Singapore Morning News For June 23

Singapore Morning News For June 23

Singapore morning news

The $100 Billion City Next to Singapore Has a Big China Problem
The $100 billion city rising from the sea next to Singapore has hit a roadblock: China’s capital controls.

Singapore: Qualgro spins out $50m ASEAN-focused fund from Gordian Capital platform
Qualgro and Gordian Capital today announced the spin out of the QUALGRO ASEAN FUND I, L.P. from the Gordian Capital platform. Since 2005, Singapore-based Gordian Capital has provided a regulated, physical and operational infrastructure for institutional quality teams seeking to launch Private Equity, Venture, Capital, Real Estate, Private Credit and hedge funds.
Deal Street Asia 

Business email impersonation scams on the rise, police warn
Scams involving spoofed business email addresses are on the rise, with victims being deceived into transferring money to foreign bank accounts for business payments.
Channel NewsAsia 

S’pore financial sector, O&M layoffs likely to ease: report
EMPLOYMENT conditions in Singapore are expected to improve later this year as the drag from sharp retrenchments in financial services and oil and gas-related sectors ease, while a property recovery is not on the cards yet, said the latest report by the Institute of Chartered
The Business Times 

SMEs expect weak profitability for the next 6 months
SMEs expect a small lift in revenue during the second half of 2017 in anticipation of stepped up activities relating to the year-end festive season. As a result, SMEs are slightly more optimistic about the next six months.
Singapore Business Review 

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SE Asia yet to deliver on PE growth potential but investors optimistic: Bain & Co
Data present the right picture, and Sebastien Lamy, Partner, Bain & Company, uses numbers to make a point, when he says Southeast Asia hasn’t fully delivered in its growth potential for private equity.
Deal Street Asia 

New advisory panel to study ways to develop family-friendly transport in Singapore
A new advisory panel has been formed to make recommendations on making the public transport system more family friendly, Senior Minister of State for Transport Lam Pin Min announced on Thursday (Jun 22).
Channel NewsAsia 

Singapore signs multilateral deals to enhance information exchange
The Ministry of Finance announced that the city-state will be signing the Multilateral Competent Authority Agreements (MCAAs) on the Automatic Exchange of Financial Account Information under the Common Reporting Standard (CRS) and the Exchange of Country-by-Country (CbC) Reports.
Singapore Business Review 

Singapore: The Edge Property secures $4m investment
The Edge Property, a property portal launched two years ago by Malaysian serial entrepreneur Tong Kooi Ong, has secured a $4 million investment from a number of individual investors.
Deal Street Asia 

Singapore to set up advisory panel for family-friendly transport system
A family friendly public transport system is what pushed Singapore to set up an advisory panel solely to look if it is a possibility.
Singapore Business Review 

Singapore ranks as fifth costliest city for expats
Singapore remained as one of the most expensive cities for expatriates, Mercer’s annual Cost of Living Survey revealed.
Singapore Business Review 

Singaporean firm to build platform for Malaysia’s life insurers
A unit of Singapore-based tech firm Silverlake Axis has won a contract to develop a digital platform for life insurance and takaful providers in Malaysia.

Slowest quarterly hiring outlook expected in Q3
In the latest Employment Outlook Survey by ManpowerGroup, it was revealed that out of the 632 Singaporean employers surveyed, only 8% expect to increase their hiring plans in the third quarter of this year (Q3 2017) while 4% predict a decrease in headcount. This puts the net employment outlook for Singapore at +4%, the least optimistic forecast reported by local employers since 2009.
Singapore Business Review 

Eat my digital dust: Singapore firms beat Hong Kong rivals in online marketing
A study by WL Media HK found out that Singapore businesses are three times more likely to be switched on to Internet Marketing than their rivals in Hong Kong.
Singapore Business Review

Heady markets belie lingering uncertainty
THE financial markets are likely underestimating tail risks that include elevated political uncertainty, even as the global economy is in a better shape than it has been in a long while, said the managing director of the Monetary Authority of Singapore Ravi Menon.
The Business Times 

Domestic helper a suspect in Bedok double murder case
A female Indonesian domestic helper is believed to have killed the elderly couple in their Bedok Reservoir Road home, although their neighbours were not aware that the couple were living with anyone else.
Today Online 

Security firms may get help to spot those likely to be radicalised
Following the arrests of two auxiliary police officers for terrorism-related offences, the trade association for the security sector is crafting a set of “guidelines and tell-tale signs” to help private agencies identify potentially radicalised individuals.
Today Online 

Trade body to promote guidelines for private security agencies to identify radicalised individuals
The Security Association of Singapore on Thursday (Jun 22) said it will be promoting a set of guidelines and tell-tale signs for private security agencies to use to identify potentially radicalised individuals, in light of the recent action against two AETOS auxiliary police officers.
Channel NewsAsia 

Here’s how Singapore provides high-quality health care at low costs
After weeks of closed-door meetings, Senate Republicans on Thursday unveiled a draft of their plan to overhaul the US health system.

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Where is Singapore in its War on Fake News?
This week, Singapore’s Home Affairs and Law Minister K Shanmugam made headlines when he suggested that the city-state may introduce new legislation to tackle fake news next year. His comments, made during a keynote speech at a conference on the subject, reflect the growing concerns in both the city-state and the region more generally about the threat.
The Diplomat

Singapore’s interests are not served by rushing to judgments
While some of the actions taken by the Donald Trump administration have dealt a blow to American credibility, it is wrong to suggest that nothing the new United States government has done is right, said Ambassador-at -Large Bilahari Kausikan.
Today Online 

Singapore as First Southeast Asian Destination for Lufthansa’s A350-900
German air carrier Lufthansa is introducing a new service to and from Singapore. It will be available five times a week with the most modern long-haul aircraft of the world, the Airbus A350-900.
Finews Asia 

Singapore law firm in global top 30
WongPartnership became the only Singapore firm ranked on the Global Restructuring Review’s (GRR) global top 30 law firms list for insolvency and restructuring.
The Straits Times (paywall)

China Aviation Oil (Singapore) Corporation Ltd (SGX:G92) Valuation in the Spotlight
The ERP5 Rank is an investment tool that analysts use to discover undervalued companies. The ERP5 looks at the Price to Book ratio, Earnings Yield, ROIC and 5 year average ROIC. The ERP5 of China Aviation Oil (Singapore) Corporation Ltd (SGX:G92) is 9391. The lower the ERP5 rank, the more undervalued a company is thought to be.
Dasher Business Review 


Feature photo Leakhena Khat
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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