Singapore Update: General Election Set For September 11

• ​Oct 27-28: EEI's Asian Energy Financial and Investment Conference
• JETRO (Japan External Trade Organization) is currently conducting its "Survey on the Regional Headquarters (RHQ) Functions of Companies in Singapore." The survey aims to understand trends and characteristics of operating a RHQ function in Singapore. This year the US-ASEAN Business Council is partnering with JETRO to include US companies in the survey. Please find the survey here.  The deadline to complete the survey is September 15, 2015.  The aggregated results of the survey will be distributed to members in November.  Personal information provided in this survey will be used solely for reporting the aggregated survey results.

General Election Set For September 11

On August 25, Singapore dissolved Parliament and scheduled the next general election for September 11.   While the election is required to take place before January 2017, the ruling People’s Action Party (PAP) has judged that a strong sense of national pride during the country’s 50^th Anniversary celebrations will strengthen its support.  A sense of national unity was also on display in March, when thousands of Singaporeans paid their last respects to the country’s first Prime Minister Mr. Lee Kuan Yew.  In recent years the popularity of the PAP, led by Prime Minister Lee Hsien Loong, is perceived to have fallen slightly. In 2011, it won 81 of 87 parliamentary seats and a lower share of the popular vote, which have been attributed to concerns about standard of living, widening income inequality, transport costs and foreign labor. The government has responded by trying to address many of these concerns by tightening work-visa requirements and adjusting the economic-growth model.  To access the Council’s update on Singapore’s Budget 2015, please click here.

Singapore’s Renewable Energy Future

Singapore has long been viewed as a role model for sustainable development in Asia.  Due to the country’s small physical size, high population density, and lack of natural water resources, Singapore has overcome a number of obstacles to effectively develop forms of commercially feasible and sustainable sources of renewable energy.  The country has addressed a lack of natural water resources to establish a robust and developed water supply, and has built liquefied natural gas (LNG) gas terminals, which will contribute up to 95.5 percent of fuel for electricity generation in the future.  However, a number of environmental challenges remain. An increasing population will require resources to be utilized more effectively, and recycling rates must be boosted as the country becomes more densely populated.  High emissions from the transport sector must also be reduced by encouraging more people to use public transport systems.  In order to combat these problems, the country must turn to new forms of renewable energy.  Prospects for geothermal energy are low, and a lack of major river systems prevents the country from harnessing hydroelectric power.  Solar energy has emerged as the clear choice as Singapore continues to grow and prosper.  It remains commercially feasible, particularly for large scale institutions.  As solar energy’s viability continues to grow, some of the foremost experts in the field have emerged to meet the growing demand for solar energy in Singapore.  The three founding directors of Singapore’s foremost solar systems integrator recently launched a new company called Energetix Pte Ltd, which will develop projects and offer general consultancy for the renewable energy sector.  Singapore has maintained its position as one of the leading nations in renewable energy development, and is continuing to meet the needs of its growing population by seeking out alternative and feasible forms of renewable energy.

SK Energy International to Supply ULSFO in Singapore

SK Energy International, a Singaporean company trading in crude oil and petroleum products, has commenced the supply of Ultra Low Sulfur Fuel Oil (ULSFO) marine fuel oil to Singapore.  ULSFO marine fuel oil contains a 0.10 percent maximum sulfur content, with typical sulfur levels of 0.087 percent.  A number of countries have recorded increased use of ULSFO marine fuel oil following regulations in North American and European Emission Control Areas (ECAs) restricting the use of high sulfur content marine fuel oil.  Recently, the sulfur content of marine fuel oils has increasingly become a concern, due to its impact on the environment and on refining cost calculations in crude oil.  The use of ULSFO marine fuel oil is also expected to drive down costs, as, with a viscosity of 20 to 30 cST at 50°C, vessels will be able to save on fuel consumption and decrease sludge production during the purification process.  It can also be used in slow, medium, and high speed marine engines that are used in the marine transport trade, and is compliant and compatible with all other ISO827 RME180 specification rules.  SK Energy has hired barges exclusively for the delivery of this product to Singapore in order to ensure quality control and to reduce risk of contamination issues.  Legislative effects have typically had knock on effects on bunker quality, and the changes in regulations in ECAs in the US and Europe have affected the types of marine fuel oil typically used elsewhere in the world.

