Singapore morning news for March 12

Singapore morning news for March 12

Singapore morning news

Citi Joins UBS in Setting Up Singapore Currency Trading Hub
Citigroup Inc. is planning to join UBS AG with an electronic currency trading and pricing platform in Singapore, setting up systems to boost liquidity in Asia’s biggest foreign-exchange hub.
— Bloomberg

Singaporeans must work together to counter fake news: Iswaran
Laws being drawn up to counter the scourge of fake news will “not be sufficient” and everyone has to play their part to protect Singapore from the danger it poses, Minister for Communications and Information S. Iswaran said on Monday (March 11).
— Straits Times (annoying popups)

Singapore partner of US fraudster Mikhy Brochez loses cheating conviction appeal
The Singapore doctor embroiled in the leak of confidential HIV patient data has lost his appeal in the High Court against an earlier conviction of helping his partner to cheat on a blood test, and of providing false information to the police and Ministry of Health (MOH).
— Malay Mail

The Monetary Authority of Singapore sets up Technology Group to support digital transformation
The Monetary Authority announced yesterday Wednesday 6th March that they were making organizational changes to strengthen its leadership as well as setting up a new technology group (TG).
— Open Gov Asia

Ministry of Law seeks public feedback on draft Bill for resolving intellectual property disputes
The Ministry of Law is seeking public feedback on a draft Bill that will centralise the hearing of most civil intellectual property (IP) disputes in the High Court.
— Straits Times (annoying popups)

SingHealth rolls out medicine delivery service for patients
Patients at hospitals, polyclinics and some specialist centres under the SingHealth group of healthcare institutions can now get their prescription medication delivered.
— Straits Times (annoying popups)

Singapore Airport just went to the next level with its newest addition
Not content with just being the best layover airport in the world, Singapore Changi Airport is blowing all other airports out of the water with its latest extension.
— Finder

Rise in traffic summonses after public feedback
More people are reporting bad behaviour on the roads to the Traffic Police (TP), and the number of summonses related to public feedback has increased 1.5 times over the past five years.
— Straits Times (annoying popups)

S’pore a hot spot for business e-mail scams and malicious Web addresses: Trend Micro
Online fraudsters find Singapore to be the easiest place in the region to set up shop, according to a cyber-security firm.
— Straits Times (annoying popups)

Media dogfight over Singapore’s F-35 deal
Singapore’s latest decision to shell out billions for new F-35 Joint Strike Fighter aircraft from Lockheed Martin was not aimed at China, claimed the city state’s defense ministry, and Chinese papers also moved in concert to quash speculation in the US media linking Singapore’s purchase of advanced fighters to the People’s Liberation Army’s increasing pull in the region.
— Asia Times

SATS unveils S$25 million kitchen expansion
Inflight meal caterer SATS is boosting its overall food production by 14 per cent, with a S$25 million facility that launched on Monday (Mar 11).
— Channel NewsAsia (very annoying popups)

GIC picks up Singtel’s tab sinking S$1b into “junk-rated” Indian telecom company
Last Thu (7 Mar), Bloomberg published a news article revealing that Singapore’s GIC will be investing Rs5,000 crore (S$972 million) into the troubled India’s second largest telecom company, Bharti Airtel Ltd.
— The Online Citizen

Hyflux postpones upcoming town hall meeting as it looks for ‘larger venue’
SINGAPORE: Embattled water treatment firm Hyflux is postponing Wednesday’s town hall meeting due to the need to secure a “larger venue”, it said in an announcement late on Monday (Mar 11).
— Channel NewsAsia (very annoying popups)

Impossible Foods enters Singapore market
US-based meat alternative firm Impossible Foods has finally confirmed that it has expanded its footprint into the Singapore market through its foodservice channels following months of rumours.
— Global Times

Parliament: Budget is for the long term; goodies not part of ‘cynical election scheme’, says Tan Chuan-Jin
If this year’s Budget goodies were part of a “cynical election scheme”, the $6.1 billion Merdeka Generation Package would never have been budgeted for, said Speaker of the House Tan Chuan-Jin on Friday (March 8).
— Straits Times (annoying popups)

Will potential white knight investor rescue Ezion from the red?
DBS Vickers Securities is reiterating its “hold” call on Ezion Holdings with a target price of 5 cents, which is based on 10 times FY20 fully-diluted earnings after lowering FY20 earnings forecasts by 45%.
— The Edge Singapore

