Singapore morning news for March 22

Singapore morning news for March 22

Singapore morning news

Singtel well positioned to weather competition, looking cheap at current prices: UOB Kay Hian
UOB Kay Hian is maintaining its “buy” call on Singtel with a target price of $3.58, while highlighting that the stock, at the price of $3.02, is currently below its mean EV/EBITDA with a 5.8% dividend yield.
— The Edge Singapore

MAS clamps down hard on money laundering and financial services breaches, according to latest Enforcement Report
Money laundering, market abuse, and financial services misconduct were the three key areas of targeted by the Monetary Authority of Singapore (MAS) in its probe against breaches of the Authority’s regulations, as revealed in its latest Enforcement Report on Tue (19 Mar).
— The Online Citizen

Another cyber threat to Singapore government data revealed
The Government Technology Agency (GovTech), Ministry of Education, Ministry of Health, Singapore Police Force and National University of Singapore’s learning management system are among those affected sites.
— Open GovAsia

PUB ready to take over desalination plant at zero dollars if Hyflux’s Tuaspring does not resolve defaults
National water agency PUB said on Thursday (Mar 21) it will terminate the water purchase agreement with Hyflux subsidiary Tuaspring Pte Lte (TPL) and start taking over its desalination plant, if the company does not remedy its defaults by Apr 5.
— Channel NewsAsia (very annoying popups)

Singapore and Malaysia should start building more ‘political, goodwill bridges’: ESM Goh
Singapore and Malaysia should start building more political and goodwill bridges between their leaders and peoples, said Emeritus Senior Minister Goh Chok Tong.
— Straits Times (annoying popups)

30 by 30: Boosting food security in land-scarce Singapore
In an effort to improve its food security, Singapore has set its sights on increasing its food production capabilities by threefold over the next ten years.
— Asean Today

Singapore companies turn to student housing for returns
More Singapore companies are investing in student accommodation, drawn by the property subsector’s relative independence from the factors that drive returns in other types of real-estate such as malls and offices.
— Nikkei Asian Review (paywall)

There’s definitely something about summertime that makes us want to try new things. By new things we mean something high, something thrilling, something heart stopping, something that would make us feel more alive.
— Khmer Times

Woman bequeathed $162,000 to Straits Times School Pocket Money Fund
Before Ms Johanna Makkink died at the age of 65 in 2016, she bequeathed a portion of her estate to The Straits Times School Pocket Money Fund (STSPMF).
— Straits Times (annoying popups)

Guan Eng: Third Malaysia-Singapore bridge needed
Finance Minister Lim Guan Eng today backed Prime Minister Tun Dr Mahathir Mohamad’s proposal for additional bridges between Malaysia and Singapore.
— Malay Mail

Singapore hopeful for China-backed Asia trade pact this year
Singapore’s trade minister has that he was hopeful that an Asia-wide trade pact, which is backed by China and excludes the United States, could be sealed by the end of the year.
— Business Standard

Singapore and Australia fintech associations sign MoU
The MoU was signed at the ongoing Money20/20 Asia, a conference held in Singapore discussing Payments, Financial Services and FinTech.
— Fin Extra

Tembusu to launch at least $205.6 mil in China funds; ex Capitaland CEO to chair advisory board
Singapore-based private equity firm Tembusu Partners announced it will be launching several investment funds totalling about RMB 1.0 billion ($205.6 million) after securing the first Qualified Foreign Limited Partner (QFLP) status awarded to a foreign fund management firm in China’s Guizhou Province.
— The Edge Singapore

Confucius Institute launches book that examines writing styles in Singapore and China
When using the Chinese language, Singaporeans tend to add a dash of English expressions or a hint of dialect in their correspondence with Chinese businessmen or officials and this can make their writing hard to understand.
— Straits Times (annoying popups)

World Happiness Report: Singapore number 2 in Asia, its citizens remain skeptical
The recently released 7th World Happiness Report revealed that Singapore was the second happiest Asian nation. Finland topped the list of 156 countries ranked in this year’s report which was conducted by the United Nations Sustainable Development Solutions Network.
— The Independent

Singapore gets first guilty plea in $8b penny stock scheme
Key accomplice Goh Hin Calm was sentenced to 36 months imprisonment by Singapore’s High Court.
— Singapore Business Review

Why Singapore’s Wealthiest Are Backing This Lawyer In The Fight Against Childhood Cancer
“It all started when my son had leukemia at 3 years old,” says Jennifer Yeo. “They gave him less than a 10% chance to survive.”
— Forbes

Investigations on 1MDB still ongoing in Singapore: MAS
There are ongoing investigations into other financial institutions and individuals suspected of being involved in the 1Malaysia Development Bhd (1MDB)-related offences, according to the Monetary Authority of Singapore (MAS).
— The Edge Singapore

Singapore’s data centre market at a crossroads
THE data centre footprint in Singapore now stands at 400 megawatts, having grown substantially over the last few years to become a hub of activity from both local and global players.
— The Business Times

SGH beats Johns Hopkins and University of Tokyo hospitals in world ranking
Singapore General Hospital (SGH) has been ranked the third-best hospital in the world by Newsweek magazine, in part for its clinical research and “outstanding nursing”.
— Straits Times (annoying popups)

Can Singapore Eliminate the Stigmas in Its Secondary Education?
Phasing out “streaming” is a good step, but there are still questions about how students will be viewed by their peers and society.
— The Diplomat

