| Regional Affairs
Singapore central bank in touch with banks on Malaysia's 1MDB-Najib probe Channel News Asia 8th Jul 2015
Singapore's central bank says it is in contact with financial institutions in relation to Malaysia's probe into allegations hundreds of millions of dollars had been transferred to accounts of Prime Minister Najib Razak. The Wall Street Journal (WSJ) reported last week that investigators looking into debt-laden state-owned fund 1MDB had traced nearly US$700 million of money that came through a private bank account in Singapore into accounts in Malaysia they believed belonged to the Prime Minister.
Singapore, New Zealand to advance RCEP free trade agreement Channel News Asia 8th Jul 2015
Singapore and New Zealand are working to further advance the Regional Comprehensive Economic Partnership (RCEP), said President Tony Tan Keng Yam on Tuesday (Jul 7). The partnership is a free trade agreement between Southeast Asian nations and other countries including China, India and Australia. Dr Tan was speaking at a state banquet held in honour of New Zealand's Governor-General Jerry Mateparae's state visit to Singapore.
Singapore, New Zealand reaffirm bilateral relations Channel News Asia 7th Jul 2015
New Zealand and Singapore on Tuesday (Jul 7) reaffirmed bilateral relations, during Governor-General Jerry Mateparae’s state visit to the Republic. Mr Mateparae received a ceremonial welcome at the Istana on Tuesday morning, said the Ministry of Foreign Affairs (MFA). This was followed by separate meetings with President Tony Tan Keng Yam and Prime Minister Lee Hsien Loong.
Singapore, Myanmar reaffirm bilateral ties at Joint Ministerial Working Committee meeting Channel News Asia 6th Jul 2015
Singapore and Myanmar reconvened the bilateral Joint Ministerial Working Committee (JMWC) in Yangon, Myanmar on Monday (Jul 6). A joint press statement by Singapore's Ministry of Trade and Industry and the Myanmar Investment Commission said the 5th JMWC meeting was co-chaired by Singapore’s Minister for Trade and Industry Lim Hng Kiang and Union Minister for Energy and Chairman of the Myanmar Investment Commission Zay Yar Aung.
S'pore President Tony Tan commemorates Singapore-China diplomatic ties in Beijing Channel News Asia 4th Jul 2015
Singapore President Tony Tan Keng Yam who is now in China on a state visit has met with Chinese President Xi Jinping and Premier Li Keqiang on Friday (Jul 3). Speaking at the SS25 reception commemorating the 25th anniversary of Singapore-China diplomatic ties in Beijing, President Tan noted that bilateral cooperation has progressed by leaps and bounds.
China-Singapore relations will continue to evolve over time: President Tony Tan Channel News Asia 4th Jul 2015
The relationship between China and Singapore would continue to evolve over time, in line with the changing needs of the two countries, said Singapore President Tony Tan Keng Yam. He was speaking to the Singapore media in Beijing at the end of a six-day state visit to China on Saturday (Jul 4). President Tan also said that during an earlier meeting with Chinese President Xi Jinping, both sides have agreed to work positively towards upgrading the China-Singapore Free Trade Agreement.
Tony Tan, Xi Jinping witness signing of 3 MOUs Channel News Asia 3rd Jul 2015
Singapore President Tony Tan Keng Yam, who is in China on a state visit, met Chinese President Xi Jinping and Premier Li Keqiang on Friday (Jul 3). Dr Tan and Mr Xi witnessed the signing of three Memorandums of Understanding (MOUs) at the Great Hall of the People.
Singapore needs ecosystem for innovation to remain competitive: MAS Channel News Asia 3rd Jul 2015
The Monetary Authority of Singapore's (MAS) managing director, Ravi Menon, has said that for the economy to remain competitive in the next 50 years, an ecosystem for innovation must be created, bringing together small and large firms. He said this on Friday (Jul 3) at the SG50+ Conference organised by the Institute of Policy Studies and the Lee Kuan Yew School of Public Policy.
