choongyong.koh's clips tagged singapore

Overall food index up 4.3% over that in 2006

choongyong.koh — Wed, 28 Nov 2007 02:31:53 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Home > ST Forum > Story
Nov 27, 2007
Overall food index up 4.3% over that in 2006
MR RICHARD Seah's letter on the inflation rate of food prices ('5% inflation next year? Food already up 10- 20%'; ST, Nov 20) gives us the opportunity to explain how the Consumer Price Index (CPI) is constructed and how food prices are measured. The CPI measures the change in price over time of a fixed basket of goods and services that are consumed by households. In Singapore, the CPI basket comprises seven main groups, namely, Food, Housing, Clothing & Footwear, Transport & Communication, Education & Stationery, Health Care, and Recreation & Others. The relative importance of these groups in the CPI basket is based on a detailed analysis of the consumption patterns of some 5,400 households covered in the Household Expenditure Survey (HES). The HES is conducted on a regular basis to take into account changes in consumption patterns over time. This basic methodology is in line with international convention. Food has the highest weight in our CPI basket, at 23 per cent. This means that, on average, a household spends 23 cents out of every dollar on food. Cooked food carries a heavier weight of 13 per cent, compared to 10 per cent for non-cooked food, given the 'Singaporean habit of eating out', as noted by Mr Seah. It is important to note that the increase in the overall food price index in the CPI represents the average of price movements across various food items and outlets. So while prices of some food items have increased by as much as 10 to 20 per cent at some outlets, there are also items or outlets where prices increased by much less or not at all. For example, while the price of fresh chicken was 14 per cent higher in October 2007, compared to October 2006, the price of fresh pork went up by just 0.8 per cent during the same period. Likewise, while prices at some hawker stalls had increased substantially, average hawker food prices were up by 2.8 per cent in October 2007, compared to October 2006. Taking into consideration the price movements of all these various items, the overall food index increased by 4.3 per cent in October 2007, compared to a year earlier. Foo-Wu Wen Chee (Mrs) Deputy Director (Consumer Price Index) Department of Statistics

MPs should tell it like it is when writing memoirs

choongyong.koh — Wed, 18 Jul 2007 19:27:00 -0000

Clipped by choongyong.koh

July 17, 2007

MPs should tell it like it is when writing memoirs

I READ ST, July 11th 2007, the views of Dr Chiang Hai Ding and former PAP MPs on their writing of their memoirs.

They would refresh their memories if they read up old written materials, speeches, press cuttings, notes, letters and photos. It is worth the effort.

MPs are important actors in determining Singapore's history. I encourage all MPs, including those who opposed the PAP, to give their accounts of the past.

They will give a multi-dimensional view of past events and provide richness and texture to the story.

World War II accounts, whether in books, on TV or on film, that draw on sources from all parties, the Allies, Germans, Russians and Japanese, make fascinating reading because they give a three-dimensional depth to past events.

When writing memoirs, you are talking to posterity. Among them will be historians who will check what you write against the accounts of others. So do not shade the past.

I read Chin Peng's memoirs in English and the Plen's (Fang Chuang Pi) unfinished memoirs in Chinese.

I respected Chin Peng, so I asked to see him when he was in Singapore.

However, the Plen was a disappointment. He avoided the facts. Chin Peng did not.

Lee Kuan Yew

Minister Mentor

Power supply restored after blackout, Senoko Power could face fines

choongyong.koh — Thu, 21 Dec 2006 18:12:46 -0000

Clipped by choongyong.koh

Photos

1 of 3

A hawker tends to her stall during a power outage

State-funded pension means higher taxes

choongyong.koh — Thu, 28 Sep 2006 10:08:09 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Sep 28, 2006

State-funded pension means higher taxes

PLEASE refer to the letter 'Retiree backs call for pension for elderly' (ST, Sept 25) by Mr Retnam Thillainathan, and 'Give elderly a pension, says ex-NMP' (ST, Sept 21), by Dr Kanwaljit Soin, who proposed a state-funded pension scheme for the elderly.

A state-funded pension system will require raising taxes for younger working adults and the public to pay for the pensions of retirees.

Taxing the young to pay for the old will become unsustainable with our low birth rates and ageing population.

Presently, one in 12 Singaporeans is over 65 years but this will increase to one in five by the year 2030.

Our CPF system is more robust and sustainable because it requires each generation to fully fund its own retirement needs. It is also fair because each person draws out what he has contributed over his working life.

To assist older Singaporeans to improve their retirement adequacy, the Government periodically tops up their CPF accounts, whenever the economy does well. Since 1996, we have given out $4.7 billion in CPF top-ups.

In addition, the Government also encourages families to look after their older members. Through the Maintenance of Parents Act, we ensure that children honour their responsibility to take care of their parents.

For those in need, various public assistance schemes and Medifund also provide financial assistance.

