Singapore Morning News For July 5

Singapore Morning News For July 5

Singapore morning newsSingapore economy to grow 2.5-3.5% amidst trade frictions: MAS
Amidst risks arising from the global economy, Singapore’s economy is expected to remain on a steady expansion path in 2018 and overall GDP growth to hit 2.5-3.5% in 2018, Monetary Authority of Singapore (MAS) managing director Ravi Menon said.
— Singapore Business Review

$120m fund injection to make Singapore’s aviation industry more efficient and innovative
To accelerate plans to make Singapore’s aviation industry more efficient and innovative, another $120 million will be set aside to support various initiatives.
— The Straits Times

S’pore authorities investigating ‘certain individuals’ linked to 1MDB scandal: MAS chief
The Monetary Authority of Singapore (MAS) is scrutinising new information emerging from Malaysia and elsewhere on the 1MDB scandal, as investigations by Singapore authorities into individuals continue, said MAS managing director Ravi Menon on Wednesday (July 4).
— TodayOnline

Singapore IPO proceeds plummeted 20% to US$408m
The number of Singapore initial public offerings (IPO) YTD plunged by 30% to seven, bringing their proceeds down as well by 20% to US$408m, EY revealed.
— Singapore Business Review

Early balloting for P1 places likely at CHIJ St Nicholas Girls’, Catholic High School and Henry Park Primary
Parents hoping to get their children into three of the most popular primary schools might have to face balloting at what is considered to be an early point in the annual registration exercise.
— The Straits Times (annoying popups)

Singapore looks forward to sustained cooperation and engagement with India
Singapore looks forward to a period of sustained cooperation and engagement with India as there are tremendous opportunities for growth and development for both countries, the city state’s Senior Minister of State Dr Janil Puthucheary said.
— Money Control

Chart of the Day: Singapore’s foreign reserves grew by $8.5b in 2017
This chart from the Monetary Authority of Singapore (MAS) shows that Singapore’s official foreign reserves (OFR) gained $8.5b for FY2017/2018.
— Singapore Business Review

Risks to global economic growth have increased ‘significantly’: MAS
Singapore’s central bank said tail risks to global economic growth have increased “significantly” in the past six months because of a pick-up in inflation and trade tensions.
— TodayOnline

Public accountant who allegedly pocketed $40m goes on trial
A certified public accountant who allegedly pocketed more than $40 million from 21 companies he was liquidating and another one for which he was managing its finances, went on trial in the High Court yesterday.
— The New Paper

MAS cautions developers of overbidding while foreign developers aggressively bid up S’pore land price
At the Monetary Authority of Singapore (MAS) annual report media briefing today (4 Jul), MAS managing director Ravi Menon cautioned developers when making their land bids. He said developers should bear in mind of the land supply that is coming on-stream.
— TOC

New formats, ticket revamp for Singapore Sweep lottery
From today, the lottery tickets will no longer be pre-printed with thematic designs, and punters will have the opportunity to buy tickets with some numbers of their choice.
— The StraitsTimes

Should Singapore’s housing market anticipate more cooling measures?
In his speech at the launch of the Monetary Authority of Singapore’s (MAS) annual report, managing director Ravi Menon briefly mentioned how Singapore’s property market has seen a “resurgence” in prices and transactions.
— Singapore Business Review

Singapore needs to watch out for spillover effects from trade tensions: MAS
While the impact from rising trade tensions remains limited thus far with the economy expected to stay on a “steady expansion path”, Singapore needs to guard against potential spillover effects, said Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).
— Channel NewsAsia

Can Singapore build more sustainable industries?
At this year’s Eco Action Day Industry Roundtable 2018, participants discussed how to build more creative and resourceful industries and infrastructure for a more sustainable Singapore.
— Eco-Business

Deliveroo introduces halal-only delivery bags in Singapore
Food delivery service Deliveroo has begun distributing halal-only delivery bags to half of its riders in Singapore to cater to the growing number of Muslim customers and halal restaurants.
— The Straits Times

