Singapore morning news for October 12

Singapore morning news for October 12

Singapore morning newsSingapore, Indonesia ink pact to offer protection, global arbitration access to investors
SINGAPORE and Indonesia on Thursday signed an agreement to promote and protect investments, with the treaty promising Singapore companies operating in Indonesia protection and access to international arbitration in the event of investment disputes.
— The Business Times

Maynilad wins arbitration case vs PHL govt in Singapore court
In its disclosure, the company said the decision of the Singapore High Court became final after the Philippine government decided to no longer appeal the dismissal of its appeal on September 4. The government could appeal the decision after 30 days, or up to October 4.
— Business Mirror

World’s longest non-stop flight from Singapore to New York set for take off
Singapore Airlines will claim the crown of the world’s longest service by miles flown on Thursday when it re-starts its direct service between Singapore and New York.

Climate catastrophe warnings greeted with global silence
NERO, the Roman emperor renowned for debauchery and extravagance, is said to have fiddled while Rome burnt. Fast forward a couple of millennia, and little seems to have changed.
— Business Times

S$105.3m Nassim deal is highest for GCBs
IN what is believed to be the biggest transaction in absolute price terms in a Good Class Bungalow (GCB) Area, a two-storey bungalow in Nassim Road near the Botanic Gardens was transacted earlier this year for S$105.3 million.
— Business Times

US telco CenturyLink to open security ops centre in S’pore
American telecommunications company CenturyLink yesterday said that it will be opening a new security operations centre in Singapore by early next year.
— Straits Times

Republic took steps to make a change: World Bank chief
NUSA DUA (Bali) • Singapore got its top-of-the-world healthcare and education systems because its leaders took the necessary steps to develop them, and not because it was filled with “crazy rich Asians”.
— Straits Times

STI sinks deeper into the red to 20-month low
Local shares crashed to a 20-month low yesterday as investors rushed for the exits amid a global share rout.
— Straits Times

World’s longest non-stop commercial service takes flight
Last night, for the first time in five years, Singapore Airlines (SIA) Flight SQ22 took to the skies from Changi Airport.
— Straits Times

S’pore is best country to live for expats for 4th year running, but work-life balance a concern: HSBC survey
SINGAPORE — For a fourth straight year, Singapore is the country of choice for expatriates, although its high cost of living and poor work-life balance were noted.
— Today Online

Singapore tops new World Bank human capital rankings
NUSA DUA, INDONESIA (REUTERS) – The World Bank Group unveiled a new system on Thursday (Oct 11) to rank countries based on their success in developing human capital, an effort to prod governments to invest more effectively in education and healthcare. Singapore topped the list, followed by South Korea and Japan.
The bank’s “Human Capital Index”, showed that poor African countries fared the worst in the rankings, with Chad and South Sudan taking the two lowest spots.
— Straits Times

Four Asean nations to lift barriers to cross-border investment advisory
SOUTH-EAST Asian financial regulators have agreed to allow cross-border investment advisory services and to set standards for social and sustainability bonds, according to announcements from the Asean Capital Markets Forum (ACMF) in Singapore.
— Business Times

New Zone to Opt for ICO Instead of an IPO in Singapore
This decision of going the ICO way has garnered various responses from both Crypto and Non-Crypto spheres. Stepping back from their original plan of going public a year back, to marching forward and taking an offbeat resolution of crowdfunding through cryptos, New Zone has set tongues wagging in the ferrous trading circles.
— AEC News Today/PR Newswire (media release)

MAS draws a clear line to prevent shadow banking
EVEN as the Monetary Authority of Singapore (MAS) is welcoming of fintech players, it will draw a clear line to prevent shadow banking from emerging from payment startups.
— Business Times

UOB reviewing insurance deal with Prudential
United Overseas Bank Ltd is reviewing its insurance business, including an existing partnership with Prudential Plc, after Southeast Asia witnessed a wave of lucrative distribution deals, people familiar with the matter said.
— The Star Online

CenturyLink to open security operations center in Singapore
In the era of digital business, enterprises need to be able to assess and mitigate cybersecurity threats. According to the CenturyLink 2018 Threat Report, China, South Korea and Vietnam are at the top of the list of channels and targets of malicious cyber activity in Asia Pacific.
— AEC News Today/PR Newswire (media release)

Singapore central bank keeping close watch on property market
The Monetary Authority of Singapore (MAS) is keeping a close eye on the property market after the city-state took a “decisive set of measures” three months ago to cool things down.
— TodayOnline

CenturyLink to open Singapore SOC with behavioural analytics capabilities
CenturyLink has announced plans to open a security operations centre (SOC) in Singapore, which will be its first such facility to showcase user and entity behavioural analytics to identify insider threats.
— ZDNet

Dubai-based theme park business planning IPO in Singapore
Dubai-based Sim Leisure is planning a Singapore initial public offering of its Malaysian theme park business, which offers water slides, dunk tanks and tree swings at its Penang location.
— Arabian Business

