Singapore morning news for February 8

S’pore public hammering SingPost pays off as it announces ways to improve service standards
SingPost is accepting the S$100,000 financial penalty imposed on it by the Infocomm Media and Development Authority (IMDA) for failing to meet service standards on delivery in 2017.
— Mothership

Singapore: economic renewal, but old-age security & inequality unaddressed
Singapore reported a credible economic performance in 2018 amid an increasingly uncertain global environment, exemplified by the US–China trade war.
— AEC News Today

Opposition politician and former presidential candidate both agree that Malaysia’s healthcare system trumps Singapore’s
Following the news that Malaysia ranks top for its healthcare system, opposition politician Lim Tean and former presidential candidate Tan Kin Lian took to social media to very publicly concur.
— The Independent

HDB home buyers can soon book unsold balance flats at any time
Those looking to buy an unsold balance flat from the Housing and Development Board (HDB) can soon do so at any time instead of waiting for a twice-yearly sales exercise, said National Development Minister Lawrence Wong on Thursday (Feb 7).
— Channel NewsAsia (very annoying popups)

Local telco incumbents ‘clearly have an edge’ over new entrant at this juncture, says Maybank
Maybank Kim Eng is keeping “neutral” on Singapore’s telco sector on the belief that incumbent telcos have an edge in terms of subscriber in retention amid a “proliferation of new MVNOs (mobile virtual network operators)” as well as new mobile network operator TPG Telecom.
— The Edge Singapore

Singapore’s electric vehicle ambitions receive boost as Dyson enters fray
The British manufacturer is aiming to roll out an EV model by 2021.
— Singapore Business Review

Singapore ranks 10th on global IP Index
SINGAPORE was ranked 10th out of 50 world economies on the latest edition of the US Chamber International Intellectual Property (IP) Index, as it slipped a place and was displaced by Switzerland.
— The Business Times

STI gets a boost as sentiment improves
Investors came back from the Chinese New Year holidays in a positive mood that helped nudge the local market north yesterday.
— The Straits Times (annoying popups)

Procurri up 6.5% after saying it received second unsolicited expression of interest to acquire company
Shares in Procurri Corporation, the Mainboard-listed enterprise hardware supplier, are up 2 cents or 6.2%.
— The Edge Singapore

Shorter wait for home buyers to book HDB flat under new sales exercise
Eager home buyers can soon book a Housing Board flat by the next working day after applying.
— The Straits Times (annoying popups)

Sino Grandness to service $28.7 mil debt using dividends from China
Sino Grandness Food Industry Group says it is currently preparing to repatriate funds back from China, by way of dividend, amid ongoing negotiations with Soleado Holdings to extend the repayment of $28.7 million owed.
— The Edge Singapore

Prudential to develop AI and machine-learning solutions for customers here
Insurer Prudential is teaming up with three technology companies to develop financial and healthcare solutions as it steps up its innovation drive.
— The Straits Times (annoying popups)

What Makes Singapore APAC’s Premier Tech City
Thriving business environment, flourishing tech environment and an effective talent pool have made Singapore the premier tech city among its Asia-Pacific (APAC) peers.
— The Entrepreneur

Singapore gains a point in free and independent media rating because of alternative news sources
Singapore’s free and independent media rating has gone up by one point in the past year. This was indicated in a report from United States’ NGO Freedom House, which publishes a report measuring civil liberties and political rights across the world every year.
— The Independent

The Straits Times moves back to revamped, multimedia newsroom
The Straits Times has returned home to its revamped newsroom, which has been transformed to enable its journalists to meet readers’ changing needs.
— The Straits Times (annoying popups)

Singapore wins top central bank award; Flug is governor of year
The Monetary Authority of Singapore was named central bank of the year for its strong track record of stability and push to develop the city state into a financial technology hub.
— The Edge Markets

Procurri gets second unsolicited expression of interest for possible voluntary general offer
Enterprise hardware supplier Procurri Corporation on Thursday (Feb 7) said that it had on Feb 4, 2019, received a second unsolicited, non-binding expression of interest from a third party to acquire the company through a possible voluntary general offer.
— The Straits Times (annoying popups)

