Singapore morning news for July 17

Singapore morning news for July 17

Singapore morning news

EU registering protection for F&B goods as FTA with Singapore nears
WITH the EU-Singapore free trade agreement (EUSFTA) set to come into force by the end of the year, the European Union (EU) has submitted 138 mostly food and beverage-related geographical indications (GIs) for approval here, with 100 successful registrations received to date.
— The Business Times

IMF: Singapore’s financial sector oversight among world’s best, but 2019 growth outlook is weaker
THE International Monetary Fund (IMF) has reaffirmed Singapore’s financial sector oversight to be among the best globally, and described the country’s economic fundamentals as strong, and its economic policies as sound.
— The Business Times

Will it be one, two or three for 5G?
SINGAPORE telecom operators are divided on the regulator’s plans for a 5G network model, though industry analysts largely stuck with the structure put forth by the Infocomm Media Development Authority (IMDA).
— The Business Times

About 160 workers deported over loans
About 160 foreign work-pass holders – mostly domestic workers – who borrowed money from unlicensed moneylenders and loan sharks have been repatriated since last October and barred from employment here.
— Straits Times (annoying popups)

Weekly dengue cases hit 3 1/2-year high
The number of dengue cases in a week has hit a 31/2-year high, with 666 cases recorded from July 7 to 13, the National Environment Agency (NEA) said.
— Straits Times (annoying popups)

Commentary: Singapore and the dreaded R word – recession
Bad news is good news for the prepared, says Singapore Business Federation CEO Ho Meng Kit.
— Channel NewsAsia (very annoying popups)

Body to broaden ties between Singapore and Vietnam businesses
THE Singapore Business Federation (SBF) and the Vietnam Chamber of Commerce and Industry (VCCI) have launched the Vietnam-Singapore Business Council (VSBC) to broaden their strategic cooperation.
— The Business Times

Blockchain startup JEDTrade launches privacy-protected data exchange platform
The platform Jupiter Chain enables data analytics use with maintained privacy Singapore-based blockchain startup JEDTrade today announced the launch of Jupiter Chain, a consent-able data exchange platform that enables the use of data analytics without compromising on privacy. According to a press note, Jupiter Chain allows blockchain technology to be put …
— e27

Singapore’s hook as a site for corporate treasuries
IN the first half of this year, numerous geopolitical events highlighted the importance of political stability and a transparent legal system and regulatory framework.
— The Business Times

Singapore firm budgets up to S$15m for a full smart factory
AMID manufacturing headwinds, Fong’s Engineering and Manufacturing is prepared to spend up to S$15 million to launch a full-fledged smart factory in the next three to five years, in a bid to boost revenue and productivity.
— The Business Times

Accountant jailed 25 years, 10 months for embezzling $41m
A certified public accountant with an insatiable appetite for gambling who siphoned close to $41 million from his clients for over a decade to feed his addiction was yesterday sentenced to a jail term of 25 years and 10 months.
— Straits Times (annoying popups)

Delivery rider on e-scooter injures man
A GrabFood delivery rider left an elderly man with a brain injury after piling into him on his e-scooter.
— Straits Times (annoying popups)

Singapore’s diamond marketplace startup Luxiee raises seed funding
The round was led by Kewee Kho, Vice Chairman of Roadbull Logistics and independent Director of Courts Asia Luxiee, a Singapore-based online diamond marketplace, has raised a six-figure investment in seed funding, led by Kewee Kho, Vice Chairman of Roadbull Logistics and independent Director of Courts Asia. The funds will be channeled towards marketing, …
— e27

Engineering SME to launch full smart factory in 3-5 years
Fong’s Engineering and Manufacturing, a maker of high-end medical devices, aims to launch a full-fledged smart factory in the next three to five years, a move expected to boost its revenue by 20 per cent year on year.
— Straits Times (annoying popups)

More mosquitoes or mutating virus? Experts have different views on dengue spike
Singapore could see more cases of dengue than usual in 2019 after a lull of a few years, but it is not clear what is causing the current spike, infectious diseases experts told CNA.
— Channel NewsAsia (very annoying popups)

