Singapore Morning News For May 29

Grab launches GrabFood in Singapore; to offer service soon in Southeast Asia
Ride-hailing company Grab on Monday (May 28) officially announced it is offering GrabFood in Singapore, and the food delivery service will be available in five other Southeast Asian markets “within this quarter”.
— Channel NewsAsia

Malaysia axes high-speed rail link to Singapore
Malaysia is cancelling a project to build a high-speed rail link between its capital, Kuala Lumpur, and Singapore, Prime Minister Mahathir Mohamad said on Monday.
— The Sydney Morning Herald

ElderShield to be renamed CareShield Life with higher, lifetime payouts from 2020
The enhanced ElderShield insurance scheme will be renamed CareShield Life from 2020, and will dole out higher and lifetime payouts to severely disabled Singapore residents — up from a cap of six years.
— Today Online

Singapore MAS to require investors to report short positions on SGX stocks
Under the new rules, investors with short positions above the threshold of the lower of 0.2 percent of total issued shares or S$2 million ($1.49 million) will have to report the positions to the Monetary Authority of Singapore (MAS).
— The Star Online

Average cost of hiring an expat in Singapore fell last year: poll
THE average cost of employing an expatriate in Singapore shrank by more than US$12,000 between 2016 and 2017.
— The Business Times

NUS researchers create new hydrogel | Video
A team of National University of Singapore researchers have created a water-absorbing gel that not only reduces humidity and blocks out infra-red transmission, but also conducts and generates electricity.
— Channel NewsAsia (video)

Singapore’s GIC and local partner form joint venture to acquire WA’s National Lifestyle Villages
The Singaporean sovereign wealth fund and its partner Tasman Capital have formed a new group Serenitas to acquire NLV’s eight villages and two in development for a confidential price.
— The Weekly Resource

Singapore, India Exchanges Abandon Trade Link Talks
Singapore Exchange Ltd. and National Stock Exchange of India Ltd. have abandoned talks on a cross-border trading link, according to people familiar with the matter, amid a bitter court battle that’s soured an 18-year partnership.
— Bloomberg

KL-Singapore HSR: What you need to know
Construction for the Kuala Lumpur-Singapore high-speed rail (HSR) line was due to start this year, but the project is set to be derailed, after Malaysia announced on Monday (May 28) that it will be scrapping it.
— Channel NewsAsia

S’poreans invited to GST-free Johor come June 1, 2018. Mustafa may open there too
Johor’s chief minister Osman Sapian said he would welcome Singaporeans shopping in Malaysia on June 1 when the country’s 6 percent Goods and Services Tax (GST) will be abolished.
— Mothership

Singapore’s Team Flash sets sights on eWorld Cup in Amsterdam | Video
After recently extending their contracts with Team Flash, local pro gamers Amraan Gani and Joseph Yeo will be taking part in the FIFA eWorld Cup Global Series Playoffs in Amsterdam in June. Ahmad Khan with the story.
— Channel NewsAsia (video)

A penalty of RM500m with HSR scrapping
Malaysia’s PM Tun Mahathir said the country has to pay RM500 million if it was to cancel the High-Speed Rail project (HSR).
— The Independent Singapore

‘Big Four’ unlikely to be broken up here amid UK scrutiny of auditing
BRITISH lawmakers are calling for drastic change in the world of accountancy – but their concerns over competition may not have caught on here.
— The Business Times

60% of Singaporean staff experience above average stress levels
Are Singaporean employers doing enough when it comes to health and well-being programmes? It seems not. According to new research from Willis Towers Watson, local employers are still missing the mark, with many employees feeling that their needs are not being met.
— Human Resources Online

How are Singaporeans using their first property as an investment?
Let’s start by defining what we’re talking about – how does the typical Singaporean use their first property as a pure investment asset?
— Asia One

Singapore’s Avanda hires new business development head, report says
Singapore-based asset manager Avanda Investment Management (Avanda) has named Faith Toh as head of business development and marketing, according to finews.asia.
— Asia Asset Management

Why Singapore and Hong Kong’s language choices can’t be compared
I refer to the thought-provoking article by Regina Ip, “Lee’s mother tongue wisdom” (May 20).
— South China Morning Post

Feature photo Katja Maasing

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 May 29 added by Leakhena Khat on May 29, 2018
View all posts by Leakhena Khat →

Bio
Latest Posts

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.