| National Affairs
Singapore seeks to export own model FT 29th Jul 2015
Singapore, the second busiest port in the world, is pursuing a flourishing trade beyond the wharfs: exporting itself. As rapid urbanisation rips through Asia and the world, the island state is forging a new role for itself by cloning its own skills and models, from teaching maths and treating water to developing airports or entire cities. “A lot of cities in the region are looking at Singapore in terms of potential lessons they can learn,” says Malone-Lee Lai Choo, director at the National University of Singapore’s Centre for Sustainable Asian Cities. Their interest, she says, ranges from Singapore’s expertise in waste or water treatment systems through to urban planning. Myanmar officials were even keen to take Singapore’s roof gardens to the dilapidated streets of Yangon.
What matters at coming election Straits Times 28th Jul 2015
The recommendations of the Electoral Boundaries Review Committee demonstrate an incremental approach that balances the interests of all stakeholders. For example, the number of single seats and Group Representation Constituencies (GRCs) will go up by just one each, and only 19 per cent of voters will wind up in a new constituency, compared with 30 per cent in 2011. While closely contested Joo Chiat (an anomaly that is composed of private housing) has vanished, so has Whampoa, a People's Action Party stronghold. And while wards held by the Workers' Party were left untouched, there was also no move to downsize the representation of two jumbo six-member GRCs, helmed by top ministers. Certainly, no redrawing of electoral boundaries can be free of contention, given its potential to tilt the balance in hotly contested areas or confer broad advantages to one side. In the polity that is Singapore, responses are also shaped by the present process of determining electoral divisions by political fiat and the past practice of calling for elections with little delay - as short as one day - after the release of the review report. Consequently, those who cynically dismiss the exercise as "gerrymandering" might ignore population shifts that form the basis for redefining wards.
Coordinated support for vulnerable groups among MSF priorities: Tan Chuan-Jin Channel News Asia 28th Jul 2015
Enhancing the support for families and vulnerable groups, as well as having the community play a greater role in taking care of those less well off are among new Social and Family Development Minister Tan Chuan-Jin's agenda for his ministry. In an interview with Channel NewsAsia, Mr Tan outlined his priorities for the ministry, with one of the priorities on vulnerable children. The Ministry of Social and Family Development (MSF) is looking at how to integrate support given across the various Government agencies, he added.
No outright Opposition claimants yet for 4 out of 29 constituencies Channel News Asia 28th Jul 2015
Ahead of a meeting scheduled for Friday (Jul 30) in which Opposition hopefuls will seek to avoid three-corner fights, the Opposition parties have already declared they will contest 25 of the 29 constituencies laid out for the coming General Election. Only four – Holland-Bukit Timah, Jurong and Sembawang GRCs as well as Bukit Panjang SMC – have not been laid claim to. Of the four, three were contested in the 2011 GE by the Singapore Democratic Party (SDP), while one saw the National Solidarity Party (NSP) take on the ruling People’s Action Party (PAP).
Singapore's ruling party contends with new voting majority Channel News Asia 28th Jul 2015
When the Republic celebrates its 50th year of independence on Aug 9 and its older citizens eulogise the country's economic feats, its ruling party founded by the late Lee Kuan Yew faces an unprecedented wave of young voters who may not be as nostalgic. For the first time, citizens born after the country's independence in 1965 will likely account for the majority of voters in a General Election due to take place by January 2017. As of 2014, almost 54 per cent of citizens above 20 were born in 1965 and later, compared with 46 per cent born after independence in 2010. Singapore's voting age is 21.
Workers’ Party to contest 28 seats, political parties out in full swing Yahoo! News 27th Jul 2015
The opposition Workers’ Party (WP) has stated their intention to contest 28 seats in the upcoming Singapore general elections, with the seats located in five Group Representation Constituencies (GRCs) and five Single Member Constituencies (SMCs). According to reports, party chairman Sylvia Lim confirmed this Sunday. The only time this number of seats was exceeded was in the 1988 elections, with 32 contested seats by the party.
Five Burning Questions For The Upcoming Singapore General Elections Yahoo! News 24th Jul 2015
One of the surest signs of an impending general election in Singapore has arrived: just a few days after a routine polling district gazette was released, the Electoral Boundaries Review Committee has released their report of electoral boundaries. As Singaporeans (and maybe the rest of the world) scrutinise this report and Singapore’s past few years leading up to one of the most hotly-anticipated elections ever, five questions have emerged which will hopefully gain answers as the electoral hustlings kick into full swing:
Defense & Security
Singapore, Australia further defence science and technology cooperation Channel News Asia 28th Jul 2015
Singapore and Australia have renewed cooperation in defence science and technology, announced the Republic's Ministry of Defence. The Chief Defence Scientists of Australia and the Republic on Thursday (Jul 23) renewed the Memorandum of Understanding for Cooperation in Defence Science and Technology (S&T MOU) in Singapore, said MINDEF. Second Minister for Defence Lui Tuck Yew and Australia's Assistant Minister for Defence Mr Stuart Robert witnessed the renewal of the agreement.
Singapore Launches New High-Speed Vessels to Counter Maritime Threats The Diplomat 23rd Jul 2015
On July 21, Singapore launched two types of new high-speed vessels to better counter the growing maritime threats the country is facing. The Singapore Police Coast Guard (PCG) inducted 11 new patrol interdiction boats (PIBs) and six second generation PK-class interceptors into the service. The vessels were commissioned by city-state’s deputy prime minister, home minister and coordinating minister for national security Teo Chee Hean.
