Middle & lower-income groups may be priced out of car market: dealers

SINGAPORE: Car dealers on Tuesday said middle and lower-income groups may find it difficult to own a vehicle with the new rules in place.

The government on Monday announced a slew of measures, tightening the noose on car loans and registration fees.

This has prompted strong reactions from the industry and prospective buyers.

Under Budget 2013 measures, buyers have a maximum of five years to service their car loans.

They also have to foot a downpayment of 40 per cent or more for a new vehicle.

To top it off, Additional Registration Fee increases will apply to more expensive cars.

This has sent buyers and the market reeling.

Carway Enterprise, which helps buyers borrow to buy cars, said loan applications dropped by 30 to 40 per cent a day after the measures were unveiled.

Other car dealers said more time is needed to see what the real effects are.

Eddie Loo, managing director of CarTimes Automobile, said: "We have a mixture of customers -- those who come and buy (with) cash, but there are definitely people who want a hundred percent loan.

"So it's almost like 50-50 kind of market that people come into. So to penalise those who need a car and have to fork out 50 per cent of the loan amount, I think, the timing is not very correct."

Prospective car buyers are also feeling the pinch.

John Molina, a prospective car buyer, said: "I want to buy a car, but because of this, I mean it's impossible for me, or it's almost near-impossible."

Another prospective car buyer, Mark Lim, said: "For those people who are really very rich, to them there's no effect -- today I want to buy a Ferrari, for example, I don't even care about how much is the downpayment."

Still, others have suggestions on how to ease the pinch.

Singapore Vehicle Traders Association's honorary secretary Raymond Tang said: "The government should consider looking into the aspect of weighing these loan curbs -- should not be bringing it into the used car market."

He said the used car market is for people whose "budget is very constrained".

Questions which prospective buyers will be asking in the months ahead are: "To buy or not to buy, and which model? Can I even afford a car?"

Eyes will also be keenly watching how the Budget measures will affect the prices of Certificates of Entitlement (COEs) for cars. This will in turn determine just how expensive owning a set of wheels in Singapore will be.

- CNA/al

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'Brave' nets Pixar its seventh Best Animated Feature Oscar

Pixar's 'Brave' won the studio's seventh Oscar for Best Animated Feature Sunday night.

(Credit:
Disney/Pixar)

Although it didn't earn the critical acclaim of "Toy Story 3," "Up," or "Ratatouille," Pixar's 2012 film "Brave" joined those three hits, as well as three other Pixar predecessors, in winning the Oscar for Best Animated Feature.

Beating out fellow nominees "Wreck-it Ralph," "Frankenweenie," "ParaNorman," and "The Pirates! Band of Misfits," "Brave" became the seventh Pixar film to nab the Oscar since the Academy of Motion Picture Arts & Sciences began awarding the honor in 2002. No other studio has won as often.

"Brave" followed the story of Princess Merida, the rebellious daughter of King Fergus and Queen Elinor, who desperately wants to seek out her own path in life. An expert archer, Merida flouts a cherished custom and chaos befalls the kingdom. In order to defeat the curse, she must be brave and utilize her archery skills.

Visual Effects

The other major technical Oscar, for Best Visual Effects, went to "Life of Pi." Beating out nominated competition from "The Hobbit," "Marvel's The Avengers," "Snow White and the Huntsman," and "Promethus," "Life of Pi" featured visual effects from the firm Rhythm & Hues. Unfortunately, reported The Independent, the effects firm declared bankruptcy just a few days ago.

'Life of Pi' won the Oscar for Best Visual Effects.

(Credit:
Fox)

"Life of Pi" also scored three other Oscars, including Best Director, for Ang Lee, and Cinematography, for Claudio Miranda.

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Addressing controversy, Menendez invokes words of MLK

Amid a handful of allegations that threaten to mar his reputation in the Senate, Sen. Bob Menendez, D-N.J., continues to maintain his innocence, decrying the accusations as right-wing attempts to "destroy" his career and invoking the words of Martin Luther King Jr. in asserting his faith that justice will win out.

