Singapore Morning News For July 3

Singapore firms band together for HSR projects
SIX Singapore companies are teaming up to participate in high-speed rail projects starting with the Kuala Lumpur-Singapore High Speed Rail (KL-SG HSR).
— The Business Times

HDB resale flat prices declined 0.1% in Q2: Flash estimates
Resale prices of Housing & Development Board (HDB) flats declined by 0.1 per cent in the second quarter of the year compared to the previous quarter, according to flash estimates released by HDB on Monday (Jul 3).
— Channel NewsAsia

S’pore startup launching SEA’s first cryptocurrency crowdfunding platform
A HOMEGROWN startup is betting on cryptocurrency crowdfunding as the next fintech vogue. It has created a platform to allow entrepreneurs to raise funds for their projects using virtual currencies such as Bitcoin or Ethereum, instead of regular currency.
— The Business Times

Singapore’s GIC plans to acquire 30% of Mergermarket Group
Singapore’s sovereign wealth fund (SWF) GIC is set to acquire a 30 per cent interest in London-based financial news and data company Mergermarket Group. The purchase is said to deliver BC Partners a return of more than two times its original investment.
— Deal Street Asia

Foursquare expands presence in Asia, announces new Singapore office
FOURSQUARE, the location intelligence company, announces new and expanded partnerships with industry-leading companies in Asia.
— Digital News Asia

Banks offering bras, buffets, facelifts while you check your balance online
THE future of banking in Singapore is well nigh upon us. Some may blanch at the thought, but shopping online will soon be an offering from your bank.
— The Business Times

Singapore private home prices dip 0.3% in Q2, extending losing streak to 15 quarters
Private home prices in Singapore declined 0.3 per cent in the second quarter of 2017, easing slightly from the 0.4 per cent drop in the first quarter, according to flash figures released on Monday (July 3) by the Urban Redevelopment Authority (URA).
— The Straits Times (paywall)

Can Singapore’s growing otter population continue to thrive in an urban landscape?
They’ve been spotted splashing about in the waters of Bishan-Ang Mo Kio Park, foraging for fish in the Singapore River and even drying off on the artificial turf at the Marina Bay Floating Platform.
— Channel NewsAsia

Singapore Gay Pride Rally Draws Thousands Despite Restrictions
Singapore‘s annual Pink Dot gay pride rally drew thousands of people on Saturday, despite new restrictions aimed at keeping foreigners out of domestic politics and barricades put up around the rally site.
— The Wire

Deals at the 2017 Great Singapore Sale
“Singapore is truly a shopper’s haven and once more, the Great Singapore Sale welcomes our visitors to experience the biggest shopping spree in Southeast Asia,” said Lael Loh, STB area director for Philippines, in a press statement.
— BusinessWorld

KPMG Partners Central Bank of Singapore on FinTech
KPMG Nigeria in collaboration with the Monetary Authority of Singapore (MAS) will be sponsoring a Global FinTech Hackcelerator programme as part of the annual Singapore FinTech Festival which will take place from November 13-17.
— THISDAY

Hazy outlook for Singapore economy in second half of 2017
The global economic outlook has brightened this year, but Singapore’s prospects in the second half of 2017 are still far from certain.
— The Straits Times (paywall)

World’s first floating liquefaction vessel to be boost for Singapore
Keppel Offshore and Marine’s (Keppel O&M’s) completion of the world’s first floating liquefaction vessel (FLNGV) is set to bring Singapore a step closer to achieving its ambitions as a liquefied natural gas (LNG) hub.
— The Straits Times (paywall)

Fly to China on Singapore Airlines for as low as $421 return
Singapore Airlines is taking Australians to the skies once more with luxurious flights to Beijing and Shanghai for under $500 return.
— Finder

Narrow Trading Range Expected For Singapore Bourse
The Singapore stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day losing streak in which it had surrendered more than 45 points or 1.4 percent. The Straits Times Index now rests just above the 3,225-point plateau although it may find traction on Monday.
— Business Insider

Singapore Armed Forces setting up new command to integrate C4 and cyber defence operations
The Singapore Armed Forces (SAF) has announced plans to create a new C4 command to integrate and coordinate C4 (Command, Control, Communications and Computers) and cyber defence operations and capabilities, as both are aimed at ensuring the availability and security of SAF military networks
— OpenGov

Alumni programme to help Home Team NSmen find comrades
Home Team national servicemen (NSmen) who lose touch with their comrades can now reconnect through an alumni programme announced yesterday.
— Today Online

Funding boost for dad kept awake by worries over disabled daughter
Consumed with worries about his daughter’s future, Mr Lee Shang Lian has not had a proper night’s rest for two to three years.
— Today Online

Vietnam, Lao embassies in Singapore mark relations anniversary
The embassies of Vietnam and Laos in Singapore joined hands to organise an evening get-together on July 1 to celebrate the 55th anniversary of Vietnam-Laos diplomatic relations (September 5) and 40 years of the signing of the Vietnam-Laos Friendship and Cooperation Treaty (July 18).
— Vietnam Plus

Singapore detains two Malaysians in cigarette smuggling case
Singaporean authorities smashed an attempt to smuggle cigarettes into the island republic after detaining Malaysian-registered lorry at the Tuas checkpoint in Johor, last Thursday.
— The Sun Daily

Singapore: ICA seizes 3,100 cartons of contraband cigarettes at Tuas Checkpoint
Singapore’s Immigration and Checkpoints Authority (ICA) said that a total of 3,100 cartons of duty-unpaid cigarettes in a Malaysian-registered lorry were seized at Tuas Checkpoint on Thursday.
— IBT

Singapore trumps Shanghai and Hong Kong for best seaport in Asia award
Singapore has been named the Best Seaport in Asia for the 29th time at the 2017 Asia Freight, Logistics and Supply Chain Awards (AFLAS).
— IBT

Singapore’s GIC to acquire 30% stake in Mergermarket
A leading private equity firm BC Partners will be selling around 30% stakes in Mergermarket Group to Singapore’s sovereign wealth fund GIC.
— IBT

Singapore-Listed Global Logistic Properties Gets ‘Firm Proposals’ From Bidders
Singapore-listed warehouse operator Global Logistic Properties has received firm proposals from shortlisted bidders, it said Monday in an exchange filing.
— Nikkei Asian Review

Cabinet committee on Oxley Road an ‘extra-judicial secret attack’
The ministerial committee set up to weigh options for 38 Oxley Road was an “extra-judicial secret attack” aimed at undermining Mr Lee Kuan Yew’s last will and “unwavering wish” to have the house demolished, Mr Lee Hsien Yang said on Sunday (July 2) on Facebook.
— Today Online

880,000 households to get GST vouchers to offset utilities bills
About 880,000 Singaporean HDB households will receive the next installment of the GST voucher – Utilities-Save (U-Save) rebate in July 2017, the Ministry of Finance (MOF) announced on Sunday (July 2).
— Channel NewsAsia

Malaysia files new application to ICJ on Pedra Branca ruling; Singapore says it’s ‘without merit’
Malaysia on Friday (Jun 30) filed an application requesting interpretation of the judgment delivered by the International Court of Justice (ICJ) in 2008 over the sovereignty of Pedra Branca, in a move Singapore has called “puzzling”.
— Channel NewsAsia

Cool project underway: Singapore to develop road map to reduce urban warming
An “ambitious” project that began quietly at the start of this year could bring some relief to Singaporeans who have found themselves wilting in the heat of a concrete jungle.
— Today Online

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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 3 added by Leakhena Khat on July 3, 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.