Lets Talk Singapore (2024)

10/09/2024

Singapore and Indonesia Make Substantive Progress on Electricity Imports

First Conditional Licences for 2 GW of imports; Additional Conditional Approvals for 1.4 GW of imports

Following substantive progress made by five Indonesia-based projects to import a total of 2 gigawatts (GW) of low-carbon electricity to Singapore, the Energy Market Authority (EMA) has granted Conditional Licences to the five companies in charge of these projects.

Additionally, EMA will grant Conditional Approvals to two new projects to import 1.4 GW of low-carbon electricity from Indonesia to Singapore.

These Conditional Licences and Conditional Approvals were awarded during the Indonesia International Sustainability Forum in Jakarta on 5 September 2024.

Low-carbon electricity imports are part of Singapore’s overall efforts to decarbonise the power sector, which currently accounts for about 40% of the nation’s carbon emissions. Given the strong interest by credible parties to participate in electricity import projects, and to ensure adequate supply to meet Singapore’s future energy needs, EMA will also seek to import around 6 GW of low-carbon electricity by 2035, up from the initial target of 4 GW announced in 2021.....
https://bit.ly/3XD7blV

Energy Market Authority

08/09/2024

Singapore firms eye under-tapped and markets for overseas expansion

As multinational corporations rush to diversify their international trade and investment exposure, Singapore companies planning to expand abroad are also increasingly looking at the burgeoning opportunities beyond Asean and China.

In response, the Singapore Business Federation (SBF) and HSBC have joined hands to support local businesses’ expansion overseas in key trade corridors, especially in under-tapped markets including India and the Middle East.....
https://bit.ly/3z7X4vW

Singapore Business Federation

Via straitstimes.com

07/09/2024

Singapore tycoons’ wealth rises 10%, with Eduardo Saverin topping ’ rich list again

Singapore’s tycoons saw their collective wealth rise by over 10 per cent to US$195 billion (S$253 billion), from US$177 billion in 2023.

But Forbes’ 2024 list of Singapore’s 50 richest showed that their fortunes have yet to catch up with that of 2021 when their net worth was US$208 billion.....
https://bit.ly/4egBPai

Timothy Goh
Via straitstimes.com

07/09/2024

World’s second-tallest tower tests Malaysia’s appetite amid property demand doubts

A quarter-century after the Petronas Twin Towers became the world’s tallest buildings and reshaped Kuala Lumpur’s skyline, Malaysia’s capital is continuing to add new skyscrapers despite growing doubts over the level of demand for property....
https://bit.ly/3TjeHQe

Via straitstimes.com

06/09/2024

Jewel Changi Airport and Trip.com enter three-year partnership to boost tourism

Jewel Changi Airport (Jewel), Singapore’s iconic lifestyle destination, and Trip.com, a leading player in the global travel industry, have announced a strategic three-year partnership aimed at promoting travel.

Bringing together best-in-class leisure experiences and travel services, the partnership promises to deliver more exciting programmes for travellers. Jewel will leverage Trip.com's extensive global network to reach a wider international audience, encouraging travel to Singapore and more visitors to Jewel. As Trip.com continues to expand its presence globally, the partnership will also enable it to further raise brand awareness among Jewel’s diverse audience of international and local visitors.

This partnership is inked against the backdrop of Jewel’s strong growth trajectory, where overall footfall has increased by almost 15% and the number of foreign visitors by more than 20%, for the period from January to June 2024 compared with the previous year. In the month of August, Jewel saw record visitorship over the National Day weekend, registering more than 1 million in footfall traffic.....
https://bit.ly/4egcmh7

Changi Airport
Trip.com

05/09/2024

’s CapitaLand aims to double its India funds under management by 2028

The real estate investment manager currently has $5.7 billion in funds under management in India. It aims to grow here by investing in data centres, renewable energy and private credit for real estate.

Lured by India's fast-growing economy, Singapore-based CapitaLand Investment is looking to more than double its $5.7 billion in funds under management here over the next four years....
https://bit.ly/3z9y4nX

CapitaLand

Nehal Chaliawala
Via livemint.com

05/09/2024

Singapore’s Nasdaq-listed companies in the news for all the wrong reasons

NASDAQ-LISTED Singapore companies have been in the news recently for all the wrong reasons.