Menendez, who was re-elected to his seat in November, has since been hit with allegations that he solicited prostitutes in the Dominican Republic, where prostitution is legal. The FBI is looking into the claims. The allegations were originally reported by a conservative website citing an anonymous source.

Menendez has also been accused of improperly lobbying the State Department on a port security contract on behalf of Dr. Salomon Melgen, a close friend and donor. Menendez recently reimbursed Melgen $58,000 for two of three trips he took on Melgen's plane to the Dominican Republic in 2010, but called the tardy reimbursement an honest oversight and says the allegations against him are "absolutely false." The Senate Ethics Committee is investigating Menendez regarding those trips. Melgen himself is the target of more than one federal investigation stemming from allegations of Medicare fraud.

This weekend, at an event celebrating Black History Month at Shiloh Baptist Church in Trenton, N.J., the senator answered the accusations with the words of Martin Luther King Jr.

"Dr. King said that 'the arc of the moral universe is long, but it bends toward justice,'" he said, according to the New Jersey Star-Ledger. "Now we face anonymous, faceless, nameless individuals from right-wing sources seeking to destroy a lifetime of work. And their scares are false. I have worked too hard and too long in the vineyards to allow, at my hands, for the harvest to be soured."

"I have felt the sting of discrimination," he said, according to the North Jersey Record.

Menendez said he believes ultimately, "justice will overcome the forces of darkness."

"I have my hand on the plough," he said, "and I am going to continue to look forward and to work to make that plough lead us to the fulfillment of educational, economic and health care opportunity in this country."

A recent Quinnipiac poll shows a recent drop in Menendez's popularity, with just 36 percent approving and 41 percent disapproving.

But the Democrat, who is at the start of another six-year term, brushed off the importance of those numbers.

"The only poll that matters is what do I get accomplished each and every day," he said, according to the Star-Ledger.

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Best Moments From the Academy Awards

Host Seth MacFarlane took the stage at the 2013 Oscars with an opening monologue revealing he was ready to poke fun at the star-studded audience.

"The quest to make Tommy Lee Jones laugh begins now," he said.

But it wasn't too long before MacFarlane was interrupted. William Shatner, dressed as his iconic character Captain Kirk from "Star Trek," descended on the stage to warn MacFarlane that he was about to ruin the Oscars and be branded the worst host ever.

"The show is a disaster. I've come back in time … to stop you from ruining the Academy Awards," Shatner said.

Seth MacFarlane's Boobs Tribute

Shatner tried to steer MacFarlane away from singing an "incredibly offensive song that upsets a lot of women in the audience."

Cue MacFarlane's medley "We Saw Your Boobs," a laundry list set to music of acclaimed actresses in Hollywood who all bared their breasts in film.

MacFarlane was joined by the Gay Men's Chorus of Los Angeles to call out Meryl Streep, Anne Hathaway, Naomi Watts, Jodie Foster, Hilary Swank and countless others who we've seen nude in film.

Not every joke funnyman Seth MacFarlane made landed with the A-list crowd at the 85th annual Academy Awards.

The host elicited gasps from the crowd when he introduced "Django Unchained" as "the story of a man fighting to get back his woman, who's been subjected to unthinkable violence. Or, as Chris Brown and Rihanna call it, a date movie."

Another joke that somehow earned a too-soon nod? A throw to President Abraham Lincoln's assassination.

"I'd argue that the actor who really got inside Lincoln's head was John Wilkes Booth," MacFarlane said.

MacFarlane's jab at Mel Gibson didn't land too smoothly either. MacFarlane said the N-word laden "Django Unchained" screenplay was "loosely based on Mel Gibson's voicemails."

Oscars' Movie Musical Tribute

The theme of the 85 annual Academy Awards was celebrating music in film, and the tributes to movie musicals didn't disappoint.

