Singapore morning news for October 26

Singapore morning news for October 26

Singapore morning newsChangi passenger traffic up 6.1% to 5.23 million in September
Visitors from China and Japan boosted monthly volumes.
— Singapore Business Review

Organised criminal group crippled: 66 arrested, bank accounts frozen and over $428k cash seized
Sixty-one men and five women, aged between 17 and 63, were arrested on Oct 24 for their suspected involvement in gang-related activities, operating of illegal gambling dens, and other criminal activities, in a large-scale operation against a suspected Organised Criminal Group (OCG).
— Stomp

Singapore to hang two drug traffickers amid calls for a halt
Singapore is due to execute two convicted drug traffickers on Friday after hanging a man on Wednesday for the same offense amid fresh calls for the wealthy state to abolish the death penalty.
— Reuters

New insurance to guard against price surges on ride-hailing apps when it rains
To deal with a big peeve among users of ride-hailing applications, a new insurance product promises protection against price surges for rides during wet weather.
— TodayOnline

Two clemency petitions submitted to the Istana calling for Prabu N Pathmanathan’s imminent execution to be halted
Earlier today, two petitions of clemency addressed to President Halimah Yacob were submitted at the Istana – the official residence of the President of Singapore.
— TOC

Sembcorp Marine’s losing streak continues with Q3 net loss
The group reported a loss per share of 1.42 Singapore cents, compared with earnings per share of 4.82 Singapore cents previously, while net asset value stood at 111.89 Singapore cents a share, against 116.81 Singapore cents as at Dec 31, 2017.
— The Business Times (annoying pops)

Govt can do more to reduce concentration of disadvantaged and privileged students in some schools: Ong
Singapore’s education system continues to spur social mobility for students from poorer backgrounds, but Education Minister Ong Ye Kung acknowledged that more can be done to counter the “unhealthy trend” of disadvantaged and privileged students being concentrated in certain schools.
— TodayOnline

Workers’ Party MPs make public appeal to crowdfund ongoing AHTC lawsuit costs
The three Workers’ Party Members of Parliament who are being sued being sued by the Pasir Ris-Punggol Town Council (PRPTC) and an independent panel acting on behalf of the Aljunied-Hougang Town Council (AHTC) over an alleged breach of fiduciary duties as town councillors have appealed to the public to assist them in funding their ongoing legal costs for the lawsuit.
— TOC

Plantronics Announces New Distribution Partnership with Exclusive Networks to Bring Full Portfolio of UCC Solutions to Southeast Asian Customers
Plantronics, an audio pioneer and communications technology leader, today announced a new partnership with regional distribution expert Exclusive Networks to bring its growing audio solution portfolio to Southeast Asia markets, Indonesia, Malaysia, Philippines, Singapore, and Thailand.
— AEC News Today/PR Newswire (media release)

Divorced woman must pay part of estranged sons’ university fees
The Court of Appeal has ruled that a 62-year-old divorced woman has to contribute to the education expenses of her two adult sons, from whom she has been estranged since she left home when they were teens.
— The New Paper

Singapore capable of dealing with public health threats, can improve response to nuclear emergencies: Report
The Republic, which dealt with the Severe Acute Respiratory Syndrome in 2003, the H1N1 flu pandemic in 2009 and the Zika virus in 2016, has a highly developed capacity to detect and respond to potential public health emergencies.
— TodayOnline

Circulate Capital Announces US$90 Million in Expected Funding To Combat Ocean Plastic
Circulate Capital, the investment management firm dedicated to incubating and financing companies and infrastructure that prevent ocean plastic, today announced that it expects to receive US$90 million in funding for its strategy to combat ocean plastic from several of the world’s leading consumer packaged goods and chemical companies, including PepsiCo (NASDAQ: PEP), the first investor; Procter & Gamble (NYSE: PG), Dow (NYSE: DWDP), Danone (EPA: BN), Unilever (NYSE: UN) and The Coca-Cola Company (NYSE: KO).
— AEC News Today/PR Newswire (media release)

JET8 Foundation Launches DENSummit, Empowers Change-makers through Social Media Technology
The 18th of October marks the launch of DENSummit 2018, a movement created by Singapore-based non-profit technology company, JET8 Foundation.
— AEC News Today/PR Newswire (media release)

Revealed: Singapore’s vision for biometrics in government
The Singapore Government has launched an app for citizens to use their fingerprint and facial recognition to access public services, giving an insight into their vision for biometrics enabling seamless government services.
— GovInsider

Singapore’s AUM industry up 19% to S$3.3 trillion in 2017
TOTAL assets managed by Singapore-based asset managers rose by 19 per cent to S$3.3 trillion at the end of 2017, compared to S$2.7 trillion in 2016, outpacing the 15 per cent average growth rate of the previous five years.
— The Business Times

Success of WTA Finals celebrated with art piece
To celebrate the success of Singapore hosting the BNP Paribas WTA Finals Singapore presented by SC Global for five years, an art piece was unveiled at the Singapore Sports Hub yesterday.
— The New Paper

Bank, property and tech sectors hit by poor sentiment
Local banks and technology heavyweights including Venture Corp have slipped back to their 2017 levels, while some counters of property developers have fallen to levels last seen in 2016.
— Straits Times