OCBC, UOB banks open branches in Myanmar Channel News Asia 2nd Jul 2015
Singapore banks OCBC and UOB officially opened branches in Myanmar on Thursday (Jul 2), becoming some of the first foreign banks to set up operations in the emerging economy. Singapore's Deputy Prime Minister Teo Chee Hean, who was present at the banks' opening ceremonies in Yangon, said the economic partnership between the Republic and Myanmar is set to grow further. He added that the banks will contribute to "a new phase of Myanmar's development".
National Affairs
ASEAN Community Blueprints: Public feedback sought Channel News Asia 6th Jul 2015
Three ministries are inviting stakeholders and members of the public to participate in a public consultation exercise starting on Monday (Jul 6). The ministries - the Ministry of Foreign Affairs (MFA), Ministry of Trade and Industry (MTI) and Ministry of Social and Family Development (MSF) - are holding the joint exercise to seek public opinion and views on the ASEAN Community Blueprints (2016-2025), according to an MFA press release.
Startup magnet: Singapore unfurls the welcome mat Asia One 2nd Jul 2015
A vibrant startup ecosystem is taking hold in Singapore, attracting entrepreneurs from far beyond Southeast Asia. One of them is Mitsunobu Okada, who set up a company in the city-state in 2013. His business, Astroscale, is aiming high: It wants to clean up Earth's orbit. There is a lot of junk up there -- disused satellites, rocket scraps and other remnants that pose a danger to spacecraft. There are millions of tiny pieces zooming around at high speed. More than 20,000 objects are bigger than a softball, according to NASA. Astroscale is developing a system for collecting some of the debris.
Defense & Security
Singapore Army celebrates 50th anniversary of 2nd People's Defence Force Channel News Asia 8th Jul 2015
As the Singapore Army commemorates the 50th birthday of one of its oldest formations - the 2nd People's Defence Force (PDF), it has also commissioned the newest addition to its defensive capabilities, the Peacekeeper Protected Response Vehicle (PRV) at Clementi Camp. At a ceremony on Wednesday (Jul 8), 2 PDF's Commander Brigadier General (BG) Terry Siow recounted how the formation had progressed over the years, from a force that relied heavily on basic equipment, and the commitment of its volunteers.
Malaysia, Singapore order VL MICA naval variant Jane's 2nd Jul 2015
European missile house MBDA Missile Systems has chalked up two additional sales for its VL MICA shipborne point defence missile system, bringing its total number of confirmed customers to six. Malaysia and Singapore will now join Egypt, Morocco, Oman and the United Arab Emirates, all of which have previously specified the naval variant of the VL MICA system Earlier this year Malaysia's Boustead Naval Shipyard Sdn Bhd disclosed that VL MICA had been confirmed as the point defence missile system for the Royal Malaysian Navy's six-ship Second-Generation Patrol Vessel - Littoral Combat Ship (SGPV-LCS) programme.
Economics
Singapore to release advance Q2 GDP data next Tuesday Channel News Asia 7th Jul 2015
The Republic's advance gross domestic product (GDP) estimates for the second quarter will be released at 8am, next Tuesday (Jul 14), the Ministry of Trade and Industry said on Tuesday. According to a quarterly survey released by the Monetary Authority of Singapore (MAS) in June, private sector economists are now less upbeat about the growth outlook for the Singapore economy this year, and have moderated their growth expectations for several sectors.
Are Singapore's Pessimistic CFOs a Warning Sign for Asia? Bloomberg 5th Jul 2015
Singapore could be the canary in the coal mine as the outlook for Asia's exports worsens. Chief financial officers in the city-state are the most pessimistic in the region when it comes to profits this year, according to a survey by Bank of America Merrill Lynch. In the poll of 630 CFOs, 37 percent of those in Singapore said they expect earnings to grow in 2015, about half the regional average.A weak global environment and sluggish domestic market are driving the negative sentiment, according to the bank. Four-fifths of Singapore CFOs also cited U.S. interest-rate movements as a key risk this year, while about half said they were considering a change in their China strategies.
