| Regional Affairs
Singapore and Australia enhance cybersecurity collaboration Asia Insurance Review 13th Jun 2017
Singapore and Australia have signed a Memorandum of Understanding (MOU) on strengthening cybersecurity cooperation. It covers cooperation in key areas including regular information exchanges on cybersecurity incidents and threats, sharing of best practices to promote innovation in the field, training in cybersecurity skillsets, joint cybersecurity exercises with a focus on the protection of critical Information Infrastructure as well as collaboration on regional cyber capacity building and confidence building measures.
Singapore offers to help bankroll China's global ambitions Washington Post 12th Jun 2017
Singapore is offering up its financial industry to help bankroll China’s ambition to develop a network of ports, railways, power plants and other projects across a broad swath of Asia, Europe and east Africa.
Singapore and China to cooperate on trade in sign of improved ties South China Morning Post 12th Jun 2017
Singapore and China have agreed to work together on Beijing’s ambitious global trade initiative, in a sign tensions between the two Asian countries could be easing. Speaking after a one-hour meeting with his Chinese counterpart Wang Yi in Beijing on Monday, Singaporean Foreign Affairs Minister Vivian Balakrishnan said the two countries would strengthen cooperation on the “Belt and Road Initiative”, in particular boosting Chongqing’s transport links to Southeast Asia.
Singapore strengthens economic ties with Myanmar Singapore Business Review 8th Jun 2017
A deal will open doors for Singapore firms to explore opportunities in Myanmar. The International Enterprise Singapore signed a Memorandum of Understanding with the Myanmar Investment Commission (MIC) to strengthen economic ties between the two countries and to open the doors for more Singapore firms to set up shop in Myanmar.
Japan’s big three unveil Ocean Network Express, name Singapore as operating base Seatrade Maritime News 1st Jun 2017
The new joint venture container shipping entity of Japan’s big three carriers will operate under the tradename Ocean Network Express with its holding company based in Japan and an operating company incorporated in Singapore. The three carriers, K Line, MOL and NYK, made a joint announcement on Wednesday updating their joint venture trade name and location of their merged container shipping business.
IE Singapore to offer more overseas workshops to SMEs The Straits Times 6th Jun 2017
IE Singapore has tied up with two new partners to organise more in-market workshops for small and medium-sized enterprises (SMEs), focusing on Southeast Asia, especially Myanmar, Cambodia and Indonesia.
Thailand’s New Army Chief Makes First Singapore Visit The Diplomat 1st Jun 2017
Thailand’s army chief paid his first visit to Singapore this week in a trip that underscored the defense ties between the two Southeast Asian states. Singapore and Thailand have a close defense relationship. Bilaterally, beyond traditional aspects like exchanges, visits and exercises, the Singapore Armed Forces (SAF) has also had an overseas training area in Thailand, one of several arrangements it has with countries including Australia and the United States. The two countries are also involved in multilateral interactions, whether it be established ones like Singapore’s full participation in the Cobra Gold exercises since 2000, or newer manifestations of trilateral cooperation between the two countries and the United States.
National Affairs
New laws on fake news to be introduced next year: Shanmugam Channel NewsAsia 19th Jun 2017
New laws to regulate Singapore’s online space and tackle the spread of fake news are expected to be introduced next year, said Law and Home Affairs Minister K Shanmugam on Monday (Jun 19). Speaking at the start of a two-day forum on news credibility organised by the Straits Times and the World Association of Newspapers and News Publishers (WAN-IFRA), Mr Shanmugam said consultations with stakeholders such as media professionals on the legal framework will be held in the second half of this year. "In some way, (the legislation has) got to achieve working with technological platforms to de-legitimise fake news, to help people identify what is fake news. And then where it is done with malice or for-profit, or deliberately spreading fake news, we have to find ways in which it is dealt with and the people who spread such fake news are also dealt with," said Mr Shanmugam. The Government will also study the experiences of other countries in forming legislation on fake news, he added. One example he cited was the UK, where a parliamentary committee is looking into laws such as whether social networks should be held responsible for inappropriate content including fake news. The minister shared the results of a government poll in May which showed that more than 90 per cent of Singaporeans supported stronger laws to remove or correct fake news.
