Singapore morning news for November 21

Singapore morning news for November 21

Singapore morning newsPolice seize equipment from The Online Citizen in defamation investigation
Police on Tuesday (20 November) seized equipment such as desktop computers, mobile devices and laptops from the residence of Terry Xu, executive editor of long-running socio-political website The Online Citizen (TOC).
— Yahoo News

Singapore lawmaker blasts Facebook over refusal to take down ‘false’ post
A Singapore lawmaker hit out at Facebook on Tuesday, saying it had reneged on a promise to help rein in fake news and calling for tougher regulations, which the social media firm has cautioned against.
— Reuters

SGX sets out guidelines for initial coin offerings
The Singapore Exchange (SGX) has laid out guidelines for listed companies considering conducting initial coin offerings (ICO) given the growing popularity of the fundraising method.
— Singapore Business Review

Three books banned for extremist religious views
Three books have been banned in Singapore for containing “exclusivist or extremist religious views that promote enmity among different religious communities”, the Ministry of Communications and Information (MCI) said on Tuesday (Nov 20).
— Today Singapore

TOC editor investigated by police for article alleging corruption at ‘highest echelons’ of S’pore govt
Socio-political website The Online Citizen (TOC) is under police investigation for criminal defamation over allegations made in an article published in September.
— Mothership

New plan launched to help food business go digital
If Old Street Bak Kut Teh’s experience is any indication, going digital can pay off handsomely for a small and medium-sized food business.
— www.tnp.sg

New rules empowering SCDF officers to remove barriers and obtain fingerprints during emergencies
Singapore Civil Defence Force (SCDF) officers will be allowed to break down doors or close roads and obtain fingerprints from unconscious persons during emergencies, after Parliament approved amendments to the Civil Defence Act on Tuesday (20 November).
— Yahoo News

High Court rejects bid to stop bond payout over $1.46m home
Insurer AXA came under fire in the High Court for holding back payment of a performance bond that had been called by an aggrieved home owner, with the judge making clear the insurer could not await the outcome of a court application seeking to stop the payment.
— The Straits Times

Police investigating claims made by ex-PA officer for overseas buys
The police are looking into the case of a People’s Association (PA) former staff member who made questionable reimbursement claims for overseas purchases for Chingay 2017, Trade and Industry Minister Chan Chun Sing said yesterday.
— The Straits Times

NTUC Foodfare denies allegations that worker appealed against long hours before his death
NTUC Foodfare has denied a report that a stall owner who died of heart failure – allegedly after working 18-hour days – had appealed to the social enterprise to have his hours shortened.
— The Straits Times

Protecting workers under Employment Act: Five top concerns
MPs gave the nod to changes made to the Employment Act to give rights and protection to all workers, saying the much broader coverage is timely, given the way Singapore’s workforce has evolved over the years.
— The Straits Times

Enhancements made to Employment Act will see more workers protected
The new changes will cover an extra 430,000 workers in managerial and executive positions previously not covered under the Employment Act.
— Channel News Asia

People’s Association’s lapses under police probe, trigger heated exchange in Parliament
Opposition Member of Parliament (MP) Png Eng Huat pressed the Government to take to task those deemed accountable for lapses found at the People’s Association (PA), triggering a fiery half-hour exchange in Parliament between him and Trade and Industry Minister Chan Chun Sing.
— Today Singapore

Ex-NTU research associate jailed, caned for molesting neighbour’s daughter and niece
He was a trusted neighbour with two young boys of his own, and the two families often visited each other’s homes to celebrate birthdays and festive occasions.
— Today Online

Chan Chun Sing: Trade with China nearly doubled to S$137 billion in 8 years after FTA
With the warmth shown towards United States Vice President Mike Pence last week, some of us would have assumed that US is among our largest trading partner.
— Mothership

Singapore’s top billionaire stocks hit returns of 29% YTD
Sri Tang, Best World and Top Glove were the outperformers.
Leading Singapore stocks with a market cap above $1b are having a bull run after averaging a total return of 29% YTD bringing their average 12-month and three-year total returns to 30.7% and 215.5% respectively, according to an update from SGX released on November 13.
— Singapore Business Review

