Singapore morning news for November 23

Singapore morning news for November 23

Singapore morning newsPAP sets stage for Heng Swee Keat to be PM
Seventeen days after the People’s Action Party (PAP) was returned to power with 69.9 per cent of the vote in the Sept 11, 2015 General Election, Prime Minister Lee Hsien Loong chaired a press conference to announce his new Cabinet.
— The Straits Times

Singapore’s Q3 economic growth slows to 2.2%
Growth in the manufacturing sector slowed to 3.5% from 10.7% in Q2.
— Singapore Business Review

Singapore-US partnership to see wearable bio sensors boost hospital-level home care
A Singapore digital therapeutics company is teaming up with a top US hospital in an innovative plan to use data from wearable biosensors to help improve the level of care patients receive at home.
— AEC News Today

Chan: Strong team of leaders key to Singapore’s success
Singapore’s political leadership model is “one of continuity”, and this can be expected in the upcoming transition at the highest ranks, Trade and Industry Minister Chan Chun Sing said yesterday.
— The New Paper

Singapore workers to get 2.6% real pay increase next year, down from 2.9% in 2018: Survey
Higher inflation is likely to trim average real pay increase in Singapore to 2.6 per cent in 2019, down from 2.9 per cent this year, according to a survey conducted by ECA International.
— The Straits Times

Travellers caught off guard on short notice as Firefly suspends flights to Singapore
Less than two hours before she was to board a flight out of Singapore to Kuala Lumpur on Malaysian budget airline Firefly, Ms Crystal Wong found out on Thursday (Nov 22) that the airline will be suspending its services from the start of next month.
— Today Singapore

E-registration & machine vote-counting for next S’pore general election after Q3 2019
(Which means, well, the next election will only come after that.) The next General Election (GE) will introduce counting machines used to tally your votes that will see polling results announced up to an hour earlier.
— Mothership

Salaries in Singapore could rise 3.8% in 2019
Executive roles in life science and tech sector are poised to enjoy the biggest raise.
— Singapore Business Review

Singapore’s final 3Q GDP up 3% q-o-q, well below forecast
Singapore’s economy grew at a slower pace than initially thought in the third quarter, data showed on Thursday, with the trade ministry flagging growth will likely moderate further in the current quarter and next year in part due to the US-Sino trade war.
— The Edge

Singapore fuel oil stocks jump, imports from Iraq hit record high
Singapore fuel oil inventories jumped 13 percent to a four-week high in the week ended Nov. 21, despite an 18 percent drop in net imports to a two-week low, official data released on Thursday showed
— The Star Online

Singapore exports not very exposed to trade war: MTI analysts
The world’s biggest economies are at loggerheads but Singapore’s exposure to the US-China trade war is small, an official analysis has found.
— The Business Times (paywall)

Singapore, Netherlands share ‘common commitment’ to multilateralism: President Halimah Yacob
Singapore and the Netherlands share a “common commitment” to multilateralism, free trade and the rule of law, said President Halimah Yacob during a state banquet hosted by King Willem-Alexander and his wife Queen Maxima on Wednesday (Nov 21) in Amsterdam.
— Channel News Asia

More talent and effort to grow deep tech in Singapore: Heng Swee Keat
More talent and effort is needed to grow the deep tech industry in Singapore, said Finance Minister Heng Swee Keat on Thursday (Nov 22).
— The Straits Times

Mediacorp continues to be the number one radio network in Singapore, says Nielsen
Collectively, Mediacorp reaches the widest audience, gaining 1.2 per cent share from the last wave to command 78 per cent share of the market.
— Channel News Asia

First hints on who could become next Singapore Prime Minister
Singapore’s ruling People’s Action Party (PAP) will likely name finance minister Heng Swee Keat as its first assistant secretary general, media said on November 22, indicating the 57-year-old career public servant is poised to become the city state’s next prime minister.
— Investine

Singapore Finance Minister moves closer to becoming next PM: reports
Singaporean Finance Minister Heng Swee Keat is set to be appointed the first assistant secretary-general of the ruling People’s Action Party on Friday, a job that paves the way for him to become the leading contender for the position of prime minister after Lee Hsien Loong steps down.
— Nikkei Asian Review (paywall)

Leadership model of continuity to apply in upcoming transition: Chan Chun Sing
The leadership model in Singapore is “one of continuity”, and this can be expected in the country’s upcoming transition at the highest ranks, said Trade and Industry Minister Chan Chun Sing on Thursday (Nov 22).
— The Straits Times

Visible data, survey results key in fight against plastic
We are delighted to hear from and encouraged by people like Miss Cheng Woon Jo (Greater inter-stakeholder relationship can reduce plastic waste; Nov 19).
— The Straits Times

