Year 1987
Host Inaugural Youth Olympic Games
Friday, 22nd February 2008
Singapore was declared host of the inaugural Youth Olympic Games (YOG) 2010. In all, 26 sports will be contested. YOG are planned to be an international multi-sport event held every four years in staggered summer and winter events consistent with the current Olympic Games format. Each participating country would send at least four athletes. 170 countries are expected to participate in the 2010 Youth Summer Olympics. (There are over 200 National Olympic Committees, most of which participate at the regular Games).
CPF Interest Rate Pegged
Tuesday, 1st January 2008
The CPF (Central Provident Fund) interest rate for savings in the Special, Medisave and Retirement Accounts (SMRA) has been pegged to the 12-month average yield of the 10-year Singapore Government Security (10YSGS) plus 1%. The average yield of the 10YSGS over one year plus 1% worked out to be about 3.40% a year. To help CPF members adjust to the floating SMRA rate, the Government will maintain the 4% floor rate for two years, from 1 January 2008 to 31 December 2009.
Nokia Singapore GM fined for taking bribes
Tuesday, 6th November 2007
Nokia Singapore's first woman General Manager (GM), Ms. Kitty Fong Kit Sum, was convicted on Tuesday of four charges of corruption and fined a total of $60,000. The 47-year-old unemployed woman was also ordered to pay a penalty of $8,864.48, the amount she took in one of the charges. She was found guilty of corruptly accepting bribes in the form of help from chief executive of Victor Tan of Accord Customer Care Solutions to acquire three company's shares in 2003 and 2004 in return for helping ACCS further its business interest with Nokia.
Caught selling illegal medicine in red-light district
Thursday, 25th October 2007
4 men was caught hawking the illegal sexual enhancement drug Power 1 Walnut pills (also known as Walnut Sex Wonder Pill), which made news early 2007 when the banned drug caused severe reactions in many men, who had to be hospitalised. Their products containing sildenafil - used for treating male erectile dysfunction. Police Officers raided their provision shop at Flanders Square off Petain Road and found assorted medicines displayed on the racks. 18 persons were found either unconscious at home or with severe and life-threatening symptoms of very low blood sugar after taking Power 1 Walnut. There were 47 suspected cases of adverse drug reactions to the same drug.
Honorary Citizen Award on Mr Raymond and Dr Pierer
Thursday, 1st March 2007
Singapore honered Mr Lee R. Raymond (Retired Chairman of Exxon Mobil Corporation, USA) and Dr Heinrich von Pierer (Chairman of the Supervisory Board of Siemens AG, Germany) with the 2006 Honorary Citizen Award for their valuable contributions to Singapore. This is the fourth year Singapore is conferring the Honorary Citizen Award. President S R Nathan conferred the Honorary Citizen Award that was held at the Istana on 1 March 2007.
New NKF V. NKF Trail
Monday, 8th January 2007
A S$12 million civil suit to recover funds by the new NKF board against TT Durai and four other former board members - Richard Yong (the former chairman), Mathilda Chua (ex-director) and Loo Say San (ex-treasurer). They were all declared bankrupt on May 16, 2007.
ACCS Executives Jailed For Fraud
Saturday, 22nd July 2006
Victor Tan Hor Peow, founder and former chief executive of Accord Customer Care Solutions (ACCS) was sentenced to four years and three months in prison for his role in an elaborate scam to falsely boost the company's income by millions of dollars and cheat its customer, Nokia Singapore (mobile-phone manufacturer) for fictitious repair services. Tan had pleaded guilty to 21 charges for cheating Nokia, fraud and false financial reporting. The ACCS's former general manager, Damien Ang, was sentenced to three years and six months in prison for similar charges. ACCS' former financial chief, Yip Hwai Chong Yip, who was jailed four years and four months.
TT Durai Arrested
Monday, 17th April 2006
Durai was arrested and was later out on bail. He was charged under the Prevention of Corruptions Act by the Police. He was to stand for trial with other members of the old National Kidney Foundation Board of Directors. In the trail, he has also agreed to pay back S$4 million to the new NKF.
Mas Selamat extradited to Singapore
Friday, 3rd February 2006
Mas Selamat extradited to Singapore from Indonesia. Mas Selamat was then detained in Singapore's Whitley Road Detention Centre under the Internal Security Act without trial. Mas Selamat was arrested earlier in Indonesia on 20 January 2006 for using a fake identity card in Java, where he was visiting his son who was said to be studying at a religious school there.
Honorary Citizen Award on Dr Kanai and Dr Brown
Tuesday, 17th January 2006
Dr Tsutomu Kanai, Chairman of Hitachi Ltd, Japan) and Dr Robert A Brown (President of Boston University, USA) with the Honorary Citizen Award for their valuable contributions to Singapore in the electronics and education fields. The Honorary Citizen Award is the highest form of recognition given by the Singapore Government to global talent for outstanding contributions towards the country's growth and development. It is conferred on those who have made a significant impact in the areas of business, science and technology, information communications, education, health, arts and culture, sports, tourism, community services or security. President S. R. Nathan will confer the Honorary Citizen Award on Dr Tsutomu Kanai and Dr Robert A Brown at a ceremony to be held at the Istana on 17 Jan 2006.
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