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Bishan to get 200,000 sq m of new office space, matching scale of Paya Lebar Central: Chee Hong Tat

Bishan to get 200,000 sq m of new office space, matching scale of Paya Lebar Central: Chee Hong Tat

CNA5 hours ago

SINGAPORE: Plans to develop Bishan into a new business hub could see the introduction of around 200,000 sq m of new office space to the area, said National Development Minister Chee Hong Tat on Thursday (Jun 26).
This will match the scale of that in Paya Lebar Central, which currently includes office spaces spread out across the sprawling Paya Lebar Quarter mixed-use development and SingPost Centre.
In a video posted on Facebook, Mr Chee also said that work on a new hawker centre integrated with a revamped bus interchange, and a polyclinic in Bishan town centre will start in this term of government and take several years to complete.
Plans to refresh Bishan town centre were unveiled in the Urban Redevelopment Authority's (URA) Draft Master Plan 2025 on Wednesday.
Redevelopment plans for the area are part of a "decentralisation strategy" to create economic areas beyond the city centre and bring jobs closer to homes.
To kickstart the development of this new business hub, selected government agencies are exploring the feasibility of relocating their offices to Bishan town centre, URA has said.
Other plans for the area include turning Bishan Place – located next to Junction 8 shopping centre and the bus interchange – into a pedestrian mall, and improved connectivity for residents, said Mr Chee, who is a Member of Parliament for Bishan-Toa Payoh GRC.
For instance, residents will be able to cycle to upcoming recreational spaces such as those along the North-South Corridor and Kallang River via new cycling paths.
There are also plans for a walking and cycling street along the developments in Bishan Road that will be connected to Bishan-Ang Mo Kio Park, he said.
The draft master plan is a statutory land use plan that outlines Singapore's development priorities over the next 10 to 15 years. It is reviewed every five years.
The latest edition also included plans for new neighbourhoods in areas such as Newton, Paterson, Dover-Medway along Dover Road, the former site of Singapore Racecourse in Kranji, as well as Paya Lebar Air Base and the Sembawang Shipyard area.
Together with earlier announced housing developments in Bukit Timah Turf City and Mount Pleasant, at least 80,000 new public and private homes are expected to be built in more than 10 new neighbourhoods across Singapore over the next 10 to 15 years.

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2 men charged after company allegedly received US$45 million without a payment service licence
2 men charged after company allegedly received US$45 million without a payment service licence

CNA

time13 minutes ago

  • CNA

2 men charged after company allegedly received US$45 million without a payment service licence

SINGAPORE: Two men were charged on Thursday (Jun 26) after their company's corporate bank accounts allegedly received nearly US$45 million in funds from overseas. Patrick Lee Paik Cheng, 65, is the director of the company, Tupt, while his co-accused, Dinh Tien Dat, 28, was said to be in a position to influence the conduct of Tupt. According to a Bizfile record, Tupt is a company located at Bencoolen Street which operates a wholesale business on a fee or commission basis. Lee, a Malaysian and Dinh, a Vietnamese, were each handed a charge under the Payment Services Act. The police said in a press release on Wednesday that neither the men nor their company had a licence to carry out a business that provided a payment service in Singapore. Both men and the company were not considered exempted service providers. It said that investigations by the Commercial Affairs Department revealed that the funds were received from outside Singapore on 58 occasions. Between Jul 28, 2020 and Apr 29, 2022, US$44,951,709.70 was received in 26 transactions to an RHB bank account and 32 transactions to a Standard Chartered bank account, court documents stated. Both bank accounts allegedly belonged to Tupt. Lee's case was adjourned for him to seek legal advice. He will next return to court on Jul 24. Meanwhile, Dinh has indicated his intention to plead guilty. His hearing has been fixed for Aug 7. The police said in the press release that they will not hesitate to act against any individual or entity involved in providing unlicensed cross-border money transfer services. "Members of the public are strongly advised to use financial institutions or payment service providers licensed by the Monetary Authority of Singapore when conducting cross-border money transfers. "The police would like to caution against engaging in unlicensed payment service activities, as unlicensed payment service providers are not regulated and are not subjected to stringent anti-money laundering and counter terrorism financing measures," it added.

