Singapore's Max Maeder eyes gold in Olympic kitefoiling final; 7 Singapore firms make Forbes Asia 200 Best Under A Billion list: Singapore live news
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Max Maeder of Singapore eyes Olympic glory in the kitefoiling final. (Photo by Clive Mason/Getty Images)
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Singaporean kitefoiler Max Maeder has secured his place in the Olympic final after finishing second in the opening series. He is now in a strong position to secure Singapore's first Olympic medal since 2016. Maeder is now aiming to win two races in the final to clinch gold. All the best, Max! Singapore is cheering for you! Read on for more Olympics stories.
Forbes Asia's 2024 Best Under A Billion list includes seven Singaporean companies: Aztech Global, Choo Chiang Holdings, Credit Bureau Asia, Delfi, Eggriculture Foods, Old Chang Kee, and Singapore Exchange. These firms demonstrated strong financial performance and growth amidst robust regional economic conditions. Read on for the full list.
FairPrice is offering 30 Pasar Fresh Eggs for $5.90 to celebrate Singapore’s 59th National Day, reminiscent of a similar promotion last year, where housebrand eggs were sold at a reduced price to commemorate the national holiday.
Singapore has introduced the Energy Transition Measures and Other Amendments Bill to Parliament. This Bill aims to enhance regulatory oversight, establish a Future Energy Fund, and ensure energy security. Key proposals include centralising gas procurement and empowering EMA to implement power rationing during emergencies. Find out how Singapore is strengthening its energy security here.
Twenty-seven individuals have been arrested by Ministry of Manpower (MOM) for illegal employment activities. The arrests include 13 migrant domestic workers working without valid passes and 14 employers who facilitated these activities. Read on MOM's recent crackdown on illegal employment here.
Michael Phelps’ Olympic dominance is attributed to his unique physical characteristics, including a long wingspan, large hands and feet, lower lactic acid production, and a 12-litre lung capacity. These genetic traits, combined with intense training, have enabled him to become one of the greatest swimmers of all time. Phelps' genetic advantage in swimming is explained here.
A travel vlogger’s first-class journey on Singapore Airlines has captivated millions. His detailed TikTok video showcases the luxury amenities and exceptional service. Read the reactions that fuel an online debate about luxury travel.
Carlos Yulo has become a national hero as the first Filipino man to win an Olympic gold medal. His historic victory in gymnastics has earned him a slew of rewards, including a US$600,000 condo. This mirrors the experience of Singapore's Joseph Schooling, who received significant endorsements after his Olympic win. Will Carlos Yulo follow in Joseph Schooling's branded footsteps?
COE prices increased across all categories on Wednesday, (7 Aug), driven by high demand and new car launches. The latest COE prices are listed here.
Chinese gymnast Zhou Yaqin's wide-eyed reaction to her competitors biting their medals has gone viral. The 18-year-old's surprised expression was caught on camera during the Olympic podium ceremony. Viewers loved her relatable and adorable response. Read more about heartwarming moment here.
Flashy Singapore CEO David Yong, who had claimed that he was the "top 1% super rich" in the Netflix series "Super Rich in Korea", was given additional charges on Thursday (8 August).
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Joel Balbin
Singapore socialite Kim Lim announces second pregnancy on social media
Singaporean socialite Kim Lim has announced her pregnancy, sharing an emotional video and a heartfelt message of support for single mothers. (Photo: Kim Lim/Instagram)
Lim revealed the news with an emotional Instagram video showing her celebrating her birthday and having a gender reveal party on a yacht along Bangkok's Chao Phraya River.
In the video, Lim, dressed casually in a white cropped T-shirt and grey sweatpants, is seen tearfully holding her baby bump while looking up at the sky.
The dramatic reveal included a drone light show that spelled out birthday wishes, depicted a dragon for the current Chinese zodiac year, and teased the baby's gender, although the video ended before revealing the sex.
