Singapore Morning News For February 23

Singapore Will Levy a Flat Carbon Tax on Companies Starting Next Year
Singapore will begin levying a carbon tax starting in 2019 in an effort to reduce the country’s greenhouse gas emissions and help make companies there more competitive.
— Environmental Leader

Singapore to review penalties for sexual offences, to consider new offences: Shanmugam
Punishments for sexual offences and new penalties for sexual crimes targetting women and children on the Internet are being reviewed by the Government, Minister for Home Affairs and Minister for Law K Shanmugam said on Monday (Nov 27).
— Channel NewsAsia

New institute at NTU Singapore to study impact of technological changes on society
In his inauguration speech, Prof Subra Suresh announced three new initiatives: the establishment of a new institute to tackle the challenges that technological change will bring to society; a new global digital arts prize, and a new fellowship to attract outstanding early-career scientists.
— Open Gov Asia

Demographic time bomb ticks down on Singapore
It is being called a “demographic time bomb.” The impact of a shrinking workforce coupled with a greying population will be among the toughest economic and social challenges Singapore faces in the decades ahead.
— Asia Times

‘Which is better – let him go scot-free, or get him back to face trial?’: Shanmugam on StanChart suspect
The decision to commit to not caning suspected bank robber David Roach was a “fairly obvious” choice between letting him go off scot-free or getting him back to face a trial, said Law and Home Affairs Minister K Shanmugam on Thursday (Feb 22).
— Channel NewsAsia

Singapore eyes 30% stake in Manila airport expansion
Singapore’s Changi Airport Group intends to take a 30% stake in a project put forward by a consortium to expand the Manila airport into a regional aviation hub, according to a local businessman.
— Nikkei Asian Review (metered paywall)

Development projects cementing Singapore–Malaysia ties
The eighth Singapore–Malaysia Leaders’ Retreat held in Singapore from 14 to 15 January 2018 witnessed a milestone in bilateral ties.
— East Asia Forum

StanChart first major foreign bank to consolidate all Singapore operations
STANDARD Chartered Singapore (StanChart Singapore) – which has operated in Singapore for over 150 years – is due to be the first major international bank here to fully consolidate its local business into its Singapore subsidiary.
— The Business Times

Singapore aims for 1500 new jobs, S$5.8b value-add in revamp of marine offshore and
A multi-agency team led by the Economic Development Board (EDB) has charted out a road map to rejuvenate and transform the beleaguered marine and offshore engineering (M&OE) industry.
— The Straits Times (paywall)

Bail provisions and conditions to be tightened: Shanmugam
The authorities will be tightening provisions and conditions for posting bail, Law and Home Affairs Minister K Shanmugam said on Thursday (Feb 22).
— Today Online

Singapore: Solar energy startup SolarHome raises $1.2m
Singapore-headquartered SolarHome, which offers pay-as-you-go (PAYG) solar for off-grid households in Southeast Asia, announced that it had raised another $1.2 million in growth capital via convertible notes to a consortium of backers, including local venture capital firm and return backer Beenext.
— DealStreetAsia

What Singapore And Germany Can Teach The U.S. About Fiscal Policy
The U.S.—with a projected 2018 federal budget deficit of 4 percent of Gross Domestic Product and an economy running at close to full employment—just cut taxes by $1.5 trillion over 10 years, even as it increased net spending by $300 billion over just the next two.
— Forbes

Singapore M&OE remains relevant despite headwinds
SINGAPORE will stay relevant in the global marine and offshore engineering (M&OE) industry despite the recent headwinds from a prolonged sectoral downturn.
— The Business Times

Singapore sounds an optimistic note but eyes tough year ahead as ASEAN chair
he foreign ministers of the Association of Southeast Asian Nations (ASEAN) recently met in Singapore from February 4 to 6. It was the first meeting of regional foreign ministers since Singapore took over ASEAN’s rotating chairmanship from the Philippines earlier this year.
— Brookings

Former City Harvest Church leader Chew Eng Han charged with trying to flee the country
Former City Harvest Church leader Chew Eng Han was charged on Thursday (Feb 22) with attempting to flee the country from Pulau Ubin in a motorised sampan on Wednesday morning.
— Channel NewsAsia

Singapore: Fatfish-backed IT firm Cloudaron to acquire SaaS provider Ubertor for $3.2m
Fatfish Internet Group-backed Cloudaron, a Singapore-based IT solutions company listed in Malaysia, is acquiring Realtors8 Pte Ltd, a subsidiary of ASX-listed 8common Limited that owns and operates Saas provider Ubertor, for S$4.23 million ($3.2 million).
— DealStreetAsia

Marine and offshore engineering sector to diversify growth, go digital, add new jobs by 2025
The beleaguered marine and offshore engineering sector can be “cautiously optimistic about its longer-term prospects”, Mr S Iswaran said, due to opportunities presented by digitalisation and new growth areas such as the booming liquefied natural gas (LNG) market.
— Today Online

Commentary: GST on imported digital services a mouthful but I see what you did there
Two tax experts from PwC discuss the way the GST on imported digital services has been structured – and say it’s well-scoped for a variety of reasons.
— Channel NewsAsia

Progress with digital technology worries Singapore businesses
Companies in Singapore have caught up in technology but 48 percent of them says Action is the most important factor in achieving their digital strategy.
— The Independent Singapore

Migrant workers to get discounts on insurance, remittance with POSB membership scheme
A first of its kind in Singapore, the programme will give migrant workers access to savings as well as services they use on a daily basis through the POSB Jolly app.
— Channel NewsAsia

Sembcorp Industries to list India biz, sell utilities assets
Singaporean industrial conglomerate Sembcorp Industries said on Friday it has begun the process for an initial public offering of its Indian energy business and was planning to sell some utilities assets as part of its strategic review.
— DealStreetAsia

Singapore looks forward to participating in China International Import Expo
Singapore looks forward to participating in the inaugural China International Import Expo (CIIE) and hopes that the companies will take full advantage of the opportunities in an increasingly open Chinese market, through the CIIE platform, said an official on Thursday.
— Xinhua Net

Feature photo Akuppa John Wigham

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 February 23 added by Leakhena Khat on February 23, 2018
View all posts by Leakhena Khat →

Bio
Latest Posts

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.