Asian markets rise as Dow nears record high

HONG KONG: Asian markets climbed on Wednesday, with continuing weakness in the yen further fuelling a rally in Japan's Nikkei, while the Dow also provided some lift after ending at a near record high.

Traders are keeping an eye on the United States, where the Federal Reserve is due to end a two-day policy meeting, with analysts expecting it to carry on with its loose monetary policy.

Tokyo climbed 1.20 per cent, Hong Kong added 0.48 per cent, Sydney gained 0.23 per cent, Shanghai added 0.20 per cent and Seoul was flat.

The euro and dollar extended their gains against the yen in response to the Bank of Japan's pledge of unlimited easing last week and its target of two per cent inflation.

Investors took on board a comment from Japan's Finance Minister Taro Aso, who defending the country's easing policies against criticism from abroad, said the yen's "excessive strength is in correction".

A senior dealer at a major bank in Tokyo said: "The comment is nothing new so it can't push up the pair like a rocket anymore, but it still has some power left."

The dollar was changing hands at 90.95 yen in early Asian trade Wednesday against 90.72 yen in New York Tuesday afternoon.

The euro was at 122.67 yen and $1.3487 against 122.42 yen and $1.3493 in US trade.

On Wall Street the Dow rose 0.52 per cent to finish just 1.5 per cent below its all-time closing high seen in October 2007, despite a lack of buying incentives and a weaker-than-expected consumer confidence reading.

The S&P 500 advanced 0.51 per cent and the Nasdaq was flat.

US dealers are awaiting the outcome of the Fed's policy meeting later in the day, looking for new clues to the state of the economy. That will be followed on Friday by data on job creation.

Oil prices were down, with New York's main contract, light sweet crude for delivery in March dropping 12 cents to $97.45 a barrel and Brent North Sea crude for March delivery shedding five cents to $114.31.

Gold was at $1,664.00 at 0230 GMT compared with $1,661.10 late Tuesday.

- AFP/ck

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Harbhajan Singh to produce Punjabi movies

JALANDHAR: Cricketer Harbhajan Singh (Bhajji) has moved on to film production and would start with Punjabi movies. He revealed this on Tuesday and said that he has started a production house named " Bhajji and Madan Production" which would be producing two Punjabi films initially.

"Work on the first movie would start around April or May. We are doing a lot of spade work and we also plan to call in Bollywood actors," Bhajji said.

Harbhajan clarified that his role would be confined to being a producer only and he would not act in these films.

Bhajji, however, said that he will making guest appearances in the movies.

"You will see some important personalities in these films," he said, but refused to elaborate further.

He said that cast of for his first production has been decided and Sumeep Kang, who directed Punjabi movie "Carry on Jatta", would be the director.

Asked about cricket as his profession, he said that he would be concentrating on the game while a team would be looking after film production.

Bhajji had earlier sung a song with a social message on "mother".

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Jodi Arias Borrowed Gas Cans Before Killing Ex

Accused murderer Jodi Arias borrowed two five-gallon gas cans from a former boyfriend the day before she drove to Arizona to kill another ex, Travis Alexander, according to testimony in Arias' murder trial today.

In cross examination, prosecutors also forced Arias' former live-in boyfriend Darryl Brewer to describe his sex life with Arias as "pretty aggressive."

Brewer, 52, dated Arias for four years and shared a home with her in California for two years. He told the court today that Arias called him in May 2008, asking to borrow gas cans, but would not explain why. She called him again at least two more times, and arrived at his house on June 2008, to borrow the cans.

On the day she picked up the gas cans she told Brewer that she was going to visit friends in California and Arizona.

Prosecutors argue that Arias then drove to Mesa, Ariz., where she allegedly had sex with Alexander, took nude photos of him, and then stabbed him 27 times, slashed his throat, and shot him twice in the head. She is charged with murder and could face the death penalty if convicted.

