/qresearch/ -  Q Research

https://www.straitstimes.com/asia/singapore-china-ties-set-to-be-re-energised-chinese-ambassador

Singapore-China ties set to be re-energised: Chinese ambassador

A ‘new atmosphere’ of cooperation is expected with Lawrence Wong having taken the helm as PM

Yew Lun Tian

02 OCT 2024

Ties between Singapore and China, already substantive, are expected to be re-energised with Mr Lawrence Wong taking the helm in Singapore as its new Prime Minister, said China’s Ambassador to Singapore Cao Zhongming.

Already, preparations for a top-level meeting between both sides that is happening later in 2024 are at full steam, and Mr Cao says there will be “fruitful results”, particularly in the areas of green development, the digital economy, healthcare and education.

Speaking to The Straits Times ahead of the Joint Council for Bilateral Cooperation (JCBC) meeting in Singapore, the envoy noted that PM Wong is no stranger to managing ties with China, having co-chaired the last round of JCBC meetings in Tianjin in December 2023 when he was Deputy Prime Minister.

https://www.channelnewsasia.com/singapore/harmful-content-online-new-agency-cyberbullying-4603406

New Singapore government agency to tackle online harms such as cyberbullying, sharing of intimate images

Victims can submit an application to the agency, which will then order perpetrators and social media platforms to stop the online harm.

Justin Ong Guang-Xi

Matthew Mohan

01 OCT 2024

SINGAPORE: A new Singapore government agency will help victims quickly put a stop to online harms instead of solely depending on the usual court-based process.

Victims of such acts – which include cyberbullying and non-consensual sharing of intimate images – will be able to apply to the agency to seek redress.

It will then act on their behalf to order perpetrators and online service providers, such as social media platforms, to stop the online harm.

In a speech at the Punggol Digital District on Tuesday (Oct 1) to launch the Smart Nation 2.0 initiative, Prime Minister Lawrence Wong said that the goal is to support victims with "more timely and effective relief".

"All victims of online harm want the damaging content online to be removed quickly and permanently. Currently, victims can apply to court for a protection order, or make a police report. But legal and criminal proceedings can take time," he added.

"Another way is to turn to online service providers for help. But not many will know how to do so. And we’ve also heard feedback that even if you do, the companies may take a while to respond, and sometimes do not even act on these requests."

As such, victims must be able to turn to a "trusted source of support, who can act on their behalf to direct perpetrators and service providers to put a stop to the harms," the prime minister added.

The move is part of several initiatives under the refreshed Smart Nation 2.0 strategy, which include a S$120 million (US$92 million) investment in artificial intelligence to aid in scientific research and a fellowship for educators in developing digital proficiency.

Smart Nation was first launched in 2014 under then-Prime Minister Lee Hsien Loong, and has served to improve the lives of Singapore residents through technology, said the Ministry of Digital Development and Information (MDDI).

New, technology-driven challenges have since emerged, posing threats to social cohesion, livelihoods, safety and well-being, the ministry added.

NEW AGENCY AND NEW LAW

The new outfit to combat online harms will be introduced by MDDI in collaboration with the Ministry of Law.

Last year, Law and Home Affairs Minister K Shanmugam called for more laws to empower victims of harmful online content to take action and protect themselves.

“Societies all around the world, including us, are behind the curve in dealing with this effectively,” he said then.

An MDDI survey this year showed a rise in harmful social media content. It found that among those who reported harmful content on social media, eight in 10 experienced issues with the reporting process.

“Time is of the essence as online harm can easily go viral, amplifying the effect on victims,” said the ministry.

It added that it will focus on the "most serious and prevalent online harms" affecting victims in Singapore.

The new agency will share similarities with Australia's eSafety Commissioner, which investigates cyberbullying of children, adult cyber abuse, image-based abuse such as non-consensual sharing of intimate images, and the propagation of illegal and restricted content.

Victims of online harms in Australia can submit a report to the Commissioner, who will then act if it meets the threshold for action, similar to how the new Singapore agency will operate.

In tandem with this new agency, MDDI also intends to introduce new legislation to allow victims of online harms to seek civil remedies from their perpetrators.

