Singapore morning news for March 28

Singapore morning news for March 28

Singapore morning news

Singapore to have more CBD living, go underground to free space
The garden city of Singapore wants to be even more green. It also wants more homes in its central business district, and plans to move facilities underground to free up living space.
— The Edge Singapore

Singapore Will Invest S$724 Million in Technology Transformation
Singapore will allocate S$724 million ($535 million) under a current plan to transform its economy into one that relies more on fields such as research and on companies that create new markets and jobs.
— Bloomberg

Smart City adoption needs tailored approach
BRING up the term “Smart Nation” anywhere in Singapore and, quite possibly, most people would associate it with government initiatives such as the SGQR code and SingPass mobile. Chances are that you will hardly find two people describe “Smart Nation” in the same way.
— The Business Times

Vietnam – Singapore Cooperation Centre inaugurated in Hanoi
The Vietnam – Singapore Cooperation Centre was inaugurated in Hanoi on March 23 morning, in the witness of visiting Singaporean Deputy Prime Minister and Co-ordinating Minister for National Security Teo Chee Hean and Minister of Science and Technology Chu Ngoc Anh.
— NNT

Digital tech, food security among key areas to get more R&D funding
Following a mid-term review of its five-year science and technology plan, Singapore will pump in more money to boost research and development (R&D) efforts in three key areas, namely digital technologies, cell therapy manufacturing and food security.
— Channel NewsAsia (very annoying popups)

MAS can give much needed boost to Singapore equity markets
THE Monetary Authority of Singapore (MAS) should consider emulating the equity investment strategies of the Bank of Japan (BOJ) and Swiss National Bank if it seeks to revitalise Singapore’s troubled equity capital markets, amid concerns about their future.
— The Business Times

URA’s Draft Master Plan: Conversations critical to shaping a future Singapore
What is a home if Singaporeans play no part in building it?
— Straits Times (annoying popups)

Singapore Plans to Move Facilities Underground to Free Space for Housing
The garden city of Singapore wants to be even more green. It also wants more homes in its central business district, and plans to move facilities underground to free up living space.
— Bloomberg

SGX buys 20% stake in FX trading platform for US$25 mil
As part of its efforts to strengthen its multi-asset exchange strategy, the Singapore Exchange has acquired a 20% stake in BidFX for US$25 million ($33.8 miillion) in cash.
— The Edge Singapore

Some S’pore employees may be criminally liable: Wirecard
Some employees of Wirecard’s Singapore subsidiaries may be liable for criminal wrongdoing, the German payments giant said.
— Straits Times (annoying popups)

SIA’s 3.03% bonds a hit with investors, upsized to S$750m
SINGAPORE Airlines’ (SIA) S$500 million 3.03 per cent five-year bonds have been upsized to S$750 million following strong demand from investors.
— The Business Times

56% of Singapore residents don’t want Nas Daily to come to Singapore: Poll
A poll conducted by Yahoo Singapore shows that 56 per cent of 3,961 respondents do not welcome prominent social media Nas Daily’s impending move to Singapore.
— The Independent

Loading a video on Singapore’s 4G networks takes less than 3 secs, and the experience is a lot better than in other countries
If you’re the kind of person that can’t stand long video loading times, you should thank heavens you live in sunny Singapore.
— Business Insider

ST Education Forum to debate entrepreneurship
Entrepreneurs are the bedrock of economic progress that provides for the advancement of nations, says Singapore Management University’s (SMU) Associate Professor Reddi Kotha.
— Straits Times (annoying popups)

500 evacuated as fire hits hotel in Singapore, no injuries
About 500 people were evacuated Wednesday after a fire at a luxury hotel in downtown Singapore but there were no injuries, emergency services officials said.
— The Jakarta Post

930,000 HDB households to receive S$132 million in S&CC rebates
Around 930,000 Singaporean Housing and Development Board (HDB) households will receive S$132 million worth of Service and Conservancy Charges (S&CC) rebates in the 2019 financial year (from April 2019 to March 2020).
— Channel NewsAsia (very annoying popups)

