Singapore morning news for August 21

Higher spending fails to boost retail rents from protracted slump
Even as locals stepped up their festive purchases ahead of discounts offered before Hari Raya Aidilfitri and businesses jumpstarted their expansion plans, Singapore’s retail rents remained in negative territory after slipping 1.1% in Q2 and reversing the slight 0.1% growth booked from the previous quarter, according to real estate consultant Savills.
— Singapore Business Review

Lease Buyback Scheme to be extended to all HDB flats, including 5-room and larger ones: Lawrence Wong
The Lease Buyback Scheme (LBS) for Housing and Development Board (HDB) flats will be extended to cover five-room units and larger ones, said National Development Minister Lawrence Wong, as the Government announced concrete moves to help seniors unlock the value of their flats for retirement.
— TodayOnline

More than 33,000 sign up for PayNow Corporate | Video
PayNow Corporate has been in operation for a week and according to the Association of Banks in Singapore, 33,185 have signed up as of Sunday (Aug 19).
— Channel NewsAsia

Government to roll out voluntary early redevelopment scheme for households
Residents may vote to undergo a voluntary early redevelopment scheme (VERS) for their households before their leases run out, Prime Minister Lee Hsien Loong said. The long-term plan is set to be offered to residents after 20 years.
— Singapore Business Review

NDR 2018: Why are HDB leases 99 years long? PM Lee explains
The prime minister said that HDB flats must be returned to the state after 99 years for the sake of future generations and for social and practical reasons.
— Channel NewsAsia

Singapore has the fastest fixed broadband speed in the world
Singapore beat 132 countries to once again nab the top spot in the global fastest fixed broadband rankings, according to Ookla’s Speedtest Global Index.
— Singapore Business Review

Viv Lines To Receive Individual Achievement SABRE In Singapore
H+K Strategies global vice chairman and Asia-Pacific chairman Vivian Lines will be honoured with the Individual Achievement SABRE Award in Singapore on September 11, at the eighth edition of the Asia-Pacific SABRE Awards.
— The Holmes Report

Singapore’s first clinical trial approval for T cell engineered (TCR) immunotherapy for treatment of Liver cancer
Lion TCR Pte. Ltd., a Singapore-based Biotech company receives approval from Health Sciences Authority (HSA), Singapore, for its Phase I/II multicentre clinical study of its product candidate (LioCyx™) for treatment of relapsed liver cancer post-liver transplantation.
— AEC News Today/ PR Newswire (media release)

HSBC Singapore rolls out accelerator programme for SMEs
HSBC Singapore has launched an exclusive, 12-month training programme called HSBC Pioneer to offer select SMEs with next-level banking solutions, according to a statement.
— Singapore Business Review

AVA orders recall of Dumex Mamil Gold infant milk formula after detecting bacteria
Authorities have ordered the recall of Dumex Mamil Gold infant milk formula – Step 1 after detecting the Cronobacter sakazakii bacteria in samples of the milk powder.
— Channel NewsAsia

‘To understand Singapore, head to a hawker centre’
In naming it as Singapore’s nomination for Unesco’s Intangible Cultural Heritage during Sunday’s National Day Rally, Prime Minister Lee Hsien Loong spoke of hawker culture being a unique part of Singapore’s society, heritage and identity.
— The New Paper

Luxury cruising and environmental responsibility meet in Halong Bay
Taking in Halong Bay’s sights on a luxury cruise ship is certainly one way to live it up. Imagine the unique scenery provided by over 2,000 limestone islets, breeze in hair, and cocktail in hand – except you won’t find a plastic straw in your drink.
— Channel New Asia

Singapore Startup Raises $618 Million to Expand Datacenters
Deutsche Bank AG underwrote a senior secured loan that will eventually be syndicated to a broader group of lenders, the Singapore-based startup said in a statement Monday.
— Bloomberg

Money already budgeted for handouts; Singapore’s land is a renewable fiscal resource
Bertha Henson, a former journalist from Straits Times and consulting editor of the defunct social-political site, Middle Ground wrote an opinion piece, following Prime Minister Lee Hsien Loong’s speech in the National Day Rally, asking whether the nation can afford to pay for the Merdeka package that was revealed by the PM.
— TOC

Singapore taps data analytics to better manage rail systems
Land Transport Authority dishes out S$18.8 million (US$13.7 million) to deploy a rail management platform that will consolidate its existing tracking systems and use data analytics to monitor and identify potential faults.
— ZDNet