Arias, who claims she killed Alexander in self defense, had approached prosecutors two years ago offering to plea to a second degree murder charge, which could carry a 25 year term, but the state rejected the offer, Nancy Grace reported on Good Morning America today.

Brewer said that Arias never returned the gas cans. The pair had been broken up two years earlier and they had only spoken "sporadically," he said.

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Prosecutors also showed receipts from Arias' trip from her California home to Alexander's home in Mesa, showing that she purchased a 10 gallons of gas at one gas station the night before she drove to Arizona, and then another 10 gallons from a different gas station 10 minutes later. Prosecutors are expected to argue she brought the gas with her to fill up her car secretly on the way to Alexander's home, showing premeditation for the murder.

Arias' attorneys called Brewer as one of their first witnesses as they began mounting their case that Arias killed Alexander in self defense, arguing that Alexander was controlling and abusive toward Arias.

They asked Brewer to explain how he and Arias had been in a stable relationship for four years, from 2002 to 2006, and had bought a home together before Arias met Alexander at a business conference and began to change.

"I saw a lot of changes in Jodi. She became a different person than I had known previously," Brewer said, describing how Arias' behavior changed in May 2006 when she joined a company called Pre-Paid Legal. There, she met Alexander and began seeing him. She continued to live with Brewer.

"She had continued to pay the mortgage, but she was not paying other household bills, she began getting into debt or financial trouble," Brewer said. "For me it seemed she was not as rational or logical."

Arias also converted to Mormonism while living with Brewer, telling him that he could no longer curse and she would no longer have sex with him because she was saving herself for marriage.

The pair had previously had an "enthusiastic" and "aggressive" sex life, Brewer admitted to prosecutors. They had engaged in anal sex, Arias had taken nude photos of Brewer, and Arias had purchased breast implants in 2006, he testified.

Brewer said that after Arias began to change, he made arrangements to move closer to his son from his first marriage, and he and Arias broke up.

They kept in touch with occasional phone calls until Arias asked to borrow the gas cans in June 2008, and then called him a week after borrowing the cans to say that her friend had been killed.

Martinez, reading notes from an interview Brewer gave to authorities during the investigation into Alexander's death, asked if Arias had ever mentioned needing an "alibi." Brewer said he did not recall any conversation about alibis.

"After this date of June 4, 2008," Martinez asked, "you received a call from Jodi Arias, and she was very agitated?"

"She was sad," Brewer said.

"Did she tell you that her friend had been killed and she did not have an alibi?"

"I don't remember that," Brewer said.

Arias was arrested a month after Alexander was found dead, in July 2008.

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Sixty-five people executed in Syria's Aleppo: activists

BEIRUT (Reuters) - At least 65 people were found shot dead with their hands bound in the northern Syrian city of Aleppo on Tuesday in a "new massacre" in the near two-year revolt against President Bashar al-Assad, activists said.

Opposition campaigners blamed the government but it was impossible to confirm who was responsible. Assad's forces and rebels have been battling in Syria's commercial hub since July and both have been accused of carrying out summary executions.

U.N.-Arab League mediator Lakhdar Brahimi told the U.N. Security Council "unprecedented levels of horror" had been reached in Syria, and that both the government and rebels had committed atrocious crimes, diplomats said.

He appealed to the 15-nation council to overcome its deadlock and take action to help end the civil war in which Syria is "breaking up before everyone's eyes".

More than 60,000 people are estimated to have been killed in the war, the longest and deadliest of the revolts that began throughout the Arab world two years ago.

The U.N. refugee agency said the fighting had forced more than 700,000 people to flee. World powers fear the conflict could envelop Syria's neighbors including Lebanon, Jordan and Turkey, further destabilizing an already explosive region.

Opposition activists posted a video of at least 51 muddied male bodies alongside what they said was the Queiq River in Aleppo's rebel-held Bustan al-Qasr neighborhood.

The bodies had what looked like bullet wounds in their heads and some of the victims appeared to be young, possibly teenagers, dressed in jeans, shirts and trainers.

