Singapore Morning News For March 29

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.

Services productivity worsened in 2016
Services productivity worsened in 2016, with average cost of labour per unit of output rising 3.9% amidst slow services activities.
— Singapore Business Review

SingTel aggressively moves to be an integrated telecoms service provider
SingTel is positioning itself as an integrated telecoms service provider by forming key partnerships with over-the-top (OTT) and digital service providers to improve the consumer experience, targeting key growth areas such as content, cybersecurity, and Internet of Things.
— Singapore Business Review

10,000 public servants to receive data science training under GovTech-NUS tie-up
About 10,000 public servants will receive data science training to quicken Smart Nation efforts.
— The Straits Times

Singapore Plans to Ratify TPP
Singapore will push forward to ratify the Trans-Pacific Partnership, a change from other nations taking a wait and see approach after President Donald Trump withdrew the U.S. from the trade agreement.
— AgNet West Radio Network

Singapore-based Henry Golding lands lead role in Crazy Rich Asians film: Report
Singapore-based Henry Golding has landed a lead role in the film adaptation of Crazy Rich Asians, according to a report by the Hollywood Reporter.
— Channel NewsAsia

Construction activities in Singapore to grow 0.8% this year
RHB expects construction activities to grow 0.8% this year, on the back of a low base effect, ramp-up of ongoing infrastructure projects, and accelerated public civil works as announced in the Budget.
— Singapore Business Review

Singapore: Trendlines Labs secures $200k; JDE controls Super Group; Nam Cheong JV
Trendlines Lab has secured a grant from SIIRD, JDE now owns most of Super Group and Nam Cheong has launched a Malaysian JV.
— Deal Street Asia

Softening of medical tourism nudges health groups overseas
SINGAPORE’S medical tourism has not been in the pink of health of late, with well-heeled medical tourists now looking elsewhere for health care, where standards have risen and treatment comes at more competitive prices.
— The Business Times

S’pore’s tertiary bodies revamp courses to meet needs of future economy
LOCAL institutes of higher learning (IHLs) appear to be ramping up their game in enhancing programmes to meet the needs of Singapore’s future economy.
— The Business Times

SG: TGL’s chairwoman offers to buy out company at 33 cents per share
SW International Holding Pte Ltd has offered to buy out all outstanding shares of Singapore Exchange-listed property group Top Global Limited (TGL) at 33 cents apiece in cash, the latter announced Tuesday.
— Deal Street Asia

Train signalling trial goes smoothly; SMRT to hold another on Thursday
Rail operator SMRT will carry out another trial of its new signalling system on the North South Line (NSL) on Thursday (March 30), after a temporary switchover on Tuesday went smoothly, with trains running on the new system for more than an hour before services ended at night.
— Today Online

Doctors seek clearer rules on MCs for foreign workers
The medical fraternity has called for guidelines on the issuing of medical leave for foreign workers.
— Today Online

Singapore shares open 0.28% up on Wednesday
SINGAPORE shares opened higher on Wednesday with the Straits Times Index (STI) up 8.95 points, or 0.28 per cent, to 3,166.77 as at 9am. US stocks ended sharply higher overnight, led by financial and energy shares amid data that US consumer confidence has soared to a more than 16-year high. The Dow Jones Industrial Average snapped an eight-day losing streak.
— The Business Review

Pet shops, farms to face tighter licensing conditions
The Agri-Food and Veterinary Authority of Singapore (AVA) has revised its licensing conditions for pet shops and farms to “tighten existing regulations and raise animal welfare standards in Singapore”.
— Today Online

Fire Breaks Out at Samsung Store in Singapore One Day Before Galaxy S8 Launch
A fire broke out in the stockroom of a Samsung store in Singapore just one day before the South Korean company is set to unveil its highly-anticipated Galaxy S8 smartphone.
— Fortune

Singapore companies rebrand themselves by adopting trendier names
Some established companies are rebranding themselves by adopting trendier names as they eye overseas markets
— The Straits Times

Singapore CPI expected to climb 1.2% in 2017
Inflation has been on a rising trend since December, noted RHB Research, with the island’s consumer price index (CPI) rising 0.6% year-on-year over 2M17, compared to a 0.7% fall in the corresponding period last year.
— Singapore Business Review

Singapore’s current account surplus projected to hit $80.3b in 2017
According to RHB Research, Singapore recorded a balance of payments deficit of S$3.9b in 4Q16, recoiling from its S$5.4b surplus achieved the quarter before.
— Singapore Business Review

Singapore not ready for ‘radical’ IPOs like Snap, says local exchange
Snap’s controversial “no vote” shares have spurred a debate over the merits of dual-class stocks, and the Singapore Exchange (SGX) — which is striving to become the first Asian market to allow such a structure — said it would not consider a listing as “radical” as Snap.
— CNBC

India needs to recognize import demand: Report on Singapore trade pact
India’s exports must be in line with demands from trade partners, a report looking at the nation’s current trade deal with Singapore has pointed out.
— Business Standard

Chart of the Day: Here’s where our semiconductors go
Semiconductor exports in 2016 largely went into Chinese mid-tier phones.
— Singapore Business Review

With India demanding greater access, CECA with Singapore stays stuck for the 6th year now
The second review of the India-Singapore Comprehensive Economic Cooperation Agreement (CECA) to boost two-way trade remains inconclusive despite efforts to expedite the process.
— The Financial Express

Daily Briefing: Not all HDBs are for SERS; Finance tips from Budget 2017
And find out more about Singapore Deposit Insurance Corporation.
— Singapore Business Review

Who are the winners and losers in Singapore’s services sector?
Services activities slowed to +1% in 2016, after growing 3.2% the year before.
— Singapore Business Review

Singapore Approves Japanese Shipping Merger
The Competition Commission of Singapore has cleared the proposed joint venture between Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines (MOL) and Kawasaki Kisen Kaisha (K-Line).
— Maritime-Executive

Feature photo Bernd Hildebrandt
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Singapore morning news is published M-F by AEC News Today: Governance, not government; policies not politics.

Singapore Morning News For March 29 added by Leakhena Khat on March 29, 2017
View all posts by Leakhena Khat →

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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.