| Regional Affairs
Donald Trump accepts PM Lee's invitation to visit Singapore next year Channel NewsAsia 24th Oct 2017
United States President Donald Trump has accepted Prime Minister Lee Hsien Loong's invitation to visit Singapore next year, the Prime Minister's Office said in a statement on Monday (Oct 23). Mr Lee is currently on an official working visit to Washington, DC at the invitation of Mr Trump. Mr Trump hosted Mr Lee to a working luncheon together with cabinet secretaries and key White House officials, after witnessing the signing of a Singapore Airlines-Boeing deal worth US$14 billion. Mr Lee also met with US Secretary of the Treasury Steve Mnuchin, during which the two reaffirmed the "strong and mutually beneficial trade and investment linkages" between Singapore and the US and the importance of continued US economic engagement of the Asia-Pacific, said PMO.
Singapore and the US reaffirm ‘robust partnership’ with aircraft deal, closer security cooperation Channel NewsAsia 24th Oct 2017
Prime Minister Lee Hsien Loong and President Donald Trump on Monday (Oct 23) took US-Singapore relations forward in witnessing the signing of a deal for Singapore Airlines (SIA) to purchase 39 Boeing aircraft worth close to US$14 billion.Calling it a win-win for both sides, Mr Lee said the deal would further modernise SIA’s fleet and support American jobs. Speaking at a joint news conference with Mr Trump after their bilateral meeting at the Oval Office, Mr Lee described the US-Singapore relationship as “deep and wide”, with substantial cooperation in the areas of economic, defence and security.To strengthen security cooperation, Mr Lee said Singapore will extend to 2018 its support to the US-led coalition to defeat Islamic State.Singapore, as the only Asian country to have contributed both military assets and personnel, has lent “early and consistent” support to the coalition, said Mr Lee. On the economic front, the Prime Minister noted the US is an important partner for many countries in Asia, just as Asia as whole is an important economic partner for the US.
US stance towards Asia will determine not just prosperity, but war and peace: PM Lee Channel NewsAsia 24th Oct 2017
There is great scope for US businesses to grow new markets, make fresh investments and create prosperity on both sides of the Pacific but key to this, is the US attitude, said Prime Minister Lee Hsien Loong on Monday (Oct 23) during his official working visit in Washington DC.Speaking at the Economic Club of Washington DC, Mr Lee said whether the US still believes that it has the most to gain from an interdependent world, open exchanges and multilateral rules and how US-China relations develop will determine not just prosperity, but war and peace, not just in Asia, but the world.He said the Trans-Pacific Partnership (TPP) was one way to deepen economic cooperation in the Asia Pacific, and to achieve a strategic objective. While the US’ withdrawal is disappointing, the remaining TPP countries hope the US will continue to maintain and enhance its economic ties with Asian countries in other ways. He said the US must continue to adopt a policy of sustained economic engagement of the region as Asia has abundant opportunities for US businesses.
PM Lee to visit Washington from Oct 22 to 26 Channel NewsAsia 12th Oct 2017
Prime Minister Lee Hsien Loong will make an official working visit to Washington, DC from Oct 22 to 26 at the invitation of US President Donald Trump, the Ministry of Foreign Affairs (MFA) confirmed on Thursday (Oct 12). "In addition to President Trump, PM Lee will be meeting key administration officials as well as members of the Congressional leadership," an MFA spokesperson said. Mr Lee will also take part in a moderated dialogue at the Council of Foreign Relations and speak at the Economic Club of Washington DC. A White House press statement released on Tuesday said Mr Lee will meet Mr Trump on Oct 23. "President Trump looks forward to reaffirming the relationship between the United States and Singapore, which has been one of America's closest partners in Asia for more than 50 years," the White House press secretary said in the statement.
Singapore sends tents and other supplies to refugees in Bangladesh TODAYonline 10th Oct 2017
The Republic’s first batch of humanitarian supplies including tents, blankets, food and medical items worth about S$270,000 has arrived for Rohingya refugees in Bangladesh. A Republic of Singapore Air Force KC-135R aircraft transporting the supplies flew off at 8am to Chittagong, Bangladesh, on Tuesday (Oct 10). Aid group Mercy Relief is working with local partners in Bangladesh to distribute the aid, it said in a statement. Senior Minister of State for Defence and Foreign Affairs Mohamad Maliki Osman witnessed the handover of supplies to the local authority in Chittagong, and a second delivery is slated for Wednesday.
Singapore, Brunei agree to cooperate in air and marine accident investigations Gov.sg 20th Oct 2017
Both sides will work together to share investigation facilities, equipment, resources, experience and training opportunities relating to aircraft and marine accident and incident investigations.
Cambodia, Singapore ink MoU on political consultations Xinhua 17th Oct 2017
Cambodia and Singapore on Tuesday signed a Memorandum of Understanding (MoU) for the establishment of a political consultation mechanism in order to strengthen bilateral ties and cooperation. The deal was inked in Phnom Penh by Cambodian Foreign Minister Prak Sokhonn and his visiting Singapore counterpart Vivian Balakrishnan. "Under the MoU, the two foreign ministries will hold political consultations to further enhance bilateral cooperation in all fields and to exchange views on regional and international issues," Chum Sounry, a spokesman for the Cambodian Ministry of Foreign Affairs, told reporters.