IMDA says radiation level of 5G network is “very low” despite health concerns raised by Singaporeans and international scientists
From 7 May, the Info-communications Media Development Authority (IMDA) began accepting views from Singaporeans as part of its second feedback round on the implementation of fifth-generation (5G) network.
— The Online Citizen

Commentary: Singapore trade, disrupted, (not) business as usual
A troubling and potent mix of factors have reshaped the global trade landscape and created greater headwinds for Singapore businesses, says SMU’s Professor Locknie Hsu.
— Channel NewsAsia (very annoying popups)

20 Cheap Shares from Singapore’s Stock Market
Here are the cheapest Singapore shares in the local stock market currently.
— The Motley Fool

Why I Think This Singapore Retailer Could be an Amazing Turnaround Story
Dairy Farm International Holdings Ltd (SGX: D01) is undertaking a strategic review and a transformation plan. Here’s why I think investors should be excited.
— The Motley Fool

Discretionary portfolios finding favour with Bank of Singapore clients
BANK of Singapore is seeing a surge in interest from clients in discretionary portfolio management (DPM) – with a 40 per cent jump among its Singapore clients seeking out the service between 2016 and 2018.
— The Business Times

Prudential Singapore sues former top manager for up to S$2.5b
PRUDENTIAL Assurance Co Singapore is suing its former top agency manager Peter Tan Shou Yi for up to S$2.5 billion for allegedly plotting to recruit at least 250 top Prudential agents for Aviva Singapore.
— The Business Times

Police reports made after AGO highlights lapses
The Ministry of National Development and Urban Redevelopment Authority have made police reports after the Auditor-General questioned the authenticity of a significant number of quotations by contractors for public projects.
— Straits Times (annoying popups)

Police begin probe over irregular quotations received by MND and URA after AGO report
The Auditor-General’s Office report released on Tuesday highlighted irregularities in a significant number of quotations by contractors for public projects.
— Straits Times (annoying popups)

Tapping tech to ease labour crunch in social service sector
The social service sector will offer technological solutions to charities at a subsidised rate to help ease their manpower shortage.
— Straits Times (annoying popups)

Feedback sought on how Singapore can move towards low-carbon future
A public consultation exercise was launched by the National Climate Change Secretariat yesterday to seek feedback on measures that can be taken to contribute towards Singapore’s long-term low carbon emissions strategy.
— Straits Times (annoying popups)

Social service sector gets S$20m boost to adopt technology, tackle manpower crunch
The social service sector is getting a S$20 million boost to tackle a manpower crunch through two initiatives that will offer subsidies to social service agencies to take up technology and undergo job redesign.
— Channel NewsAsia (very annoying popups)

Board’s statement on amount covered by CPF on medical grounds is misleading, says Suriia Das
CPF’s statement misleading, says Suriia Das whose application to withdraw his CPF savings to continue paying for his wife’s cancer treatment was denied by the CPF Board.
— The Online Citizen

It is crucial to the future of Singapore for people to make themselves heard, according to LKY
With all the recent discussions surrounding protests and demonstrations, on whether or not a movement such as the one in Hong Kong would ever be replicated in Singapore, one has to wonder what the founder of Singapore would have said about Singapore’s reticence to public assemblies.
— The Online Citizen

Lawyers for Liberty urges Singapore to withdraw “unacceptable threats” against lawyer representing Malaysians on death row
Human rights and law reform organisation Lawyers for Liberty (LFL) released a statement today (16 July) calling for Singapore authorities to withdraw “baseless allegations and unwarranted threats” against Malaysian lawyer and founder of LFL N Surendran who has been representing Malaysians death row prisoners, including Pannir Selvam Pranthaman.
— The Online Citizen

Singtel’s Share Price Has Risen 21% Year-to-Date. Is There Room for Further Growth?
Though Singapore Telecommunication Limited (SGX: Z74) has seen its share price performing very well year to date by rising 21%, I believe there is still further room for the business to improve.
— The Motley Fool

Best World gets SGX nod on expanded independent review
BEST World International said the scope of its expanded independent review has been finalised and approved by the Singapore Exchange (SGX RegCo), with the independent review in progress.
— The Business Times

Get to know your postman, rate his service
Residents of Yishun and Bukit Timah can now learn who their postman is, and rate him through a new feedback channel launched by Singapore Post yesterday to improve service standards and address letterbox-related issues more quickly.
— Straits Times (annoying popups)