PM Lee apologises to Singaporeans over dispute with siblings; to answer questions in Parliament on 38 Oxley Road Channel NewsAsia 19th Jun 2017
Prime Minister Lee Hsien Loong issued a statement on Monday (Jun 19), apologising to Singaporeans for the dispute between him and his siblings over the house of their late father, Mr Lee Kuan Yew, at 38 Oxley Road. PM Lee said he deeply regrets that the dispute has affected the country's reputation and Singaporeans’ confidence in the Government, adding that the matter will not distract him and his Cabinet from governing Singapore. The Prime Minister also said that he will make a ministerial statement to refute the allegations, when Parliament sits on Jul 3.
Singaporean PM vows to refute siblings’ allegations he abused power South China Morning Post 19th Jun 2017
Singapore’s Prime Minister Lee Hsien Loong on Monday apologised to citizens for the embarrassment the bitter public feud between him and his siblings had brought to the city state, and vowed to refute their allegations that he abused his executive power. The premier – whose People’s Action Party (PAP) has for decades held a parliamentary supermajority – said he would grant government MPs a free vote when he gives the issue a full airing in the legislature on July 3. Such a move is rare in Singapore. The PAP, in power since 1959, was co-founded by the three siblings’ father Lee Kuan Yew, who is credited with shaping the tiny nation into one of the world’s wealthiest and stable places within a single generation. The three are the children of the Lion City’s revered founding leader Lee Kuan Yew. The patriarch died in March 2015 after a near five decade political career, which he held the premiership for 31 years. The two younger siblings Lee Hsien Yang, 59, and Lee Wei Ling, 62, allege that the premier abused his powers to prevent them from demolishing the family home – one of the patriarch’s final wishes he included in his final will. The abuse of power allegations made by his two siblings have “hurt Singapore’s reputation and Singaporeans’ confidence in the government,” the premier said in a video statement that was aired on the state broadcaster Channel NewsAsia at 7.30pm. “As your prime minister, I apologise to you for this. As the eldest of the siblings, it grieves me to think of the anguish that this would have caused our parents if they were still alive,” Lee said in the statement, in which he appeared sombre. The 65-year-old premier said his ministerial statement in parliament would “refute the charges”.
Feud in Singapore’s first family raises questions of dynastic ambition Financial Times 16th Jun 2017
A highly unusual public dispute between the children of Singapore’s founding father has shone a spotlight on questions of dynastic politics and the future leadership of the wealthy city-state. The row flared up this week when the younger son and daughter of Singapore’s former prime minister Lee Kuan Yew said they had lost confidence in the country’s prime minister, their elder brother Lee Hsien Loong.
ASEAN
Digital economy a priority for Singapore when it takes ASEAN chair in 2018 Channel NewsAsia 19th Jun 2017
Singapore plans to drive e-commerce within the region when it chairs the Association of Southeast Asian Nations (ASEAN) next year. This was highlighted as a priority on Monday (Jun 19) by Senior Minister of State of Trade and Industry Koh Poh Koon at the inaugural Digitize ASEAN Conference organised by the Singapore Business Federation.Dr Koh said that the digital economy in ASEAN could grow to US$200 billion (S$277 billion) over the next 10 years, with e-commerce accounting for US$88 billion. "E-commerce is the new reality for businesses today," said Dr Koh. "Singapore will work with the rest of ASEAN to streamline regional trade rules governing e-commerce to promote greater digital connectivity and lower operating barriers to entry." He added: "This will enhance the regional trade architecture for e-commerce, realise freer movement of e-commerce goods across Southeast Asia and support the regional expansion of companies based in ASEAN." However, there are still some concerns among companies as to how far each country is willing to open up to greater regional trade rules governing e-commerce. Mr Morgan Wee, managing partner at global recruitment firm EMA Partners International, had questions about protectionism among individual countries. “From a collaboration standpoint among all the ASEAN nations, I think it's easy to think about it in a broad brush but when it comes down to table and discussing and getting all countries to agree is a huge hurdle," he said. "(There is) a lot of protectionism in terms of e-wallets, so a question in my mind is - how far can we push this?"
