Singapore morning news for February 28

Singapore morning news for February 28

Singapore morning news

Singapore Airlines, Scoot flights affected by closure of Pakistan airspace, Indian airports
Six flights operated by Singapore Airlines (SIA) and its low-cost carrier Scoot were cancelled or rerouted on Wednesday (Feb 27) after heightened Pakistan-India tensions led to the closure of the Pakistan airspace and several Indian airports.
— Channel NewsAsia (very annoying popups)

Criticising the PAP is now “undermining national unity”?
In Parliament yesterday (26 Feb 2019), Member of Parliament and Workers’ Party chief Pritam Singh brought the Merdeka Generation Package (MGP) and its timing into sharp focus on day one of the Budget debate yesterday.
— The Online Citizen

Here’s how Singapore’s organisations can retain their top talent
Fostering human connections is a significant factor in retaining employees who value job security, especially in Singapore.
— The Edge Singapore

Singapore’s Ministry of Trade & Industry Senior Parliamentary Secretary to Provide Keynote Address at ALMU’s Inaugural Annual Meeting
The Asian Lubricant Manufacturers Union (ALMU) is excited to announce that Dr. Tan Wu Meng, Senior Parliamentary Secretary, Singapore Ministry of Foreign Affairs & Ministry of Trade and Industry, is the Guest-of-Honour for the inaugural ALMU Annual Meeting & Global Leadership Summit.
— Business Wire

CapitaLand raises over 70% of US$750m target in first closing of property debt fund
CapitaLand announced the first closing of the group’s first discretionary real estate debt fund, with a target capital raise of U$750 million (S$1.01 billion).
— Straits Times (annoying popups)

What it’s like living as a billionaire in Singapore, where wealthy residents are worth a combined $1 trillion and limited land makes owning a house the ultimate ‘status symbol’
Singapore, an island city-state off of southern Malaysia, consistently tops rankings of the most expensive and wealthiest cities in the world.
— Business Insider

Singapore economy expected to moderate towards a more sustainable pace this year: MAS
The Monetary Authority of Singapore (MAS) expects this year’s economic growth to come in at 2.5 per cent or “a touch lower”, bringing it closer to its potential.
— Straits Times (annoying popups)

Timely to diversify Singapore’s funding sources for major infrastructure
AMID a slowing global economy and trade tensions between the world’s two giant nations that could worsen the slump, the Singapore government’s decision to guard the city state’s reserves and instead borrow to partly fund “lumpy” and long-term infrastructure investments is perfectly timed.
— The Business Times (paywall)

ST Engineering to carry out drone trials over Lower Seletar Reservoir
More sophisticated drone operations may start here with Singapore Technologies (ST) Engineering receiving approval to conduct trials for its drones, which can be used for perimeter security screening and lightweight deliveries.
— Straits Times (annoying popups)

Property developer eyes Penang islands as ‘next Singapore’
With Malaysia’s optimistic vision of transforming Penang’s three islands reclamation project into the ‘next Singapore,’ this could be Marina Bay’s closest rival in terms of better infrastructure and ecological landscape.
— The Independent

Budget 2019 debate: Ong Teng Koon on tackling Singapore’s declining birth rate
MP Ong Teng Koon spoke in Parliament on Wednesday (Feb 27) about the impact that cost of living, economic pressures and income inequality have had on Singapore’s total fertility rate.
— Channel NewsAsia (very annoying popups)

Singapore reaps literary dividend from migrant culture
Of the 30 people who share MD Sharif Uddin’s workers’ barracks in Singapore, only a handful know that he writes. Uddin, who owned a bookshop in Bangladesh, moved to Singapore in 2008 to join the many thousands of his countrymen who come to the city-state to work in the construction sector — paying $10,000 to an agent for the privilege.
— Nikkai Asian Review (paywall)

Thomson Medical returns to profitability in FY18 with earnings of $2.2 mil; announces special dividend
Healthcare services provider Thomson Medical Group (TMG), formerly known as property group Rowsley, has swung out of the red with full-year earnings of $2.2 million in FY18, compared to losses of $22.3 million a year ago.
— The Edge Singapore

Singapore central bank chief says policy ‘appropriate’ but monitoring data
Singapore’s monetary policy stance remains appropriate, the city-state’s central bank’s chief said on Wednesday, in comments that follow a disappointing run of recent economic data.
— Reuters

Strong FDI flows to Singapore and rest of S-E Asia despite US tax reforms
THE big repatriation of foreign earnings by US multinational corporations appears to have no negative impact on Asian economies – especially Singapore and the rest of South-east Asia.
— The Business Times

