Singapore Morning News For August 1

Singapore Morning News For August 1
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Singapore morning newsGoogle to train 2,500 more Singapore SMEs to go global by 2019
SOME 2,500 small and medium enterprises (SMEs) in Singapore will be trained by Google to tap the global market by 2019, the tech giant announced on Monday during the official launch of the expansion of its Go Global initiative.
The Business Times

Faced with huge demand, Amazon books taxis to fulfil orders
Confronted with a deluge of orders, Amazon’s Prime Now service has resorted to booking taxis — on top of tapping freelance drivers — to make deliveries.
Today Online 

Consumers lost S$3.59m in prepayments last year: Case
Consumers have reported losing about S$8.35 million in advance payments for goods and services since 2014 — and the figure could be the tip of the iceberg, the industry watchdog said yesterday.
Today Online 

Visitors to Singapore spent 15% more in Q1
Visitors to Singapore spent 15 per cent more in the first quarter of this year compared to the same period last year, according to the latest numbers from the Singapore Tourism Board (STB) on Monday (Jul 31).
Channel NewsAsia 

Consumers’ prepayment losses ballooned to $3.59m in 2016
There has been an “alarming rise” in the amount of prepayments reported lost by consumers due to businesses suddenly shuttering over the past three years, said the Consumers Association of Singapore (Case) yesterday.
The New Paper 

China visitors fuel rise in tourists, jump in spending
DRIVEN by growth across most categories, tourism spend in Singapore jumped 15 per cent year-on-year in the first quarter of this year to S$6.4 billion, outpacing a 4 per cent rise in arrivals to 4.3 million.
The Business Times 

Revised registers of electors open for public inspection
There are a total of 2,515,322 voters listed in the revised registers of electors, the Elections Department said on Monday (Jul 31).
Channel NewsAsia

Sling the Singapore model out of the Brexit debate
If Britain thought that the summer holidays would mark a pause in the internal warfare inside Theresa May’s cabinet over Brexit, it was mistaken.
Financial Times 

Singapore Banks Could Use the Skepticism
It took an earnings announcement from the smallest of Singapore’s banks to shake the edifice of optimism that investors had built around all three of them.

US, Singapore Conclude Biggest Army Exercise
From July 17 to July 28, the United States and Singapore conducted the latest iteration of the oldest exercise between their two armies. Tiger Balm 2017, which was by far the largest of these drills to date, was just the latest example of ongoing efforts by both countries to boost their defense ties.
The Diplomat 

Swiss Beat Singapore, Belgium, Germany on Innovation: Chart
Switzerland topped an innovation ranking of 35 countries for the 26th time in 2016, ahead of Singapore, Belgium, Germany and Finland. The home of drug makers Roche Holding AG and Novartis AG did well in all sub-categories, including education and the economy, according to study co-author Fraunhofer-Institut fuer System- und Innovationsforschung ISI. Industry-powerhouse Germany needs to do better on digitalization, it said.
Swissinfo / Bloomberg 

Malaysia-Singapore will sign agreement on RTS link in December
Malaysia and Singapore will sign a bilateral agreement on the development of the Johor Bahru-Singapore Rapid Transit System (RTS) Link, this December.
Astro Awani 

Singapore banks could use the scepticism
It took an earnings announcement from the smallest of Singapore’s banks to shake the edifice of optimism that investors had built around all three of them.
Today Online 

Singapore acquires radar system able to spot small drones up to 5km away
The Republic has acquired an advanced radar system which is able to detect and track even small consumer drones within a radius of 5km.
Today Online 

PIE work site accident: Last worker out of intensive care; 4 still in hospital
The remaining worker in intensive care following the collapse of an uncompleted viaduct was on Monday (Jul 31) transferred to the high-dependency unit, half a month after the accident.
Channel NewsAsia 

Hapz raises $500,000 seed round from Cocoon Capital, SPH Media Fund
Event-tech platform Hapz has raised S$680,000 ($499,595) in seed funding from Cocoon Capital, SPH Media Fund, Quest Ventures, TinkBig Venture and an angel investor.

Prestellar Ventures raises $100m from partners including Nepal’s CG Corp
Prestellar Ventures, a Singapore based private equity firm, has raised $100 million from four general partners and will invest in tech enabled startups in South Asia and ASEAN working in hospitality, consumer, financial services, and rural products and services, according to media reports.

Novena Global Lifecare Group to pursue $150m Taiwan IPO
Singapore-based Novena Global Lifecare Group, one of Asia’s largest integrated medical healthcare and aesthetic groups, is targeting to list on the Taiwan Stock Exchange as part of its regional expansion plans.

Super penthouse at Sculptura Ardmore sold for over S$60m
PRICES in the Core Central Region may be relatively soft compared to peak levels but Simon Cheong’s SC Global Developments is understood to have sold the super penthouse at Sculptura Ardmore at an eye-popping price of over S$6,000 per square foot.
The Business Times 

300 employers adopt leave, training benefits for term contract workers
IN the first Tripartite Standard rolled out on Monday, nearly 300 employers have agreed to provide term contract workers with leave benefits and termination notice period based on their cumulative length of service.
The Business Times 

Home-grown Clearbridge Medical Group opens first centre in Hong Kong
SINGAPORE-BASED Clearbridge Medical Group (CBMG), whose parent company is also behind acclaimed Singapore medical start-up Clearbridge BioMedics, opened its first centre in Hong Kong on Friday as part of its regional expansion.
The Business Times 

Singapore-JB Rapid Transit System to begin passenger service by 2024
A cross-border MRT system which will connect Singapore and Johor Baru in Malaysia will begin passenger service by the end of December 2024, ministers from the two countries announced on Monday (Jul 31).
Channel NewsAsia 


Feature photo Craige Moore 
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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