Customs
Singapore Customs revises end-user statement for bulk permit users Asia Customs & Trade 19th Jun 2017
Singapore Customs has released a new version of the End-User Statement (EUS) that will be mandatory for all bulk permit users. The ruling is contained in Circular No 06/2017 dated 14 Jun 2017. The revision was made “given the feedback on the diverse nature of business operations involved in strategic goods and the accompanying uniqueness of each business’s needs” and so they “can better fulfill the requirements of Customs and businesses.”
ICC anti-piracy arm provides input to enhance reform of Singapore Customs Act Asia Customs & Trade 18th Jun 2017
The Singapore Government proposed revisions to the Customs Act for 2017 include provisions that would allow Customs to waive the mandatory submission of shipping manifests for vessels, airplanes or trains arriving in or departing from Singapore. As part of the Public Consultation process, International Chamber of Commerce’s (ICC) Business Action to Stop Counterfeiting and Piracy (BASCAP) submitted comments to flag that the discretionary waiver of the submission of shipping manifests would weaken Singapore’s ability to control the flow of counterfeit goods into the country and prevent the transhipment/transit of counterfeit and pirated goods through Singapore.
The Future of Asia 2017: Japan should invite China to join TPP, Singapore's Goh says Nikkei Asian Review 5th Jun 2017
It is up to Japan and China to drive free trade and economic integration in Asia, and they have to do it "in tandem, not as rivals," Goh Chok Tong, Singapore's former prime minister, said on Monday. On the Trans-Pacific Partnership, specifically, Goh called on Japan to take the lead and open the door for China to eventually join the pact.
Proposed changes to Singapore’s customs regime could aid counterfeiters “looking for enforcement gaps” World Trademark Review 2nd Jun 2017
Time is running out for rights holders to have their say on proposed changes to the Singaporean customs regime. Designed to increase the country’s attractiveness as a transshipment hub, one industry expert has warned that the proposed amendments to the Customs Act could have the opposite effect, and create enforcement gaps that could be exploited by those engaged in counterfeiting and other illicit activities.
Defense & Security
Singapore invited to attend trilateral maritime patrol launch as observer Channel NewsAsia 19th Jun 2017
Singapore will attend the launch of the Trilateral Maritime Patrol (TMP) by Indonesia, Malaysia and the Philippines as an observer, at the invitation of the three member states of the joint patrols, the Ministry of Defence (MINDEF) said on Saturday (Jun 17). Senior Minister of State for Defence Dr Mohamad Maliki Bin Osman will represent Minister of Defence Dr Ng Eng Hen at the ceremony in Tarakan, Indonesia on Jun 19. In its statement, MINDEF said that Singapore the republic is supportive of the littoral states' efforts to enhance regional maritime security and counter-terrorism cooperation under the TMP. MINDEF and the Singapore Armed Forces have offered its Information Fusion Centre (IFC) to assist and facilitate maritime information sharing for the TMP, it added. The IFC has linkages to around 70 operations centres from more than 35 countries, and currently hosts 16 international liaison officers from countries such as Australia, Brunei, China, Indonesia, Malaysia, the Philippines, United Kingdom and the United States, allowing better regional coordination against maritime threats. Besides Singapore, the three member states of the joint patrols also invited Brunei to attend the launch as an observer.
Five countries' defense ministers to discuss ISIS issue Antara News 15th Jun 2017
The defense ministers from Indonesia, Malaysia, Singapore, Brunei Darussalam, and the Philippines will meet on June 19 in Tarakan, North Kalimantan, to discuss the ISIS issue in Marawi, Southern Philippines.
First woman detained for radicalism in Singapore after she planned to join Islamic State Channel NewsAsia 12th Jun 2017
Singapore has detained its first female citizen for radicalism under the Internal Security Act (ISA), said the Ministry of Home Affairs (MHA) on Monday (June 12). Syaikhah Izzah Zahrah Al Ansari, a 22-year-old contract infant-care assistant with the PCF (PAP Community Foundation) Sparkletots preschool programme, was detained in June this year.
Community needs to be wary of Islamic State's 'carefully crafted messages': MUIS Channel NewsAsia 12th Jun 2017
The Islamic Religious Council of Singapore (MUIS) on Monday (Jun 12) called for the community to be "very wary" of the Islamic State's "carefully crafted messages" on social media, adding that a radicalised individual's support structure may not be able to counter them.