Energy
S$6m awarded to 4 research programmes on energy efficiency Channel News Asia 9th Jul 2015
The Building and Construction Authority (BCA) will be awarding S$6 million to four research projects on improving the energy efficiency of buildings, announced Minister of State for National Development Desmond Lee at the Urban Sustainability R&D Congress on Thursday (Jul 9). The projects focus on air-conditioning and mechanical ventilation systems, which account for a major part of a building's energy consumption, and will take around two to three years to complete.
Challenging for Singapore to find alternate energy sources: Shanmugam Channel News Asia 8th Jul 2015
It is a challenge for Singapore to find other alternative energy sources, according to Minister for Law and Minister for Foreign Affairs K Shanmugam. Mr Shanmugam made this point on Wednesday (Jul 8) at the inaugural Asian Undergraduate Summit organised by the National University of Singapore Students' University Scholars Club. The summit brought together undergraduates from leading Asian universities to discuss regional issues.
Move to nuclear power needed if Singapore wants to cut emissions Channel News Asia 4th Jul 2015
In the next 50 years, Singapore can either choose to continue using natural gas to meet most of its energy needs, or move to nuclear power, said a panellist at an Institute of Policy Studies conference on Friday (Jul 4). Nuclear power is the option if Singapore wants to seriously address climate change and cut carbon emissions, said futurist and business strategist Peter Schwartz, who is also on Singapore’s Research, Innovation and Enterprise Council.
Manpower Ministry cracks syndicate over illegal import of labour; 41 arrested Singapore Today 4th Jul 2015
Forty-one people have been arrested after the Ministry of Manpower (MOM) mounted an islandwide enforcement operation against a syndicate suspected of being involved in the illegal importation of labour, the ministry said yesterday. The suspects, including the alleged mastermind and members of the syndicate, were apprehended on Wednesday and Thursday. Investigations revealed the syndicate would set up shell companies to bring in the foreign workers, the MOM said, adding that the syndicate would collect large amounts of kickbacks from the workers. “As there is no actual employment, the upkeep and maintenance are left to these workers who have unwittingly become victims of the scam,” it added.
Singapore pledges to stabilise greenhouse gas emissions by 2030 Channel News Asia 3rd Jul 2015
Singapore has made a pledge to stabilise and limit its yearly greenhouse gas emissions to about 65 million tonnes by 2030. This is part of the country's contributions to the United Nations Framework Convention on Climate Change Secretariat. In all, 196 pledges or Intended Nationally Determined Contributions are expected from various countries and parties. The pledges will be discussed at the annual Conference of Parties in Paris in December this year, to develop a new global climate agreement for the post-2020 period.
Total Oil opens largest lubricant oil-blending plant in Singapore Channel News Asia 3rd Jul 2015
Total Oil Asia Pacific officially launched its largest lubricant oil-blending plant in Singapore on Friday (Jul 3) in Tuas. It is a consolidation of its existing two plants in Pandan and Pioneer. The investment is worth US$150 million (S$202 million). With the new facility, Total will be able to double its lubricants production in Singapore, boosting its regional capacity by 30 per cent when fully operational. It has an annual production capacity of 310,000 metric tons, equivalent to 62 million car oil changes. It will meet demand from various industries including automotive, industrial and marine.
Financial Services
Alibaba ploughs further S$279m in SingPost, invest in e-commerce unit Channel News Asia 8th Jul 2015
Chinese e-commerce giant Alibaba Group Holding is investing about S$279 million (US$205.98 million) to expand its holdings in Singapore Post Ltd (SingPost) and its e-commerce subsidiary, the two companies said in a statement. SingPost is seeking to boost its e-commerce business to offset weak postal revenues, and last year an Alibaba unit bought a stake of more than 10 per cent in SingPost for US$249 million.
Most Singapore firms looking to exit China on back of slowing growth, rising costs Singapore Business Review 7th Jul 2015
64% have already moved their Asia headquarters. Approximately half of the Singapore CFOs said they were considering a change in their China strategies, the Bank of America Merrill Lynch 2015 CFO Outlook Asia survey showed. Of those, 64 percent said they had already moved their Asian headquarters out of China to another country in Asia in the past year, while 80 percent are contemplating moving at least part of their operations out of China in the coming year.
