| Regional Affairs
Study to be conducted to assess impact of 2015's haze in ASEAN Channel News Asia 4th May 2016
A study to assess the economic, health and social impact of the 2015 haze on Southeast Asia will be conducted, with the ASEAN Secretariat tasked to collate information from the various countries. This was announced by Singapore's Environment and Water Resources Minister, Masagos Zulkifli, at the end of the 18th Meeting of the ASEAN Sub-Regional Ministerial Steering Committee (MSC) on Transboundary Haze Pollution on Wednesday (May 4). The meeting, attended by ministers from Singapore, Brunei, Thailand, Indonesia and Malaysia, was held in Singapore and chaired by Mr Masagos. Channel NewsAsia understands the regional study was proposed by Malaysia, with the aim of assessing the impact of last year's haze, which reached record Pollutant Standards Index (PSI) levels and cost billions in economic damage to the region.
Singapore's Competition Commission leads effort to align competition policy and law in ASEAN Channel News Asia 27th Apr 2016
The Competition Commission of Singapore (CCS) will lead efforts to develop an ASEAN Competition Policy and Law (CPL) Programme in order to promote collaboration amongst competition agencies in the region, said Trade and Industry Minister (Trade) Lim Hng Kiang on Wednesday (Apr 27). Speaking at the International Competition Network's annual conference, which CCS is hosting this year, Mr Lim said the CPL Programme will contribute towards the goal of alignment of competition policy and law in ASEAN. He said it will also help foster a culture of fair competition to create a level playing field for all businesses. “Closer relationships between businesses, government agencies and competition authorities are the basis for greater convergence and harmonisation of competition policy and law regimes,” said Mr Lim.
National Affairs
Singapore breaks into world’s ten top countries for FDI Singapore Business Review 5th May 2016
Singapore has been crowned the tenth most attractive nation in the world for foreign direct investment (FDI), jumping ahead of economies such as Switzerland and Sweden, according to A.T. Kearney’s (A.T.) FDI Confidence Index. Soon Gee Chua, Partner and Head of Southeast Asia at A.T., notes that Singapore has established itself as a regional financial hub. Its robust economy, stable political environment, corruption-free government and educated talent pool have made Singapore an alluring destination for global companies. “Singapore is consistently ranked as one of the easiest places to do business. That has seen major global companies set up their regional headquarters here,” Chua adds. The Lion City jumped five places—the biggest rise in rankings—to take the 10th spot in 2016’s index. Occupying the first to ninth places respectively were US, China, Canada, Germany, UK, Japan, Australia, France and India. Meanwhile, the index also reveals that only about 3 in 10 (31%) respondents were confident about the city-state’s economic outlook over the next three years, compared to a year ago.
On a familiar battleground — Bukit Batok — a decades-long fight resumes TODAY 30th Apr 2016
In seven days, Bukit Batok residents will head to the ballot box and choose, once again, between the People’s Action Party (PAP) and the Singapore Democratic Party (SDP) — marking a fresh chapter in a battle that stretches back more than two decades, when the SDP came close to winning the ward twice in 1988 and 1991, before it was subsumed into Bukit Timah GRC and later, Jurong GRC. In that time, the sleepy hamlet in the West — home to almost 26,000 voters — has swung its support firmly behind the PAP, so much so that the ruling party’s candidate David Ong won 73 per cent of the vote at last September’s General Election, where Bukit Batok was carved out as a Single-Member Constituency (SMC) for the first time in 18 years. Political analysts and others around the island will be watching the outcome of next Saturday’s (May 7) vote keenly in a bid to get answers to several questions, not least whether there is enough lingering sentiment from the GE to sweep the PAP to another lopsided win.
Trade associations and chambers have to play more active role: Experts Channel NewsAsia 29th Apr 2016
Trade associations and chambers (TACs) in Singapore will have to step up and play a more active role to bring benefits to its members, industry players told Channel NewsAsia. In his recent Budget speech, Finance Minister Heng Swee Keat said S$30 million will be set aside to strengthen trade associations and chambers over the next five years. Twenty public officers will also be seconded to various associations. Observers have said this is particularly timely as the business environment becomes more complex and firms need to know that they also have much to gain by working together.
Govt to look into simplifying grant applications for SMEs: Heng Swee Keat Channel News Asia 26th Apr 2016
The Government will look into simplifying the various policies and processes for grant applications to help Small and Medium Enterprises, said Finance Minister Heng Swee Keat on Tuesday (Apr 26). Speaking at the Lianhe Zaobao Singapore Budget 2016 Business Forum, Mr Heng also highlighted existing avenues such as the business grant portal which help ease the application process for SMEs. Mr Heng was addressing a suggestion from President of the Association of Small and Medium Enterprises Kurt Wee, to set up an independent committee to help SMEs with issues when applying for grants. The finance minister also said that a working committee, headed by Senior Minister of State Sim Ann and Singapore Chinese Chamber of Commerce and Industry President Thomas Chua under the Committee on the Future Economy, is exploring how to better support SMEs under the context of the industry transformation plan.
Defense & Security
Singapore set to pick military helicopters as arms spending rises Reuters 3rd May 2016
Singapore will soon pick the winner of a $1 billion tender for military utility helicopters, the first of several lucrative deals the island nation is pursuing as it modernizes its air force and navy amid rising tensions in the region. With Southeast Asia’s largest defense budget, Singapore is a key prize for global arms companies as it looks to invest in new technology and replace ageing equipment. China's increasingly assertive actions in the South China Sea, which are worrying Southeast Asian countries, are partly a factor, say analysts, given that these have led to Singapore's neighbors spending more on their militaries.