Featured performers included Catherine Zeta-Jones belting "All That Jazz" from 2002's Best Picture winner "Chicago," Jennifer Hudson's show-stopping "And I'm Telling You I'm Not Going" from 2006's "Dreamgirls," and the cast of this year's Best Picture nominee "Les Miserables" reuniting on stage for "One Day More."

Introducing the Von Trapp Family

To introduce Christopher Plummer to the stage to present the award for Best Supporting Actress, MacFarlane couldn't help but make a joke out of the actor's infamous role as Captain Von Trapp in "The Sound of Music."

MacFarlane came out to announce the Von Trapp family singers, but no one came out. Instead, a man dressed in a Nazi uniform ran in to tell him that they were gone.

Kristen Stewart Hobbles on Stage to Present

When Daniel Radcliffe took the stage to present the award for Achievement in Production Design, he was joined by his hobbling co-presenter Kristen Stewart, who was seen crutching along the red carpet during the pre-show.

The "Twilight" star's makeup artist told People magazine that the actress "cut the ball of her foot, quite severely, on glass two days ago."

The Associated Press reported that backstage, Best Supporting Actress winner Anne Hathaway told Stewart to "break a leg."

Jennifer Lawrence's Unstable Victory

Jennifer Lawrence was so shocked to take home the Oscar for Best Actress that she lost her footing on her way up to the stage to accept her award.

"You guys are just standing up because I fell and that's really embarrassing," she said to the audience.

Lawrence regained her composure to give her acceptance speech, extending a special thank you to "the women this year," who she called "so magnificent and so inspiring."

Daniel Day-Lewis a Three-Peat Best Actor Winner

It was a highly anticipated win for Daniel Day-Lewis, who took home the award for Best Actor for his portrayal of Abe Lincoln in Steven Spielberg's "Lincoln."

Lewis cracked a joke in his acceptance speech, saying he was supposed to be cast as Margaret Thatcher and presenter Meryl Streep was the first choice for Lincoln.

"Meryl Streep was Steven's first choice to play Lincoln… I'd like to see that version," Lewis said.

Michelle Obama Announces Best Picture Winner

In one of the biggest surprises of the night, the Academy brought out First Lady Michelle Obama to help Jack Nicholson introduce the nominees for Best Picture.

Rocking her new bangs and a silver gown, the first lady, live from the White House, announced "Argo" as this year's Best Picture.

"It was a thrill to announce the #Oscars2013 best picture winner from the @WhiteHouse! Congratulations Argo!" FLOTUS tweeted afterwards.

Ben Affleck Triumphs at Oscars

Ben Affleck was flabbergasted by his win for Best Picture for "Argo." His frenzied, heartfelt acceptance speech resonated as he thanked his wife, Jennifer Garner, and ended on an inspirational high note.

"I want to thank my wife, who I don't normally associate with Iran. I want to thank you for working on our marriage. It is work, but it is the best kind of work," he said.

"I was here 15 years ago or something and you know I had no idea what I was doing. I stood out here in front of you all, really just a kid. I went out and I never thought I'd be back here and I am because of so many of you who are here tonight …. I want to thank them for what they taught me, which is that you have to work harder than you think you possibly can, you can't hold grudges. It's hard, but you can't hold grudges. And it doesn't matter how you get knocked down in life because that's going to happen. All that matters is that you got to get up."

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Powers to offer Iran sanctions relief at nuclear talks

ALMATY (Reuters) - Major powers will offer Iran some sanctions relief during talks in Almaty, Kazakhstan, this week if Tehran agrees to curb its nuclear program, a U.S. official said on Monday.

But the Islamic Republic could face more economic pain if it fails to address international concerns about its atomic activities, the official said ahead of the February 26-27 meeting in the central Asian state, speaking on condition of anonymity.

"There will be continued sanctions enforcement ... there are other areas where pressure can be put," the official said, on the eve of the first round of negotiations between Iran and six world powers in eight months.

A spokesman for European Union foreign policy chief Catherine Ashton, who leads the talks with Iran on behalf of the powers, said Tehran should understand that there was an "urgent need to make concrete and tangible progress" in Kazakhstan.