More details will be shared in the coming months, said the ministry.

https://www.thespiritsbusiness.com/2024/09/singapore-alcohol-digitisation-benefits-consumers/

Singapore consumers wants ‘smart’ products

According to analytics company Global Data, the digitisation of alcoholic beverages in Singapore is helping consumers to make informed purchase decisions.

Miona Madsen

30 SEP 2024

The alcoholic beverages industry in Singapore is witnessing a broad trend of digitisation, where traditional practices are evolving to incorporate technology for greater consumer awareness and responsibility.

Global Data said the alcoholic drinks industry is catering to a tech-savvy audience and responding to the growing demand for accessible product details by offering essential information in a convenient digital format.

Biswarup Bose, lead consumer analyst at Global Data, commented: “In a tech-driven society such as Singapore, where smartphones and digital services are widely used, digital labels via QR codes offer a quick and convenient way to access detailed product information. This aligns with consumers’ preference for immediate, on-demand access to data.”

The consumer survey conducted in Singapore by Global Data had 500 respondents.

Bose continued: “The Global Data 2024 Q2 Consumer Survey corroborates this trend, where 61% of respondents in Singapore stated that their product purchasing decisions for food and drinks are either always or often or somewhat influenced by how digitally advanced or ‘smart’ the product and service is.

“Manufacturers are introducing digital labels, accessed via QR codes, enabling consumers to easily obtain detailed product information through their mobile devices, enhancing engagement and transparency. For instance, Pernod Ricard, a leading alcohol producer, has introduced a digital label initiative in Singapore to meet consumers’ growing demand for more accessible product information and encourage healthier drinking practices.”

Pernod Ricard introduced its digital label system in 2022 to improve the company’s transparency on product content and health information.

https://www.channelnewsasia.com/commentary/singapore-youths-suicide-risks-prevention-signs-silence-stigma-conversation-4639156

Commentary: Suicide is a problem among youths in Singapore. Let’s talk about it

Recognising when a young person is losing hope is essential, and this involves being alert to the warning signs of suicidal behaviour, says psychiatrist Dr Jared Ng.

Jared Ng

03 OCT 2024

SINGAPORE: I’m going to talk about something uncomfortable. Suicide.

This is a topic many avoid talking about, avoid writing about.

It’s a topic that’s unsettling. We don’t want to think about it happening - certainly not to anyone we know. There’s also the valid concern of contagion and the responsibility of protecting vulnerable individuals.

Yet, those of us in mental health and suicide prevention know that suicide is a critical concern.

The conversation must be had. Because suicide is preventable, and talking about it can save lives.

In 2023, a total of 322 people in Singapore took their own lives. This is the lowest figure since 2000, and a 32.4 per cent drop from 2022.

The decline in suicide numbers is certainly encouraging but special attention must be paid to young people, for which suicide is now the leading cause of death.

In 2023, individuals under 29 years old accounted for nearly 30 per cent of the suicides, with almost one-third between the ages of 10 and 19.

In line with the theme for World Suicide Prevention Day, observed annually on Sep 10, there’s a need to change the narrative - or the silence, rather - surrounding suicide, and shift the focus towards equipping youths with the hope, resilience and resources to manage life’s stressors.

However, the challenge lies in the stigma surrounding suicide. A Singapore Management University study in April found that only one in three Singaporeans would step in to help someone who is suicidal, with seven in 10 respondents fearing they might make things worse.

UNDERSTANDING TODAY’S YOUTH

To break this stigma, we must first understand the stressors that young people in Singapore and globally grapple with - factors that can either build resilience or push them towards despair.

By speaking openly, we can show youths that support is available, and they don't have to face their struggles alone.

According to the first nationwide survey on youth mental health by the Institute of Mental Health (IMH) released on Sep 19, about one in three people aged between 15 and 35 years in Singapore has experienced severe or extremely severe symptoms of depression, anxiety or stress.

Aside from stressors such as academic expectations, social relationships and personal identity exploration, youths of today face pressures that the older generations did not - that is, social media.

Platforms like Instagram and TikTok can foster creativity but often amplify feelings of inadequacy through comparisons. Many measure their self-worth against the curated lives they see online, leading to “social media envy”.