New counter-terrorism teams to be rolled out by June Channel News Asia 29th Apr 2016
New emergency response teams (ERTs) to handle terrorism threats will be rolled out from June 2016, said the Singapore Police Force (SPF) on Friday (Apr 29). This is part of the SPF's efforts to combat terrorism, in light of terror-related incidents in Jakarta and Paris. Speaking at the SPF's annual Workplan Seminar at the Home Team Academy in Choa Chu Kang, the police said that the ERTs will comprise of officers who are specially trained with counter-assault skills and better-equipped to deal with such attacks. These officers will be taken from existing police divisions and will patrol "soft target" sites, such as shopping malls and stadiums, daily.
Greater military cooperation needed in globalised world: Ng Eng Hen Channel News Asia 27th Apr 2016
Increasing interdependence among countries in today's globalised world calls for greater cooperation and collaboration between militaries, said Singapore's Defence Minister Ng Eng Hen on Wednesday (Apr 27). Speaking at the 5th Moscow Conference on International Security (MCIS), Dr Ng said globalisation has led to countries becoming "too interconnected" and the "price of conflict whenever they occur are too high for everyone potentially". To tackle common and transnational security challenges, Dr Ng said "we must step up dialogue and practical cooperation". He cited the East Asia Summit, ASEAN Regional Forum and ASEAN Defence Ministers' Meeting Plus (ADMM-Plus) as platforms that "allow countries from the Asia-Pacific and beyond to come together for dialogue and cooperation".
Economics
Private sector business conditions deteriorate sharply in April as foreign demand crumbles Singapore Business Review 5th May 2016
Operating conditions in Singapore’s private sector deteriorated in April, as the volume of total new work fell on back of a slowdown in market conditions. The headline Nikkei Singapore purchasing managers’ index (PMI) dropped to 49.4 in April, compared to a reading of 52.0 in March. Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration. Data indicated that weaker foreign demand was a key factor leading overall new business to decline, as new export work fell at the steepest rate since December 2012. Reflective of weaker client demand, staff numbers and purchasing activity both declined in April, while inventories of inputs fell at the quickest rate in eight months. A drop in total new orders and softer market conditions both acted as a brake on output growth in April. Subsequently, Singaporean private sector output rose at a marginal pace that was the slowest since September 2013.
Singapore's manufacturing activity improves in April Channel News Asia 3rd May 2016
Local manufacturing activity remained in contraction in April for the 10th straight month, although the performance was better compared with March. The latest Purchasing Managers' Index (PMI) reading released on Tuesday (May 3) came in at 49.8, a 0.4 point increase from the reading of 49.4 in March, according to the Singapore Institute of Purchasing & Materials Management (SIPMM). A reading above 50 means that the manufacturing economy is expanding, while a reading below 50 indicates contraction. New orders, new export orders and employment saw a slower rate of contraction in April while factory output moderated. Inventory, stocks of finished goods and supplier deliveries recorded a slower rate of expansion, while imports recorded a faster rate of expansion. SIPMM also noted that order backlog expanded for the first time after recording 14 consecutive months of contraction.
Right jobs, right skills key to transforming Singapore’s economy: PM Lee Channel News Asia 30th Apr 2016
To transform its economy, Singapore needs to ensure that it offers the right jobs, its workers have the right skills, and there is a good match between the two, Prime Minister Lee Hsien Loong said in his May Day message. “Tripartism is key to achieving this goal. Employers must envision the future of their business and work with Government and the Labour Movement to redesign jobs and develop their talent with this vision in mind. Workers must actively partner with employers to upgrade their skills, and stay relevant for the future,” he said. Singapore’s economy grew by 2.1 per cent last year – the slowest pace since the 2009 financial crisis, Mr Lee said, adding that growth is expected to remain at between 1 and 3 per cent this year. To stay competitive, Singaporeans must become more productive, innovative and adaptable, and constantly develop new and better ways of doing things, he said.
Analysts urge new way to assess Singapore's economy as GDP growth slows to a crawl Singapore Business Review 28th Apr 2016
Singapore may soon need to re-examine the way it measures economic growth as more local companies turn to overseas markets for revenue. "With the possible shifts in economic structure, there may be a need to re-examine how economic growth is measured in Singapore. The focus will gradually shift towards Gross National Income (GNI) from Gross Domestic Product (GDP)," DBS said in a report. GNI measures the income earned by Singaporeans regardless of whether it is earned domestically or abroad. This may soon become a better measure of growth compared to GDP, which onle measures the value of all goods and services produced within the geographic boundaries of the country.
Chart of the Day: Here’s proof that modern services is the main growth pillar for Singapore Singapore Business Review 28th Apr 2016
Prolonged external demand weakness has spread across more sectors in Singapore, threatening modern services, the city-state’s primary growth pillar. According to a report by Citi, 38% of 58 industry segments experienced negative growth in 2015, a rise from 24% the previous year. Citi said the decline was most prominent with the modern services sector, as falling credit demand and lower income from fund management generated a pullback in financial sector activity. Meanwhile, Citi added that support is expected from growth in domestically oriented sectors stemming from the continued demand of education, healthcare services and government spending on infrastructure, notwithstanding a softer outlook for the retail and real estate segments alongside weakening economic sentiment.
