Singapore morning news for March 26

Singapore morning news for March 26

Singapore morning newsSingapore’s Top Law Firm Sees Cracks in Southeast Asia’s Credit Markets
Cracks are showing in Southeast Asia’s credit markets as struggling companies in troubled industries seek to repair their balance sheets, according to Rajah & Tann Singapore LLP, which manages the largest network of corporate lawyers in the region.
— Bloomberg

SMEs keen on transformation amid challenging times
SINGAPORE’s small-and-medium enterprises (SMEs) are looking to invest in their businesses despite expectations that the next six months will bring a weaker economic environment and dent financial performance, according to a survey.
— The Business Times

Fintech start-up gets nod to advise retail investors
A Singapore-based fintech start-up backed by a Chinese counterpart and insurer FWD Group has secured a capital market services licence to offer digital investment advisory services to retail clients here.
— Straits Times (annoying popups)

Singapore and Vietnam to strengthen cooperation in smart city development and digital innovation
Deputy Prime Minister and Coordinating Minister for National Security Teo Chee Hean is in Ho Chi Minh City (HCMC), the third leg of his Official Visit to Vietnam. On 25 March, DPM Teo met HCMC Party Secretary Nguyen Thien Nhan, who also hosted him to lunch.
— Open Gov Asia

Global trade takes sharp turn down with biggest drop since 2009
=Global trade has taken a sharp turn down, reinforcing the view that the world economy is in its worst state since since the financial crisis a decade ago.
— Straits Times (annoying popups)

PM Lee pays tribute to ‘illustrious’ contributions of Ong Pang Boon during birthday celebrations
Prime Minister Lee Hsien Loong on Saturday (Mar 23) paid tribute to the many illustrious contributions to Singapore made by one of the country’s founding leaders, Mr Ong Pang Boon.
— Channel NewsAsia (very annoying popups)

Daggers drawn for Democratic 2020 race
THE potential release to the public of the Mueller report, at least in partial form, may not be the only development shaking up US politics in coming days. For Joe Biden could reportedly make an announcement soon to formally enter the Democratic 2020 race.
— The Business Times

HDB flatowner illegally sublets 4-room flat to 24 tenants, who go unnoticed for 4 years
Twenty-four tenants who were crammed into a single 4-room Housing Development Board (HDB) flat at 403 Pandan Gardens went unnoticed for four years, thanks to the sly rules instituted by a landlord who illegally sublet his flat to four times the maximum number of tenants HDB allows.
— The Independent

SMEs open to business transformation investments amidst souring economic expectations: poll
The manufacturing sector saw the highest uptick in capital investment expectations by 2.15%.
— Singapore Business Review

SMEs keen on investment despite weaker outlook: Poll
Small and medium-sized enterprises (SMEs) in Singapore are looking to invest in their businesses despite expectations of a weaker economic environment and financial performance in the next six months, a survey found.
— Straits Times (annoying popups)

SIAS calls on Hyflux to clarify if rescue deal from Indonesian investors ‘is still on the table’
Recent developments, such as being slapped with a default notice from national water agency PUB, have thrown up uncertainties about the future of Hyflux, and with the clock ticking down to Apr 5 when its restructuring plan will be put to vote, concerns among retail investors have risen.
— Channel NewsAsia (very annoying popups)

Khaw Boon Wan uses his recent injury as a cautionary tale for seniors in Singapore
Transport Minister Khaw Boon Wan described fracturing his left arm was very painful. Speaking at the Women’s Festival 2019 at Kampung Admiralty on Sunday morning (24 March), Mr Khaw said, “I have never experienced so much pain!
— The Online Citizen

Former Ang Mo Kio Town Council general manager, company director plead guilty to corruption charges
A former general manager of Ang Mo Kio Town Council (AMKTC) and a company director accused of bribing him for contracts pleaded guilty on Monday (Mar 25), in a twist of events following weeks of trial.
— Channel NewsAsia (very annoying popups)

Singapore unveils worlds first full size self driving bus
Nanyang Technological University, Singapore, and Volvo Buses have launched the world’s first full size, autonomous electric bus.
— Open GovAsia

Here’s why Singapore couldn’t top global transport satisfaction rankings
Singapore lagged Mumbai and London in the global rankings for transport satisfaction with an index score of 4.21, indicating that Singaporeans are generally displeased with the nation’s transport system, global infrastructure firm AECOM revealed.
— Singapore Business Review

Continued innovation the key to Singapore-US infrastructure tie-up
SINGAPORE’S plan to work with the United States on infrastructure projects across South-east Asia will strengthen the economic corridor, but the success of this tie-up will depend upon continued innovation.
— The Business Times

