Latest news with #Kuan
Global News
4 days ago
- Health
- Global News
Residents advised to take precautions as smoke fills Saskatchewan's skies
Going outside this weekend may be difficult for some as wildfire smoke begins to move south. Lung Saskatchewan president Erin Kuan says the best thing one can do to protect themselves is to stay indoors to avoid the smoke. Some signs that your body is not doing well in the smoke is headaches, watery eyes, scratchy throat and generally feeling unwell. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy If those symptoms occur, Kuan says to head indoors, whether that be a mall, library or any area with air conditioning. When going inside is not an option, Kuan recommends wearing a 95-style mask. The Central Urban Metis Federation (CUMFI) by St. Paul's Hospital in Saskatoon is handing out masks to the homeless who are forced to stay outdoors. CUMFI is also accepting donations for evacuees in Saskatoon. They will be collecting items such as personal hygiene products, water, diapers, bathing suits, toys and clean summer clothing. CUMFI will then deliver the items to evacuees around the city. Story continues below advertisement Watch the video above to find out more about how the smoke is affecting Saskatoon.
Yahoo
23-05-2025
- Business
- Yahoo
We're facing a student loan default crisis. This academic research might help
How information is presented can have an outsize impact on your actions. Behavioral scientists at the University of Pennsylvania's Wharton School recently tested a similar theory. They wondered if the right messaging — in the form of a 'nudge,' or reminder — could help struggling student loan borrowers. 'There have been large studies that have shown nudges can work in vaccinations or helping to reduce failure to appear in court,' says Robert Kuan, a third-year PhD student at Wharton who co-authored a January study in partnership with the Biden Administration's Education Department. 'But we didn't really know if it would work for student loan repayment.' It did. Performed in the fall of 2023 (after the COVID-19-caused pause on monthly payments), the study sent various types of emails to federal loan borrowers about their repayment options. Those nudges reduced credit-harming delinquencies by 0.42 percent. That might not seem like a lot, but if the research team had scaled the best-performing nudge to all of the nearly 13 million federal loan borrowers included in the study, they could have helped about 80,000 borrowers nationwide avoid delinquency. The Department of Education resumed debt collection on May 5 for five million federal student loan borrowers who are in default (or more than 360 days delinquent). By their own accounting, the number could grow to 10 million by the summer. Put another way: The $1.6 trillion student loan crisis, which has no apparent end in sight, is looking more and more bleak by the day, particularly for those far behind in repayment. But the Wharton study — 'Behavioral Nudges Prevent Loan Delinquencies at Scale' — may be a glimmer of light. It shows how an Education Department that's well-intentioned and well-equipped to help borrowers along in repayment could make a small but significant dent in the country's overwhelming education debt. After all, nudges appear to work even for borrowers who might be most desperate to put their debt in a drawer, close it shut and not think about it. Money and mental health According to Bankrate's Money and Mental Health Survey, 43 percent of U.S. adults say money negatively impacts their mental health, at least occasionally, causing feelings of anxiety, stress, worrisome thoughts, loss of sleep, depression and other effects. 'This is what makes this experiment pretty surprising because we're sending emails to people who have missed a loan payment,' says Kuan. 'So, this is a difficult-to-move population.' And yet, the study showed a positive effect of emailed nudges: reduced delinquency and a higher rate of applying for income-driven repayment (IDR) plans that cap a borrower's monthly dues at a percentage of their discretionary income. (Though a Wharton school professor, Sylvain Catherine, co-authored separate research on whether IDR plans benefit borrowers in the long run.) They held an average of $34,655 in outstanding loans and owed an average of $340 per month. 63% had missed a payment by 60 days or more in the past. 21% had defaulted on a loan. 39% had graduated from college. Some borrowers received the Education Department's standard message after missing a payment. Other borrowers received a behavioral science-designed message encouraging them to apply for an IDR plan — while highlighting their potential savings — and/or to enroll in automatic payments. Some borrowers in the latter group also received a follow-up message (or second nudge). Kuan recognizes that we are in a different position than when the study was performed. Many of the Education Department officials he and his colleagues collaborated with are no longer employed there. Related reading: Biden Administration's top higher ed official: Dismantling the Education Department won't fix how Americans pay for college Plus, borrowers might have been paying more attention to a Biden Administration hell-bent on targeted loan forgiveness and generous repayment options, like the since-scuttled SAVE repayment plan. 'But it still is very promising that by sending people emails, they didn't just ignore them,' says Kuan. 'And we actually got people to take action and put themselves in a better financial position because of that.' In other cases, perhaps where borrowers aren't in or on the verge of delinquency or default, a helpful reminder to be actively engaged in repayment can't hurt. Worst-case scenario: It winds up in the borrower's spam folder. Best case: They save time, money and stress. For example, the Wharton study found that, just by sending a follow-up email, rates of applying to IDR plans rose by 10 percent, says Kuan. 