Singapore morning news for September 4

Singapore morning news for September 4

Singapore morning newsSingapore court says PM’s nephew can fight order in long-running contempt case
A Singapore court on Monday ruled that the prime minister’s nephew, Li Shengwu, can contest a government move to serve him court papers in the United States, a potential setback for the prosecution’s high-profile contempt of court case against him.
— Reuters

Malaysia, Singapore agree to postpone rail project for two years -report
Malaysia has agreed with Singapore to postpone the development of a high-speed rail service by two years, Malaysian media reported, as Southeast Asia’s third-largest economy looks to review mega projects to cut its massive debt.
— Singapore Business Review

Grab eyes US$1b additional funding for 2018
The Singapore-bred ride-hailing firm has already raised its valuation to US$11b as of early August whilst on track its expansion drive across Southeast Asia, banking on the region’s internet economy which is expected to hit US$200b by 2025, according to a study by Google and Temasek.
— Singapore Business Review

SIA losing pilots to rival airlines amid global shortage
A global pilot shortage has hit Singapore Airlines (SIA), which has lost about 180 pilots in the last five to six years to rival airlines, mainly from China and the Middle East.
— The Straits Times

Resurgence seen in emerging-market inflow
China and Singapore are the top investment destinations in Asia, Mr Woods said.
— Bangkok Post

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PTC: Public transport operators may increase their fares by up to 4.3 percent
The Public Transport Council (PTC) has announced that public transport operators may increase their fares by up to 4.3 percent based on the new fare formula, which will be decided in the annual 2018 Fare Review Exercise (FRE).

Singapore manufacturing continues to expand
Electronics turned in a robust performance last month to help the overall manufacturing sector record its 24th month of expansion.
— The New Paper

HDB flat with 99-year lease is an asset: Khaw Boon Wan
Those who buy a 50-year-old Housing and Development Board (HDB) flat today can very likely expect prices to continue to appreciate over the next 10 years, Minister for Transport Khaw Boon Wan said at a dialogue with youths yesterday.
— The New Paper

Azmin: Malaysia need not compensate Singapore over postponed HSR project
Malaysia will not need to compensate Singapore for the indefinite period that the Kuala Lumpur-Singapore High-Speed Rail (HSR) project is put on hold, said Economic Affairs Minister Datuk Seri Mohamed Azmin Ali.
— The Star Online

Kelong-inspired Punggol project nets top HDB award
It was completed only last year, but Waterway View, a new housing precinct in Punggol, is meant to evoke the rustic past.
— The New Paper

Singapore’s manufacturing continues expansion
Electronics turned in a robust performance in August to help the overall manufacturing sector record its 24th month of expansion.
— The Straits Times

WA minister strengthens defence industry links with Singapore
Defence Issues Minister Paul Papalia has used his recent trip to Singapore to urge 20 leading Singaporean defence companies to consider joint projects with West Australian industry.
— Defense Connect

RSAF woman helicopter pilot sues cabby for at least $4m after wrist injury in accident
A woman helicopter pilot in the Republic of Singapore Air Force is suing a taxi driver for injury damages of at least $4 million, including loss of future earnings, after a car accident in 2014 left her unable to fly.
— The Straits Times

Bus, train fares set to rise by as much as 4.3%, with lower rates for those willing to walk more
Bus and train fares are set to rise by as much as 4.3 per cent next year, going by a new component in the review formula.
— Business Times

Growth in Asia-Pac pension fund assets outpaces global rate
Singapore’s Central Providend Fund (CPF) was ranked the world’s ninth largest – retaining its 2016 ranking – with US$269.13 billion in assets at end-2017.
— Business Times

Singapore’s largest indoor farm to give food firms and national food security a boost
Land-scarce Singapore will receive a timely boon with the republic’s largest indoor farm boosting local produce and giving food firms greater locally-sourced options.
— Food Navigator

More getting caught for smoking in public service vehicles
Nearly 500 people have been taken to task for smoking in public service vehicles such as taxis and buses since 2013.
— The Straits Times

UBS to start currency pricing, trading engine in Singapore
UBS Group AG will introduce a new electronic currency pricing and trading engine in Singapore next year in a bid to boost liquidity in Asia’s largest foreign-exchange center.
— The Edge Markets

Locus Chain Foundation Holds Inaugural Summit in Singapore
Locus Chain Foundation (Locus Chain), a next generation blockchain technology platform, held the inaugural Locus Chain World Summit on August 29, 2018 at the Fullerton Bay Hotel Singapore.
— AEC News Today PR Newswire (media release)

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Singapore’s CPF ranked 9th pension fund in the world
Singapore’s Central Provident Fund ranked 9th in the global provision fund, according to the latest global 300 research from Willis Towers Watson’s Thinking Ahead Institute.
— The Edge Singapore

Alibaba launches talent programme in Singapore with support from NTU, EDB
Alibaba Group on Monday launched the Alibaba Talent Programme in Singapore with support from Nanyang Technological University (NTU Singapore) and the Economic Development Board (EDB) under the Industrial Postgraduate Programme (IPP).
— The Edge Singapore

‘Not easy at all’: Tackling the first NS boot camp for women
The minute a bloody tear ripped across my finger, I knew I had overestimated my abilities.
— Channel NewsAsia

Some e-commerce scammers use others’ identities
Last October, then 21-year-old Mandy Teo’s lost IC was used by scammers to sell tickets to Universal Studios Singapore’s Halloween Horror Nights.
— The Straits Times

Resurgence seen in emerging-market inflow
China and Singapore are the top investment destinations in Asia, Mr Woods said.
— Bangkok Post

S’pore, KL still in talks to defer high-speed rail project: MOT
Malaysia’s Economic Affairs Minister Mohamed Azmin Ali said yesterday that an agreement had been reached to postpone the Kuala Lumpur-Singapore High Speed Rail (HSR) project without compensation, and that the project would resume once the deferral ends.
— The New Paper

Macau and Singapore offer lessons on fighting gambling addiction
As Japan prepares to open its first casino, possibly in the mid-2020s, concerns about gambling addiction are looming larger.
— Nikkei Asian Review (paywall)


Feature photo TheUjulala


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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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