Concerns raised over lack of public transport serving new Seletar Airport passenger terminal
The new S$80 million Seletar Airport passenger terminal is on track to open by the end of the year, but concerns have been raised about the facility’s accessibility, given the dearth of public transport options for now.
— TodayOnline

Singtel hit by islandwide broadband outage on Wednesday morning
Singtel users experienced disruption in their internet access across Singapore around 9AM on Wednesday.
— Singapore Business Review

Co-working spaces to grow 42% to 1.4 million sqft in 2018
To increase their competitive edge, some co-working operators have incorporated unique themes and services, like The Great Room’s lavish interiors and custom-made furnishings.
— Singapore Business Review

Six charged in alleged MLM scheme on forex
The director of a company on the Monetary Authority of Singapore’s (MAS) investor alert list, together with five of his associates were hauled to court on Wednesday (July 4) for suspected involvement in a multi-level marketing (MLM) scheme.
— TodayOnline

ShareBikeSG exits Singapore
ShareBikeSG will cease its operation just a week after oBike’s exit, the bike-sharing startup announced through their Facebook page.
— Singapore Business Review

MAS chief advises caution, sounds warning on ‘euphoric’ property market
The Monetary Authority of Singapore (MAS) managing director Ravi Menon has advised developers, home buyers and banks to exercise caution amid “euphoria” in the current property market.
— TodayOnline

Singapore’s Health Promotion Board to speak at Innovation Labs World
The Health Promotion Board (HPB), Singapore’s agency in promoting healthy lifestyles, will speak about designing citizen-centric services at Innovation Labs World on 25 September.
— GovInsider

Top-level management in Singapore’s e-commerce industry is facing some serious gender disparity – and it could learn from its fashion sector
As Singapore’s booming e-commerce industry continues to expand, gender gaps in one of the country’s most valuable markets have become ever more apparent among high-level management.
— Business Insider

Sheng Siong could open more than 6 stores in 2018
CGS-CIMB analyst Cezzane See found that Sheng Siong has two pending bids for stores at least 10,000 sqft in size. It placed a bid of $82,100 and $54,000 for a store in BT Batok East Avenue 6. It also participated in the tender for a Sumang Lane store and placed bids of $80,200 then $93,000.
— Singapore Business Review

Singapore shines in Smart Travel poll
Singapore, its national airline and airport outshined neighbours in the 14th edition of the 2018 Best in Travel Poll by Smart Travel Asia, an online magazine.
— TTR Weekly

PUB aims to double water supply by 2060 without using more energy or producing more waste
National water agency PUB has set a target to meet future demand by doubling the amount of clean water it produces today by 2060 without using more energy.
— TodayOnline

Singapore’s Anchanto raises $4 M investment led by Telkom Indonesia’s MDI Ventures
Singapore headquartered pan-Asia SaaS technology company Anchanto on Wednesday announced raising $4 million in the first round of its ongoing Series C investment, led by MDI Ventures, Telkom Indonesia’s corporate venture capital arm.
— Your Story

Couple awarded by SCDF for saving man who collapsed
Just as the couple were about to get into a Grab car, they saw a man collapse on the road near a Jalan Besar coffee shop last Wednesday.
— The New Paper

Is the worst over for ComfortDelGro?
ComfortDelGro’s taxi fleet in April stood at 12,627, indicating a somewhat flat decline from March (12,687). Even if it still down from 15,800 in April 2017, this could show that the worst is already over for the taxi firm, DBS Equity Research said.
— Singapore Business Review

Ongoing transformation of industries and work: Why it matters
Singapore can take advantage of the transformational effects of new technologies on supply chains and business models
— The New Paper

ThoughtWorks and AI Singapore Sign Memorandum of Understanding
ThoughtWorks, a global software and digital transformation consultancy, and AI Singapore signed a Memorandum of Understanding (MoU) today to promote training, research and development in the areas of analytics and artificial intelligence (AI) adoption, deployment and best practices.
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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 35 years experience as a journalist, photographer, videographer and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia.

He has covered major world events including the 1991 pillage riots 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.

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