Imperative for family members, friends to report suspected radicals: MHA Channel NewsAsia 12th Jun 2017
It is “imperative” for family members and friends to raise to the authorities anyone they suspect of being radicalised or who is planning terror activities, to make Singapore safer in the face of the heightened terrorism threat worldwide, said the Ministry of Home Affairs (MHA) on Monday (June 12).
Radicalised female infant care assistant from PCF Sparkletots detained under ISA for pro-ISIS activities The Straits Times 12th Jun 2017
A 22-year-old Singaporean has become the first woman to be detained under the Internal Security Act (ISA) for radicalism, said the Ministry of Home Affairs (MHA). Syaikhah Izzah Zahrah Al Ansari, who wanted to be a "martyr's widow" for the Islamic State in Iraq and Syria (ISIS), was detained earlier this month.
Singapore must play its part in the war against terror: Ng Eng Hen TODAYonline 6th Jun 2017
SINGAPORE — Singapore has offered its assistance to combat militancy in the Southern Philippines and the Sulu Sea because terrorism cannot be allowed to become entrenched in South-east Asia, said Minister for Defence Ng Eng Hen.
Singapore, United States reaffirm defence ties Channel NewsAsia 3rd Jun 2017
Defence Minister Ng Eng Hen and US Secretary of Defense James Mattis on Saturday (Jun 3) reaffirmed the "excellent and longstanding" defence ties between Singapore and the United States, the Ministry of Defence (MINDEF) said. Meeting over breakfast on the sidelines of the Shangri-La Dialogue – Asia's premier security forum – in Singapore, Dr Ng and Mr Mattis discussed security issues and cooperation to foster regional stability. Both reaffirmed the importance of the 2015 enhanced Defence Cooperation Agreement, which deepened bilateral cooperation in non-conventional security areas such as maritime security, cybersecurity and biosecurity, MINDEF said. They also spoke about the importance of the US’ continued presence in Asia Pacific in ensuring peace and stability, and discussed the threat of extremism and terrorism in Southeast Asia, particularly in the Sulu Sea and the Southern Philippines, the ministry said.
Terrorism threat remains at highest level in Singapore in recent years: MHA report Channel NewsAsia 1st Jun 2017
The terrorism threat to Singapore stands at its highest level in recent years and the country remains a key target of the jihadist Islamic State in Iraq and Syria (ISIS) group, said the Ministry of Home Affairs (MHA) in a report issued on Thursday (Jun 1).
Economics
Singapore exports down 1.2% in May, second straight month of decline Channel NewsAsia 16th Jun 2017
SINGAPORE: Non-oil domestic exports (NODX) in Singapore fell by 1.2 per cent in May over the same time last year, according to statistics released by trade agency International Enterprise (IE) Singapore on Friday (Jun 16), continuing its slide from the previous month.
Chart of the Day: Household spending to jump 44.7% in 2021 Singapore Business Review 12th Jun 2017
It will grow at an average rate of 8.3%. This chart from BMI Research shows how household spending will grow in the next five years.
Could Singapore's economy be on a downturn again? Singapore Business Review 12th Jun 2017
The current quarter may be impacted by a low base on imports. Singapore's economic outlook for this current quarter is on the downside after the soft patch in Q1. According to a report from Deutsche Bank, economic growth could again decline due because of a low base on imports.
3 key areas affluent households will spend on Singapore Business Review 9th Jun 2017
These will account for almost 40% of their spending by 2021. Singapore's affluent middle class supports high spending on non-essential goods and services such as personal, insurance & other, recreation and culture, and restaurants and hotels, according to BMI Research.
Singapore’s economic rebound not as good as it seems Today Online 9th Jun 2017
Singapore's economy may be picking up, but consumers aren't feeling it. After two years of below-par growth, economists and even the government are becoming more positive on the outlook. While it's not boom time yet, the consensus is that 2017 growth will come in higher than last year's 2 per cent. A large part of that is down to exports: Singapore, like other trade-reliant nations in Asia, is benefiting from a recovery in global growth, which is translating into rising sales of electronic goods.
Here's what will support Singapore banks' profitability Singapore Business Review 1st Jun 2017
Higher interest rates as a result of US monetary policy tightening is one. The outlook of Moody's Investors Service for Singapore banks is stable, reflecting an improvement in growth conditions and stabilising commodity prices that will limit a further weakening in asset quality and profitability.
