...2015/6/10 www.straitstimes.com/st/print/2798367 « Return to article Print this The Straits Times www.straitstimes.com Published on Sep 04, 2014 Singapore retains spot as second-most competitive economy By Yasmine Yahya, Assistant Money Editor Singapore retained its position as the world's secondmost competitive economy this year despite concerns about business costs and tightening labour policies, according to the World Economic Forum (WEF) yesterday. This is the fourth year running that Singapore has come in second behind Switzerland, which maintained its pole position in the annual Global Competitiveness Report, a ranking of 144 economies that is seen as the most comprehensive assessment of its kind. The WEF said Singapore fared well across all 12 factors assessed in the study, such as infrastructure, health and education, and technological readiness. The country scored especially well in terms of goods and labour market efficiency and financial market development, it added. "Singapore possesses world class infrastructure, with excellent roads, ports and air transport facilities," the WEF said. "Its economy can also rely on a sound macroeconomic environment and fiscal management its budget surplus amounted to 6.9 per cent of GDP (gross domestic product) in 2013." The WEF said Singapore's competitiveness is enhanced by its strong focus on education, which has translated into a steady improvement in higher education and training...
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...itself and the widespread acceptance of its outcome are considered a success for preventive diplomacy. Central America What: Armed conflicts How: The United Nations was deeply involved in the search for peace in Central America, whose armed conflicts were brought to end in the 1990s. UN observers monitored the 1990 elections in Nicaragua. UN envoys helped forge landmark peace agreements in El Salvador and Guatemala, and in both countries UN field missions managed by the Department of Political Affairs verified the implementation of the accords. Evaluation: It is difficult to completely eradicate this conflict in Central America, however, it has helped to ease the tensions of this conflict. Singapore What: Singapore race riot 1964 How: The Singapore government intervene by making numerous arrests under the Internal Security Act (ISA), for those involved in subversion and rioters who were members of secret societies....
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...William Angliss Institute Final Report Integrated Resorts The Report for Gaming Operations Subject By Quynh Nhu Dang 28 August 2013 Teacher: Simon Hamm Table of Contents Introduction3 Body3 1.An overview of what is Integrated resort a) Sun city – South Africa 2. An overview of the Singapore Government’s approach to Integrated Resorts b) Singapore + Marina Land Bay + Sentosa 3.Objectives and aims, what will happen in the future ? . Discussion and Conclusion Recommendations and Implementation . References Integrated resorts I. Introduction The purpose of this report was to analyse the definition of the topic Integrated resort, also to explain different fields including geography locations, operational aspect and business entity. According to Nunkoo and Ramkinsoon (2010), the implementation of integrated resorts has been regarded as an option to operate sustain the economy and cash flows .While investigating these aspects of integrated destinations, it is also very important to consider the standard features and benefits. The information used will depend consisting of online website and individual knowledge. The intention of society dissection is to specify and provide ways to enhance the life of the citizens and the socio-economic requirements of the community (Board of Investment, 2009). Gaming areas, restaurant, hotels, retail shopping and other tourist attractions are consisting to be one: Integrated resort. When the term “IR” appears...
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...and saw an increased competition in their local market. Similar thing happened to European Union when they disbanded their country specific barriers to free market competition among air carriers. Asia also followed the same route. Some regions in Asia quickly deregulated themselves. Many small national carriers in Latin America were privatized. The emergence of free market competition was expected to be more dominant as many European Nations were discussing implementation of opening transatlantic market with USA where landing rights would be determined by free market forces, rather than regulation. The countries signed bilateral agreements between countries that enabled the airlines of those countries to provide landing and takeoff facilities for air carriers of those countries. Privatization and deregulation made the airlines take a strategic positioning in the industry. They now had increased global reach and less regulation, so they could give more services in fewer prices.. Many carriers had to improve their services to keep up with the market. Profit margins were getting lower as the airlines were engaged in fare wars trying to give the best possible service in cheaper price. As global...
