The Malaysian ringgit tumbled to a 12-year low in offshore markets yesterday, sending some Singaporeans into a buying frenzy.

One Central District money changer told The New Paper that his stock of RM300,000 (S$96,000) was sold out in four hours.

Emerging stock markets and their currencies have been hit by fears that once Mr Donald Trump assumes the US presidency, higher interest rates would spark capital outflows from this region.

At 10am yesterday, the ringgit was trading at 3.1504 per Singdollar according to currency conversion app XE Currency. The rate shown on the app is usually higher than what is offered at the money changers.

By noon, it was at 3.0351 at AR Money Exchange at Junction 8. By 2pm, it was between 3.035 and 3.05 at eight money changers at The Arcade in Collyer Quay.

Money changers there told TNP they saw a surge of customers buying ringgit yesterday .

Aksha Exchange opened its shutters at 10am and ran out of its stock of RM300,000 by 2pm.

Its owner said: “We didn’t expect to run out. So many people came to buy.

“One week ago, S$1 was RM3. Today, it is RM3.04.”

Since Mr Trump won in the Nov 8 election, the money changer has noticed a 30 per cent increase in the number of customers buying ringgit.

This was echoed by Arcade Plaza Traders’ administration manager, Mr Deen: “Forty to 50 per cent of our customers today bought ringgit. “

Mr Trump’s pro-growth message in his acceptance speech had sent US stock markets and the US dollar soaring. (See report at facing page.)

The president-elect even had a cordial midday meeting yesterday with US President Barack Obama that had a positive impact in the US. (See report on page 12.)

But it was bad news for emerging markets, including Singapore.

Even in the queues, there were winners and losers.

Shop manager Niel Hoh, 28, who makes a trip to Malaysia every two months, saved more than $200.

“I bought RM10,000 for S$3,278.69 today. Two weeks ago, I bought only RM1,500, S$1 was around RM2.90.”

But permanent resident David Wong, 55, who works in a Malaysia real estate firm, felt the pinch.

He sold RM20,000, and got about S$6,500 – about S$200 lower than what he would have got four weeks ago.

Money Changers Association Second vice-president Danny Yoong, 48, observed that ringgit-buying remained stable in the past few weeks.

Mr Yoong, who also owns Bon Voyage Money Changer, said: “But there are signs that the ringgit is weakening, and demand for ringgit may become high.

“There are also some customers who wait to see whether the ringgit rate will go down even further.”

He added that the Singdollar is not doing well against the US dollar, and sees a 10 per cent increase in people selling US dollar.

ELECTION

“Before the election, Singdollar was trading at 1.38 to 1.39 per US dollar, but it became around 1.400 to 1.415 after the election,” said Mr Yoong.

At 8.56am, the Singdollar was trading at 1.4135 per US dollar – down 0.57 per cent from its close of 1.4054 the previous day.

Bank Negara Malaysia governor Muhammad Ibrahim sought to assure Malaysians that the ringgit’s fall is due to speculation among investors and not the country’s fundamentals.

But senior economist at Mizuho Singapore, Mr Vishnu Varathan, said the plummeting ringgit will have a short-term impact on the cost of living of Malaysians and Singapore.

He said: “We have many cross-border transactions and involvements. The ringgit also features heavily in Singapore’s basket of currencies, so the Singdollar will also be affected.”

The Singapore stock market continued its fall following Mr Trump’s victory.

After Wednesday’s knee-jerk losses, The Straits Times Index continued its downtrend and ended 19.49 points, or 0.69 per cent, lower to 2,814.6, taking the year-to-date performance to -2.36 per cent.

Netizens are slamming a local magazine, Teenage, and its regular agony aunt column Dear Kelly for its “victim-blaming” response to a sexual assault victim.

In this month’s issue, the magazine published a letter from a teenage girl who had turned to Kelly for advice after she was raped by her “best boy buddy” during a sleepover.

The teen said she had lied to her parents to stay over at his place, unsupervised, and that she did not recall anything when she woke up in the morning naked in bed with him.

