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1 in 3 Singapore workers want their bosses to provide more financial wellness support

SINGAPORE: A recent report by Endowus and Intellect has found a growing demand for financial wellness initiatives in the workplace.

According to the joint report, a notable one in three employees expressed a desire for greater support through various financial wellness programs.

Specifically, 34% of workers are interested in financial wellness workshops, 33% in personal finance interest groups, and another 34% in financial literacy training sessions.

The interest is particularly pronounced among millennials, with 35% seeking workshops and training to bolster their financial knowledge.

The findings point to the critical role of employer involvement in promoting financial readiness among employees. The report emphasizes that such support keeps employees engaged and loyal and enhances their overall job satisfaction.

82% of workers indicated that good financial preparedness contributes significantly to their job satisfaction. Furthermore, 78% of respondents believe that being financially prepared reduces distractions and enhances productivity at work.

The impact of financial wellness on employee retention is also notable. The report reveals that 71% of employees are less likely to consider leaving their jobs if their employers provide adequate support for financial preparedness.

This statistic underscores the potential of financial wellness programs as a tool for reducing turnover and fostering a more stable and committed workforce.

As financial wellness becomes an increasingly important aspect of employee well-being, it is clear that employers who invest in such programs can expect to see tangible benefits in terms of employee satisfaction, productivity, and retention.

The data from the Endowus and Intellect report suggests that addressing the financial literacy and preparedness of workers is not just a perk but a crucial element of modern workplace support. /TISG

Singapore stocks slipped on Tuesday—STI dropped by 0.1%

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SINGAPORE: Singapore stocks slipped on Tuesday, July 16, influenced by the mixed performance from the US and European markets.

The cautious sentiment followed an assassination attempt on former US President Donald Trump over the weekend, which left global investors on edge.

The Straits Times Index (STI) dropped by 0.1% or 4.06 points to 3,495.83 shortly after the market opened at 9:01 am, The Business Times reports.

In the broader market, there were more losers than gainers, with 53 stocks declining and 44 making gains after 34.8 million securities were traded, amounting to a total value of S$65 million.

Yangzijiang Shipbuilding was the most active stock by volume, rising by 3.5% or S$0.08 to reach S$2.38. The shipbuilding company saw 3.5 million shares change hands.

This increase followed an announcement on Monday that the company plans to acquire land for a new clean energy ship manufacturing base.

Other heavily traded stocks included Singtel and Marco Polo Marine. Singtel saw a 1% drop or S$0.03 decrease to S$2.98, with 2.9 million shares traded.

Meanwhile, Marco Polo Marine gained 1.6% or S$0.001, trading at S$0.062 with 1.7 million shares exchanged. Banking stocks declined in early trade. DBS Group Holdings fell by 0.3% or S$0.13 to S$37.77.

United Overseas Bank (UOB) remained unchanged at S$32.95, while Oversea-Chinese Banking Corporation (OCBC) declined by 0.6% or S$0.09 to S$15.24.

In the US, the markets were more upbeat despite the unsettling news of the assassination attempt. The Dow Jones Industrial Average reached a record high on Monday, driven by steady bank earnings and comments from the Federal Reserve.

The Dow increased by 0.5%, closing at 40,211.72, marking its highest point since mid-May. The Nasdaq Composite Index climbed 0.4% to 18,472.57, while the S&P 500 rose by 0.3% to 5,631.22.

European markets, however, did not fare as well. They ended lower on Monday, affected by less optimistic updates from the luxury sector and the cautious mood following the Trump incident.

The Stoxx 600 dropped by 1%, ending a three-session winning streak. /TISG

Read also: Singapore stocks started the week on a positive note—STI rose by 0.2%

Featured image by Depositphotos

Young Singaporeans not wanting to have kids say they “don’t need a reason” not to, while others say it’s “expensive in this economy”

SINGAPORE: A street interview has sparked a conversation among young Singaporeans about their views on parenthood.

When asked about their future plans for children, two young women responded with a firm “no” or “not for me,” citing personal reasons ranging from financial concerns to doubts about their parenting abilities.

“It seems painful. Imagine you go through 9 months… What if you don’t even like your kid? 9 whole months and you don’t even want to raise the kid, not for me,” said one Singaporean woman.

