Conflicts in the Middle East may be far away, but they resonate with many in South-east Asia, including Singaporeans, said Senior Minister of State Maliki Osman.

But there is a risk of Singaporeans, especially the Muslim community, being drawn into the narrative of sectarian strife, given the geopolitical complexities involved, he added.

He asked Singaporeans to be careful, saying that while some conflicts are historical and longstanding, others are driven by current regional political rivalries.

“Singaporeans have always displayed tolerance for all religions and should continue to do so… We should be careful not to be drawn into these conflicts that are exploiting religion for political ends,” he said in response to MPs’ questions during the debate on the Ministry of Foreign Affairs’ (MFA) budget.

Dr Maliki noted that one longstanding conflict is the Israeli-Palestinian one.

Singapore’s hope is for both sides to reach an agreement so that Israel and Palestine can live side by side in peace and security, he said.

He stressed: “Singapore’s position on this has been consistent. We support the rights of the Palestinian people to a homeland.”

Singapore has voted for several Palestinian-related resolutions at the United Nations General Assembly, and has also provided aid, such as a $5 million assistance package, for Palestinians to rebuild their lives and develop their economy.

“As a friend to Israel and Palestine, we urge both sides to engage in direct negotiations and to refrain from taking any unilateral actions to change the status quo, including through acts of violence,” he said.

Turning to other conflicts, Dr Maliki said the situation in Yemen, Libya, Syria and Iraq is also of deep concern, given the humanitarian toll and the threat posed by terrorist groups like the Islamic State in Iraq and Syria (ISIS).

Singapore welcomes the efforts mediated by the United Nations to seek a political solution to the conflicts, but recognises that the process will not be easy because of geopolitical complexities, he added.

He said the leadership role of the United States and other major powers will be critical in pushing the negotiating process forward.

Singapore and Middle Eastern countries share a common goal of combating religious extremism, he added.

He said he had met religious scholars in the Middle East who “categorically reject violence in the name of Islam”, and invited them to visit Singapore to share their experiences.

Singaporean students pursuing Islamic education in the Middle East also play an important role as they can apply what they learnt there to the multiracial and multi-religious context here, he added.

Dr Maliki also cautioned against viewing the entire region through the same lens, adding that there are still economic opportunities there. Singapore will continue to co-operate with the Gulf Cooperation Council, Iran and Egypt, he said.

This article was first published on April 9, 2016.
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Have an extra $5.5 million lying around the house? That’s exactly how much you will need if you decide to get a Princess 75 motor yacht. This super yacht made its debut at the Singapore Yacht Show 2016 that is now on until Sunday, Apr 10.

The hefty price is not really surprising since Princess Yachts have become synonymous with the finest in luxury motor yacht design, and is part of the Moët Hennessy Louis Vuitton family.

The yacht is specially designed to be enjoyed with friends and family. Advanced technology has allowed Princess Yachts to produce a lighter hull than its competitors. This means less fuel burned and more cost-efficiency because she’s lighter as well as improved manoeuverability and speed.

The yacht is also fully customisable which makes it a good option for fussy buyers.

Sean Stratton, general manager in the Asia/Pacific region for Princess Yachts said, “I feel that all boats have a personality and the Princess 75 is definitely a very ‘homely’ boat”.

From $800,000 to $5.5 million boats at Singapore Yacht Show 2016

Click on thumbnail to view photos. Source: 

AsiaOne, Princess Yachts

He told AsiaOne that the boat is specifically designed for the Asian market since Asians are thought to be generally closer to their families and believe in “family time”.

This year is a special one for Princess Yachts as they celebrate their 50th anniversary. To commemorate their birthday, they restored the first model produced by them – Project 31.

The company welcomed back some of the original craftsmen who worked on the first model to work with their apprentices at their shipyards.

Not only did they restore the yacht back to its formal glory, but also made some major improvements such as replacing the old engine with a newer one, and replacing older parts with stronger and lighter materials.

Project 31 debuted at the Cannes Yachting Festival last September and is currently on a world tour, and in Singapore. Visitors to the Singapore Yacht Show can check it out among the dry dock displays.

However, if you don’t have millions set aside for a luxury yacht, you can also get one for $800,000, and still enjoy royalty treatment.

Cranchi is a family business based in Italy which prides itself on the cost efficiency of its products as well as its affordability.

Hong Seh has a long standing partnership with Cranchi and work together to provide quality service at an affordable price for yacht owners in Singapore.

