UK-Singapore free trade deal kicks in

elean 1 1 月

3 minutes

A free trade agreement (FTA) between the United Kingdom and Singapore takes effect from 7am today, ensuring that companies from both countries continue to enjoy the same trading benefits, even as the transition period for the UK's exit from the European Union ends. The EU-Singapore Free Trade Agreement will no longer apply to trade between UK and Singapore when the new deal kicks in, the Ministry of Trade and Industry (MTI) said yesterday. Both countries have completed their respective domestic procedures for the FTA's provisional application, which enables them to apply treaty commitments on a provisional basis until the FTA is ratified by both sides and enters into force. The UK is Singapore's third and second largest trading partner for goods and services, respectively, as well as its top investment destination in Europe. In turn, Singapore is the UK's largest trade and investment partner in South-east Asia. The UK-Singapore FTA was inked on Dec 10 by Minister for Trade and Industry Chan Chun Sing and UK Secretary of State for International Trade Elizabeth Truss. MTI said the UK-Singapore FTA provides certainty and clarity in trading arrangements between both countries. "Compani...

SeaPRwire

Competition and Consumer Commission of Singapore gets new chairman and board members

aseanpr 31 12 月

2 minutes

SINGAPORE - A new chairman and three new board members have been appointed to the Competition and Consumer Commission of Singapore (CCCS), said the Ministry of Trade and Industry (MTI) on Thursday (Dec 31). Their term will start on Jan 1. Mr Max Loh Khum Whai, 58, the managing partner at Ernest & Young in Singapore and Brunei since 2019, will replace Mr Aubeck Kam, 50, as chairman of CCCS. Mr Loh was also former managing partner of the firm for Singapore and Asean, and has more than 18 years of experience as a partner. He has previously led assignments as reporting accountant for companies across Asia-Pacific on the Singapore Exchange, Hong Kong Stock Exchange and Shenzhen Stock Exchange. Mr Lee Chuan Teck, Permanent Secretary (Development) for the Ministry of Trade and Industry (MTI), expressing his appreciation for Mr Kam for his contributions to CCCS, said: "Under Aubeck's leadership, CCCS has safeguarded competition in markets and took on its expanded role of protecting consumers." Mr Kam has also held senior appointments in several public sector organisations, including the Singapore Police Force, MTI, Ministry of Manpower (MOM), Media Development Authority and the Ministry of...

SeaPRwire

Numbers game for second Singapore electric motorbike firm Ion Mobility

aseanpr 27 12 月

1 minute

SINGAPORE - One of Scorpio Electric's former co-founders has started a venture which makes electric scooters for the masses. Mr Joel Chang, chief operating officer of Ion Mobility, told The Straits Times he left Scorpio because he felt targeting an electric two-wheeler at the masses would be a more efficient way of addressing air pollution - a key mission of the start-up. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

SeaPRwire

A great way to have a vacation at home

aseanpr 24 12 月

5 minutes

Craving for a decadent slice of the Parisienne epicurean experience filled with luscious pastries and canapes paired with glasses of bubbly or missing that sun-kissed Balinese vacation by the pool nestled in verdant greenery? Although travelling overseas is not possible currently, those who want to satiate their wanderlust can stand a chance to do so with the staycation prizes^ of American Express and Singapore Airlines’ The Perfect Vacation at Home Draw. The draw is held in conjunction with the landmark 20th anniversary of the Card partnership between the leading credit card company and national carrier. American Express and Singapore Airlines started their partnership in the 1980s. PHOTO: ST FILE For two decades, travelling around the globe on Singapore Airlines has been made more enticing through an enduring alliance with leading credit card company American Express. Associated with KrisFlyer, Singapore Airlines’ frequent flyer programme, the series of co-brand credit cards include the American Express Singapore Airlines KrisFlyer Credit Card, American Express Singapore Airlines KrisFlyer Ascend Credit Card (‘Ascend’), American Express Singapore Airlines PPS Club Credit Card and...

SeaPRwire

Secondary school students bone up on business concepts with Web app by UBS Singapore staff

aseanpr 24 12 月

3 minutes

SINGAPORE - Secondary school students in an entrepreneurship programme are getting a fillip from a Web app developed by volunteers from Swiss investment bank UBS. The app tackles business concepts such as expenditure and revenue. The Secondary 3 Normal (Academic) and Normal (Technical) students are from local youth development charity Halogen Foundation's Network for Teaching Entrepreneurship programme, which is designed to help them learn business fundamentals. The programme consists of a hands-on curriculum run over the course of a year in local schools. The break-even analysis Web application developed by UBS Singapore staff is meant to help young people undergoing the entrepreneurship training better understand how their expenditure and revenue play a part in the financial performance of their business concepts. UBS Singapore and Halogen Foundation, a charity that focuses on building young leaders and entrepreneurs, are into their fourth year of collaboration as at this month. Mr Mayank Mehra, who heads UBS' Asia-Pacific client reporting delivery department, said: "We had several brainstorming sessions internally and together with Halogen to conceptualise the application and pr...

