Singapore morning news for August 2

Analysts expect positive Q2 results from Singapore banks | Video
Stronger loan growth and rising interest rates, as well as an improving oil and gas sector, are expected to give DBS, UOB and OCBC a boost in the second quarter, reports Channel NewsAsia’s Brandon Tanoto.
— ChannelNewsAsia

Toyota Philippines expects 17 percent output cut in 2018 on weak sales
Sales of motor vehicles among all automotive companies in the Philippines fell 12.5 percent to 171,590 units in the first half from a year ago, data from the ASEAN Automotive Federation showed. It is the second largest sales decline in the region, next only to Singapore’s 13.3-percent drop.
— Reuters

Oil falls 2 percent on rising supply, concern about trade tensions
“China’s economy is on track to slow this quarter and next,” said Julian Evans-Pritchard, senior China economist at Capital Economics in Singapore.
— Reuters

Investors embrace industrial and commercial market as cooling measures hammer home sector
With the government’s cooling measures slowing down the momentum of Singapore’s residential property market, investor attention is likely to turn to less exciting industrial and commercial sectors where regulations are not as punitive, according to real estate consultant Savills.
— Singapore Business Review

New SMRT chief rallies staff to forge ahead on first day
Former chief of defence force (CDF) Neo Kian Hong started his first day as chief executive of rail operator SMRT yesterday by urging his staff to work towards delivering safe, reliable and comfortable train services.
— The New Paper

Google adds new Singapore data center as Southeast Asia reaches 330M internet users
It’s been three years since it added a second center in Singapore, and during that time the company estimates that something in the region of 70 million people across Southeast Asia have come online for the first time.
— TechCrunch

Thai-born youth loses S’pore citizenship cos he forgot to take oath of allegiance
The youth had forgotten to take the oath of allegiance when he turned 21, and has been stripped of his citizenship, in accordance with Singapore laws. Now, he finds himself effectively stateless.
— The Independent

Be wary of fake SMS notifications, e-mails or calls on GST Voucher cash payouts: MOF
Eligible Singaporeans who will be receiving their GST Voucher cash payouts this month should be wary of fake SMS notifications, e-mails or calls, the Ministry of Finance (MOF) said on Wednesday (Aug 1).
— AsiaOne

Foreign interference in US elections: Lessons for Singapore
Facebook announced on Tuesday that it had shut down 32 pages and accounts that may have attempted to intervene in the year-end elections in the United States.
— The Straits Times

Alibaba’s Lazada removes commission fee in S’pore to boost transaction
Almost five months after receiving an extra US$2 billion investment boost from Alibaba in mid-March, Southeast Asia e-tailer Lazada is looking to scrap all commission charges for its marketplace sellers in Singapore, the firm announced in a press release today.
— KrAsia

MOE to step up vigilance after misconduct by teachers
The latest case of a National Junior College teacher being sacked for sending his female students inappropriate text messages has again thrown the teaching profession into disrepute.
— The New Paper

Commentary: SingHealth data breach should give us pause to think what else might be vulnerable
As databases become more valuable, they will naturally attract the attention of hackers who wish to exploit them for commercial gain or other reasons, says one cybersecurity expert.
— ChannelNewsAsia

First industry-run career centre for finance professionals opens
Finance professionals and those keen to join the sector can head to a dedicated industry-run career centre for advice, job matching and skills upgrading.
— TodayOnline

Why engaging old folk socially is important
Socially excluded elderly people are more likely to suffer cognitive impairment that can lead to dementia, a study on the China situation shows. There are lessons for Singapore too.
— The Straits Times

Biggest local supermarket chains say plastic bag use has dropped
Even as the latest poll numbers show nearly half of all plastic items used each year are supermarket plastic bags, the largest chains here are reporting a decrease in their use.
— The New Paper

Suspect in Boon Lay pawnshop robbery arrested
The man who allegedly threatened to blow up a ValueMax pawnshop outside Boon Lay MRT Station after his failed robbery attempt last Saturday has been arrested, the police said on Wednesday (Aug 1).
— TodayOnline

SMRT beefs up HR with more ex-military leaders
Mr Clifford Keong and Ms Lee Yem Choo – both colonels in the Singapore Armed Forces previously – have taken on human resource roles within the rail operator.
— The Straits Times

Performing in NDP is breast cancer survivor’s attempt to ‘do what she can now’
For breast cancer survivor Lee Ai Ngor, participating in the National Day Parade (NDP) is not just about checking off a box on her bucket list, it is also an attempt to live her life to the fullest.
— TodayOnline

Lim Tean: Shame and blight in Singapore’s history caused by PAP’s abuse of ISA must be wiped away
I had the great privilege of meeting up with Dr. Poh Soo Kai recently. He is a hero to me and to many Singaporeans who value steadfastness in the defence of one’s political beliefs.
— TOC

More than 35,000 oBike bicycles taken off the streets: LTA
Since July 5, business advisory company FTI Consulting – appointed last month as oBike’s provisional liquidators – has taken more than 35,000 oBike bicycles off the streets here, the LTA added.
— The New Paper

Singaporean-born Sashi Cheliah crowned Australia’s 10th MasterChef
Former elite STAR Team officer from the Singapore Police, Sashi Cheliah was recently crowned winner of the global-phenomenon that is MasterChef Australia! Sashi is the first Singaporean-born to ever win the title, which is a moment of pride for all Singaporeans.
— TOC

HIV-positive man jailed 2 years for not telling sex partner about infection
A 29-year-old Singaporean man was sentenced to two years’ jail on Wednesday (Aug 1), for failing to inform his male sex partner that he is infected with the human immunodeficiency virus (HIV).
— TodayOnline

NJC coach leaves after admitting to inappropriate behaviour
A relief physical education teacher at National Junior College (NJC) has been terminated for inappropriate behaviour.
— The New Paper

Frasers Logistics and Industrial Trust net profit jumps 22.4% to $30.9m in Q3
Frasers Logistics and Industrial Trust (FLT) recorded a 22.4% YoY increase in its net profit to $30.9m (A$30.67m) in Q3 2018 as its gross revenue jumped 22.6% to $49.7m (A$49.32), an announcement revealed.
— Singapore Bussiness Review

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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 August 2 added by Maria Mirasol Rasonable on August 2, 2018
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Maria Mirasol Rasonable

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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.