Singapore morning news for March 21

Singapore morning news for March 21

Singapore morning news

Singapore awaiting supporting documents for Sri Lanka’s extradition request
Singapore is waiting for certain documents and information before it can consider Sri Lanka’s request to extradite its former central bank chief Arjuna Mahendran.
— Straits Times (annoying popups)

Singapore exports recover but too early to cheer: Maybank
Singapore’s exports recovered in February following three straight months of decline but Maybank Kim Eng thinks it is still too soon to call this an inflection point.
— The Edge Singapore

White smoke from train at Buona Vista Station due to air-con refrigerant leak: SMRT
White smoke that was seen wafting out from a train at Buona Vista Station on Wednesday morning (March 20) was due to an air-conditioner refrigerant leak, said SMRT.
— Straits Times (annoying popups)

Govt intends to seize Hyflux’s Tuaspring plant, Salim Group to reconsider company takeover
Following the Singapore government’s recent plans to seize Hyflux’s Tuaspring desalination plant, Salim Group has announced that it may change its decision to bailout the troubled homegrown water treatment firm from its massive debts through the company’s restructuring plan.
— The Online Citizen

Double standards in ban
The issue of work passes is a contentious one in Singapore. There has been debate in relation to foreigners entering the country and questions in relation to the transparency of the laws and regulations governing this.
— The Online Citizen

Heng Swee Keat claims there is still value in HDB flats with less than 40 years left on the lease
Finance Minister Heng Swee Keat asserted that there is still value in HDB flats with less than 40 years left on the lease, at the annual PropNex conference on Tuesday (19 Mar).
— The Independent

MAS scores, sets benchmark for others
THE Monetary Authority of Singapore’s (MAS) first-ever enforcement report lifts the veil on certain key aspects of how it polices the financial markets under its charge, and is a welcome indicator of the greater openness the market has long sought.
— The Business Times

Sea Asia 2019 to Discuss Key Issues Facing Maritime in Today’s Changing Landscape
Sea Asia 2019, Asia’s anchor maritime and offshore conference and exhibition, is set to host more than 15,000 attendees from over 80 countries and regions this 9 – 11 April in Singapore.
— AEC News Today/PR Newswire (press release)

Chart of the Day: Singapore’s VC investments hit $6.65b in 2018
This chart from the Singapore Venture Capital & Private Equity Association (SVCA) shows that venture capital investments into Singapore-based portfolio companies or Singapore-based holding companies ballooned from $1.81b (US$1.34b) in 2014 to $6.65b (US$4.92b) in 2018.
— Singapore Business Review

Singapore rejects Sri Lankan leader’s allegation on trading scam suspect
Singapore rejected Wednesday Sri Lankan President Maithripala Sirisena’s allegation it was sheltering a former central bank chief wanted for fraud, saying Colombo failed to provide documents to support its extradition request.
— The Jakarta Post

Singapore Gets First Guilty Plea in S$8 Billion Penny Stock Scheme
Singapore meted out its first jail sentence for an October 2013 penny-stock rout, which the prosecutor said was caused by the “most audacious, extensive and injurious market manipulation scheme ever” in the city state.
— Bloomberg

MAS’ efforts to deter financial criminals pay off
In an effort to maintain and burnish Singapore’s reputation as a financial centre, the authorities have been keeping potential white-collar criminals in line with warnings, reprimands and the occasional prosecution.
— Straits Times (annoying popups)

What’s in the New Malaysia-Singapore Maritime Dispute Freeze?
The move spotlighted efforts by both sides to try to manage renewed disputes within their wider bilateral relationship.
— The Diplomat

Parents send clemency petition for son’s life to Singapore president
The parents of Malaysian Michael Garing have sent a clemency petition for their son’s life to the republic’s president.
— The Star Online

Singapore job-seekers deterred by low pay, shift work and physically strenuous work in non-PMET jobs, MOM study finds
When hunting for jobs, there are a multitude of factors to consider – and while a job opportunity is always great, there are some conditions that may make you change your mind about even applying at all.
— Business Insider

Singaporean woman’s husband in intensive care after mosque attack
The Turkish husband of a Singaporean woman is reportedly in intensive care after he was shot at one of the two mosques targeted in an attack that killed 50 people in Christchurch, New Zealand, last Friday.
— Asia One

Dr M on Malaysian to be executed in Singapore: Some feel death sentence is too harsh
The government is trying to save a Malaysian from being sent to the gallows in Singapore because some Malaysians view the death sentence as too harsh a punishment, says the Prime Minister.
— The Star Online

Liew Mun Leong’s ex-maid found guilty of stealing items worth over S$30,000
There was no reason the family of Changi Airport Group chairman Liew Mun Leong “would conspire to frame” their domestic helper for theft, a District Judge said as she delivered the verdict for a 19-day trial which began nearly a year ago.
— Today Online

Singaporean questions why MAS is still investigating 1MDB case when the matter is already before the courts
A Singaporean has asked why the nation’s central bank, the Monetary Authority of Singapore (MAS), is still investigating the 1 Malaysia Development Berhad (1MDB) case when the matter is already before the courts in Malaysia.
— The Independent

Channel NewsAsia wins best environment story at Asian Environmental Journalism Awards
Fifteen journalists and media outlets were on Wednesday (Mar 20) recognised for their outstanding reporting on environment-related issues at the Asian Environmental Journalism Awards.
— Channel NewsAsia (very annoying popups)

New report suggests that Singaporeans agree climate change is a major concern but do not feel they can make a difference
A new report on the Singapore public’s opinion on climate change shows that the vast majority of Singaporeans understand that manmade climate change is an urgent and serious matter, and they feel a strong responsibility to act.
— The Online Citizen

