Singapore morning news for August 8

Singapore morning news for August 8

Singapore morning newsU.S. prosecutors target Goldman Sachs in 1MDB probe: NYT
1Malaysia Development Berhad (1MDB) is at the center of money-laundering investigations in at least six countries, including the United States, Switzerland and Singapore.
— Reuters

Singtel launches FutureNow Innovation Center
Singtel has announced the launch of its FutureNow Innovation Center, showcasing the potential of technologies such as 5G and the IoT to support the government’s Industry Transformation Maps for Singapore’s six key industry clusters.

En bloc sales success rate dips below 2016-2017 levels
The success rate for a collective sale has fallen significantly compared to 2016 and 2017. This means that despite the high number of en bloc sales, more developments are failing to reach the stage of completion.
— Singapore Business Review

Take shelter in Singapore banks, defensive stocks amid trade worries, ‘ghost of August’: Analysts
With a host of risk factors, including fresh trade-related jitters, threatening to cause more pain for local equities, analysts say it’s time for investors to seek shelter in defensive plays.
— Channel NewsAsia

Most Singaporeans still use NRIC number as SingPass ID
It has been three years since SingPass users could change their unique online ID from their National Registration Identity Card (NRIC) number, but most have failed to do so, The Straits Times has learnt.
— The Straits Times

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Non-invasive infant jaundice screening at National University polyclinics | Video
The National University Health Service will be the first healthcare cluster in Singapore to introduce a painless and non-invasive screening for infant jaundice at its six polyclinics. Cheryl Goh has more.
— Channel NewsAsia

Venezuela dodges oil asset seizures with export transfers at sea
The Malaysian state fund is at the center of money-laundering probes in at least six countries, including the United States, Switzerland and Singapore. A total of $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates, according to the U.S. Department of Justice (DOJ).
— Reuters

Children with autism sew 53 plushies to make National Day
These volunteers created 53 plushies in 10 two-hour sessions in a sewing project named Singapore Pride Plushies (SPP).
— The New Paper

Partnership to turn loose change digital for Singaporeans
Wirecard is expanding its partnership with EZ-Link and Cheers to create a new cashless solution in Singapore. The goal is to convert users’ loose change directly into stored value on EZ-Link cards and EZ-Charms.
— Fintech Innovation

Mastercard, EZ-Link and fintech You Technologies launch multi-currency mobile wallet
With YouTrip SmartExchange technology, users can also use the leftover currencies to pay in any of the 150 or more currencies during their next overseas trip or whenever they’re in Singapore as the app will automatically convert leftover currencies at wholesale exchange rates at no additional fees.
— Singapore Business Review

ITE principal overcomes fears to lead NDP contingent
But for National Day, the principal of Institute of Technical Education (ITE) College East campus will put himself in the middle of one of the biggest crowds of the year.
— The New Paper

Singapore, Malaysia shares advance in broad rally
Singapore shares advanced further Tuesday while Malaysia rebounded in a broad rally as strong corporate earnings lifted investors sentiment recently battered by the ongoing global trade war.
— Nikkei Asian Review

Fake accounts rise in support of MINDEF’s “decisive actions and thorough investigations” in CFC Dave Lee’s death
However, you also see comments such as ones by Rosna, who shared that she is glad as a mother of two kids, that Singapore Armed Forces is taking actions and doing thorough investigations.

New e-wallet with pre-paid card lets users pay in 150 currencies with no conversion fees
Whether it is withdrawing cash in another country, or shopping online or overseas, there is now a way for Singapore travellers to do so without any cross-border transaction fees or paying currency conversion fees typically charged by banks or moneychangers.
— TodayOnline

S’pore man hitchhikes 27,000km across 21 countries over eight months
The first time Mr Muhammad Sufian Mohamed Adam hitchhiked was in Myanmar two years ago.
— The New Paper

Over 9,500 drivers sign up with new ride-hailing app Tada
Less than a fortnight after the launch of its mobile application, new ride-hailing platform Tada has signed up more than 9,500 drivers and chalked up nearly 50,000 bookings, but analysts said questions over its staying power remain.
— TodayOnline

Trade jitters could slow bank loan growth to 7% by end-2018
Loan growth for Singapore’s largest banks may slow from previous estimates of 8% to 6-7% by the end of 2018 as heated trade tensions between the economic superpowers US and China poses a key risk to banking profitability, according to Moody’s Investors Service.
— Singapore Business Review

Two helicopters to make debut performance at RSAF golden jubilee aerial display
Two helicopters to make debut performance at RSAF golden jubilee aerial display
— TodayOnline

North Korea, US Spar Over Nuclear Deal at Singapore Forum
North Korea and the United States on Saturday sparred over an agreement reached at a landmark summit in June for the Asian country to end its nuclear program, as Washington called for maintaining sanctions pressure against Pyongyang, which in turn said it was alarmed by US intentions.
— The Irrawaddy

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Feature photo Michael Elleray


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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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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