Singapore morning news for April 29

Singapore morning news for April 29

Singapore morning newsSingapore’s Economy Will Slow in 2019, Says Central Bank
Singapore’s economy will slow in 2019, reflecting a weakening in key trading partners and a further cooling of the electronics sector, the central bank said.
— Bloomberg

Singapore closer to becoming Asia’s debt restructuring hub
SINGAPORE is a step closer to fulfilling its aim to become an international debt restructuring hub, akin to London or New York, after a landmark ruling by an English court to recognise the city-state’s new moratorium law for insolvency and corporate restructuring.
— The Business Times

Belt and Road initiative crucial in strengthening regional and multilateral cooperation: PM Lee
Amid a global pushback against globalisation and growing distrust of public institutions and governments, China’s Belt and Road initiative (BRI) can play an important role in strengthening regional and multilateral cooperation, Prime Minister Lee Hsien Loong said.
— Today Online

Singapore’s online falsehoods bill will deepen a culture of self-censorship
Singapore’s proposed legislation against online falsehoods is probably the world’s boldest and most elaborate attempt to regulate disinformation since “fake news” muscled its way to the top of the global agenda two-plus years ago.
— new mandala

Inside Singapore CPF’s digital vision
The Central Provident Fund (CPF) manages the retirement savings of all Singaporeans and permanent residents, and is also used for investments, healthcare, and housing needs.
— GovInsider

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PM sets out why online falsehoods need tackling
Prime Minister Lee Hsien Loong set out why online falsehoods have to be tackled and responded to concerns that proposed laws to counter fake news could curb free speech, in an interview that was broadcast on Channel 8 last night.
— Straits Times (annoying popups)

Singapore’s bet on tech startups gains ground
Singapore’s effort to create an ecosystem to support startups is gaining ground, with the city-state now home to more than 150 venture capital funds.
— Bangkok Post

Singapore to invest in jetty and warehouse project
Singapore will invest 290.124 million US dollars in the construction of jetty and container warehouse under a BOT (Build-Operate-Transfer) system, according to Myanmar Investment Commission (MIC).
— Eleven Myanmar

Enterprise Singapore, MAS to match startups with global investors
STARTUPS can expect more matchmaking opportunities with global investors as Enterprise Singapore works with the Monetary Authority of Singapore (MAS) to catalyse funding.
— The Business Times

S’pore start-ups clinch $14b in 2018 financing
Start-ups in Singapore closed 353 financing deals worth US$10.5 billion (S$14.3 billion) last year, said Enterprise Singapore.
— Straits Times (annoying popups)

S’pore start-up launching S$200,000 single-seater flying vehicle that can reach 100km/h
Taking drones and aviation to new heights.
— Mothership

Enterprise Singapore, MAS to match start-ups with global investors
START-UPS can expect more matchmaking opportunities with global investors as Enterprise Singapore works with the Monetary Authority of Singapore (MAS) to catalyse funding.
— The Business Times

Singapore, Malaysia could explore ferry services to ease congestion at Causeway
Since the suspension of the high-speed rail project by the ruling Pakatan Harapan (PH) coalition government in Malaysia, there have been suggestions for an alternative “third link” project or more bridges to connect both countries.
— Today Online

Digital push, construction to prop up growth this year: MAS
Singapore’s economic outlook continues to be clouded by global uncertainty for the next few quarters, and it will have to turn to domestic drivers for growth this year, said the Monetary Authority of Singapore (MAS) yesterday.
— Straits Times (annoying popups)

Vital health and safety tips to steer clear of food-related illnesses
Singapore has seen a disturbing rise in food poisoning cases due to serious lapses in health and safety practices. Gastroenteritis, caused by bacteria, parasites or viruses present in food or water, causes nausea, vomiting, severe stomach cramps, diarrhoea and fever.
— The Independent

Heng Swee Keat to support PM Lee in longer term policy review as DPM
Finance Minister Heng Swee Keat said he will support Prime Minister Lee Hsien Loong in reviewing Singapore’s longer term policy measures to take the country forward in the next decade, as he prepares to take on the role of Deputy Prime Minister from May 1.
— CNA  (very annoying popups)

Jewel Changi Airport leaks again, “waterfall now reaches the mall”
Is “JeWell” a more fitting name for Jewel Changi Airport after a second incident of water leakage in a month? It seems that the Rain Vortex is so popular that other pipes want to follow suit.
— The Independent