9 in 10 graduates of Singapore’s top universities hired within 6 months
The average gross monthly salary of those in full-time permanent employment rose to $3,733 from $3,613 in 2017.
— Singapore Business Review

Wealth tax, scrap secondary school streaming: MPs suggest measures to tackle inequality, social stratification
Getting the rich to pay more taxes, giving vulnerable groups better employment opportunities, and slaying the “sacred cow” of streaming in secondary schools.
— Channel NewsAsia (very annoying popups)

Singapore outbound travel to US gains traction
Thanks to an increase in direct flight connections and destination awareness, the US is gaining traction among Singaporean travellers, reported travel agents here.
— TTG Asia

Haze, burning smell in Singapore expected if Johor fires continue; second hot spot detected: NEA
A fire in southern Johor, which was the likely cause of the burning smell reported by Singaporeans earlier this week, has been put out, said the NEA.
— Straits Times (annoying popups)

Singapore’s Ministry of Trade & Industry Senior Parliamentary Secretary to Provide Keynote Address at ALMU’s Inaugural Annual Meeting
The Asian Lubricant Manufacturers Union (ALMU) is excited to announce that Dr. Tan Wu Meng, Senior Parliamentary Secretary, Singapore Ministry of Foreign Affairs & Ministry of Trade and Industry, is the Guest-of-Honour for the inaugural ALMU Annual Meeting & Global Leadership Summit.
— Business Wire

Budget debates in Parliament opens with focus on employment
Tuesday, February 26, was the first day of Budget debates in Parliament. A common thread that Members of Parliament (MP) discussed is work, along with the welfare of workers, with many MPs urging for greater support for the country’s workers.
— The Independent

SIA flights to London, Frankfurt re-routed to avoid Pakistan airspace
At least three Singapore Airlines (SIA) flights on Wednesday (Feb 27) – two to London and one to Frankfurt, Germany – had to stop halfway for refuelling after the airline re-routed flights to Europe to avoid Pakistan airspace.
— Straits Times (annoying popups)

Sea investors, stick to your (accounting) principles
Net-off revenues, employee share compensation, fair value of convertible notes, deferred revenues.
— The Edge Singapore

Commentary: Beyond loans and grants, Singapore entrepreneurs should seek out equity investments to grow their companies
The venture capital world pays close attention to which start-ups get investments from the who’s who of the investment world, says NUS Enterprise’s Jonathan Chang.
— Channel NewsAsia (very annoying popups)

Libel case: Leong Sze Hian has large following, falsehoods had ‘potential to cause serious harm’, says PM Lee
Alfred Chua 7 hours 57 min ago SINGAPORE — Blogger Leong Sze Hian “had a widespread following” on Facebook, which me
— Today Online

Overworked Malaysian, drops dead outside his door just before daily commute from JB to Singapore
A Malaysian, who braved the horrendous traffic between Johor Bahru and Singapore daily to earn just S$1,000, tragically died at his doorstep after suffering a fatal heart attack. The incident occurred on Saturday (23 Feb) morning, according to Malaysian publication, China Press. Chua Beng Thong, …
— The Independent

Singapore economy expected to moderate towards a more sustainable pace this year: MAS
The Monetary Authority of Singapore (MAS) expects this year’s economic growth to come in at 2.5 per cent or a touch lower, bringing it closer to its potential.
— Straits Times (annoying popups)

Growth in Singapore services sector revenue eases to 4.1% in Q4
SINGAPORE’S services industries saw more takings in the last quarter of 2018, although growth was slower than before, according to data from the Department of Statistics (SingStat) on Wednesday.
— The Business Times

S’pore’s higher education system top in Asia; NUS Civil and Structural Engineering world’s 2nd best
Low Youjin 10 hours 19 min ago SINGAPORE — The National University of Singapore’s (NUS) Civil & Structural Engin
— Today Online

E-scooter rider fined for negligent riding and hurting pedestrian, who suffered head injuries
A cabby could not brake in time while riding his electric scooter in Bishan Park 1 and slammed into a pedestrian who suffered head injuries.
— Straits Times (annoying popups)

HRnetgroup out to nab China’s workaholic job seekers
In some quarters, a lack of work-life balance is not always a bad thing.
— The Edge Singapore

Chee Hong Tat to Workers’ Party: Don’t politicise Merdeka generation package with general election
In response to Workers’ Party (WP) leader Pritam Singh’s speech in Parliament on Tuesday, February 26, Senior Minister of State for Trade and Industry and Education Chee Hong Tat said that it is “misleading” to connect the newly-announced Merdeka Generation Package, as well as the Pioneer Generation Package with the general election.
— The Independent

