Singapore Morning News For March 20

Singapore Morning News For March 20

Singapore morning news

MAS fines StanChart Singapore S$5.2m for anti-money laundering, terrorism financing breaches
Standard Chartered Bank, Singapore Branch (SCBS) has been fined S$5.2 million and Standard Chartered Trust (Singapore) Limited (SCTS) has been fined S$1.2 million for breaches of the Monetary Authority of Singapore’s (MAS) anti-money laundering and countering the financing of terrorism requirements.
Channel NewsAsia

Alibaba to invest another $2b in Lazada, replaces CEO
Alibaba Group Holding Ltd. will invest another $2 billion in Southeast Asian e-commerce platform Lazada and install one of its most senior executives to run the business, it announced on Monday.
Deal Street Asia 

90k employers in Singapore to receive more than S$800m under WCS
By end of this month (31 March 2018), over 90,000 employers in Singapore will receive more than S$800 million in payouts under the Wage Credit Scheme (WCS).
Human Resources Online

Parliament approves ‘comprehensive, progressive’ suite of new criminal justice reforms
In a sweeping reform of the criminal justice system, 52 changes to the Criminal Procedure Code (CPC) and Evidence Act (EA) were passed in Parliament on Monday (Mar 19).
Channel NewsAsia 

Telco and solar energy firm partner to enter Singapore’s Open Electricity Market
StarHub and Sunseap are entering Singapore’s Open Electricity Market, starting with the Energy Market Authority’s soft launch in Jurong in April. The full liberalisation of the retail electricity market will happen in the second half of this year.
Open Gov Asia

Singapore Residential Site Sells to Billionaire Quek for S$980 Million
Quek teams up with Singapore cousin Kwek on transaction
Billionaire Quek Leng Chan’s GuocoLand Ltd. and its joint venture partners are buying Pacific Mansion near Singapore’s business district for S$980 million ($743 million), the biggest purchase of a residential site for redevelopment in more than a decade.
Bloomberg 

Singapore professionals rank happiness and health higher than career progression as success indicators: LinkedIn
Money isn’t everything, and young professionals in Singapore seem to know that it certainly can’t buy you happiness.
Business Insider 

Singapore reaffirms warm bilateral defence ties with South Korea during Ng Eng Hen’s visit
Singapore and South Korea reaffirmed their warm bilateral defence relations on Monday (March 19) during a visit to Seoul by Singapore’s Minister for Defence Ng Eng Hen.
The Straits Times (paywall)

The authorities given powers to inspect North Korea cargo in transit under new law
In order to fulfil its obligations as a member of the United Nations (UN), Singapore on Monday (March 19) passed a law extending powers to authorities here to search, inspect, and seize goods originating from or destined for North Korea that are in transit on a vessel or aircraft.
Today Online 

Changi Airport to channel part of its profits into two funds
Changi Airport will soon have to park part of its annual profits in two funds, as part of the Government’s plans to ensure enough resources to deal with aviation crises and support future expansion.
The Straits Times (paywall)

PM Lee meets Obama during former US President’s visit to Singapore
Prime Minister Lee Hsien Loong met former United States President Barack Obama in Singapore on Monday (Mar 19), in their first meeting since 2016.
Channel NewsAsia 

TPG, Singapore’s 4th telco, offers 2-year free mobile plan for citizens aged 65 and above
The Republic’s fourth telco, Australian operator TPG, aims to start its services in the second half of the year and is looking to attract elderly users here with a mobile plan that would be free for the first two years.
Today Online 

Trade ministry names 18 to Enterprise Singapore board
THE Ministry of Trade and Industry (MTI) has appointed 18 people – including prominent members of the business community – to the board of Enterprise Singapore with effect from April 1.
The Business Times

GuocoLand billionaire, partners buy prime Singapore property for $743m
Billionaire Quek Leng Chan’s GuocoLand Ltd. and its joint venture partners are buying Pacific Mansion near Singapore’s business district for S$980 million ($743 million), the biggest purchase of a residential site for redevelopment in more than a decade.
DealStreetAsia

1 out of more than 6,000 SAF personnel deployed overseas diagnosed with PTSD
In the last two decades, one serviceman out of more than 6,000 Singapore Armed Forces (SAF) personnel deployed overseas was diagnosed with post-traumatic stress disorder (PTSD) after his stint abroad.
Today Online 

 

Feature photo Carolien Coenen

 

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.

 

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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.

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