Singaporean company sets up HK's first cord blood bank A Singaporean biotechnology company has set up Hong Kong's first bank for storing stem cells extracted from the umbilical cords of newborn babies. CordLife operates laboratories and storage facilities in Hong Kong Science Park and will launch its stem cell service in May. For HK$30,000, a mother can have the stem cells taken at the birth of her baby and stored at the company for 18 years. The stem cells can be used for medical treatment for the baby's relatives or the baby himself. The umbilical cord processing technology is pioneered and patented by CordLife's business partner, Singapore-based CellResearch Corporation. Stem cells extracted from the umbilical cord are capable of developing into various other specialised cells and can replace damaged or aged tissue. Such cells can be used to treat more than 80 diseases, such as diabetes, festering skin, leukaemia and lymphoma. University of Hong Kong researchers announced in November last year that they had used stem cells in a study to form new blood vessels in patients with heart disease to replace blocked vessels. Respect for teachers ranks low among secondary school students More than 60 per cent of secondary school pupils do not consider respect for teachers a top core value, a survey finds. Whole Person Education Foundation, a non-profit organisation, interviewed more than 20,000 adults, primary school students and secondary school students. The respondents were asked to select five most important core values from a list of 15. Overall, family life led the list of most important core values as the choice of 62 per cent of people. Trustworthiness, integrity and a peaceful society were also among the top five. However, 40 per cent of the primary school children did not pick respect for teachers. Wong Lai-ching, principal of Tsz Wan Shan St Bonaventure Catholic Primary School, said pupils who had heard stories about teachers breaking the law or harassing students lost trust in them. Wong noted that young children were unable to think critically about the information they received. 'Teachers have to set an example so that students can respect us,' she said. The survey also found patriotism and innovation were not highly rated among both pupils and adults.