Singapore Morning News For March 5

The House That Lee Built And the Power of Fear (HD video)
A new documentary by Al Jazeera English examines the life and legend of Singapore’s founding father Lee Kuan Yew.
— AEC News Today

Reserves cannot be further tapped for healthcare: PM
Singapore cannot draw more from its reserves to fund healthcare spending in the future, as this will quickly deplete its nest egg, said Prime Minister Lee Hsien Loong.
— The Straits Times (paywall)

Commentary: Singapore, Hong Kong budgets show hongbao mentality must be quelled
When I asked a taxi driver the other day what he thought about the 2018 Singapore Budget, he seemed confused and then with a ray of realisation, clarified: “Do you mean the SG Bonus hongbao?”
— Channel NewsAsia

Singapore Army building Unmanned Watch Towers on Jurong Island
Speaking during the Defence Committee of Supply (COS) Debate in the Singapore Parliament on 2 March, Minister for Defence Dr Ng Eng Hen revealed that the Army will build Unmanned Towers to watch over Jurong Island and the surrounding waters. Jurong Island is a petrochemical, petroleum and natural gas hub in Singapore, linked to the mainland by a 2.3-km causeway.
— Open Gov Asia

RCEP negotiators make progress in Singapore as Japan pushes for year-end deal on trade pact
Ministers from 16 East Asian countries negotiating the Regional Comprehensive Economic Partnership made progress at a meeting in Singapore Saturday but many gaps remain.
— The Japan Times

Singapore to push for ASEAN e-commerce agreement, innovation network
As Singapore takes over the rotating chairmanship of the Association of Southeast Asian Nations (ASEAN) this year, it will push for the roll-out of an e-commerce agreement and an innovation network to give businesses a leg-up when they expand across Southeast Asia.
— Channel NewsAsia

PM Lee praises Low Thia Khiang’s speech on Budget 2018; says it “could have been delivered by a PAP MP”
Prime Minister Lee Hsien Loong has praised veteran opposition leader, Workers’ Party secretary-general Low Thia Khiang’s speech on Budget 2018 in Parliament this week as one that was “was cogent and balanced, firmly based on Singapore’s interests and perspectives”.
— The Independent Singapore

How MINDEF Singapore is using technology to enhance quality and ability of soldiers
The Singapore Armed Forces (SAF) is leveraging wearable technology and data analytics to deliver targeted and effective training for its soldiers.
— Open Gov Asia

Government expenditure set to increase
Building airports, expanding the rail network and improving healthcare come with big price tags. Channel NewsAsia looks at how the Singapore Government can meets its long-term spending needs.
— Channel NewsAsia (video)

CIMB enhances Malaysia-Singapore cross-border banking
CIMB Bank Bhd and CIMB Islamic Bank Bhd (CIMB) have introduced the Cross-Border Solutions, which enables customers with CIMB accounts in Malaysia and Singapore to enjoy seamless and efficient cross-border banking experience.
— The Borneo Post

Singapore PMI down 0.4 point to 52.7 in February
The February reading of the Singapore Purchasing Managers’ Index (PMI) slipped 0.4 point to a slower expansion at 52.7. According to the Singapore Institute of Purchasing and Materials Management (SIPMM), this latest reading was dragged lower by the electronics manufacturing sector on the back of the moderating non-electronics sectors.
— Singapore Business Review

Looming GST hike a ‘prudent and responsible long-term approach’: PM Lee
The move to raise the Goods and Services Tax (GST) in three to seven years’ time will help fund increasing Government spending arising largely from an ageing population, said Prime Minister Lee Hsien Loong on Sunday (Mar 4).
— Channel NewsAsia

Port automation imperative for Singapore: Kalmar
AUTOMATION is not a matter of choice for the Singapore port – it is an imperative if the port nation wants to continue to draw large box ships and major shipping lines to its shores, says a leading port equipment supplier.
— The Business Times

Millennial’s prefer European cities for gay openness & festive mood, not Singapore!
Bangkok, Thailand (No 42) beats both Kuala Lumpur (53) and Singapore (84) in the 2018 Millennial Cities Ranking.
— The Independent Singapore

Grab cuts fee for JustGrab taxi drivers for short trips, but raises commission for higher fares
From Monday (March 5), taxi drivers who pick up bookings on the JustGrab platform will pay less to the ride-sharing firm if the fares are below S$10.
— Today Online

Impact of World Bank’s sanction on SMEC muted, says Surbana Jurong
THE World Bank’s sanction on Australia-based SMEC Holdings, a company owned by Surbana Jurong, will not have a major impact on SMEC as its “dependence on World Bank’s business is small”.
— The Business Times

Scheme to encourage flexible work arrangements enhanced
In a bid to help women juggle career and childcare responsibilities, the Government is enhancing a scheme that helps employers to adopt flexible work arrangements.
— Channel NewsAsia

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.

Singapore Morning News For March 5 added by Leakhena Khat on March 5, 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.