Singapore Morning News For May 18

Singapore Morning News For May 18
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Singapore morning newsSingapore clinches its 30th ‘Best Seaport in Asia’ award for ‘leading performance’
The Port of Singapore has bagged its 30th “Best Seaport in Asia” award at the 2018 Asia Freight, Logistics and Supply Chain Awards (AFLAS) in Shanghai.
Business Insider

Singapore Airlines’ full-year profit rises to seven-year high
Singapore Airlines (SIA) posted a profit of S$893 million in the financial year ended March 31 — the highest since 2011, and a 148-per-cent increase from a year ago.
Today Online

Singapore aims to attract foreign investment
The Thai Ambassador to Singapore has suggested that Thai SMEs capitalize on Singapore’s policy to attract foreign investment.

Singtel posts record full-year profit
Singtel has reported a record full-year profit of S$5.45 billion ($4.06 billion) for the 12 months ending in March, mostly as a result of the windfall the company received from the NetLink NBN Trust IPO last year.

Singapore company fined $6,000 for illegal import of fruits and vegetables
TCM Fruits and Vegetables Pte Ltd has been fined $6,000 in court today for importing fresh fruits and vegetables without declaring in the import permit. TCM Fruits and Vegetables Pte Ltd was also charged for illegal import of processed vegetables. This was taken into consideration in the sentencing.
Fresh Plaza

Cowi wins design deal on Singapore sewer tunnel
A joint venture of Cowi and CPG Corporation – formerly Singapore’s public works department – has been awarded the design works for a phase of the country’s new sewage tunnel system.
New Civil Engineer

Singapore’s commodity trading hits new S$28b high in local business spending
COMMODITY trading hit a new high of S$28 billion in local business spending and hired more than 15,000 professionals last year, representing a 2.7 per cent compounded annual growth rate over the past five years.
Business Times 

SilkAir to merge into Singapore Airlines after undergoing $100m revamp of cabin products
Singapore Airlines’ regional arm, SilkAir, will undergo a significant upgrading of its cabin products as part of plans to eventually merge with Singapore Airlines (SIA).
The Straits Times 

Singapore to create ‘largest’ artificial reef at Sisters’ Island
The project will see between four to eight giant artificial reef structures being pre-fabricated off-site and sunk in the waters off Small Sister’s Island, within the Sisters’ Islands Marine Park.
Channel NewsAsia (video)

Group led by Hong Kong conglomerate New World Development wins Singapore plot for US$306.76 million
Hong Kong conglomerate New World Development is part of a consortium that has won the tender for a luxury residential site close to Orchard Road, Singapore’s famous shopping and entertainment strip, securing the plot for S$2,377 per square foot, a record for all government residential sites in the city.
South China Morning Post 

Singapore-Italy Defense Ties in Focus with Air Force Chief’s Introductory Visit
The trip put the spotlight on one of Singapore’s foreign defense partners.
The Diplomat (paywall)

Housing and urban plans must be inclusive and resilient: Lawrence Wong
Housing and urban plans in Singapore must continue to push back against the growing pressures of inequality and social stratification, Minister for National Development Lawrence Wong said on Thursday (May 17).
Channel NewsAsia (video)

Open up to dissenting voices to build a more resilient Singapore: NMP
In what she said was probably her last major speech in the House, Nominated Member of Parliament Kuik Shiao-Yin called on the Government to seek out more “non-establishment types” to participate in national-level focus groups, committees, boards, ministries and Parliament to build a more resilient system.
Today Online 

Singapore’s non-oil exports surge in April after 2-month decline as electronics shipments continue to fall
Singapore’s non-oil domestic exports have gone through an upsurge in April after experiencing an initial decline in the previous two months.
Business Insider

Exclusive ranking: Singapore’s 10 most attractive employers
Responding to queries by Human Resources, Randstad exclusively revealed the 10 most attractive employers in Singapore.
Human Resources Online 

Asia oil bill to top $1 trillion a year as crude hits $80
The cost of Asia’s growing thirst for oil will surpass $1 trillion (£740.2 billion) this year, about twice as much as in 2015 and 2016, as oil prices touch $80 per barrel and continental demand hits a record.

Singapore Legislates For IP Tax Concession Reform
Singapore has gazetted a law to repeal the income tax concession for intellectual property income derived by companies benefiting from the Pioneer Service Companies Incentive (PC-S) or the Development and Expansion Incentive (DEI) schemes.

SCDF NSF death: There will ‘almost certainly’ be criminal proceedings, Shanmugam says
Investigations into the death of a Singapore Civil Defence Force (SCDF) full-time national serviceman (NSF) are ongoing, and Home Affairs Minister K Shanmugam said on Thursday (May 17) that there will “almost certainly” be criminal proceedings.
Channel NewsAsia 

Singapore chain to sell slices at Aeon 2
Singapore-based pizza chain Pezzo Pizza will open its first store in Cambodia on May 30, becoming the Kingdom’s first restaurant to sell pizza by the slice, which the company’s executive expects to be popular with price-conscious consumers.
The Phnom Penh Post 

SMS Chee Hong Tat highlights three strategies to grow Singapore’s economy
The 4G leadership will grow Singapore’s economy by being pro-business, pro-Singapore and pro-talent, Senior Minister of State for Trade and Industry Chee Hong Tat said on Thursday (May 17) in Parliament.
Channel NewsAsia 

CDL, Distrii open Singapore’s single largest and tech-driven co-working facility
REAL estate developer City Developments (CDL) and Chinese co-working operator Distrii have joined forces to soft-open Singapore’s single largest and tech-driven co-working facility on Thursday.
The Business Times 

Singapore youths no longer drawn to 5Cs; they have YOLO mindset: Maliki
The younger generation in Singapore are developing their own definition of success, and the Government will need to co-create the right social compact for their time, Dr Maliki Osman said in Parliament on Thursday (May 17).
Channel NewsAsia 

McDonald’s signs on as JC Decaux’s first client in Singapore since winning bus shelters OOH pitch
McDonald’s has partnered with JCDecaux in Singapore to target consumers with out-of-home advertisements using the OOH media company’s six-sheet advertising faces panel.
The Drum 

Singapore endeavors to ease job-matching for wholesale trade industry
Enterprise Singapore, a government agency that champions enterprise development, on Thursday established an initiative called Wholesale Trade Placement Accelerator.
Xinhua Net 

5 jailed for buying tourist attraction tickets with stolen credit card details
Five Malaysian men from a transnational credit card fraud syndicate have been jailed for buying online tickets for a tourist attraction with stolen credit card details, police said on Thursday (May 17).
Channel NewsAsia 


Feature photo Salmiac


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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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.

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