Singapore morning news for April 5

Singapore morning news for April 5

Singapore morning newsSingapore among world’s top digital economies but ranks worst at meeting psychological needs: Survey
Despite widespread utility of digital services across the globe, a range of basic, self-fulfillment and psychological needs are still failing to be met, suggests a recent survey by Dentsu Aegis Network in partnership with Oxford Economics.
— The Edge Markets

Singapore: Importer fined $3,000 for illegal import of vegetables
A Singapore importer was fined $3,000 for bringing in fresh vegetables that did not conform to import permit requirements, the Singapore Food Agency said in a release on April 3.
— Fresh Plaza

Good things worth waiting for, says MBS chief
EVER since Marina Bay Sands (MBS) opened for business in April 2010, its senior executives have consistently made known their desire to invest more in Singapore and to expand the footprint of the integrated resort (IR).
— The Business Times

Shipping firms that breach new fuel rules face jail: MPA
Singapore has a message for shipping companies considering cheating on rules starting next year to combat pollution, in order to save a few dollars on their fuel bills: Don’t.
— Straits Times (annoying popups)

Crypto Exchange Binance Is Setting Up Shop in Singapore This Month
Cryptocurrency exchange Binance is launching a new fiat-to-crypto exchange in Singapore later this month.
— Coin Desk

Singapore’s transgender people live in the shadows
A chest binder, packaging from used hormone injections and a preserved penis donated after a sex-change operation – all part of an exhibition designed to showcase Singapore’s rich transgender history.
— Khmer Times

Water supply to Singapore disrupted over ammonia pollution in Johor River
The supply of water to Singapore was disrupted after PUB’s Johor River Waterworks halted treatment operations due to the high levels of ammonia in the river, Singapore’s national water agency said on Thursday (Apr 4).
— CNA (very annoying popups)

Singapore to invest over $6 billion in booming tourism industry
THE skyscraper-filled island city-state of Singapore may be relatively insignificant when it comes to its size as compared to other Southeast Asian destination but it welcomes at least 1.1 million tourist arrivals from both business and leisure travelers monthly.
— Asian Correspondent

S’pore ideal springboard to S-E Asia: Koh Poh Koon
For European companies seeking to make inroads into South-east Asia’s advanced manufacturing industry, Singapore serves as an ideal springboard to the region, Senior Minister of State for Trade and Industry Koh Poh Koon said at an Industry 4.0 forum during the Hannover Messe trade show on Wednesday.
— Straits Times (annoying popups)

Troubling key points of the proposed Fake News law by the Singapore government
The draft of Singapore’s new ‘Fake News’ law is out. The Protection From Online Falsehoods and Manipulation Act (POFMA) was proposed in Parliament on 1 April as a means to combat the spread of false and/or misleading information online – which undoubtedly has become a major issue as the world enters a new level of connectedness via the internet.
— The Online Citizen

SingPost to divest loss-making US subsidiaries amid strategic review
Singapore Post Limited (SingPost) has announced its intentions to sell its controlling stakes in US e-commerce businesses, Jagged Peak and Trade Global, as part of its strategic review.
— The Edge Singapore

Singapore seizes record shipment of pangolin scales
Singaporean authorities made a record seizure of nearly 13 tonnes of pangolin scales worth some $38.7 million, officials said Thursday, calling it the largest such haul globally in recent years.
— The Jakarta Post

Integrated resort expansion to create renewed visitor interest in Singapore, more jobs for local workers: Experts
A revived interest in Singapore among foreign visitors and increased job opportunities for local workers are among the benefits which the S$9 billion expansion by Singapore’s two integrated resorts could bring, said industry experts.
— CNA (very annoying popups)

Analysts mostly bullish on Genting Singapore’s $4.5 bil investment for RWS 2.0 as price plunges to 3-month low on fears
Analysts are generally positive on Genting Singapore (GENS) following the announcement of plans to invest $4.5 billion to renew and refresh Resorts World Sentosa (RWS).
— The Edge Singapore

Where are Singapore noodles from if not from Singapore?
Travellers are always surprised when Singaporeans look confused when asked about Singapore noodles.
— Asia One

Most Singapore millennials want to start investing and buying insurance policies – but they don’t quite know how to, an OCBC study finds
Millennials in Singapore want to try investing and buying insurance policies, but many do not consider themselves knowledgeable in these areas, a study has found.
— Business Insider

SGX queries Y Ventures, Synagie over share spikes
The Singapore Exchange (SGX) yesterday queried two Catalist-listed firms, Synagie Corporation and Y Ventures, citing unusual price movements in their shares, after both counters shot up by about 40 per cent in early morning trading.
— Straits Times (annoying popups)

WP politician asks why Govt is allowing MBS and RWS to expand gambling space when casinos are already “viable”
Former Non-Constituency Member of Parliament (NCMP) Gerald Giam, a member of the Workers’ Party (WP), has asked why the Government is allowing Marina Bay Sands (MBS) and Resorts World Sentosa (RWS) to expand its gambling area, even as the casinos remain commercially viable.
— The Independent

Singapore casino resort to get $3.3 billion expansion
A major casino resort on Singapore’s waterfront is to get a $3.3 billion expansion, including a new tower featuring luxury rooms and a 15,000-seat arena, its owner said.
— France 24

NMP Walter Theseira: Promote and enlighten secularism to protect the public space in the interests of all
On Monday (1 April), 16 Members of Parliament (MPs), including political office holders and Nominated MPs debated Law and Home Affairs Minister K Shanmugam’s ministerial statement on hate speech in Parliament.
— The Online Citizen

