Singapore Morning News For February 9

Singapore households are richer by 15.5% versus five years ago
On average, they earned around $9,023 in 2017.
Singapore’s median monthly household income gained by 15.5% within 2012 to 2017, translating to a rate of 2.9% per year, the Department of Statistics (SingStat) revealed.
— Singapore Business Review

Singapore high GDP gives it supremacy in Southeast Asia’s eCommerce
Malaysia is on par with Singapore with 74% share of mobile traffic and though Malaysia saw a steady increase from the past year, Singapore remains supreme in the state of eCommerce in the region.
— The Independent Singapore

Singtel Q3 profit falls 9%
Singtel has reported a 9% decline in profit for its fiscal third quarter to S$890 million ($671.7 million) as a result of declining voice revenues, higher costs and lower earnings from the operator’s regional mobile associates.
— Telecom Asia

Govt transfers, taxes keep income gap at bay
SINGAPORE’S income inequality changed little in 2017 from 2016, as government transfers and taxes narrowed the gap between the rich and poor, according to a Department of Statistics (DOS) report released on Thursday.
— The Business Times

Bak kwa popcorn: Singaporean start-up launches new locally-inspired range
Singaporean start-up The Kettle Gourmet is branching out into local-flavoured popcorn such as bak kwa, and will soon launch more exotic flavours such as chicken rice and chilli crab.
— Food Navigator-Asia

Singapore must help shape international law: Indranee
Singapore must actively help to shape international law, Senior Minister of State for Finance and Law Indranee Rajah said yesterday.
— The Straits Times (paywall)

Mondelēz unveils its first Asian innovation centre in Singapore
Multinational confectionery group Mondelēz International recently unveiled its first operational Technical Centre for research and innovation in Asia, in Singapore.
— Food Navigator-Asia

CNY hongbao rates in Singapore 2018 – everything you need to know
Young Singaporean parents or newlyweds giving out Chinese New Year hongbaos for the first time often have no clue about the market CNY hongbaorates and traditions surrounding hongbao giving.
— Asia One

CAAS, NTU commit up to $61 million more for air traffic management research
The Civil Aviation Authority of Singapore (CAAS) and Nanyang Technological University (NTU) have extended their partnership in air traffic management research for another five years.
— Channel NewsAsia

Rwanda, Singapore sign aviation training agreement
Rwanda Civil Aviation Authority (RCAA) and the Civil Aviation Authority of Singapore (CAAS) have signed an agreement that will see the latter train Rwandan officials in the aviation industry.
— The New Times Rwanda

Is Singapore really as boring as everyone thinks?
What’s in a number? What’s in a figure of, say, 138.2? Or 98.7? Or 15,000? Or 32?
— Telegraph

Online love scam syndicate busted by Singapore and Malaysian police
Singapore and Malaysian police have busted a cross-border love scam syndicate that is believed to have cheated its victims of more than S$240,000.
— Channel NewsAsia

Environment Ministry follows MOF’s lead; pays ‘influencers’ to promote climate action
The Ministry of the Environment and Water Resources (MEWR) has taken a leaf out of the Ministry of Finance’s (MOF) books and paid 28 social media ‘influencers’ to promote climate action in Singapore.
— The Independent Singapore

New air cargo facility to increase handling capacity to 5.4 million tonnes yearly
A new airfreight facility that will be built as part of the Changi East project will increase Singapore’s air cargo handling capacity from 3 million tonnes to 5.4 million tonnes per year.
— Channel NewsAsia (video)

Wijet’s 16-plane deal is Honda’s single biggest order
HONDA Aircraft, which delivered its first light business jet in late 2015, has announced its single largest order to date – 16 aircraft for European air taxi company Wijet.
— The Business Times

Taskforce on formula milk reports 4.8% drop in average prices
The average price of infant formula milk powder has dropped 4.8 per cent since May last year, Senior Minister of State of Trade and Industry Koh Poh Koon said on Thursday (Feb 8).
— Channel NewsAsia

Startups key to Singapore’s digitisation charge, says IMDA chief
THE Infocomm Media Development Authority (IMDA) – the key government agency spearheading the drive to “digitise” the nation and build a competitive infocomm media sector – is betting on startups to drive its efforts.
— The Business Times

Singapore’s Ezion bags $1.5b refinancing package from secured lenders
A group of banks – DBS, OCBC, UOB, Maybank, and CIMB – and Caterpillar Financial have agreed to provide Ezion Holdings with a refinancing package of approximately $1.5 billion, which will stretch over six years.
— DealStreetAsia

Stolen clothes worth S$9,000 recovered, two women arrested
The police have recovered 167 pieces of stolen clothes, valued at close to S$9,000, and arrested two 34-year-old women for their suspected involvement in a series of shop theft cases.
— Channel NewsAsia

Feature photo Justin Zhuang

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 9 added by Leakhena Khat on February 9, 2018
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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.