Singapore morning news for April 18

Singapore morning news for April 18

Singapore morning newsSingapore exports slump on worst electronics drop since 2013
Singapore’s electronics exports slumped in March by the most since 2013, an ominous sign that it will take longer for the city state to shake off a regional demand slowdown from earlier this year.
— The Edge Singapore

Digitalisation push puts Singapore banks in hiring mode
THE axe may be falling on investment banking staff across the globe, but there’re plenty of jobs still unfilled in Singapore banks – you just need to know where to look.
— The Business Times

Biggest fall in non-oil exports since 2016
Singapore’s non-oil domestic exports (Nodx) slumped 11.7 per cent last month, after a short-lived rise of 4.8 per cent in February, on the back of the biggest year-on-year drop for electronics exports since 2013.
— Straits Times (annoying popups)

Singapore dollar rises to 17-month high against Malaysian ringgit
The Singapore dollar rose to a 17-month high against the Malaysian ringgit on Wednesday (Apr 17), as demand for the Malaysia currency weakened amid concerns the country’s debt may be removed from a key global bond index.
— CNA (very annoying popups)

Researchers in Singapore demonstrate new quantum key distribution technique over Singtel’s fibre network
The National University of Singapore (NUS) has announced that a team of researchers, working in partnership with Singtel, has demonstrated a new technique to advance quantum key distribution (QKD).
— ZD Net

Part of Jurong Lake District to be developed into a key tourist attraction by 2026
The Jurong Lake District is set to be transformed into a major tourist destination, after plans were announced on Tuesday (April 16) to develop a 7-hectare site within the area.
— Today Online

Army Exercise Showcases Growing India-Singapore Defense Collaboration
As was noted in these pages earlier this week, India and Singapore have just completed their annual joint army exercise, called “Bold Kurukshetra 2019”.
— Diplomat

Singaporeans petition President Halimah to appoint a commission of inquiry to look into Hyflux
Over 800 individuals have petitioned President Halimah Yacob to appoint a commission of inquiry to look into Hyflux.
— The Independent

Foreigners departing Singapore no longer have to stamp passport beginning Monday
Beginning April 22, Singapore will no longer require all foreign travellers departing the republic to have the departure immigration endorsement or stamp of departure in their travel document.
— Malaysia Capture

Singapore is betting big on India’s property market — but it’s part of a larger international trend
The Indian real estate sector has seen a lot of international investments over the past few years – many of which seems to have come from one source: Singapore.
— Business Insider

PUB to terminate WPA with Hyflux, bound to take over Tuaspring plant
Singapore’s national water agency, Public Utilities Board (PUB) has decided to terminate its Water Purchase Agreement (WPA) with debt-ridden water treatment firm Hyflux and to subsequently take over the company’s Tuaspring desalination plant.
— The Online Citizen

Pritam apparently not a choice at all for next PM : Poll
Many names were thrown out in the ongoing debate on who should be the next Prime Minister (PM) of Singapore.
— The Independent

PUB issues termination notice to Tuaspring, will take over desalination plant in 30 days
National water agency PUB on Wednesday (Apr 17) issued a notice to Hyflux subsidiary Tuaspring to terminate the water purchase agreement and take over the Tuaspring Desalination Plant (TSDP).
— CNA (very annoying popups)

COE prices close mostly higher for April 17 bidding exercise
Certificate of Entitlement (COE) prices closed mostly higher at the end of the latest bidding exercise on Wednesday (April 17).
— Today Online

New platform to help SMEs navigate regulations, business transformations
A NEW one-stop platform for enterprises to seek advice and submit feedback, on top of ongoing government efforts, will help ease challenges that business face in navigating regulations and business transformations, Senior Minister of State for Trade and Industry Chee Hong Tat said on Wednesday.
— The Business Times

PUB to take over Tuaspring to safeguard water security
National water agency PUB is taking over debt-ridden Hyflux’s Tuaspring desalination plant to safeguard Singapore’s water security.
— Straits Times (annoying popups)

