Latest news with #SINGAPORE
Barnama
5 days ago
- Business
- Barnama
Top News Headlines In Indonesia, Myanmar, Singapore, Thailand & Vietnam: May 25, 2025
The government is set to reintroduce electricity bill discounts for low-power households starting June 5, as part of a broader stimulus package aimed at boosting purchasing power. The Indonesian government announced a package of economic stimuli to boost people's purchasing power in the second quarter (Q2) of 2025, including a 50-per cent electricity discount for 79.3 million households in June and July. PREVENTIVE ACTION AS MONSOON LOOMS -- THE GLOBAL NEW LIGHT OF MYANMAR The Health Ministry is stepping up efforts on the prevention and control of respiratory infectious diseases that are prevalent during the monsoon season and COVID-19 preventive measures. Surveillance at airports, seaports and border camps has been enhanced. AGRI AND LIVESTOCK EXPORTS TO BOOST ECONOMY -- THE GLOBAL NEW LIGHT OF MYANMAR The government is encouraging citizens to prioritise agricultural and livestock production for exports. These sectors can generate income and improve the socioeconomic conditions. Bamboo pulp, consumer products made from bamboo and food products have export potentials. SINGAPORE 1. SPOTLIGHT ON BILLIONAIRES AND TYCOONS WHO CHOSE SINGAPORE TO SET UP THEIR FOUNDATIONS FOR CHARITY WORK -- THE STRAITS TIMES Some of the richest people in the world, such as American hedge fund billionaire Ray Dalio, Indonesian coal king Low Tuck Kwong and Brazil-born Facebook co-founder Eduardo Saverin, have set up foundations in Singapore to give to charitable causes in the past three years. TRUMP TARIFFS, ASEAN SUMMIT TO PRIORITISE NEW TRADE LINKS WITH OTHER POWERS: ANALYSTS -- CNA Diversification is likely to be the underlying theme at the upcoming 46th Association of Southeast Asian Nations (ASEAN) summit, as the bloc seeks new partnerships and closer ties with other major powers to cushion the impact from United States President Donald Trump's tariffs and isolationist policies, analysts say. THAILAND 1. MAE SAI FLOODING: MILITARY REINFORCES FLOOD BARRIERS, CLEARS DEBRIS UNDER THAI-MYANMAR FRIENDSHIP BRIDGE -- THE NATION Residents of Mae Sai and nearby areas are urged to stay vigilant and monitor updates from the authorities as the situation remains fluid and further rain is expected. 2. AI CAMERAS NET SUSPECTS IN TOURISTS HOT SPOTS MOMENTS AFTER THEIR DETECTION -- BANGKOK POST Tourism police have deployed AI-powered surveillance cameras at hot spots nationwide, resulting in nearly 200 arrests since July 2024. VIETNAM ONLINE GAMBLING GANG CRIPPLED -- VIETNAMPLUS Vietnamese and Lao police have smashed a major cross-border illegal online gambling syndicate involved in about RM210 million (US$50 million) worth of bets. Nearly 30 Vietnamese suspects involved in operating gambling websites and online betting platforms were detained. MANGOES DOMINATE CHINESE MARKET -- VIETNAMPLUS Vietnamese mangoes managed to capture 97 per cent of China's mango import market share in the first quarter of this year. This achievement was largely due to competitive pricing, maintaining consistent quality and timely supply. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
Straits Times
7 days ago
- Business
- Straits Times
Me and My Money: Striving for financial stability, she started a side hustle at age 9
Ms Claire Tan went from selling paper stars to classmates at age nine to running her own make-up business. ST PHOTO: DESMOND WEE Me and My Money: Striving for financial stability, she started a side hustle at age 9 SINGAPORE - Becoming self-sufficient and achieving financial stability has always been the holy grail for Ms Claire Tan. From the age of nine, she has been on the hustle train, from selling paper stars to her classmates to baking goods for sale during special occasions. Now, Ms Tan, 26, also has two money-generating gigs going, as a real estate agent with ERA but also as the owner of her own Korean-style make-up business. It all began when she started doing bridal make-up to earn some cash at age 17. By the time she was 20, she had left Ngee Ann Polytechnic to focus on setting up her own business called Ladyy Claire Makeup, which provides make-up and hairstyling services specifically designed for sensitive skin. Her desire to achieve financial self-sufficiency started at a young age due to her family background. 