Labour market to deteriorate further as weak growth dampens employment demand: MAS Singapore Business Review 28th Apr 2016
Singapore's unemployment rate is expected to rise this year on back of weak external growth, the continued effect of restructuring and increasing skills mismatches within the resident workforce, the Monetary Authority of Singapore said in its latest macroeconomic review. The MAS noted that recent employment statistics have not been particularly promising. The number of unfilled job openings contracted in 2015, while the ratio of job vacancies to unemployed person also inched down. The incidence of redundancy also rose sharply in the fourth quarter of 2015, suggesting that firms have been more willing to lay off workers. The report also showed that residents who have been laid off are finding it harder to find new jobs within six months, with the re-entry rate falling steadily from March to December 2015.
How Singapore Is Trying To 'Import' Growth Forbes 27th Apr 2016
When the economy of a country reaches a certain level it becomes harder for it to keep growing. When growth in the country slows, or stabilizes, the country and its businesses might need to start looking elsewhere to expand and continue growing. Singapore, one of the largest ASEAN markets, is now dealing with this problem. During the past decade, economic growth in Singapore reached only 2 to 4 percent, below the expected growth of 3 to 5 percent. In order to deal with the low growth rate in its home market, the Singapore government promotes investing in other countries, especially in ASEAN countries like Vietnam and Myanmar. By investing in these fast-growing countries, their economic growth can be “imported” into Singapore.
Expect lower wage growth in 2016: MAS Channel News Asia 27th Apr 2016
Wage growth will likely moderate in 2016 amid tepid employment demand and reduced tightness in Singapore’s labour market, the Monetary Authority of Singapore (MAS) said in its biannual macroeconomic review on Wednesday (Apr 27). “With lower labour demand and supply, total job creation this year is expected to stay modest. As such, overall and resident unemployment rates are likely to rise slightly in 2016 alongside the weak cyclical conditions, intensifying industry reconfigurations in some sectors, as well as increasing skills mismatches within the resident workforce,” the MAS said, adding that redundancies could continue to rise in sectors buffeted by weak external demand and restructuring efforts. As such, the overall resident wage growth is forecast to “moderate to about 2.5 to 3.0 per cent, from 3.5 per cent in 2015”.
Singapore Inc. revamping leadership amid volatile markets Bloomberg 26th Apr 2016
Singapore’s top state investment firms are shuffling senior management to help navigate choppy global markets. The changes at the top echelons at Singapore’s most prominent investment companies come amid intense market volatility as concerns about slowing global growth coincided with uncertainty on the timing of U.S. Federal Reserve interest-rate increases. Markets around the world have swung between gains and losses in recent months, and the Shanghai Composite Index has declined 16 percent this year to rank among the worst-performing major benchmarks.
Singapore Bets on Rising Asia Middle Class to Spur Economy Bloomberg 26th Apr 2016
The rise of the Asian middle class will remain the dominant regional growth story for years to come, enough to help Singapore cope with headwinds from the global economy, a top official said. Even though the city-state’s economy is coming under strain, observers shouldn’t discount positive signs including resilient consumer spending in Southeast Asia and solid increases in air traffic at the Changi international airport, a regional hub, Economic Development Board Chairman Beh Swan Gin said in an interview Monday. Beh says Singaporean businesses can take advantage of economies set to benefit from young and growing populations and urbanization, such as the Philippines and Indonesia. While some countries in the Association of Southeast Asian Nations are facing political uncertainty, that won’t necessarily detract from the growth outlook as long as they keep their economies open and follow market-friendly policies, he said. “We are generally optimistic about the medium to long term,” Beh said. “Asean, despite all the political uncertainties, is coming along at a pace of economic growth of around 5 percent.”
Singapore banks unable to shake off default risks even as oil prices recover Singapore Business Review 22nd Apr 2016
A wave of loan defaults was once feared to engulf Singapore’s largest banks if oil prices remain depressed for longer. Although default risks have eased somewhat as oil prices tick up, analysts at Morgan Stanley note that the lenders are not out of the woods yet. “Given the nature of Singapore bank exposures to the support services sector, we believe risks remain. After all,one of the reasons crude prices have risen is an expected drop in supply – this will continue to affect support services, in our view,” Morgan Stanley said in a report. The report highlighted that due to the current rig glut, shipbuilders are likely to see depressed contract wins even if oil prices do bounce back. Morgan Stanley noted that major defaults for the three banks are still unlikely, although NPLs are expected to increase.
Energy
Singapore, US sign joint statement on clean energy cooperation Channel News Asia 25th Apr 2016
The Energy Market Authority (EMA) of Singapore and the US Department of Energy (DOE) signed a joint statement of intent on Monday (Apr 25) for clean energy cooperation. In a media release, EMA said that under the joint statement, the two authorities will work together in knowledge-sharing, joint research and the organisation of multilateral workshops and seminars, as well as high-lateral policy discussions. EMA's chief executive, Mr Ng Wai Choong, welcomed the signing as a key milestone in Singapore's bilateral energy cooperation with the US. "This is significant as it allows us to deepen our existing cooperation with the DOE and explore new areas of collaboration that would bring about mutual benefits," he said. After the signing, EMA and DOE held their inaugural bilateral policy consultations in which they exchanged views on global energy developments and discussed potential energy collaborations for the year, said EMA.
