Singapore morning news for October 25

Singapore on track to pursue industry 4.0 vision
SINGAPORE has been moving fast towards achieving industrial transformation by creating both soft and hardware infrastructures to support firms and workers to achieve industry 4.0.
— The Nation

60 electric buses worth S$50m to hit the road in 2020
Sixty electric buses from three suppliers will hit the road in 2020, providing commuters with quieter and smoother rides, said the Land Transport Authority (LTA) on Wednesday (Oct 24).
— Today Online

Malaysian national set to be hung this Friday in Singapore. Malaysian Ministers urge the Singapore Government to halt the execution.
In a UN day address, Minister Keong also called upon the Singapore Government to halt Prabu’s execution.
— TOC

Changi Airport Group full-year net profit up 28% to S$849m
CHANGI Airport Group’s net profit rose 28.3 per cent to S$849 million for the last financial year, which saw Changi Airport hitting record highs for passengers, concession sales and air freight throughput, its annual report on Wednesday revealed.
— The Business Times

6 MRT stations on EWL to close at 11pm on Fridays and Saturdays in November
SINGAPORE – Stations on a short stretch of the East-West Line will close earlier for maintenance works on several days in November.
— Straits Times

NTU scientists may have discovered new ‘game-changing’ treatment for Zika virus
SINGAPORE – Scientists from the Nanyang Technological University (NTU) have come up with a drug that could kill the mosquito-borne Zika virus before severe infection sets in.
— Straits Times

Singapore ranks third in educational mobility, but gaps remain: Report
More than 55 per cent of adults aged 26 years old and above in Singapore attained higher education than their parents.
— TodayOnline

Foreign Minister Vivian Balakrishnan, US’ Pompeo discuss Asean, East Asia summits
US Secretary of State Mike Pompeo spoke by phone with Singapore’s Foreign Minister Vivian Balakrishnan on Tuesday (Oct 23), the State Department said.
— Straits Times

Study by NTU ranks Singapore as second in terms of fare affordability out of 12 cities
Singapore ranked second in terms of fare affordability, across 12 major cities, which is measured as the proportion of disposable household income spent on public transport for the second quintile household group, reported the Public Transport Council (PTC) on Tuesday (23 October).
— TOC

iGTB Oxford School of Transaction Banking Huge Success on First-time Visit to Asia
The Asian Tiger Singapore showed its hunger for growth and digital transformation when more than 50 participants representing 25 leading Asian banks attended the fourth iGTB Oxford School of Transaction Banking, held at the Fullerton in Singapore – the first outside its home base, Oxford.
— AEC News Today/PR Newswire (media release)

Illegal medicines, weight-loss products worth S$9,000 seized during Internet-based sting operation
Weight-loss tablets and illegal drugs to treat sleep disorders, worth a total of S$9,000, were among the products seized in Singapore during a global Internet-based sting operation coordinated by the Interpol last week.
— TodayOnline

Oil sinks 5% on global equities slump, Saudi supply assurances
NEW YORK (REUTERS) – Oil prices plunged about 5 per cent on Tuesday (Oct 23) to two-month lows as a sell-off in global equity markets raised worries about demand growth and after Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of US sanctions on Iran.
— Straits Times

The digital divide is impeding development
For example, in July, Amazon sold more than 100 million products to consumers worldwide during its annual Prime Day event, a US$4.2 billion bonanza that included sales of table salt in India, Coke Zero in Singapore, and toothbrushes in China.
— The Asean Post

For pharma, volatility and value are two sides of the same coin
FOR the four months to July, Singapore’s export-oriented drug industry notched up double-digit yearly growth, while July exports surged a stunning 109 per cent – yet industry players are hard put to forecast a consistent trajectory.
— The Business Times

Osaka pins Singapore losses on serving woes
Naomi Osaka used her potent serve to punishing effect to claim the U.S. Open title last month but the Japanese has been unable to harness it’s full power at the WTA Finals, losing her opening two round-robin matches in tight three-setters.
— Reuters

Industry 4.0: Are businesses stepping up to be future-ready?
THE inaugural Industrial Transformation Asia-Pacific (ITAP), a Hannover Messe event, concluded in Singapore recently. As business leaders, experts, government representatives and other stakeholders gathered to discuss Industry 4.0, what emerged clear to all – including me as a panelist of the Asia Industry 4.0 Dialogue – was that technology adoption across Asia remained uneven.
— The Business Times

Man has almost $50,000 transferred without consent in phishing incident
SINGAPORE – A 22-year-old man had $49,500 transferred from his bank account without his consent after he gave his bank account details in a kidnapping scam.
— Straits Times

Singtel puts US$250m into funding round to grow African telco
SINGTEL will invest US$250 million in African telco Airtel Africa Ltd in a bid to tap the continent’s burgeoning use of mobile money and mobile wallets.
– The Business Times

Shielding Grab users hit by ‘rain’ surge pricing, NTUC Income gives commuters payout when they hail rides in rainy conditions
Anyone using ride-hailing services knows the curse of surge pricing all too well, but a new product aims to take out some of the sting.
— Straits Times