And it’s expensive, it’s really expensive in this economy,” she added. She also noted that she’s scared of looking different after giving birth.

 

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A post shared by LADIES FIRST (@ladiesfirsttv)

“Another reason is because I don’t think I’m good with kids at all. I’m better off as a single aunt or something like that,” shared another interviewee.

The video resonated with many Singaporeans online who believe that not having kids should be a personal choice. Several questioned societal expectations and the pressures associated with traditional family roles.

“Why are people angry at other people not wanting to have kids, no matter the reason? It’s so weird. How does it personally affect you?” remarked one commenter.

Another pointed out, “Your body, your choice. You don’t need a ‘mature’ reason as to why you don’t want to have kids. You don’t need a reason at all.”

Another one agreed, stating, “No is a complete sentence!”

Pointing to the rising costs, one said, “In the past, a single income was more or less able to raise a family of 3 to 4. Now, many people are just barely able to survive due to the deterioration of real income.”

“When you’re single and barely have a decent income, of course, you think about your future alone; even dating feels hopeless because of people you encounter who aren’t giving off responsible partner vibes,” remarked another commenter. 

“It’s easy to say yes to kids when you see your partner as someone who can be a responsible, loving parent,” she added, noting that life seems easier with a partner who is more than just a passing companion.

Others highlighted the benefits of modern life and how it offers numerous activities to stay occupied. “Some people also choose to raise pets. That’s why you see some elderly ladies with a bunch of dogs, cats, and so on,” he said.

One commenter said, “Something that often goes unmentioned is how many people who criticise young adults for not wanting to have children overlook the responsibility of ensuring a child receives a stable upbringing.”

“Being in poor health, not emotionally or financially stable are all reasons not to have a child, and having a child while going through such things SHOULD be considered a form of child abuse.

I’m not saying people should be barred from childbirth based on financial literacy, but bringing a child into this world while being aware that you are unable to provide a healthy environment for them is malicious at worst and incredibly negligent at best,” he added. /TISG

Read also: 4 in 10 young women do not foresee themselves getting married

DBS warns JB-SG RTS link could lead to significant retail value leakage

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SINGAPORE: The Johor Bahru-Singapore Rapid Transit System (RTS) Link is set to transform travel between the two cities, but DBS warns it could lead to significant retail value leakage.

According to Singapore Business Review, DBS forecasts a 5.4% leakage in retail value and a 3% to 4% impact on local retail sales in Singapore, pushing retailers to enhance their offerings to remain competitive.

Goods and services in Johor Bahru have become more affordable, thanks to the weaker Malaysian Ringgit (MYR) and the recent Goods and Services Tax (GST) hikes in Singapore.

This, combined with reduced travel times due to the RTS, will likely draw Singaporeans across the border in search of better deals.

DBS expects that the average daily spend per person could drop to as low as S$100, with more frequent trips to Johor Bahru.

This results in a total retail sales outflow between S$1.5 billion and S$2.1 billion, equivalent to 3%-4% of Singapore’s total retail sales in 2023.

In the food and beverage (F&B) sector, DBS expects sales to drop by S$450 million to S$620 million, around 4% to 5% of 2023 sales, once the RTS starts operating.

To counter this potential revenue loss, local establishments are encouraged to differentiate themselves with premium offerings.

DBS suggests that malls could onboard eateries famous in Johor Bahru to attract curious customers who may be hesitant about the commute.

Service providers are also expected to feel the impact, with potential losses of S$580 million to S$820 million, or 15%-21% of 2023 receipts.

To stay competitive, these providers may adopt attractive pricing strategies, while high-end providers might focus on improving service quality.

Supermarkets expecting to lose S$45 million, less than 1% of the expected 2024 modern grocery market, should focus on high-end offerings to attract shoppers less concerned about prices.

DBS also recommends that supermarkets market online services and provide free shipping to sell convenience to a broader audience.

Despite the RTS link’s “relatively subdued impact,” DBS advises Singaporean drugstores to step up their offerings, similar to what established health and beauty stores like Guardian are doing in major Johor Bahru malls, to stay competitive.

