The_King

SINGAPORE: Malaysian cargo drivers eligible for COVID-19 vaccinations in Singapore will be selected based on the frequency of their travel between the two countries, said the Ministry of Trade and Industry (MTI) on Tuesday (Mar 9). "The vaccination is voluntary and the cost of the vaccination will be borne by the Singapore Government," said MTI in response to CNA's queries. "We have been in touch with our Malaysian counterparts regarding plans to vaccinate the cargo drivers and accompanying personnel." Singapore's Ministry of Health had announced on Monday the move to offer COVID-19 vaccinations later this month to selected cargo drivers and accompanying personnel who enter the country from Malaysia on a regular basis. Giving more details on how eligible worker will be contacted, MTI said they will first be informed via SMS and then contacted individually over the phone to schedule an appointment. "Cargo drivers and accompanying personnel perform an essential service of delivering goods between Malaysia and Singapore to ensure the undisrupted flow of goods," said MTI. "As they carry out their deliveries in Singapore and have high touchpoints with the local communities in both countries, the vaccinations will provide an additional layer of protection against COVID-19." Those who are not vaccinated may continue to enter Singapore, subject to infection control measures such as on-arrival testing and safe management measures, said the Health Ministry on Monday. Cargo drivers entering Singapore from Malaysia via the Tuas and Woodlands checkpoints are currently required to undergo COVID-19 antigen rapid testing, which can return results within half an hour. The drivers will be allowed to enter Singapore if their results are negative. Source: CNA/ic(gs)

Vietnamese specialties are presented at the Singapore Francophonie Festival 2021 . Photo: VNA Singapore (VNA) - Traditional Vietnamese dishes and products are featured at the 2021 Festival de la Francophonie which opened on March 8 in Singapore. The Festival, on the theme “Gender Equality”, sees the participation of 21 countries. It has 16 main activities, including film screenings, panel discussions and culinary activities. Vietnam is one of the nine countries to join the gastronomy festival in this context. It is a chance for him to present his cuisine, including products that have been offered for sale in the distribution network in Singapore. The International Organization of La Francophonie ( OIF ) comprises 88 states and governments. The community has more than a billion inhabitants on five continents, with more than 300 million French speakers. This year, the member embassies of the International Organization of La Francophonie came together to launch the 2021 edition of the Festival de la Francophonie in Singapore, which takes place from March 8 to 30. The festival celebrates the French language, Francophone cultures and the values of the Francophonie: solidarity, humanism, peace, democracy, human rights and diversity. -VNA https://fr.vietnamplus.vn/la-cuisine-vietnamienne-presentee-au-festival-de-la-francophonie-de-singapour-2021/156335.vnp

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KUALA LUMPUR, March 9 — Forty per cent of millennials are spending beyond their means, said Finance Minister Tengku Datuk Seri Tengku Zafrul Abdul Aziz. He said according to Bank Negara Malaysia, 47 per cent of Malaysian youths have high credit card debts. “So think thoroughly about what is necessary and prioritise your purchases, whether it’s a new outfit or new phone, or, like what one of my nephews wants, a PS5, and you will find that every ringgit will go a long way. “Warren Buffett famously said, ‘do not save what is left after spending, but spend what is left after saving’. In other words, pay yourself first and use the power of compounding to your advantage,” he said at the Kembara Bijak Wang 2020 (KBW 2020) prize-giving ceremony today. Tengku Zafrul said, for example, if a twenty-year-old wishes to have RM1 million in savings by the time he or she turns 60, assuming an annual return of six per cent, he or she would need to save about 500 ringgit per month. He said according to the Employees Provident Fund (EPF), 50 per cent of EPF members have less than RM200,000 in their accounts — lower than the average of RM240,000 that members should have in basic savings when they reach age 55. Tengku Zafrul also noted that 50 per cent of contributors would exhaust their savings within five years of their retirement. “However, with the emergence of the gig economy such as Grab, Foodpanda and Shopee, we have many opportunities and options to earn alternative sources of income to enhance our savings. “In that respect, I am very pleased to see many Malaysians taking up the challenge of starting their own business,” he added. He also advised Malaysian to strengthen their financial literacy skills, be it on growing their wealth via investments or protecting their wealth through insurance or takaful. “Through events like KBW 2020, the goal of improving the financial wellbeing of Malaysians will become a reality in line with the Malaysian National Strategy for Financial Literacy,” Tengku Zafrul said. He said raising the level of financial literacy is a long-term commitment that requires the sustained efforts and support of many parties. KBW 2020 is a programme involving 5,600 students from more than 20 institutions of higher learning and 22 UiTM campuses nationwide, co-organised by the Credit Counselling and Debt Management Agency (AKPK), HSBC Malaysia and Universiti Sains Malaysia. The programme, which began in November last year, aims to boost the participants’ financial awareness, encourage healthy financial habits and ensuring that they become more resilient, adaptable and financially prepared to face life’s challenges, among others. — Bernama

