Singapore morning news for May 7

Singapore morning news for May 7
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Singapore morning news

Start-ups and big companies using blockchain to help fight conflict minerals
Tantalum, tin, tungsten and gold, often grouped together in mining industry jargon as 3TG, are vitally important to the industrial economy, used in high-tech products from smartphones to jets.
— The Edge Singapore

$1 mln up for grabs as SLINGSHOT returns to Singapore for third year (video)
Entrepreneurs of startups globally are preparing their submissions and contemplating their pitches with the opening of entries for the return of one of Asia’s premier startup pitching competition SLINGSHOT, for the third year.
— AEC News Today

Should Singapore work towards a ‘996’ working model?
Reputed for its capable workforce, Singapore’s position as a global talent hub has been integral to its economic progress. But an ageing society poses a threat to the Republic’s status as a regional economic and financial hub.
— Asean Today

S$1.3 billion in casino entry fees paid by Singaporeans, PRs since 2010
Around S$1.3 billion in casino entry fees were paid by Singapore citizens and permanent residents (PRs) between 2010 and 2018, said Second Minister for Home Affairs Josephine Teo in Parliament on Monday (May 6).
— CNA  (very annoying popups)

Medical care given was adequate, but could be improved: Minister
The medical care provided to late actor Aloysius Pang was adequate but could be improved, said Defence Minister Ng Eng Hen in Parliament yesterday, adding though that it did not cause or contribute to the death.
— Straits Times (annoying popups)

Singapore races Southeast Asia to get ahead on cloud
Singapore needs to step up efforts to drive the development and adoption of cloud native solutions so that it can stay ahead. “Countries such as Vietnam, Indonesia and Philippines are moving very fast,” said Philip Heah, Assistant Chief Executive of Technology & Infrastructure at the Infocomm Media Development Authority (IMDA) recently.
— Gov Insider

Singapore programme to assess use of exoskeletons in rehabilitation care
A new pilot in Singapore will assess the use and scalability of exoskeletons in rehabilitation care across various healthcare institutions, including a hospital, nursing home, and stroke support group.
— ZD Net

Why this Global Company wants to Help Healthtech Startups in Singapore
BlueChilli has partnered with Enterprise Singapore to launch a healthtech accelerator to spur innovation and help startups that address the real health challenges and opportunities in Southeast Asia.
— Entrepreneur

CGDP sets up committee to study alternatives to MOH exclusionary policy against general dentists, requests data supporting policy
The College of General Dental Practitioners Singapore (CGDP) has set up a committee to explore alternatives to the Ministry of Health (MOH)’s proposal to enforce a new policy which will exclude general dental practitioners from carrying out procedures labelled by the Ministry.
— The Online Citizen

‘No free passes’ for university students when it comes to sexual misconduct cases: Shanmugam
There are no free passes for university students or anyone else when it comes to sexual misconduct cases, Law and Home Affairs Minister K Shanmugam said in Parliament on Monday (May 6).
— CNA  (very annoying popups)

How to do business in Singapore
Making vast investments in sectors ranging from transport to education, Singapore imports £5.6 billion in goods and services from the UK each year.

Investors can now open CDP accounts online without paper documents
Investors can now open an individual Central Depository (CDP) account with Singapore Exchange (SGX) online, without the need to provide paper documents.
— The Edge Singapore

Online users unimpressed with rooftop gardens installed on public buses in Singapore
As part of an initiative to study the possibility of energy and cost savings for bus operators, 10 SBS Transit buses will be seen on the road with mini gardens on its rooftops for at least the next three months.
— The Online Citizen

Hyflux races to secure $400m deal with UAE’s Utico
Struggling water treatment firm Hyflux is hoping to nail down a $400 million deal with Utico FZC in a bid to fend off a move by seven banks to have the company placed under judicial management.
— Straits Times (annoying popups)

