HK buyer owns “unluckiest” license plate

A Hong Kong woman splashed out 130,000 US dollars for a car licence plate carrying “4444″, despite the number’s traditional links to death in Chinese culture, a report said Monday.

The bidder paid one million Hong Kong dollars in a government auction of 270 unusual licence plates on Sunday, the Chinese-language Apple Daily said.

The number four is often avoided by Chinese people because its pronunciation is similar to the word for “dead”.

Some skyscrapers do not include floors that end with the number, such as 14th or fourth, as they are less likely to be rented. (story)

Jade buyout being investigated

4 organisations are now involved in the widening official probe into the aborted takeover of Singapore-listed Jade Technologies.

The Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (Acra) have recently announced that they are also looking into the fiasco.

They have joined efforts by two other regulatory and enforcement bodies - the Commercial Affairs Department (CAD), the white-collar crime unit, and the Securities Industry Council (SIC), which polices takeovers.

Earlier this month, major Jade shareholder Anthony Soh pulled the plug on a proposed $117 million buyout of the company after admitting he had insufficient funds. (story)

Cellphone robbers face harsh punishments

3 men recruited to carry out a million-dollar cellphone heist and fatally assaulted a lorry driver were convicted of murder and sentenced to hang. Daniel Vijay Katherasan, 25, Christoper Samson Anpalagan, 25, and Nakamuthu Balakrishnan, 49, had brutally bashed up Mr Wan Cheon Kem while robbing his $1.3-million cargo of 2,700 Sony Ericsson cellphones.

An autopsy found that Mr Wan suffered at least 15 blows.

The trio had been roped in to execute the robbery, but the brains behind the plot were Arsan Krishnasamy Govindarajoo, 40, and Ragu Ramajayam, 37. (story)

Changi Airport handles a record 36.7 million passengers in 2007

Singapore’s Changi Airport handled record passenger traffic of 36.7 million in 2007, up almost 5 percent from the previous year, the government said Monday. Last year’s passenger traffic broke the previous record of 35.03 million set in 2006 and was driven by strong growth in China and India, the airport operator, the Civil Aviation Authority of Singapore, said.

Emerging markets like Vietnam, Russia and South Africa also contributed to last year’s record showing, it said. (story)

Government earns an extra $990 million from tax hike

Government earned an extra $990 million last year from the two-percentage point hike in Goods and Services tax.The bulk, $540 million, came from local consumer spending, while the remainder was from foreigners.

A large portion of the collection went back to Singaporeans.

They received a total of $630 million in cash, to offset the GST increase to 7 per cent in July 2007.With other measures like utility rebates, to help people adjust to paying more GST, the Government will spend $1.17 billion by the end of fiscal year 2007 on Mar 31 this year. (story)

FairPrice extends holiday saving through Chinese New Year

Singapore’s largest supermarket chain, NTUC FairPrice, starting Thursday, with its new five per cent discount off over 500 house brand items - but only till the end of February. This latest move announced on Wednesday will cost FairPrice $3 million.

The 500-plus discounted products range from rice, bread and cooking oil to household cleaners.

‘As a social enterprise, NTUC FairPrice is mindful of its role in helping to moderate the cost of living in Singapore,’ said the cooperative’s chairman Ng Ser Miang.

For example, Mr Chong Kiang Leong, a taxi driver and the breadwinner of a family of six, has managed to reduce his family’s $160 weekly grocery bill by $25. (story)

Hindu temple to get $2.4 million upgrade

When one of Singapore’s oldest Hindu temples throws open its doors on Sunday, devotees can expect a whole new religious experience. The 82-year-old Sri Layan Sithi Vinayagar Temple, located in the heart of Chinatown, has benefited from a $2.4 million facelift.

While the temple’s hallmark main sanctum and coloured glass are still there, the walls have been knocked down to create more space and better ventilation.

The three-tiered gopuram, or temple tower, has been replaced with a grander five-tiered one. And the walls are laced with deities, the result of six months of carving by 15 craftsmen from India.

Temple officials opted for the makeover, which began in June, because the congregation had outgrown the sanctuary.

‘Over the last 15 years, there has been a steady increase in the number of devotees,’ said Dr K. Vellayappan, president of the Chettiars Temple Society, which manages the temple. (story)

Nano technology big in Singapore

Some 40 local and foreign nano technology companies have set up shop here, dealing in anything from chemical engineering to cosmetics, a significant increase from just 10 companies three years ago.

‘The beauty about nanotech is that it is an enabling technology - it can be applied in any industry,’ said Spring group director of quality and standards Teo Nam Kuan.

Consumer demand for the industry is expected to grow to $1.05 trillion globally by 2010, said Minister of State for Trade and Industry S. Iswaran at the opening of the one-day Nanosymposium on Monday at the Biopolis.

But with such a wide array of applications, nano technology - the art of producing things on a molecular scale - unfortunately still lacks a unified set of standards and protocols, he noted.

The majority of nano technologies have yet to be commercialised, as uniform standards have yet to be established.

Interestingly, there are over 16,000 standards governing the production and use of anything from credit cards to DVDs and social enterprises, but none for nano technology. (story)

Finland company to invest $810 million into Singapore plant

Neste Oil Corp. announced plans Friday to build a renewable biodiesel plant in Singapore that is expected to be online in 2010, in a project valued at US$810 million.The new plant, with an annual capacity of 800,000 tons, will use palm oil as its main raw material, the Finnish company said.

“The investment forms part of Neste Oils strategic goal of becoming the world’s leading renewable diesel producer,” Neste said. “The use of biofuels such as NExBTL (biodiesel) is predicted to increase rapidly in developed economies over the next few years.” (story)

Market boosts CEO’s salary to $6.38m

The bumper year ended June 30 for the Singapore Exchange has translated into bumper pay packages for some of its senior management. And in a move to provide greater transparency on remuneration, SGX for the first time reported the exact remuneration for its entire executive committee instead of reporting it in bands of $150,000.

SGX chief executive Hsieh Fu Hua received $6.38 million for the fiscal year ended June, 49 per cent more than the $4.28 million he earned a year ago.

The bulk of his latest pay package came from a variable bonus of $4.5 million, which is a 63.6 per cent jump from the $2.75 million he received for fiscal 2006. The rest consisted of $754,952 fixed pay, $1.05 million long-term incentive for the first partial vesting of his fiscal 2006 performance shares based on fair value on the grant date, and $71,413 by way of benefits-in-kind. (story)