Showing posts with label Singapore. Show all posts
Showing posts with label Singapore. Show all posts

Tuesday, October 25, 2022

Singapore targets net zero by 2050, eyes hydrogen power

SINGAPORE - Singapore announced Tuesday it aims to achieve carbon neutrality by 2050, giving a firm date for the first time, and will look at using hydrogen as a major power source.

The city-state targets for carbon emissions to peak in 2030 at 60 million tonnes, a reduction of five million tonnes from the previous goal, Deputy Prime Minister Lawrence Wong said.

The Southeast Asian nation also has plans to look at developing low carbon hydrogen as a major power supply in the long term.

"If technology continues to advance, we foresee that hydrogen can supply up to half of our power needs by 2050, alongside domestic renewable energy sources and electricity imports," Wong said at an industry conference.

He added that Singapore would experiment with key hydrogen technologies to see how it can be implemented on a large scale.

"We do not have the land for large solar or wind farms, or fast flowing rivers for hydro-electric power," said Wong, the country's prime minister in waiting.

Green hydrogen is in sharp focus as governments seek to slash carbon emissions amid global warming and to safeguard energy supplies hit by the invasion of Ukraine by oil and gas producer Russia.

But the "hydrogen economy" has not fully kicked into gear awaiting significant uptake from high-polluting sectors like steel and aviation.

"Many hydrogen technologies are still under development, and a global supply chain has yet to be established," the Singapore government said in a statement.

"Nevertheless, there has been strong interest internationally from the public and private sectors to accelerate the development," it added.

Prime Minister Lee Hsien Loong has said the low-lying island nation is especially vulnerable to rising sea levels and defending it from the threat is "existential".

Agence France-Presse

Saturday, April 23, 2022

Singapore to drop all COVID tests for fully vaccinated travelers

Singapore will drop all Covid-19 tests for fully vaccinated travellers while further easing domestic restrictions in an "important milestone" as it forges ahead with its plan to live with the virus.

Currently, those travelling to the city state are required to take a pre-departure test two days before arrival but this rule will be dropped from April 26.

"With this move, it will mean that fully vaccinated and well travellers will not require any tests to enter Singapore," the health ministry said in a statement on Friday.

Joy, free beer, parties: Singapore makes post-Covid shift, but many remain wary

Tourists coming into Singapore will also be allowed to pay for Moderna Covid-19 jabs.

Domestically, more restrictions will also be relaxed from next Tuesday - bringing the country almost back to the state of affairs before the pandemic.

Current limits capping social groups to 10 will be removed, all workers can return to the workplace, and safe distancing will no longer be required. The number of places people are required to use the "TraceTogether" contact-tracing application will also be slashed.

"Today is really a happy day that marks a very important milestone," health minister Ong Ye Kung said. "We know the danger is of course, not over, but we can all breathe easier now."

The city state, with one of the world's highest vaccination rates, has progressively relaxed its pandemic restrictions. The health ministry reported that the seven-day moving average of daily infections had fallen from 18,300 at its peak to under 3,100 in the past week. Hospitalisation numbers have also dipped to about 266.

Lawrence Wong, the country's finance minister and a co-chair of the virus task force, stressed that while the outdoor mask mandate had been lifted, it was still necessary to retain the measure for indoor settings.

"Mask wearing is effective and it will be one of the last few measures that we will do away with," he said.

Hong Kong to allow non-residents to fly into city from May 1

Just last month, Singapore took its most decisive step yet in reopening its borders by allowing all fully vaccinated travellers - from any country or region - to enter quarantine-free.

It also removed the requirement for on-arrival Covid-19 tests.

Authorities expect the move to boost air passenger volumes to at least 50 per cent of pre-pandemic levels. The civil aviation authority reported that numbers were at 31 per cent last week, with particularly strong traffic growth to and from Australia, Malaysia, Indonesia and Thailand.

Singapore's move to remove pre-departure testing will make travelling almost like it was during the pre-pandemic era. Other countries in Southeast Asia that rely heavily on tourism have also started revising their testing guidelines.

Thailand on Friday announced that it would replace its mandatory on-arrival PCR test, to a voluntary self-administered antigen swab.