National Affairs
Singapore's government has called a snap general election for 11 September BBC 25 Aug 2015

The governing People's Action Party (PAP) has held power for more than 50 years. It will be the first election since the party's founder and Singapore's first prime minister, Lee Kuan Yew, died in March. The PAP controls 80 out of 87 seats in parliament, but analysts say issues such as the high cost of living and immigration have dented its popularity. Singapore Prime Minister Lee Hsien Loong, who is the son of Lee Kuan Yew, said in a Facebook post that this vote would help decide Singapore's long term future. "You will be choosing the team to work with you for the next 15-20 years, and setting the direction for Singapore for the next 50 years," he wrote. Mr Lee has held power for 11 years and is calling this election more than a year before he is constitutionally required to do so.

Singapore Election Set for Sept. 11 WSJ 25 Aug 2015
Singapore dissolved Parliament on Tuesday and set Sept. 11 for a general election in which the ruling party will seek another five-year mandate to govern the country as economic growth slows. The People’s Action Party, headed by Prime Minister Lee Hsien Loong, has led the small, but prosperous nation since it gained independence 50 years ago, but its popularity has slipped in recent years. In 2011, the PAP won 81 of 87 parliamentary seats, but received its lowest share of the popular vote since Singapore became a nation—60.1% compared with nearly 67% in 2006. Critics attributed the decline in popular-vote share to growing concern over rising housing and transport costs, an influx of foreign labor and widening income inequality. Since then, Singapore’s government has attempted to tackle voter discontent by tightening work-visa requirements and making it tougher for foreigners to attain permanent residency. The moves have been welcomed by voters, but have forced Singapore to move away from its previous economic-growth model, which used liberal immigration policies to fuel rapid economic growth.

Singapore at 50: Population Pressure and the War for Talent Gallup 24th Aug 2015
As Singapore nears its 50th anniversary, the city-state faces intense global competition for talent. Singapore comes to this competition -- not to mention to its half-century mark -- in a seemingly strong position. The city-state's GDP growth has averaged 6.8% annually since 1976, and the country's financial reserves -- though they are kept deliberately vague -- don't appear to be in danger of drying up soon. Though the country's population has more than doubled from just over 2 million in 1970 to 5.47 million in 2014, its unemployment is 2%, and the economy is virtually at full employment. Singapore's national well-being is the highest it has been since the global financial downturn: 43% of respondents in 2014 rated their lives highly enough to be considered "thriving," while only 1% of respondents rated their lives poorly enough to be considered "suffering." This impressive developmental trajectory is hard for a country to top, but many of Singapore's global competitors are cities. Hong Kong has long been seen as a rival for pole position as a financial hub in Asia, and with "megacities" -- cities with more than 10 million in population -- on the rise, the list of Singapore's potential rivals expands. From 1950 to 1960, 60% of the growth of megacities was in the developing world; between 2000 and 2010, the developing world accounted for 90%. The fastest-growing megacities include two in Singapore's own backyard in Southeast Asia: Bangkok in Thailand, and Jakarta in Indonesia.

Singapore’s Lee Increases Social Support Ahead of Elections Bloomberg 23rd Aug 2015
Singapore Prime Minister Lee Hsien Loong pledged more social measures including making public housing more affordable, as the city readies for elections. “Soon, I will be calling elections to ask for your mandate to take Singapore into our next phase,” Lee said in a televised speech at the National Day Rally on Sunday as the country celebrated its 50th year of independence this month. “Singapore is at a turning point.” Lee’s ruling People’s Action Party -- founded by his father and former prime minister, the late Lee Kuan Yew -- is managing issues from rising costs to increasing frustration among citizens against an influx of foreign workers. The PAP in recent years has sought to shore up support among voters by boosting spending on lower-income families and the elderly after losing some districts in the 2011 ballot. The election comes as Singapore’s export-dependent economy has been hurt by slowing growth in China, with uneven recoveries in the U.S. and Europe damping demand for Asian exports. The government slashed the upper end of its growth forecast for 2015 after the economy shrank last quarter, predicting an expansion of 2 percent to 2.5 percent this year.