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Singapore’s first head of navy Jaswant Singh Gill dies, aged 97

aseanpr 21 12 月

4 minutes

SINGAPORE - Mr S. Jaswant Singh Gill, Singapore's first head of navy and a pillar of the Sikh community, died last Saturday (Dec 19) at about 10am, aged 97. He was running a fever caused by pneumonia and was being readied to be taken to hospital when he died in his home. He is survived by two sons and four daughters. Mr Gill had come to Singapore with his uncle when he was six, and served in key defence positions in Singapore's fledgling years after fighting for Singapore during Konfrontasi, a conflict between Indonesia and the then Federation of Malaysia which took place between 1963 and 1966. In addition to being Commander of the Singapore Naval Volunteer Force when the British left in 1967, he was the Commanding Officer of Pulau Blakang Mati Camp, the head of the Singapore Armed Forces training department in the general staff division, and the Commander of Tengah Air Base and Changi Air Base. He retired from the Singapore Armed Forces in 1972, with the rank of Lieutenant-Colonel. The Republic of Singapore Navy, in a tribute to Mr Gill, said on Facebook on Sunday that it is deeply indebted to the commander. "Just as our white ensign continues to fly daily, his words will be etche...

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A*Star, alternative protein firm Perfect Day setting up joint R&D lab in Singapore

aseanpr 21 12 月

4 minutes

SINGAPORE - Alternative protein company Perfect Day, which produces animal-free dairy proteins, is linking up with the Agency of Science, Technology and Research (A*Star) to set up a research and development lab here. The lab, which will open in April 2021, will support the California-headquartered firm's global R&D activities. It will help ensure the accuracy, specificity and consistency of the firm's processes and products, which can be used to make milk, cheese and ice cream. At the same time, Perfect Day will also hire and train a pool of researchers, scientists and engineers for microflora protein innovation in Singapore, helping to develop the local R&D talent and exposing them to high-value opportunities. It anticipates that its workforce in Singapore will be about 10 per cent of its headcount in the near term, said Perfect Day co-founder Perumal Gandhi. The firm currently has about 200 employees. Announcing the lab on Monday (Dec 21) during a visit to A*Star, Trade and Industry Minister Chan Chun Sing noted how the agri-food tech sector is one of growing importance in Singapore's economy as the world looks for innovative, cost-effective and sustainable food solutions to fee...

SeaPRwire

Singapore start-ups serve up innovative waste solutions

elean 19 12 月

1 minute

Road construction material, beer and energy - these are some things that start-ups in Singapore are looking to produce as they reuse or recycle waste. Waste management is a growing sector here, with more innovators and entrepreneurs working across the entire supply chain, from collection to processing, and in education, said ecosystem players. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Singapore start-ups find solutions to give waste a new lease of life

elean 19 12 月

1 minute

SINGAPORE - Road construction material, beer and energy - these are some things that start-ups in Singapore are looking to produce as they reuse or recycle waste. Waste management is a growing sector here, with more innovators and entrepreneurs working across the entire supply chain, from collection to processing, and in education, said ecosystem players. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Youth under probe for entering rhino enclosure

aseanpr 19 12 月

2 minutes

The police are investigating an incident involving a youth who trespassed into the white rhinoceros enclosure at the Singapore Zoo on Thursday. Videos being circulated show the man doing a backflip inside the enclosure, before leaping over the barricade and back onto the visitors' footpath. Four rhinos can be seen inside the enclosure. The original video was uploaded onto the youth's TikTok account, which has around 33,000 followers, but it appears to have been taken down. Wildlife Reserves Singapore told The Straits Times that it filed a police report on Thursday. It condemned the youth's actions in an Instagram story posted yesterday, calling it a "reckless and mindless act which is socially irresponsible, extremely dangerous and simply disrespectful to wildlife and animals". The zoo operator also urged people not to pull such stunts as lives could be put in danger. In November 2008, a 32-year-old Malaysian man was mauled to death by three white tigers after deliberately climbing into an exhibit at the Singapore Zoo. The man, who worked as a cleaner, had jumped into the moat that separated the tigers from visitors and waded towards the creatures. He was attacked and killed in ful...