'I grew up in a single-parent, low-income family and in that environment of scarcity, I knew that I had only myself to depend on for survival. From a very young age, I was focused and prudent about saving, earning and investing money because, unlike many of my peers, I was starting from a deficit,' she said. 'Therefore, making smart decisions, especially in making my money work hard for me, was essential.' When she was younger, she had only $2.50 to buy lunch for her younger brother and herself, she added. 'We could only order one fish burger from the Western food stall because that was the cheapest option. We didn't even have enough to order a drink. My brother was a sweetheart and reassured me that the burger was yummy, but I felt really useless at that moment,' Ms Tan said. 'It was then I realised that money is really important to provide for our loved ones. 'I promised myself to become self-sufficient so he would have someone to rely on if life became difficult. This commitment has been my main motivation for working hard and remains so to this day.' Ms Tan, who is single, said her difficult background has taught her money habits that last till today. 'After receiving my profits or earnings, I prioritise setting some aside for my savings and investments before spending,' she said. 'Additionally, I commit to substantial investment plans to plan for my retirement and am also saving money for my ideal property in the meantime.' Q: What do you invest in and why? A: I invest in stocks and reinvest back into my businesses. I also have several investment plans with my financial adviser, and am looking into property investments soon. My approach centres on diversification. While people often compare between stocks and property, I advise clients that these two are not mutually exclusive; having both is essential. This belief guides my own investment strategy as well. Q: How did you get interested in investing? A: My first exposure to investing was at 17, when I started a $250 savings plan to begin saving for my retirement. Q: What has been your biggest financial mistake? A: My biggest financial mistake was engaging in short-term trading without a strong understanding of the market. During a brief three-month period at the peak of Covid-19, I lost about $8,000. I realised that having a deeper knowledge of the market would have been beneficial before making such investments. Q: What has been your best financial decision to date? A: My best financial decision has been reinvesting profits back into my businesses. While this step can sometimes be overlooked, it is often the most important investment for ensuring continued growth and success. Q: Where's home for you? A: I live in an apartment in the east. Q: What do you drive? A: I prefer taking Grab due to the convenience. Q: What was your childhood dream? A: My childhood dream was to be a professional dancer. I fulfilled this dream in my teenage years, becoming a dance instructor at 17. I continued teaching until two years ago. Q: What was your first job? A: My first job was at a quaint bookstore when I was nine years old, where I helped the auntie arrange pens and pencils for sale, handling basic stock-taking and performing cashier duties – earning $3 an hour. I never stopped working since that age. After working and earning some capital from my bookstore job, I used that money to buy origami paper and star paper strips to make cranes and foldable stars, which I sold to my classmates for a profit during special occasions such as Mother's Day or Father's Day. I also picked up baking out of interest, but because we did not have an oven at home, I could only experiment with non-bake recipes and honed my skills from there. When I was 11 to 12 years old, I ran a pre-order blogshop for Domo and Elmo merchandise (T-shirts mainly) for a profit. It was going well until one day I found my wallet empty; my father had taken the money to gamble, and I cried. In secondary school, with another blogshop venture, I also bought an oven and made brownies to sell for profit during Valentine's Day and Mother's Day to my schoolmates. I continued these activities ad hoc, at a slow pace, until I was 16, the legal age to start working. I finally landed my first official job as a retail assistant and make-up artist with Estée Lauder. That's when I experienced a job with a commission structure. I worked almost every day after my O levels, did not travel and fought for sales. I was the top salesperson every single month for six months before starting polytechnic. My time in polytechnic was hectic. I started learning professional make-up and entered the bridal industry, doing freelance