Aleppo-based opposition activists who asked not to be named for security reasons blamed pro-Assad militia fighters.

They said the men had been executed and dumped in the river before floating downstream into the rebel area. State media did not mention the incident.

The British-based Syrian Observatory for Human Rights, which says it provides objective information about casualties on both sides of Syria's war from a network of monitors, said the footage was evidence of a new massacre and the death toll could rise as high as 80.

"They were killed only because they are Muslims," said a bearded man in another video said to have been filmed in central Bustan al-Qasr after the bodies were removed from the river. A pickup truck with a pile of corpses was parked behind him.

STALEMATE

It is hard for Reuters to verify such reports from inside Syria because of restrictions on independent media.

Rebels are stuck in a stalemate with government forces in Aleppo - Syria's most populous city which is divided roughly in half between the two sides.

The revolt started as a peaceful protest movement against more than four decades of rule by Assad and his family, but turned into an armed rebellion after a government crackdown.

About 712,000 Syrian refugees have registered in other countries in the region or are awaiting processing as of Tuesday, the U.N. refugee agency said.

"We have seen an unrelenting flow of refugees across all borders. We are running double shifts to register people," Sybella Wilkes, spokeswoman for the U.N. High Commissioner for Refugees (UNHCR), told Reuters in Geneva.

The United Nations said it had received aid promises ahead of a donor conference in Kuwait on Wednesday where it is seeking $1.5 billion for refugees and people inside Syria. Washington announced an additional $155 million that its said brought the total U.S. humanitarian aid to the crisis to some $365 million.

Aid group Médecins Sans Frontières said the bulk of the current aid was going to government-controlled areas in Syria and called on donors to make sure they were even-handed.

MISSILES

In the eastern city of Deir al-Zor, insurgents including al Qaeda-linked Islamists captured a security agency after days of heavy fighting, according to an activist.

Some of the fighters were shown carrying a black flag with the Islamic declaration of faith and the name of the al-Nusra Front, which has ties to al Qaeda in neighboring Iraq.

The war has become heavily sectarian, with rebels who mostly come from the Sunni Muslim majority fighting an army whose top generals are mostly from Assad's Alawite sect, an offshoot of Shi'ite Islam. Assad has framed the revolt as a foreign-backed conspiracy and blames the West and Sunni Gulf states.

Fighting also took place in the northern town of Ras al-Ain, on the border with Turkey, between rebels and Kurdish militants, the Observatory said.

In Turkey, a second pair of Patriot missile batteries being sent by NATO countries are now operational, a German security official said.

The United States, Germany and the Netherlands each committed to sending two batteries and up to 400 soldiers to operate them after Ankara asked for help to bolster its air defenses against possible missile attack from Syria.

(Additional reporting by Sylvia Westall in Kuwait, Sabine Siebold in Berlin and Stephanie Nebehay in Geneva; Editing by Andrew Heavens and Robin Pomeroy)

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HDB offers 3,346 new flats under 6 BTO projects

SINGAPORE: The HDB has launched six Build-To-Order (BTO) projects where there will be a total of 3,346 new flats in three non-mature towns - Choa Chu Kang, Hougang and Yishun - and three mature towns - Ang Mo Kio, Kallang Whampoa and Tampines.

This is the first tranche of the 23,000 BTO flats which HDB has planned for 2013.

Eligible first-timer households can enjoy up to S$60,000 of housing grants comprising additional CPF housing grant (S$40,000) and special CPF housing grant (S$20,000).

HDB said with these grants included, 3-room flats will be priced from as low as S$105,000 and 4-room flats from S$214,000.

Priority allocation will be given to first-timer married couples with children under the Parenthood Priority Scheme as announced on 21 January.

HDB will set aside a fixed quota for the BTO and Sales of Balance Flats Sales Exercises for first-timer married couples with a child aged below 16 years old.

For BTO it'll be 30 per cent of flat supply and for SBF it'll be 50 per cent.