US, Singapore Launch Maritime Warfare Exercise The Diplomat 14th Jul 2015
On July 13, the U.S. and Singapore navies began a joint maritime exercise at Changi Naval Base. The 21st annual Cooperation Afloat Readiness and Training (CARAT) Singapore exercise involves 1,400 personnel from both countries and will take place from July 13 to July 24. It is part of a series of bilateral naval exercises conducted by the U.S. Navy (USN) with partners and now involves nine countries in South and Southeast Asia – Bangladesh, Brunei, Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Timor-Leste (See: “US Eyes Expanded Military Exercises with ASEAN Navies”). According to Singapore’s Ministry of Defense (MINDEF), this year’s exercise focuses on honing conventional maritime warfare capabilities – including anti-air, anti-surface and anti-submarine operations. In terms of assets, the Republic of Singapore Navy (RSN) and the Republic of Singapore Air Force is contributing five ships, a submarine, a naval helicopter, a maritime patrol aircraft and a fighter aircraft, while the USN and U.S. Marine Corps is contributing three ships, a submarine, three naval helicopters and a maritime patrol and reconnaissance aircraft.
Singapore Debuts S-70B Naval Helicopter on Board US Navy LCS Jane's) 28th Jul 2015
In a sign of greater interoperability between the armed forces of the two countries, the US Navy's (USN's) Littoral Combat Ship (LCS) USS Fort Worth (LCS 3) has conducted deck landing qualifications for a Republic of Singapore Air Force (RSAF's) S-70B naval helicopter during a bilateral naval exercise. "The RSAF's S-70B Seahawk deck landing qualification on board Fort Worth during this year's Cooperation Afloat Readiness and Training' ('CARAT') 2015 Singapore was the first time that the aircraft has landed on a littoral combat ship," Lieutenant Lauryn Dempsey, spokeswoman for the USN's Destroyer Squadron 7, said in response to questions from IHS Jane's on 27 July. The qualifications were conducted during the sea phase of the exercise, part of a series of bilateral naval drills between the USN and the armed forces of nine partner countries in south and Southeast Asia. 'CARAT' Singapore 2015 ran from 13-24 July and featured ashore and at-sea phases, the latter focusing on conventional maritime warfare operations including anti-air, anti-surface, and anti-submarine operations.
Singapore, Indonesia reaffirm commitment to strengthen ties CNA 28th Jul 2015
Singapore's Prime Minister Lee Hsien Loong and Indonesia's President Joko Widodo on Tuesday (Jul 28) reaffirmed their commitment to strengthen ties between both countries. Mr Widodo is on his first official visit to Singapore, since taking office in October last year. Addressing the media after a meeting, Mr Lee said both sides discussed how to increase economic cooperation between Singapore and Indonesia. He noted that Singapore has consistently been a top trading partner and investor in Indonesia. Indonesia has also always been an attractive destination for Singapore companies. "We agreed to work together to make it even more attractive, so that Singapore companies can take advantage of opportunities in Indonesia," said Mr Lee. One example is in the Batam, Bintan and Karimun Special Economic Zone. Mr Widodo added that Indonesia will set up a special unit to handle issues there.
Blacklisted Singapore shipping firm denies arms link to North Korea The Economic Times 24th Jul 2015
A Singapore shipping firm blacklisted by the US government for allegedly supporting illicit arms shipments into North Korea strongly denied the allegation Friday and vowed to clear its name. Senat Shipping and Trading Pte Ltd said it had "for many years chartered North Korean vessels to operate on the global spot market" but all these were legitimate commercial transactions.
Economics
Upbeat Jokowi plans to woo Singapore investors during visit Intellasia 28th Jul 2015
Indonesia could see growth of more than 5 per cent in the second half of the year, President Joko Widodo said yesterday, forecasting a pick-up from a tepid first half that has seen analysts cut their full-year outlook for South-east Asia’s biggest economy. There is also no fear that the region is facing a situation similar to the Asian financial crisis of the late 1990s, Joko, 54, said.
Singapore to raise salary bar for foreigners seeking family visas The Indian Express 28th Jul 2015
Singapore will hike the minimum salary amount for foreign workers seeking to bring their families over to live with them. The Ministry of Manpower (MOM) is all set to raise the monthly salary bar to at least SGD 5,000 from September 1 in order to qualify for dependant passes (DPs) for their spouses and children joining them in Singapore. The current minimum figure stands at SGD4,000.
Singapore Rich List 2015: Fortunes Of 50 Richest Drop In Country’s Golden Jubilee Year Forbes 24th Jul 2015
As Singapore gears up to celebrate its golden jubilee, the island nation is showing signs of middle-aged angst. In the last quarter the economy contracted 4.6 percent with hits to both manufacturing and services. In 2014 tourist arrivals, a mainstay, fell 3 percent to 15 million against an expected 17 million, as travellers from China dropped sharply. In the past 12 months the stock market has flatlined while the Singapore dollar is down 9 percent.
IMF expects Singapore economy to grow 2.9% in 2015 Straits Times 23rd Jul 2015
The International Monetary Fund (IMF) expects the Singapore economy to grow 2.9 per cent this year, the same pace as last year. Growth will be supported by accommodative macroeconomic policies, lower energy costs and a gradual recovery in external demand, the IMF said in its latest report about Singapore.
Making Singapore a great retail destination again Straits Times 23rd Jul 2015
Singapore’s retail sector is critical to making the island a major tourism hub and boosting its economy. With tourist arrivals down by over 7 per cent this year, Singapore’s allure as one of Asia’s best retail destinations is declining. Ironically, some of the factors that made the Republic successful in the past are now hindering its retail growth.
