Latest news with #Siow
AsiaOne
2 days ago
- Business
- AsiaOne
Tengah and Brickland to have 8 new bus services by end 2026: Jeffrey Siow, Singapore News
Acting Minister for Transport and Senior Minister of State for Finance Jeffrey Siow has announced that Tengah and Brickland will have a total of eight new bus services within the next 18 months. Speaking to media on Sunday (June 8), Siow stated that two of these bus routes will be in service by the end of this year. Dr Choo Pei Ling, MP for Chua Chu Kang GRC, announced that bus service 872 will begin operating from Tengah Bus Interchange from Aug 10. It will provide a direct link for Tengah residents to Chinese Garden MRT station while passing through areas in Bukit Batok, Plantation Crescent and Jurong East. "We hope that residents like this National Day present from us," she said. The second bus service, which is still in the works, will begin at Brickland MRT station and pass through two MRT stations, according to Siow, who added that further details will be released closer to the end of this year. He also stated that the Land Transport Authority (LTA) will introduce two more express bus services in Tengah by the end of next year. Both routes will start at the Brickland area, with one going towards the city and the other to one-north. "These are designed to bring residents to their employment centres, to their jobs earlier, faster, more efficiently," he explained. Improving public transport options for new towns He added that four express feeder buses will also begin operating in the estate by the end of next year. They will connect Tengah to its four nearest MRT stations: Beauty World, Bukit Batok, Bukit Gombak and Jurong East. Aside from these short-term developments, Siow highlighted that in the five-year period, residents can look forward to the completion of the Jurong Region Line and shuttle services within the estate. Pointing out that a quarter of the new line's stations are located in Chua Chu Kang GRC, he said: "This will enable residents in our GRC to get onto the rail network very quickly and to be able to go to all parts of Singapore." "I am quite confident that we will be able to deploy autonomous vehicles... running short shuttle services... to places like the community centre, food centres or transport nodes," he added. Siow also spoke about the LTA and Ministry of Transport's plans to improve public transport options for new towns as a whole, stating that the difference in travel time between private and public transportation can be narrowed down for HDB estates "a little bit further" from the city. "If we can try to do that a little bit better, improving the walkability of the town, improving the density of the bus network, we should be able to bring the journey times down and make public transport more competitive with private transport," he said. Currently, it takes two to three times longer to travel from Tengah to the city by public transport as compared to private transport, said Siow, adding that he aims to cut the this down to one to two times longer. "We will be doing that all across Singapore at the estates that are further away from the city, that is my priority," he said. Community event in celebration of SG60 On Sunday morning, Siow, grassroots adviser for Chua Chu Kang GRC, attended the People's Association (PA) Family Playground 2025 event at Tengah Community Club (CC), which was held in celebration of SG60. Present alongside him were Chua Chu Kang GRC MPs Zhulkarnain Abdul Rahim and Dr Choo, as well as MP for the Hong Kah North division of Jurong East-Bukit Batok GRC Lee Hong Chuang. In his opening speech, Siow assured Tengah residents that they can look forward to improvements to their estate in the near future. Noting that many have voiced connectivity as one of the issues they face, Siow said: "I know that we are doing these things as residents are moving in, but it will become better very, very soon." The Tengah Bus Interchange opened on July 21 last year. With it, a new service 871 was introduced to connect Tengah to Bukit Batok West, Bukit Gombak and Beauty World. [[nid:694425]] Existing bus services 992 and 870 were also extended to better serve Tengah residents. Dr Choo, Zhulkarnain and Lee also addressed attendees — with the latter two speaking in Malay and Mandarin respectively. The advisers then interacted with families at the event booths, which comprised handicraft workshops as well as carnival games and food stands. They were seen posing for pictures with children, young couples and elderly residents. This event is one of five PA Family Playground programmes that will be held in various districts every weekend until July 5. It also saw a new Singapore Book of Records entry for the largest art montage made of recycled materials, which was created by 120 families over four hours.