Cult favourite Hong Kong Cha Chaan Teng Mon Kee opening in Singapore in July
Cult favourite Hong Kong Cha Chaan Teng Mon Kee opening in Singapore in July

CNA

time3 hours ago

  • CNA

Cult favourite Hong Kong Cha Chaan Teng Mon Kee opening in Singapore in July

Cha chaan tengs in Hong Kong are a dime a dozen. But a cha chaan teng serving slightly elevated classics like wobbly, barely-set scrambled eggs whipped up with Japanese eggs and milk, atop savoury char siew and rice? Well, only a few in the bustling city can claim to offer that. Cult favourite CCT chain, Mon Kee Cafe, is one of such establishment. The brand is coming to Singapore – albeit not as a standalone cafe like in Hong Kong, but via a stall in a food court at Raffles City Shopping Centre. Mon Kee Singapore will soft launch on Jul 4 at the revamped The Food Place food court, owned by Food Republic. MON KEE CAFE WILL BE LOCATED IN A RAFFLES CITY FOOD COURT The food court that has undergone a major renovation, featuring some farm-to-table aesthetics with greenery and warm interiors. The stalls, too, have been overhauled, with a new line-up of brands, including some Michelin-recognised names. 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'It's just a fun thing that stuck,' he told CHAR SIEW SCRAMBLED EGG RICE, S$8.50 Mon Kee's signature char siew scrambled egg rice with homemade sweet soya sauce paired with fluffy Japanese eggs and house-made barbecued pork. 'The dish is all about balance,' Choi explained. 'Not just great char siew or great eggs, you have to take one spoonful with everything to really enjoy the full effect.' SCRAMBLED EGG RICE DISHES FROM S$6.50 'We want to keep our food affordable and accessible,' Choi said, noting that most items are priced similarly across both cities. Other eggy rice options include chicken karaage scrambled egg rice (S$7.50), beef scrambled egg rice (S$9), siu yuk scrambled egg rice (S$10) and a meatless offering of tomato fried egg rice (S$6.50). 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While it may sound unconventional, Choi explained that the creation was the result of extensive experimentation. 'We wanted something satisfying but not too heavy,' he said. 'Peanut butter and egg go surprisingly well together. But to lighten it up, we added lettuce – it completely changed the eating experience.' 'In Hong Kong, we serve it on plain toast,' he continued. 'But in Singapore, we wanted something that felt more distinctly 'Hong Kong', so we decided to use bolo buns. The sweetness of the bun pairs beautifully with the savoury fillings.' BOLO BUN QUARTET WITH CORNED BEEF, EGG, PEANUT BUTTER & CABBAGE, S$8.50 There are two bolo bun quartet options here: Corned beef (S$8.50) or luncheon meat (S$8), paired with scrambled eggs, peanut butter and lettuce. The buns are made by a local bakery using Mon Kee's own recipe. If it all sounds too much for you can get a classic bolo bun with butter (S$5). HONG KONG MILK TEA ONLY AVAILABLE AS PART OF SET MEAL You can also enjoy Mon Kee's Hong Kong-style milk tea hot or iced but only as part of a set meal, not a la carte. Add S$3 to your main dish, or pay S$6 for a cup of tea, together with a plate of scrambled eggs and mini bolo bun. Choi told us the tea is brewed using a blend of three different types of Ceylon leaves. MON KEE SG OPENED IN PARTNERSHIP WITH NAKED FINN FOUNDER Interestingly, Mon Kee was brought to Singapore in collaboration with founder of seafood restaurant The Naked Finn and BurgerLabo, Ken Loon, 50. Choi happens to also be a partner in these two Singapore restaurants and the men have been longtime collaborators. 'The owners of Mon Kee are my partners,' Loon told 'They previously had a Mon Kee stall in Food Republic's Hong Kong branch, so when this opportunity came up, I asked if they wanted to work together. I've always craved proper Hong Kong comfort food, and this is the real deal.' Loon's team in Singapore will be operating Mon Kee. 'The chef for Mon Kee was previously with my Naked Finn and BurgerLabo team. Right now, he's in Hong Kong for training,' Loon shared. 'At any one time, we'll have three staff at the stall. It's the first time we're doing something like this in a food court, so it's a bit of trial and error.' CHA CHAAN TENG STAPLES DONE RIGHT For Choi, returning to Food Republic felt natural. 'We worked with them in Hong Kong for four years before the [Hong Kong] government reclaimed the land for redevelopment,' he shared. 'We've always wanted to go overseas, and there's no better place to start than in Singapore – Ken is based here, and we trust the Food Republic team.'

