Singapore morning news for July 3

Singapore morning news for July 3

Singapore morning news

Slow payments worsen for manufacturing sector in Q2
THE manufacturing sector had the worst slow payments deterioration in the second quarter, suggesting that the manufacturing recession is starting to hurt local firms’ cash flow and profitability, economists said.
— The Business Times

Singapore bucks regional M&A downtrend with 154% jump in H1 deal value
MERGERS and acquisitions (M&A) activity in most South-east Asian countries bucked the overall downtrend in the Asia-Pacific (Apac) ex-Japan for the first half this year, with Singapore recording US$17.1 billion in deals – a 154 per cent jump from a year ago.
— The Business Times

MOH to tobacco manufacturers: Standardised packaging or jail
After conducting an “extensive process” of review, research and several rounds of public consultations, MOH has directed all tobacco manufacturers, wholesalers, and retailers to conform to standardised packaging and enlarged graphic health warning requirements beginning Jul 1, 2020 or face jail time and a fine of up to S$10,000 if their products are found to violate the said standardised packaging guidelines.
— The Independent

MAS seeks views on raising 45% leverage limits for S-Reits
IN A move to enable Singapore real estate investment trusts (S-Reits) to better compete against private capital and foreign Reits when making real estate acquisitions, the Monetary Authority of Singapore (MAS) is considering raising their current leverage limit of 45 per cent.
— The Business Times

Free installation of smoke detectors in HDB rental flats till 2021
Smoke detectors have been installed in about 12,000 Housing Board rental flats since June last year as part of plans to introduce the devices in new residential homes and public rental units.
— Straits Times (annoying popups)

Audio recording to be allowed in taxis and private-hire cars
A year after taxis and private-hire cars were allowed to have inward-facing video cameras, the Land Transport Authority (LTA) said yesterday that these devices are also allowed to make audio recordings.
— Straits Times (annoying popups)

Singapore police officer to lead new Interpol counter-terrorism unit
An officer from the Singapore Police Force (SPF) will lead Interpol’s new Regional Counter-Terrorism Node (RCTN) and will work with police units in the Asia-Pacific region to encourage the transfer of intelligence concerning terrorist activities.
— Straits Times (annoying popups)

Weekly dengue infections hit 3-year high of 500 cases
The surge in dengue fever continues, with 500 people diagnosed last week – the highest weekly number in more than three years.
— Straits Times (annoying popups)

More companies slow with payments in Q2: Report
Local firms’ payment performance worsened in the second quarter after showing an improvement in the first three months, a report by the Singapore Commercial Credit Bureau (SCCB) noted yesterday.
— Straits Times (annoying popups)

7,500 sachets of chewing tobacco found hidden under curry puffs at Tuas Checkpoint
A total of 7,500 sachets of chewing tobacco were found hidden under curry puffs transported by a Malaysia-registered van at Tuas Checkpoint last Saturday (Jun 29).
— Channel NewsAsia (very annoying popups)

Thanks to an honest Singapore cabbie, I recovered my lost phone even after going home to India
I was visiting Singapore last year when I experienced an act of kindness from an honest cab driver, Mr Goh, that left a deep impression on me long after I had returned home to India.
— The Pride

3 Worst-Performing Singapore Blue-Chips in the First Half of 2019
A review of the worst performers of the Straits Times Index (SGX: ^STI) for the first half of 2019.
— The Motley Fool

Foreign Minister Vivian Balakrishnan commends NSmen and women on SAF Day 2019, welcomes 3rd grandchild
Singapore Foreign Minister Vivian Balakrishnan posted a tribute on his Facebook page to all the NSmen and women for Singapore Armed Forces (SAF) Day 2019 which was on July 1 (Monday).
— The Independent

GIC’s returns hold steady at 3.4%, maintains cautious investment stance amid uncertainties
GIC says future returns could be “low and volatile”given the uncertainties in the global environment ahead.
— Channel NewsAsia (very annoying popups)

Additive manufacturing offers collaboration opportunities across Asean
SINGAPORE can collaborate with Asean neighbours on additive manufacturing (AM) or industrial 3D printing, which is expected to generate US$100 billion in value in the region by 2025, said specialists at an event held by German conglomerate Thyssenkrupp on Tuesday.
— The Business Times

Which Singapore Hospitality REIT Should Investors Buy Right Now?
I looked at four Singapore-listed hospitality REITs to see which one is the best buy right now for investors.
— The Motley Fool

Fitness chain True Group sues founder and ex-CEO over closures
Fitness chain True Group is taking its former group chief executive officer Patrick Wee to court for alleged breaches of his employment contract and fiduciary duties as a director.
— Straits Times (annoying popups)

