Singapore morning news for December 4

Singapore morning news for December 4

Singapore morning news

Singapore police crush vice syndicate with China’s help
A transnational vice syndicate has been smashed in a joint operation by the Singapore Police Force and China’s Ministry of Public Security (MPS).
— The New Paper

MAS unveils S$30m grant to boost Singapore financial sector’s cybersecurity capabilities
The Monetary Authority of Singapore (MAS) on Monday launched a S$30 million Cybersecurity Capabilities Grant to raise the cybersecurity capabilities of the financial sector and help financial institutions develop local talent in cybersecurity.
— The Business Times

Trade war ceasefire sparks stock rally across Asia
Shares rebounded across the region yesterday after the trade war truce between the United States and China and an oil price rebound sent relieved investors racing back to the markets.
— Straits Times

Singapore’s US$200k starter salaries: Why education pays the price
An academic arms race is raging – and it is bad news for everybody.
— South China Morning Post

COI conclusions have completely missed addressing the culture of fear
The high profile committee of inquiry (COI) for the biggest hack to ever hit Singapore in the form of the widely publicised SingHealth data breach is finally wrapped up with a summary of recommendations put forth.
— The Online Citizen

Bicentennial logo launched, design reflects 700 years of history
As efforts ramp up to commemorate the 200th anniversary of the arrival of Sir Stamford Raffles in Singapore, the office in charge of next year’s activities has launched the bicentennial logo.
— The Straits Times

What happened to the values which our Founding Fathers built this nation?
Dear Fellow Singaporeans, It has been a turbulent period for both TOC’s Mr Terry Xu and myself, since our undue “arrests” a fortnight ago.
— The Online Citizen

PM Lee says will lead PAP in next election, but 4G leaders will be ‘in the thick of things’
Prime Minister Lee Hsien Loong says he will still take the lead for the People’s Action Party at the next General Election in terms of setting the agenda, working out the policies and campaigning for the party.
—Channel News Asia

Potential issues in a Heng succession
The murky waters in and around political succession in Singapore seems to have cleared up somewhat. Speculation on whether former army man Mr Chan Chun Sing (Chan) would take top spot has cooled with the announcement by current Prime Minister Lee Hsien Loong (PM Lee) that the 4G political office holders have chosen Finance Minister Heng Swee Keat (Heng) as their leader who has in turn asked Chan to be his deputy.
— The Online Citizen

S’pore’s manufacturing PMI contracts in November for the first time in more than 2 years
A barometer of Singapore’s electronics manufacturing activity dipped into contractionary territory for the first time in more than two years in November, as US-China trade tensions and the peaking of the global semiconductor cycle weighed on sentiment.
— The Business Times

Factory activity, export orders fall across Asia; no quick rebound seen
Asia’s economic outlook turned gloomy as factory activity and export orders weakened across the region last month, with analysts expecting no quick rebound amid simmering global trade frictions.
— Straits Times

SGX inks deal to help investors capture Belt and Road Initiative opportunities
The parties will develop an index for investors to track investment options related to the BRI.
— Singapore Business Review

Researchers in Singapore develop aerogel from recycled PET bottles
Mechanical engineering researchers at the National University of Singapore … have pioneered the technology to fabricate the world’s first polyethylene terephthalate (PET) aerogels from recovered plastic.
— Recycling Today

Singapore shares soar on Monday on US-China trade truce
Singapore shares closed higher on Monday, with the Straits Times Index closing 73.01 points or 2.3 per cent higher to 3,190.62, buoyed by positive market sentiment surrounding news that tense US-China trade relations are appearing to thaw.
— The Business Times

Singapore Exchange unveils high-grade iron ore swaps and futures; partners China’s Nanhua Futures to develop new indices
Tge Singapore Exchange (SGX) on Monday launched a set of high-grade iron ore derivatives to meet a demand for new risk-management tools, as China increases its use of premium iron ore for steelmaking in its pursuit of environmentally friendly growth.
— The Business Times

Molotov cocktail thrower pleads guilty
On the orders of a loan shark, a young man flung a lit Molotov cocktail at the front door of his neighbour’s flat, which caused a stationary electric bicycle nearby to explode.
— The Straits Times

ePassport gates to open to visitors from Singapore and South Korea
Singapore and South Korea will be added to the list of countries whose nationals will be eligible to use ePassport gates to enter the UK from summer 2019, under plans announced by the Home Secretary today.
— gov.uk

ARA makes maiden entry into US with acquisition of portfolio of 38 hotels
ARA Asset Management announced Monday that it has completed the acquisition of a portfolio 38 hotels in the US.
— The Edge

Hospitality sector could get a RevPar boost by 2019
A muted supply increase in hotel rooms combined with the rise of demand from the leisure segment could work well for hotels’ RevPAR.
— Singapore Business Review

SembMarine may turn in operating profits in 2019 as work ramps up
Now that a large chunk of projects on Sembcorp Marine’s multi-billion-dollar order book is under construction, its management is optimistic that the large-cap offshore and marine group may turn profitable at the operating level next year.
— The Business Times

SPH focused on digitising its core media business
Singapore Press Holdings (SPH) is focused on digitising its core media business while seeking cash-yielding property investments in defensive sectors, said chief executive Ng Yat Chung at the group’s annual general meeting yesterday.
— The New Paper

