Singapore

Lee Kuan Yew says guards were negligent in terrorist suspect escape

Minister Mentor Lee Kuan YewSingapore - Complacent guards were negligent in the break-out of accused terrorist Mas Selamat Kastari after the suspect lulled them into believing they had him under control, Minister Mentor Lee Kuan Yew said in a published report on Saturday.

Mas Selamat, whom Lee called an "escape artist," has been at large for more than five weeks.

"When you are complacent in handling a wily detainee, then you have been negligent," Lee told The Straits Times.

Government of Singapore purchases 5% stake in ICSA

Hyderabad-based, ICSA (India) Limited, has informed that the Government of Singapore Investment Corporation, a financial services arm of the Singapore government, has picked up 5.02 per cent equity in the company.

Government of Singapore, which already held 1.49 percent stake in the company, raised its stake through purchase of 2.2 million shares from the secondary market.

With this, international financial institutions and non-resident Indians hold about 51.15 per cent of the equity of ICSA (India).

IOC president Jacques Rogge to receive update on YOG preparations

Singapore - International Olympic Committee (IOC) President Jacques Rogge will receive an update on preparations for the first Youth Olympic Games (YOG) during his visit to Singapore, organizers said on Friday.

The three-day visit is Rogge's first since the city-state won the bid over Moscow to host the inaugural games in August 2010.

A signing ceremony for the host city contract will be witnessed Saturday by Singapore Prime Minister Lee Hsien Loong.

Lee will also host a dinner for Rogge and his delegation.

Clinching the YOG is a milestone for the city-state, which has never hosted a major Olympic event.

India keen to learn best practices from Singapore: Kamal Nath

Singapore, Apr. 4: Commerce and Industry Minister Kamal NathIndia’s economic engagement with the world is expected to touch 550 billion dollars in 2007-08, announced the country's Commerce and Industry Minister Kamal Nath on Friday while addressing the opening session of the Incredible India@60 campaign here.

Stating that India is keen to learn and pick up the best practices from Singapore, Nath said that the city-state’s institutions, regulatory frameworks and strong services were a role model for India.

India@60 Singapore CEOs say India strong in knowledge, manufacturing, but weak in delivery

Singapore, Apr. 4: Incredible!India@60Panelists attending a session here on "India – the Knowledge Economy giant : Heading in the right direction" have unanimously opined that in India,"there is no dearth of ideas, but the delivery is weak in quantity and quality."

The comments were made in the second half of the business session at the Incredible India@60 campaign here.

The campaign is being jointly organized by the Government of India and the Confederation of Indian Industry (CII).

"Incredible India" to depict India as a fast moving economy in Singapore

New Delhi, Apr 4: Incredible!India@60A high powered delegation of political and business leaders, led by Union Commerce and Industries Minister Kamal Nath, will begin their four-day tour to Singapore from today as part of the Incredible! India@60 event.

Besides, Union Tourism Minister Ambika Soni and Confederation of Indian Industry (CII) President Sunil Mittal will also be present on the occasion.

The event is being organised jointly by the Government of India and the CII.

Zicom Electronic forms JV with CNA Group, Singapore

Zicom Electronic Security Systems Ltd announced that the company has formed a joint venture (JV) with CNA Group, Singapore, to offer integrated intelligent building management solutions and green buildings in India.
Zicom will acquire 51% stake and CNA Group will have 49% in the joint venture company named as Zicom CNA Automation.

The JV aims to leverage on the enormous growth potential of the booming real estate market in India by providing integrated facilities management solutions and services to residential, industrial commercial and Government construction.

Bilcare Singapore raises $ 90 million through Convertible bonds

Bilcare Limited
Bilcare Singapore, a wholly owned subsidiary of Bilcare Limited, has issued 4% convertible bonds, due in 2012, to raise $90 million, an official release said.

The bonds may be redeemed in whole at the option of the bondholder on the maturity date at a return price of 130.726% of the principal amount, plus accrued interest, as per the terms of the issue.

The Bonds may be converted to shares of Bilcare Singapore Pte Ltd at maturity or 90 days after the completion of a Qualified IPO. The bonds will be listed on Singapore Stock Exchange.

Singapore Airlines offers its passengers to get a taste of Singapore “free”

Singapore AirlinesSingapore, Nov 17: To attract global passengers to Singapore, Singapore Airlines (SA) in association with the Singapore Tourism Board has announced ‘Your Uniquely Singapore Transit Adventure’.

According to SA, when a flight makes a quick stopover at Singapore’s Changi Airport, the airline has suggested to take a break from the four walls of the airport and hop onto a Free City Shuttle to savour a free meal at any one of the three stops (Little India, Suntec City Mall or Bugis) or indulge in some great retail therapy.

This offer is valid upto December 31, 2007

Priceline.com acquires Agoda Company

Norwalk/Bangkok, Nov 12: Priceline.com announced that it has acquired Bangkok and Singapore-based Agoda Company, an online travel company specializing in hotel discount bookings throughout Asia, in a transaction that includes an initial cash payment and a multi-year, performance-based earn-out.

Priceline.com said it intends to retain Agoda's current management team, who will continue to manage Agoda's operations independently as part of priceline.com's international business.

In the Asia Pacific region, Agoda offers hotel properties in Australia, China, Japan, India, Thailand, South Korea, Singapore, Indonesia, the Philippines, New Zealand and several other countries.

Singapore Airlines bans mile-high club

London, Nov 1 : Singapore Airlines’ new Airbus A380 boasts of having the world's first airborne double beds, but the luxury comes with a warning for some randy couples – No sex please!

Many romantic couples’ hopes of joining the mile-high club were shattered by the airline after it announced that it would ask passengers to refrain from sex while travelling in one of its 12 first-class suites.

The warning comes after passengers discovered that the super jumbos' 12 private suites are not soundproof.

The airline said it doesn’t want the romping sessions to offend other travellers or crew anywhere within the plane.

Standard Chartered’s Share Financing Plan Launched In Singapore

Singapore: Standard Chartered has brought out a share financing plan in Singapore, which will permit individuals to have a loan of up to 10 times their monthly salary

Offered in cooperation with Singapore stock brokerages Phillip Securities and Lim & Tan Securities, the Standard Chartered plan allows capitalists get financing at the same they purchase their shares.

In a statement, Standard Chartered bank said, “There are some 250,000 active share investors in Singapore, and the number is expected to grow as Singaporeans become increasingly financially savvy.”

Head of consumer banking for Standard Chartered in Singapore, Ajay Kanwal, said that the share-financing plan will be made available to other brokers in Singapore.

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