Singapore aims to be Asia's busiest airport as Hong Kong delays easing travel curbs

Wong, who last week was given the nod by the ruling People's Action Party as the putative successor to Prime Minister Lee Hsien Loong, said that the easing of measures was a "well deserved breather after two very difficult years" of battling the pandemic.

"But let's always remember we are getting closer to the finish line, but the race is not over," he said.


Copyright (c) 2022. South China Morning Post Publishers Ltd. All rights reserved.


Thursday, April 21, 2022

Singapore to hang mentally disabled man next week, says family

SINGAPORE—A mentally disabled Malaysian man will be hanged in Singapore next week after losing a last-ditch appeal, his sister said Wednesday, despite an international outcry about his case. 

Nagaenthran K. Dharmalingam was arrested in 2009 for trafficking a small amount of heroin into the city-state, which has some of the world's toughest drugs laws, and handed a death sentence the following year.

But the plan to hang him sparked widespread criticism due to concerns about his intellectual disabilities, with the European Union and British billionaire Richard Branson among those condemning it.

After a years-long legal battle, the 34-year-old lost his final appeal last month, when judges rejected arguments that executing a man with mental disabilities contravenes international law.

His family has now been informed he will be executed on Wednesday next week, his sister Sarmila Dharmalingam told AFP. 

Family members, including his mother and three siblings, will travel to the city-state to see him beforehand, she said.

M. Ravi, a Singapore-based human rights lawyer assisting in the case, said the news of Nagaenthran's looming execution was "heartbreaking".

"The Singapore state will never be able to recover from the disgrace it's going to face internationally in hanging an intellectually disabled person," he said in a social media post.

Last month, the city-state conducted its first execution since 2019 when it hanged a drug trafficker, and fears are growing that several more people will be put to death in the coming months. 

As well as Nagaenthran, three other men convicted of drugs offenses have had their final appeals rejected. 

Nagaenthran was arrested at the age of 21 after a bundle of heroin weighing about 43 grams (one and a half ounces) -- equivalent to about three tablespoons -- was found strapped to his thigh as he sought to enter Singapore.

Supporters say he has an IQ of 69 -- a level recognized as a disability -- and was coerced into committing the crime.

Singapore maintains the death penalty for several offenses, including drug trafficking and murder, and insists it has helped to keep the city-state one of Asia's safest places.

Agence France-Presse

Tuesday, July 27, 2021

Starbucks to exit South Korea venture, sell stake to E-Mart, GIC

Starbucks Corp said on Monday it will exit any direct ownership in South Korea, its fifth-largest market, selling the 50 percent stake it owns in a joint venture to local partner E-Mart Inc and Singapore's sovereign wealth fund, GIC.

E-Mart, which currently owns 50 percent of Starbucks Coffee Korea, said it would acquire an additional 17.5 percent take that would be worth 474 billion won ($411.89 million).

That also suggests a $2.35 billion valuation for Starbucks Coffee Korea, Reuters calculations showed.

GIC will own the remaining 32.5 percent of the venture, Starbucks said.

The US coffee chain operates more than 1,500 stores across 78 cities in South Korea, where 2020 revenue rose 3.2 percent to 1.93 trillion won despite the COVID-19 pandemic.

"As a long-term investor, GIC is confident that Starbucks Coffee Korea will play an important role in setting retail coffee trends and further driving industry growth," said Choo Yong Cheen, GIC's chief investment officer of private equity.

-reuters-

Wednesday, December 9, 2020

Singapore 'cruise-to-nowhere' turns back after COVID-19 case aboard

SINGAPORE - A passenger aboard a Royal Caribbean 'cruise-to-nowhere' from Singapore has tested positive for COVID-19, forcing all guests to be quarantined in their cabins and the Quantum of the Seas ship to return to dock on Wednesday.

Singapore has been piloting the trips, which are open only to residents, make no stops and sail in waters just off the city-state. There were around 2,000 passengers aboard at the time who have all been confined to their rooms.

The global cruise industry has taken a major hit from the coronavirus pandemic, with some of the earliest big outbreaks found on cruise ships. In one case in February off the coast of Japan, passengers were stuck for weeks aboard the Diamond Princess with over 700 guests and crew infected.

"A guest was feeling unwell and tested positive for COVID-19...We are asking all guests to remain in their state rooms to prevent the spread of illness," the captain of the Quantum of the Seas told passengers over the tannoy in a video shared on social media.

