Singapore Morning News For August 23

Divers find human remains on damaged US destroyer
Divers yesterday found human remains as the search-and-rescue (SAR) efforts for the 10 missing United States Navy personnel of the USS John S. McCain entered a second day.
— The New Paper

Alipay targeting Singapore consumers
ALIPAY, China’s giant mobile payment provider, has its eyes trained on Singapore with plans to offer its payment platform soon to users here.
— The Business Times

Coca-Cola, PepsiCo and Nestlé to limit sugar in Singapore drinks
Coca-Cola, PepsiCo and Nestlé are among seven soft-drink makers that have agreed to limit the amount of sugar they use in beverages sold in Singapore, marking the latest campaign from a health regulator to fight diabetes by targeting sweet drinks.
— Financial Times

7 major soft drinks manufacturers in Singapore to reduce sugar content in drinks
Seven major soft drinks manufacturers have agreed to reduce sugar content in all their drinks here to 12 per cent and below by 2020, the Ministry of Health (MOH) said in a statement on Monday (Aug 21).
— Channel NewsAsia

Signapore electronic distributor invests into durian business
Electronic components distributor Serial System is diversifying into the durian business.
— Fresh Plaza

CapitaLand to manage Alibaba’s new Shanghai HQ, launch online mall on Lazada
CapitaLand announced on Wednesday (Aug 23) a strategic alliance with China’s Alibaba, Asia’s largest e-commerce company, with agreements to manage its new Shanghai headquarters and launch an online mall on Lazada Singapore.
— The Straits Times (paywall)

Singapore firms ink deals to ride tech and consumer wave in Guangdong
SINGAPORE companies in sectors ranging from logistics and education to jewellery retail inked agreements on Tuesday to tap on consumer and technology-related opportunities in Guangdong, China.
— The Business Times

PayNow fund transfer process streamlined
More than 500,000 people have registered to use PayNow, a new instant fund-transfer system that does not require users to enter bank account numbers – traditionally a bugbear for those using e-payments.
— The New Paper

Singapore’s long game in innovation
Innovation may be the buzzword today but for Singapore’s economic planning agencies, our journey in fact began two decades ago.
— The Straits Times (paywall)

Singtel’s losses from Group Digital Life narrows to $24m in Q1
Singtel’s Group Digital Life managed to narrow its losses for the second quarter of the year from $36m to $24m.
— Singapore Business Review

Low-sugar drinks alone won’t help if not combined with other diet choices: Experts
There are many factors affecting an individual’s sugar intake, and it would be hard to assess the impact of the move to get major beverage companies to produce low-sugar drinks, doctors said.
— Today Online

Fund managers keep dancing even as September jinx looms
SEPTEMBER is approaching, with its reputation as the worst month in history for US stocks, which lead sentiment in Asia. Yet many money managers continue to dance.
— The Business Times

ComfortDelGro in talks with Uber to help manage taxi fleet
COMFORTDELGRO, Singapore’s biggest taxi operator, is thinking of car-pooling with its competitor and ride-hailing heavyweight Uber.
— The Business Times

‘Stop blaming trade and protecting obsolete jobs’
SINGAPORE’S Foreign Minister Vivian Balakrishnan called on the US and China to avoid a trade war while urging nations to stop trying to protect obsolete jobs.
— The Business Times

Singapore: GLP acquires Hallmark International Investment for $121m
Global Logistic Properties (GLP) has acquired Hallmark International Investment Limited for a consideration of approximately $121.64 million (S$165.7 million) through an indirect subsidiary, CLF2 Singapore Pte. Ltd.
— DealStreetAsia

Iconic Hindu temple under criminal probe
The Commercial Affairs Department (CAD) and the Commissioner of Charities (COC) is looking into the way the Serangoon Road temple is being run.
— The New Paper

Polys join war against diabetes with nutrition courses for public
To help Singaporeans manage diabetes, local polytechnics are launching short courses for the public on disease and nutrition management in the upcoming months.
— The New Paper

Gender wage gap barely closed in 11 years
The gender income gap in Singapore has not improved at all for 11 years, according to a report by analyst firm ValuePenguin.
— Singapore Business Review

Three trends seen in REITs’ Q2 earnings reports
Analysts at OCBC Investment Research said REITs under their coverage reported results within expectations, with distribution per unit growth clocking in a flat growth for the past quarter.
— Singapore Business Review

Singapore property’s next ‘Sail’ moment not on the horizon
ALMOST exactly 13 years ago, Kwek Leng Beng, the billionaire chairman of City Developments Ltd, then Singapore’s biggest builder by market value, did something outlandish.
— The Business Times

Singapore plans to move away from grants to start-ups
In a move that could be considered by Irish support agencies, Singapore’s government says it will support technology start-ups by doing business with them rather than having them rely on grants.
— THE IRISH TIMES

Singapore’s demand for Indian vegetables grows
Vegetables grown in Tamil Nadu, India have become a favourite commodity in Singapore, given the huge volume of export to the South-East Asian nation every month.
— Fresh Plaza

Asia PE-VC Summit 2017 Special: Will 2018 be the year that Southeast Asia delivers on its promise?
Southeast Asia is witnessing a strong 2017, with overall deals – including M&A, PE/VC and IPO – in the first half up 25 per cent on a year-on-year basis. The region saw 818 deals worth $63.3 billion in H1.
— DealStreetAsia

Commentary: Behind picture-perfect supermarkets in Singapore is looming waste
Singapore is famous for her delicious cuisine yet faces a serious food waste problem.
— Channel NewsAsia

Some flights from Singapore to HK cancelled due to Typhoon Hato
A number of flights from Singapore to Hong Kong this morning have been affected as Typhoon Hato approaches the island.
— The Straits Times (paywall)

Feature photo newtjitsu
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.

Singapore Morning News For August 23 added by Leakhena Khat on August 23, 2017
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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.