Singapore Morning News For July 2

SMRT posts loss of $86m in FY2018
In the financial year ending March 31, trains on the East-West Line travelled about 13 per cent longer on average before encountering a delay of more than five minutes.
— The New Paper

Targeted security attacks underway in Southeast Asia
Southeast Asia has come under increased cyber attacks throughout 2017 and 2018, according to threat intelligence findings from Palo Alto Networks.
— Channel Asia Singapore

Childcare subsidies to be reviewed
The Early Childhood Development Agency (ECDA) will be reviewing its preschool subsidy framework, announced Social and Family Development Minister Desmond Lee on Sunday (Jul 1).
Read more at https://www.channelnewsasia.com/news/singapore/childcare-subsidies-to-be-reviewed-10487972
— Channel NewsAsia

Income inequality in Singapore
Singapore as a nation is often seen as being materialistic when compared to its regional peers, with a 2012 study by the Lee Kuan Yew School of Public Policy’s Institute of Policy Studies (IPS) finding that even Singaporeans view their society as kiasu (afraid to lose), competitive and materialistic.
— The Asean Post

Asean-led trade initiative set for boost: Minister Chan Chun Sing
The ambitious deal is on track for a substantial agreement by the end of this year, Minister for Trade and Industry Chan Chun Sing said yesterday.
— The New Paper

Singapore terrorism threat at highest since 9/11
Singapore faces its highest terrorism threat level since the time of the 11 September attacks in the United States (US) in 2001 and the 2002 Bali bombings, Singapore’s defense minister said.
— The Asean Post

CIMB rolls out “first online application” for Singapore-dollar fixed deposit
CIMB Bank Singapore has rolled out an online Singapore-dollar fixed deposit application service for new customers.
— The Business Times (paywall)

Fixing issue of falling facades in HDB blocks
Less than a year after moving into her new three-room HDB flat at Bendemeer Light, a decorative panel fell from the 40th storey of Block 10B, where housewife Betty Tan lives.
— The Straits Times (paywall)

Line Confirms the Singapore Launch of Its First Cryptocurrency Exchange
Technology giant Line will enter the cryptocurrency ecosystem. Japan’s leading messaging service will set up their first crypto trading platform in July of 2018. This new venture will be established in Singapore and offer token-to-token trading. Some regions will not be able to access this new platform for the foreseeable future.
— Live Bitcoin News

oBike says it’s working to refund deposits, collect remaining bicycles
Bike-sharing operator oBike on Sunday (Jul 1) said it is working with the relevant parties on a solution to refund users’ deposits.
— Channel NewsAsia

Singapore open to exploring security cooperation with Malaysia in waters around Pedra Branca: Ng Eng Hen
Singapore welcomes Malaysia’s suggestion of security cooperation in the waters around the once-disputed Pedra Branca and Middle Rocks and is keen to explore joint patrols or search-and-rescue missions, said Defence Minister Ng Eng Hen.
— The Straits Times

Sex, spas, sleaze: what Orchard Road of Singapore hides in plain sight
It is evening on a sultry Sunday and a meandering crowd of families, tourists and food delivery riders jostle for space on the footpath outside Concorde Hotel. Yet all is still and silent inside the building’s shopping wing, except for two units offering massage and facial services.
— Yahoo News

Rochor Centre to be torn down floor by floor
Floor by floor, the iconic multi-coloured Rochor Centre will be torn down over the next 10 months, with demolition work starting yesterday morning.
— The Straits Times

Video shows how to dismantle oBike lock for personal use
A video has been put up on Facebook to show everyday Singaporeans how to dismantle the locking mechanism for oBikes so the bicycles can be used:
— Mothership

Singapore sex toy sales buzzing thanks to ‘healthy’ branding
When Singapore sex toy shop U4Ria opened 18 years ago, co-founder Lincoln Chua had just one competitor – House of Condom, a short walk away in Lucky Plaza.
— SCMP

‘Submarines like BMWs’: A closer look at the Navy’s newest, custom-made German submarine
More than 30m under the waters around Singapore, where light hardly penetrates the murky depths, noise is perhaps the last thing you would expect.
— Channel NewsAsia

Singapore to announce F-16 fighter jet replacement plans in few months
Singapore will announce in the next few months plans to replace its ageing F-16 fighter jets, its defense minister said, listing a number of manufacturers that could be in the running for a deal potentially worth billions of dollars.
— CNBC

5 STI stocks consistently raised dividends over past half-decade
Five Straits Times Index (STI) stocks that have consistently increased their dividends over the past five years are Sats, ComfortDelGro, Jardine Matheson, Jardine Strategic and Hongkong Land.
— The Straits Times (paywall) (annoying popups)

Japan’s Coca-Cola Clear now available in Singapore
The latest product to emerge from the “clear drinks” trend from Japan has hit Singapore – the Coca-Cola Clear, first launched in Japan earlier this month, is now available in Singapore.
— Yahoo Lifestyle

Rush to wait, wait to rush? Singapore Army rolls out new app for NSmen
The inefficient use of time in the army, synonymous with the phrase “rush to wait, wait to rush”, is a common gripe among soldiers — where the rank-and-file are often hurried, only for them to end up waiting.
— Todayonline

Women show patriotic spirit by signing up for SAF volunteer corps
Undeterred, the Singapore Armed Forces Volunteer Corps volunteer (SV) dyed her hair black in an unconventional place – a car park.
— The New Paper

SAF scores an ‘A’ for securing Trump-Kim Summit against external threats: Ng Eng Hen
Sentosa was not the ideal venue for the Trump-Kim summit given its exposure to potential threats from the sea, air and mainland, Defence Minister Ng Eng Hen said on Friday (June 29) in a wide-ranging interview ahead of Singapore Armed Forces (SAF) Day this weekend.
— Todayonline

International columnist: PAP’s high Ministerial salaries cannot be justified given their mediocre performance
Writing for international website The News Lens on Friday (29 Jun), columnist Justin Hugo opined that the high ministerial salaries for PAP leader cannot be justified given their mediocre performance.
— TOC

Is Singapore Telecommunications Limited’s (SGX:Z74) Balance Sheet A Threat To Its Future?
Singapore Telecommunications Limited (SGX:Z74), a large-cap worth S$50.27b, comes to mind for investors seeking a strong and reliable stock investment. One reason being its ‘too big to fail’ aura which gives it the appearance of a strong and stable investment.
— Simply Wall Street

New Senior Minister of State Edwin Tong: Overall public trust in PAP Govt remains healthy
In the long interview with Channel News Asia which was published today (1 Jul), new Senior Minister of State for Law and Health said that the overall public trust in the PAP Government has remained healthy.
— TOC

Feature photo Ravenblack7575

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 July 2 added by John Le Fevre on July 2, 2018
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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.