7 arrested in Malaysia in connection with kidnapped Singaporean businessman
Authorities in Gelang Patah in southern Johor, Malaysia, have arrested seven men reportedly connected with the kidnapping of a vegetable trader from Singapore.
— The Independent

Should Investors Be Concerned If A Company Cuts Its Dividend?
There is no easy answer to this question, and we will look at some examples in order to ascertain this.
— The Motley Fool

GrabFood delivery personnel gives cancelled order to homeless man, a promising initiative
Cancelling an order via an online booking may be as simple as clicking a button but for some finding a meal to avoid blacking out from hunger could take hours.
— The Independent

Most rise on trade deal hopes, Singapore leads
Most Southeast Asian stock markets firmed on Thursday, led by Singapore, as news of further talks between Beijing and Washington bolstered hopes of a trade deal being struck before the March 2 deadline.
— The Edge Markets

French teacher from MOE Language Centre arrested in Bangkok for sex with minors
A Frenchman whom the Ministry of Education (MOE) has confirmed teaches at its Language Centre in Singapore has been arrested in Bangkok for allegedly having sex with children.
— The Straits Times (annoying popups)

Singapore ranks 10th in global cybersecurity: study
The study revealed that Singapore is the best prepared country for cyberattacks.
— Singapore Business Review

Inside the 300-foot 1MDB superyacht priced at $176 mil
It boasts a gym, pool, gallery, beauty salon and helipad — not to mention space for sleeping 22 guests — and it’s up for sale at around half its purchase price.
— The Edge Singapore

QBE appoints Jason Hammond Singapore-based CEO for Asia operations
Business insurance provider QBE has appointed Jason Hammond as chief executive officer (CEO) for its Asia operations, which includes markets such as Singapore, Malaysia, Vietnam, China, Macau and Hong Kong.
— The Straits Times (annoying popups)

Probation for foreign student who fought NEA officers over smoking in Geylang gaming shop
He was smoking in a Geylang local area network (LAN) gaming shop on Jun 20, 2017 when he spotted National Environment Agency (NEA) officers approaching him.
— Channel NewsAsia (very annoying popups)

DBS expected to deliver promising 4Q results despite headwinds: UOB
DBS will be announcing its 4Q18 and FY18 earning on Feb 18.
— The Edge Singapore

Sino Grandness still negotiating to extend repayment of loan from shareholder
Chinese canned vegetable and fruits producer Sino Grandness Food Industry Group said it is still in negotiation with creditor and shareholder Soleado Holdings to extend the repayment of some US$22 million.
— The Straits Times (annoying popups)

OCBC keeps ‘overweight’ on Singapore hospitality sector as REITs rally
OCBC Investment Research is maintaining “overweight” on Singapore’s hospitality space as the sector’s REITs – namely CDL Hospitality Trusts (CDL HT), Ascott Residence Trust (ART) and Far East Hospitality Trust (FEHT) – rally into the new year with total returns of +5.7%, +2.5% and +6.5%, respectively.
— The Edge Singapore

ICA officers find 1,169 packets of chewing tobacco on motorcyclist at Woodlands Checkpoint
A 50-year-old Malaysian man was caught with 1,169 packets of chewing tobacco at Woodlands Checkpoint on Thursday (Feb 7).
— The Straits Times (annoying popups)

Singapore now Asia’s World City as Hong Kong’s liveability declines
Not too long ago, Norman Pearlstine wrote that, “Innovation and imagination now seem to be Singapore’s bywords.” This year, Singapore now ranks number one as the most liveable location for Asian expatriates according to the ECA International survey while Hong Kong has fallen out of the top 40.
— The Independent

Ezion cut to ‘hold’ by DBS on potential asset impairments and slower recovery
DBS Group Research is downgrading Ezion Holdings, the provider of service rigs and offshore logistics support services, to “hold” with lower target price of 6 cents.
— The Edge Singapore

Feature photo CEphoto, Uwe Aranas

This week’s Singapore morning news feature photo acknowledges Chinese New Year, 2019.

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.

Singapore morning news for February 8 added by Piseth Pov on February 8, 2019
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Piseth Pov

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.