Singapore Morning News For November 23

Singapore Morning News For November 23

Singapore morning newsSingapore revises up growth forecast for 2017 as Q3 GDP grows 5.2%
The Ministry of Trade and Industry (MTI) on Thursday (Nov 23) said the Singapore economy is expected to grow by 3 to 3.5 per cent for 2017, an upward revision from its initial range of 2 to 3 per cent.
Channel NewsAsia 

Singapore makes a ‘good start’ on its debt restructuring ambitions
Singapore has made “a good start” in its bid to become a debt restructuring hub in the region, with six workout cases filed before its courts after it adopted U.S. Chapter 11-like incentives in local company laws this year, a senior government official said.
The Jakarta Post 

MyRepublic to launch mobile services in Singapore in Q1 next year: CEO
Internet service provider MyRepublic on Wednesday (Nov 22) announced it secured S$70 million in funds from Makara Capital, which it will use to “accelerate” plans to launch mobile services, including in Singapore, “next year”.
Channel NewsAsia 

Waste from soy milk and tofu production turned into ‘high-value’ ingredient by Singapore scientists
Singapore food scientists have turned wasted okara, the by-product of soymilk and tofu production, into ‘a nutritious and tasty food ingredient’.

Singapore: DataRobot to invest $11m in regional HQ; DeClout and Gobi forge partnership
US startup DataRobot is establishing its regional headquarters in Singapore, while DeClout will partner Gobi to accelerate the growth of their portfolio firms.

Singapore mulls GST for e-commerce purchases
Goods and services tax (GST) could soon be levied on e-commerce purchases as the Government looks to diversify its tax base and capture value from this fast-growing sector, experts said.
The Star Online 

Singapore’s Capital World Unit Buying Malaysia’s Kekal Efektif For MYR63 Million
Singapore-listed property company Capital World’s wholly owned unit Baiduri Megaria has agreed to buy the whole of Malaysian real estate outfit Kekal Efektif for 63.0 million ringgit ($15.3 million), Capital World said in an exchange filing Thursday.
Nikkei Asian Review 

E-commerce could be an area for Singapore to diversify tax base: Indranee
The Singapore Government is looking at widening levies on e-commerce to broaden its tax base, Senior Minister of State (Finance and Law) Indranee Rajah was quoted saying in a Bloomberg report published on Wednesday (Nov 22).
Channel NewsAsia

Singapore’s Sea extends losses on the back of surge in e-commerce spending
Sea Ltd., the parent of gaming company Garena, reported that its loss more than doubled in the third quarter on surging marketing costs at mobile-shopping unit Shopee.

Foreign worker fined S$30,000 for unlicensed employment agency activities
He came from Bangladesh to work as a project administrator here, but moonlighted as an illegal employment agent, charging 12 of his countrymen between S$1,800 and S$7,300 to find work here.
Today Online 

Singapore malls could face retail apocalypse like US counterparts
As e-commerce grows in Singapore and in Southeast Asia, investors fear their malls could follow a downfall like with the US, thinktank Urban Land Institute (ULI) and PwC revealed.
Singapore Business Review 

Self-driving buses, shuttles to be tested in 3 towns from 2022
Punggol, Tengah and the Jurong Innovation District will be the first areas in Singapore to have self-driving buses and shuttles plying their roads come 2022.
Channel NewsAsia

Uber Singapore working with the authorities after data breach revealed
Uber Singapore is in the process of notifying various regulatory and government authorities, after it was revealed on Tuesday (Nov 21) by chief executive Dara Khosrowshahi that hackers compromised personal data from some 57 million riders and drivers in a breach kept hidden for a year.
Today Online 

Singapore’s Cinematic Ship Sails On Familiar Course
After a stellar 2016, when two Singaporean films had their world premiere in Cannes, Boo Junfeng’s “Apprentice” and K Rajagopal’s A Yellow Bird,” 2017 has been a strong follow-up year.

Uber’s massive data breach and Singapore ‘phantom’ ride cases not related: Uber
Uber has “no reason to believe” that the massive global data breach it suffered in 2016 is linked to the “phantom” rides being reported by some Singapore users, the ride-sharing company said on Wednesday (Nov 22).
Channel NewsAsia 

Singapore’s lonely poets: migrant workers who feel excluded find their voice through writing, as new documentary shows
With few friends and little connection to locals, people like Zhang Haitao are expressing their feelings through poetry and writing, captured in Singaporean filmmaker Upneet Kaur-Nagpal’s documentary Poets on Permits
South China Morning Post 

Trade Association Hub launched to help boost growth of companies
In line with the Government’s plan to transform industries, the Singapore Chinese Chamber of Commerce and Industry (SCCCI) has launched an industry transformation map and initiated a Trade Association (TA) Hub for trade associations as the Prime Minister calls on them to keep helping to upgrade Singapore’s economy.
Channel NewsAsia

HSA investigating sale of DIY dental kits online
The Health Sciences Authority (HSA) is investigating the sale of dental kits online, amid the rise in availability of such do-it-yourself kits on the Internet.
Channel NewsAsia

This is how your phone’s e-wallet can be hacked
Some might expect a computer-savvy millennial like Mr Winston Ho, 23, to be an early adopter of electronic payment services on his smartphone.
Channel NewsAsia 

Russian magnate sues for full refund of $10.5m Singapore unit
Bought for $10.5 million, the 315 sq m apartment at the Eden Residences Capitol Singapore next to St Andrew’s Cathedral is one of the priciest units in the property scene here.
The New Paper 

MyRepublic to launch mobile services in early 2018
Local fibre broadband operator MyRepublic has pushed back the launch of its mobile services in Singapore to early next year.
The New Paper


Feature photo Aapo Haapanen
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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