"We kindly ask all guests with urgent medical or health situations like diabetes, heart disease etc to contact guest services," he said, adding that the ship had returned to Singapore a day before the end of its planned four-day sailing.

Confirming the positive test, Royal Caribbean said in a statement that all guests and crew who had close contact with the infected guest have subsequently tested negative for the virus.

Royal Caribbean's 'cruises-to-nowhere' from Singapore began last week, marking the firm's first sailing since it halted its global operations in March due to the pandemic.

Part of the precautions for the resumption of cruises in Singapore involves pre-departure testing and for guests to carry an electronic contact tracing device and to social distance at all times.

It was not immediately clear when the guests of the ship could disembark, the captain said in his message to guests.

-reuters-

Wednesday, December 2, 2020

Lab-grown meat to go on sale in Singapore in world first

SINGAPORE - Lab-grown chicken will soon be available in restaurants for the first time after winning the green light from Singapore regulators.

US start-up Eat Just said Wednesday that its meat, created from animal cells and produced in bioreactors, had been approved for sale in the city-state as an ingredient in chicken bites. 

It said in a statement the news marked a "breakthrough for the global food industry", as it seeks to find less environmentally harmful ways of producing meat. 

Meat consumption is projected to increase over 70 percent by 2050, according to Eat Just, and experts have frequently warned it is a key driver of climate change. 

"I'm sure that our regulatory approval for cultured meat will be the first of many in Singapore and in countries around the globe," said Josh Tetrick, co-founder and CEO of Eat Just. 

"Working in partnership with the broader agriculture sector and forward-thinking policymakers, companies like ours can help meet the increased demand for animal protein as our population climbs to 9.7 billion by 2050."

The company said it had conducted over 20 production runs in 1,200 liter bioreactors, and checks on safety and quality showed its "cultured" product -- the term for meat grown in labs from animal cells -- met food standards. 

The meat was approved by the Singapore Food Agency, the city-state's regulator, after an extensive safety review, Eat Just said. 

Agence France-Presse

Monday, October 5, 2020

Singaporean 'ant-repreneur' sells tiny six-legged pets

SINGAPORE - Ants scurry around in transparent boxes stacked outside a Singaporean store that is tapping into an unlikely but growing local trend of keeping the six-legged creatures as pets.

John Ye says he became fascinated with the "altruistic, compassionate" creepy-crawlies after receiving some as a gift from his brother-in-law.

The 41-year-old eventually ditched a job in electronics distribution to open "Just Ants" in January and cater to fellow enthusiasts.

"I wish to have a place where people can gather and share insights, and share their ant-keeping journey," Ye told AFP. 

The shop sells ant farms along with specialist equipment, including mini handheld vacuums for catching the insects, tiny feeding dishes and mealworms used as feed.

It was forced to close for a period due to a coronavirus lockdown earlier this year but has reopened since restrictions were eased, and business is picking up.

It stocks 30 to 40 species, sourced from ant-keeper friends or collected by Ye and his team around Singapore. 

Catching the creatures is no easy task. It is usually only possible during so-called "nuptial flights" -- when new queens and winged male ants take to the air in the hope of finding a mate.

PETS OR PESTS?

The queen ants are then placed in test tubes or small tanks, where they give birth to a colony of worker ants if they have mated.

Ye's personal collection includes tens of thousands of marauder ants, a species of the creature commonly found across Asia, housed in a large box. 

The number of ant aficionados in Singapore is small but growing, according to Ye -- a Facebook group where keepers exchange advice and information has nearly 4,000 members.

But Ye knows he has his work cut out to convince people in Singapore, where ant-keeping is rare, that the creatures are pets and not pests.

Most Singaporeans believe "you should actually not keep ants because ants... are poisonous, they are dirty, disgusting, they carry diseases", he conceded.

"We always fear something that we don't understand."

Beginner ant-keeper Wei Sern Lim visited the shop to buy a box of food and a new home for his colony.

"It's nicer to see the products and a lot more convenient just to have a physical shop," the 30-year-old told AFP. 

Others simply turned up to see whether such a shop really existed. 

"I'm very tickled, they are actually selling ants as pets -- it's totally unheard of," said visitor Michelle Serio.

