The government's revenues from stamp duty - a tax mostly involving property purchases -- could get a S$4 billion ($2.6 billion) - SINGAPORE, July 16 - The following are stories from Singapore newspapers on Monday. Reuters has not verified these stories.
THE STRAITS TIMES
- The government's revenues from stamp duty -- a tax mostly involving property purchases -- could get a S$4 billion ($2.6 billion) boost this year as the property market hovers at record levels.
- Despite a flurry of diplomacy at the very top levels, Singapore and Indonesia have not been able to resolve differences holding up the Defence Cooperation Agreement.
- About 1,900 jackpot machines in around 100 clubs in Singapore received S$673 million in the 2005/2006 financial year.
- Baey Yam Keng, a Singapore member of parliament, said he would vote to repeal the law which prohibits men to have sex with other men if it comes to a vote in Parliament.
The Home Affairs Ministry said in its proposed changes to the Penal Code last year that it would retain the ban on acts of 'gross indecency' between men.
THE BUSINESS TIMES
- Singapore is set to benefit from a recent surge in retirement funds in Australia as managers look to diversify risks and increase their exposure to Asia.
- Peter Lim, who is known as the 'Remisier King' and is estimated to be worth more than S$2 billion, said the stock market has two good years to go, although investors should think of how to exit the market by 2009 before the Singapore casinos start operations.
Lim said he was concerned about the property market because prices have risen too fast.
- Sino-Environment Technology Group , which makes equipment to treat industrial waste, expects its first-half earnings growth to be flat due to capacity constraints, the firm's executive director and chief financial officer David Tan said.
- More wealthy Southeast Asian individuals, including Singaporeans, are buying properties in London. More British investors have become interested in Singapore real estate as well, two senior private bankers with SG Private Banking said.
- Singapore is facing a shortage of experienced accountants as a lack of regulatory hurdles allow accountants to work anywhere in the world.
- Singapore banks are among those in Asia-Pacific which enjoy the highest ratings, according to Moody's Investors Service, but face rating risks as they expand regionally.
- Singapore is set to bring in a record 17,000 visitors in a four-day event for United States health firm Herbalife's multi-level marketing event held from July 19 to 22.
source:
http://sg.news.yahoo.com/rtrs/200707...t-ca02f96.html
PRESS DIGEST - Singapore newspapers - July 16 
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