Amnesty International blasts police action against TOC as “Government harassment”
Amnesty International has joined the human rights activist groups who have weighed in on the recent police action against local socio-political website The Online Citizen and its editor, Terry Xu.
— The Independent 

Third news website sued for defamation by government business NTUC
Singapore’s news website, The Independent Sg (ISG), has been sued for defamation by the government business conglomerate NTUC over several articles claiming that a hawker died from overworking.
— Singapore-herald

NTUC Foodfare to take legal action against The Independent Singapore website over ‘false’ reports on hawkers
NTUC Foodfare said on Wednesday (Nov 21) that it will take legal action against The Independent Singapore.
— Today Online

Batam radio co-founder denied entry to Singapore for alleged Salafi links
A co-founder of Batam-based radio station Hang FM, Zein Alatas, has been denied entry to Singapore because of his alleged affiliations with the Salafi group, an ultra-conservative movement within Sunni Islam.
— The Jakarta Post

Job prospects for workers next year mixed across sectors: Observers
Workers in manufacturing and trade may face more uncertain job prospects given slower economic growth forecast for next year but opportunities are likely to remain good in sectors such as fintech and healthcare, say experts.
— The Straits Times

Singapore Changi: Behind the scenes at the world’s No. 1 airport
Looking for the world’s best airport? Then cast your eyes toward Singapore, where the city-state’s Singapore Changi Airport regularly rates as one of the best on the planet.
— USA Today

PSLE results: 98.4 per cent qualify for secondary school for third year straight
Like their seniors in the previous two years, the class of 2018 has seen 98.4 per cent of pupils who took the Primary School Leaving Examination (PSLE) doing well enough to progress to a secondary school.
— The Straits Times

SGInnovate invests in 3 deep-tech startups, partners four universities
SGInnovate, Singapore government-owned innovation platform, has announced its investments in three deep-tech startups – Horizon Quantum Computing, Involt and Portcast – as part of its efforts to support the ecosystem in the city-state.
— Deal Street Asia

Ceremonial welcome for President Halimah
The Singapore flag flew high over Amsterdam’s historic Dam Square yesterday morning as President Halimah Yacob was given a ceremonial welcome to the Netherlands.
— The Straits Times

How to make government more agile
Large, complex structures are not designed to move quickly and be ‘agile’.
— Gov Insider

Singapore inks bilateral investment treaty with Kazakhstan
Investors can soon freely move capital in and out of their countries.
— Singapore Business Review

Malaysia, Singapore shares little changed in thin trade
Malaysia and Singapore shares held steady in thin trade Thursday as investors retreated to the sidelines monitoring domestic corporate news ahead of Thanksgiving market holiday in the U.S.
— Nikkei Asian Review (paywall)

Catalist-listed CPH acquires B2B fintech oCap in $45m reverse takeover
CPH, an SGX Catalist-listed manufacturer of printed circuit boards, on Thursday announced that it has agreed to acquire Singapore fintech startup oCap Management for S$61.8 million ($45 million) in a reverse takeover deal.
— Deal Street Asia

Singtel secures Premier League broadcast rights till May 2022, no price hike
Singtel TV has secured the Premier League’s broadcast rights in Singapore over three seasons starting August next year, announced the company on Thursday (Nov 22).
— Today Online

Century-old hospital wards added to expanded Balestier heritage trail
A row of eight single-storey hospital buildings with blue roofs stand on a hill at Moulmein Road. Although they would not look out of place in a war movie, few people in Singapore even know about their existence.
— The Straits Times

SG Digest: Grab Velocity unveils first batch; IMDA backs blockchain adoption
Grab has unveiled its first batch of five startups from its accelerator programme while IMDA has decided to provide seed funding to boost blockchain adoption among Singapore enterprises.
— Deal Street Asia

Singapore-based jobs search platform founded by IIM-grad raises $500,000 in seed funding
Sendhelper, a Singapore-based online jobs search platform for blue-collared workers with plans to foray into India, has raised around $500,000 in seed funding from Asian technology investor Captii ventures.
— The Economic Times

CapBridge’s 1exchange gets MAS nod to operate as one of Singapore’s first private securities exchanges
Global private capital platform CapBridge has received approval from the Monetary Authority of Singapore (MAS) for its associated entity, CapBridge Platform, to operate a securities exchange as a recognised market operator (RMO) in Singapore.
— The Straits Times

6 things to know about Black Friday sales
After the hustle and bustle over Singles’ Day, retailers are gearing up for yet another weekend of sales – the American shopping affair, Black Friday, happening this year on Nov 23.
— The Straits Times

Army regular father’s fighting spirit inspires daughter who wins award for top cadets
From the age of 13, Ranjitha Ramachandran was taken to army events like open houses, half marathons and unit dinners by her father, an army regular.
— The Straits Times