CNBC
02-06-2025
- Business
- CNBC
As the TACO trade goes viral, another is gaining traction: 'Anywhere But The USA'
Seesawing trade policies , proposed foreign capital taxes and concerns over U.S. fiscal spending have propelled some investors to "Sell America" and given rise to a new trade: "Anywhere But the USA." Market participants have been scrambling to keep up with flip-flopping White House tariffs policy, a dollar selloff , a sharp rise in U.S. Treasury yields and volatile Wall Street stocks . It comes after the TACO — or "Trump Always Chickens Out" — trade ruffled feathers last week, as investors bet that U.S. President Donald Trump will ease or postpone steep tariffs despite threats to the contrary. Now, market participants say the hot trade is "Anywhere But the USA" — or ABUSA — amid what investment manager Ninety One's Alan Siow signaled was a "comfortable consensus" that U.S. exceptionalism was beginning to fade. "The 'Anywhere But USA' trade isn't contrarian — it's a recalibration toward global balance, cyclical recovery, and multi-polar growth," Siow, co-head of emerging market corporate debt, told CNBC. Over the past decade, he added, a widespread preference for U.S. assets had been "underpinned by secular strength in the [U.S. dollar] as a base currency." But confidence in the greenback has wavered in recent weeks. The U.S. dollar index has shed more than 8% since the beginning of the year, with the dollar now on course for its fifth consecutive month of losses . "Against a backdrop of mounting fiscal imbalances, the recent spike in policy volatility and resulting geopolitical polarization have caused U.S. market dominance to lose some of its luster," Siow explained. "At the same time, other global market destinations — [like emerging markets], Europe, Japan — offer improving fundamentals, attractive risk/reward profiles and are broadly under-owned." He added that he was advising investors to consider whether index-beating returns are now more likely to come from global diversification than from continued U.S. concentration. Rami Cassis, founder of London's Parabellum Investments, told CNBC by phone that he was seeing a shift in attitude toward investing in the U.S. — but that this went deeper than simply seeking out the biggest returns. "I'm seeing a lot of, not quite animosity, but I can't think of a better word for it," he explained. "I think it's quite specific to the current administration. I think the capital flows out of the U.S. are driven by the apparent unpredictability of the current administration, [but] I think it's supported by ideology." Tariffs, Trump's approach to the war in Ukraine war , perceptions around the administration's stance on LGBT rights and other controversial policies were influencing some people's decisions about putting money in America, Cassis told CNBC. "It's become quite emotive," he added. "Nobody wants to invest in an environment where the government might change its mind overnight. [And] what would ordinarily be a purely objective and rational commercial decision, is now being supported by a level of emotion that's been introduced by some of the behaviors and policies that have come out of the current administration." Trump's policies have sparked international consumer boycotts of American products and a fall in global travelers to the United States. David Rosenstrock, director of financial planning and investments at New York-based Wharton Wealth Planning, told CNBC by email that he was seeing demand from clients to allocate their assets beyond the United States. The shift is "partly driven by concerns over market volatility in the U.S., uncertainty regarding trade and other policies, interest rates, and relatively weaker performance compared to global counterparts," he added. Where are the opportunities beyond Wall Street? Rosenstrock said his clients were considering diversifying to markets including Europe, emerging markets, and specific countries such as Japan and India. But he cautioned that the trend could stall or reverse in the future. "U.S. stocks have become more attractive to international investors as the U.S. dollar has weakened," he said. "As a result, for international investors, the cost of purchasing U.S. stocks in their local currency has decreased in some instances by as much as 10%." Parabellum's Cassis told CNBC that, "Europe, for the first time in a long time, might be a proper destination" for investment. European stocks have seen broad gains this year, amid broadly falling inflation , a historic shift on fiscal spending in Germany, and a commitment to ramp up defense spending across the region. The pan-European Stoxx 600 index has gained around 7.7% since the beginning of the year, while the euro has so far gained over 10% against the dollar in 2025. Meanwhile, the European Stoxx Aerospace and Defense index has soared by almost 50% this year, with bullish sentiment rising after the EU pledged to mobilize as much as 800 billion euros to invest in regional security. Chris Clement, senior portfolio manager at BRI Wealth Management, agreed that Europe-based investment alternatives to the U.S. were now looking more attractive. "European and U.K. equity markets trade at significant discounts to the U.S. and are now having the spotlight shone upon them," he said. "Another alternative for safe-haven assets might be the gilt market." Long-dated U.K. government bonds, known as gilts, logged major sell-offs earlier this year, which some traders labeled as a "nice opportunity ." Emerging markets Beyond Europe, the spotlight is back on emerging markets. Parabellum's Cassis noted that, for those considering allocating funds to the region, India looked attractive. "There's been a lot of economic activity and policies around trying to encourage foreign capital," Cassis told CNBC. "I think India is very likely a destination of some of the [diversifying] funds, depending on the investor's risk [tolerance]." The world's fifth-largest economy expanded by a hotter-than-expected 7.4% in the March quarter. Brian Mangwiro, managing director at Barings, also noted the increasing strength of emerging market investments. "We particularly see value in EM debt, sovereigns and corporates, and flows are starting to reflect this view," he said."The asset class also tends to perform well in a weak U.S. dollar environment." Mangwiro echoed the view that demand from the global investment manager's clients has begun to diversify away from the United States. "Within ETFs, flows into the 'Global ex-US' segment picked up post 'Liberation Day', both for equities and fixed income. US flows have flatlined," he said, citing policy uncertainty, an unsustainable fiscal trajectory and fears of significant dollar weakness as driving the moves. However, he emphasized that Barings was not seeing wholesale de-risking from U.S. assets, but a diversification away from positions that were heavily U.S.-leaning over the past five years.
