SG economy already starting to see slowdown: PM Lee
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SINGAPORE: Prime Minister Lee Hsien Loong said Singapore's economy is already starting to see a slowdown, particularly in the electronics sector.
But he sounded a note of confidence, saying that Singapore is prepared for the uncertainties ahead.
"The economy... probably will grow slower than last year. We're projecting 1 to 3 per cent growth. We have to take that in our stride, and accept that. But within Singapore, we should continue to build, we should continue to develop, we should continue to prepare ourselves and our next generation for the future," said Mr Lee.
Mr Lee said what the government can do is to improve the education and public transport systems, and build more homes so that young couples can start their families.
He made these points at a Lunar New Year event on Sunday morning in his constituency of Teck Ghee, which is part of Ang Mo Kio GRC.
He also officiated the re-opening of a wet market and food centre at Block 409, Ang Mo Kio Avenue 10, which had recently been renovated.
He said more of such markets will be built over the next few years, with the aim of keeping food prices affordable.
The prime minister also distributed red packets, each with S$150 in cash and supermarket vouchers to low-income residents.
It's a small gesture that brought a smile to housewife Haslinah Mahmood, who said she's concerned her Malaysian husband will be affected by the downturn.
"I'm more worried because he has a work permit. Who knows... if one day he can't carry on working with the work permit, what will happen to us?"
Madam Haslinah has two young children, and she plans to use the money for school fees and transport fares.
- CNA/cc -
but cost of living keep going up.
dont understand what our govt is doing.
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There is something very wrong when inflation doubles growth.
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it will become worse if we dun spend...
so buy more for the CNY....
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wonders how come pork is still $6.50~$7/kg in oz.must be fuel price gone up.
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All my money in CPF, no money to spend.
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All my money in CPF, no money to spend.
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It will be better than Europe anyway. We're Asians, we don't have anything to fear.... well, except Kim Jung- Un...
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Originally posted by βÎτά:
All my money in CPF, no money to spend.
apply ATM card from them
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Originally posted by Aero7:
It will be better than Europe anyway. We're Asians, we don't have anything to fear.... well, except Kim Jung- Un...
yes, must fear his nuke.
if he nuke singapore...jb sultan laughing all the way to the bank becos a lot of people rushing in......
imagine taxing $100 per entry...like casino..
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Originally posted by Summer hill:
yes, must fear his nuke.
if he nuke singapore...jb sultan laughing all the way to the bank becos a lot of people rushing in......
imagine taxing $100 per entry...like casino..
Ahh, I just wish he could nuke that bastard instead... JB's Sultan is a disgrace to all other Sultans in the world. Seriously. I'd praise King Jung- Un if he did that. Big time.
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nowadaya those drinks in even in HDB coffeeshops are getting too expensive,last night i ordered 2 cans of drinks Coke and Yeo's soyabean and one glass of iced Milo and it comes out to $4.10!that means the 2 cans cost $1.30 each!when a can u bought fr a minimart cost only 60 cents!and the iced Milo $1.50!when last time was only a dollar maximum!
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Originally posted by foolsh_2000:
nowadaya those drinks in even in HDB coffeeshops are getting too expensive,last night i ordered 2 cans of drinks Coke and Yeo's soyabean and one glass of iced Milo and it comes out to $4.10!that means the 2 cans cost $1.30 each!when a can u bought fr a minimart cost only 60 cents!and the iced Milo $1.50!when last time was only a dollar maximum!
production cost is probably around 20cts.
we are paying the rentals.
so who is the biggest landlord?
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Retrenchments likely to rise as economy slows down
SINGAPORE: 3,040 workers were laid off in the second and third quarters of last year.
In a written reply to parliament, Manpower Minister Tharman Shanmugaratnam said of these, 2,090 were residents.
This is close to the resident proportion of the Singapore workforce.
Mr Tharman, who's also the Deputy Prime Minister, said the number laid off during the period was lower than that in 2010.
It's also significantly lower compared to the period before the 2008-2009 recession.
Mr Tharman said what this shows is the "fact that a certain number of retrenchments occur at all times, even when the economy is healthy as it was in 2010".
Of the 2,090 laid off residents, 1,290 were PMETs.
"With the economy slowing down, retrenchments are likely to rise. We are monitoring the situation and will work closely with our tripartite partners to encourage employers to consider other cost-cutting measures instead of retrenchments - such as training, shorter work weeks or temporary lay offs where appropriate," said Mr Tharman.
