Singapore morning news for November 27

Singapore morning news for November 27

Singapore morning newsSingapore SMEs get a leg-up going digital with wholesale trade industry digital plan
MORE than 33,000 small and medium-sized enterprises (SMEs) in Singapore can stand to gain from the new wholesale trade industry digital plan (IDP) launched on Monday by Senior Minister of State for Trade and Industry Koh Poh Koon during his visit to SATS BRF Food.
— The Business Times

Singapore manufacturing surprises on the upside with 4.3% growth in October
Singapore’s manufacturing output grew 4.3 per cent year on year in October, more than rebounding from September’s marginal 0.1 per cent fall and exceeding economists’ expectations of 2.6 per cent growth, according to preliminary estimates from the Economic Development Board on Monday. Excluding the volatile biomedical manufacturing sector, output grew 3 per cent.
— The Business Times

TOC resumes operations as police investigation into alleged criminal defamation case goes on
Local sociopolitical website The Online Citizen (TOC)’s chief editor Terry Xu announced on Monday that his site will resume operations again while an investigation by the police into a case of criminal defamation continues.
— Mothership

Singapore becoming too reliant on a murky data economy
Singapore’s embrace of data is well known. The city-state has ambitious Smart City plans which include driverless cars, air taxis, “Virtual Singapore”, in-home monitoring systems and more. One thing many of these innovations and initiatives have in common is that they depend on accurate data, and the data economy, to bring to fruition.
— The Business Times

Feeding Singapore’s hunger for sand
Sand mining for reclamation of coastal areas is both, a geopolitical and conservation issue for the Southeast Asian region, with many of the more developed countries in the bloc playing culprits. Leading the regional pack for reclaiming land from its coasts is Singapore, with Malaysia close behind.
— The Asean Post

Technical issue with Scoot plane grounds Bangkok passengers for 29 hours
Scoot passengers in Bangkok who were due to depart for Singapore on Monday (Nov 26) were hit with a 29-hour delay after their aircraft encountered technical difficulties.
— Channel News Asia

Mindset shifts needed in fight against diabetes, says Tharman as he opens ministerial conference
The fight against diabetes must extend beyond health ministries to employ a coordinated whole of government approach.
— Straits Times

Fintech poised to lure the bulk of investment in Southeast Asia
The investment ecosystem in Southeast Asia is poised for growth, driven by strong investor interest in the region’s tech sector, especially the fintech space, according to a study by US-based consultancy Bain & Company.
— Asean Today

Airport giants eye stake in PH aviation
Airport giants from Singapore and South Korea—regarded among the best in the region—are seeking to cement their place in the future of aviation in Luzon, where the Philippines’ congested capital is located.
— Inquirer

Indonesian developer probe raises woes in Singapore bond market
Singapore dollar notes by First REIT and those sold by OUE have dropped amidst a liquidity crunch. Bloomberg reports that Singapore’s bond market is suffering blows from an investigation launched into Riady family-backed Indonesian property developer PT Lippo Karawaci.
— Singapore Business Review

SIF grooms young entrepreneurs for regional integration
With Asia Pacific now seen as an important region in the global economic landscape, Singapore International Foundation (SIF) has set its heart on strengthening regional integration.
— Eleven Media

SG’s Cocoon Capital launches $20m second fund, eyes Vietnam, PH, Myanmar
Singapore-based seed investor Cocoon Capital is launching its second $20-million fund targeting seed stage funding in enterprise tech startups in Southeast Asia, particularly in the deep tech, fintech and medtech niches.
— Deal Street Asia

The road to Singapore’s political succession
Finance Minister Heng Swee Keat has emerged as the frontrunner among the next generation of government leaders to succeed Prime Minister Lee Hsien Loong, putting to rest years of speculation.
— Malay Mail

NavInfo building high-definition map of Singapore for autonomous cars
Singapore’s tree-lined streets may provide much-needed shade and respite from its unrelenting heat, but the same green cover is making it tougher for mapping companies like NavInfo to create the sort of precise maps that cars can use to drive themselves in future.
— The Star

Singapore malls take big gamble to outpace online shopping
Online shopping in Singapore is lacklustre even after Amazon Inc debuted its Prime service in mid-2017. The island’s malls are trying hard to keep it that way.
— Straits Times

GIC, Australian Reit Dexus form A$2b JV to invest in logistics
Singapore sovereign wealth fund GIC and Australian Reit Dexus have established a joint venture (JV) known as Dexus Australian Logistics Trust – a new A$2 billion (S$1.99 billion) unlisted trust – to invest in logistics properties Down Under.
— The Business Times