Customs
Turkey-Singapore FTA enters into force 1 October 2017 Lexology 18th Sep 2017
The Turkey-Singapore Free Trade Agreement (TRSFTA) will enter into force on 1 October 2017. The TRSFTA consists of 18 numbered chapters and a separate Rules of Origin Protocol with annexes. With respect to goods, tariff preferences and duty rates are set forth in Chapter 2 and Annex 2-A. For entry into force, the following items originating from Turkey are eligible for preferential treatment tariff when imported from Turkey into Singapore under the TRSFTA: stout/porter, beer including ale, medicated samsu or other samsu (under the HS codes 22030010, 22030090, 22089010, 22089020, 22089030 and 22089040). The Customs duties for all other goods imported from Turkey into Singapore are already zero. Many Singapore originating goods will have phased in preference rates when imported into Turkey.
HMRC hires Singapore team to advise on ‘blue-sky’ customs upgrade Civil Service World 15th Sep 2017
The team that created a “one-stop-shop” system to streamline Singapore’s international trade arrangements has been hired by HM Revenue & Customs to advise on the potential to introduce a similar post-Brexit system for the UK. HMRC chief executive Jon Thompson said the creation of a “single window” for all import and export related interaction with government departments and agencies was a piece of “blue-sky thinking” the tax-collection agency was currently exploring as part of the Brexit process. Talking to MPs on the Treasury Select Committee yesterday, Thompson said that the department had looked at a range of different countries’ relationships with the EU and other nations as part of its exploration of the UK’s future relationship with the EU.
Defense & Security
Singapore military training exercises in Taiwan will continue Yahoo News 5th Oct 2017
Singapore has reportedly assured Taiwan that a decades-long military agreement between both sides will remain, according to a South China Morning Post (SCMP) report. “[Singapore said] everything would be the same as usual,” said Taiwan’s Foreign Minister David Lee in response to a question during a legislative session on Monday (2 October).
Singapore Launches Fifth New Warship The Diplomat 25th Sep 2017
This week, Singapore held the launching ceremony for another one of its locally-built and designed warships. The ceremony, which occurs as the city-state’s navy commemorates its 50th anniversary, marks another step in its continued defense modernization.
U.S., China Open to Sea Drills With Asean, Singapore Says Bloomberg.com 24th Oct 2017
The U.S. and China are open to joining separate maritime drills with Southeast Asian nations, Singapore Defense Minister Ng Eng Hen said. Speaking on the sidelines of the Association of Southeast Asian Nations defense ministers meeting in the Philippines, Ng said Tuesday that China Defense Minister Chang Wanquan and U.S. Defense Secretary James Mattis both welcomed the chance to participate. He spoke after meeting separately with Chang and Mattis. Singapore, which has long sought to balance the interests of the U.S. and China in the region, expects to be at the forefront of Southeast Asia’s ties with both countries next year when it takes over from the Philippines as chair of Asean. Singapore’s Prime Minister Lee Hsien Loong warned in March his island nation risked being “coerced” into choosing between the two. Ng said his Chinese counterpart hoped to “turn a new page” by conducting maritime exercises with the region. Beijing’s South China Sea assertions overlap with the territorial claims of Malaysia, the Philippines, Vietnam and Brunei. China wants the drills to happen as soon as next year, Ng added.
Historic Indonesia-Singapore Maritime Boundary Pact Goes to UN The Diplomat 28th Sep 2017
This week, Indonesia and Singapore jointly submitted a new maritime boundary pact agreed by both sides to the United Nations. Though the development was a logical next step for the two parties following progress achieved beforehand, it was nonetheless significant within the context of the management of a challenging bilateral relationship that is commemorating a major anniversary this year.
Beijing wants 'even more mature military relationship' with Singapore, says China's Defence Ministry TODAYonline 28th Sep 2017
China wants to improve its military relationship with Singapore, but is resolutely opposed to any country having defense ties with self-ruled Taiwan, China’s Defence Ministry said on Thursday (Sept 28). China is suspicious of the Republic's military relations both with the United States and Taiwan. Singaporean troops train in Taiwan, despite a lack of formal diplomatic relations between the two. Last November, Hong Kong port authorities impounded nine Singaporean armored military vehicles being shipped home from training grounds in Taiwan, leading to tensions between Singapore and China. Hong Kong later released the vehicles.
Singapore will step up use of technology, data analytics to fight transnational crime and money laundering: Teo Chee Hean The Straits Times 28th Sep 2017
Singapore will increasingly harness technology and data analytics to tackle transnational crime and money laundering, Deputy Prime Minister and Coordinating Minister for National Security Teo Chee Hean said on Thursday (Sept 28).