DBS highlights that Guardian has recently introduced new Korean skincare brands in its stores. /TISG

Read also: S$3B Malaysia-Singapore RTS link plan might be the world’s most important rail link to supercharge SG-MY economies

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BTS’s Jin sends out supporting message after finishing his Olympic Games 2024 torchbearer role in Paris

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BTS’s Jin has brought excitement to Paris in the lead-up to the Paris 2024 Olympic Games! Jin participated in the Summer Olympics torch relay for Paris 2024 on July 14, Bastille Day.

He expressed his gratitude through his agency, BIGHIT MUSIC, saying:

“It is an honor to be part of such a significant moment. It was because of ARMY, BTS’s fan group, that I could perform the amazing duty of torchbearer. Thank you so much.”

He added, “I was so nervous that time flew by, but I completed it to the best of my ability thanks to the immense support from many people on site.”

Additionally, he expressed his aspirations for the Korean national team, saying:

“I hope that all of the Korean athletes competing in the Olympics achieve tremendous success for their dedication, and I will support them wholeheartedly. I also hope there will be much interest in the 17th Paris Paralympic Games this August.

In the future, I’ll keep working harder and trying to impress.”

Photo: Instagram/Jin

Memorable event

Jin was a torchbearer who linked important pathways for relays from the Avenue Rivoli crossroads to the Place Carrousel in Paris. In front of the Louvre Pyramid, he handed the torch to Sandra Laoura, a former national freestyle skier for France.

After the torch relay, which lasted about 10 minutes, Jin waved goodbye to the crowd gathered for the event.

Starting in Olympia, Greece, in April of last year, the torch relay for the Paris 2024 Olympic Games will pass through 64 locations, including French cities and coastal regions, before the opening ceremony.

Oldest member of BTS

Jin, a.k.a. Kim Seok-jin, is a vocalist and member of the internationally popular K-pop group BTS.

Born in 1992, Jin is the oldest member of the group, earning him the nickname “Jin Hyung” (hyung meaning older brother) from the younger members and ARMY (BTS’s fanbase).

Top in-demand skills for AI jobs in Singapore: Machine learning and Python programming

SINGAPORE: Python programming and machine learning are the most in-demand skills for AI jobs in Singapore, according to a recent report by Indeed.

The report also highlights a significant increase in AI job listings, nearly doubling from 2018 to 2023.

According to the Singapore Business Review, Indeed’s data reveals that 61% of generative AI job listings in Singapore require machine learning expertise, while 54% seek proficiency in Python programming.

Python is especially popular due to its AI and machine learning applications flexibility. Other tools like PyTorch and C++ are also in high demand, appearing in 24% and 23% of job ads, respectively.

Callam Pickering, senior economist at Indeed APAC, commented on Singapore’s quick adoption of generative AI tools:

“Singapore has rapidly established itself as a global leader on GenAI, adopting these tools faster than their global peers. As AI becomes crucial across industries, there’s a growing need for these skills.

This data helps recruiters target specific skills and helps job seekers stay competitive,” he said.

The report also identifies other top skills for AI jobs in Singapore. In 19% of job ads, deep learning is required, while programming languages like Java and C are sought after in 18% and 13% of listings, respectively.

SQL, Spark, and Linux skills are also in demand, featuring in 12%, 11%, and 10% of job ads.

The increased demand for AI skills is not without its challenges. Singaporean businesses face a talent shortage, leading to intense competition in the job market.

Mr Pickering emphasised the need for recruiters to prioritise hiring for AI skills: “Recruiters need to prioritise hiring for AI skills to keep up with the demand and ensure they don’t fall behind in leveraging Singapore’s AI growth.” /TISG

Read also: 7 in 10 companies are reluctant in hiring individuals without AI skills

Featured image by Depositphotos

Boy’s Crocs-type sandal gets his foot stuck in Jurong Point escalator

SINGAPORE: A young boy’s foot got stuck in an escalator at Jurong Point on Sunday (July 14). After officers from the Singapore Civil Defence Force freed him, he was brought to National University Hospital.

Because there were many witnesses to the incident, photos and videos were shared on Reddit, Facebook, and TikTok, and the boy can be heard crying and screaming in some of the videos.

@pravinmah1508

Little boy stuck at jurong point escalator .. Rescue team under progress

♬ Drift Night – Alfianie

Other photos show a man, presumably the boy’s father, holding him as the officers freed his foot. The SCDF officers freed the boy after around 40 minutes. News reports say that around 20 officers came to Jurong Point in response to the incident.

