Singapore morning news for September 12

Singapore Plans New Bill to Attract More of World’s Millions
Singapore, one of the world’s easiest places to do business, is making it simpler for investment managers to register funds locally as the city-state goes after a bigger slice of the $69 trillion global asset-management industry.
— Bloomberg

Singapore stocks hit 1.5-year low as Southeast Asian markets fall
Most Southeast Asian stock markets ended lower on Tuesday, with Singapore hitting a one-and-a-half year low and Philippines extending losses to a fifth session amid fears of further escalation in the US-Sino trade war.
— Channel NewsAsia

Ministry still studying how to implement Vers
Even as anticipation over the Voluntary Early Redevelopment Scheme (Vers) builds up, National Development Minister Lawrence Wong has urged patience about the details, noting that the more immediate policy to watch is an expanded upgrading programme.
— The New Paper

Electronic voter registration on the cards for next General Election
The Elections Department (ELD) plans to introduce electronic voter registration at the next General Election (GE), with a tender to procure the necessary equipment expected to be called later this year.
— TodayOnline

Umitron Expands Early Stage Funding to S$15.2mil and Starts Data Service for Aquaculture Insurance Leveraging IoT and Satellite Remote Sensing
UMITRON PTE. LTD. (Location: Singapore, Co-founder / Managing director Masahiko Yamada, hereinafter “Umitron”) announced that it has raised S$3.7mil funding from Mirai Creation Fund operated by SPARX Group. Co., Ltd. on 6th September as the additional closing of first enterprise equity finance announced on 8th June.
— AEC News Today/ PR Newswire (media release)

PM Lee to speak at World Economic Forum on Asean
Prime Minister Lee Hsien Loong arrives in Hanoi today to attend the World Economic Forum (WEF) on Asean.
— The New Paper

Enterprise Singapore’s investment arm seeks co-investors in agrifood start-ups
Enterprise Singapore (ESG) investment arm Seeds Capital is seeking co-investment partners for agrifood start-ups, under a call for partnership which was launched on Tuesday (Sept 11) and closes on Oct 5, 2018.
— The Straits Times

Only budget flights between Singapore and London set to stop
The only budget flight between Singapore and London will cease operating in January when Norwegian Air drops the route that was launched just a year ago.
— The New Paper

Facebook to build data center in Singapore
Facebook has revealed that it’s first custom-built data center in Asia will be located in Singapore. The 170,000 square meter data center represents an investment of more than S$1.4 billion ($1.01 billion), and forms part of the company’s growing presence in Singapore and across Asia.
— Telecomasia

TT International unit Big Box Singapore starts liquidation proceedings
Big Box Singapore (BBS), an indirect wholly-owned subsidiary of TT International Limited initiated creditors’ voluntary liquidation proceedings on Tuesday (Sept 11).
— The Straits Times

Soft gaming revenues push casino operators to be aggressive in Japan bid
Singaporeans spent $1.5b on gambling and entertainment but this proves to be small compared to casino companies’ potential income from Japan.
— Singapore Business Review

Women’s Forum Singapore to focus on social, economic issues
Addressing these challenges is the first Women’s Forum Singapore, which will take place from today to Friday at Raffles City Convention Centre.
— The New Paper

Asean youth bullish about impact of technology on jobs
The youth of Singapore and Thailand were much more pessimistic in their responses, while the youth of Indonesia and the Philippines were much more optimistic.
— The Nation

NXP shares drop after executives outline post-Qualcomm path
Shares of Dutch chipmaker NXP Semiconductors fell 4.4 percent on Tuesday after executives outlined their strategy after the collapse this year of a proposed merger with Qualcomm Inc but said they did not expect to raise gross margins to the level of rivals like Intel Corp .
— Channel NewsAsia

AI CRYPTO Unveils First AI Blockchain for Real Business
AI Crypto is a game-changing project that finds identity in an innovative blend of Artificial Intelligence (AI) and Blockchain technology.
— AEC News Today/ PR Newswire (media release)