https://www.facebook.com/klfoodie/videos/367618017561897

When he met a potential buyer for his Rolex watches last weekend, a seller didn't expect that the man would run off with the expensive timepieces without paying. According to the police, the case of theft occurred along Upper Boon Keng Road on March 6 during an arranged meet-up between the two men. The 24-year-old suspect fled with two Rolex watches worth a total of $44,500 while he was "checking" on them. "Preliminary investigations revealed that the man had purportedly arranged to meet up with the victim under the guise of wanting to purchase both watches", the police said in a press release on March 7. One of the stolen Rolex watches was recovered by the police after it was listed for sale online. Through investigations and with the help of images captured on CCTV, officers of the Police Operations Command Centre and Bedok Police Division identified and arrested the suspect. He was charged with theft on March 8. If convicted, he faces a jail term of up to three years, a fine, or both.

A 38-year-old woman was taken to hospital after she was hit by a BMW car along Marina Gardens Drive towards Central Boulevard on Saturday afternoon (Mar 6). A Stomper alerted Stomp to videos of the incident that was posted on Taxiuncle's Facebook page. One of the clips shows the woman flying into the air after the car hits her while making a left turn. Another shows her lying face down on the road as the driver of the BMW stops to check on her. Another driver comes out of her car to help as well. In response to a Stomp query, the police said they were alerted to the accident at 5.45pm. "The 38-year-old female pedestrian was conscious when conveyed to the hospital," a police spokesman said. Police investigations are ongoing.

A hungry man is an angry man indeed. Looking forward to having chicken rice for dinner on Monday (Mar 8), a man placed an order via foodpanda. But he soon realised that his order could not be fulfilled in its entirety — the shop had run out of chicken, and he'd only receive four portions of rice with a side of vegetables. In a Facebook post the same night, the displeased customer ranted about how his request to cancel his order and receive a refund was rejected by the food delivery company's customer service. PHOTO: Screengrab/Facebook He shared a series of screenshots of his conversation with Foodpanda staff where he was told that the shop had already begun preparing the other dishes in his order, so he would receive a refund for only the chicken should he choose to cancel the order. "[You] expect me to eat the rice without the chicken?" he vented, likening it to ordering a burger and receiving only the buns. While many netizens sympathized with the man's situation, some couldn't help but point out that the man only had himself to blame. They explained that while placing his order, he could've chosen the "cancel the entire order" option should an item not be available, instead of selecting the option that read "remove it from my order". "It's like right there Not easy to miss," one remarked. PHOTO: Screengrab/Facebook

4.20

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No increase then worry The only want I see is increase and increase and increase

