Singapore Morning News For June 28

Singapore’s perceived openness to blockchain, cryptocurrency tech a cybersecurity risk: CrowdStrike VP
There is a need to be aware of online threats revolving around cryptocurrencies like bitcoin and blockchain given how Singapore is being seen as “favourable” to such technologies, CrowdStrike vice president Adam Meyers suggested.
— Channel NewsAsia

3M launches one of Singapore’s largest solar farms
One of Singapore’s largest solar farms, which can produce enough energy to power 500 four-room Housing Board flats, was officially opened on Wednesday (June 27).
— The Straits Times

NUS sets up joint lab to drive innovation in food tech and sustainable biochemicals
The S$110 million research facility will deepen knowledge of good macronutrients and micronutrients, food products and ingredients, as well as design eco-friendly bio-factories to produce industrial biochemicals
— Open Gov Asia

Singapore Millennials Prefer Property
Singapore millennials aren’t all selfie-obsessed narcissists blowing their pay on avocado toast.
— Bloomberg

End of an era as Epicentre and Apple part ways in Singapore reseller split
For many years, Epicentre served as one of the few authorised resellers for Apple in Singapore.
— Channel Asia Singapore

Singapore government keeps pace in residential land supply for H2 2018
THE Government will be launching six land parcels for sale in the second-half of this year on the Confirmed List of the Government Land Sales (GLS) Programme, including the first hotel site in several years.
— The Business Times (paywall)

Singapore in drive to export modern construction to India
The city state’s construction regulator, BCA is several years into a drive to promote prefabrication in the Singaporean construction industry.
— Global Construction Review

Wealth manager Navicom International expands into Singapore
The firm has secured a capital markets services (CMS) licence from the Monetary Authority of Singapore (MAS) and the new office is expected to be operational by the end of this year. It will offer fund management services to investors with net assets of more than $1.4 million or with an annual income higher than $220,000.
— International Investment

Singapore investment surges as Chinese capital halves: Knight Frank
Soaring appetite from Singaporean investors and a pick-up in capital inflows from Hong Kong, South Korea and Japan more than offset the halving in real estate investment from China last year, Knight Frank figures show.
— Financial Review

Singapore’s DBS Bank to launch India unit by October, says report
DBS Bank is set to start its Indian subsidiary by October, becoming the second foreign bank to open a local unit, Mint reported on Wednesday.
— CNBC

Singapore slides to third place in 2018 sustainable trade index – here’s why the country is being held back from topping the list
Singapore has lost grip of its top position in a sustainable trade ranking and fell to third place among 19 other Asian economies and the US.
— Business Insider

Commentary: Oil prices have gone up and it may affect your electricity bill
Oil prices have gone up, leading to some concerns on the viability of a recently resumed non-stop flight service from Singapore to New York by Singapore Airlines.
— Channel NewsAsia

Has Singapore over aligned itself with “Chineseness”?
For once I agree with former diplomat Bilahari Kaukisan who has said at a recent conference that: “When the Chinese try to impose a Chinese identity on Singapore, we must resist, because modern Singapore is based on the idea of being a multiracial country.”
— The Online Citizen

Small businesses turn to shared facilities to reduce costs | Video
Shared facilities could be a way for small businesses to reduce costs and increase revenue without having to invest in expensive equipment.
— Channel NewsAsia (video)

Nitto’s RO Membranes to Be Used for Singapore’s First Dual-mode Desalination Plant
Nitto Denko Corporation (hereinafter “Nitto”) won a bid to provide reverse osmosis (RO) membranes to the “Keppel Marina East Desalination Plant (also known as KMEDP)” in Singapore.
— AEC News Today/ PR Newswire (media release)

Promising biomedical start-ups in Singapore
Biotech company MiRXES, co-founded by Associate Professor Too Heng-Phon and Dr Zhou Lihan, has developed technology kits that can detect early-stage gastric cancer, breast cancer and lung cancer from blood samples.
— The Straits Times

Sky-high projections show a slice of Singapore history
Visitors and Singapore residents alike are flocking to a multimedia show atop the ION Sky, the tallest building in Singapore on the city state’s Orchard Road. Driven by disguise 4x4pro and 2x4pro media servers, the attraction offers a glimpse of the history and heritage of Singapore and Orchard Road when the area was little more than fruit and nutmeg plantations.
— AV Magazine

oBike’s rental bicycles remain uncollected across Singapore, but town councils prepared to take action
The recent shutdown of oBike in Singapore has left thousands of its rental bicycles strewn around the island, but town councils are looking to take action.
— The Straits Times

Government maintains land supply for private housing amid strong developer demand | Video
Despite a “healthy supply” of private housing in the pipeline, the Singapore Government said on Wednesday (Jun 27) it will not cut its supply of land for homes in the second half of this year. Channel NewsAsia’s Wendy Wong with this report.
— Channel NewsAsia (video)

Public and private sector partnerships in defence technology throw up ‘tough questions and moral dilemmas’: Ng Eng Hen
With governments ploughing huge investments in technology and increasingly working with the private sector to develop defence capabilities, there are risks and dilemmas which countries have to grapple with, said Defence Minister Ng Eng Hen on Wednesday (June 27).
— Today Online

Feature photo Michael Coghlan

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 28 added by Leakhena Khat on June 28, 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.