Singapore Morning News For July 20

Land Constrained Singapore to Study Underground and High-Rise Data Centers
Singapore government has agreed to fund a research project by a local data center provider and a Chinese hardware vendor on designing and building underground and high-rise data centers, as the small island nation’s outsize data center industry faces a future marked by land shortages.
— Data Center Knowledge

Chinese fintech giant Lufax chooses Singapore for new platform
Ping An Group’s Lufax, China’s second-largest marketplace lender, has been planning to launch a wealth management platform since last year, and it’s now chosen Singapore for the venture.
— Business Insider

Coca-Cola opens S$79m storage, distribution centre in Tuas
Coca-Cola on Wednesday (Jul 19) unveiled a new US$57.5 million (S$79 million) storage and distribution centre in Singapore that leverages on automation and technology.
— Channel NewsAsia

Singaporeans’ interest in Australian property wanes
SINGAPOREANS are still buying property in Australia but their interest has dwindled slightly, given the abundance of residential options back home.
— The Business Times

Huawei partners firms, IMDA to spur innovation
CHINESE smartphone maker Huawei is collaborating with Singapore companies and the Infocomm Media Development Authority (IMDA) to spur innovation.
— The Business Times

Singapore’s B Capital leads $8m Series B in virtual medical assistant Bright.md
Singapore-based B Capital has led a $8-million Series B round in Bright.md, a virtual medical assistant for primary care co-founded by CEO Ray Costantini and Mark Swinth.
— DealStreetAsia

Singapore innovation ecosystem is in need of a new model
Technology is re-shaping the business landscape faster than ever. Moving from connected cars and homes to self-driving cars and smart environments, intelligent technologies are pushing us to innovate beyond traditional boundaries.
— The Independent Singapore

Property-bound Singapore capital now prefers home turf
THE capital flight to greener pastures abroad from Singapore has slowed to a trickle, amid a turnaround in the property market at home.
— The Business Times

Singapore offers SAF assistance to help Philippines fight terrorism
Defence Minister Ng Eng Hen has offered the Singapore Armed Forces’ (SAF) assistance to counter the threat of terrorism in Philippines together with the Armed Forces of the Philippines (AFP), the Ministry of Defence (MINDEF) said on Wednesday (Jul 19).
— Channel NewsAsia

S’pore hotel rates, airfares to take off in 2018
AIRFARES in Singapore are expected to rise by 3.9 per cent next year, outpacing the region, while hotel prices here are projected to see a 3.2 per cent increase as the hotel industry picks up pace, according to a report.
— The Business Times

Some banking services to be disrupted over 2 days in August, DBS warns
Customers of Singapore’s largest banking group DBS Bank may experience problems in accessing selected banking services on the DBS network over the first weekend of August, according to an email sent out to the bank’s clients seen by TODAY.
— Today Online

Singapore will not ‘roll over’ for China
Singapore’s diplomats aren’t shrinking from any challenge to defend the Lion City’s national interest against major powers such as China, even at the risk of occasional reprisals.
— South China Morning Post

5 growth industries picked for job-matching help: Swee Say
RESOURCES will be poured into helping job-seekers to land jobs in five growth industries, with senior political office holders coordinating the work in each of these sectors.
— The Business Times

PIE work site accident: MOM to look into injury compensation claims promptly, Sam Tan says
Compensation claims made by the workers who were injured in the collapse of an uncompleted viaduct will be looked into promptly, Minister of State for Manpower Sam Tan said on Wednesday (Jul 19) after visiting them at Changi General Hospital (CGH).
— Channel NewsAsia

Singtel’s NetLink debuts slightly above offer price
NetLink NBN Trust, the broadband unit of Singapore Telecommunications (Singtel), rose slightly above the offer price in its market debut on Wednesday (Jul 19) in an IPO that is the largest the city-state has seen in four years.
— Channel NewsAsia (video)

Soo Kee takes a shine to China with S$10.2m joint venture
Homegrown brand Soo Kee Group is setting up a joint venture to kick-start its foray into the Chinese market.
— Channel NewsAsia

Singapore Sports Council unable to account for 1,396 sponsored electronic devices worth $224,700
The Auditor-General’s Office (AGO) has flagged the Singapore Sports Council (SSC) for not being able to produce adequate evidence to account for 1,396 electronic devices valued at $224,700 that were sponsored for the preparation of two major sporting events in 2015.
— The Independent Singapore

Smaller quotas send COE prices higher in almost all categories
Certificates of entitlement (COE) for cars and commercial vehicles ended higher at the latest tender yesterday, while the premium for motorcycles tumbled.
— The New Paper

Lessons to be learnt from viaduct collapse: Lim Swee Say
In his first public comments on last week’s collapse of a partially completed viaduct, Manpower Minister Lim Swee Say said yesterday that there were “lessons to be learnt”.
— Today Online

New lockers at 7-11 stores let polyclinic patients pick up medicine all day
Patients with a regular drug prescription for chronic diseases may now collect their medication any time of the day, under a tie-up between National Healthcare Group Polyclinics (NHGP) and 7-Eleven convenience stores.
— Today Online

Feature photo Bryn Pinzgauer
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 20 added by Leakhena Khat on July 20, 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.