Singapore must balance immigration policies and birthrate: PM Lee ZeeNews 23rd Jul 2015
Prime Minister Lee Hsien Loong has warned that Singapore, with over 1.3 million foreign workers, may end up in a "tight spot" like Japan if it fails to strike the right balance between birthrate and immigration policies. As of now Singapore's demographics may not have become a major issue -- but it will be in a generation's time, on a 25-year timeframe.
Singapore's new savings bond comes with good intent, bad timing Reuters 22nd Jul 2015
Singapore's plan to launch a savings bond to encourage long-term retail savings is unsettling domestic banks and economists who fear this bond will push interest rates up and suck cash out from an already anaemic economy. The new bond, which will begin selling in October, will have a term of 10 years. It will offer the same yields as government bonds or ten times the returns on bank deposits, and can be redeemed without penalty at any point.
Singapore at 50 Confronts Aging, Economic Restructuring International Monetary Fund 22nd Jul 2015
Singapore’s economy continues to perform well, and is expected to grow at about 3 percent in 2014–15, and enjoy full employment and low inflation, according to the IMF’s latest economic assessment of the city-state. But domestic demand has been supported by a more accommodative monetary policy since January, as well as a supportive fiscal policy, and lower energy prices. The labor market is tight, with unemployment below 2 percent, inflation is subdued, and there is little sign of inflation pressure.
Temasek Puts Neptune Orient Lines Up for Sale The Wall Street Journal 16th Jul 2015
Singapore state-investment company Temasek Holdings Pte. Ltd. has put its $1.7 billion container-shipping company up for sale, according to people familiar with the situation. Heavily indebted, money-losing Neptune Orient Lines Ltd., 65% owned by Temasek and listed in Singapore, has been shopped to prospective buyers in recent months, these people said. It has been in talks with one, but the two sides couldn’t agree on a price, according to one of the people. The discussions could include other potential buyers.
New federation set up to fight Singapore's manpower crunch Channel News Asia 16th Jul 2015
In an effort to turn the tide against the manpower crunch, the Workforce Advancement Federation was officially launched at the inaugural Workforce Advancement Summit 2015 on Thursday (Jul 16). The newly-established federation said it envisions its core objective to be to shape a productive and competitive workforce for the local business community. It aims to focus on capability development and labour productivity initiatives to boost companies' competitiveness.
Singapore economy 'not likely to slip into deflation': Trade Minister Channel News Asia 14th Jul 2015
The Republic's economy is not experiencing deflation, nor is it likely to slip into deflation, said Trade and Industry Minister Lim Hng Kiang in a written response to Parliamentary questions on Monday (Jul 13). He said CPI-All Items inflation averaged -0.4 per cent on a year-on-year basis in the first five months of this year, but these rates are not an indication of deflation as the price declines are "not broad-based nor are they expected to persist".
Energy
Water, energy supply among challenges in Singapore's future: Chan Chun Sing Channel News Asia 24th Jul 2015
As Singapore looks beyond celebrating its 50th year of independence to SG100, labour chief Chan Chun Sing has said engineers can help address challenges to the nation's survival and success in the future. One such area is in its water and energy supply, even though Singapore has almost reached self-sufficiency in water. "The water scarcity challenge has not entirely left us,” said Mr Chan during a dialogue at a gala dinner for the World Engineers Summit on Climate Change on Thursday (Jul 23). “We still have one other water agreement to go that will expire in 2061 and our challenge is by then will we be fully independent of having to rely on external sources."
Sunny future for solar panel research in Singapore Channel News Asia 18th Jul 2015
More people are tapping into energy from the sun, and the number of solar panel installations is set to increase. The industry is also warming up, with more solar companies operating in Singapore in recent years, buoyed by Government investments into new technologies. Solar panels, usually seen on rooftops, could soon be a fixture on ponds and reservoirs too. A test at Bishan Park, which took place from March 2013 to December 2014, aims to make that a reality. Mr Christophe Inglin, managing director of Phoenix Solar Singapore, said: "We wanted to see what additional requirements are there in terms of operation and maintenance. Water and electricity don't exactly mix, so extra precautions there. Would the pond life - pond weed, turtles, frogs - would they have an impact on the system?"
Singapore’s Intended Nationally Determined Contribution and what it means Eco-Business 13th Jul 2015
Singapore has recently submitted its Intended Nationally Determined Contribution (INDC) to the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat. Each country is requested to submit their INDC before the Conference of Parties in Paris in December this year so as to facilitate the development of a new global climate agreement for the post-2020 period. Singapore’s INDC states that it intends to reduce its Emissions Intensity (EI) by 36 per cent from 2005 levels by 2030, and stabilise its emissions with the aim of peaking around 2030. Singapore’s Emissions Intensity or greenhouse gas (GHG) emissions per S$GDP (at 2010 prices) in 2005 is 0.176 kgCO2e/S$. A reduction of 36 per cent would mean that Singapore’s EI in 2030 is projected to be 0.113 kgCO2e/S$.
Solvay opens S$50m specialty chemicals plant in Singapore The Business Times 10th Jul 2015
BELGIUM-BASED specialty chemicals firm Solvay opened its S$50 million plant on Jurong Island today. It also announced the expansion of oil and gas research at its research and innovation centre in Singapore. The alkoxylation plant, which will be Solvay's largest in Asia, will complement existing facilities in India and China. It will receive a key raw material, ethylene oxide, via a dedicated pipeline, and produce chemical formulations for use in the agrochemicals, coatings, home and personal care, industrial, and oil and gas markets in Asia.