Singapore's exposure to Greek economic crisis 'negligible': MAS Channel News Asia 6th Jul 2015
Singapore's domestic money and foreign exchange markets continued to function in an "orderly fashion" on Monday (Jul 6) after Greek voters said "no" to further austerity measures in return for bailout funds on Sunday, according to the Monetary Authority of Singapore (MAS). In response to media queries, MAS said it is "closely monitoring developments in the Eurozone economy and global financial markets", as well as their potential impact on domestic markets and the economy.
Singapore could lose competitive edge if wages grow without productivity gains Channel News Asia 6th Jul 2015
Singapore could lose its competitive edge within the next decade if wages continued their pace of growth without corresponding productivity gains, according to human resource experts. For a large part of the last decade, productivity growth has repeatedly fallen below wage growth. Productivity did surge ahead after the global financial crisis, but the momentum was not sustained, and wage growth continued to outpace productivity growth afterwards.
Nuffnang owner Netccentric begins trading on Australian Stock Exchange Channel News Asia 6th Jul 2015
Netccentric Limited has begun trading on the Australian Stock Exchange (ASX), the company announced on Monday (Jul 6). The company said it has issued 62.5 million shares at A$0.20 (S$0.20) each to “strong institutional and retail participation”, adding that it has also raised A$12.5 million, more than its initial minimum target of A$7.5 million. These constitute Netccentric’s first external funding, it revealed.
Trading activity in securities, derivatives markets up in June: SGX Channel News Asia 6th Jul 2015
Trading activity for the securities and derivatives markets picked up pace in the Singapore Exchange (SGX) last month, the bourse operator said on Monday (Jul 6). The total trading value for securities rose to S$25 billion in June, up 20 per cent year-on-year and up 8 per cent month-on-month. The daily average trading value was S$1.2 billion, also up 20 per cent from last year and 8 per cent from the previous month.
NTUC to help Singapore PMEs compete on global stage: Chan Chun Sing Channel News Asia 3rd Jul 2015
The National Trades Union Congress (NTUC) is keen to help Singapore professionals, managers and executives (PMEs) improve their skills and widen their networks so that they can compete better on the international stage, Secretary-General Chan Chun Sing said on Friday (Jul 3). He was speaking at the launch of a Master Class series by NTUC's Employment and Employability Institute (e2i) that caters to PMEs.
MAS refines proposals to strengthen REIT market Channel News Asia 2nd Jul 2015
The Monetary Authority of Singapore (MAS) has refined its proposals to strengthen the real estate investment trust (REIT) market, following feedback from industry participants. The changes, which will be phased in to facilitate smooth implementation by the industry, include capping borrowings to 45 percent of the REITs' total assets, MAS said on Thursday (Jul 2). Currently, the cap on borrowing is 35 per cent of total assets for REITs that are not rated, and 60 per cent for REITs with credit ratings.
MAS advises caution when trading SGX shares Channel News Asia 2nd Jul 2015
The Monetary Authority of Singapore (MAS) issued on Thursday (Jul 2) a "trade with caution" advisory on the Singapore Exchange (SGX) after the surge in its share price the previous day. "In view of the trading activities observed and the issuer's response that it is not aware of any reasons for such activities, shareholders and potential investors should exercise caution when dealing in the securities," MAS said.
‘Significant progress’ made in clearing audit issues, says AHPETC Today Online 2nd Jul 2015
Aljunied-Hougang-Punggol East Town Council (AHPETC) said it had made “significant progress” in clearing disclaimers made by auditors in past reports, even as it acknowledged that qualifications would continue to be expected in its future audit reports. The Workers’ Party-run town council was responding to a statement by the Ministry of National Development (MND) yesterday (July 1), which pointed out that AHPETC’s latest audited accounts again contained qualifications from its auditors — for the third straight year.