Till sickness do us part
It was turning into a long-drawn-out ordeal. For six weeks, Angeline Yong’s septuagenarian father had complained of pain in his stomach, but doctors at the GP clinics simply sent him home with instructions to “eat more regularly”.
— The Edge Singapore

Gardens by the Bay murder trial: Accused says he’d have a ‘better plan’ if he intended to kill lover
If he had intended to commit murder, he would not have gotten caught as he would have had a proper plan.
— Straits Times (annoying popups)

Singapore companies turn to student housing for returns
More Singapore companies are investing in student accommodation, drawn by the property subsector’s relative independence from the factors that drive returns in other types of real-estate such as malls and offices.
— Asia Nikkei Review (paywall)

Ask the travel expert: What to do when on a 4-day vacay to Singapore?
If you intend to do a four-day trip, then you can stay in Sentosa Island for two nights and spend the other two in Singapore.
— Economics Times

Login details of Singapore government email accounts found in ‘illegal data banks’
The logins and passwords of about 50,000 Singapore government email accounts were found in “illegal data banks” in January but most were outdated or bogus addresses, said authorities on Thursday (Mar 21).
— Channel NewsAsia (very annoying popups)

Ministerial salary-earning labour chief draws flak for claiming his household saves 25% on grocery bills with FairPrice products
Ministerial-salary earning labour chief, Ng Chee Meng, has drawn criticism after he claimed that his household saves 25 per cent on their grocery bills by opting for FairPrice house brand products.
— The Independent

Singapore and Malaysia should start building more ‘political, goodwill bridges’: ESM Goh
Singapore and Malaysia should start building more political and goodwill bridges between their leaders and peoples, said Emeritus Senior Minister Goh Chok Tong.
— Straits Times (annoying popups)

Teo Chee Hean: Streaming initiated in the past to ensure that children completed their education
Deputy Prime Minister Teo Chee Hean recently spoke on the issue of streaming at the 1000 Enterprises and 1000 Philanthropists for Children-in-Need Appreciation Dinner held on Tuesday (19 March) by the Singapore Children’s Society.
— The Online Citizen

Passwords and usernames of staff from MOH, MOE and other agencies stolen and put up for sale by hackers
E-mail log-in information of employees in several government agencies and educational institutions, as well as details of more than 19,000 compromised payment cards from banks here, have been put up for sale online by hackers.
— Straits Times (annoying popups)

Two Singapore consortia to develop, trial driverless road cleaning vehicles
TWO consortia in Singapore will be undertaking the design, development and trial of driverless vehicles for road cleaning, having been awarded research and development projects by the National Environment Agency (NEA) and the Ministry of Transport (MOT).
— The Business Times

Latest data: Number of foreign PMETs continues to increase in Singapore
Last week, the Manpower Ministry (MOM) finally released its foreign workforce numbers. The figures show that even though the number of foreign PMETs on Employment Pass (EP) decreased slightly in the last 2 years from 192,300 to 185,800, the total number of foreign PMETs on EP and S Pass hit a total of 381,300 by the end of last year, with no sign of abating.
— The Online Citizen

Upholding high academic achievements a ‘crucial factor’ in Singapore’s success: PM Lee
Mr Lee, who was speaking on Thursday (Mar 21) at a gala dinner celebrating the 100th anniversary of Hwa Chong Institution, also said upholding high academic achievements must remain a focus of Hwa Chong’s.
— Channel NewsAsia (very annoying popups)

New guidelines to rein in ‘pushy’ commercial fund-raisers
For the first time, the Commissioner of Charities (COC) has come up with a comprehensive set of guidelines for commercial fund-raisers, whose staff solicit donations for charities on the streets, to bring about a “more trust-worthy and safer giving environment”.
— Straits Times (annoying popups)

Prosecutors: S$10-15K fine for Jolovan Wham and jail time for SDP’s John Tan Liang Joo over controversial Facebook post
The Attorney-General’s Chambers (AGC) have made known what sentences they are seeking for Jolovan Wham and John Tan Liang Joo over their controversial Facebook posts.
— The Independent

Dyna-Mac clinches fabrication contracts for $150 mil from long-standing customers
Dyna-Mac Holdings announced that it has secured several fabrication contracts worth about $150 million from its long-standing customers.
— The Edge Singapore

Spike in number of measles cases in first 11 weeks of 2019
The number of measles cases in Singapore in the first 11 weeks of this year was more than triple that of the same period last year, the Ministry of Health (MOH) said on Thursday (Mar 21).
— Channel NewsAsia (very annoying popups)

Ex-Singapore PM suggests cost-benefits study of bridges, wants more goodwill links
Singapore’s Emeritus Senior Minister Goh Chok Tong has suggested a study on the cost-benefits of building more physical bridges between Malaysia and Singapore and for the two countries, in the meantime, to build “more political, goodwill bridges”
— Malay Mail

Customers wait in line for over 3 hours for service at Kaki Bukit POSB Branch
It appears that customers visiting the Kaki Bukit POSB branch have to wait for hours just to be served at the counter. Pictures shared by one netizen, that show long lines of customers waiting for service at the branch, have been trending online.
— The Independent

Build more political, goodwill bridges between Singapore and Malaysia: ESM Goh
Singapore and Malaysia should build more political and goodwill bridges, Emeritus Senior Minister Goh Chok Tong said on Thursday (Mar 21).
— Channel NewsAsia (very annoying popups)


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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