Economics
Singapore Needs to Be on Guard for an Inflation Lift, Central Bank Chief Says Bloomberg.com 24th Oct 2017
Singapore’s central bank chief said while inflation is still well below the historical average, policy makers need to be proactive if a stronger economy results in a pickup in price pressures. Inflation will climb at some point if economic growth continues to strengthen, and under those circumstances, the central bank -- like others around the world -- needs to be forward-looking, Ravi Menon, managing director of the Monetary Authority of Singapore, said in an interview at the bank’s headquarters in the city on Tuesday. After easing three times between January 2015 and April last year, the MAS -- which uses the exchange rate as its main policy tool rather than interest rates -- has stuck to a neutral currency stance in the face of subdued inflation pressure.
MAS core inflation up to 1.5% in September Singapore Business Review 23rd Oct 2017
The prices for services rose. The Monetary Authority of Singapore's (MAS) core inflation, which excludes prices of accommodation and road transport, rose from 1.4% in August to 1.5% in September. Meanwhile, the consumer price index (CPI) remained the same at 0.4%. According to the Ministry of Trade and Industry Singapore (MTI), services inflation rose to 1.5% from 1.4% last month, due to the rise of telco services fees. This offset a smaller rise in holiday expenses and a larger decline in airfares. Meanwhile, private road transport inflation fell to 2.1% from 2.6%, reflecting cheaper car prices. Food inflation stayed the same at 1.2% as the prices of non-cooked food and prepared meals rose at a similar pace in August and September. Accommodation costs slipped by 3.9% amidst cheaper prices in the housing rental market.
Economic growth for this year expected to be close to 3%, says PM Lee TODAYonline 23rd Oct 2017
Singapore’s economy is doing well this year and growth is expected to be at the “upper end” of the 2 to 3 per cent range, said Prime Minister Lee Hsien Loong, while stressing the need for the Republic to push ahead with industry transformation. “The third quarter (economic growth) results look good and I hope it will continue,” said PM Lee during a reception attended by over 250 Singaporeans at the embassy in Washington, DC on Sunday (Oct 22). The Republic’s economy expanded 4.6 per cent in the third quarter from a year ago, according to advance estimates released by the Ministry of Trade and Industry (MTI) earlier this month. PM Lee noted that the manufacturing and services sectors have been performing well this year.
Singapore's tax incentives meet international standards: OECD The Straits Times 16th Oct 2017
An international body has said that Singapore's tax incentives meet the international standards on countering corporate tax avoidance. The Forum on Harmful Tax Practices (FHTP) said in a report on Monday (Oct 16) that it had reviewed 164 countries in total, finding that governments have dismantled, or are in the process of amending, nearly 100 preferential tax regimes as part of international efforts to improve the international tax framework.
Energy
New National Energy Transformation Office to coordinate energy efforts TODAYonline 25th Oct 2017
A new National Energy Transformation Office has been set up to plan and coordinate energy research and development, as well as policies for the adoption of game-changing energy solutions. The office will look at ways to improve industrial energy efficiency and deployment of solar energy, for instance. It will work with the National Environment Agency, Singapore Economic Development Board, Land Transport Authority and Building and Construction Authority, among other agencies. Heading the office is Mr Toh Wee Khiang, who was the programme director for a low-carbon district project at the Energy Research Institute at Nanyang Technological University (ERI@N). He was previously in the public service for 20 years.
‘No evidence’ carbon tax drives companies away TODAYonline 25th Oct 2017
Despite concerns repeatedly voiced that a carbon tax could dent competitiveness, there is no evidence it has led any company to move out of a country, said a panellist at a Singapore International Energy Week discussion on Wednesday (Oct 25). Forty-seven countries and states today have some form of carbon pricing, such as a carbon tax or an emissions trading scheme. Prices range from US$1 to US$140 per tonne of emissions, noted World Bank senior carbon finance specialist Wang Xueman. Asked at a panel discussion on carbon tax if Singapore’s decision to impose a carbon tax from 2019 – announced earlier this year – could hurt its competitiveness, Ms Wang said: “Currently, if you look at all the evidence, the industry does not move away because there is carbon pricing. They move away because of many other… considerations.” Singapore is looking to charge large emitters such as power stations between S$10 and S$20 per tonne of greenhouse gases emitted. If passed on to households, electricity prices could increase by 0.43 to 0.86 cents per kilowatt hour, a fraction of current tariff rates -- although observers cautioned there should not be a disproportionate impact on the poor.
Singapore bags 6 clean energy investments, creating 400 professional jobs Channel NewsAsia 24th Oct 2017
A wave of clean energy investments in Singapore is set to create 400 professional jobs and generate S$500 million in business spending over the next five years, the Singapore Economic Development Board (EDB) said on Tuesday (Oct 24). Six clean energy investments across the fields of solar, wind, microgrids and energy management in Singapore were secured by EDB in recent months, helping Singapore in its bid to be positioned as Asia’s leading clean technology (cleantech) hub, EDB said. The investments were announced at the Asia Clean Energy Summit (ACES), which will be held in Singapore from Oct 24 to Oct 26. VDE, a leading quality assurance provider headquartered in Germany, is investing S$20 million to set up a major energy storage testing and certification lab here to serve the Asian region. The lab in Singapore will also be the first in the world to provide bankability and insurability services for energy storage solutions at the system level, plugging a critical gap in the existing global energy landscape. These investments come as Singapore aims to play a meaningful role in a global transition towards clean energy, said Senior Minister of State for Trade and Industry Koh Poh Koon, who was speaking at the summit on Tuesday.