United States and Singapore Review Implementation of the Free Trade Agreement Environment Chapter and the Biennial Review on Cooperation on Environmental Matters U.S. Department of State 7th Aug 2015
The United States and the Republic of Singapore met on August 3, 2015 in Washington, D.C. and discussed their efforts to implement the obligations in the Environment Chapter of the Free Trade Agreement (FTA) and progress on actions to improve environmental protection. The United States discussed the adoption and implementation of the national strategies on combating wildlife trafficking and illegal, unreported, and unregulated (IUU) fishing and the establishment of new regulations on air quality and automobile emissions. The United States also reported on environmental law enforcement actions by the Department of Justice and other U.S. agencies, and efforts to increase public participation.

Singapore may hike vehicle entry fee in tit-for-tat move The Malaysian Insider 4th Aug 2015
Singapore's transport ministry said today it will consider matching the vehicle entry fee that Malaysia is imposing from October 1 on private vehicles entering its borders from the Republic. Noting that the fee “discriminates against Singapore vehicles”, a ministry spokesperson said in response to TODAY’s queries: “We note that Malaysia’s new vehicle entry fee will be imposed only on foreign-registered vehicles entering Malaysia via Johor. This discriminates against Singapore vehicles, and we will consider matching it in some form after we have studied its implementation.”

Singapore motorists entering Malaysia must register vehicles; RM20 entry fee starts on Oct 1 The Straits Times 2nd Aug 2015
Singapore vehicles entering Malaysia are required to be registered with Malaysia's Road Transport Department (RTD) or they would be refused entry in a new rule that will come into effect on Sept 1. Deputy Transport Minister Datuk Abdul Aziz Kaprawi said the mandatory registration applied to all private vehicles, public buses, taxis, goods vehicles as well as diplomatic cars, The Star reported. The online registration would start on Aug 15, and vehicle owners are required to pay RM10 (S$3.60) for the road charge, which is valid for five years.

Singapore Appoints Major-General Perry Lim Cheng Yeow As New Chief Of Defense Forces Defense World 31st Jul 2015
Singapore has appointed Major-General Perry Lim Cheng Yeow, Chief of Army as a new chief of Defense Forces. From 18th August, MG Lim will succeed Lieutenant-General (LG) Ng Chee Meng, the Singapore Defense Forces announced Today. Brigadier-General (BG) Melvyn Ong Su Kiat, Chief Guards Officer, will take over as Chief of Army on 14 August 2015. As the Chief of Army since 21 March 2014, MG Lim maintained a high state of operational readiness in the Army. To strengthen the training and safety systems within the Army, he oversaw the operationalization of the Murai Urban Live Firing Facility (MULFAC) and Airborne-Trooper Training Facility (ATF) that enhanced training effectiveness while ensuring the safety of training troops.

Petronas president to speak at upcoming Singapore energy summit in October Borneo Post 18th Aug 2015
Petronas president and group chief executive Datuk Wan Zulkiflee Wan Ariff in will be among top energy leaders to speak at the upcoming Singapore Energy Summit in October. The summit will be held in conjunction with Singapore International Energy Week (SIEW) 2015 slated for Oct 26-30 at the Marina Bay Sands Expo and Convention Centre here. Wan Zulkiflee is one of the panel speakers for a session at the summit entitled ‘Asia’s New Energy Frontiers’, which examines Asia’s role and its potential to power changes in the global energy system to ensure a sustainable energy future.

Singapore International Energy Week 2015 to Commemorate Singapore's Energy Achievements PR Newswire 17th Aug 2015
This year's Singapore International Energy Week (SIEW) 2015 will feature two unique events to commemorate the nation's 50th anniversary: the Singapore Energy Story exhibition and the SG50 Golden Jubilee reception. The Singapore Energy Story exhibition will bring to life the critical role that energy has played in powering Singapore's growth. Through interactive exhibits, viewers will learn about Singapore's key energy milestones, the individuals behind them, and the steps ahead to ensure a sustainable energy future for Singapore. This exhibition will be open to the public from 27-30 October 2015 at the Sands Expo and Convention Centre during SIEW. Post-SIEW, the exhibition will be displayed at the ARTrium of the Ministry of Communications and Information at Hill Street, from 23 November to 17 December 2015. Members of the public are encouraged to view the exhibition to learn more about Singapore's energy story. Admission is free.