Johor to keep supplying water to Singapore The Star Online 25th Apr 2016
Parts of Johor may be facing water rationing but the state will continue to meet its obligation to supply 250 million gallons to Singapore daily. The Linggiu Dam, which is operated by Singapore’s Public Utilities Board (PUB) to release water into Sungai Johor to keep the salt water out and improve the water yield, is seeing a 35% level, said Johor Public Works, Rural and Regional Development Committee chairman Datuk Hasni Mohammad. Singapore leaders have claimed that this level is the dam’s lowest in its 20 years of operations. The other five water treatment plants extracting water from Sungai Johor belong to Syarikat Air Johor. Hasni said the state was bound by an agreement to supply 250 million gallons of water to the island republic until 2061. “We will still be able to meet Singapore’s needs despite the drop,” he said.
Receding water levels at Linggiu Reservoir expose S’pore’s vulnerability TODAY 23rd Apr 2016
The Republic’s success in turning its vulnerability in water into a strength within four decades has been well documented. But the drought across the Causeway is raising serious concerns here: With the water level in Linggiu Reservoir in Johor rapidly falling to historic lows, the scenario where Singapore would be unable to import any water from its neighbours before the Republic becomes self-sufficient in 2060 is not as far-fetched as it may seem, experts say.
Water security, energy use a difficult trade-off TODAY 23rd Apr 2016
While ramping up the nation’s water security by increasing its capacity to treat used water and seawater over the next few decades, the Republic could also expose itself to another form of vulnerability — an over-reliance on energy for water. Within the next 14 years, the combined capacity from NEWater and desalinated water will be able to meet up to 80 per cent of the population’s water demands, up from the current 55 per cent. By 2060, these two sources of water can provide up to 85 per cent of the nation’s water needs. However, this will also mean Singapore is becoming increasingly reliant on energy consumption to meet its water security goals.
Singapore signs Paris Agreement on climate change AsiaOne 23rd Apr 2016
Foreign Affairs Minister Dr Vivian Balakrishnan represented Singapore at the signature ceremony of the Paris Agreement on climate change in New York, announced the Ministry of Foreign Affairs (MFA) on Saturday (April 23). Dr Balakrishnan delivered Singapore's national statement at the ceremony to "affirm Singapore's support and commitment for the Agreement", said MFA. In his speech, Dr Balakrishnan noted that Singapore ranks 123rd in emissions intensity out of 142 countries worldwide, but assured that the country "will continue to do more". "Within the geographical constraints we face, we will pursue renewable energy in the form of increased solar PV deployment. This will supplement our substantial energy efficiency efforts and other mitigation measures to lower our Emissions Intensity by 36% from 2005 levels, and to stabilise our emissions around 2030."
Rigbuilders' share prices slip as Sete Brasil goes belly-up Singapore Business Review 22nd Apr 2016
Keppel Corporation and Sembcorp Marine sustained losses in early Friday trading after news erupted that its biggest client Sete Brasil is going to file for bankruptcy. Keppel Corporation and Sembcorp were among the top losers on the SGX. As of 10:52 AM, Keppel was trading at $5.68 a drop of 5.33% compared to its last closing price. Over 4.7 million shares have changed hands. Meanwhile, Sembcorp Industries has dropped by 2.3% to $3.01 per share, while its subsidiary Sembcorp Marine has lost 2.1% to $1.83. Keppel and SMM have USD4.9b and USD5.6b of rigbuilding contracts with Sete respectively.
Financial Services
Singaporean banks grapple with higher non-performing foreign loans Singapore Business Review 5th May 2016
All of Singapore's three largest banks were hit with higher non-performing loans from foreign borrowers in the first quarter of the year. This chart from Moody's shows that asset quality at DBS, OCBC and UOB deteriorated further in Q1, driven by an increase in non-performing foreign loans and shaky oil and gas loans. "The three banks reported higher non-performing foreign loans in the first quarter of 2016, with DBS and OCBC leading the increase," Moody's said.
Mobile payment vendors tout security to push wider use Channel News Asia 4th May 2016
Concerns about security may discourage some consumers from adopting mobile payments, but providers such as Visa, Apple and Samsung are aiming to deal with such worries by baking in security protection, regardless of the device one uses. Mr Jarkko Sevanto, head of mobile solutions for Asia-Pacific at Visa, told Channel NewsAsia in an interview that the company's Token Service has features such as access and identity management which add extra layers of security to mobile operating systems. “We have already assumed the worst to happen,” Mr Sevanto said, “So we’re not just protecting the integrity of the device, but the fallout measures should the device get stolen or lost.” Beyond security, Mr Dill highlighted Singapore as an ideal place for mobile payment innovations to take place because its infrastructure is developed and the feedback loop for such ideas should be fast, which helps in the development process.
MOF, MTI announce new appointments to statutory boards Channel News Asia 29th Apr 2016
The Ministry of Finance (MOF) and Ministry of Trade and Industry (MTI) announced on Friday (Apr 29) new appointments to the boards of several statutory boards. Mrs Tan Ching Yee, the incoming Permanent Secretary for Finance, has been appointed as the chairman for the Inland Revenue Authority of Singapore (IRAS), MOF said. She takes over from Mr Peter Ong Boon Kwee, who will take on a new appointment as Permanent Secretary for the Prime Minister’s Office (Strategy), concurrently with his appointment as head of the Civil Service. Mr Ng How Yue, Permanent Secretary for the Ministry of Law, has been named as chairman of the Energy Market Authority (EMA). He succeeds Mr Loh Khum Yean, who has been appointed as Permanent Secretary for Trade and Industry. MTI also announced that Mr Png Cheong Boon has been re-appointed as CEO and board member of JTC. All the appointments take effect from Sunday (May 1).
