EVEN to the very end, Ms Lo Hwei Yen , the 28-year-old lawyer who was killed in last week's Mumbai terrorist attack, had remained stoically calm.
Breaking his silence yesterday afternoon at her wake at Teresa Ville, her husband, Mr Michael Puhaindran, 37, shared her last words with the media at his first press interview.
Composed, the corporate counsel recounted their conversation.
"In a steady voice she was talking to me, and, reacting to her, I was trying to remain calm as well. Only in her very last sentence did she say, "Please tell them to hurry up."
"That was when I couldn't really take it. I told her I loved her so very much, and she said the same thing. Those were the last words," he said, voice wavering and eyes welling up.
That was their fourth, and last, telephone conversation in seven hours, at about 6am on Thursday.
Agonising hours later, at about 9.35pm, he would identify her body, feet clad in bedroom slippers, on the 19th floor of Mumbai's Oberoi Trident Hotel.
Accompanied by officials from the Ministry of Foreign Affairs (MFA), he was led up the steps of the pitch-black hotel to where Ms Lo's body lay.
"I was able to touch her cheek," he said. "She still looked very beautiful."
Ms Lo, a shipping-finance associate with offshore firm Stephenson Harwood, had flown to India's financial capital on Wednesday morning (Indian time) to deliver a talk.
She first called him at about midnight, when she heard gunshots fired outside her hotel. She had just returned to the Oberoi after drinks with clients.
About 15 minutes later, she said she was in a stairwell on the 10th floor, with security and hotel staff, waiting for the police.
The couple did not manage to speak to each other again until after 5am. She called to say that she was being held at gunpoint by "only five terrorists" armed with handguns and grenades.
That was when Mr Puhaindran called MFA for assistance. His wife, a self-confessed "crackberry addict" - chuckling as he described her so - had sent an e-mail message via BlackBerry to three of her close friends at 6.36am, telling them of the hostage situation.
He said: "She ended off by saying, 'If I don't make it out of here, I love you all'."
Ms Lo was shot in the head and abdomen.
Fighting back sobs, Mr Puhaindran said he took solace in "how she was strong, right up to the point she was killed."
"There's really no need to know any more. It was quick and sudden and...probably painless," he said. "And that will be enough for people to know."
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Saturday, December 6, 2008
New Swiss style Banking for Singapore?
SINGAPORE may face political pressure from the United States over its role as a financial centre for rich foreigners, the country's prime minister said on Friday.
Prime Minister Lee Hsien Loong told journalists at a lunch hosted by Singapore's Foreign Correspondents Association that US pressure on some European countries to lighten banking secrecy laws and open their books to greater scrutiny may lead to more European money flowing into Singapore in the short term.
'But I expect Singapore to come under pressure too,' he said in response to a question on whether pressure on countries like Switzerland and Liechtenstein will help Singapore.
Singapore's government has previously denied suggestions that the country is a tax haven. It has strict bank secrecy laws and has been promoting itself as a rival financial centre to Hong Kong to attract banks such as UBS, Credit Suisse and Citigroup to manage money for rich local and foreign clients
Prime Minister Lee Hsien Loong told journalists at a lunch hosted by Singapore's Foreign Correspondents Association that US pressure on some European countries to lighten banking secrecy laws and open their books to greater scrutiny may lead to more European money flowing into Singapore in the short term.
'But I expect Singapore to come under pressure too,' he said in response to a question on whether pressure on countries like Switzerland and Liechtenstein will help Singapore.
Singapore's government has previously denied suggestions that the country is a tax haven. It has strict bank secrecy laws and has been promoting itself as a rival financial centre to Hong Kong to attract banks such as UBS, Credit Suisse and Citigroup to manage money for rich local and foreign clients
Wednesday, December 3, 2008
Qantas, BA merger talks ?
Qantas will remain a majority-owned Australian airline even if it merges with British Airways to create a global carrier to better cope with challenging market conditions, the Australian government said Wednesday.
The chief executives of the two iconic airlines have been in merger talks since August as they battle volatile fuel prices and shrinking passenger demand as the world economy creeps into recession.
Qantas Airways confirmed in a statement Wednesday it was "exploring a potential merger with British Airways plc via a dual-listed company structure" but said that there was no guarantee a transaction would be forthcoming.