Applications for new flats can be submitted online from Tuesday to 4 February.

HDB added that the next batch of BTO flats will be launched in March 2013 where a total of 3,890 new flats will be offered in Bukit Batok, Punggol and Sengkang.

- CNA/ck

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Court adjourns Patiala gang rape case till Feb 4

PATIALA: Patiala court, on Monday, adjourned the Patiala gang rape and suicide case till February 4 after the defence lawyer sought the copy of a compact disc, allegedly containing statement of the victim.

"The CD was prepared by a cameraman of Samana and now police have made that a case property. We want to hear the exact wording of the girl," said Kundan Singh Nagra, counsel of the accused, after coming out of court. All five accused including Balwinder Singh, Gurprit Singh, Sandip Singh, Chinder Kaur and dismissed sub-inspector Nasib Singh were present in the court.

On November 13, 2012, Balwinder and Gurprit had allegedly kidnapped the minor girl from Badshahpr village, and repeatedly raped her at the tubewell room of Sandip Singh near Brahamanmajra village. Instead of taking any action, the cops had allegedly pressurized the family for compromise and had finally registered a rape case on November 27. But since the police did not arrest any accused, who continued to harass the victim, she consumed poison on December 26 and died in the evening.

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Soldier who lost 4 limbs has double-arm transplant

On Facebook, he describes himself as a "wounded warrior...very wounded."

Brendan Marrocco was the first soldier to survive losing all four limbs in the Iraq War, and doctors revealed Monday that he's received a double-arm transplant.

Those new arms "already move a little," he tweeted a month after the operation.

Marrocco, a 26-year-old New Yorker, was injured by a roadside bomb in 2009. He had the transplant Dec. 18 at Johns Hopkins Hospital in Baltimore, his father said Monday.

Alex Marrocco said his son does not want to talk with reporters until a news conference Tuesday at the hospital, but the younger Marrocco has repeatedly mentioned the transplant on Twitter and posted photos.

"Ohh yeah today has been one month since my surgery and they already move a little," Brendan Marrocco tweeted Jan. 18.

Responding to a tweet from NASCAR driver Brad Keselowski, he wrote: "dude I can't tell you how exciting this is for me. I feel like I finally get to start over."

The infantryman also received bone marrow from the same dead donor who supplied his new arms. That novel approach is aimed at helping his body accept the new limbs with minimal medication to prevent rejection.

The military sponsors operations like these to help wounded troops. About 300 have lost arms or hands in Iraq or Afghanistan.

Unlike a life-saving heart or liver transplant, limb transplants are aimed at improving quality of life, not extending it. Quality of life is a key concern for people missing arms and hands — prosthetics for those limbs are not as advanced as those for feet and legs.

"He was the first quad amputee to survive," and there have been four others since then, Alex Marrocco said.

The Marroccos want to thank the donor's family for "making a selfless decision ... making a difference in Brendan's life," the father said.

Brendan Marrocco has been in public many times. During a July 4 visit last year to the Sept. 11 Memorial with other disabled soldiers, he said he had no regrets about his military service.

"I wouldn't change it in any way. ... I feel great. I'm still the same person," he said.

The 13-hour operation was led by Dr. W.P. Andrew Lee, plastic surgery chief at Johns Hopkins. It was the seventh double-hand or double-arm transplant done in the United States.

Lee led three of those earlier operations when he worked at the University of Pittsburgh, including the only above-elbow transplant that had been done at the time, in 2010.

Marrocco's "was the most complicated one" so far, Lee said in an interview Monday. It will take more than a year to know how fully Marrocco will be able to use the new arms.

"The maximum speed is an inch a month for nerve regeneration," he explained. "We're easily looking at a couple years" until the full extent of recovery is known.

While at Pittsburgh, Lee pioneered the immune-suppression approach used for Marrocco. The surgeon led hand-transplant operations on five patients, giving them marrow from their donors in addition to the new limbs. All five recipients have done well, and four have been able to take just one anti-rejection drug instead of combination treatments most transplant patients receive.