Singapore monetary policy ‘appropriate’ but monitoring data: MAS chief Ravi Menon
Singapore’s monetary policy stance remains appropriate, the Monetary Authority of Singapore’s (MAS) chief said on Wednesday (Feb 27), in comments that follow a disappointing run of recent economic data.
— Straits Times (annoying popups)

Investing On Your Own Means You Never Have To Retire
Retirement may sound like a scary word to some, but not to an investor as this is a lifelong activity which can be done at any age.
— The Motley Fool

Singapore Airlines investigating after passenger finds tooth in plane meal
Singapore Airlines on Wednesday (Feb 27) said it is investigating after a passenger on one of its flights said he found a human tooth in his in-flight meal.
— Channel NewsAsia (very annoying popups)

Transport Minister Khaw Boon Wan to undergo surgery after fracturing arm at home
Apparently he had been a little excited in getting out of bed.
— Mothership

100 community events and projects to be rolled out in Singapore to mark Bicentennial
The Nagore Dargah Indian Muslim Heritage Centre, which has almost two centuries of history, is curating a photo exhibition which matches photographs of 100 Singaporeans with their ancestors.
— Straits Times (annoying popups)

Thomson Medical Group returns to profit; new initiatives to drive growth
Mainboard-listed Thomson Medical Group said on Wednesday (Feb 27) that it returned to profit in 2018, and unveiled a series of plans to drive growth through an integrated service platform at Orchard Road and its first major digital foray.
— Channel NewsAsia (very annoying popups)

National Cancer Centre Singapore teams up with Singapore Cancer Society to make genetic screening more accessible
The National Cancer Centre Singapore (NCCS) and the Singapore Cancer Society (SCS) have announced a partnership that aims to make cancer detection, prevention and treatment more accessible to patients who require financial aid.
— Straits Times (annoying popups)

New politician on the block gets swarmed by IBs on CPF post
Brad Bowyer, a member of the People’s Voice Party took his Facebook account on Tuesday (26 February) to question why Singapore’s Central Provident Fund (CPF) is giving lesser returns to retirees compared to other countries whose funds are much smaller than Singapore’s.
— The Online Citizen

Singaporean parents are not using child car seats, despite owning them
According to the Singapore Medical Journal, securing children in appropriate child car seats can reduce the risk of serious traffic accidents by 8.4 times.
— The Online Citizen

Bombardier investing S$85m to quadruple size of Singapore aircraft maintenance centre
AEROSPACE giant Bombardier is putting in S$85 million to quadruple the size of its Singapore service centre to 40,000 square metres by 2020, making it the largest business aviation maintenance facility in Asia owned by an original equipment manufacturer.
— The Business Times

Record number of contraband cases detected at checkpoints in 2018
There were 107,771 contraband cases detected at Singapore’s checkpoints last year, a 19 per cent climb from 90,327 the year before.
— Straits Times (annoying popups)

CPF names Manpower Ministry’s Augustin Lee as new CEO
Mr Augustin Lee, current Deputy Secretary of the Ministry of Manpower (MOM), will succeed Mr Ng Chee Peng as the new chief executive officer of the Central Provident Fund (CPF) Board.
— Channel NewsAsia (very annoying popups)

Crown Prince of Abu Dhabi to make official visit to Singapore on Thursday
The Crown Prince of Abu Dhabi, Sheikh Mohamed Bin Zayed Al Nahyan,will be making an official visit to Singapore on Thursday (Feb 28), at the invitation of President Halimah Yacob.
— Straits Times (annoying popups)

Sheng Siong kept at ‘buy’ for defensive stance in supermarket space
Sheng Siong is a “buy” for most research houses. Sheng Siong on Monday announced that its FY18 earnings increased by 1.4% y-o-y to $70.8 million, on the back of a 7.4% increase in FY18 revenue to $890.0 million
— The Edge Singapore

ST Book Club: Dr William Wan on ageing gracefully and dying well
When he turned 61 a decade ago, Dr William Wan made a bucket list of things to do before he dies.
— Straits Times (annoying popups)

Elderly Singaporean works an entire day to collect 300kgs of cardboard, only to earn $30
The plight of an elderly Singaporean, who manages to earn just $30 after toiling hard to collect 300 kilograms of cardboard over the course of an entire day, was recently shared on social media by Facebook user Kilmar Wong.
— The Independent

Singapore fintech start-up Rely raises seven-figure pre-series A funding
Singapore fintech, Rely, has raised a seven-figure pre-series A funding led by commercial financier Goldbell Financial Services. Other investors include Singapore-based family office Octava and investors from the financial and technology sector.
— Straits Times (annoying popups)

 

Feature photo Be Positive

This week’s Singapore morning news feature photo acknowledges Zero Discrimination Day, March 1

 

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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