Singapore morning news for March 1

Singapore morning news for March 1
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Singapore morning news

SIA flights to Europe operating as scheduled, rerouted to avoid Pakistan airspace
Singapore Airlines (SIA) flights to Europe are operating as scheduled, although they have been rerouted to avoid Pakistan’s shuttered airspace, said the airline on Thursday (Feb 28).
— Channel NewsAsia (very annoying popups)

Singapore remains Asean’s most connected trade hub, but improvements seen elsewhere too
Although Singapore remains the undisputed business hub of Asean a recently released international trade connectivity survey also found rapid improvements in other Asean member states.
— AEC News Today

Singapore comes in top for order and security in international rule of law index
The Republic continues to rank world No. 1 in the area of order and security according to the 2019 Rule of Law Index compiled by the World Justice Project (WJP), an independent advocacy group based in the United States.
— Straits Times (annoying popups)

Singapore’s gender wage gap widens in 2018
The wage gap between men and women in Singapore increased in 2018 to the widest in a decade, an analysis of the Manpower Ministry’s labour statistics has shown.
— Today Online

Singapore fintech investments more than double to US$365m in 2018 amid global surge: Accenture
FINTECH investments in Singapore more than doubled to hit US$365 million in 2018, up from US$180 million in the previous year, placing it among the top five fintech markets by funds raised in the Asia Pacific last year, according to an analysis by Accenture.
— The Business Times

Heng Swee Keat explains how Budget 2019 reflects the ‘Singapore Way’
According to Heng, this style of planning informed everything ranging from the GST hike to borrowing.
— Mothership

Yahoo Poll: Should Singapore do away with academic streaming in secondary schools?
Singapore’s Ministry of Education should consider eliminating streaming in secondary schools in order to reduce social stratification among students, said Nee Soon GRC Member of Parliament Louis Ng on Wednesday (27 February).
— Yahoo News Singapore

Airport specialists meet in Singapore
Thailand will develop U-Tapao International Airport on the eastern seaboard, 30 km south of Pattaya, as a prime aerospace hub in the ASEAN region according to U-Tapao Rayong-Pattaya International Airport deputy director Rear Admiral Krid Pimmanon.
— TTR Weekly

Stresses continue at Ezion, Alpha Energy and Charisma; salvation may lie in Mustang Field
Ezion Holdings was one of the darlings of the offshore and marine boom. During its heyday (2012 to 2014), it took stakes in three small companies
— The Edge Singapore

Singapore’s journey from ‘little red dot’ to gateway to Southeast Asia
It is not only the wide range of trade agreements to which the tiny island state is signed up. Inhabitants of the “little red dot” – an initially disparaging term that has been adopted with pride by Singaporeans – can also point to laurels awarded by an array of international institutions.
— The National

50 organisations and individuals feted at bizSAFE Convention and Awards ceremony
Free annual health checks, financial incentives for safety innovations and active risk assessment training for all staff are some of the measures that local company Galmon have put in place to ensure workplace safety in recent years.
— Straits Times (annoying popups)

Heng says to cut foreign worker quota but Zaqy says healthcare sector will not be affected
In the Budget debate last Mon (18 Feb), Finance Minister Heng Swee Keat promised that foreign worker quota will be cut further to support our locals.
— The Online Citizen

Local family businesses ready to embrace next-gen technologies, but less confident in talent: SAP
Local family businesses are most confident in utilising data analytics to drive their business success, as they prepare to put aside their traditional business models to meet future challenges with next-generation technologies.
— The Edge Singapore

Everyone has benefited from Budgets, and people are at centre of Govt’s plans: Heng Swee Keat
Singaporeans have benefited from the Budget in previous years, even if there was nothing for them this time around, said Finance Minister Heng Swee Keat as he wrapped up more than two days of debate on Budget 2019.
— Today Online

In brief: US security startup opens regional office in Singapore
HackerOne, a US-based hacker-powered security platform, announced its expansion into Asia Pacific with the opening of its regional headquarters in Singapore. Founded in 2012, the platform helps companies find and resolve critical security vulnerabilities by leveraging its global community of over 300,000 hackers.
— Tech In Asia

This video of Singapore’s breathtaking nightscape will make you go ‘wow’
Think Singapore’s a sleepy city once the sun sets? Think again.
— Asia One

SIAS submits alternative proposal urging Hyflux to give small investors ‘a little more’
Given how Hyflux’s debt restructuring plan offers “paltry and inequitable” returns to its small stakeholders, the Securities Investors Association Singapore (SIAS) said on Thursday (Feb 28) that it has submitted an alternative proposal seeking a fairer deal.
— Channel NewsAsia (very annoying popups)