Energy saving a part and parcel of Asahi Kasei Plastics Singapore’s operations
THE second Outstanding Energy Manager of the Year award winner Pandurangan Siva started his career in Asahi Kasei Plastics Singapore (APS) in 2007 as a senior engineer in the engineering department. His first project was to conduct a plant-wide energy audit with grant support from the National Environment Agency (NEA).
— The Business Times

The Capitol Kempinski and other new hotels in Singapore for your year-end staycation
The Capitol Kempinski Hotel Singapore began operations on Oct 1, while Six Senses Maxwell will welcome its first guests on Dec 1.
— Channel News Asia

Singapore tops World Bank ‘human capital’ rankings based on health, education (video)
Singapore topped the World Bank Group’s newest index which ranks 157 countries based on the productivity of the next generation’s workers.
— Channel News Asia

Free EB-5 Visa Consultations In Singapore October 21st -23rd: Meet With U.S. Immigration Fund EB-5 Experts & Leading Immigration Attorneys
Interested investors can schedule a free consultation in Singapore at the Pan Pacific Hotel from October 21st to the 23rd.
— AsiaOne

First phase of Lornie Highway to open on Oct 28
After repeated delays, the first phase of the Lornie Highway – previously known as the Bukit Brown Road – will open on Oct 28.
— The New Paper

KFC investigating claim that outlet breached ‘no plastic straws’ rule
Fast-food chain KFC is investigating reports that one of its Singapore outlets breached the company’s “no plastic straws” policy, less than four months after it started a campaign in June to stop providing them.
— The New Paper

Singapore tops new global index in human capital
Singapore got its top healthcare and education systems because its leaders took the necessary steps to develop them, not because it was filled with crazy rich Asians.
— The New Paper

Bukit Panjang CC opens green exhibition
Bukit Panjang Community Club (CC) has ramped up its green efforts by launching a free permanent exhibition explaining the importance of sustainability.
— Straits Times

SPH Reit net property income dips 1.2% to $166m
SPH Reit’s net property income fell 1.2 per cent to $166 million for the full year ended Aug 31, owing to lower revenue at Paragon mall, though there were higher takings from The Clementi Mall and the recently acquired The Rail Mall.
— Straits Times

Python bites woman on second floor of HDB block
An early morning search for a missing cat left a woman bleeding profusely and in need of stitches.
— Straits Times

Singapore, Indonesia to deepen economic links
Singapore and Indonesia announced several initiatives yesterday to deepen their relationship, including agreements to protect each other’s investors and to shore up financial and monetary stability in the region.
— Straits Times

CPA Australia unveils tech-focused courses in Singapore for accountants, finance professionals
PROFESSIONAL accounting body CPA Australia has launched two new technology-focused training programmes in Singapore for accounting and finance professionals to stay competitive, as more businesses undergo digital transformation.
— Business Times

Is Singapore becoming more favorable to crypto players?
MAS said that it will help crypto firms set up local bank accounts, on top of leveraging blockchain adoption.
The Monetary Authority of Singapore (MAS) managing director Ravi Menon said in a Bloomberg interview that they will step up to help cryptocurrency firms that are facing problems setting up local bank accounts.

Petition lodged by hawkers paying the price for tray returns at Jurong West Hawker Centre
Feeling the pinch from paying hundreds of dollars a month for customers to return their trays, some hawkers at Jurong West Hawker Centre have petitioned the National Environment Agency (NEA) for the operator to remove the fee of 20 cents for each returned tray.
— Today Online

Currency deal between S’pore and Indonesia’s central banks will shore up confidence amid financial instability: Ravi Menon
An upcoming deal between Singapore and Indonesia for a US$10 billion local currency swap and US dollar repurchase agreement is aimed at shoring up monetary and financial stability in the region, even as global markets are being shaken by rising interest rates, the head of Singapore’s central bank said on Thursday (Oct 11).
— Straits Times

58-year-old Singaporean man sentenced to death for drug trafficking
A Singaporean man who was arrested while trying to buy heroin to sell it to others has been sentenced to death.
Han Fang Guan, who is 58, received the mandatory death penalty last Friday (5 October) for attempting to possess 18.62g of pure heroin for the purpose of trafficking.
— Yahoo News

MRT trains, station & public buses get ready for Deepavali in S’pore
Two trains, one MRT station, five buses, and an integrated hub have been decked out with Deepavali-themed decorations.
— Mothership

KF Seetoh writes open letter to Senior Minister of State about how landlords killing hawkers with fees
The main gripe is against the trend of Social Enterprise Hawker Centres sprouting up all over the island as of late, which have been touted as so-called “not-for-profit social enterprises” — but are increasingly seen as anything but not-for-profit.
— Mothership


Feature photo Singapore Post

This week’s Singapore morning news feature photo acknowledges World Post Day, October 9 @UPU_UN


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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Maria Mirasol Rasonable graduated with a Bachelors Degree in journalism from Polytechnic University of the Philippines, Santa Mesa, Manila, Philippines.

She previously covered police rounds for Philippine Daily Inquirer as a trainee before becoming editorial staff at Gospel Komiks under the Communication Foundation for Asia (CFA-MG), Santa Mesa, Manila where she wrote lifestyle and trending fashion and styles articles.

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