The incident occurred sometime before 8:00 pm on Sunday, with the officers saying they received a request for assistance by 7:45 pm.

By around 8:30 pm, the officers lifted the boy onto a stretcher after he was freed, and witnesses say that the crowd that had gathered broke out into applause.

Photos shared online after the boy was taken away showed a small blue shoe resembling a Crocs-type sandal stuck in the escalator. The escalator was closed for maintenance after the incident.

In September 2023, an Australian news site reported that Crocs had been banned from airports, train stations, and shopping centres after a series of worrying incidents occurred involving the shoe.

Crocs, which are made of foam, are popular among children and even some adults as they are easy to put on and are non-slip.

However, following multiple incidents, signs were posted on escalators banning the shoe, which can get sucked into and caught on the moving stairs’ mechanism.

A four-year-old girl from Sydney nearly lost her foot after it got caught in an elevator at the airport.

“I was trying to pull her shoe out but then she started getting really hysterical and I realized something was wrong,” Lisa Brennan told Yahoo News Australia.

“So I started shouting at people to please press the emergency stop button but people in front of me just didn’t understand what was happening. A guy behind me that could see her foot was stuck, so he jumped over me and ran down and pressed it.”

This is why you don’t wear crocs on the escalators!
byu/SnooDingos8800 inDisneyWorld

In 2019, the SCDF called in after a little boy’s foot got stuck in the escalator at Jewel Changi. In May of the previous year, a five-year-old boy sustained a cut on his toe after the slipper he was wearing also got stuck in an escalator. /TISG

Read also: SCDF called in after boy’s foot gets stuck in escalator at Jewel Changi

“I threw away my cup of juice” — Netizen claims orange juice from vending machine came from “several rotten oranges”

SINGAPORE: A Facebook user wrote that the orange juice they bought from a vending machine tasted “a bit off,” leading them to look at the oranges in the machine.

To their surprise, the oranges did not appear as fresh as they would have wanted, with some already rotten.

The netizen, who goes by SilencerOne on Facebook, posted about their experience on the popular COMPLAINT SINGAPORE page on Saturday (July 13). They added pictures of the oranges they claimed to have seen in the machine.

SilencerOne began their post by writing that they buy orange juice regularly from IJOOZ dispensers.

“Late last night, I bought one at Punggol and thought it tasted a bit off. Upon closer inspection, I noticed several rotten oranges inside the machines.

In fact, there was one (which I couldn’t photographed) that had a white mouldy skin! Needless to say, I threw away my cup of juice.”

The netizen went on to ask how often the vending machine machines are inspected and cleaned and whose responsibility it is to take care of them. They added, “I am now having doubts about getting my orange juice from these machines again.”

The company, which started in Singapore and to whom The Independent Singapore has contacted for comments or updates, claims to have sold 70 million cups of fresh juice in 32 countries.

Its main selling point is that people can have “100 per cent natural and fresh” juice 24 hours a day, seven days a week, with 99.99 per cent reliability.

According to its website, four-fifths of the people in Singapore have tried orange juice from IJOOZ, and 50 per cent drink IJOOZ multiple times. The oranges used in its machines are imported from Australia and the United States.

Many have appreciated IJOOZ dispensers because the fruit is squeezed right in front of those using the vending machine, and the juice is reportedly sweet.

 

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Netizens commenting on the post said they’ve never seen machines being cleaned, although this could mean that cleaning is done during off-peak hours when no one is around.

Others advised the post author to check the machine before buying juice the next time, with some saying that due to the heat in Singapore, it should not be surprising when fruit goes bad quickly.

Some pointed out that IJOOZ machines usually have numbers posted where people can call when issues arise and advised the post author to do so when something is “off.” /TISG

Read also: ‘Rotten’ orange seen in Q vending machine at Civil Service Club

Louis Ng: Pet cats in HDBs need to be neutered to prevent them from making loud mating call noises at night

SINGAPORE: Longtime environment and animal welfare activist Louis Ng (Nee Soon GRC) said at an animal protection policies dialogue on Sunday (July 14) that he’d be calling for the mandatory sterilization of pet cats in Singapore.

