Singapore Morning News For July 27

Singapore Morning News For July 27
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Singapore morning newsSingapore’s manufacturing output jumps 13.1% in June
Singapore’s manufacturing output rose 13.1 per cent year-on-year in June, the 11th straight month of growth, according to data released by the Singapore Economic Development Board (EDB) on Wednesday (Jul 26).
Channel NewsAsia 

Amazon Prime Now lands in Singapore app stores
E-commerce giant Amazon launched its Prime Now service in Singapore on Wednesday night (Jul 26), making its app available via the country’s iTunes and Google Play stores.
Channel NewsAsia 

Singapore and Hong Kong’s Airport Dominance Is Under Threat
For decades, Singapore and Hong Kong have reigned supreme: as key transit points connecting travelers in Asia to and from the rest of the world. But now, a $1 trillion global airport spree is threatening the status quo.

More SMEs failing to pay debts on time, survey shows
Nearly two out of three small and medium-sized enterprises (SMEs) failed to pay their debts on time in the second quarter of the year, the highest level in two years, according to research by DP Information Group (DP Info).
Today Online 

Online liquor retailer Paneco seeks collaborations, acquisitions in Asia-Pacific
Online liquor retailer Paneco, part of leading travel retail firm Duty Free Americas, is eyeing collaborations and acquisitions to expand its presence in Asia Pacific after its foray into Singapore last year.

Agilent to invest S$85m over 5 years in Singapore
AGILENT Technologies will invest S$85 million over five years in Singapore to double its production capacity by expanding its advanced manufacturing and applied research and development (R&D) capabilities here on the back of robust growth.
The Business Times

Singapore’s 50 Richest 2017: Fortunes Rise Amid Changing Times
Singaporeans got a jolt in June when a quietly raging dispute between Prime Minister Lee Hsien Loong and his two siblings exploded on social media. Such unprecedented public venting, by the late Lee Kuan Yew’s heirs no less, exposed a rare vulnerability in the tightly governed nation, which has also faced the threat of regional isolation lately.

Eco-Link at Mandai to be ready by 2019
Come 2019, local wildlife in the Mandai precinct can travel between two sections of the Central Catchment Nature Reserve using a dedicated bridge, Mandai Park Holdings (MPH) announced on Wednesday (Jul 26).
Channel NewsAsia 

FairPrice stores to house more than 400 Tesco products
More than 400 Tesco products will be made available across almost 60 NTUC FairPrice stores islandwide and online, the supermarket chain announced on Wednesday (Jul 26).
Channel NewsAsia 

Oxley-led consortium acquires Serangoon Ville for S$499m in collective sale
A CONSORTIUM led by Oxley Holdings has acquired Serangoon Ville, a former HUDC estate in Serangoon North Avenue 1, for S$499 million in a collective sale.
The Business Times 

Singapore defense firm ST Engineering launches US$150M venture arm
ST Engineering, a defence and engineering firm, announced yesterday it has launched a US$150 million venture capital arm to “scout for and invest in promising technology start-ups” in sectors that fit the company’s profile.
The Independent Singapore

Visa expands transaction processing facilities in Singapore, UK
Visa has opened new data centres in Singapore and the UK to expand its transaction processing capabilities and meet growing demand for digital payments.

Uneven growth the new normal for Singapore economy?
Manufacturing – now the brightest spot in the Singapore economy – turned in yet another outstanding performance last month, thanks largely to electronics makers.
The Straits Times (paywall)

OCBC’s Q2 profit up 22% to S$1.08b
OCBC on Thursday posted a 22 per cent increase in its second-quarter net profit to S$1.08 billion, from S$885 million a year ago.
The Business Times 

Online buyers at Qoo10 can now insure against defective goods
Shoppers at the Qoo10 Singapore online marketplace can now purchase insurance protection to cover against defective or malfunctioned electronic goods worth at least S$100, with a new partnership between Qoo10 and local insurer NTUC Income.
Today Online 

AHTC calls for S$33.7m worth of contracts to be voided
Aljunied-Hougang Town Council (AHTC) wants contracts worth over S$33 million with former managing agent FM Solutions & Services (FMSS) and service provider FM Solutions and Integrated Services (FMSI) to be declared void, owing to the supposed breach of fiduciary duties by its town councillors.
Today Online 

Noble Group seeks buyers for gas and power business
Noble Group Ltd. is seeking to sell its gas and power trading business and has held talks with rival traders, according to people familiar with the discussions.

Singapore is Testing Out Glow-in-the-Dark Pathways
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In an effort to make evening walks on a renovated pathway more convenient, Singapore has started testing a system that will make its roads illuminate in the dark.

AHTC lawsuit an opportunity for WP MPs to explain their side of story: Sylvia Lim, Pritam Singh
The Workers’ Party (WP) MPs at the centre of a lawsuit over allegedly improper payments made by the Aljunied-Hougang Town Council (AHTC) on Wednesday (Jul 26) said that they saw the court case as an opportunity to explain to the court and the public why they made the decisions they did.
Channel NewsAsia 

Zika cluster reported at Serangoon North Avenue 1
Three cases of locally transmitted Zika virus infection have been confirmed at Serangoon North Avenue 1, the National Environment Agency (NEA) said on Wednesday (Jul 26).
Channel NewsAsia 

Swiss-Singapore ties at new high
As Singapore and Switzerland mark 50 years of diplomatic relations this year, how do you view the state of relations between the two countries both at the political and economic levels?
The Business Times 

Aberdeen Singapore Fund, Inc. (NYSE:SGF) Sees Unusual Trading Volume in Its Shares
Aberdeen Singapore Fund, Inc. shares had a trading volume of 3,431 on Wednesday. Volume was down 77.42% under the stocks average daily volume.
Finance Daily 


Feature photo Graeme Churchard
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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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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