Explainer: What is the relationship between one’s retirement age and CPF payout eligibility age?
The issue of the minimum age at which an individual can receive payouts from his Central Provident Fund (CPF) savings has resurfaced after Manpower Minister Josephine said in Parliament on Tuesday (March 5) that the retirement and re-employment age will be raised, though no details were given.
— Today Online

What does Hyflux’s amended restructuring plan mean for retail investors? Experts weigh in
The holders of Hyflux’s perpetual securities and preference shares will get back slightly more cash under a rejigged restructuring plan, but experts are split on whether the improved terms will be enough to persuade these junior creditors to give the ailing water treatment firm a second chance at next month’s do-or-die vote.
— Channel NewsAsia (very annoying popups)

Yahoo Poll: Will you miss the SAFRA Singapore Bay Run and Army Half Marathon this year?
The Singapore Armed Forces (SAF) will not be holding its annual SAFRA Singapore Bay Run and Army Half Marathon this year, as the Army will be involved in supporting the Singapore Bicentennial commemoration.
— Yahoo News Sg

Singapore increases defense allocation with eye on improving military capability
Singaporean Defense Minister Ng Eng Hen announced a plan to buy up to 12 F-35 warplanes from the US in his Ministry of Defense Committee of Supply debate speech on March 1.
— Global Times

Singapore companies, including rivals, can team up to expand overseas: Heng Swee Keat
Local companies seeking to break into foreign markets must team up instead of treating each other as rivals, Finance Minister Heng Swee Keat said on Friday (March 8).
— Straits Times (annoying popups)

New S$2 million fund launched to help construction firms acquire quieter equipment
Construction firms will soon be able to tap a new S$2 million fund to help them acquire quieter equipment and adopt more innovative building methods.
— Channel NewsAsia (very annoying popups)

Is our union & Manpower Minister protecting our working class?
For younger Singaporeans, many may wonder who or what National Trades Union Congress (NTUC) is all about.
— The Online Citizen

MinLaw seeking public’s views on proposed IP (Dispute Resolution) Bill
THE Ministry of Law (MinLaw) is seeking public feedback on a draft Intellectual Property (IP) (Dispute Resolution) Bill, consultations of which will conclude on April 5, 2019.
— The Business Times

Citi to launch electronic currency trading platform in Singapore
Citigroup is planning to join UBS with an electronic currency trading and pricing platform in Singapore, setting up systems to boost liquidity in Asia’s biggest foreign exchange (FX) hub.
— Straits Times (annoying popups)

Netizens criticise the government for cancelling Watain’s concert at the last minute, despite its initial approval
On 9 March (Saturday), Home Affairs Minister K Shanmugam revealed that he don’t understand how the Swedish black metal band Watain could have been allowed to perform in Singapore given the band’s anti-Christian song lyrics.
— The Online Citizen

Which markets face the most risks as frontiers drown in debt?
With a steady build-up of public debt becoming increasingly held by private creditors, frontier markets (FMs) are outpacing their emerging market (EMs) counterparts to become more and more vulnerable to global financial shocks.
— The Edge Singapore

“We no longer believe you” – Singaporeans criticise Tan Chuan-Jin’s claim that Budget 2019 was not an ‘election budget’
Several Singaporeans have criticised Speaker of Parliament Tan Chuan-Jin’s claim that Budget 2019 is not an ‘election budget’.
— The Independent

Churches and Christian leaders laud Government’s decision to cancel Watain concert
The National Council of Churches of Singapore (NCCS) issued a letter thanking the Government for cancelling the concert of Swedish black metal band WATAIN just hours before it was scheduled to be held on March 7.
— The Independent

Doctors rally against Singapore Medical Council ruling to fine psychiatrist $50,000, MOH looking into it
Following an outcry from the medical community, the Ministry of Health (MOH) is looking into the Singapore Medical Council (SMC) decision to fine a psychiatrist S$50,000 for failing to maintain patient confidentiality.
— The Online Citizen

First batch of SAF army recruits graduate after lifting of safety time-out
After finishing a 12-kilometer march, the Singapore Armed Forces’ (SAF) latest recruits graduated on Saturday, March 9, 2019. Some 3,500 soldiers from the Basic Military Training Centre attended the parade at the Marina Bay floating platform.
— The Independent

Parliament would not have made provisions for Merdeka Generation Package if this was an “election Budget”: Speaker Tan Chuan-Jin, on criticisms against Budget 2019
In light of calls for the Government to devise “more universal and permanent schemes” for Singaporeans instead of what some have dubbed as temporary schemes tailored to lure in voters before every General Election, Speaker of Parliament Tan Chuan-Jin said that contrary to such opinions, the Government already has a history of implementing such long-term schemes in the past.
— The Online Citizen