But the airline has acknowledged that the industry was heading towards a period of consolidation and as recently as last week said that it would be in Qantas' interests to merge with a rival sooner rather than later.
Australian Treasurer Wayne Swan said there was no proposal yet before the government but any merger would have to abide by the regulation that foreign ownership of Qantas be limited to 49 percent.
But the government has hinted it will alter other foreign ownership rules, which currently limit individual foreign airlines to a 25 percent holding and aggregate foreign airline interests to a 35 percent stake.
Under current law Qantas' base must remain in Australia, it must retain its name and be incorporated in Australia, and its chairman and at least two-thirds of its board must be Aussie citizens.
"To think that the 'flying kangaroo' would disappear is a bit like thinking that the Sydney Opera House would be bulldozed," he said.
Talk of a merger between Qantas and BA, which formerly held a 25 percent stake in the Australian carrier but had sold out by 2004 to pay off debts, comes amid moves towards consolidation of the sector in Europe and the US.
BA is continuing in talks to link up with Iberia while reports here said Qantas could be included in a "three-way" deal with the Spanish carrier.
A spokesman said Qantas' rivals, including Singapore Airlines, would be unhappy with the news, but a merger with BA made the most sense.
"Qantas has got a choice, it either gets into bed with somebody like BA or (German carrier) Lufthansa or it retreats to being an Asian carrier with a couple of routes to Europe," he told AFP.
"It will allow Qantas to stay servicing Europe meaningfully and it makes it (in combination with BA) about the third biggest fleet in the world."
Qantas shares gained on the news of the merger talks, closing up 10 cents, or 4.4 percent, at 2.35 dollars in an overall flat Australian market.
But some traders said Qantas, one of the world's most profitable airlines, would be unwise to link itself to a carrier with a less robust bottom line.
"Qantas has low debt, a protected US-Australia route and an oligopoly on one of the most profitable short-haul legs in the world between Melbourne and Sydney," a spokesman said.
"If I am a shareholder of Qantas, my initial response is cold feet, as the potential groom has a good name but his short-term financial prospects look challenged," he told the media.
Last year an 11.1 billion dollar (4.8 billion pound) private equity bid for Qantas, which was supported by the airline's board, crashed after the Macquarie Bank-led consortium did not reach a minimum 50 percent of shareholder acceptances for its proposal.
The chief executives of the two iconic airlines have been in merger talks since August as they battle volatile fuel prices and shrinking passenger demand as the world economy creeps into recession.
Qantas Airways confirmed in a statement Wednesday it was "exploring a potential merger with British Airways plc via a dual-listed company structure" but said that there was no guarantee a transaction would be forthcoming.
But the airline has acknowledged that the industry was heading towards a period of consolidation and as recently as last week said that it would be in Qantas' interests to merge with a rival sooner rather than later.
Australian Treasurer Wayne Swan said there was no proposal yet before the government but any merger would have to abide by the regulation that foreign ownership of Qantas be limited to 49 percent.
But the government has hinted it will alter other foreign ownership rules, which currently limit individual foreign airlines to a 25 percent holding and aggregate foreign airline interests to a 35 percent stake.
Under current law Qantas' base must remain in Australia, it must retain its name and be incorporated in Australia, and its chairman and at least two-thirds of its board must be Aussie citizens.
"To think that the 'flying kangaroo' would disappear is a bit like thinking that the Sydney Opera House would be bulldozed," he said.
Talk of a merger between Qantas and BA, which formerly held a 25 percent stake in the Australian carrier but had sold out by 2004 to pay off debts, comes amid moves towards consolidation of the sector in Europe and the US.
BA is continuing in talks to link up with Iberia while reports here said Qantas could be included in a "three-way" deal with the Spanish carrier.
A spokesman said Qantas' rivals, including Singapore Airlines, would be unhappy with the news, but a merger with BA made the most sense.
"Qantas has got a choice, it either gets into bed with somebody like BA or (German carrier) Lufthansa or it retreats to being an Asian carrier with a couple of routes to Europe," he told AFP.
"It will allow Qantas to stay servicing Europe meaningfully and it makes it (in combination with BA) about the third biggest fleet in the world."