Tan Chong posts 20% increase in FY18 earnings to $103.4 mil despite lower sales
Tan Chong International, the distributor and dealer of motor vehicles, saw a 19.7% in full-year earnings to HK$600.9 million ($103.4 million) in FY18 from HK$510.9 million in FY17.
— The Edge Singapore

Three areas singled out for bumped-up R&D funding after govt review
FOLLOWING the mid-term review of Singapore’s five-year Research, Innovation and Enterprise 2020 (RIE2020) plan, the government will allocate more funds to research and development (R&D) in three areas it has identified – digital technology, cell therapy manufacturing, and sustainable urban food production.
— The Business Times

PM Lee: Singapore remains committed to basic research
Singapore remains committed to basic research even as it places more attention on innovation and enterprise, Prime Minister Lee Hsien Loong said yesterday.
— Straits Times (annoying popups)

There were more than 30,000 flights between Singapore and KL in one year – and 15 of the 20 busiest international routes are in APAC
Thinking of going on a short getaway to Malaysia? You’re not alone.
— Business Insider

Two Beautiful New Apple Stores Expected to Open Soon in Singapore
The Straits Times reports that one of Apple’s new stores will open at Jewel Changi Airport within Singapore’s main airport.
— Mac Rumors

Underground plans for three districts revealed
District-level underground plans, released for the first time under the Urban Redevelopment Authority’s (URA) Draft Master Plan, will help the nation build deeper and wider, freeing up more surface land for people-centric uses.
— Straits Times (annoying popups)

3 Key Takeaways From ISEC Healthcare’s 2018 Results
ISEC Healthcare (SGX:40T) extended its winning streak in 2018. Here’s a look at what drove the company’s growth, its financial health, and what lies ahead.
— The Motley Fool

SIA Group CEO apologises for deployment of oxygen masks on Scoot flight to Taipei
Singapore Airlines Group CEO Goh Choon Phong on Wednesday (Mar 27) apologised for the anxiety and inconvenience caused by the activation of oxygen masks on board Scoot flight TR996.
— Channel NewsAsia (very annoying popups)

SGX buys 20% stake in BidFX to reinforce FX pillar
SINGAPORE Exchange (SGX) on Wednesday said it has bought a 20 per cent stake in BidFX, a nascent specialised foreign exchange (FX) trading platform, for US$25 million in cash, to boost its FX growth trajectory.
— The Business Times

Education still a social leveller but it goes beyond grades: Ong Ye Kung
Education is still the best social leveller, but there needs to be a broader definition of meritocracy, as well as the recognition that talent goes beyond just grades.
— Straits Times (annoying popups)

15 hospitalised after gastroenteritis outbreak at 4 PCF Sparkletots centres
Authorities are investigating a gastroenteritis outbreak at four PCF Sparkletots Preschool centres after more than 100 children fell ill and 15 people were hospitalised.
— Channel NewsAsia (very annoying popups)

Which Singapore Bank Is Making The Most Money For Its Investors?
A comparison of the profitability of Singapore’s three local banks.
— The Motley Fool

PM Lee to meet Malaysia’s PM Mahathir in April for 9th Leaders’ Retreat
Prime Minister Lee Hsien Loong will meet his Malaysian counterpart Mahathir Mohamad in Putrajaya for the 9th Singapore-Malaysia Leaders’ Retreat next month.
— Channel NewsAsia (very annoying popups)

Shanmugam says he ‘laughed off’ egg throwing comment, but understands police’s concerns
Home Affairs and Law Minister K Shanmugam said on Wednesday (Mar 27) that while he laughed off an online threat to throw an egg at him, the police could not and had to interview the man.
— Channel NewsAsia (very annoying popups)

Khaw Boon Wan says it is “miserable” for the Govt when the elderly suffer falls since “it is a lot of subsidy”
Transport Minister Khaw Boon Wan indicated that it is “miserable” for the Government when a higher proportion of the elderly suffer falls. Interestingly, he did not say that this was because of the concern over the health and wellbeing of the elderly.
— The Independent

SIA bonds a hit with investors, upsized to S$750 million
SINGAPORE Airlines’ (SIA) S$500 million 3.03 per cent five-year bonds have been upsized to S$750 million following strong demand from investors.
— The Business Times