Slew of measures to support uptake of solar energy announced at SIEW TODAYonline 23rd Oct 2017
Singapore will boost its ability to forecast solar energy output through a S$6.2 million research grant awarded to a consortium led by the National University of Singapore, one of a slew of solar-related initiatives announced on Monday (Oct 23). The consortium will work with the Energy Market Authority (EMA) and the Meteorological Service Singapore to develop a forecasting model. The model would help to improve management of the fluctuations in solar output to ensure grid reliability, said Senior Minister of State for Trade and Industry Sim Ann at the opening of the Singapore International Energy Week. Singapore’s deployment of solar energy could reach 350 megawatt-peak (MWp) by 2020, and more than one gigawatt-peak after that, which would represent about 15 per cent of electrical power demand at peak during the day, Deputy Prime Minister Teo Chee Hean had said in June. The EMA also announced on Monday parties that produce less than 10 MW of solar energy will be able to sell excess electricity back to the main grid – up from the previous cap of below 1 MW under the Central Intermediary Scheme. And by 2023, Singapore will test its first urban micro-grid at the Singapore Institute of Technology’s (SIT) future campus in Punggol.
Financial Services
Singapore Won't Regulate Cryptocurrencies, Central Bank Chief Says Bloomberg.com 24th Oct 2017
Singapore doesn’t plan to regulate cryptocurrencies such as bitcoin, but will remain alert to money laundering and other potential risks stemming from their use, the head of the country’s central bank said. “As of now I see no basis for wanting to regulate cryptocurrencies,” Monetary Authority of Singapore Managing Director Ravi Menon said in an interview with Bloomberg News. Rather, the central bank’s focus is to “look at the activities surrounding the cryptocurrency and asking ourselves what kinds of risks they pose, which risks would require a regulatory response, and then proceed from there,” Menon added. Singapore already requires virtual-currency intermediaries such as exchange operators to comply with requirements to combat money laundering and terrorism financing, Menon noted in the Bloomberg News interview. “This will be formalized in the coming payment services regulation which we are working on,” Menon said.
MAS, ABS develop blockchain tech for inter-bank payments Singapore Business Review 6th Oct 2017
It will net payments whilst preserving transactional privacy. A consortium by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) has developed prototypes of models for decentralised inter-bank payments. According to a press release, the project was conducted with 11 financial institutions and five technology companies to explore blockchain technology as a way to clear and settle payments and securities. The three software models will implement decentralised netting of payments whilst preserving transactional privacy. A report on the findings will be released at the Singapore FinTech Festival on 13 to 17 November.
Singapore, Thailand discuss e-payment alliance for digital push The Straits Times 5th Oct 2017
Singapore and Thailand are in discussions about connecting their national digital payment systems to forge an unprecedented regional alliance, as officials step up efforts to curb the use of cash. The link would bring together Southeast Asia's first national digital-payment platforms, Singapore's PayNow and Thailand's PromptPay, said Naphongthawat Phothikit, director of payment systems policy at the Bank of Thailand.
Singapore Tests Blockchain Payments for 19,000 Unbanked Migrants Cointelegraph 4th Oct 2017
A Singapore bank has signed an agreement which will see Blockchain payments help up to 19,000 migrants transact without banking access. As local news outlet Business Times reports Wednesday, Maybank Singapore will leverage native startup InfoCorp Technologies’ CrossPay network to allow migrants in a giant dormitory to pay for purchases digitally. CrossPay uses Blockchain for storing consumer identities and includes a private platform for making payments. At the other end, Maybank will settle the final amount with dormitory operator TS Group.
Singapore government mulls laws on e-payment fees ZDNet 4th Oct 2017
The Singapore government may be eager to drive e-payment adoption in the country, but it appears to want to do so through encouraging market competition, instead of introducing legislation to bring down surcharges for e-payments. Deputy Prime Minister Tharman Shanmugaratnam, who also was Minister-in-Charge of the Monetary Authority of Singapore (MAS), said the government was assessing the impact of laws regulating e-payment fees in other countries. across the region.
Singapore Regulator, Banks Complete KYC Blockchain Prototype CryptoCoinsNews 4th Oct 2017
A consortium comprising of a Singaporean government body and a number of major banks has completed the ASEAN region’s first-ever proof-of-concept for a Know Your Customer (KYC) blockchain. The Infocomm Media Development Authority of Singapore (IMDA), the country’s information communications and media regulator, has collaborated with a number of major banks to deliver the first regional Know Your Customer (KYC) blockchain proof-of-concept. Banking giant HSBC, Japan’s largest bank – Mitsubishi UFJ Financial Group (MUFG) and OCBC Bank are all participating banks in the consortium.