Cyberbullying is another stressor. The anonymity of the internet allows bullies to target others with little fear of consequences, leaving victims isolated.

While many young people cope well, some struggle due to underlying mental health conditions, family instability, or lack of social support.

https://asia.nikkei.com/Spotlight/Cybersecurity/Singapore-ups-digital-strategy-to-tackle-deep-fakes-security-threats (archive: https://archive.ph/Bp9wR)

Singapore ups digital strategy to tackle deep fakes, security threats

Plans include new laws and agency to protect victims of online harms

TSUBASA SURUGA

01 OCT 2024

Singaporean Prime Minister Lawrence Wong gives a speech at a launch event for the country's new Smart Nation strategy on Oct. 1. (Ministry of Digital Development and Information)

TSUBASA SURUGA, Nikkei staff writerOctober 1, 2024 23:21 JST

SINGAPORE – The Singaporean government has revamped a plan to enhance its digital policies as the country faces a multitude of growing threats, from deep fakes to online scams and disruptions at data centers.

"The digital landscape today is vastly different from a decade ago," Prime Minister Lawrence Wong said in a speech on Tuesday as he announced the latest Smart Nation digital strategy. "For our next phase … we aim to sharpen our focus and use technology more effectively to transform our future and shape our nation together."

Singapore will create an agency to resolve the most pressing harms like cyberbullying and sexual harassment online, Wong said. The new body, the timing for which was not announced, will act on behalf of victims, pushing perpetrators and online service providers to put a stop to the online harm quickly.

Today, victims can file police reports and apply for protection orders at courts, Wong said, but the new agency will streamline the process. A government survey last year found 8 in 10 of those who reported harmful content on social media sites experienced issues with reporting.

"We have enhanced our laws over the years to punish perpetrators and protect vulnerable victims," Wong said. But more work remains, he said, so that damaging content online can be "removed quickly and permanently."

Another concern involves the rise of deep fakes, Wong said, which have become more prevalent with the breakthroughs in generative artificial intelligence. Singapore will require certain social media services to enact measures to prevent abuse of digitally manipulated content.

The new measures are part of a revamp of Singapore's Smart Nation strategy, which was first announced by then-Prime Minister Lee Hsien Loong in 2014. The city-state's plan "focused on building up capabilities," Wong said, and encouraged the use of technology from digital payments to government services, health care and transportation.

A decade on, Singapore ranks among the highest globally in digital infrastructure, with one of the largest data center hubs in the region.

"Nearly all government services are digital," Wong said. This agility was displayed during the pandemic, he said, when Singapore set up a vaccine appointment system in under a month and facilitated shots for over 90% of its population in one year.

These digitization efforts have become a model for regional economies. At airports, Singapore is among the first to offer passport-free immigration clearance, while the use of biometric systems pushed countries like Malaysia and Thailand to install similar clearance. Japan has looked at Singapore to learn from its national digital identification scheme called Singpass.

In Malaysia, home to a fast-growing Southeast Asian data center hub, the government plans to create a cloud policy, Prime Minister Anwar Ibrahim said Tuesday.

Amid a wave of investments by global tech companies into the country, Malaysia plans to make public services more efficient and enhance data security. The country also will introduce regulations to encourage the ethical use of AI, Anwar said.

The wide, rapid adoption of digitization in Southeast Asia brought new challenges and threats, including disruptions at critical infrastructure like data centers. In Singapore last year, a four-hour data center outage caused by a cooling failure resulted in the widespread disruption of banking services for DBS and Citibank.

As Singapore and other regional economies like Malaysia grow into a global hub, such outages or failures will affect a much wider population.

Wong said Singapore intends to introduce legislation next year to improve the resilience and security of key digital infrastructure and services. This legislation will go beyond cybersecurity to address a broader set of security risks, such as technical misconfigurations to physical hazards including fire and cooling system failures.