Qantas shares gained on the news of the merger talks, closing up 10 cents, or 4.4 percent, at 2.35 dollars in an overall flat Australian market.
But some traders said Qantas, one of the world's most profitable airlines, would be unwise to link itself to a carrier with a less robust bottom line.
"Qantas has low debt, a protected US-Australia route and an oligopoly on one of the most profitable short-haul legs in the world between Melbourne and Sydney," a spokesman said.
"If I am a shareholder of Qantas, my initial response is cold feet, as the potential groom has a good name but his short-term financial prospects look challenged," he told the media.
Last year an 11.1 billion dollar (4.8 billion pound) private equity bid for Qantas, which was supported by the airline's board, crashed after the Macquarie Bank-led consortium did not reach a minimum 50 percent of shareholder acceptances for its proposal.
Monday, December 1, 2008
Buy Car now with $2 COE
Drawn by lower car prices and certificate of entitlement (COE) rates at record-low levels, potential buyers have been flooding showrooms to check out their dream set of wheels.
The buying frenzy was ignited on Nov 19, when the COE premium for cars with engine size up to 1,600cc crashed to $2, a level never seen before.
Said Ms Helen Neo, head of consumer banking at Maybank Singapore: "With the Category A (below 1,600cc) COE at a record low of $2, new cars are currently priced at attractive levels.
"Furthermore, with the sharp plunge in petrol prices to a 20-month low, it is definitively a good time to consider buying a car."
How does a lower COE contribute to savings for the buyer?
The fall in COE to $2 from $10,455 early this month has led many car dealers to cut car prices by between $3,000 and $6,000 for the smaller-car segment.
For instance, car dealer Borneo Motors has cut prices by up to $6,000, bringing its cheapest model, the Toyota Vios, to below $44,000.
Honda agent Kah Motor has cut the Civic's price by $2,700 to $72,500.
Motor Traders Association (MTA) president Tan Kheng Hwee said that car prices are lower today than at any other time in the last 10 years.
This can translate to lower monthly instalments too.
Ms Neo said that lower car prices mean that any loan taken is likely to be smaller too. Hence, the cost of financing would be correspondingly lower.
She gave this example: Let us say the car price was lowered by $5,000.
Assuming a corresponding reduction in loan amount by $5,000, this would translate into monthly savings of about $70 for a seven-year loan.
Besides the lower cost of financing, Ms Tan said that another reason to own a new car is that today's cars have improved features.
"Dollar for dollar, buyers today are also getting a superior product in terms of features and quality."
For example, a new Honda Civic offers more space, better performance and higher horsepower, plus improved fuel economy compared to the last-generation Civic model, she added.
"And it costs less to buy today. It's a good deal."
Still, you cannot ignore how the world is facing a prolonged financial downturn and the looming threat of more job cuts.
To add to the gloomy outlook, anecdotal evidence points to an emerging trend of bankruptcy arising from defaulting on car loans. Recent statistics also suggest a rising trend of cars being repossessed here because of loan defaults.
So, before you go ahead and book a car, consider these first:
1. Positive cash flow
Given the current economic conditions, Mr Tony Ong, director at IPP Financial Advisers, cautions potential car buyers to ensure that they have a positive cash flow for at least one to two years first.
This means an adequate cash flow to cater for living and household expenses and the servicing of the car loan.
Mr Leong Chin Huah, a senior consultant at wealth management firm Providend, said that as a guide, the total amount of your gross income that goes towards servicing all loans, and not just the car loan, should be capped at below 35 per cent. Avoid having to dip into your emergency funds.
2. Costs of owning a car
Mr Leong said consumers should consider other costs on top of the purchase price of the car.
These include the car loan (if you take up a loan), regular maintenance costs, fuel charges, road tax, insurance premium, Electronic Road Pricing (ERP) charges and parking fees.
He noted that while car taxes were reduced by about 15 per cent recently, there are also more ERP gantries being erected.
3. Needs versus wants
Ask yourself if you really need a car or is it just to pander to your desires. After all, it is a big-ticket item.
Ms Tan of the MTA said you should consider if you and your family are going to need a car for the next five to 10 years.
"If so, then this is a good time to buy when prices are at a historical low," she said.
"Consider also that the COE quota will definitely be cut come April next year, so all other things being equal, car prices should trend up from here."