Agence France-Presse

Tuesday, August 11, 2020

Singapore Olympic champion Schooling gets national service delay


Singapore's Olympic swimming champion Joseph Schooling was handed a fresh national service deferment on Tuesday, allowing him to compete in next year's postponed Tokyo Games.

The city-state requires all male citizens and permanent residents aged 18 to serve two years in the military, the police or emergency services.

But Schooling was allowed to defer national service in 2014 to train for Rio 2016, where he famously beat his idol Michael Phelps to win the 100 metres butterfly -- Singapore's first and only Olympic gold medal.

The 25-year-old was given another reprieve to train for the 2020 Tokyo Olympics, but the Games were moved to next year because of the coronavirus pandemic.

The defence ministry said it "will grant extensions of deferment" for Schooling and another Tokyo-bound Singaporean swimmer, Quah Zheng Wen, "to train for and compete in the Olympic Games".

Both, however, will be scheduled for enlistment should the postponed Games be cancelled, the ministry said.

"Deferment may be granted to exceptional sportsmen who are assessed to be potential medal winners for Singapore at top-tier international competitions like the Olympic Games," a ministry statement said.

"Applicants will have to show why deferment is necessary for them to compete successfully at these competitions and bring national pride to Singapore."

It said Schooling and Quah have met the criteria and have committed to be focused in their preparations.

In 2018, the defence ministry refused an application by Singaporean footballer Ben Davis to defer national service so he could play in the English Premier League, saying he did not meet the criteria.

Davis signed a deal with Premier League side Fulham anyway, and could now face jail for missing his national service if he returns to Singapore. 

Schooling faces a tough fight to repeat his 2016 success -- he was criticised for being out of shape at last year's Southeast Asian Games in the Philippines, where he won only one individual gold medal.

Agence France-Presse

Monday, June 8, 2020

Lingerie thief jailed for breaching Singapore lockdown


A serial underwear thief was sentenced to nearly six months in jail Monday for breaching Singapore's strict coronavirus lockdown to sneak into a backyard and steal women's lingerie. 

Lee Chee Kin was on bail on similar charges when he snuck out of home last month and climbed into a backyard on the hunt for more underwear. 

The 39-year-old had stolen underwear from homes on at least 30 occasions since 2018, according to court documents, and police found more than 100 bras during a raid on his home last year.

He admitted last month to breaking lockdown rules by leaving his residence without good reason, and failing to wear a mask outside. 

He also pleaded guilty to theft and criminal trespass, and was sentenced to 23 weeks in jail.

Lee's lawyer told the court that the former part-time actor was a "late bloomer".

A prosecutor previously told the court that Lee "would select bras and panties to steal based on their appearance", and that he used them "for his own sexual gratification." 

Singapore authorities imposed a partial lockdown in early April, with schools and most workplaces told to close, and people only allowed to leave home for essential purposes.

Agence France-Presse

Wednesday, June 3, 2020

Singapore minister sheepishly admits cotton does not come from sheep


SINGAPORE - A Singaporean minister has sheepishly admitted to saying that cotton came from animals rather than plants in a slip-up during an interview that triggered bleats of mockery online.

Trade and Industry Minister Chan Chun Sing made the error in a video interview on Saturday while attempting to explain tiny Singapore's reliance on foreign trade. 

He gave face masks -- which are widely used in the city-state to fight the spread of the coronavirus -- as an example, suggesting there were not many components that Singapore could produce itself. 

"(We) don't have too many sheeps in Singapore to produce cotton," he said. 

Internet users quickly lined up lambast him over the mistake. 

"Baba black sheep have you any wool? Simple nursery rhymes to remember ok," said one Facebook comment.

It was not long before Chan cottoned on to the error, and said he had a "good laugh" when he realized what he had done. 

"To any one (especially young children) watching the video -- cotton definitely doesn’t come from sheep, it comes from cotton plants!" he said in a Facebook post.

"I should catch up on some sleep," he added -- prompting a netizen to respond: "I heard counting sheep helps."

It was not Chan's first virus-related gaffe. 

In February was criticized over a leaked recording in which he said panic buyers were behaving like "idiots" during a closed-door meeting with members of a commerce chamber. 

cla/sr/fox

Agence France-Presse

Tuesday, May 26, 2020

Singapore warns of worst economic contraction since independence


Singapore's embattled economy could shrink by as much as 7 percent this year, which would be the worst reading since independence, with the government saying Tuesday the coronavirus pandemic had throttled the key export sector.