The recent offer made by financial comparison platform MoneyHero for rival MoneySmart came as a surprise to everyone – including MoneySmart.

MoneySmart’s founder and chief executive officer Vinod Nair said that the offer was “unsolicited”, and the company followed up with its own press release rejecting it....
https://bit.ly/3AON6Ab

Benjamin Cher
Via businesstimes.com

04/09/2024

MPA to Permit Night Movement of Line-Towed Container Barges at Terminal

The total number of containers handled by the Port of Singapore in the first seven months of 2024 amounted to 23.82 million twenty-foot equivalent units (TEUs), marking a significant 6.1% increase in container volumes over the same period last year. Most container vessels completed their simultaneous cargo handling and bunkering within a day of arrival. The average wait time for container berths at port has been reduced to less than one day in July 2024. These improvements are due to measures undertaken by the Maritime and Port Authority of Singapore and PSA Singapore, such as the commissioning new berths at Tuas Port, reactivating berths and yard spaces at Keppel Terminal, increasing manpower capacity and working with shipping and feeder lines on the scheduling for operations.....
https://bit.ly/4cQRH1Z

Maritime and Port Authority of Singapore - MPA

31/08/2024

acquires another logistics facility in

GIC has bought another logistics facility developed by Japanese real estate developer Daiwa House Industry for an undisclosed amount.

The four-floor facility in Yokohama provides access to the Greater Tokyo region.

Completed in 2022 and fully occupied, it spans an area of more than 126,000 sq m, making it one of Daiwa House’s largest assets to date....
https://bit.ly/4cNnSzn

Via straitstimes.com

30/08/2024

SIA gets foreign direct investment approval from Indian Government for Air India-Vistara merger

Flag carrier now expects the merger to complete by end-2024

SINGAPORE Airlines (SIA) has received approval from India’s government for foreign direct investment (FDI) into the entity resulting from the merger of SIA’s 49 per cent-associated company, Tata SIA Airlines – operating as Vistara – and Air India….
https://bit.ly/479a40F

Singapore Airlines
Vistara
Air India

Michelle Zhu
Via businesstimes.com

29/08/2024

tools that drive positive impact in various fields

Assoc Prof Kelly Ke develops machine learning tools that drive positive impact in various fields.

Machine learning techniques that enable computers to learn like humans have rapidly advanced the ability of AI to accurately make predictions from large amounts of input data. Machine learning algorithms have been used to solve problems ranging from identifying spam mail to enabling autonomous vehicles to sense and respond to road situations....
https://bit.ly/3AFDDLt

Assoc Prof Kelly Ke
School of Computer Science and Engineering
Nanyang Technological University, Singapore

28/08/2024

Singaporean flexitarians | Seeking to reduce meat intake

Amid rising anxiety over the environmental and health impacts of meat production, a growing wave of consumers is embracing a ‘flexitarian’ diet—a middle ground that scales back but doesn't entirely cut out meat consumption.

While campaigns like ‘Meat-Free Mondays’ have gained traction, the deeper drivers behind this dietary shift remain elusive. “Flexitarians are often seen as one homogenous group of consumers, hence we sought to identify subgroups of flexitarian consumers with different underlying psychological traits or motivations,” said Amanda Lim, a Senior Research Officer at A*STAR’s Singapore Institute of Food and Biotechnology Innovation (SIFBI).

Lim worked alongside Florence Sheen and Ciarán Forde, formerly of SIFBI’s Clinical Nutrition Research Centre, to survey 650 Singaporean flexitarians and delve deeper into their attitudes towards reducing meat consumption.....
https://bit.ly/4g1Jqee

Singapore Institute of Food & Biotechnology Innovation
Agency for Science, Technology and Research (A*STAR)

27/08/2024

Equities Market Review Group Identifies Priority Areas, and sets out its strategic direction for the review

The Equities Market Review Group held its inaugural meeting on 19 August, chaired by Mr Chee Hong Tat, Minister for Transport, Second Minister for Finance and Deputy Chairman of the Monetary Authority of Singapore. The meeting discussed key challenges and opportunities facing Singapore’s equities market, and set out its strategic direction for the review.

