Singapore Morning News For October 2

Global Logistic Properties expands into Europe with $2.8b acquisition
Global Logistic Properties (GLP) said on Monday it has agreed to acquire Gazely, a leading European logistics platform, for about $2.8 billion, as part of its expansion into Europe.
— DealStreetAsia

Uber may be under CPIB probe over car buys: industry talk
RIDE-hailing heavyweight Uber may be involved in a probe related to car purchases made by its car rental company Lion City Rental (LCR).
— The Business Times

Commentary: Who’s responsible for combating corruption in Singapore?
Singapore is recognised around the world for its zero-tolerance stance on bribery and corruption. The country is the only Asian country to have consistently ranked among the top ten least corrupt countries in the world, according to Transparency International’s Corruption Perceptions Index.
— Channel NewsAsia

Singapore Q3 private home prices rise for first time in 4 years
Singapore’s private home prices rose for the first time in four years in the third quarter, ending a stretch of 15 consecutive quarters of price declines, the government’s preliminary estimates showed on Monday.
— Kitco

Healthcare sector upside to come from regional earnings
EVEN though healthcare stocks have broadly underperformed the rest of the market this year, they still trade at premium valuations that ultimately will have to be justified by earnings – mostly from regional expansion.
— The Business Times

Singapore: Ayondo’s listing on SGX falls through
The reverse takeover (RTO) of social trading financial technology firm Germany’s Ayondo AG by Singapore-listed Starland Holdings has fallen through following the conditions of the deal being unfulfilled.
— DealStreetAsia

Singapore Snub Spoils Office Party
It’s not enough that a Malaysian tycoon is paying the most ever to build a new office block in Singapore. What’s more important is that his billionaire Singapore cousin is staying away.
— Bloomberg

Singapore is a great Brexit model, but is Britain up to the job?
In the debate over Britain’s future after Brexit, the “Singapore model” is often raised, and just as often demonised. In the summer Philip Hammond, the Chancellor, told Le Monde that the UK would not become a low-tax, low regulation nation off the coast of Europe. But why not?
— Telegraph

More than 200 participate in ‘Seniors Give Thanks’ campaign
Wheelchair-bound after suffering a stroke 10 years ago, Mr Phillip Oh, 65, could not venture out on his own to visit the doctor or buy groceries.
— Today Online

ActiveSG launches Masters Club to encourage those aged 40 to 60 to exercise more
In an effort to encourage middle-aged Singaporeans to exercise, ActiveSG has launched a new Masters Club which offers customised programmes that are better suited for this age agroup.
— Today Online

Amazon in Singapore: how it will change our lives from here on
When a behemoth enters the market, the rules of the game change. With Amazon now on the sunny island, a lot of e-commerce players will need to relook their marketing, delivery, exchange, and return policies, as well as overall plans. But not just them, the world will be different for us as well.
— Asia One

DOES CHINA HAVE THE INSIDE TRACK IN RACE WITH JAPAN FOR SINGAPORE-MALAYSIA HIGH-SPEED RAIL CONTRACT?
China and Japan are ramping up public lobbying efforts with Singapore and Malaysia as they gun for the multibillion-dollar contract to develop a high-speed train link between the Southeast Asian neighbours, but observers say the two rail building titans are unlikely to receive special favours.
— South China Morning Post

‘Unmanned’ stores spreading across Singapore
A number of retailers in Singapore are rushing to automate their in-store services. Self-service checkout, for example, can minimize waiting times for customers. For the retailers’ part, this could be a prime solution for the ongoing labor shortage and soaring manpower costs amid the city-state’s graying and shrinking population.
— Nikkei Asian Review

Patience needed for ASEAN exits: Hanno Stegmann, APACIG
Hanno Stegmann, the chief executive of Asia Pacific Internet Group (APACIG), a joint venture (JV) between venture builder Rocket Internet and telecommunications firm Ooredoo, maintains that Rocket Internet and its affiliates are firmly committed to the markets of emerging Asia, even as competition rises in the region.
— DealStreetAsia

Man, 43, arrested for importing fake bags
A 43-year-old Singaporean man has been arrested for smuggling more than 300 counterfeit bags, which he had intended to sell.
— Today Online

E-scooter services extended to NUS
Telepod, the homegrown e-scooter sharing start-up, expanded its services to the National University of Singapore (NUS) last week. This comes on the heels of an ongoing trial at Nanyang Technological University (NTU) that has been doing well, its marketing officer said on Thursday (Sept 28).
— Today Online

Shining a spotlight on the secret life of entrepreneurs
THE life of an entrepreneur is often filled with hardship, but what helps customisable computer chair maker Secretlab’s co-founder and managing director Ian Ang get through it is support from loved ones and staff.
— The Business Times

Minimarts make the digital march towards survival
With its electric blue zinc roof and rusty metal gates, Tee Seng Store’s old-world charm stands out from the bungalows in the residential sprawl off Yio Chu Kang Road.
— The New Paper

SMRT director fined $55,000 over death of trainees
The director of control operations at rail operator SMRT Trains was fined $55,000 on Friday over the death of two trainees, who were hit by a passenger train on March 22 last year.
— The New Paper

Device to keep tabs on blood sugar levels without finger-pricking available in Singapore
When Mr Kevin Lim was diagnosed with diabetes in June last year, the 40-year-old wanted to do all he could to improve his condition.
— Channel NewsAsia

Commentary: Helping start-ups and entrepreneurs, the ‘new heroes’ of Singapore, succeed
“If a masochist is someone who loves pain, what do you call someone who loves huge amounts of pain?”
— Channel NewsAsia

DSA Summit: PropertyGuru open to more investment, IPO up in air
Hari Krishnan of the PropertyGuru Group says that the company is not looking to raise further rounds but is open to further investments and the possibility of a corporate venture fund.
— DealStreetAsia

Singapore maintains robust pipeline of business events with multiple notable events secured for the first time
Singapore has successfully secured eight large congresses and tradeshows in the first half of this year. These are estimated to bring in an additional 20,000 visitors to the city and further augment its current strong line-up of business events.
— Travel Daily News

Andaz Singapore announces the Andaz Collection
Set to open in October 2017, Andaz Singapore is proud to announce the “Andaz Collection”, a curated capsule of looks for Andaz Singapore’s associates, by home-grown fashion label, In Good Company. The brand is known for its artistic collaborations and neo-modern style of minimalist clothing and signature handcrafted accessories.
— Travel Daily News

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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.

Singapore Morning News For October 2 added by Leakhena Khat on October 2, 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.