Singapore To Sign The Multilateral Convention To Implement Tax Treaty Related Measures To Prevent Base Erosion And Profit Shifting - IRAS Inland Revenue Authority of Singapore 14th Jun 2017
Singapore will sign the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“the Multilateral Instrument”) on 7 June 2017. The Multilateral Instrument will be signed in Paris by Ms Sim Ann, Senior Minister of State, Ministry of Culture, Community and Youth, and Trade and Industry. This will be the first signing ceremony for the Multilateral Instrument, with over 60 jurisdictions signing the Multilateral Instrument.
Energy
Singapore-based Equis mulls over selling India portfolio Asian Power 16th Jun 2017
Sources say Energon and Energon Soleq to be on sale. DealStreetAsia reported that Singapore-based renewable energy developer Equis Energy wants to sell its entire India portfolio, comprising green energy platforms Energon and Energon Soleq, two people aware of the development said.
S'pore's energy solutions on show at Expo 2017 The Straits Times 11th Jun 2017
A specially choreographed dance about the process of metamorphosis and its transformative power encapsulated Singapore's efforts to develop effective energy solutions at the country's Expo 2017 pavilion. It was opened yesterday by Speaker of Parliament Halimah Yacob, who is in Astana, the capital city of Kazakhstan, for the event. Themed Small City, Big Ideas, the pavilion showcases the innovative solutions in sustainable energy that Singapore has adapted to its local circumstances, such as zero-energy buildings and floating solar panels for use in our reservoirs.
Singapore unveils sustainability plan for public sector Singapore Business Review 6th Jun 2017
The plan eyes a 15% cut in electricity consumption by 2020. Singapore's public sector launched an action plan to conserve resources and embark on green initiatives with the inaugural Public Sector Sustainability Plan 2017-2020.
Here's why it's likely for Noble to commence refinancing this month Singapore Business Review 1st Jun 2017
Banks should have enough collateral to back the embattled group. Whilst some have doubts over Noble's ability to secure sufficient credit facilities, DBS Group Research reckons that the beleaguered group will be able to refinance its upcoming borrowing base facility in June.
Financial Services
Singapore: Pilot done on 1st multinational cover using blockchain Asia Insurance Review 19th Jun 2017
American International Group, IBM and Standard Chartered Bank have successfully piloted the first multinational, "smart contract" based insurance policy using blockchain, a distributed ledger technology. The policy covers Singapore, Kenya and the US. The blockchain solution creates a new level of trust and transparency in the underwriting process, enabling AIG and Standard Chartered to execute multinational coverage more efficiently.
SGX, A*STAR to help firms access capital markets Singapore Business Review 19th Jun 2017
They inked a two-year deal. Singapore Exchange and Agency for Science, Technology and Research (A*STAR)'s ETPL will be teaming up to help start-ups and small and medium-sized enterprises (SMEs) tap on innovative technologies and capital more efficiently.
MAS Proposes Regulations for Provision of Digital Advisory Services Baker McKenzie 14th Jun 2017
Recognising the growth of digital advisory services (also known as robo-advisory services) and its differences from conventional financial advisory services, on 7 June 2017, the Monetary Authority of Singapore (MAS) issued a Consultation Paper on the Provision of Digital Advisory Services. In the Consultation Paper, the MAS sets out the licensing and regulatory framework applicable to digital advisers, proposes further legislative amendments to facilitate the provision of digital advisory services in Singapore, and sets out its expectations on how the unique characteristics and risks of digital advisory services should be addressed.
SGX and IMDA to help accredited companies in Singapore be IPO-ready GCIO.Asia 14th Jun 2017
The Singapore Exchange (SGX) and Infocomm Media Development Authority (IMDA) have signed a memorandum of intent (MOI) to help IMDA-accredited companies better prepare for initial public offering (IPO).
Singtel, Telkomsel launch real-time mobile remittance service Singapore Business Review 5th Jun 2017
It will allow customers to send money to cash-out points in Indonesia. Singtel and Telkomsel launched a real-time mobile remittance service for Indonesia. Offered by SingCash under the Singtel Dash brand, this service allows customers in Singapore to send money to PT Pos Indonesia’s 4,500 cash-out points across the country via Weselpos Instan. This is an enhancement to the current facility that lets customers send money to Indonesian bank accounts.
