RAFFLES Education Corp (REC) substantial shareholder Oei Hong Leong has sued the company in relation to its plan to raise its stake in a Chinese property firm .
Tycoon Mr Oei, who owns 13.05 per cent of REC, and his firm Oei Hong Leong Art Museum have commenced an originating summons in the High Court of Singapore, the mainboard-listed private education provider said in a filing late Wednesday night.
Through the lawsuit, Mr Oei is seeking to obtain a declaration that the plaintiffs are entitled to inspect certain originals or be provided with certain documents set out in paragraph 2.1 of REC’s circular dated Sept 8.
The circular was for the proposed acquisition of a 35.9 per cent interest in REC’s joint venture (JV) Langfang Hezhong Real Estate Development for about 254 million yuan (S$49.2 million) in cash.
An REC subsidiary held a 34.1 per cent interest in the Chinese property firm as at July 16, while Langfang Heying Real Estate Development owned the remaining 65.9 per cent.
RAFFLES Education Corp (REC) substantial shareholder Oei Hong Leong has sued the company in relation to its plan to raise its stake in a Chinese property firm .
Tycoon Mr Oei, who owns 13.05 per cent of REC, and his firm Oei Hong Leong Art Museum have commenced an originating summons in the High Court of Singapore, the mainboard-listed private education provider said in a filing late Wednesday night.
Through the lawsuit, Mr Oei is seeking to obtain a declaration that the plaintiffs are entitled to inspect certain originals or be provided with certain documents set out in paragraph 2.1 of REC’s circular dated Sept 8.
The circular was for the proposed acquisition of a 35.9 per cent interest in REC’s joint venture (JV) Langfang Hezhong Real Estate Development for about 254 million yuan (S$49.2 million) in cash.
An REC subsidiary held a 34.1 per cent interest in the Chinese property firm as at July 16, while Langfang Heying Real Estate Development owned the remaining 65.9 per cent.
Police are investigating an incident in which a man defecated right outside a shop along Chin Swee Road on Saturday night (Sep 26).
The incident occurred at Block 8 Jalan Kukoh at around 10.30pm.
Stomp contributor Cym , who works at the ground-floor shop, shared CCTV footage of the incident.
In the video, a man can be seen unzipping and removing his pants, then squatting down to do his business. He can also be seen tossing his underwear aside.
The man eventually gets up and puts his pants back on.
He then picks up his underwear but throws it at a potted plant, before leaving the place.
Cym said: “We were very upset to find a man’s underwear soiled with human faeces in our potted plant in the morning. We also discovered faeces outside the rear entrance of the shop.”
This prompted Cym to check CCTV footage and she was disgusted by what she saw.
The Stomp contributor added: “This uncivilised man was caught in action defecating in public.
“If he’s really so urgent and needs to defecate, go to the public toilet nearby lah, it’s less than two minutes away.
SINGAPORE: More than 1,500 companies in the professional services sector have offered about 9,000 opportunities since April this year, with 80 per cent of which are for professionals, managers, executives and technicians (PMETs) roles, said the Ministry of Manpower (MOM) on Thursday (Oct 1).
More than 1,400 jobseekers have been placed in these opportunities which include jobs, company-hosted traineeships/attachments and training courses, said MOM in its jobs situation report.
Two in three of the opportunities – about 5,870 – offered are jobs, which would be supported under the Jobs Growth Incentive (JGI) if the eligibility criteria are met.
(Source: MOM)
Announced in August, the JGI will provide “substantial salary support” to companies that continue to grow and need manpower, allowing them to bring forward hiring plans and grow their local workforce over the next six months until Feb next year, said the report.
MOM noted that about nine in 10 people firms in the sector employ come under seven subsectors. These subsections include consultancy, advertising and marketing as well as accountancy among others. And as of June this year, the sector had employed nearly 256,000 workers.
The report also noted how the COVID-19 pandemic has impacted professional services firms “unevenly”.
This has been seen in how activity levels for architecture and engineering subsector fell as a result of construction works being brought to a halt during the circuit breaker, it said.
Firms in process construction and maintenance have reduced operations to about 60 to 70 per cent and are “gradually recovering”, said MOM.
In addition, 70 per cent of law firms reported a decrease in work.
(Source: MOM)
NEW OPPORTUNITIES
However, MOM noted that the accountancy subsector was less affected as audit, accounting and taxation services are still required to meet statutory requirements.
In addition, the report noted how major consulting firms have seen growing demand for technology and cybersecurity expertise, even as conventional work has dipped.
“Clients have also turned to HR consulting firms for advice to set up effective remote working systems as well as to manage company restructuring,” said MOM.
As the subsector pivots towards new growth areas, jobseekers should be prepared to hone their skills in emerging technologies such as Cloud technology, cybersecurity and artificial intelligence.”
Non-specialised roles such as management and business consultants typically require less than five years of work experience, and offer salaries ranging from S$3,500 to S$8,500, the report noted. Candidates with specialised skills may command higher salaries.