Singapore: MAS sets up international advisory panel for cybersecurity Asia Insurance Review 27th Sep 2017
The Monetary Authority of Singapore (MAS) announced last week that it has established a Cyber Security Advisory Panel (CSAP), comprising cybersecurity experts from around the world. The CSAP will advise MAS on strategies to enhance the cyber resilience of Singapore’s financial sector. It will provide MAS with global perspectives on evolving technologies and cyber threats, and their implications for financial services, as well as insights on best practices in cyber security strategies. Mr Ravi Menon, Managing Director of MAS said, “As financial institutions adopt new technologies and financial services are increasingly distributed using digital platforms, strong cyber security is critical to sustaining trust and confidence. We look forward to tapping on the CSAP’s expertise to help ensure that Singapore’s financial sector remains dynamic and secure in an increasingly digital world.”
MAS forms cybersecurity panel Singapore Business Review 21st Sep 2017
It includes officials from local and foreign financial institutions and firms. The Monetary Authority of Singapore (MAS) established a Cyber Security Advisory Panel (CSAP) comprised of leaders from financial institutions and firms. According to a press release, the CSAP will advise MAS on strategies to address cybersecurity issues in the country's financial sector. CSAP members will all have a two-year term. Appointed members are head officers of institutions such as London Stock Exchange Group, Accenture Security, JPMorgan Chase & Co, and Cyber Security Agency of Singapore. MAS managing director Ravi Menon said, "As financial institutions adopt new technologies and financial services are increasingly distributed using digital platforms, strong cybersecurity is critical to sustaining trust and confidence. We look forward to tapping on the CSAP’s expertise to help ensure that Singapore’s financial sector remains dynamic and secure in an increasingly digital world."
Security interests in commingled goods under scrutiny in Singapore High Court Lexology 21st Sep 2017
Pars Ram Brother (Singapore Company) was engaged in the spice business. The Singapore Company obtained trade financing facilities from various banks to finance its business. As security for the financing, the Singapore Company had pledged the goods financed by each bank under a pledge arrangement. The Singapore Company entered into voluntary liquidation. The liquidator discovered that the Singapore Company had commingled the goods by stacking them together without segregation. This made it impossible to identify incoming goods financed by each bank from existing goods financed by other banks.
Singapore's central bank inks fintech deal with Malaysia International Business Times 19th Sep 2017
The Monetary Authority o Singapore (MAS) is boosting its ties with Malaysia in the areas of fintech and financial services with the signing a cooperation agreement (CA) with Securities Commission Malaysia (SC). The deal was signed by MAS Chief FinTech Officer Sopnendu Mohanty and SC Executive Director for Innovation, Digital & Strategy Chin Wei Min.
Food & Agriculture
Singapore asked to increase its imports Khmer Times 20th Oct 2017
Cambodia has asked Singapore to consider buying more Cambodian agricultural products, particularly rice pepper and mango. The request was made during a meeting on Tuesday between Foreign Minister Prak Sokhonn and his Singaporean counterpart Vivian Balakrishnan. “To further increase bilateral trade, the Cambodian Minister requested Singapore to consider importing agricultural products, namely rice, peppers, and mangoes,” the official statement from the Ministry of Foreign Affairs and International Cooperation reads.
Blue stains on veggies 'caused by fungicide' The Straits Times 29th Sep 2017
Supermarket chain FairPrice has halted sales of vegetables marked as Shanghai Green and Japanese Green from importer Alamanda Singapore following photos posted online of blue stains found on them. FairPrice said yesterday the stain was caused by "residual remnants of undissolved fungicide" which the Agri-Food and Veterinary Authority (AVA) said on Wednesday could be copper-based fungicide, based on the photos.
Poor grade for Malaysia, Singapore brands in palm oil sustainability: WWF Mongabay Environmental News 22nd Sep 2017
The majority of Malaysia and Singapore’s most popular brands have failed to push for the use of sustainable palm oil in their products, with some refusing to disclose who they buy from, according to a new survey by the World Wide Fund for Nature (WWF). Earlier this year, the international NGO surveyed 47 locally based food and restaurant-chains, with 27 from Singapore and the rest from Malaysia. The survey is called the Palm Oil Buyers’ Scorecard (pdf). Of the 47 companies that were contacted, only 16 disclosed information on their palm oil usage. And half of those had taken no action to support the use of sustainable palm oil.
Health & Life Sciences
$1.2m study to improve patient care for asthma and COPD The Straits Times 18th Oct 2017
A three-year local study, which aims to improve the care of Singapore's asthma and chronic obstructive pulmonary disease (COPD) patients, started on Monday. The $1.2 million study aims to create a database for research into respiratory diseases by accelerating the digitisation and integration of records of patients who suffer from asthma and COPD - a serious disease that limits airflow to the lungs.