- CNA/ck -
majority of those laid offs are residents.
terrible.
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Economy likely to be slower in 2012: PM Lee
SINGAPORE: Prime Minister Lee Hsien Loong says the economy is likely to be slower this year, but it is not going to be as bad as the recession during 2008 and 2009.
Speaking to reporters after meeting public transport workers during his traditional visit to essential services during the Lunar New Year, Mr Lee said Singapore has to take the slowdown in it's stride.
He indicate that the Government will know what it needs to do.
The upcoming Budget next month is expected to address the impending economic slowdown.
On the issue of the growing the country's fertility rate, Mr Lee said providing baby bonuses is not the first thing on his mind.
But he said the government will look at the scheme and review it from time to time.
Mr Lee stressed that the critical point is not financial incentives.
Mr Lee said: "The bigger point now is social mood and social climate as well as attitudes of parents and couples towards children, career, what they would like to see as fulfilling and satisfying, rounded and complete satisfaction in their lives and that includes having children that's something we have to get across progressively step by step."
In his Lunar New Year message on January 22, Mr Lee announced that Singapore's Total Fertility Rate (TFR) picked up slightly last year to 1.20, up from a historic low of 1.15 in 2010.
- CNA/fa -
S'pore well positioned to cope with global slowdown: President Tony Tan
SINGAPORE: President Tony Tan Keng Yam said Singapore is well positioned to cope with the global slowdown.
This is because it has an educated and well-skilled workforce and one of the most business-friendly environments in the world.
He said unlike countries with high sovereign debt, fiscal prudence over the years has enabled Singapore to build up its reserves, providing the government with the resources to intervene when necessary to support businesses and homes.
Dr Tan was speaking at the Singapore Chinese Chamber of Commerce and Industry's (SCCCI) annual Lunar New Year celebrations on Monday morning.
He said even as Singapore braced itself for leaner growth over the next couple of years, the country and people can face the future with confidence.
This is provided everyone presses on with efforts to upgrade, raise competitiveness and emerge stronger when the external environment improves.
Dr Tan noted that the government has committed substantial funding support for businesses to invest in productivity improvements and to restructure.
Businesses also must continue to invest in the training of workers, innovation in products and business models, and building capacity to tap on new market opportunities in emerging economies.
President Tan said 2012 is the year of the Water Dragon - one gifted with courage, tenacity and intelligence.
And he's confident that by staying united as one people, Singapore can ride any storm with dauntless determination, just like the dragon.
- CNA/fa -
Originally posted by foolsh_2000:
nowadaya those drinks in even in HDB coffeeshops are getting too expensive,last night i ordered 2 cans of drinks Coke and Yeo's soyabean and one glass of iced Milo and it comes out to $4.10!that means the 2 cans cost $1.30 each!when a can u bought fr a minimart cost only 60 cents!and the iced Milo $1.50!when last time was only a dollar maximum!
its rental - now even small space rental is sky high! that the vendors and businessess have to transfer the cost to consumers! that results in higher cost of living, and businesses hire more cheap foreign labor and increase goods prices to offset rentals and taxes. that results paying more for goods and services, no jobs for locals who cannot take lower salary dur to the rising cost of living. the gahmen put us in a loop so that they can make more through rentals and taxes - they are the ones responsible gfor more influx of cheap foreign labor and high cost of living! -
Don't look like slowing down.
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so should vie 10 dollars angpows i can go geyland pow pow huat 1 x
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Originally posted by troublemaker2005:
so should vie 10 dollars angpows i can go geyland pow pow huat 1 x
Huh?
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Today damn crowded at Orchard Road.
Slowdown in economy?
Pffftttt.
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no lah actually some asshole satrted making this type of comments after seeing some movments of the world, some statistics - so that idiot said all these things. one passes to another every big ass then yeyeh say the same thing. initially not that bad - people tok rot and nonsnese until it was made real. silly heads
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Originally posted by charlize:
Today damn crowded at Orchard Road.
Slowdown in economy?
Pffftttt.
Economy is good for the public transport, erp, electricity, water department, rental, taxes and alot of employees there etc. In need more performance in economy to promote generous spending of those wealthier especially the public officers, either through giving for other to spend and also buying
In fact, economy only slow down more drastically in midnight
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the mouth sway lah. actually no slow let them anyhow say until slow