Singapore Morning News For March 8

MPA Singapore plans to launch Maritime Transformation Programme and set up one-stop data repository
MPA has unveiled four broad strategies to drive Singapore’s next phase of growth as a Global Maritime Hub for Connectivity, Innovation and Talent: Strengthening Singapore’s Connectivity and Inter-linkages; Building a Vibrant Innovation Ecosystem; Developing a Future-Ready and Skilled Maritime Workforce; and Enhancing the Maritime Cluster Fund.
— Open Gov Asia

More firms with at least one woman in senior role but gender diversity still low: Survey
While more companies here now have at least one woman holding a senior management role, improving gender diversity at the top remains a work in progress, according to a survey by global consultancy Grant Thornton on Thursday (Mar 8).
— Channel NewsAsia

Singapore’s 2018 Budget: Key Highlights for Businesses
On February 19, Singapore’s finance minister Mr. Heng Swee Kiat delivered the 2018 budget.
With an emphasis on Asia, emergence of new technologies, and an aging population, this year’s budget focused on helping businesses in Singapore prepare for future challenges and create new opportunities.
— Asean Briefing

Singapore’s Million-Dollar Investments Will Drive AI Growth In Southeast Asia
Fingerprint scanners and face-recognizing cameras will become more common sights throughout Singapore’s businesses and public utilities, and major artificial intelligence companies kicking off operations in the country expect to bring their tech throughout the ASEAN region in the near future.
— Forbes

Mandatory registration for e-scooters from second half of 2018: LTA
The authorities are expanding mandatory registration for Personal Mobility Devices (PMDs) to include electric scooters, a month after tough new regulations kicked in against unregistered or non-compliant electric bicycles.
— Today Online

MOH to build up to 8 new polyclinics by 2030
The Ministry of Health (MOH) plans to build six to eight new polyclinics by 2030, Senior Minister of State for Health Lam Pin Min announced during his ministry’s Committee of Supply debate on Wednesday (Mar 7).
— Channel NewsAsia

Singapore Budget 2018: Higher airport charges now will avert big hike later: minister
RAISING passenger charges earlier to fund the airport’s Changi East development is being undertaken to avoid imposing a big hike in the amount airport users would have to pay down the road, said Second Minister for Transport Ng Chee Meng in Parliament on Wednesday.
— The Business Times

Is Singapore’s Debt Consolidation Plan Working? Household Debt Data Shows Mixed Signals
In 2017, the Monetary Authority of Singapore introduced a new financial instrument called debt consolidation plan (DCP) to help consumers rein in their bloating debt problem.
— The Independent Singapore

No more full rider policies for health insurance
Those looking to buy health insurance such as the Integrated Shield Plan (IP) will have to take note that full-rider policies, which can pay for your entire hospital bill regardless of its amount, will be a thing of the past.
— The New Paper

Life Insurance Association Singapore welcomes new co-payment requirements
The Life Insurance Association Singapore (LIA Singapore) on Wednesday (Mar 7) welcomed the changes in co-payment requirements for new Integrated Shield Plan (IP) riders.
— Channel NewsAsia

New transformation roadmap, tech to propel Singapore’s maritime industry
A new Maritime Transformation Programme (MTP) and the setting up of a data hub, as well as an injection of S$100 million in the Maritime Cluster Funds are among initiatives to position Singapore’s maritime industry for the next phase of growth.
— Hellenic Shipping News

Singapore Government aims to develop lifelong learners in preparation for dynamic future
During the Ministry of Education (MOE) in Singapore Committee of Supply (COS) Debate on March 5, it was revealed that the MOE will expand reskilling and upskilling opportunities, through industry-relevant and bite-sized modular courses.
— Open Gov Asia

Diabetes still top concern
This was unveiled by Ministry of Health (MOH) yesterday at the Committee of Supply debate, as part of its efforts to combat diabetes.
— The New Paper

1,400 people from Singapore have US$50m or more in net assets
Singapore’s ultra-wealthy population surged to 1,400 individuals in 2017, up 18 percent from 1,190 the year before, according to Knight Frank’s 2018 Wealth Report unveiled today.
— Property Guru

Govt to review regulations for taxi and private-hire car sectors in bid to prevent monopoly
As the lines blur between the taxi and private-hire car industries, the Government will review regulations governing the point-to-point transport sector so that no single player will dominate, Second Transport Minister Ng Chee Meng said on Wednesday (March 7).
— Today Online

Singapore energy startup Electrify raises $30m in token sale
Electrify, a Singaporean startup that allows consumers to compare prices before buying electricity via its marketplace, has raised $30 million in funding via token sale, boosting its efforts to make electrical energy more accessible and affordable in the region.
— DealStreetAsia

Feature photo Carolien Coenen

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 March 8 added by Leakhena Khat on March 8, 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.