Singapore Morning News For June 27

Singapore is falling behind Hong Kong, just do the math
‘People in Hong Kong on average have US$29,000 each a year to spend on themselves while Singaporeans have only US$19,000, and the margin is growing rapidly in Hong Kong’s favour’
— South Morning China Post

Cost of data breach down 10% globally, says study
WITH cyberattacks becoming more sophisticated, the threat of a data breach has become the new normal for businesses.
— The Business Times

Visitor Arrivals to Singapore Increased Eight Percent in 2016, But Gaming Spend Down
Singapore’s tourism sector is growing in terms of visitor arrivals and overall spending, but when it comes to the “sightseeing, entertainment, and gaming” component, receipts were down in 2016.
— Casino Org

GIC grants Green Dragon Gas extension on $50m convertible note
Green Dragon Gas Ltd., which is listed on the London Stock Exchange (LSE) and is one of the largest independent companies involved in the production and sale of Coal Bed Methane (CBM) gas in China, has secured an extension of the put option from GIC, Singapore’s sovereign wealth fund.
— Deal Street Asia

Developing Social Work Supervision in Singapore
Associate Professor Kieran O’Donoghue, Head of Massey University’s School of Social Work, is heading to Singapore next week to deliver a keynote address to more than 250 social work supervisors at the Social Work Supervision: Innovative ways to chart the bare essentials seminar.
— Scoop

Singapore developer gets green light for £130m London flats
Singapore developer Frasers Property (UK) has gained planning permission for a landmark £130m apartment building next to the Thames in London’s Wandsworth area.
— Construction Enquirer

Singapore, Jamaica Collaborate On Special Economic Zones And Airports
The Jamaica Special Economic Zone Authority (JSEZA) and Singapore Cooperation Enterprise (SCE) have signed an addendum to a memorandum of understanding (MOU) which both organisations inked last December to collaborate on the development of special economic zones (SEZ) in the island.
— The Gleaner

Thai fuel tanker sailing to Singapore attacked by pirates in Malaysian waters
A Thai-registered tanker fell victim to maritime pirates who syphoned 1.5 million litres of diesel from the vessel last week.
— Today Online

Singapore: CNB seizes drugs worth $265,270 near Ceylon Road
Singapore’s Central Narcotics Bureau (CNB) has seized drugs estimated to be worth more than $265,270, including 3.5kg of heroin, in an operation on Thursday, the authorities said. Three suspected drug traffickers were also arrested.
— International Business Times

S$48m spent on upgrading 6 shopping complexes: HDB
The Housing and Development Board (HDB) has spent around S$48 million upgrading six of its 21 shopping complexes across Singapore, it announced on Monday (Jun 26).
— Channel NewsAsia

Indranee lists options for 38 Oxley Road; questions why Lee Hsien Yang wants ‘immediate commitment’ on demolition
There are four possible options for the house of the late Mr Lee Kuan Yew at 38 Oxley Road – demolition, preservation, conservation and compulsory acquisition – said Senior Minister of State for Law Indranee Rajah on Monday (Jun 26).
— Channel NewsAsia

Korea’s KIC expected to open new office in Singapore
South Korea’s sovereign wealth fund, Korea Investment Corporation (KIC), is to open its third overseas office in Singapore by as early as August as part of its plan to diversify its investment portfolio, according to local newspaper reports.
— AsiaAsset

Singapore economy poised to register 2.7% growth this year
The ongoing recovery in global trade and the improved growth dynamics are expected to pave the way for Singapore economy’s 2.7 percent expansion this year. However, the economy is set to rise with the backdrop of uneven sector performances.
— International Business Times

Singapore’s Keppel Land forms JV to acquire Shanghai property in $525m deal
Keppel Land China and Alpha Investment Partners have partnered with a co-investor to acquire a Shanghai office and retail mixed-used development, SOHO Hongkou, for $525 million (S$728.8 million).
— Deal Street Asia

What matters most in a job offer for Singapore candidates?
A broad majority (81%) of job candidates in Singapore rank work schedule flexibility as a top consideration when assessing a job offer from a potential employer, according to research from recruitment firm Hays. Results also showed that only 3% were unsure about how they would rate flexibility as a job hunting consideration.
— HRD

Despite backlash, campaign on fertility issues to continue run
A fertility awareness campaign that drew flak last year will run again this year, featuring even more fertility health checks for interested couples than in its first run.
— Today Online

SP Group poised to transform into ‘power sector’s Uber’
AS WAVE after wave of disruption buffets the power sector, grid operator SP Group is taking steps to turn itself into the industry’s “Uber”: In time to come, it sees itself providing a platform that matches the supply and demand of power, especially as power generation becomes a fragmented and distributed business.
— The Business Times

Disruption looms for property sector as technology investments mount
REAL ESTATE has been a spectator to technology disruption for years, but all that could be changing as the traditionally tech-laggard sector moves into the epicentre of a technology revolution.
— The Business Times

Minister questions Hsien Yang’s urgency to demolish Lee family home
Asking why Mr Lee Hsien Yang is seeking “an immediate commitment on demolition” of 38 Oxley Road, Senior Minister of State for Law and Finance Indranee Rajah said there is no urgency for the Government to decide on what to do with the property right now.
— Today Online

S’pore’s peace, harmony cannot be taken for granted: Heng
In the face of racial and religious divisions that have led to terror attacks around the world, the harmonious ties in Singapore should not be taken for granted and require constant safeguarding, said Finance Minister Heng Swee Keat yesterday.
— Today Online

AVA probes ‘hoarding’ of 94 cats rescued from 2-room flat
The Agri-Food and Veterinary Authority (AVA) is investigating a case in which 94 cats, mostly Siamese, were kept in cramped conditions in a two-room flat in Fernvale Link.
— Today Online

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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 June 27 added by Leakhena Khat on June 27, 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.