Lim is the daughter of Singaporean billionaire Peter Lim.
Details about the father of her unborn child and her due date remain undisclosed, though the zodiac reference suggests a due date before 28 January 2025.
Featured
Joel Balbin
Singapore's Max Maeder one step from Olympic kitefoiling gold
Max Maeder of Singapore eyes Olympic glory in the kitefoiling final. (Photo by Clive Mason/Getty Images)
Singaporean kitefoiler Max Maeder has secured his place in the men’s kitefoiling final at the Paris Olympics after finishing second in the opening series.
This achievement brings Singapore closer to winning its first Olympic medal since 2016.
Maeder has been in impressive form throughout the 2024 season, but the Olympics has proven to be his most challenging event.
After competing in seven races, he secured his spot in the final, ending the opening series with 15 net points. Slovenia's Toni Vodisek leads with 12 net points.
In the final, Vodisek needs one race win to secure gold, while Maeder needs two, and the semi-finalists need three.
The kitefoiling competition uses a low-point system similar to sailing. Points are awarded based on finishing positions, with fewer points being better.
Competitors can discard their worst race scores, with the remaining scores forming their net points.
The competition has faced interruptions due to weak winds, leading to only seven out of the scheduled 16 races being completed.
Should Maeder succeed, he will become only the second Singaporean to win an Olympic gold medal. Retired swimmer Joseph Schooling made Singapore proud by winning the country's first Olympic gold in 2016.
Flashy Singapore CEO David Yong gets more charges, denied bail
Flashy Singapore CEO David Yong, 37, who had claimed that he was the "top 1% super rich" in the Netflix series "Super Rich in Korea", was given additional charges on Thursday (8 August).
He has been accused of abetting his employee, Jolene Low Mong Han, to falsify two company tax invoices in December 2021, The Straits Times reported.
Yong as also reportedly denied bail after prosecutors argued that he is a "real flight risk" who might abscond from the country.
China took gold in artistic swimming team on Wednesday (7 Aug) but earlier in the week it was the US team which dazzled with their viral moonwalk routine.
The USA artistic swimming team captivated audiences at the 2024 Paris Olympics with a routine featuring Michael Jackson's iconic moonwalk.
Their performance during the technical round on Monday incorporated elements of Jackson's dance to his song "Smooth Criminal," receiving widespread acclaim from viewers.
Viewers were impressed by the originality of Team USA's routine, with many praising it as a standout moment.
And the routine looked even more awe-inspiring when viewed upside down.
Chinese gymnast Zhou Yaqin’s adorable medal-biting reaction goes viral
Chinese gymnast Zhou Yaqin's (left) surprise at the medal-biting tradition during the Olympics went viral. Her relatable reaction on the podium charmed viewers. (Photo: Jack Gruber-USA TODAY Sports)
Chinese gymnast Zhou Yaqin's reaction to her competitors biting their medals on the Olympic podium has gone viral.
Zhou, who won a silver medal in the women's gymnastics balance beam final on 5 August, was surprised by the tradition of biting medals, leading to an adorable and relatable moment.
Certificate of entitlement (COE) prices in Singapore increased across all categories in the 7 August 2024 tender, with the largest rise in Category B for larger cars and EVs. High demand and new car models drove the increase. (Yahoo News Singapore file photo)
Certificate of entitlement (COE) prices in Singapore increased across all categories in the latest tender on Wednesday (7 Aug).
Category B, for larger and more powerful cars and EVs, saw the largest rise, going up by 6.1 per cent to $106,101 from $100,000. This followed a previous dip of $901 in the last exercise.
Category A COEs, for smaller and less powerful cars and EVs, rose by 2.6 per cent to $94,289 from $91,899, marking the fourth consecutive increase.
The Open category (Category E) also saw a 4.9 per cent increase, reaching $105,239 from $100,341. This category is often used for larger cars and EVs.