The next SG50: Singapore Green 50 Straits Times 10th Aug 2015
As we commemorate 50 years of blissful independence, it is timely that we take a moment to reminisce about our environmental journey over the last decades. It all started with the bold vision of our first prime minister, Mr Lee Kuan Yew, envisioning and pioneering a garden city which once used to have two thirds of its population dwelling in squatter settlements. We have come a long way since the tree-planting campaign in 1963 and the Keep Singapore Clean campaign in 1968. Today, we stand tall among the Asian tigers as a hallmark of environmental excellence and a role model for sustainable development. We have overcome our lack of natural water resources by establishing a robust and diversified water supply.

Singapore solar veterans start new company Energetix PV Magazine 6th Aug 2015
After close to a decade at the helm of Singapore’s foremost solar systems integrator, the three founding directors of Phoenix Solar Pte Ltd – Christophe Inglin, Ho Chee Ming and Chee Yeen Yee – have set their sights on new horizons. With a combined 50 years of Asia experience in the photovoltaics (PV) industry, the trio have launched a new company, Energetix Pte Ltd. The company will develop projects and offer general consultancy for the renewable energy sector. "PV systems are becoming cost competitive in more and more countries in South East Asia, without any need for subsidies. This opens growing opportunities for us to develop PV power plants and sell solar electricity at commercially viable prices," said Christophe Inglin, Managing Director of Energetix.

UK and ASEAN: forging stronger bonds Rappler 2nd Aug 2015
I am delighted to have made my first major trip overseas as Business Secretary to South East Asia. Having spent some time living and working in Singapore, it is a pleasure to be back in a region that I love so well; but beyond the vibrancy of the people, the culture and happy memories, there are many very strong economic reasons for visiting South East Asia. South East Asia is the UK’s 8th biggest export market, with £13.8 billion in exports per annum. That’s 3 times more than we export to Brazil, and twice what we export to India. As part of the Government’s efforts to increase UK exports to £1 trillion a year and to get 100,000 more UK companies exporting by 2020, the first trade trip of this Parliament brought delegates from our Northern Powerhouse to a region forecast to grow at 5% this year and with potential to unlock huge opportunities for jobs and growth in the UK.

SkillsFuture: Engineering Singapore’s Energy Sector Growth The Establishment Post 31st Jul 2015
Singapore will need some 10,000 technical professionals across the energy sector to maintain its economic growth over the next 10 years, according to Energy Market Authority (EMA), a statutory board under the Singapore’s Ministry of Trade and Industry (MTI). But, once the key pillar holding up Singapore’s economy, engineering as a career has been slowly losing ground over the years. Young Singaporean have been increasingly drawn to the prospect of more glamorous, higher paying jobs in the banking and finance sectors. According to Ministry of Manpower (MOM) data, four of the top 10 professions in Singapore with the biggest number of vacancies today are engineering-related.

SK Energy Starts ULSFO Supply in Singapore Ship & Bunker 31st Jul 2015
SK Energy International (SK Energy) has started to supply "ULSFO" marine fuel oil with a maximum 0.10 percent sulfur content in Singapore, the supplier has told Ship & Bunker. SK Energy says it has hired exclusive barges for product delivery, in order to ensure quality standards and to make sure there are no contamination issues during transportation. The product, which is also being supplied in South Korea and Rotterdam, is said to be fully compliant with, and compatible with all other, ISO8217 RME180 specification fuels.

Singapore mulls currency devaluation The Rakyat Post 17th Aug 2015
Singapore is caught between a rock and a hard place: easing its exchange rate-based monetary policy would strengthen its export competitiveness after China’s devaluation of its yuan but may drive out capital and raise borrowing costs in a slow economy. Shrinking factory output, an economic contraction and months of falling consumer prices have revived speculation the Monetary Authority of Singapore (MAS) may ease policy at its next review in October. China’s currency devaluation to prop up the world’s second-largest economy has only added to the expectations. Yet, the MAS said last week its current monetary policy remains appropriate.

