Singapore morning news for May 8

Singapore morning news for May 8

Singapore morning news

Singapore says it’s studying whether to allow digital-only banks
Singapore is discussing the possibility of allowing virtual banks to operate in the city state, the Monetary Authority of Singapore said Tuesday.
— The Edge Singapore

Singapore opposition echoes public calls to scrap proposed fake news law
Singapore’s lone opposition party, which only holds six of 89 seats in parliament, will oppose a controversial fake news bill, its leader said on Tuesday, echoing public calls for its withdrawal but unable to make any difference.
— Reuters

Singapore Fills Coffers With Nearly $1 Billion on Casino Visits
Higher entrance levies haven’t stopped rich Singaporeans or those just feeling lucky from flocking to the country’s only two casinos.
— Bloomberg

MAS studying whether to allow virtual banks here
A digital-only bank – no branches, no tellers, no queues – is a step closer to opening here.
— Straits Times (annoying popups)

A look at key changes to Protection from Harassment Act
Crucial changes to the Protection from Harassment Act (Poha) were passed in Parliament on Tuesday (May 7) to streamline procedures for victims of online bullying and harassment, and to tackle offences such as doxxing.
— Today Online

Tech firms are partners but can’t be left to check themselves: Minister
Technology companies are partners of the Government in tackling the problem of fake news but they cannot be left to regulate themselves, said Law and Home Affairs Minister K. Shanmugam in Parliament yesterday.
— Straits Times (annoying popups)

Skills shortages, labour curbs may hit Singapore manufacturing
Singapore has attracted high-tech manufacturers with incentives and a well-educated workforce but growing demands for highly skilled labour and government moves to curb numbers of foreign workers may mean a tougher path ahead.
— The Phnom Penh Post

SINGAPORE OULAWS ‘REVENGE PORN’, ‘CYBER-FLASHING’
Singapore has outlawed “revenge porn” and “cyber-flashing” – sending unsolicited images of one’s private parts – the latest country to clamp down on sexual offences committed online.
— Eyewithness News

Exemption of Government from being sued under POHA amendments a ‘glaring omission’: Pritam Singh
The decision to exempt the Government from being sued should it perpetuate a falsehood is a glaring omission and a lost opportunity at winning the trust of the public, Workers’ Party MP Pritam Singh said in Parliament on Tuesday (May 7).
— CNA  (very annoying popups)

World Class Global 1Q earnings surge more than 30-fold to $10.2 mil on higher revenue, forex gain
Property developer World Class Global (WCG) reported 1Q19 earnings of $10.2 million for the 1Q19 ended March, close to 30 times than the $0.3 million a year ago.
— The Edge Singapore

Singapore on track to roll out 5G mobile networks by 2020: Iswaran
Singapore is moving another step forward in the process of rolling out 5G mobile networks by 2020 with the launch of its second public consultation on issues like regulatory frameworks and policies for the next-generation network.
— CNA  (very annoying popups)

The Merdeka Generation Fund worth S$6.1 billion passed in Parliament
On Monday (6 May), a Bill had been passed in Parliament to establish the S$6.1 billion Merdeka Generation Fund (MGF). The fund is to help nearly 500,000 Singaporeans with their healthcare costs.
— The Online Citizen

Singapore, Kenya central banks to jointly organise first ever Afro-Asia FinTech Festival
The Monetary Authority of Singapore (MAS) and the Central Bank of Kenya (CBK) jointly announced that they will be organising the inaugural Afro-Asia FinTech Festival.
— The Edge Singapore

IMDA to look beyond price to draw more 5G bidders
IN A departure from typical spectrum rights auctions, the Infocomm Media Development Authority (IMDA) plans to assign 5G spectrum to interested Mobile Network Operators through a Call For Proposal (CFP), with both price and non-price criteria.
— The Business Times

SPH celebrates 35th anniversary with fund-raising initiative
Media group Singapore Press Holdings (SPH) kick-started its 35th anniversary celebrations yesterday with a fund-raising campaign that will see the firm match public donations dollar for dollar for up to $350,000.
— Straits Times (annoying popups)

As the ‘human flesh search engine’ of online vigilantism grows, measures to deal with doxxing critical, MPs say
Members of Parliament (MP) on Tuesday (May 7) welcomed the criminalisation of “doxxing” under new amendments to the Protection from Harassment Act (POHA), stressing the need for such laws as online vigilantism becomes more “rampant”.
— CNA  (very annoying popups)