Minimizing anti-rejection drugs is important because they have side effects and raise the risk of cancer over the long term. Those risks have limited the willingness of surgeons and patients to do more hand, arm and even face transplants.

Lee has received funding for his work from AFIRM, the Armed Forces Institute of Regenerative Medicine, a cooperative research network of top hospitals and universities around the country that the government formed about five years ago. With government money, he and several other plastic surgeons around the country are preparing to do more face transplants, possibly using the new immune-suppression approach.

Marrocco expects to spend three to four months at Hopkins, then return to a military hospital to continue physical therapy, his father said. Before the operation, he had been fitted with prosthetic legs and had learned to walk on his own.

He had been living with his older brother in a specially equipped home on New York's Staten Island that had been built with the help of several charities. Shortly after moving in, he said it was "a relief to not have to rely on other people so much."

The home was heavily damaged by Superstorm Sandy last fall.

Despite being in a lot of pain for some time after the operation, Marrocco showed a sense of humor, his father said. He had a hoarse voice from the tube that was in his throat during the long surgery and decided he sounded like Al Pacino. He soon started doing movie lines.

"He was making the nurses laugh," Alex Marrocco said.

___

Associated Press Writer Stephanie Nano in New York contributed to this report.

___

Online:

Army regenerative medicine:

http://www.afirm.mil/index.cfm?pageid=home

and http://www.afirm.mil/assets/documents/annual_report_2011.pdf

___

Follow Marilynn Marchione at http://twitter.com/MMarchioneAP .

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US Mom Missing in Turkey Took Side Trips

Sarai Sierra, the New York mother who disappeared in Turkey while on a solo trip, took several side excursions out of the country, but stayed in contact with her family the entire time, a family friend told ABC News.

Turkish media reported today that police were trying to establish why Sierra visited Amsterdam and Munich. Police were also trying to establish the identity of a man Sierra, 33, was chatting with on the Internet, according to local media.

Rachel Norman, a family friend, said the man was a group tour guide from the Netherlands and said Sierra stayed in regular touch with her family in New York.

Steven Sierra, Sarai's husband, and David Jimenez, her brother, arrived in Istanbul today to aid in the search.

The men have been in contact with officials from the U.S. consulate in the country and plan to meet with them as soon as they open on Tuesday, Norman said.

After that, she said Sierra and Jimenez would meet with Turkish officials to discuss plans and search efforts.

Family of Sarai Sierra|AP Photo

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Sarai Sierra was supposed to fly back to the United States on Jan. 22, but she never showed up for her flight home.

Her two boys, ages 11 and 9, have not been told their mother is missing.

Sierra, an avid photographer, left New York on Jan. 7. It was her first overseas trip, and she decided to go ahead after a friend had to cancel, her family said.

"It was her first time outside of the United States, and every day while she was there she pretty much kept in contact with us, letting us know what she was up to, where she was going, whether it be through texting or whether it be through video chat, she was touching base with us," Steven Sierra told ABC News before he departed for Istanbul.

But when it came time to pick her up from Newark Liberty International Airport in New Jersey, Sierra wasn't on board her scheduled flight.

Steven Sierra called United Airlines and was told his wife had never boarded the flight home.

Further investigation revealed she had left her passport, clothes, phone chargers and medical cards in her room at a hostel in Beyoglu, Turkey, he said.

The family is suspicious and said it is completely out of character for the happily married mother, who met her husband in church youth group, to disappear.

The U.S. Embassy in Turkey and the Turkish National Police are involved in the investigation, WABC-TV reported.

"They've been keeping us posted, from my understanding they've been looking into hospitals and sending out word to police stations over there," Steven Sierra said. "Maybe she's, you know, locked up, so they are doing what they can."

