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Independent Singapore
12 hours ago
- Business
- Independent Singapore
Keppel announces S$500M share buyback programme after 24.2% YoY earnings increase to S$377.7M in H1 FY2025
Photo: Facebook/Desmond Lee SINGAPORE: Keppel Corporation has announced a share buyback programme of up to S$500 million after reporting higher earnings for the first half of FY2025 (H1 FY2025). Earnings rose 24.2% year-on-year to S$377.7 million for the six months ended June, although revenue fell 5.2% to S$3.06 billion, partly due to lower utilities sales, as reported by The Edge Singapore . In a media release on Thursday (July 31), the company said, 'Shares repurchased will be held as treasury shares, which will be used in part for the annual vesting of employee share plans, and as possible currency for future merger and acquisition activities.' The company also posted a higher net profit of S$431 million, up 25% YoY compared to S$345 million from the same period last year, excluding non-core portfolio assets held for divestment, thanks to steady earnings in its infrastructure segment and stronger real estate contributions. CEO Loh Chin Hua said, 'By reporting the non-core portfolio separately, we aim to provide greater transparency on our performance as a global asset manager and operator.' Recurring income also rose by 7% to S$444 million. As of end-June 2025, the company's funds under management (FUM) grew to S$91 billion amid active capital raising efforts, while asset management fees reached S$195 million. Keppel also announced S$915 million worth of asset sales so far this year, with over S$500 million in potential divestments currently being negotiated. The group plans to maintain its interim dividend at 15 cents per share, the same as last year. /TISG Read also: Keppel's Bifrost Cable System gets regulatory approval for 2025 launch connecting Singapore to North America () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
Straits Times
23-07-2025
- Straits Times
Money, housing and isolation the biggest struggles for youth leaving children's homes: Study
Find out what's new on ST website and app. Singapore has about 500 children in 19 residential homes. While most reunite with their families by the age of 21, around 30 are unable to do so each year. SINGAPORE - Earning money and finding a place to live are among the biggest concerns that young adults have when they age out of children's homes, according to a new report by two non-profit organisations. Released on July 23, the study by the Children's Aid Society (CAS) and Quantedge Foundation (Singapore) found that many young people also felt lonely after leaving the home, and had difficulties communicating and resolving conflict with housemates. The majority had, at most, ITE-level qualifications and a median monthly income of $800. The study found that many did not qualify for public housing due to age or marital status, while private rental was unaffordable. Researchers surveyed 10 residents from Melrose Home, which is run by CAS, and spoke to five CAS staff. Understanding the needs of such young people is crucial to offering better support, said Education Minister and Minister-in-charge of Social Services Integration Desmond Lee, who was the guest of honour at the study's launch at Capital Tower. Singapore has about 500 children in 19 residential homes. While most reunite with their families by the age of 21 – when they are required to leave the home – around 30 are unable to do so each year. For this group, the transition to independent living means they have to juggle education, finances, housing and the demands of living alone, often with limited support. Trauma is often a complicating factor. Residents at Melrose Home have an average Adverse Childhood Experiences (ACE) score of six out of 10 – or six potentially traumatic events in their lifetime. Top stories Swipe. Select. Stay informed. 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In July 2024, the Ministry of Social and Family Development announced a scheme to provide greater support – including financial assistance – to young people aged 17 to 21 in children's homes who cannot go back to their families. These include those in school, undergoing training or internships, or serving national service. The support continues until they complete higher education or secure full-time employment. 'Strengthening our partnerships is key to amplifying and sustaining the impact of our good work,' said Mr Lee. 'The study's findings show that the journey of care leavers is rarely straightforward, and we need a sustained effort across all of society to support them to overcome the challenges they face.' Public agencies, community groups and philanthropic organisations can build on the findings to deepen collaboration. Businesses can provide funding, while social service agencies can match youth with seniors in co-living arrangements, Mr Lee suggested. Children's homes have also been stepping up support for these young people. In October 2024, The Straits Times reported that several homes had launched programmes to help youth secure jobs, housing and life skills. These include The Hearts Programme by Chen Su Lan Methodist Children's Home, which offers personalised transition plans, life skills training and housing assistance for those aged 13 and above. Education Minister Desmond Lee viewing a gallery at the launch of the study at Capital Tower on July 23. Also pictured with him is Children's Aid Society executive director Alvin Goh (foreground), and Quantedge Foundation CEO Xie Yao Quan (background). ST PHOTO: GAVIN FOO Another such initiative is Thrive21+, run by CAS, which includes a transitional housing programme that was the basis for the new study. Launched in 2022, the three-year programme supports youth aged 17 and above as they prepare to leave care. It includes a year of in-home preparation, including financial management and housekeeping, followed by two years of support after they move out. Four people are currently in the programme, while four others have completed it. The study found that youth in CAS' housing programme made improvements in 14 out of 15 life skills categories, including money management, health, housing and legal knowledge. CAS executive director Alvin Goh said that when the housing programme was first launched, people hesitate to rent to four boys from a children's home. But once housing was secured, the boys could focus on school, work and reconnecting with their communities. Stable housing is just the beginning, Mr Goh said, adding that social capital is of equal importance. This includes having a support system and a sense of belonging. 'For that to happen, consistent support is key, so that the progress made during care doesn't unravel the moment they leave,' he said.
