Singapore Morning News For June 20

Singapore loses top spot to US in global ranking of digital competitiveness
Singapore lost the top spot and dropped to second place in a digital competitiveness ranking of 63 economies, pipped by the United States in a move up from third place last year.
— The Straits Times

US Treasury Department targets Singapore for money laundering
Last month, the Asia Sentinel reported that the US Treasury Department has initiated a wide-ranging campaign against money laundering particularly targeting the governments in Cyprus, Beirut, Singapore and the Gulf states (‘US Mounts Major Global Anti-Money-Laundering Campaign’, 31 May).
— The Online Citizen

Civil servants to get 0.5-month mid-year bonus, one-off lump sum payment of at least S$300
Civil servants in Singapore will receive a 0.5-month mid-year bonus and a one-off payment of at least S$300, the Public Service Division (PSD) said on Tuesday (Jun 19).
— Channel NewsAsia

CSA Singapore Cyber Landscape 2017: Cyber threats in Singapore grew, mirroring global trends
On 19 June, the Cyber Security Agency of Singapore (CSA) released its Singapore Cyber Landscape 2017 publication, which highlights facts and figures on cyber threats that Singapore faced in 2017, as well as the need to build up cyber resilience.
— Open Gov Asia

SP Group to build Singapore’s largest public electric vehicle charging network by 2020
ENERGY utilities provider SP Group announced on Tuesday plans to build 500 Electric Vehicle (EV) charging points islandwide by 2020.
— The Business Times (paywall)

Singapore telcos expect partner ecosystem boom
Half of communications service providers in Singapore expect to improve revenue by at least 16% in just two years by leveraging partner ecosystems, according to a new study from BearingPoint.
— Telecomasia.net

AmCham S’pore urges US to join trans-Pacific trade pact
THE American Chamber of Commerce in Singapore (AmCham Singapore) has called on the United States to join the trade pact which has replaced the Trans-Pacific Partnership (TPP), from which the US withdrew in January 2017.
— The Business Times (paywall)

New food hygiene award scheme to replace current grading system by 2020
A new three-tier award system for food hygiene, which will factor in operators’ track record, will replace the current grading system by late 2020, the National Environmental Agency announced on Tuesday (June 19).
— Today Online

Singapore stocks tumble to 9-month low after new Trump tariff threat
Singapore’s stock market closed at a nine-month low on Tuesday (Jun 19) as investors around Asia went on a selling spree amid the escalating trade dispute between the United States and China.
— Channel NewsAsia

SMEs still upbeat about rest of the year, but trade tensions weigh on sentiment
SINGAPORE’S small and medium-sized enterprises (SMEs) remain upbeat about their prospects for the second half of this year, but caution has crept in as a result of the ongoing US-China trade tensions.
— The Business Times (paywall)

Ecosystm bumps up vendor selection advisory with new consultancy hire
Consulting veteran Sid Bhandari has joined Singapore-based Ecosystm as director of consulting and advisory services, vacating his role at IDC in the process.
— Channel Asia Singapore

Lessons Singapore learned in building smart city
National Development Minister Lawrence Wong said yesterday the United States-North Korea summit, held in Singapore last week, showed the country can organize a “complex operation at short notice”.
— Inquirer.net

Singapore tech firm Sea raises S$780m in fresh funds to bolster e-commerce bet
Singapore technology company Sea on Tuesday (Jun 19) announced that it has raised US$575 million (S$780.2 million) in fresh funds from its convertible notes offering, which it will use to grow its e-commerce platform Shopee.
— Channel NewsAsia

Institute of Policy Studies organises inaugural Community Forum
The inaugural Community Forum organised by the Institute of Policy Studies (IPS) stood out for Mr Gerard Ee, who has spoken at other events hoping to tap his expertise.
— The Straits Times

Future of logistics in Singapore ‘cannot be more exciting’
ON April 30 this year, the National Trades Union Congress (NTUC) set up the Supply Chain Employees’ Union (SCEU) to support the development of skills and competencies of employees in Singapore’s logistics and supply chain sector.
— The Business Times (paywall)

Is Singapore really going completely cashless?
In a move towards a cashless nation, two more banks, OCBC Bank and UOB have joined the Nets to allow payment through a mobile wallet application.
— The Independent Singapore

Singapore chosen as site for Kantar’s first advanced analytics regional hub
WPP-owned global insights consultancy, Kantar, is partnering the Singapore Economic Development Board (EDB) to launch here its first research and development hub in Asia.
— The Straits Times

Guan Eng: Let’s give Singapore some competition
Finance Minister Lim Guan Eng told a group of entrepreneurs that it is time that Malaysia gave some healthy economic competition to Singapore.
— The Online Citizen

Immigration investigators bust one of the biggest sham marriage syndicates; 17 involved
A barbecue at East Coast Park nearly four years ago was where two men hatched a plan that spawned a series of sham marriages between Singaporean men and Vietnamese women.
— The Straits Times

High Court grants Hyflux six-month reprieve from creditors | Video
Water treatment firm Hyflux’s application for an extended six-month moratorium was given the green light by the High Court on Tuesday (Jun 19), as the company said it is in preliminary talks with more than 20 interested parties for rescue financing of up to S$200 million. Channel NewsAsia’s Brandon Tanoto has the details.
— Channel NewsAsia (video)

Feature photo Salmiac

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 June 20 added by Leakhena Khat on June 20, 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.