Yahoo
20-05-2025
- Business
- Yahoo
MP Jeffrey Siow being considered for new Cabinet line-up
SINGAPORE - Newly minted Chua Chu Kang GRC MP Jeffrey Siow is among various potential office holders whom Prime Minister Lawrence Wong is considering for the upcoming Cabinet reshuffle following Singapore's recently concluded general election. Speaking to the media on May 17, Mr Siow said: 'PM is readying his Cabinet, he is building his team. I understand he has been speaking to various people in his team who would be taking up positions in the Cabinet. I am one of the people he has spoken to.' The MP for the GRC's Brickland ward did not reveal which political office he is being considered for, saying these matters have yet to be finalised. 'We have to give it a bit of time. It is an important decision for (the) PM to form his team. But in the discussions I have had, I am very happy he knows the experiences and the skills that I have. 'He knows what I can contribute to his team,' Mr Siow said at the sidelines of a sustainability themed event outside Keat Hong Shopping Centre. 'Whatever role that he thinks that I can play in his team, I will be very happy to contribute... I will give it my best,' he added. The PAP fielded 32 new candidates for the 2025 General Election on May 3, the largest batch of fresh faces in decades. PM Wong is expected to announce changes to his Cabinet soon. A veteran civil servant, Mr Siow retired as second permanent secretary for trade and industry and manpower before entering politics. He was also principal private secretary to then Prime Minister Lee Hsien Loong between 2017 and 2021. After 2021, he became the first managing director of Enterprise Singapore. He has also held key government roles in the Transport and Education ministries. With 24 years in the public service, Mr Siow is the most senior civil servant to run in the election in 2025. During the 2025 General Election, PM Wong had highlighted how some of the PAP newcomers could grow into larger leadership roles, and name-dropped Mr Siow alongside other first-time MPs such as Mr David Neo from Tampines GRC and Mr Dinesh Vasu Dash from East Coast GRC. At the 2025 Brickland Green Festival on May 17, Mr Siow was accompanied by other MPs in the group representation constituency, including Mr Zhulkarnain Abdul Rahim (Keat Hong) and Manpower Minister Tan See Leng (Chua Chu Kang). Chua Chu Kang GRC, which has more than 93,000 voters, saw some significant boundary changes in GE2025. The new Tengah estates have been folded into the constituency, and Bukit Gombak, overseen by Ms Low Yen Ling, was carved out as a single-member constituency. Ms Low was the previous chairman for Chua Chu Kang Town Council. The new leadership and chairman of the town council are yet to be revealed, and Mr Siow said this is being sorted out. Mr Siow added that with Tengah's growing population, Chua Chu Kang would have about 150,000 voters in the next four to five years. 'There is a lot of work to be done in terms of preparing how we will cover the residents... and provide the same level of service as we are now doing. We are looking at the (GRC) boundaries and what the future make-up of the GRC is going to be like.' At the 2025 Brickland Green Festival on May 17, a new Brickland Green Village initiative was launched to redistribute bruised fruits and vegetables that are commonly ignored by shoppers. The initiative will also run upcycling workshops as well as a repair corner where residents can learn to fix faulty household items. At the event, UOB and the SG Eco Fund also launched a two-year partnership to drive greater environmental awareness in the community, including painting environment-themed murals islandwide. SG Eco Fund is a $50 million push under the Ministry of Sustainability and the Environment that supports green initiatives in the community. Mr Siow is known among the green groups for being consultative. When he was at the Ministry of Transport over a decade ago, he was the point man for engagements with nature groups after a proposal for the Cross Island MRT line to cut through the Central Catchment Nature Reserve sparked outrage. Since then, such engagements between the nature community and government agencies have become more frequent. 'Being involved in the Cross Island Line discussions with the nature groups really taught me a lot about the importance of the environment,' he said. When he was principal private secretary to then PM Lee, Mr Siow was involved in planning the former PM's 2019 National Day Rally speech. It was the year that then PM Lee announced that Singapore would spend $100 billion over the next 100 years to protect itself against rising sea levels. 'We debated whether we should talk about climate change,' said Mr Siow, noting that it was the topic's debut in a rally speech. But the then PM Lee held the view that tackling climate change needs to be a national agenda. For the sake of his two children, Mr Siow is supportive. 'Ensuring that we are able to manage changes in the environment and do them well is very important on my personal agenda.' Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
New Paper
17-05-2025
- Business
- New Paper
MP Jeffrey Siow being considered for new Cabinet line-up