Singapore’s Central Bank Concludes Distributed Ledger Trial ETHNews.com 1st Jun 2017
The Republic of Singapore’s central bank and financial regulatory authority, the Monetary Authority of Singapore (MAS), has released its findings from Project Ubin, a distributed ledger technology (DLT) trial “which places a tokenized form of the Singapore Dollar (SGD) on a DLT.” The post-trial analysis by MAS details its effort to understand the monetary policy and legal ramifications of implementing digitized SGDs into the countries real time gross settlement (RTGS) platform called the MAS Electronic Payments System (MEPS+).
Singapore fintech firm launches 'first digital platform' for trade finance assets The Business Times 1st Jun 2017
An MAS-backed fintech firm, CCRManager Pte Ltd, on Tuesday launched what it says is the first digital platform for the distribution of international trade financing, transactions now handled mainly by phone and email. CCRManager Pte Ltd, which received a grant from the Monetary Authority of Singapore's Financial Sector Development Fund, is supported by 16 financial institutions, including Bank of China, DBS Bank, Standard Chartered Bank, Mitsubishi UFJ Financial Group, Spain's BBVA and the commercial insurance arm of Swiss Re.
Singapore medical technology startups target overseas growth- Nikkei Asian Review 1st Jun 2017
A medical technology cluster is developing in Singapore, with a collection of startups creating products that could help advance patient care. While the medical technology field in Singapore is relatively new, there is no lack of innovation in the sector, from the world's first portable kidney dialysis machine to a robotic surgical arm that can be operated like a console game.
Health & Life Sciences
Keeping healthcare sector on its toes The Straits Times 20th Jun 2017
There is a persuasive case for developing Singapore into a healthcare services hub in Asia, as outlined by economic committees in the past. Going by any SWOT analysis - to audit its strengths, weaknesses, opportunities and threats - the city-state has what it takes to lead in offering one of the most efficient healthcare systems anywhere, and in delivering good healthcare outcomes. Of course, that means that all parts of the system must excel. For example, Singapore's blood supply ranks among the safest in the world.
Most open to using tech in healthcare The New Paper 15th Jun 2017
According to findings by Dutch technology company Philips, only 29 per cent of Singaporeans said they were knowledgeable about such "connected care technology" such as home health-monitoring devices, fitness trackers and wearables, and mobile health applications.
Many keen to take control of health with tech devices The Straits Times 15th Jun 2017
The majority of Singaporeans may be unfamiliar with technology that can help them monitor and take control of their health, but they are equally open to using it.
The ‘silver hair' market could boost Singapore healthcare sector Singapore Business Review 12th Jun 2017
By 2030, citizens aged 65 and over will double to 900,000. It would seem like the healthcare sector of Singapore will be getting a boost from the ‘silver hair’ market in the coming years.
Health IT Master Plan 2021: Singapore on track to having one of the most IT-enabled healthcare systems globally MIMS News 12th Jun 2017
As part of Singapore's vision on how information technology (IT) can be harnesses in various ways for healthcare in the future, robotic aid for patient care is set to be implemented in hospitals soon, said Health Minister Gan Kim Yong.
Caring for an ageing society: How to ensure Singapore has enough nurses Channel NewsAsia 12th Jun 2017
The clock is ticking for Singapore’s healthcare sector to ensure it has enough staff to cope with the country’s ageing population.
Ageing population prompts surge in demand for blood The Straits Times 10th Jun 2017
Demand for blood to meet the medical needs of a growing and greying population have intensified over the last five years.
New Zika cases in S'pore: Health Ministry to tighten health screening at entry points NST Online 10th Jun 2017
BALIK PULAU: The Health Ministry (MOH) will tighten health screenings at all entry points following reports of new Zika cases in Singapore.
New Zika cluster reported at Parry Avenue Channel NewsAsia 9th Jun 2017
Two cases of locally transmitted Zika have been confirmed at Parry Avenue at the Serangoon Garden area, the National Environment Agency announced on Friday (Jun 9). Both cases are residents in the vicinity. NEA has commenced operations to destroy mosquito breeding spots at the cluster area.