April 7, also the opening day of the Singapore Yacht Show, marks the launch of the new 43 Eco Trawler which is approximately 43 feet, or 13 metres, in length. The size of the trawler enables easy navigation around a marina – in this case, One Degree 15 Marina at Sentosa, where the Yacht show is being held.

Cranchi expects it to be a hit among visitors at the Singapore Yacht Show because of its compact size and affordability. The 43 Eco Trawler has also won the European Powerboat of the Year 2015 award, in the category up to 45 feet.

“The launch of the new 43 Eco Trawler enables Singaporeans to enjoy luxury boating at a reasonable price as well as less issues involving maintenance with the support of Hong Seh”, said Stefano Luraschi, sales and marketing manager for Cranchi.

While Cranchi supply the yacht, Hong Seh provides the service. This means providing insurance, licensing, registration of the yacht, as well as pretty much whatever the customer needs. Hong Seh follows a “pay as you use” policy.

“I started this system because I bought a boat myself and I didn’t have anyone to show me how to make full use of it, which made me really annoyed, said Edward Tan, executive director of Hong Seh Motors Pte Ltd.

“There is really no point in owning a yacht if owners have no idea how to use it; we are there to show them how by helping them out should they encounter any problem with their yacht”, added Mr Tan.

The Singapore Yacht Show is being held at One Degree 15 Marina at Sentosa until Sunday, Apr 10. Find out more about the show here, what else is on display here, and where the after-parties are at here.

ryanho@sph.com.sg

Singapore has confidence in India’s growth and wants to increase collaboration with the South Asian country in areas such as skills development and urban infrastructure, Singapore Deputy Prime Minister Tharman Shanmugaratnam told a symposium in Mumbai.

“Macroeconomic stability” has returned to India, Mr Tharman noted, adding that the two countries can learn from each other through deeper collaboration.

“It frankly gives me confidence in India, not just based on what has been happening in the last few years of GDP growth above 7 per cent, but confidence that this is now a new journey that we in Singapore want to be part of, contribute to and want to benefit from at the same time,” he said, listing financial connectivity, air connectivity, education and skills and smart cities as areas of further collaboration.

He also noted that the focus in countries should be on “fundamentals of the real economy which have to do with skills, technology, and connectivity”.

Mr Tharman, who is also Coordinating Minister for Economic and Social Policies, was speaking at the Singapore Symposium on Partnering for Growth in Uncertain Times yesterday.

About 250 mostly business leaders and policymakers were at the event organised by the Institute of South Asian Studies (ISAS) of the National University of Singapore. Its local partner was the Confederation of Indian Industry.

Singapore and India have close political and economic ties which grew after they inked a Comprehensive Economic Cooperation Agreement in 2005. Singapore is among the top foreign investors in India, contributing US$5.98 billion (S$8 billion) in foreign direct investment in 2014.

Recent collaborations include developing two townships and setting up a skills centre in the northern desert state of Rajasthan and helping southern Andhra Pradesh state to build its new capital city.

Mr Tharman, who had an interactive session with India’s central bank governor Raghuram Rajan, called for greater coordination against exchange rate volatility.

“We can’t keep hoping that the US Fed will postpone normalisation of interest rates,” he said.

“Emerging markets especially will be on the receiving end of the volatility in exchange rates and capital flows,” he noted.

“So what we need, for a period, is some form of coordination with regard to the major exchange rates.”

Mr Tharman’s remarks came before Group of 20 officials meet in Washington next week to discuss the state of the global economy.

Competitive currency devaluation has been a key area of discussion and an area particularly worrying for emerging economies.

Mr Rajan, who noted that the Reserve Bank of India had intervened to reduce volatility in the rupee, said India’s aim “was to make the exchange rate less and less an issue that investors have to worry about”.

He said he appreciated some of the steps taken by Singapore, highlighting in particular the govern- ment’s move to set aside money for the education of Singaporeans.

The Singapore Symposium has been a forum for discussions on bilateral and world issues.

The first two editions were held in New Delhi in 2009 and 2012 and helmed by former prime minister Lee Kuan Yew and Prime Minister Lee Hsien Loong, respectively.

In the wake of the leak of the so-called Panama Papers, which showed that about 500 Indians had offshore assets, the issue has been in focus in India.

Fielding a question on whether Singapore is emerging as a tax haven for Indians, Mr Tharman noted that the Republic is an open country.

“Singapore is totally open to scrutiny.

We are not some shady offshore centre. Everyone should be open to scrutiny, and that includes the state-level jurisdiction within the US. We don’t protect any holy cows in Singapore,” he said.

This article was first published on April 9, 2016.
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