU legislation on Climate Change; a world-leading logistic company will present how is becoming greener without compromise on quality and efficiency and a leading firm in LED Lighting will demonstrate how LED lights could save 17% of World Energy Reserves

With forum moderator Mr Frans Otten, Co-Founder Tendris (picture), industry leaders will discuss three futures in sourcing clean energy.

Mr John Rooymans, Founder Lemnis Lighting will present: “A new vision on light, save 17% of world’s energy reserves by LED lighting”

The Europe Business Forum is hosted inside the Clean Energy Expo Asia (CEEA). Admission to the Europe Business Forum is ONLY possible via the CEEA by purchasing a 1-day ticket for the CEEA. The first 40 attendees registering for the Europe Business Forum can enter FOR FREE

However, the survey has its limitations and may not lend itself to accurate comparison, said the Central Provident Fund (CPF) Board. The United States, Germany, Japan and China all placed below Singapore in the league table of 14 nations. Last year, Singapore was eighth in the survey, which then looked at only 11 nations.

Top this year is the Netherlands, with a score of 78.3 out of 100, Switzerland (75.3) is second, then Sweden (74.5). Australia, on a score of 72.9, fell from second to fourth due to more countries in the rankings and a decline in its score. Singapore scored 59.6, up from 57.

Like last year, no country achieved an A-grade classification – a score above 80 – confirming that no one system is robust enough to withstand the challenges presented by an aging population.

Source: Strait Times – http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_593741.html

The Tax Plan 2011 has been influenced by post crisis-related considerations. On a corporate level the Tax Plan is focussed on encouraging entrepreneurship and innovation, while at the individual level the aim of the Tax Plan is to promote labour participation.

The proposed 2011 Tax Plan will take effect on 1 January 2011, however is pending approval by the newly constituted parliament. We will provide further details on the specifics, as and when the 2011 tax measures have been approved.

The awards recognize outstanding achievements within the Singapore business community. The importance of the event was highlighted by the presence of Senior Minister of State for Trade and Industry, Mr. S Iswaran, British High Commisioner to Singapore, His Excellency Paul Madden, and the President of the British Chamber of Commerce – Singapore, Mr Steve Pucket.

Brunel is honored to have won the award this year. After Brunel was nominated and shortlisted for the award, judges reviewed references from clients and contractors. The references received enabled Brunel to significantly stand out among several well-recognized companies–including Zurich and the Henley Group–and win the top prize.

In the next six months, the Economic Development Board (EDB) plans to partner ten “multipliers” in a concerted move to ease such companies’ entry into Singapore. The first of EDB’s partners in this endeavour will be the Singapore Business Federation (SBF), Senior Minister S Jayakumar announced yesterday at the opening of the Global Entrepolis @ Singapore Summit 2010.

The nine other “multipliers” – set-ups with strong business support services or global networks – will likely be country chambers such as the Singapore-German Chamber of Industry and Commerce, EDB said. Prof Jayakumar said in his opening address that global mid-sized companies are increasingly using Singapore to break into Asia, while Asian enterprises see Singapore as a launch-pad to the world.

But such companies have less in-house resources, compared to the large MNCs Singapore has a strong track record with, to drive expansion plans into unfamiliar locations. Singapore thus needs to “adopt a different engagement model to support their needs”, Prof Jayakumar said.

EDB managing director Beh Swan Gin said: “We want them to know that Singapore welcomes them even if their initial presence may be small,” such as a small sales or representative office. Already, several companies which started that way have now laid down deeper roots and more substantial operations here.

Kulicke & Soffa, a global leader in the design and manufacture of semiconductor assembly equipment, has grown from a sales office here in the 1990s to bring in manufacturing and R&D activities. It recently announced plans to relocate its global HQ from Pennsylvania, USA to Singapore by next year-end and base its newly appointed CEO here too. Similarly, AAC Acoustic, China’s largest manufacturer of miniature acoustic components – which opened its first international HQ here to oversee sales and marketing, regional logistics and R&D – now intends to open automated production lines, expand to a larger facility and hire 100 more staff here over the next three years. To facilitate more stories like these, Dr Beh said EDB has formed a new unit with eight officers dedicated to this new effort, supported by its 21 offices around the world. Its first partner SBF will also be forming a dedicated team to support this partnership.

SBF chairman Tony Chew, who signed the memorandum of understanding with Dr Beh yesterday, said SBF can provide services that these companies need through its partners – venture capitalists, financiers, consultants and research institutions.

It helps that businessmen speak one another’s language too. “Given SBF’s intimacy with the business community and our ability to distil business issues to accelerate implementation, we hope to provide an efficient one-stop facilitation platform to foreign investors,” SBF chief operating officer Victor Tay said. This includes offering temporary office space, matchmaking, consortium formation, sourcing for suppliers and help with entering regional markets.

The plan, Mr Tay said, is to seek out the top 5-10 companies operating in specific industry sectors, especially ones with innovation and knowledge-intensive activities, and attract them to Singapore. Anchoring them here will in turn help Singapore anchor its position as a key Global-Asia hub – in line with a key Economic Strategies Committee recommendation. These companies will also help “grow and enhance our existing industry clusters” and make Singapore’s corporate ecosystem “more vibrant and diverse”, creating new job opportunities, Prof Jayakumar said.

Local business associations welcomed this stepped-up effort on behalf of their members. Singapore Chinese Chamber of Commerce & Industry secretary-general Lim Sah Soon said drawing in these Asian enterprises and mid-sized global ones would especially benefit small local enterprises, which would have more opportunities to forge partnerships to break into huge markets like China.