Temasek Assets Rise to Record as It Boosts Global Investments Bloomberg 7th Jul 2015
Temasek Holdings Pte’s assets jumped to an all-time high as the Singapore state-investment firm increased investments in developed markets and broadened those in China as global equity markets gained. The value of Temasek’s holdings increased 19 percent to a record S$266 billion ($197 billion) in the 12 months to March 31, from S$223 billion in the previous year and more than double a decade ago, the firm said in its annual report Tuesday. It made S$30 billion of new investments, the highest in seven years, and a record S$19 billion of divestments, taking advantage of liquidity-driven market rallies. “Temasek’s agile and aggressive investment style continues to pay off,” said David Evans, an analyst at the London-based Sovereign Wealth Center. “They kept diversifying their portfolio across geographies, especially in Europe and North America, and I expect them to continue to do so.”
Manulife Unit Delays Singapore Listing as Markets Sour The Wall Street Journal 6th Jul 2015
Manulife US Real Estate Management Pte. Ltd. said Monday that it will delay a planned US$465 million initial public offering in Singapore due to volatile market conditions, the latest firm to fall victim to weak investor sentiment. The company, a unit of Canadian insurer Manulife Financial Corp., started taking orders from investors last week, but investor demand for the real-estate investment trust’s units didn’t meet company expectations, people with knowledge of the deal said. “In light of increased volatility in the equity capital market, the IPO of Manulife US Real Estate Investment Trust has been delayed. Depending on market conditions, the IPO is expected to proceed at a later date,” the company said in a statement.
Chart of the Day: Delinquent loans are a sore spot for local banks Singapore Business Review 6th Jul 2015
Discover who's most at risk. Non-performing loans (NPLs) are a spot of bother for Singapore's three largest banks, according to this chart from CIMB. Compared to fears over the Greek crisis, CIMB believes that banks should worry more about delinquent loans at home and within the region. "We are more concerned about operational NPLs or possible NPLs that stem from the customer lending business, closer to home. There are three possible pots of NPLs that we are concerned about. These include the banks’ portfolios in: 1) Singapore mortgages, 2) oil & gas, and 3) commodities, ASEAN and developing Asia," said CIMB.
Trading in securities up in June but down for full-year, derivatives market continues strong growth: SGX The Straits Times 6th Jul 2015
Trading in securities, derivatives and commodities on the local bourse jumped last month, Singapore Exchange (SGX) said on Monday. The total trading value for securities rose to $25 billion in June, up 20 per cent year-on-year and up 8 per cent month-on-month. The daily average trading value was $1.2 billion, also up 20 per cent from last year and 8 per cent from the previous month. There were 37 bond listings, raising $12 billion, down from 45 issues raising $21 billion a year ago, and one share listing raising $11 million versus $10 million raised in two listings a year earlier, SGX said.
Temasek Surfs Worldwide Equity Rally as Assets to Reach New High Bloomberg 5th Jul 2015
Temasek Holdings Pte rode a rally in global equities with a focus on developed markets that probably helped the Singapore state-owned investor’s assets reach a record. Assets at the firm, which releases results this week, may have increased 16 percent to 18 percent to as much as S$263 billion ($195 billion) in the year to March 31, according to estimates by Institutional Investor’s Sovereign Wealth Center and CMC Markets. That would be the biggest jump in assets in five years and surpass last year’s all-time high of S$223 billion. “They had a great year for their equity investments,” said Nicholas Teo, a Singapore-based strategist at CMC Markets who has been following Temasek’s annual results over the last 10 years. “It shows how aggressive their investment style is compared to other state investors.”
Singapore Bail-in Proposals Make Senior Bond Holders Breathe Easy Jakarta Globe 3rd Jul 2015
Holders of senior debt from Singapore’s banks will have reason to breathe easy if the Monetary Authority of Singapore implements proposals to limit its statutory bail-in framework to subordinated debt. The proposal, part of a set of proposed enhancements to the bank resolution regime, will turn Singapore into one of the most investor-friendly nations for senior bank debt, as opposed to the approach favoured in Europe and elsewhere. Many countries have introduced legislation that forces senior bondholders to share losses if a bank becomes no longer viable, adding another buffer to protect taxpayers and depositors. Instead, Singapore is limiting the use of bail-in powers to subordinated debt, which is already loss-absorbing under Basel III, effectively pledging to support senior bondholders if a bank fails.