Chinese minister calls on PM and Heng
The Chinese Communist Party’s Minister of the International Department Song Tao called on Prime Minister Lee Hsien Loong and Finance Minister Heng Swee Keat separately yesterday.
— Straits Times (annoying popups)

In Focus: Singapore, The Reinvention of Co-Living
The Republic of Singapore is a metropolitan city-state and island country in Southeast Asia with a total land area of an estimated 714.3 square kilometres.
— Hospitality Net

AWARE’s report to the UN highlights the urgent need to protect children in Singapore from discrimination and inequality
Leading gender rights organisation, AWARE has called for policies to level the playing field and promote equality among children, such as free childcare for low-income households and an end to discrimination against single-parent or transnational families.
— The Online Citizen

Singapore touts Asia-wide pact
On a visit to Washington, Minister for Trade and Industry Chan Chun Sing said a clearer picture would emerge on the Regional Comprehensive Economic Partnership (RCEP) in May after elections in four countries that are part of it – India, Australia, Indonesia and Thailand.
— The Nation (annoying popups)

Push for liquid eggs scrambled by low consumer demand in Singapore
As part of Singapore’s ongoing efforts to be less reliant on imports for its food supplies, regulators here have made a push for liquid eggs twice in the last 15 years.
— Today Online

New Silkroutes Group sells oil trading division for US$10 million
New Silkroutes Group has sold its entire stake in its oil trading division International Energy Group (IEG) to TK Energy for US$10 million ($13.5 million) in cash.
— The Edge Singapore

Singapore Says ‘Audacious’ Penny Stock Scheme Cheated Goldman
The masterminds of Singapore’s “most audacious” market manipulation scheme cheated Goldman Sachs International and Interactive Brokers LLC as part of a plan that resulted in the 2013 penny-stock crash, prosecutors said as a trial began against the two alleged perpetrators.
— Bloomberg

French coding bootcamp Le Wagon is arriving in Singapore
Le Wagon, a coding bootcamp originally from France, is arriving in Singapore later this year.
— Tech InAsia

Singapore focuses on developments in Indian states
Singapore is the preferred partner of Indian states which are looking for collaborations for developing infrastructure, new cities, urban solutions and renewal, skills development and logistics facilities, Indian ambassador to Singapore Jawed Ashraf said on Monday.
— Business Standard

Sino Grandness selling 170 mil new shares at 4 cents each to JW Capital
Sino Grandness Food Industry has entered into a placement agreement to sell 170 million new shares to JW Capital Group at 4 cents each for 6.8 million.
— The Edge Singapore

NEA’s pay-as-you-throw idea triggers memes and serious debate
One photo showed the white-and-blue Electronic Road Pricing gantry photoshopped onto a rubbish chute with the caption Electronic Rubbish Pricing.
— Straits Times (annoying popups)

Singapore Festival attracts Hanoians
At the culinary area, visitors were able to enjoy foods from ten famous restaurants from Singapore, especially the famous roasted chicken rice with “preferential price”, from Hawker Chan restaurant, which won a Michelin star – the star symbolizing the dream of any chef in the world.
— Nhandan Org

National Wages Council seeks public feedback on wage and employment-related issues
People with feedback on wages and employment-related issues can submit it for the National Wages Council to consider as it develops annual guidelines on these matters.
— Straits Times (annoying popups)

Singapore video publishing startup bags $4.5m from Kickstart Ventures, others
Singapore-based video publishing platform iVideoSmart (IVS) has raised US$4.5 million in a series A+ round led by Philippine venture capital firm Kickstart Ventures.
— Tech InAsia

Changi Airport Group Vice President Poh Li San is keen on standing for the next general elections as PAP candidate
Changi Airport Group Vice President for Terminal 5 Planning, Future Systems, Poh Li San that she would gladly serve Sembawang residents as a People’s Action Party politician if given the chance.
— The Online Citizen

Hyflux investor plans Saturday protest at Hong Lim Park
A protest against Hyflux’s restructuring plan and recent developments surrounding the embattled water treatment firm has been planned for Saturday (Mar 30) afternoon at the Speakers’ Corner in Hong Lim Park.
— Channel NewsAsia (very annoying popups)

Singapore-Germany Defense Ties in Focus with Military Exercise
Engagement highlights the security aspect of collaboration between the two countries.
— The Diplomat