At the meeting, the Review Group identified the following priority areas for the two workstreams:

- The Enterprise and Markets workstream will focus on ideas to encourage listings, increase investor participation, improve trading liquidity and facilitate fair valuation for listed equities.

- The Regulatory workstream will study ideas to streamline the regulatory framework, improve the listing process, enhance the effectiveness of our disclosure-based regime, and strengthen corporate governance standards, investor access and recourse.

The Review Group also announced the members of the two workstreams, which comprise a cross-section of capital market practitioners, investor advocacy groups, industry associations, and academia (please see Annex A for the full list of members)....
https://bit.ly/474d0fd

26/08/2024

NUS and A*STAR researchers develop wearable, stretchable sensor for quick, continuous, and non-invasive detection of solid-state skin biomarkers

The novel sensor accurately measures markers such as cholesterol and lactate — crucial for the early detection of diseases

Detecting diseases early requires the rapid, continuous and convenient monitoring of vital biomarkers. Researchers from the National University of Singapore (NUS) and the Agency for Science, Technology and Research (A*STAR) have developed a novel sensor that enables the continuous, and real-time detection of solid-state epidermal biomarkers (SEB), a new category of health indicators.

Jointly led by Assistant Professor Liu Yuxin from the NUS Institute for Health Innovation & Technology as well as N.1 Institute for Health and the Department of Biomedical Engineering under the NUS College of Design and Engineering, and Dr Yang Le, Principal Scientist and Head of the Sensors and Flexible Electronics Department of A*STAR’s Institute of Materials Research and Engineering (A*STAR’s IMRE), the research team’s innovation offers a non-invasive method to monitor health by detecting biomarkers such as cholesterol and lactate— directly on the skin....
https://bit.ly/3T5LUhX

Agency for Science, Technology and Research (A*STAR)

24/08/2024

Light-speed data highway - Handling vast data streams concurrently

Advanced photonic processors boost machine learning efficiency by handling vast data streams concurrently, promising real-world benefits like enhanced patient monitoring.

The unsung hero behind multimedia experiences is a tiny electronic chip—often no bigger than a credit card—that brings productivity and entertainment to life. Found in smart devices and computers, the graphics processing unit (GPU) performs numerous simultaneous calculations to render images and videos seamlessly....
https://bit.ly/3MkJ0Ce

Institute of Microelectronics
Agency for Science, Technology and Research (A*STAR)

22/08/2024

Binance hiring 1,000 as compliance spending tops $261 million, CEO says

Binance Holdings is hiring 1,000 people in 2024, with many earmarked for compliance roles as the crypto exchange’s annual spending to meet regulatory requirements, including United States oversight under a plea deal, tops US$200 million (S$261 million).

Binance’s Singaporean chief executive Richard Teng, who is visiting the US to talk to monitors and officials, outlined the employment goals for the world’s largest crypto trading platform in an interview with Bloomberg News in New York on Aug 21.....
https://bit.ly/4cGHcy6

Richard Teng Binance

Via www.straitstimes.com

21/08/2024

and launched first -enabled Industry 4.0 trial for Manufacturing Sector

Industry 4.0 represents a change beyond just an interconnected and autonomous digital enterprise. Here smart connected technologies are embedded with artificial intelligence (AI), cognitive technologies and integrated with digital twins, to name a few examples. With Industry 4.0, enterprises are able to communicate, analyse and use data to produce more efficient and productive processes for smarter manufacturing.

In Singapore, our vision for Manufacturing 2030, is to become a global business innovation and talent hub for advanced manufacturing. Today, manufacturing accounts for 20% of GDP and Singapore is looking at growing this sector by 50% of its current value of S$106billion......
https://bit.ly/4dwCZOD

Via http://imda.gov.sg

20/08/2024

MPA and GCNS Collaborate with Maritime Industry to Strengthen Capacity in Carbon Accounting and Management

The Maritime and Port Authority of Singapore (MPA) and the UN Global Compact Network Singapore (GCNS) have signed a memorandum of understanding (MoU) to help strengthen the maritime industry’s capacity in carbon accounting and management.

