Singapore morning news for July 2

Singapore morning news for July 2

Singapore morning news

Singapore imposes least burden in VAT, GST compliance: study
SINGAPORE came out tops in a latest study by UNSW Sydney and KPMG that considered the compliance requirements and administrative burden associated with adhering to Value Added Tax (VAT) and Goods and Services Tax (GST) rules.
— The Business Times

Graft probe on IG Aviation Singapore directors scuppers parent’s IPO
INVESTIGATIONS into alleged corrupt acts by three directors of IG Aviation Singapore Pte Ltd (IGA) have thwarted plans by the company’s parent, IG Logistics Group Pte Ltd, to seek a listing on the Singapore Exchange (SGX).
— The Business Times

ST edited their article to remove any mention of Lee Hsien Yang and family attending this year’s Pink Dot Rally
Last Saturday (29 June) was Pink Dot’s 11th Rally. Hong Lim Park was painted pink as the local LGBTQ+ community gathered for the annual Pink Dot SG event to highlight the challenges and discrimination the community faces in Singapore.
— The Online Citizen

Fintech Singapore Life secures US$90m from major Japan insurer
SINGAPORE Life – a fintech with an insurance and wealth focus – has secured a US$90 million investment from Sumitomo Life Insurance, with the major Japanese life insurer buying about 25 per cent in the Singapore firm.
— The Business Times

Singapore private home prices unexpectedly rise to 5-year high in Q2
Private home prices in Singapore bounced to a five-year high in the second quarter after slipping in the prior two quarters in the face of property curbs, underlining the resilience of the country’s real estate sector widely seen as a safe haven.
— Channel NewsAsia (very annoying popups)

Q2 home prices post surprise rise, but analysts call it an anomaly
APARTMENT and condo prices in Singapore rose by 1.3 per cent in the second quarter of 2019 – catching market watchers by surprise.
— The Business Times

Beware four skin creams with undeclared ingredients: HSA
The Health Sciences Authority (HSA) yesterday warned the public against buying or using four skin creams found to contain undeclared potent ingredients.
— Straits Times (annoying popups)

From next July, tobacco items to be sold in standardised packaging
Cigarette packs and all other tobacco products sold in Singapore must have standardised packaging and enlarged graphic health warnings from July 1 next year, the Ministry of Health (MOH) announced in a statement yesterday.
— Straits Times (annoying popups)

HDB Q2 resale prices fall slightly, continue decline
Prices of resale flats for the second quarter of this year fell 0.2 per cent from the first quarter, according to flash estimates released by the Housing and Development Board (HDB) on Monday (Jul 1).
— Channel NewsAsia (very annoying popups)

‘Ethical hackers’ could get up to US$10,000 under government programme
ETHICAL hackers could stand to earn anywhere from US$250 to US$10,000 under the second Government Bug Bounty Programme (BBP) for discovering vulnerabilities within government-related systems and digital services, the Government Technology Agency (GovTech) and Cyber Security Agency (CSA) of Singapore announced on Monday.
— The Business Times

GIC, Brookfield to buy freight rail operator Genesee & Wyoming for US$6.4b
Singapore’s sovereign wealth fund GIC and Canada’s Infrastructure have agreed to acquire US freight railroad owner Genesee & Wyoming Inc (G&W) for about US$6.4 billion (S$8.68 billlion) in cash.
— Straits Times (annoying popups)

APAC banks could see M&As, not so much for Singapore: report
ASIA-PACIFIC banks have to be cost-efficient or prepare to be acquired, warned McKinsey & Company. But there is considerably less room for consolidation in Singapore.
— The Business Times

Tackling drone incursions major challenge for Singapore: Panel head
Tackling drone incursions is a major challenge for Changi Airport because of Singapore’s unique circumstances, said Mr Timothy de Souza.
— Straits Times (annoying popups)

Victims of ‘Chinese official’ scams lose $4.8m in 4 months
He panicked when he got a call, purportedly from Singtel, telling him his mobile account would be terminated as he had been implicated in a crime.
— Straits Times (annoying popups)

Lower GrabShare fares – if you can wait
Commuters will soon be able to book shared rides on ride-hailing app Grab for a slightly lower price and with a smaller chance of a sudden detour, in exchange for a waiting time of up to five minutes for the ride.
— Straits Times (annoying popups)

Do away with NDP funpacks to cut waste: Green group
Those lucky enough to land tickets for the National Day Parade (NDP) and its rehearsal shows are often just as excited to receive the funpacks, often a plastic tote bag filled with items like bottled water, ponchos and even the maracas, a musical instrument.
— Straits Times (annoying popups)

Over 85,000 e-scooters registered before deadline
More than 85,000 e-scooters were registered with the Land Transport Authority (LTA) before the deadline to do so ended on Sunday. Of the total, almost 1,000 registrations were recorded on the last day, an LTA statement said yesterday.
— Straits Times (annoying popups)

