Singapore morning news for May 15

Singapore morning news for May 15

Singapore morning news

SoCash turns shops into cheaper ATMs for banks
BANKS in Singapore spend about US$200 million a year on ATM maintenance, logistics, insurance, counting and cleaning cash, and a host of other expenses just to maintain circulation of physical cash, estimates Singapore startup SoCash.
— The Business Times

S’pore leaders stress need for strong consensus on maritime rules
A strong consensus must be built around existing maritime-based rules by all countries to ensure the shared use of the seas, two Singapore leaders said yesterday, as they underlined how crucial the seas are to trade and to Singapore’s prosperity.
— Straits Times (annoying popups)

Hyflux set to lose control of Tuaspring integrated plant
Hyflux is set to lose Tuaspring Integrated Water and Power Plant (IWPP), which was once its largest asset but has now been flagged by some analysts as a millstone around the neck of the embattled water treatment company.
— Straits Times (annoying popups)

Singapore must prepare to deal with US-China trade war fallout: Chan Chun Sing
Singapore must be prepared to deal with fallout from the US-China trade dispute, said Trade and Industry Minister Chan Chun Sing on Tuesday (May 14), amid worsening tensions between Washington and Beijing.
— Channel NewsAsia (very annoying popups)

‘Dark storm clouds’ could threaten regional maritime security and prosperity: Ng Eng Hen
There are “dark storm clouds” that could threaten maritime security in the region, and these include countries adopting different rules when staking territorial claims or conducting freedom of navigation exercises at sea, Defence Minister Ng Eng Hen said on Tuesday (May 14).
— Channel NewsAsia (very annoying popups)

Law Minister says there is no criminal liability for netizens who share fake news in good faith
Law and Home Affairs Minister K Shanmugam has clarified that netizens who unknowingly share fake news in good faith will not be jailed, as he sat down with tech and lifestyle site Vulcan Post to respond to netizens’ concerns on the recently passed Protection from Online Falsehoods and …
— The Independent

Singapore Institute of Advanced Medicine to introduce proton beam therapy for cancer by early next year A proton beam therapy system will be available to cancer patients by early next year, the Singapore Institute of Advanced Medicine Holdings (SAM) said on Tue (14 May).
— The Online Citizen

44 fantastic investors that might be your next match at #Echelon2019
Trying to score that investor meeting for the longest of time? We have the answer to that at #Echelon2019! Echelon Connect 2019 is only limited to Premium Ticket holders as well as TOP100 startups, want to get your Premium Ticket? Click here! One of the coolest features of Echelon Asia Summit 2019 …
— e27

Singapore government’s justification for fake news law is similar to that of Malaysia’s Anti-Fake News Act which was eventually repealed Debate is still swirling around the Singapore government’s proposed fake news law, the Protection from Online Falsehoods and Manipulation Act (POFMA) – even more so this week as parliament sits down for a second reading for the bill. Since it was introduced last month (1 April), the government …
— The Online Citizen

InnoVen Capital raises additional US$200M capital commitment from Temasek, UOB
InnoVen Capital stated that the additional capital will allow the firm to “tap on the immense potential in the venture debt space across Asia” Venture debt provider InnoVen Capital today announced that it has raised an additional US$200 million capital commitment from its …
— e27

EU and Singapore: accelerating digital transformation and delivering value
IT is a pleasure for me to visit Singapore, one of the world’s most forward-looking, dynamic and innovative hubs. Singapore embraces change and has been constantly re-inventing itself for so many years as a trailblazer in the area of digital government.
— The Business Times

Edtech startup Cialfo raises US$3m in Series A funds for US expansion
CIALFO, a college admissions platform headquartered in Singapore, has raised US$3 million in equity for its Series A round led by DLF Venture, with support from Enterprise Singapore investment arm Seeds Capital, YK Capital and angel investors.
— The Business Times

Temasek, UOB commit a further US$200m to venture debt firm InnoVen
ASIA venture debt firm InnoVen Capital has secured US$200 million of additional capital commitment from shareholders Temasek and United Overseas Bank (UOB) as it steps up its pursuit of startups in the region.
— The Business Times

SMU students back in Singapore; four in hospital
20 Singapore Management University (SMU) students who were injured in a bus accident during a community service project trip to Vietnam last Saturday have returned home safely.
— Straits Times (annoying popups)