Newly minted Chua Chu Kang GRC MP Jeffrey Siow is among various potential office holders whom Prime Minister Lawrence Wong is considering for the upcoming Cabinet reshuffle following Singapore's recently concluded general election. Speaking to the media on May 17, Mr Siow said: "PM is readying his Cabinet, he is building his team. I understand he has been speaking to various people in his team who would be taking up positions in the Cabinet. I am one of the people he has spoken to." The MP for the GRC's Brickland ward did not reveal which political office he is being considered for, saying these matters have yet to be finalised. "We have to give it a bit of time. It is an important decision for (the) PM to form his team. But in the discussions I have had, I am very happy he knows the experiences and the skills that I have. "He knows what I can contribute to his team," Mr Siow said at the sidelines of a sustainability themed event outside Keat Hong Shopping Centre. "Whatever role that he thinks that I can play in his team, I will be very happy to contribute... I will give it my best," he added. The PAP fielded 32 new candidates for the 2025 General Election on May 3, the largest batch of fresh faces in decades. PM Wong is expected to announce changes to his Cabinet soon. A veteran civil servant, Mr Siow retired as second permanent secretary for trade and industry and manpower before entering politics. He was also principal private secretary to then Prime Minister Lee Hsien Loong between 2017 and 2021. After 2021, he became the first managing director of Enterprise Singapore. He has also held key government roles in the Transport and Education ministries. With 24 years in the public service, Mr Siow is the most senior civil servant to run in the election in 2025. During the 2025 General Election, PM Wong had highlighted how some of the PAP newcomers could grow into larger leadership roles, and name-dropped Mr Siow alongside other first-time MPs such as Mr David Neo from Tampines GRC and Mr Dinesh Vasu Dash from East Coast GRC. At the 2025 Brickland Green Festival on May 17, Mr Siow was accompanied by other MPs in the group representation constituency, including Mr Zhulkarnain Abdul Rahim (Keat Hong) and Manpower Minister Tan See Leng (Chua Chu Kang). Chua Chu Kang GRC, which has more than 93,000 voters, saw some significant boundary changes in GE2025. The new Tengah estates have been folded into the constituency, and Bukit Gombak, overseen by Ms Low Yen Ling, was carved out as a single-member constituency. Ms Low was the previous chairman for Chua Chu Kang Town Council. The new leadership and chairman of the town council are yet to be revealed, and Mr Siow said this is being sorted out. Mr Siow added that with Tengah's growing population, Chua Chu Kang would have about 150,000 voters in the next four to five years. "There is a lot of work to be done in terms of preparing how we will cover the residents... and provide the same level of service as we are now doing. We are looking at the (GRC) boundaries and what the future make-up of the GRC is going to be like." Mr Jeffrey Siow (second from left), Manpower Minister Tan See Leng (second from right) and Mr Zhulkarnain Abdul Rahim (right) watching a performance at Brickland Green Festival 2025 on May 17. ST PHOTO: NG SOR LUAN At the 2025 Brickland Green Festival on May 17, a new Brickland Green Village initiative was launched to redistribute bruised fruits and vegetables that are commonly ignored by shoppers. The initiative will also run upcycling workshops as well as a repair corner where residents can learn to fix faulty household items. At the event, UOB and the SG Eco Fund also launched a two-year partnership to drive greater environmental awareness in the community, including painting environment-themed murals islandwide. SG Eco Fund is a $50 million push under the Ministry of Sustainability and the Environment that supports green initiatives in the community. Mr Siow is known among the green groups for being consultative. When he was at the Ministry of Transport over a decade ago, he was the point man for engagements with nature groups after a proposal for the Cross Island MRT line to cut through the Central Catchment Nature Reserve sparked outrage. Since then, such engagements between the nature community and government agencies have become more frequent. "Being involved in the Cross Island Line discussions with the nature groups really taught me a lot about the importance of the environment," he said. When he was principal private secretary to then PM Lee, Mr Siow was involved in planning the former PM's 2019 National Day Rally speech. It was the year that then PM Lee announced that Singapore would spend $100 billion over the next 100 years to protect itself against rising sea levels. "We debated whether we should talk about climate change," said Mr Siow, noting that it was the topic's debut in a rally speech. But the then PM Lee held the view that tackling climate change needs to be a national agenda. For the sake of his two children, Mr Siow is supportive. "Ensuring that we are able to manage changes in the environment and do them well is very important on my personal agenda."