Financial Services
MAS to enhance safeguards for consumers buying financial products in public places Channel News Asia 28th Jul 2015
The Monetary Authority of Singapore (MAS) on Thursday (Jul 23) published a consultation paper outlining measures to safeguard consumers’ interests when buying financial products and services at retailers and other public places. The authority proposes to issue Market Conduct Guidelines that financial institutions (FIs) are required to implement when conducting marketing and distribution activities in these areas, including ensuring that there are adequate controls for a proper sales and advisory process, it said in a news release.
Singapore-Malaysia joint bid for Olympic Games an 'interesting concept': SNOC Channel News Asia 28th Jul 2015
The Singapore National Olympic Council (SNOC) said on Tuesday (Jul 28) that jointly bidding to host the Olympic Games with Malaysia is an “interesting concept which has yet to be explored in depth”. In response to media queries, SNOC said while Singapore have hosted the Youth Olympic Games in 2010 and the Southeast Asian Games, it is unable to host the Olympic Games due to the demands and magnitude of the requirements.
Domestic banking sector at risk from sophisticated cyber threats: MAS Singapore Business Review 10th Jul 2015
Innovation is critical to financial institutions. Singapore’s goal to become a smart financial centre is at risk from ever more sophisticated cyber threats, Monetary Authority of Singapore Managing Director Ravi Menon said in a speech today.
Singapore junk bonds gain most in Asean Business Mirror 29th Jul 2015
Junk bond investors earned twice as much in Singapore as they did in Indonesia this year as private banks sought haven in more developed markets. US dollar notes from the island have gained 7.9 percent so far this year, the best among regional peers, according to a Bank of America Merrill Lynch index. In Indonesia, Southeast Asia’s largest high-yield market, they gained just 3.2 percent, as PT Berau Coal Energy this month took the nation’s default tally to more than $3 billion over the past seven years. Singapore speculative-grade notes are poised for their best year since 2012 as debt profiles improve and local millionaires prefer the comfort of a home market that boasts a “AAA” sovereign rating. The debt has proved resilient to wider turmoil in the region, as missed obligations rise in Indonesia and Malaysia’s prime minister is caught in a state investment fund scandal.
New panel to advise MAS on strategies The Straits Times 29th Jul 2015
The Monetary Authority of Singapore (MAS) said yesterday that a new advisory panel has been formed to help the central bank better engage and develop the financial industry here. The 26-member Financial Centre Advisory Panel (FCAP) "will strengthen the dialogue and partnership between MAS and the financial industry, to drive the growth and development of Singapore's financial centre''. Among the panel members are key financial industry figures such as the chief executives of all three local banks - DBS Group Holdings' Mr Piyush Gupta, OCBC's Mr Samuel Tsien and United Overseas Bank's Mr Wee Ee Cheong.
Singapore: Brokers in legal fight over staff Asia Insurance Review 28th Jul 2015
Jardine Lloyd Thompson Group has taken Howden Insurance Brokers to court in a bid to thwart plans by the rival to poach 17 of its Singapore staff, reported Bloomberg. The broking arm of Hyperion Insurance Group, headhunter Huntington Search Partners Pte, JLT Singapore Managing Director Goh Chye Huat and three other executives coordinated the raid in April and May, JLT’s Singapore unit said in a lawsuit. Howden, the headhunter and the executives deny wrongdoing and said the JLT employees were not induced to breach their obligations, according to court papers. JLT, the U.K.’s largest publicly traded insurance broker, was sued in London in April by another competitor after hiring 31 of its employees, and “cannot genuinely consider en masse resignations to be unlawful,” Howden said in its court filing.
S&P raises rating for Singapore banking sector The Straits Times 28th Jul 2015
Standard & Poor's yesterday upgraded its view of the economic risk trend for the banking sector here from stable to positive. A positive trend view indicates that the rating agency believes there is at least a 30 per cent chance for the economic risks faced by local banks to improve in the next year or two. The change was made to account for the Government's efforts to cool the property bubble and tighten credit quality control. S&P said: "In our view, Singapore has economic imbalances stemming from elevated property prices and a rapid rise in private sector credit in recent years.
MAS unveils new advisory panel to strengthen its industry partnership Channel News Asia 28th Jul 2015
A new Financial Centre Advisory Panel has been set up to help the Monetary Authority of Singapore (MAS) "strengthen the dialogue and partnership" between the regulator and the industry. In a news release on Tuesday (Jul 28), MAS said there will be 26 leaders from the banking, insurance and asset management industries in the panel.
Singapore: Regulator tightens product sales in public arenas Asia Insurance Review 27th Jul 2015
The Monetary Authority of Singapore (MAS) has published a consultation paper outlining measures to safeguard consumers' interests when they buy insurance and other financial products and services at retailers and public places. The financial services regulator also proposes to require financial institutions (FIs) to notify it of their marketing and distribution activities at retailers and public places. This will allow MAS to monitor the extent of such activities and tailor its supervisory approach accordingly. FIs today have various distribution arrangements to market their financial products and services, said MAS in a statement. Some FIs conduct roadshows at shopping mall atria, bus interchanges or MRT stations. There is also increasing interest from FIs to enter tie-ups with retailers, such as those selling consumer goods and groceries. MAS’s proposals seek to address the risk of consumers making purchases of financial products that may be unsuitable for them when they are prospected at retailers or public places.
