Singapore Morning News For May 25

Singapore ranked safest country in the world, above Japan: Survey
While Singapore may no longer boast of having the most powerful passport in the world, it is at least the safest.
— Asia One

Trump cancels Singapore summit in letter to Kim Jong Un
President Donald Trump will not meet North Korean leader Kim Jong Un next month, he announced in a letter to Kim released by the White House Thursday morning, scrapping plans for what would have been a historic diplomatic summit.
— CNN

Singapore Warns Eight Crypto Exchanges as Scrutiny Increases
Singapore warned eight cryptocurrency exchanges about their activities in the city-state as regulators around the world step up scrutiny of digital-asset trading.
— Bloomberg

Ride-hailing firm Go-Jek to launch in Singapore
Indonesian ride-hailing start-up Go-Jek put an end to several months of speculation yesterday when it confirmed it would expand into four markets in the region, including Singapore, as part of a US$500 million (S$671 million) growth plan.
— The Straits Times

Singapore $18.5m bid for Cone Bay barramundi
A Singapore-based fisheries company has made an $18.5 million takeover bid for Marine Produce Australia, operator of the Cone Bay Ocean Barramundi farm near Broome.
— The West Australian

How sharing services can help put Singapore dairy firms on the global map
A one-stop dairy hub that will offer a range of research and development, processing, warehouse and tech services could help Singapore firms slash costs and increase export opportunities.
— FoodNavigator-Asia

Prudential policyholders affected by erroneous deductions from bank accounts
Some policyholders of Prudential have encountered erroneous deductions from their bank accounts, the Monetary Authority of Singapore (MAS) confirmed on Thursday (May 24).
— Channel NewsAsia

World View | Singapore – Malaysia high speed line
Contractors and consultants are gearing up to build a high speed line which will bring Kuala Lumpur in Malaysia within a 90 minute high speed train journey of Singapore.
— New Civil Engineer

Singapore e-commerce platform ezbuy raises $17.6m in pre-Series C round
Singapore’s e-commerce platform ezbuy has raised a $17.6 million pre-Series C round from investors including IDG Ventures, Ventech, Sky9 Capital, Vision Knight Capital and China Growth Capital.
— DealStreetAsia

Singapore Shipping Corp posts 59% rise in Q4 net profit
LISTED shipowner and manager Singapore Shipping Corp (SSC) posted a 59.5 per cent increase in fourth-quarter net profit to US$2.57 million on higher revenue and operating profit.
— The Business Times

Mediacorp works with tertiary institutions in Singapore to nurture aspiring content creators
As part of its efforts to grow and nurture content creators in Singapore, Mediacorp has created a programme which will see its staff work with students in tertiary institutions around the country.
— The Drum

High-risk dengue clusters found in Jurong West, Bedok
High-risk dengue clusters have been found in Jurong West and Bedok, according to a notice posted on the National Environment Agency (NEA) website on Wednesday (May 23).
— Channel NewsAsia

High Capital Growth In Landed Housing In Singapore
Singapore’s property market has seen a limited supply of landed property over the past five years. Despite the scarcity of landed homes, the number of unsold inventory has been at a record low, with limited freehold supply coming into the market.
— Property Guru

Singapore wealth advisor WeInvest raises $12.3m in Series A from Schroders, others
Singapore-based robo-advisory firm WeInvest has raised a total of S$16.5 million ($12.3 million) in a Series A Funding backed by global investment manager Schroders plc and a number of angel investors from the wealth and banking industry.
— DealStreetAsia

Singapore’s Ngee Ann Polytechnic partners London-based CFTE to launch AI in Finance course
The collaboration addresses the needs of professionals in finance and technologists to up-skill in a rapidly changing industry being transformed by emerging technologies.
— Open Gov Asia

Norwegian firm in S’pore seeks exemption from US solar tariffs
THE largest cleantech player in Singapore has submitted a request to be excluded from the United States’ tariffs on solar panel imports.
— The Business Times

Singapore narrows 2018 growth estimate to 2.5-3.5% as Q1 GDP expands faster than expected
Singapore has slashed the lower end of its annual growth forecast as data showed the economy growing faster-than-expected in first three months of 2018.
— Channel NewsAsia

Govt SME loan schemes have positive impact on firms’ topline: MTI study
ENTERPRISE Singapore’s loans to small and medium-sized enterprises (SMEs) had a positive impact on their revenue, possibly by helping with their working capital needs to increase sales, according to a study from the Ministry of Trade and Industry (MTI) on Thursday.
— The Business Times

Singapore says regrets cancellation of summit between United States and North Korea
Singapore on Thursday (May 24) expressed its regret after United States President Donald Trump called off the planned Jun 12 summit between his country and North Korea.
— Channel NewsAsia

Where did Singapore’s US$503b overseas investment go to?
A lot of the world’s foreign direct investment (FDI) into developing countries that goes to the improvement of their trade, productivity, and overall economy both stems from and passes through Singapore, making it an important investment “hub” along with Ireland, Luxembourg, Mauritius, and the Netherlands, SEO Amsterdam Economics revealed.
— Singapore Business Review

Singapore venture to launch blockchain platform for hotels and malls
FundPlaces, a Singapore-based property tech startup, and Malaysian property developer Hatten Land have announced a joint venture that will create what they claim to be the first hospitality blockchain platform in Southeast Asia.
— Tech in Asia

What ails Singapore Airlines?
The easiest way to make a small fortune in the airline industry, it is frequently said, is to start off with a large fortune.
— The Business Times

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 May 25 added by Leakhena Khat on May 25, 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.