Singapore Morning News For December 20

Singapore Morning News For December 20
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Singapore morning news1MDB scandal: Singapore issues more financial bans
Singapore’s central bank said on Tuesday (Dec 19) it has issued more financial bans in its 1MDB investigation.
Channel NewsAsia 

Singapore issues cryptocurrency warning
Singapore Tuesday issued a warning about cryptocurrencies after a recent surge in prices sent investors flocking to bitcoin.
The Star Online 

Singapore’s deepest tunnel system almost ready, will ensure reliable electricity supply
A warren of giant tunnels which will safeguard Singapore’s electricity supply for the future has been completed.
The Straits Times (paywall)

China firmly believes in path of peaceful development: Senior Chinese official
China firmly believes it must adhere to a path of peaceful development where different cultures co-exist in today’s world, said Mdm Yan Junqi, vice-chairwoman of the Standing Committee of China’s National People’s Congress.
Channel NewsAsia (video)

Proposed amendment to Films Act will allow the police to search your home without a warrant
The Info-Communications Media Development Authority (IMDA) is due to make some drastic changes to the Films Act soon. The Authority proposed several amendments to the Act earlier this month, one of which would give the police powers to search homes without a warrant.
The Independent Singapore 

Singapore competition panel urges more transparency in petrol pricing
THE Competition Commission of Singapore has called for greater transparency in the retail petrol market to allow motorists to make more informed purchases.
The Business Times

Singapore’s IP Office to Grant Merck’s Patent Application for CRISPR Technology
Merck, a leading science and technology company, today announced that the Intellectual Property Office of Singapore has issued a “Notice of Eligibility for Grant” for Merck’s patent application covering the company’s CRISPR technology used in a genomic-integration method for eukaryotic cells.

Singapore ride-hailing app Grab launches service in Kingdom
Ride-hailing giant Grab has officially launched operations in the Kingdom, entering its eighth country in Southeast Asia and a market shared with American-owned rival Uber and several already entrenched local platforms.
The Phnom Penh Post 

Exclusive: STI Financial Group acquires 35% stake in Singapore’s Global Movers
Hong Kong-based asset manager STI Financial Group (STI), which provides bespoke capital solutions that focus primarily on fragmented middle-market companies in Asia, has acquired a 35 per cent stake in Global Movers Inc (GM). The firm declined to disclose the financial terms of the transaction.

How a 77-year-old Singapore CEO fixed a S$100 million blunder
In 2015, Mr Yao Hsiao Tung was 75 and looking to slow down. He’d begun seeking his successor as chief executive officer of Hi-P International Ltd., a contract manufacturer for customers including Apple Inc. and Inc.
Today Online app extended to motorcyclists and heavy vehicle drivers
Motorcyclists and drivers of heavy vehicles can use a smartphone app to pay at public carparks that now take paper coupons from today.
The New Paper 

Khaw Boon Wan will be Acting Prime Minister while PM Lee is away on overseas leave
Transport Minister Khaw Boon Wan will, from today, serve as Acting Prime Minister while the head of government, Lee Hsien Loong, is away on overseas leave.
The Independent Singapore 

What will happen to Singapore’s ageing cables, and how the cable tunnel serves the future
Eight circuits of the power cable network, which were built in the 1980s, will soon become too expensive to maintain and will be left in place while being gradually replaced with the new tunnel system.
The Straits Times (paywall)

Singapore’s SingHaiyi Group To Sell U.S. Real Estate Project For $95.3 Mln
SingHaiyi Group, a Singapore-based property developer, said Tuesday it has entered into an agreement for the bulk sale of its entire Vietnam Town Phase II units in the U.S. for $95.3 million (S$128.3 million).
Nikkei Asian Review app to be available for motorcycles, heavy vehicles from Dec 20
Motorcyclists and motorists driving heavy vehicles will be able to use the app from Wednesday (Dec 20) to pay for parking at all 1,100 public car parks that currently use paper coupons.
Channel NewsAsia 

Mobile app for comparing petrol prices being considered: Competition watchdog
The Competition Commission of Singapore (CCS) said on Tuesday (Dec 19) that while it cannot find evidence of collusion between petrol retailers in Singapore, “there is scope to increase the transparency of effective retail petrol prices”.
Channel NewsAsia (video)

OCBC private banking arm to hire 20 relationship managers in Dubai
Bloomberg reports that the private-banking arm of OCBC is adding more staff in Dubai, as the Singapore lender seeks a greater role managing the money of the Middle East’s wealthy and of Indians living overseas.
Singapore Business Review

Suspects charged in S$40m SkillsFuture claims scam
Five suspected members of a criminal syndicate have been charged with a series of offences, which resulted in close to S$40 million in fraudulent claims being paid out by SkillsFuture Singapore (SSG).
Channel NewsAsia

Singapore’s Scoot airline makes its debut flight to Honolulu
Scoot, a low-cost airline out of Singapore, made its inaugural flight to Honolulu this morning.
Star Advertiser 


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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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