Singapore morning news for December 5

Singapore morning news for December 5

Singapore morning news

Singapore’s prime minister personally sues critic for sharing article on Facebook
Singapore’s Prime Minister Lee Hsien Loong is suing a vocal critic of his government for defamation for sharing an article on Facebook that suggested he was involved in Malaysia’s multibillion dollar 1MDB financial scandal.
— South China Morning Post

Malaysia wants Johor airspace back from Singapore, says Malaysian Transport Minister
Malaysia will send a protest note to Singapore over the island republic’s plan to use southern Johor airspace for flight operations at Seletar Airport, and start talks on taking back its delegated airspace in the south.
— Today Singapore

Navy exercise highlights Malaysia-Singapore military ties
Over the past week, Malaysia and Singapore held the latest iteration of their bilateral maritime exercise.The interaction cast light on the ongoing defense collaboration underway between the two Southeast Asian neighbors despite lingering challenges in the bilateral relationship.
— The Diplomat

Singapore faces biggest reskilling challenge in Southeast Asia
Singapore will face the highest rate of job displacement resulting from technological disruption in Southeast Asia, and the country is racing to introduce countermeasures.
— Nikkei Asian Review

Open banking a key digitisation objective for Asia Pacific FIs: Accenture Research
Providing open banking services is on the cards for the majority of large banks in Asia Pacific, according to a new global research report by Accenture Research.
— The Edge

Singapore lodges ‘strong protest’ over extension of Johor Bahru port limits
Singapore has lodged a “strong protest” with the Malaysian government over its move to extend the Johor Bahru port limits “in a manner which encroaches into Singapore’s territorial waters off Tuas”, said Singapore’s Ministry of Transport (MOT) in a media statement on Tuesday (Dec 4).
— Channel News Asia

Malaysia’s desire to take back airspace ‘not a straightforward decision’: Khaw Boon Wan
Malaysia’s desire to reclaim the airspace in southern Johor is not a “straightforward decision”, said Singapore’s Transport Minister Khaw Boon Wan on Tuesday (Dec 4).
— Channel News Asia

Make privileged-access security a priority to protect patient data
The increased use of electronic personal health information (ePHI), coupled with rapid advances in healthcare technology – from cloud-based applications to IoT-enabled devices to telemedicine – has created complex healthcare delivery networks that are target-rich environments for cyber attackers.
— The Business Times

Singapore’s obsession with rankings will ultimately hurt academia more than it helps
The South China Morning Post (SCMP) published an article discussing the US$200,000 starting salary offered by Singapore’s national university and the effects that will have on education and research in Singapore overall.
— The Online Citizen

Singapore is facing a skills shortage in Cyber Security: Dr Magda Chelly
The world is waking up to the ever-increasing threat of cyber-security as more and more people communicate and transact using digital devices. With the possibility of crypto-currencies replacing fiat money or cash, the need to get our cyber-security right is more pertinent now than ever.
— The Independent sg

UAE passport now the world’s ‘most powerful’ passport, Singapore in second place
The United Arab Emirates passport has beaten Singapore’s as the world’s most powerful passport in the 2018 Passport Index.
— Channel News Asia

Singapore is Asia’s second most costly city for luxury living: Julius Baer report
Boosted by a stronger Singapore dollar, the Republic is now Asia’s second most expensive city for luxury living, up from third place previously, according to private bank Julius Baer’s latest wealth report.
— The Business Times

Will SATS’ food volume bear the brunt of SIA’s reshuffling scheme?
Despite Singapore Airlines’ (SIA) route reshuffling of 17 Silk Air destinations which will be transferred to its budget arm Scoot, SATS’ food volume will not be on the losing end, UOB Kay Hian said.
— Singapore Business Review

Worst is over for Singapore offshore marine firms, says Goldman
Singapore’s offshore and marine industry may be on the brink of recovery, with Goldman Sachs Group Inc. expecting rig orders to pick up from 2020.
— The Star Online

Weekly dengue cases exceed 100 for the first time this year: NEA
For the first time this year, the number of dengue cases reported in a week has exceeded 100, according to the National Environment Agency’s (NEA) website.
— Channel News Asia

Detecting viruses on MRT with portable device
Researchers at Duke-NUS Medical School have successfully detected common airborne viruses on board MRT trains, including influenza, adenovirus and respiratory syncytial virus (RSV), which cause flu and flu-like symptoms.
— Straits Times

MOH consulting public on banning, taxing some sugary drinks to fight diabetes
In a bid to cut overall sugar intake, the Ministry of Health (MOH) has started consulting the public on four possible measures that include banning and taxing some pre-packaged sugar-sweetened beverages (SSBs).
— Channel News Asia

Singaporeans urge MOH to reduce price of water instead of banning or taxing sugary drinks
The Ministry of Health (MOH) is seeking public feedback on four measures it is proposing to cut overall sugar intake in Singapore.
— The Independent sg