SGX public consultation on listing rules amendments to align with changes to the Companies Act - Electronic transmission of notices and documents Lexology 28th Apr 2016
After a series of public consultations by the Steering Committee for the Review of the Companies Act, key provisions in the Companies Act (Cap 50) of Singapore (Companies Act) were identified for reform and refinement. The resultant Companies (Amendment) Bill 2014 incorporating such proposed amendments was passed by the Parliament in October 2014, with the changes to the Companies Act effected in two phases, on 1 July 2015 and 3 January 2016 respectively.
More than 1 in 3 Singaporeans use mobile wallets in face-to-face transactions: Visa Singapore Business Review 28th Apr 2016
Singapore is currently one of the leading markets in the world for contactless payments, as more than 4 million Visa payWave transactions made in a month, according to data from Visa. Visa reports that more than 1 in 3 Singaporeans use Visa payWave for face-to-face transactions. Further, the penetration is higher in supermarkets, where more than half the cashless transactions for Visa are contactless. Respondents cited faster transactions (71%), ease of use (55%), and no need to have cash on hand (47%) as the main reasons for choosing contactless payment options over cash.
Visa opens innovation centre in Singapore Channel News Asia 28th Apr 2016
Visa opened its Singapore innovation centre - a 7,000-square-foot facility that will allow the firm to work with its clients, partners and developers to come up with payment and commerce solutions - on Thursday (Apr 28). The innovation centre at Robinson Road is the first in a network of new innovation centres the company is opening around the world later this year and in 2017. It builds on the success of Visa's flagship innovation centre which opened in July 2014 in San Francisco. President of Visa, Ryan McInerney said the company aims to make commerce and shopping simple and easy for both consumers and businesses through its drive for innovation. The centre aims to be a collaborative space where various stakeholders can come together to create commerce solutions, particularly on mobile and digital platforms, McInerney said.
Singapore: NTU-led alliance to plug risk management data gaps Asia Insurance Review 26th Apr 2016
Nanyang Technological University (NTU Singapore) is spearheading an alliance of leading multinational and regional companies in the insurance industry to enable more countries in Asia to better cope with the economic and financial fallout from natural disasters. The alliance will address gaps in data that is required for risk management and quantification in Asia. The Natural Catastrophe Data and Analytics Exchange (NatCatDAX) Alliance, launched at the 7th International Symposium on Catastrophe Risk Management organised by NTU on 21 April, will be an industry-led catastrophe data and analytics platform for Asia. It will generate a rigorous database by tapping into national and industry data. Such high quality data, market analytics and product innovations are currently lacking in the region.
Singapore Overtakes Hong Kong as Asia’s Top Financial Hub ASEAN Briefing 22nd Apr 2016
Singapore has overtaken Hong Kong as the top financial hub in Asia, according to Z/Yen Group’s Global Financial Centers Index (GFCI). Hong Kong slipped to fourth place overall, while Singapore now only trails London and New York globally. Although the two financial centers are essentially neck and neck – Singapore scoring 755 points out of 1000 and Hong Kong 752 – the shift is indicative of a wider trend of optimism towards Singapore and uncertainty facing Hong Kong.
Food & Agriculture
Malaysia vegetable prices set to rise further in Singapore as high temperatures hit supplies Channel News Asia 26th Apr 2016
As Malaysia continues to grapple with hot and dry weather, the price of Malaysian greens imported into Singapore looks set to increase further. Mr Jerry Tan, Assistant Secretary of the Singapore Fruits and Vegetables Importers and Exporters Association, expects prices to go up as the supply of leafy vegetables from Malaysia could drop by about 30 per cent in the coming weeks. Prices have already been increasing as farmers across the Causeway grapple with the challenging conditions, with temperatures in some places exceeding 37 degrees Celsius.
Banana supply in Singapore 'stable' despite fungus fears The Straits Times 25th Apr 2016
Supplies of bananas in Singapore are stable even amid growing fears over a disease that is affecting the global crop. The outbreak is caused by the Tropical Race 4 strain of the Panama disease, a soil fungus that has already spread across Asia - including the Philippines and Indonesia - to parts of Australia, Africa and the Middle East. The United Nations warned earlier this month that the disease threatens the US$36 billion (S$48.8 billion) banana industry, adding that the sector must intervene "to tackle one of the world's most destructive banana diseases", CNN reported. In Singapore, however, the Agri-Food and Veterinary Authority (AVA) told The Straits Times that the supply of bananas is stable. "Singapore imports bananas from various countries, including the Philippines, Malaysia, Ecuador, Vietnam and India. The import quantity has increased over the years," said an AVA spokesman.
Health & Life Sciences
IDA extends cloud security standards to private healthcare sector Channel News Asia 4th May 2016
SINGAPORE: The existing Multi-Tier Cloud Security (MTCS) Singapore Standard has been extended to the private healthcare sector, announced the Infocomm Development Authority of Singapore (IDA) on Wednesday (May 4). The move brings clarity to the private healthcare sector on how cloud computing can be used and applied for their enterprises, as well as trust through transparency of cloud service providers (CSPs) via certification, IDA added. “Singapore must continue to lay the foundations for innovative solutions to thrive and grow in a Smart Nation, and this means bringing clarity to industry sectors to aid in their adoption. We are encouraged that the healthcare sector can now look to adopting the cloud with the clarity which our Multi-Tier Cloud Security Singapore Standard brings,” said IDA Assistant Chief Executive Khoong Hock Yun.