Singapore banks sees benefits as yuan devaluation boosts rates Singapore Business Review 13th Aug 2015
Singapore's two largest banks said they stand to benefit from higher local interest rates and the weakening in the city's currency that followed the recent devaluation of the Chinese yuan. Executives from DBS Group Holdings Ltd and Oversea-Chinese Banking Corp said the drop in the Singapore dollar should support local interest rates, which in turn is positive for the banks' earnings. The Chinese yuan recorded its biggest two-day slump in 21 years this week amid concerns about a further economic slowdown in Asia's biggest economy, where the biggest Singaporean banks have been growing their business.

Singapore’s Shrinking Economy Worsens Bank Risk as Loans Slump Bloomberg 11th Aug 2015
Slumping property and oil prices have dragged a gauge of Singaporean banks’ loan quality to the worst in six years, inflating their borrowing costs. Lenders have placed 2.3 percent of their loan books in a “special mention” category that signals potential weakness, the highest since 2009. The extra yield investors demand to hold DBS Group Holdings Ltd. 2019 dollar notes over Treasuries surged to a record 87 basis points last month. Similar measures for United Overseas Bank Ltd. and Oversea-Chinese Banking Corp. are the highest in at least six months.

Singapore: 1H private health premium down 34% y-o-y ahead of launch of public health plan Asia Insurance Review 7th Aug 2015
New health insurance premiums in Singapore saw a 34% y-o-y drop for the first six months of 2015. A slow-down in the sales of Integrated Shield Plans (IP) has been observed as consumers adopt a wait-and-see approach with the impending start of MediShield Life - a mandatory universal health insurance scheme administered by the Central Provident Fund (CPF) Board - on 1 November this year, according to Life Insurance Association (LIA) of Singapore. New health insurance premium recorded was S$91 million (US$66.75 million), of which 87% went to IPs and IP riders which cover deductibles and/or co-insurance. Dr Khoo Kah Siang, President of LIA Singapore, said: “We believe that as more people gain clarity on the benefits provided by MediShield Life, there will be those who will seek to satisfy their needs for higher levels of coverage and additional benefits through Integrated Plans and other health insurance plans available in the market.”

Direct purchase insurance sees fair progress The Straits Times 7th Aug 2015
The launch of Direct Purchase Insurance (DPI) by life insurers in early April resulted in fewer than 200 policies being sold up to June 30 amounting to almost $200,000 in weighted new premiums. The Life Insurance Association (LIA) disclosed the numbers at a briefing yesterday on its performance in the first half of the year. DPI products are basic life plans sold without financial advice and bought directly from insurers' customer service centres or websites. From April 7 to June 30, 193 of these policies were sold, of which 97 per cent were regular-premium term-life policies. These plans provide affordable protection and are suitable for people looking for basic family protection.

SGX says securities, derivatives, commodities trading increased in July The Straits Times 6th Aug 2015
Singapore Exchange (SGX) said securities, derivatives and commodities activities in July increased from a year ago. The average daily trading value of securities last month was S$1.1 billion - down 7 per cent month on month but up 15 per cent year on year, SGX said on Thursday. Total turnover for securities was S$24.2 billion, down 2 per cent month on month but up 15 per cent from the year-ago period. In July, ETF trading increased 24 per cent to $256 million year on year. Catalist had three new companies, raising S$47 million and bringing total number of listed companies to 162. The total number of listed securities is now 770.

Deteriorating ASEAN loans threaten Singapore’s largest lenders Singapore Business Review 5th Aug 2015
The rising number of ASEAN non-performing loans (NPLs) is a key threat for Singapore’s three largest banks, a report by Credit Suisse revealed. In particular, UOB's and OCBC's ASEAN exposure is likely to remain under the scanner in the second half, as any deterioration could increase earnings risks. Credit Suisse noted that UOB is most exposed to ASEAN among peers, while DBS is the least exposed to ASEAN-related credit risks and NIM pressure. “While we remain comfortable about UOB's relatively better liquidity and provisioning levels, the market sentiment is likely to be muted. [UOB’s] management appears quite confident about the asset quality of the Malaysia book, it appears more concerned about Indonesia,” the report said.

