ST Headstart: Having a savings plan for big expenses
Big expenses like a house, renovations or even a dream vacation may sometimes feel out of reach. But these goals can be more achievable with a clear savings plan, as my colleague Rosalind finds. In her latest Young & Savvy column, she advises being less impulsive with purchases, and explains why doing so does not mean completely cutting back on things that bring you joy.
For cash-strapped first-jobbers, managing finances can be a challenge, and making every dollar count is essential. When you're just starting out and looking to buy insurance, what types should you prioritise? In this Headstart on Record episode, I explore the different types of insurance products and share tips on how to turn away those pushy insurance agents, and help you make informed choices about your coverage.
Speaking of being cash-strapped, Crazy Rich Asians actor Henry Golding did not always have a multi-million dollar net worth. In this interview, he tells me about how he went from teenage barbershop assistant to walking red carpets at Hollywood premieres.
Finally, find out what goes on in a day of the life of a private investigator in Singapore.
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Business Times
10 hours ago
- Business Times
SPH Media lays off 11 workers with decommissioning of old printing presses
[SINGAPORE] SPH Media will lay off 11 production workers, following the decommissioning of two of the company's 30-year-old printing presses which have reached the end of their operational lifespan. SPH Media chief executive officer Chan Yeng Kit announced the job cuts in an e-mail sent to staff on Tuesday (Jul 22). He said the cuts were the result of operational reviews taking place as the company progresses on its transformation journey, and not driven by major restructuring or cost-cutting. The affected workers, who were notified on Tuesday, include those operating two of the company's six printing presses and involved in distribution of its newspapers. The Colorliner printing presses, made by Manroland Goss Web Systems GmbH and in operation since 1996, are being decommissioned, with printing operations to be consolidated on the media company's four other Commander presses from Koenig & Bauer (KBA). The newer KBA presses, deployed in 2003, can print up to 56 broadsheet pages in colour and up to 72,000 copies of the paper per hour. This is more than what the older Colorliner presses were able to achieve at 40 pages in full colour and up to 72,000 copies per hour. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up An SPH Media spokeswoman, in response to queries from The Straits Times, said upgrades to the KBA machines have allowed the company to consolidate its daily printing operations onto the newer presses. 'These changes allow us to maintain quality printing operations and improve process efficiency. Regrettably, the changes have also resulted in redundancies across 11 job roles in SPH Media's production division,' she said. The spokeswoman added that the company had explored redeployment opportunities, but did not manage to find suitable placements for the affected workers. Chan, in his internal e-mail, said the company's significant investment in refreshing the KBA presses over the past three years will ensure that SPH Media can maintain quality printing operations. 'Print continues to be an important format and channel through which we engage our audiences daily,' he said. He added that even as the company makes these changes, it remains committed to meeting the demand for print formats and will continue to find new and better ways to do so. SPH Media has said in the past that the introduction of the newer printers had substantially improved the capacity of its print centre, located in Jurong. The 11ha facility is one of largest printing plants in the Asia-Pacific, with some of the most advanced and state-of-the-art printing facilities that print The Straits Times and 16 other internal publications as well as foreign newspapers on contract. More than a hundred people are involved in every shift of the print centre's operation, seven days a week, 363 days a year. The plant shuts down only on Chinese New Year and Christmas Day. The 11 workers were told they would be let go on Jul 22 by SPH Media head of production Lim Swee Yeow. SPH Media deeply appreciates the contributions of the affected staff, said the spokeswoman. The company has informed the unions and NTUC of the layoffs, and is committed to supporting the workers during this period of transition 'through comprehensive severance packages aligned with tripartite guidelines, career coaching, job placement assistance, CV enhancement services, and emotional support through professional counselling', she added. In his e-mail, Chan also said SPH must continue with reviews of its various divisions as needed. These reviews are necessary to ensure operations remain fit for purpose given technological advances as well as changing customer preferences, he said. Not all such reviews will result in job redundancies, he added, and that the company's human resources department will explore all alternatives - including redeployment and retraining - before considering job cuts as a last resort. Chan also reiterated a point he made at an internal townhall in May that the reviews are not driven by major restructuring or cost-cutting. 'I am committed to building our strategy and business with all of you. This includes putting in place new directions, initiatives and investments to drive SPH forward,' he said. 'As we do so, we must continue to spend prudently and seek efficiencies where we can as part of our regular operations.' The organisation must navigate this tension well in order to succeed, he added. In November 2024, SPH Media laid off 34 technology workers across various teams and ranks, amid a structuring of the company's technology division. The affected workers made up about 10 per cent of employees in the division. More recently, SPH Media-owned Tech In Asia announced on Jul 1 that it will stop publishing its Indonesia edition from Jul 15, and will wind down operations in the country. The move, which affected 18 per cent of Tech in Asia's team, came amid an exercise to streamline operations and focus on its international edition. Tech In Asia was acquired by SPH Media in 2024. On Jul 22, SPH Media said it remained focused on strengthening its capabilities to serve audiences across both print and digital platforms, and on investing in sustainable and future-ready media operations. THE STRAITS TIMES
