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Singapore-Top Indian origin engineer dies

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Singapore: A top Indian origin engineer died at the age of 94. He was a great asset in the development of Port of Singapore Authority and the Changi airport. Moreover, his journey of life was about to get published through the book, Engineered For Success. A Vjiaratnam died yesterday.

Mr Vjiaratnam was born in 1921 in the northern Ipoh city of Peninsular Malaysia. He later moved to Singapore and went on to study civil engineering at Brighton College of Technology in Britain on government scholarship in 1950.

On return from Britain, he joined the then Public Works Department and played a key role in the formation of the Port of Singapore Authority in 1964. He also played an important role in developing Changi Airport.

Mr Vijiaratnam also played an important role in the port’s containerization programme, among other things, and rose to become its chief engineer.

He was also the first pro-chancellor of Nanyang Technological University, serving from 1992 to 2005.

Mr Vijiaratnam was the only Singaporean to represent the country in hockey, rugby, soccer and cricket. He played for about a decade from 1946.

He was part of the national hockey team that went to the 1956 Melbourne Olympics. He was also chairman of a local newspaper, Tamil Murasu for 10 years from 1995.

A chartered engineer, he became the first Asian to serve as vice-president of the Britain-based Institution of Structural Engineers.

Singapore National Olympic Council vice-president Tan Eng Liang, a water polo player who also went to the 1956 Olympics – said: “Vijiaratnam was exceptional in being able to play four sports at a high level, and that athletes today could learn from him. He was a role model in the way he was able to juggle both sports and a successful career.(IANS)(Image-wikipedia0

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Automotive Industry To Benefit From Corporate Tax Cut, Says ICRA

India's automotive industry is likely to be one of the key beneficiaries of the recent corporate tax cut, credit ratings agency ICRA said on Monday

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India, Tax cut, Automotive Industry
India's automotive industry is likely to be one of the key beneficiaries of the recent corporate tax cut. Wikimedia Commons

India’s automotive industry is likely to be one of the key beneficiaries of the recent corporate tax cut, credit ratings agency ICRA said on Monday.

“Under the current weak demand conditions, OEMs (original equipment manufacturers) are expected to pass on some of the benefits of tax revision to the end consumers,” ICRA Vice President and Sector Head Pavethra Ponniah was quoted in a statement.

“This implies that the price correction in coming months will to an extent address the demand side issues. Moreover, clarity from the government, that there is no further GST or cess revision, will help consumers who were waiting for improved clarity prior to their car purchase decision,” she added.

According to ICRA, the current reduction of corporate tax rates in India to globally competitive levels will incentivise OEMs and their vendors to increase localisation, which augurs well for the industry.

In 2019-2020, India has imported auto components worth $17.6 billion.

India, Tax cut, Automotive Industry
the current reduction of corporate tax rates in India to globally competitive levels will incentivise OEMs and their vendors to increase localisation. Pixabay

ICRA also said that given the increasing US-China trade tensions, revision in corporate tax will attract FDI in Indian manufacturing sector, as the revised tax structure is now in line with other emerging markets.

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“In the current fiscal, the Indian automotive industry, especially the passenger vehicle segment, has witnessed one of the worst slides since the last two decades because of multiple factors,” the ratings agency said in a statement.

“Tighter financing environment for consumers and the liquidity crunch faced by dealerships coupled with weak farm income and overall slowdown in economic activity has impacted consumer sentiments and purchasing behaviour,” the statement added. (IANS)