Singapore's bank lending hits five-month high in June Channel NewsAsia 31st Jul 2015
Singapore's total bank lending rose for the second straight month and hit a five-month high in June. This came on the back of higher loans in the building and construction sector as well as general commerce. Latest data from the Monetary Authority of Singapore (MAS) released on Friday (Jul 31) showed that total loans and advances by domestic banks amounted to S$606.8 billion last month, the highest since January. This is also 1.5 per cent higher from S$597.8 billion recorded a year earlier. Total bank lending to businesses rose 2.3 per cent month-on-month to S$368.1 billion last month. Contributing to the rise were loans to the building and construction sector which increased 11.7 per cent on-month to S$116.3 billion, and credit for general commerce grew 2.9 per cent to S$74.9 billion.

Most people here concerned about food waste: Poll Straits Times 11th Aug 2015
Nine out of 10 people here are concerned about Singapore's food waste, a new survey has found. The majority also want food and beverage (F&B) companies here to donate their unsold and near-expiry food that is safe to eat to the needy or sell it at a discount.

Myanmar Brewery dispute headed toward the Singapore High Court with filing Myanmar Times 3rd Aug 2015
Military-Linked Myanmar Economic Holdings Limited (MEHL) has asked a Singapore court to order its partner in Myanmar Brewery to sell its stake by August 20, according to a statement. Myanmar Brewery is the country’s leading brewer, churning out Myanmar Beer as well as Tiger Beer under contract. The dispute stems from the 2012 sale of control of Singapore-listed Fraser and Neave, which is MEHL’s partner in Myanmar Brewery. In 2014, MEHL won a ruling from a Singapore arbitration tribunal that its right of first refusal on its partner’s shares in the brewery had been ignored with the 2012 sale.

Radiography profession gets a boost Today 21st Aug 2015
Radiographers and radiation therapists will get a boost in career opportunities next year, Health Minister Gan Kim Yong said on August 20. Firstly, statutory regulation and registration will be introduced for diagnostic radiographers and radiation therapists under the Allied Health Professions Act. Speaking at the 20th Asia-Australasia Conference of Radiologic Technologists, the minister also announced two new degree programmes — in diagnostic radiography and radiation therapy. Both four-year programmes will be offered by the Singapore Institute of Technology.

Big Data Collaboration To Improve Chronic Disease Management Asian Scientist 20th Aug 2015
Duke-National University of Singapore Graduate Medical School Singapore (Duke-NUS) and Holmusk, a global tele-health platform, have entered an agreement to collaborate on using big data in healthcare. The collaboration will focus on addressing ways to improve care management for diabetes and mental health. The aim is to leverage information collected from personal health records, medical and fitness devices, as well as more traditional sources of health data such as medical records, claims data and clinical research.

Bill to regulate human biomedical research passed The Straits Times 19th Aug 2015
A Bill to protect people whose body tissues are used for research was given the nod in Parliament yesterday. It sets out what researchers can and must do, and the penalties for failing to adhere to the rules. The fines are of up to $100,000 and the maximum jail term is 10 years.

Work to communicate impact of changes to integrated shield plans ongoing: Lam Channel NewsAsia 19th Aug 2015
Changes to integrated shield plan premiums when MediShield Life kicks in at the end of this year is a main concern raised by callers during a talk show on 938LIVE on Wednesday (Aug 19). Minister of State for Health Lam Pin Min was a special guest on the show, and fielded questions from members of the public. Dr Lam also spoke on efforts by the Health Ministry to tackle healthcare costs over the last few years. Dr Lam said that going forward, one of the areas that needs to be developed is primary care and getting people to head to family physicians first before going to an acute hospital.

Pharma giant aims to boost heart health product sales The Straits Times 18th Aug 2015
Abbott Laboratories has moved the head of its vascular business for the Asia-Pacific region to Singapore in line with plans to intensify efforts to market its vascular products in Asia. Abbott's divisional vice-president for medical affairs and product performance (vascular), Dr Krishna Sudhir, said the company, which derives 30 per cent of product sales from Asia, expects demand in Asia for its cardiovascular products to grow more than in Europe.