SBF proposes 1-2 year extension of compliance deadline for SGX-listcos' climate-related disclosures
SBF proposes 1-2 year extension of compliance deadline for SGX-listcos' climate-related disclosures

Business Times

time3 hours ago

  • Business Times

SBF proposes 1-2 year extension of compliance deadline for SGX-listcos' climate-related disclosures

[SINGAPORE] The Singapore Business Federation (SBF) has proposed extending the deadline for Singapore Exchange (SGX)-listed companies' compliance with the International Sustainability Standards Board (ISSB)-based climate-related disclosures by possibly one to two years. This is one of the four recommendations released by the SBF on Thursday (Jun 26), in relation to the disclosure. Under the SGX Regulation (SGX RegCo)'s prevailing sustainability reporting regime, all listed companies have to make climate-related disclosures for financial years (FY) commencing on or after Jan 1 this year, using the International Sustainability Standards Board (ISSB) standards. Data was collected by SBF and SGX RegCo in April and May from 40 SGX-listed companies on the mainboard and Catalist boards through a roundtable discussion and a survey, which showed that only 4 per cent were confident about meeting this timeline, even though all the engaged listed companies were already preparing for ISSB disclosures. More than 90 per cent of them also said extending the timeline for mandatory ISSB disclosures, for example by one or two years, would be useful for them to prepare higher-quality ISSB reports. They also added that a time extension would not detract them from the work that they had already begun. The four recommendations from SBF are: A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up Grant small- and mid-cap listed companies more time to comply, for example, by one to two years; Make disclosure requirements proportionate for small- and mid-cap listed companies; Provide Singapore-relevant cross-sector and sector-specific guidance; and Designate a central platform for digital reporting of climate-related disclosures. These recommendations apply to the small- and mid-sized listcos which make up 84 per cent of SGX-listings, since not all listings (including secondary-listed issuers) are subject to sustainability-reporting requirements. Kok Ping Soon, chief executive of SBF, said: 'Our key recommendation is to extend their compliance deadline, after engaging close to 40 small- and mid-cap listed companies. This does not represent a step back from Singapore's climate-reporting ambitions, but is a practical measure to provide smaller listed companies more time to strengthen internal capabilities and incorporate best practices after larger listed companies make their ISSB disclosures for FY2025.' While preparations for ISSB climate reporting are underway, a deadline extension would enable small- and mid-cap companies to, for example, prepare subsidiaries which may be based overseas. It would also strengthen data collection systems and enable these smaller businesses to take guidance from the FY2025 ISSB reports by larger listed companies. Extending the deadline would also enable small- and mid-cap listed companies to be eligible for the Sustainability Reporting Grant (SRG) by the Economic Development Board and Enterprise Singapore, given that the SRG is awarded only to reports filed before compliance for mandatory climate-related disclosures kicks in. He also stressed SBF's recommendation of increasing awareness and application of proportionality mechanisms, with more guidance within and across sectors relevant to the city-state. 'These will help smaller listed companies in Singapore take full advantage of any compliance deadline extension to more effectively transition their business,' Kok said.

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