MOH reviews doctors' training to become specialists The Straits Times 1st Oct 2017
The way doctors are trained as specialists is being reviewed, announced Senior Minister of State for Health Chee Hong Tat yesterday- less than two weeks after the Health Ministry (MOH) said there was a need for more "generalists" to serve an ageing population. Referring to the United States-styled residency programme introduced in 2010 to help speed up training for specialist doctors, Mr Chee admitted that some of its outcomes "have not been as positive in practice as what we had originally hoped for".
Singapore vulnerable to 'super malaria' but rapid spread unlikely The Straits Times 24th Sep 2017
A "super malaria" parasite is spreading through South-east Asia at an alarming rate and Singapore is unlikely to keep it off its shores. However, it is unlikely that there will be a rapid spread here. That is because Singapore, declared malaria-free by the World Health Organisation in 1982, has only a small population of Anopheles mosquitoes - the carriers of malaria.
$5 subsidised health screening available for younger Singaporeans found at risk of diabetes The Straits Times 19th Sep 2017
Younger Singaporeans can now qualify for subsidised health screening if they are deemed to be at risk of diabetes in an online questionnaire available since the start of September.
Singapore comes up tops on progress in health-related UN goals The Straits Times 13th Sep 2017
Singapore is No. 1 for progress made on a set of United Nations (UN) goals to build a better future, based on health-related indicators, according to a paper published in prestigious journal The Lancet on Tuesday (Sept 12). It scored 86.6 on an index created to see how close countries are to achieving the UN's sustainable development goals. This was the highest score among all 188 countries studied - ahead of the Scandinavian nations, Switzerland and Britain.
Record jumps in hospital, clinic attendance last year The Straits Times 16th Oct 2017
Hospitals and clinics in Singapore have reported big increases in attendance, with an ageing population and people seeking medical help more readily - thanks to new government subsidies - seen as major factors. Hospital admissions increased by a record 9 per cent last year compared with 2015. This is more than double the annual increases of up to 4 per cent in the past decade. Similarly, polyclinic attendance rose by 8 per cent over 2015 - eclipsing the annual increases of 0.2 per cent to 4.9 per cent since 2007. Attendance at specialist outpatient clinics at public hospitals also spiked 5 per cent - the highest annual increase in a decade.
Patients with rare diabetes tracked with new registry The Straits Times 15th Oct 2017
For most people, detecting diabetes is a relatively straightforward matter of taking a blood test. But for Ms Tan, 23, it took a genetic test to confirm that she has diabetes. She does not have type 1, type 2 or gestational diabetes, but a separate and almost unknown type called monogenic diabetes. Ms Tan, who declined to reveal her full name, is among an estimated 2,500 to 5,000 people here with monogenic diabetes. This is based on the prevalence of those afflicted in other populations, such as in Britain.
Changi Airport Group launches Pharma@Changi initiative Enterprise Innovation 4th Oct 2017
Changi Airport Group (CAG) has formalized the Pharma@Changi initiative, together with its partners from the air cargo supply chain. This new community will work towards the continuous strengthening of Changi’s capabilities to handle pharmaceutical air cargo. Together with CAG, the partner companies who signed the memorandum of understanding (MOU) include Bollore Logistics, CEVA logistics Singapore, DHL Global Forwarding, dnata Singapore, Expeditors Singapore, Global Airfreight International, SATS, Schenker Singapore and Singapore Airlines Cargo.
Harnessing innovation in public health The Straits Times 15th Sep 2017
The second Raffles Dialogue, hosted last week by the National University of Singapore schools of medicine, public health and public policy along with the National University Health System (NUHS), focused on "The Critical Role of Innovation" in the context of the broader theme of "Human Well-being and Security in 2030". It was attended by more than 100 global health experts and international participants. In his opening address looking forward to 2030, Professor John Wong, chief executive of NUHS, urged the audience to consider Charles Darwin's theory of natural selection, published in the mid-1800s, which emphasised that neither intelligence nor physical strength was the critical factor for survival.
ICT
Singapore is the most robust Asian market for data centres Singapore Business Review 23rd Oct 2017
Its 370 MW IT power supply for data centres is the largest in the world. Singapore is the most robust country for data centres in Asia as it scored 84.50 out of 100 in Cushman & Wakefield’s Data Center Risk Index.
Singapore to offer world's largest AI hub: Marvelstone The Business Times 23rd Oct 2017
The AI hub's goal is in part to position Singapore as a global leader in AI technologies. "There is a clear need for a big playground for startups, entrepreneurs and even corporates in the field of AI. Considering the high interest and demand for AI globally, there are still relatively few places to test these new technologies," said Joel Ko Hyun Sik, president of Marvelstone Group.
Singapore-listed firms among world’s least exposed to cyber threats ComputerWeekly.com 4th Oct 2017
Singapore-listed companies ranked third globally in average cyber exposure, with 60% of them having little or no exposure to cyber threats, according to a cyber exposure index (CEI).