Upgrading of IMH is ongoing: Health Ministry Channel NewsAsia 18th Aug 2015
To offer better care to patients and meet the needs of the population, the Institute of Mental Health's (IMH) infrastructure is being upgraded progressively, Senior Minister of State for the Ministry of Health Amy Khor said in Parliament on Tuesday (Aug 18).

Keeping healthcare affordable will continue to be Gan's focus The Straits Times 17th Aug 2015
Health Minister Gan Kim Yong said that his focus will continue to be on keeping healthcare costs affordable, even if the issue does not feature in the coming elections the way it did the last round. Mr Gan was speaking at a press conference to introduce the People's Action Party (PAP) team that will stand in Chua Chu Kang GRC. Mr Gan listed out the programmes the Government has rolled out in the past four years to bring healthcare costs down, but stressed that his ministry has not become complacent about the issue.

Parliament: Better to cap claims than hospital bills, says Health Minister The Straits Times 17th Aug 2015
It is better to provide higher insurance coverage than to cap bills in subsidised classes, said Health Minister Gan Kim Yong. Responding to a question from Nominated MP K. Karthikeyan, Mr Gan said in a written parliamentary reply on Monday: "Setting caps on hospital bills may inadvertently encourage wasteful consumption." This is because doctors might order more tests than the patient needs, simply because "any expenses above the cap will be 'free' to the patients", he added.

Singapore's medtech sector to get two growth boosts The Business Times 14th Aug 2015
Medical technology (medtech) in Singapore - a sector which industry watchers have said is one to watch this year - got a fillip from two announcements on Wednesday. In the first development, EDBI, the corporate investment arm of the Singapore Economic Development Board, announced that it has invested in Massachusetts-based life science tools company Rapid Micro Biosystems (RMB) in a new, expanded Series C round. In the other development, homegrown accelerator JFDI has partnered Germany's Medical Innovations Incubator (MII) to "power" pioneering medtech startup bootcamps and an accelerator in Germany.

More resources to be devoted to care for those with dementia: Health Minister Channel News Asia 6th Aug 2015
More resources will be devoted to care for those with dementia in the coming days, according to Health Minister Gan Kim Yong on Thursday (Jul 30). In his address at the ASEAN Neuroscience 2015 event, Mr Gan said neuroscience is “one of the frontiers in medicine that is rapidly evolving”. He added the effective management of neurological diseases is important, as Singapore faces the prospect of an ageing population.

NTU launches new PhD programme in medicine AsiaOne 5th Aug 2015
Nanyang Technological University (NTU) is giving Singapore's talent pool in medical research a shot in the arm with the launch of a new PhD programme in medicine. The four-year PhD programme by research will be offered by NTU's Lee Kong Chian School of Medicine (LKCMedicine), and will kick off in January 2016. It will have an initial intake of 10 students which will be increased gradually.

NUS medical school sees more diverse student mix Asia One 5th Aug 2015
A revamp in admissions has resulted in a better student mix at the National University of Singapore (NUS) Yong Loo Lin School of Medicine. Since a new admission system which uses a series of interviews came into effect in 2013, the faculty has drawn more polytechnic graduates and students from a wider range of junior colleges.

Alexandra Hospital to reopen in phases starting next Tuesday Channel News Asia 4th Aug 2015
Alexandra Hospital will reopen in phases starting next Tuesday (Aug 11), its new management Sengkang Health said.

Test kit to differentiate mozzie viruses The Straits Times 3rd Aug 2015
Researchers here have developed a diagnostic kit that can differentiate between the dengue and chikungunya viruses in a single test. The kit devised by a team from Republic Polytechnic (RP) and the National University of Singapore (NUS) can help prevent one virus from being mistaken for the other.

All Singapore citizens, PRs to have lifelong health insurance from Nov 1 The Business Times 2nd Aug 2015
THE national lifelong insurance scheme MediShield Life will begin on Nov 1 and cover hospital admissions for all Singapore citizens and permanent residents, the Singapore Ministry of Health announced on Sunday. All Singapore households will receive an introductory booklet in August.

Singapore set to blaze digital innovation trail for insurance in Asia Asia One 31st Jul 2015
SINGAPORE is primed to lead the way in the insurance industry's digital revolution in Asia with the help of British insurer Aviva plc, which has a headstart in this area. It follows an agreement between the British government and the Monetary Authority of Singapore to collaborate and promote digital innovation initiatives in insurance, here and across Asia.