Singapore accelerates patent applications for AI-related inventions
Inventors of artificial intelligence (AI)-related innovations can now get a patent in Singapore far quicker than before, with the Intellectual Property Office of Singapore (IPOS) claiming that the process is now “the fastest in the world”.
— CNA (very annoying popups)

2019 GDP growth to ease to ‘slightly above midpoint’ of 1.3-3.5% forecast: MAS
MAS expects GDP growth to come in slightly above the mid-point of 1.3-3.5% forecast range in 2019, as growth momentum of the global economy has moderated at the turn of the year amid sluggish trade.
— The Edge Singapore

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After Hyflux’s fall, Singapore debt buyers are scrutinising other firms
THE collapse of Singapore’s water treatment firm Hyflux has increased investor scrutiny over other debt-laden companies that have sold bonds in the local currency.
— Business Times

Jobless rate for Singaporeans in Q1 grows slightly to 3.2%: MOM
The citizen unemployment rate in Singapore rose slightly in the first quarter of this year, according to preliminary figures released by the Ministry of Manpower (MOM) on Friday (April 26).
— Today Online

PM Lee attends second “Belt and Road” Forum after conspicuous absence at inaugural event
Prime Minister Lee Hsien Loong is in attendance at the second “Belt and Road” Forum that is taking place between 25 and 27 Apr in Beijing, China.
— The Independent

Analysts turning cautious on CacheLog Trust with liquidity-challenged CWT as tenant
Analysts are mostly remaining neutral on Cache Logistics Trust (CacheLog Trust) following its results announcement , but they will be keeping a watchful eye on the trust should CWT Limited default on its rent.
— The Edge Singapore

The Big Read: Singapore’s voyeurism problem – what’s wrong with men, or the world?
Every time freelance writer Clare Lee, 27, uses a changing room when trying on clothes in fashion outlets big and small, she will take a few minutes to inspect every nook and cranny in her cubicle for hidden cameras before feeling safe enough to undress herself.
— Today Online

Advances in Singapore’s Zika and dengue fight
Singapore scientists have succeeded in mapping out the structures of the dengue and Zika virus strains – a crucial milestone in the development of treatments for the potentially deadly diseases.
— Straits Times (annoying popups)

Ferris Wheel in Singapore Club Marks Tao’s ‘Most Dramatic’ Foray
Tao Group, the U.S.-based nightlife and restaurant company, this month opened Singapore’s biggest night club — with an indoor ferris wheel and three-story slide — as its partner Las Vegas Sands Corp.
— Bloomberg

Fake news must be curbed before it affects society: PM Lee
There is no society in which free speech is absolute or uncontrolled, he said, noting that it exists within appropriate boundaries.
— Straits Times (annoying popups)

HDB resale transactions down 14.2% in Q1 as prices edge lower
Singapore’s resale public housing market remained in the doldrums in the first quarter of this year, with prices slipping further and the number of homes exchanging hands down 14.2 per cent.
— Today Online

Ministry of Design completes futuristic sports store in Singapore Airport
Architecture and interiors firm Ministry of Design has completed an immersive ultra-performance Durasport store within Singapore’s recently completed Jewel Changi Airport.
— Dezeen

Raffles bicentennial anniversary ruffles Singapore
Along the banks of the Singapore River stands a gleaming white statue of an Englishmen in 19th century dress, surveying his surroundings with folded arms and a self-satisfied air. Sir Stamford Raffles, a British colonial official, is said to have landed two centuries ago at the very spot where his pedestal now rests.
— Asia Times

Why Singapore’s Financial Sector is at High Risk of Losing Jobs to Automation
We are well aware of the potential consequences of artificial intelligence (AI) and automation. With these two technologies getting bigger, millions of jobs are likely to be displaced in the coming years.
— Enterpreneur

Belt and Road can go beyond physical infrastructure, take transparent approach in next phase: PM Lee
China’s Belt and Road Initiative (BRI) can move beyond the development of physical infrastructure and traditional bilateral partnerships, while taking a transparent and market-driven approach in its next phase.
— CNA (very annoying popups)

Singapore becomes fastest in the world to grant patents for AI inventions
INNOVATORS applying for artificial intelligence-related (AI) patents in Singapore can expect to have their applications granted within just six months, instead of a typical two years or more.
— The Business Times

Crypto not a threat to traditional monetary system, say experts
These were some of the conclusions from a workshop involving academic researchers, central bankers, and financial industry practitioners, as reported in a special feature in Friday’s Monetary Authority of Singapore (MAS) macroeconomic review.
— The Business Times

