Singapore morning news for January 8

Blockchain incubator programme launches in Singapore
A crypto-currency wallet that works with smart contracts, a digital marketplace to trade renewable energy certificates and an online protocol that uses biometrics to authenticate identities are some of the projects selected for an incubator programme launched yesterday.
— Straits Times

“Seletar cannot use Malaysia’s airspace”–M’sian Foreign Minister Datuk Saifuddin Abdullah
Malaysia is staying firm in its stand not to allow Singapore to use its airspace in Pasir Gudang, Johor. Two days before a scheduled meeting between Malaysia’s Foreign Minister Datuk Saifuddin Abdullah and his counterpart in Singapore, Dr. Vivian Balakrishnan, Saifuddin reiterated his country’s stand. Malaysia’s English-language newspaper, The New Straits Times, reported on January […]
— The Independent sg

Manufacturing remains integral amid changes in economy: EDB
For all the increasingly sophisticated directions the economy is taking, manufacturing remains an integral part of the mix, according to the managing director of the Economic Development Board (EDB).
— Straits Times

Singapore banks’ earnings turnaround hit by steep funding costs
Although a rising interest rate environment bodes well for banks in Singapore, the spectre of rising funding costs is dimming the expectations of fatter margins, especially for local banks who are trailing behind their foreign counterparts in the war for fixed deposits (FD).
— Singapore Business Review

Tesla Founder Elon Musk says Singapore has been unwelcome following earlier incident of LTA levying a surcharge of a Model S
Telsa founder & CEO Elon Musk tweeted that the Singapore government has been unwelcome to Tesla Inc. in a response to a tweet asking why his car company isn’t in Singapore. Govt has been unwelcome — Elon Musk (@elonmusk) January 3, 2019 Musk is of course alluding to his previous assertion that the government doesn’t …
— The Online Citizen

Turning food waste into something useful
Imagine food waste being turned into biodegradable food packaging or even returned to the food chain to enhance a product’s nutritional value.
— Straits Times

F&N bankrolls new food science lab in NTU tie-up
AS Singapore’s public health “war on diabetes” rages on, mainboard-listed drinks maker Fraser and Neave (F&N) has uncorked plans to fund more studies on healthier libations.
— The Business Times

New scheme to give air transport sector a lift
More programmes will be made available to help employees in the air transport sector improve their capabilities.
— Straits Times

Singapore Pools pays out $9,731,377 to lottery winner in the new year
State-owned lottery subsidiary company, Singapore Pools (Private) Limited, paid out a hefty $9,731,377 to one lucky lottery winner in the new year. Singapore Pools is the only operator that is legally allowed to run lotteries in Singapore. Having been incorporated in 1968 to curb illegal gambling, Singapore Pools is a wholly owned subsidiary of the Tote Board, […]
— The Independent sg

Government to take over administration of ElderShield from 2021
The Government will take over the administration of ElderShield from private insurers in 2021, a move that will allow policyholders a smoother upgrade to CareShield Life, a new national disability insurance scheme scheduled to be introduced next year.
— Channel NewsAsia

Have we got the good life that we have been promised which civil rights were forsaken for? If not, are we getting it back?
The rumour mill has been churning for awhile now as speculation abounds about when the next general elections in Singapore will be. There is talk that the elections will likely be in 2019. Prime Minister Lee Hsien Loong (LHL) has seemingly added fodder to this possibility when he suggested earlier last year that the general …
— The Online Citizen

AI and Fintech – 2 Tech Trends To Invest in 2019
Fintech and AI are two technology revolutions are taking the world by storm. Here are some companies that give you exposure to these fast-growing trends.
— Motley Fool sg

Singapore public can resolve motor accidents disputes online from year-end
AN online dispute resolution platform for motor accident claims is expected to be launched in phases at the end of this year, Chief Justice Sundaresh Menon announced at the opening of the legal year on Monday.
— The Business Times

The 30 Best Shares In Singapore For 2019
The 30 best shares in Singapore’s stock market for 2019, according to the Magic Formula.
— Motley Fool sg

Earn and Learn scheme to be launched for air transport sector
MANPOWER constraints are expected across all sectors due to Singapore’s demographic changes and the keen competition for talent, said Senior Minister of State for Trade and Industry and Education Chee Hong Tat on Monday.
— The Business Times

Asia to be focus of several mega healthcare deals in 2019
ASIA will be the centre of several mega healthcare deals in 2019, including Japan’s largest corporate takeover, as global healthcare deals are forecast to rise 7 per cent this year.
— The Business Times

Tokyo Century boosts total investment in Grab to $238m
Japanese financial services company Tokyo Century has made an additional undisclosed investment in Grab, as well as a capital injection in its car rental arm Grab Rentals, taking its cumulative investment in the ride-hailing platform to US$175 million (S$238 million).
— Straits Times

Licensing breaches: 6 leisure spots under probe
Six public entertainment outlets were found to have contravened licensing conditions during a nine-day crime prevention and enforcement operation conducted by the Clementi Police Division between Dec 17 and 25 last year.
— Straits Times

Liquidation of Coastal Oil Singapore affects at least 10 banks in SG and HK
The Standard Hong Kong newspaper reported yesterday (3 Jan) that banks in Singapore and Hong Kong are likely to suffer huge losses linked to the closure of Singapore petroleum company Coastal Oil Singapore Pte Ltd. Records from ACRA show that Coastal Oil Singapore Pte Ltd entered liquidation as of Dec 13 last year. It entered …
— The Online Citizen