4. Determining the type and size of car
IPP's Mr Ong suggests using your budget and potential usage of the car to help determine the type and size of car you should get.
5. Buying from an established firm
In these times, it is important to buy from an established company, be it cars or any big-ticket item, said Ms Tan. This is because you want to be sure that your deposit or down payment is safe.
In particular for cars, you want to be sure that the distributor that sold you the car will be around to deliver on promises on repair and warranty services down the road.
6. Should you choose the highest car loan available?
The advice from most financial experts is buyers should fork out a higher down payment if they can afford to, so as to reduce the amount of interest they have to pay.
This means that even if you can get a car loan of up to 100 per cent of the purchase price, do not go for it.
7. Find out the 'effective' loan interest rate
While it might make sense to take up a car loan, experts point out that many buyers are not aware that the "effective" or real interest rate of a car loan works out to be higher than the published loan interest rate.
For example, a loan amount of $40,000 over seven years at a 2.5 per cent interest rate attracts an effective rate of about 4.8 per cent per annum.
This is because interest is payable on the original principal and not on a reducing principal, Mr Leong of Providend pointed out.
8. Check around for suitable loan packages
Loan packages vary, so buyers should take their time to suss out good deals.
The current economic climate has led to slower car sales, so car distributors are hungry for customers.
Market observers noted that current loan packages are about 3.35 per cent for a one- to six-year loan package and 3.5 per cent for a seven- to 10-year loan package.
At some car distributors, cash rebates are being offered when you take up a loan.
For instance, Malayan Motors, which distributes Jaguars and Bentleys, offers a cash rebate of 8 per cent of the loan. This means that for a $100,000 car loan, you will get $8,000 in cash.
At Kah Motor, the cash rebate is based on 30 per cent of the total loan interest. This works out to a $5,000 cash rebate for a $70,000 loan with a seven-year tenure.
However, consumers who wish to enjoy cash rebates should be aware that they have to refund the entire rebate if they wish to redeem their loans fully within the first two years. Loan interest rates for packages tied with cash rebates are also higher.
At Malayan Motors and Kah Motor, the cash rebate package comes with a higher 3.5 per cent per annum interest rate and a longer loan tenure of seven years and above.
On the other hand, those who do not wish to take the offer of a cash rebate can enjoy a lower interest rate of 2.28 per cent per annum at Malayan Motors and 2.2 per cent per annum at Kah Motor.
The latter offers 100 per cent financing, while Malayan Motors offers financing for up to 95 per cent of the cost of the car, subject to the bank's approval.
The bottom line: The choice of a suitable loan package depends on what you are comfortable paying each month.
9. What if you are an existing car owner - should you sell your car to get a new one?
Ms Tan said you should compare the depreciation of your current car and the terms of your current car loan to those of the new car you are considering.
Check the amount of outstanding loan payable, the resale price of your car and do your sums.
Do note that new cars are also under warranty and maintenance costs tend to be lower.
In addition, Ms Neo suggested checking your existing car's COE and scrap rebate. The latter is also known as the Preferential Additional Registration Fee (Parf) rebate and it is the sum your existing car can fetch when it is de-registered.
"If the existing car has high COE and Parf rebates, which will translate into higher resale value of the car, it may be worthwhile to consider selling it off and switching to a new car," she said.
You can check your rebates at the Land Transport Authority (LTA) website, www.onemotoring.com.sg by clicking on "LTA e-Services", then "online enquiries" and then "Parf/COE rebate" and keying in the required information.
A higher resale value means you have more to channel towards the down payment of the new car. Another factor to consider is the higher running cost of your existing car - due to lower petrol efficiency, higher servicing or maintenance costs and higher parts replacement costs due to wear and tear - compared to that of a new car.
However, it is generally not worthwhile switching to a new car if the existing car is less than a year old. As it is still very new, it would normally be within the warranty period of three years and running and maintenance costs will generally not be high. You won't enjoy much savings by switching.
10. Find out your new car's potential COE rebate
Singapore Vehicle Traders Association president Neo Nam Heng said consumers should be aware that if their new cars came with a $2 COE, the refund on the COE five years down the road will only be half that, or $1.
This applies even if the dealer has sold you a car that comes with an Open Category COE - which can be used for any vehicle type - of about $6,000.