Motorcycle COEs (Category D) climbed 5.6 per cent to $9,601 from $9,089, while commercial vehicle COEs (Category C) saw a modest rise of 0.7 per cent, reaching $71,100 from $70,601.
The number of bids submitted increased significantly, with 17 per cent more bids for Category A and 29 per cent more for Category B compared to the previous tender.
The Land Transport Authority announced that COE availability would rise by 1.2 per cent from August to October, compared to the previous quarter.
High demand and intense competition among dealers are expected to keep COE prices elevated.
Carlos Yulo's Olympic gold win brought him a condo and more. His rewards mirror Joseph Schooling's.
Carlos Yulo (right), the first Filipino to win Olympic gold, has been showered with rewards, including a $600,000 condo, echoing the lucrative endorsements Singapore's Joseph Schooling received after his Olympic victory. (Photos: Schooling - Clive Rose/Getty Images; Yulo - AP Photo/Charlie Riedel)
Gymnast Carlos Yulo has made history as the first Filipino man to win a gold medal at the Olympics, securing top positions in the men's floor and vault events at the Paris Olympics.
Following his victory, Yulo received an outpouring of gifts from various Filipino brands, including a fully furnished three-bedroom condo valued at around US$605,000, a lifetime supply of ramen and unlimited buffets.
He also received free medical services from a gastroenterologist and a supply of cookies.
In addition, the Philippine House of Representatives awarded Yulo a cash incentive of around US$104,000 for his double gold medal win.
These rewards highlight a common practice where Olympic medalists receive substantial incentives from their governments and local businesses.
For instance, Joseph Schooling, who won Singapore's first Olympic gold in 2016, became a brand ambassador for Nestlé’s Milo, Yakult, and Hugo Boss, capitalising on his historic win.
Similar to Schooling, Yulo has become a beloved national figure, poised to secure lucrative endorsements.
Viral video of Singapore Airlines luxury flight sparks debate
A first-class flight on Singapore Airlines sparks debate and awe on TikTok. (Photo: Singapore Airlines)
A man's first-class experience on a Singapore Airlines flight, documented on TikTok, has sparked widespread debate online about luxury travel.
Travel vlogger Pitor posted a detailed video of his lavish journey on 6 June, amassing over 45.2 million views.
The video showcases every aspect of his trip, from the warm welcome by flight attendants to the luxurious amenities in his private cubicle.
Pitor's video caption praised the luxury experience at 30,000 feet.
While he was accustomed to such luxury, his viewers were astounded by the extravagance of the flight.
Reactions in the comments section ranged from awe to humour and skepticism. Some viewers joked about the luxurious space, while others admitted they wouldn't know how to handle such treatment. Many expressed a desire to experience the comfort of a bed on a plane, while others noted the high cost.
Despite the varied reactions, a few commenters shared their familiarity with Singapore Airlines, affirming the worthiness of the high price. This discussion highlights the allure and divide in opinions regarding high-cost, high-comfort air travel.
Phelps is one of the greatest Olympians in history. His strong stance against doping carries a lot of weight having won 28 Olympic medals and dominated swimming like no one has seen before.
Phelps argues that such stringent measures are necessary to maintain the integrity of the sport.
Phelps' unparalleled success in swimming highlighted the importance of both natural advantages and hard work in achieving athletic excellence.
His success has led many to speculate about potential genetic advantages that contribute to his extraordinary abilities.
And science confirms that Phelps’ unique physical attributes provide him with a significant edge in swimming.
The Ministry of Manpower (MOM) has arrested 27 individuals involved in illegal employment activities, including 13 migrant domestic workers and 14 employers. (Photo: Getty Images)
Singapore's Ministry of Manpower (MOM) conducted a series of raids on 30 July, arresting 27 individuals for their involvement in illegal employment and falsification of work pass applications.
Among those arrested were 13 migrant domestic workers accused of working as illegal household cleaners without valid work passes and living outside their employers’ residences.