New Paper
23-07-2025
- Business
- New Paper
FairPrice Group Food rescue initiative to have 60 distribution points
More vegetables and fruits will be shared with lower-income families and the elderly as FairPrice Group plans to expands its food rescue initiative to 60 distribution points by end-2025. The Neighbourhood Food Share (NFS) programme gives away vegetables and fruits that cannot be sold in supermarkets due to defects in their appearance but are not spoilt. It started in September 2023 with 15 distribution points and now has 51, providing more than two tonnes of fruits and vegetables a month. Since its launch, it has distributed close to 30 tonnes of fresh produce, and serves more than 25,000 beneficiaries a year. Minister-in-charge of Social Services Integration Desmond Lee said on July 23 that initiatives like this NFS are important because resources in Singapore are scarce. These programmes can only run because of the unspoken social compact in Singapore, where everyone is prepared to work together, he said at an event in Boon Lay to announce the expansion of NFS. For NFS, FairPrice Group leverages on its networks and supermarkets to provide good produce, on-the-ground groups work to publicise the events to those in need, and volunteers collect items and set up the distribution points, Mr Lee said. "We think about ways to work together to benefit society and people, and many of us are prepared to step forward and volunteer," he added. Other groups in Singapore that work towards reducing food wastage include Food from the Heart and The Food Bank Singapore, both of which collect unsold or excess food to be distributed to the public. FairPrice Group, which turns 52 in 2025, works with the People's Association and on-the-ground groups like social service agencies to connect disadvantaged residents or lower-income families with distribution events. They conduct outreach to ensure these families know when free produce is being given out nearby. In 2023, the National Environment Agency found that Singapore disposed of more than 755,000 tonnes of food waste, with a significant portion ending up in landfills. A portion of this waste is attributed to food nearing its expiry date or being deemed visually unappealing, even if it is still edible, the agency said. Madam Alice Lim, 89, was among more than 200 seniors who collected fresh produce at the July 23 event in Boon Lay. FairPrice Group has a distribution point near her home which gives out fruits and vegetables weekly. More than 1,400 families in Boon Lay benefit from the initiative. Madam Lim has lived in Boon Lay for 15 years. After her husband's death in 2020, she found it hard to leave her flat correct and would only walk nearby in the estate. "I am glad there is something like this near me. I don't like wasting food, so at least these things are going to us and not a dustbin," she said.
Straits Times
23-07-2025
- Business
- Straits Times
Food rescue initiative by FairPrice Group to expand to 60 distribution points
SINGAPORE - More vegetables and fruits will be shared with lower-income families and the elderly as FairPrice Group plans to expands its food rescue initiative to 60 distribution points by end-2025. The Neighbourhood Food Share (NFS) programme gives away vegetables and fruits that cannot be sold in supermarkets due to defects in their appearance but are not spoilt. It started in September 2023 with 15 distribution points and now has 51, providing more than two tonnes of fruits and vegetables a month. Since its launch, it has distributed close to 30 tonnes of fresh produce, and serves more than 25,000 beneficiaries a year. Minister-in-charge of Social Services Integration Desmond Lee said on July 23 that initiatives like this NFS are important because resources in Singapore are scarce. These programmes can only run because of the unspoken social compact in Singapore, where everyone is prepared to work together, he said at an event in Boon Lay to announce the expansion of NFS . For NFS, FairPrice Group leverages on its networks and supermarkets to provide good produce, on-the-ground groups work to publicise the events to those in need, and volunteers collect items and set up the distribution points, Mr Lee said. 'We think about ways to work together to benefit society and people, and many of us are prepared to step forward and volunteer,' he added. Other groups in Singapore that work towards reducing food wastage include Food from the Heart and The Food Bank Singapore, both of which collect unsold or excess food to be distributed to the public. FairPrice Group, which turns 52 in 2025, works with the People's Association and on-the-ground groups like social service agencies to connect disadvantaged residents or lower-income families with distribution events. They conduct outreach to ensure these families know when free produce is being given out nearby . In 2023, the National Environment Agency found that Singapore disposed of more than 755,000 tonnes of food waste, with a significant portion ending up in landfills. A portion of this waste is attributed to food nearing its expiry date or being deemed visually unappealing, even if it is still edible, the agency said. Madam Alice Lim, 89, was among more than 200 seniors who collected fresh produce at the July 23 event in Boon Lay. FairPrice Group has a distribution point near her home which gives out fruits and vegetables weekly. M ore than 1,400 families in Boon Lay benefit from the initiative. Madam Lim has lived in Boon Lay for 15 years. After her husband's death in 2020, she found it hard to leave her flat correct and would only walk nearby in the estate. 'I am glad there is something like this near me. I don't like wasting food, so at least these things are going to us and not a dustbin,' she said.
