Singapore Morning News For August 8

Singapore Morning News For August 8

Singapore morning newsFirst Re-Offer of Balance Flats exercise oversubscribed by almost 4 times
The Housing and Development Board’s (HDB) first Re-Offer of Balance Flats (ROF) exercise has been oversubscribed by about four times, with more than 5,500 applications received for the 1,394 flats on offer as of 5pm on Monday (Aug 7).
Channel NewsAsia 

Singapore’s Real Estate Is a Hot Property in China
Over the span of a year, a team of senior executives at Chinese developer Logan Property Holdings Co. made frequent trips to Singapore as the company sought to make a big splash for its entrance into the city-state’s market.
The Wall Street Journal 

Singapore top draw for startup professionals? Not so simple
A STUDY has ranked Singapore as the world’s top city for professionals looking to work in a startup – a finding which has drawn mixed reviews from those in the local startup sector.
The Business Times 

Singapore life insurance growth still strong
SINGAPORE’S life insurance business continued on its strong growth momentum for the three months ended June, even as it faces economic uncertainties, fast ageing population and slow labour market.
The Business Times

Are Singapore Banks transferring Interest volatility risks to consumers?
OCBC follows hot on the heels of DBS and UOB to launch a new fixed deposit rate pegged package
The Independent Singapore

ANZ’s wealth management, retail business in Singapore transferred to DBS
DBS Bank said on Monday (Jul 7) it has completed the migration of ANZ’s wealth management and retail banking business in Singapore.
The Straits Times (paywall)

Aigang Provides an Insight Into the Future Proof Digital Insurance Protocol on Blockchain
Digital insurance protocol, Aigang Network provides an insight into the future of insurance for new-age technology infrastructure, starting from mobile batteries to drones and autonomous cars.
PR Newswire 

PM Lee accepts Halimah Yacob’s resignation from the PAP
Prime Minister and Secretary-General of the People’s Action Party Lee Hsien Loong on Monday (Aug 7) accepted the resignation of Halimah Yacob from the PAP.
Channel NewsAsia 

Committee recommends that Founders’ Memorial be at Bay East Garden
The Founders’ Memorial committee on Monday (Aug 7) recommended that the site be located at Bay East Garden, and be opened to the public by 2025 – in time for celebrations for Singapore’s 60th birthday.
Channel NewsAsia 

Singapore must stay at forefront of aviation industry: Khaw
As thousands of people turned up for a glimpse of Changi Airport’s Terminal 4 (T4) yesterday, the Transport Minister warned that Singapore cannot afford to let its guard down on the aviation front.
The New Paper 

En bloc, huge deals push S’pore up on list of most active markets in Asia-Pac
SINGAPORE climbed to its highest position in five years on a list of most active big-ticket real estate market makers in the Asia-Pacific with US$5.8 billion worth of sales volume in the first half of 2017, data released by Real Capital Analytics (RCA) on Monday showed.
The Business Times 

SPH, Mediacorp tie up to offer programmatic advertising
SINGAPORE Press Holdings (SPH) and Mediacorp on Monday announced an alliance to create a new digital advertising marketplace using programmatic solutions, and to offer brands access to a wide audience of consumers in Singapore.
The Business Times 

SG Digest: Yanlord’s $1.5b redevelopment deal; Roxy-Pacific buys assets in Japan, NZ
Yanlord Land Group Ltd has secured the rights to a $1.5-billion prime redevelopment site in China, while Roxy-Pacific Holdings Ltd has made two new property acquisitions in Japan and New Zealand.

Singapore Digest: LifeBrandz buys e-Holidays; United Food to acquire Really Time
Lifestyle and entertainment brand development and management company is slated to buy 100 per cent stake in e-Holidays, a Japan-based leisure travel services provider. Meanwhile, United Food announced that it will acquire 80 per cent shares in Really Time Trading Ltd for RMB 16 million ($2.3 million).

SG-based FindYourSpace gets $300K from business builder REAPRA
REAPRA Business Builder has invested $300,000 in real estate technology firm FindYourSpace to help the startup expand into Southeast Asia, starting in Thailand, and to enhance its technology.

Prominent lawyer fined S$6k for contempt of court
Criminal lawyer Eugene Thuraisingam was on Monday (Aug 7) ordered to pay a S$6,000 fine, after the High Court found him guilty of contempt of court over his Facebook post on the death sentence of his former client.
Today Online 

GrabNow service to target street-hail market
After progressively rolling out ride-hailing services for private-hire cars, buses and vans, Grab is moving directly into the street-hail market with new service GrabNow.
The New Paper 

Underage maids from Myanmar seek help in Singapore
About 240,000 foreign maids work in Singaporean homes, but those from Myanmar are among the most vulnerable.
Al Jazeera 

Singapore C-130 delivers aid to Philippines
A Singaporean Lockheed C-130 “Hercules” cargo plane, loaded with assorted relief supplies, has landed at the Laguindingan Airport, Misamis Oriental on Monday.
Update Philippines

Singapore a huge threat to Malaysia’s 13-gold quest
Singapore could derail Malaysia’s hopes of making a clean sweep of the 13 diving golds at the Kuala Lumpur SEA Games from Aug 19-30.
The Star Online 

Suspect in Western Union robbery taken back to crime scene
The 56-year-old man charged with committing armed robbery at a branch of money transfer agency Western Union was taken to the scene of his alleged crime on Monday (Aug 7).
Today Online

Feature photo Marco Verch
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.



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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.

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