In the evening leading up to it, she had drunk some wine for the first time, and they cuddled and kissed before he started to undress her.

She wrote that she was ashamed after he told her that he had not expected her to stay over with no one else at home and that he was “surprised” she was a virgin.

Responding to the traumatised victim, Kelly called her “naive and inexperienced”.

She also said she did not blame the male teen for thinking the letter writer wasn’t a virgin as she had “acted like a girl who has been around”.

Her advice sparked anger among netizens who felt that her reply was out of line.

Facebook user Sara Janelle, who posted shots of the article, wrote: “By publishing this kind of advice, you’re just condoning rape. This is victim-blaming at its finest.”

Another Facebook user Nyria Nox Ren said that it contributes to the victims’ fear of reporting rape.

Responding to Sara Janelle’s Facebook post, Teenage commented in the thread that it was “never the intention of Teenage to condone rape and victim-blaming” and that it was investigating the matter.

In a post on its official Facebook page later in the evening, the magazine apologised. (See excerpt right.)

Ms Chopard has helmed Dear Kelly in Teenage magazine since 1996.

Clinical psychologist Carol Balhetchet said that a different approach should have been taken by Ms Chopard when addressing the victim.

“Counsellors must think about their objectives,” said Dr Balhetchet, senior director for youth services for Singapore Children’s Society.

“This approach has pushed the victim into further self-guilt, remorse and blame, and these can be detrimental to a teenager. Demonising the girl is not the way.

“Young lives are at stake here and you always need to think two steps ahead about the impact that your words would have on them.”

In a Facebook post, Aware’s head of advocacy and research Jolene Tan took issue with the “condescending and unsupportive” tone of the column, its victim-blaming messages and the “wrong and harmful message” that acts like agreeing to stay over, kissing and cuddling equal consent for further sexual activity.

Ms Tan pointed out that the column will discourage others from reporting sexual assaults and “reinforce their expectation of judgmental and unsupportive responses”.

NOT UNCOMMON

Teenage girls whom TNP spoke to said lying to their parents occasionally to stay over at male friends’ homes or to go clubbing is not uncommon.

But they said that did not mean they deserved to be sexually assaulted or to be shamed by a response like the one given by Ms Chopard.

A 19-year-old Ngee Ann Polytechnic student said she would probably be scarred for life if she had received such advice.

“It’s bad enough that the girl turned to Dear Kelly as her last resort, she was scared and traumatised. But a reply like that would only mean long-term self-blame and she might not trust any man ever again,” she said.

ATemasek Polytechnic student, 19, said a negative response like that only shames the victim without helping her.

“If it were me, I think I would have turned to my parents even if I had lied to them in the first place,” she said.

“This response would have made me feel even worse. Kelly should have advised her on how to move past this.”

Kiss92FM DJ Maddy Barber, whose older daughter is 20, said Ms Chopard has “no right to chastise” the victim.

The 43-year-old said: “She has no vested interest in the child. Apart from consoling her, she has no right to do anything else.

“I hope children will always turn to their parents. Every parent’s nightmare is their children lying to them and every bad story increases the fear even more.

“No matter the situation they are in, sexual assault can happen to anyone and the victims did not ask for it. It is never the victim’s fault.

“Rape is just wrong. “

A recent video clip showing a teen being beaten by two other boys at a staircase landing has sparked online outrage over bullying.

But there is more to the case than meets the eye, The New Paper learnt yesterday, after speaking to the victim and one of his attackers.

The incident occurred at about 10pm on Saturday, on the eighth storey of a block of flats in Potong Pasir.

The 22-second video clip begins with a teenager in a red shirt punching a boy in a black T-shirt who does not retaliate.

The victim tries to shield his face and body. But he is later struck repeatedly by a boy wearing a white hockey jersey emblazoned with Saints 33 on the back.

At one point, the boy in red is seen leaping through the air to stamp on the victim, who is on the floor and screaming in pain.