First batch of NIE-trained school counsellors get certs
He studied engineering in university, joined the navy, and worked as a real estate agent before he decided to be a school counsellor.
— Straits Times (annoying popups)

More in mainland China, HK parking funds in Singapore: Observers
The worst social turmoil to rock Hong Kong since it returned to Chinese rule more than two decades ago has dampened business sentiment in the territory and spurred more mainland Chinese and Hong Kong residents to park some of their funds here, according to observers.
— Straits Times (annoying popups)

Online designer toys and collectible platform Mighty Jaxx secures US$1.6M financing
A blockchain platform, Mighty Jaxx issues and validates tamper-resistant and permanent certificates to each and every collectible Singapore-based Mighty Jaxx, a blockchain-powered online platform for designer toys and collectibles, today said it has secured S$2.15 million (US$1.6 million) in pre-Series A investment round, led …
— e27

MAS proposes higher leverage limit for S-Reits
To help Singapore real estate investment trusts (S-Reits) better compete against private capital and foreign Reits when making real estate acquisitions, the Monetary Authority of Singapore (MAS) yesterday published a consultation paper proposing changes to their current leverage limit of 45 per cent.
— Straits Times (annoying popups)

ABB to supply chargers for public electric buses to ST Engg Land Systems, BYD Singapore
SWISS engineering group ABB will provide ST Engineering’s land systems arm and BYD Singapore with the charging infrastructure for 40 single-deck electric buses that will hit the roads of Singapore in early 2020.
— The Business Times

‘Policing needs to get better’: Josephine Teo highlights 3 areas that could help crime-fighters
Biometrics, data analytics and digital forensics are mentioned as areas that could help international crime-busters better do their jobs.
— Channel NewsAsia (very annoying popups)

Member of People’s Voice Party calls ruling Government a “money-driven” one for increasing fines for parking offences
People’s Voice’s Shadow Cabinet Member Kok Ming Cheang took to his Facebook on Wednesday (26 June) to slam the ruling Government for being “money-driven” after its recent hike in fines for parking offences in Singapore.
— The Online Citizen

GIC, Brookfield to buy US freight railroad company for US$6.4 billion in cash
Singapore’s sovereign wealth fund GIC and Canada’s Brookfield Asset Management on Monday (Jul 1) agreed to buy US freight railroad owner Genesee & Wyoming for about US$6.4 billion in cash.
— Channel NewsAsia (very annoying popups)

A hidden whisky museum, multimedia Lego show and other new deals in town
Looking for something new to do? From family-friendly fun to dining deals and boozy pleasures, here’s what to check out.
— Channel NewsAsia (very annoying popups)

Sovereign wealth fund urging portfolio companies to embrace tech – or be turfed out
IN MANY ways, it’s do or die. It is why GIC is actively encouraging incumbents in its portfolio to seize technology – or run a real risk of becoming irrelevant.
— The Business Times

Man dies after Orchard pub fight; two women among eight arrested
What started as an early morning pub brawl at Orchard Towers left one man dead, and eight people, including two women, have been arrested in connection with the case which the police have classified as murder.
— Straits Times (annoying popups)

Golden Equator Capital secures two capital funds valued at US$90M
The Singapore-based venture capital said it plans to raise US$200 million blind fund in 2020 Singapore’s Golden Equator Capital (GEC) has announced that it has raised two private capital funds totalling US$90 million, aimed for the growth capital of a public-listed company in the region.
— e27

Man set fire to pregnant wife, child after strangling them, court told
A week before Chinese New Year in 2017, debt-ridden property agent Teo Ghim Heng strangled his wife who was six months pregnant and their four-year-old daughter, a court heard.
— Straits Times (annoying popups)

Spotlight on issue of giving back to society
Could better work-life balance be the key to getting Singaporeans to give back to society? Why are the wealthy here not doing more to help the poor? And is Singapore a society where people live in their own cocoons, sheltered from the realities of inequality?
— Straits Times (annoying popups)

New fund helps patients with rare diseases cope with medical expenses
Singaporeans with three forms of rare diseases now have access to financial aid to help with their medical expenses, which can run into thousands of dollars each month.
— Straits Times (annoying popups)

Building firm GIE fined $54k for damaging water main
A construction firm has received the biggest fine to date for damaging a PUB water main.
— Straits Times (annoying popups)