Explainer: Why borrow when Govt has a Budget surplus?
The Government’s recent decision to fund large-scale infrastructure projects through borrowing is a “deviation” from the past, though not entirely new, analysts said.
— Today Online

Singapore tops global ranking for order and security
Singapore continues to rank world No. 1 in the area of order and security, according to the 2019 Rule of Law Index compiled by the World Justice Project (WJP), an independent advocacy group based in the United States.
— Straits Times (annoying popups)

Singapore’s total fertility rate continues to dip, but citizen births and marriages are up
HOW Singapore can build a sustainable population in light of its ageing demographic was foremost on the minds of various Members of Parliament (MPs) on Day 1 of the Committee of Supply (COS) debates on Thursday.
— The Business Times

NTU accused of being sexist after university-approved job listing applicable only to male students
The Nanyang Technological University (NTU) has drawn flak for restricting a logistical job, under its university-approved Work Study programme, to male students. According to NTU’s website, “the Work Study Scheme (WSS) is a University-approved training programme for our students.
— The Independent

Singapore signs comprehensive partnership agreement with the United Arab Emirates
Singapore will enjoy stronger ties with the United Arab Emirates (UAE) under a new agreement .
— Straits Times (annoying popups)

RADM (NS) Ng Chee Peng steps down from CPF board while social media abuzz with election talks
The Straits Times reported today (28 Feb) that the CEO of CPF Board, RADM (NS) Ng Chee Peng would be stepping down on 1 Apr after 30 years in public service.
— The Online Citizen

Ex-banker shoots for space with better, cheaper rockets
Adam Gilmour had been a banker for more than 20 years when he left his job in 2012 to realise his boyhood dream of developing space technology, especially rockets.
— The Edge Singapore

Medals and goodbyes to 89-year-old Singaporean who ran 101 marathons
HE was no track champion but running was his life and at the wake of 89-year-old Chan Meng Hui, his casket was befittingly surrounded by an array of colourful medals picked up over three decades.
— The Independent

Hike in upper limit for quotations to help SMEs take part in higher-value public projects: Indranee
As part of the Government’s ongoing efforts to make it easier for small- and medium-sized enterprises (SMEs) to take part in public projects, the upper limit for quotations will be raised to S$90,000 this year.
— Channel NewsAsia (very annoying popups)

Yongnam FY18 loss widens to $51 mil on revenue decline, provisions & overheads
Yongnam Holdings, the engineering and construction services provider, reported FY18 loss widened to $51 million from $17 million a year ago due to lower revenue across all segments.
— The Edge Singapore

Government project quotation cap raised to S$90,000
THE upper limit for quotations in government procurement projects will be raised to S$90,000 this year from S$70,000 previously, making it easier for small firms to capture such projects, Second Minister for Finance Indranee Rajah announced in the Ministry of Finance’s Committee of Supply debate on Thursday.
— The Business Times

Second firm charged with illegally offering shared PMDs
Local start-up Neuron Mobility was charged in court on Thursday (Feb 28) with providing shared personal mobility devices (PMDs) in public places without a licence or exemption, the Land Transport Authority (LTA) said.
— Straits Times (annoying popups)

Netizens question the need for PM Lee to single out and sue blogger Leong Sze Hian for a petty reason
The legal battle between Prime Minister Lee Hsien Loong and veteran blogger Leong Sze Hian continues as PM Lee wrote in his affidavit dated 11 February that the article that the blogger shared on his Facebook page was a personal attack and an attack on the government of Singapore.
— The Online Citizen

Two women fly out of a bus and over the flyover in a fatal accident near Tuas Checkpoint
A bus crash near Tuas Checkpoint in the wee hours of Tuesday (26 Feb) saw two women being flung out of the bus and over the flyover connected to the checkpoint. The bus was heading into Singapore from Malaysia. Two female passengers, who are believed to have been seated near the front of the bus, …
— The Independent

Police haul up 26 suspects over e-commerce and commercial scams involving $460,000
The police have hauled up 26 people for their suspected involvement in e-commerce scams and offences related to commercial crimes.
— Straits Times (annoying popups)

Day 3 of Budget debate: MPs call for S’pore to remain committed to security needs, anticipate new threats
Cynthia Choo 7 hours 49 min ago SINGAPORE — With the nation facing global tensions and “insidious” cyber threats, Mem
— Today Online

