Singapore Morning News For June 2

Singapore Morning News For June 2
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Singapore morning news

Local start-up to launch Singapore’s first e-scooter sharing service
The New Paper has learnt that local start-up Telepod will be launching its e-scooter sharing service on Monday with 10 e-scooters available for rent -a first in Singapore.
The New Paper 

Services sector grows in slow, uneven pace
Maybank reported that actual GDP expanded by 2.7% in the first quarter of 2017 from a year ago, a small upward adjustment from the 2.5% flash estimate and moderating from 2.9% in 4Q16. On a quarter-on-quarter seasonally adjusted annualised basis, GDP fell by 1.3% from the fourth quarter, reversing the 12.3% surge in 4Q16.
Singapore Business Review 

Singaporeans urged to be alert as terror threat level ‘remains high’
The terror threat to the Republic remains at its highest in recent years, the Ministry of Home Affairs (MHA) said on Thursday (June 1) as it issued its first-ever national terrorism threat assessment report.
Today Online 

Singapore’s Mundipharma to acquire brands as part of Thai growth push
Singapore-based pharmaceutical company Mundipharma expects to complete another acquisition of a consumer product brand in Thailand within this month, the company’s chief executive Raman Singh told DEALSTREETASIA without disclosing the financial terms.
– Deal Street Asia

Singapore’s average peak internet connection speed fastest globally
Peak speed of 184.5 Mbps is recorded in Singapore in Q1.
Singapore Business Review

PACC, Ezion to facilitate delivery of largest offshore facility ever made
According to a report by OCBC, Shell’s Prelude FLNG, the world’s largest offshore facility ever constructed, is set to launch from Singapore in late June thanks to contributions by PACC Offshore Services Holdings, Ezion Holdings, and Samsung Heavy Industries. The facility is projected to arrive at its destination in Australia after a two-month journey.
Singapore Business Review 

Ourcrowd backs Wave’s $24m strategic round
Wave, a provider of financial management software for entrepreneurs and small business owners, has closed a $24 million strategic funding round from companies including National Australia Bank (NAB), Royal Bank of Canada (RBC), Portag3 and Exhibition Capital.
– Deal Street Asia

Singtel, Telkomsel launch real-time mobile remittance service
Singtel and Telkomsel launched a real-time mobile remittance service for Indonesia. Offered by SingCash under the Singtel Dash brand, this service allows customers in Singapore to send money to PT Pos Indonesia’s 4,500 cash-out points across the country via Weselpos Instan. This is an enhancement to the current facility that lets customers send money to Indonesian bank accounts.
Singapore Business Review

IE Singapore, Spring back S$380m lifeline to battered O&M sector
THE Singapore government has backed about S$380 million of loans extended by banks to the beleaguered marine and offshore engineering industry (M&OE) under two schemes announced last November.
The Business Times 

MCL Land bags Eunosville for S$766m, boosting YTD en bloc sales to S$1.5b
IN THE third biggest collective sale in Singapore, Hongkong Land’s fully-owned unit MCL Land has clinched the Eunosville site through a collective sale, at a price of S$765.78 million.
The Business Times 

Tuan Sing upsizes bond offering by 25% to S$150m
TUAN Sing Holdings has raised the size of a bond offering to S$150 million from S$120 million to accommodate demand from investors, the property developer said on Friday before the market opened.
The Business Times 

Patrons concerned by stalls without halal certification at Geylang Serai Bazaar
Earlier this week, 22 unlicensed food handlers and illegal workers were nabbed in a joint raid by the Ministry of Manpower, National Environment Agency and Singapore Police Force.
The New Paper

Ascendas REIT sells 10 Woodlands Link property for $19.3m
According to RHB, Ascendas REIT (A-REIT) announced the divestment of its 10 Woodlands Link (formerly NNB Building) property to Sengkang Import & Export Pte Ltd for $19.3m. The buyer is a licensed importer of rice and various food products. The property is located in Woodlands East Industrial Estate, and is a light industrial building comprising a three-storey warehouse.
Singapore Business Review 

Bank of Singapore reshuffles senior management
Bank of Singapore has made several changes to its management ranks as it looks to penetrate further into Greater China.

Here’s why the worst could be over for Frasers Centrepoint
According to a report from DBS, Frasers Centrepoint Limited (FCL) and and its four listed REITs – Frasers Centrepoint Trust (FCT), Frasers Commercial Trust (FCOT), Frasers Logistics & Industrial Trust (FLT) and Frasers Hospitality Trust (FHT), are all expected to deliver consistent returns in the coming years, leveraging on the improved outlook of their key markets of Australia and Singapore.
Singapore Business Review 

Ascott REIT buys hotel chain DoubleTree by Hilton for $106m
Ascott Residence Trust (Ascott REIT) has bought the DoubleTree by Hilton Hotel New York – Times Square for $106 million (S$148.4 million), its third prime property acquisition in two years.
– Deal Street Asia

Singapore welcomes first Hilton Garden Inn
Hilton Garden Inn, Hilton’s upscale global brand of hotels, announced its entry into Singapore with the opening of Hilton Garden Inn Singapore Serangoon. The hotel brings 328 new rooms to the Hilton Garden Inn brand.
Travel Daily News 


Feature photo Leakhena Khat
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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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