Pound slides as EU resists Theresa May’s three-month Brexit extension
Sterling fell sharply on Wednesday (March 20) after British Prime Minister Theresa May asked the European Union to delay Brexit until June 30 and Brussels immediately pushed back.
— Straits Times (annoying popups)

Singapore Mint launches Bicentennial-themed medallions, banknote replicas
The Singapore Mint has launched a range of Bicentennial-themed collectibles, including medallions and banknote replicas, to mark 200 years since Sir Stamford Raffles landed in Singapore.
— Channel NewsAsia (very annoying popups)

Singaporeans circulate petition to ban Nas Daily from entering Singapore
Several Singaporeans have signed a petition to ban prominent social media influencer Nuseir Yassin – also called Nas Daily after his highly popular daily 1-minute video series – from entering Singapore, hours after it was announced that Nas and his team are moving to Singapore.
— The Independent

Calls to Aware’s women’s helpline went up 32 per cent in 2018
The Association of Women for Action and Research (Aware) saw a 32 per cent jump in calls made to its Women’s Helpline last year.
— Today Online

Banks, brokerages incurred over $350 million in losses from penny stock crash
Banks, brokerages and other financial institutions suffered a total of more than $350 million in unpaid losses in the wake of the October 2013 crash of Blumont Group, LionGold Corp and Asiasons Capital (now known as Attilan Group), according to prosecutors.
— The Edge Singapore

Heng Swee Keat’s story about old HDB flats shows he is grasping at straws
The government narrative for decades was that HDB flats would continue to grow in value, giving Singaporeans peace of mind as a golden retirement nest egg.
— The Online Citizen

New poll shows nearly 2/3 of Singaporeans believe SAF is not open enough about training injuries and deaths
A new poll shows that a majority of Singaporeans–61 percent of the respondents–think that the country’s armed forces have not been sufficiently open when it comes to injuries and deaths that are related to National Service training.
— The Independent

Members of public say MOM’s statement that retrenchment in Singapore is at 7-year low last year is fake
Based on a data released by the Manpower Ministry (MOM), the overall employment growth in 2018 was the highest since 2014, with retrenchments down to the lowest level since 2011.
— The Online Citizen

Shanmugam gives speech at RRG to reaffirm Singapore’s tough, unapologetic stance against hate speech
Despite some critics’ opinions that Singapore’s stringent laws to curb hate speech would stifle people’s rights and freedom of speech, the Republic will not be backing down on its approach in preventing the normalisation of hateful commentary.
— The Online Citizen

Court reserves judgment on contempt of court sentences against Jolovan Wham, SDP’s John Tan
Activist Jolovan Wham and Singapore Democratic Party’s John Tan will have to wait to find out their sentences after both men were convicted of contempt of court.
— Channel NewsAsia (very annoying popups)

Academic grades give no assurance of a PMET job in business and ICT
Graduates need to work on their software and interpersonal skills if they want to land Professionals, Managers, Executives and Technicians (PMET) jobs in Singapore.
— The Independent

Irish trade mission wraps up whirlwind Singapore tour with Brexit looming
FOUR Irish companies have pledged to set up new offices here to strengthen their Asian footprint, during a two-day trade and investment mission to Singapore.
— The Business Times

Pop-up food market for the needy to ‘shop’ for fresh produce
Mr Eng Ah Tee, who works as a cleaner, was part of a 100-strong crowd that had gathered outside the Teck Ghee Community Centre on Wednesday morning (March 20), to get their hands on free fresh produce at a pop-up food market.
— Today Online

Choice of Raffles Medical’s slow and steady expansion, IHH’s fast-growth footprint or earning yield from a REIT
Investors do not appear to have much choice if they wish to have exposure to the local healthcare sector.
— The Edge Singapore

Heng Swee Keat: Value of HDB flats will not be a loss even with 40 yrs lease left
Recently, Finance Minister Heng Swee Keat addressed the issue of the new 99-year-lease Housing and Development Board (HDB) flats which has been generating scepticism from the public due to its rental aspect.
— The Online Citizen

Several growth opportunities lined up for Netlink NBN in near-term
OCBC Investment Research is maintaining its “buy” call on Netlink NBN Trust (NLT NBN) with an unchanged fair value estimate of 90 cents.
— The Edge Singapore

COE prices close mostly higher after March 20 bidding exercise
Certificate of Entitlement (COE) prices closed mostly higher at the end of the latest bidding exercise on Wednesday (March 20).
— Today Online

MAS lays out enforcement actions, priorities in inaugural report
By purchasing shares of Wilton Resources near the close of trading hours, Mok Piak Liang managed to artificially inflate the share price of the gold exploration and mining firm by between 5.9 per cent and 22.8 per cent on 13 trading days in 2014.
— Channel NewsAsia (very annoying popups)

COE prices close mostly higher in latest bidding exercise
Certificate of Entitlement (COE) premiums closed mostly higher in the latest bidding exercise on Wednesday (Mar 20).
— Channel NewsAsia (very annoying popups)

How much longer will CPIB take to investigate the Keppel case that brought so much disrepute to Singapore?
“How much longer will it take for the CPIB to continue investigations on a case that has brought much disrepute to Singapore?”
— The Independent

Minister Ng: My household saves 25% on grocery bills by buying FairPrice house brand products
It was reported in the media yesterday (19 Mar) that NTUC FairPrice has pledged to freeze the prices of 100 FairPrice house brand products for the next 15 months till June next year, so as to “help moderate the rising cost of living and protect shoppers from price fluctuations”.
— The Online Citizen


Feature photo Changi Airport

This week’s Singapore morning news feature photo acknowledges International Day of Forests, March 21.


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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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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