Singapore Morning News For April 4

Singapore Morning News For April 4
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Prices of landed properties fell more steeply in Q1
Private home prices here have posted a 14th straight quarter of decline, but analysts say the end of the market funk could be in sight as the pace of falls has slowed.
The New Paper 

SGInnovate focuses on 5 areas to help startups, entrepreneurs
GOVERNMENT-OWNED company SGInnovate has nailed down the areas it will focus on in its mission to help startups and entrepreneurs at each stage of their development.
The Business Times 

Singapore ranks among top global relocation destinations
Singapore has retained its 4th place ranking among the top destinations where firms send their employees, according to research by Cartus, a provider of global relocation services.

More headache for Singapore developers
Singapore’s recent unwinding of some property curbs, which initially appeared to boost prospects for developers, may instead be creating new problems.
The Star 

Singapore visa issue may hurt future deals for IT companies like TCS, Infosys: Nasscom
IT body Nasscom today said the clamp down on tech visas by Singapore has shrunk the base of Indian techies to under 10,000 in the South East Asian nation and could hurt the ability of players to chase future deals.
The Economic Times

Law amended to crack down on complex cybercrimes
People who use or trade personal information obtained illegally can now be charged with an offence even if they did not perform the hacking to retrieve the data, after changes to cyber security laws were passed yesterday.
The New Paper 

Going global: Many Singapore businesses do get it, says IE
THERE doesn’t seem to be a shortage of Singapore companies – both the bigger boys and the newer start-ups – that are ambitious and hungry enough to want to expand abroad these days.
The Business Times 

Grab buys Indonesia shopping platform to expand battle with Uber
Grab, Uber Technologies Inc’s biggest rival in South-East Asia, will acquire Indonesian e-commerce startup Kudo for an undisclosed amount, striking its first deal since pledging to invest US$700mil in its largest market.
The Star 

Singapore: Debt Restructuring Hub Ready For Business
After months of public consultations and revision, the Singapore parliament passed the Companies (Amendment) Bill (the “Bill”) on 10 March 2017 amending the Singapore Companies Act (the “Companies Act”). The Bill contains, among others, significant and novel changes to Singapore’s insolvency laws. This is no doubt a giant step towards positioning Singapore as Asia Pacific’s Debt Restructuring Hub with cross-border restructuring capabilities.
JD Supra 

Government review underway to deal with fake news
The Republic is not spared from the worldwide problem of viral fake news articles, and the Government is mulling over ways to address the issue, given the “limited remedies” under existing laws.
Today Online 

HSBC becomes tier-1 insurer in Singapore
A Tier-1 insurer is defined as a direct life or composite insurer whose total assets are at least SGD5 billion, or a direct general insurer or reinsurer whose annual gross premiums are at least SGD500 million.

Sembcorp unveils its global asset management system
Sembcorp Industries unveiled the Sembcorp Global Asset Management System (GAMS), a system which utilises advanced digital tools in predictive analytics for the operations of utilities plants.
Singapore Business Review 

Singapore: Nova Satra closes $2m investment from Genting Bio Cellular
Nova Satra Dx Pte. Ltd. (Nova Satra), a Singapore-based molecular diagnostics startup, has secured $2 million (S$2.8 million) in funding from Genting Bio Cellular Sdn Bhd, a wholly-owned subsidiary of Genting Berhad.
Deal Street Asia 

New laws up terror security, bar foreigners from local political causes
Laws protecting the public from the growing terrorist threat and explicitly barring foreigners from using the Republic to further political agendas were passed in Parliament yesterday, with Law and Home Affairs Minister K Shanmugam stressing the Government’s longstanding position that “foreigners and foreign entities should not import foreign politics into Singapore”.
Today Online 

Singapore consumer watchdog to monitor water price profiteering
The Consumers Association of Singapore (CASE) will monitor for businesses attempting to profit from the increase in water prices, said Minister of State for Trade and Industry Koh Poh Koon in Parliament on Monday (Apr 3).
Channel NewsAsia 

Consumer Payments Country Snapshot: Singapore 2016
Singapore has a very well-developed payments system, with strong penetration of all forms of payment cards and healthy growth over the past few years. However, due to the mature nature of the market issuance is set to plateau going forward. Providers will need to shift their focus to encouraging increased use of payment cards, which will be crucial in driving consumers away from cash, which remains popular in the country.
PR Newswire 

Singapore start-ups head to China – and thrive
It is easy to see why China is widely considered a daunting market. Its fierce levels of competition and unique culture have meant that success has eluded even large American corporations such as eBay and Home Depot, but some Singaporean entrepreneurs are thriving there.
The Straits Times 

Why investors should consider shifting to hospitality investments
The property market is moving towards the tail-end of the supply cycle, even though there is still the 2017 tower of supply to contend with, said CIMB in its latest sector note.
Singapore Business Review 

HR job prospects in Singapore remain slow
Hiring for HR and administrative positions in Singapore has “remained slow” over the last few quarters, according to figures from the Monster Employment Index, a gauge of online job posting activities compiled monthly by job portal

Singapore-headquartered Excelity Global Solutions Partners With China-based WOWOO HR for Payroll and Benefits Administration
Embarking to effectively support corporations with ground-breaking HR technology and operative services, Singapore-headquartered Excelity Global Solutions and China-based WOWOO HR, a cloud-based Chinese HR service provider, announced their partnership today. WOWOO HR is a joint venture formed in late 2016 by Ant Financial Services Group, FESCO Group, and the Adecco Group.
Sys-Con Media 



Feature photo Jason Goh  
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).



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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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