"Recent incidents around the world have shown us that digital disruptions can severely attack lives, leaving hospitals, airports and businesses unable to function," Wong said. "So we must ensure that the digital systems we rely on, like our data centers, are resilient and able to withstand cyberattacks and disruption."

https://asia.nikkei.com/Business/Finance/Singapore-s-Sea-accelerates-digital-bank-push-in-Thai-license-bid (archive: https://archive.ph/HCPVn)

Singapore's Sea accelerates digital bank push in Thai license bid

Tech group also entering Malaysia following Singapore, Indonesia, Philippines

TSUBASA SURUGA

APORNRATH PHOONPHONGPHIPHAT

30 SEP 2024

SINGAPORE/BANGKOK – Singaporean tech group Sea is making another bid in its digital banking venture, applying for a license in Thailand after launching the business at home and entering several other Southeast Asian countries.

A digital banking license typically allows the holder to operate various financial services such as taking deposits, lending and managing assets. Without physical branches, operators would offer loans with low interest rates, making it easier for consumers, especially underbanked people, to access those services.

Financial authorities in the region over the past few years have opened up the banking sector to newcomers like Sea, hoping to catalyze innovation and more people to have access to banking services.

Five parties have applied for Thailand's inaugural virtual bank licenses by the Sept. 19 deadline, according to the Bank of Thailand, the central bank, which did not disclose the names of the applicants.

Revealing its application, Sea said it had partnered with Bangkok Bank, railway operator BTS Group, consumer goods conglomerate Saha Group and Thailand Post. Sea said it will leverage the four companies' "complementary strengths to offer innovative and compelling digital financial services in Thailand" and will focus on improving access to financial services for underserved segments.

Nikkei Asia understands that if it wins, Sea will lead the investment of the new digital banking venture, while the remaining four players will have similar stakes.

Sea's planned entry to Thailand follows its rapid expansion of financial business in the region. In recent years, the company launched a digital bank called SeaBank in Indonesia and the Philippines and another in Singapore, MariBank. By the end of this year, it will enter Malaysia with a subsidiary of energy conglomerate YTL.

Sea, the parent company of e-commerce Shopee and online game Garena, focuses on financial services by leveraging its large customer base and complementing the growth of its main businesses. After founding a finance unit called SeaMoney in 2014, the group now offers digital payments, credits and banking services in six Southeast Asian markets.

Over the past decade, its fintech business has become one of its growth drivers. For the year 2023, revenue of digital financial services, including digital banks, was $1.8 billion, up 44% from a year ago, recording the highest growth rate by other segments like e-commerce and online gaming.

The segment posted a profit of $550 million on an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) basis from a $228 million loss a year ago.

"Although we are uncertain about its loan book growth in the long term, we believe it is becoming a larger part of the company and can help finance some of the marketing expenditures needed for Shopee," Kai Wang, senior analyst at Morningstar, said in a report last month.

Southeast Asian tech group Sea is expanding its digital banking business across the region. © Reuters

TSUBASA SURUGA and APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writersSeptember 30, 2024 15:00 JST

SINGAPORE/BANGKOK – Singaporean tech group Sea is making another bid in its digital banking venture, applying for a license in Thailand after launching the business at home and entering several other Southeast Asian countries.

A digital banking license typically allows the holder to operate various financial services such as taking deposits, lending and managing assets. Without physical branches, operators would offer loans with low interest rates, making it easier for consumers, especially underbanked people, to access those services.

Financial authorities in the region over the past few years have opened up the banking sector to newcomers like Sea, hoping to catalyze innovation and more people to have access to banking services.

Five parties have applied for Thailand's inaugural virtual bank licenses by the Sept. 19 deadline, according to the Bank of Thailand, the central bank, which did not disclose the names of the applicants.

Revealing its application, Sea said it had partnered with Bangkok Bank, railway operator BTS Group, consumer goods conglomerate Saha Group and Thailand Post. Sea said it will leverage the four companies' "complementary strengths to offer innovative and compelling digital financial services in Thailand" and will focus on improving access to financial services for underserved segments.

Nikkei Asia understands that if it wins, Sea will lead the investment of the new digital banking venture, whilethe remaining four players will have similar stakes.

>>21699313

You are Singaporean though

https://www.bbc.com/news/articles/c8rdk4m82n6o

Ex-minister found guilty in case that gripped Singapore

Suranjana Tewari

24 SEP 2024

Singapore's former transport minister has been convicted of receiving gifts while in office, after he pleaded guilty before a local court.

