Singapore Morning News For October 23

Singapore Morning News For October 23

Singapore morning newsPM Lee expects Singapore economy to grow by nearly 3% this year
Singapore’s economy should grow by close to 3 per cent this year, Prime Minister Lee Hsien Loong said on Sunday (Monday morning Oct 23, Singapore time).
The Straits Time (paywall)

Singapore-Listed Noble Group Will Sell Its Oil Trading Business
Embattled commodity trader Noble Group Ltd. announced the sale of its U.S. oil-liquids business to Vitol Group, and warned that it will probably post a net loss of more than $1 billion for the third quarter.

Singapore’s cloudy route to digital transformation
ACROSS many markets, ‘digital transformation’ started as some sort of distant nirvana. It’s often a throwaway line with no realistic and concrete application, or opportunity payback
Digital News Asia 

Growing list of Internet-connected devices vulnerable to Reaper malware threat
A new cyber threat targeting Internet-connected devices is spreading rapidly and could enable hackers to access users’ data or use their devices for criminal activities, the Singapore Computer Emergency Response Team (SingCERT) warned on Sunday (October 22).
Today Online 

Consumer goods firms harness online data to tap Southeast Asia e-commerce boom
When diaper maker DSG International (Thailand) wants to know what its customers are thinking, it often turns to Lazada, an e-commerce firm majority-owned by Alibaba Group Holding <BABA.N>.
Today Online 

AEC News Today mobile app for Android V2.0

All Singapore Stuff wants to employ retrenched SPH journalists
Socio-political website All Singapore Stuff (ASS) has offered journalists retrenched in the recent downsizing by Singapore Press Holdings (SPH) a job of writing for the website. A Facebook post by ASS said:
The Independent Singapore 

Official data shows the reliability of Singapore’s metro network has improved threefold in the past two years, but tell that to ordinary commuters in the Lion City and you are likely to get baffled looks. Ask the republic’s public transport officials, however, and they will tell you the public are not trusting the figures because of sloppy journalism.
South China Morning Post

Driving tests in Singapore to move from human testers to intelligent cameras and sensors for learner assessment by 2023
Speaking at the Singapore Road Safety Council Gala Dinner on October 21, Singapore’s Minister for Home Affairs and Minister for Law, Mr. K Shanmugam, announced that the Traffic Police will trial an Intelligent Driving Circuit (IDC) at the Singapore Safety Driving Centre (SSDC) in 2021. Full implementation at SSDC is planned for 2023.
Open Gov Asia 

Singapore venture capital surges as startups seek room to grow
Singapore is experiencing a surge in venture capital fundraising, reflecting growing interest in South-east Asia’s startups.
The Business Times 

Singapore TEE International Unit Wins S$56.5 Mln Contracts To Supply Railway Noise Barriers
Singapore’s TEE International’s wholly owned unit PBT Engineering has won S$56.5 million ($41.4 million) in Land Transport Authority contracts for railway noise barriers, it said in an exchange filing Monday.
Nikkei Asian Review 

Analyst: Singapore not an immediate ISIS target
Singapore may not be an immediate target for Islamic State in Iraq and Syria (ISIS) supporters after the terror group suffered defeats in Raqqa in Syria and Marawi in the Philippines.
The New Paper 

Tourist spending, GoSpree app help make GSS a success
Great Singapore Sale gets 2 to 4.1% increase in retail sales over same period last year
The New Paper

Singapore PM Lee says ready to step down in few years
Singapore Prime Minister Lee Hsien Loong said he was ready to step down in a couple of years time and his successor is likely already in the cabinet but a clear choice has yet to emerge.
Gulf Times 

China developers love Singapore so much that it might kill us
Foreign property developers, mainly China property developers, have a real fascination with Singapore. That’s good news for government land sales, because if you haven’t noticed, this island is damned tiny. That means they’re forced to bid aggressively, which ramps up government coffers. On the downside, all those additional costs might be headed in the direction of home buyers:
The Online Citizen 

SIIC Environment wins two wastewater projects in China
Water treatment company SIIC Environment Holdings Ltd (SIIC Environment) bagged two build-operate-transfer (BOT) wastewater projects in Jiangxi Province, China.
Singapore Business Review 

Will Amazon kill the retail stars?
When Amazon officially launched its Prime Now service in Singapore, one of the biggest talking points is whether it will snap most of the market share out of incumbent e-commerce players and e-tailers like Lazada and online clothes store Zalora whilst cannibalising traditional brick and mortar stores like Tesco in Singapore.
Singapore Business Review

ASEAN bourses can’t support high startup valuations: Fatfish Internet Group
ASX-listed Fatfish Internet Group is of the view that exits via initial public offers (IPOs) in the Southeast Asian technology space have been lacking due to private capital market valuations that public capital markets are unable to support.

Energy and chemicals industry transformation map launched
Innovation will be a key focus for the energy and chemicals industry of the future, Trade and Industry (Trade) Minister Lim Hng Kiang announced at the unveiling of its industry transformation map (ITM) on Saturday (Oct 21).
Channel NewsAsia 

Should social egg-freezing be allowed in Singapore?
More single women are going overseas to freeze their eggs to give them a shot at motherhood later in life, noted doctors in Singapore. Known as social egg-freezing, doing so for non-medical reasons is not allowed here but some experts feel there may be a case to relax the rules.
Channel NewsAsia (video)

AEC News Today mobile app for iOS V2.0 c

A showdown brews between Amazon and Alibaba, far from home
From this concrete warehouse perched on the edge of a potentially vast new market for online shopping, the Alibaba Group of China hopes to beat Amazon one head of lettuce at a time.
Today Online

Charity screening raises S$6,000 for migrant workers’ NGO
While Filipina domestic helper Edna Degala worked in Singapore for the last 16 years looking after the children of her employers, her late parents and sister helped raise her daughter, now 21, back in the Philippines.
Today Online

Singapore: VC funding surges as startups seek room to grow
Singapore is experiencing a surge in venture capital fundraising, reflecting growing interest in Southeast Asia’s startups

Singaporean indoor skydiver Kyra Poh retains world championship title
After last year’s exploits in the World Championships in Poland, Singapore’s young indoor skydivers Team Firefly were at it again.
Channel NewsAsia 

Eight men to be charged for outrage of modesty
Eight men, aged between 25 and 57, will be charged in Court on Monday (Oct 23) for eight separate cases of outrage of modesty, committed between January and July 2017, police said in a news release on Sunday.
Channel NewsAsia

Feature photo cegoh
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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