Jean Tan (Ms)
Press Secretary to Minister for Manpower

Liquefied natural gas is at best an interim measure

choongyong.koh — Wed, 06 Sep 2006 03:26:14 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Sep 6, 2006

Liquefied natural gas is at best an interim measure

I REFER to Ms Choo Wai Chan's letter, 'Alternative fuels won't fully replace fossil ones' (ST, Sept 1). Complementing PNG (piped natural gas) with LNG (liquefied natural gas) is not that much of a diversification. It is the path of least resistance since the existing power plants do not need to be replaced.

It is not a diversification because it is the same fossil fuel, just more expensive, due to the need to freeze it before shipping it and also having to re-gasify it before it can be used. The cost of the LNG infrastructure - terminal and tankers - is in the billion-dollar range, and guess who foots the bill eventually? Besides, we still have to contend with resource depletion. With LNG, we may 'run away' from local resource depletion in Malaysia and Indonesia but nobody can run away from global depletion. The gamble the Government is taking is that global depletion arrives later than local depletion. As for global depletion, the figure of 40 years of reserves left is often quoted but that is misleading. It implies that problems will only occur in the far future but that may not be true. The problem is not running out, the problem is hitting the halfway point, known as Peak Oil (and Peak Gas), where global production starts to decline and can no longer keep up with demand, causing prices to rise dramatically. According to geologist Dr Colin Campbell of the Association for the Study of Peak Oil and Gas, the peak date is due to arrive by 2010. That is two years before Singapore's LNG terminal is even scheduled to start operations.

The Singapore Government deserves credit for pushing ahead with the LNG initiative, though it is hardly an original idea - many countries are also setting up LNG terminals. America is planning 40 terminals. Even Mexico, home to the world's second largest oilfield, has started importing LNG. This tells us something about the sheer level of demand that will be coming up for LNG in the coming years. Singapore is joining a race that has already started.

LNG will be traded just like crude oil is today. Qatar is setting up an energy trading exchange. The natural gas will, quite naturally, go to the highest bidders. What is quite certain is, at the end point, it is not going to get any cheaper. There is nothing cheap about LNG. It is at best an interim measure while society considers other solutions. Although the other alternatives for base-load electrical power - nuclear, coal, geothermal, ocean tidal and thermal - are fraught with all kinds of environmental, political and technical risks, they need to be considered well before the global peak date arrives. While making preparations for the LNG terminal, the Government should also take a close look into alternative energy sources - while there is still time.

Low Ee Mien

Oldest sewers to get free PUB checks for leaks at year end

choongyong.koh — Tue, 05 Sep 2006 02:50:10 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Oldest sewers to get free PUB checks for leaks at year end

If there's leakage, homes and businesses will get help with repair bill

By Meng Yew Choong
Aug 29, 2006
The Straits Times

A FEW hundred kilometres of the oldest sewers running from homes and businesses into the national sewage network will get a free check for leaks at the end of this year.

These waste pipes, some nearing 50 years old, run under the oldest parts of Singapore - around the Singapore River, Kallang River, Geylang River and the Rochor and Stamford canals.

If leaks are found, these homes and businesses will get some help from the Public Utilities Board (PUB) with the repair bill.

The inspection is aimed at identifying sewers that might be leaking their contents into land within the 100-sq-km Marina catchment.

Unlike Singapore's other water catchment areas in the suburbs, the Marina catchment and the Marina Reservoir will be sited in a highly urbanised area.

If sewage does not stay within the pipe network, it will contaminate the water in the new reservoir, which will be operational in 2008. Dangerous microbes aside, sewage also contains unwanted chemicals that will make the water more difficult - and costlier - to treat.

Because such sewer checks for private homes and businesses have not been done before, the PUB will run a public education programme to prepare affected residents and businesses for the exercise. Mailers will be sent out and dialogues with grassroots leaders will begin next month.

If leaks are found in the sewers, the PUB will help owners with part of the repair cost.

Fixing a leak could cost $200, but the final bill will depend on the amount of work needed, said Mr Tan Yok Gin, PUB's director for policy and planning.

A typical inspection will take an hour. PUB inspectors will insert a tiny video camera into the sewer, so no hacking or digging will be necessary.

The PUB assures home and business owners that they can carry on their activities uninterrupted.

The Minister for the Environment and Water Resources Yaacob Ibrahim, who was at the completion ceremony of the Deep Tunnel Sewerage System pumping station at Changi East yesterday, noted that the Government has put about $270 million into repairing 790km of public sewers over the last 10 years.

Another $153 million has been set aside for checks on 300km of public sewer pipes in the Marina catchment in the coming years, he said.