Singapore scientists discover treatment for terminal weight loss in cancer patients The Straits Times 3rd May 2016
SINGAPORE - Singapore scientists have discovered a way to treat and prevent terminal weight loss in cancer patients. Researchers from the Genome Institute of Singapore, National Cancer Centre Singapore (NCCS) and Duke-NUS Medical School found that excessive burning of fats by the muscles, or fatty acid oxidation, is one of the major causes of severe weight loss in patients suffering from serious chronic illnesses such as cancer. This challenges the long-held assumption that excessive fatty acid oxidation is just a side effect of terminal weight loss, or cachexia. The team has shown that using a fatty acid oxidation inhibitor drug can treat muscle wasting during cachexia, and will start the first clinical trials this year.
New degrees add to SIT's draw The Straits Times 3rd May 2016
The Singapore Institute of Technology's (SIT) new degree offerings in health sciences have boosted its applications this year. In all, 13,000 A-level and polytechnic diploma holders have applied for the 2,400 places in 42 degree courses on offer this year. The total number of applications is 35 per cent higher than that last year. Of the total, 2,500 are vying for the 285 places in the five new health science degree courses - physiotherapy, occupational therapy, diagnostic radiography, radiation therapy and nursing. A new joint degree course in food technology with Massey University of New Zealand has also drawn keen interest. SIT director of admissions Kelly Koh said the health science degrees are in areas where there is a huge demand for specialists, given the rapidly ageing population of Singapore. "The graduates from these fields will have good job prospects, as there is a critical need for people in these areas."
MOH steps up vigilance against HFMD Channel News Asia 3rd May 2016
The Ministry of Health (MOH) has alerted partner agencies such as the Early Childhood Development Agency, the Ministry of Education and the People's Association to step up vigilance and measures against Hand, Foot and Mouth Disease (HFMD). This is in response to a rising number of cases, it said in a statement on Tuesday (May 3). Earlier, Channel NewsAsia reported that there were 1,052 HFMD cases from Apr 17 to Apr 23 - the highest number since October 2013. As of Apr 28, a total of 36 childcare centres and kindergartens have been identified as having clusters of prolonged transmission this year, of which two childcare centres were required to undergo mandatory closure due to HFMD, MOH said. According to MOH, "HFMD is a common childhood disease that is endemic in Singapore and outbreaks can be expected from time to time. In the vast majority of HFMD cases, the disease is mild and self-limiting." The ministry said so far, no severe cases or deaths due to HFMD have been reported this year.
Singapore HSA fine-tuning good distribution practice for medical devices MassDevice 2nd May 2016
Singapore’s medical device market regulator, the Health Sciences Authority (HSA), is planning a new good distribution practice standard for medical devices that requires licensure of companies importing and supplying devices in the country. The Singapore Standard for Good Distribution Practice for Medical devices, or SS GDPMDS, is based on specifications listed in the HSA document Good Distribution Practice for Medical Devices in Singapore—Requirements (HSA GDPMDS TS-01, R2.1), which sets the mandatory technical standard for licensing device importers, distributors and wholesalers.
22 New Psychoactive Substances to be classified as Class A controlled drugs Channel News Asia 29th Apr 2016
A total of 22 New Psychoactive Substances (NPS) will be classified as Class A controlled drugs - under the First Schedule of the Misuse of Drugs Act (MDA) - from May 1, said the Central Narcotics Bureau (CNB) on Friday (Apr 29). In a news release, CNB said 20 of them are currently listed in the Fifth Schedule, which enables CNB to seize the substances so that "their circulation can be restricted while research and industry consultation are conducted". Four new substances will be added to this Schedule, said CNB. Among the 20 substances being reclassified are 4 Acetoxy-DiPT, 5-Benzyloxytryptamine, 5-Chlorotryptamine, Bufotenine and Psilocin. The other two NPS that will also be listed as Class A - commonly known as MT-45 and 4,4'-DMAR - are new.
Nutrition-focused R&D centre gives food companies and SMEs an edge Channel News Asia 29th Apr 2016
Having a research centre that focuses on nutrition will give food companies and small- and medium-enterprises (SMEs) a competitive edge, said Finance Minister Heng Swee Keat on Friday (Apr 29). Mr Heng said such a centre will be valuable to food companies, which can use the research findings to formulate better products. He added that SMEs can make use of the scientific knowledge to change or create new products. The fact that the centre focuses its work on the eating habits of the Asian consumer gives food companies here a competitive edge, he added. The Minister was touring the Clinical Nutrition Research Centre - a joint initiative by the Agency for Science, Technology and Research (A*STAR) and National University Health Systems - to learn more about its efforts to grow the local food and nutrition sector.
Factory figures get bio-med booster shot Strait Times 27th Apr 2016
A surge in biomedical manufacturing helped cushion the fall in factory output last month, raising hopes that economic growth could be lifted for the first three months of the year. Factory output slid 0.5 per cent last month from March last year, performing better than the 2 per cent fall analysts had earlier forecasted. Contractions in the transport engineering, precision engineering and chemicals clusters led last month's slide in output, but this was cushioned by a 23.1 per cent surge in biomedical manufacturing.