Doctor at heart of HIV data leak claims he lied to police to ‘retaliate’ against MOH ‘discrimination’
A doctor at the centre of the HIV data leak from Singapore’s registry told the High Court on Monday (Mar 11) he had lied to the police in 2016 when he admitted to cheating offences.
— Channel NewsAsia (very annoying popups)

Free medicine delivery for SingHealth patients until June 30; $8 afterwards
Patients at hospitals, polyclinics and some specialist centres under the SingHealth group of healthcare institutions can now get their prescription medication delivered.
— Straits Times (annoying popups)

Court dismisses appeal for intellectually disabled teen who raped schoolmate to be jailed, caned
The Court of Appeal on Monday (Mar 11) dismissed a bid by prosecutors to send an intellectually disabled teenager to prison and caning after he raped and sexually attacked his schoolmate.
— Channel NewsAsia (very annoying popups)

Hong Kong, Singapore, Asia’s Best Should Empower Women and Promote Equality
Considering the stature of wealthy nations like Singapore and Hong Kong, their corresponding governments are in better position to institute and influence change across the region regarding essential issues.
— The Independent

National Day Rally 2019 to be held on Aug 18
Prime Minister Lee Hsien Loong will deliver the National Day Rally speech on Aug 18 this year, said the Prime Minister’s Office on Monday (Mar 11).
— Channel NewsAsia (very annoying popups)

Student wins PR award for breastfeeding campaign
The 15th Institute of Public Relations (IPRS) PRISM Awards on March 7, 2019 (Thursday). Held at the Mandarin Oriental Hotel, the 15th PRISM 2019 had a record-breaking number of entries and nominations for its 32 categories which included eight new categories showcasing the the competencies of PR and Communication organisations within the country.
— The Independent

US rate hike pause priced into banking stocks, says CGS-CIMB
CGS-CIMB Research says current bank valuations have priced in downside risks of a pause in US Federal Reserve rate hikes on sector earnings.
— The Edge Singapore

Appointment of the new Auditor-General is a conflict of interest, says public on TOC’s poll results
On 28 February (Thursday), Worker’s Party’s MP Sylvia Lim questioned in Parliament if the appointment of the new Auditor-General is a conflict of interest. This is because the newly hired Auditor-General Goh Soon Poh is the wife of Senior Minister of State for Defence Heng Chee How.
— The Online Citizen

Two new media literacy resources to teach youth how to spot fake news
At this digital arts workshop, there are no crayons and paper. Instead, participants create drawings on iPads, and also pick up media literacy skills along the way.
— Today Online

Ready-to-eat meals that can be kept up to 24 months part of Sats’ $25m investment to produce more, reduce waste
To reduce waste, Sats, a major player in the food industry and Changi Airport’s main airline caterer, has invested in new technology to extend the shelf life of cooked food, which, as a result, helps to cut wastage.
— Straits Times (annoying popups)

SATS plans to tap ready-to-eat meals business
SATS plans to tap the rising demand for ready-to-eat meals.
— The Edge Singapore

Singapore for First Time Traveler: A no-fuss guide to exploring the “Lion City”
Everyone knows that Singapore is among the top tourist destination in the Asia Pacific region.
— GMA Network

Singapore Contractors Association calls for immediate safety timeout after four worksite-related deaths
The Singapore Contractors Association (SCA) has brought forward its quarterly safety timeout, as it expressed “grave concern” over the recent spate of workplace fatalities at construction sites, it said in a statement on Monday (March 11).
— Straits Times (annoying popups)

Singapore launches blockchain based system for the maritime sector – TradeTrust
The country’s Minister for Communications and Information, Mr S. Iswaran has announced the news in a speech to Singapore’s parliament on March 4, 2019, that Singapore has added the plan to launch a blockchain-based system in its maritime sector called TradeTrust.
— Open Gov Asia

The Singapore way behind the Budget
Give a man a fish and you feed him for a day; teach him how to fish and you feed him for a lifetime.
— Straits Times (paywall)

Workers in salary tussle were not staging protest, did not violate public order laws: Police
The migrant workers who gathered outside the site of the old Central Provident Fund building last week were waiting to talk to their employer about their salary claims and were not staging a protest, the police said.
— Today Online

The alarming language of conflict
My youth was dominated by the Cold War and the war in Vietnam.
— The Edge Singapore

 

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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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Piseth Pov graduated with a Bachelor’s degree in Economics Science from the Royal University of Law and Economics, Phnom Penh in 2017, and a Bachelor’s degree in English Communications from Western University, Phnom Penh, the same year.

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