Singapore Morning News For October 6

Standard Chartered under probe over US$1.4b client transfers
Financial watchdogs in Europe and Asia are investigating Standard Chartered Plc over the transfer of US$1.4 billion (S$1.91 billion) of private bank client assets from Guernsey to Singapore ahead of new tax transparency rules, according to a source familiar with the matter.
— Channel NewsAsia

Newly launched A*STAR model factory lets SMEs test out new technologies
The A*STAR Model Factory @ SIMTech will allow companies to experience advanced manufacturing technologies first-hand, as well as to collaborate with stakeholders to test-bed and jointly develop innovative solutions.
— Channel NewsAsia (video)

S’pore’s hotel market draws investors
THERE seems to be more buzz in the Singapore hotel investment market lately, as potential buyers – mostly foreigners – scout for properties in a sector where assets are tightly held.
— The Business Times

World’s most expensive rice to launch in Singapore next month
The priciest rice in the world will soon be available to Singapore consumers.
— Channel NewsAsia

Singapore as a Payroll Processing Center for Companies in ASEAN
Located in the heart of South East Asia, Singapore is an attractive destination for centralizing payroll processing and wider regional HR functions for companies either entering ASEAN markets, or expanding their current operations. Singapore is well connected with all ASEAN member states and offers digital and communication infrastructure at global standards.
— Asean Briefing

Myanmar: Karen Enterprises, IDPM aim to raise $100m via ICO for city development
Singapore-registered Karen Enterprises and Integrative Design & Project Management (IDPM), which are backing the transformation of Mu Aye Pu village in the Karen state of Myanmar into a city, are looking to raise $100 million via an initial coin offering (ICO) for the project’s second phase of development.
— DealStreetAsia

Singapore’s Manhattan breaks top 10 in World’s 50 Best Bars, Atlas is highest new entry
Six Singapore bars made it into the 2017 edition of the World’s 50 Best Bars list, which was announced in London on Thursday evening. This was the strongest showing ever of bars here.
— The Straits Times (paywall)

Singapore Central Bank Reveals 3 New Blockchain Payments Prototypes
Singapore’s de facto central bank has disclosed new details about its research into financial applications of blockchain technology.
— CoinDesk

Japanese farmers’ market coming to Singapore airport
Japan’s agricultural cooperatives have begun providing produce for sale at Singapore’s Changi Airport, in hopes of capturing the hearts of global travelers and fueling demand for Japanese food overseas.
— Nikkei Asian Review

Singapore Media Regulator Partners with Asian Banks to Pilot Blockchain-based Customer Identification System
Singaporean regulator Infocommunications Media Development Authority (IMDA) has partnered with three Asian banks for the trial of a new Blockchain technology-based customer identification system proof-of-concept to streamline the know-your-customer (KYC) process.
— Cointelepgraph

SIA undergoing biggest internal overhaul
Singapore Airlines (SIA) has embarked on a three-year turnaround plan to review work processes and operations companywide, as the airline faces fierce competition that has eroded profits.
— The New Paper

Scheme to boost ‘digital confidence’
A major initiative to ensure that Singaporeans keep pace with the digital economy, at work and in everyday life, was launched yesterday.
— The New Paper

Singapore is experiencing ‘haze-like’ conditions – but this time the culprit is closer to home
Following reports of a chemical stench last Monday (Sep 25) that was traced back to an industrial facility in Malaysia, it seems like the environment is once again giving Singaporeans some cause for concern.
— BusinessInsider

US software firm Qualtrics eyes M&As to drive Asian expansion
US software enterprise Qualtrics – which raised $180 million Series C round at a valuation of $2.5 billion – is drawing up its blueprint to expand reach in the Asian market, by way of acquisitions.
— DealStreetAsia

PM Lee meets Singapore community in Brunei
UNDERGRADUATE Syazana Hussain awoke at dawn on Thursday, hoping for the chance to snap a photo of Sultan Hassanal Bolkiah in his gold-and-black chariot in the celebrations to mark the golden jubilee of his ascension to the Bruneian throne.
— The Business Times

Kingsford Huray bags Normanton Park for S$830.1m
KINGSFORD Huray Development, owned by Chinese-citizen-turned-Singaporean Cui Zhengfeng, has been awarded the Normanton Park collective sale site at S$830.1 million.
— The Business Times

6-month jail for man who exchanged obscene videos with online users
A man who amassed nearly 300 voyeuristic video clips of schoolgirls using the toilet or in changing rooms, and circulated them online, was jailed six months on Thursday (Oct 5).
— Today Online

Businesses send employees to learn to digitise work processes at 2-day Skillsfuture training
For a number of years, furniture retailer Courts relied on training materials that were printed on paper.
— Today Online

Teacher found guilty of printing, using counterfeit S$100 notes to pay for sex
He printed two S$100 notes on his home printer, and used them to pay for the services of a prostitute.
— Today Online

Are water heaters in hot water?
That is what experts told The New Paper, following the recent incident at the Cote D’Azur condominium at Marine Parade where a storage water heater ruptured and exploded.
— The New Paper

Cheats caught for using stolen debit card on S$800k diamond ring
Two men who attempted to use a stolen debit card to buy an S$800,000 diamond ring were arrested by the police on Wednesday (Oct 4).
— Today Online

FairPrice walks the walk in brown rice campaign
Supermarket chain FairPrice yesterday launched their six-month public education campaign to promote brown rice.
— The New Paper

Bike-sharing operators, authorities move to cut irresponsible use of bicycles
Bicycle-sharing operators have signed an agreement with Singapore authorities to encourage the responsible use of their services and address the problem of abandoned bicycles, the Land Transport Authority (LTA) said on Thursday (Oct 5).
— 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.

Singapore Morning News For October 6 added by Leakhena Khat on October 6, 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.