Singapore morning news for March 27

Singapore morning news for March 27

Singapore morning newsSingapore factory output sees small 0.7 per cent rise in February; January’s drop slashed
Singapore’s manufacturing output grew 0.7 per cent in February compared with last year, thanks to the boost from pharmaceuticals, according to figures from the Economic Development Board (EDB) on Tuesday (March 26).
— Straits Times (annoying popups)

Duty-free allowance for liquor revised to two litres from 1 April 2019
Arriving travellers and returning Singaporeans are reminded that the duty-free allowance for liquor will be revised to two litres, down from the current three litres, from 1 April 2019.
— The Online Citizen

Wirecard says some Singapore employees may face criminal liability
Wirecard has announced that some of its Singapore employees may face criminal liability in connection to an accounting scandal that has rocked the German payments group.
— Financial Times

Singtel targets Millennials with all-digital mobile plan
Singtel has announced the launch of an all-digital mobile service plan targeted at technology-savvy Millennial customers.
— Telecom Asia

Singapore Festival 2019 opens in Hanoi downtown
The Singapore Tourism Board and the Singaporean Embassy in Vietnam on March 23 morning opened the Singapore Festival 2019, the first of its kind, at the pedestrian street around the Hoan Kiem Lake right in the heart of Hanoi.
— NNT

Singapore’s Oxley Holdings taps JLL, CBRE to sell 2 assets
Singapore-based property developer Oxley Holdings has appointed brokerage JLL and its JLL Hotels and Hospitality Group, along with CBRE, to find a buyer for its Novotel and Mercure hotels on Stevens Road in Singapore.
— Hotel Management

Singapore, Australia Fintech Bodies Agree to Collaborate
The SFA (Singapore Fintech Association) and FinTech Australia have signed an MoU to collaborate on developing the fintech industry across the ASEAN region and Australia, according to media reports.
— Regulation Asia

Singapore’s top law firm sees cracks in South-east Asia’s credit markets
Cracks are showing in South-east 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.
— Straits Times (annoying popups)

Singapore’s factory production inches up 0.7% in February
Production in Singapore’s factories inched up 0.7 per cent in February 2019 from a year prior, according to data released by the Economic Development Board (EDB) on Tuesday (Mar 26).
— Channel NewsAsia (very annoying popups)

SDP claims NTUC FairPrice price-freeze is in response to “PAP feeling pressure” from opposition
The Singapore Democratic Party (SDP) has asserted that the recent NTUC FairPrice was initiated by the ruling People’s Action Party (PAP) as a response to the pressure it has been facing from the opposition party.
— The Independent

Solid fundamentals, growth drivers make strong case for investing in India
IN THE lead-up to Indian general elections, we’ve come to expect an increase in populist rhetoric from the political parties vying for power.
— The Business Times

1,000 evacuated due to fire at NUS medicine faculty
A thousand people were evacuated after a fire broke out at the National University of Singapore’s (NUS) medicine faculty building yesterday morning.
— Straits Times (annoying popups)

Investor watchdog questions PUB over purchase price of Tuaspring desalination plant
Investor watchdog Securities Investors Association Singapore (SIAS) has asked PUB to clarify how a zero-dollar purchase price for the Tuaspring Desalination Plant (TSDP) was determined.
— Channel NewsAsia (very annoying popups)

Thinking of starting an e-commerce business? Here’s what you need to know
Despite being a population of active mobile users, more Singaporeans are still preferring to shop online using desktops rather than their smartphones, according to a new report released by Picodi.
— The Edge Singapore

Singapore’s cycling networks to expand over next 5 years
Good news for cycling enthusiasts: the Land Transport Authority (LTA) announced on Tuesday (March 26) that Singapore’s cycling infrastructure will be expanded over the next five years.
— Today Online

Fintech Airwallex joins unicorn club as it raises US$100m in Series C round
Airwallex, a global payments fintech start-up, has raised US$100 million in Series C funding, bringing total capital raised to date to over US$200 million.
— Straits Times (annoying popups)