'Not to say that nudges by themselves will change the world, because there's still, with student loans, structural solutions that we can think through, like loan forgiveness and making student loan debt easier to discharge under hardship circumstances,' says Kuan. 'Nudges aren't a replacement for those. But to the extent that we might be politically divided and structural solutions aren't viable, then nudges are a great complement. They're cost-effective, they leverage psychological insights, and they can be implemented at scale.' Kuan's "surprising" study results Percentages beat dollars. Borrowers who received messages of their potential IDR-related savings in percentage form were more likely to take action than peers who received messages about equal-sized savings presented in dollars and cents. Simpler isn't always better. Borrowers who received messages recommending two actions (say, applying for IDR and enrolling in autopay) were more likely to act than borrowers who received a simpler, one-action recommendation. Kuan received Pell Grant funds and borrowed student loans for his undergraduate degree. He credited his first post-college job with helping to aggressively repay education debt. So, he has a 'personal' tie to America's education debt problem, even if he can't directly relate to the most distressed borrowers. 'In our dataset of 13 million borrowers, there are some people with hundreds of thousands of dollars in student loans,' says Kuan. 'And I can only imagine how a person thinks about paying something that they think they can never [fully] repay. So, that is something that I think must be so demoralizing for an individual.' The Wharton study is a low-cost solution for the Education Department to help some of these borrowers. But, as Kuan acknowledged, it's not a universal problem-solver. If you're feeling demoralized, consider that, as bleak as it may seem, there's always a best next choice for your repayment. You might investigate options like those highlighted in the study: IDR can be a way to temporarily or permanently lower your monthly dues to fit within your budget. Autopay is a simple hack for avoiding late payments (and earning an interest-rate reduction in some cases). Other repayment strategies to consider include: Federal loan forgiveness: There are various ways to discharge student loan debt, including Public Service Loan Forgiveness for government and nonprofit workers at eligible employers. Loan repayment assistance: For federal or private loans, seek out aid programs from states, private organizations and even companies that pay off student loans. Repayment pauses: Postponing your payments temporarily via deferment or forbearance for federal loans and via some private lenders can be useful if you need time to rebuild your income or fix your budget — but interest usually accrues during such pauses. Make extra payments: This can cut down the accrual and compounding of student loan interest. One popular method is repaying your student loans biweekly. Student loan refinancing: Creditworthy applicants can seek a lower interest rate by refinancing with a private lender — at the risk of permanently forfeiting federal loan protections. If you're in dire need of help, don't hesitate to ask. You might consider contacting your federal loan servicer, the Education Department's Default Resolution group or working with a certified student loan counselor or lawyer. Consider this a nudge. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New Straits Times
06-05-2025
- Business
- New Straits Times
Hartalega FY25 net profit surges nearly six-fold to RM75mil
KUALA LUMPUR: Hartalega Holdings Bhd's net profit for the financial year ended March 31, 2025 (FY25) surged nearly six-fold to RM74.54 million from RM12.50 million a year earlier, driven by stronger sales volume. Revenue rose 40.76 per cent to RM2.59 billion, compared with RM1.84 billion a year earlier. "The significant increase of RM747 million or 41 per cent in revenue was mainly driven by a 40 per cent increase in sales volume," it said in a statement. For the fourth quarter (Q4) ended March 31, 2025, Hartalega recorded a net profit of RM14.48 million, slightly lower than the RM14.9 million posted a year earlier. Revenue for the quarter rose 15.3 per cent year-on-year to RM611.55 million, from RM530.34 million in the same quarter last year. Higher sales volume and stronger selling prices lifted revenue, but net profit was dragged down by increased non-operating expenses during the quarter. Hartalega chief executive officer Kuan Mun Leong said the group's full-year performance reflects encouraging signs of recovery for the sector. Nevertheless, he cautioned that the operating environment remains volatile, with the global rubber glove market still facing oversupply and ongoing pricing pressure. "In addition, US demand is expected to remain moderated in the near term following the earlier front-loading activities as well as the ongoing trade uncertainties. "However, despite the impact of escalating US-China trade tensions on the global trade landscape, this could also serve as a catalyst for Malaysian manufacturers to regain export market share in the US," he said. On the sector outlook, Kuan said the rubber glove industry's prospects remain positive. He said global demand has surpassed pre-pandemic levels and is expected to grow further, driven by rising healthcare needs, greater hygiene awareness and broader usage across medical and non-medical sectors.