The demand for advertising and marketing roles such as content strategists also remains “high” as companies seek to stand out among the growing number of competitors in the digital sphere, said the report.
Design services have also “gained prominence” as businesses sought to enhance their online presence and digital touchpoints, added MOM.
Thursday’s jobs situation report is the seventh of a series of weekly updates on the local labour by the MOM.
It has been doing so since mid-August, covering various industries such as the local start-up scene, biomedical sciences and tourism, as part of providing job seekers with “a comprehensive look” of work and training opportunities.
SINGAPORE: A Malaysian human rights group accusing Changi Prison of brutal execution had its proceedings against Singapore’s Home Affairs Minister K Shanmugam struck out by the High Court of Malaysia last month, said the Ministry of Home Affairs (MHA) on Thursday (Oct 1), calling the group’s legal action “baseless”.
The civil suit, filed on Jan 24, sought a declaration from the High Court indicating that Mr Shanmugam cannot take action against Lawyers for Liberty in Malaysia under POFMA.
The group told reporters then that the order was “an attempt by Singapore to encroach upon or crackdown on freedom of speech in Malaysia”.
From left: Lawyers for Liberty (LFL) Director Melissa Sasidaran, LFL Advisor N Surendran and their counsels Gurdial Singh Nijar and Ambiga Sreenevasan. (Photo: D Kanyakumari)
Lawyers for Liberty never served its court papers on Mr Shanmugam, said MHA on Thursday.
“Instead, the papers subsequently expired and, for reasons which LFL did not make known, LFL discontinued its applications to renew the papers, and to serve them on the minister in Singapore,” said the ministry.
Lawyers for Liberty’s action was subsequently struck out by the High Court of Malaysia on Sep 21, MHA added.
“LFL’s legal action was baseless, and that is shown by the fact it has now decided not to continue the legal action,” said MHA.
On Jan 16, Lawyers for Liberty released a press statement alleging brutal execution methods at Singapore’s Changi Prison.
In its statement, it alleged that prison officers were instructed to “pull the rope around the neck of the prisoner towards him” and “kick the back of the neck of the prisoner with great force in order to break it”, whenever the rope broke during a hanging.
MHA said in response on Jan 22 that the allegations were “entirely unfounded” as well “untrue, baseless and preposterous”.
Lawyers for Liberty was subsequently issued a correction direction by the POFMA office, along with three other parties – Kirsten Han’s Facebook post, an online article by The Online Citizen and a Facebook post by Yahoo Singapore.
On Thursday, MHA reiterated that the claims made by the group are “wild and completely untrue”.
“LFL’s conduct in commencing its legal action, publicising the same, and then failing to prosecute the matter, leading to its striking out by the High Court of Malaysia, is consistent with how LFL has conducted itself so far,” said MHA.
“LFL made sensational allegations against the Singapore Prison Service, and the treatment of prisoners, and promised to put forward evidence.
“But nothing was put forward to substantiate its wild and completely untrue allegations.”
“Mummies looking or [have] already [placed] your lo at nanny’s place, please check your lo every day after you bring them home! (sic)” Vanessa Van, a mum in Singapore is urging fellow parents.
Taking to a Mummies looking or already put your lo at nanny’s place, please check your lo everyday after you bring them home!
Just…Posted by Vanessa Van on Monday, September 28, 2020″>Facebook post to share what she had experienced, Vanessa said she had picked up her three-month-old son from the nanny’s last Friday (Sept 25), only to find his pacifier “very dirty and sticky”.
SINGAPORE – Singapore’s central bank on Wednesday directed embattled German payments firm Wirecard to cease providing services in the city state and return all customers’ funds.
Wirecard, which primarily processes payments for merchants and helps companies to issue pre-paid cards in Singapore, filed for insolvency in June after a 1.9 billion euro (S$3 billion) hole was discovered in its books.
Singapore police are among a number of global authorities investigating Germany’s biggest post-war corporate fraud.
“Wirecard SG has informed MAS that it is unable to continue providing payment processing services to a significant number of merchants,” the Monetary Authority of Singapore (MAS) said in a statement.
“MAS has assessed that it is in the interest of the public for Wirecard SG to cease its payments services and promptly return all customers’ funds.”
The MAS added that the actions must be taken by Oct 14.
SINGAPORE – Singapore state investor Temasek Holdings (Private) Ltd raised $2.75 billion (S$3.75 billion) from a clutch of long-dated dollar bonds, including its longest tenor of 50 years, as part of its $25 billion guaranteed global medium-term note programme.
Temasek’s move is part of a growing trend of companies in Asia selling longer-dated tenures, driven by demand from pension funds and others looking for assets that match their far-distant liabilities.
Globally, record-low interest rates have reduced the cost for companies carrying out the deals.
“There was strong support for the bonds from high-quality institutional, accredited and/or other specified investors globally,” Temasek said in a statement on Wednesday.
Temasek Financial (I) Ltd, Temasek’s wholly owned subsidiary, had launched the three tranche offering comprising a 10-year, a 30.5-year and a 50-year bond on Tuesday.