Singapore listed as 2nd-happiest Asian nation in World Happiness Report
Singaporeans might be stereotyped to be interminable complainers yet they were ranked as the 34th happiest country in the world and the second happiest in Asia after 25th-ranked Taiwan in an annual survey released on Wednesday (March 20).
— The Online Citizen

DBS and SIA tie-up across various digital platforms
DBS Bank and Singapore Airlines (SIA) signed a framework agreement on Tuesday to enable a seamless banking and travel customer experience for travellers by enhancing digital capabilities across various platforms.
— The Business Times

Investors query PUB’s Tuaspring takeover bid
Investors facing huge losses on holdings in Hyflux want answers from the firm and national water agency PUB before they vote on a rescue plan on April 5 that looks increasingly like their last chance of getting anything back.
— Straits Times (annoying popups)

Defence Minister Ng Eng Hen attends Langkawi aerospace exhibition; meets Malaysian counterpart
Minister for Defence Dr Ng Eng Hen met his counterparts from Malaysia and Indonesia on Monday (Mar 26) as part of his visit to the Langkawi International Maritime and Aerospace Exhibition (LIMA 19).
— Channel NewsAsia (very annoying popups)

“Embarrassing!” – Hundreds of netizens blast Khaw Boon Wan for comparing arm fracture to childbirth
Hundreds of netizens have criticised Transport Minister Khaw Boon Wan for comparing the pain he suffered after fracturing his left arm to the pain mothers go through during childbirth.
— The Independent

Local groups call for greater freedom of expression in light of mounting charges against activist Jolovan Wham
A group of Singapore organisations have come together in a letter calling for greater freedom of expression.
— The Online Citizen

Do Socially Responsible Firms Make Better Investments?
Weighing the pros and cons of being socially responsible.
— The Motley Fool

Overkill? Police investigate not one but two men for comments about throwing an egg at the Law Minister
Police investigations over Facebook comments about throwing an egg at Law and Home Affairs Minister K Shanmugam has left netizens divided as to whether such investigations are overkill or appropriate.
— The Independent

SPH launches news tablet app for Chinese news products
Singapore Press Holdings (SPH) has launched a news tablet app that will provide a seamless digital experience with no logins required and auto updates for its Chinese news products, the media company announced on Tuesday (March 26).
— Straits Times (annoying popups)

ST opinion says Ah Seng is not ungrateful just for disagreeing with the Government, and netizens couldn’t agree more
In a typical Parliamentary session, Hokkien is hardly uttered, but when Nee Soon GRC MP Lee Bee Wah mentioned si gui kia to describe ungrateful child, it raised eyebrows among Singaporeans.
— The Online Citizen

Living it up
This is the season for indices. On March 20, Singapore was ranked 34th in the World Happiness Index — less happy than Taiwan, but far more cheery than Hong Kong and China, as well as its neighbours, Thailand, Malaysia and Indonesia.
— The Edge Singapore

Explainer: What caused Manila’s water crisis and why Duterte is asking Singapore for help
Earlier this month, Manila experienced its worst water crisis in a decade after taps ran dry for over two weeks for six million customers of privately owned service provider Manila Water.
— Today Online

Should Best World International Limited Investors Be Worried About Financial Manipulation?
A quick analysis of the quality of Best World International Limited’s (SGX:CGN) earnings.
— The Motley Fool

‘Bomb threat’ on home-bound Singapore Airlines flight from Mumbai: SIA
Singapore Airlines (SIA) said it is assisting authorities with investigations after a bomb threat on Tuesday (Mar 26) on board flight SQ423 from Mumbai to Singapore.
— Channel NewsAsia (very annoying popups)

Former domestic worker of Changi Airport Group chairman sentenced to 26 months’ imprisonment for theft
The former domestic worker of Changi Airport Group chairman Liew Mun Leong was sentenced to 26 months of jail on Mon (25 Mar) after being found guilty on four counts of theft last week.
— The Online Citizen

