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Monday 18 February 2013

Singapore police to webcam users: Keep your clothes on; it"s a scam

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Alex Johnson
, NBC News
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1 hr.

Police in Singapore have warned men to be more careful regarding to whom they talk using webcams, reporting an alarming increase in the number of men who’ve been lured into nude conversations with “foreign” women, only to be blackmailed with video-chat recordings.

In terms of sheer numbers, the increase isn’t much — from 11 incidents in 2011 to more than 50 last year — but it suggests a burgeoning scam that could ensnare many more men in the future, the national police force said in a bulletin that was first reported by Singapore’s Straits Times newspaper.

Police singled out Facebook and Tagged as especially popular vehicles for the extortion scheme, in which “female foreign suspects … would commence a webcam conversation with the victims and initiate cybersex by undressing themselves first before persuading the male victims to appear nude or perform sexual acts in front of the webcams.”

“Unknown to the victims, the suspects had recorded the acts,” police said. “These suspects would then threaten to circulate compromising photographs and videos of the victims to extort money from them.”

The spike in cases was first noted halfway through last year, leading Crimewatch, a joint program of the national police and the National Crime Prevention Council, to “re-create” the scam in a (safe for work but entertainingly cheesy) video in June.

Graham Cluley, a consultant with the Internet security firm Sophos, reported the bulletin Monday on the company’s appropriately named Naked Security blog and warned of another potential hazard:

You can imagine how a man, believing he is being seduced online by a sexy woman, might be all too eager to click on a link she suggests or run a malicious program on his computer. Before he knows it, his computer could be under the control of a hacker.

Police offered these tips to keep your money in your wallet:

Be wary of messages from unknown people who want to befriend you.
Do not accede to any request that may put you in vulnerable positions, such as performing compromising acts in front of the webcam, or giving personal details about yourself when interacting with other internet users.
If anyone attempts to extort money from you or should you become a victim of such an attempt, call the police immediately.
Do not remit or transfer money.

Follow M. Alex Johnson on Twitter and Facebook.

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Singapore police to webcam users: Keep your clothes on; it"s a scam

Spotlight on Singapore"s IPO market ahead of Mapletree launch

Video

Spotlight on Singapore’s IPO market ahead of Mapletree launch

SINGAPORE: The spotlight is on Singapore’s IPO market with Mapletree planning to launch a mega-deal on the Singapore Exchange.

As more companies try to tap funds from Singapore’s market, analysts warn that risks are still abound.

They also note that REITs with assets based in Singapore are more in favour.

Following a dismal 2012, hopes are high that a successful offering by the Mapletree Greater China Commercial Trust will restore interest in Singapore’s IPO market.

The REIT is expected to raise S$1.7 billion, and will be the Singapore bourse’s largest IPO in two years.

Singapore regulations stipulate that 90 per cent of profits from REITs must be distributed as dividends, making them a popular choice among investors.

And the response to this proposed listing is likely to be positive.

Robson Lee, Partner at Shooklin Bok, said: “Singapore REITs typically provide a yield of 6 to 7 per cent, and is considered a safe harbour investment. This particular REIT IPO has strong cornerstone investors in the form of Morgan Stanley, AIA Group. I would think the take-up rate would be very good because of the cornerstone investors.”

In 2012, there were 19 new listings on the SGX that collectively raised about S$3.2 billion in proceeds. Deloitte Singapore expects 20 to 30 new listings on the SGX this year.

Singapore’s stock market has had a bullish run in the past three months and some market watchers are optimistic about the growth of Singapore’s listing market for 2013.

But some caution that the worsening recession in the Eurozone and a potential global currency war could signal a correction in the markets, which would dampen investors’ confidence.

Daryl Liew, Head of Portfolio Management at Reyl Singapore, said: “When we look at other similar China REITS that have come to market, broadly speaking, many are still trading below the IPO price, those that have listed over the last two to three years. So on that note, some investors are concerned about REITS that have foreign assets because most of those REITS have struggled to do quite well.”

At the end of the day, experts say strong fundamentals and good prospects and sound management still underpin the success of any listing.

- CNA/de

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Spotlight on Singapore"s IPO market ahead of Mapletree launch

China takes over Pakistan port from Singapore

ISLAMABAD: China took control on Monday of a strategic Pakistani port on the Arabian Sea, as part of a drive to secure energy and maritime routes that also gives it a potential naval base, sparking Indian concern. The Pakistani cabinet approved the transfer of Gwadar, currently a commercial failure cut off from the national road network, from Singapore’s PSA International to the state-owned China company on January 30.

It had not been clear when the actual handover would take place, but Pakistani President Asif Ali Zardari presided over the signing of a memorandum of understanding on Monday that was broadcast live by local television.

“The contract of operation of Gwadar port is formally given to China. Today, the agreement is transferred from the Port of Singapore Authority to China Overseas Ports Holding Company Limited,” Zardari announced.

“The award of this contract opens new opportunities for our people… It gives new impetus to Pakistan-China relations.”

The Pakistanis pitched the deal as offering an energy and trade corridor that would connect China to the Arabian Sea and Strait of Hormuz, a gateway for a third of the world’s traded oil, overland through an expanded Karakoram Highway.

Experts say it would cut thousands of kilometres off the distance which oil and gas imports from Africa and the Middle East have to travel to reach China.

“Gwadar port will enhance trade and commerce not only between Pakistan and China but also in the region,” said Zardari.

China paid about 75 per cent of the initial $250 million used to build the port but in 2007 PSA International won a 40-year operating lease.

