Singapore Morning News For October 12

Singapore to house one of Alibaba’s new global research labs
Chinese Internet behemoth Alibaba will open a research lab here in Singapore, as part of its new global research programme called the Alibaba Discovery, Adventure, Momentum and Outlook (DAMO) Academy.
— Channel NewsAsia

Singapore’s MAS seen on hold as market watches for policy clues
Singapore’s central bank is widely seen sticking to a neutral stance on Friday (Oct 13), but it may be moving closer to tightening policy as the economy continues to strengthen.
— Today Online

Military service a force for division in Singapore
Singaporean Benjamin Matchap recently graduated from Lasalle College of the Arts with a diploma in broadcast media, an occasion where newly credentialed graduates would normally leverage their new skills to enter the work force and launch upon career paths.
— Asia Times

Singapore to attend launch of Trilateral Air Patrol in Malaysia
Senior Minister of State for Defence Dr Mohamad Maliki Osman will attend the launch ceremony of the Trilateral Air Patrol (TAP) by Indonesia, Malaysia and the Philippines at the Subang Air Base in Malaysia on Oct 12 (Thursday).
— Channel NewsAsia

After London, could Singapore be next to fall out of love with Uber
Battling to keep its foothold in London — its largest market in Europe and crucial to its plans to becoming profitable — Uber may soon be confronted with a similar situation in Singapore, the beachhead to ASEAN that is home to more than 600 million consumers.
— DealStreetAsia

Singapore: Executions continue in flawed attempt to tackle drug crime, despite limited reforms
Singapore’s continued reliance on mandatory death sentences, which violate international law, has meant that dozens of low level drug offenders have been sent to death row in recent years, Amnesty International said in a new report released today.
— Amnesty

Singapore-based Sea Ltd, dubbed the Tencent of Southeast Asia, isn’t really like Tencent at all
Singapore-based Sea Ltd initially modeled itself on Chinese internet colossus Tencent Holdings and is often called the Tencent of Southeast Asia. Now that Sea has filed for a US initial public offering and given a peak at its financials, the resemblance is starting to break down.
— The Straits Times (paywall)

Singapore Tourism Board and Maritz Sign Partnership Agreement
The Singapore Tourism Board (STB) and Maritz Global Events signed a partnership agreement during a STB-sponsored breakfast at IMEX America today.
— Successful Meeting

Giant installs vending machines for gardening tools, pet food
From chilli crab to gardening tools, shoppers can now get their hands on a variety of items dispensed from vending machines at Giant’s hypermarket stores in IMM Jurong and Tampines.
— Channel NewsAsia

Singapore’s hidden home-sharing economy is quietly on the rise
Sizing up the home-sharing industry in Singapore has become the economist’s puzzle as the aspiring “Smart Nation” grapples with resistance to next-door strangers.
— The Business Times

Women’s average CPF balance growing at faster pace than men’s
Singapore women’s nest egg for retirement is growing at a faster pace than men’s, Central Provident Fund (CPF) Board figures show.
— The New Paper

Nikkei index nears 21-year high amid positive economic data
DRIVEN by improved earnings and optimism over the strength of its economy, Japan’s benchmark Nikkei 225 Index on Wednesday hit a closing high not seen in almost 21 years.
— The Business Times

Banyan Tree to open first resort in Singapore at Mandai
Banyan Tree Holdings will open its first resort in Singapore with a new eco-friendly development at Mandai.
— Channel NewsAsia

If you think the hawker centre is not clean enough, you are not alone
Are you unhappy with the cleanliness at the hawker centre you go to for lunch? If you are, you could be part of 30 per cent of Singapore residents who feel the same way.
— Channel NewsAsia

Self-service kiosks, ‘smartbeds’ and robots: The technology enhancing Singapore’s hotels
Checking in at the newly established Yotel Singapore along Orchard Road is a do-it-yourself (DIY) process.
— Channel NewsAsia

SPH reports 32% rise in full-year net profit but plans to accelerate job cuts
Singapore Press Holdings (SPH) on Wednesday (Oct 11) said it is accelerating its previously announced plans for staff reduction even as it reported a 32 per cent rise in full-year net profit.
— Channel NewsAsia

SPH revamps for better footing in digital information age
MEDIA giant Singapore Press Holdings (SPH) will take a sharp cut in the cost base of its core media business, as it looks to re-position itself quickly and efficiently to meet the demands of the new digital information age.
— The Business Times

Foreign firms allowed to re-domicile to Singapore from Oct 11
FOREIGN companies can now transfer their registration from their original jurisdiction to Singapore.
— The Business Times

Singapore accountants ‘unprepared for the future’
ACCOUNTING and finance professionals in Singapore are far from ready for the challenges of the future, and the supporting infrastructure is just as ill-prepared, say the findings of a new study.
— The Business Times

Singapore Press Holdings to cut over 200 jobs by year-end
Media company Singapore Press Holdings (SPH) said on Wednesday (Oct 11) it would cut 230 jobs by the end of the year as it accelerated a plan to lay off staff.
— Today Online

Man found guilty of sticking toothpicks in bus seats
Prosecutors are asking for jail to be imposed on a 60-year-old man who was convicted on Wednesday (Oct 11) of committing mischief by sticking toothpicks in seats of public buses on four occasions this year.
— Today Online

6,000 cartons of contraband cigarettes seized at Woodlands Checkpoint
Six thousand cartons of contraband cigarettes amounting to over S$500,000 of tax evaded were seized at the Woodlands Checkpoint on Tuesday (Oct 10).
— Today Online

50 diesel hybrid buses to be on the road by second half of 2018
Fifty diesel hybrid public buses, which are more environmentally-friendly, will hit the roads here from the second half of next year, the Land Transport Authority (LTA) said on Wednesday (Oct 11).
— Today Online

New initiative draws on SMU research to grow retail industry
In 1940, the iconic Tiffany and Co store on New York’s Fifth Avenue opened its doors to a large, curious crowd who had never shopped in a building with central air conditioning.
— The New Paper

Feature photo Neil Howard
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.

Singapore Morning News For October 12 added by Leakhena Khat on October 12, 2017
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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.