Singapore morning news for February 20

Singapore morning news for February 20

Singapore morning newsSingapore names newest warship RSS Invincible (video)
Dr Ivy Ng, chief executive of SingHealth and the wife of Singapore Defence Minister Dr Ng Eng Hen, has named the city-state’s newest warship, a S$800 million (about US$589 mln) German built submarine, the RSS Invincible at a ceremony in Kiel, Germany.
— AEC News Today

Services sector to face ‘challenge’ of tighter foreign worker quota, but adapting firms will benefit
It will be a “challenge” for companies in the services sector to cope with the upcoming tightening of supply to foreign workers, but forward-looking companies will likely fare better, industry watchers said.
— Channel NewsAsia (very annoying popups)

Top-ups for students, GST Vouchers part of S$1.1b Bicentennial Bonus
About 1.4 million lower-income Singaporeans will receive up to S$300 in GST Vouchers at the end of this year, as part of the S$1.1 billion Bicentennial Bonus announced by Finance Minister Heng Swee Keat on Monday (Feb 18).
— Today Online

Building a stronger, more united Singapore
BUDGET 2019 seeks to strengthen Singapore’s positioning as we move into a different phase of globalisation.
— The Business Times

NTU signs MOU with University of California to expand collaboration in research and exchange
The Nanyang Technological University (NTU) will partner with the University of California (UC) system to expand collaboration between the two institutions.
— The Straits Times (annoying popups)

Major upgrade for the security industry
The security industry in Singapore is undergoing fundamental changes.
— The Straits Times (paywall)

DBS undergoes target price cuts after a record FY18, but remains a ‘buy’
Jefferies Singapore, OCBC Investment Research and RHB Research are maintaining their “buy” calls on DBS Group while lowering their price targets to $28.50, $29.31 and $28.80, respectively.
— The Edge Singapore

Singapore, Malaysia met in December for water talks but discussions ‘overshadowed by new issues’: MFA
The Attorneys-General of Singapore and Malaysia met in December last year for water talks, but the discussions were “overshadowed” by new maritime and airspace issues, said a spokesperson from Singapore’s Ministry of Foreign Affairs (MFA) on Tuesday (Feb 19).
— Channel NewsAsia (very annoying popups)

Singapore pours cold water on water talks
Discussions between Singapore and Malaysia to review their water agreement have been “overshadowed” by issues of territorial waters and airspace, the Singaporean government said today.
— Yahoo News Singapore

Singapore’s Salad that makes you rich
Singapore may be known for glittering skyscrapers, glossy designer shops and hosting power meetings with international leaders, but the island nation’s success could be due to another tour de force altogether.
— BBC News

Firms reveal Singapore growth strategies
Consolidation has been a huge trend across every financial centre since the financial crisis. Stricter regulations and rising costs have made business owners reassess their strategies, with many opting to sell up.
— International Advisor

NEA says Singaporeans are wasting food on a colossal scale
The National Environment Agency (NEA) recently cited that food wastage in Singapore is one of the growing concerns in the country.
— The Independent

Singaporean men make good husbands, say Japanese women. Here’s why
Singaporean men are kind, gentle, and treat women equally, and that makes them husband material, according to some Japanese ladies here.
— Asia One

Tightened GST relief, smaller duty-free alcohol allowances: 8 things to know before making purchases abroad
In Finance Minister Heng Swee Keat’s Budget 2019 statement, he announced that the goods and services tax (GST) import relief will be tightened for travellers returning to Singapore from Tuesday (Feb 19).
— The Straits Times (annoying popups)

Ikan datang: Singapore-developed breed of sea bass to make a splash
A premium breed of sea bass could soon make its way to the table at homes and in eateries with the help of local aquaculture start-up Allegro Aqua.
— Today Online

Boustead Projects unit awarded $70 mil contract for high-tech manufacturing facility
Boustead Projects, the specialist in real estate solutions, says its wholly-owned design-and-build subsidiary, Boustead Projects E&C, has won a contract worth over $70 million.
— The Edge Singapore

Review property cooling measures to avoid ‘land grab’ situation: REDAS
The Real Estate Developers’ Association of Singapore (REDAS) is seeking a reprieve on the Additional Buyer’s Stamp Duty (ABSD) rates to avoid the “land grab” situation in the last two years.
— Channel NewsAsia (very annoying popups)

Like a ‘small but quick-witted mousedeer’, Singapore can make its way in the world
Delivering his first Budget speech since he was earmarked to succeed Prime Minister Lee Hsien Loong, Finance Minister Heng Swee Keat on Monday (Feb 18) reflected on Singapore’s 700-year history and, at the same time, sought to provide assurance to Singaporeans and prepare them for a future of “faster and deeper” changes.
— Today Online

Govt chooses potential election year to cut foreign worker quota to 35%
Finance Minister Heng Swee Keat delivered his budget speech today and announced that the Government will significantly reduce the foreign worker quota and S Pass worker ratio for the services sector.
— The Independent

Tightened GST relief, smaller duty-free alcohol allowances: 8 things to know before making purchases abroad
In Finance Minister Heng Swee Keat’s Budget 2019 statement, he announced that the goods and services tax (GST) import relief will be tightened for travellers returning to Singapore from Tuesday (Feb 19).
— The Straits Times (annoying popups)

Diesel tax doubled to 20 cents a litre, Government to cushion impact
In the second round of diesel tax restructure to discourage diesel consumption, excise duty for diesel here will be doubled with immediate effect from 10 cents to 20 cents a litre, Finance Minister Heng Swee Keat said on Monday (Feb 18).
— Today Online