Private sewers account for half of the total sewage network measuring 3,400km.

mengyc@sph.com.sg

In S'pore's countryside, a buzz is brewing

choongyong.koh — Tue, 05 Sep 2006 02:37:34 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

The Straits Times 25 Aug 06
In S'pore's countryside, a buzz is brewing
by Tan Hui Yee

LAWYER Kertar Singh has defended white collar criminals, a rapist and drug offenders in court, but could face his biggest challenge yet later this year in a showdown of a different sort.

He could he squaring off with would-be entrepreneurs over new parcels of Kranji farmland to be up for tender soon. The three plots, ranging from 1.2ha to 5ha each, will be the first released by the Government since it relaxed guidelines, allowing farms to develop recreational and commercial facilities.

It has been three years since the Government made new farmland available. Within limits, the eventual owners of the three plots can combine farming with farmstays, spas, art studios and even corporate retreats, said the Singapore Land Authority. Bidders can submit other ideas too.

This promises to generate more buzz in the Kranji area, which increased in popularity as a leisure spot after a group of farmers there banded together last year to promote it.

Mr Singh, 58, is all enthused and has his eye on one of the plots. He wants to set up a farmhouse with goats, rabbits, chickens and ducks, and wants children to visit and become acquainted with nature. It may have an eatery too, serving organic produce for the health-conscious. He has gathered four like-minded friends to join him in the project.

'We were kampung boys. We want to go back to kampung life,' said the former policeman, who grew up in Kampung Soopoo in the Kallang area. He got the idea to start a farm while on a family trip to India about 20 years ago, when he observed his only son's excitement at seeing a hen laying eggs. 'I thought, hey, our children are not so close to nature. They don't know how eggs hatch,' he said.

Before his farm dream comes true, however, Mr Singh and his partners will have to fend off competition. A handful of non-farmers also want to run farming-cum-recreational outfits in this rustic north-western corner of Singapore.

They include businessman Jack Chin, 39, who owns several food outlets and is keen to start an Australian-style eatery set in farm surroundings.

Another, Mr K.C. Tan, 33, is a manager in an engineering firm and wants to expand his arowana-breeding sideline. Mr Tan, who used to live on a pig farm in Lim Chu Kang, wants to breed lobsters and, maybe, have a seafood restaurant too. They were partly inspired by recent developments in this 860ha area, which is home to 114 farms.

In January last year, the Government relaxed guidelines, allowing farms to provide guest accommodation, visitor centres, cafes and retail outlets. At about the same time, nine farms and a pottery were registered as the Kranji Countryside Association.

Its high-profile carnivals during the Chinese New Year and Christmas periods attracted thousands of visitors, many of whom were unaware that Singapore had countryside.

The association, which added two more members recently, worked at making the countryside more accessible to those without cars. It lobbied bus operator SMRT Corporation to extended its bus service 925 to include some farm stops. The service, which previously ran past the Sungei Buloh Wetland Reserve on Sundays and public holidays, began stopping at farms from the middle of last year.

Still, visiting the farms on weekdays remained tough. So the farmers pitched in to start an hourly bus service from Kranji MRT Station to nine farms in the area. The Kranji Express charges adults $2 for a round-trip.

So far, those who venture to the area are mostly retirees, families and the occasional tourist. Schools and government agencies also organise trips there.

Soon, the Land Transport Authority says, direction signs to the Kranji Countryside will be put up along major roads near the area. 'Kranji Countryside' will also appear as a place name in street directories.

For farmer Kenny Eng, 32, secretary of the association, it has been a long journey. His family-run landscaping company, the Nyee Phoe Group, set up a bistro this year, the second one in the area after organic farm Bollywood Veggies started its outlet, Poison Ivy. Nyee Phoe has also laid the groundwork for the area's first kampung-style chalets, expected to be up by next year.

The three new farmland plots could add competition, but Mr Eng says the fact that the authorities are allowing them for farming and recreational facilities proves the enormous potential in Singapore's countryside.

'We've done quite a fair bit to convince people to come here, to show them that it's not a scary place. The dream is becoming a reality,' he told The Straits Times.

But the farmers have to contend with Singaporeans who expect city amenities in the countryside, and complain when it is more rustic than they would like.

As bus driver Larry Lim - de facto guide to those who hop onto the Kranji Express - puts it: 'Some people come here and say there is nothing to see. They also don't like to wait around. But you are not supposed to rush through it.'

Visitors can learn about the life cycle of bullfrogs, watch goats being milked, pick up indoor landscaping items, and buy organic fruit and vegetables direct from the growers. Most of the farms are open from 9am to 5pm, and are busiest at the weekend.

Mr Eng hopes those who visit will buy farm produce, because the countryside needs their support. 'Come here to buy, come here to shop, and don't treat us like Bishan Park,' he said. 'Don't just come here, throw rubbish, use the toilet, and expect us to clean up after you.'