NTU tops young university list for 6th straight year
Nanyang Technological University (NTU) has been ranked the world’s best young university for the sixth straight year.
— Straits Times (annoying popups)

Singapore firms cater to Indian market’s appetite for healthy food
When Singapore snack and confectionery company Ace Synergy International decided to enter India’s food retail market, it picked one of its healthier snacks – multigrain chips – for the launch.
— Straits Times (annoying popups)

Sphere Exhibits wins Malaysian award; sets records for events here
Events company Sphere Exhibits, a subsidiary of Singapore Press Holdings, has won an award in Malaysia and set various records for its festivals here this year.
— Straits Times (annoying popups)

Fine, jail for offenders who do not sell tobacco products in standardised packaging from July 2020
Tobacco manufacturers, wholesalers and retailers may face jail time and a fine of up to S$10,000 if their products do not conform to standardised packaging and enlarged graphic health warning requirements from Jul 1, 2020.
— Channel NewsAsia (very annoying popups)

Planned state-of-the-art SAF training facility will replicate Singapore’s streets
The Ministry of Defence announced a plan to develop a new smart training facility for the armed forces. The training area will feature replicas of Singapore’s streets and commercial areas, battle simulators, targets that are simulated to shoot back, as well as capacities for data analytics.
— The Independent

Jail for woman who attacked ex-girlfriend, held her for 9 days
Unhappy with her former girlfriend, a doughnut shop employee and three men assaulted the woman in a Marsiling flat and kept her there for nine days.
— Straits Times (annoying popups)

Gleneagles to raise $43,200 to help schoolchildren
In celebration of its 60th anniversary this year, Gleneagles Hospital has pledged to raise funds to help 60 beneficiaries of The Straits Times School Pocket Money Fund (STSPMF) with $60 a month for one year to cover their food and transport expenses.
— Straits Times (annoying popups)

Postcards by literary greats among items donated to library
Both Mr Muhammad Ariff Ahmad and Mr Masuri S. N. are recognised as titans and pioneers of Malay literature and who were firm friends since their teenage years.
— Straits Times (annoying popups)

Disclosing HIV status not enough; sexual partners must be told of infection risks: High Court
The court dismissed an appeal by an HIV-positive Singaporean convicted of not informing a victim.
— Straits Times (annoying popups)

Singapore is home to NTT’s Asia-Pacific head office
A newly formed global technology services provider is making Singapore its Asia-Pacific head office, with plans to hire here in the areas of automation and cyber security.
— Straits Times (annoying popups)

Sumitomo Life pumps $122m into start-up S’pore Life
Singapore Life – a fintech firm with an insurance and wealth focus – has secured a US$90 million (S$122 million) investment from Sumitomo Life Insurance, with the Japanese life insurer taking about a 25 per cent stake in it.
— Straits Times (annoying popups)

Maxi-Cash makes cash offer to buy back 5.5% notes
Catalist-listed pawnbroker Maxi-Cash Financial Services is offering to buy in cash up to $5 million in total principal amount of its outstanding 5.5 per cent notes due next year.
— Straits Times (annoying popups)

Lonza buying drug production facility in Switzerland from Novartis
Chemicals and biotech firm Lonza Group is buying a sterile drug production facility in Switzerland from pharmaceutical giant Novartis.
— Straits Times (annoying popups)

Over 900,000 HDB households to get S$300 million GST vouchers this month
According to a press release from the Ministry of Finance (MOF) on July 1, Monday, there are around 930,000 Singaporean HDB households that will receive the next installment of the GST Voucher this month, for the specific purpose of utility rebates.
— The Independent

Temasek buys stake in Hong Kong’s logistics tech company for US$300M
State investor Temasek reportedly has acquired 21.7 per cent stake in Li & Fung’s logistics business Hong Kong sourcing company Li & Fung has sold 21.7 per cent of its logistics business LF Logistics to Singapore-based investor Temasek for US$300 million, DealStreetAsia reported.
— e27

Analysts predict Temasek and GIC to have negative returns in last fiscal year
The Chinese media reported today (1 Jul) that Temasek and GIC would likely be releasing their latest financial results for the last fiscal year in the coming 2 weeks.
— The Online Citizen

Military personnel honoured at SAF Day events
Four combined rededication ceremonies and a parade were held yesterday to mark Singapore Armed Forces (SAF) Day, as current and former servicemen across the country donned uniforms to work and posted tributes on social media.
— Straits Times (annoying popups)

Mother orangutan hands over baby to S’pore zookeeper in display of trust
True bond forged between animal and man.
— Mothership

No response from government on whether ministers enjoy comprehensive medical insurance coverage
I was recently hospitalised in a public hospital for a few days and while I was hospitalised, I have observed for myself at first hand how those nurses went about their work 24/7, their nationalities and also thought deeper about issues relating to medical costs, medical insurance, medical subsidies and more.
— The Online Citizen


Feature photo HERplanetearth

This week’s Singapore morning news feature photo focuses on plastic waste throughout Asean.


FindĀ 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 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.

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