MAS creates FinTech & Innovation Group, to start in August Channel NewsAsia 27th Jul 2015
There will a new group housed within the Monetary Authority of Singapore (MAS) come August: The FinTech and Innovation Group (FTIG). FTIG will be responsible for regulatory policies and development strategies to facilitate the use of technology to better manage risks, enhance efficiency and strengthen competitiveness in the financial sector, said MAS in a news release on Monday (Jul 27). Mr Sopnendu Mohanty will head the group as Chief FinTech Officer. He joins from Citibank, where he was the Global Head of Consumer Innovation Lab Networks and Programmes. He will report to Ms Jacqueline Loh, MAS' Deputy Managing Director for Monetary Policy and Investment, and Development and International.
Insurer AIA's Singapore operation posts strong performance in first half-year The Straits Times 24th Jul 2015
Insurer AIA Singapore reported strong financial results for the first half of 2015, thanks to a productive agency and more long-term unit-linked protection products. Its value of new business for the six months to May 31 was up 19 per cent to US$142 million, compared with the same period a year earlier. Annualised new premiums, a measure of new business activity, rose 13 per cent to US$225 million from a year ago. New business margin, or the value of new business as a percentage of annualised new premiums, grew to 62.9 per cent.
Guidelines on public selling of financial products The Straits Times 24th Jul 2015
The increasing practice by banks and insurers to hawk credit cards, insurance policies and the like at malls and other public places is set to come under stricter controls. These institutions may soon be required to adhere to new market conduct guidelines, such as ensuring they give consumers proper advice. They may also be obliged to notify the Monetary Authority of Singapore (MAS) of their marketing activities at such places. The proposals are part of an MAS effort to prevent the sale of unsuitable products and deter the harassment of consumers. Yesterday, MAS issued a consultation paper detailing these proposals and is asking for feedback to reach it by Aug 24.
Banks, insurers to face new market conduct when marketing at malls, public places The Straits Times 23rd Jul 2015
Banks and insurers could soon have to adhere to new market conduct guidelines, such as ensuring proper advice, when selling financial products and services at malls and public places. Financial institutions may also be required to notify Monetary Authority of Singapore (MAS) of their marketing activities at such places. This is all part of a proposal by MAS to prevent the sale of unsuitable products and harassment of consumers who could also be confused over the roles of the financial institutions and retailers. MAS has issued a consultation paper detailing the above proposals. Feedback would need to reach MAS by Aug 24.
Singapore Savings Bonds: Good intent, bad timing, say analysts Channel NewsAsia 23rd Jul 2015
Singapore's plan to launch a savings bond to encourage long-term retail savings is unsettling domestic banks and economists who fear this bond will push interest rates up and suck cash out from an already anaemic economy. The new bond, which will begin selling in October, will have a term of 10 years. It will offer the same yields as government bonds or ten times the returns on bank deposits, and can be redeemed without penalty at any point. Such a juicy proposition could cause a flight of cash from bank deposits into these bonds and force interest rates higher as banks compete to attract savers. The government says it will issue a maximum of S$4 billion worth of bonds this year, which is still more than a fifth of deposit growth in 2014.
Health & Life Sciences
Support for clinical trials in Singapore gets a boost The Straits Times 24th Jul 2015
One of the world's top clinical trial support companies has set up its Asia-Pacific headquarters in Singapore, giving a boost to the nation's biomedical sector. Almac, a privately owned company from Northern Ireland with an annual revenue of US$500 million (S$683 million), supports pharmaceutical companies when they conduct trials of new drugs.
Machines give rehab patients a leg-up, reminders and more The Straits Times 24th Jul 2015
Patients recovering from stroke need to train their muscles to work again and the journey back to health for the more than 6,000 people who suffer a stroke each year can be long and tedious. Several projects being worked on in Changi General Hospital's (CGH) Centre for Healthcare Assistive and Robotics Technology (Chart) are to help such patients rehabilitate.
Disaster mental health scheme led by S'pore has trained more than 800 people in the region The Straits Times 24th Jul 2015
More than 800 people in the region have been trained to help their communities cope with mental health issues following disasters, in a massive three-year project spearheaded by Singapore. Launched in 2012, the Disaster Mental Health Programme for Communities in Asia equips government leaders and volunteers with skills to deal with mental problems that arise following large-scale disasters.
Cataract surgery still free in PhilHealth-accredited facilities PhilStar 24th Jul 2015
The Philippine Health Insurance Corp. (PhilHealth) assured the public yesterday that cataract surgeries remain free for its members in accredited facilities, except in eye clinics being investigated for alleged fraudulent claims. In a statement, PhilHealth president and chief executive officer Alexander Padilla said while they withheld payment to some eye centers with dubious claims, “there are 1,826 accredited private and public facilities and over 34,000 health care professionals nationwide through which our members can avail of the benefits, including cataract operations."
Hospitals turn to cutting-edge robots and technology for healthcare assistance The Straits Times 23rd Jul 2015
With Singapore's rapidly-ageing population, there will be more seniors needing care in future, but not enough carers to do the job. This is why hospitals are turning to robots and other assistive technology to ease the burden on the manpower-strapped sector.
More patients choosing C-class wards for subsidies The Straits Times 18th Jul 2015
Patients are increasingly turning to C-class wards, which offer the highest subsidy levels of 65 to 80 per cent of the hospitalisation bill. In 2000, 26 per cent of all public hospital patients opted for C class. Last year, 46 per cent did so.
