Singapore Morning News For June 9

Singapore Morning News For June 9

Singapore morning news

Video game spending overtakes TV subscriptions in Singapore
According to the report, the past year marked a tipping point in which consumer spending on video games has overtaken consumer spend on TV in Singapore, which combines TV subscriptions, over-the-top and video on demand.
— Singapore Business Review

Singapore’s medical tourism threatened by Malaysia, Indonesia
Findings by AB Bernstein and Global Health and Travel noted Singapore as one of the top destinations in the region for medical tourism.
— Singapore Business Review

MOU opens doors to Myanmar for more Singapore firms
Homegrown transport and logistics firm Bok Seng Group signed an agreement with Myanmar’s Ayeyar Hinthar Group earlier this year to develop a one-stop logistics hub in the Pathein Industrial City — the region’s first large-scale industrial park.
— Today Online

In a first for region, Gobi, Dymon to syndicate a part of their new vehicles via crowdfunding
The maturing venture capital industry in the Southeast Asia is taking baby steps on the road to innovation as new funds seek wider access to raise capital directly from rich and well-connected individuals.
– Deal Street Asia

Pacific Radiance granted $61.5m in loans under Singapore government schemes
Pacific Radiance has been granted SGD85m ($61.5m) in loans under two Singapore government-backed financing schemes that aim to help offshore and marine companies gain access to working capital amid the prolonged industry downturn.
— Seatrade Maritime News

PH forms JV with freelance services startup RecomN to launch
Media and property conglomerate Singapore Press Holdings Limited (SPH), through its wholly-owned subsidiary – SPH Interactive Pte. Ltd. (SPHI) – has launched a joint venture (JV) with RecomN Technologies in the form of RecomN Singapore Pte. Ltd. (RSPL), an online services matching portal that connects customers with service providers .
– Deal Street Asia

Stocks to watch: Singapore firms with British exposure, GLP, Boustead
SINGAPORE companies with British exposure: These include transport giant ComfortDelGro, City Developments, Ho Bee Land, Ascott Residence Trust, Frasers Hospitality Trust and Sembcorp Industries.
— This Business Times

Pound sinks over 1% against Sing dollar after UK exit poll shows hung parliament
The British pound fell sharply against the Singapore dollar and major currencies as an exit poll indicated British Prime Minister Theresa May’s Conservative Party will fall short of a majority in parliament.
— This Business Times

Singapore shares open 5.67 points higher on Friday
SINGAPORE shares opened 5.67 points or 0.18 per cent higher at 3,242.72 on Friday.
— This Business Times

MINDEF to work with schools to identify students who could serve in cyberdefence vocations
The Ministry of Defence (MINDEF) will work with educational institutions to identify students who could serve in cyberdefence vocations when they do their national service, said Second Minister for Defence Ong Ye Kung on Thursday (Jun 8).
— Channel NewsAsia

NLB to review book vetting process: MCI
The National Library Board (NLB) will be reviewing its vetting process of books, following its withdrawal of about 300 books from a controversial Malay language series found in the children’s section.
— The Newpaper

IFC to extend $12.5m loan to Singapore’s Agrocorp International
The International Finance Corporation (IFC) will provide $12.5 million financing to Singapore-based agri-commodity trader Agrocorp International Pte Ltd to help the latter set up pulse and rice mills in India and Bangaldesh, said an IFC disclosure on June 7.
— Deal Street Asia

Exclusive: In a first for region, Gobi, Dymon to syndicate a part of their new vehicles via crowdfunding
The maturing venture capital industry in the Southeast Asia is taking baby steps on the road to innovation as new funds seek wider access to raise capital directly from rich and well-connected individuals. Crowdfunding platforms, which have traditionally been battling VC firms to capture the growing interest in investing in early-stage companies, are now working together, to enable the latter to syndicate their funds, a significant new development in this region, that also points to an evolving wider trend.
— Deal Street Asia

HDB resale volume grew 8.1 per cent last month
The resale volume for Housing and Development Board (HDB) flats grew by 8.1 per cent in May from a month before, while prices dipped 0.1 per cent, flash estimates from SRX Property showed on Thursday (June 8).
— Today Online

Older housing blocks to get more efficient water closets
Some 9,000 families living in older public housing flats will get new water-efficient water closets in their toilets for free, as part of a three-year project by national water agency PUB.
— Today Online

SMRT Bus Services 700 and 970 routes amended to serve new Shenton Way Terminal
The routes of SMRT bus services 700 and 970 will be amended to serve the new Shenton Way Bus Terminal from June 25, SMRT said.
— The Straits Times

Oil prices continue to slide as supply overhang prevails
Oil prices continued to slide on Friday, adding to sharp declines from earlier this week as evidence mounted that a fuel supply overhang continued despite an ongoing effort led by OPEC to tighten the market by holding back production.
— Today Online

Singapore to host event featuring top scientists
A meeting of the best minds in science will take place in Singapore next week, when more than 400 scientists gather here for the Commonwealth Science Conference.
— The Straits Times


Feature photo Leakhena Khat
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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Stella-maris Ewudolu

Journalist at AEC News Today

Stella-maris graduated with a Bachelor of Arts, Education from Ebonyi State University, Nigeria in 2005.

Between November 2010 and February 2012 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. From 2010 – 2017 she worked as a freelance screen writer for ‘Nollywood’, Nigeria.

She joined AEC News Today in December 2016.

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