Both Russia and the United States stressed there was not an unlimited amount of time to resolve a dispute that has raised fears of a new war in the Middle East.

"The window for a diplomatic solution simply cannot by definition remain open forever. But it is open today. It is open now," U.S. Secretary of State John Kerry told a news conference in London. "There is still time but there is only time if Iran makes the decision to come to the table and negotiate in good faith."

Russian Deputy Foreign Minister Sergei Ryabkov said there was "no more time to waste", Interfax news agency quoted him as saying in Almaty.

The immediate priority for the powers - the United States, Russia, China, Germany, Britain and France - is to convince Iran to halt its higher-grade enrichment, which is a relatively short technical step away from potential atom bomb material.

Iran, which has taken steps over the last year to expand its uranium enrichment activities in defiance of international demands to scale it back, wants a relaxation of increasingly harsh sanctions hurting its lifeline oil exports.

Western officials say the Almaty meeting is unlikely to produce any major breakthrough, in part because Iran's presidential election in June may make it difficult for it to make significant concessions before then for domestic reasons.

But they say they hope that Iran will take their proposals seriously and engage in negotiations to try to find a diplomatic settlement.

"No one is expecting to walk out of here with a deal but ... confidence building measures are important," one senior Western official said.

The stakes are high: Israel, assumed to be the Middle East's only nuclear-armed arsenal, has strongly hinted at possible military action to prevent its old foe from obtaining such arms. Iran has threatened to retaliate if attacked.

GOLD SANCTIONS RELIEF?

The U.S. official said the powers' updated offer to Iran - a modified version of one rejected by Iran in the unsuccessful talks last year - would take into account its recent nuclear advances but also take "some steps in the sanctions arena".

This would be aimed at addressing some of Iran's concerns, the official said, while making clear it would not meet Tehran's demand of an easing of all punitive steps against it.

"We think ... there will be some additional sanctions relief" in the powers' revised proposal," the official said, without giving details.

Western diplomats have told Reuters the six countries will offer to ease sanctions on trade in gold and precious metals if Iran closes its Fordow underground uranium enrichment plant.

Iran has indicated, however, that this will not be enough.

Tehran denies Western allegations it is seeking to develop the capability to make nuclear bombs, saying its program is entirely peaceful. It wants the powers to recognize what it sees as its right to refine uranium for peaceful purposes.

The U.S. official said the powers hoped that the Almaty meeting would lead to follow-up talks soon.

"We are ready to step up the pace of our meetings and our discussions," the official said, adding the United States would also be prepared to hold bilateral talks with Tehran if it was serious about it.

Ashton's spokesman, Michael Mann, said the updated offer to Iran was "balanced and a fair basis" for constructive talks.

(Additional reporting by Yeganeh Torbati and Dimitry Solovyov; Editing by Jon Hemming)

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Budget 2013: Govt projects budget surplus of S$2.4b for FY2013

SINGAPORE: A windfall from stamp duties and vehicle-related taxes will hand the government a bigger than budgeted surplus for fiscal year 2012.

However, the revenue growth is expected to slow this upcoming financial year.

The government is projecting an overall budget surplus of S$2.4 billion or 0.7% of GDP for FY2013 starting 1 April.

The government is expecting to post a higher-than-expected surplus of S$3.9 billion or 1.1 percent of Singapore's GDP for FY2012.

But the government is expecting to collect lower revenue for FY 2013.

It is forecasting operating revenue of S$55.03 billion, a 0.3 percent decrease from FY 2012.

However, Net Investment Returns Contribution (NIRC) is projected to increase 0.7% to S$7.7 billion, from S$7.65 billion the previous year.

The NIRC will be used to fund S$5.6 billion in top-ups to endowment and trust funds, including the GST Voucher Fund.

For the new financial year, corporate income tax will amount to S$12.94 billion, about 1.5 percent increase from the previous year.

Personal income tax will generate another S$7.56 billion in revenue, a decline of 1.2% after factoring in personal income tax rebates.

