Singapore morning news for July 25

Property marketplace players threatened as DBS comes after their customers
Small startups aiming to get in on the action on Singapore’s profitable e-commerce scene may need to rush as heavyweight banks are increasingly muscling their way into the scene, effectively sealing their dominance across verticals.
— Singapore Business Review

Seniors to pick up fun skills with courses to create ringtones, code apps, make movies
Seniors keen on learning how to create ringtones of their favourite songs, run a blog, or code an app can now sign up for a series of new courses run by the Infocomm Media Development Authority (IMDA) in collaboration with tech giant Apple and the National Library Board.
— TodayOnline

Chart of the Day: NODX reduced to just 40% of Singapore’s GDP in 2018
This chart from Morgan Stanley shows the declining trend in the percentage of non-oil domestic exports (NODX) to Singapore’s gross domestic product (GDP). It crashed to 40% in 2018 from its peak contribution of more than 70% in 2006.
— Singapore Business Review

Singapore Cyber Security Czar already a Brigadier General at 41
Singapore Cyber Security Czar David Koh Tee Hian came under fire from netizens when he nonchalantly remarked during the recent cyber attack on SingHealth’s computer systems that the stolen information of the 1.5 million patients are only “basic demographic data”.
— The Online Citizen

DBS launches property marketplace, its third online consumer portal
DBS on Tuesday (July 24) officially launched an online property marketplace, where interested home-buyers and tenants may browse through listings by both agents and owners, as well as make transactions to buy or rent a property or apply for a property loan.
— Today Online

Frasers Centrepoint Trust’s Q3 net property income jumped 13.7% to $35.01m
Frasers Centrepoint Trust (FCT) turned a profit in the third quarter of 2018 as its net property income (NPI) jumped 13.7% to $35.01m from $30.79m last year. Revenue rose 10.9% to $48.32m from $43.56m last year.
— Singapore Business Review

Singtel, Ericsson to launch 5G pilot network in Q4
Singtel and Ericsson will launch what is touted as Singapore’s first 5G pilot network later this year to support trials of drones and autonomous vehicles.
— Telecomasia.net

MAS orders banks to tighten customer verification processes following SingHealth cyberattack
The Monetary Authority of Singapore (MAS) has instructed all financial institutions here to tighten their customer verification processes following the recent cyberattack at SingHealth, where the personal information of 1.5 million individuals were exfiltrated.
— TodayOnline

Marketing ‘paid’ internship programme launched in Singapore by IPG agencies
A new graduate programme to discover the marketing leaders of tomorrow has been launched by a number of IPG agencies in Singapore.
— MumbrellaAsia

Singapore’s new Security IDP initiative will leverage tech to help SMEs go digital
Singapore’s MHA and IMDA collaborate to bring tech to small-medium security agencies helping them go digital.
— OpenGovAsia

More investment dollars, refreshed tech roadmap in the works: S Iswaran
“We must be prepared to do more in R&D because digital technologies will only become more pervasive – and companies and countries around us are already investing heavily in this,” the Minister for Communications and Information says.
— Channel NewsAsia

Pareteum Awarded $5 Million Contract from Singapore-Based Mobile Solutions Company
Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing Global Cloud Software company, delivering award winning mobile enablement solutions, announced today that a Singapore-based provider of worldwide concierge and travel solutions has signed a 3-year $5 million agreement to utilize Pareteum’s Global Cloud Services Platform.
— AEC News Today/ Pr Newswire (media release)

From building homes to building bridges, 78-year-old is still helping others
For more than 20 years, Li De Yan helped to build Singapore with his bare hands.
— The Straits Times

Trans-Cab taxi bursts into flames along CTE, cabby escapes without serious injury
An elderly taxi driver has been taken to the hospital for chest pains after his Trans-Cab taxi caught fire along the Central Expressway (CTE) on Tuesday (July 24).
— TodayOnline

One-stop portal to provide info on social services
A one-stop online portal allowing users to look for information on social services was launched yesterday, the first time comprehensive information on such services has been consolidated into an online platform.
— The Newpaper

Commentary: For explosive growth, look to these two models of business
We need to reframe the conversation about SMEs and make sure we’re deploying the right sorts of support and incentives in our economy to help these gazelles grow, says one business observer.
— Channel NewsAsia

SIA’s Q1 profit outlook clouded by rising oil prices
Singapore Airlines (SIA) is releasing its financial statement for the first quarter of financial year 2019 on 26 July. Some analysts are expecting rising oil prices to hit the airline group and persist as a headache for the rest of the year.
— Singapore Business Review

A slow welcome for smart homes in Singapore
As more smart devices enter the market, the concept of a smart home in Singapore is slowly becoming a reality.
— Straits Times

Singapore’s GeTS launches world’s first cross-border blockchain for trade linking ASEAN and China’s Digital Silk Road
Singapore’s GeTS launches Open Trade Blockchain (OTB) which is aimed at linking ASEAN and China’s Digital Silk Road.
— OpenGovAsia

Fighting cancer while pursuing his dreams
As a child, he had always looked up whenever an airplane flew by. Even after he was diagnosed with soft tissue sarcoma, a rare form of cancer, at age 12, Mr B. Kanesh never gave up his dream of taking to the sky.
— The Newpaper

NTU Singapore partners the French Alternative Energies and Atomic Energy Commission to develop innovative e-waste recycling technologies
The collaboration’s four research thrusts will explore less energy-intensive and less toxic methods than currently exist. The pair will also collaborate with Singapore’s National Environment Agency (NEA) to set up the Singapore CEA Alliance for Research in Circular Economy (SCARCE).
— OpenGovAsia

NUS warns students of phishing scam emails from compromised NUS email accounts
A reader has sent the following screenshot of an email sent by the National University of Singapore (NUS) on 16 July.
— The Online Citizen

Woman jailed two weeks for riding bike into elderly woman
A cyclist who knocked down an elderly woman in a market, leaving her with a broken left hip bone, was sentenced to two weeks’ jail yesterday.
— The Newpaper

Feature photo velo_city

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 July 25 added by Maria Mirasol Rasonable on July 25, 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.