The Star
06-05-2025
- Business
- The Star
Hartalega's net profit surges to RM74.54mil in FY25
KUALA LUMPUR: Hartalega Holdings Bhd 's performance in the financial year ended March 31, 2025 (FY25) - which registered a five-fold jump in bottomline - affirms encouraging signs of recovery for the glove sector. During the year, the glove maker posted a net profit of RM74.54mil, as compared to RM12.5mil in the previous year. It reported revenue of RM2.59bil, up from RM1.84bil in FY25. Earnings per share rose to 2.18 sen from 0.37 sen previously. In the fourth quarter of the year alone, Hartalega recorded a net profit of RM14.48mil, slightly lower than RM14.9mil in the year-ago quarter, on revenue of RM611.55mil, up from RM530.34mil in 4QFY24. The improved revenue was owing to higher sales volume and stronger average selling prices. However, the group said net profit was pulled lower by higher non-operating expenses recognised during the quarter under review. On outlook, CEO Kuan Mun Leong said the operating landscape remains volatile and competition in the global rubber glove market continues to be high with continued oversupply and pricing pressure. He also expects US demand to remain moderated over the near term due to earlier front-loading activities as well as the ongoing trade uncertainties. However, the escalating US-China tensions, while impacting the global trade landscape, could also serve as a catalayst for Malaysian manufacturers to regain export market share in the US, he added. 'Taking a long-term view, the rubber glove industry's prospects remain positive. "Global demand has already recovered beyond pre-pandemic levels and is set to grow further on the back of rising healthcare needs, heightened hygiene awareness and increasing usage across both medical and non-medical sectors," said Kuan in a statement.
Straits Times
22-04-2025
- Politics
- Straits Times
GE2025: With family at his core, WP new face Jasper Kuan says he's stepping up for the next generation
Mr Jasper Kuan says family is at the centre of everything that he does, and has shaped his views of what Singapore can be. ST PHOTO: CHONG JUN LIANG GE2025: With family at his core, WP new face Jasper Kuan says he's stepping up for the next generation SINGAPORE - Underneath an unassuming and genial manner, Mr Jasper Kuan has a fire in his belly. Sitting down with The Straits Times for an interview on April 22, days after he was unveiled as a new WP candidate for the 2025 General Election, the 46-year-old would often break into a hearty laugh and stop mid-conversation to wave to passing residents, to whom he is a familiar face. But get him started on issues close to his heart – be it education, social security or public transport – and the former teacher turned payments expert speaks with focus and zeal. 'I think there are people who are better qualified than me. People who are more eloquent than me. People who are better at policy. But my value is that I understand the pain that regular folk are feeling,' he said at the void deck of a Housing Board block in Hougang, where he has lived for a decade and been a WP volunteer for close to five years. Mr Kuan – who has two sons aged 11 and eight, and a five-year-old daughter – said family is at the centre of everything that he does, and has shaped his views of what Singapore can be. The son of a cabby and a stay-at-home mother, Mr Kuan said: 'We had enough. We were happy.' Things took a turn when he was in his late teens after his late father developed kidney failure and needed dialysis thrice a week. His late mother had throat cancer, which she battled for 20 years. 'She's a fighter. But every time she fought and won, her quality of life dropped. You could see it. Towards the last five years of her life, she was on a drip, and she couldn't eat or talk,' Mr Kuan recounted. He and his older sister were hit hard – financially and in spirit. But they pulled through with help from relatives, and it was this episode that made him feel strongly about the need for a stronger social safety net. 