Singapore morning news for April 9, 2019

Singapore and Cambodia to strengthen ties in Fintech Innovation
The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) signed a Memorandum of Understanding (MOU) to strengthen cooperation in FinTech innovation between both countries in Chiang Rai, Thailand, yesterday – 4 April 2019.
— Open GovAsia

PM Lee to meet Malaysian PM Mahathir for Leaders’ Retreat today
Prime Minister Lee Hsien Loong will meet his Malaysian counterpart Mahathir Mohamad in Malaysia today for the ninth Singapore-Malaysia Leaders’ Retreat. This is the first Leaders’ Retreat with the Pakatan Harapan government, which came to power last May.
— Straits Times (annoying popups)

Seizure of 14 Tons of Pangolin Scales in Singapore Sets a Dismal Record
Singapore has discovered more than 14 tons of pangolin scales in what conservation specialists called the largest such seizure of a single shipment worldwide, highlighting the stubbornness of the illegal trade of the scaly anteater.
— New York Times

Singapore’s ‘fake news’ laws upset tech giants
Tech giants have reacted with horror after Singapore proposed laws against “fake news” allowing authorities to order the removal of content and impose hefty fines, in what critics say is an assault on free speech.
— The Asean Post

Singapore: Digitization of a Financial Powerhouse
Financial technology, or Fintech, has experienced rapid growth in recent years.
— Asean Briefing

Singapore sees solid Asean growth despite risks
Singapore and other Southeast Asian economies are poised to remain resilient in the face of increasingly dour signs on the global economy, Singapore Finance Minister Heng Swee Keat said.
— Bangkok Post

OUE Commercial to buy OUE Hospitality for S$1.37b
OUE Commercial Real Estate Investment Trust said on Monday (Apr 8) it would buy OUE Hospitality Trust in a cash-and-stock deal worth S$1.37 billion (US$1.01 billion), creating one of Singapore’s largest REITs.
— CNA (very annoying popups)

Hassle-free air travel
Although everyone in Southeast Asia can fly these days due to the proliferation of low-cost airlines, the experience is not necessarily pleasant with long queues and constantly having to present travel documents to different parties.
— The Asean Post

The revolution need not be automated
Artificial intelligence is transforming every aspect of our lives, not least the economy. As a general-purpose technology, AI’s applications are potentially endless. While it can be used to automate tasks previously performed by people, it can also make human labour more productive, thereby increasing labour demand.
— The Edge Singapore

MAS says it has not uncovered any impropriety by DBS
The Monetary Authority of Singapore (MAS) said yesterday that its supervisory reviews to date have not uncovered any impropriety on the part of DBS in performing its roles as both issue manager and distributor of Hyflux perpetual securities in 2016.
— Straits Times (annoying popups)

Singapore’s Draft Master Plan 2019 for an Inclusive, Sustainable and Resilient City
The Urban Redevelopment Authority (URA) has unveiled key proposals under the Draft Master Plan 2019 (DMP19) that focus on planning sustainable, green, inclusive neighbourhoods, rejuvenating familiar places and creating capacity for the future.
— Open GovAsia

5 North-South Line stations to close during Vesak Day weekend for Canberra station construction
Five MRT stations along the North-South Line (NSL) will be closed for three days in May in a staggered manner to facilitate the construction of the new Canberra station, the Land Transport Authority (LTA) said on Monday (Apr 8) in a news release.
— CNA (very annoying popups)

Transparent and public Commission of Inquiry should be formed to investigate DBS’ sale of securities by Hyflux to prevent retail investors from getting hurt so badly again
by Khush Chopra The Monetary Authority of Singapore (MAS) has declared that there was no form of ‘impropriety’ found in DBS’ arrangement of the sale of perpetual securities by Hyflux in 2016.
— The Online Citizen

Singapore, KL to work out six-month rail link suspension
Singapore and Malaysia are working towards a supplementary agreement to suspend a cross-border rail link. The civil aviation authorities of both countries are also developing GPS-based instrument approach procedures for Seletar Airport.
— Straits Times (annoying popups)

Singapore govt sells 6.8 crore shares of DLF for Rs 1,298 crore
Singapore government on Monday sold 6.8 crore shares of realty giant DLF for Rs 1,298 crore through open market transaction, with its stock price tumbling sharply by over 8 per cent.
— Economics Times

Singapore Myanmar Investco’s sale of TPR Myanmar crumbles over unmet terms
Singapore Myanmar Invesco’s (SMI) intended sale of its telecommunication infrastructure subsidiary, TPR Myanmar, to Tiger Infrastructure for US$10.8 million ($14.4 million) has fallen through after the latter failed to fulfil terms of the sale share agreement (SSA) .
— The Edge Singapore

What can Singapore do to be the global leader in autonomous vehicles?
IF there is a time for autonomous vehicles (AVs) to take off, it is now.
— The Business Times

Challenges require S’pore to rethink maritime strategy: Chan
As climate change melts the Arctic ice and opens alternative routes for cargo ships plying between Asia and Europe, trade could be diverted from the Malacca Strait and the Singapore Strait, posing a challenge to Singapore’s maritime status.
— Straits Times (annoying popups)

