Singapore morning news for October 29

Singapore morning news for October 29

Singapore morning newsPrices of consumer goods lower here, but no clear link to e-shops
A year since Mr K. W. Toh decided to set up online stores on Carousell and Lazada after the closure of his Sim Lim Square outlet, the director of audiophile equipment seller Alpha Audio has repeatedly heard this question about his online prices: Why should I buy from you when Amazon has it for cheaper?
– Straits Times

On the up: Electricity and gas bills, petrol, food prices for 2018 and 2019
Electricity and gas bills, petrol costs, and food prices are expected to go up for the rest of this year and into the next year. This comes on the back of higher oil prices and concerns over weather conditions affecting the production of Singapore’s key food import sources.
— Today Singapore

WP MPs suspend public appeal for legal funds after raising more than S$1 million
After raising more than S$1 million in about three days, the three Workers’ Party Members of Parliament (MPs) who are facing civil lawsuits have suspended their public appeal for legal funds.
— Today Singapore

Singapore is designing and making watches – but Singaporeans aren’t buying
If you’re a watch enthusiast, you’ll be familiar with cult, independent marques like Greubel Forsey, MB&F, and Urwerk.
— Channel NewsAsia

Key objective of laws curbing fake news is to stop its effect: Edwin Tong
Although it is a challenge to prosecute perpetrators of fake news based overseas, the key objective of laws to combat online falsehoods should be to suppress their operations and prevent such fake news from circulating further, said Senior Minister of State for Law Edwin Tong.
— TodayOnline (annoying pops)

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EU and Singapore partner on digital identity
The European Union (EU) and Singapore will form a joint task force to co-develop electronic ID frameworks that can work across borders, and trust services, like e-signatures.
— GovInsider

Immunotherapy Today – Revolution In Treatment Of Blood Cancers
In blood cancers, particularly liquid tumours such as leukaemia, treatment has generally required systemic chemotherapy. In recent years, however, newly developed targeted forms of therapies are increasingly being used in the treatment of blood cancers.
— Straits Times

Smart Cities Technology License Agreement Signing Ceremony
Singapore SME, Photizo Global Pte Ltd, signs its first i-CoreTM Licensing Agreement with Al Sharif Networks and Distribution Limited Co (ASGX), a subsidiary of Al Sharif Group Holdings (ASG), and Taqnia Energy from Saudi Arabia, in a global deal which is potentially worth more than USD500 million, at the Signing Ceremony held on 25 October 2018 at Marina Bay Sands Convention Centre, Hall 4812/4811.
— AEC news Today/PR Newswire (media release)

Big data is revolutionising microfinancing
In Southeast Asia, the biggest microfinance players currently include Asia Pacific-based LenddoEFL, Singapore’s CredoLab and the Philippines’ Lendr.
— The Asean Post

Implementation of minimum wage in Singapore impractical for employers, may encourage unemployment: Minister for Manpower Josephine Teo
The prospect of implementing a uniform minimum wage in Singapore remains impractical, as doing so would corner employers into paying their workers a higher salary than the market rate, producing the effect of a “tax” on employment, said Minister for Manpower Josephine Teo on Friday (26 Oct).
— TOC

How ratings agencies work
Only 11 countries have a “triple A” rating. They are Germany, Denmark, Netherlands, Sweden, Norway, Switzerland, Liechtenstein, Luxembourg, Canada, Australia and Singapore.
— The Asean Post

Janil Puthucheary and Cherian George spar over claim that Government selectively lets society ‘decide’ on divisive issues
After giving speeches separately on managing diversity in the socio-political space, Dr Janil Puthucheary and academic Cherian George were caught up in a charged debate later over their divergent views on the topic of government intervention.
— TodayOnline

Procter & Gamble to invest an additional US$30 million through partnership with Singapore’s Economic Development Board
Procter & Gamble (NYSE: PG), in partnership with the Singapore Economic Development Board (EDB), today announced an additional investment of US$30 million or S$45 million into its digital innovation center in Singapore, just over one year after its launch.
— AEC News Today/PR Newswire (media release)

MHA reviews restrictions on food with alcohol content
The Ministry of Home Affairs (MHA) said in a statement yesterday that it is in discussions with the Ministry of Trade and Industry and industry stakeholders to look into providing an exemption for the sale of food products containing alcohol, where there is little or low likelihood of alcohol abuse.
— The New Paper

Alexandra Hospital to open new facilities, increase number of beds
Alexandra Hospital, which was taken over by the National University Health System (NUHS) in June, plans to open new facilities and increase its 176 beds to around 300 by 2020 to cater to an expected growth in demand from the Queenstown area.
— Straits Times

Owners of failed SMEs hit by huge debts
Successful start-ups in Singapore are often glamorised, used as examples of the heights one can attain through innovation and grit.
— The New Paper