The growing interest in the countryside has even led people like Ms Karen Goh, 27, to do a stint working on a farm. 'I thought it would be nice to work in a different place, and it's rare to get this opportunity in Singapore,' said the former teacher, who spent a week toiling at Bollywood Veggies, which is run by former chief of Netball Singapore, Mrs Ivy Singh-Lim.

'I've seen dragonflies, which I haven't seen for a long time. And the different kinds of vegetables... I didn't know they came from plants which look like that.'

Getting there: Visit www.kranjicountryside.com for more details of bus schedule and opening hours of individual farms.

Indonesian V-P Confident Problems Of SEZs Can Be Overcome

choongyong.koh — Tue, 05 Sep 2006 02:35:24 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Straits Times (26 August 2006) - Indonesian V-P Confident Problems Of SEZs Can Be Overcome

Aug 26, 2006
Indonesian V-P Confident Problems Of SEZs Can Be Overcome
Jusuf Kalla pledges to clear roadblocks standing in the way of Batam's growth
By Indonesia Correspondent, Salim Osman
Straits Times

JAKARTA - INDONESIA'S Vice-President Jusuf Kalla has expressed confidence that the problems dogging the Riau Islands Special Economic Zones (SEZs) can be overcome.

Mr Jusuf was speaking on Thursday after a trip to Batam, an island in the Riau archipelago, and a meeting with Singapore's Minister Mentor Lee Kuan Yew at the Hang Nadim airport.

He acknowledged that investors had left the island lately because of management problems and pledged to clear all the roadblocks that stood in the way of the island's growth.

'I am optimistic that it can be revived,' he added.

Mr Lee had said that he believed the trend could be reversed in three years if all were determined to fix problems such as corruption and bureaucratic delays.

The resolve to overcome the SEZ problems received wide publicity in the Indonesian media yesterday.

A Media Indonesia report had the headline: 'Kalla-Lee agree on boosting investment climate in Batam'.

It carried a photograph of Mr Lee and Mr Jusuf on its front page and the report included Mr Lee's remarks on some of the problems related to immigration, tax, and customs and excise duties.

Mr Lee was quoted as saying that Indonesia was a large country and faced a range of problems that had hindered the growth of Batam.

It added that he had urged all sides to cooperate to solve the problems in Batam.

News of the meeting was also carried by Kompas, which reported Mr Lee as saying that Batam was not progressing as rapidly as in the days when it was developed jointly by the Singapore Government and the Suharto administration.

'Today, there are so many problems that hinder its growth as a Special Economic Zone. Because of this, more needs to be done to spur growth,' Mr Lee was quoted as saying.

Both newspapers also said Mr Kalla agreed with Mr Lee on the problems faced by Batam and the need to rejuvenate SEZs.

Evening newspaper Suara Pembaruan carried a short report on the meeting, quoting the Minister Mentor as saying that the problems faced by Batam had been discussed.

Media Indonesia's online edition carried remarks posted by readers, many of them positive, on the involvement of Singapore in the project to develop Batam as an SEZ.

For instance, a posting by Dodo urged readers to rid themselves of prejudices against Singapore. The writer said forging close ties with Singapore would help Indonesia make its way up the ladder to achieve the status of becoming a developed country.

Singapore and Indonesia inked a new economic agreement in June to revitalise the Riau islands of Batam, Bintan and Karimun.

Under the pact, the two nations will set up SEZs to draw more investment and boost economic growth in the area.

It could see a smoother flow of goods between Singapore and the Riau islands, and make it easier for businessmen to invest by simplifying procedures for work permits and visas.

There will also be an investment service authority to help businessmen deal with licences and documentation.

The seven areas targeted to draw investors are investment, finance and banking, taxation, customs and excise, immigration, manpower and developing capability.

The two countries also hope the SEZs could be a model for similar projects to be started elsewhere in Indonesia.

Mr Lee said on Thursday that SEZs could be replicated across Indonesia.

Riau SEZs Have Problems, But They Can Be Solved: MM

choongyong.koh — Tue, 05 Sep 2006 02:33:00 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Straits Times (25 August 2006) - Riau SEZs Have Problems, But They Can Be Solved: MM

Aug 25, 2006
Riau SEZs Have Problems, But They Can Be Solved: MM
He is optimistic that with the right attention, zones can be a success
By Peh Shing Huei
Straits Times

BATAM - INVESTORS have been leaving Batam, but Minister Mentor Lee Kuan Yew is optimistic that problems in the Riau Islands Special Economic Zones (SEZs) have a chance at being solved.

With the right attention, the zones can be a success. He gave this assessment after a half-day trip to Batam and a 'four-eye' meeting with Indonesian Vice-President Jusuf Kalla yesterday.

Mr Lee heard the problems first-hand when he toured the Batamindo Industrial Park, which is managed by SembCorp Park Holdings.

Among other things, unions have rocked industrial relations, pushing wages up by 29 per cent last year.