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...Introduction: The Republic of Singapore was known as a thriving British trading port back in 1819. She then merged with Malaysia in 1963, but was expelled from the federation in 1965. Singapore, without natural resources, was doomed to fail in eye of neighbouring nations. But has transformed from third to first world standards in a very short period of time. Singapore also became one of the world’s most affluent nations with important trading links such as one of the busiest ports in the world and best airport infrastructure in the world for years running. Singapore’s GDP per capita is comparable to first world European nation’s counterparts as well. Singapore’s economy is largely dependent on exports, some examples are IT-related, user electronics products, pharmaceuticals, and financial services industries. For instance, the republic has one of highest volume in export refineries around the globe, oil exports accounted about 68.1m tons in 2007. The O&G industry accounted for 5% of Singapore’s GDP as well. (Economic Development Board, n.d). According to Strait Times: Singapore secured position as the second freest economy in the world in 22 straight years, the acceptance to global trade & investment remains to contribute a sturdy support for economic dynamism in Singapore. One of the key events happened past decade in Singapore is the collapse of Lehman Brothers that leads to financial crisis in 2008. The Republic takes the lead among the East-Asian countries...
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...MANAGING WATER SHORTAGE CRISIS Position Paper Prepared for Symposium Committee By April 2011 Introduction On Earth, only less than 1% of all water available is suitable for human consumption (Vitzthum & Atkins, n.d.). This emphasises on the scarcity of drinkable water and highlights the importance of not just making water available, but also making it safe for drinking. In the event of a natural disaster, water shortage is of major concern to affected countries. For Northern Ireland, water pipes and ice thaw after each passing winter, causing burst in pipes supplying water to households. Adding on, in 2011, Japan suffered from an earthquake which disrupted their water supply. These are instances of water crisis which can take place spontaneously. Water crisis can strike in any form and at times when it is least expected, even in Singapore, where it is ranked 160 out of 169 globally, with little natural water resource available (Nationmaster, n.d.). During World War 2, Japanese forces seized control of the main water supply in Singapore leading to the downfall of Singapore (Paterson, n.d.). This exposes the vulnerability of Singapore to water crisis. Currently, Singapore has to rely on the 4 National Taps to provide water for her population. Therefore, terrorist attacks on the 4 National Taps can be seen as threats which can lead to emergency water shortage. Although there is a low possibility of natural disasters occurring in Singapore, there is no guarantee...
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...earned in Europe, fifteen percent in Japan, seven percent in Asia and Pacific regions, and the remaining five percent of sales are from the rest of the world. Apple, a now multinational billion dollar company has come a long way from being the company founded with $1300. In 1980, Apple became publicly traded. On the day Apple went public their stock rose 32% making approximately 40 employees instant millionaires. Not only did the two found Steve Jobs and Markkula become instant millionaires that day, but the million dollar salaries equated to roughly a 220,700% return on investment. The decision to go public was based on several advantageous premises that would all lead to success by raising awareness and capital. The Apple Inc. management team believed that going public would build awareness for the company,...
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...in your answers. B. Practice answers for closed book, class room setting. C. Suggested length: minimum one page; maximum two pages per question. D. You would answer 5 questions or Problems in two hours in final exam. Questions 1. Ethical Standards a. Can a multinational firm adopt varying ethical standards [such as with regard to product safety (Pinto), employee benefits (Nike) and “kickbacks” to win business (HP)] in its global operations? Why or Why Not? Discuss in depth based on the goals of multinational corporations? (Be sure to identify the merits and demerits/pitfalls for both options). b. How do corporate governance and financial management differ for US based corporations and global multinational corporations?...