Student leaders urged to be kind, serve community
Top voice artist Pocholo Gonzales has empowered youth in his native Philippines by giving them a channel to air their concerns about social issues on radio shows.
— Straits Times (annoying popups)

First dementia care village to be built in Sembawang
A special village, the first of its kind in Singapore, will be built to care for dementia patients and improve their quality of life and the residential options available to them.
— Straits Times (annoying popups)

Here’s a first: Man fined for riding non-compliant PMD
A 40-year-old man was fined $600 yesterday for riding an e-scooter 6cm wider than the prescribed 70cm limit on a public path.
— Straits Times (annoying popups)

One maid’s horror story: 4 moneylenders, 4 loan sharks and $4,500 in debt
When her brother lost his civil engineer job in Qatar, Filipino maid Natalia (not her real name), 30, took it upon herself to help him clear a debt of around 40,000 pesos (S$1,067) owed to an employment agency.
— Straits Times (annoying popups)

Jail sought for woman who kept $50k in love scam
The prosecution has pressed for a three-month jail term for a woman who allowed a love scammer to use her bank account and later decided to keep $50,000 of the ill-gotten gains for herself.
— Straits Times (annoying popups)

H&M’s move to start charging for bags welcomed by shoppers
Fashion giant H&M will soon start charging customers in Singapore 10 cents for each plastic or paper bag, as part of a new initiative to reduce waste.
— Straits Times (annoying popups)

Man who fell to death at Ngee Ann City was US expat in real estate firm
The 35-year-old man who fell down several floors to his death at Ngee Ann City shopping mall on Sunday has been identified as Mr Aman Demoz Solomon, an American who was working in Singapore for a real estate investment management company.
— Straits Times (annoying popups)

Utico says its offer for stake in Hyflux now worth $535m
Hyflux is under more pressure to sign a potentially life-saving deal after its white knight investor said its offer for an 88 per cent stake in the debt-laden water treatment company is now valued at $535 million, up from $400 million.
— Straits Times (annoying popups)

Police refute ‘irresponsible’ allegations about checks on madrasah students
Allegations that Public Transport Security Command (TransCom) officers had conducted checks on two madrasah students because they had a quota to hit are untrue and irresponsible, police said on Tuesday (Jul 16).
— Channel NewsAsia (very annoying popups)

Myanmar nationals protest outside Singapore embassy in Washington
A group of Myanmar nationals staged a protest in front of the Singapore Embassy in Washington DC on Monday (Jul 15), in a show of support for the six Myanmar nationals who were recently arrested in Singapore and deported.
— Channel NewsAsia (very annoying popups)

New tripartite initiative to help Singapore firms hire persons with disabilities
A NEW inclusive-hiring initiative has been launched to promote sustainable employment for persons with disabilities (PWDs).
— The Business Times

Utico says it will buy 88% stake in Hyflux for S$535 million
United Arab Emirates (UAE) utility firm Utico is buying an 88 per cent stake in Singapore-based water treatment company Hyflux for S$535 million, the Middle Eastern company said on Tuesday (Jul 16).
— Channel NewsAsia (very annoying popups)

ST Forumer asks PA to account for CC used by foreigners to further their political causes
A member of the public, Gabriel Cheng Kian Tiong, wrote to ST Forum today (16 Jul) questioning People’s Association on why a facility of community club was used by foreigners to further their political causes.
— The Online Citizen

Memtech gets SGX nod for proposed delisting
Electronics components manufacturer Memtech International has been given the green light to delist once it has completed the compulsory acquisition by its controlling shareholders, the Chuang family.
— Straits Times (annoying popups)

Retailer caught selling cigarettes to teen in school uniform has licence revoked
An outlet in Ang Mo Kio has had its tobacco retail licence revoked after it was caught selling cigarettes to a 17-year-old in school uniform.
— Channel NewsAsia (very annoying popups)

 

Feature photo WorldSkills Thailand

This week’s Singapore morning news feature photo acknowledges World Youth Skills Day, July 15.

 

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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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 35 years experience as a journalist, photographer, videographer and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia.

He has covered major world events including the 1991 pillage riots 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.

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