Business trips to Singapore now cost less than before, but barely so
A typical business trip to Singapore now costs an average of US$468 ($633) per day, down slightly from the daily average of US$479 in 2018.
— The Edge Singapore

Singapore March exports post worst fall in more than 2 years
Singapore’s non-oil domestic exports (NODX) slumped to their worst decline in more than two years in March, with shipments to most of its top markets declining.
— CNA (very annoying popups)

Neurosurgeon and NUH sued for alleged ‘medical negligence’
A neurosurgeon from the National University Hospital was sued after his patient fell into a vegatative state five years ago in 2014, after a brain operation.
— The Independent

Singapore SMEs get one-stop platform to provide feedback, seek help
SINGAPORE enterprises now have a one-stop platform to provide feedback to public agencies and seek advice on regulations, with the launch of the SBF-ASME Pro-Enterprise Clinic on Wednesday.
— The Business Times

DBS says exposure by REITs to CWT default more manageable than thought
DBS Group Research is not overly worried about the local industrial REITs – AIM APAC REIT (AA REIT), Mapletree Logistics Trust (MLT) and Cache Logistics Trust (CacheLog Trust) – that have exposure to Hong Kong-listed CWT International (CWTI).
— The Edge Singapore

Singapore Exports Slump on Worst Electronics Drop Since 2013
Singapore’s electronics exports slumped in March by the most since 2013, an ominous sign that it will take longer for the city state to shake off a regional demand slowdown from earlier this year.
— Bloomberg

Ascendas India Trust increases debt programme limit by $1b
Ascendas India Trust has increased the limit of its multicurrency debt programme by $1 billion, raising the likelihood that the India-focused IT business park real estate investment trust will be looking to borrow more funds.
— Straits Times (annoying popups)

Singapore exports see biggest fall since 2016, raising risks to GDP forecast
SINGAPORE’S export growth returned to the negative zone in March, partly on the previous year’s high base, according to government agency Enterprise Singapore (ESG) on Wednesday.
— The Business Times

Easter death metal show definitely cancelled, “no plans for postponement”
The controversial death metal concert by Singaporean band Devouror is definitely cancelled, much to the dismay of fans and delight of critics. Goatlordth Records, the organiser of the gig, stated that there are no plans to move the performance to a later date.
— The Independent

In MINDEF’s case against Dr Ting & TOC, POFMA would serve them better than POHA did
Back in 2015, TOC found itself fighting legal battle the Ministry of Defence over a report published about events that transpired between the company of Dr Ting Choon Meng, MobileStats Pte Ltd, and the Ministry of Defence (MINDEF).
— The Online Citizen

NParks volunteer fined for organising illegal night photography session in Windsor Nature Park
A nature guide abused his position as a volunteer with the National Parks Board (NParks) to lead a photography group into Windsor Nature Park after hours, despite knowing full well that he did not have the authority to do so.
— Today Online

Hyflux woes worsen as Singapore regulators review disclosures
Singapore authorities said they are reviewing debt-laden water treatment company Hyflux’s disclosures to see if the firm has breached any laws.
— The Star Online

1MDB saga: What the public needs to know
FOR a country well-reputed for its robust regulatory framework, the 1Malaysia Development Berhad (1MDB) saga has brought the vigilance of financial institutions in Singapore sharply into the spotlight.
— The Business Times

Jewel Changi Airport shines on first day of public opening
-From 6am, Jewel Changi Airport drew steady stream of locals, as well as arriving and departing travellers.
— Straits Times (annoying popups)

MAS on Hyflux debacle: We did our part but investors must exercise care
With more members of the public writing to ST Forum getting angry with MAS for perceivably not doing its job in regulating the issuance of Hyflux’s high risk bonds, MAS Director of Corporate Communications Jerome Lee gave a reply on ST Forum today.
— The Online Citizen