CNA
20-07-2025
- General
- CNA
Commentary: Will cutting administrative work help schools recruit more teachers?
SINGAPORE: The need to recruit and retain good teachers is a constant in Singapore. The Ministry of Education (MOE) said it plans to hire more than 1,000 teachers annually, up from 700, to strengthen the teaching workforce in anticipation of more retirements. In a similar vein, the National Institute of Education (NIE) will shorten its postgraduate programme for teachers-in-training from 16 months to 12 months. It will give them more flexibility to take elective courses based on their interests, and upon graduation, more support for professional learning in classrooms. This is part of an ongoing review to meet the needs of a diverse teaching force and attract individuals with the right values and motivations to become teachers. But how successful will such efforts be when overwork is a chronic issue in the profession? TEACHERS DO MORE THAN TEACH Minister for Education Desmond Lee recently highlighted efforts made to reduce teachers' administrative workload, such as simplifying procurement processes and no longer requiring teachers to collate absentee records. This is so that teachers can 'focus on what matters most – helping our students to learn and grow well'. However, teachers do far more than just delivering content to students. They must assume various roles and responsibilities, which have morphed with MOE reforms. For instance, teachers must now meet individual learners' needs through differentiated instruction and inquiry-based learning. Artificial intelligence has made the tasks of planning and delivering lessons, as well as marking students' work, more complex than it was a decade ago. The avenues for students to learn have also expanded to include overseas immersion trips, cohort learning journeys and outdoor adventure learning camps, all of which require teachers to spend time on the planning and carrying out of these activities. THE CHALLENGING TASK OF CARING FOR STUDENTS Another major MOE focus is students' social and emotional well-being. All teachers have a shared responsibility to foster a 'caring and enabling school environment', which includes building positive teacher-student relationships and peer relationships among students. This task cannot be accomplished overnight, nor is it easily quantified. The idea of 'care' is a powerful and at times challenging one for teachers. For instance, teachers play a crucial role in detecting signs of student self-harm or domestic child abuse. Some teachers take on the task of patrolling the neighbourhood around the school after the school day has ended in a bid to ensure students' safety and well-being. In 2022, then Minister for Education Chan Chun Sing rejected the idea of imposing an upper limit on teachers' work hours as 'unrealistic' because teachers would still work 'way beyond' what is expected of them. Partnerships with parents are also an important aspect of teachers' work. Some teachers text parents with instructions regarding students' homework. Others conduct workshops for parents on topics such as supporting children in learning mathematics and enhancing children's English language skills. Here, as in the case of teacher-student relationships, the boundaries between work and personal time may get blurred at times. The MOE has issued two sets of guidelines, first in 2019 and then in 2024, in a bid to for non-urgent matters. Besides their work with students and parents, teachers must also dedicate time to their professional development through activities like mentoring colleagues and participating in workshops. NOT SO SIMPLE TO CUT A TEACHER'S WORKLOAD Calls to let teachers focus on teaching neglect the reality that working with students involves much more than lesson preparation and marking. Teachers, as frontline individuals who interact with students daily, will inevitably be roped into administrative work, and serve as the main point of contact for parents. Artificial intelligence is often held up as a promising tool for teachers in the tasks of teaching and assessment. However, teachers must still spend time interpreting and reviewing the output of AI assistants before providing feedback to students. Hence, current MOE initiatives to ease teacher workload, such as streamlining of administrative processes, the use of technology and allowing schools greater flexibility in implementing certain policy initiatives, can only go so far. Aspiring teachers must be aware that the moral purpose of 'care' underlies a teacher's work. As former Second Minister for Education Maliki Osman pointed out in 2024, 'a teacher is one who is there to guide the student, go through the education journey holistically so that students also understand the teacher is available at any point in time'. They therefore need to ask themselves whether their personalities and values are well-suited for the demands of teaching. Founding Prime Minister Lee Kuan Yew said in1966, 'If I have to choose one profession in which you give the most for the least, it is probably teaching – if you take it seriously'. These are sobering words to bear in mind as teachers' workload continues to grow more complex in response to changes in the wider education landscape.