In May, a 35-year ban on cats in HDB flats was reversed, which Mr Ng called “absolutely good news.”

“Finally, finally, finally after so many years of speaking up and pushing for change, we will allow the keeping of cats in HDB flats,” he added.

The Animal & Veterinary Service (AVS) will publish a finalized Cat Management Framework for the management and welfare of cats in Singapore. The framework includes a two-year transition period for cat licensing.

The forum was held at the Nee Soon East Community Club.

Representatives from the Society for the Prevention of Cruelty to Animals (SPCA) and the Animal Concerns Research and Education Society (Acres), which Mr Ng founded in 2001, and other animal rights groups were also present.

The MP said that at an upcoming session in Parliament, he plans to propose mandatory sterilisation for cats through an “extensive” White Paper to strengthen animal welfare in the city-state.

Mr Ng was joined at the forum by fellow Nee Soon GRC MP K Shanmugam, who is also the Minister for Home Affairs and Law, The Straits Times reported. The two MPs talked about the different ways to prevent animal abuse.

Among the proposals in the White Paper are higher penalties for animal abuse cases and more precise definitions for the duty of care for people who own or work with animals.

He said that he plans on pushing for a lifetime ban on owning animals or working in an animal-related business for individuals found guilty of animal abuse. At present, they are disqualified for as long as 12 months.

Additionally, to prevent cats from making loud noises when in heat or caterwauling, Mr Ng will also suggest mandatory sterilization.

Neutering cats would prevent residents nearby from getting disturbed by the loud noises cats sometimes make, especially at night. The MP added that it would help ensure the roll-out of the cat management framework would occur smoothly.

He said feedback from the forum would also be considered for the White Paper, adding that he would call for a stronger focus on animal welfare in school curricula and better efforts to ensure that dog breeders follow guidelines.

“Share your views with us and I will table the first-ever Adjournment Motion in Parliament on animal protection issues. I will speak up and share your views in Parliament,” wrote Mr Ng in a Facebook post. /TISG

Read also:  Cat ban in HDB flats reversed

‘Drumstick and thigh same size as chilli sachet’ — Dissatisfied diner says KFC is using ‘chicks’ instead of ‘chicken’ for his order

SINGAPORE: An unhappy customer took to social media saying he’ll never return to a particular fast-food chain after being disappointed with the small size of the chicken pieces in his order.

In a post on the popular COMPLAINT SINGAPORE Facebook page, Desmond Loo wrote that it would be the first and last time he would ever eat at KFC, a US-based chain that’s been popular for its fried chicken for several decades.

Punctuating his post with not one but three red-faced angry emojis, he wrote that the fast-food chain had used a “chick instead of chicken” and that the “size of drumstick and thigh is same as chili sachet.”

To prove his point, he posted photos of his order; the sizes of the leg and thigh pieces, both of which looked untouched, were around the same length as the condiment packets.

Shrinkflation

Over the past few years, many in Singapore have noted that food has gotten more expensive.

This should not be too surprising as prices have gone up due to global inflation in the wake of the COVID-19 pandemic, supply chain issues, and other global events.

However, what has shocked and dismayed some Singaporeans is that as prices have gone up, portion sizes have gotten smaller, a phenomenon known as “shrinkflation.”

Read also: Shrinkflation woes: GST increased just 1% but food reduced to “kids meal portion” that looked like “leftovers”

The Independent Singapore has contacted Mr Loo and KFC for further updates or comments.

Commenters on Mr Loo’s post, however, were sympathetic toward him. One said that while the chain had been good in the 1970s and 1890s, its quality appears to have declined.

Another wrote that KFC in Thailand and Malaysia serves better food than KFC in Singapore.

KFC

KFC used to be known as Kentucky Fried Chicken and traces its roots to a restaurant in that state, which began in 1930. Its first restaurant in Singapore, located at Somerset Road, opened its doors in 1977.

According to its website, the chain currently has 30 stores across the city-state and serves more than 1 million customers every month, making it one of the biggest fast-food chains in Singapore.

As of April this year, the brand is in over 30,000 locations in 150 countries worldwide, making it the second-largest restaurant chain after McDonald’s.  /TISG

Read also: German TikToker says she can’t go back home after tasting KFC in SG