The MoU builds on the long-standing collaboration between MPA and GCNS to raise sustainability capabilities in the maritime sector, which includes an MoU signed in 2017 to provide maritime companies with training on sustainability reporting. The MoU was further expanded to include Singapore Shipping Association (SSA) in 2021 to support the development of capabilities in carbon accounting through training and recognition. Through the initiative, 15 companies have since been awarded the Maritime Singapore LowCarbon50 Award over the past three years for their decarbonisation plans and accurate carbon accounting....
https://bit.ly/3Za7Lc7

Maritime and Port Authority of Singapore - MPA

United Nations Global Compact

19/08/2024

partners to offer GPU-as-a-Service in

AIS in Thailand, Malaysia’s Maxis and Telkomsel in Indonesia are among the early adopters of the offering

Singtel and Bridge Alliance – a mobile alliance with 35 member operators globally – announced a partnership on Monday (Aug 19) that will take the telco’s GPU-as-a-Service (GPUaaS) offerings to enterprises across South-east Asia once it is launched later this year......
https://bit.ly/4duQoqs

AIS , Maxis & Telkomsel are among the early adopters

Vivien Ang
Via businesstimes.com

18/08/2024

MAS Collaborates with Banks&Tech Partners on

The Monetary Authority of Singapore (MAS), DBS, HSBC, OCBC, UOB, SPTel and SpeQtral today signed a Memorandum of Understanding (MoU) to embark on quantum security collaboration and study the application of Quantum Key Distribution (QKD) [1] in financial services. QKD can help financial institutions (FIs) protect the exchange of cryptographic keys to address the cybersecurity threats posed by quantum computing.

Quantum computing technology has been developing rapidly and has demonstrated potential to break commonly used cryptography and encryption algorithms. This poses a major cybersecurity concern. In February 2024, MAS issued an advisory to all FIs on the cybersecurity risks associated with quantum technology, and provided recommendations for FIs to safeguard themselves against the identified threats, including to carry out proof-of-concept trials with quantum security solutions. More recently, MAS launched a quantum track under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0) to provide funding support for quantum projects and capabilities....
https://bit.ly/3MbZv3A

17/08/2024

Singapore key exports surge 15.7% in July, much stronger than expected

Singapore’s key exports saw an unexpectedly big jump in July, reversing a five-month slide as both electronics and non-electronics shipments grew strongly.

Non-oil domestic exports (Nodx) grew 15.7 per cent year on year in July, compared with a revised 8.8 per cent contraction in June and the 1.2 per cent expansion forecast by economists in a Bloomberg poll....
https://bit.ly/3X4KV43

Angela Tan
Via www.straitstimes.com

16/08/2024

Superbug killers on native soil

A newly discovered antibiotic compound found in local soil can potentially combat some of the world's toughest drug-resistant bacteria.

The solution to combating antibiotic resistance—one of the greatest threats to global health—might be right beneath our feet. As bacteria evolve genetic defences that render our existing antibiotics ineffective, microbiologists are urgently seeking new antimicrobial agents.

Elaine Jinfeng Chin, a Postdoctoral Researcher at A*STAR’s Singapore Institute of Food and Biotechnology Innovation (SIFBI), has turned to the natural world for answers, specifically examining bacteria from Singapore's soil.

“Actinobacteria are a diverse group of bacteria known for producing bioactive compounds,” said Chin. These microorganisms are like miniature factories, responsible for about 45 percent of all bioactive compounds derived from microbes, and have been pivotal in developing treatments for infections, cancer and inflammation. Despite their known potential, the actinobacteria indigenous to Singapore's soil are relatively uncharted.....
https://bit.ly/3yKJiiz

Via research.a-star.edu.sg

13/08/2024

Key management changes at S’pore , may signal strategic shifts ahead

Recent high-level management shuffles at Singapore’s two digital full banks – GXS Bank and MariBank – have raised questions about whether changes are afoot in the sector.

Mr Zennon Kapron, an independent analyst who has been involved with fintech for more than 20 years, noted that the executive movements could reflect internal strategic shifts, operational challenges or differing visions for the future direction of the banks.....
https://bit.ly/3WLzqwU

Chor Khieng Yuit
Via www.straitstimes.com

11/08/2024

Could homegrown beauty retail chain become Singapore’s answer to and ?