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French seal off Mali's Timbuktu, rebels torch library

GAO, Mali (Reuters) - French and Malian troops retook control of Timbuktu, a UNESCO World Heritage site, on Monday after Islamist rebel occupiers fled the ancient Sahara trading town and torched several buildings, including a library holding priceless manuscripts.

The United States and the European Union are backing a French-led intervention in Mali against al Qaeda-allied militants they fear could use the West African state's desert north as a springboard for international attacks.

The recovery of Timbuktu followed the swift capture by French and Malian forces at the weekend of Gao, another major town in Mali's north that had been occupied by the alliance of jihadist groups since last year.

The two-week-old mission by France in its former Sahel colony, at the request of Mali's government, has driven the Islamist rebels northwards out of towns into the desert and mountains.

Without a shot being fired, 1,000 French soldiers and paratroopers and 200 Malian troops seized Timbuktu airport and surrounded the town on the banks of the Niger River, looking to block the escape of insurgents.

In both Timbuktu and Gao, cheering crowds turned out to welcome the French and Malian troops.

A third town in Mali's vast desert north, Kidal, had remained in Islamist militant hands. But Malian Tuareg MNLA rebels, who are seeking autonomy for their northern region, said on Monday they had taken charge in Kidal after Islamist fighters abandoned it.

A diplomat in Bamako confirmed the MNLA takeover of Kidal.

A French military spokesman said the assault forces at Timbuktu were avoiding any fighting inside the city to protect the cultural treasures, mosques and religious shrines in what is considered a seat of Islamic learning.

But Timbuktu Mayor Ousmane Halle told Reuters departing Islamist gunmen had four days earlier set fire to the town's new Ahmed Baba Institute, which contained thousands of manuscripts.

UNESCO spokesman Roni Amelan said the Paris-based U.N. cultural agency was "horrified" by the news of the fire, but was awaiting a full assessment of the damage.

Ali Baba, a worker at the Ahmed Baba Institute, told Sky News in Timbuktu more than 3,000 manuscripts had been destroyed. "They are bandits. They have burned some manuscripts and also stole a lot of manuscripts which they took with them," he said.

Marie Rodet, an African history lecturer at Britain's School of Oriental and African Studies, said Timbuktu held one of the greatest libraries of Islamic manuscripts in the world.

"It's pure retaliation. They (the Islamist militant rebels) knew they were losing the battle and they hit where it really hurts," Rodet told Reuters. "These people are not interested in any intellectual debate. They are anti-intellectual."

ISLAMISTS "ALL FLED"

The Ahmed Baba Institute, one of several libraries and collections in Timbuktu containing fragile documents dating back to the 13th century, is named after a Timbuktu-born contemporary of William Shakespeare and houses more than 20,000 scholarly manuscripts. Some were stored in underground vaults.

The French and Malians have encountered no resistance so far in Timbuktu. But they will now have to comb through a labyrinth of ancient mosques, monuments, mud-brick homes and narrow alleyways to flush out any hiding fighters.

The Islamist forces comprise a loose alliance that groups Al Qaeda in the Islamic Maghreb (AQIM) with Malian Islamist group Ansar Dine and AQIM splinter MUJWA.

They have retreated in the face of relentless French air strikes and superior firepower and are believed to be sheltering in the rugged Adrar des Ifoghas mountain range, north of Kidal.

The MNLA Tuareg rebels who say they now hold Kidal have offered to help the French-led offensive against the al Qaeda-affiliated Islamists. It was not clear, however, whether the French and Malians would steer their offensive further towards Kidal, or hold negotiations with the MNLA.

FRANCE: MALI "BEING LIBERATED"

The world was shocked by Timbuktu's capture in April by Tuareg fighters, whose separatist rebellion was later hijacked by Islamist radicals who imposed severe sharia (Islamic law).

Provoking international outrage, the Muslim militants - who follow a more radical Salafist brand of Islam - destroyed dozens of ancient shrines in Timbuktu sacred to Sufi Muslims, condemning them as idolatrous and un-Islamic.