Revised fees at National Eye Centre from March 1
The Singapore National Eye Centre (SNEC) will revise its fees on March 1 to ensure they remain affordable, the centre and the Ministry of Health (MOH) said in letters to The Straits Times Forum Page yesterday.
— Straits Times

Money mule jailed 41/2 years
A money mule working for an international syndicate that is behind scams involving police impersonation travelled to Singapore 14 times in 2017 to collect and transfer criminal proceeds totalling almost $760,000.
— Straits Times

Design Orchard to debut with 61 homegrown brands
Shoppers will soon be able to get their retail fix from 61 up-and-coming homegrown labels, when local design showcase and incubator Design Orchard opens on Jan 25.
— Channel NewsAsia

Courts, AGC boosting efforts to tackle rising workload and tap IT
The judiciary and the Attorney-General’s Chambers (AGC) are ramping up efforts to deal with an increasing workload while tapping technology to increase efficiency and devise lower-cost solutions for the public.
— Straits Times

Singapore stocks rise on upbeat US news
There were no Monday blues for local investors yesterday, with stocks starting the week in sprightly fashion, thanks to upbeat US wage data and dovish comments from the Federal Reserve over the weekend.
— Straits Times

Platinium Dogs Club operator arrested, assisting with investigations
The operator of Platinium Dogs club has been arrested and is assisting with investigations on alleged animal welfare-related offences, said Senior Parliamentary Secretary for National Development Sun Xueling on Monday (Dec 7).
— Channel NewsAsia

New Earn and Learn programme for air transport sector
Skillsfuture Singapore will roll out a new Earn and Learn Programme for the air transport sector in collaboration with SIM Global Education and gateway services provider SATS.
— Channel NewsAsia

Forum-Asia calls for conviction of Jolovan Wham to be quashed and for Singapore to respect the right to freedom of expression
The Asian Forum for Human Rights and Development (FORUM-ASIA) has issued a statement to condemn the conviction of Singaporean human rights defender Jolovan Wham for violating the 2009 Public Order Act. The regional human rights organisation states that the case against Wham highlights the Singaporean Government’s tightening grip on civil society and calls on the …
— The Online Citizen

Resurgence of the Lee family feud gains international traction
International news publications have been weighing in on the resurgence of the Lee family feud that burst into the public domain once again in the new year. Yesterday evening, founding Prime Minister Lee Kuan Yew’s daughter revealed that the Attorney-General’s Chambers (AGC) have filed a 500-page long complaint against her younger brother Lee Hsien Yang’s […]
— The Independent sg

PUB removes 140 stingrays from Lower Peirce Reservoir, reopens fishing grounds
The fishing grounds at Lower Peirce Reservoir have been reopened after about 140 venomous stingrays were removed from the reservoir, national water agency PUB said on Monday (Jan 7).
— Channel NewsAsia

SBS Transit CEO who resigned over “personal indiscretion” earned $1.2 million last year
Netizens online have pointed out that SBS Transit’s outgoing CEO and executive director Gan Juay Kiat, who resigned from his top position in two weeks ago over “personal indiscretion”, earned a hefty $1.2 million in 2017.
— The Independent sg

3 Things You Should Know About Singapore’s Stock Market Today
CapitaLand Limited (SGX: C31), which rose 2.6% today, is acquiring a prime office building in Shanghai, China.
— Motley Fool sg

AG Wong: Ties between Singapore-Malaysia “put to the test” last year
In a speech at the Opening of the Legal Year 2019 on Monday, January 7, Singapore’s Attorney-General Lucien Wong emphasized the challenges that Singapore faced last year, specifically with its closest neighbor, Malaysia, due to the political changes in that country.
— The Independent sg

Why is the Lee family burdening Singaporeans with their family feud?
The Year of the Pig will likely herald more turbulent times for the Lee family. With the two children of late Lee Kuan Yew, Lee Hsien Yang and Lee Wei Ling very much back in the fray, with the upcoming contempt of court proceedings against LKY’s blue-eyed grandson, Li Shengwu and the latest revelation that …
— The Online Citizen

DBS, UOB or OCBC – Which Has The Best Financial Track Record? Round 2
Comparison between the track records of DBS, OCBC and UOB to determine the best performer.
— Motley Fool sg

What Investors Should Know About Share Buybacks by Singapore-Listed Companies in 2018
In 2018, 100 companies spent S$1.53 billion in share buybacks.
— Motley Fool sg

Proposal for Singapore F-15 jet training in NZ scrapped
A proposal for Singapore’s F-15 fighter jet training to be conducted in New Zealand on a long-term basis will not be taking off, said the Ministry of Defence (Mindef) yesterday.
— Straits Times

Teen ‘earns’ $2.7m profit for insurer as CEO for a day
Fifteen-year-old Jaburooth Rakshana made a profit of $2.7 million yesterday, by underwriting several cases that insured clients from potential risks, such as piracy at sea and accidents in shopping malls, among other possible hazards.
— Straits Times

CJ to hold dialogues to tap collective wisdom for profession’s future
CHIEF Justice Sundaresh Menon will be starting a new round of dialogues to find the best course of action for the future of the legal profession in an attempt to counter the triple forces of globalisation, technology and growing commercialisation of the law, which are dramatically altering the legal landscape.
— The Business Times

S’pore supplied extra treated water to Johor residents from Jan. 2 – 4, 2019 due to pollution
A friend in need is a friend indeed.
— Mothership

Critically-endangered Sunda pangolin found dead along Upper Thomson Road
Another roadkill.
— Mothership

Feature photo Ray in Manila

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 January 8 added by John Le Fevre on January 8, 2019
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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.