Tackling apathy and diabetes Strait Times 27th Apr 2016
In declaring war on diabetes, Singapore is doing no more than the minimum needed to keep an attritional health threat at bay. The disease exacts a human cost and over $1 billion for treatment a year. In 2010, the cost of diabetes was already almost 10 per cent of healthcare spending. Alarmingly, of the more than 400,000 diabetics today, one in three does not know that he has the disease. Worse, of those who do know, one in three has poor control of his condition. This mixture of ignorance and denial bodes ill for Singaporeans, particularly if forecasts - that the cost of diabetes will soar beyond $2.5 billion by 2050 - prove true.
$7.5 million to be pumped into liver cancer research The Straits Times 27th Apr 2016
SINGAPORE - A Singapore-based team researching the most common type of liver cancer has been awarded a $7.5 million grant to continue its studies. Professor Pierce Chow, a senior consultant surgeon with National Cancer Centre Singapore (NCCS) is leading a multi-disciplinary team comprising clinicians and researchers from several institutions to carry out in-depth studies on the genomics and immunology of liver cancer. A pilot study into the most common type of liver cancer, Hepatocellular Carcinoma or HCC, has found significant heterogeneity within tumours.This means different parts of the same cancer may have different genetic mutations or produce different immune response.It explains why current approaches to drug development in HCC have not been fruitful, according to Professor Pierce Chow. The team has been awarded a $7.5 million grant under the TCR Flagship Programme grant by Singapore's National Medical Research Council (NMRC). Its research will involve five centres from Singapore and the region and start in the third quarter of this year. The study will be conducted using tumour samples from 100 patients.
Dengue cases in Singapore rose to 232 last week Channel News Asia 26th Apr 2016
The number of new dengue cases in Singapore rose to 232 in the week ending Apr 23, eight more cases than the previous week, according to latest figures published on the National Environment Agency’s (NEA) dengue website. Another 34 cases were reported between Apr 24 and 3.30pm on Apr 25. A total of 7,085 dengue cases have been reported in Singapore since the start of the year. Four people have died of the disease so far
ICT
Singapore Is Taking the ‘Smart City’ to a Whole New Level The Wall Street Journal 3rd May 2016
This wealthy financial center is known world-wide for its tidy streets and tight controls on personal behavior, including famous restrictions on the sale of chewing gum to keep the city clean. Now Singapore may soon be known for something else: the most extensive effort to collect data on daily living ever attempted in a city. As part of its Smart Nation program, launched by Prime Minister Lee Hsien Loong in late 2014, Singapore is deploying an undetermined number of sensors and cameras across the island city-state that will allow the government to monitor everything from the cleanliness of public spaces to the density of crowds and the precise movement of every locally registered vehicle. It is a sweeping effort that will likely touch the lives of every single resident in the country, in ways that aren’t completely clear since many potential applications may not be known until the system is fully implemented. Already, for instance, authorities are developing or using systems that can tell when people are smoking in prohibited zones or littering from high-rise housing. But the data collected in this next phase—and how it’s used—will go far beyond that.
More security for '.sg' domain names Channel News Asia 3rd May 2016
All ".sg" domain names are getting an additional layer of security, under a new RegistryLock feature launched by the Singapore Network Information Centre (SGNIC) on Tuesday (May 3). RegistryLock is a free security feature aimed at helping ".sg" registrants mitigate the risk of "domain name hijacking", said SGNIC. This happens when Domain Name System (DNS) nameserver information is changed without authorisation, and if a domain name is hijacked, hackers can redirect the website and emails to computers of his or her choice.
M1 launches high-definition WiFi voice calls trial at Jurong Lake District Singapore Business Review 2nd May 2016
M1 has launched Singapore’s first public native Voice over WiFi (VoWiFi) trial under the Infocomm Development Authority of Singapore’s (IDA) national HetNet Trials initiative. VoWiFi technology allows users to make data voice calls without having to install or use a separate calling app. The service will also allow calls to and from fixed numbers, unlike OTT (over-the-top) calling apps which only allow calls between handsets with the same calling software. The service also supports two-way mobility between WiFi and mobile networks. This means that a voice call initiated on a WiFi network will not disconnect when the user moves to cellular network, and vice versa.
NTUC fund to get up to S$200 million boost to support mid-career workers Channel News Asia 1st May 2016
Up to S$200 million more could soon be available in the NTUC-Education and Training Fund, with the goal of helping 30,000 mid-career workers a year in learning new skills, Prime Minister Lee Hsien Loong said. Speaking at this year's May Day Rally on Sunday (May 1), Mr Lee said the Labour Movement intends to raise S$50 million to work with universities to support these workers, including professionals, managers, executives and technicians (PMETs), in training. The Government will, in turn, match S$3 for every dollar NTUC raises – up to S$150 million. The scheme is an extension of what NTUC has been doing with polytechnics and Institutes of Technical Education (ITEs). It will start first by partnering Nanyang Technological University (NTU) and will focus on short courses to help working people keep up with technology and industry development.