Corruption from officials is more prevalent and investors are also increasingly concerned about terrorist threats.

Mr James Kong, the chief executive officer of eye-care company CIBA Vision, a tenant at the park, recounted to Mr Lee one example of the problems the company faced: Tax officials pored over minute details and made things difficult to pressure managers into giving kickbacks.

All these difficulties combined to push the park's tenant numbers from a peak of 96 in 2001 to 83 today. The number of workers employed there has also shrunk as a result, from 85,000 to 65,000.

SembCorp Park Holdings executive chairman Low Sin Leng told Mr Lee that investors, especially the Japanese, were migrating to other countries, with Vietnam a popular destination.

But Mr Lee said he believed the trend could be reversed in three years if all onboard were determined to fix the problems.

After his meeting of more than an hour with Mr Jusuf yesterday, he expressed hope that Jakarta could solve the SEZs' woes.

'If he gives it attention, if he is hands on, I would say there's a chance that it could succeed,' said Mr Lee, referring to Mr Jusuf. 'But if it's just left to the bureaucracy, we may try our best, but it will be defeated by the system.'

He added that Mr Jusuf 'showed a certain willingness to spend time and effort to oversee the problems and get it right'.

The problems, he said, began when increased regionalisation in Indonesia saw governors and mayors asserting themselves, as they are now elected instead of being appointed by Jakarta.

He stressed that the problems could only be ironed out by the Indonesians. 'We will help them the best way we can, but some things on the ground we cannot fix, they have to fix it,' he said.

Referring to the pressures tenants faced from officials, such as harassment over tax and other paperwork, he said investors did not have to put up with that and could go elsewhere.

Singapore and Indonesia inked a new economic agreement in June to revitalise the Riau islands of Batam, Bintan and Karimun.

Under the pact, the two nations will set up SEZs to draw more investment and boost economic growth in the area.

It could see a smoother flow of goods between Singapore and the Riau islands, and make it easier for businessmen to invest by simplifying procedures for work permits and visas.

There will also be an investment service authority to help businessmen deal with licences and documentation.

The seven areas targeted to draw investors are in investment, finance and banking, taxation, customs and excise, immigration, manpower and developing capability.

Prime Minister Lee Hsien Loong, who witnessed the signing of the pact with Indonesian President Susilo Bambang Yudhoyono, said at the time that he hoped the SEZs could refresh earlier efforts by Singapore and Jakarta to draw investment to the Riau province.

While these had created more than 200,000 jobs from 1990 to 2000, investment had tapered off in recent years, PM Lee had noted.

The two countries also hope the SEZs could be a model for similar projects to be started elsewhere in Indonesia.

Yesterday, as MM Lee emerged from his meeting with Mr Jusuf, he told the waiting media that the SEZs may be replicated across Indonesia.

He cited China's experience. 'Deng Xiaoping started the special economic zones along the coast, 12 of them, succeeded, expanded, duplicated and now almost the whole country is a special economic zone,' he said.

'All in the space of 30 years. So it can be done, if you decide to do it.'

Of Crazy Horse And Ministry Of Sound

choongyong.koh — Tue, 05 Sep 2006 02:13:57 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Straits Times (19 August 2006) - Of Crazy Horse And Ministry Of Sound

Aug 19, 2006
Of Crazy Horse And Ministry Of Sound
Singapore has become a brand name among some countries but there is a constant need to find more ways for Singaporeans to make a living. In his annual Tanjong Pagar National Day dinner speech last night, Minister Mentor Lee Kuan Yew spoke about some of these ways
Straits Times

ECONOMIC conditions are favourable for good growth in Singapore in the next five years. Japan is recovering; Korea, Taiwan, Hong Kong, Singapore are doing well; China and India are growing fastest and lifting up the whole region.

But there are dangerous pitfalls:

(1) Price of oil that could spike to over $120 if the dispute over Iran's nuclear processing plants leads to sanctions and conflict;

(2) or if the war in Lebanon reignites or triggers off unforeseen consequences that lead to further instability in the Middle East.

This situation can become a crisis. But I believe this crisis is containable because all major powers - US, EU, Russia and China - know that what is at stake is the world economy to which they all are interlinked in a globalised world. They all share an interest in avoiding a crisis as, otherwise, oil prices will go up sky-high and there will be a world recession.

However, even if there is a world recession, after a while there will be a new world equilibrium. And if Singapore remains nimble, adjusts and stays competitive, we can forge ahead. Our society is based on excellence, with the most capable people in charge of the most important sectors of the economy and our government, and our system of government is flexible to respond quickly in a crisis.

Singapore is now a brand name. Singaporeans are sought after in the oil states of the Gulf because they are known to be capable, honest and can work out proper systems. They like the Singapore system and want to adopt parts of it.

Liaoning province wants Singapore to do a project in Changxin island, 250 sq km in area, to kick-start the development over a 2,000km coastline of the Liaoning peninsula.