The city-state is seen as a bellwether of the global economy and the historic contraction highlights the extreme pain being wrought on countries by the killer disease.

The warning also came hours before Singapore's deputy prime minister is expected to unveil another stimulus package for the troubled city, which has been crippled by months of lockdowns around the world. 

The trade ministry's forecast -- which was a downgrade from the four percent contraction predicted in March -- came as official data showed the economy shrank 0.7 percent on-year in the first three months of the year, while it reduced 4.7 percent from the previous quarter.

The financial hub is one of the world's most open economies, and is usually hit hardest and earliest during any global shock. 

The ministry said the new estimate was made "in view of the deterioration in the external demand outlook" and the partial lockdown imposed domestically. A contraction of 7 percent would be the worst since the city's independence in 1965.

Shutdowns in major markets such as the United States, Europe and China have crippled demand for exports, and a halt in international air travel has hammered Singapore's key tourism sector.

Singapore has ordered the closure of most businesses, advised people to stay at home, and banned large gatherings. While officials say they may start relaxing the rules from early June, many restrictions will remain in place.

Deputy Prime Minister Heng Swee Keat, who is also the finance minister, is expected to announce fresh support measures in an address to parliament later Tuesday.

That would be in addition to previous packages totaling Sg$60 billion ($42 billion), which are being paid for by using the country's massive reserves.

Song Seng Wun, an economist with CIMB Private Banking, said he expects the second quarter to bear the full brunt of the virus' fallout, with GDP expected to contract 15-20 percent.

"Singapore is a small and open economy whose trade is three times the size of GDP. The sharp contractions are a reflection of its external vulnerability," he told AFP.

The trade ministry also said "significant uncertainties" remain despite the opening up of some economies as they slowly emerge from lockdowns.

"First, there is a risk that subsequent waves of infections in major economies such as the US and eurozone may further disrupt economic activity," it said.

"Second, a growing perception of diminished fiscal and monetary policy space in many major economies could damage confidence in authorities’ ability to respond to shocks."

The trade ministry warned that "notwithstanding the downgrade, there continues to be a significant degree of uncertainty over the length and severity of the COVID-19 outbreak, as well as the trajectory of the economic recovery".

Singapore's central bank in March eased monetary policy to support the virus-hit economy.

Agence France-Presse 

Tuesday, May 19, 2020

Singapore looks to restart economy with phased easing of virus curbs


SINGAPORE - Singapore will see three-quarters of its economy resume normal operations when curbs to fight the coronavirus are eased from June 2, although the relaxing of measures will likely see a rise in daily cases, its government said on Tuesday.

Businesses that operate in settings with lower transmission risks may resume activities, such as those in manufacturing, finance, insurance and wholesale trade.

A third of the workforce will resume on-site operations, while the remainder would work from home, Trade and Industry Minister Chan Chun Sing told a news conference.

The plan is the first phase of lifting of Singapore's so-called "circuit breaker" restrictions to stem the spread of the coronavirus, which expire on June 1.

"This will be done in phases to reduce the risk of a second wave of cases of infections, as many countries have experienced, after they lifted their control measures," Health Minister Gan Kim Yong told the same briefing.

"As we begin to resume more activities, we do expect to see a rise in daily new cases."

Schools will also start reopening in the city-state from next month.

Singapore reported 451 new cases on Tuesday, taking the total to 28,794 infections - among the most in Asia, mainly due to outbreaks in cramped migrant-worker dormitories. It has managed to control the spread among locals outside of the dormitories.

Many restrictions will remain, however, including those on gatherings and socializing. Authorities will decide later on the second phase of easing, which could see dine-in restaurants and retail stores reopen.

The government wants to ease measures gradually until Singapore reaches a "new normal" where most activities can resume, but with limitations until an effective vaccine or treatment for COVID-19 is available.

The finance minister will next week announce more support for businesses unable to open on June 2. (Reporting by Aradhana Aravindan; Editing by Martin Petty)

-reuters-

Singapore apologizes for 'positive for virus' text message mistakenly sent to 350 people


SINGAPORE, Singapore - Singapore has apologized to more than 350 people who contracted COVID-19 for accidentally sending them a text message saying they had tested positive again, the health ministry said. 

