Singapore Morning News For June 22

New $80m food technology site in Singapore to ‘drive innovation’
Asian agribusiness company Wilmar International and the National University of Singapore (NUS) have established a new research laboratory to conduct clinical nutrition and synthetic biology research to create healthier food products.
— FoodBev

Singapore to use technology to enhance maritime safety
On 20 June, the Maritime and Port Authority of Singapore (MPA) announced that it will be embarking on several new initiatives as part of continued efforts to enhance safety at sea, especially in the Port of Singapore.
— Open Gov Asia

Australian telco to acquire Superinternet Group in $2M deal
Australian telecommunications provider MNF Group (ASX:MNF) has entered into an agreement to acquire Singapore-based Superinternet Group for S$2 million.
— Channel Asia Singapore

Singapore Airlines to shift planes from SilkAir to Scoot
Singapore Airlines said on Thursday (June 21) it expects to transfer some jets from its regional wing SilkAir to low-cost carrier Scoot, allowing it to compete more effectively against low-cost rivals in the region, like the AirAsia Group.
— Today Online

Singapore’s advertising economy set to become the only Asia Pacific market to shrink in 2018
Singapore’s advertising economy is expected to shrink by 2.2% in 2018, with export weakness, lethargic gross domestic product, US and EU policy uncertainty all contributing to weak consumer confidence, tight credit and slowdowns in spend.
— The Drum

Singapore-India telecoms target Indonesia and Australia
Singapore’s broadband internet provider MyRepublic is teaming up with India’s Tata Communications to provide new mobile services in the Asia-Pacific, as part of its plans to gain more market share in the region.
— Nikkei Asian Review (paywall)

MyRepublic launches 3 mobile plans, talks up customer focus | Video
MyRepublic on Thursday (Jun 21) unveiled its first commercial mobile services for the Singapore market, which are being positioned as “simple and worry-free” for the consumer. Channel NewsAsia reports.
— Channel NewsAsia (video)

Singapore-based game studio Mighty Bear raises $2.5M ahead of debut release
Mighty Bear, a game studio startup that grew out of King.com’s former office in Singapore, has landed new funding as it readies its debut title for smartphones.
— Tech Crunch

How much will it cost Singapore bosses to hire skilled talent in 2030?
By 2030, Singapore can expect to pay an extra US$29,065 (S$39,600) per highly-skilled worker per year – representing a wage premium equivalent to about 10% of the city state’s 2017 GDP.
— The Edge Markets

LNG hub to face competition from Singapore, China
THE PHILIPPINES is well-placed to become a regional hub for liquefied natural gas (LNG) though it will be competing with Singapore and some parts of China, an Asian Development Bank (ADB) official said.
— Business Online

Singapore Myanmar Investco faces summons linked to US$10.8m share sale
A JOINT venture partner of mainboard-listed Singapore Myanmar Investco (SMI) has filed an originating summons to block SMI’s US$10.8 million proposed disposal of TPR Myanmar.
— The Business Times (paywall)

Singapore top in Asia for policies that support charitable acts | Video
Singapore has come out tops in Asia for having policies and incentives that support charitable acts, according to the 2018 Doing Good Index.
— Channel NewsAsia (paywall)

Changi Prison raises tech bar with automated checks, surveillance system that detects fights | Video
The Singapore Prison Service is trialling three new technological initiatives, including an automated muster checking system, as it moves towards automating work processes in prison – or what it calls a “prison without guards” concept. Vimita Mohandas reports.
— Channel NewsAsia (video)

MOM takes action against 276 companies for lapses in machinery safety
Some 850 enforcement actions have been taken against 276 companies in the manufacturing, construction and marine sectors, following inspections conducted by the Ministry of Manpower (MOM) in the months of April and May this year.
— Today Online

Panopto Expands Video Cloud into Asia-Pacific Region
Panopto today announced the expansion of its cloud infrastructure, launching a new video hosting option on the Singapore-based Amazon Web Services (AWS) data center.
— AEC News Today/ PR Newswire (media release)

New tech system to detect prison fights, multi-use wrist tags for inmates rolled out
Fights in Singapore’s prison cells are rare, but they do occur. Intervening early so that arguments do not escalate into brawls is the best move, and the authorities here are testing a new surveillance system at Changi Prison to support their work in this area.
— Today Online

Asia’s Only Summit on Cross-Sector Enterprise AI Case Studies Returns to Singapore
Artificial Intelligence is now everywhere — whether we like it or not — and business leaders are now more aware than ever of the immense benefits this disruptive technology can bring to the bottom-line. In fact, Statista states that 84% of business leaders strongly believe that investing in AI will generate greater competitive advantage in this digital era.
— AEC News Today/ PR Newswire (media release)

Singapore’s UOB Asset Management launches new alternatives fund
Singapore-based UOB Asset Management (UOBAM) has launched a new fund targeted at retail investors in the city state seeking to diversify into alternative investments such as private equity and hedge funds.
— Asia Asset Management

Why must we lose to Singapore every time? Let’s beat them at their own game: Malaysia Finance Minister
Malaysia’s new Finance Minister Lim Guan Eng told a group of entrepreneurs at the Malaysian Global Innovation & Creativity Centre’s (MaGIC) Global Accelerator Programme (GAP) this Tuesday that they can “beat Singapore at their own game” instead of “losing” to the little red dot “every time”.
— The Independent Singapore

Aquatech pioneer Umitron closes S$11.2mil investment to lead sustainable development of aquaculture through technology.
UMITRON PTE. LTD. (Location: Singapore, Co-founder / Managing director Masahiko Yamada, hereinafter Umitron) announced that it had raised $11.2 million SGD on 8 June as the first enterprise equity finance.
— AEC News Today/ PR Newswire (media release)

EDB and Edelman Singapore sign 3-year deal in EPIC partnership
The Singapore Economic Development Board (EDB) and Edelman Singapore have agreed on a three-year strategic collaboration to research and develop new approaches to communications marketing planning using predictive and intelligent technologies.
— Marketing-Interactive

Singapore Memories – 20 Scents of Singapore as Room Fragrance “Atas”, “Glamour of ION”, “For my Tai Tai”, “Red Dot” and more
Singapore Memories (https://singapore-memories.com/collections/scent-serum-inspired-by-native-orchids-of-singapore) has announced the launch of 20 new room aromas as fragrant souvenirs named:
— AEC News Today/ PR Newswire (media release)

Annual Singapore Food Festival returns from July 13 to 29
The annual Singapore Food Festival (SFF) is set to return from July 13 to 29 for its 25th edition. It reprises last year’s theme of “Savour Singapore In Every Bite”.
— The Straits Times

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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 June 22 added by Leakhena Khat on June 22, 2018
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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.