Singapore Morning News For July 12

Singapore Morning News For July 12
Estimated Reading Time: 5 minutes |

Singapore morning newsSingapore says Hong Kong turned down 2016 request to arrest key figure in 1MDB case
Singapore on Wednesday said Hong Kong had turned down its request in 2016 to arrest Malaysian financier Low Taek Jho, who is wanted in connection with an alleged multi-billion-dollar graft scandal at Malaysian state fund 1MDB.
— Reuters

Singapore can continue to help in bid to denuclearise Korea: Moon
Singapore can continue to play a constructive role after hosting the historic United States-North Korea summit, and has strengths that “will be of great help in materialising” the denuclearisation of the Korean peninsula, South Korean President Moon Jae-in said this week.
— Straits Times

Temasek focused on tech, life sciences, and agribusiness for new investments in 2018
They comprised 26% of its $29b investment total.
— Singapore Business Review

Summit boosts Singapore occupancy
Singapore’s hotels enjoyed an occupancy increase of 5.5% in June giving the island state’s hotels an average occupancy of 83.1%.
— TTR Weekly

Singapore could release inflation data on demographic groups
Minister Chan Chun Sing said they are particularly concerned about retirees as a consumer group.
— Singapore Business Review

Ex-Lazada vets started a lending company for SMEs. Over 100 clients later, they raised $9m
The lending woes of small and medium-sized enterprises have been a focus for many startups.
— TechinAsia

Singapore’s Royal Group raises S$300m in Islamic financing from RHB
Real estate firm Royal Group has raised S$300 million in sharia-compliant financing from RHB Bank Singapore, helping widen the range of Islamic finance deals in Southeast Asia’s main financial hub.
— Channel News Asia

Sustainable packaging and ingredients to take centre-stage at Singapore summit
The second Asia-Pacific edition of the Sustainable Foods Summit will feature expert insights on sustainable packaging, ingredients, and marketing.
–Food Navigator-Asia

China and Thailand leap up in innovation capability ranking
Asian economies are climbing up the ranks of global innovation, with Singapore reaching the top five and China cracking the top 20 for the first time in this year’s annual Global Innovation Index released Tuesday.
— Nikkei Asian Review (paywall)

SIA to launch non-stop flight to Los Angeles on Nov 2
Singapore Airlines (SIA) will launch non-stop flights between Singapore and Los Angeles (LA) on Nov 2, and increase capacity on its flights to San Francisco – as part of plans to boost services to the United States.
— The Straits Times

Singapore Press Holdings Q3 profits up 64.3% to $47.44m
Singapore Press Holdings’ (SPH) profits for the third quarter of 2018 jumped 64.3% from $28.87m last year to $47.44m.
— Singapore Business Review

No penalty for not implementing environmental impact mitigation measures: Sun Xueling
Developers are not penalised for not implementing proposed environmental impact mitigation measures, said Senior Parliamentary Secretary for National Development Sun Xueling in Parliament on Wednesday (July 11).
— Channel News Asia

Chart of the Day: Singapore’s top exports to US hit by trade conflict tariffs
This chart from OCBC Treasury Research & Strategy shows Singapore’s top exports to the US. Leading the way are machinery & transport equipment (32.4%), chemicals & related products (30.3%), miscellaneous manufactured articles (16.5%), commodities & transactions (14.7%), electrical machinery (7.7%), office machinery (5%).
— Singapore Business Review

Two motorcycles involved in accident with lorry on PIE
Two motorcycles crashed into a lorry on the Pan-Island Expressway (PIE) on Wednesday morning (July 11).
— The Straits Times

ST Engineering wins S$54m contract to supply 111 double-deck public buses
Local firm ST Engineering Land Systems has won a S$54 million contract to supply 111 double-deck Euro 6 diesel buses.
— The Business Times

Casa Sophia in District 9 up for collective sale at S$36m
Casa Sophia in District 9 is up for collective sale with a reserve price of S$36 million.
— The Straits Times

Festive treat for the visually impaired
THE atmosphere at YMCA Hall, Brickfields, Kuala Lumpur was festive as a total of 137 visually impaired guests from the Malaysian Foundation for the Blind (MFB) met for a Hari Raya celebration.
— The Star Online

Health Minister Gan Kim Yong reiterates importance of CareShield Life for long-term care needs
A national severe disability insurance scheme, CareShield Life, to be launched in 2020 will be “more than an insurance scheme”, Health Minister Gan Kim Yong said in Parliament on Tuesday (Jul 10).
— Channel News Asia

RHB Bank branch inks Islamic bilateral hotel financing for SG$300 mil
KUALA LUMPUR (July 11): RHB Bank Singapore (RHB BS), a branch of Malaysia’s fourth largest banking group RHB Bank Bhd, has inked the world’s largest Islamic bilateral hotel financing deal with the Royal Group, for a 5-star luxury hotel valued at SG$300 million.
— The Edge Markets

Singapore’s 139-year-old telecom has plans for millennials
Singapore Telecommunications Ltd was around back when the telegraph was still cool. Now the 139-year-old company is experimenting with videogames as a way to raise its profile with millennials.
— The Star Online

Singapore to offer programmes in climate change to Asean: Masagos
From raising minimum land reclamation levels to mitigate rising sea levels, to imposing a carbon tax on large emitters, Singapore has in place a comprehensive suite of measures to help it reduce its carbon emissions and adapt to the impacts of climate change.
— The Straits Times

Body of 54-year-old man found submerged in Singapore River
A male body was found submerged in the waters of the Singapore River on Tuesday (July 10).
— Asia One

Good news! 400 Delhi govt teachers to get training in Singapore
The Delhi government has recently announced that it will send 400 teachers to Singapore for training. The teachers would go to Singapore-based National Institute of Education, said Deputy Chief Minister Manish Sisodia.
— India Today

Inflation data for different Singapore demographic groups could be in the works
IN THE not-so-distant future, Singapore could be unveiling inflation data to track price changes for various demographic groups such as retiree households or families with school-going children, instead of just looking at household income.
— The Business Times

 

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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.

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