Singapore Morning News For July 7

Singapore Morning News For July 7
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Broadband firm MyRepublic plans IPO by 2018-end
Singapore-based broadband services provider MyRepublic plans to launch an initial public offering (IPO) by the end of 2018 and is in the process of raising a S$100 million ($72.2 million) pre-IPO round.

Singapore Luxury Home Prices Show Recovery Signs, Developer Says
Singapore’s luxury home prices, which have been the worst hit by the government’s property curbs in recent years, are finally showing signs of a recovery, according to developer Guocoland Ltd.

MSIG, DBS launch Singapore’s first instant travel claims payment service
MSIG Insurance and DBS Bank have launched Singapore’s first instant electronic payment service for travel insurance claims. MSIG is the first to tap the DBS’s real-time payment service, using technology to focus on initiatives that will improve customer experience.
The Business Times 

Singapore Tops First Asia-Pacific University Rankings: Malaysia Rising
Five Asean countries are represented in the first edition of the Times Higher Education (THE) Asia-Pacific University Rankings, with Singapore taking the first (and fifth) spot for the entire Asia-Pacific region. Asean’s third highest ranked university is Thailand’s Mahidol University (MU), while Malaysia is making its presence felt with seven universities listed in the top 800.
— AEC News Today

Noble Group Jumps in Singapore Amid Speculation of Stake Build
Noble Group Ltd., the commodity trader that’s struggling for survival after a multiyear stock rout and concerns it may default, surged in Singapore, with shares hitting their highest close since May amid speculation that large investors may be building stakes.

PM Lee and Chinese President Xi affirm bilateral ties
Prime Minister Lee Hsien Loong and Chinese President Xi Jinping on Thursday (Jul 6) affirmed the two countries’ substantive bilateral relationship, frequent high-level exchanges and good progress made in bilateral cooperation, the Singapore Prime Minister’s Office (PMO) said in a statement.
Channel NewsAsia 

Bike-sharing firm Ofo raises over $700m in Alibaba-led Series E
Marking the largest such round in the industry to date, bike-sharing platform Ofo has raised over $700 million in its latest financing deal led by Alibaba Group, Hony Capital and CITIC Private Equity.

Government of Singapore Investment Corp acquires 6.2 per cent stake in Gayatri Projects
Government of Singapore Investment Corp (GIC) on Thursday acquired 6.2 per cent stake in infrastructure company Gayatri ProjectsBSE 11.01 % through a block deal. GIC brought 1.1 crore shares of Hyderabad based infra company at a price of Rs 150 per share valuing the deal at Rs 165 crore. Shares of Gayatri Project surge 11 per cent to Rs 168.95 on Thursday.
The Economic Times

ION Orchard fined S$15,000 over customer data breach
The company that manages ION Orchard was on Thursday (Jul 6) fined S$15,000 by the Personal Data Protection Commission (PDPC) over a breach involving the personal data of its customers.
Channel NewsAsia 

Family feud sullies Singapore’s clean image
The public feud pitting members of Singapore’s first family shows no signs of abating despite Prime Minister Lee Hsien Loong’s best efforts to end the episode after a two-day debate in Parliament focused on allegations he has abused his executive power.
Asia Times 

Singapore, Germany to embark on new areas of cooperation: PM Lee
Singapore and Germany on Thursday (Jul 6) signed a joint declaration on strengthening cybersecurity cooperation to deepen information exchange between the two countries.
Channel NewsAsia

National Day Parade 2017 to feature 300 unmanned drones
Three hundred unmanned drones will take to the skies at the National Day Parade (NDP) for the first time in the parade’s history, organisers said on Thursday (Jul 6).
Channel NewsAsia 

Big retailers are taking their flight to suburban malls
Large mid-tier fashion labels are increasingly expanding their presence in suburban malls, centrally located malls begin to lose their attraction.
Singapore Business Review 

GIC hires from Standard Chartered for its Singapore ‘innovation lab’
GIC has hired a Standard Chartered director as it starts to expand its innovation lab in Singapore.

Bike-sharing war in S’pore goes up a gear
COMPETITION is hotting up among bike-sharing companies in Singapore – in a manner reminiscent of the extravagant war among ride-sharing apps here in their heyday, and prompting fresh concerns about the sustainability of the sharing economy.
The Business Times 

World’s first listed social bond draws private banking clients
SINGAPORE’S budding market for social and sustainability bonds took another step forward on Thursday with an US$8 million issuance of 5.65 per cent four-year Women’s Livelihood Bonds by Impact Investment Exchange (IIX) to be listed on the Singapore Exchange (SGX).
The Business Times 

Hsien Yang, Wei Ling to stop posting evidence on social media
THE two siblings of Prime Minister Lee Hsien Loong have agreed to accept their elder brother’s desire to settle their very public feud in private, and will stop posting further evidence online for now.
The Business Times 

Govt studying proposal to take over running of ElderShield
The Government is studying the possibility of taking over the running of ElderShield, following a proposal from a committee reviewing the national insurance scheme for the long-term care sector here.
Today Online

Singapore’s Temasek, Unigrains pick stake in malt producer Boortmalt
French cooperative Axereal said on Wednesday Singapore’s state investor Temasek and French farmer-controlled investment fund Unigrains had taken a stake in its Boortmalt unit, the world’s fifth largest malt producer, through a capital increase.

Jade Circle nursing home project revived
The Jade Circle nursing home project, which was shelved in 2015, has been revived and is expected to be ready by the end of 2019.
Today Online 

Old police station site on Beach Road up for sale for at least $1.14b
A Beach Road commercial site that includes the area’s old police station is finally hitting the market for sale.
The New Paper

Fewer students list law as top uni choice
Figures provided by the National University of Singapore (NUS) and Singapore Management University (SMU) show a drop in the number of students listing law as their first-choice course.
The New Paper 


Feature photo Atelierdreiseitl
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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