Additionally, 14 employers were apprehended for facilitating these illegal activities by making false declarations in work pass applications and allowing the workers to seek other employment.
Under Singapore's employment laws, employers must make truthful declarations and can only hire foreign employees with valid work passes.
Violators face severe penalties, including fines up to $20,000, imprisonment for up to two years, and suspension of work pass privileges.
The arrested migrant workers also risk being barred from working in Singapore if convicted.
The public is encouraged to report illegal employment activities through a designated hotline or email, helping MOM maintain the integrity of Singapore's labour market.
Singapore unveils new measure to strengthen energy security
The Ministry of Trade and Industry (MTI) has introduced a Bill to amend key energy laws, aiming to enhance regulatory oversight, establish a Future Energy Fund, and ensure energy security and decarbonisation. REUTERS/Edgar Su
The Ministry of Trade and Industry (MTI) introduced the Energy Transition Measures and Other Amendments Bill for its first reading in Parliament.
The Bill aims to amend the Energy Market Authority of Singapore Act (EMA Act), Electricity Act, and Gas Act to strengthen the regulation of the power sector, establish the Future Energy Fund, and implement measures to ensure energy security and decarbonisation.
Key features of the Bill include the creation of the Future Energy Fund, which will initially have $5 billion to support low-carbon energy investments.
The Bill also proposes the establishment of a Central Gas Entity to centralise gas procurement, enabling demand aggregation and diversification of energy sources.
The amendments will allow EMA to recover costs associated with energy security, market development, and decarbonisation initiatives from those who benefit from these initiatives.
Additionally, the Bill aims to facilitate shared access to critical energy infrastructure and requires owners of key energy assets to seek approval before repurposing them.
Another significant proposal is to empower EMA to implement power rationing during emergencies, ensuring the stability of the power system in the event of supply disruptions.
This measure is intended to prepare for potential future crises, similar to the 2021-22 global energy crisis.
The Bill also includes provisions for EMA to direct owners of critical energy infrastructure to allow access to licensees when necessary for public interest, and to ensure energy security and reliability.
In addition, FairPrice Foundation's June 2024 initiative distributed 45,000 eggs to vulnerable groups, demonstrating FairPrice's dedication to community support.
Joel Balbin
Forbes Asia 200 Best Under A Billion list features 7 local firms
Seven Singaporean firms have earned a spot on Forbes Asia's 2024 Best Under A Billion list, a testament to their stellar performance and resilience. REUTERS/Edgar Su
Seven Singapore companies made Forbes Asia's 2024 Best Under A Billion list, showcasing strong performance in sales and net income, amidst robust economic growth in the region.
The seven Singapore firms on the list include:
Aztech Global reported US$667 million in sales, US$74 million in net income, and a market value of US$557 million.
Choo Chiang Holdings achieved US$68 million in sales and US$8 million in net income, with a market value of US$56 million.
Credit Bureau Asia recorded US$40 million in sales and US$7 million in net income, has a market value of $US162 million.
Delfi reported US$538 million in sales, US$46 million in net income, and a market value of US$388 million. The company's revenue increased by 13% in 2023.
Eggriculture Foods: With US$81 million in sales and US$14 million in net income, this egg producer has a market value of US$23 million.
Old Chang Kee recorded US$75 million in sales and US$7 million in net income, with a market value of US$66 million. Its net profit rose by 50% in the first half of 2024, thanks to its global expansion.
Singapore Exchange achieved US$875 million in sales, US$418 million in net income, and a market value of US$7.7 billion.
Forbes Asia's "Best Under A Billion" list for 2024 recognises 200 top-performing small and mid-sized publicly traded companies in the Asia-Pacific region with annual sales between US$10 million and US$1 billion.
These companies are selected from a pool of over 20,000 candidates based on a composite score that includes debt, sales, earnings-per-share growth, and return on equity over one and three-year periods.
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