Singapore businesses rank top in Asia for use of APIs: Survey Channel News Asia 29th Apr 2016
Singapore firms lead the pack in Asia-Pacific when it comes to adopting Application Programming Interfaces (APIs) to keep up to pace with an increasingly digital world, a new survey showed. Forty per cent of businesses in the Republic are leveraging on APIs for various purposes including incorporating third-party services, building web-based and mobile applications, and enabling third-party developers, according to a poll conducted by US-based software corporation CA Technologies and IT research firm Freeform Dynamics. This puts Singapore ahead of its Asian peers such as India (35 per cent) and China (32 per cent), and above the global average of 34 per cent. APIs – defined as sets of routines and protocols that specify how one software application interacts with another – have been increasingly embraced by companies around the world as a key to meeting the requirements of the digital age. Recently, the topic of APIs has been given renewed attention after the Monetary Authority of Singapore (MAS) identified them as the necessary foundation for financial innovation. At a two-day conference held in March, senior officials described APIs as a "critical gateway" for local financial services to collaborate with financial technology (FinTech) start-ups, and announced plans to make data on its website available in a format that can be used readily with third-party applications.
GovTech about using technology to create citizen-centric solutions: CEO Channel News Asia 28th Apr 2016
The upcoming Government Technology Agency (GovTech) - previously announced as the Government Technology Organisation - will spearhead the Government's drive to use technology to create citizen-centric solutions. Spun off from the Infocomm Development Authority (IDA), the new statutory board will be expected to lay the foundations and deliver Singapore's Smart Nation vision, after it is officially legislated in Parliament in the second half of this year.
Singtel unveils cyber security institute to train firms against attacks Singapore Business Review 26th Apr 2016
In a thrust to address the growing number of cyber threats, Singapore Telecommunications (Singtel) has unveiled the Singtel Cyber Security Institute (CSI). According to the telco firm’s news release, CSI is a hybrid between an advanced cyber range and an educational institute and is housed in a permanent space of over 10,000 sqft. It will provide cyber skills development and education programmes tailored to the needs of company boards, C-suite management, technology, and operational staff. Boards and C-suite level participants will be trained in the areas of cyber threat awareness, risk management, business continuity planning, and communications preparation. The cyber operations team will be trained in defence and response capabilities. Singtel also revealed it is the first Singapore company to collaborate with the Infocomm Development Authority of Singapore and the Cyber Security Agency of Singapore on the Cyber Security Associates and Technologists (CSAT) Programme to train infocomm professionals in cyber security.
More fake govt websites phishing for personal data The Straits Times 24th Apr 2016
Be careful, the government website you are visiting may not be the real deal. The Infocomm Development Authority (IDA) said it has seen a growing number of fake government websites over the past few years. The problem has become serious enough for at least five government agencies to issue public advisories in the last six months against phishing. They include the Immigration and Checkpoints Authority, the Ministry of Manpower (MOM) and the Ministry of Health. Police reports were made in several cases.
Infrastructure
Singapore retains top spot as most attractive country for infrastructure investment Singapore Business Review 3rd May 2016
Singapore remains the most attractive market for infrastructure investors for the third year running, accoring to the Global Infrastructure Investment Index by Arcadis. Despite a slightly lower score for economic factors, Singapore ranked consistently highly across business, risk, infrastructure and financial indicators. Singapore’s efforts to improve understanding of infrastructure as an asset class, such as by developing new benchmarking tools, will also make the city-state more attractive to long-term infrastructure investors. In the global rankings, Singapore was followed by Qatar, the United Arab Emirates, Canada and Malaysia. In the Asia-Pacific rankings, meanwhile, Malaysia was second to Singapore, followed by Australia, Japan and China.
Singapore builds new container port The Star Online 2nd May 2016
Singapore, the world’s second-busiest container port, has started building a harbour to double the island-city’s capacity to meet growing demand. The first of a four-phase development of the deep-water port in the western part of Singapore started last Friday, the Maritime and Port Authority of Singapore said in a statement. The initial stage would have 20 berths, with a capacity to handle 20 million 20-ft containers a year when completed, the government said. Singapore is one of many countries in the region spending billions of dollars to add port capacity as trade within the continent expands at a faster pace than between Asia and Europe. The project is also aimed at attracting a growing number of large vessels plying the Asia-Europe trade lane. The city-state is building the new port west of the current 1,000ha site, and the annual capacity is set to double to 65 million boxes over about three decades.
LTA to call tenders for North-South Corridor Channel News Asia 28th Apr 2016
Tenders will be called for the construction of the 21.5km North-South Corridor (NSC), Singapore’s first integrated transport corridor, the Land Transport Authority (LTA) said on Thursday (Apr 28). The NSC will include express bus lanes and cycling trunk routes to connect towns in the northern region to the city centre. Several tenders will be called in the “coming months”, LTA said. Major construction works will commence in 2017 after the civil contracts are awarded, and the reconfigured NSC is expected to be completed around 2026.
IE Singapore, China Construction Bank sign MOU for infrastructure projects Channel News Asia 25th Apr 2016
More funds will be made available to support Singapore and Chinese companies in One Belt, One Road (OBOR) infrastructure projects, with a Memorandum of Understanding (MOU) signed between International Enterprise (IE) Singapore and China Construction Bank (CCB) on Monday (Apr 25). The OBOR connects China with people from Europe, Africa and Asia economically, socially and culturally through the continental Silk Road Economic Belt and the 21st Century Maritime Silk Road. Under the MOU, which is the first the bank has signed with a Southeast Asian country, CCB will provide S$30 billion of financing services to support local and Chinese companies to invest in OBOR projects through Singapore. Singapore companies will also be able to tap the bank's network in 25 countries and regions. The bank has 176 major projects in OBOR countries, with an aggregate investment size of more than US$300 billion (S$405 billion) covering sectors such as power generation, mining and transportation.
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