Students’ union plans night patrols of NUS
The National University of Singapore Students’ Union (Nussu) plans to organise and carry out night patrols on campus from next month, to further improve safety measures and deter Peeping Toms.
— Straits Times (annoying popups)

New life for old Traffic Police headquarters
It was not the front facade of the old Traffic Police headquarters in Maxwell Road that piqued heritage conservation expert Ho Weng Hin’s interest during refurbishment efforts. Rather, it was the building’s rear.
— Straits Times (annoying popups)

BC Partners, GIC selling stake in Acuris
Singapore’s sovereign wealth fund GIC and private equity firm BC Partners will sell their majority stake in financial media and data firm Acuris to Irish software company Ion Investment Group.
— Straits Times (annoying popups)

Security officer who stopped suicide attempt gets police award
A security officer who stopped a woman from killing herself was given an award by the Singapore Police Force on Tuesday (May 14).
— Channel NewsAsia (very annoying popups)

All SMU students in Vietnam bus accident have returned to Singapore
A group of students from Singapore Management University (SMU) who were involved in a bus accident in Vietnam last Saturday have returned to Singapore, the university said on Tuesday (May 14).
— Channel NewsAsia (very annoying popups)

Singapore Catholic Church mandated to report sexual abuse cases
On May 13 (Monday), the Singapore Catholic Church said it would adopt the new rules issued by Pope Francis last week involving transparency in sexual abuse cases. Starting June 1, the Church will report all cases of sexual abuse. The Archdiocese Professional Standards Office (PSO) …
— The Independent

Investment tech must ride the swell of fintech in Southeast Asia
Does tech have a hierarchy of needs? If tech consumers had their own Maslow’s hierarchy of needs, internet access would form the bottom rung, and financial-technology would be the one above it. You need to be able to connect to the world wide web and leverage this access to store value. The next …
— e27

Singtel stumbles toward lowest profit in 16 years, faces cost pressure
Singtel is set to post its lowest annual profit in 16 years on Wednesday (May 15), underscoring challenges Southeast Asia’s largest telecoms firm faces as its rivals strike deals in a highly competitive industry. — Channel NewsAsia (very annoying popups)

Conversion therapy in Singapore has evolved from conversion to a more sanitised version of ‘desire management’
A concerned young Singaporean on twitter discovered a seemingly harmless programme by a church targetted at the LGBTQ community in Singapore. But upon further inspection, the bright, happy advertising was for a version of conversion therapy. Twitter fam, I am gonna need help. This church in …
— The Online Citizen

Commentary: What you need to know about Career Mobility
Advice for job seekers: Look at your career as a developing a three-part story, says Forest Wolf’s Crystal Lim-Lange.
— Channel NewsAsia (very annoying popups)

French video games company Ubisoft expands its startup programme to Singapore
With this, Ubisoft will be able to support and reach out to more entrepreneurs around the world in the entertainment sector French video games company Ubisoft has announced the launch of the fourth season of its startup programme at Station F, one of the world’s biggest startup campuses, in …
— e27

Utico has so far submitted draft term sheet, not binding offer: Hyflux
NO BINDING offer to invest in Hyflux has been submitted by Utico, Hyflux said on Tuesday, contrary to a Reuters report s published over the weekend.
— The Business Times

S$20m funding sought for honestbee; no update on strategy tweak
INVESTORS were approached about raising at least S$20 million for struggling grocery delivery startup honestbee earlier this month following its leadership shuffle, The Business Times understands from market sources.
— The Business Times

S’poreans must gird themselves for the long haul: Chan
As trade tensions worsen between the United States and China, Singapore must be prepared to deal with the challenges and Singaporeans need to follow developments closely and gird themselves for the long haul, Trade and Industry Minister Chan Chun Sing said yesterday.
— Straits Times (annoying popups)

ComfortDelGro’s Q1 profit up 6.2%
Powered by contributions from new acquisitions, transport giant ComfortDelGro posted a 6.2 per cent increase in first-quarter earnings to $70.4 million for the period ended March 31.
— Straits Times (annoying popups)

Precision cancer treatment expected by 2020
It costs more, but proton beam therapy can target cancer cells with greater precision – and it could be available in Singapore by next year.
— Straits Times (annoying popups)