Subramaniam Iswaran, 62, was initially charged with corruption, but prosecutors amended these charges at what was supposed to be the start of his trial on Tuesday.

A corruption case involving a public official is rare in Singapore, a financial hub that prides itself with its squeaky clean image, and Iswaran's case has gripped the nation.

Iswaran now faces a fine or up to two years in jail for each charge of receiving gifts or gratifications, compared to a corruption conviction that carries a fine of up to $100,000 or up to seven years in prison.

Iswaran is the first political office-holder in Singapore to be tried in court in the past 50 years.

He is best known for bringing the Formula 1 Grand Prix to the South East Asian island nation. The most recent edition wrapped up just days before his court appearance.

Charge sheets revealed that he was gifted more than S$403,000 ($311,882; £234,586) worth of flights, hotel stays, musicals and grand prix tickets.

Shortly after the charges were issued in January, Iswaran pleaded not guilty to all the allegations and quit his post in government, saying he would focus on clearing his name.

Property tycoon Ong Beng Seng was named in the charges, often as the party offering the alleged bribes.

Mr Ong owns the rights to the Singapore Grand Prix, while Iswaran was advisor to the race’s steering committee.

Mr Ong’s company Hotel Properties also has 38 hotels and resorts operating under brands including Four Seasons, Hard Rock Hotels and Concorde, according to the London Stock Exchange's Refinitiv Eikon.

Mr Ong was arrested last year along with Iswaran but has not been charged with any offence. He was initially scheduled to take the stand as a prosecution witness in Iswaran’s trial.

In March of this year, Iswaran was handed eight additional charges that allege he obtained items such as a Brompton bicycle, a set of golf clubs and whisky from another figure: construction company boss Lum Kok Seng.

Mr Lum’s company is involved with a number of government infrastructure projects around Singapore, which were awarded while Iswaran was Transport Minister. He has not been charged either.

While in government, Iswaran held multiple portfolios in the prime minister's office: in home affairs, communications and, most recently, the transport ministry.

But it was during his long stint in the trade and industry ministry that he gained prominence, playing a role in developing Singapore's tourism landscape in the late 2000s and 2010s.

This was a time when the government poured in vast resources and courted billions in foreign investment to build casinos, hotels, tourist attractions and events like the F1 Grand Prix.

Iswaran was a familiar face on the podium, often handing out trophies to drivers amid celebratory sprays of champagne.

>>21699321

You migrant destroy our country, you go back to Taiwan.

Singapore's Changi Airport embraces biometric immigration screening

Passport-free clearance improves monitoring and efficiency at key hub

MAYUKO TANI

01 OCT 2024

SINGAPORE – A new biometric immigration clearance system at Singapore's Changi Airport is offering greater convenience to travelers while allowing the government to keep a closer eye on who enters and leaves the country.

Instead of presenting their passports, Singaporean nationals and long-term residents can be screened to enter or exit the country simply through facial scanning carried out at automated kiosks.

The information is compared against a database of facial and iris biometrics maintained by Singapore's Immigration & Checkpoints Authority. The new system, which has been in place since August, starting from some of arrival immigration counters at Changi's Terminal 3, will cut immigration wait times by 40%, according to the agency.

Few airports around the world offer passport-free immigration clearance. Singapore's immigration authority plans to eventually expand the system to include foreign tourists and business travelers at their departure. Changi Airport Group, the operator of the airport, plans to introduce passport-less check-in and boarding system, so that travelers never have to pull out their passports inside the airport.

Yet convenience is not the only reason why Singapore pushes towards passport-free immigration. The new biometric system is also targeted to beef up the monitoring of travelers.

In August, a Bangladeshi man who was on a terrorism watchlist used a passport bearing a different name to enter Singapore and deliver what authorities described as an extremist and illegal sermon. "If he tries to come back again, regardless of what other passport he uses, he will be picked up because we now have his biometrics," Home Affairs Minister K Shanmugam said.

Workforce efficiency is another concern. Given the high cost of labor in Singapore, Changi Airport is under pressure to streamline staffing before a new supersized terminal comes online in mid-2030's.

