Prime Minister Lee Hsien Loong yesterday attended the wake of former PAP MP Chor Yeok Eng, who died on Wednesday aged 86.

In a Facebook post last night, Mr Lee paid tribute to Mr Chor for dedicating his life to the country and to improving the lives of Singaporeans. Mr Chor was MP for Bukit Timah from 1966 to 1984 and retired from politics as senior parliamentary secretary for the environment.

Mr Lee wrote: “As a young man, he joined the PAP to fight for an independent Singapore. As MP for Bukit Timah, he saw the poor neighbourhood turn into a beautiful modern estate, and improved the lives of residents.

“Mr Chor’s integrity and character shone on many occasions. In 1956, when a 2,000-strong mob threatened to burn down the former Yeo Hiap Seng factory in Bukit Timah, he stopped them. He reminded them that they were against the colonialists and not the local manufacturer.”

He noted that Mr Lee Kuan Yew considered Mr Chor one of his oldest, most steadfast and courageous party comrades: “He said that if he had to choose one other to go to battle with him, he would pick Mr Chor.”

Mr Chor remained active after retiring in 1984, Mr Lee added.

“Mr Chor kept a watchful eye over his old constituency. I often met him when I visited Bukit Timah for constituency events, and was glad to see him again last year when we celebrated the 60th Anniversary of Bukit Timah,” he said.

This article was first published on July 23, 2016.
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No Singaporeans have been injured in or directly affected by the recent shooting attack in Munich, the Ministry of Foreign Affairs (MFA) said in a statement today (July 23).

It has verified the safety of most of the registered Singaporeans in Munich, and will continue to contact the remaining others.

Singaporeans in Munich who have not registered with the MFA have been advised to let their loved ones know that they are safe, or to contact the MFA for urgent assistance.

The Singapore Embassy in Berlin is also in contact with the local authorities to ascertain whether any Singaporeans are injured or directly affected by the incident on Friday evening local time.

A gunman opened fire in a busy shopping centre, killing at least ten people including himself, Reuters reported.

Munich shooting kills at least 10 people

Click on thumbnail to view photos. Source: 

Reuters video screengrabs, / Reuters

“We are shocked and saddened by the loss of innocent lives. We extend our condolences to the bereaved families and wish the injured a speedy recovery,” the MFA said, condemning the attack which Prime Minister Lee Hsien Loong called a “senseless act”.

“We have seen so many brutal terrorist attacks in recent months, one after another. We are at risk of becoming numbed, and have to remind ourselves of the terrible human tragedy each time. Our thoughts are with the people of Germany during this time,” PM Lee wrote in a Facebook post.

Singaporeans in Munich have been advised by the to exercise vigilance, follow the instructions of the local authorities and monitor the local news for the latest updates.

Those who require consular assistance can contact the Singapore Embassy in Berlin or the 24-hour MFA Duty Office at:

Embassy of the Republic of Singapore in Berlin
Address: Voßstraße 17, 10117 Berlin, Federal Republic of Germany
Tel: +49 (0) 152 2341 2182
Email: singemb_ber@mfa.sg

Ministry of Foreign Affairs Duty Office (24-hour)
Address: Tanglin, Singapore 248163
Tel: +65 6379 8800, 6379 8855
Fax: +65 6476 7302
Email: mfa_duty_officer@mfa.gov.sg

huizhen@sph.com.sg

Raffles Money Change (RMC), a money changer censured by the Monetary Authority of Singapore (MAS) for alleged links to the flow of funds related to the 1MDB scandal, has come out to defend itself.

The company said yesterday that it “is focused on carrying out its business on the basis of high standards of honesty and integrity, corporate governance and transparency, as well as compliance with all necessary laws and regulations to ensure long-term sustainability”.

RMC operates money-changing and remittance services at its two branches, at Jurong Point Shopping Centre and The Arcade in Collyer Quay. Its headquarters at Clifford Centre undertakes remittances in major currencies across the Asia-Pacific, Europe and North America.

The MAS said on Thursday that RMC exercised weak management oversight, inadequate risk management practices and internal controls. The regulator also reprimanded a number of other financial institutions in relation to control lapses in relation to the 1MDB scandal.

In remitting US$12.8 million (S$17.3 million), RMC was also found to have failed to identify beneficial owners and to verify the authenticity of remittance instructions. RMC had also neglected its responsibility to assess if a remittance activity was consistent with the profile of the customer.

In a media statement issued yesterday, the management of RMC stated that it “has always co-operated with the MAS, assisting fully in providing any information requested for”.

RMC said: “Over the years, whenever it comes across any suspicious transactions, the RMC would report them to the relevant authorities.

“The management of RMC believes in having in place strong internal controls and risk management policies, and is constantly working to improve its compliance procedures.”

RMC added that it will continue to work closely with the MAS to address any issues as required. Meanwhile, the MAS is finalising regulatory actions against RMC.

This article was first published on July 23, 2016.
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The memberships in California Fitness are not part of the sale of the chain’s three gyms and equipment following their abrupt closure over the past week, but there is an effort to seek out a buyer who would be willing to lend a helping hand to affected members.

This is according to the fitness chain’s provisional liquidators, Ferrier Hodgson.

The recovery firm also told The Straits Times yesterday that the owner of California Fitness’ gym outlets, JV Fitness, will not be sold.

California Fitness closed down its Republic Plaza branch suddenly last Saturday, followed by its Novena and Bugis outlets on Wednesday, leaving members high and dry after having paid upfront thousands in membership fees.

Mr Tim Reid, a partner at Ferrier Hodgson, said that it is the recovery firm’s “objective to secure the co-operation of potential buyers to offer attractive membership rights to existing California Fitness members”.

So if the potential buyers, Ferrier Hodgson and the landlords of the gyms can come to an agreement, members who have had workout schedules disrupted after the gyms shut may see services offered to them in the same premises again.

Even so, other alternatives have been offered to affected members. HomeTeamNS, a non-profit organisation that recognises the contributions of police and Singapore Civil Defence Force national servicemen (NSmen), said yesterday it will offer its members and NSmen affected by California Fitness’ gym closures up to six months of free usage at selected branches of its Fitness Workz gyms.

Another gym chain, True Fitness, is offering a one-month free trial to all affected members.

However, California Fitness members who want refunds instead could find it harder to get their money back .

Gym members form the largest creditors of California Fitness in terms of size and value owed to them, said Ferrier Hodgson.

But this might not translate into a tangible advantage. Gym members are still unsecured creditors. This means they do not get priority in laying claims to any assets the company might have.

Said lawyer Mohamed Baiross: “The fact that they are a large group of creditors actually diminishes their chances of getting a substantial recovery.”

Whatever assets the troubled gym chain might have will first be used to pay off any secured or preferential creditors – which could include banks or the tax authorities. So, there is a chance there might not be sufficient funds leftover to pay each affected gym member in full, especially if any remaining funds have to be divided among many members.

Still, not all cases of establishments shutting end in defeat for consumers. When Borders Singapore closed down all its branches here in 2011, gift-card holders with the bookstore managed to get full refunds in the following year.

Still, this case is different from California Fitness’, said Mr Reid, who also handled Borders Singapore’s closure. “The gift-card holders made up a much smaller proportion of the liabilities in the Borders case,” he added.

The Consumers Association of Singapore has advised members against contacting the provisional liquidators, who already have a comprehensive list of members’ details.

This article was first published on July 23, 2016.
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