The Russians have invited Changi Airport consulting arm, Changi Airport International (CAI), to be their consultants to upgrade and administer their main airport, Sheremetyevo. Russia wants us to do a Special Economic Zone (SEZ), so we are testing our ability to do the job in two SEZs for six months, one in Tatarstan and the other in Tomsk in Central Russia. We do not know the language, culture or system; the distance from Singapore makes logistical support much more difficult than in Suzhou or Bangalore; and Russia has a severe climate. The Gulf States want us as partners in many ventures to train and produce institutions of integrity and quality for their countries. They want to attain what we have achieved for themselves, with our collaboration.

We have to work out more ways to make a living in a small island of 700 sq km with no natural resources. We have to seek out new activities to increase the incomes of Singaporeans.

From our earliest days we set out to create a more fair and equal society. We knew we could never achieve complete equality. Human beings are not born equal. They are highly competitive. Systems like Soviet and Chinese communism have failed because they try to equalise benefits. Then nobody works hard enough, but everyone wants to get as much as, if not more than, the other person. Even welfare socialism has had negative effects on the economy of UK and EU as the workforce loses the incentives to excel and be better rewarded.

From the 1960s to 1990s we created a more equal and fair society by giving equal opportunities in education, health and housing. And we gave substantial assets to every citizen by selling HDB homes at heavily subsidised prices. Over and above this, low-income households buying HDB homes get an Additional CPF Housing Grant of up to $20,000 to help them become home owners. Now we have 95 per cent home ownership. For the older flats, we add value by our Main Upgrading Programmes, the Interim Upgrading Programmes and the Lift Upgrading Programmes (LUP). The LUPs will be completed around 2014. Beyond that, we will continue with programmes of regeneration to maintain and enhance the value of everyone's HDB homes.

With surpluses we will do more Progress Packages every now and again. This will give to older Singaporeans something for their Medisave CPF accounts and to lower-income Singaporeans more workfare bonuses to encourage them to work and improve their own lives.

We have to concentrate on three basic areas to develop our full potential - education, health and housing. The can-do spirit has got us where we are. We can rise to the next stage by riding on the rise of China and India that is making East Asia the fastest growing region of the world.

We have to educate our young to higher standards so that they can move up the added-value chain, doing higher end and more difficult jobs. We will retain the higher end of the manufacturing sector which we are doing by investing in R&D so that we remain competitive for the final stages of manufacturing high-value products. Investments in the bio-medical and pharmaceutical sectors, petrochemical industries have been good for GDP and jobs. But we cannot stop the convergence of wages worldwide following globalisation. Low-end wages are kept down by large numbers of low-wage Chinese and Indians and high-end wages go up because they are needed as China and India are in short supply. This is a worldwide problem: the lower income group not getting as high increases as the high earners.

We are investing in new schools, ITEs, polys and universities to develop a wide range of talents in music, theatre and the arts, sports and in technical skills. The world market determines what a man or woman can earn. We cannot raise protectionist walls, as some European countries are trying to do, to their disadvantage.

Jobs in services cannot be migrated so easily as they cannot be outsourced. We must increase the service sector. To do this we need more buzz in our city. We need a more lively night scene. At Clarke Quay by the river, people wine, dine and drink till 4 or 5 in the morning at weekends. Our streets are more lively. Orchard Road and the Singapore River have improved. In the next 10 years the Marina will blossom. Entertainment outlets like the Ministry of Sound are drawing thousands of Singaporeans and tourists every night. When the Sands Integrated Resort at the Marina and another at Sentosa come up by 2009 and 2010, live shows like 'Crazy Horse' from Paris, now at Clarke Quay, will get a boost.

In the next few years there will be more jobs for our school leavers and retrained older workers in the IRs and tourism. We will also increase our international customers for education and medical services.

Our system has continually adjusted to make possible Singapore's economic progress, accompanied by ever-higher educational and cultural levels of our people.

Alternative fuels won't fully replace fossil ones

choongyong.koh — Tue, 05 Sep 2006 02:10:39 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Sep 1, 2006

Alternative fuels won't fully replace fossil ones

MR NG Weng Hoong's commentary, 'S'pore needs to rethink energy policy' (ST, Aug 26), suggested a switch to alternative energy, or reducing or at least maintaining our energy demand in order to reduce Singapore's reliance on fossil fuels for our energy supply.

There is consensus that fossil fuels - oil, natural gas and coal - will continue to be the dominant fuels that will meet the bulk of the world's energy needs.

They are more economical than many alternative energy sources, and there are adequate reserves to meet global energy demand for at least the next 40 years (longer for coal).

The US Energy Information Administration has projected that fossil fuels will still account for some 86 per cent of total world energy demand in 2030.

