Singapore morning news for November 28

Singapore morning news for November 28

Singapore morning news

Singapore to remain attractive to investors for the next 10-20 years: report
Strong demand from tech occupiers underpin its occupancy and rent growth.
— Singapore Business Review

Bill tabled to place crypto payment services Under Central Bank oversight
A new bill which will impact electronic wallets and digital payment tokens such as bitcoin has been tabled in Singapore’s parliament.

Scoot passengers stuck in Tokyo, Bangkok for 30 hours as technical issue grounds aircraft
Passengers on a Scoot flight bound for Singapore were kept waiting for almost 30 hours in Tokyo and Bangkok on Monday (Nov 26) due to an aircraft technical issue.
— The Straits Times

Eyewitness says mob that attacked Malaysian temple was in a ‘trance-like state’
The chairman of the Save Seafield Sri Maha Mariamman Temple task force, S. Ramaji, has come forward and said that the men who attacked the 147-year-old Sri Maha Mariamman temple in USJ25, Putra Heights before dawn on Monday, November 26, were in a state that was ‘trance-like.’
— The Independent sg

Business receipts climbed 8% in Q3
The infocomm segment’s business receipts surged 11.3%.
— Singapore Business Review

As Singapore enters twilight of Lee era, ruling party prepares for change
Modern city-state Singapore is a predictable place: it’s hot and humid every day, unabashedly pro-business, immaculately clean – no chewing gum anywhere – and the government is usually run by a Lee.
— The Edge

Heng Swee Keat: From handling LKY’s red box to S’pore Prime Minister-in-waiting
Not forgetting his time as a police officer either, we trace his ascent through the civil and public service.
— Mothership

‘Buy Singapore last’? Roundtable shrugs off Malaysian hawks’ fears of risk
THE Singapore-Malaysia relationship is unlikely to change by much, in the wake of this year’s election upset, despite fears over Malaysian leader Mahathir Mohamad’s reputation for a hawkish stance on the Republic, said speakers at the 30th Singapore Economic Roundtable on Monday.
— The Business Times

Army exercise puts Indonesia-Singapore defense ties in focus
A recent exercise highlighted ongoing efforts by both sides to boost the level of activity in the defense realm.
— The Diplomat

5 major risks that could derail growth in 2019
The Economist Intelligence Unit (EIU) has cut its 2019 growth forecasts for the global economy amid heightened geo-political risks on the horizon.
— The Edge

Southeast Asia’s Internet Economy Is Expected To Exceed US$240 Billion By 2025
According to a new report released by Google and Temasek, Southeast Asia’s internet economy is projected to exceed US$240 billion by 2025. The figure is US$40 billion higher than previously estimated. The higher estimated market value is thanks to a large, growing, and engaged internet user base.
— Motley Fool sg

Singapore’s approach to war on diabetes ‘generally in right direction’: Health Minister Gan Kim Yong
One of the important takeaways from the two-day global conference on diabetes that Singapore hosted this week is that the city’s approach to tackling the epidemic is “generally in the right direction”, Health Minister Gan Kim Yong said on Tuesday (Nov 27).
— Channel News Asia (annoying popups)

Singapore should share its expertise in reaching health goals with others: Health experts
Singapore has made great progress in its healthcare system, and should increase its presence on the international stage to share its knowledge and best practices with other countries, urged experts at a dialogue here on Tuesday (Nov 27).
— The Straits Times

In Singapore, online shopping will soon be mostly mobile
By next year, more than half of Singapore’s online shoppers will be making purchases on their phones and iPads – four years ahead of the global average.
— Tech In Asia

Vietnam ranks top in total funds raised via IPOs across S-E Asia
Despite fewer flotations, capital markets across South-east Asia raised S$12 billion in total funds via 135 initial public offerings (IPOs) in the first 101/2 months of this year, just shy of the S$13.5 billion raised through 178 IPOs in the whole of 2017.
— The Business Times

Maritime industry setting sights on cybersecurity tools
IN the past few weeks, there seems to have been a continuing trickle of horror stories about large companies, including airlines, having their systems hacked and data stolen. I am sure none of us would want to be in the situation the directors of Cathay Pacific now find themselves, having to explain how a data breach exposed personal information of up to 9.4 million passengers.
— The Business Times

The time is right to move the fintech sector towards maturity
This week, the world’s financial technology purveyors, investors, and regulators are assembling in Singapore for the city-state’s Blockchain Week. It has been a rough ride this year, with the industry suffering a US$600 billion drop in value and a corresponding loss to investors. There have also been many fraudulent initial coin offerings, spectacular thefts of digital assets, and disappointing rollouts of the underlying blockchain technology.
— The Business Times

Semiconductor firm SSMC opens $300m clean room
Semiconductor firm Systems on Silicon Manufacturing Company (SSMC) opened a $300 million clean room here yesterday.
— Straits Times