Straits Times
17-05-2025
- Business
- Straits Times
MP Jeffrey Siow being considered for new Cabinet line-up
Chua Chu Kang GRC MPs Mr Zhulkarnain Abdul Rahim (left) and Mr Jeffrey Siow (second from right) choosing apples with a resident at Brickland Green Festival 2025 on May 17. ST PHOTO: NG SOR LUAN SINGAPORE - Newly-minted Chua Chu Kang GRC MP Jeffrey Siow is among various potential office holders that Prime Minister Lawrence Wong is considering for the upcoming Cabinet reshuffle following Singapore's recently-concluded general election. Speaking to the media on May 17, Mr Siow said: 'PM is readying his cabinet, he is building his team. I understand he's been speaking to various people in his team who would be taking up positions in the Cabinet. I'm one of the people he has spoken to.' The MP for the GRC's Brickland ward did not reveal which political office he is being considered for, saying these matters have yet to be finalised. 'We have to give it a bit of time. It's an important decision for PM to form his team. But in the discussions I've had, I'm very happy he knows the experiences and the skills that I have. He knows what I can contribute to his team,' said Mr Siow at the sidelines of a sustainability themed event outside Keat Hong Shopping Centre. 'Whatever role that he thinks that I can play in his team, I'll be very happy to contribute...I will give it my best,' he added. The PAP fielded 32 new candidates for the 2025 General Election on May 3, the largest batch of fresh faces in decades. PM Wong is expected to announce changes to his Cabinet soon. A veteran civil servant, Mr Siow, retired as second permanent secretary for trade and industry and manpower before entering politics. He was also principal private secretary to then PM Lee Hsien Loong between 2017 and 2021. After 2021, he became the first managing director of Enterprise Singapore. He has also held key government roles in the Transport and Education Ministries. With 24 years in the public service, Mr Siow is the most senior civil servant to run in the election this year. During the 2025 General Election, PM Lawrence Wong had highlighted how some of the PAP newcomers could grow into larger leadership roles, and name-dropped Mr Siow alongside other first-time MPs like Mr David Neo from Tampines GRC and Mr Dinesh Vasu Dash from East Coast GRC. At the 2025 Brickland Green Festival on May 17, Mr Siow was also accompanied by other MPs in the GRC including Mr Zhulkarnain Abdul Rahim (Keat Hong) and Manpower Minister Tan See Leng (Chua Chu Kang). Mr Jeffrey Siow (second from left), Manpower Minister Tan See Leng (second from right) and Mr Zhulkarnain Abdul Rahim (right) watching a performance at Brickland Green Festival 2025 on May 17. ST PHOTO: NG SOR LUAN The one-day festival allows residents to learn about environmental sustainability through the arts. The community event also saw the launch of a new initiative focused on reducing waste. Community leaders driving the new Brickland Green Village initiative will rescue and redistribute bruised fruits and vegetables that are commonly ignored by shoppers. The initiative will also run upcycling workshops as well as a repair corner where residents can learn to fix faulty household items. At the event, UOB and the SG Eco Fund launched a two-year partnership to drive greater environmental awareness and community engagement on sustainability initiatives across Singapore. A signature component of the partnership is the Green Mosaic Programme, which will involve the community in painting environment-themed murals islandwide. SG Eco Fund is a $50 million push under the Ministry of Sustainability and the Environment that supports green initiatives in the community. Join ST's WhatsApp Channel and get the latest news and must-reads.