Revenue from "Other Taxes" is forecast to grow 19.8% to S$5.14 billion, attributed mainly to higher foreign worker levy collections.

And with the property market expected to cool, stamp duty collections are projected to fall 26.2% to S$3.1 billion in FY 2013.

A new tiered Additional Registration Fee structure will raise registration fees for cars with open market value of S$20,000 and above.

But a one-year 30% road tax rebate for goods vehicles, buses and taxis will reduce collections for motor vehicle taxes by 12.1% to S$1.6 billion from the revised FY2012 estimate.

Collections from vehicle quota premiums are expected to drop 11.8% to S$2.4 billion.

Collections from Betting Taxes are expected to remain flat, at S$2.3 billion.

The government also expects a 10.4% decrease in revenue from withholding tax, at about S$1.14 billion.

- CNA/ir

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Indigo brings Siri-like assistance to Android for free (Hands on video)

Indigo brings the functionality of the iPhone's Siri to Android and Windows Phone 8, letting you sync the account across all your devices.

(Credit:
Andrew Hoyle/CNET)

BARCELONA, Spain--Want to challenge Siri to schedule every aspect of your busy life but don't want an iPhone? Great news for you then as Artificial Solution's Indigo service brings similar functionality to Android, Windows Phone 8, and your Web browser. Better yet, it's completely free.

Indigo works in much the same way as Siri; ask it your question and it will use its various channels -- Web searches, a built-in catalog of commands, and, also like Siri, Wolfram Alpha information -- to perform the required task.

The usual requests of "What is the weather doing in Barcelona this week?" are handled perfectly well and it's also able to create appointments, open apps, and dictate and send e-mails or post statuses to your social networks of choice. Unlike Siri, though, Indigo is available across multiple platforms and also lets you use one account to sync across them all.

The benefit of this is that if you begin creating an appointment on your Windows Phone device then switch to your
Nexus 10 Android tablet, your previous requests will already be there waiting for you. You can then finish off your searches without going through all the previous stages. Just think of it like updating a document in Google Docs and loading it up on a different machine.

The app itself looks neat and simple and was mostly accurate at recognizing words, even with the excessive background noise of the Mobile World Congress crowd.

It's coming soon to the Windows Phone 8 and
Android app stores and will be available through your Web browser, too. Artificial Solutions also explained that it's working with "major TV manufacturers" to integrate it into their TV's smart functions, although didn't have concrete times as to when to expect it. I'd also like to see it come into
cars, letting you perform all your essential smartphone tasks without taking your eyes off the road -- Artificial Solutions didn't indicate that this is on the horizon as yet, though.

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NASCAR has some cleaning and explaining to do

DAYTONA BEACH, Fla .With the start of the Daytona 500 just hours away, NASCAR officials still have some cleaning up to do amid growing questions about fan safety.

The season opener will go off as planned Sunday less than 24 hours after at least 33 people were injured when a car flew into the fence during a NASCAR race at Daytona International Speedway, sending a tire and large pieces of debris sailing into the stands.

"Just seeing the carnage on the racetrack, it was truly unbelievable," driver Justin Allgaier said.

21 Photos

Daytona racecar loses control

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Fans injured in crash at Daytona

The final-lap accident Saturday marred the second-tier Nationwide Series race on the eve of a spectacle often called the Super Bowl of motorsports. Late into the night, track workers were scrambling to repair a huge section of fence that separates fans from the high-speed track.

Nathan Kimpel, 24, who works at a concession stand near where the crash happened, told CBS News correspondent Adriana Diaz that he saw 10 to 15 fans being carried out on stretchers.

"As soon as I saw the accident I just turned my head because I didn't want to get injured or anything," Kimpel told Diaz. "I saw the fence separate and more pieces of car parts flying up."

Meghan Willams, 20, who also works at a concession stand, told Diaz the crash sounded like an "earthquake." She saw people running and crying and a girl completely covered in engine oil.

