Singapore, Cambodia solidify joint efforts in energy, climate finance, agri-trade
Singapore Prime Minister Lawrence Wong made this point on Wednesday (Jul 2), in a toast at the Peace Palace in Phnom Penh, at an official lunch hosted by his Cambodian counterpart, Hun Manet.
The Singapore leader is on a one-day trip to the kingdom. This is his eighth stop in an introductory tour of the Asean member states, which took him to Brunei and Malaysia last June, Laos in October, Indonesia and Thailand in November, Vietnam this March and the Philippines in June.
'In this uncertain global environment, it is more important than ever for Asean to stay cohesive, uphold open channels of dialogue, and work together to resolve our differences peacefully,' he said.
'Only then can we preserve our relevance, and continue advancing the region's collective interests.'
Both leaders discussed several priority areas of cooperation, including the import of low-carbon electricity from Cambodia to Singapore.
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An implementation agreement on carbon credits is also in the works.
PM Wong said: 'This will mobilise financing for clean-energy projects, uplift rural communities and improve livelihoods, while enabling both our countries to hit our net-zero goals.'
On agri-trade cooperation, he noted that Cambodia stands as a key agricultural exporter, while Singapore imports almost everything its people eat.
The Republic is also keen to diversify its sources of food imports, so closer collaboration will be 'mutually beneficial', he said.
Long friendship
Noting that both nations commemorate six decades of diplomatic ties this year, PM Wong pointed out that Cambodia was among the first countries to recognise Singapore's sovereignty.
The kingdom was also one of five countries where the Republic first opened its overseas missions.
The Singapore leader said: 'Our ties (were) built on the strong foundation laid by then prime minister Lee Kuan Yew and His Majesty, King-Father Norodom Sihanouk. It is a foundation of mutual respect, trust and friendship that continues to guide our relationship today.'
Hun Manet, the eldest son of long-time ruler Hun Sen, made his first visit to Singapore as Cambodia's prime minister last June. He took office in August 2023.
PM Wong added that, today, Singapore stands as one of Cambodia's largest investors and trading partners.
Latest figures put Singapore as Cambodia's third-largest foreign investor last year, with bilateral trade growing 7.1 per cent year on year to S$4.83 billion.
These investments sweep across the real estate, energy, trading and distribution, agribusiness, food, consumer, education and finance sectors.
PM Wong described both countries as 'steadfast partners' in human development.
Nearly 19,000 Cambodian officials have visited Singapore for training programmes in public health, digital governance and public administration.
Today, Cambodia has an 'ambitious' strategy to achieve high-income status by 2050, having made 'remarkable strides' in its transformation from a post-conflict society to a rapidly developing nation, said PM Wong.
'Singapore will continue to walk alongside Cambodia in this development journey.'
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Straits Times
4 hours ago
- Straits Times
Early start to heritage studies for Bukit Timah Turf City housing site is paying off
Sign up now: Get ST's newsletters delivered to your inbox SINGAPORE – A study published in 2021 found a swimming pool complex in the Old Police Academy at Mount Pleasant to be among the most significant in terms of heritage value, second to only a Senior Police Officers' Mess. The heritage study – meant to guide the development of the 33ha Mount Pleasant housing estate – said the complex was where trainees learnt swimming and life-saving skills, and police officers and their families spent their leisure time. Despite the findings, demolition work began on the complex within the past year, close to five decades after it was completed in 1976. Six buildings in Mount Pleasant have been conserved in all – four will be repurposed within the upcoming housing estate, while the other two, including the Senior Police Officers' Mess, are just outside of it. In contrast, 22 buildings are slated for conservation within an upcoming residential estate at the old 176ha Bukit Timah Turf City, including two grandstands that a separate heritage study identified as the site's most exceptional buildings. The differing outcomes for the two sites' most significant buildings can be explained largely by the timing of the two studies vis-a-vis planning and building works for the future estates. When the Old Police Academy study started in 2018, six buildings and ancillary structures had already been demolished after the Land Transport Authority began work on Mount Pleasant MRT station within the academy's compound in early 2015. Top stories Swipe. Select. Stay informed. 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In comparison, heritage studies on the area near the two grandstands in Turf City were completed before the Government announced in September 2022 that a future MRT station will be located near the two stands . Work on the station site began only after Turf City closed in late 2023 , and the station's location was reflected for the first time in URA's plans on June 25, when the agency unveiled the Draft Master Plan 2025. The Turf City study was the first implemented under the Government's Heritage Impact Assessment (HIA) framework, which was announced in 2022 and for which the Old Police Academy study served as a pilot . The conservation of 22 buildings in the upcoming Turf City estate shows that the Government's move to start heritage studies sufficiently early in the planning process – and make decisions based on their findings – is paying off. 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Building an integrated facility like Our Tampines Hub from scratch is relatively simple, but inserting new and varied uses into the purpose-built grandstands necessitates creativity. An artist's impression of how the former Fairways Quarters could be integrated in community node. PHOTO: URBAN REDEVELOPMENT AUTHORITY Conservation buildings should ultimately benefit the public, and URA's early plans are promising, with most of the 22 in sites that are likely to be publicly accessible. The agency has also said that it will commemorate and mark the original extent of Turf City's racetracks – an idea put forth by heritage groups. Considering the HIA framework's success in guiding the redevelopment of Bukit Timah Turf City thus far, the authorities should apply it to other large sites set for a makeover, such as Sembawang Shipyard and Paya Lebar Air Base. On this front, the Draft Master Plan 2025 exhibition shows that URA's planners already have one eye on the future. 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Straits Times
5 hours ago
- Straits Times
