Singapore morning news for August 14

Singapore morning news for August 14

Singapore morning newsSingapore exports jump 9.4% in Q2
Singapore’s non-oil domestic exports (NODX) jumped 9.4 per cent in the second quarter of 2018, driven by non-electronic exports, according to statistics released by trade agency Enterprise Singapore on Monday (Aug 13).
— Channel NewsAsia

Home sales surged 60.7% to $8.2b in Q2
The largest transaction was Tulip Garden which was collectively sold for $906.9m.
— Singapore Business Review

Singapore maintains full-year GDP forecast as economy expands 3.9% in Q2
However, slower growth is expected in the second half of 2018 with increasing uncertainties and downside risks in the global economy.
— Channel NewsAsia

StarHub Q2 profit down 22%
Singapore’s StarHub has reported a 22% year-on-year decline in net profit for the second quarter to S$63 million ($45.8 million), in part due to growing competition in the consumer segment.
— Telecomasia

Industrial property sales skyrocketed 295.1% to $794.4m in Q2
There was a rising institutional interest for data centres and hi-spec facilities amidst stabilising rents and prices.
— Singapore Business Review

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Largest group of Haj pilgrims this year depart Singapore for Jeddah
A total of 326 Haj pilgrims – the largest group this year – departed for Jeddah, Saudi Arabia on Monday afternoon (Aug 13), said the Islamic Religious Council of Singapore (MUIS) in a press release.
— Channel NewsAsia

Singaporean ride-hailing firm Kardi teams up with India’s Jugnoo to accelerate Singapore operations
Singapore-based ride-hailing firm Kardi teamed up with Indian firm Jugnoo to increase their fleet and propel a “driver-centered company,” an announcement revealed.
— Singapore Business Review

Singapore-Malaysia ties face uncertain times: Panellists at ST Global Briefing
Relations between Singapore and Malaysia are set for greater uncertainty if the first three months of the new Pakatan Harapan government are anything to go by, said regional watchers on Monday (Aug 13) at a forum.
— The Straits Times

SMRT to put 12 new trains into service by early 2019
SMRT Corp’s new chief executive Neo Kian Hong said six new trains will be put into service next month, with another six to be added by early next year.
— The New Paper

More young girls caught as loanshark runners
They chain up metal gates of homes and splash paint to warn the occupants to settle their debts.
— The New Paper

Wilmar Q2 profit surges on oilseeds and grains business
Singapore-listed commodity trader Wilmar International Ltd posted a five-fold rise in second-quarter net profit, helped by its oilseeds and grains segment that benefited from higher volumes and crush margins.
— StarOnline

New National Instructors and Coaches Association to be set up by NTUC
As the gig economy continues to take flight here, concerns over the welfare and career development of freelancers will see the National Trades Union Congress (NTUC) setting up a national association for freelance coaches and instructors in fields such as sports, dance and fitness.

NTU gets $11m gift for endowment fund
The Nanyang Technological University (NTU) received an $11 million gift yesterday to set up an endowment fund to further medical education and research in healthcare.
— The New Paper

SMRT will win back the public’s trust, says new CEO Neo Kian Hong
The new chief executive of beleaguered transport operator SMRT said on Monday (Aug 13) he is confident of earning back the public’s trust, and that he has given up his car and will rely on public transport.
— Channel NewsAsia

Singapore retains top spot globally for fixed broadband speeds, lags in mobile
Singapore has topped the charts for the fastest fixed broadband speeds globally for the 12th time in a row, according to a speed test index published last month.
— TodayOnline

Clicknetwork launches web series in partnership with IMDA
Family, friendship, health and parenting are the topics of three new Web series set to feature on the popular YouTube channel Clicknetwork.
— The New Paper

10 key issues which define Lee Hsien Loong’s 14 years in power (Part 1 on Strategic Direction)
“In Singapore, we ensure that these key public services are both of high quality and affordable for all Singaporeans, rich or poor. This is how we’ve helped families to manage their cost of living, and given an extra hand to those who need it. For more than five decades, this approach has worked well”.

Spike in loan shark harassment cases involving fire: Police | Video
At least four cases of loan shark harassment cases involving fire were reported last week. A 19-year-old man accused of setting fire to the doors of three homes was taken back to a crime scene on Monday (Aug 13). Nabila Goh reports.
— Channel NewsAsia

Malaysia PM Mahathir Mohamad wants to raise price of raw water sold to Singapore by more than 10 times
Malaysia’s Prime Minister Tun Dr Mahathir Mohamad has said he wants to increase the price of raw water supply to Singapore by more than 10 times to reflect the higher cost of living.
— The Straits Times

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Construction firm fined S$44k for damaging water mains, disrupting water supply in Tampines
A construction company was fined a total of S$44,000 for failing to follow regulations and damaging a water main in Tampines late last year, which resulted in the loss of about 4,000 cubic metres of water – an amount that can fill approximately one-and-a-half Olympic-sized swimming pools.
— TodayOnline

Underage driver in fatal hit-and-run accident pleads guilty
An underaged driver who drove into a taxi and a motorcycle, causing the death of a 45-year-old single mother, pleaded guilty to his offences on Monday (Aug 13).
— TodayOnline

Singapore economy grows 3.9%, easing from Q1; expected to moderate against trade tensions
Singapore’s economy grew by 3.9 per cent year-on-year in the second quarter, easing from the previous quarter when it clocked 4.5 per cent growth, and falling short of market expectations.
— The Straits Times

PM Lee to deliver National Day Rally speech on Aug 19 at ITE College Central
Prime Minister Lee Hsien Loong will deliver his National Day Rally 2018 speech on Sunday, Aug 19 at the Institute of Technical Education College Central at Ang Mo Kio.
— Channel NewsAsia

Chart of the Day: Commercial property sales ballooned 216.8% to $1.4b in Q2
This chart from Colliers International Singapore Research showed that the commercial sector turned around in Q2 with investment sales rising to 216.8% to $1.4b from a slump in Q1.
— Singapore Business Review

Outdated ideas on home ownership and land shortage are crippling us
With the recent cooling measures introduced for the private residential market, discussions around the decaying value of Housing Board (HDB) flats aged over 40 years have quietened down for a while.
— The Straits Times

Ex-RSAF engineer’s friend and accomplice convicted for cheating Govt of over S$632K
A friend of a former Republic of Singapore Air Force (RSAF) engineer, with whom he was in cahoots with, has been convicted of cheating the Government of over S$632,000 worth of contracts.

The worst is over for Singtel associates
Prices are stabilising for Telkomsel, whilst customer adds will be the focus on Airtel.
— Singapore Business Review

Public can now adopt and rehome retired sniffer dogs in HDB flats
Under a new one-year pilot expansion, members of the public can now adopt retired sniffer dogs from military, police and civil defence units and rehome them in Housing Board flats, the authorities said in a joint statement released on Monday (Aug 13).
— The Straits Times


Feature photo Bernard Spragg. NZ


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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.


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Maria Mirasol Rasonable graduated with a Bachelors Degree in journalism from Polytechnic University of the Philippines, Santa Mesa, Manila, Philippines.

She previously covered police rounds for Philippine Daily Inquirer as a trainee before becoming editorial staff at Gospel Komiks under the Communication Foundation for Asia (CFA-MG), Santa Mesa, Manila where she wrote lifestyle and trending fashion and styles articles.

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