Straits Times
10 hours ago
- Straits Times
SPH Media lays off 11 workers with decommissioning of old printing presses
SPH Media chief executive officer Chan Yeng Kit announced the job cuts in an e-mail sent to staff on July 22. SINGAPORE - SPH Media will lay off 11 production workers, following the decommissioning of two of the company's 30-year-old printing presses which have reached the end of their operational lifespan. SPH Media chief executive officer Chan Yeng Kit announced the job cuts in an e-mail sent to staff on July 22. He said the cuts were the result of operational reviews taking place as the company progresses on its transformation journey, and not driven by major restructuring or cost-cutting. The affected workers, who were notified on July 22, include those operating two of the company's six printing presses and involved in distribution of its newspapers . The Colorliner printing presses, made by Manroland Goss Web Systems GmbH and in operation since 1996, are being decommissioned, with printing operations to be consolidated on the media company's four other Commander presses from Koenig & Bauer (KBA). The newer KBA presses, deployed in 2003, can print up to 56 broadsheet pages in colour and up to 72,000 copies of the paper per hour. This is more than what the older Colorliner presses were able to achieve at 40 pages in full colour and up to 72,000 copies per hour. An SPH Media spokeswoman, in response to queries from The Straits Times, said upgrades to the KBA machines have allowed the company to consolidate its daily printing operations onto the newer presses. 'These changes allow us to maintain quality printing operations and improve process efficiency. Regrettably, the changes have also resulted in redundancies across 11 job roles in SPH Media's production division,' she said. The spokeswoman added that the company had explored redeployment opportunities, but did not manage to find suitable placements for the affected workers. Mr Chan, in his internal e- mail , said the company's significant investment in refreshing the KBA presses over the past three years will ensure that SPH Media can maintain quality printing operations. 'Print continues to be an important format and channel through which we engage our audiences daily,' he said. He added that even as the company makes these changes, it remains committed to meeting the demand for print formats and will continue to find new and better ways to do so. SPH Media has said in the past that the introduction of the newer printers had substantially improved the capacity of its print centre, located in Jurong. The 11ha facility is one of largest printing plants in the Asia-Pacific, with some of the most advanced and state-of-the-art printing facilities that print The Straits Times and 16 other internal publications as well as foreign newspapers on contract. More than a hundred people are involved in every shift of the print centre's operation, seven days a week, 363 days a year. The plant shuts down only on Chinese New Year and Christmas Day. The 11 workers were told they would be let go on July 22 by SPH Media head of production Lim Swee Yeow. SPH Media deeply appreciates the contributions of the affected staff, said the spokeswoman. The company has informed the unions and NTUC of the layoffs, and is committed to supporting the workers during this period of transition 'through comprehensive severance packages aligned with tripartite guidelines, career coaching, job placement assistance, CV enhancement services, and emotional support through professional counselling', she added. In his e-mail, Mr Chan also said SPH must continue with reviews of its various divisions as needed. These reviews are necessary to ensure operations remain fit for purpose given technological advances as well as changing customer preferences, he said. Not all such reviews will result in job redundancies, he added, and that the company's human resources department will explore all alternatives - including redeployment and retraining - before considering job cuts as a last resort. Mr Chan also reiterated a point he made at an internal townhall in May that the reviews are not driven by major restructuring or cost-cutting. 'I am committed to building our strategy and business with all of you. This includes putting in place new directions, initiatives and investments to drive SPH forward,' he said. 'As we do so, we must continue to spend prudently and seek efficiencies where we can as part of our regular operations.' The organisation must navigate this tension well in order to succeed, he added. In November 2024, SPH Media laid off 34 technology workers across various teams and ranks, amid a structuring of the company's technology division. The affected workers made up about 10 per cent of employees in the division. More recently, SPH Media-owned Tech In Asia announced on July 1 that it will stop publishing its Indonesia edition from July 15, and will wind down operations in the country. The move, which affected 18 per cent of Tech in Asia's team, came amid an exercise to streamline operations and focus on its international edition. Tech In Asia was acquired by SPH Media in 2024. On July 22, SPH Media said it remained focused on strengthening its capabilities to serve audiences across both print and digital platforms, and on investing in sustainable and future-ready media operations.