OCBC still bullish on banking stocks after a lacklustre FY18
OCBC Investment Research remains bullish on Singapore’s banking space while keeping its sector “overweight” with “buy” calls on both DBS and UOB, which have been given fair value estimates of $29.31 and $28.30, respectively.
— The Edge Singapore

‘Bomb threat’ on home-bound SQ flight from Mumbai: SIA
Singapore Airlines (SIA) said it is assisting authorities with investigations after a bomb threat on Tuesday (March 26) on board flight SQ423 from Mumbai to Singapore.
— Today Online

Gardens by the Bay murder trial: Prosecution picks at mental disorder diagnosis
Did Leslie Khoo Kwee Hock, who allegedly killed his lover, suffer from a mental condition called Intermittent Explosive Disorder as diagnosed by a private psychiatrist?
— Channel NewsAsia (very annoying popups)

Nearly 2kg of heroin seized, 7 suspects arrested in CNB operation
Seven suspected drug offenders were arrested and a large assortment of drugs was seized in an operation conducted by the Central Narcotics Bureau (CNB) on Monday night (Mar 25).
— Channel NewsAsia (very annoying popups)

IMDA and PA looking for seniors to help in publicity and get $100 voucher in return
The Infocomm Media Development Authority (IMDA) and the Peoples’ Association Active Ageing Council (PAAAC) are currently looking for Singaporeans or PRs aged 50 and above to sign up as the “Silver Infocomm Wellness Ambassadors” (SIWAs).
— The Online Citizen

First Sponsor plans rights and bonus issues to raise up to $399.3m
Hong Leong-linked property developer First Sponsor Group has withdrawn its initial application for a rights issue involving warrants exercisable into convertible securities, and is now proposing instead to undertake a rights issue involving warrants directly exercisable into shares, along with a bonus issue to raise up to $399.3 million.
— Straits Times (annoying popups)

Video of rock hard Sausage McGriddles on Reddit thread cause for much concern
Singapore – A Reddit Singapore thread that started on March 24 (Sunday) has become the focus of much scrutiny and criticism. User u/Fatgenie uploaded a video of a very hard Sausage McGriddles from McDonald’s which was coined “Sausage McRock.”
— The Independent

Golden Mile Complex up for second en bloc bid at S$800 million
The iconic Golden Mile Complex has been put up for collective sale for a second time.
— Channel NewsAsia (very annoying popups)

Is there a more indispensable and irreplaceable one than Ho Ching?
With Ho Ching stepping down as chairman of Temasek International from 1 April, there are those who speculate that the time might come for her to finally relinquish her all-powerful position as CEO of parent company Temasek Holdings, a role she has held for 15 years.
— The Online Citizen

mm2 Asia cut to ‘hold’ by Maybank despite latest box office showing
Maybank Kim Eng would rather wait for mm2 Asia’s cinema division to make disclosures in its fiscal-year-end reporting before changing its forecasts.
— The Edge Singapore

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

Singapore ghostbusters: Grand Master Chew and Master Jeroen Chew practise age old traditions offering solutions for ‘mysterious’ ailments
Singapore – In 2006, a woman in her 20’s who appeared to be distressed, walking on tip-toes with her tongue sticking out, approached Grand Master Chew Hon Chin asking for help to deal with her problem that’s been recurring for eight years.
— The Independent

Hyflux investors to stage protest at Hong Lim Park this Saturday; SIAS probes Hyflux on status of deal with Salim-led consortium
Disgruntled by Hyflux’s rocky progress in the recent months following its restructuring plan, the homegrown water treatment firm’s investors have decided to take matters into their own hands by planning to stage a protest this Saturday (30 Mar).
— The Online Citizen

McDonald’s US$300m tech deal is its largest in 20 years
McDonald’s Corp, in its largest acquisition in 20 years, is buying a decision-logic technology company to better personalise menus in its digital push.
— Straits Times (annoying popups)

 

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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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