Singapore morning news for November 20

Singapore morning news for November 20

Singapore morning newsBusiness climate worsens, but Singapore’s prospects still beat China’s, survey finds
Global trade woes may send some business Singapore’s way, but uncertainty is still weighing down companies’ near-term outlook.
— The Business Times

Singapore third-quarter GDP growth seen losing momentum, trade war dims outlook
Singapore is expected to report slower third-quarter economic growth than initially thought, a Reuters poll showed, as the manufacturing sector faces strains from weaker global demand and an intensifying trade dispute between the United States and China.
— Reuters

M&As can bring relief to Asia’s crowded skies
THERE is hope for Asia’s crowded skies. In much of the region, too many carriers, with too many planes, charging too little have left the industry on its knees, and put price controls back on the agenda. Consolidation offers a better fix. With Indonesia’s state-owned Garuda taking over a rival and India’s Jet Airways in play, some relief may be near.
— The Business Times

BHP to pay $390 million to Australia tax authorities to help settle dispute over Singapore hub
BHP on Monday said it had signed an agreement with Australia’s tax authorities to settle a long-running dispute over the global miner’s operations in Singapore.
— Reuters

Business climate worsens, but Singapore’s prospects still beat China’s, survey finds
GLOBAL trade woes may send some business Singapore’s way, but uncertainty is still weighing down companies’ near-term outlook.
— The Business Times

S-E Asia survey sheds light on attitude towards extremism
Muslims in the Philippines are far more receptive to violent methods to defend their religion as compared with those in Indonesia, Thailand and Malaysia, according to a regional survey on susceptibility to extremism conducted between September last year and February this year.
— The Straits Times

Despite global uncertainty, Singapore ‘does not need to be pessimistic’: Vivian Balakrishnan
The Republic recognises the uncertainty and volatility in the world today, but looking at what it has achieved this year, it does not need to be pessimistic in its outlook, Foreign Affairs Minister Vivian Balakrishnan said on Monday (Nov 19).
— Today Online

Death of NSF Liu Kai: Bionix that mounted Land Rover was reversing from ‘simulated enemy fire’
The Bionix vehicle that reversed into the Land Rover driven by full-time national serviceman Liu Kai was moving away from simulated enemy fire, Defence Minister Ng Eng Hen said in a written answer to Parliament on Monday (Nov 19).
— Channel News Asia

E-wallet, crypto players show support for Payment Services Bill
E-WALLET and cryptocurrency players welcomed – with some degree of reservation – the new regulatory framework for payment services that was unveiled on Monday.
— The Business Times

Parliament: Three areas MEWR wants to improve for new hawker centres
Senior Minister of State for the Environment and Water Resources Dr Amy Khor outlined on Monday (Nov 19) three areas her ministry would focus on in the coming months to improve the Socially-Conscious Enterprise Hawker Centre (SEHC) model implemented at seven new hawker centres.
— The Straits Times

Profit margins for hawker fare? As low as 20 to 30 cents
Some consumers are unwilling to pay more for that bowl of fish ball noodles or ban mian, as Talking Point discovers. What might it take for higher prices to be more palatable?
— Channel News Asia

Singapore at forefront in Asia for talent competitiveness
SINGAPORE has come up tops in Asia for talent competitiveness this year, according to a global ranking by Swiss business school IMD.
— The Business Times

Lawyers from China on month-long attachment in Singapore
Lawyers from some top firms in China yesterday started a month-long attachment in Singapore for the first time to better understand the business prospects that each country offers.
— The Straits Times

Vital role for Singapore in region, says report
Singapore can play a significant role in the region’s Internet economy despite its small size, according to a report out yesterday.
— The Straits Times

Parliament: Harsher penalties for terrorism financing, money laundering and money mules
Harsher penalties and increased enforcement powers are in place under legislation passed on Monday (Nov 19) to tackle terrorism financing and money laundering.
— The Straits Times

Region’s VC, PE to double to US$70b by 2024: Bain report
SOUTH-EAST Asia’s booming venture capital and private equity market is poised to see deal value soar to US$70 billion over the next five years, doubling that of the previous five years, according to consultancy Bain & Co’s report released on Monday.
— The Business Times

Parliament: Fund for future rail lines to get initial $5b injection
With the cost of constructing rail lines expected to rise over time, it would be responsible to set aside funds for investing in the rail network for future generations, said Senior Minister of State for Transport Janil Puthucheary in Parliament on Monday (Nov 19).
— The Straits Times

Residential sector’s share in Q3 total investment volume crashed 32 ppt to 43%
The commercial sector continued to gain traction as it made up 27% or $2.1b of total investment sales.
— Singapore Business Review

Chance for prison inmates to study for poly diploma
Prison inmates are being offered the chance to study for a polytechnic diploma for the first time.
— Straits Times

S-E Asian Internet economy set to top $330b by 2025
E-commerce and other sectors such as travel, media and ride-hailing services have built a thriving Internet economy in South-east Asia.
— Straits Times

Kallang slashings: Jail for man who fled Singapore after construction worker killing
A man who was part of a gang that killed a construction worker and injured three men in 2010 was sentenced to 33 years’ jail and 24 strokes of the cane on Monday (Nov 19).
— Today Online

AMKTC trial: Key witness questioned on why he went along with ‘dangerous’ practices
The defence in the corruption trial involving a former Ang Mo Kio Town Council (AMKTC) general manager on Monday (Nov 19) questioned the prosecution’s prime witness on why he complied with instructions, even though he spotted “dangerous” signs that hinted of bribery.
— Today Online

Parliament: MPs raise concerns about new Bill that will help poor get legal aid more easily
It will be easier for the most vulnerable to get legal help, through changes to the Legal Aid and Advice Act passed on Monday (Nov 19).
— The Straits Times