Public member complains $200 Medisave top-up not enough but Masagos says not to burden future generations
Government feedback and engagement agency REACH yesterday (24 Mar) said that more than 80 per cent of Singaporeans supported the Merdeka Generation Package announced in this year’s Budget.
— The Online Citizen

Singapore focuses on developments in Indian states
Singapore is the preferred partner of Indian states which are looking for collaborations for developing infrastructure, new cities, urban solutions and renewal, skills development and logistics facilities, Indian ambassador to Singapore Jawed Ashraf said on Monday.
— Business Standard

Keppel said to consider Shanghai tower purchase
An arm of Singapore’s Keppel Corp. is considering buying twin buildings on the banks of Shanghai’s Huangpu River from Dalian Yifang Group Co., people familiar with the matter said.
— The Edge Singapore

Former GM of AMKTC, along with co-conspirator, plead guilty to corruption charges
The former general manager and secretary of Ang Mo Kio Town Council (AMKTC) Wong Chee Meng, along with his co-conspirator, Omar Chia Sin Lan, have both pleaded guilty to charges of corruption involving the running of the town council on Monday, March 25.
— The Independent

Singapore’s core inflation eases to 1.5% in February
Singapore’s February core inflation rate eased to 1.5 per cent from a year earlier, its lowest in nine months, due to smaller increases in the cost of services, retail items as well as electricity and gas, said the Monetary Authority of Singapore and the Ministry of Trade and Industry in a joint release on Monday (Mar 25).
— Channel NewsAsia (very annoying popups)

Inflation in February edges up to 0.5 per cent, slightly less than expected
Smaller declines in private road transport and accommodation costs caused headline or overall inflation to go up slightly to 0.5 per cent year on year in February, up from 0.4 per cent in the previous month, data released on Monday (March 25) showed.
— Straits Times (annoying popups)

Scoot flight to Taipei experiences drop in cabin pressure, oxygen masks activated
On March 24 (Sunday), the oxygen masks on Scoot flight TR966 from Singapore to Taipei were activated while 37,000 ft above ground level.
— The Independent

Mandarin Gardens en bloc bid grinds to a halt, after failing to get 80% approval from owners
Mandarin Gardens has failed in its en bloc attempt, about a month after raising its asking price to a record S$2.9 billion.
— Channel NewsAsia (very annoying popups)

SGH ranked world’s top-10 but S’poreans pay highest in medical out-of-pocket expenditure
It was reported that the Singapore General Hospital (SGH) has been ranked as the third-best hospital in the world by Newsweek magazine, partly for its clinical research and “outstanding nursing”, following two American hospitals, the Mayo Clinic and Cleveland Clinic.
— The Online Citizen

Slowdown more likely than global recession, says Oxford Economics
The global economy may continue to slow down in the near term but the world will probably dodge a recession this year unless it is hit by big shocks or serious policy errors, says Oxford Economics.
— The Edge Singapore

Public invited to share views on wage, employment issues ahead of annual salary guidelines: NWC
Members of the public can share their views on wage and employment issues with the National Wages Council (NWC) until Apr 15, the tripartite body said on Monday (Mar 25), adding that it will convene in April and May to develop its annual guidelines.
— Channel NewsAsia (very annoying popups)

3 Singapore REITS That Have Grown Their Dividends Every Year for the Last 5 Years
First Real Estate Investment Trust (SGX:AW9U), Frasers Centrepoint Trust (SGX:J69U), and Mapletree Industrial Trust (SGX:ME8U) have grown their dividends over the years.
— The Motley Fool

More cases of active tuberculosis last year
There were 1,565 cases of active tuberculosis (TB) in Singapore last year, 29 more than the 1,536 cases in 2017, said the Ministry of Health (MOH) in a statement on Sunday.
— Straits Times (annoying popups)

Boustead Projects JV to develop aerospace and high-tech park in Subang Aerotech Park
Boustead Projects is jointly developing an aerospace and high-tech park in the Subang Aerotech Park which will be leased to corporations in the aerospace industry when completed.
— The Edge Singapore

Khaw says it’s miserable to Govt when one stays in hospital because of subsidies but yet SG subsidises the least
At a grassroots event yesterday (24 Mar), Transport Minister Khaw Boon Wan shared his experience about his fall at home, which broke his left arm. He said the accident happened at around midnight while in bed, when he wanted to go to the toilet.
— The Online Citizen

Singtel announces one year of Amazon Prime, new all-digital mobile plan
Singtel announced a tie-up with Amazon Prime on Monday (Mar 25), as well as a new all-digital mobile plan priced at S$20 a month.
— Channel NewsAsia (very annoying popups)


Feature photo 5477687


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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