UBS Singapore to take up all 8 floors of office space at redeveloped Park Mall building
Developer SingHaiyi Group and its joint venture (JV) partners – Suntec Reit and Haiyi Holdings – announced on Wednesday (April 17) that UBS Singapore has signed on to take up all the office space at the redeveloped Park Mall building.
— Straits Times (annoying popups)

No more passport stamp when you leave Singapore? 5 other ways travelling has changed
The news that Singapore will no longer stamp travellers’ passports when they leave the country sounds the death knell for the much-loved (among some) process of packing the pages of your passport with as many chops as possible from as many countries as possible.
— CNA (very annoying popups)

Far East Hospitality expands regional footprint in Vietnam with 2 hotel management contracts
Far East Hospitality, the operator of hotels and serviced residences, announced that it is expanding its regional footprint into Vietnam.
— The Edge Singapore

Inside Singapore’s new Jewel Changi Airport
Singapore’s Jewel Changi Airport complex has just opened to the public.
— CNN (video)

NUH and head neurosurgeon sued for more than S$2m over alleged negligence
The family of a 64-year-old housewife who went into a permanent vegetative state in 2014 after undergoing brain surgery at the National University Hospital (NUH) is suing the hospital and its head of neurosurgery for an estimated S$2.5 million over alleged medical negligence.
— Today Online

Surprise export dive sparks fears of revision in GDP outlook
REGIONAL economies were behind the shock double-digit drop in Singapore’s March exports, even as economists warned of a worsening drag on full-year economic growth.
— The Business Times

Asian lawyers prefer S’pore as venue for dispute resolution: Poll
A survey has shown that more legal practitioners in Asia now prefer to resolve disputes in Singapore, suggesting that the Republic’s status as a dispute resolution hub has strengthened over the past few years.
— Straits Times (annoying popups)

Foodies make a beeline for popular eateries as Jewel Changi Airport opens
By 11am on Wednesday (Apr 17), the official opening day of Jewel Changi Airport, the queue outside Shake Shack had grown so long that it snaked around an atrium, split into four barricaded sections.
— CNA (very annoying popups)

Ms Teo says PCP helps workers but doesn’t address the real issue of mass foreign imports
At her ministry’s annual workplan seminar held at Orchid Country Club yesterday (16 Apr), Manpower Minister Josephine Teo said that career mobility would be the main thrust of her ministry’s Adapt and Grow programmes.
— The Online Citizen

We went inside Singapore airport’s new ‘Jewel.’ Here’s what we saw
Named “world’s best airport” for seven consecutive years by Skytrax, Changi Airport opened its new hub, “Jewel” to the public on Wednesday.

Singapore Charges its First National for Terrorism Financing
Singapore’s Ministry of Home Affairs has confirmed that a Singaporean man has been charged for allegedly financing the publication of ISIS propaganda.
— Regulation Asia (paywall)

CNB arrests 4, seizes large assortment of drugs worth about S$45,000
Four suspects were arrested and a large assortment of drugs worth about S$45,000 seized over two days this week, said the Central Narcotics Bureau (CNB) on Wednesday (Apr 17).
— CNA (very annoying popups)

New business clinic formed to help SMEs reduce government red tape
A one-stop facility dubbed a regulatory concierge service has been started to allow firms to understand government rules without having to contact individual agencies.
— Straits Times (annoying popups)

Intel withdraws from 5G smartphone modem business
AFP – US electronics giant Intel said Tuesday it was withdrawing from the 5G smartphone modem business, hours after Apple and American microchip manufacturer Qualcomm announced they had clinched an agreement to end a battle over royalty payments.
— The Online Citizen

OCBC raises ComfortDelGro’s fair value estimate amid expectations of smoother ride ahead
OCBC Investment Research is keeping its “hold” call on ComfortDelGro (CDG), but raising its fair value estimate to $2.63 from $2.38 on the back of improved market sentiment for the public transport operator.
— The Edge Singapore


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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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Piseth Pov graduated with a Bachelor’s degree in Economics Science from the Royal University of Law and Economics, Phnom Penh in 2017, and a Bachelor’s degree in English Communications from Western University, Phnom Penh, the same year.

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