Although renewable energy sources are becoming more economically competitive, their share of total demand is projected to increase by only one percentage point to 9 per cent in 2030.

In Singapore, about 80 per cent of our electricity today is generated from natural gas. This is the cleanest and most energy-efficient option, compared to oil or coal.

We have limited renewable alternatives. Due to our geography, we are unable to tap geothermal or hydro sources. Our wind speed and tidal differences are also not high enough for significant electricity generation.

Electricity from photovoltaic technology still costs more than three times the average Singapore electricity pool price.

Besides, even if we covered most of the available rooftop space in Singapore with solar panels, we would be able to meet only about 3-4 per cent of Singapore's annual electricity consumption, using today's solar technology.

To meet the energy needs of a growing population and economy, we thus have little choice but to import more natural gas. The building of an LNG terminal will allow us to diversify our sources of gas supply and improve energy security.

At the same time, the Energy Market Authority will ensure that our electricity market stays open to alternative technologies as they arise and become viable for Singapore.

We agree with Mr Ng that we should look actively into energy conservation so that we keep demand growth down.

The Building and Construction Authority encourages the construction of energy-efficient buildings, by requiring air-conditioned buildings to comply with the Envelope Thermal Transfer Value. It also awards the Green Mark label to buildings which use energy and water efficiently.

The National Environment Agency has partnered the Singapore Environment Council to launch an Energy Labelling Scheme to educate consumers on efficient air-conditioners and refrigerators.

In addition, the Energy Efficiency Improvement Assistance Scheme helps companies to engage specialists to study their energy consumption and recommend measures to save energy.

Also, domestic consumers are alerted through their utility bills if their electricity consumption exceeds the national average.

Through such programmes, we hope that Singapore households and companies will do more to conserve energy.

Choo Wai Chan (Mrs)
Director
Corporate Communications
Energy Market Authority

S'pore Opts For LNG To Diversify Power Sources

choongyong.koh — Tue, 05 Sep 2006 02:08:43 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Straits Times (8 August 2006) - Singapore Opts For LNG To Diversify Power Sources

Aug 8, 2006
S'pore Opts For LNG To Diversify Power Sources
It will reduce over-reliance on piped natural gas from Indonesia and Malaysia
By Economics Correspondent, Erica Tay
Straits Times

POWER plants here will be plugged into a new, potentially cheaper source of fuel after a government decision announced yesterday to import liquefied natural gas (LNG) from 2012.

This will cut the nation's over-reliance on piped natural gas from Malaysia and Indonesia and will also help meet rising demand for electricity.

An overwhelming 80 per cent of Singapore's electricity is currently powered by piped gas from the two countries, and the rest by oil.

But in about six years' time, Singapore will have a three-million-tonne-a-year terminal costing an expected $800 million to receive shipments of LNG to be processed and sold to power plants.

This terminal will be able to process around one-third of the current level of piped gas imported into Singapore.

LNG is natural gas cooled to liquid form and delivered by tankers from source countries all over the world, including Australia and Qatar.

The new facility will turn LNG back into gaseous form for the power plants.

Two years ago, a disruption in the piped gas supply from Indonesia's West Natuna to Singapore caused a blackout affecting 300,000 homes here, prompting calls to consider LNG imports.

The decision to import LNG was announced by Trade and Industry Minister Lim Hng Kiang at an energy forum organised by industry watchdog, the Energy Market Authority (EMA). 'We need to diversify our energy sources to ensure that we are not over-reliant on a single source for our energy needs,' he said. 'As such, the Government has decided to import LNG to meet future rising demand for energy as our economy expands and our population increases.'

This decision follows a feasibility study by Tokyo Gas Engineering, lasting about a year, which found that LNG is significantly cheaper than piped gas when the price of crude oil is above US$40 a barrel - since the price of piped gas is more closely linked to crude prices.

Crude prices are nearly US$80 a barrel now, but whether LNG will be cheaper than piped gas will depend on factors such as LNG supplies at the time.

The Government said importing LNG is desirable firstly because it reduces Singapore's dependence on oil and piped gas. Secondly, many more countries produce LNG, including Russia, Yemen and Oman, which means Singapore would be less vulnerable to supply disruptions from any one source.

Third, LNG has a more stable price than piped gas as LNG contracts are locked in for very long periods. Piped gas prices tend to be mostly linked to fuel oil prices and are therefore more volatile.

Some time in the second half of next year, the EMA will invite prospective investors to bid to build and operate the LNG terminal.

The $800 million is the sum required to build a typical three-million-tonne facility, and may vary according to investors' plans, Mr Lim said.

'The intention is not for the Government to build the facility, but for the private sector to build, own and operate the facility.'

However, he does not rule out the possibility of the Government co-investing in the project, if needed. 'If the market feels a co-investment is needed from the Government, we will seriously look at it.'

