Singapore morning news for January 4, 2019

Singapore GDP ends 2018 on a weaker note – ING
Robert Carnell, chief economist at ING, explains that in what was a remarkably steady year for Singapore’s economic growth, final quarter of GDP growth printed a figure of 1.6% QoQ.
— FXStreet (annoying popups)

Sugar tax, green perks, friendlier tax regime for startups: Deloitte
A SUGAR tax, incentives for green investment, and a tax regime that is friendlier to startups are among Deloitte Singapore’s Budget 2019 recommendations, released on Thursday.
— The Business Times

Factory growth cools, PMI down 0.4 point in December
Singapore’s factory growth slowed again last month, with the key electronics sector contracting further amid a weakening of the outlook for the sector globally and the fallout from the trade dispute between the United States and China.
— Straits Times

Annualised total returns of 9.2% over 10-year period for STI
The Straits Times Index (STI) generated annualised total returns of 9.2 per cent from 2009 to the end of 2018, thanks to the boost from reinvestment of dividends.
— Straits Times

Exposé : Draft of Singapore FTA submitted for cabinet approval was incomplete
The report by the committee of experts appointed to review the Singapore FTA has brought certain facts to light.
— News 1st

Insurance industry veteran says all caps on medical expenses imposed by “messy” MediShield and MediSave should be removed
Former NTUC Income chief executive Tan Kin Lian has slammed national healthcare insurance schemes MediSave and MediShield as being “confusing and messy” as he called on the Ministry of Health to eliminate caps on medical procedures and offer better support to members facing huge medical bills.
— The Independent sg

Singaporean activist found guilty of organising illegal protest
A Singaporean activist was found guilty Thursday of organising an illegal protest after holding what he called a “harmless” public discussion in 2016 that featured Hong Kong democracy campaigner Joshua Wong speaking via Skype.
— FMT

Yahoo Poll: With resale flat prices down, will you be looking to buy one?
Prices of resale flats in Singapore fell 0.9 per cent in 2018, according to flash estimates released by the Housing and Development Board (HDB) on Wednesday (2 January).
— Yahoo News

Singapore-Malaysia tensions still simmer ahead of bilateral talks
The foreign ministers of Singapore and Malaysia will meet next Tuesday to discuss the airspace dispute that has been lingering between them for the past weeks.
— Nikkei Asian Review (paywall)

Single punter wins $9.7 million Toto prize
Punters queueing up to buy Toto tickets at the 7-Eleven outlet at Block 102 Yishun Avenue 5 yesterday. Last night, a single punter won the Group 1 cascade draw prize of $9,731,377. The winning ticket was sold at FairPrice Changi Business Park Hypermarket.
— The Straits Times

Few bright spots in sight for local residential sector in near term, says OCBC
Investment Research is maintaining “neutral” on the local residential sector after Singapore home prices posted their first decline in six quarters, according to recent Urban Redevelopment Authority (URA) flash estimates.
— The Edge

Tesla’s Musk Says Singapore Government Has Been ‘Unwelcome’
Tesla Inc.’s Elon Musk reiterated that Singapore has been “unwelcome” to the company, doubling down on his previous assertions that the government isn’t supportive of electric vehicles.
— Bloomberg

Fewer HDB flats sold last month
The number of Housing Board flats that changed hands last month was 23.9 per cent lower than in November, a bigger fall than a year ago, flash data from real estate portal SRX showed yesterday.
— the new paper

Ascendas-Singbridge acquires 12.2-acre Chennai site for development of new IT park
Ascendas-Singbridge Group has acquired a 12.2-acre site in Chennai for an undisclosed sum from GSquare Group, making it Ascendas-Singbridge’s sixth property in the city.
— The Edge

Look Ahead 2019: Education — Attempt at levelling playing field kicks off
Whenever six-year-old Arielle Soon returns home from her childcare centre, she immediately whips out a piece of paper and pencil and starts doodling.
— Today Singapore

A Singapore-style economy would be bad for public services – and worse for women
Another day, another substanceless soundbite from a government rapidly running out of ideas. Yesterday it was Singapore’s turn to have its day in the sun.
— New Statesman

Malik says FTA with Singapore is on
Despite the recommendations of the Committee of Experts (CoE) appointed by President Maithripala Sirisena to revisit the Sri Lanka-Singapore FTA, Development Strategies and International Trade Minister Malik Samarawickrama insisted the Government is going ahead with it.
— Daily FT

Crabtree and Evelyn to close stores as it goes online only
Bath and body product retailer Crabtree and Evelyn will be shutting its 12 stores here in the coming months as it moves its operations online, with some outlets already emptied of goods.
— Straits Times

Being black in Singapore: The Lion City’s African story is alive with slaves, footballers and bad hair days
hen Black Panther hit cinemas in Singapore early last year, Cristelle Mouyelo decided there was only one way to celebrate the big screen debut of the first mainstream African superhero – she and her family headed for the movies dressed up in African garb and a bit of face paint.
— Channel NewsAsia

SingPost launches pig-themed stamps for Chinese New Year
SingPost will launch a set of zodiac pig stamps on Friday (Jan 4) to usher in the Year of the Pig.
— Straits Times