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In 2022, Dyson said it would invest $1.5 billion in its Singapore operations over the subsequent four years, and committed to hire more than 250 engineers and scientists across robotics and machine learning. The firm confirmed on June 30 that it is still committed to the plan. In 2023, it recorded a 9 per cent year-on-year increase in profit to £1.4 billion (S$2.4 billion), on a 9 per cent rise in global revenue of £7.1 billion. Despite global headwinds, it also increased its research and development expenses by more than 40 per cent in 2023, bringing total expenses to more than £2 billion since 2021, putting what it preaches into practice. Today, the company still hires some 2,000 employees in Singapore, half of whom are engineers key to the development of its latest PencilVac, which will go on sale here on July 14. The product's patented digital motors are made in Singapore, with one motor rolling off its Jurong manufacturing line every two seconds. These motors power its vacuum cleaners, air purifiers and hair dryers. Dyson had also said in 2023 that by the end of 2025, next-generation batteries would be produced in a new 247,000 sq ft plant located in Tuas . It had called the plant the most significant investment in advanced manufacturing in the company's history. The next-generation batteries would be smaller, lighter, more sustainable and more energy-dense than the ones available today, according to the company. Mr Dyson, who travels to Singapore almost every month from Gloucestershire in the UK, where he lives, did not want to confirm if the battery plant is on track to open. During one of his visits in February, he gave Deputy Prime Minister Gan Kim Yong a preview of the PencilVac's motor, the firm's smallest and fastest vacuum motor with a diameter of just 28mm, the size of a 50-cent Singapore coin. 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Dyson has been actively engaging the Singapore authorities for a number of years to do more to inspire students here to be interested in science and engineering designs. It is mulling over several options to intensify these efforts, including bringing to Singapore its degree apprenticeship programme. 'We are looking at it,' he said, adding that 'the model for Singapore might be slightly different' because Dyson has existing internship programmes with local universities. Every year since 2019, up to 50 interns from the four local universities go through Dyson's doors doing stints between three and 12 months, providing a pipeline for its manpower needs. The proportion of people in Singapore taking engineering and science at university is also higher than in the UK, he noted. Born in Norfolk, Mr Dyson spent a year at the Byam Shaw School of Art before reading furniture and interior design at the Royal College of Art. There, he made the switch to industrial design. 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Straits Times
5 hours ago
- Straits Times
Young & Savvy: Having a savings plan can help you cross life's milestones easier
Saving up for big expenses can be tiring, but it's also satisfying to see her efforts come to fruition, says the writer. SINGAPORE – Although we had budgeted about $60,000 for our home renovation, speaking to various contractors made my husband and I realise that our budget would quickly rise to $80,000. The factors that drove up our renovation costs include soundproofing the master bedroom, as my husband is sensitive to loud noises, and installing window grilles that are safe for cats that we plan to adopt. The biggest expenses for most people often occur shortly after they enter the workforce. This is especially so for young couples who are starting their lives together. In the Singapore context, we all know too well that when this major life milestone takes place, many young couples end up spending the bulk of their savings on their new homes, renovation costs and, yes, wedding expenses. As someone who has been in the workforce and earning a full-time salary for not more than five years, I was initially very worried about how I would afford all these things. Over the past year, my husband and I came up with a plan to work towards paying for these milestones. Firstly, we set aside a fixed amount of about $2,500 every month for upcoming expenses, and this sum goes into the joint bank account that we opened to save for big expenses. Some people might prefer saving what's left of their salary at the end of the month, but I've found that saving at the start of the month works better for me. Top stories Swipe. Select. Stay informed. 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The spreadsheet shows us how much we have as a couple. While such sessions do not have to be monthly, scheduling a 'finance date' now and then is a good way for couples to keep their savings and investments on track. It is prudent to look ahead because there is nothing worse than being hit with an unexpected increase in essential expenses that you have no money to pay for. A case in point is the possible 30 per cent jump in our home renovation costs. My first reaction to big upcoming expenses used to be: 'How can I possibly afford that?' By laying out my finances clearly – seeing all the numbers in black and white – I now have more confidence in planning so that I can meet my financial milestones. During our monthly session, we also talk about our upcoming milestones and decide the budget for each one. This allows us to start saving for each milestone early and even leave some room for us to revise the budget, such as by reducing non-essential spending if necessary. Understanding your priorities can also help you save some money – it's not financially possible to have the best of everything and it's about making the best use of what we have. So singling out what's most important to you can ensure that your hard-earned money is spent on things that matter to you. For example, we decided that being able to house our cats safely and having a quiet master bedroom to sleep in every night would be more important than having fancy tiling for our home. As we plan to live in our first home for many years, it makes more sense to ensure that we spend a bit more on quality fixtures that will last longer. I also set aside money for our emergency fund every month, which has about three to six months' worth of our average monthly expenses. This is in case of job losses or sudden spikes in medical expenses. Let me share a useful shopping tip which I have personally found to be very effective in not only helping me save more every month, but also makes it less painful to cut down on expenses. It starts with changing your mindset when it comes to spending on things that you probably like but are not crucial to your day-to-day use. So before I make the decision to buy, I tell myself that I will delay the purchase by one week and see if I still want the item then. Just by going through this mental exercise, I have successfully resisted many non-essential purchases. Indeed, I have found it more fulfilling that I have succeeded in saving more each month, simply by not giving in to impulse shopping. I've also dialled back on agreeing to too many overseas trips with friends, as even short weekend getaways can quickly add to expenses. While it's important to save up for life's big milestones, I've made it a point not to compromise on the enjoyment part of life. After all, what's life without bubble tea a couple of times a week and spending money on things that make me happy, like cute K-pop merchandise. Saving up for big expenses can be tiring, but it's also satisfying to see my efforts come to fruition – being able to afford what is truly important to me. I hope my future cats will enjoy their new home as much as we do.