SINGAPORE — The Government will continue to subsidise rail and bus operations, but the bill to taxpayers “cannot keep ballooning”, Transport Minister Ong Ye Kung said on Friday (March 5). Steps must be taken to manage the long-term financial sustainability of the public transport system, he said during a parliamentary debate on his ministry’s budget for the upcoming financial year. This means that bus and rail operators would have to find new ways to be cost-efficient while keeping services reliable, and not try to penny-pinch on maintenance cost, thinking that this will translate to savings, Mr Ong added. This would also mean that public transport fares will have to be adjusted from time to time. Fare adjustments are needed because costs do go up, including the wages of public transport workers who look forward to earning more, he said. The Government has been spending about S$1 billion a year to subsidise rail operations and another S$1 billion a year to subsidise bus operations, he pointed out. “Train fares so far are not enough to cover these operating costs,” he said, adding that the situation is the same for buses. “The Government needs to continue to subsidise the operations of the MRT and buses. We can’t run away from that. But the bill to taxpayers cannot keep ballooning. If it does, we would leave our future generations a growing financial burden.” Other than adjusting fares and nudging operators, the Government will also try its best to cut excess capacity in the system, especially bus services that run parallel to new train lines as they come up. If not, tens of millions of dollars in operating subsidies for each service every year would go towards running these buses, he said. REVIEWING NEW RAIL FINANCING FRAMEWORK On the Government’s part, Mr Ong said that it would “square the circle” by reviewing its financing framework for the Downtown Line, which is operated by SBS Transit. The Government took over from SBS Transit the ownership and replacement of operating assets, trains and signalling systems for the line, and has been charging the operator a fixed fee for using these assets. “It is like renting on the part of the operator,” he said. Under this financing framework, SBS Transit still bears a significant commercial risk, given that it suffers losses if ridership is unhealthy and operating costs far exceeds fare revenue, he noted. “This is not ideal, because as a public utility, public transport should be a more stable business." He noted that the North-South, East-West, Circle and North East MRT lines are under “Version Two” of the financing framework, which reduces commercial volatility by having the Government cream off operators’ high profits and cushion big losses year to year. The Thomson-East Coast Line is on a third version of the framework, which Mr Ong said is akin to a contracting model: The Government collects all fare revenue, bears all revenue risk and grants the operator a fee to run the line for the initial period when ridership is still not stable. The line, which has just three stations opened last year, is expected to be fully operational in 2024. “Recognising that the (framework) has evolved over the years, we will review the arrangement for the Downtown Line, given that it is still on Version One, and this will be done with a view to ensure that the operator will run the line reliably, with high productivity, and that the line is sustainable,” he added. MRT NETWORK DENSITY TO MATCH LONDON'S Mr Ong reiterated his ministry’s goal for 75 per cent of peak-hour trips to be made using public transport by 2030 — up from 64 per cent now. More than S$60 billion would be pumped in over this decade to expand and renew the rail network, he said. This means that new stations or lines will open almost every year, so that by the early 2030s, Singapore’s MRT network density will match that of London and New York City. From 230km today, there will be 360km rail lines by this target date. From now till 2025: The rest of the Thomson-East Coast Line will open By 2026: The two ends of the Circle Line – Harbourfront and Marina Bay – will be connected, closing the loop By 2029: Construction of the Jurong Region Line will complete In the 2030s: The Cross Island Line will open progressively Mr Ong stressed that while the Ministry of Transport is taking steps to promote the adoption of electric vehicles among drivers, they are “at most a second-best solution” in creating a sustainable land transport system. He announced on Thursday that Singapore will stop all new diesel car and taxi registrations from 2025, by which time eight towns will have charging points for electric vehicles at all Housing and Development Board car parks. And, by 2030, all new car and taxi registrations must be of cleaner-energy models — including electric, hybrid and hydrogen fuel cell cars — to meet the country’s goal to phase out internal combustion engine vehicles by 2040.

(Bloomberg) — DBS Holdings Group Ltd. cut Chief Executive Officer Piyush Gupta’s total 2020 compensation by 24% after Singapore’s largest lender posted its first annual drop in profit for four years. The bank slashed Gupta’s bonus by 27%, resulting in a 24% decline in his overall compensation to S$9.2 million ($6.8 million) for the 2020 performance year, down from S$12.1 million a year earlier, DBS said in its annual report on Monday. The reduction reflects the “extremely challenging operating environment,” it said, as the global pandemic endured. DBS also cut the compensation of other senior bankers. Excluding Gupta’s pay, the median decline in total remuneration and variable pay of its management committee members for both 2019 and 2020 was 12%, and 17%, respectively, the report said. The Singapore-based bank isn’t alone in cutting salaries as global lenders tackle the impact of the coronavirus pandemic. Standard Chartered Plc’s Bill Winters saw his total pay slashed 29%, while Barclays Plc’s Jes Staley’s was reduced by about a third. DBS’s pay cuts follow the bank’s first annual earnings decline in four years as a contraction in interest income and a rise in provisions for potential soured loans curbed profitability. ‘Difficult Environment’ While commending Gupta’s ability to weather the economic slowdown and grow the bank’s franchise in India and China, DBS said the cut reflected “the difficult operating environment, general cutbacks across the bank and the reduction in the bank’s profits.” The bank’s senior management’s aggregated total remuneration last year was S$63.2 million, including the CEO. That was 14% lower than in 2019, it said. Gupta said the bank’s “organic” expenses for 2021 will be kept at 2019 levels even as the bank processes higher business volumes. Still, more businesses are also coming to DBS via its digital channels as more clients are turning to online banking during the pandemic, Gupta said. The lender is training its workforce to cope with the changes that come with digitalization, and has identified more than 7,200 employees to be given skills in areas including data and analytics, machine learning and artificial intelligence, he said. DBS’s headcount rose 16% to 33,002 in 2020 from a year earlier. That was partly due to its takeover of Lakshmi Vilas Bank Ltd. in India, which was completed in November. Excluding the Indian bank’s staff and insourcing, headcount grew 2%, it said last month.

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