Minimum age of criminal responsibility to be increased from 7 to 10–Amrin Amin
Senior Parliamentary Secretary for Home Affairs Amrin Amin raised the issue of the minimum age of criminal responsibility (MACR) in Parliament on May 6.
— The Independent

Singapore central bank studying licences for virtual banks
Singapore’s central bank is studying whether to allow financial technology firms to operate digital-only banks in the city-state, it said, following moves by regulators in other Asian markets to issue virtual banking licences.
— CNA  (very annoying popups)

Singapore additive manufacturing cluster ties up with global network
SINGAPORE’S National Additive Manufacturing Innovation Cluster (Namic) will work with an international network to identify parts suited to additive manufacturing (AM), also known as industrial 3D printing, in sectors such as medical, transportation and logistics, construction equipment, aviation, automotive, and shipping.
— The Business Times

Measures targeting online falsehoods aim to ‘remedy’ impact, ‘not punish wrongdoers’: Edwin Tong
A proposed law aimed at fighting deliberate online falsehoods will provide the Government with various tools to deal with the matter, but these will serve to “remedy the impact of falsehoods primarily and not punish wrongdoers”.
— CNA  (very annoying popups)

SingPost sinks into $75.1 mil loss in 4Q due to US business impairment charges & exceptional items
Singapore Post (SingPost) reversed into the red for the 4Q ended March, posting a loss of $75.1 million from earnings of $31.8 million a year ago due to impairment charges in exceptional items.
— The Edge Singapore

In quotes: Parliament discusses the Protection from Online Falsehoods and Manipulation Bill
The Protection from Online Falsehoods and Manipulation (POFMA) Bill will be tabled for a second reading in Parliament on Tuesday (May 7).
— CNA  (very annoying popups)

Netizens do not buy Law Minister’s explanation on why the offender of Monica Baey’s case was only given conditional warning
Law and Home Affairs Minister K Shanmugam said in Parliament on Monday (6 May) that Mr Nicholas Lim, the National University of Singapore (NUS) student who secretly filmed a fellow student, Monica Baey, while showering in the hostel, is “on thin ice” after he was given a 12-month conditional warning by the police.
— The Online Citizen

Angry customer posts disappointment over botched order, gets a personal phone call from Lazada’s CEO
Sometimes it pays to air your grievances on social media, especially in an age when posts can go viral very quickly.
— The Independent

Singapore reveals more details on 5G rollout plans, launches 2nd feedback round
Singapore is moving another step forward in the process of rolling out 5G mobile networks by 2020 with the launch of its second public consultation on issues like regulatory frameworks and policies for the next-generation network.
— Today Online

Should Singapore work towards a ‘996’ working model?
Reputed for its capable workforce, Singapore’s position as a global talent hub has been integral to its economic progress. But an ageing society poses a threat to the Republic’s status as a regional economic and financial hub.
— Asean Today

MOH: Not enough money for vaccinations, go tap immediate family member’s Medisave
A member of the public Andrew Seow Chwee Guan wrote to ST Forum on 27 Apr asking the government to consider giving grants for the elderly to get key vaccinations, especially the pneumococcal jabs to prevent pneumonia.
— The Online Citizen

Singapore 3D cluster ties up with global network
SINGAPORE’S National Additive Manufacturing Innovation Cluster (Namic) will work with an international network to identify parts suitable for additive manufacturing (AM) or industrial 3D printing, in sectors such as medical, transportation and logistics.
— The Business Times

Court dismisses application from seven unsecured banks to be carved out of Hyflux debt moratorium
The Singapore High Court on Tuesday (May 7) denied a group of seven unsecured banks the go-ahead to be carved out of the debt moratorium to file an application to have Hyflux and Hydrochem placed under judicial management.
— CNA  (very annoying popups)

Edwin Tong claims “the overwhelming majority of Singaporeans” want strong fake news laws
Senior Minister of State for Law and Health, Edwin Tong, has asserted that “most citizens” want strong fake news laws. Declaring that only a small group is “crying wolf” over the proposed Protection from Online Falsehoods and Manipulation Act (POFMA) bill, Mr Tong said.
— The Independent