Singapore's medical tourism threatened by Malaysia, Indonesia Singapore Business Review 9th Jun 2017
Malaysia's HMI offers quality treatment at relatively lower cost. Findings by AB Bernstein and Global Health and Travel noted Singapore as one of the top destinations in the region for medical tourism.
Private healthcare sector in the pink The Straits Times 8th Jun 2017
Singapore's private healthcare industry faces challenges here but expansion overseas holds the promise of a healthier future, said Maybank Kim Eng.
Singapore's National Cancer Centre to quadruple capacity by 2022 Enterprise Innovation | Asia's Premier Business and Technology Publication 8th Jun 2017
Minister for Health Gan Kim Yong officiated at the groundbreaking ceremony for the National Cancer Centre Singapore (NCCS) new building at SGH Campus today.
Specialist skin consultation available at polyclinics with e-consult service The Straits Times 7th Jun 2017
SINGAPORE - Getting his rashes treated in a day at Hougang Polyclinic last week saved Mr Ron Chua "a lot of time and effort". Instead of having to make a separate trip to the National Skin Centre (NSC) after being referred there by the polyclinic doctor, the 23-year-old university student received a consultation from a dermatologist at the skin centre over the Internet at the polyclinic itself .
Medical tourism weakness in Singapore could be temporary: Maybank The Edge Markets 6th Jun 2017
In a Monday report, analyst John Cheong says he finds the shares of RMG undervalued as it is trading at 32 times FY17 P/E — with its current stock price largely reflecting solely the Singapore operations, without fully accounting for its new hospitals in China.
The Facebook-enabled workplace in healthcare and government Enterprise Innovation | Asia's Premier Business and Technology Publication 6th Jun 2017
Agility, flexibility, adaptability, productivity, efficiency – these are ideals that all businesses strive for. Propelling them is one key driver: collaboration within the organization.
One BioMed and A*STAR’s Genome Institute of Singapore establish joint lab Enterprise Innovation | Asia's Premier Business and Technology Publication 6th Jun 2017
Local diagnostics company One BioMed Pte Ltd and A*STAR’s Genome Institute of Singapore (GIS) have established a joint laboratory to develop molecular diagnostic assays for the Asian clinical infectious disease testing market.
Singapore tops for medical tourism, but rivals catching up quickly The Straits Times 6th Jun 2017
Singapore may still be among the region's top dogs when it comes to medical tourism, but its neighbours are swiftly closing the gap. Lower costs and the growing availability of quality care in neighbouring countries will not only lure medical tourists away from Singapore, but could also encourage patients to stay home for treatment, said experts.
ICT
Singapore and Australia agree to boost cybersecurity cooperation Channel NewsAsia 2nd Jun 2017
Australia and Singapore have agreed to strengthen cybersecurity cooperation, with a two-year Memorandum of Understanding (MOU) signed on Friday (Jun 2).
SMEs urged to transform their businesses to ride on digital wave TODAYonline 19th Jun 2017
With the growth of the digital economy potentially adding US$1 trillion (S$1.4 trillion) to the gross domestic product (GDP) of the Association of Southeast Nations (Asean) by 2025, experts said it is important that small and medium enterprises (SMEs) in the region transform their businesses to ride on this burgeoning trend.
Singapore slips to 7th in Global Innovation Index 2017 Singapore Business Review 16th Jun 2017
But it still dominated Asia. Singapore has taken a step back in terms of innovation capabilities and outcomes as it ranked seventh in the Global Innovation Index 2017.
Google unveils Cloud Platform Region in Singapore Singapore Business Review 16th Jun 2017
This is a first in Southeast Asia. Google opens its first Southeast Asia cloud platform in Singapore to improve latency of Google Cloud Platform customers and end users.
Google Cloud lands in Singapore as cloud computing market booms Tech in Asia 15th Jun 2017
Google today launched its first Google Cloud servers in Singapore. This makes the Lion City home of the first Google Cloud Platform in Southeast Asia and the third in Asia, after Taiwan and Japan. While Google Cloud already has customers in Southeast Asia, this means they will have easier and faster access to the company’s online infrastructure, tools, and data storage. Chief of Google Cloud Diane Greene told a roomful of journalists at Google’s Asia-Pacific headquarters that the Singapore-based platform will result in 50 to 80 percent lower latency for customers in Singapore, Kuala Lumpur, Jakarta, and Bangkok.
