Daily Archives: 2016-12-30

Man got five months’ jail for stealing $21,776 from his mother

A district court on (30 Dec) sentenced a man who had stolen his mother's ATM card and withdrew a total of $21,776 over five months with imprisonment for five months. His sentence was backdated to Nov 8. Mohamed Nasir Salim (57), pleaded guilty to 10 out of 48 charges, including stealing his mother's POSB ATM card at the Woodlands flat …

Read More »

Inchcape: 120 employees will be retrenched from Toyota and Suzuki

In one of the biggest downsizing moves to hit the local motor industry, about 120 employees will be retrenched from Toyota agent Borneo Motors and Suzuki agent Champion Motors soon in the beginning of 2017. The number of workers to be retrenched, represents 12-14 percent of Inchcape's workers in Singapore. The Straits Times reported that the retrenchment is due to …

Read More »

Electricity tariff up by 5.6% from January to March 2017

Residents will see an increase of 5.6 percent increase in their electricity bill for the period from 1 January to 31 March 2017 in Singapore. The electricity tariff for January to March will be priced at 20.20 cents per kwh, up from the current 19.13 cents, SP Services announced today (30 Dec) in its media release. SP Services wrote the …

Read More »

So many loopholes to escape the retrenchment statistics?

By Leong Sze Hian According to the Straits Times article, “More than nine in 10 companies paid retrenchment benefits in 2015: MOM survey” on 28 Dec, It states that “The proportion of establishments paying retrenchment benefits was 90.6 per cent in 2015, although it had fallen slightly from past years, a report by the Ministry of Manpower (MOM) revealed on Thursday …

Read More »

Dentsu president to resign after company’s recruit commits suicide due to overwork

Dentsu Inc. President Tadashi Ishii said on 28 December that he will step down next month to take responsibility over the incident involving suicide of Matsuri Takahashi, a new Dentsu recruit, caused by excessive work. Labour authorities sent papers on the company to prosecutors over the 24-year-old female employee’s death. Ishii said at a press conference on Wednesday evening, “I …

Read More »

MOM: More workers laid off in 2015 as compared to 2014

Ministry of Manpower (MOM) has announced that amid softer economic conditions and ongoing business restructuring, there were more workers laid off in 2015 as compared to the numbers in 2014. 15,580 workers were laid off in 2015 while there were 12,930 who were retrenched in 2014. MOM said that in line with shorter employment tenures, the eligibility service period for …

Read More »

Commodities rebound as dollar weakens

By Margaret Yang, CMC Markets Japanese equities recorded the biggest daily loss since 8th November as yen strengthened against the greenback yesterday. The US Dollar Index plunged to 102.1 area from its recent high as US treasuries rose after strong demand for 7-year auction.  The 7-year Treasury notes were awarded at 2.284%, the highest yield since April 2014, due to  …

Read More »

AMK CPIB probe: Same conflicts of interest like Aljunied?

By Leong Sze Hian Straits Times in its article, “AMK Town Council general manager under CPIB probe” (30 Dec), states that “The general manager and secretary of Ang Mo Kio Town Council (AMKTC) has been removed from his duties and is under investigation by the Corrupt Practices Investigation Bureau (CPIB). Mr Victor Wong Chee Meng who is currently under investigation by CPIB, …

Read More »

Paul William Coutts appointed CEO of SingPost, effective from 1 June 2017

The Board of Singapore Post Limited (SingPost) has appointed Mr Paul William Coutts to the position of Group Chief Executive Officer (Group CEO), and as a Non-Independent Director of the SingPost Board effective 1 June 2017. SingPost said that Mr Coutts’s appointment is unanimously approved by the Board and has received all required regulatory approvals. It said that the appointment …

Read More »