Singapore Morning News For May 11

Trump-Kim Jong-un summit set for Singapore on 12 June
US President Donald Trump will meet North Korean leader Kim Jong-un in Singapore on 12 June, he has said.
— BBC News

Singapore businesses unfazed; await new KL government’s plans
SINGAPORE’S business community is surprised but unworried by Pakatan Harapan’s (PH) shock victory in Malaysia’s general election, with industry associations waiting to see what the new government’s plans are.
— The Business Times

Indonesian embassy’s new performance bond for maid employers: MOM questions who will mediate in disputes
The Indonesian embassy referred 64 foreign domestic workers with employment issues to Singapore’s Ministry of Manpower (MOM) last year, but there was no breach of regulations in nearly 90 per cent of the cases, the ministry said on Thursday (May 10).
— Today Online

PM Lee, Singapore Government congratulate Mahathir Mohamad on swearing-in
Prime Minister Lee Hsien Loong on Thursday (May 10) congratulated Dr Mahathir Mohamad on being sworn in as Prime Minister of Malaysia.
— Channel NewsAsia

Singapore life sales up 14%, financial services jobs up 10%: SLIA
Sales of life insurance in Singapore have started positively for Q1, with a 14% hike in new business premiums recorded, according to new statistics released by the Life Insurance Association, Singapore.
— International Investment

Is America still open to do business with Singapore SMEs?
The current US administration’s desire to limit foreign imports through protectionist measures has drawn much concern from Singapore businesses, with many asking us if the US is still open for business. Our answer? A resounding YES.
— Singapore Business Review

Innovation, transformation, and investment in workers key for a vibrant S’pore economy
In order to build a vibrant economy, and create opportunities for workers, the Government plans to help businesses innovate and transform as the economy restructures, invest in people to equip them with knowledge and skills for the future, as well as retrain and match workers to jobs.
— Today Online

Singapore looks forward to enhancing cooperation with new Malaysian govt: PM Lee
Prime Minister Lee Hsien Loong said on Thursday (May 10) that he looks forward to working with Tun Dr Mahathir Mohamad and the new government in Malaysia to enhance cooperation, and hopes to “catch up with him in person soon”.
— Today Online

Indonesian maid bond: MOM says embassy referred only 64 cases with employment issues in 2017
The Indonesian Embassy referred 64 foreign domestic workers (FDWs) with employment issues to it last year, the Ministry of Manpower told Channel NewsAsia on Thursday (May 10).
— Channel NewsAsia

Food manufacturing SME proposes integrated dairy hub
HOMEGROWN food manufacturer SMC Food 21 has proposed that a one-stop hub for the dairy industry be set up here, to give Singapore companies a boost in tapping the region’s growing demand for products like infant milk powders, cheese, yogurt, chocolate and ice cream.
— The Business Times

Why Singapore for the Trump-Kim summit?
It has one foot in the East and one in the West, is ultra-modern, secure and sometimes mocked as being a little dull – Singapore was the safe pick for a historic first meeting between the unpredictable leaders of the US and North Korea.
— Channel NewsAsia

Sarment Launches AI-Driven Digital Luxury Platform
Sarment has launched its new digital platform for high-net-worth users to access an international network of luxury brands and premium personal services.
— AEC News Today/ PRNewswire (media release)

Announcement of new Singapore tourism chief imminent
The Singapore Tourism Board (STB) is expected to announce a new CEO shortly as the current chief, Lionel Yeo, is reaching the end of a second three-year term in June – possibly the only STB CEO to have served for six years.
— TTG Asia

Addenda to President’s Address: MOE will continue to ‘dial back overemphasis’ on exam results
The Ministry of Education (MOE) will continue with its efforts to “dial back the overemphasis” on examination results, including changing the Primary School Leaving Examination (PSLE) scoring and enhancing Applied and Experiential Learning in schools, said its minister Ong Ye Kung on Thursday (May 10).
— Channel NewsAsia

Singaporeans wish Tan Cheng Bock will follow Mahathir’s lead and contest the next GE as an opposition candidate
92-year-old Mahathir Mohamad made history last night by defeating the incumbent at the polls and ushering in Malaysia’s first transition of power since independence, at the watershed 2018 Malaysian General Election.
— The Independent Singapore

Singapore: Realty investment portal BitOfProperty closes seed funding round
Singapore-based blockchain-powered real estate investment portal BitOfProperty has secured an undisclosed seed round of financing led by Japanese real estate and housing information services provider LIFULL.
— DealStreetAsia

SMEs should tap on trade links to capture overseas opportunities: Chan Chun Sing
Small- and medium-size enterprises (SMEs) need to tap on all the trade links Singapore has established with partners, in order to expand into overseas markets, said Trade and Industry Minister Chan Chun Sing on Thursday (May 10).
— Channel NewsAsia

PolicyPal Network to offer insurance products to QTUM
Insurance Blockchain company collaborate with QTUM, an open source Blockchain project.
— AEC News Today/ PRNewswire (media release)

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 May 11 added by Leakhena Khat on May 11, 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.