Algae growth on HDB flooring due to poor workmanship
The concrete flooring behind several Housing Board blocks in Woodlands was found to be covered in algae shortly after it had been repaved, prompting residents to alert the town council.
— Straits Times

First person jailed over $40m SkillsFuture scam; helped sister hide $6.7m at home
A jobless man who helped his sister and brother-in-law launder and hide part of the proceeds of their $40 million SkillsFuture scam – the largest case of a government agency being defrauded – was sentenced to five years and eight months’ jail on Tuesday (Nov 27).
— Straits Times

KPE, Geylang flash floods caused by lapses at nearby construction site: PUB
PUB will take action against a construction firm for failing to maintain the drainage on one of its construction sites, leading to flash floods in Geylang on Nov 11, the national water agency said in a statement on Tuesday (Nov 27)
— Today Singapore

Knowledge, ignorance and climate change
NO matter how smart or educated you are, what you do not know far surpasses anything that you may know. Socrates taught us the virtue of recognising our limitations. Wisdom, he said, requires possessing a type of humility manifested in an awareness of one’s own ignorance.
— The Business Times

Service sector revenue rises across the board – up 8% in Q3
Revenue grew across the board in the service sector in the third quarter.
— Straits Times

Cyber attack can spark a run on banks: MAS
A cyber attack on financial institutions could undermine consumer confidence and spark a run on the banks, warned a new report.
— Straits Times

Genting sues Disney, Fox for $1.4b over derailed theme park
First Century Fox have been sued for more than US$1 billion (S$1.38 billion) by casino operator Genting Malaysia, which accused them of abandoning a contract related to its planned construction of the first Fox-branded theme park.
— Straits Times

Technical officer jailed 45 months for cheating PUB into awarding contracts worth almost $2m
A technical officer with national water agency PUB abused his position and duped it into awarding 718 contracts worth almost $2 million to companies registered under his wife’s name.
— Straits Times

7 things you can hire a hacker to do and how much it will (generally) cost
You can hire a hacker to do everything from hijacking a corporate email account to draining millions of dollars from an online bank account.
— Business Insider

Change is the mantra for future law practice in Singapore
AT a recent luncheon this year hosted by Justice Aedit Abdullah for key executives of local law firms, a guest speaker, Mark Cohen, a well-known change advocate from the US, painted a compelling scenario where competing legal services companies with innovative client solutions have muscled into what was once the exclusive domain of practising lawyers.
— The Business Times

New GI test may boost development of healthy foods
A new technique for testing food known as the Glycaemic Index Speed Test (Gist) could make the process of developing healthier food products cheaper and faster.
— Straits Times

131 K2 pupils & adults down with food poisoning after eating food from FoodTalks
Another group of 131 people in Singapore have fallen ill after consuming food from a caterer.
— Mothership

Singapore Cricket Club allegedly barred entry to domestic helper and relegated her to the carpark
A Singapore Cricket Club guest has alleged that the establishment barred his family’s domestic helper from entering the club, even when his father – a club member – tried to register the helper as a guest, and relegated the helper to the carpark.
— The Independent sg

ESM Goh Chok Tong dishes about Prime Minister-in-waiting Heng Swee Keat in recent interview
On New Year’s Eve last year, Emeritus Senior Minister Goh Chok Tong shared a Facebook post on the fourth-generation leadership, in the hopes that his New Year’s wish will be fulfilled.
— Mothership

Singapore’s 2019 gaming industry to suffer spillover effects of VIP weakness: Fitch
Fitch Ratings has identified Singapore to be among the markets vulnerable to weakness from China’s VIP gamblers, resulting in a flat VIP segment next year.
— The Edge

Singapore Life gathers interest from 800 consumers to invest in its 3% Endowment Plan
Singapore Life announced that since its pre-registration opened on Nov 23, 2018, more than 800 prospective clients have lodged interest to invest in its third savings fund – 3% Endowment Plan.
— The Edge

TPG could suffer blows from poor network quality: analyst
Unless it will boost its capex spend which currently stands at $65m, 10 times smaller than Starhub’s estimated $600m spending for its 4G network since 2013.
— Singapore Business Review

Singapore’s Muslim community raises $360,000 for Sulawesi earthquake relief efforts
A cheque for $362,510 was presented on Tuesday (Nov 27) to independent disaster relief agency Mercy Relief Singapore.
— The Straits Times

Wandering deer on Lornie Road highlights impact on wildlife by construction of highway
A deer was apparently seen wandering about in the middle of traffic late Sunday (25 Nov) night around 11pm on Lornie Road. A member of the public known only as Natalie shared a video with Stomp showing a confused deer slowly turning in circles on Lornie Road. A literal deer caught in the headlights.
— The Online Citizen


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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