Institutional investors slightly less cautious in February: State Street
Global investor confidence was slightly less cautious in February from the previous month, according to State Street’s global investor confidence index.
— Straits Times (annoying popups)

NMP Assoc. Prof Walter Theseira urges the formation of a strong and independent core of academics
During the Budget debate in Parliament on Wednesday (27 Feb), Associate Professor Walter Theseira, a Nominated Member of Parliament (NMP), said that Singapore needs to build a strong core of academics to keep the country in the right path and serve as a check and balance for the integrity and ability of the government.
— The Online Citizen

US-China trade truce may throw up a surprise winner: The Singapore dollar
About 41 per cent of fluctuations in the Singapore dollar in the past two years could be explained by changes in the offshore yuan.
— Straits Times (annoying popups)

Analysts: Misconception to bet on Government to help Hyflux
Bloomberg reported yesterday (27 Feb) that Hyflux creditors are due to file proof by Friday (1 Mar) of the obligations that Hyflux owes them.
— The Online Citizen

Housewife acquitted of maid abuse, judge says maid ‘prone to exaggeration’
A housewife was acquitted on Wednesday (Feb 27) of maid abuse allegations after a trial, with the judge saying the maid was prone to exaggeration.
— Channel NewsAsia (very annoying popups)

5 recommendations by Maybank as the S-REIT space eases into recovery mode
Maybank Kim Eng is remaining “positive” on the Singapore REIT space as it believes sector valuations will remain supported by recovering distributions per unit (DPUs), especially for hospitality; increased traction of capital recycling initiatives and acquisition momentum; and a backdrop of a slower rate hike cycle.
— The Edge Singapore

DBS launches robo-investor to encourage more Singaporeans to invest
DBS is the latest bank to employ technology to make it easier for customers to invest and manage their portfolios.
— Straits Times (annoying popups)

Open letter to all PAP cadres: Please focus on serving Singapore
This is an open letter to all People’s Action Party (PAP) cadres: Please, please, please rethink why you enter politics and look at the direction that the current PAP is going.
— The Online Citizen

Neuron Mobility charged for providing PMD-sharing services without licence
E-scooter sharing operator Neuron Mobility was charged on Thursday (Feb 28) for providing services at public places without a licence or exemption, the Land Transport Authority (LTA) said in a news release.
— Channel NewsAsia (very annoying popups)

Ocean Sky International warns of fiscal 2018 net loss
Civil engineering company Ocean Sky International expects to report a net loss for the financial year ended Dec 31, 2018, based on a preliminary assessment of unaudited financial results, the group said in a regulatory filing late on Wednesday (Feb 27) after the market closed.
— Straits Times (annoying popups)

UMS cut to ‘reduce’ by CGS-CIMB amid industry slowdown
CGS-CIMB is downgrading its call on UMS Holdings to “reduce” from “hold” with a reduced target price of 62 cents from 75 cents previously.
— The Edge Singapore

Sam the Samoyed is desperately in need of a new home
Facebook user Shana Yap is looking for a forever home for her late grandfather’s dog, Sam. Sam the 11-year old Samoyed is maybe getting old, but he remains healthy, friendly, and sweet.
— The Online Citizen

Development charge rates cut for non-landed residential use, but raised for hotel, commercial uses
The government has cut development charge (DC) rates for non-landed residential use by 5.5 per cent on average.
— Straits Times (annoying popups)

Q&M posts 40% drop in FY18 earnings on absence of one-off gain on disposal
Q&M Dental Group saw its earnings fall 40% to $14.3 million for the FY18 ended December, from $23.9 million a year ago.
— The Edge Singapore

Frasers Centrepoint Trust to buy 17.1% stake in PGIM Real Estate Fund for $342.5m
Frasers Centrepoint Trust (FCT) has entered into agreements to acquire a 17.1 per cent stake in PGIM Real Estate Asia Retail Fund Ltd for about $342.5 million, subject to determination of the dividend amount payable in respect of the sale shares for the fourth quarter of 2018.
— Straits Times (annoying popups)

Is this the best time to buy into Best World?
Analysts are divided over Best World International, as the group announced a 29% increase in earnings to $28.1 million in the 4Q18 ended December amid news that it plans to conduct an independent review on its business and accounting practices.
— The Edge Singapore

Orange Valley to provide day-care services for the elderly from March
The operator will be introducing its new Longevity Day Care Programme for seniors at its six-storey Orange Valley Balestier Care Centre.
— Straits Times (annoying popups)


Feature photo Be Positive

This week’s Singapore morning news feature photo acknowledges Zero Discrimination Day, March 1


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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