Industrial property sector outlook stable in Q4 and beyond
THE outlook for the industrial property sector is expected to remain stable going into the fourth quarter and beyond, although the impact from the US-China trade war remains a potential risk.
— The Business Times

EU and Singapore partner on digital identity
The European Union (EU) and Singapore will form a joint task force to co-develop electronic ID frameworks that can work across borders, and trust services, like e-signatures.
— Gov Insider

Asean key to Singapore’s future amid US-China tensions, say economists
THE Asean market is crucial for Singapore’s future growth, not least against the backdrop of United States-China trade tensions, said panellists at the 11th Singapore Economic Policy Forum on Thursday.
— The Business Times

Changes to boost access to civil justice proposed
Proposed changes to civil procedures by an appointed commission will transform and not merely reform the justice system, said Judge of Appeal Steven Chong, who noted the public will be consulted on the proposals.
— Straits Times

Why did Dyson pick Singapore to build its electric car?
When James Dyson, the billionaire British inventor of the bagless vacuum cleaner, unveiled a plan to build an electric car plant in Singapore, it raised a few eyebrows.
— Reuters

MHA relooks curbs on sale of food with alcoholic content
Have a late night craving for rum raisin ice cream?
— Straits Times

Lippo’s troubles spell credit risks for Reits, but OUE could benefit
THE Indonesian authorities’ probe into alleged bribery linked to the Lippo Group’s US$21 billion Meikarta property project near Jakarta is unlikely to have a significant impact on Riady-linked counters listed in Singapore, analysts say.
— The Business Times

Tech glitch freezes Grab fares at $6
Ride-hailing firm Grab’s app was hit by a technical glitch yesterday afternoon, resulting in a $6 fare for all trips.
— Straits Times

Credit Counselling Singapore to extend help to owners of failed or failing small firms
CREDIT Counselling Singapore (CCS) is extending its services beyond consumers to owners of failing or failed small enterprises, it announced on Thursday.
— The Business Times

Grab inks deal with Mastercard to offer prepaid cards
Singapore-based Grab has partnered Mastercard to issue prepaid cards tailored to South-east Asian consumers, extending the use of Grab’s digital wallet and helping its unbanked users transact online.
— Straits Times

STI plunges below 3,000 for first time since January 2017 amidst US tech equities sell-off
Growing concern over US consumer data privacy spooked investors.
— Singapore Business Review

New lab, scholarships to boost electronics sector
A new research laboratory that aims to help develop advanced semiconductors that are more efficient and cheaper was launched yesterday, along with $1.5 million in scholarships to grow the pool of talent in the electronics sector.
— Straits Times

Industrial property prices down 1.1% in Q3
The industrial property sector in Singapore continued to soften as prices dipped 1.1% YoY in Q3, according to JTC, although the situation may soon turn around in the coming year as supply comes online
— Singapore Business Review

Company Briefs: Marina Bay Sands
A slump in VIP play at Marina Bay Sands has dragged third-quarter earnings – before interest, tax, depreciation and amortisation – down 5.2 per cent to US$419 million (S$578 million) from the same period a year earlier.
— Straits Times

Chart of the Day: Singapore’s property returns poised to beat that of US and UK
However, it lags behind Australia and Hong Kong.
— Singapore Business Review

SP Group to double electric vehicle charging points to 1,000 by 2020, will include higher-powered chargers
Energy utilities provider SP Group will double the number of electric vehicle charging points to 1,000 across the island by 2020, creating the largest and fastest charging network in the Republic.
— Today Singapore

Grab inks prepaid card partnership with Mastercard
Customers can transact and top up their prepaid cards through any drivers and merchants
— Singapore Business Review

Skip the queues, fill your tummy with help from Facebook Messenger
There is now yet another way to beat the queues at dining outlets during meal times apart from using food delivery services.
— Today Singapore

CapitaLand Mall Trust NPI up 1.1% to $122.68m in Q3
CapitaLand Mall Trust recorded a net property income (NPI) of 1.1% YoY to $122.68m, an announcement revealed. Profits rose 4.9% YoY to $103.54m from $98.68m.
— Singapore Business Review

Woman offered ‘commission’ to deliver duty-unpaid cigarettes from JB after responding to job ad
Stomper Vani responded to an online job listing that was looking for drivers — but was shocked when she found out what the job entailed.
— Stomp (StraitsTimes)

WATCH: Otter chaos as Bishan and Marina otter families clash at Kallang Basin
Battle formations, people. After a year of peace between the two smooth-coated otter families of Singapore, both clans inadvertently went head to head yesterday morning in Kallang Basin, the arena that hosted their little skirmish.
— Coconuts Singapore

US charges Singaporean laundered funds for NKorea
The United States imposed sanctions Thursday on the Singapore-based director of a commodities company accused of laundering money for North Korea through the US financial system.
— Bangkok Post (annoying pops)

 

Feature photo Ghetto Singapore/ National Archives of Singapore

 

This week’s Singapore morning news feature photo acknowledges World Day for Audiovisual Heritage, October 27.

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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