ALSO READ: 10 things we learned about Temasek’s portfolio from CEO Ho Ching’s Facebook posts
SINGAPORE: A queue of voters formed outside the Myanmar embassy in Singapore on Thursday (Oct 1) morning, marking the start of overseas voting for the Nov 8 general election.
While there is no official data, about 200,000 Myanmar nationals are estimated to be living in Singapore, according to the embassy.
First Secretary Yan Naing Khant said 34,000 nationals had registered themselves to vote in Singapore but Myanmar’s Union Election Commission (UEC) – the country’s official polls body – found only 32,000 were eligible.
The embassy has allocated 18 days for its citizens to cast their votes at its premises at St Martin’s Drive, near Tanglin Mall, in Singapore’s shopping district.
As at 8.30am, two queues of about 40 voters have formed outside the Myanmar embassy in Singapore. (Photo: Leong Wai Kit)
COVID-19 GUIDELINES
Voters have also been allocated time slots during this period so that they can comply with COVID-19 guidelines in Singapore.
“We have disseminated an advisory to voters to follow the rules of public order act and prevailing laws in Singapore; not to engage in political campaigning in public, to adhere to public law and not to wear party logos or T-shirts,” Mr Yan Naing Khant said.
He added the embassy has beefed up security for the 18 days of voting. The measures include hiring additional personnel to keep an eye on the ballot boxes.
OVERSEAS VOTING
A total of 45 Myanmar embassies, missions and consulates worldwide are preparing for overseas voting starting this week.
These include South Korea, Thailand, Malaysia, UK, US, Australia, the Philippines and China.
According to Myanmar state media, the UEC has sent 101,526 ballot papers overseas.
Two queues of voters have formed outside the Myanmar embassy in Singapore, one for Yangon voters, the other for voters from other parts of Myanmar. (Photo: Leong Wai Kit)
This is around three times the number compared to the 2015 election when the UEC received 35,000 applications for overseas voting.
The figure is a far cry from the estimated 4 million Myanmar nationals living abroad. But overseas votes have played a significant role in previous polls.
Singapore-based ISEAS-Yusof Ishak Institute’s fellow Moe Thuzar wrote in a commentary titled Myanmar’s Foreign Policy in an Election Year, that “votes from overseas Myanmar citizens helped to decide elections in favour of the NLD (current ruling party National League for Democracy) in 1990 and 2015″.
In recent months, the Myanmar authorities have been reaching out to overseas Myanmar citizens who have lost their jobs, to fly them back via relief flights – even as the country closed its borders with a ban on international commercial flights.
So far, around 17,000 Myanmar nationals worldwide have been flown home on these relief flights.
This is on top of 80,000 nationals who have been returning daily from Thailand via a land border since May 1.
This time, voters are given time slots over 18 days, versus no time slots for some four days in 2015. (Photo: Leong Wai Kit)
Myanmar’s former Information Minister Ye Htut – who served under then-president Thein Sein’s administration – told CNA the decision to engage overseas citizens was a wise one.
“[Under] the previous military government, it paid very little attention to Myanmar people who worked abroad,” Mr Ye Htut said.
“Ms Aung San Suu Kyi changed the situation and clearly said all people – whether legal or illegal workers overseas, they’re our brother and sister. So we have to look after them. I think this is a very wise decision. And this will build trust between the people and the government,” he said.
BATTLING COVID-19
Meanwhile, election activities are taking a backseat in Myanmar as the country focuses its attention on combating a second and more serious wave of COVID-19 that surfaced in mid-August.
A man walks near Sule Pagoda amid the COVID-19 pandemic after authorities announced a stay-at-home order, in Yangon, Myanmar Sep 21, 2020. (REUTERS/Shew Paw Mya Tin)
The country’s commercial city Yangon is under partial lockdown, meaning physical rallies and campaigning are banned.
The UEC has indicated on various occasions that the election would not be postponed. It said extra precautions – such as setting up more polling stations and splitting voters into shifts – will be put in place.
A retail manager has had several close shaves with food delivery riders on motorcycles on the pavement near his office at Wheelock Place in Orchard.
And Mr Nick Smith, 36, who has been working in the area for about two years, is not alone in this.
Other pedestrians have also had close encounters with the errant motorcyclists, most of whom were there to pick up food orders from Shake Shack, the popular burger and milkshake joint, in Liat Towers.
As there is no direct road access to the outlet, the pavement is the fastest, most convenient way for the food delivery riders who are usually in a hurry.
When The New Paper staked out the pedestrian area outside Wheelock Place and Liat Towers for two hours at lunchtime on Monday, about 20 food delivery riders were seen riding and parking their motorbikes on the pavement.
There are carparks in the malls nearby, as well as an open-air carpark at Angullia Park next to Far East Shopping Centre. Some malls, like Liat Towers and Far East Shopping Centre, do not have motorcycle parking.
But four riders TNP spoke to were not keen on using the carparks.
