Singapore morning news for January 22

Singaporeans’ inflation expectations stand pat at end-2018: poll
SINGAPOREANS don’t expect overall consumer costs to budge much in the next 12 months, but think that core inflation – that is, price hikes outside of housing and private transport – could still inch up.
— The Business Times

Banks tighten credit to bunker industry amid fraud and other risks
THE credit-starved bunker sector is feeling the screws tightening further as banks cut their exposure to what they fear is a high risk industry, including instances of fraud.
— The Business Times

Singapore politics heats up with speculation over early election
Politics is heating up here now that a former presidential candidate has announced the formation of a political party to challenge the ruling party’s dominance, igniting speculation about an early general election that could take place this year.
— Nikkei Asian Review (paywall)

Singapore tops Asia-Pacific in talent competitiveness
FOR the sixth straight year, Singapore ranked first in the Asia-Pacific and second worldwide for attracting and developing talent, in the annual Global Talent Competitiveness Index released on Monday.
— The Business Times

Asean CEOs’ business outlook dimmer than global peers’
CHIEF executive officers (CEOs) across Asean are harbouring greater pessimism than their global peers, in a stark turnaround from previous years, when they were more optimistic.
— The Business Times

Aloysius Pang sustained chest, abdominal injuries during SAF training exercise: MINDEF
SINGAPORE: Singapore actor Aloysius Pang sustained injuries to his chest and abdominal areas while carrying out repair works inside a Singapore Self-Propelled Howitzer at Waiouru Training Area in New Zealand.The Ministry of Defence (MINDEF) revealed this on Monday (Jan 21), adding that the 28 …
— Channel NewsAsia (very annoying popups)

Singapore firm’s new product may help diabetics avoid sugar spike from food
January 22, 2019 5:00 AMA home-grown company has created a product that adds fibre to food and may lower the glycaemic index (GI) of high carbohydrate meals, preventing them from causing the sudden spike in blood sugar levels that is so damaging to people with diabetes.
— The Straits Times

Seven years’ jail for former warehouse supervisor who made off with over S$2m of nickel cathode plates
Over half a year, a warehouse supervisor stole more than S$2 million worth of nickel cathode plates from his workplace to sell.
— Today Online

Poll: Singaporeans expect overall consumer prices to stay flat
Singaporeans do not expect overall consumer prices to budge much in the next 12 months, but think that core inflation – which excludes housing and private transport costs – could still inch up.
— The Straits Times

Passengers forced to disembark after train stalls along Bukit Panjang LRT line
A disruption along the Bukit Panjang LRT line on Monday (Jan 21) night forced passengers to disembark from the train they were on and walk along the track to Fajar station. The train had stalled between Fajar and Bangkit stations, about 100m away from the former. According to SMRT …
— Channel NewsAsia (very annoying popups)

Food-tech lab innovating with lower GI rice and bread to tackle diabetes
A food-tech laboratory focusing on creating lower glycemic index (GI) food staples, such as rice and bread, was launched on Monday (Jan 21), with the aim of incorporating new ingredient blends into everyday foods.Opened by local start-up Alchemy Foodtech, the lab aims to develop its …
— Channel NewsAsia (very annoying popups)

40 people arrested in 2018 for misusing boarding passes at Changi Airport
A total of 40 people were arrested last year for misusing their boarding passes at Changi Airport, the police said on Monday (Jan 21).The police advisory added that a 38-year-old woman was arrested earlier this month for misusing her boarding pass at the transit area of Changi Airport …
— Channel NewsAsia (very annoying popups)

Be warned: Singapore is heating up twice as fast as the rest of the world
DO you feel extra-hot the past few weeks? And are you aware that Singapore is heating up twice as fast as the rest of the world. More seriously, extreme heat, combined with the island’s high humidity, could be life-threatening, say the authorities. Sunny as Singapore can be, nicely set in the sea, but this can […]
— The Independent

Singapore is now a world-class maritime powerhouse
Singapore’s cooperative undertaking with Japan’s biggest ocean carrier, Ocean Network Express (ONE), makes the tiny state a maritime powerhouse in the realm of global shipping. The joint venture aims to operate four mega container berths in Singapore, making the country a major seaport for ONE’s services. The said arrangement was the decisive component of the […]
— The Independent

Johor task force proposes single government agency to manage Causeway congestion
A Johor state task force looking into the Causeway congestion issue has proposed setting up a single government agency to manage the operations at the checkpoint.This was among the list of 11 recommendations from the task force headed by Stulang assemblyman Andrew Chen.According to …
— Channel NewsAsia (very annoying popups)

Commentary: Was Singapore’s announcement to buy a small number of F-35s too slow, too tentative?
Buying a small number allows the Republic of Air Force to understand how best to integrate the Joint Strike Fighter’s game-changing capabilities into its existing doctrine and systems, says Mike Yeo.
— Channel NewsAsia (very annoying popups)

Ageing Singapore: Country helps firms retain workers past retirement age
Mohsin Khan is still at his job repairing aircraft hydraulics parts although the Singaporean turns 75 in a couple of months.
— Today Online

SMEs need help in enterprise and tech road-mapping: SBF
THE Singapore Business Federation wants the government to help small and medium enterprises to grow their revenues and maintain market share via enterprise and technology road-mapping.
— The Business Times

Alchemy raises S$2.5m in pre-Series A funding, sets up foodtech lab
LOCAL startup Alchemy Foodtech has raised S$2.5 million in its pre-Series A round, co-led by Heritas Capital Management and SEEDS Capital, the venture arm of Enterprise Singapore.
— The Business Times