Driverless hover-taxis to take off in Singapore
Test flights of a driverless hover-taxi will take place in Singapore next year, a German aviation firm said, the latest innovation to offer an escape from Asia’s monster traffic jams.
— The Economic Times

Divorced woman must contribute to children’s education: Appeals court
The Court of Appeal has ruled that a divorced woman has to contribute to the education expenses of her two adult sons, from whom she has been estranged since she left home when they were in their teens.
— Straits Times

Two men charged over toy grenades put in public spots
Two 58-year-old Singaporean men were taken to court yesterday after they allegedly placed toy grenades in public places with the intention of duping others into believing that the devices would explode.
— Straits Times

NTUC allegedly coercing hawkers into signing legal documents in English without a translator present, pressuring them to buy mandatory insurance
A viral Facebook post by Gary Ho on Tuesday (23 Oct) revealed the extent to which hawkers are treated by the management of the hawker centre, and in this particular case, NTUC’s oppressive rules against hawkers at the iconic Old Airport Road Hawker Centre following its takeover was highlighted.
— The Online Citizen

All applicants for Temasek’s first retail bonds get some allocation after public offer upsized by $100m
This means a total $300 million was offered under the retail tranche. Temasek said this was to enable all valid applications to receive some allocation.
– Straits Times

FCT posts 3.6% drop in Q4 DPU to 2.862 cents on higher property expenses
SINGAPORE – Frasers Centrepoint Trust (FCT) posted a 3.6 per cent dip in distribution per unit (DPU) to 2.862 cents for its fourth fiscal quarter, compared to the 2.97 Singapore cents a year ago.
— Straits Times

Workers’ Party MPs call for public donations to fight legal battle & potential bankruptcy
The three Workers’ Party (WP) MPs involved in the ongoing Aljunied Hougang Town Council (AHTC) trial are preparing for the worst, even though they would “fight the claims vigorously”.
— Mothership

Meritocracy still the best model, says Ong Ye Kung
While the ongoing debate over social inequality has led to some valid criticism of meritocracy, it is still the best model for Singapore, said Education Minister Ong Ye Kung.
— Straits Times

NTUC Income launches Droplet – insurance plan to shield Grab customers from surge pricing when it rains
Droplet will pay up to 60 per cent of a commuter’s trip fare or cancellation fee if he or she hails a ride through a ride-hailing platform and it is raining at the point of pickup.
— Straits Times

Cabinet approves India-Singapore pact for setting up JWG on fintech
The government on Wednesday approved an MoU between India and Singapore to constitute a joint working group (JWG) on financial technology (fintech).
— Economic Times

NTUC Income’s new insurance plan shields commuters from surge pricing on Grab when it rains
IN a move that suggests ride-hailing and surge pricing are here to stay, NTUC Income on Wednesday announced the launch of Droplet, a first-of-its-kind insurance product that protects commuters against unpredictable surge pricing on ride-hailing platforms when it rains.
— The Business Times

More than 303,300 people and groups sign climate action pledge to reduce carbon footprint
SINGAPORE – Over 300 individuals attending an environment-themed event made a pledge on Wednesday (Oct 24) to make a difference in the fight against climate change.
— Straits Times

Companies say they’re ready to move supply chains from China
BEIJING (BLOOMBERG) – Earnings reporting season is underway, and analysts are eager to hear from executives about how an escalating trade war between the US and China is impacting their businesses. A common theme is that they are ready to relocate supply chains if the cost of importing Chinese goods becomes prohibitive.
— Straits Times

Former DBS employee given stern warning for Facebook post of torn Singapore flag: Police
SINGAPORE – A former DBS employee who posted an image of a ripped Singapore flag to Facebook has been given a stern warning by the police.
— Straits Times

Global Invacom to buy Malaysia biometric solutions firm Tactilis for US$200m
SINGAPORE – Satellite communications equipment provider Global Invacom Group (GInva) has agreed to acquire the entire issued and paid-up share capital of Tactilis, a Malaysian firm which makes proprietary biometric system-on-card solutions.
— Straits Times

Suntec Reit DPU up 0.3% for Q3
SINGAPORE – Suntec Reit has posted a third-quarter distribution per unit (DPU) of 2.491 Singapore cents, up 0.3 per cent from the same period a year earlier.
— Straits Times

Taxi driver opens door on expressway, causes chain reaction resulting in 2 motorcyclists crashing
A video posted to the Singapore Road Accident Facebook community group on Oct. 24 showed an accident purportedly on the SLE at the BKE exit.
— Mothership

Majority of self-pay machines at Ci Yuan Hawker Centre faulty
SINGAPORE (THE NEW PAPER) – Ci Yuan Hawker Centre in Hougang was the first in Singapore to have a self-payment facility at every stall when it opened in August 2015.
– Straits Times

Feature photo Ghetto Singapore/ National Archives of Singapore

This week’s Singapore morning news feature photo acknowledges World Day for Audiovisual Heritage, October 27.

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 October 25 added by Maria Mirasol Rasonable on October 25, 2018
View all posts by Maria Mirasol Rasonable →

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Maria Mirasol Rasonable

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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.