Online falsehoods weaponised to destroy trust: Shanmugam
Trust in public institutions, like the Government or the media, is essential in creating an environment to share facts, with a belief in the authenticity of the sources, Home Affairs and Law Minister K. Shanmugam said in Parliament yesterday.
— Straits Times (annoying popups)

Grab Ventures launches Singapore subscription plan for its scooters
The new subscription plan is made available for Grab’s food delivery-partners from all food delivery service providers in Singapore Anyone who spends any sort of time in Singapore knows about the people on electric scooters that zoom around the city delivering food orders.
— e27

Law Minister K Shanmugam addresses concerns over proposed online falsehoods and manipulation law
Law and Home Affairs Minister K Shanmugam addressed criticism of the Protection from Online Falsehoods and Manipulation Bill in a parliamentary speech on Tuesday (May 7), saying while there is nothing wrong with questioning whether the powers given to the Government could be abused, those levelling the criticism should first read the proposed laws in detail.
— CNA  (very annoying popups)

Why investors love Singapore’s struggling malls
Singaporeans aren’t spending like they used to, at least not in shopping malls. There are too many already and more are being built. But investors still have good reasons to back mall owners.
— The Edge Singapore

Resale of older HDB flats continues upswing in face of policy tweaks: OrangeTee
DESPITE lingering concerns about their depreciating value and the adverse impact of the latest cooling measures, older HDB flats in Singapore are still in demand, says the latest quarterly report on HDB trends published by OrangeTee & Tie.
— The Business Times

Faster, greater protection for victims of harassment
Victims of harassment will get faster and greater protection after amendments to the Protection from Harassment Act were passed yesterday.
— Straits Times (annoying popups)

Deliberate online falsehoods debate: MPs spar on need for executive action, independent body to check powers
Mr Christopher de Souza disagrees with Workers’ Party MP Pritam Singh on whether the courts would be better placed to decide on what actions to take against online falsehoods.
— CNA  (very annoying popups)

Hyflux’s moratorium extended by 5 days to May 29; two new restructuring plans in the works
The Singapore High Court on Tuesday rejected the petition by a group of seven unsecured banks to be carved out of a debt moratorium so that they can file an application to have Hyflux and Hydrochem placed under judicial management
— The Edge Singapore

Proportion of older adults with multiple chronic diseases surges
The proportion of older adults with three or more chronic diseases nearly doubled from 2009 to 2017, a local study has found.
— Straits Times (annoying popups)

Student studying in Singapore scammed into staging own kidnapping by fake China policeman
A 15-year-old student was scammed into staging his own kidnapping on May 1, leading to his parents transferring 20,000 yuan (S$4,045) to a bank account in China.
— Asia One

SingPost registers Q4 net loss of S$75.1 million; company to exit US market
SingPost has attributed a net loss of S$75.1 million in its fourth quarter to equity holders, reversing from a net profit of S$31.8 million a year ago, according to results released by the postal service on Tuesday (May 7).
— CNA  (very annoying popups)

46% of young adult Singaporeans open to religious extremist views being posted online, a worrisome trend
A white paper from the Institute of Policy Studies (IPS) revealed that 46% of young Singaporeans would allow extremist views to be posted online and this includes things like deeming other religions as the enemy and posting it on social media and other platforms.
— The Independent

93% of Sec 1 girls opt for free cervical cancer vaccine: Khor
A total of 25 schools, as of April 26, have offered their Secondary 1 female students cervical cancer vaccines as part of the national school-based vaccination programme, said Senior Minister of State for Health Amy Khor yesterday.
— Straits Times (annoying popups)

Singapore International Festival of Arts 2019 adds new shows to sold out hits Frogman and Displaces Persons’ Welcome Dinner at
With less than two weeks to the opening of the Singapore International Festival of Arts (SIFA) 2019, new shows have been added to two sold-out hits.
— The Online Citizen

Some commercial buildings finding it hard to sell en bloc
The high vacancy rates for strata-titled commercial property are a major deterrent to developers.
— Straits Times (annoying popups)

Singaporean doctor who forged own MC fined $7,000
A doctor posted to Changi General Hospital (CGH) reported sick on Nov 20, 2015, and forged his own medical certificate (MC) five days later.
— Asia One

 

Feature photo vaidehi shah

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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