Singapore morning news for February 15

Singapore morning news for February 15

Singapore morning news

Agreement with Singapore set to give a boost to EU-Asia trade
The trade and investment agreements between the EU and Singapore have today received the approval of the European Parliament.
— Fresh Plaza

Mahathir’s return sees Singapore-Malaysia relations navigating choppy waters
Having returned to the Malaysian prime ministership, Mahathir Mohamad is implementing a much-welcomed reform agenda and correcting governance ills introduced during his earlier reign.
— AEC News Today

Singapore retailer targets 100 halal groceries across island in the next year
Singapore’s “halalpreneur” has resurrected his dream of developing a nationwide chain of Islamic compliant food stores after his hopes were dashed last year.
— Food Navigator

ST Engineering and DSO set up JV for satellite analytics and new space technologies
ST Engineering’s electronics arm has signed an agreement with DSO National Laboratories (DSO), Singapore’s national defence research and development (R&D) organisation, to set up a joint venture company.
— The Edge Singapore

Bank of Singapore, Edelweiss team up for Indian wealth
Chinese Banking Corporation’s private bank plans to form a partnership with EdelweissNSE 3.33 % Group that allows wealthy Indians to access the Singapore firm’s investment offerings.
— Economics Times

EU parliament approves EU-Singapore trade deal
The European Parliament has approved a free trade deal with Singapore that the European Union hopes to use as a blueprint for further deals in southeast Asia.
— Business Inquirer

Supply vessel sinks in Singapore waters, crew rescued
Singapore’s Maritime and Port Authority (MPA) said on Thursday that a small supply and personnel vessel with three Indonesian crew members had capsized and sunk in its territorial waters, near where a similar incident occurred a month ago.
— Reuters

Singapore Airlines pilot grounded for allowing flight attendant to sit in his seat
An airline captain in Singapore was suspended from flying temporarily after he allowed a flight attendant to sit in the pilot’s seat and helped her to take a picture, Sin Chew Daily reported.
— Asia One

Allegations made by Brochez are “either false or unsubstantiated with any evidence” – MOH
The Ministry of Health (MOH) has hit out at the allegations made by Mikhy K Farrera Brochez, the foreigner whom the Government has identified as the mastermind of the HIV Registry data leak, who declared his innocence on social media yesterday.
— The Independent

SATS is back on favoured ground
Analysts are keeping a rather positive stance on SATS following its 3Q19 results announcement on Wednesday.
— The Edge Singapore

Budget to focus on helping companies embrace tech, train workers to lift productivity: Heng Swee Keat
The Budget will focus on how companies can increase productivity and stay competitive, said Finance Minister Heng Swee Keat.
— The Straits Times (annoying popups)

EDB expects Singapore to attract S$8b to S$10b in fixed asset investment in 2019
DESPITE slowing global growth, the Republic is expected to attract S$8 billion to S$10 billion in fixed asset investments (FAI) in 2019, in line with previous years, the Singapore Economic Development Board (EDB) said at its year-in-review briefing on Thursday.
— The Business Times

OCBC’s Bank of Singapore and India’s Edelweiss in tie-up
Bank of Singapore, one of Asia’s biggest private banks, is partnering with diversified Indian financial services firm Edelweiss Group to allow clients of both entities to tap into their respective product platforms.
— The Edge Singapore

ST Engineering, DSO set up joint venture in satellite analytics
ST Engineering is setting up a joint venture company with DSO National Laboratories with an eye on unlocking new business opportunities through the latest advancements in satellite technology, the company announced on Thursday (Feb 14).
— The Straits Times (annoying popups)

More volunteer opportunities for seniors under new agreement
One silver lining in rapidly greying Singapore is a growing pool of senior volunteers with a wealth of experiences and skills.
— The Straits Times (annoying popups)

Raffles Infrastructure, the former China Fibretech, reverses out of the red in 2Q
Raffles Infrastructure, formerly known as China Fibretech, reported 2Q earnings of RMB24.5 million ($5 million) compared to a net loss of RMB974,000 a year ago.
— The Edge Singapore

SIA Q3 net profit dips 27%
NATIONAL carrier Singapore Airlines on Thursday posted a 27 per cent drop in net profit for the third quarter to S$284 million from a restated S$389.3 million a year ago on the back of weaker operating profit that was exacerbated by share of losses in the group’s joint ventures, namely NokScoot.
— The Business Times

Budget 2019 to focus on helping companies embrace tech, workers learn new skills: Heng Swee Keat
The upcoming Budget will focus on three areas – companies, workers and technology, said Finance Minister Heng Swee Keat on Thursday (Feb 14). In particular, the Budget will focus on helping companies deepen capabilities so they can stay competitive and productive, he said.
— Channel NewsAsia (very annoying popups)

Dr Tan Cheng Bock: I’m entering Parliament to hold PAP Govt accountable
A recent video of a short speech by Dr Tan Cheng Bock has been circulating on social media. In the video, he had expressed his wish to re-enter parliament because he wants to seek accountability and transparency over the reserves and the Central Provident Fund (CPF) from the government.
— The Online Citizen

How You Can Use Valuations to Time Your Investment Transactions
Valuations play an important role in determining our entry, and ultimately would have an impact on our investment performance.
— The Motley Fool