Byron Cogdell, a spokesman for Halifax Health Medical Center, told CBS News that one of the 11 patents taken to the hospital was in critical condition and five more were listed as "trauma" patients.

Speedway President Joie Chitwood III has a news conference scheduled for Sunday morning to give the latest update on repairs and any safety changes that could be made before the "Great American Race."

The 12-car crash began about 200 feet from the start-finish line as the front-runners approached the checkered flag. Leader Regan Smith attempted to block Brad Keselowski for the win, triggering a horrific pileup that could have been much worse.

The front end of Larson's No. 32 car was sheared off, and his burning engine wedged through a gaping hole in the fence. Parts and pieces of his car sprayed into the stands, including a tire that cleared the top of the fence and landed midway up the spectator section closest to the track.

The 20-year-old Larson stood in shock a few feet from his car as fans in the stands waved frantically for help. Smoke from the burning engine briefly clouded the area, and emergency vehicles descended on the scene.

Ambulance sirens could be heard wailing behind the grandstands at a time the race winner would typically be doing celebratory burnouts.

"It was freaky. When I looked to my right, the accident happened," Rick Harpster of Orange Park said. "I looked over and I saw a tire fly straight over the fence into the stands, but after that I didn't see anything else. That was the worst thing I have seen, seeing that tire fly into the stands. I knew it was going to be severe."

Shannan Devine of Egg Harbor Township, N.J., was sitting about 250 feet from where the car smashed into the fence and could see plumes of smoke directly in front of her.

"I didn't know if there was a car on top of people. I didn't know what to think," she said. "I'm an emotional person and I immediately started to cry. It was very scary. Absolutely scary. I love the speed of the sport. But it's so dangerous."

Chitwood said 14 fans were treated on site and 14 others were taken to hospitals. Local officials said 19 people were taken to neighboring hospitals, including two who were in critical but stable condition.

Because of potential injuries, race winner Tony Stewart skipped the traditional victory celebration.

Stewart, who won for the 19th time at Daytona and seventh time in the last nine season-opening Nationwide races, was in no mood to celebrate.

"The important thing is what is going on on the frontstretch right now," said Stewart, a three-time NASCAR champion. "We've always known, and since racing started, this is a dangerous sport. But it's hard. We assume that risk, but it's hard when the fans get caught up in it.

"So as much as we want to celebrate right now and as much as this is a big deal to us, I'm more worried about the drivers and the fans that are in the stands right now because that was ... I could see it all in my mirror, and it didn't look good from where I was at."

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NASCAR: Daytona Race to Go On After Crash

Every seat will be filled at Daytona International Speedway today after a team worked overnight to repair a fence that was breached in a horrific crash that injured at least 28 spectators in the grandstands.

Joie Chitwood III, president of Daytona International Speedway, said his team met with NASCAR officials at 8 a.m. EST today to review the repairs, hours before 147,000 fans will fill the grandstand seats to watch the Daytona 500 race.

If fans are uneasy about their seating location today, Chitwood said his team would make "every accommodation we can" to move them.

PHOTOS: Crash at Daytona Sends Wreckage Into Stands

The track became a disaster scene on Saturday when 12 cars became tangled in a fiery crash during the final lap of the Nationwide race.

Pieces of rookie Kyle Larson's shredded race car turned into shrapnel that flew into the stands, injuring at least 28 people.

Chris Graythen/Getty Images

RELATED: Fiery Daytona Crash Injures Fans

At least 14 of the injured were transported to hospitals and more than a dozen others were treated at the speedway, Chitwood said.

"I do know that we transported individuals from lower level and upper level [of the grandstands]," he said.

Terry Huckabee, who was sitting in the grandstands with his brother, compared the scene to a "war zone."

"I mean, tire flying by and smoke and everything else," he said.

Huckabee said his brother is recovering in the hospital after his leg was sliced open by the spray of debris.

The crash was apparently triggered when driver Regan Smith's car, which was being tailed by Brad Keselowski on his back bumper, spun to the right and shot up the track.