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...ERASMUS MUNDUS MSC PROGRAMME COASTAL AND MARINE ENGINEERING AND MANAGEMENT COMEM MEGA CONTAINER SHIPS: IMPLICATIONS TO PORT OF SINGAPORE City University London 25 June 2012 Liyenita Widjaja 110047669 (City University) 4128761 (TU Delft) The Erasmus Mundus MSc Coastal and Marine Engineering and Management is an integrated programme organized by five European partner institutions, coordinated by Delft University of Technology (TU Delft). The joint study programme of 120 ECTS credits (two years full-time) has been obtained at three of the five CoMEM partner institutions: • • • • • Norges Teknisk- Naturvitenskapelige Universitet (NTNU) Trondheim, Norway Technische Universiteit (TU) Delft, The Netherlands City University London, Great Britain Universitat Politècnica de Catalunya (UPC), Barcelona, Spain University of Southampton, Southampton, Great Britain The first year consists of the first and second semesters of 30 ECTS each, spent at NTNU, Trondheim and Delft University of Technology respectively. The second year allows for specialization in three subjects and during the third semester courses are taken with a focus on advanced topics in the selected area of specialization: • Engineering • Management • Environment In the fourth and final semester an MSc project and thesis have to be completed. The two year CoMEM programme leads to three officially recognized MSc diploma certificates. These will be issued by the three universities which...
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...Introduction and Company Profile Singapore airline (SIA) was incorporated as a wholly owned subsidiary of the Singapore government on 28 January 1972 as a public company with limited liability. It is one of the most successful airlines today having the most recent and youngest fleets in the world. It has evolved from being a regional airline to one of the top ranked airlines in the world at present. As on March 1999, it carried 525 passenger flights a week out of Singapore. It operates in four segments namely airlines operations (which includes passenger and cargo air transportation), engineering services (airframe maintenance, line maintenance, fleet management programs etc.), training of pilots and tour wholesaling, Cargo operations (includes cargo transportation and related activities). It has a worldwide coverage including 110 cities in over 42 countries. It is dedicated to providing air travel services of the highest quality to its customers and also providing maximum benefits to its employees and shareholders. It has a first mover advantage in providing various additional services which are as follows: - Free headsets, choice of meals and drinks during 1970’s. - Introduction of satellite-based telephones - Involving one of the best panel of chefs for in-flight meals - First to operate world longest flight (Singapore to Los Angeles) - On demand inflight audio and video services In this report, four significant operations aspects of Singapore Airlines will be discussed...
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...Reference for Business websites. History of Marriott International, Inc Marriott International, Inc.--formed in 1993 when Marriott Corporation split into two separate companies--is the world's leading lodging and contract services company. Marriott International has two operating groups: Marriott Lodging, which generates about 60 percent of company revenue, and the Marriott Service Group, its contract services operation. Marriott Lodging manages or franchises more than 1,350 lodging properties under 10 hotel brands worldwide. It also operates more than 30 timeshare vacation properties through Marriott Vacation Club International, and 25 U.S. conference centers through Marriott Conference Centers. The Marriott Service Group includes Marriott Management Services, which...
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...the small-scale retail sector in Singapore Loo Lee Sim Introduction Performance of the retail sector Singapore's retail sector has been in the doldrums over the last few years. The retail sales index shows sales increasing very slowly over the past three years (Figure 1). Except for festive periods (Christmas and Chinese New Year) and the period of the great Singapore sale (June/July), sales have been poor. Compared to sales, the supply of retail space has been increasing more rapidly. Figure 2 shows that a great deal of retail space has come on-stream over the last few years. By the end of 1997, an estimated 185,880 square metres were released (Urban Redevelopment Authority, 1997). The amount of retail space released over the last few years has led to a steady fall in the occupancy rate and this will be aggravated by another 195,170 square metres coming onstream from 1998-2001(Urban Redevelopment Authority, 1997). In addition to the glut in retail space, a decline in tourism will also affect the retail sector adversely. Tourist arrivals for the first quarter of 1998 declined by nearly 20 per cent compared to the first quarter of 1997. Arrivals from the Asian region have fallen as a result of the currency crisis. The haze, caused by fires in Indonesia and Malaysia, has also deterred visitors from Europe, the USA and elsewhere. In view of the gloomy prospects facing the retail sector, it is timely to review the measures taken by the Singapore Government to restructure the sector...