A park for the young and old to come together
Construction of the 4.8ha Bukit Gombak Park, which is almost the size of seven football fields, is expected to start by the end of the year and will be completed by the end of 2019.
— The New Paper

Retail market could see more conversions to flexible workspace: analyst
“This is likely an adaptation to the tough retail leasing climate in Singapore,” the firm noted.
— Singapore Business Review

Singapore business sentiment moderates for Q4: Survey
Business sentiment has moderated slightly for the upcoming final quarter of this year, ending the rising trend of the preceding three quarters, according to the latest quarterly Singapore Commercial Credit Bureau’s Business Optimism Index released yesterday.
— The Straits Times

Daily Briefing: Government calls for public recommendations over SingHealth attack; National development minister says seniors could monetise HDB flats for retirement
Public recommendations on how to deal with cybersecurity attacks in the light of the SingHealth hacking are welcome until 31 October, The Committee of Inquiry (COI) into the Cyber Attack on SingHealth said.
— Singapore Business Review

Gay sex law repeal ‘can help victims’
Decriminalising gay sex may help some sexual assault victims to be more willing to report abuses, said the Association of Women for Action and Research (Aware).
— The New Paper

Culinary legend Marco Pierre White’s first restaurant in Asia, The English House, finally opens in Singapore
“They sell tyres and I sell food”: The celebrated British chef and restaurateur tells CNA Lifestyle why he turned down Michelin Guide Singapore and the importance of respecting local culture.
— Channel NewsAsia

Ban on grid girls won’t keep Singapore Girl away from F1 race
Grid girls have been banned by Formula One’s authorities, but the Singapore Girl will still appear at the Marina Bay Street Circuit this weekend.
— The Straits Times

Singapore’s Builders Seen Facing Debt Troubles Amid Curbs
Singapore’s small construction firms are likely to face more difficulties repaying debt as a clampdown on property speculation worsens their already tight liquidity.
— Bloomberg

Tap, scan, donate: More social service organisations going cashless for fundraising
As Singapore moves towards becoming a “smart nation”, the charity and social service sector is also making the leap.
— TodayOnline

GIC, GLP establish US$2 billion fund to acquire logistics facilities in China | Videos
Singapore sovereign wealth fund GIC has partnered logistics facilities provider GLP to set up a US$2 billion (S$2.8 billion) fund to acquire income-generating logistics facilities in China, said the companies in a joint news release on Tuesday (Sep 11).
— Channel NewsAsia

SingHealth cyber attack hearings resume Sept 21; inquiry committee seeks recommendations from the public
The Committee of Inquiry (COI) set up to look into the events and factors that led to Singapore’s worst cyber attack on public healthcare cluster SingHealth will resume hearings on Sept 21.
— TodayOnline

Singapore seeks to attract more of world’s millions
Singapore, one of the world’s easiest places to do business, is making it simpler for investment managers to register funds locally as the city-state goes after a bigger slice of the $69 trillion global asset-management industry.
— Bangkok Post

NTU students get new rest pod
Given six months to create their own business venture, a team of Nanyang Technological University (NTU) students taking entrepreneurship as a minor decided a nap was needed.
— The New Paper

5th Edition of SIGEF in Singapore, fostering technology for good and further UN SDGs
Horyou, the social network for social good, and Horyou Foundation is organising its fifth edition of the Social Innovation and Global Ethics Forum, SIGEF, at Suntec, Singapore on September 12-13.
— TOC

Singapore’s Haze Law Faces Challenge in Indonesia
Indonesia’s complex rules on land use and the difficulty in prosecuting foreign businesses mean Singapore has its work cut out bringing companies to book under its new cross-border air pollution law.
— Scientific American

Feature photo Arulonline

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 September 12 added by Maria Mirasol Rasonable on September 12, 2018
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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.