As of midnight yesterday, the clip had received more than a million views and 36,000 shares on Facebook.

Most of the netizens called for the attackers to be brought to justice. (See report on facing page.)

Though the boys involved have been identified online, TNP is not doing so because they are minors.

When TNP met the victim and his mother in their flat in Potong Pasir yesterday, he said that he hung out with a group while his attackers belonged to another group.

He knows his attackers, who go to a different school, because they grew up together in the same estate.

He said he was still in pain from his injuries in the attack.

Showing TNP his swollen left thigh and superficial injuries on both knees, the Secondary 2 student said: “There was no point fighting back, I was outnumbered.”

Clarifying that it was not a case of bullying, he said he had met his attackers to settle “some issues”, but declined to elaborate.

The boy, who gave a statement to the police on Sunday, added: “I’m not angry at him (the boy who stamped on his left thigh). It has already happened.”

ATTACKER SAYS

The attacker in the hockey jersey told TNP over the phone yesterday evening that the victim had been provoking him.

Insisting that he did not belong to any group, the Secondary 3 student said: “I know I lost it (when I attacked him).

“But he kept boasting he belonged to a big group. And he also said insulting things about me and my family.”

The attacker claimed that the victim had told him he could mobilise 20 people to their meeting and “confirmed I would die”.

So he called five friends to join him, expecting to meet a huge group. But the victim turned up with only two friends.

Only the three teens in the video were involved in the incident. The others only stood and watched.

He said that after the attack was over, he asked the victim if he was “okay” .

“We grew up together playing basketball and football. I knew he has a back injury,” he said.

The injured boy limped to the lift with his friends’ help while the teen in the jersey took the stairs alone.

His friends also left, and some of them even took the same lift down as the victim and his friends.

The principal of the attackers’ school said she was “aware of the incident and that some of the students involved are from our school”.

She told TNP in an e-mail: “We take all incidents of fighting seriously, and will continue to educate our students on anger management and appropriate behaviour.

“The school is working with the police in their investigation and therefore is unable to comment further.”

The Ministry of Education also said it was aware of the incident, but was unable to comment because of the police investigation.

The victim’s mother told TNP she was shocked when she learnt the next day what had happened. (See report, right.).

She claimed the attacker in the jersey had visited her flat to “ask for the matter to be dropped”.

When told of this, he claimed it was not true.

He said: “On Monday, I went to apologise to the victim and his mother. A woman at the door told me not to contact them any more as it was now a police case.”

He said he had given two police statements so far.

One of his schoolmates, who had gone to watch the “settlement talk”, said the police had also called him to give a statement.

He told TNP: “I was playing basketball in the estate when I stupidly agreed to accompany the boys to the meeting. I didn’t know (things would) happen like that.”

In reply to TNP’s queries, a police spokesman said: “The police take a stern view of lawless and violent public behaviour, which could threaten the sense of safety and security in the community.

“Any person who resorts to violence and riotous behaviour will be dealt with severely, in accordance with the law.”

If you were inspired by Matt Damon’s marooned exploits, David Bowie’s song or just wondered what it would be like to walk on another planet, Sentosa is the place to be this weekend.

Transport yourself – virtually – 225 million km across space with the Experience Mars showcase at Palawan Beach.

Yes, a part of the little red planet has come to the little red dot and you can experience what it would take survive on our crimson planetary neighbour.

This weekend event ties in with Sunday’s premiere of National Geographic Channel’s Mars – a six-part series that documents the quest to colonize Mars from the viewpoint of a fictitious mission in 2033. The series is produced by the multi-award-winning team lead by Ron Howard and Brian Grazer.

There is a lot to explore at the Sentosa showcase. Here are five things to look out for under that white geodesic dome.

Alter-G Anti-Gravity treadmill

To find out what it would be like to take that next giant step, this treadmill – said to be the world’s first and only to use NASA anti-gravity simulation technology – will take you for a stroll on the red planet.

This reporter had the chance to try it out. The effect is feeling like movement is effortless. You floating more than walk.