InstaReM seeks lending partnership, gearing up for digital banking license
The Singapore-based cross-border payments startup is the first company that confirmed its intent to apply for a digital banking license released by the MAS The cross-border payments startup InstaReM announced it will apply for a digital banking license in the city-state, as learned by Bloomberg. The startup is said to be in the …
— e27

Police to get extra eyes and ears on public transport
The police have launched a scheme for ordinary people to be their eyes and ears for incidents that occur on public transport.
— Straits Times (annoying popups)

Dengue infections hit high as Aedes numbers rise
The 500 people diagnosed with dengue last week marked the highest weekly number in more than three years, and this follows the Aedes mosquito population rising by 56 per cent in May compared with March.
— Straits Times (annoying popups)

Returning Singaporeans can apply for school placement tests from today
Singaporean children who are returning from overseas and wish to study at a secondary school, junior college or Millennia Institute (MI) next year can apply to take school placement tests from today.
— Straits Times (annoying popups)

Top 3 performing office S-Reits average 27.6% return in 1st half
The top three performing Singapore real estate investment trusts (S-Reits) that own office assets here averaged a total return of 27.6 per cent in the first half of this year, bourse operator Singapore Exchange (SGX) said yesterday.
— Straits Times (annoying popups)

Digital banks must click with customers’ needs: Analysts
Digital banks will have their work cut out for them when they launch in Singapore, and their best shot for survival will be to have innovative products and snag a decent slice of the market, say experts.
— Straits Times (annoying popups)

More help for those seeking part-time employment
The Career Trial scheme lets employers and job-seekers try out a work arrangement for up to three months. The Government foots the bill for a training allowance of between $7.50 and $15 per hour.
— Straits Times (annoying popups)

Do HDB’s eco-flush toilets actually waste water?
Under the Housing and Development Board’s (HDB) Home Improvement Programme, 30-year-old public housing estates may avail themselves of upgrades, including for its plumbing fixtures for toilets.
— The Independent

Netizen exposes “legal scam” that preys on illiterate people convincing them to buy “cure all” chairs for as much as S$36,000
A netizen has exposed a “legal scam” that apparently preys on illiterate elderly people and convinces them to purchase chairs costing S$26,000 to S$36,000.
— The Independent

Police warn of resurgence of scam involving “officers from China”
On July 1, Monday, the Singapore Police Force issued an advisory concerning the emergence of the China Officials impersonation scam, since there have been 65 reports of such scams cheating people out of at least S$4.8 million.
— The Independent

Doctors Without Borders and WeWork hold 2nd Missing Maps Mapathon in Singapore
For the second time, international medical humanitarian organisation Médecins Sans Frontières/Doctors Without Borders (MSF) and WeWork team up for a public, large-scale Mapathon as a way for people from all walks of life to directly contribute to humanitarian efforts by digitally mapping some of the world’s most vulnerable places.
— The Online Citizen

Albino Singaporean thanks “god-awful” teacher who picked on him in school
A Singaporean has thanked an old teacher, who made disparaging remarks against him due to his albinism, for giving him the determination to succeed.
— The Independent

Wheelchair-bound elderly woman who is unable to reach her kitchen tap is forced to buy hot water at coffeeshop
A wheelchair-bound elderly woman has been forced to buy hot water at the coffee shop near her house, when the water in the containers her home care helpers fill runs out, since she is unable to reach the kitchen tap at her studio apartment.
— The Independent

STI closes flat after Monday’s flying start
The week got off to a flying start for Singapore equities following a surprise outcome from the Osaka meeting between the US and China.
— Straits Times (annoying popups)

Man arrested for using others’ credit card details to purchase mobile plans
A 32-year-old man has been arrested on the suspicion that he used other people’s credit card details to make unauthorised purchases of mobile subscription plans, police said on Tuesday (Jul 2).
— Channel NewsAsia (very annoying popups)

New initiative engages commuters as first responders to potential threats on public transport
Riders on Watch (ROW), an initiative tapping Singapore’s large community of commuters to be first responders to potential threats on public transport, was launched on Tuesday (Jul 2).
— Channel NewsAsia (very annoying popups)

Woman who assaulted, took a nude photo of, and locked up ex-girlfriend gets 3-year jail sentence
A woman who locked up her former girlfriend in her apartment for nine days last year along with three men, and beat the ex-girlfriend up, has received a prison sentence of more than three years after pleading guilty to several criminal charges.
— The Independent

Coffee Bean boo-boo, apologises for using photo of Chinese soldier for SAF Day promo
You could almost hear the country give out a collective wince when Coffee Bean and Tea Leaf featured a Chinese soldier for its SAF Day promotion.
— The Independent

 

Feature photo HERplanetearth

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

 

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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