Smith had been in the lead and said after the crash he had been trying to throw a "block."

Larson's car slammed into the wall that separates the track from the grandstands, causing his No. 32 car to go airborne and erupt in flames.

When a haze of smoke cleared and Larson's car came to a stop, he jumped out uninjured.

His engine and one of his wheels were sitting in a walkway of the grandstand.

"I was getting pushed from behind," Larson told ESPN. "Before I could react, it was too late."

Tony Stewart pulled out the win, but in victory lane, what would have been a celebratory mood was tempered by concern for the injured fans.

"We've always known this is a dangerous sport," Stewart said. "But it's hard when the fans get caught up in it."

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Tennis: I can become world No.1 again: Federer

DUBAI: Roger Federer bristled a little when it was suggested to him that his days as world number one might be at an end because of his reduced schedule, and only a few seconds were needed for him to knock that idea back.

The 31-year-old top-ranking record-holder is only planning to play 14 tournaments this year, even dropping his home town tournament in Basel and the Miami tournament which has sometimes been described as the biggest outside the four Grand Slams.

Federer, who is now world number two, is already more than 4000 ranking points behind the leader Novak Djokovic, whose total is 40 per cent more than the Swiss legend.

This means that the chances of the sport's greatest legend adding to his record total of 302 weeks at the top would appear to be significantly reduced.

But Federer immediately contested that. "It's definitely realistic if I'm playing great, but I need to play absolutely great," he said, before expressing his doubts.

"I can play great, but will I be allowed to? Time will tell. My big focus is on making sure that every tournament I enter I am perfectly prepared. I am hopeful I will get enough matches but if not my schedule can be changed.

"I need to make sure I have enough time off, so that when 2014 comes I am in a position with options which I almost wasn't this year to a degree."

This is a reference to the options which will be open to him in 10 months time according to ATP Tour rules. These reduce a player's mandatory commitments to Masters events by one tournament for each of the following milestones - 600 career matches, 12 years' service, and 31 years of age.

But because Federer will have achieved all three, he will be able to skip as many as he wishes without penalty.

For this and other reasons Federer also insists he can extend his all-time record of 17 Grand Slam tournament titles.

"I strongly believe I have more Slams in me," he said. "Which Slam do I favour - does Wimbledon over-weigh the rest? Maybe, but looking back there have been amazing moments with each Slam.

"It depends how long I play. But I don't want to be depending on that. I am trying to be smart with my schedule. I am practising more.

"Your prime is 23 to 27 or 28 so for me it's very challenging - and exciting. I need to make the right decisions. I have family and not many guys have that."

Federer was even more adamant that retirement was not close. "I want to give myself the best chance to play as long as I can. Maybe then it will become clear that it is time to stop. You know things change very quickly, and you have to be ready and open about it.

"But I would like to give myself the chance to play for many years to come. I am happy with the way my body is. I am healthy and happy to be playing. And as for the number one ranking and Grand Slams, they are still really important to me.

"If I feel confident and am enjoying it I hope to play for a long time. I think I am playing excellent tennis. Some win Grand Slams at 16 and others at 34. It depends how you see things.

"The over-30 guys are extremely consistent. I think I can play good tennis not playing so much."

Federer's realism was shown by his reaction to Rafael Nadal's predicament as he tries to return to his former eminence after injuries and many months out of the game.

Not only did Federer show sympathy for Nadal but emphasised that others had something to learn from him.

"It's not only him who needs to be careful but all of us," Federer emphasised. "How much travelling can you do? How much training? How much sleep does the body need? How much time away from the game do you need? Everyone is different.

"At the end of the day the body and the mind can only take so much.

Federer's new time-and-energy economy will mean that he takes fully seven weeks off between next months Master Series in Indian Wells and the clay court season in May. he has played on three matches since the Australian Open four weeks ago.

A test of the effectiveness of this will begin at the Dubai Open on Monday when he plays a first round against Malek Jaziri, the world number 130 from Tunisia.

- AFP/fa

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