Singapore's population is 4.84m

June 17, 2009

Spore's population is 4.84m

By Diana Othman
		The number of residents, that is, Singapore citizens and permanent residents (PR), rose 1.7 per cent to 3.64 million in June last year, said a report released by the National Population Secretariat (NPS) on Wednesday. -- PHOTO: TNP

SINGAPORE'S population grew 5.5 per cent last year to reach 4.84 million, due largely to the influx of foreigners.

The number of residents, that is, Singapore citizens and permanent residents (PR), rose 1.7 per cent to 3.64 million in June last year, said a report released by the National Population Secretariat (NPS) on Wednesday.

There were 79,167 new PRs in 2008 - up 15, 540 from 63,627 the previous year and 20,513 new citizens, an increase of 3,179 from 17,334 over the same period.

More than half of the new residents aged 20 and above had at least post-secondary education which shows that Singapore continues to attract talented foreigners.

With more foreigners settling in Singapore, NPS said it has become 'more important' to help them integrate.

NPS also said that Singapore continues to face the long-term demographic challenge of low fertility and ageing population.

Singapore's total feritility rate of 1.28 in 2008 remained below the replacement level of 2.1.

The proportion of residents aged 65 years and above also continues to increase to 8.7 per cent last year from 6.8 per cent in 1998.

These trends underscore the need to 'continue working on long-term strategies to build a sustainable population, in spite of the economic downturn', added NPS.

NPS also continues to engage thousands of Singaporeans who are overseas for work and studies through its Overseas Singaporean Unit to help them stay connected with home. As of June last year, there were more than 180,000 Singaporeans overseas.

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More large firms bankrupt

June 17, 2009

More large firms bankrupt

The largest Chapter 11 bankruptcy case so far this year is that of General Motors Corp (left), which filed for creditor protection on June 1, with assets of more than US$91 billion. -- PHOTO: AP

NEW YORK - LARGE US corporate bankruptcies have accelerated in recent weeks as the US economic slowdown claims more victims, according to industry data.

Eight public companies with assets of more than US$1 billion (S$1.46 billion) have filed for bankruptcy protection in the last four weeks, compared with five multibillion-dollar company bankruptcies in the prior four-week period, according to data compiled by BankruptcyData.com and reviewed by Reuters.

MORE TO COME MR Hamilton of Sageworks said he expects to see more bankruptcies for companies in the auto or real estate industries. 'We all know the automakers are having great difficulty, but if you're producing parts for the automakers you're also having difficulties,' said Mr Hamilton, adding that 'anything around real estate is probably going to have difficulty for the latter part of 2009.' -- REUTERS ... more

That is the largest number of multibillion-dollar public company bankruptcies in a four-week period since the year began, according to the data.

BankruptcyData.com tracks companies that have some form of publicly traded security such as stocks or bonds.

'Corporate revenue is down in the United States and when topline revenue is down, there's less money to spread through expenses,' said Brian Hamilton, co-founder and chief executive officer of financial information company Sageworks Inc.

The last few weeks have brought filings from long-term lodging facility operator Extended Stay Inc, which had assets of US$7.13 billion before its bankruptcy, and theme park operator Six Flags Inc, which had assets of about US$3.03 billion.

The largest Chapter 11 bankruptcy case so far this year is that of General Motors Corp, which filed for creditor protection on June 1, with assets of more than US$91 billion.

The widespread credit crunch and economic slowdown have taken such a toll on corporations and individuals that bankruptcy courts are struggling to manage the load.

Barbara Lynn, chair of the bankruptcy committee of the Judicial Conference of the United States, recommended at a congressional hearing that Congress authorize 13 new permanent bankruptcy judgeships and make 22 temporary bankruptcy judgeships permanent.

'In the 12-month period ending March 31, 2009, there were approximately 1.2 million bankruptcy petitions filed -- nearly double the number of petitions filed in 2006,' Ms Lynn said. -- REUTERS

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