Space tech start-up Transcelestial lasers in on high-speed connectivity
A few months ago, inside a second-storey shophouse in Chinatown, Rohit Jha and his team fired up a PlayStation 4 set. ­Using its controllers, he virtually navigated a small toy car, manoeuvring through a track on a remote rooftop of one of the buildings in Chinatown.
— The Edge Singapore

S’pore buys 4 new submarines, the first is ready for use
The Republic of Singapore Navy (RSN) has received its first of four new submarines from Germany.
— Mothership

Underage Maids Are Still Being Trafficked in Singapore
Official figures are unknown, but activists against child labor see new cases every year.
— The Diplomat (paywall)

Train at Dhoby Ghaut MRT station evacuated after passenger’s mobile phone started smoking
A train at Dhoby Ghaut MRT station was evacuated on Tuesday evening (Feb 19), after smoke was spotted coming out of a passenger’s mobile phone.
— The Straits Times (annoying popups)

Foreign worker quota in services sector to be cut gradually to 35% by 2021
The Government will be reducing the foreign worker quota for the services sector over the next two years in an effort to push companies to double down on restructuring and raise their productivity.
— Today Online

Cameras on inflight entertainment systems have been ‘permanently disabled’: Singapore Airlines
National carrier Singapore Airlines (SIA) on Tuesday (Feb 19) reassured passengers that cameras embedded in some of its inflight entertainment systems have been “permanently disabled” and that the airline has no plans to use them.
— Channel NewsAsia (very annoying popups)

Ensuring a Sustainable Environment for All
One of the key points covered by Finance Minister Heng Swee Keat on Monday (February 18) during the Budget 2019 statement was about ensuring a sustainable environment for all.
— The Independent

Natural Cool makes foray into F&B industry with million-dollar acquisition
Natural Cool Holdings, the air-conditioning and switchgear specialist, is venturing into the food and beverage (F&B) industry by acquiring the business and assets of Yummy YM and SFB Global for $0.98 million.
— The Edge Singapore

Total infrastructure bill to rise as S’pore fights climate change and rising sea levels
The Government will be investing more “to protect Singapore against climate change and rising sea levels”, Finance Minister Heng Swee Keat said, stressing the urgency for Singapore to plan for climate change beyond the next decade.
— Today Online

Developing its own aquaculture will make S’pore more resilient
Food production sectors continue to transform and evolve in the digital age. This is one of the key points in Finance Minister Heng Swee Keat’s 2019 Budget Hearing.
— The Independent

Government will help businesses transform, reduce reliance on foreign manpower: Indranee Rajah
It is not possible to continuously be relying on foreign labour in increasing numbers, said Second Minister for Finance and Education Indranee Rajah on Tuesday (Feb 19), adding that the Government will help businesses transform and innovate in line with this.
— Channel NewsAsia (very annoying popups)

S’pore sky split into two distinct shades on Feb. 13 evening, explained
Some Singaporeans noticed a strange phenomenon in the sky on Wednesday evening, Feb. 13.
— Mothership

Healthcare and property stocks are Budget 2019 winners
The recent Budget 2019 has little to no impact on the Straits Times Index (STI) component stocks, apart from ST Engineering which has a low index weight, according to DBS in a Tuesday report.
— The Edge Singapore

Key takeaways from Budget speech
Finance Minister Heng Swee Keat’s fourth Budget statement was a wide-ranging one, with a focus on building a united nation in the face of global changes.
— The Straits Times (annoying popups)

Singapore set to post S$2.1 billion budget surplus for FY2018
Singapore is expected to have a S$2.1 billion budget surplus in the financial year (FY) 2018, which ends March 31.
— Today Online

Biggest supermoon of 2019 lights up Singapore sky
Moongazers in Singapore can expect a visual spectacle on Tuesday night (Feb 19) as a supermoon lights up the skies.
— Channel NewsAsia (very annoying popups)

Govt to invest more to protect S’pore against climate change & rising sea levels
Minister of Finance, Heng Swee Keat announced in his Budget 2019 speech that the government will plan to invest more for Singapore to adapt to climate change.
— Mothership

Streaming of students has pitfalls as well as benefits: Ong Ye Kung
Sorting students by their ability has led to better educational outcomes, but Education Minister Ong Ye Kung acknowledged that streaming may come at the expense of students in the Normal streams losing confidence.
— The Straits Times (annoying popups)

Is #SGBudget2019 an election budget?
Rumors of a General Election being called as early as this year have been circulating, especially after last November, when Finance Minister Heng Swee Keat was chosen as the People’s Action Party’s (PAP) first assistant secretary-general.
— The Independent

Defence, healthcare, bank stocks likely winners, say analysts
Defence, healthcare and grocery stocks are the possible winners from the latest Singapore Budget announced on Monday, according to a number of broking analysts on Tuesday (Feb 19).
— The Straits Times (annoying popups)

Singapore must embrace digital age to boost SMEs’, says communications minister
To increase the impact and contribute positively to Singapore’s overall growth, it is critical that small and medium-sized enterprises (SMEs) adopt digital technology.
— The Independent

Defensive utility stocks could ride infrastructure boom
Utility companies, which are usually deemed to be boring defensive stocks, could turn out to be sexy growth counters.
— The Edge Singapore

19-year-old S’porean shares difficulties she faced on holiday in Japan
It is widely acknowledged that Japan is one of the more accessible countries for solo and/ or beginner travellers.
— Mothership


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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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