Then-ruler Pervez Musharraf was reportedly unwilling to upset Washington by giving control of the port to the Chinese.

On February 6, defence minister A K Antony said in New Delhi was concerned by Pakistan’s decision to transfer management of the deep-sea port to China, which has interests in a string of other ports encircling India.

Pakistan foreign ministry spokesman Moazzam Ahmad Khan dismissed those concerns last week, telling reporters: “This is not something that any other country should have any reason to be concerned about.”

Gwadar is part of the southwestern province of Baluchistan, the most deprived part of Pakistan despite being rich in oil and gas deposits. The province is gripped by a separatist insurgency and record levels of sectarian violence.

On Saturday, a bomb killed 89 people in a Hazara Shiite Muslim neighbourhood of the provincial capital Quetta, barely a month after twin suicide bombers killed 92 people at a Hazara snooker hall elsewhere in the city.

Zardari said the building of infrastructure around the port will also promote economic activity in Gwadar and Baluchistan.

But some analysts warn that it may be some time before Pakistan can benefit from China’s takeover of Gwadar, stressing that the connecting roads and an expanded Karakoram Highway still need to be finished.

They also suggest that security concerns have made China more cautious about big investment projects in Pakistan.

In 2004, three Chinese engineers helping to build Gwadar were killed in a car bombing. The same year, two Chinese engineers working on a hydroelectric dam project in South Waziristan were kidnapped and one of them died.

Gwadar is the most westerly in a string of Chinese-funded ports in Nepal, Sri Lanka, Myanmar and potentially Bangladesh that encircle its big rival, India.

The ports were dubbed China’s “string of pearls” — or potential naval bases similar to those of the United States — but some analysts pour cold water on suggestions that Beijing is scouting for naval bases in the Indian Ocean.

Andrew Small, an expert on China-Pakistan relations, believes that most of Beijing’s concerns can be resolved through cooperation, but that Gwadar is the most likely port to be developed by China for naval use.

“Pakistan is probably the only government where the level of trust between the two militaries is high enough to make that a completely reliable prospect,” he said.

China takes over Pakistan port from Singapore

New contender joins the battle of the hotels

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The Sydney Morning Herald

NSW

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An artist’s impression of the Darling Harbour revamp. Photo: Supplied

THE owner of Australia’s largest hotel has proposed a radical expansion over the Western Distributor that would rival major redevelopments at Darling Harbour and Barangaroo.

The upmarket Four Points by Sheraton hotel on Sussex Street in central Sydney wants approval for a 25-storey tower holding 231 new rooms and office space, and a podium hosting functions and conferences. The $149 million expansion, with views over Darling Harbour, would be built over the freeway.

Architect Philip Cox, whose firm is behind the design, said its location and design elements trumped the “appalling” proposed revamp of Darling Harbour, which involves the demolition of the exhibition centre he designed.

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Drawing board … an artist’s impression of the revamped Four Points by Sheraton, with the podium over the Western Distributor. Photo: Supplied

It would meet a high demand for inner-city hotel rooms, convention facilities and office space, and “complement” a $1 billion overhaul of exhibition and convention facilities at Darling Harbour, the proposal stated.

It comes amid a flurry of activity in Sydney’s hotel scene, including James Packer’s plan for a luxury hotel and casino at Barangaroo, and upgrades at the Park Hyatt at the Rocks and the Darling at the Star casino. Lend Lease’s 900-room hotel at Darling Harbour is also in the works.

Four Points by Sheraton is owned by Singapore-based EP2 Management. At 672 rooms, it is reputedly Australia’s largest hotel. The proposed expansion would bring it to more than 900 rooms.

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The proposed Barangaroo development. Photo: Supplied

With a podium for conventions, exhibitions and functions, the project “will assist NSW in winning large group, corporate meeting, association and convention bids”, the proposal said.

Mr Cox, who staunchly opposes the exhibition centre’s demolition, said the plan had an “incredible advantage” over other proposed hotels.

“It’s fantastically situated … on the CBD side of Pyrmont Bridge. It’s got a better relationship with the city itself,” Mr Cox said.

He said the proposal “doesn’t bear comparison” with the Darling Harbour redevelopment, which he described as “appalling”.

“It takes [the site] another step forward in terms of its urban qualities and its environmental fit, whereas the other one is anything but,” he said.

The hotel is already built over Slip Street and partly extends over the freeway. In a submission, Roads and Maritime Services said it must endorse construction, design and materials used in the project to “ensure risk to public safety … is minimised”. The stability of the road should be monitored, it said.

An assessment of sun glare found the podium and tower could affect northbound drivers on the Western Distributor and other roads. This would be reduced by vertical louvres on the tower and the use of low-reflection materials.

The Sydney Harbour Foreshore Authority and the NSW Heritage Office warned of harm to the setting of nearby historic buildings, including the Corn Exchange and the Dundee Arms Hotel. The proposal includes heritage signs and other public domain works, such as “paving patterns to reflect building footprints of long since demolished buildings”.

High-profile tenants at the neighbouring Darling Park, such as the Commonwealth Bank, and Cockle Bay Wharf, raised concern about overshadowing and impacts during construction.

Measures such as a lower tower and a reduced footprint were rejected because they would not deliver “a viable and functional hotel”, the proposal said.

The hotel’s general manager, David Fraser, said the extra event space and hotel capacity “will be an ideal addition to the vibrant Darling Harbour precinct”.

Submissions are being reviewed. The proposal has been deemed state significant and will be considered by the planning department.