Resident says postman left letterbox open in Jurong East, SingPost claims lock was faulty
A letter box was apparently found opened in Jurong East on 25 March. A resident at a block at Jurong East St 21 shared a photo of an opened letterbox that he says was left unlocked by a SingPost postman, leaving important letters exposed.
— The Online Citizen

More homes planned in city centre to inject vibrancy
More than 20,000 homes could be built in the city centre, which the Central Business District (CBD) is part of, so that it does not become a ghost town at night.
— Straits Times (annoying popups)

Gojek to roll out dedicated benefits programme for its Singapore drivers
RIDE-HAILING company Gojek will be piloting for its drivers in Singapore, a dedicated benefits programme which will be rolled out to selected drivers on April 1, 2019, and to all eligible drivers from June.
— The Business Times

URA Draft Master Plan: How it may affect the way you live, play and move about in Singapore
The Urban Redevelopment Authority (URA) launched its Draft Master Plan – a blueprint that charts out the Government’s plans for land use over the next 10 to 15 years – on Wednesday (Mar 27).
— Channel NewsAsia (very annoying popups)

Agency proposes start-up grant to encourage more real estate salespersons
According to a recent survey by the Council of Estate Agencies (CEA), 72 percent of respondents expressed an interest in dealing with property agents for future transactions.
— The Independent

930,000 households to get $132m in S&CC rebates
About 930,000 Singaporean households will receive rebates in service and conservancy charges (S&CC) from next month to March next year.
— Straits Times (annoying popups)

Hyflux’s dispute with its rescuer deepens as deadlines near
Embattled Singapore water treatment company Hyflux’s survival is looking shakier as disagreements with its rescuer deepen.
— The Edge Singapore

Companies affected by reduced foreign worker quota can tap on training, grants: Chee Hong Tat
The Government will work with companies to find solutions to meet their manpower needs in light of new restrictions on the Dependency Ratio Ceiling (DRC), Senior Minister of State for Trade and Industry Chee Hong Tat said on Wednesday (Mar 27).
— Channel NewsAsia (very annoying popups)

Mandarin Gardens second en bloc sale attempt fails without 80% agreement from owners
Mandarin Gardens has failed in its attempt to sell en bloc, which if successful would have been the largest en bloc sale in Singapore to date. The asking price for the leasehold condominium in Singlap was at a record high of S$2.927 billion.
— The Online Citizen

Changi is world’s best airport for 7th year running
Changi Airport, which has been named the world’s best airport for the seventh straight year, is already planning its next big project – the upgrading of Terminal 2.
— Straits Times (annoying popups)

The Impact Of Rising Interest Rates On Investments
Investors should keep a close eye on interest rates as they may have a negative impact on certain types of businesses.
— The Motley Fool

Familiar places made new, greener under URA’s Draft Master Plan
Places that Singaporeans find familiar such as Orchard Road, mature towns and major recreational corridors will be rejuvenated, said the Urban Redevelopment Authority (URA) on Wednesday (Mar 27).
— Channel NewsAsia (very annoying popups)

PUB’s recent actions did not influence Salim-Medco’s intention to call off bailout deal: Hyflux
Hyflux has challenged Salim-Medco’s justification for intending to withdraw from its bailout deal with the debt-ridden homegrown water firm.
— The Online Citizen

$540m kitty to spur medical advances using AI, robotics
A national research fund will set aside an additional $540 million for the creation of artificial intelligence (AI) systems to identify patients predisposed to chronic diseases like diabetes, as well as to build robots to perform menial tasks and develop wearable sensors to provide early intervention for heart failure.
— Straits Times (annoying popups)

Pilot plans for underground space in select areas
THE Urban Redevelopment Authority (URA) has unveiled underground space plans for Marina Bay, Jurong Innovation District and Punggol Digital District as it studies underground space with the aim of using land more efficiently.
— The Business Times

China Aviation Oil poised to take off this year with compelling valuations, strong passenger traffic recovery: RHB
RHB Research is upgrading its call on China Aviation Oil (CAO) to “buy” from “hold”, while raising its target price on the stock by 10 cents to $1.60 to suggest 26% upside plus 3.6% yield.
— 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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