Singapore venture capital firm to launch blockchain accelerator for start-ups
Singapore venture capital firm Trive Ventures, formerly known as Tri5 Ventures, has unveiled a blockchain accelerator aimed at later-stage start-ups, with the backing of a government agency here.
— Straits Times

Hail public bus rides on-demand from Dec 17 as part of 6-month trial
This is part of a six-month trial by the Land Transport Authority (LTA) to assess the feasibility of on-demand public bus services, which operate based on real-time commuter demand and are routed dynamically.
— www.tnp.sg

Tech and real estate rev up Singapore M&A scene
Singapore’s M&A scene remained abuzz with activity as a steady number of deals from the tech and real estate sector bucked the increasingly dismal market environment. In fact, M&A activities by Singapore firms hit a historic four-year high as it climbed 19.1% to $46.19b (US$33.8b) in the first half of 2018, data from Thomson Reuters show
— Singapore Business Review

Former Queenstown Cinema site for sale by tender at $200m
A commercial development site in Queenstown where the iconic Queenstown Cinema used to sit was launched for sale by tender, an announcement by Cushman & Wakefield revealed.
— Singapore Business Review

Private equity firm KKR pays S$500m for ‘significant stake’ in OSIM owner V3
Private equity firm KKR is taking up a “significant stake” in massage chair and lifestyle products group V3, the owner of the OSIM and TWG Tea brands said on Tuesday.
— The Business Times

Singapore IT services player Everise acquires US-based Trusource Labs
Singapore-based Everise, a customer contact management service provider, is acquiring US-based Trusource Labs, a technical support team for Internet of Things (IoT), according to an announcement.
— Deal Street Asia

Hyflux given another month to find buyer for Tuaspring in third deadline extension
Troubled water treatment firm Hyflux has been given a deadline extension for the third time to find a buyer and ink a binding agreement for the divestment of its Tuaspring plant.
— Channel News Asia

ARA Asset Mgt buys Hyatt Hotels portfolio in global blitz
ARA Asset Management has bought a sizeable portfolio of Hyatt hotels that represents not just its maiden entry into the US but also what observers say could be Singapore’s first pure-play US hotel Reit listing.
— The Business Times

Leadership departures compound Asia Fashion’s many ills
ASIA Fashion Holdings may now find it even harder to cure its ills after yet another key executive abandoned the health food products distributor.
— The Business Times (paywall)

Data Republic raises $16m in Series B funding from Singtel Innov8, Qualgro, others
Data-sharing platform Data Republic is raising $16.2 million (A$22 million) in a Series B funding round led by Singtel Innov8, the corporate venture arm of Singtel Group. Other investors include Singapore Airlines and existing investors, Qualgro, ANZ, Reinventure and Ryder Innovation Fund.
— Deal Street Asia

Värde Partners raises $400m for Asia Credit Fund, exceeds target by 60%
Global alternative investment firm Värde Partners raised about $400 million for its first dedicated Asia Credit Fund, exceeding its target of $250 million.
— Deal Street Asia

Aussie startup Data Republic to expand with funding from Singtel’s Innov8 and SIA
Australian tech startup Data Republic is set to expand its presence in Singapore with funding from Singapore Airlines (SIA) and Singtel’s venture fund Innov8.
— The Edge

Singaporean elders’ tryst with digital inclusion
(Editorial) While Singapore has been at the forefront in terms of bridging the digital divide among its citizens, elders in the country are yet to emerge as active participants in the online economy.
— Asean Today

Year-long survey on household expenditure completed
AMA survey to collect data on household income and expenditure that started in October last year has been completed, the Singapore Department of Statistics (DOS) said yesterday.
— Straits Times

PUB offers sandbags to residents and business owners in bid to cope with flooding
When residents and shop-owners in low-lying, flood-prone areas start seeing PUB officers more frequently on the ground, they know that the Northeast Monsoon season is around the corner.
— The Independent sg

Southeast Asian districts popular for expat living
The number of expatriates moving to Southeast Asia in recent years has increased significantly owing to increased job opportunities and high growth emerging markets in the region.
— asiancorrespondent.com

Woman jailed for role in cheating engineering firm of S$10 million
A former employee of an engineering firm was sentenced to three years and nine months in jail on Tuesday (Dec 4) for her role in cheating the company of millions of dollars.
— Channel News Asia

 

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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Mark Roy

Copy Editor at AEC News Today

A professional photographer of 20 years experience, Roy has worked as editor of newspaper mastheads across Australia, from Albany in the south-west to Torres Strait in the north-east.

In 2009 he was Lifestyle Editor of Cambodia’s only award-winning newspaper, The Phnom Penh Post, and Deputy Editor at the launch of its weekly magazine, 7Days.

He holds a Postgraduate Diploma in Journalism and a Bachelor of Arts in Photomedia.

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