10 more ETFs on SGX gain excluded investment product status The Straits Times 3rd Jul 2015
Ten more exchange traded funds (ETFs) have been converted to the excluded investment product (EIP) status, boosting the number of EIP ETFs listed on the Singapore Exchange to 19, SGX said on Friday. The 10 ETFs, which are issued by Deutsche Asset & Wealth Management and are largely cash-based, cover a wide geographical spread of both developed and emerging economies, including Brazil, China, South Korea and Thailand. In this way, investors are able to ride on the growth in these countries. Retail investors do not have to be pre-qualified for ETFs classified as EIPs, which give them greater access to such securities.
MAS to go ahead with most proposed changes for Reits market The Straits Times 2nd Jul 2015
The Monetary Authority of Singapore (MAS) on Thursday announced it will go ahead with most of the new rules it had proposed for the booming property trust sector. The new measures are aimed at giving Reit unitholders "better protection and greater accountability", while providing managers with more flexibility operationally, MAS said in a statement. It had sought industry feedback last October via a consultation paper that pencilled proposals to "strengthen" the real estate investment trust (Reit) market.
Financial advisers' association pushes for guidelines on insurance commission rebates The Business Times 2nd Jul 2015
The Association of Financial Advisers (Singapore), or AFA(S), has urged the Monetary Authority of Singapore to take a closer look at the way in which commission rebates for life insurance policies are carried out in the industry. AFA(S) president Vincent Ee stressed the importance of having guidelines on how such rebates should be carried out so that they are ethical and proper. He noted that while commission rebates lower policy premiums and benefit consumers, such incentives if carried out improperly could induce overbuying of insurance policies.
Health & Life Sciences
Higher Medisave withdrawal limits for older Singaporeans to pay for IP premiums Channel News Asia 9th Jul 2015
Those aged 41 and above with Integrated Shield Plans (IP) will be able to withdraw more from their Medisave to pay for their premiums when MediShield Life rolls out at the end of the year, the Ministry of Health (MOH) announced on Thursday (Jul 9). The new limits, called Additional Withdrawal Limits, are aimed at helping Singaporeans use Medisave to pay - up to a cap - the additional premiums for the private insurance component of Medisave-approved IPs, the Ministry of Health said.
Health Promotion Board expands its programmes for specific groups The Straits Times 9th Jul 2015
At least 1,800 students in three madrasahs have benefitted from healthy-living programmes rolled out by the Health Promotion Board and 107 student ambassadors in these madrasahs have been trained since 2014. Over the years, the board's smoking cessation programme for the Malay community has also gained traction it said on Thursday, in giving an update on its targeted initiatives for various communites in Singapore.
Path open for more nurses to upgrade The Straits Times 9th Jul 2015
As an enrolled nurse at the Singapore General Hospital, Ms Nur Rimma Mohd Ali, 32, handles what are known as patients' activities of daily living - basic needs such as bathing and toileting. She has done this since she graduated from the Institute of Technical Education with a Nitec in nursing in 2005. However, Ms Nur Rimma may soon be able to manage more of patients' medical needs, including administering medications and putting in intravenous lines.
Number of dengue cases in Bishan North tops 140 Channel News Asia 7th Jul 2015
The number of dengue cases reported across Singapore is on the rise, according to statistics from the National Environment Agency's (NEA) website. Top of the list of hotspots is the Bishan North area. The affected areas are Bishan Street 22, 23, 24 and 25. As of Jul 6, 144 dengue cases have been recorded in these clusters, up from 131 on Jul 3. 37 cases were reported in the last two weeks.