Novela co-founders Ben Lin and Eugene Tay share their entrepreneurial journey in the world of beauty, from cold-calling customers in the early days to the lessons learnt on the way as they aim for Asian domination.

Before starting the multi-brand Singaporean beauty retail chain Novela back in 2013, its co-founders Ben Lin, 39, and Eugene Tay, 34, didn't have any plans of carving out an entrepreneurial career based on skincare and perfumes......
https://bit.ly/3yLBkpg

Tan Wei Lin
Via cnalifestyle.channelnewsasia.com

10/08/2024

Doomed to depreciate? Ageing 99-year properties and the question of value

Experts say that lease decay may not always mean a depreciation in prices and capital value

THERE is a common understanding that the value of one’s home is intrinsically tied to its remaining tenure. An older 99-year leasehold condominium, for instance, is likely to see its market price decline as the lease runs down....
https://bit.ly/46ImcFV

Ry-Anne Lim
Via businesstimes.com

10/08/2024

Ambani, Bajaj, Birla collectively hold $460 bn, equating to 's GDP

India's most valuable family businesses are collectively worth a whopping Rs 6,009, 100 crore, as per anewly released report which has unveiled the country's most influential family-owned enterprises.

India's most valuable family businesses are collectively worth a whopping Rs 6,009,100 crore, according to a newly released report which has unveiled the country's most influential family-owned enterprises.....
https://bit.ly/4dEG4Me

Sunainaa Chadha
Via www.business-standard.com

09/08/2024

Singapore Early-Stage Emerging Tech Startup Landscape

A new report by SGInnovate gives entrepreneurs and investors a bird’s-eye view of Singapore’s deep tech startup ecosystem, highlighting trends, insights, and what to expect.

Download the full report here https://bit.ly/4cpimCB

If creating and running a successful startup is challenging, doing the same in the Deep Tech space is doubly so. Apart from a highly competitive landscape for funding and talent, the circumstances in which these startups operate are always shifting – regulatory landscapes evolve, market needs change, and technological advancements continuously redefine the playing field.....
https://bit.ly/46IYnxQ

Kellie Chan SGInnovate

08/08/2024

Robot-computer synergy propels a sustainable future

The innovative integration of robotics and machine learning accelerates the development of efficient, sustainable hydrogen catalysts.

For materials scientists, optimising chemical catalysts is like solving a Rubik’s Cube: each twist and turn represents an adjustment in chemical composition or process parameters, with only a precise combination of elements and conditions yielding the optimal catalyst.

“The traditional approach to materials discovery uses ‘Edisonian’ trial-and-error, with one-variable-at-a-time manual experimentation,” explained Yee-Fun Lim, a Principal Scientist at A*STAR’s Institute of Sustainability for Chemicals, Energy and Environment (ISCE2). This method not only demands significant time and effort but also stifles innovation by its sheer inefficiency...
https://bit.ly/4fuFX81

Agency for Science, Technology and Research (A*STAR)

07/08/2024

Changi Airport expands reach with new flights to , , and

Weekend getaway options from Singapore just got even better with new Scoot flights from Changi Airport that bring travellers straight to Malacca and Subang in Malaysia, and Kertajati in Indonesia. Of these, Malacca and Kertajati are brand new connections from Changi Airport. The new flights from Singapore Changi Airport to Malacca will also be the shortest flights departing from Changi.

Kicking things off on 1 September 2024 will be Scoot’s inaugural flight to Subang. This will be followed by Kertajati on 28 September 2024, and finally, Malacca on 23 October 2024.

The new flights to Malacca and Kertajati will be operated on Scoot’s new Embraer jets (E190-E2) that have recently made their debut in Changi Airport. The flight to Subang will be serviced by the Airbus A320 aircraft.....
https://bit.ly/3SDITVU

Changi Airport

06/08/2024

Common sense and genuine solutions needed to revive the Singapore stock market

Stock markets are a key component of an economic value chain, linking the corporate sector and start-up ecosystem to capital markets, and ultimately enabling companies to scale up commercially and mature into large entities.

In doing so, stock markets also become key ingredients of a healthy ecosystem of wealth management, including pension funds, family offices and sovereign wealth funds.....
https://bit.ly/3LTK3sz

Via www.straitstimes.com

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