work to build my portfolio. I also taught two genres of street dance at four different studios. At the same time, I juggled a freelance marketing and business development role, helping an eyelash salon with its marketing efforts. Additionally, I completed a tax internship at a local company and a marketing and accounting internship with a recruitment firm in Shanghai. When I came back, I decided not to pursue my studies further, as I wanted to focus fully on working and seizing business opportunities, so I dropped out. That's when I started Ladyy Claire Makeup, and a few years later, once that was stable, I ventured into real estate. One of the things I am proud of in my real estate career is participating in property reality series Home Run: Singapore, where I won the title of top agent. Q: What would your perfect day look like? A: To me, a perfect day would be waking up at a quiet resort with a linear sea view and a pristine sandy beach, with no to-dos on my list. Money Matters Q: What would you do if you suddenly had a windfall of millions? A: I would immediately make a down payment on my next property. Q: If you suddenly only had $100 to your name, what would you do with it? A: I've been there before. I'd use that $100 as capital to make more money through low-cost businesses such as baking. Sue-Ann Tan is a business correspondent at The Straits Times covering capital markets and sustainable finance. Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Wire
22-05-2025
- Business
- Business Wire
Cosmic Wire and Sovereign Wealth Management Reshape the Future
LOS ANGELES & SINGAPORE--(BUSINESS WIRE)--Cosmic Wire, a pioneering technology company behind blockchain-based memory, compression and spatial web infrastructure, has entered a strategic partnership with Sovereign Wealth Management Pte Ltd. (SWM), a high-level strategy firm and capital syndicate. The collaboration is set to accelerate the development and deployment of decentralized infrastructure across global systems, from finance to digital identity, through blockchain memory, volumetric data and the spatial web. The partnership combines Cosmic Wire's innovations of compression-based memory, volumetric intelligence and the RYSK protocol to solve the critical bottleneck between blockchain theory and real-world adoption. Where SWM brings sovereign-grade capital, global financial networks and tokenization expertise, Cosmic Wire provides the missing technical layer and a framework where value and data move seamlessly across physical and digital worlds. Together the companies are enabling nations and enterprises to operate natively on the blockchain with trustless efficiency at scale. 'More than building a new internet, we are architecting a new dimension,' said Jerad Finck, CEO of Cosmic Wire. 'This partnership gives us the velocity and global reach to bring our RYSK-based volumetric intelligence and blockchain memory infrastructure into sovereign-scale applications such as finance, governance, trade and human interaction.' SWM has historically focused on early Bitcoin mining, sovereign tokenization and bridging the gap between decentralized technologies and nation-state finance. The partnership with Cosmic Wire signals a push toward sovereign-anchored blockchain ecosystems that are spatially aware, tamper-proof and designed for a post-platform era. 'Cosmic Wire has built what many have only theorized,' said Dunstan Teo, founder of Sovereign Wealth Management Pte Ltd. 'Their compression agent, blockchain memory and volumetric intelligence stack are what is needed to lift the blockchain from ledger to living system. We see this partnership as an opportunity to back the future fabric of how nations store value, exchange knowledge and even define trust.' The companies plan to begin deployment of their integrated stack in select sovereign and enterprise-grade pilot programs within the next 90 days, targeting use cases such as cross-border trade automation, AI-assisted governance, digital twin cities and tokenized physical infrastructure. Sovereign Wealth Management Pte Ltd is a high-level strategy firm and capital syndicate specializing in tokenization, sovereign asset modeling and cross-chain finance. With deep roots in Bitcoin's earliest movements and government-level blockchain advisory, SWM drives next-phase infrastructure for global wealth systems. The company was founded by Dunstan Teo, a Bitcoin pioneer and global macro strategist. More information is available at Cosmic Wire is a next-generation blockchain infrastructure company specializing in compression-based memory, the spatial web, volumetric intelligence and powering sovereign data. Built on proprietary protocols and AI systems, Cosmic Wire delivers embedded intelligence to every layer of digital interaction from the edge to the core. From entertainment and finance to defense and healthcare, Cosmic Wire enables provable transparency and immutable chain of custody for next-generation platforms. The company is headquartered in Miami, FL. More information is available at