'I always tell people, I think I'm a very resilient person. You hit me, I'll stand up, and I'll come back to fight. But do I want the next generation to go through that? Can we do something about it? We can. The Government can. And this is where we need to step up,' he added. Mr Kuan said he hopes to see community touchpoints and networks such as family service centres and residents' committees being put to better use. He said he started volunteering at Meet-the-People Sessions (MPS) in Hougang as a case writer after the 2020 General Election, as he wanted to help residents. 'To me, it was apolitical. MPS is very neutral. It is all for the residents.' In 2021, he became secretariat assistant to incumbent Hougang MP Dennis Tan. He was subsequently Mr Tan's legislative assistant before becoming a party member. Mr Kuan also took a step down in his career as his grassroots work got heavier, moving from a director role at Mastercard to a senior manager post at Visa, where he is now the Asia-Pacific product lead for disputes solutions. Mr Tan eventually asked him to be a WP candidate at the upcoming election – a request that he initially turned down, Mr Kuan said, declining to say when this took place. 'I have a very comfortable life. I love my job... And I love my kids. I didn't want that to be shaken up,' Mr Kuan recalled. It was a conversation with former WP chief Low Thia Khiang that changed his mind. Mr Kuan said Mr Low had asked him if Singapore's current system would provide a future that he wanted for his children, and if Mr Kuan could contribute to changing this trajectory. 'He said, if you do this, it is not just for your family... You are actually doing things for an entire generation.' He said he connected with Mr Low as they are both former teachers. 'My belief in leadership is very similar to his... What you teach your children to do, you have to do yourself. Servant leadership is very important to me.' Before joining the finance sector in 2011, Mr Kuan had spent six years at Catholic High School, where he taught both mainstream and Gifted Education Programme classes. But he felt disheartened by the Ministry of Education's 'Teach Less, Learn More' initiative, which Mr Kuan believes has led to an over-reliance among students on after-school tuition courses. 'I felt that I needed a change. The policies that came in were not really reflective of how I perceived education to be,' he added. 'I feel very strongly that we need a certain level of equity... At least so that the kids that don't have the resources can move forward.' He echoed the proposal in the WP's 2025 election manifesto for an optional 10-year through-train programme that will allow students to progress from Primary 1 to Secondary 4 without taking the PSLE. 'The challenge is, can we find a way, not to totally remove it, but incrementally look at how we can re-prioritise.' During his time at Mastercard and Visa, Mr Kuan played a key role in enabling credit and debit card payments for public transport systems across Asia, including Japan, Hong Kong and Singapore. He said his time in the corporate world has led him to believe that competition drives better outcomes. 'If you have dominance for too long, innovation stops and everything gets stagnant,' he added. In the same vein, Mr Kuan said it is why he decided to support the WP, even as the world is becoming more turbulent. 'We always say in turbulent times, we want stability. That is true somewhat. But in turbulent times, you also don't want stagnation.' Over the past year, Mr Kuan has been seen walking the ground in the Tampines area. He was coy when asked if he would like to stand there if given the choice, hewing to the party line that all will be known on Nomination Day on April 23. Going outside the WP stronghold of Hougang, Mr Kuan said he was initially afraid of being rejected by residents. But he feels the ground has shifted. 'I think Singaporeans as a whole are becoming more aware of the need for a credible opposition,' he said. 'It's a good sign of a maturing democracy.' Join ST's WhatsApp Channel and get the latest news and must-reads.