Condo resale prices up 0.9% in April
Resale prices for non-landed private residential units rose 0.9 per cent last month, the third straight month-on-month rise.
— Straits Times (annoying popups)

Olam’s first-quarter earnings up 7% on higher revenue
A rise in revenue helped agri-food company Olam International lift its first-quarter earnings although the increase was partly offset by higher depreciation and finance costs.
— Straits Times (annoying popups)

WeWork’s S-E Asia MD upbeat on Singapore ops, eyes growth in region
WeWork Singapore is operationally profitable and its focus is on growth in the region, said the co-working space provider’s South-east Asia managing director Turochas Fuad.
— Straits Times (annoying popups)

Watain petition now wants to ban more metal bands scheduled to perform in Singapore in 2019 Singapore – The creator of the petition that cancelled metal band Watain’s performance in Singapore has added more names to the list. The allegedly concerned citizen wants to ban the rest of the scheduled performances in Singapore for the year. On March 6, Swedish black metal band Watain’s …
— The Independent

Secret society member gets jail, caning over fatal attack at St James Power Station SINGAPORE: A secret society member involved in a group attack that killed a man at St James Power Station two years ago was sentenced to eight-and-a-half years’ jail and eight strokes of the cane on Tuesday (May 14).
— Channel NewsAsia (very annoying popups)

194-year-old Masjid Bencoolen to undergo $4 million renovation
The 194-year-old Masjid Bencoolen will undergo a 15-month-long upgrading programme to provide more prayer spaces to accommodate a growing number of congregants.
— Straits Times (annoying popups)

Call for creative ideas to revamp state sites
A new initiative is calling for creative proposals to reimagine state properties and land parcels into new spaces.
— Straits Times (annoying popups)

More stalls, more money raised at SPH charity fest
Homemade cookies, colourful handicrafts and an arcade claw machine were among the attractions at the annual Singapore Press Holdings (SPH ) Charity Carnival yesterday.
— Straits Times (annoying popups)

S’pore navy marks 10th year of Information Fusion Centre
The Republic of Singapore Navy’s Information Fusion Centre (IFC), which allows maritime security information to be shared across countries, launched its upgraded portal yesterday as it marks its 10th anniversary this year.
— Straits Times (annoying popups)

29 years’ jail for man who sexually abused daughter
He started touching his daughter sexually when she was as young as five years old, and when she was around 11, he started having unprotected sex with her.
— Straits Times (annoying popups)

Golden Agri’s Q1 net profit rises 54.5% on one-off gain
A one-off gain gave earnings a healthy bump at Golden Agri-Resources in the first quarter, it reported yesterday.
— Straits Times (annoying popups)

JustCo setting up three centres in Taipei
Singapore-based JustCo is setting up three new co-working centres in Taipei. The move brings the company’s network to 32 centres in eight cities.
— Straits Times (annoying popups)

Monkeypox case: 5 Singapore residents among those quarantined SINGAPORE: Five Singapore residents are among the people quarantined after coming into close contact with Singapore’s first monkeypox patient, said the Ministry of Health in an update on Tuesday (May 14).
— Channel NewsAsia (very annoying popups)

Man who sexually abused daughter, took her virginity gets jail SINGAPORE: A man who sexually abused his own daughter from when she was as young as five years old, eventually taking her virginity when she was about 11, was sentenced to jail for 29 years on Tuesday (May 14).
— Channel NewsAsia (very annoying popups)

Man set to plead guilty to sexual assault of stepdaughter goes to trial instead after contesting facts SINGAPORE: A man who was set to plead guilty to charges of sexual assault against his stepdaughter, then aged eight to nine, is claiming trial instead after he contested the facts outlined by the prosecution.
— Channel NewsAsia (very annoying popups)

Man who repeatedly logged into ex-girlfriend’s social media accounts sentenced to supervised probation SINGAPORE: A 22-year-old man was sentenced on Tuesday (May 14) to supervised probation and community service after he used his ex-girlfriend’s Facebook and Instagram accounts repeatedly over about four years without her knowledge.
— Channel NewsAsia (very annoying popups)

 

Feature photo Stephen Bowler

This week’s Singapore morning news feature photo acknowledges International Day of Light, May 16.

 

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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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 35 years experience as a journalist, photographer, videographer and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia.

He has covered major world events including the 1991 pillage riots in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010 and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

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