Yaacob urges companies to go digital, share data TODAY 3rd Oct 2017
Many local companies are not tapping the potential of big data or other new technologies, and steps must be taken to help them overcome barriers to adoption, said Minister for Communications and Information Dr Yaacob Ibrahim on Tuesday (Oct 3).
Singapore proposes changes to cybersecurity and data protection regimes Data Protection Report 25th Sep 2017
In a bid to keep pace with advancements in the technological landscape, the Singapore Government has in recent months embarked on public consultations on its draft Cybersecurity Bill (the Cyber Bill) and its proposed amendments to Singapore’s Personal Data Protection Act (PDPA) to update the country’s data protection regime. These changes will have a significant impact on how companies manage personal data and secure their information systems.
Singapore seen as top spot to launch global cyber attacks TODAY 22nd Sep 2017
Singapore has overtaken nations including the US, Russia and China as the country launching the most cyber attacks globally, according to Israeli data security firm Check Point Software Technologies.
Singapore's Cybersecurity bill to be introduced only in 2018 International Business Times 19th Sep 2017
The Cybersecurity Bill which was delayed this year in Singapore will be introduced in Parliament in 2018 according to Minister of Communications and Information Yaacob Ibrahim on September 18.
Singapore and Japan ink accord to strengthen cybersecurity cooperation The Japan Times 19th Sep 2017
Singapore and Japan signed a pact on Monday to boost cybersecurity cooperation between the two countries. The memorandum of cooperation provides for the holding of regular policy dialogues between the two countries in addition to information exchanges, collaborations to enhance cybersecurity awareness, joint regional capacity-building efforts, and sharing of best practices, Singapore’s Cyber Security Agency said in a statement.
$16m funding for projects to boost Singapore's cyber-security R&D The Straits Times 19th Sep 2017
More than $16 million will be invested to strengthen Singapore's cyber-security research and development, under two separate programmes that aim to produce more commercial cyber-security solutions.
Singapore to have new academy to train cybersecurity professionals Channel NewsAsia 19th Sep 2017
Acting Prime Minister Teo Chee Hean on Tuesday said the Cyber Security Agency (CSA) will develop a new academy to train cybersecurity professionals, and it will partner leading industry partners to train those in government and critical information infrastructure (CII) sectors. This will be opened in the later part of this fiscal year, and will be expanded later to include cybersecurity professionals for the wider community.
S’pore gives S$1.5m to boost Asean cyber security Today 19th Sep 2017
Cyber security efforts in Asean countries will be given a boost, with Singapore setting aside S$1.5 million over three years to help train incident responders and operators in the region to tackle cyber threats. The money will come from the S$10million Asean Cyber Capacity Building Programme, set up by Singapore last year to strengthen the group’s capability to respond to cyber threats by developing technical and policy-building capabilities.
Singapore e-commerce sales to reach $10b in 2020 Singapore Business Review 14th Sep 2017
Growth rate could hit 11.7% in three years. Singapore is one of the most attractive e-commerce market in Asia. According to BMI Research, e-commerce players can find growth in the "small but mighty" due to its fully urbanised populations, wealthy consumers, and highly developed logistics networks. Singapore's e-commerce sales are poised to reach $10b (US$7.4b) within 2017 to 2020, with a growth rate of 11.7%. It also scored 84.5 out of 100 in the Trade and Procedures Governance measure, the highest amongst 12 countries that were studied. However, BMI Research said e-commerce growth can be limited by the country's small population, as it has already penetrated all areas of mass market retail from food to fashion.
Infrastructure
New Industry Transformation Map launched to create new, better jobs in construction sector Channel NewsAsia 24th Oct 2017
The construction industry is looking to improve work processes by adopting prefabrication methods in more projects and using digital tools to allow various parties involved in the building process to share information. These are part of a new Industry Transformation Map (ITM) for the construction industry, launched on Tuesday (Oct 24) by Second Minister for National Development Desmond Lee at the opening of the Singapore Construction and Productivity Week. The transformation aims to streamline construction processes and ultimately create new and better jobs in the sector. ITM targets to have 80,000 personnel trained in new construction technology and green building capabilities by 2025, up from 32,600 currently. The construction roadmap is the 11th to be launched since plans for ITMs were announced in last year’s Budget. In total, these maps, which are tailored to the needs of each industry, will be developed for 23 sectors which contribute most significantly to Singapore’s economy.
Why Malaysian ports are losing out to Singapore Malaymail Online 14th Sep 2017
Five major global shipping firms ditched Port Klang for Singapore in April as a result of an-industry wide shakeup meant to sustain a struggling container liner business bogged by the global economic slowdown. By shifting operations to the Port of Singapore, the companies now operating under the newly formed Ocean Alliance effectively took with them over a third of Port Klang’s income or roughly around two million worth of imported conventional containers (carrying goods) that otherwise would have passed through its terminals before getting shipped to other major ports in the world. This process, called transhipment, accounts for almost 30 per cent of Port Klang’s total income; transhipment volumes account for 40 and 20 per cent of total revenue for its two main terminals, Westports and Northports, respectively.