Few Singapore casino crimes linked to syndicates: govt
Singapore has since 2010 – the year its two casino resorts opened – seen “very few” casino-related crimes that have links to organised crime syndicates. So said Second Minister for Home Affairs, Josephine Teo, on Monday in the city-state’s parliament.
— GGR Asia

Competition to hit StarHub’s near-term earnings
Consensus are mostly neutral on StarHub following its results announcement on May 3. The group posted a 14.2% y-o-y drop in its 1Q19 earnings, with revenue increasing 6% y-o-y to $597 million.
— The Edge Singapore

DBS clarifies that no pin is necessary for international scheme debit cards after complaint goes viral
DBS has clarified that no pin is necessary for international scheme debit cards in response to The Independent’s queries on an account-holders claim that thieves managed to draw S$5,000 from an ATM card he had lost in Bali without needing his signature or pin number.
— The Independent

Land costs to expand IRs: S$1.3b for MBS, S$1b for RWS
LAND to expand Singapore’s two integrated resorts (IRs) will cost S$1.3 billion for the 3.3 hectare site for Marina Bay Sands (MBS), while Resorts World Sentosa (RWS) has set aside S$1 billion to intensify the use of its existing land and to buy around one hectare of new land.
— The Business Times

Singapore to host international electric car race in 2020
Formula E is said to be held together with the Singapore Grand Prix in September next year at the street circuit in Marina Bay.
— Straits Times (annoying popups)

COI findings in detail: Safety breaches and panic led to Aloysius Pang’s death
As the gun barrel inside the howitzer was about to be lowered, one of the two servicemen in the cabin along with the late actor Aloysius Pang had told Pang to move closer to him or to a safe position.
— Today Online

Singapore needs real leadership who can walk their talks, not more nonsensical motherhood statements
by Joseph Nathan Newly minted Deputy Prime Minister (DPM) Heng Swee Keat has been a saving grace for the People’s Action Party (PAP)’s 4G politicians since its announcement, given the fact that he is not a paper-general parachuted into parliament, which has become a pertinent issue that has …
— The Online Citizen

Sweeping law reforms to outlaw marital rape, penalise voyeurism passed
A sweeping and much-needed refresh of Singapore’s Penal Code was passed in Parliament on Monday (May 6), leading to the repeal of marital rape immunity, as well as more protection for vulnerable adults and young children.
— CNA  (very annoying popups)

Will Indonesia’s new Batam mega city lure Singapore’s cashed up buyers?
The four glass skyscrapers that have sprouted on the Indonesian island of Batam, a 45-minute ferry ride away from Singapore, are only the start of a billion-dollar plan to attract visitors, investors and property buyers.
— Asia One

Merdeka Generation Fund passed into law
A proposed law was passed by Parliament yesterday to establish the $6.1 billion Merdeka Generation Fund, which will help pay for the healthcare costs of nearly 500,000 Singaporeans.
— Straits Times (annoying popups)

UOB valuations & yield still deemed attractive after share price run-up
Jefferies, DBS Vickers Securities and RHB Research are maintaining their “buy” calls on United Overseas Bank (UOB) with the respective price targets of $31, $29.20 and $30.80 following last week’s release of the bank’s 1Q19 earnings, which grew 8% on-year on higher interest income.
— The Edge Singapore

New mandatory minimum jail sentences among proposed amendments to Road Traffic Act
In the first reading of the Bill, the Ministry of Home Affairs laid out new penalties and tighter regulatory frameworks to deter irresponsible driving.
— Channel NewsAsia (very annoying popups)

Australia’s BlueChili launches healthtech accelerator in Singapore
Launched in partnership with Enterprise Singapore, The BlueChili HealthTech Accelerator is looking for healthtech startups from the Southeast Asian region Australia-based venture studio and innovation group BlueChili today announced its partnership with Enterprise Singapore.
— e27

DPM Heng leads team on study trip to Switzerland
Deputy Prime Minister Heng Swee Keat is in Switzerland on a study trip until Friday.
— Straits Times (annoying popups)