Singapore toughens penalties for money laundering and terrorism financing
Those caught in the act will need to pay over $1m or twice the value of the suspicious transaction.
– Singapore Business Review

E-scooters to have prominent identification stickers to identify owners come Jan. 2019
As part of the new e-scooter licensing regime that will kick in come January next year, all registered e-scooters (whether privately owned or under personal mobile device [PMD]-sharing operators) will have identification stickers prominently placed on them.
— Mothership

Bitcoin crashes to lowest this year, losses top 25 per cent in a week
Bitcoin slumped on Tuesday (Nov 20) to its lowest this year, tumbling as much as 10 per cent to breach US$4,300 and taking losses in the world’s best-known digital coin to 25 per cent within a week.
— The Straits Times

Give time to blockchain to make a difference in everyday lives
MUCH of the technology that is now deeply embedded in our daily lives was unfathomable a few decades ago, with many of these new innovations ascending into mainstream society at a slow pace.
— The Business Times

Noble probe launched – three years after alarms first raised
BARELY a week to the expected listing of a new Noble Group that will be born out of a massive debt revamp on the Singapore Exchange (SGX), Singapore authorities have stunned the market with news that they are finally probing the commodities group for potential breaches of securities rules and company law.
— The Business Times

Getting maritime industry shipshape
YEARS ago, it was quite easy to recruit youngsters to go to sea, and thus maintain the manpower needs of the wider maritime industry. Many teenagers were interested in ships and the sea, and were attracted by a maritime career.
— The Business Times

More foreign issuers target Singapore-dollar market amid volatility
Bankers here are hopeful that more foreign issuers will be making a beeline for the local debt market, in light of some major deals recently.
— The Business Times

Singapore struggles to navigate as Asian neighbours stumble
Shortly before the Asian financial crisis of 1997-98, Lee Hsien Loong said that the title of a book by Andy Grove, the computer scientist who became the boss of Intel, could be Singapore’s national motto. The book was Only the Paranoid Survive.
— Financial Times

Singapore, Jiangsu ink 13 pacts to boost business links
Singapore and China’s Jiangsu province will deepen their economic partnership and advance the Belt and Road Initiative as they create more opportunities for their companies to venture into third-party markets, trade and logistics and financial services.
— The Straits Times

Singapore is a more competitive talent hub than Hong Kong
Singapore retained the 13th spot in the global talent competitiveness leaderboard compiled by the IMD World Talent Ranking 2018, which compares Asia Pacific countries terms of in developing, attracting, and retaining skilled professionals.
— Singapore Business Review

Takashimaya’s Bangkok store looks to Singapore sister shop for success
Takashimaya, Japan’s iconic department store, is trying the same formula for success used at its Singapore branch for its recently opened location in Bangkok.
— Nikkei Asian Review

New rules for housing developers to prevent money laundering
Housing developers will bear more responsibilities and duties to prevent money laundering and terrorism financing from happening in the real estate sector under a Bill passed in Parliament yesterday.
— Straits Times

10,900 foreigners treated at public hospitals last year
Public hospitals attended to 10,900 foreign patients last year, and that figure made up about 1.5 per cent of total patients, revealed Senior Minister of State for Health Lam Pin Min. He also gave the assurance that meeting Singaporeans’ needs was the priority for public healthcare institutions.
— Straits Times

Sustainability Reports: A Step In The Right Direction
The sustainability report is probably one of the newer documents pioneered in recent years that public-listed companies have to produce. It also follows a shift in companies trying to establish good ESG (Environmental, Social, and Governance) practices. Singapore-listed companies are still slow in taking up this mantle, but there are companies that have begun to issue sustainability reports.
— Motley Fool sg

Ride-hailing firms boost e-payment adoption in Singapore
GrabPay and Go-Pay are examples. Singapore continues to lead in digital payment services adoption across Southeast Asia with 52% of Singaporeans already using such services, according to Google and Temasek’s e-Conomy SEA 2018 report.
— Singapore Business Review