It can be so addictive that you might want to become a Martian.

Mars Aqua Retrieval System

This prototype of a specialised Martian rover is designed to mine for water and has been designed by the Singapore University of Technology and Design.

Water is vital for Mars colonisation. Yet there is no liquid water there and exposed ice quickly turns to gas.

This machine finds, mines, cleans and then stores the planet’s most precious commodity. Not a machine you want to forget to take.

Virtual Reality tour

Using the Samsung Gear VR, this is your chance to be a rover pilot with the mission to retrieve scuttled cargo.

It’s not an easy mission. Some may find that they can only retrieve one piece of cargo before the timer runs out.
Along with the treadmill, this is exhibit is likely to be one of the most popular with all ages.

Gilmour Mars Habitat

This could be renamed AirlockBnB.

A home that can support nine crew members on a Mars mission that in theory, could last for many years. Though life in distant isolation can be daunting, the design ensures that most, if not all, needs are met.

The layout maximises the comfort level in all aspects of their life on Mars.

Green shoots in red soil

The toxic topsoil of Mars means that growing plants is a job for science.

Deeper soil is treatable and can be introduced to a greenhouse environment to promote growth.

Visitors will get the chance to try their hand at getting green fingers with their own pot plant.

What: Experience Mars Showcase

When: November 12-13 from 11.00am-7,00pm

Where: Palawan Beach, Sentosa

How: Entry to showcase is free, regular admission fees to Sentosa applies

Mars premieres Sunday, November 13, 10pm on National Geographic Channel (Singtel TV Ch 201 and StarHub TV Ch 411).

SINGAPORE: Lim Chu Kang Road will be converted into a runway from Thursday (Nov 10) to Monday, as part of the Republic of Singapore Air Force (RSAF) exercise to increase its aircraft take-off and landing capability.  

Codenamed Exercise Torrent, the alternate runway exercise was last conducted in 2008, and is now in its seventh edition. 

The conversion of Lim Chu Kang Road will take about 48 hours and involves 110 RSAF servicemen. Public road fixtures such as lamp posts, traffic lights, bus stops, road signs and guard rails will be temporarily removed.

BG Gan Siow Huang, commander of Air Power Generation Command (APGC) and exercise director, said Exercise Torrent has been challenging internally and externally.  

“It takes a lot of cooperation within the RSAF – with the ground crew and the air crew. Externally, for this exercise, we also have to work very closely with national agencies such as the Land Transport Authority, the National Environment Agency and Singapore Police Force,” she said.  

She added that the RSAF also had to engage farm businesses in the vicinity so as to “minimise disruption”.  

RSAF aircraft F-15SGs will be making its debut in this year’s exercise. Other jets featured include the F-16C/Ds and F-16D+s. These fighter jets will simultaneously take off and land using both Lim Chu Kang Road and the Tengah Air Base runway.

A simulated emergency using hook wire engagement by a Mobile Arrestor Gear (MAG) on the F16 jets will also be conducted. The eight-tonne MAG is a mechanical system that rapidly decelerates an aircraft after it touches down. It can be used for short or temporary runways or in situations where the aircraft has difficulty stopping on its own due to aircraft fault.  

Mobile Arrestor Gear. (Photo: Junn Loh)

ME6 Jerediah Ong, Air Force engineer and member of the team overseeing the conversion of the road said they also had to focus on the removal of all foreign objects on the road, such as stones and nails, as these pose risks to the engines of the aircraft.  

“Up north (of Lim Chu Kang Road), there are actually a few recycling plants, recycling locations. So, the big trucks go by and they do drop items on the road in the process,” he said. 

Lim Chu Kang Road will be closed on Friday until 6pm, as well as on Saturday (8am-6pm) and Sunday until 2pm to facilitate the road transformation.

SINGAPORE: Former private banker Yak Yew Chee, whose clients included Malaysian tycoon Jho Low and subsidiaries of Malaysia’s scandal-hit state fund 1MDB has been jailed 18 weeks and fined S$24,000.