Singapore Reits start the year well, ‘likely to continue to shine’
REAL estate investment trusts (Reits) are doing well, as investors take cover behind yield plays.
— The Business Times

Singapore Bicentennial Office on the “disappearing” Raffles Statue in Boat Quay: “an invitation to explore our longer history”
From Dec 29 to Jan 3, Singapore will have a disappearing statue of Sir Stamford Raffles along the Singapore River in Boat Quay, believed to be the landing site of the British in 1819, as part of the pre-celebration of the Singapore’s Bicentennial anniversary launching on Jan 28. Onlookers were shocked, amazed, curious, and such […]
— The Independent sg

After spate of corporate scandals, more shareholder protections in view
When asked to describe the state of minority shareholder rights in 2018, market watchers gave mixed reactions. S Suressh, Eversheds Harry Elias partner, says it is stronger, but to corporate governance don Mak Yuen Teen, it is “horrible”. And some retail investors, like Teo Hee Huat, say they feel suffocated by the spate of corporate shenanigans.
— The Edge

Sustainable investing to pick up pace, but greenwashing may be a problem amid lack of global standards
There is currently some US$24 trillion ($33 trillion) in sustainable investing — or investment strategies that take into account environmental, social and governance (ESG) standards while earning returns. The amount under management represents nearly one-third of the total value of stocks traded on the world’s major stock exchanges last year.
— The Edge

No rest for the dead: Singapore digs up graves for highways
When Singapore’s government said it would exhume about 4,000 graves in the defunct Bukit Brown cemetery for an eight-lane highway, an unusually vocal campaign grew quickly to save one of the last remaining artifacts of the past in the modern city.
— Reuters

EMS Energy morphing into Vietnamese ship repairer in $16.6 mil RTO deal
EMS Energy, whose shares have been suspended three years ago, could have finally resolved its business viability issues through the proposed reverse takeover of a Vietnamese ship repairer.
— The Edge

UK Foreign Secretary touts S’pore as post-Brexit Britain model & colonial legacy as reason for success
It has been two years since the British talked about the fantasy that is UK emulating Singapore post-Brexit — and they are still at it.
— Mothership

CASE warns Ofo Singapore as users complain of fewer bikes
Even as bike-sharing company Ofo faces cash flow problems, it must continue to ensure that it has enough bicycles for its users in Singapore, said the Consumers Association of Singapore (CASE).
— Channel News Asia

LTA to open licence applications for PMD-sharing services on Jan 4
Licence applications for motorised personal mobility device (PMD)-sharing services will open on Friday (Jan 4), said the Land Transport Authority (LTA)Â on Thursday.Â
— Channel News Asia

“Much to learn from Singapore,” British Foreign Secretary says as UK prepares launching of strategic partnership with SG
In three months, Britain leaves the European Union and intends to further intensify its relations with South East Asia. British Foreign Secretary Jeremy Hunt says that a post-Brexit Britain aims to form strategic collaborations with Singapore, a partnership that will be launched within the week. Speaking on his first of a three-day visit to Asia, […]
— The Independent sg

These 5 Blue-Chip Shares Grew Their Dividends By At Least 20% In The Last 5 Years
These five blue chip companies have grown their dividends by at least 20% in the last five years.
— Motley Fool sg

Should You Fall In Love With Glamour Stocks?
The excitement and thrill associated with glamorous stocks may be tough to avoid.
— Motley Fool sg

The Worst-Performing Blue Chip Shares In 2018 (Part 2)
Here are more worst-performing Straits Times Index (SGX: ^STI) companies in Singapore in 2018.
— Motley Fool sg

Bigger fall in HDB resale flats sold in December 2018 due to cooling measures: Experts
The number of Housing Board flats that changed hands in December 2018 was 23.9 per cent lower than in November, a bigger fall than a year ago, according to flash data from real estate portal SRX on Thursday.
— Straits Times

MP & Silva to be wound up in Singapore
The Singapore branch of international sports agency MP & Silva is set to be wound up after being placed in provisional liquidation.
— SportsPro

How Does Keppel Corporation Limited Make Money?
A quick look at how Keppel Corporation Limited (SGX: BN4) generates revenue.
— Motley Fool sg

Vietnamese investors to inject shipyard asset, take substantial stake in EMS Energy
Offshore and marine engineering company EMS Energy has entered into a binding memorandum of understanding (MOU) to acquire a 52.76 per cent stake in Vietnamese shipyard Nosco Shipyard Joint Stock Company for an expected $16.6 million in shares.
— Straits Times

Stocks to watch: Sembcorp Industries, ISOTeam, Aspen Holdings, ISR Capital
The following companies saw new developments that may affect trading of their shares on Thursday (Jan 3):
— Straits Times

Feature photo The Cabin Singapore

This week’s Singapore morning news feature photo focuses on the death, pain, and loss that typically occurs at this time of year on Asean roads due to drunk driving, speeding, and a failure to wear protective helmets when travelling on motorbikes.

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 4 added by John Le Fevre on January 4, 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.