Singapore Morning News For July 28

Amazon launches Prime Now in Singapore
Amazon looks set to shake up Singapore’s retail market with the launch of its most aggressive service yet, Prime Now.
— FoodNavigator-Asia

IE Singapore sets up network for SMEs to expand overseas quickly
INTERNATIONAL Enterprise Singapore (IE Singapore) aims to ease market entry for Singapore SMEs with the launch of its new Plug and Play Network.
— The Business Times

More bite for data privacy soon
The law on personal data may soon be revised to keep it in step with the rapidly changing digital landscape.
— The New Paper

Singapore airfares to rise by 3.9% next year
Airfare prices in Singapore might be more expensive next year, a study by Carlson Wagonlit Travel revealed.
— Singapore Business Times

ComfortDelGro taxis to offer QR code payment in DBS tie-up
Passengers of ComfortDelGro taxis can now choose to pay for their fare using a quick response (QR) code, in a tie-up between the taxi company and DBS Bank.
— Channel NewsAsia

MAS urges banks to improve tech use in financial crime fight
The Monetary Authority of Singapore (MAS) has urged banks to make better use of technology and data analytics in their efforts to fight financial crime.
— Today Online

Privacy watchdog proposes mandatory notification for certain data breaches
Singapore’s privacy watchdog has announced proposed changes to the Personal Data Protection Act (PDPA), including the required reporting of certain data breaches to customers.
— Channel NewsAsia

Competition from new brands, e-commerce? Not really, says Royal Sporting House
Even as competition heats up in an increasingly saturated sports retail market and the e-commerce trend leaves some local retailers in the dust, Royal Sporting House appears to be taking it all in its stride.
— Channel NewsAsia

Singapore firms dip toes into blockchain tech for property
AT LEAST two Singapore “proptech” companies are using blockchain platforms to “tokenise” property – that is, to create tokens backed by real estate which investors can buy.
— The Business Times

Supermarket stocks battered as orders flood Amazon Prime Now
lGIANT e-commerce player Amazon’s launch of Prime Now is shaking up the local e-commerce landscape, even as many orders on Thursday failed to meet the promised two-hour delivery window due to overwhelming response.
— The Business Times

People: Aviva Investors, Lombard Odier make Asia appointments
Aviva Investors, the global asset management business of Aviva plc has appointed Thijs Hupkes in the newly-created role of Director, Real Estate Client Solutions, APAC and Middle East while wealth manager Lombard Odier has appointed Emmanuel Roulin as head of its partnerships within its private bank in Asia Pacific, a newly created position at the Geneva-based firm.
— DealStreetAsia

Singapore: Noble Group shares plummet after $1.8b loss warning, asset sales
Noble Group Ltd. plummeted in Singapore after the company warned of a quarterly loss of as much as $1.8 billion and announced the sale of more assets, abandoning its ambitions in global commodities trading and falling back on its Asian roots in a last-ditch effort to survive.
— DealStreetAsia

Serangoon North housing site gets buillish top bid of S$446.3 million
A housing site in Serangoon North Avenue 1 has drawn strong interest from developers, with units of Keppel Corp and Wing Tai submitting the joint top bid of S$446.3 million, Urban Redevelopment Authority data showed after the close of tender on Thursday (July 27).
— Today Online

SGX’s full-year net profit down 3% at S$340 million
The Singapore Exchange (SGX) turned in a flat report card for the full financial year of 2017 despite the market surge over the latter half of this period. However, the exchange’s chief executive expects the outlook to improve in the year ahead as economic prospects brighten and with more new listings in the pipeline.
— Today Online

Haze unlikely to hit Singapore next week despite Indonesia fires
The likelihood of transboundary haze affecting the Republic is “expected to be low” for the rest of this week and next week, said the National Environment Agency (NEA) on Thursday (July 27), as parts of Indonesia continued to be shrouded in smoke from forest fires.
— Today Online

Open Innovation takes centrestage at this year’s TechInnovation
Singapore’s annual industry-technology matching event, to be held in September 19 to 20, will bring together leading international speakers, industry experts, researchers, tech seekers and investors for two days of sharing and collaborating.
— The Independent Singapore

3 Investing Tips for Millennials: Start Investing Early, Aggressively and Independently
With rising difficulties in earning an income through employment, an increasing number of people are looking for sources of passive income. Millennials are no exception, as they are facing a rising unemployment rate for college graduates.
— The Independent Singapore

Main purpose of AHTC lawsuit to account for S$33m: Experts
The main purpose of a lawsuit against some of Aljunied-Hougang Town Council’s (AHTC) members is to make them account for S$33 million in payments made to its former managing agent, according to legal experts.
— Channel NewsAsia

Chinese investors paid $3b for Singapore office assets
Singapore is attracting more real estate investors from China and Hong Kong as transaction volumes rose by 6% this year despite a rather weak market in 2016, real estate firm JLL said in a report.
— Singapore Business Times

BCA: No further risk to public after viaduct checks
The Building and Construction Authority (BCA), in response to queries from The Straits Times filed two weeks ago after the July 14 Changi viaduct incident, said: “As a safety precaution, BCA has conducted checks on other road structures above ground that are currently under construction.
— The New Paper

Civil lawsuit may cost WP support: experts
The Workers’ Party (WP) risks losing support among residents if its leaders do not handle the civil lawsuit filed by Aljunied-Hougang Town Council (AHTC) well, political observers said yesterday.
— The New Paper

92 nabbed in three-day anti-loansharking blitz
A total of 66 men and 26 women, aged between 17 and 77, were arrested for their suspected involvement in loansharking activities after a three-day island-wide operation.
— Today Online

Feature photo Graeme Churchard
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Singapore morning news by AEC News Today is your one stop source for Singapore news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

Singapore Morning News For July 28 added by Leakhena Khat on July 28, 2017
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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.