Inflation in check, but higher costs expected for essential services
Inflationary pressures remain in check, although higher costs are expected for essential services in areas such as education, healthcare and domestic services, the Monetary Authority of Singapore (MAS) said yesterday.
— Straits Times (annoying popups)

PM Lee draws flak after confirming that POFMA may be used against purveyors of “fake news” during election
Prime Minister Lee Hsien Loong’s recent comments indicating that the Protection from Online Falsehoods and Manipulation Act (POFMA) may be used against those who “manipulate opinions and influence elections” has drawn flak on social media.
— The Independent

Singapore accountancy and finance sector faces skills gap: Hays
The accountancy and finance sector is facing a skills gap despite the large supply of professionals available, according to global recruitment agency Hays yesterday.
— Straits Times (annoying popups)

Best affordable tailors in Singapore: Where to go to dress sharp
Finding a tailor in Singapore is easy. A quick Google search of “tailors in Singapore” will net you over 10 full pages of tailors in our small dot of a country.
— Asia One

In Singapore’s online news landscape, what is the alternative?
For a while, it seemed that the online news scene was set to grow and flourish in Singapore.
— CNA (very annoying popups)

To counter the lack of land, Singapore should go “upward, downward, seaward” says Lawrence Wong
National Development Minister Lawrence Wong outlined how Singapore plans to fit future generations by “going upward, downward and seaward.”
— The Independent

Singapore’s GLP plans US$3 billion IPO for its US warehouses
Singapore-based GLP is planning an initial public offering (IPO) for its US operations that could raise about US$3 billion ($4.09 billion).
— The Edge Singapore

Singapore’s manufacturing output down by 4.8% in March
Singapore’s manufacturing output declined in March after a slight uptick the month before, data from the Singapore Economic Development Board (EDB) showed on Friday (Apr 26).
— CNA (very annoying popups)

Second peeping Tom case in four days reported at NTU
A police report has been made against a 22-year-old male suspect on April 18 for filming a fellow female student showering at a hall of residence in Nanyang Technological University (NTU).
— Asia One

DPM Tharman is Prime Minister of S’pore until Apr. 29, 2019. He won’t have the chance to be after this.
A final chance for us to experience what it’s like.
— Mothership

Commentary: Will Jewel Changi Airport sound the death knell for Orchard Road?
As Singaporeans and tourists flock to the futuristic shopping mall at the airport, the country’s original shopping belt might just be losing even more of its lustre, says Karen Tee.
— CNA (very annoying popups)

Alleged proxy of NUS voyeur publishes public statement of apology
An Instagram user claiming to be a direct line of communication to Nicholas Lim Jun Kai seems to have published a public statement of apology on behalf of Lim.
— The Independent

Fraser Centrepoint Trust kept at ‘buy’ by DBS, Maybank and OCBC
Maybank Kim Eng, DBS Group Research and OCBC Investment Research — are maintaining Fraser Centrepoint Trust (FCT) at “buy” with target prices of $2.60, $2.60 and $2.61 respectively.
— The Edge Singapore

NUS to work with students to tighten security
The National University of Singapore (NUS) will work with student representatives to tighten security in the bathrooms of all halls of residence of students.
— Straits Times (annoying popups)

Economists often get their forecasts wrong. Here’s why.
Economists are paid to predict how the economy will perform — whether it will grow or shrink, and by how much.
— Today Online

Singapore start-up unveils one-seater flying vehicle
A Singapore firm has unveiled a one-seater flying vehicle that it hopes could be used for door-to-door transportation in urban areas when it is launched in the United States.
— The Star Online

Private home rents recover with 1% rise in Q1; vacancy rate dips to 6.3%
Rents of private residential properties rose 1 per cent in the first quarter of this year from the previous three months, reversing a 1 per cent fall in the previous quarter, according to data from the Urban Redevelopment Authority (URA) released yesterday morning.
— Straits Times (annoying popups)

2nd Jewel Changi Airport water leak caused by sprinkler
Water is wealth. It can also lead to moisture damage.
— Mothership


Feature photo Singapore International Jazz Festival
This week’s Singapore morning news feature photo acknowledges International Jazz Day, 30 April


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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Piseth Pov graduated with a Bachelor’s degree in Economics Science from the Royal University of Law and Economics, Phnom Penh in 2017, and a Bachelor’s degree in English Communications from Western University, Phnom Penh, the same year.

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