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...required to develop respective business continuity planning in accordance to the 7 high-level principles. There are various incidents within the last decade that has resulted in major operational disruption to financial industry. However, with the guidance of the 7 high-level principles, most of the participants were able to cope with crisis well and survive through the crisis. In this report, several case studies were researched and commented on their business continuity planning. Subprime crisis which caused the collapse of Lehman Brothers has caused a significant stir in the financial industry. Many counterparties ended up with huge exposure and default due to the fall of Lehman Brothers. However, Euroclear was able to manage the crisis well after it activated its crisis management plan which has been developed before the crisis. Similarly, terrorist’s attack on New York World Trade Center has not only caused major security issues but has also significantly affecting the financial industry. Bank of America and Deutsche Bank were the direct victims of the terrorist attack. Both banks remained sound operation and survived through the crisis due to well business continuity planning. Besides, Hurricane Gustav that caused massive destructions in United States in 2008 has crippled the local banking system in Louisiana and Mississippi. BancorpSouth Bank quickly activated its business continuity plans shortly after the announcement of the hurricane. Various actions and measures...
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...Singapore Airlines’ history can be traced back to 1 May 1947, when a Malayan Airways Limited (MAL) Airspeed Consul took off from Singapore Kallang Airport on the first of three scheduled flights a week to Kuala Lumpur, Ipoh and Penang. · Over the next five years, larger capacity DC-3 aircraft were introduced. This meant faster and more comfortable flights, and the extension of services to destinations in Indonesia, Vietnam, Burma (now Myanmar), North Borneo (Sabah) and Sarawak. · Inflight refreshments improved from the original thermos flask of iced water to sandwiches, biscuits and cold cuts plus a choice of hot and cold drinks, and alcoholic beverages served by a lone hostess. Known as “female pursers”, these hostesses are the forerunners of today’s Singapore Girl. In May 2008, Singapore Airlines created history again by being the first carrier to operate an all-Business Class service between Asia and the USA with its launch of all-Business Class non-stop flights from Singapore to New York (Newark). After operating as Malaysian Airways and then as Malaysia-Singapore Airlines, SIA was officially launched in 1972. Today SIA’s network reaches out to 93 destinations in 42 countries, serving Asia, Europe, North America, the Middle East, the South West Pacific and Africa. Its regional airline subsidiary SilkAir serves 21 destinations in 8 countries. SIA has also created a number of strategic alliances with other major world airlines to serve other markets jointly. Remarkably for...
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...Introduction This analysis of the LBO of Amtek Engineering Limited (“Amtek”) in 2007 is noteworthy, primarily because it is one of the more recent example in Singapore of a leverage buyout of a public company involving private equity players , and it showcases a example of how private equity firms typically restructure and streamline the acquired company, subsequently executing their exit strategy via an initial public offering. In this paper, I will first provide a background on the leverage buyout and privatization of Amtek in 2007. This will be followed by an elaboration on the strategic, operational and organizational restructuring measures implemented by the new owners. Lastly, we shall examine why the exit strategy through an IPO in 2010 was not well received by retail and institutional investors, resulting in a pullback of the targeted IPO proceeds and a languishing first-day stock price. Background Amtek was founded in Singapore as Metaltek Engineering Private Limited in 1970. With a core business in precision metals engineering and metal stamping, Amtek was formed during Singapore’s rapid industrialisation period in the 1970s. In 1987, it was listed on the Stock Exchange of Singapore. As an engineering company that did not have an exciting business or product, Amtek was profitable but primarily stayed off investors’ radar for many years. On 22 May 2007, Metcomp Holdings, a private equity partnership between Britain's CVC Capital Partners Asia Pacific, Standard...
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