A technical glitch led to the message being sent out at the weekend, the ministry said late Monday, adding that no confidential information was revealed. 

A follow-up message was sent to the 357 people affected pointing out the mistake and "to apologize for any inconvenience and anxiety caused", it said in a statement. 

"We have since reviewed our processes to ensure that a similar error will not recur," the ministry added.

Singapore initially managed to keep its outbreak in check but has been hit hard by a second wave of infections, mostly among migrant workers from crowded dormitories.

The city-state has reported 28,794 cases, including 22 deaths. Nearly 10,000 have recovered.

Like many other countries, Singapore has ordered the closure of most businesses, advised people to stay at home, and banned large gatherings.

Officials say they may start relaxing some of the curbs from early June.

Agence France-Presse

Sunday, May 3, 2020

Singapore reports 657 new coronavirus cases, mostly foreign workers


Singapore confirmed 657 new coronavirus infections on Sunday, the vast majority of them foreign workers living in dormitories, taking the city-state's total to 18,205.

The health ministry reported one death, an 86-year-old Singaporean woman, bringing the virus-related death toll in the country to 18.

Among the new cases, ten were Singaporeans or permanent residents, while 626 cases were foreign workers living in dormitories, the ministry said.

Singapore has among the highest number of coronavirus infections in Asia, mainly due to outbreaks in cramped migrant-worker dormitories. It has managed to curb the spread of the disease among locals outside the dormitories.

Singapore will start easing coronavirus restrictions over the next few weeks, authorities said on Saturday. 

(Reporting by Aakriti Bhalla and Ismail Shakil in Bengaluru; Editing by Nick Macfie)

-reuters-

Friday, May 1, 2020

Crude crash brings down Singapore oil tycoon


SINGAPORE -- Singapore tycoon O.K. Lim built up his oil empire from a single-truck outfit through hard work and high-risk gambles, a rags-to-riches tale that made him a legend among crude traders.

But it all came crashing down when oil markets were plunged into unprecedented turmoil by the coronavirus pandemic and revealed the keen poker player appeared to have overplayed his hand.

Lim -- who projected a down-to-earth image but was, according to people who knew him, a "major risk-taker" -- dashed to court seeking protection from creditors for his firm Hin Leong Trading last month.

In a bombshell affidavit seen by AFP, Lim revealed the oil trader had "in truth... not been making profits in the last few years" -- despite having officially reported a healthy profit in 2019.

He admitted the firm he founded in the 1960s after emigrating from China had hidden $800 million in losses over the years, while it also owes almost $4 billion to banks.

Lim took responsibility for ordering the company, one of Asia's biggest oil traders, not to report the losses and also confessed it had sold off inventories that were supposed to backstop loans.

Hin Leong -- meaning "prosperity" in Chinese -- is one of the biggest industry casualties yet of the crude market collapse, and its demise last month marks an ignominious fall from grace for Lim.

'Major risk-taker'

The businessman -- whose full name is Lim Oon Kuin -- started the company with a single delivery truck shortly before Singapore became independent in 1965.

It grew into a major supplier of fuel used by ships, and its rise in some ways mirrored Singapore's growth from a gritty port to an affluent financial hub.

The firm played a key role in helping the city-state become the world's top ship refuelling port, observers say, and it expanded into ship chartering and management with a subsidiary that has a fleet of more than 150 vessels.

The picture that emerges of Lim himself, now in his 70s, is complex.

On one hand, he was a low-profile individual who sought to project a humble image -- you would not know he was a wealthy tycoon if you saw him walking down the street, according to those who knew him.

But he maintained a firm grip on Hin Leong, with one oil trader in Singapore -- who spoke anonymously -- describing him as a "typical Asian patriarch making all the decisions for the family business".

Jorge Montepeque, a veteran crude market executive who did business with Lim for a decade until 2001, said the Hin Leong founder could appear "almost detached" in meetings, as if unaware of what was happening.

"But that's not true, he very much knows what is going on... The reality is that he has been a major risk-taker," he told AFP.

'Too big to fail'

The firm's collapse has prompted a police investigation and sent shockwaves through the financial community, with a government agency offering assurances that the city-state's "oil-trading sector remains resilient".