They also imposed a strict form of Islamic law, or sharia, authorizing the stoning of adulterers and amputations for thieves, while forcing women to go veiled.

On Sunday, many women among the thousands of Gao residents who came out to celebrate the rebels' expulsion made a point of going unveiled. Other residents smoked cigarettes and played music to flout the bans previously imposed by the rebels.

Hundreds of troops from Niger and Chad have been brought to Gao to help secure the town.

"Little by little, Mali is being liberated," French Foreign Minister Laurent Fabius told France 2 television.

Speaking at a news conference in Paris, French President Francois Hollande said French troops would take a step back once the job of retaking key towns was complete, and Malian and other African troops would take over the task of hunting the rebels.

"They are the ones who will go into the northern part, which we know is the most difficult because that's where the terrorists are hiding," Hollande said.

As the French and Malian troops thrust into northern Mali, African troops for a U.N.-backed continental intervention force for Mali, expected to number 7,700, are being flown into the country, despite severe delays and logistical problems.

Outgoing African Union Chairman President Thomas Boni Yayi of Benin scolded AU states at a weekend summit in Addis Ababa for their slow response to assist Mali while former colonial power France took the lead in the military operation.

Burkina Faso, Benin, Nigeria, Senegal, Togo, Niger and Chad are providing soldiers for the AFISMA force. Burundi and other nations have pledged to contribute.

AU Peace and Security Commissioner Ramtane Lamamra said these regional troops could play a useful "clean-up" role once the main military operations against the Islamist rebels end.

Speaking in Addis Ababa on Monday, U.N. Secretary-General Ban Ki-moon said the U.N. was "actively considering" helping the troop-contributing African countries with logistical support.

(Additional reporting by Richard Valdmanis in Sevare, Mali, Bate Felix and David Lewis in Dakar, Maria Golovina in London, Alexandria Sage, Vicky Buffery and Emmanuel Jarry in Paris, Tiemoko Diallo in Bamako, Abdoulaye Massalatchi in Niamey, Richard Lough and Aaron Masho in Addis Ababa; Writing by Pascal Fletcher; Editing by Andrew Heavens)

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Govt to tighten law to better protect timeshare consumers

SINGAPORE: The government is tightening safeguards and plugging loopholes in the law to better protect consumers in timeshare deals.

The Ministry of Trade and Industry (MTI) said on Monday that it is making the changes because timeshare businesses continue to account for the most number of consumer complaints.

The number of timeshare cases totalled 389 in 2010 and 358 in 2011, according to the Consumers Association of Singapore.

MTI said an increasing number of businesses has moved from selling conventional timeshare -- which is the right to use a timeshare accommodation for a specified period -- to selling holiday club memberships.

These club memberships involve an advance payment for the right to obtain holiday benefits, such as discounted accommodation and airfares.

MTI said such holiday clubs essentially offer a similar product to timeshare, but they are not subject to the cooling-off period under the law as they do not fall under the current definition of "regulated contract".

Consumers are not given the opportunity to assess whether a holiday club can offer the purported discounts.

There is also a lack of transparency about important features in timeshare and holiday club contracts, including the rights of the consumer and the obligations of the timeshare seller.

Thus MTI is proposing changes to the Consumer Protection (Fair Trading) (Cancellation of Contracts) Regulations.

A key change is in the definition of "regulated contract". This will be expanded to include "long-term holiday product contracts" to close the current loophole where certain timeshare operators deliberately modify their business model to escape the requirements under the law.

This will also give consumers of holiday clubs the same protection as timeshare contracts, such as a five-day cooling-off period.

No money is to be collected during the cooling-off period. MTI said this will increase the protection and reduce the incentives for errant businesses to force a sale.

It will also remove the risk of losing, as well as the inconvenience of recovering the money paid, when consumers decide to cancel the deal during the cooling-off period.

MTI wants to hear from the public and welcomes feedback and views over the next five weeks till March 1.

- CNA/al

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