This is because the LTA will base the rebate on the $2 COE, which is the lower of the two premiums.
"It is better to wait for the next COE bidding and bid for the actual Category A, so there will be no confusion leading to any potential disputes with your dealers," he advised.
Don't get caught out
You cannot ignore how the world is facing a prolonged financial downturn and the looming threat of more job cuts. To add to the gloomy outlook, anecdotal evidence points to an emerging trend of bankruptcy arising from defaulting on car loans. Recent statistics also suggest a rising trend of cars being repossessed here because of loan defaults.
The buying frenzy was ignited on Nov 19, when the COE premium for cars with engine size up to 1,600cc crashed to $2, a level never seen before.
Said Ms Helen Neo, head of consumer banking at Maybank Singapore: "With the Category A (below 1,600cc) COE at a record low of $2, new cars are currently priced at attractive levels.
"Furthermore, with the sharp plunge in petrol prices to a 20-month low, it is definitively a good time to consider buying a car."
How does a lower COE contribute to savings for the buyer?
The fall in COE to $2 from $10,455 early this month has led many car dealers to cut car prices by between $3,000 and $6,000 for the smaller-car segment.
For instance, car dealer Borneo Motors has cut prices by up to $6,000, bringing its cheapest model, the Toyota Vios, to below $44,000.
Honda agent Kah Motor has cut the Civic's price by $2,700 to $72,500.
Motor Traders Association (MTA) president Tan Kheng Hwee said that car prices are lower today than at any other time in the last 10 years.
This can translate to lower monthly instalments too.
Ms Neo said that lower car prices mean that any loan taken is likely to be smaller too. Hence, the cost of financing would be correspondingly lower.
She gave this example: Let us say the car price was lowered by $5,000.
Assuming a corresponding reduction in loan amount by $5,000, this would translate into monthly savings of about $70 for a seven-year loan.
Besides the lower cost of financing, Ms Tan said that another reason to own a new car is that today's cars have improved features.
"Dollar for dollar, buyers today are also getting a superior product in terms of features and quality."
For example, a new Honda Civic offers more space, better performance and higher horsepower, plus improved fuel economy compared to the last-generation Civic model, she added.
"And it costs less to buy today. It's a good deal."
Still, you cannot ignore how the world is facing a prolonged financial downturn and the looming threat of more job cuts.
To add to the gloomy outlook, anecdotal evidence points to an emerging trend of bankruptcy arising from defaulting on car loans. Recent statistics also suggest a rising trend of cars being repossessed here because of loan defaults.
So, before you go ahead and book a car, consider these first:
1. Positive cash flow
Given the current economic conditions, Mr Tony Ong, director at IPP Financial Advisers, cautions potential car buyers to ensure that they have a positive cash flow for at least one to two years first.
This means an adequate cash flow to cater for living and household expenses and the servicing of the car loan.
Mr Leong Chin Huah, a senior consultant at wealth management firm Providend, said that as a guide, the total amount of your gross income that goes towards servicing all loans, and not just the car loan, should be capped at below 35 per cent. Avoid having to dip into your emergency funds.
2. Costs of owning a car
Mr Leong said consumers should consider other costs on top of the purchase price of the car.
These include the car loan (if you take up a loan), regular maintenance costs, fuel charges, road tax, insurance premium, Electronic Road Pricing (ERP) charges and parking fees.
He noted that while car taxes were reduced by about 15 per cent recently, there are also more ERP gantries being erected.
3. Needs versus wants
Ask yourself if you really need a car or is it just to pander to your desires. After all, it is a big-ticket item.
Ms Tan of the MTA said you should consider if you and your family are going to need a car for the next five to 10 years.
"If so, then this is a good time to buy when prices are at a historical low," she said.
"Consider also that the COE quota will definitely be cut come April next year, so all other things being equal, car prices should trend up from here."
4. Determining the type and size of car
IPP's Mr Ong suggests using your budget and potential usage of the car to help determine the type and size of car you should get.
5. Buying from an established firm
In these times, it is important to buy from an established company, be it cars or any big-ticket item, said Ms Tan. This is because you want to be sure that your deposit or down payment is safe.
In particular for cars, you want to be sure that the distributor that sold you the car will be around to deliver on promises on repair and warranty services down the road.