Malay business community hopes Budget 2019 will help SMEs cope with costs: survey
THE Malay business community is hoping that the upcoming Budget 2019 will provide more help for small- and medium-sized enterprises (SMEs) to cope with costs as well as better access to funding, according to survey findings from the Singapore Malay Chamber of Commerce and Industry (SMCCI).
— The Business Times

More than 1,750 firms have used govt grant to improve jobs for older workers in past 2½ years
A government grant to help companies make jobs physically easier for older workers has seen better-than-expected take-up, and the Manpower Ministry is considering whether to extend it beyond June this year.
— The Straits Times (annoying popups)

Speaker of Parliament agrees with judgment call by MOH not to inform patients and public about HIV data leak
Speaker of Parliament Tan Chuan-Jin said that he agrees with the judgment call by Ministry of Health (MOH) to not inform patients and public about the HIV data leak.
— The Online Citizen

Civmec posts 76.3% drop in 2Q earnings to $1.22 million on lower revenue and higher finance costs
Civmec announced 2Q19 earnings fell 76.3% to A$1.26 million ($1.22 million) compared to A$5.31 million in 2Q18.
— The Edge Singapore

Singapore Airlines Ltd’s Latest Earnings: Fuel Costs Affect Profits Again
Singapore Airlines Ltd see a drop in profits on the back of higher fuel costs
— The Motley Fool

Water and fishing activities suspended at Lower Seletar Reservoir after crocodile spotted
Water and fishing activities have been scaled right back after a crocodile was spotted in the Lower Seletar Reservoir on Thursday morning (Feb 14).
— The Straits Times (annoying popups)

Ascendas-Singbridge partners Mitsui to own & operate two office buildings in Shanghai
Ascendas-Singbridge Group and Mitsui Co have signed an agreement to jointly own and operate two office buildings in Shanghai, Ascendas Innovation Place (AIP) and Ascendas Plaza (AP), through a 55:45 partnership.
— The Edge Singapore

‘Independent’ investor-only meeting being planned by SIAS for Hyflux’s retail investors
Aggrieved mom-and-pop investors of embattled water treatment firm Hyflux will get to attend an “independent” town hall meeting organised by the Securities Investors Association Singapore (SIAS) within the next two weeks.
— Channel NewsAsia (very annoying popups)

SG cab key player overcomes rivals’ pressure, expands operations
As most traditional taxi operators are experiencing a decline in earnings during the ride-sharing era, ComfortDelGro, Singapore’s largest cab company, is doing all its efforts to stay on top of the game with its expanding operations abroad.
— The Independent

Digital Defence to be sixth Total Defence pillar, signalling importance of cyber security
The Republic will introduce Digital Defence as the sixth pillar in its national defence framework Total Defence, signalling the threat cyber attacks and disinformation pose, and the importance of cyber security.
— The Straits Times (annoying popups)

AWARE urges complete closing of gaps in rape law; urges further reform and public education on consent, repeal of Section 377A
Singapore’s leading gender rights organisation, AWARE in a statement, welcomed the moves in the Criminal Law Reform Bill, introduced in Parliament on Monday, that mostly remove marital immunity for rape, and expand existing rape and sexual assault laws – for the former, including non-consensual penetration to the mouth and the anus, and for the latter, including non-consensual penetration perpetrated by women against men.
— The Online Citizen

Raffles Education sinks deeper into the red with $15.2m Q2 loss
Higher depreciation expenses and costs related to the closures of its loss-making colleges in Sydney and Beijing dragged Raffles Education deeper into the red for its second quarter.
— The Straits Times (annoying popups)

SG Cybercrimes: Can David (Koh) battle with Goliath?
Despite Singapore being rated the most advanced digital economy in Asia and after establishing itself as a leading hub for innovation, the country continues to grapple with cyber security threats that have shattered its state-of-the-art digital infrastructure and its status as a ‘smart nation’.
— The Independent

New road map will give furniture retailers a leg up in adopting technology
Furniture retailers are getting more help to integrate technology into their operations.
— The Straits Times (annoying popups)

First Sponsor posts 37% increase in 4Q earnings on hotel ops, higher share of gains of associates and JVs
First Sponsor announced that its 4Q18 earnings have increased by 36.5% to $58.2 million, compared to $42.7 million in 4Q17.
— The Edge Singapore

EDB sees driverless cars, mobility as next growth industry for Singapore in 2019
A self-driving car carrying the Made in Singapore stamp may have been an unlikely export from the city state decades ago, but this is no longer the case.
— The Straits Times (annoying popups)

Will Captain Marvel reverse everything Thanos did? Brie Larson answers in person
Brie Larson, Samuel L Jackson and Gemma Chan, along with directors Anna Boden and Ryan Fleck, are in Singapore to promote the movie as the only stop in Asia.
— Channel News Asia (very annoying popups)

Circles.Life raises Series C; plans to expand into 5 countries including Taiwan and Australia
Local mobile virtual network provider Circles.Life announced Thursday it has closed a Series C round of financing, and unveiled plans to start operations in Taiwan and Australia this year.
— The Edge Singapore


Feature photo USAID Asia

This week’s Singapore morning news feature photo acknowledges International Day of Women and Girls in Science February, 11.


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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