Manufacturing
Zero growth adds to dismay of motorcycle dealers TODAYonline 25th Oct 2017
Motorcycle dealers held an emergency meeting on Wednesday night (Oct 25) to discuss their response to the Land Transport Authority’s (LTA) announcement on Monday that there would be zero growth for motorcycles from February next year. Already reeling from recent policies that have resulted in motorcycles becoming costlier and scarcer, the latest news – that the vehicle growth rate for cars and motorcycles would be cut from the current 0.25 per cent to zero – marked another step back for the industry. It will also lead at least one food delivery company to depend more on bicycles going forward. “This is bad news for the industry at a time when the motorbike population is already facing a steady decline,” lamented Mr Norman Lee, honorary secretary of the Singapore Motor Cycle Trade Association. In February this year, a tax called the Additional Registration Fee (ARF) was raised for motorbikes with Open Market Value exceeding S$5,000. From 15 per cent of the ARF, the rate was raised to 50 or 100 per cent of the ARF. From next year, motorcycles larger than 200CC will have to comply with more stringent Euro 4 emissions standards here. The smaller motorbikes will follow suit by 2020.
SIA seals $18.77b deal for 39 Boeing units Singapore Business Review 24th Oct 2017
Deliveries will be made starting from 2020. Singapore Airlines (SIA) finalised the purchase of 39 Boeing aircraft, composed of 20 777-9s and 19 787-10s, for $18.77b (US$13.80b). According to a press release, the purchase agreement also has six options for each aircraft type, which if exercised, will enlarge the deal to as many as 51 aircraft. The 777-9s are intended primarily for long-haul routes and are due for delivery from 2021. The 787-10s are to be operated on medium-range routes and are due for delivery from 2020. SIA is due to take delivery of the world’s first 787-10 in the first half of 2018, from a 2013 order with Boeing for 30 aircraft. SIA currently has more than 50 current-generation Boeing 777 aircraft in service. Its subsidiaries SilkAir, Scoot and SIA Cargo also operate Boeing aircraft, with 737 MAX 8 and 737-800, 787-8/9 and 747-400 Freighter types in service, respectively.
Singapore PMI inched up to 52.0 in September Singapore Business Review 3rd Oct 2017
It's the highest since 2011. Singapore's Purchasing Managers' Index (PMI) rose 0.2 points from August to 52.0 in September. According to the Singapore Institute of Purchasing & Materials Management (SIPMM), the expansion is the highest since April 2011. SIPMM said a faster rate of expansion in all key indicators boosted the reading. Finished goods and input prices expanded but at a slower pace. "The slower rate of expansion for stocks of finished goods was on the back of higher new orders, and this should bode well for the manufacturing economy," SIPMM said. Manufacturing employment went back into expansion after four months of contractions. SIPMM said this indicated sustained growth for the manufacturing economy since last year.
Electronics PMI up to 53.6 in September Singapore Business Review 3rd Oct 2017
All indicators except employment went up. The electronics sector Purchasing Managers' Index (PMI) rose 0.4 points to 53.6 in September. According to the Singapore Institute of Purchasing & Materials Management (SIPMM), this is the highest recorded reading in seven years since July 2010. All key indicators except for employment recorded a faster rate of expansion for the month. Order backlog and stocks of finished goods had a slower rate of expansion. The deliveries indicator contracted to 49.7 after expanding seven months.
Singapore manufacturing outperforms with 19.1% surge in August as electronics continue to soar The Straits Times 26th Sep 2017
The brightest spot in the Singapore economy continued shining last month as surging global demand for electronics once again helped lift factory output in August. Manufacturing output increased 19.1 per cent year-on-year in August, beating economists' expectations of a 16 per cent increase and following from a 21 per cent surge in July. Manufacturing - making up a fifth of the economy and a key growth driver this year - is being lifted by strong global demand for semiconductors and related equipment. Almost all manufacturing segments expanded last month, but electronics was once again the top performer - with output soaring 38.7 per cent last month from the same period last year, according to Economic Development Board data out on Tuesday (Sept 26).
Singapore eyes adding $22.2b to electronics manufacturing value by 2020 Singapore Business Review 21st Sep 2017
It also wants to create 2,100 new PMET jobs. Singapore is eyeing to add $22.2b worth of manufacturing value to its electronic industry by 2020. Singapore Economic Development Board (EDB) laid out an Electronics Industry Transformation Map (ITM) to highlight plans for the sector in the next few years. According to a speech by S Iswaran, the Electronics ITM sets out a two-pronged strategy to grow the industry. “Firstly, Singapore will diversify into new growth opportunities in the electronics sector. Secondly, we will transform the current base of electronics manufacturing and attract new investments in high-value components,” he said. The government is also aiming to create 2,100 new Professional, Managerial, Executive & Technical (PMET) jobs. Last year, electronics manufacturing comprised 4.4% of Singapore’s GDP. Manufacturing output hit $90b, and employment reached 70,000.
|