The biometric system could serve as a model for other airports around the world also facing staffing pressures.

https://www.asiaone.com/singapore/samsungs-global-layoff-hits-singapore-staff-across-departments-retrenched

Samsung's global layoff hits Singapore, staff across departments retrenched

The South Korean electronics giant has been restructuring overseas subsidiaries since September this year.

BHAVYA RAWAT

02 OCT 2024

Amidst layoffs in multiple countries, Samsung has reportedly retrenched staff in Singapore as well.

On Tuesday (Oct 1), staff across various departments in Samsung Electronics Singapore were called into private meetings with HR as well as their reporting managers during which they were informed of the retrenchment and their severance package details, reported Bloomberg.

Over half of the South Korean company's 267,800 employees are based overseas according to its 2024 sustainability report released in June.

Samsung Electronics Singapore, in response to AsiaOne's queries, said they are conducting routine workforce adjustments to improve operational efficiency.

In September, Samsung instructed subsidiaries worldwide to reduce sales and marketing staff by about 15 per cent, and administrative staff by up to 30 per cent, sources told Reuters then.

"Some overseas subsidiaries are conducting routine workforce adjustments to improve operational efficiency," a Samsung spokesperson said in a statement to Bloomberg.

"The company has not set a target number for any particular positions."

Samsung has plans to lay off over 200 executives in India, about nine to 10 per cent of its total managerial workforce in the country, reported The Economic Times in September.

It is reportedly trimming about 10 per cent of jobs in some parts of Latin America as well, but not planning layoffs in its home market, reported Bloomberg.

Responding to AsiaOne's queries, Andy Lim, secretary-general of the Singapore Manual and Mercantile Workers' Union (SMMWU) said that although Samsung Electronics Singapore is a non-unionised company, there are workers there who are members of SMMWU,an affiliated union with the National Trades Union Congress (NTUC).

"The SMMWU is actively reaching out to these members and remains committed to supporting our members during this challenging time, where needed," he said.

Lim also encouraged affected workers to reach out the union for resources such as job placement services as well as career and skills upgrading advisory.

https://www.straitstimes.com/singapore/up-to-11m-singapore-residents-will-receive-higher-healthcare-subsidies-from-oct-1-ong-ye-kung

Up to 1.1m Singapore residents will receive higher healthcare subsidies from Oct 1: Ong Ye Kung

Healthcare subsidies will be extended to people from households with higher incomes.

Judith Tan

01 OCT 2024

SINGAPORE – From October, more people will benefit from government healthcare subsidies, including at public hospitals, specialist clinics and dialysis centres.

Health Minister Ong Ye Kung announced on Sept 30 that subsidies will be extended to people from households with higher incomes.

The monthly per capita household income (PCHI) threshold for each subsidy tier will be raised by $100 to $800. PCHI is the total household income divided by the number of family members living under the same roof.

For instance, the 80 per cent subsidy for C and B2 wards at public hospitals would be given to those with PCHI of up to $2,100, from $1,800. For a family of four, this works out to a household income totalling $8,400, up from $7,200.

Aside from acute hospitals, the higher subsidies also apply across the range of healthcare services, from MediShield Life premiums to devices for seniors such as hearing aids and wheelchairs.

More people will qualify for the Chas (Community Health Assist Scheme) Blue card, with the PCHI being raised from $1,200 to $1,500.

The PCHI to qualify for the highest MediShield Life health insurance premium subsidy will also go up from $1,200 to $1,500.

(attachment)

In addition, the subsidy rates for community hospitals and palliative care in both hospitals and the community will be raisedto match those at acute hospitals.

Patients themselves or their loved ones sometimes prefer that the patients stay in acute hospitals, where there is greater assurance of government financial support, Mr Ong said. So patients are reluctant to move to community care settings.

“This paradigm has now shifted. We should subsidise community care at least at the same level as hospital care, if not more. That way, we encourage the right-siting of patients,” he added.

“In fact, it is often in the interest of patients to quickly move to community settings where they can get the right rehabilitation and social support, which is what they need most at that stage of their recovery.”

To this end, subsidies for community hospitals will be the same as those for public hospitals from Oct 1, in tandem with the revised monthly PCHI thresholds.