Agreeing, Singapore Indian Chamber of Commerce & Industry CEO Hernaikh Singh said the chamber hopes to be part of what he sees as an “important initiative”, by providing a platform for such companies to penetrate markets in India and the sub-continent, South-east Asia, the Middle East and Africa.

Source: (C) Singapore Press Holdings Limited – The Business Times

Beach House Pictures and NHNZ have a long standing relationship with the MDA and this will be the co-production partnership’s first venture into 3D.

Beach House Pictures managing director Jocelyn Little says given the long history of the successful partnership between the three organisations, it is only apt that they should embark together on this new direction. “We are delighted that the MDA is investing in our first 3D production,” she says. “MDA has made a concerted effort to develop 3D capabilities for Singapore’s media sector, which has enabled us to expedite our involvement in 3D content. It is great to be at the forefront of developing programmes for a new media on the cutting edge of technology.”

Over the last year NHNZ and Beach House Pictures have also focused strongly on developing their 3D capabilities and both companies have acquired the technology and the skills to enable them to cater for the expected demand in 3D productions.

NHNZ managing director Michael Stedman says 3D has captured the attention of audiences worldwide and making shows in 3D is a natural progression for NHNZ and its co-production partners. “We expect to see enormous growth in the 3D market and being this early out of the blocks will give us an advantage when the demand for 3D starts to swell.”

Dr Christopher Chia, Chief Executive Officer of the Singapore Media Development Authority says, “We are heartened to see one of our homegrown companies take the initiative to be an Asian pioneer in 3D production for the international TV market. This collaboration will further enable us to deliver high quality 3D productions with global appeal, whilst capitalising on Singapore’s recognized strength in factual documentaries.”

Singapore’s foremost post production company and experts in 3D post production, Blackmagic Design, will be handling some aspects of the final post production process for this series.
Source: On Film – http://www.onfilm.co.nz/2010/10/06/beach-house-nhnz-and-singapore%E2%80%99s-media-development-authority-embark-on-3d/

In the latest survey in June 2010, Singapore was the 15th most expensive office location surveyed, with an average occupancy cost of US$58.08 per square foot per year for Grade A Central Business District office space. This marked an increase of 8.1 per cent over the average annual rental of US$53.71 psf in December 2009, when Singapore was in 24th position.

Hong Kong remained the most expensive office market, with an average rental of US$161.42 psf per year in June 2010. This means Singapore’s office occupancy cost was about 64 per cent below Hong Kong’s, underscoring the Republic’s competitiveness against its arch rival, argued Colliers.
For Hong Kong, the increase in office occupancy cost over the six-month period in US dollar terms was muted (from US$161.14 psf per year in December 2009) because of the weakening Hong Kong currency against US dollar. However, in local currency terms, Hong Kong’s Grade A CBD rental rose at a faster clip of 14.1 per cent during the six-month period compared with a 7.6 per cent increase in Singapore.

An exchange rate of US$1=S$1.40 was used for both surveys; the rate was US$1=HK$7.78 in the latest June 2010 survey, against US$1=HK$6.84 in the December 2009 survey.

London West End, Tokyo and London City retained their second, third and fourth spots respectively. Delhi went up from 27th in December 2009 to 13th in June 2010. Sydney emerged 18th in the latest survey, up from 28th previously.

Giving an update on the latest performance of the Singapore office market, Colliers said that the average gross monthly rental value for Grade A CBD office space appreciated 8.7 per cent quarter on quarter to $7.36 psf in Q3 this year following a 7.6 per cent escalation in the first half of 2010. In the Raffles Place/New Downtown micro-market, the average monthly rental of Grade A office space rose 10.9 per cent quarter on quarter to $8.07 psf in Q3. ‘The office property market sped ahead in Q3 2010 soon after turning around in Q2 2010, as robust occupier demand, amidst the buoyant economy, emboldened landlords to raise rents,’ observes Colliers director of research and advisory Tay Huey Ying.

The brisk leasing activity pushed up the average occupancy rate of Grade A space in the CBD from 93 per cent at end-Q2 to 94.1 per cent at end-Q3. In the prime Raffles Place/New Downtown micro-market, the occupancy rate for Grade A space rose from 96.1 per cent at end-Q2 to 97.4 per cent at end-Q3, attesting to the district’s continued popularity with businesses, Colliers said. ‘With the worst of the global financial crisis behind us, demand for office space is expected to remain on a growth trajectory – with financial institutions once again accounting for the bulk of space enquiries and expansion,’ Ms Tay said.

CB Richard Ellis executive director (office services) Moray Armstrong said: ‘There’s a reasonable number of options available to occupiers but not as wide a spectrum of opportunities as there was nine months ago. ‘As a metric, if you needed a block of 40,000 sq ft a year ago, we could have found 26 buildings in Singapore with an aggregate of 4.7 million sq ft available in blocks of 40,000 sq ft or more. If you had the same-sized requirement today, you would have 16 buildings offering an aggregate space of 2.6 million sq ft. ‘None of this leads one to conclude there is an immediate office space crunch but the market direction is pretty apparent.’

Agreeing, DTZ regional head, occupier services, Angela Tan says: ‘There are fewer options for occupiers and they’re getting more expensive. Landlords who hike rents too fast may find potential tenants gravitating towards other buildings where rents are more competitive. Government should seriously review future pipeline supply; the Marina Bay area is still the preferred location for major financial institutions and global companies.’

Source: Business Times – By KALPANA RASHIWALA
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.