Express train service on Cross Island Line off the table: Khaw Boon Wan
An express MRT train service that would get commuters more quickly from one end of the future Cross Island Line (CRL) to the other will not materialise after all.
— Today Online

Freehold site in prime Novena revives en bloc attempt at $145.8m
Minbu Villa, a freehold 10-storey residential development composed of 33 apartments and a penthouse in the exclusive residential enclave of Novena/Balestier is attempting a second en-bloc sale after its earlier bid was hit by July’s cooling measures.
— Singapore Business Review

Singapore shares slide with Asia after Wall Street retreat
Singapore shares extended losses on Tuesday, along with other Asian markets as a technology-led selloff on Wall Street spilled into the region, while risk appetite remained weak amid trade and geopolitical tensions.
— Nikkei Asian Review (paywall)

Singapore seeks maritime digital transformation
The inaugural Maritime Digital Innovation Summit took place in Singapore on 14 and 15 November with speakers and delegates from Singapore, southeast Asia and further afield coming together to discuss pressing issues related to digitalisation in the maritime sector.
— Maritime Digitalisation & Communications

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?
— Asia One

There are 4.4 people competing for each 2-room Flexi Flat in 2018, down from 2015’s 8.5 applicants
The 2-Room Flexi Flats built by the HDB are intended for elderly Singaporeans.
— Mothership

Singapore leads the way in regional online recruitment activity: Monster
SINGAPORE (Nov 20): Singapore is set to continue on its upward hiring trajectory this year given its strong position in the market, as highlighted by the third quarterly Monster Employment Index (MEI) report by Monster, the online career & recruitment platform.
— The Edge

Keeping farm produce safe from pests and diseases
The business of bringing food from farm to table has gone global, and home-grown Asiatic Agricultural Industries is doing its part.
— Straits Times

Retail REIT recovery drags on amidst sluggish sales and traffic
A quick turnaround for Singapore’s struggling retail REIT sector is largely unlikely to take place as tenant sales and shopper traffic remained dismal in Q3, effectively putting the sector behind stronger office and hospitality REITs, according to CIMB.
— Singapore Business Review

URA shoebox rules do not impose minimum flat size: Minister Wong
t only prescribes higher average sizes to 85 sqm.
The revised guidelines from the Urban Redevelopment Authority (URA) regarding shoebox homes do not prescribe a ‘minimum built-up area for private properties’ Minister for National Development Lawrence Wong said in a parliamentary reply.
— Singapore Business Review

Singapore and Jiangsu to drive more opportunities in third-party markets, trade and financial services
Singapore and Jiangsu will deepen their economic partnership and advance the Belt and Road Initiative, as they create more opportunities for their companies to venture into third-party markets, trade and logistics and financial services.
— The Straits Times

Parliament: No plans to lower eligibility age for CPF payout, says Josephine Teo
There are no plans to lower the payout eligibility age for Central Provident Fund (CPF) members, which is set at 65 now, said Manpower Minister Josephine Teo on Tuesday (Nov 20).
— The Straits Times

Parliament: Fleet sizes of PMD-sharing services to be limited under new licensing scheme
Personal mobility device (PMD)-sharing operators will be restricted to “small-scale operations” when licence applications begin in January next year (2019).
— The Straits Times

Bishan otters witness British couple’s wedding proposal
An otter-loving British couple got the perfect witnesses for a wedding proposal at Marina Reservoir on Tuesday (Nov 20) – a group of otters from Singapore’s Bishan otter family.
— The Straits Times

Singapore Art Week to showcase local artists
At Singapore Art Week in January next year, viewers get to sweep the “floor” of a mock flat with a broom made of colour pencils. Thus they create their own work of art while considering the value assigned to both art-making and domestic labour.
— The Straits Times

Kerala rock band Avial’s Singapore roots
When Indian rock band Avial play their first Singapore gig at the Esplanade Concert Hall this Friday (23 Nov), it will be something that guitarist Rex Vijayan has been looking forward to for quite a while.
— The Straits Times

 

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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