Jack Ma Said to Explore Joining $1.5 Billion Grab Fundraising Bloomberg Technology 15th Jun 2017
Alibaba co-founder Jack Ma may team up with SoftBank Group Corp.’s Masayoshi Son in a $1.5 billion investment in ride-hailing startup Grab, according to people familiar with the matter. The investment would be part of Grab’s previously reported $1.5 billion fundraising, led by SoftBank and aimed at giving the Singaporean startup cash to battle Uber Technologies Inc. in Southeast Asia, said the people, asking not to be named because the matter is private. Didi Chuxing, the largest ride-hailing company in China and a Grab backer already, is also considering participating in the round, they said.
Great Singapore Sale kicks off with launch of new GoSpree mobile app The Straits Times 9th Jun 2017
The Great Singapore Sale (GSS) is officially on, with the addition of a mobile app this year to connect shoppers with the best deals. Some 100 retailers, food and beverage operators, hotels and attractions are offering 47,000 eCoupons on the GoSpree app, an initiative of the Singapore Retailers Association (SRA).
Great Singapore Sale goes digital amid changing retail landscape Today Online 9th Jun 2017
The Great Singapore Sale (GSS) is going digital to reach out to younger shoppers and tech-savvy consumers. At the official launch of the annual event’s 24th edition in Orchard Road on Friday (June 9), the Singapore Retailers Association (SRA) unveiled the specially commissioned GoSpree mobile app which links to exclusive shopping bargains and deals from over 100 brands and a wide range of retailers and dining outlets.
Asia-Pacific upgrading internet connectivity- Nikkei Asian Review 6th Jun 2017
Asia-Pacific already boasts some of the fastest internet connectivity in the world and continues to improve as its economies digitize, according to a report by Akamai, a U.S.-based content delivery network and cloud provider.
4 factors that can push Singapore to be a frontrunner in 5G rollout Singapore Business Review 5th Jun 2017
The city-state's telco players are already on the move. Singapore's favourable regulatory environment can pave way for it to be a leading player in 5G implementation.
Singapore tops global ranking for online presence Singapore Business Review 5th Jun 2017
It ranked sixth in AT Kearney’s Global Cities Index 2017. This year's A.T. Kearney’s Global Cities Index 2017 saw Singapore jumping two spots to rank sixth, the highest ever ranking it has achieved in the Index.
IMDA to provide 900 low-income households with free broadband Singapore Business Review 5th Jun 2017
This is in collaboration with Lions Befrienders and POSB. As part of the Infocomm Media Development Authority’s efforts to empower the vulnerable segments with access to technology, i will be providing 900 pre-qualified low-income households the opportunity to sign up for home broadband and tablets for free.
Singapore's average peak internet connection speed fastest globally Singapore Business Review 1st Jun 2017
Peak speed of 184.5 Mbps is recorded in Singapore in Q1. When it comes to peak connection speeds in the past quarter, Singapore still has the fastest across the globe. This is based on the latest Akamai State of the Internet report for Q1. According to the study, South Korea had the highest average connection speed globally at 28.6 Mbps in the first quarter.
SGX inks MOI with IMDA to lower access barriers for tech companies into the capital markets Digital News Asia 1st Jun 2017
SINGAPORE Exchange (SGX) and Infocomm Media Development Authority (IMDA) signed a memorandum of intent (MOI) to create a streamlined pathway for fast growing IMDA-accredited companies to leverage private and public capital markets in Singapore more efficiently for expansion.
Manufacturing
Is the manufacturing rally coming to an end? Singapore Business Review 19th Jun 2017
DBS' Singapore economists are saying so. According to analysts from DBS Group Research, there are growing signs that the manufacturing rally could be coming to an end.
Singapore's largest bus maker to build $30m facility in Myanmar Singapore Business Review 16th Jun 2017
Production in the 16,000-sqm facility will begin in Q4 2018. SC Auto announced its plans to set up a $30m facility in Yangon, Myanmar with the help of International Enterprise (IE) Singapore's facilitation.
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