6. Should you choose the highest car loan available?
The advice from most financial experts is buyers should fork out a higher down payment if they can afford to, so as to reduce the amount of interest they have to pay.
This means that even if you can get a car loan of up to 100 per cent of the purchase price, do not go for it.
7. Find out the 'effective' loan interest rate
While it might make sense to take up a car loan, experts point out that many buyers are not aware that the "effective" or real interest rate of a car loan works out to be higher than the published loan interest rate.
For example, a loan amount of $40,000 over seven years at a 2.5 per cent interest rate attracts an effective rate of about 4.8 per cent per annum.
This is because interest is payable on the original principal and not on a reducing principal, Mr Leong of Providend pointed out.
8. Check around for suitable loan packages
Loan packages vary, so buyers should take their time to suss out good deals.
The current economic climate has led to slower car sales, so car distributors are hungry for customers.
Market observers noted that current loan packages are about 3.35 per cent for a one- to six-year loan package and 3.5 per cent for a seven- to 10-year loan package.
At some car distributors, cash rebates are being offered when you take up a loan.
For instance, Malayan Motors, which distributes Jaguars and Bentleys, offers a cash rebate of 8 per cent of the loan. This means that for a $100,000 car loan, you will get $8,000 in cash.
At Kah Motor, the cash rebate is based on 30 per cent of the total loan interest. This works out to a $5,000 cash rebate for a $70,000 loan with a seven-year tenure.
However, consumers who wish to enjoy cash rebates should be aware that they have to refund the entire rebate if they wish to redeem their loans fully within the first two years. Loan interest rates for packages tied with cash rebates are also higher.
At Malayan Motors and Kah Motor, the cash rebate package comes with a higher 3.5 per cent per annum interest rate and a longer loan tenure of seven years and above.
On the other hand, those who do not wish to take the offer of a cash rebate can enjoy a lower interest rate of 2.28 per cent per annum at Malayan Motors and 2.2 per cent per annum at Kah Motor.
The latter offers 100 per cent financing, while Malayan Motors offers financing for up to 95 per cent of the cost of the car, subject to the bank's approval.
The bottom line: The choice of a suitable loan package depends on what you are comfortable paying each month.
9. What if you are an existing car owner - should you sell your car to get a new one?
Ms Tan said you should compare the depreciation of your current car and the terms of your current car loan to those of the new car you are considering.
Check the amount of outstanding loan payable, the resale price of your car and do your sums.
Do note that new cars are also under warranty and maintenance costs tend to be lower.
In addition, Ms Neo suggested checking your existing car's COE and scrap rebate. The latter is also known as the Preferential Additional Registration Fee (Parf) rebate and it is the sum your existing car can fetch when it is de-registered.
"If the existing car has high COE and Parf rebates, which will translate into higher resale value of the car, it may be worthwhile to consider selling it off and switching to a new car," she said.
You can check your rebates at the Land Transport Authority (LTA) website, www.onemotoring.com.sg by clicking on "LTA e-Services", then "online enquiries" and then "Parf/COE rebate" and keying in the required information.
A higher resale value means you have more to channel towards the down payment of the new car. Another factor to consider is the higher running cost of your existing car - due to lower petrol efficiency, higher servicing or maintenance costs and higher parts replacement costs due to wear and tear - compared to that of a new car.
However, it is generally not worthwhile switching to a new car if the existing car is less than a year old. As it is still very new, it would normally be within the warranty period of three years and running and maintenance costs will generally not be high. You won't enjoy much savings by switching.
10. Find out your new car's potential COE rebate
Singapore Vehicle Traders Association president Neo Nam Heng said consumers should be aware that if their new cars came with a $2 COE, the refund on the COE five years down the road will only be half that, or $1.
This applies even if the dealer has sold you a car that comes with an Open Category COE - which can be used for any vehicle type - of about $6,000.
This is because the LTA will base the rebate on the $2 COE, which is the lower of the two premiums.
"It is better to wait for the next COE bidding and bid for the actual Category A, so there will be no confusion leading to any potential disputes with your dealers," he advised.