Firms urged to switch to Portable Medical Benefits Scheme Channel News Asia 7th Jul 2015
The Singapore National Employers Federation (SNEF) has said that companies may have to budget up to double the amount for employee medical benefits, if they were to switch to a portable scheme. Still, the federation said it makes sense for companies to make the switch now, especially with the introduction of MediShield Life. The comments come as the Labour Movement is pushing for a restructuring of the scheme. Unlike a company's group medical insurance, portable medical benefits will cover employees even if they are out of work or in between jobs.
300 lower-income, elderly residents in Jurong get free medical consultations Channel News Asia 5th Jul 2015
About 300 residents in Jurong received free medical consultations on Sunday (Jul 5) as part of an ongoing pilot to help them manage chronic illnesses. The response has been very positive, said Minister in Prime Minister’s Office Grace Fu. Project Big Heart aims to aid lower-income residents and the elderly with chronic conditions like high blood pressure and diabetes. The programme, a joint project by Jurong Central CCC, Fullerton Healthcare Group and Loving Heart Multi-Service Centre (Jurong), was initially only open to residents in Jurong Central when it was first launched in January, but has since been extended to Jurong Spring and Yuhua.
Activity centre promoting active ageing opens in Jurong West Channel News Asia 5th Jul 2015
A new activity centre seeking to promote active ageing among seniors in Jurong West was officially opened on Sunday (Jul 5) by Deputy Prime Minister Tharman Shanmugaratnam, who is also Member of Parliament for Jurong GRC. The first Adventist Active Centre caters for elderly residents, especially some 300 living in the studio apartments at Block 530 Jurong West Avenue 1.
More dengue cases reported in Bishan North Channel News Asia 3rd Jul 2015
Despite efforts by the National Environment Agency (NEA) and members of the Bishan community to curb a dengue outbreak, there have been 131 dengue cases reported in the Bishan North area since the clusters formed. Three weeks ago, when a red alert was raised, that number stood at 42. The affected streets are Bishan Streets 22, 23, 24 and 25, near the Bishan-Ang Mo Kio park. In recent weeks, more NEA officers and grassroots volunteers have been making their rounds, according to residents.
Duke-NUS researchers make dengue breakthrough Channel News Asia 3rd Jul 2015
Researchers here are potentially one step away from finding a cure for dengue. Scientists at Duke-NUS Graduate Medical School have discovered an antibody that can kill all strains of the dengue serotype DENV-2, one of two common serotypes in Singapore. The researchers are in the midst of developing a cocktail of drugs that can kill all four dengue serotypes, having found the DENV-1 antibody in 2012 and the DENV-3 antibody in February this year. They will next need the antibody for serotype DENV-4.
ICT
ASX attractive to Singapore tech startups Channel News Asia 9th Jul 2015
A number of Singapore firms are choosing to list in Australia, where small technology firms tend to trade at higher valuations. Industry players said the ASX will continue to attract Singapore tech startups, so long as investors here remain conservative. The Netccentric Group is the latest Singapore name to list on the ASX. It made its debut earlier on Jul 6, following an IPO which raised A$12.5 million.
Two steps forward, one step back for Singapore’s fourth telco hopefuls Singapore Business Review 8th Jul 2015
Companies gunning to be Singapore’s fourth mobile network operator (MNO) have taken two steps forward and one step back after the Infocomm Development Authority (IDA) revealed its plans to hold a spectrum auction in early 2016. Analysts noted that while the regulator appears dead-set on facilitating the entry of a fourth telco, the IDA has not granted all of their wishes.
Liberty Wireless taps on M1's network to enter telco market Channel News Asia 8th Jul 2015
The Singapore-based mobile telecommunications company will ride on M1's mobile network to be the first mobile virtual network operator to offer voice, messaging and data services to postpaid customers here. Mobile telecommunications company Liberty Wireless - will soon start offering nationwide mobile service, riding on M1's mobile network.
IDA to offer spectrum at lower price to facilitate entry of fourth telco Today Online 7th Jul 2015
The Infocomm Development Authority (IDA) is setting aside spectrum at a much lower price, so as to facilitate the entry of a fourth telco, the authority announced today (July 7). As barriers to entry will be high, a spectrum auction that will take place by early next year will start at S$40 million for 60 MHz of spectrum, which IDA said is sufficient for the new entrant to roll out a nationwide network. The IDA also said that it does not see the market as being able to support more than four players.