Bill proposes ‘calibrated’ approach where first-time drug abusers who don’t commit other crimes could avoid DRC regime
Under a Bill introduced on Monday (Nov 19), the rehabilitation regime for adult drug abusers will be calibrated to “distinguish between abusers who only consume drugs and those who concurrently commit other offences of harm to society”.
— Today Singapore

Govt to stick with social enterprise hawker centre model, ‘not enough to keep doing things the same way
Social enterprise-run hawker centres are here to stay, said Minister for the Environment and Water Resources Masagos Zulkifli on Monday (Nov 19), as Members of Parliament (MPs) raised questions about the new model and why the National Environment Agency (NEA) could not manage the centres directly.
— Today Singapore

What funding gap? Series B-C deals in Southeast Asia double in H1
China has imposed regulations on approval of new games in March as part of a regulatory overhaul and to tackle addiction among youth.
— Deal Street Asia (paywall)

Southeast Asia’s Internet economy to exceed US$240 bil by 2025: Google-Temasek report
Southeast Asia’s Internet economy hit US$72 billion ($99 billion) in gross merchandise value (GMV) terms this year across the online travel, e-commerce, online media, and ride-hailing sectors — thanks to a large, growing and “incredibly engaged” internet user base.
– The Edge

Singapore Q3 GDP growth seen losing momentum, trade war dims outlook
Singapore is expected to report slower third-quarter economic growth than initially thought, a Reuters poll showed, as the manufacturing sector faces strains from weaker global demand and an intensifying trade dispute between the United States and China.
— The Star Online

What SGX expects of listed companies conducting an initial coin offering
An initial coin offering is an offer of digital tokens or coins to investors that are paid for either with fiat currencies or other cryptocurrencies. Given that many companies all over the world are conducting ICOs to raise funds, it is to be expected that some issuers listed on Singapore Exchange (SGX) are also considering conducting ICOs to finance business growth.
– The Edge

What is the future of skills in Singapore?
What defines a culture of lifelong learning? How is disruption creating workplaces of the future? And how is the education landscape transforming alongside these changes?
– Gov Insider

Masagos gives mini-history lesson on role of hawker centres in S’pore from 1970s till now
Hawker centres — the prime topic of discussion on the first day of Parliament’s year-end sitting on Monday.
– Mothership

MAS finalises new regulatory framework to enhance payment services
It will regulate systemically important payment systems and focus on retail payment services.
– Singapore Business Review

Salt and sugar intake way too high, but fruit and vegetable consumption improving: HPB survey
People here are eating more wholegrain, fruit and vegetables, and consuming fewer calories, but it is their high consumption of sugar and salt that has the authorities concerned.
– Straits Times

New $80m passenger terminal opens at Seletar Airport
All operations at Seletar Airport have moved to a new $80 million passenger terminal, pulling the shutters down on the old facility which started handling civil flights 50 years ago.
— Asia One

Parliament: Dissemination of information on consumption of controlled drugs tabled as an offence
Several new drug-related offences look set to be introduced following the tabling of a new Bill in Parliament on Monday (19 November).
— Yahoo News

Parliament: Making employers’ consent mandatory before maids can borrow money may drive them to loansharks, says MOM
Parliament: Making employers’ consent mandatory before maids can borrow money may drive them to loansharks, says MOM
— Straits Time

Parliament: SAF compensation amount for training incidents ‘two to four times’ that in national framework
Compensation amounts for injuries or deaths arising from Singapore Armed Forces (SAF) training or operations are generally two to four times provided for under the national framework, said Defence Minister Ng Eng Hen on Monday (Nov 19).
— The Straits Times

Parliament: Bill passed to tax overseas services like Netflix from 2020
Will the upcoming “Netflix tax” disadvantage lower income groups and widen the digital divide by pricing them out of digital experiences, such as online learning and entertainment?
— The Straits Times

Only 2 in 5 Singapore executives confident revenue will grow in 2019: study
Three in 10 business leaders also struggle to find the right talent for their companies.
— Singapore Business Review

SIA flight to Paris makes U-turn soon after take-off from Changi; oxygen masks deployed during descent
A Singapore Airlines flight which left Changi Airport early Monday (Nov 19) morning made a U-turn less than an hour after take-off, after pilots reported a drop in cabin pressure to air traffic controllers.
— Asia One

S’poreans can pay with Nets in Johor Bahru, M’sia now
There are now more than 4,500 Nets acceptance points in Malaysia.
This means you can just bring your Nets ATM card with you without having to change foreign currency at the money changer.
— Mothership

How Southeast Asia can unlock the full potential of its burgeoning internet economy
As the world’s fastest-growing internet region, Southeast Asia is brimming with potential
— The Edge

NETS payment now available for Singapore shoppers in Malaysia
The next time you are headed for Malaysia, be sure to bring your NETS ATM card with you.
— Channel News Asia

Commentary: Beneath the digital friendly facade, Singaporeans still reluctant to accept cashless payments
While Singapore fosters a digital friendly environment, Singaporeans are still hesitant to accept evolving technologies, says one observer.
— Channel News Asia

 

Feature photo Womens Action

This week’s Singapore morning news feature photo acknowledges International Day for the Elimination of Violence against Women November 25

 

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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With a decade of experience as an editor and journalist, Roy has edited mastheads across Australia and Southeast Asia, from the remote island communities of the Torres Strait to Cambodia’s only award-winning newspaper, The Phnom Penh Post.

A a professional photographer since the days of film, he holds a Bachelor of Arts in Photomedia and a Postgraduate Diploma in Journalism.

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