Focus on primary care can reshape healthcare landscape
On Sunday, Prime Minister Lee Hsien Loong announced two major healthcare policies which hold the potential to reshape the healthcare landscape.
— The Straits Times

PM Lee gives good tips on how to cope with rising cost of living
At the National Day Rally yesterday night (19 Aug 2018), Prime Minister Lee Hsien Loong outlined several factors that have pushed up the cost of living in Singapore, as more Singaporeans have been complaining about it in recent times.
— TOC

550,000 flats to be spruced up under upgrading scheme
A total of 550,000 Housing Board flats will benefit under the Home Improvement Programme (HIP), the HDB said yesterday.
— The Straits Times

Malays here can volunteer more: PM Lee
While Malays here have taken great strides to build a strong culture of self-reliance and cooperation, more can step forward to volunteer with community groups, Prime Minister Lee Hsien Loong said yesterday at the National Day Rally.
— The New Paper

Freehold HDB leases would be ‘socially divisive’: PM Lee
PRIME Minister Lee Hsien Loong addressed the issue of Housing and Development Board (HDB) flat leases at Sunday’s National Day Rally, saying that their 99 year leases is in fact “a very long time” and very few of today’s public housing owners would outlive their leases.
— The Business Times

Romanian and Frenchman jailed for role in S$1.5 million cross-border scam
According to court documents, Iosif and Wiedmann worked for a man known as both “Boris” and “Eli”. They were each promised S$5,000 to fly to Singapore on Aug 27 last year to collect S$1.5 million in cash from Oceanic Group’s office at Fragrance Empire Building on Alexandra Road.
— TodayOnline

Going, going, gone? Singapore heritage group proposes measures to prolong life of post-independence buildings
When Pearl Bank Apartments, People’s Park Complex and Golden Mile Complex were completed in the 1970s, they were considered bold, innovative pieces of architecture.
— The Straits Times

Singapore get first medal of 2018 Asiad
Singapore’s swimmers delivered the nation’s first medal at the 2018 Asian Games yesterday, a bronze in the men’s 4x200m freestyle.
— The New Paper

Consortium awarded S$18.8 million contract for new rail asset management system
The Land Transport Authority (LTA) has awarded an S$18.8 million contract to a consortium to develop and implement a new system that will monitor the health of various operating rail assets.
— TodayOnline

Fire traps family of seven on condo balcony
A family of seven was trapped in their Forestville executive condominium (EC) in Woodlands on Saturday evening after the digital lock to the main door failed to work during a fire.
— The New Paper

Devil’s in the details, but flat owners should not expect windfall from new HDB scheme: Analysts
The housing initiatives announced at the National Day Rally — particularly the new Voluntary Early Redevelopment Scheme (Vers) — will go some way to reassure homeowners whose leases are running down, said some analysts interviewed by TODAY.
— TodayOnline

Changi Airport launches new Singapore stopover programme
Changi Airport Group has announced the launch of its Changi Stopovers programme, aimed at enticing passengers travelling through Singapore to stop and explore the Lion City.
— Breaking Travel News

Cosmoprof workshop raises eyebrow game of Miss Universe Singapore 2018 finalists
Being a flight attendant, Miss Universe Singapore (MUS) 2018 top 15 finalist Renee Kee is able to do a full-face make-up routine in just 10 minutes.
— The New Paper

Contractor under probe by HDB for stuffing papers into walls of flat
The Housing and Development Board (HDB) is investigating a renovation contractor who placed newspapers in the walls of a HDB flat.
— The New Paper

Singapore and Malaysia must follow terms of water and HSR agreements, says PM Lee
While Singapore appreciates the new Malaysia government’s reasons to review and change various policies of the previous administration, Prime Minister Lee Hsien Loong made it clear on Sunday (Aug 19) that both countries have to adhere to agreed terms relating to water prices and the Kuala Lumpur-Singapore High-Speed Rail (HSR) project.
— TodayOnline

New system to identify rail faults before they occur
A new system that identifies potential faults on the rail network before they occur will be introduced within the next two years, the Land Transport Authority (LTA) announced yesterday.
— the New Paper

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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 August 21 added by Maria Mirasol Rasonable on August 21, 2018
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Maria Mirasol Rasonable

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Maria Mirasol Rasonable graduated with a Bachelors Degree in journalism from Polytechnic University of the Philippines, Santa Mesa, Manila, Philippines.

She previously covered police rounds for Philippine Daily Inquirer as a trainee before becoming editorial staff at Gospel Komiks under the Communication Foundation for Asia (CFA-MG), Santa Mesa, Manila where she wrote lifestyle and trending fashion and styles articles.