Scientists at NTU find potential Parkinson's treatment The Straits Times 17th Jul 2015
Scientists from Nanyang Technological University (NTU) have unlocked a potential treatment for Parkinson's disease in the form of existing anti-malaria drugs. Along with scientists from McLean Hospital and Harvard Medical School in the United States, they discovered that chloroquine and amodiaquine could activate a protein called Nurr1, which affects the brain's ability to generate dopamine neurons.
Singapore-made cancer drug enters clinical trials The Straits Times 16th Jul 2015
A new cancer drug, which could offer hope to hundreds of patients each year suffering from a range of cancers - pancreatic, colon and stomach - is being developed by Singapore researchers ; and it has entered clinical trials here. Developed by the Experimental Therapeutic Centre (ETC) and Drug Discovery and Development (D3) units at the Agency for Science, Technology and Research (A*Star), and Duke-NUS Graduate Medical School, the drug homes in on proteins that cause excessive cell growth when they go rogue, leading to cancers.
Lighting the way to bug-free food The Straits Times 14th Jul 2015
Scientists here have seen the light - blue light emitting diodes (LEDs) in refrigerators could keep food poisoning at bay, they have found. National University of Singapore (NUS) researchers discovered that the lights alone, known for being energy savers, are major bug busters capable of killing bacteria that cause food poisoning, including the especially nasty salmonella and E. coli. The LEDs proved particularly effective in cold temperatures and mildly acidic conditions, so the scientists believe they could lead to a chemical-free way of storing fruit and other products.
More suffering chronic pain The Straits Times 14th Jul 2015
Hospitals report rise in patients seeking help amid greater awareness of availability of pain clinics. Thousands of people here suffer from chronic pain and the numbers are going up. Two of the biggest restructured hospitals here are seeing a rise in the number of patients seeking help for various types of chronic pain.
10 victims of bacterial outbreak say they had eaten raw seafood The Straits Times 13th Jul 2015
Authorities here are investigating a message that went viral on Monday that claimed that there is a bacteria outbreak from eating contaminated raw fish. The ministry said that it has been alerted by hospital doctors to an increase in cases of GBS infection.
Parliament: 62 suspected cases of MERS investigated in Singapore, all tested negative The Straits Times 13th Jul 2015
A total of 62 suspected cases of the Middle East Respiratory Syndrome Coronavirus (Mers) have been investigated in Singapore, with all testing negative for the virus. Health Minister Gan Kim Yong, responding to questions in Parliament, said an Inter-Ministerial Committee had been formed since late 2014 to oversee the Government's preparedness against dangerous infectious diseases such as Mers and Ebola.
Mobile health screening project launched in Aljunied, Hougang Today 13th Jul 2015
A pilot programme promoting wellness and health literacy in a more personalised manner via a mobile clinic was today (July 12) launched in Workers’ Party-held Aljunied GRC and Hougang SMC. The Wellness Bus will make its way around these two constituencies to provide screenings for vision, hearing, nutrition and oral and bone health. It is also licensed as a mobile clinic and can thus provide vaccinations against the flu and pneumococcal disease.
CHAS subsidies monitored to prevent fraudulent claims: Health Ministry Channel NewsAsia 13th Jul 2015
The Ministry of Health (MOH), partner clinics of the Community Health Assist Scheme (CHAS) and patients all have a role to play to ensure accountability and prevent fraudulent claims, said Minister of State for Health, Dr Lam Pin Min, in a parliament sitting on Monday (Jul 13). Minister of State for Health Lam Pin Min also reminds patients to keep themselves informed by speaking to partner clinics if they have any queries, and requesting itemised receipts.
Smart glasses for seniors with dementia The Straits Times 10th Jul 2015
Scientists in Singapore are developing intelligent glasses that can recognise different people, for instance, and discreetly remind the user who they are; or tell him the right pills to take, and vibrate or sound an alarm when it is time to do so.
ICT
Singapore: an alternative to Silicon Valley TechinAsia 29th Jul 2015
With the combination of these events, we were able to meet hundreds of developers from all over Southeast Asia. What was amazing about Singapore was that all of the developers we met were young, smart, and hungry to grow their products. They didn’t see the size of their country as a barrier since they knew that good products easily cross international lines. This is important knowledge to have in a country with only 5.4 million people. Silicon Valley alone, in comparison, just recently passed the 3 million people mark. What was also special was the willingness of the developers we met to introduce us to as many people as possible. After a short conversation, many people opened up their networks and introduced us to someone new. This was likely a function of the close proximity in which many of these companies inhabited. Many times the company they introduced us to was simply the door over or the floor above. It was clear that the startup culture in Singapore thrives on coalition and collaboration.
Uber to deliver Xiaomi smartphones in Singapore and Malaysia Reuters 25th Jul 2015
Uber Technologies Inc said on Thursday it would deliver Xiaomi Inc’s new flagship handset, the Mi Note, to buyers in Singapore and Kuala Lumpur in a tie-up that showcases its ambitious expansion into the same-day delivery business. The San Francisco-based firm has been valued at $50 billion by private investors on the assumption that it could turn its hundreds of thousands of active drivers into a delivery fleet that not only transports passengers but also goods.
Sharing rate of online video ads in Singapore lowest in Southeast Asia, finds Unruly data mUmbrella 16th Jul 2015
The share rate of online video ads in Singapore is the lowest in Southeast Asia, according to data from Unruly, a programmatic video firm that helps brands’ content go viral. The rate of sharing of online video ads – the percentage of views that have resulted in shares, in Singapore grew by just 0.5 per cent on last year, while the rate in Thailand – the region’s biggest ad-sharing nation – was 1.6 per cent. Thailand saw the highest number of shares (14 million) and views (963 million) over the year. Indonesia had the second highest share rates of video ads, but with less than half the shares (6 million) as Thailand, fewer views (386 million) and a slightly lower share rate (1.5 per cent). Malaysia’s online ad share rate was just higher than Singapore’s, at 1.1 per cent.