Singapore school looking into viral video of two students fighting in toilet
A video of two Tampines Secondary School students fighting in a toilet, believed to be in the school, has gone viral.
— The Star Online

Analysts have conflicting views on Hi-P with competition expected to increase in near-term
Analysts seem to have a conflicting outlook on Hi-P International, following the group’s latest results announcement.
— The Edge Singapore

Parliament: No ‘free passes’ for sexual misconduct offenders, says Shanmugam
Whether the perpetrators in sexual misconduct cases are university students or anyone else, there are no “free passes” for them, said Home Affairs and Law Minister K. Shanmugam.
— Asia One

Synagie to assist in managing online sales for Samsonite
Synagie Corporation, the e-commerce enabler, has agreed to help Samsonite international, manage the online sales of Samsonite International’s brands, marking the group’s foray into the travel and lifestyle e-commerce sector.
— The Edge Singapore

Minimum age of criminal responsibility to be raised from 7 to 10
The minimum age at which a person is criminally responsible for his actions will be raised from seven to 10, following Parliament’s approval of a new law yesterday.
— Straits Times (annoying popups)

Singapore to carry out labour curbs
Singapore has attracted high-tech manufacturers with incentives and a well-educated workforce but growing demands for highly skilled labour and government moves to curb numbers of foreign workers may mean a tougher path ahead.
— The Star Online

Singapore passports available online for S$3,800
Singapore– Singapore’s passport is the most powerful one in 2019, according to a recent report, which makes it no surprise that forgeries of these documents go on sale for upwards of S$3800 online.
— The Independent

AIC urges the government to include checks and balances in POFMA and calls for transparency in application ahead of Parliamentary debate
The Asia Internet Coalition (AIC) have put forth several observations and recommendations with regards to the Protection from Online Falsehoods and Manipulation (POFMA) which they hope will be considered in Parliament during the debate of the bill.
— The Online Citizen

Championing SME interests ‘is about doing, not talking’
KURT Wee may be the voice for small and medium-sized enterprises (SMEs) here, but he would much rather be judged by his actions instead.
— The Business Times

Mediacorp’s data analytics platforms RIPPLE and MeID win 9 awards at Global BIGGIES 2019
Mediacorp’s proprietary data analytics platforms MeID and RIPPLE won nine awards at the Global BIGGIES Awards competition in San Francisco last Thursday (May 2).
— Today Online

Hyflux names UAE firm as next potential suitor with $400 mil injection deal
Hyflux has identified Utico FZE as its next potential white knight investor which might make a capital injection of $400 million, weeks ahead of its extended debt moratorium until May 24.
— The Edge Singapore

COI: All three soldiers in gun’s cabin breached safety rules
Each of the three soldiers in the cabin of an artillery gun that was being rectified on Jan 19 this year, including the late Singapore actor Aloysius Pang, committed safety lapses that eventually led to his death, an independent Committee of Inquiry (COI) has found.
— Straits Times (annoying popups)

Laurel Tree, Sycamore Tree dispute with buyers a private matter: URA
THE ongoing negotiations between the receivers and the buyers of the unfinished Laurel Tree and Sycamore Tree residential projects is a private matter, the Urban Redevelopment Authority (URA) said.
— The Business Times

Aloysius Pang death: COI finds accident due to lapses by Pang, 2 other servicemen
The training accident that led to the death of national serviceman Aloysius Pang in January was due to lapses by Pang and two other servicemen who were in the Singapore Self-Propelled Howitzer (SSPH) at the time, a Committee of Inquiry (COI) has found.
— CNA  (very annoying popups)

Singapore May Allow Virtual Banks After Hong Kong, DBS Says
Singapore could follow Hong Kong in handing out virtual banking licenses, according to the head of the largest local lender, in a move that would create another source of competition for the city state’s established banks.
— Bloomberg


Feature photo vaidehi shah

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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