Singapore Morning News For August 16

Singapore Morning News For August 16
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Singapore morning newsMeet Goh Eng Lim – the Singaporean behind the most powerful supercomputer sent into space
When a SpaceX rocket docks at the International Space Station (ISS) on Wednesday (Aug 16), it will deliver, among other items, a supercomputer billed as the most powerful ever sent into orbit.
Channel NewsAsia 

Buying momentum buoys July sales of private and EC homes
DEVELOPERS sold almost twice as many private homes and executive condominiums (ECs) in July than they did in June amid two project launches – reflecting a buoyant buying momentum that analysts believe will continue for the rest of this year and the next.
The Business Times 

Private home sales continue upward climb in July
A total of 1,108 private home units – excluding executive condominiums (ECs) – were sold last month on the back of more project launches, according to the latest figures from the Urban Redevelopment Authority (URA) on Tuesday (Aug 15).
Channel NewsAsia 

Scoot: No proof of bedbugs after searching plane
Low-cost airline Scoot has found no evidence of bedbugs after investigating a passenger’s claim that she was bitten by them on a flight.
The New Paper 

Maritime And Port Authority Of Singapore Revokes Panoil Petroleum Pte Ltd’s Bunker Craft Operator Licence
The Maritime and Port Authority of Singapore (MPA) has revoked the bunker craft operator licence of Panoil Petroleum Pte Ltd with effect from 14 August 2017. Panoil Petroleum Pte Ltd will no longer be allowed to operate as a bunker craft operator in the Port of Singapore.
Hellenic Shipping News 

LTA explores on-demand public bus services, trials to start in 2018
The Land Transport Authority (LTA) on Tuesday (Aug 15) said it has called a tender to develop bus services based on commuters’ demand via a mobile application in real time, and trials will start in the second half of next year.
Channel NewsAsia 

Deposit protection limit could rise to S$75,000 – but what if you have more savings than that?
The Singapore Deposit Insurance Corporation (SDIC) said its proposed enhancements seek to make it more convenient for insured depositors to claim amounts above the deposit coverage limit from the liquidator.
Channel NewsAsia (video)

Singapore bank stocks battered by more O&M bad news
SINGAPORE banks’ exposure to the oil and gas sector is back in the spotlight after the surprise suspension of Ezion Holdings and heavy quarterly losses – totalling almost S$1 billion – suffered by Nam Cheong and Marco Polo Marine.
The Business Times 

Hassle to buy insurance for older cars in Singapore, says expert of Budget Direct Insurance Singapore
Buying insurance for older cars can still be difficult despite record numbers of COE renewals, according to Simon Birch, CEO of Budget Direct Insurance.
Asia One 

4 partnerships forged to give Belt & Road a boost
FOUR partnerships were launched at the Singapore Regional Business Forum on Tuesday to give the Belt and Road Initiative (BRI) a boost.
The Business Times

Ribena recalls cordials due to faulty bottling
The distributor of Ribena beverages in Singapore has voluntarily withdrawn specific batches of its concentrate products after a faulty bottling machine in a Malaysian factory let air into some bottles, potentially spoiling the cordials before the stated expiry date.
The New Paper 

S$970m Tampines en-bloc deal poised to be biggest in a decade
In what could be the biggest collective sale of a former Housing and Urban Development Company (HUDC) estate since 2007, a bid for Tampines Court came in for S$970 million yesterday — above the asking price of S$960 million.
Today Online 

Quarterly career fair for NSFs goes digital with 6,000 job offers online
To better help full-time national servicemen (NSFs) who are completing their stint enter the workforce, a career fair has taken things up a notch by offering job listings and other services online for the first time.
Today Online 

Carousell listing offers to alter private-hire car decals
Barely two weeks after private-hire cars were required to put up decals to identify themselves as providing chauffeured services, a seller started touting his services online to “modify” the decals such that they become removable, at S$30 a pop.
Today Online 

ST Engineering completes 100% stake buy in Aethon
Singapore Technologies Engineering Ltd (ST Engineering) welcomes Aethon, Inc. (Aethon) to its Land Systems segment after it completed its 100% interest acquisition.
Singapore Business Review 

China firms’ expansion a double-edged sword for Asia’s VC scene: Wei Hopeman
Asia can leapfrog the West in financial technology (fintech) areas such as mobile payments and China is leading the pack with its connected ecosystems, says Arbor Ventures managing partner Wei Hopeman.

Singapore eDevelopment Ltd (40V.SI) Share Activity Climbing in Session
Shares of Singapore eDevelopment Ltd (40V.SI) have seen the needle move -12.90% or -0.008 in the most recent session. The SES listed company saw a recent bid of $0.054 on 25000 volume.
Dasher Business Review 

Singapore: SingX raises $4.5m; Y Ventures launches JV with Tocco Toscano
Remittance firm SingX has raised $4.5 million in a pre-Series A round while Y Ventures Group has launched a joint venture firm.

Why Australian startup founders are escaping to Singapore
Talk to anyone in an Australian startup and almost all will be keen to remind you how the federal government is still dragging its feet when it comes to supporting the sector.
Business Insider 

We are not done building Singapore yet: Lawrence Wong
Singapore may already look “built-up” but major infrastructure projects that will unfold here over the next 10 years will put the economy on an even stronger footing, said Mr Lawrence Wong, Minister for National Development and Second Minister for Finance, yesterday.
The Straits Times (paywall)

Singapore buildings ‘can withstand tremors from strongest quake’
When an earthquake of magnitude 6.7 hit Sumatra at the weekend, Singaporeans living in residential areas such as Sengkang and Tanjong Rhu felt the earth move.
The Straits Times (paywall)

Introducing AURA, the room service robot
What’s your favorite hotel perk: Is it the swanky gym, the fluffy pillows, the opulent spa? Or maybe it’s the simple but luxurious treat that is room service. After all, once you’ve ordered an indulgent breakfast in bed, it’s hard to go back to making it yourself.

Former employees jailed for stealing more than S$5m from Stat Boards co-op
Two former employees of the Singapore Statutory Boards Employees’ Co-operative Thrift and Loan Society (SSBC) were convicted on Tuesday (Aug 15) of committing “a massive public institutional fraud” that went undiscovered for six years and netted the women a staggering S$5,111,828.
Channel NewsAsia 

When flu turns fatal
Despite nursing a flu, the 38-year-old workaholic had continued to push herself to work, making multiple overseas trips for business meetings. What started as a fever and body aches almost killed her when the bug attacked her heart.
Today Online


Feature photo cegoh
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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