Malaysia has asked for more time to decide on Johor Bahru-Singapore RTS Link: MOT
Singapore’s Transport Ministry confirmed on Thursday (Apr 4) that Malaysia has requested for a six-month extension on a deadline to respond to matters related to the Johor Bahru-Singapore Rapid Transit System Link (RTS) project.
— CNA (very annoying popups)

Singapore among world’s top digital economies but ranks worst at meeting psychological needs: Survey
Despite widespread utility of digital services across the globe, a range of basic, self-fulfillment and psychological needs are still failing to be met, suggests a recent survey by Dentsu Aegis Network in partnership with Oxford Economics.
— The Edge Singapore

Record $52m worth of pangolin scales seized in Pasir Panjang
The local authorities seized 12.9 tonnes of pangolin scales worth $52.3 million at Pasir Panjang Export Inspection Station on Wednesday – the world’s largest such shipment bagged in a single haul.
— Straits Times (annoying popups)

Singapore wooing European firms with ‘Disneyland’ of advanced manufacturing
For European companies seeking to make inroads into South-east Asia’s advanced manufacturing industry, Singapore serves as an ideal springboard to the region, Senior Minister of State for Trade and Industry Koh Poh Koon said at an Industry 4.0 forum during the Hannover Messe trade show on Wednesday.
— The Business Times

Singapore offshore firms recover to confront new threats
Singapore’s large offshore and marine industry is showing signs of confidence as sales improve for some companies and acquisitions pick up pace.
— Nikkei Asian Review (paywall)

Singapore IRs bet on S$9b expansion; exclusive licences extended to 2030
SINGAPORE’S two integrated resorts (IRs) are set to invest S$9 billion in expansion, with the exclusivity period for both casinos being extended past the original 2017 expiry date to end-2030 instead.
— The Business Times

Hyflux and SMI clash over what led to death of rescue deal
Hyflux and its former white knight SM Investments (SMI) have clashed over what led to the death of a $530 million restructuring deal.
— Straits Times (annoying popups)

Nearly 13 tonnes of pangolin scales worth S$52 million seized in Singapore
An illegal shipment carrying nearly 13 tonnes of pangolin scales, worth S$52.3 million, was intercepted and seized by Singapore authorities on Wednesday (Apr 3).
— CNA (very annoying popups)

Hyflux terminates restructuring plan with Indonesian investor
Hyflux on Thursday (Apr 4) cancelled a restructuring agreement with the Salim-Medco consortium SM Investments (SMI), saying it has no confidence the Indonesian investor will complete the deal.
— CNA (very annoying popups)

Government will likely rely on technicalities in enforcing the proposed Fake News Bill
Back in July 2015, TOC published a letter written by a ‘concerned Singaporean’ titled “Severe consequences for a PAP majority with its underground city for 10m population”.
— The Online Citizen

New award to honour foreign brands in Singapore
A NEW award category was launched on Tuesday to honour foreign brands that have been growing their presence in Singapore, as part of the Singapore Prestige Brand Awards (SPBA).
— The Business Times

Revaluation gains lift Centurion’s earnings; company continues to expand outside Singapore
Singapore has further tightened its rules on the hiring of foreign workers. Nevertheless, Centurion Corp, which provides workers’ accommodation, believes its business will not be hurt significantly.
— The Edge Singapore

Sakura season Singapore style: NParks just collated an amazing bunch of photos of pink and white cherry blossom lookalikes all over the island
With flowering trees and petal paths, Singapore is experiencing its very own sakura season – well, almost.
— Business Insider

SingPost to sell US e-commerce subsidiaries following strategic review, non-US units unaffected by divestment
Singapore Post (SingPost), which has been in the media spotlight a great deal lately, announced on Wednesday (3 April) that it will sell two of its US e-commerce subsidiaries following a strategic review.
— The Online Citizen

Breathing new life to Singapore: 4th tower added to Marina Bay Sands
Minister for Trade and Industry Chan Chun Sing announced on April 3 (Wednesday) that Singapore’s two Integrated Resorts (IRs) will be investing around S$9 billion “to expand and refresh their non-gaming components” in the country.
— The Independent

Singapore: Position for a widening US-SG spread – ANZ
Analysts at ANZ are expecting the Monetary Authority of Singapore (MAS) to be on hold at the April policy review, continuing its modest and gradual S$NEER appreciation stance.
— FX Street

Genting S’pore shares plunge on news of hike in levies, taxes
Gaming company Genting Singapore saw its shares fall more than 9 per cent at the close of the local bourse yesterday, amid news of a $4.5 billion investment plan for Resorts World Sentosa (RWS) and a 50 per cent increase in casino entry levies for Singaporeans.
— Straits Times (annoying popups)

What’s in Singapore’s New Anti-Fake News Bill?
The measure has put the spotlight on the country’s efforts to counter the growing challenge amid lingering concerns.
— The Diplomat (paywall)

Singaporean who waited at home all day for parcel only to receive unsuccessful delivery notice blasts SingPost
Singapore Post (SingPost) has come under fire yet again, with yet another complaint over poor service by another disgruntled customer.
— The Independent

Genting Singapore shares plunge 10% on price tag for RWS expansion, higher gaming taxes
Shares of Genting Singapore fell to its lowest in more than three months on Thursday (Apr 4) as investors and analysts reacted to a S$4.5 billion expansion plan by Resorts World Sentosa (RWS) and an increase in gambling taxes and casino entry levies.
— CNA (very annoying popups)

 

Feature photo Young Parents

This week’s Singapore morning news feature photo acknowledges World Health Day, April 7.

 

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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