Still a long road to recovery for small O&M firms
BARGAIN-hunting in the small capitalised offshore and marine (O&M) equity market appear to have returned as healthier oil prices lift the hopes of a recovery in the sector.
— The Business Times

Singapore Jewellery & Gem Fair: A Festival of Jewellery Design and Artistry
The Singapore Jewellery and Gem Fair (SJGF), which opens to public today at Marina Bay Sands (Hall A & B) till 29 October, brings a wide showcase of exquisitely designed and made jewellery pieces from more than 120 exhibitors from 15 countries and regions.
— AEC News Today/PR Newswire (media release)

Enhanced measures to ensure better diets in pre-schools
To ensure that more children adopt healthy eating habits in their early years, the Government will progressively tighten the nutritional content requirements in food served in pre-schools, said Deputy Prime Minister Tharman Shanmugaratnam.
— Straits Times

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Spirited debate shows S’poreans’ passion for hawker culture: NHB
This has come as Singapore is attempting to put together nomination papers to inscribe hawker culture as part of Unesco’s Representative List of the Intangible Cultural Heritage of Humanity.
— The New Paper

J&J drug unit to leverage Singapore’s biotech hub
JOHNSON & Johnson’s (J&J) regional pharmaceutical head believes that Singapore offers innovation, research and development tie-up opportunities, even as wider insurance coverage in the Asia-Pacific is expected to fuel growth for drugmakers.
— The Business Times

Fort Canning exhibition site to get revamp
On the same day the National Parks Board (NParks) announced plans for an update to the exhibition site of an archaeological dig at Fort Canning Park, a team found a rare piece of Thai ceramic.
— Straits Times

SGX RegCo to relook exit offers, voting requirements for delistings
DELISTING offer prices may have to be both fair and reasonable in future, and the voting requirements tweaked, if proposed changes being considered by the Singapore Exchange Regulation (SGX RegCo) come to pass.
— The Business Times

First section of Lornie Highway opens to traffic
After repeated delays stretching more than two years, the first section of the Lornie Highway – previously known as the Bukit Brown Road – was finally opened to traffic early yesterday.
— Straits Times

Game, on
In August, the Asian Games 2018 in Jakarta had a special showcase. The 5,000-capacity BritAma Arena, normally a venue for Indonesia’s top basketball league’s games, was the stage for quite a different kind of game.
— The Edge

Brokers’ Call
Singtel’s earnings have possibly bottomed out in Q1 2019 and are expected to grow in financial year 2020 forecasts (after two years of decline), led by Telkomsel, AIS and Globe despite a delay in Bharti Airtel’s recovery.
— Straits Times

Digging Fort Canning Park: Refreshed archaeological site, restored gardens to open by June 2019
Several new attractions showcasing the rich history of Fort Canning Park will be ready by June next year, breathing fresh life into the 18-hectare site.
— Today Singapore

From shackles to jail cell: A convict’s journey from court lock-up to Changi Prison Complex
An inmate’s first time behind bars can be tough but wardens at Changi Prison Complex (CPC) look out for signs of anxiety among new arrivals and will pull these inmates aside to reassure them that they will be kept safe.
— Straits Times

Maybank Singapore eyes wealth business with new Orchard branch
MAYBANK Singapore is about to begin a new phase as it incorporates locally, 58 years after the bank first began operating in the city-state.
– The Business Times

Doc Talk: Catch a tiger’s cub outside the den
Over a casual lunch with an old friend, I was given a mini-dissertation on how our blood groups should dictate the lifestyles we adopt – from diet to exercise regimens.
— Straits Times

1,000 electric vehicle charging points to be installed by SP Group by 2020
By 2020, SP Group will carry out the installation of 1,000 electric vehicle (EV) charging points, which is twice the original number anticipated in June.
— TOC

Public assistance payouts may go up
A scheme that provides financial aid to destitute people who permanently cannot work due to old age or illness is undergoing a review, which may see them getting more money.
— Straits Times

Tony Tan heads list of National Day Award winners
Nearly 10 years before the National Gallery Singapore opened its doors to the public in 2015, then chief executive of the Singapore Exchange Hsieh Fu Hua was asked to join a committee in charge of shaping it.
— Straits Times

What kind of image is the Singapore government hoping to cultivate?
Hosting a well known dictator (including paying for his accommodation and expenses while he and his entourage were in Singapore), displaying a flagrant disregard for human life by pressing ahead with controversial hangings, a high profile law suit involving the top brass of Singapore’s leading opposition party on arguably pointless grounds and cracking down harshly on individuals with no political power, one has to wonder what kind of image the Singapore government is hoping to cultivate.
— TOC

 

Feature photo Utica Private Limited

This week’s Singapore morning news feature photo acknowledges World Cities Day, October 31.

 

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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