Singapore Morning News For July 6

Singapore Morning News For July 6
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Singapore morning newsWatchdog rules Grab’s buyout of Uber’s regional business unlawful
After more than three months of deliberation, the Competition and Consumer Commission of Singapore (CCCS) has determined that ride-hailing firm Grab’s acquisition of American rival Uber’s South-east Asian business is an infringement of competition laws and proposes to slap fines on both players.
— The New Paper

Property hunters rush to make buys as stamp duty hike looms
Some time during dinner hours on Thursday (July 5), the mobile phones of property agents across the island lit up with text messages and calls

Higher stamp duties and tighter loan limits for home purchases
Concerns about the swift rise in private home prices have prompted the authorities to further tighten cooling measures in a surprise move last night that will lead to property buyers paying higher stamp duties.
— The New Paper

Grab challenges CCCS’ anti-competitive ruling over merger with Uber
CCCS wants to require Grab to remove its exclusivity obligations, lock-in periods, and termination fees; and revert to its pre-merger pricing algorithm. It also wants to require Uber to sell Lion City Rentals to a potential competitor except for Grab.
— Singapore Business Review

Spyder air defence system hits full operational status
A ground-based air defence system that can respond faster and with greater precision to aircraft and munition threats attained full operational capability status yesterday.
— The New Paper

The Japanese ski town that wants Singaporeans to move in
Less developed than Niseko and with more powder snow to boot, Kiroro is the Hokkaido winter wonderland that’s ready for you to visit – maybe for longer than a short vacation.
— Channel NewsAsia

Johor Chief Minister suggests raising price of water sold to S’pore as much as 16-fold: Report
The Johor government said on Thursday (July 5) that the time has come to raise the price of raw water it sells to Singapore, adding that it may ask for a price hike of up to 1,600 per cent that it hopes the Republic would accept.
— TodayOnline

PUB Assistant Chief Executive: I don’t know if water prices will go up
In an interview with Channel NewsAsia which was published yesterday (‘Need more water? PUB aims to produce more with same amount of resources’, 4 Jul), Public Utilities Board (PUB)’s assistant chief executive Harry Seah talked about investing in Research &Development (R&D) to double the amount of water by 2060 to meet demand.

Escaped smuggler suspect causes 2hr lockdown at Woodlands Checkpoint
A fleeing cigarette-smuggling suspect caused a two-hour lockdown at the Woodlands Checkpoint early yesterday morning.
— The New Paper

Singapore hopes US, China can resolve trade disputes ‘speedily’
Deputy Prime Minister Teo Chee Hean said Singapore hopes the US and China will be able to resolve their trade disputes “speedily” and in a way that can benefit everyone.
— The New Paper

Cleaner jailed two years for stealing $400k diamond while out on bail
A part-time cleaner stole a $400,000 diamond from her employer, hours before she was due in court to be sentenced for other theft offences.
— The Straits Times

Bike-sharing prices could surge over falling competition
With ShareBikeSG’s sudden exit coming hot on the heels of earlier pullouts from Singapore’s bike sharing scene, analysts believe that the possibility of higher prices and less bookings loom even closer for patrons of the service.
— Singapore Business Review

PM Lee thinks economic growth of 2-3% is ok for Singapore’s current phase but potential Prime Minister think it is “rather depressing”
Speaking at the Public Sector Transformation Awards ceremony on Wednesday (4 July), Minister for Trade and Industry Chan Chun Sing said that a new mindset is required for civil servants to transform Singapore’s public service.

Durian prices plunge amid supply glut
Durian prices have dropped dramatically due to an oversupply caused by hot weather in Malaysia, vendors in Singapore say.
— The New Paper

Car showrooms fill up, as COE prices fall to new low and dealers dangle discounts
Crowds thronged the car showrooms on Thursday (July 5), a day after Certificate of Entitlement (COE) premiums for cars fell to their lowest in eight years.
— TodayOnline

SGX to amend financial and capital requirements for bank and remote members
The Singapore Exchange (SGX) is asking for feedback on its proposal to recalibrate the financial and capital requirements of Remote Clearing Members (RCM), Remote Trading Members (RTM), Bank Clearing Members (BCM), and Bank Trading Members (BTM).
— Singapore Business Review

Can StarHub’s ICT gains offset declines in PayTV and mobile?
StarHub’s go-to strategy of bundling mobile, broadband, and Pay-TV services continues to face declines due to the proliferation of over-the-top (OTT) TV services. According to DBS Equity Research, nearly 24,000 customers (7%) with subscriptions to three or more services have downgraded since 1Q2016.
— Singapore Business Review

SingPost board remuneration dropped 14% in 2017 after revamp
Following shareholder criticism over certain acquisitions and a subsequent special audit, Singapore Post’s (SingPost) remuneration structure has been aligned with the company’s underlying performance, Maybank Kim Eng found out.
— Singapore Business Review

oBike used unreturned deposits for funding bike purchases: CASE
The Consumers Association of Singapore (CASE) is pursuing oBike on grounds of breaching the Consumer Protection Act which prohibits suppliers from asserting a right to payment for the supply of unsolicited services, an announcement revealed. The agency found that the consumer deposits were never intended to be used as a prepayment for future services based on the rental service agreement.
— Singapore Business Review

From Singapore to the world: 3D printed toilets and next-gen water treatment membranes
If scientists from the National University of Singapore (NUS) had their way, toilets in Singapore and abroad would be built more cheaply and rapidly using 3D printing.
— TodayOnline

Only 51 per cent of drivers pass PDVL test by June 30 deadline
Almost half of the drivers who obtained an Approval-to-Drive (ATD) concession had not passed the Private Hire Car Driver’s Vocational Licence (PDVL) test by the June 30 deadline.
— The New Paper

Singapore offers assistance to extract Thai youths stranded in flooded cave
Prime Minister Lee Hsien Loong has offered the Republic’s assistance to help bring a youth football team trapped in a flooded cave complex to safety.
— TodayOnline


Feature photo Ravenblack7575


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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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.

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