Competition for funds driving up fixed deposit rates
THE fight for fixed deposits is heating up as financial institutions are dangling higher rates to lock in funds before interest rates rise further, with alternative instruments also offering attractive options.
— The Business Times

Goldman told by US regulators to tighten risk oversight after 1MDB deal: FT
Goldman Sachs Group was told by regulators to tighten its risk oversight and increase reports of internal debates about deals just after the bank completed US$6.5 billion (S$8.94 billion) of bond financing for 1MDB, the Malaysian fund, the Financial Times reported.
— Straits Times

Offshore projects propel Singapore factory output
Output from Singapore’s factories grew at a better-than-expected pace in October as shipyard activity surged for the second consecutive month.
— Nikkei Asian Review

Golden Wall Centre sold en bloc for $276.2m
it could be redeveloped for hotel use at a plot ratio of 4.88.
— Singapore Business Review

Now is not the time for you to give up on the stock market
Fear is rampant in the stock market right now. Investors have taken it on the chin but it is not the time to give up.
— The Motley Fool

S’poreans work around ban to access thousands of TV box apps channels by simply changing DNS settings
Singaporeans can still continue to access thousands of channels made available by TV box apps despite having access blocked by Internet service providers.
— Mothership

Diesel-electric hybrid buses to hit the road in December 2018
The first 10 diesel-electric hybrid buses in a fleet of 50 will be on the road from next month (Dec 2018), as part of the national effort to make the public bus fleet here more environmentally friendly.
— Straits Times

High Court extends Hyflux debt moratorium to end of April 2019
Hyflux has convinced the Singapore High Court to extend its debt moratorium by four-and-a-half months to April 30 next year, despite arguments from some bank creditors that the insolvent firm should be kept on a tighter leash.
— Straits Times

3 Singapore Blue-Chip Shares That Warren Buffett Might Like
These three Straits Times Index (SGX: ^STI) stocks have characteristics that Warren Buffett likes.
— Motley Fool sg

DBS says its PayLah e-payment system can soon be used in 24 countries overseas
Singaporeans who use PayLah could soon be paying for their purchases overseas via QR code. DBS Bank, which runs PayLah, said on Monday (Nov 26) that it had signed a Memorandum of Understanding with UnionPay International, a subsidiary of China UnionPay, to allow QR code payments at close to 10 million merchants in 24 countries
— Business Insider

BlackRock is making changes at the top as the $6.4 trillion manager continues its pivot towards Asia-Pacific
US global investment giant BlackRock has appointed Geraldine Buckingham to lead BlackRock Asia-Pacific.
— Business Insider

How the impact of automation is being tackled in Singapore
In response to Minister of Parliament Saktiandi Supaat’s query on ensuring that the new opportunities and job roles brought about by automation will be equally distributed across all affected workers; Singapore’s Minister for Manpower, Josephine Teo, has provided data and statistics.
— Human Resources online

Pope Jai spearheads hiring the disabled in S’Pore
People with disabilities in Singapore no longer need have concerns about their future thanks to the hiring practices of a social enterprise running a Thai restaurant in the heart of the city where individuals with disability comprise 90 per cent of its workforce.
— Eleven Media

Which Blue-Chip Property Developer Is The Cheapest Now?
Based on price-to-book ratios, which blue-chip property development company in Singapore is the cheapest now?
— Motley Fool sg

Institutional Investors Have Been Buying These 3 Stocks Recently
These latest institutional buying activities might be a source of ideas for investors.
— Motley Fool sg

ChildAid’s through train down memory lane raises over S$2 million
Fun came in all eras at the 14th edition of ChildAid. The charity concert on Monday took audiences – including President Halimah Yacob – through 60 years of pop history, beginning with songs such as Fun Fun Fun by The Beach Boys (1964) and ending with Pharrell William’s Happy (2013).
— The Business Times

Scoot flight to Bangkok delayed 7 hours at Changi Airport due to technical issue
Passengers on a Scoot flight to Bangkok on Sunday (Nov 25) were stranded at Changi Airport for nearly seven hours due to a technical issue with the aircraft.
— Straits Times

After shell-shocking experience, 51 ‘illegals’ homeward bound
This Indian star tortoise, munching on some leafy greens and flowers, is one of 51 illegally trafficked tortoises that were repatriated by Animal Concerns Research and Education Society (Acres) to Bangalore yesterday. They were carefully put into crates for their flight back to India.
— Straits Times

Tian Tian Hainanese chicken rice sold at 2 branches in Hong Kong, 1 plate priced at S$14
That’s three and a half times the price they’re sold for in Singapore.
— Mothership

 

Feature photo Action for Aids Singapore

This week’s Singapore morning news feature photo acknowledges World AIDS Day, December 1

 

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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