Millennials in Singapore eager to ride on digitalisation wave
Amid the local workforce’s increasing interest in digital talent, tertiary students in Singapore have been taking an interest in studying Computer Science/Information Technology and Information Systems courses, according to findings from the 2018 BrightSparks Scholarship and Education Survey.
— The Edge

Singapore’s Grab may invest $100m in OYO’s latest funding round: Report
Singapore-based ride-hailing major Grab is said to be in advanced stages of discussions to invest $100 million in OYO Hotels & Homes.
— Deal Street Asia

Battle for premium travellers heats up as Qatar Airways unveils Qsuite in Singapore
The battle for premium travellers in Singapore is heating up, with Qatar Airways now offering its Qsuite business class cabin, with seats that can be converted into a double bed, on flights to and from Singapore.
— The Straits Times

‘Ride-hailing’ buses more cost-effective, especially during off-peak hours
December 04, 2018 5:00 AMQ: What is the purpose of on-demand buses?.
— Straits Times

On-demand bus services at Marina, Joo Koon, & CBD launching in S’pore on Dec. 17, 2018
Meanwhile, waiting times for normal buses in the area are likely to double.
— Mothership

S$10.5m loan from directors used for working capital needs: KTL Global
KTL Global said in response to SGX queries that the increase in loans from directors to S$10.5 million as at Sep 30, 2018 from S$1 million as at Jun 30, 2017 was mainly to finance working capital needs of the group.
— The Business Times

30 Singapore shares that could go on to crush the market in December 2018 and beyond
The Straits Times Index (SGX: ^STI) has rallied 2.1% as of the time of writing today. The spike comes after US President Donald Trump and Chinese President Xi Jinping agreed to a truce on the trade war over dinner on Saturday after the G20 summit.
— Motley Fool sg

Meet Singapore’s robotic police task force
An autonomous car with large wheels, and bearing the police stripes, zips past pedestrians in a neighbourhood. The patrol robot is the newest addition to the Singapore Police Force, keeping a watch on all that it sees and hears.
— Gov Insider

Singapore hosts inter-faith leaders from Asean, set to hold international conference next year
Singapore is set to host its first international conference on social cohesion and inter-faith harmony in 2019, President Halimah Yacob confirmed on Monday (Dec 3), as 40 inter-faith practitioners and activists from around the region gathered here for an inaugural exchange programme.
— The Straits Times

The banana money trail: Prices rising in Singapore, but farmers not gaining
The cost of bananas from the Philippines has shot up, but farmers are struggling with losses, so where is the money from consumers going to, ultimately?
— Channel News Asia

Singapore may allow import of Hong Kong roast goose and other roast meats
Singaporeans who hunger for Hong Kong’s roast meat, especially its famed roast goose, may soon have their fill of it without having to visit the territory.
— The Straits Times

First-time buyers and displaced homeowners will drive housing demand
Smaller units are poised to enjoy healthier take-up rates.
— Singapore Business Review

7 in 10 Singapore women worry about affordable healthcare after retirement
2 in 5 of them are either not checking how much they’ve put in for retirement or have no contributions at all.
— Singapore Business Review

Traders conspired over sham cargo docs: Singapore Bank
Oversea-Chinese Banking Corp. Ltd. is seeking $16.3 million in damages from a commodities exporter for allegedly using bogus documents to receive payment from Deutsche Bank in London for a trade deal…
Law 360 (paywall)

$366,000 lost to ‘God of Fortune’ 4D lottery scams between Jan and Oct: police
Thirteen reports of 4D lottery scams, involving some $366,000, were received between January and October this year, said the police on Monday (3 December).
— Yahoo News

MacPherson at 50: Remembering the past and forging the future in one of Singapore’s first HDB estates
As one of Singapore’s oldest public housing estates celebrates its 50th anniversary, measures are in place to ensure it retains its appeal for residents and has a vibrant and viable future.
— Channel News Asia

SS Scuba pays price for illegally selling travel
SS Scuba Pte Ltd has been convicted in the State Courts, 28 November, for carrying on the business of a travel agency without a valid travel agents licence, Singapore Tourism Board reported, Wednesday.
— TR Weekly

NEA, AVA to prioritise checks on food caterers during festive season
There will be increased checks on food establishments during the festive season, the National Environment Agency (NEA) and the Agri-Food & Veterinary Authority of Singapore (AVA) said on Monday (Dec 3).
— Channel News Asia

Singapore Film Commission celebrates anniversary with documentary, debate
The Singapore Film Commission continued the ongoing celebration of its 20th anniversary by screening a specially commissioned documentary “Singapore Cinema: Between Takes.” Directed by Koh Chong Wu, the film played on Saturday as part of the Singapore International Film Festival (SGIFF).
— Variety

 

Feature photo Peter Gronemann

This week’s Singapore morning news feature photo acknowledges International Civil Aviation Day, December 7.

 

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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With a decade of experience as an editor and journalist, Roy has edited mastheads across Australia and Southeast Asia, from the remote island communities of the Torres Strait to Cambodia’s only award-winning newspaper, The Phnom Penh Post.

A a professional photographer since the days of film, he holds a Bachelor of Arts in Photomedia and a Postgraduate Diploma in Journalism.

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