Federal wins US$6 mil Vietnam contract from Xtreme Subsea
Federal International (2000), the service provider and procurement specialist in the oil and gas industry, has won a US$6 million ($8.1 million) contract with Malaysia-based Xtreme Subsea Solutions and its subsidiary, Xtreme Solutions (Labuan) Incorporated.
— The Edge Singapore

Singapore: Growth weakness persisting – TDS
According to Mitul Kotecha, senior emerging markets strategist at TD Securities, Singapore’s economy appears to have lost more momentum over recent months as reflected in hard data such as trade and industrial production.
— FX Street

Firefighter injured in fatal Dhaka blaze dies in Singapore hospital: Reports
A Bangladeshi firefighter who was injured trying to rescue people trapped in a burning office tower in Dhaka last month died while undergoing treatment at the Singapore General Hospital, the Dhaka Tribune reported on Monday (Apr 8).
— CNA (very annoying popups)

Singapore’s OUE Commercial to buy OUE Hospitality for $1 billion
OUE Commercial Real Estate Investment Trust said on Monday it would buy OUE Hospitality Trust in a cash-and-stock deal worth S$1.37 billion ($1.01 billion), creating one of Singapore’s largest REITs.
— Reuters

PM Lee to attend leaders’ retreat hosted by Malaysia PM Mahathir
Prime Minister Lee Hsien Loong kicks off a two-day visit to Putrajaya on Monday (Apr 8) to attend a Leaders’ Retreat hosted by Prime Minister Mahathir Mohamad.
— CNA (very annoying popups)

CPO planters kept at ‘market weight’ on stronger biodiesel demand from Indonesia, Malaysia: UOB
Indonesia and Malaysia plans to boost biodiesel mandates for domestic consumption to blunt the impact from unfavourable trade barriers on palm oil.
— The Edge Singapore

S$3,000 fine each for Orchard Towers partygoers who intimidated anti-smoking enforcement officers
Two friends who decided to take a smoke break when partying at Orchard Towers were each fined S$3,000 on Monday (April 8) after they got into a confrontation with anti-smoking enforcement officers and intimidated them.
— Today Online

Singapore to have 7 long weekends in 2020
The Ministry of Manpower (MOM) on Monday (Apr 8) released the list of Singapore’s public holidays for next year.
— CNA (very annoying popups)

From Swiss-standard to being a city of follies
Is Singapore becoming the new “Moulin Rouge” of Asia? by Joseph Nathan When PM-designated 4G political leaders like Heng Swee Keat and Chan Chun Sing advocated for the push towards the 10-million populations.
— The Online Citizen

Singapore equity proceeds skyrocket 145.8% to US$2.3b in Q1
Singaporean equity and equity-linked (ECM) proceeds in Q1 skyrocketed 145.8% YoY to US$2.3b to mark the strongest start to the year in terms of proceeds since 2013, according to data from Refinitiv.
— Singapore Business Review

President visits Jewel as it gears up for opening
President Halimah Yacob, accompanied by Changi Airport Group (CAG) chairman Liew Mun Leong (in white shirt), visited Jewel Changi Airport yesterday morning, ahead of its official opening next week.
— Straits Times (annoying popups)

DBS complied with rules as issue manager of Hyflux perps in 2016: MAS
The Monetary Authority of Singapore says that its supervisory reviews to date have not uncovered any impropriety on the part of DBS when performing its roles as both issue manager and distributor of Hyflux perpetual securities in 2016.
— The Edge Singapore

Woodlands Regional Library temporarily closed due to water leakage
Woodlands Regional Library had to be closed temporarily after water leaked from a burst pipe, the National Library Board (NLB) said on Monday afternoon (Apr 8).
— CNA (very annoying popups)

Mom and Pop Stores in Singapore’s Little India Go Online
Singapore is a compact island-state. Including the 62 surrounding islands – yes, it’s not just one island – it is just 722 square kilometres in area.
— Business Standard

Khaw Boon Wan: Singapore seeks win-win solutions in airspace matters
April 09, 2019 5:00 AMSingapore adopts a prosper thy neighbour approach in its relations with Malaysia and seeks win-win solutions, Transport Minister Khaw Boon Wan said on Monday.
— Straits Times (annoying popups)

SoftBank-backed Grab targets US$2 billion more in funding this year in big business push
Grab aims to raise another US$2 billion this year as it ramps up expansion, its chief executive said, just weeks after announcing over US$4.5 billion of funding in what has become Southeast Asia’s largest round of private financing.
— CNA (very annoying popups)

Migrant workers go hungry in rich Singapore due to subpar catering services
Singapore is well known the world over for its meticulous planning and distinct skyline – the Marina Bay Sands, Gardens by Bay and Singapore Flyers are instantly identifiable as belonging to this small economic powerhouse of Southeast Asia.
— The Online Citizen

S-Reits tipped for further gains as rate hike fears subside
AFTER a good run this year, S-Reits are likely to remain in vogue amid a more dovish Federal Reserve and room for further growth.
— The Business Times

Feature photo Thales Transport

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 April 9 added by Piseth Pov on April 9, 2019
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Piseth Pov

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.