Don't get caught out
You cannot ignore how the world is facing a prolonged financial downturn and the looming threat of more job cuts. To add to the gloomy outlook, anecdotal evidence points to an emerging trend of bankruptcy arising from defaulting on car loans. Recent statistics also suggest a rising trend of cars being repossessed here because of loan defaults.
Friday, November 14, 2008
Singapore Lass beats students worldwide
MISS Carrie Chua, 20,never really been a top student, tops the University of London's first year Economics and Mathematics papers.
But that changed when she began pursuing economics from the University of London (UOL) at SIM Global Education (GE).
The second-year SIM GE student is passionate about the subject and is motivated to make the most of her studies.
She said: 'I like thinking about economics. I like understanding what my lecturers are saying, and I like answering the questions.'
As such, Miss Chua had not only graduated with a Diploma in Economics with distinction, she is currently also among the top in her University of London Bachelor of Science (Honours) in Economics and Finance programme.
Her 94 per cent score for the 'Introduction to Economics' module this year, placed her ahead of all UOL students in the world.
She even scored 100 marks for one Mathematics module.
The former Anderson Secondary and Catholic Junior College student said: 'Before, I didn't really study much. I wasn't really motivated.'
Still, she found a 'strange affinity' to economics for which she scored a B grade in her A levels.
And she was determined to pursue the subject at university.
So, she joined SIM, where she pursued a diploma that will advance her into the university programme's second year.
While her parents are paying her course fees, she is giving tuition to primary and secondary school children, to earn her own allowance.
She describe the current situation as a Life-changing experience and here whole life revolving around economics from now on.Especially the current subprime crisis that knocks around all over the world.
The straight-talking girl said: 'To make it worthwhile, I told myself that I'm not going to waste this opportunity will go all out to make a mark not a dent in her studies.
One of Miss Chua's lecturers is Mr Seet Min Kok, who has taught at SIM for over 10 ears. He was a former government scholar and an Oxford graduate,joined SIM after about 10 years in the civil service and answer an 'inner calling' to teach and help students grow and develop.
'Seeing that I've added value to the development and growth of the students is what gives me the greatest satisfaction,' especially world beating records like Miss Chua above.
Mr Seet said that most of the SIM-UOL lecturers have varied industry experiences like consultancy firms, banks and the civil service.
Top lecturers will fly in to conduct revision workshops so that students are able to reinforce key concepts and focus on their weaker areas before their exams.
Mr Seet noted that in recent years, the number of graduates who have attained First Class honours has increased in Sim, 66 such graduates this year, up from 51.
Both these figures are the highest in the world, compared with other international institutions providing UOL programmes.
In the 22 years of SIM has run UOL programmes, it boasts 254 First Class honours.
One, Mr Terence Ong, 25, graduated from his banking and finance degree programme this year was also taught by Mr Seet, whom he referenced as dedicated and helpful.
Now working in the global reference data department of international investment bank Barclays Capital Services,never in a retrenching type.He said: 'The syllabus of the programme was very relevant,constantly updating us, using the current financial landscape,making understand a breeze.
The working environment helped me to relate to my work much easier.
Mr Ong, a leader in his school's dragonboat team and a member of the national team, said: 'SIM was the No 1 choice for me as I wanted not only to gain a and aclaimed and recognised Bachelor's degree, but at the same time, also to have a holistic undergraduate experience ,like the dragon boat rowing down Singapore and Marina Barrage in future.
'The vibrancy of SIM's campus, coupled with the numerous activities I was involved in, made my three-year tenure at SIM a very enjoyable one.'
But that changed when she began pursuing economics from the University of London (UOL) at SIM Global Education (GE).
The second-year SIM GE student is passionate about the subject and is motivated to make the most of her studies.
She said: 'I like thinking about economics. I like understanding what my lecturers are saying, and I like answering the questions.'
As such, Miss Chua had not only graduated with a Diploma in Economics with distinction, she is currently also among the top in her University of London Bachelor of Science (Honours) in Economics and Finance programme.
Her 94 per cent score for the 'Introduction to Economics' module this year, placed her ahead of all UOL students in the world.
She even scored 100 marks for one Mathematics module.
The former Anderson Secondary and Catholic Junior College student said: 'Before, I didn't really study much. I wasn't really motivated.'
Still, she found a 'strange affinity' to economics for which she scored a B grade in her A levels.
