Singapore Morning News For November 7

Singapore Morning News For November 7
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Singapore morning newsSingapore-Thailand Defense Relations in the Spotlight With Ng Visit
This week, Singapore’s Defense Minister Ng Eng Hen is in Thailand for a three-day working visit. Ng’s trip has put the Singapore-Thailand defense relationship in the spotlight from a bilateral as well as a broader regional perspective.
The Diplomat 

Singapore’s Central Bank Chief Has a Warning for Fintech Investors
That’s the message Monetary Authority of Singapore Managing Director Ravi Menon has for pundits and investors trying to navigate the wave of technology euphoria sweeping the financial services industry.

Singapore ranked world’s priciest city for fourth consecutive year
Singapore has been ranked the most expensive city in the world for expatriates for the fourth consecutive year, according to a report published on Monday by the Economic Intelligence Unit, EIU.
Premium Times 

Cyber security critical concern of Singapore companies but not ranked high in board focus: Survey
While cyber security is a major concern at nine out of 10 boards in Singapore, it is not part of strategic discussions at board level.
The Straits Times

Singapore, Thailand to step up maritime cooperation and counter-terrorism efforts
Singapore and Thailand has vowed to work together in areas of mutual interest such as maritime security, counter-terrorism and cybersecurity, the Ministry of Defence (MINDEF) said in a news release on Monday (Nov 6).
— Channel NewsAsia

1 in 5 who used new diabetes risk assessment tool had higher risk for disease: MOH
About 20 per cent, or 8,500 people, of 44,000 who used the Government’s diabetes risk assessment tool were found to be at higher risk for the disease.
Channel NewsAsia 

Higher fines for serious workplace safety lapses
The maximum penalty for safety breaches that could potentially cause death, serious injury or a dangerous occurrence will be raised from S$20,000 to S$50,000.
Channel NewsAsia (video)

Singapore Revokes Transocean Oil’s Bunker License Over Falsification
The Maritime and Port Authority (MPA) of Singapore is revoking the bunker fuel supply license of Transocean Oil at the port of Singapore, effective immediately, after finding “falsifications of records and discrepancies,” MPA said on Monday.
Oil Price 

ICA officers at checkpoints to be given more powers under proposed amendment to Immigration Act
Immigration and Checkpoints Authority (ICA) officers will have the authority to perform security screenings, carry out search and seizure duties and arrest people under a proposed amendment to the Immigration Act.
Channel NewsAsia 

Zero vehicle growth rate will not affect COE prices significantly: MOT
The decision to curb the car and motorcycle population in Singapore will not affect Certificate of Entitlement (COE) prices “significantly”, Senior Minister of State for Transport Lam Pin Min told Parliament on Monday (Nov 6).
Channel NewsAsia

Singapore clamps down harder on unlicensed massage businesses
The Ministry of Home Affairs (MHA) promised “tougher action” against unlicensed massage establishments (MEs) as it enacted new legislation in Parliament on Monday (Nov 6).
Channel NewsAsia

Singapore: Central banker sees echo of web bubble in fintech hype
That’s the message Monetary Authority of Singapore Managing Director Ravi Menon has for pundits and investors trying to navigate the wave of technology euphoria sweeping the financial services industry.

National Service must adapt to changing defence tech, security landscape, MPs say
Rapid changes to military technology as well as terror threats call for fundamental shifts in the way Singapore’s defence force is shaped and trained, Member of Parliament Vikram Nair said on Monday (Nov 6). He urged the authorities to explore “game changers” to help national servicemen (NSmen) keep up with technology.
Today Online 

Singapore is losing Indonesian tourists
Tourist arrivals from Mainland China to Singapore contributed 18.2% to total visitor arrivals, making the country the largest source market for tourism, JLL revealed.
Singapore Business Review 

Gaming firm Razer prices IPO near top end, raises $528m in HK IPO
Razer Inc, a gaming hardware maker backed by Intel Corp and Hong Kong billionaire Li Ka-shing, has priced its initial public offering (IPO) near the top end of the range, raising HK$4.12 billion ($528 million), IFR reported on Tuesday.

New aggregate loan limits proposed to prevent borrowers from racking up huge debts
To prevent people from racking up a mountain of debt, borrowers will be turned away if they have reached their aggregate loan limits — based on income — under proposed changes to laws regulating moneylenders tabled in Parliament on Monday (Nov 6).
Today Online 

Collective sale fever may not lead to higher prices
The recent collective sale frenzy will not necessarily result in higher prices for condominium buyers down the road, Minister for National Development Lawrence Wong said in Parliament yesterday.
The New Paper 

Singapore banks may be past worst of O&G battering
WITH DBS taking a huge provision for its oil-and-gas (O&G) exposure in the third quarter, there is increasing chance that the worst could be over for the lenders from O&G pain.
The Business Times

Visitor arrivals, spend up in 1H; uptrend likely to continue
IN another boost to the economy, tourism receipts and visitor arrivals both grew in the first half of this year, with prospects appearing bright for the second half as well.
The Business Times 

Smartkarma raises US$13 million for overseas expansion
SINGAPORE-based Smartkarma, a subscription-based marketplace for investment research, has raised US$13 million (S$17.7 million) to expand its sales and distribution overseas.
The Business Times

9 in 10 jobseekers will ditch recruitment processes longer than a month
Nine in ten, or 91%, of Singaporean applicants will reject a job offer if the recruitment process took longer than four weeks, Randstad Singapore revealed.
Singapore Business Review 

SG: Cube Highways to sell minority stake to ADIA, investors commit $1b
Cube Highways and infrastructure Pte Ltd has signed an agreement to sell a minority stake to an entity wholly owned by the Abu Dhabi Investment Authority (ADIA).


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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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