To reassure potential investors, Mr Lim announced a moratorium on new gas import contracts until the LNG terminal's capacity is reached. 'What we are saying is that future demand for energy needs will come from LNG.'

Indonesia offers S'pore 3 sectors for investment

choongyong.koh — Tue, 05 Sep 2006 02:04:49 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Indonesia offers S'pore 3 sectors for investment

Date: 07/08/2006
Source: Straits Times
Author: Ken Kwek

VISITING Indonesian President Susilo Bambang Yudhoyono yesterday offered Singapore businesses opportunities in three key areas his country is keen to develop: infrastructure development, biofuels and special economic zones (SEZs).

Singapore can play a part as Indonesia undergoes serious reform to raise economic growth, he said during a lunch talk with businessmen, chaired by Singapore's Trade and Industry Minister Lim Hng Kiang.

The president, who is on a two-day working visit in Singapore, said Indonesia offered opportunities in infrastructure development, such as power, toll road systems and housing.

He invited Singapore's leaders and businessmen to attend an infrastructure summit in Jakarta in November to exchange ideas and seek investment opportunities.

The Indonesian leader also said Singapore could play a part in Indonesia's efforts to increase biofuel production. The Indonesian government recently announced plans to build eight biodiesel factories, to produce energy alternatives to fossil fuels, such as biodiesel from oil palm.

Dr Yudhoyono asked Singapore companies to invest in biofuel projects, adding that he was also looking at introducing new policies in the financial sector to encourage capital investment in certain areas.

As for the recent agreement between Indonesia and Singapore to set up SEZs on the islands of Batam, Bintan and Karimun, Dr Yudhoyono indicated that progress was underway. For example, the joint working groups and committees, comprising representatives from both countries, had met and were working on an 'action plan' to stimulate greater investment.

He added that he had already given 'clear directions' to his officials to streamline services for businesses, by reforming Indonesian government agencies such as the customs, tax and immigration offices in Batam.

The SEZ agreement was inked when Dr Yudhoyono and PM Lee last met in Batam on June 25.

Both leaders agreed to promote the islands' manufacturing potential, ease the flow of goods, manpower and funds, and train workers and administrators.

The SEZ was one of the issues that cropped up when the president and PM Lee had a 'four-eye' meeting before dinner. A statement from the Prime Minister's Office said the two leaders discussed bilateral issues. They affirmed the importance of making progress on the parallel negotiations for a series of agreements on an extradition treaty, defence cooperation and counter-terrorism cooperation. They also discussed international issues, including the situation in the Middle East and developments in Asean.

Dr Yudhoyono also met Minister Mentor Lee Kuan Yew in the evening.

During his visit here, the president took pains to assure the Singapore business community that Indonesia was serious about reform to improve the business climate and expand its economy.

The president, accompanied by his wife Kristiani Herawati and a delegation including Economic Coordinating Minister Boediono and Foreign Affairs Minister Hassan Wirajuda, leave for home today.

kenkwek@sph.com.sg

Senoko Power favours further opening up of electricity market

choongyong.koh — Mon, 04 Sep 2006 17:45:43 -0000

Clipped by choongyong.koh to Archive significant news I want to refer to

Photos

1 of 1

SINGAPORE : Allowing households and smaller businesses to choose their electricity supplier will be a key step in the liberalisation of the energy sector.

This is according to Senoko Power during an energy seminar on Wednesday.

Senoko said that its parent Temasek Holdings is still reviewing plans to sell the three power plants it owns.

According to earlier reports, Temasek Holdings is expected to make a decision about the sale of the three power companies - Senoko Power, PowerSeraya and Tuas Power - by the end of the year.

Senoko - the largest power company in Singapore - says the investment firm is still reviewing its options.

Roy Adair, President and CEO, Senoko Power, said: "Temasek is undertaking a review of the potential divestment of the gencos and that review is continuing. Unfortunately I can't tell you anymore than that at this stage. The timeline doesn't - it's business as usual for us."

The 3 power companies produce nearly 90 percent of Singapore's electricity.

And their sale has been on the agenda since 1999 as part of the effort to liberalise Singapore's electricity market.

At the energy seminar, Senoko Power says a further step to opening up the market is to let smaller businesses and regular household consumers choose their own suppliers.

Roy Adair said: "Full retail contestability is about the opening up of the electricity market to the last tranche of customers who are regarded as franchise customers at the moment. So we're very much in favour. We see this as part and parcel of the liberalisation of the market place and full retail contestability will give people in their homes - whether it be an HDB unit, a condominium or a landed property - it will give them the right to decide who their electricity supplier is."

For now, the gencos can only sell direct to industrial and commercial customers, or about 75 per cent of Singapore's electricity marketplace.

And Singapore Power is the only electricity distributor to some one million households here.

The Energy Market Authority is expected to decide by year-end on opening up the electricity market to more suppliers. - CNA/ch