Straits Times
22-05-2025
- General
- Straits Times
Fire breaks out in industrial building in Tuas, no injuries reported
The fire was extinguished using two water jets and an unmanned firefighting machine. PHOTO: SINGAPORE CIVIL DEFENCE FORCE/FACEBOOK Fire breaks out in industrial building in Tuas, no injuries reported SINGAPORE - A fire broke out in a warehouse in Tuas on the morning of May 22. No injuries were reported. In a Facebook post, the Singapore Civil Defence Force (SCDF) said it was alerted to the fire at 4 Tuas Avenue 18 at about 10am. The fire involved waste materials contained in an area measuring about 5m by 5m within a warehouse, it said. The fire was extinguished using two water jets and an unmanned firefighting machine. The cause of the fire is under investigation. This marks the second industrial fire in May, following the first incident on May 9 in Tampines which involved textile items in a building. Earlier in April, a fire broke out at a warehouse in Pioneer. Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
22-05-2025
- Straits Times
3 men arrested for allegedly evading over $936k in cigarette duties and taxes
Two of the men arrested and the duty-unpaid cigarettes seized. PHOTO: SINGAPORE CUSTOMS 3 men arrested for allegedly evading over $936k in cigarette duties and taxes SINGAPORE - Three men were arrested for allegedly evading over $936,000 in cigarette duties and taxes following enforcement operations earlier in May. In a media statement on May 22, Singapore Customs said that officers seized a lorry and a total of 8,642 cartons and one packet of duty-unpaid cigarettes on May 9 and 10 in Bukit Batok Crescent and Tampines Industrial Crescent. The total duty and goods and services tax (GST) evaded amounted to about $936,093, it said. On May 9, Customs officers observed a man - a 3 9-year-old Chinese national - p ushing a trolley loaded with brown boxes towards a parked lorry at an industrial building in Bukit Batok Crescen t. Two other men - a 25-year-old Singapore permanent resident and a 33-year-old Chinese national - were also seen transferring additional boxes into the lorry. When officers moved in to conduct checks, the 39-year-old man fled in a van but was later nabbed at a carpark in Lorong 25A Geylang . A total of 4,320 cartons of duty-unpaid cigarettes, along with a consignment of stretch film, were found in the lorry, at the lift lobby of the industrial building, and in one of the units in the building. A search of the 33-year- old man's residence uncovered an additional two cartons and one packet of duty-unpaid cigarettes. Investigations revealed that th e 39-year-old m an was allegedly engaged by an unknown individual to deliver boxes of duty-unpaid cigarettes from a warehouse in Ta mpines Industrial Crescen t to Bukit Batok Crescent. The 2 5-year-old man was believed to have been separately hired to drive the lorry and assist the 33-year-old man in delivering the duty-unpaid cigarettes to customers. Singapore Customs conducted a follow-up operation o n May 10 at a warehouse in Tampines Industrial Crescent, where officers discovered another 4,320 cartons of duty-unpaid cigarettes concealed within six pallets, along with another consignment of stretch film. A lorry and 8,642 cartons and one packet of duty-unpaid cigarettes were seized during enforcement operations on May 9 and 10. PHOTO: SINGAPORE CUSTOMS All three men were arrested and court proceedings are ongoing. In its statement, Singapore Customs reminded the public that buying, selling, conveying, delivering, storing, keeping, possessing, or dealing with duty-unpaid goods are serious offences under the Customs Act and the GST Act. Offenders can be fined up to 40 times the amount of duty and GST evaded, jailed for up to six years or both . Vehicles used in such offences may also be forfeited. Members of the public with information on smuggling activities or evasion of duty or GST can report it at Join ST's WhatsApp Channel and get the latest news and must-reads.