E-books click with more library users in Singapore Straits Times 13th Jul 2015
More readers are borrowing electronic books, or e-books, from libraries, with mobile devices making it easy to read while on the go. As a result, the number of e-books borrowed has almost quadrupled in the past five years. Eleven million were borrowed last year, compared with three million in 2009, according to figures from the National Library Board (NLB). Physical books still trumped their digital counterparts, with 34 million books borrowed last year.
M1 will be the biggest loser once a fourth telco enters the scene: analyst Singapore Business Review 10th Jul 2015
It can’t bundle quad-play services. M1 will be the most impacted once a fourth mobile operator enters singapore’s saturated mobile market. According to CIMB analyst Foong Choong Chen, M1 is disadvantaged because of its largely Singapore mobile focus and lesser ability to bundle quad-play services.
Infrastructure
How Singapore is Building the City of the Future Skift 29th Jul 2015
According Singapore Feeder Cities Borderto MasterCard’s 2015 Global Destination Cities Index, Singapore’s five top feeder markets in order of visitors and visitor spend are: Jakarta, Tokyo, Hong Kong, Manila and Shanghai. However, because the state government has developed the city infrastructure so responsibly and promoted itself on the world stage more aggressively over the last decade, the city is now a magnet for leisure and business travelers from Europe, the Middle East and the Americas. From 2005-2014, Singapore’s total international visitor arrivals jumped from 8.94 million to 15.09 million—an almost 69% increase in one decade. Explore how Singapore is shaping the city of the future:
Singapore as a 'living lab' for urban solutions Eco-Business 28th Jul 2015
Singapore is on the cusp of major infrastructure investments over the next two decades, presenting opportunities to improve its urban landscape and increase regional trade, said experts at a recent panel discussion on future cities in Singapore. An island-wide network of 1,000 sensors, a satellite-based congestion pricing system and a high-speed rail link with Malaysia are some ways Singapore is pursuing technology to give its citizens a better life, said Goh Chee Kiong, executive director of the Singapore Economic Development Board (EDB)’s clean technology and cities, infrastructure & industrial solutions practice. “Singapore has always taken a very long-term view on how we carry out urban planning and invest in the right infrastructure,” Goh told an audience of about 100 public and private sector representatives at the Red Dot Design Museum on 24 June. The panel discussion was organised by Japanese electronics firm Hitachi and US media firm CNN. Explaining the ‘living lab’ concept, Goh said companies can use Singapore as a testbed to pilot and commercialise innovative urban solutions in close collaboration with government agencies.
Tepid showing in executive condo market continues Channel News Asia 28th Jul 2015
Since November last year, the response in the market to new projects has been less than warm. Market watchers say it is a sign that recent projects are adding to the pool of unsold units. The response to the latest batch of executive condominium (ECs) projects has been tepid, with about 2,200 EC units remaining on the shelves as of June 2015, the highest in almost a decade. The largest EC development to date, Sol Acres, received 800 e-applications for the first 707 of its 1,327 units, when subscription closed on Sunday (Jul 26). Booking will open for the 707 units on Aug 22.
Singapore still has key role to play in connecting China with the region: Josephine Teo Straits Times 27th Jul 2015
Singapore is well-placed to continue to be a key node in connecting China with the region in areas of transport, finance and trade, said Senior Minister of State for Finance and Transport Josephine Teo on Monday. Leveraging on Singapore's position at the confluence of major sea and air routes, as well as its role as the second largest offshore yuan centre outside Greater China, Singapore has an "active role" to play in China's "One Belt, One Road" initiative, she said at the inaugural Singapore Regional Business Forum.
US blacklists Singapore shipping firm over N Korean weapons smuggling The Guardian 25th Jul 2015
Company accused of ties with a North Korean firm caught smuggling weapons from Cuba under a cargo of sugar in 2013 The US treasury department has blacklisted a Singapore-based shipping company for allegedly supporting a North Korean firm accused of illicit weapon shipments.
Singapore's Keppel second quarter profit falls 2 percent as rig business falters Reuters 23rd Jul 2015
Singapore-based conglomerate Keppel Corp Ltd's second-quarter net profit fell 2 percent to S$396.7 million ($290.2 million) from a year earlier, weighed down by weak performance in the offshore and marine unit. Keppel, one of the world's largest offshore rig builders, also has business interest in real estate and infrastructure. The weakness in oil market over the past year has been weighing on the rig building business globally. Keppel posted revenue of S$2.6 billion for the quarter ended June 30, down 19 percent from a year earlier, and a net profit of S$756.9 million for the first half of the year. That was slightly short of half of a mean estimate for the full year at S$1.59 billion, based on 21 analysts polled by Thomson Reuters.
Too early to lift property curbs: MAS chief Channel News Asia 22nd Jul 2015
The moribund housing market may have set off a chorus of voices calling for the property cooling measures to be relaxed, but Monetary Authority of Singapore (MAS) managing director Ravi Menon said it is premature to do so as the price correction has been modest, putting paid to hopes among developers and homeowners of a market rebound.
