Singapore morning news for October 15

Singapore morning news for October 15
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Singapore morning newsQ3 growth better than expected; economists upgrade 2018 forecasts
SINGAPORE’S economy turned in a better-than-expected report card for the third quarter, which led several economists to upgrade their full-year growth forecasts.
– The Business Times

Technopreneur, nurse and teacher in running for S’porean of the Year
Now in its fourth year and supported by the bank UBS Singapore, the award seeks to recognise Singaporeans whose extraordinary acts of goodwill have improved their community and the lives of others.
— The New Paper

Morgan Stanley sees 8% home price hike in 2019 despite cooling measures
MORGAN Stanley has predicted an 8 per cent increase in private home prices in 2019 despite cooling measures introduced in July to tame the market, a projection that stands in stark contrast to other research houses’ much tamer outlook.
— The Business Times

Singapore private home prices to rise by 10 per cent by next year end
Singapore private home prices may rise as much as 10 per cent by the end of next year said Morgan Stanley analysts in a note to clients on Friday.
— The Independent

MAS further tightens Singdollar policy
THE Monetary Authority of Singapore (MAS) is slightly increasing the pace of the Singapore dollar’s appreciation in keeping with a “modest and gradual appreciation path… that will ensure medium-term price stability”
— The Business Times

Undersea superhighway: A new 4,600km submarine cable linking Perth to Singapore
The better reliability and connection speeds that the new submarine cable provides has helped to attract the interest of Internet service providers (ISPs) here and abroad.
— The Straits Times

Only top 5% of Singapore earners can afford a landed property: study
With the skyrocketing prices of landed properties in Singapore, an average terrace house sold in H1 can only be afforded by buyers with a monthly income of around $34,646 or those who belong to the top 5% earners in Singapore or professionals such as specialist medical practitioners, CFOs, financial directors, and lawyers, a study by ValueChampion revealed.
— Singapore Business Review

StanChart CEO says ‘actively working’ on Indonesian bank stake
Standard Chartered Plc (STAN.L) is “actively working” on options for its stake in Indonesia’s PT Bank Permata tbk (BNLI.JK), the British lender’s Chief Executive Bill Winters said on Saturday.
— Reuters

Will the services sector buoy Singapore’s GDP amidst manufacturing’s slumping growth?
The growth of Singapore’s gross domestic product (GDP) clocked in at 2.6% YoY in Q3, a muted one compared to the 4.1% expansion back in Q2
— Singapore Business Review

Tan Jee Say asks if the Singapore Government will follow the lead of Malaysian leaders to publicly declare assets
Leader of the political party Singaporeans First Tan Jee Say has asked if the People’s Action Party (PAP) representatives – Members of Parliament and Ministers, including Prime Minister Lee Hsien Loong – will declare their assets publicly.
— The Independent

ST Engineering wins $5.5 million Singapore contract to test smart lamp-posts
Singapore Technologies Engineering has won a S$7.5 million ($5.5 million) contract for the trial of a smart lamp-post project in Singapore, which includes fitting sensors and cameras to posts in the city-state, according to the government’s official tender website.
— Reuters

Go-Jek in head-to-head fight with Grab for S-E Asian dominance
GO-Jek – which will enter Singapore in November – is on course to build an empire of over 20 business verticals and take on Grab to become South-east Asia’s most inclusive Super App.
— Business Times

Innovation in the business ecosystem
H.E. Kok Li Peng, Ambassador, Embassy of the Republic of Singapore in the Philippines, delivered the keynote address at the FINEX conference
— Business World Online

Dividend growth stocks trump Reits amid rate hike-driven volatility
AS interest rates perk up and bond yields rise, investors betting on Reits and other erstwhile defensive “bond proxy” dividend stocks for income are being forced to rethink their strategies.
— Business Times

Trade will evolve, not shrink with US-China trade war: Citi
THE US-China trade war may lead to more diverse trade flows, said a senior Citi banker.
— Business Times

Are Mala Potato Chips The Next Big Snack In Singapore?
Singaporeans’ inexplicable love for mala hotpot has spread to tidbits, with two new local brands — Mala Mala and Ooh — offering mala-flavoured potato chips.
— TodayOnline

Deals likely to boost confidence: Analysts
A planned US$10 billion (S$13.8 billion) currency swap deal and US dollar repurchase agreement between Singapore and Indonesia will boost confidence in uncertain times, say analysts.
— The Straits Times

Tax returns of 145 docs, dentists under scrutiny
The taxman has told 145 doctors and dentists and 32 medical groups that their tax returns are under scrutiny, for reasons such as setting up companies to enjoy a tax break and claiming family holiday expenses.
— The Straits Times

New campaign focuses on 3 factors that help smokers give up habit
More than 20,000 signed up for a 28-day programme run by the Health Promotion Board (HPB) to quit smoking last year, but only about 10 per cent stayed away from cigarettes for the entire duration.
— The Straits Times

Record $8.3m raised at President’s Star Charity 2018
A musical performance by President Halimah Yacob and her husband Mohamed Abdullah Alhabshee was among the highlights of the President’s Star Charity show last night. The event raised about $8.3 million – a record since the event began in 1994. President Halimah and her husband performed with The Purple Symphony, an orchestra that includes musicians with special needs. Proceeds will go to the 59 charities under the President’s Challenge 2018.
— The Straits Times