Yak, 57, pleaded guilty on Friday (Nov 11) afternoon to four of seven charges: Two for forging reference letters vouching for the Low family and two for failing to report suspicious transactions involving tens of millions of dollars coursing through BSI bank in Singapore.

Mr Low was named on Thursday as a person of interest in Singapore’s ongoing probe into illicit transactions involving 1MDB, amid allegations he embezzled billions from the state fund.

2 WEEKS, 6 BANKS, 9 TRANSACTIONS AND US$110 MILLION

A district court heard that over two weeks in 2012, using nine bank accounts across six banks locally and overseas, Mr Low moved US$790.35 million (S$1.11 billion) out of 1MDB Energy (Langat), out of which US$110 million eventually made its way into a Swiss bank account in the name of Selune, a firm owned by Mr Low.

The influx of US$110 million into Selune’s account raised the suspicion of Swiss authorities. To head off further enquiries, Mr Low sought Yak’s help to send a referral letter to Swiss bank Rothschild in Zurich to vouch for the legitimacy of the transaction, shielding the true source of the funds – 1MDB Energy (Langat).

“(Yak) did so notwithstanding that it would have already dawned on him that the circular flow of funds … served an ulterior and sinister purpose,” Deputy Public Prosecutor Leong Weng Tat said.

Despite his suspicions that the millions may have been the proceeds of criminal conduct, Yak bypassed the bank’s internal controls to forge and issue the letter to Rothschild, eager to please his biggest client.

He also did not raise the alarm to a Suspicious Transaction Reporting Officer.

NOT AN INNOCENT LAMB, MOTIVATED BY GREED: PROSECUTION

Two years later, Mr Low again asked Yak for a reference letter, this time pertaining to his net worth – US$1.63 billion, or so Mr Low claimed.

Yak again bypassed the bank’s internal controls to issue the letter to BNP Paribas in Switzerland, signed by him and fellow private banker Yvonne Seah Yew Foong.

Prosecutors said Yak was motivated by greed, as he benefitted financially from Mr Low’s transactions. “He was not an innocent lamb … he was privy to the true nature of the fund flows … and the true source of the US$110 million (1MDB Energy (Langat)),” said prosecutors.

They urged the court to sentence Yak to 20 to 24 weeks’ jail and a fine of S$24,000 to S$30,000.

YAK TO SURRENDER MILLIONS IN PROFIT, SIGN OF ‘GENUINE CONTRITION’: LAWYER

Yak’s lawyer Lee Teck Leng said his client will surrender S$7.5 million to the State “to demonstrate his genuine contrition”.

He had “no idea” Mr Low was involved in crime, as the businessman regularly showed up to meetings accompanied by top management of 1MDB. Yak “did not have grounds to believe anything was amiss with purported 1MDB investments”, Mr Lee argued.

He said Yak’s desire to please Mr Low stemmed from the fact that he was BSI’s “most important customer” and the bank’s leaders urged Yak to “keep (Mr Low) happy”.

Mr Lee urged the court to impose a jail term of 12 to 16 weeks and a fine of not more than S$20,000.

BANKERS SHOULD PROTECT TRUST IN THE INDUSTRY: JUDGE

In sentencing Yak, Deputy Presiding Judge Jennifer Marie said she had considered Yak’s contriteness, his willingness to surrender S$7.5 million of his bonuses and his “forthright acceptance of his criminal culpability”.

Yak’s plea of guilt came just a month after he was charged.

“It is imperative the public confidence in the integrity of Singapore’s banking and financial industry is zealously protected,” DPJ Jennifer said.

“Bank officers should be seeking to safeguard (trust in the financial industry) and not succumb to greed and the lure of huge bonuses of the treachery of ‘important’ clients.”

Yak is the first of four individuals charged in connection with Singapore’s 1MDB probe to be convicted.

For forgery, Yak could have been jailed up for four years and fined, and for failing to report suspicious transactions to the authorities, Yak could have been fined up to S$20,000 per charge.