The Singapore oil trade told AFP: "Nobody appeared to have thought that anything was amiss.

"The sentiment was that Hin Leong was too big to fail."

But it appears that taking risks and failing to hedge against a downturn came back to bite Hin Leong when it was hit by a double blow -- a Saudi-Russia price war and a virus-triggered demand shock.

Global oil demand has collapsed by around a third, according to some estimates, as the virus pandemic brings economic activity to a standstill.


A slide presentation made by Hin Leong for creditors before it went to court showed the company had total liabilities of $4.05 billion against assets of $714 million.

Bank debts of $3.85 billion comprised the lion's share of its liabilities -- with large sums owed to lenders including HSBC, Dutch bank ABN Amro and France's Societe Generale.

"What caught many by surprise was that they didn't have the cash. I mean, these guys were big," the oil trader said.

Hin Leong did not respond to requests to comment from AFP.

Lim has stepped down from his positions as director and managing director, although Hin Leong's final fate is still uncertain at this stage.

Observers say that the firm had likely hoped China would contain the virus and the oil market turmoil would be short-lived.

But such a strategy, said oil executive Montepeque, was like "taking all your assets and putting them all on the red on the casino roulette".

And after reading Lim's confessions, Montepeque said he believed the "game was up" for Hin Leong.

Agence France-Presse

Sunday, April 26, 2020

Australia launches controversial COVID-19 tracking app


MELBOURNE - The Australian government launched a controversial coronavirus tracing app on Sunday and promised to legislate privacy protections around it as authorities try to get the country and the economy back onto more normal footing.

Australia and neighboring New Zealand have both managed to get their coronavirus outbreaks under control before it strained public health systems, but officials in both two countries continue to worry about the risk of another flareup.

"We are winning, but we have not yet won," Australian Health Minister Greg Hunt said at a televised briefing announcing the app's launch

The app, which is based on Singapore's TraceTogether software, uses Bluetooth signals to log when people have been close to one another. It has been criticized by civil liberties groups as an invasion of privacy.

The Australian government, which wants at least 40% of the population to sign up to make the effort effective, said the voluntary app, which would not track location, is safe.

The app's stored contact data will enable health officials to trace people potentially exposed to infections.

"It will help us as we seek to return to normal and the Australian way of life," Hunt said. "No one has access to that, not even yourself ... only a state public health official can be given access to that data."

A legislative directive ensuring that will be proposed to the parliament in May, the health ministry said on the app's website on Sunday.

A few countries, including South Korea and Israel, are using high-tech methods of contact tracing which involves tracking peoples' location via phone networks, though such centralized, surveillance-based approaches are viewed as invasive and unacceptable in many countries.

Trust in governments in Australia and New Zealand has risen since the start of the pandemic, opinion polls show, with leaders of both countries - ideologically opposite - hailed for their management in suppressing the coronavirus.

The rate of increase in new cases has been below 1% for two weeks now in both countries - much lower than in many other countries.

On Sunday, Australia's states of Queensland and Western Australia said they would slightly ease social distancing rules this week to allow for larger outdoor public gatherings, among others, but officials in Victoria, second most populous state, said they were not ready to relax the state's hardline restrictions.

Australia reported 16 new coronavirus cases on Sunday, which took its total to 6,703, according to health ministry data. There have been 83 deaths.

In New Zealand, there were four new confirmed cases, bringing the total to 1,121. Eighteen people have died, health ministry data showed.

On Monday, New Zealand will start to ease some of the world's strictest lockdown measures, and is also set to roll out a tracing app soon, but Prime Minister Jacinda Ardern has warned this is not the only panacea.

"We have been very clear on from the beginning that no tracking app provides a silver bullet," Ardern said earlier this month.

-reuters-

Singapore races to build beds for COVID-19 patients as cases surge


SINGAPORE - Singapore is rapidly building bed space for coronavirus patients in cavernous exhibition halls and other temporary facilities as it faces a surge in cases, mainly among its large community of low-paid migrant workers.

The tiny city-state of 5.7 million people has over 12,000 confirmed infections of the virus that causes COVID-19, one of the most in Asia, due to outbreaks in cramped dormitories housing over 300,000 mainly South Asian workers.