NODX tipped to expand 5.5-6% in 2018
TOTAL merchandise trade as well as non-oil domestic exports performed better than expected in the third quarter, leading the government to raise sharply its full-year growth forecasts.
— The Business Times

NODX climbs for fifth straight quarter with 8% growth in Q3
It was driven by the 12.6% YoY growth in the non-electronic segment.
— Singapore Business Review

MTI: Growth to let up in 2019; Q3 GDP underwhelms
SINGAPORE’S economic growth next year is likely to ease from the pace recorded this year, weighed down by moderating global demand for electronics and the impact of the ongoing trade war.
— The Business Times

Fixed legal fees off the table for now
PROPOSED changes to have civil litigation costs fixed to a scale have been dramatically withdrawn – for now – following a townhall held last evening.
— The Business Times

11 MRT stations along North-South & East-West lines to close at 11pm between Nov. 30 & Dec. 15
A total of 12 MRT stations along the East-West Line (EWL) and North-South Line (NSL) will close earlier at about 11pm every Friday and Saturday between Nov. 30 and Dec. 15.
— Mothership

3 weeks’ jail for Scoot passenger who molested flight attendant
A 34-year-old business class passenger on Scoot was sentenced to three weeks’ jail on Thursday (Nov 22) for molesting a cabin crew member on a flight from Sydney to Singapore on Aug 8.
— Today Online

Singapore exports not very exposed to trade war: MTI analysts
THE world’s biggest economies are at loggerheads but Singapore’s exposure to the US-China trade war is small, an official analysis has found.
— The Business Times

Asian stocks to continue providing good value in tough year ahead: T Rowe Price
Global growth is expected to moderate as stimulus tailwinds weaken and output gaps close but tactical opportunities can still be identified in unfavoured assets and emerging markets, says T Rowe Price Group Inc in its outlook for 2019.
— The Edge

Exchange programme boosts Brunei, S-pore ties
THE Prime Minister’s Office (PMO) and the Ministry of Home Affairs (MoHA) of Brunei Darussalam yesterday welcomed Ministry of Home Affairs (MHA) of Singapore officers at the launch of the 4th Joint Training Exchange Programme for senior officers at the MoHA building in the capital.
— Borneo Bulletin

IMDA puts up seed funding to boost blockchain adoption
IN A bid to grow the blockchain ecosystem in Singapore, the Infocomm Media Development Authority (IMDA) is putting up seed funding for industry players to develop platforms that connect blockchain special interest groups, solution providers and other related services providers.
— The Business Times

Singapore’s Arcadier to raise US$25M via token sale
Arcadier aims to introduce immutability, transparency and decentralisation to the global B2B and B2C e-commerce markets, while enhancing trust through blockchain.
— Yahoo News

Job, pay prospects next year mixed across sectors, say observers
Workers in manufacturing and trade may face more uncertain job prospects given the slower economic growth forecast for next year, but opportunities are likely to remain good in sectors such as fintech and healthcare, say experts.
— Straits Times

American company starts shared e-scooter scheme at Singapore Science Park 1 and 2
Shared e-scooter company Lime has begun rolling out its personal mobility devices (PMD) into Singapore, through a partnership with property developer Ascendas-Singbridge.
— The Straits Times

Temasek sets up new groups to explore AI, blockchain tech
Temasek, Singapore’s investment company, is setting up new groups to explore opportunities in artificial intelligence (AI) and blockchain technologies.
— Straits Times

No romaine lettuce recall yet in Singapore as USA and Canada suffers from bacterial outbreak
Good news for those who hate eating greens.
— Coconuts (paywall)

Firefly to suspend all flights into Singapore from Dec 1
Malaysian budget airline Firefly will suspend all flights into Singapore from Dec 1, it said on Thursday (Nov 22) in response to media queries.
— Today Online

Singtel TV wins Premier League broadcast rights for another three seasons
Singtel TV has won the rights to broadcast Premier League matches for the next three seasons to Singapore fans.
— The Edge

Bookings for SIA seen stronger y-o-y but watch for fuel price headwinds: OCBC
Bookings for Singapore Airlines (SIA) in the coming months are expected to be stronger y-o-y but headwinds continue to persist in the form of cost pressures arising from elevated fuel prices and keen competition, says OCBC Investment Research.
— The Edge

e27 partners with Hello Tomorrow Singapore Regional Summit 2018 to accelerate the growth of Southeast Asia’s deep tech ecosystem
Deeptech innovations are founded upon complex science and engineering, often characterised by long gestation periods and elaborate integration processes
— Yahoo News