NParks exploring study of wild boars islandwide
The agency’s study would look at how far the pigs move in search of food, population densities, family size and reproduction rates.
— Straits Times

2 Singaporeans win big in Commonwealth essay competition
As a primary school pupil, Janine Shum felt like she was invisible, and frequently overlooked.
— The Straits Times

Will technology or humanity be the great leveller?
There is even some empirical evidence of this. According to a report published last month by the ASEAN+3 ­Macroeconomic Research Office (AMRO), highly skilled workers experienced the fastest-growing wage gains since 2007, while wages of low- and medium-skilled workers barely budged. The report was based on a study that examines the impact of technology on monthly wages and productivity gains in Singapore.
— The Edge

Right timing: STI could bounce, then resume downtrend
The Straits Times Index’s decline during Oct 9-11 took the index below a twice tested support at the 3,103 to 3,109 range. Short term stochastics turned down from the top end of its range as 21-day RSI tested 30, an oversold low. ADX is rising and the DIs remain negatively placed. In addition, quarterly momentum is falling.
— The Edge

Conservation of S’pore’s marine ecosystems ‘starts at home’, say experts
SINGAPORE — Many Singaporeans may not have heard of Pulau Satumu or Pulau Semakau, but these small southern islands boast a diverse marine ecosystem of coral reefs, coastal forests, mangroves and more.
— Today Online

Smuggling of turtle eggs foiled in 22 instances at checkpoints since April: AVA
SINGAPORE – Twenty-two cases of smuggled marine turtle eggs have been detected at the checkpoints since April, the Agri-Food and Veterinary Authority (AVA) said on Saturday (Oct 13).
AVA said in a Facebook post that in these cases, the marine turtle eggs were meant for personal consumption.
— The Straits Times

3 nabbed for duping man of $1.72m, largest amount lost in China officials impersonation scam this year
SINGAPORE – Three Taiwanese men were arrested on Friday (Oct 12) for their suspected involvement in a China officials impersonation scam in which a victim was cheated of $1.72 million.
— The Straits Times

2-metre-long python seen coiled around motorcycle exhaust pipe at Pasir Ris void deck
A python was seen coiled around the exhaust pipe of Stomper Khairul’s motorcycle which was parked at the void deck of Block 233 Pasir Ris Drive 4 yesterday (Oct 12) at about 5.30pm.
— Stomp (StraitsTimes)

S’porean floor artist got Master’s at 48, holds 24 records & did art with PM Lee “a few times”
When we arrived at Vijaya Mohan’s single-storey home in Potong Pasir, we were struck not just by how warmly welcomed we were, but also by the beauty of the myriad handmade artwork all over the front foyer of her house.
— Mothership

Penalties are lower if doctors own up
Concerned about high-earning medical professionals who might be guilty of tax evasion, the Inland Revenue Authority of Singapore (Iras) has urged doctors to own up voluntarily with the promise of lower penalties.
— The Straits Times

Balakrishnan: Apart from M’sia, Singapore has other concerns
Singapore’s important concern for now is the evolving bilateral relationship between the United States and China, although it keeps an eye on development in Malaysia.
— The Star Online

Singapore has bigger concerns beyond May 9
‘What happens in Malaysia is very important to us… but that is not the main strategic change – that is the imperative for the plans that we are unfolding right now in Singapore,’ says Minister for Foreign Affairs Dr Vivian Balakrishnan.
— New Straits Times

NEA defends operators: None of them has raised rental or operating costs
Recently, food guru KF Seetoh from Makansutra published a series of blogs highlighting the dire situation those hawkers operating under the Social Enterprise Hawker Centre (SEHC) operators are in. In particular, he published an open letter to Senior Minister of State Dr Amy Khor last Tuesday (9 Oct) imploring her to preserve Singapore’s public hawker centres.

Two Singaporeans win in Commonwealth essay competition
So when she decided to enter the Queen’s Commonwealth Essay Competition this year, it was this experience she drew on – and the authenticity of it scored her the title of junior winner.
— The New Paper

A review of the world’s longest flight on Singapore Airlines
SINGAPORE — Getting from Singapore to New York in one hop is better than a layover — even if it involves taking the world’s longest flight.
That’s my jetlagged verdict after disembarking from Singapore Airlines’s flight SQ22, the return of the carrier’s Changi-to-Newark journey after a five-year hiatus.
— Today Online


Feature photo Toluna/ quik_silvez

This week’s Singapore morning news feature photo acknowledges International Day for the Eradication of Poverty, October 17.


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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Maria Mirasol Rasonable graduated with a Bachelors Degree in journalism from Polytechnic University of the Philippines, Santa Mesa, Manila, Philippines.

She previously covered police rounds for Philippine Daily Inquirer as a trainee before becoming editorial staff at Gospel Komiks under the Communication Foundation for Asia (CFA-MG), Santa Mesa, Manila where she wrote lifestyle and trending fashion and styles articles.

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