And she was determined to pursue the subject at university.
So, she joined SIM, where she pursued a diploma that will advance her into the university programme's second year.
While her parents are paying her course fees, she is giving tuition to primary and secondary school children, to earn her own allowance.
She describe the current situation as a Life-changing experience and here whole life revolving around economics from now on.Especially the current subprime crisis that knocks around all over the world.
The straight-talking girl said: 'To make it worthwhile, I told myself that I'm not going to waste this opportunity will go all out to make a mark not a dent in her studies.
One of Miss Chua's lecturers is Mr Seet Min Kok, who has taught at SIM for over 10 ears. He was a former government scholar and an Oxford graduate,joined SIM after about 10 years in the civil service and answer an 'inner calling' to teach and help students grow and develop.
'Seeing that I've added value to the development and growth of the students is what gives me the greatest satisfaction,' especially world beating records like Miss Chua above.
Mr Seet said that most of the SIM-UOL lecturers have varied industry experiences like consultancy firms, banks and the civil service.
Top lecturers will fly in to conduct revision workshops so that students are able to reinforce key concepts and focus on their weaker areas before their exams.
Mr Seet noted that in recent years, the number of graduates who have attained First Class honours has increased in Sim, 66 such graduates this year, up from 51.
Both these figures are the highest in the world, compared with other international institutions providing UOL programmes.
In the 22 years of SIM has run UOL programmes, it boasts 254 First Class honours.
One, Mr Terence Ong, 25, graduated from his banking and finance degree programme this year was also taught by Mr Seet, whom he referenced as dedicated and helpful.
Now working in the global reference data department of international investment bank Barclays Capital Services,never in a retrenching type.He said: 'The syllabus of the programme was very relevant,constantly updating us, using the current financial landscape,making understand a breeze.
The working environment helped me to relate to my work much easier.
Mr Ong, a leader in his school's dragonboat team and a member of the national team, said: 'SIM was the No 1 choice for me as I wanted not only to gain a and aclaimed and recognised Bachelor's degree, but at the same time, also to have a holistic undergraduate experience ,like the dragon boat rowing down Singapore and Marina Barrage in future.
'The vibrancy of SIM's campus, coupled with the numerous activities I was involved in, made my three-year tenure at SIM a very enjoyable one.'
Saturday, October 25, 2008
INFLATIONS,OIL CAUSE LIFESTYLES. CHANGE!
gantries,payment gantries, with square electronic whatis have been seen sprouting all over Sincity. Believe to be built by aliens to control motorists, is seems to be wicketly working well. Drivers have been known to suddenly stopped and insert flattened version of thin cigarettes packets into the right side of th car. If nothing is done, the monsters like square boxes will sent electronic signals challenging the car to go one stop further.Resistance if futile.Punishment is the cost of 2 packs cigarettes.or four chickens depending on your lifestyle,by the LTA.Further,the inflation dragons have been seen flying into Sincity, further crimping the quality of living. Either the plate have grown bigger or the cash registers seems to be faulty, demanding more $ from wallets,pockets.Ask for explanation, the cashier says, the petrol prices have increase across the causeway, the cause of the high price. The noodles ,some says recyle needs to be id before payments, before it is ladle onto the plate, no longer oodles ,but much less .Many fear it will become just node,the singular of noodle.Further tales have been hear of downgrading of four wheels to two wheels. The pride is gone, get real.Any further downgrade will be disastrous, imagine to one wheel. Sincity will be full of clownsmoving on monocyle,just like the adds on th tv, floating around on big balls. The nightmare havebegan,what you have dreamt becomes reality.No need reality tv, live evil acts coming your way.
Bonnie and Clyde-Lioncity style-minus Bonnie.
Right after a local cabbie was taxi-jacked by a tipsy fare, another case of Robbery in the High Sea, er local river if it can be named. Another fare hail a cab , stuck out a knife to the cabbie , and demand refund without payment, which is not in order. The Clyde abandoned the first cab and hail another cab. The furious and robbed cabbie then called control to report the fleeing fare in the second cab. All the cabs being GPS and trackable was followed and trapped by the police. A successfull interception. He will be charged in court later. Crime in the Lioncity seems amateur and lower rank than Hollywood version.Yawn another cabbie and fare story.
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