One such facility at Changi Exhibition Center - home to the Singapore Airshow, Asia's biggest aerospace gathering - could eventually house over 4,000 patients recovering from the disease and those with mild symptoms.

"The entire process of setting up the infrastructure took six days," Joseph Tan, a member of the organizing committee for the temporary facility, told Reuters on a visit.

The first patients, mainly from Bangladesh and India, were moved on Saturday into the vast conference hall, partitioned into rooms for eight to 10 people, with metal beds, plastic storage drawers and fans.

Singapore trails only China, India, Japan and Pakistan in Asia for the number of coronavirus infections. More than 10,000 of those infected, some 80% of its total, are foreign workers, many of whom have been placed in "isolation facilities" for people with mild symptoms such as the conference centers.

Despite the high total of cases, Singapore has reported 12 deaths and 24 people are in intensive care.

Singapore's young overseas laborers, earning as little as $15 a day, live in dormitories with bunk-bed accommodation in areas little visited by tourists to the modern city-state. Many are under government-ordered quarantines due to mass outbreaks, with workers left inside battling a constant fear of catching the virus.

At the new Changi isolation center, each room has blood-pressure monitors and other medical equipment for patients to conduct their own health checks three times daily, while remote-controlled robots provide meals and teleconferencing services to reduce contact.

Authorities are also trialing a four-legged robot dog built by Boston Dynamics at the facility, which they said could be used to deliver medicines to patients or take their temperature.

The indoor space can house 2,700 patients, while an ongoing outdoor extension will add another 1,700 beds. A nearby conference center called EXPO is already housing hundreds of COVID-19 patients.

Around 10,000 healthy workers in essential services have been moved from dormitories into alternative housing, including military camps, converted sports halls and accommodation ships for offshore workers, authorities say. Rows of white huts are also being hurriedly assembled at the Tanjong Pagar shipping-container port. The facility could house up to 15,000 foreign workers, local media reported, but authorities have yet to decide how it will be used.

"We are continuing to explore additional space for various reasons, including facilities for suspect cases or infected workers, and also for workers who are recovering or who have fully recovered," a spokeswoman for the Ministry of National Development said in an emailed statement, adding that the Tanjong Pagar site was part of that plan. 

-reuters-

Friday, April 24, 2020

Singapore records 897 new coronavirus infections


Singapore registered 897 new coronavirus infections on Friday, taking its total number of cases to 12,075.

The health ministry said the vast majority of the new cases were migrant workers residing in dormitories, many of which are under government-ordered quarantine due to mass outbreaks.

The island of 5.7 million people now has one of the highest infection rates in Asia, according to official figures, behind only China, India and Japan. 

-reuters- 

Tuesday, April 21, 2020

Singapore reports 1,111 new coronavirus cases


SINGAPORE - Singapore said on Tuesday it had preliminarily confirmed 1,111 new coronavirus cases, taking the city-state's total infections to 9,125.

The health ministry said most of the cases were migrant workers living in dormitories, a group that accounts for more than three quarters of the city-state's total infections.

The World Health Organization's regional chief said on Tuesday that Singapore - which has the highest number of reported cases in Southeast Asia - is facing "very difficult challenges" from a recent surge in infections but has the healthcare system and risk management capacity to handle it.

The city-state recorded its biggest ever daily jump in cases on Monday with 1,426 new infections. (Reporting by John Geddie; Editing by Andrew Heavens)

-reuters-

Saturday, April 18, 2020

Singapore reports 942 new COVID-19 cases in record daily jump


Singapore's health ministry confirmed 942 more coronavirus infections on Saturday, a new daily record, the vast majority of which are among migrant workers living in dormitories.

Authorities have managed to mitigate the spread of the virus and the COVID-19 respiratory disease it causes among Singapore's citizens by rigorous contact tracing and surveillance, earning praise from the World Health Organization.

The Ministry of Health reported just 14 cases among Singaporeans and permanent residents on Saturday.

But the disease is spreading rapidly within the large migrant worker community, highlighting what rights groups say is a weak link in containment efforts. Authorities have ramped up testing for the disease in the dormitories.

Saturday's new cases take the total in the city-state, which is under a partial lockdown, to 5,992. It has reported 11 deaths from the disease.

-reuters-