Can Haw Par Corporation Ltd afford to pay higher dividends?
Haw Par Corporation Ltd (SGX: H02) is the maker of the Tiger Balm brand of ointment. Other than its healthcare arm, it also has strategic stakes in UOL Group Limited (SGX: U14) and United Overseas Bank Ltd (SGX: U11).
— Motley Fool sg

More than 50 DBS customers fell for phishing SMSes in last two months
The police and DBS Bank warned on Thursday (Nov 22) of a resurgence in phishing SMSes purportedly sent by DBS or POSB.
— Today Singapore

Heng Swee Keat likely to be PAP 1st Assistant Sec-Gen. Goh Chok Tong became PM after he was 2nd Assistant Sec-Gen.
The “Heng Swee Keat as Prime Minister” hype-train has started.
— Mothership

How Singapore’s projected 2.6% salary increase for 2019 fare against global peers
After factoring in higher inflation of 1.4% as predicted by the International Monetary Fund (IMF), the average Singaporean employee is expected to see a real salary increase of 2.6% in 2019 – down from the 2.9% increase received in 2018 and slightly below the Asia Pacific average of 2.7%.
— The Edge

CapitaLand’s earnings uptrend likely to remain intact throughout FY18: Phillip
Despite a change of analyst, Phillip Capital is maintaining CapitaLand at “accumulate” with a lower target price of $4 compared to $4.19 previously, translating to a FY18E P/NAV ratio of 0.72 times.
— The Edge

Cross-border payments startup InstaREM raised US$20m in first close of series C round
nstaReM, a Singapore-based digital cross-border payments company, has secured US$20 million in the first tranche of its US$45 million Series C funding round, led by new investors MDI Ventures, the VC arm of Indonesia’s Telkom, and Beacon Venture Capital, the VC arm of Thailand’s Kasikornbank.
— Singapore Business Review

New posts in Singapore ruling party seen as strong hint on next PM
Singapore’s ruling party is set to unveil new posts within its top decision-making body on Friday in what could give a strong hint about who will become only its fourth prime minister, with domestic media saying the finance minister is the frontrunner.
— Reuters

Chart of the Day: Struggling telcos turn to cost-cutting to boost earnings
StarHub profits are poised to grow at a CAGR of 7% from 2018-2020.
— Singapore Business Review

SIA reshuffles routes as SilkAir merger looms
Budget airline Scoot will be taking over a number of SilkAir’s routes over the next two years ahead of the latter’s merger with Singapore Airlines (SIA), an announcement revealed.
— Singapore Business Review

Singapore Airlines to transfer SilkAir routes to Scoot
Singapore Airlines said on Thursday its budget carrier Scoot will take over several routes from regional airline SilkAir over the next two years, ahead of a plan to absorb underperforming SilkAir into the parent brand.
— Bangkok Post

Singapore: AIMS Financial to buy out JV partner’s stake in AA REIT
Sydney-based fund manager AIMS Financial Services Group and its affiliates have proposed to buy out its partner’s 50 per cent stake in the management entities of AIMS AMP Capital Industrial REIT (AA REIT), it said in a statement on November 21.
— Deal Street Asia

Keller Group to exit heavy foundations business in Singapore, Malaysia
Ground engineering contractor Keller Group Plc said on Thursday (Nov 22) it would exit its heavy foundations activities in Singapore and Malaysia and scale back in Brazil and South Africa, leading to 700 job cuts.
— The Straits Times

Two new berths planned for COSCO-PSA terminal, Singapore
COSCO Shipping Ports and PSA Corporation Limited have signed a memorandum of understanding for the addition of two new berths at the COSCO-PSA Terminal in Singapore.
— The Maritime Executive

New property site taps OneMap to offer more detailed searches for homebuyers
Yet another online site for property hunters was launched on Wednesday (Nov 21), with a difference: Users will be able to narrow their search to hone in on certain features of a property and its neighbourhood.
— Today Online

Trio charged for graft linked to embassy worker
Three Singaporeans, including an insurance agent, were charged in the State Courts yesterday over their alleged roles in a bribery case linked to performance bond guarantees for Indonesian maids.
— www.tnp.sg

Maid who claimed she was stressed jailed seven years for causing toddler’s death
Indonesian domestic helper Maryani Usman Utar, who pleaded guilty to causing the death of a toddler in her care, was convicted on Thursday (Nov 22) in the High Court and jailed for seven years.
— The Straits Times

Local and international emergency response teams compete in display of strength and skills
In a display of strength and balance, Singapore Civil Defence Force’s (SCDF) First Warrant Officer Muhd Bukhary Abu Bakar pulled himself across a rope suspended about 6m from the ground during a practice run of the Singapore-Global Firefighters and Paramedics Challenge on Thursday (Nov 22).
— 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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