Singapore Morning News For July 10

Malaysia could have to pay over $200 million compensation to Singapore for scrapping railway plan
Singapore will try to recover costs incurred for a rail project with Malaysia, which have exceeded 250 million Singapore dollars ($184 million) and are still growing, if the new government in Kuala Lumpur confirms it has cancelled the project, officials said on July 9, both Reuters and Bloomberg News reported.
— Investine

EY set to launch Singapore innovation centre by Q4
EY will launch its wavespace brand of innovation centres across the Asia Pacific region starting with Hong Kong, followed by Shanghai, and then Singapore by the fourth quarter of 2018.
— Channel News Asia

Vivian: S’pore has taken firm action over 1MDB
Singapore has been thoroughly investigating 1MDB-related offences committed here since 2015, Foreign Minister Vivian Balakrishnan said yesterday.
— The New Paper

HDB eyes development of floating solar panels for open sea
It wants to expand on its floating modular system launched in Punggol Waterway in 2011.
— Singapore Business Review

Groups Call for Attention to Scientists’ Warning on Population
Sustainable population organizations across the globe are calling on their governments to take action in response to a warning from 15,000 scientists last November regarding worsening environmental crisis. World Population Balance is among the groups calling for action on World Population Day 2018.
— PR News Wire (media release)

Theo Jansen’s wind-powered strandbeest sculptures walk into Singapore
A herd of large, futuristic creatures born on the wild, windswept Dutch coast has taken up residence a world away in fast-paced high-rise Singapore.
— Financial Review

Views from Singapore: Somethings I learnt from running around Singapore
So, I am in Singapore as part of the African Journalist Visit Programme (AJVP) organised by the Ministry of Trade and Industry (MTI) in Singapore and Enterprise Singapore.
— Business Day

Parliament: Singapore spent $250m on HSR project, expects to spend another $40m by December, says Khaw
Singapore has already spent more than $250 million on the Kuala Lumpur-Singapore High Speed Rail (HSR) project, and is likely to expend another $40 million or so by year end, Transport Minister Khaw Boon Wan revealed in Parliament Monday (July 9).
— The Straits Times

Mapletree Logistics Trust could recover through warehouse purchase
Its tenancy risk has risen in the near-term.
— Singapore Business Review

Singapore fears ‘vicious cycle’ of trade measures amidst conflict
Trade minister Chan Chun Sing said this could hit global consumption and trade flows to Singapore.
— Singapore Business Review

Singapore shares up 1.2% on Monday
SINGAPORE shares closed higher on Monday, with the Straits Times Index (STI) up 1.2 per cent or 37 points to 3,228.82, and above the psychological 3,200 support
— The Business Times

For China, Tech Giant Tencent Is Both a National Champion and a Threat
The WeChat smartphone app’s ubiquity in China is creating a new challenge for its creator, Tencent Holdings Ltd.: heightened scrutiny from Beijing.
— The Wall Street Journal

No link between funding of HSR project and decision to raise GST: Lawrence Wong
The Government’s coffers will not be affected should the Kuala Lumpur-Singapore High Speed Rail (HSR) project be terminated, said Second Minister for Finance Lawrence Wong on Monday (July 9).
— TodayOnline

Parliament addresses HSR, water issue and ties with M’sia: Latest
Parliament reconvened on Monday (July 9). Several questions were tabled on Singapore’s bilateral relationship with Malaysia, as well as the status of the proposed high-speed rail (HSR) project between the two countries.
— TodayOnline

Singapore’s PE and VC deals reached US$19.8b in Q1 2018
It pushed SEA investment deals to skyrocket to US$21.9b from US$687m in Q1 2017.
— Singapore Business Review

Yanlord Land acquires site in Hangzhou
Real estate developer Yanlord Land Group has acquired a 154,500 square metre, gross floor area (GFA) prime residential development site in Hangzhou for approximately RMB2.94 billion (S$600 million) through a public land auction.
— The Business Times

Seven companies apply for bicycle-sharing licence
Four bicycle-sharing firms – ofo, Mobike, SG Bike and GBikes – have submitted their applications to the Land Transport Authority for a full licence to operate dockless bicycle rental services.
— The Straits Times

Three charts that help explain Singapore’s new property curbs
The Government imposed cooling measures on its property market last week, in a bid to contain what the central bank described as “euphoria” in the sector.
— TodayOnline

Tickets for 2019 HSBC Singapore Rugby Sevens available in October
Tickets for next year’s HSBC Singapore Rugby Sevens go on sale in October, with the fourth edition of the event taking place at the National Stadium on April 13 and 14.
— The Straits Times

Singapore’s PE and VC deals reached US$19.8b in Q1 2018
It pushed SEA investment deals to skyrocket to US$21.9b from US$687m in Q1 2017.
— Singapore Business Review

Keppel Urban Solutions and ST Engineering to collaborate on smart city projects
The partnership will first cover Vietnam projects and expand to other markets.
— Singapore Business Review

More tributes flow in for the late Mrs Wee Kim Wee
The late Mrs Wee Kim Wee had a natural warmth and caring nature that endeared her to everyone she met, said former president Tony Tan Keng Yam yesterday.
— The New Paper

Nissan admits falsifying emissions tests in Japan
Nissan has admitted that it has uncovered falsified data from car exhaust emissions tests at most of its Japanese factories.
— BBC

HDB looking at expanding use of floating system for solar panels in open sea
HDB has announced that it will be signing a research collaboration with a landscaping firm in the coming week for the study and development of a floating solar system for coastal marine conditions.
— The Straits Times

Singapore has already spent S$250m on HSR project; to lay out S$40m more by December: Khaw Boon Wan in Parliament
SINGAPORE has already spent more than S$250 million on the Kuala Lumpur-Singapore high-speed rail (HSR) project, and is likely to expend another S$40 million or so by year-end, Transport Minister Khaw Boon Wan revealed in Parliament on Monday.
— The Business Times

Xiaomi: investors ‘can’t understand the company’
Why did China smartphone firm Xiaomi have such a disappointing debut on the Hong Kong stock exchange?
— BBC World Service

Feature photo Rajesh_India

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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 July 10 added by John Le Fevre on July 10, 2018
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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.