Taking fintech full throttle into the deployment phase
SINGAPORE’S financial services ecosystem has kept pace with global changes, allowing the country to compete against other financial centres. The advent of new technologies – artificial intelligence (AI), blockchain and digital payments among others – has also dramatically transformed the financial services landscape, a key element of a smart nation.
— The Business Times

Singapore top again in Asia-Pacific on global talent index
Singapore has topped the Global Talent Competitiveness Index in Asia-Pacific for the sixth straight year, coming in second in the global rankings behind Switzerland and ahead of the United States, which was third.
— The Straits Times

Man charged with failing to report for NS
A 25-year-old man was charged in court yesterday after he allegedly failed to report for enlistment into full-time national service (NS) for more than three years.
— The Straits Times

SP Group, ASB link up on electric vehicle charging network
Energy provider SP Group has partnered with Ascendas-Singbridge Group (ASB) to install electric vehicle charging points in the latter’s buildings, the two companies announced yesterday.
— The Straits Times

Woman employee who stole nearly $340,000 jailed for CBT
An administrative executive at a property management firm misappropriated nearly $340,000 over three years from season parking fees and payments from tenants such as rentals and utilities.
— The Straits Times

National study on emotional resilience, mental health of youths to begin in April
In April, the National University of Singapore (NUS) will embark on the first national study that aims to estimate the prevalence of mental health conditions in youths aged 10 to 18, as well as gauge their emotional resilience.
— Today Online

About 70 Pines club members to sue Exklusiv Resorts
DISGRUNTLED members of The Pines club are edging towards a face-off in court with motoring tycoon Peter Kwee, as nearly 70 of them – and counting – have come together to sue Mr Kwee’s company, which owned and managed the now-defunct club.
— The Business Times

Some gem dealers yet to take a shine to proposed rules against unlawful transactions
January 22, 2019 5:00 AMSeveral jewellery retailers are having a hard time seeing how they play a part in tackling money laundering and terrorism financing with the stricter measures.
— The Straits Times

Jail for unhappy investor who rigged share price
Over the span of a week in 2015, a stock investor manipulated the share price of mainboard-listed dye maker China Fibretech, causing the price of the counter to plunge from $1.60 to as low as 54 cents.
— The Straits Times

Supervisor jailed over theft of $2m in goods
In just six months, warehouse supervisor Ismawi Ismail, who worked for C. Steinweg Warehousing, misappropriated nearly 130 tonnes of nickel cathode plates worth more than $2 million stored at the Jurong Port Road warehouse.
— The Straits Times

Chinatown goes big, bold and beautiful for Chinese New Year
Members of the Song and Dance Theatre of Guangxi captivating the crowds with their choreography and bright red costumes at the official opening ceremony and street light-up that kicked off this year’s Chinatown Chinese New Year Celebrations on Sunday. Backstage, a fellow performer practised spinning multiple hula hoops before her item.
— The Straits Times

Helping financial sector to be more sustainable
Financial institutions, non-governmental organisations and academics will work together under a new initiative to help businesses be more sustainable.
— The Straits Times

Temasek ramps up pressure over StanChart’s reform: Report
January 22, 2019 5:00 AMTemasek, the largest investor in Standard Chartered, has grown frustrated with the slow pace of reform at the UK-listed bank, the Financial Times (FT) reported yesterday.
— The Straits Times

Blogger Leong Sze Hian to file application to strike out PM Lee’s defamation claim
Blogger Leong Sze Hian’s lawyer intends to file an application to strike out Prime Minister Lee Hsien Loong’s original claim of defamation against his client.Mr Lim Tean, who represents Mr Leong, told Channel NewsAsia that he would file the application by this week after lawyers on …
— Channel NewsAsia (very annoying popups)

3 Singapore Blue Chips That Have More Than Doubled Their Profits In The Last Decade
Here are three blue chip companies that managed to double their net profit in the last 10 years.
— The Motley Fool

Bomb hoax call in 2004 lands man in jail
Justice was finally served yesterday when a man was sent to jail over false messages he made in 2004 involving a bomb at late founding prime minister Lee Kuan Yew’s Oxley Road house.
— The Straits Times

Sex abuse case: High Court rejects new evidence
The High Court yesterday rejected the testimony of a witness who came forward to support the claims of a convicted sex offender who insisted that his penis was deformed at the time he was accused of sexually abusing his daughter.
— The Straits Times

Panel looks at ways to attract and keep talent
Technology may be disrupting businesses, but bosses can also use it as a way to kick-start a conversation with employees on their future with the company.
— The Straits Times

Chiropractor, insurance agents to be charged for insurance fraud
Two men and a woman will be charged on Tuesday (Jan 22) for allegedly cheating an insurance company by submitting fake accident claims, said the Singapore Police Force.On Mar 20 last year, the Commercial Affairs Department launched an investigation against the male chiropractor and …
— Channel NewsAsia (very annoying popups)

ITE, polytechnic job-seekers to get more targeted help
New graduates from polytechnics and the Institute of Technical Education (ITE) will receive more targeted support in their hunt for jobs under a new initiative to help them transit to the working world.
— The Straits Times

Doc fined $100k for not warning patient of injection side effects
An orthopaedic doctor in private practice has been fined the maximum $100,000 for not telling his patient of the possible side effects of an injection he gave her.
— The Straits Times

Man charged for defaulting on NS obligations for more than three years
A 25-year-old man was charged in court on Monday (Jan 21) for allegedly defaulting on his National Service (NS) obligations for more than three years.Singaporean Zaley Cheng Xi Xiong is said to have failed to report for enlistment into full-time NS between Jun 10, 2014 and Aug 30, 2017 …
— Channel NewsAsia (very annoying popups)

Feature photo CDAC

This week’s Singapore morning news feature photo acknowledges International Day of Education, January 24.

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 January 22 added by John Le Fevre on January 22, 2019
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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.