Singapore will benefit from development of Maritime Silk Road: Observers Channel News Asia 22nd Jul 2015
Development of the Maritime Silk Road is expected to bring new business opportunities to Singapore firms particularly with increasing integration among Southeast Asian countries. The 21st Century Maritime Silk Road was first proposed by China in 2013, aimed at fostering collaboration with Southeast Asia, Oceania and Africa. The Maritime Silk Road is part of China's overall 'One Belt, One Road' framework which also includes the land-based Silk Road Economic Belt. The Singapore Business Federation (SBF) is organising the inaugural Singapore Regional Business Forum on Jul 27 with to provide a platform for discussion on business opportunities of the Maritime Silk Road initiative.
One Belt, One Road: S’pore firms ‘have 2-year window’ Today Online 22nd Jul 2015
Businesses in the Republic have about two years to jump on the One Belt, One Road bandwagon if they wish to take greater advantage of opportunities that will arise from the mega Chinese initiative, Singapore Business Federation (SBF) chairman Mr Teo Siong Seng said today (July 22). This is because the Chinese government has set the wheels in motion to realise this vision and has shown that it “doesn’t waste time” when it sets its mind in achieving a goal, Mr Teo said, adding that it is thus crucial to raise awareness on the mega Chinese project among businesses here.
LTA seeks to attract more engineers Straits Times 20th Jul 2015
Looking for a job that's going places? The Land Transport Authority says it is offering just that - especially for job seekers with an engineering background. The authority has even hired a branding and marketing consultant to convince people that the land transport sector provides attractive career choices. The unprecedented move is in anticipation of manpower needs on the back of a fast-expanding land transport network.
Civil Aviation Authority of Singapore appoints new Director-General Channel News Asia 13th Jul 2015
Mr Shum Jin-Chyi Kevin will be appointed Director-General of the Civil Aviation Authority of Singapore (CAAS) with effect from Aug 2, said the Ministry of Transport (MOT) on Monday (Jul 13). Mr Shum, 44, was formerly Director (Comcare & Social Support) in the then-Ministry of Community Development, Youth and Sports, and Director (Social Programmes) in the Ministry of Finance. He currently serves as Deputy Secretary (International) at MOT. Mr Shum will be taking over from Mr Yap Ong Heng, who at 55 will be retiring from the Administration Service, said MOT. Mr Yap has been Director-General of the CAAS since July 2009. “The Ministry of Transport would like to put on record its appreciation to Mr Yap Ong Heng for his significant contributions in his six years as the Director-General of CAAS,” MOT said, lauding him for "successfully (leading) the restructuring of CAAS after the corporatisation of Changi Airport" and "(leading and concluding) numerous Air Services Agreement negotiations".
Singapore leads ASEAN in investment in Vietnam in Jan-Jun TuoiTre News 12th Jul 2015
Singaporean investors topped those from other Southeast Asian countries in investing in Vietnam with 1,428 projects worth US$32.2 billion in the first half of this year, according to figures released by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment this week. Singaporean-owned projects accounted for 54.25 percent of the total number and 60.8 percent of the registered capital when it comes to projects run by investors from Southeast Asia by the end of June, the FIA said in a report on Monday. Malaysia came second with 499 projects with a total investment of $12.06 billion, making up 19 percent of the count and 22.1 percent of the capital.
Singapore's waste disposal needs get a boost Channel News Asia 11th Jul 2015
The Republic's waste disposal needs got a 16.7 million cubic metres boost on Saturday (Jul 11), with the completion of the Phase II development of Semakau Landfill. This size of Phase II is the equivalent of nearly 6,700 Olympic-sized pools. According to the National Environment Agency (NEA), the nation now has the capacity to meet waste disposal needs for the next 20 years and beyond. Phase II was first conceptualised by NEA in 2010 when Singapore's sole landfill at Semakau island was estimated to be filled by 2016. Phase I currently has 6.5 hectres of sea space left. This will be kept as a reserve when landfill operations for Phase II begins in August 2015. The new 157-hectre development cost S$37 million to build.
Manufacturing
Malaysia grabs Singapore’s industrial overspill FT 29th Jul 2015
Iskandar, a Malaysian development zone across the Johor Strait from Singapore, has for many become a cautionary tale against irrational exuberance. Chinese developers have built more apartments than the market can absorb, causing a property glut just as Malaysians are grappling with a slowing economy. But while demand for residential property is weak, demand for industrial land in Nusajaya, one of five “flagship zones” in Iskandar, is booming. This surge in demand has been driven by small and medium-sized enterprises (SMEs) capitalising on closer economic integration between Malaysia and Singapore. Singaporean SMEs face some of the highest land prices in Southeast Asia. In Jurong, for example, in the west of the city state, land sold on 30-year industrial leases fetches between $230 and $720 a square metre. By comparison, freehold land in Nusajaya costs just $310 to $340 a square metre, according to FT Confidential Research, a Financial Times research service. New restrictions on foreign labour in Singapore have also helped to push smaller manufacturers across the border to Malaysia, which has more liberal policies on hiring foreign workers.
TPP
Froman Travels To Malaysia, Singapore After Wrapping Up Mexico Visit World Trade Online 13th Jul 2015
U.S. Trade Representative Michael Froman over the weekend began a July 11-15 trip to Malaysia and Singapore to advance Trans-Pacific Partnership (TTP) negotiations with those countries, USTR announced Monday (July 13). His office did not elaborate on what the focus of his visit would be in either country, and a spokesman did not immediately respond to a request for further comment. But two of the issues that could come up during his meetings in Kuala Lumpur are certain economic preferences for ethnic Malays, which were raised last week by House Ways & Means Committee Chairman Paul Ryan (R-WI), and language in the Trade Promotion Authority (TPA) statute on human trafficking.
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