Under the enhanced community hospital subsidy framework, Singapore citizens will get subsidies of at least 50 per cent, up from 30 per cent under the current framework, said the Ministry of Health (MOH).

https://www.scmp.com/week-asia/politics/article/3280661/singapore-ministers-slam-lee-hsien-yangs-rich-claim-linking-lee-kuan-yew-suit

Singapore ministers slam Lee Hsien Yang’s ‘rich’ claim linking Lee Kuan Yew to suit

Ministers Vivian Balakrishnan and K. Shanmugam took issue with Lee Hsien Yang’s Facebook post about their defamation suit against him

Kimberly Lim

01 OCT 2024

Singapore’s Foreign Minister Vivian Balakrishnan and Law Minister K. Shanmugam have sharply refuted assertions by Lee Hsien Yang, the son of founding father Lee Kuan Yew, linking a defamation case to the legacy of his late father and the city state’s first prime minister.

In a Facebook post on Sunday, Lee, the estranged younger brother of former prime minister Lee Hsien Loong, revealed he paid S$619,335.53 (US$481,644) in damages to the two ministers in what he claimed was to honour his father’s wishes regarding 38 Oxley Road, where his sister Wei Ling was residing.

“This was to allow Wei Ling, who is ill, to continue to stay at the house,” he wrote.

Lee also said the amount was “equivalent to 13.6 months” worth of rent for two other houses on Ridout Road that were at the centre of the defamation suit filed by the two ministers against him last year.

On Tuesday, the ministers published social media posts arguing that “the defamation cases had nothing to do” with Lee Kuan Yew or his family home, the subject of a long-standing dispute between the (((Lee siblings))).

That row centred on Lee Hsien Loong –when he was still prime minister– advocating that the government determine the property’s future, while his siblings Lee Hsien Yang andLee Wei Linghave maintained that the house should be demolished, in accordance with what they said was their father’s wish.

THIS IS INSANITY!

https://oilprice.com/Latest-Energy-News/World-News/Former-Top-Singapore-Oil-Trader-Hit-With-35-Billion-Lawsuit-Bill.html

Former Top Singapore Oil Trader Hit With $3.5-Billion Lawsuit Bill

Charles Kennedy

30 SEP 2024

Singapore’s former biggest oil trader Lim Oon Kuin and his heirs have received a bill for $3.5 billion to settle with the liquidators of Lim’s trading business, Bloomberg has reported, citing unnamed sources in the know.

The oil tycoon was earlier this year convicted on three charges, including two charges of deception targeting lender HSBC and one charge of document forgery with the intent to deceive the bank. These were the only three criminal charges that reached court of a total of 130 charges of forgery and cheating, the Business Times reported at the time.

Lim set up his company Hin Leong Trading Pte. back in the 1970s and it eventually turned into the biggest oil trading entity in Singapore. However, it all came crashing down when it was revealed that Lim had used his employees to forge documents aimed at deceiving HSBC that Hin Leong had sealed two oil sale deals with Chinese companies: Unipec and China Aviation Oil.

These deals made the basis for a request for financing from the British lender. The sum of the loans that the oil trader received under false pretenses was at least $111.7 million. Lim denied he had asked employees to forge documents for the purpose of deceiving the company’s lender.

However, that deal turned out to be just the tip of the iceberg. Last year, after Hin Leong Trading went into compulsory liquidation, liquidators alleged that Lim and his children has been engaged in fraud for years, presenting the company as a healthy going concern when in fact it had been loss-making for a decade.

Between 2010 and 2020, the liquidators alleged, Lim and his two children had overstatedHin Leong’s profits by $2.1 billion, while the company had in fact incurred losses of some $808 million from trade with futures and swaps, Channel News Asia reported a year ago. It was in this case that the court ruled the family must pay $3.5 billion in compensation - the sum that liquidators had asked to be awarded to them.

Singapore and DPRK strong, Weabs and western shills begone!

If Singapore is to be a strong, self sufficient nation it must denounce Kamala and support Trump. Trump understands and respects national sovereignty. Kamala is a globalist who buys and sells countries for the (((bankers))). She must not win.

welcome

good to see