12-member Medishield Life Council appointed by Minister of Health The Straits Times 30th Jul 2015
A 12-member body has been appointed to help ensure a smooth transition from MediShield to MediShield Life later this year. The MediShield Life Council will be established from Saturday (Aug 1) and will provide advice to Health Minister Gan Kim Yong, said the Ministry of Health (MOH) in a press release on Thursday.

Is Singapore still relevant after 50? An entrepreneurial view. Tech in Asia 3rd Aug 2015
In a recent article “Why a safe job is considered risky business in Singapore” on the Singapore Straits Times, the author laments the lack of risk-taking by Singaporeans. The preference is mainly for iron rice bowl careers. This is an unfortunate turn as previous generations of Singaporeans were entrepreneurs and risk-takers. This is why despite much government efforts to promote tech entrepreneurship in Launchpad@one-North, the ecosystem has been anecdotally dominated by hungry and driven foreigners who were more keen at risk-taking. A significant mindset shift needs to be done at the grassroots level, starting from the individual. The stigma of entrepreneurship has to be lifted off.

Chart of the Day: Singapore has Asia’s most expensive mobile calling rates Singapore Business Review 31st Jul 2015
Pricing stands at US$7.1 cents per minute. Calling is way more expensive in Singapore compared to other Asian countries, according to this chart from DBS. Voice pricing in Singapore generates a revenue per minute of US$7.1 cents, almost double the US$3.7 cents in Malaysia.

M-commerce: Singapore behind the SEA curve in shopping Digital News Asia 30th Jul 2015
SINGAPORE mobile Internet users trailed behind their South-East Asian neighbours – including Vietnam – when it came to making a mobile shopping purchase in 2014, with only the Philippines faring worse, according to a MasterCard Mobile Shopping Survey. Only a third of respondents in Singapore with mobile Internet access made a mobile shopping purchase in 2014 (36.7%), up from the 31.4% in 2013, MasterCard said in a statement. But the Singapore 2014 numbers are still below other South-East Asian nations, with Thailand recording 58.8%, followed by Indonesia (54.9%), Malaysia (45.6%), Vietnam (45.2%) and finally, the Philippines at 34%.

More will be done to improve rail reliability: Lui Today Online 7th Aug 2015
The rail network has improved since 2011 in terms of reliability and capacity, but these improvements are not enough and more will be done to improve the maintenance culture and upgrade older rail lines, assured Transport Minister Lui Tuck Yew today (Aug 6). After the July 7 North-South and East-West MRT lines breakdown left 250,000 commuters stranded across the island, Mr Lui said it was “natural” for commuters to question if reliability has improved since 2011, when two major breakdowns occurred within days of each other.

Singapore parliament approves its AIIB membership Ecns.com 18 Aug 2015
Singapore's parliament has approved its attempt to become a founding member of the China-led Asian Infrastructure Investment Bank, Channel NewsAsia (CNA) reported on Monday. With the passing of the Bill, Singapore is set to contribute 250 million U.S. dollars to the Bank, giving Singapore 0.48 percent of the total voting share. In response to query over whether Singapore's joining in will give benefits to the country as well as its people, Senior Minister of State for Finance Josephine Teo said AIIB will promote opportunities for local SMEs.

Locating SIT in Punggol 'a sensible move' Straits Times 26 Aug 2015
The move to site the Singapore Institute of Technology (SIT) in Punggol was a natural one, as the estate is one of the few left in Singapore with enough space to accommodate it, experts said. They added that infrastructural developments in the pipeline will also be more than adequate to cater to the influx of students commuting in and out of the area when the campus is completed.

Parliament: S'pore can be a key player in Asian Infrastructure Investment Bank Straits Times 17 Aug 2015
Singapore may seem like a small player among its partners in the Asian Infrastructure Investment Bank (AIIB) but it can still contribute significantly, while ensuring that the Republic's views are heard, said backbencher Ong Teng Koon. For instance, Singapore's "credibility in forging clean and efficient institutions will be valuable, and may give us a say in how the corporate governance structures of the AIIB are formulated," added the MP for Sembawang GRC on Monday.