Straits Times
3 days ago
- Straits Times
Happy, healthy, home-ready: Sanctuary prepares rescued kitties for adoption
Find out what's new on ST website and app. Ms Eva Helina Irman, operations manager of Little Katpaws, keeping the cats at the animal shelter active. SINGAPORE – Ms Eva Helina Irman runs Little Katpaws, a cat shelter on the second floor of a shophouse in Aliwal Street. The cat sanctuary, about 2,000 sq ft, is designed like a home for felines to roam freely. This is to help the rescued cats 'acclimate to human homes should they get adopted', said Ms Eva, 28, who is the operations manager. Little Katpaws was started by her 48-year-old mother Katrina Shamsudin in 2016. 'It was a small place located at Ming Arcade in Cuscaden Road. We had only 10 cats then,' Ms Eva told The Straits Times. 'I was 13 when I pestered her into fostering some cats. Eventually, it became her pet project,' Ms Eva said of her mother. 'We moved to a much bigger place in North Bridge Road in 2020 and at one point, we even helped rescue 40 cats from a hoarder. We managed to find homes for 25 of them. A few of those cats are still with us,' she added. Top stories Swipe. Select. Stay informed. Singapore 1 in 3 vapes here laced with etomidate; MOH working with MHA to list it as illegal drug: Ong Ye Kung Singapore HSA extends hotline hours, launches new platform to report vaping offences Singapore Tampines regional centre set to get more homes, offices and public amenities Multimedia How to make the most out of small homes in Singapore World Diplomats dismissed: Inside the overhaul reshaping Trump's foreign policy Life US tech CEO Andy Byron resigns after viral Coldplay 'kiss cam' video Opinion I thought I was a 'chill' parent. Then came P1 registration Singapore 'God and government are the only things beyond our control,' says Group CEO Her mother used to run a boarding place for cats but called it quits after 'some owners stopped paying for the food and board, or simply became uncontactable when it was time for the cats to go home', according to Ms Eva, who previously worked for charities. 'The boarding provided income for the sanctuary. With that gone, we depend on donations from kind people and that makes up 30 per cent of our expenditure. The rest comes from our own pockets,' she said. Cats are allowed to roam the shelter, but those that are sick are confined in glass rooms. ST PHOTO: BRIAN TEO The largest portion of the expenses goes to veterinary care and food. On some months, the donations dipped so low that almost 90 per cent of the costs came out of their own pockets. Today, Little Katpaws houses a total of 30 cats. Ms Eva has capped the number at 40 to prevent overcrowding. She has also installed created rooms with glass doors to separate cats infected with feline immunodeficiency virus (FIV) or feline leukaemia virus (FeLV) so that the healthy ones are protected. FIV attacks a cat's immune system, leaving it vulnerable to infections. FeLV is a form of leukaemia that causes a variety of diseases as it invades cells in the immune system and blood-forming tissues. Segregating the sick kitties 'does not mean these cats do not get sun and exercise', Ms Eva said. Two of the 30 cats at the sanctuary. Operations manager Eva Helina Irman said many of the residents are ready for adoption. ST PHOTO: BRIAN TEO They are let out at different times of the day to roam some of the other rooms, which would be thoroughly cleaned after use. 'Cat shelters need to prioritise the well-being of their feline residents. Therefore, they need to provide adequate space, safe and clean environments, and proper healthcare,' she added. Currently, there are no common set of national guidelines to help shelters adopt best practices across the board. Ms Eva relies on what she has learnt online and through experiences to ensure her feline residents are 'happy, healthy and ready to be adopted'. 'Only when the new regulations come out will we see how we can tweak our current practices to ensure we toe the line,' she said.