IDA proposes capping entry of new mobile network operators to one Channel News Asia 7th Jul 2015
The Infocomm Development Authority of Singapore (IDA) has proposed a maximum of one new entrant into the local mobile market. This was announced in a press briefing on Tuesday (Jul 7). This will be done by setting aside 60 MHz out of 225 MHz of spectrum at a lower indicative reserve package price of S$40 million, in an auction open only to potential new entrants. The new entrant who successfully bids for the set-aside spectrum is required to deploy its own network and achieve nationwide rollout by September 2018.
Enabling digital inclusion as Singapore moves towards Smart Nation vision Channel News Asia 6th Jul 2015
Singapore wants to be a “Smart Nation”, and the vision is described by Prime Minister Lee Hsien Loong as “a nation where people live meaningful and fulfilled lives, enabled seamlessly by technology". But beyond the gloss, digital sociologist Nilanjan Raghunath, who studies the impact of technology on society, said as a Smart Nation, Singapore has some "hard choices" to make.
President Tony Tan visits Huawei's Executive Briefing Centre in Beijing Channel News Asia 2nd Jul 2015
Singapore President Tony Tan Keng Yam visited Huawei’s Executive Briefing Centre in Beijing on Thursday (Jul 2). He is in China on a state visit as the two countries mark the 25th anniversary of the establishment of diplomatic ties. Dr Tan was introduced to Huawei’s latest technology, including recent innovations in broadband technology. He also met Huawei's chairwoman Sun Yafang.
Singapore June factory activity at 7-month high, electronics expands Today Online 2nd Jul 2015
Activity at Singapore's factories hit a seven-month high in June thanks to an increase in new orders, with the key electronics sector returning to growth, a survey showed on Thursday. The Singapore Institute of Purchasing & Materials Management's Purchasing Managers' index (PMI) rose to 50.4, the highest since November. The PMI in May stood at 50.2.
Singapore upgrades SingPass e-government platform Telecompaper 6th Jul 2015
Singapore has upgraded its SingPass e-government platform. Starting 5 July, SingPass users will have access to an improved SingPass user interface, mobile-friendly features and upgraded security capabilities with the enhanced system. Launched in 2003, Singapore Personal Access (SingPass) is a gateway to over 200 e-services offered by more than 60 government agencies, enabling users to only have to remember one password when connecting and transacting with the Government. The system is managed by the Infocomm Development Authority of Singapore.
Infrastructure
Taking our infrastructure to new heights Today Online 6th Jul 2015
Ms Low Pei Chin, 39, is a senior principal engineer in the Water Reclamation (Plants) Department, Planning and Development Division of PUB, Singapore’s national water agency. Her job involves managing development projects, making sure that schedules are followed and the projects don’t go over budget. In 2012, the same year she joined PUB, a feasibility study of Phase 4 of the Jurong Water Reclamation Plant’s expansion was conducted. Today, it is in the construction phase and Ms Low is the project lead.
Manufacturing
Singapore’s manufacturing economy expands in June Channel News Asia 2nd Jul 2015
Singapore's manufacturing economy expanded for the second straight month in June, after contracting over five consecutive months. The Singapore Purchasing Managers' Index (PMI) posted a reading of 50.4, an increase of 0.2 point from the previous month. A reading above 50 indicates that the manufacturing economy is generally expanding, while a reading below 50 means that it is generally declining.
Myanmar
Myanmar, Singapore to cooperate in banking supervision Xinhua Net 7th Jul 2015
Banking authorities of Myanmar and Singapore have agreed to cooperate in banking supervision and capacity building, an official report said Tuesday. The move will be made under a memorandum of understanding signed between the Central Bank of Myanmar and the Monetary Authority of Singapore at their 5th Myanmar-Singapore Joint Ministerial Working Committee Meeting resumed here Monday. The joint meeting exchanged views on developing an inter-bank funding market as well as deepening technical cooperation in banking and capital market supervision.
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