ACN Newswire

The Collective for Equality Launched; Aims to Enlist C-Suite commitment for better Workplace Gender Balance in Singapore

indie 17 12 月

4 minutes

SINGAPORE, Dec 17, 2020 - (ACN Newswire) - Singapore-headquartered WomenIconsNetwork.com (WIN), has announced the launch of an initiative - The Collective for Equality (Singapore) - to promote and support the actions of organizations, programs and people working towards achieving the United Nations Sustainable Development Goal 5 that deals with achieving Gender Equality and empowering all women and girls. A not-for-profit country-specific initiative, The Collective will be guided on a pro bono basis by a Council of Leaders and will urge CEOs in Singapore to not only commit time, effort and resources for ensuring gender-balanced workplaces but also share their goals, experiences and challenges, thus inspiring equality in all walks of life. The aim is to 1) Expand C-Suite support for Gender Equality; 2) Deepen organization commitment for Gender Equity; 3) Broaden the pool of aspiring women leaders. Grace Park, Manisha Seewal and Dr Vinika Rao join as the Council of Leaders to advise on The Collective' efforts in Singapore. The Council will be expanded with other like-minded leaders. Speaking on the occasion of the launch, Grace Park, Co-Founder & President, DocDoc said, "Though t...

SeaPRwire

No reason to believe Singapore was a target in FireEye hack: CSA

aseanpr 16 12 月

3 minutes

SINGAPORE - There is no reason to believe that Singapore was a target of the recent high-profile hacking attack involving cyber security firm FireEye and software provider SolarWinds Corp, authorities said late on Tuesday (Dec 15). Even so, the Cyber Security Agency of Singapore (CSA) said that it has sent out an advisory on Dec 9 for firms to disconnect affected cyber security tools and update their systems to protect against cyber criminals. FireEye, one of the largest cyber security companies in the United States, said earlier this month that it was hacked in a state-sponsored attack. The firm's hacking tools, which are used to test the defences of its clients, was stolen in the process. The attack on a firm which holds a range of contracts in the United States and its allies, is among the most significant breaches in recent memory. The company is a strategic partner of CSA, which oversees national cyber security functions and protects Singapore's critical services. Following the firm's investigations this week, FireEye discovered that one of its software providers - US-based SolarWinds Corp - was hacked as well, and was used to gain entry into US' government systems. Investigat...

SeaPRwire

US and Singapore ink memorandum to improve trade relations

elean 16 12 月

2 minutes

WASHINGTON (AFP) - The United States on Tuesday (Dec 15) announced it had signed a memorandum of understanding to improve trade relations with Singapore, as both countries eye economic recoveries following the Covid-19 pandemic. The United States is already the largest foreign investor in Singapore, which is in turn the fourth-largest Asian investor in the American economy. In a statement, the US Commerce Department said the renewable, two-year memorandum would "enhance the availability of and access to trade financing options for US and Singapore companies." "This (memorandum of understanding) will help Singapore importers finance the purchase of US exports and support Singapore investors looking at opportunities in the US," Commerce Secretary Wilbur Ross said in the statement. The agreement made in the final weeks of US President Donald Trump's administration comes after Singapore last week signed a free trade agreement with the United Kingdom following Britain's departure from the European Union. "As like-minded partners, Singapore and the US are committed to supporting our businesses as they respond to the global economic disruptions caused by Covid-19," Singapore's Minister fo...

SeaPRwire

Company briefs: Hyflux

elean 16 12 月

2 minutes

Hyflux The judicial managers of water treatment firm Hyflux and its unit Hydrochem are in talks with 14 new potential investors, and aim to identify a suitable investor by the end of next month. But these managers - from Borrelli Walsh - said yesterday that they are unable to disclose the identities of the investors, many of whom had contacted them only recently. They also said they have contacted five investors who previously expressed interest in Hyflux and Hydrochem, and continue to work with some of them. THE BUSINESS TIMES Keppel Land Keppel Land has taken a strategic minority stake in Cove Living as the lead investor in the co-living start-up's US$4.6 million (S$6.1 million) Series A funding round. Headquartered in Singapore, Cove has about 300 bedrooms and studios in Singapore and about 250 in its new market of Jakarta. It expects to double its offering to around 1,000 rooms by the first half of next year. Keppel Land did not disclose the size of its stake in the company, which was founded in 2018. SBS Transit SBS Transit has partnered France's RATP Dev to explore new business prospects in the Singapore rail industry. They will set up a company to be run by a team of experie...

SeaPRwire

Citi hiring 330 relationship managers for new wealth hub

elean 15 12 月

3 minutes

Citibank Singapore will be hiring 330 relationship managers over the next five years for its newly opened wealth hub here. The hub was officially opened at 268 Orchard Road yesterday and is the bank's largest wealth advisory hub globally. Citibank has moved 300 relationship managers, advisers, specialists and staff from other branches to the wealth hub. "With a rapidly growing affluent client base in Singapore, the bank's strategy is to further enhance its ecosystem of digital tools and wealth hubs, deliver more innovative mobile solutions and expand its talent pool," Citi said in a media statement. The bank also aims to double its assets under management here and triple the number of its affluent clients by 2025. "Citi has an enormous opportunity to serve the growing affluent segment in Singapore. In line with our growth aspiration and despite a uniquely challenging year, we grew qualified clients by close to 5 per cent in 2020 compared with 2019," said Mr Brendan Carney, chief executive of Citibank Singapore and Asean cluster head of the global consumer banking division. "Citi Wealth Hub at 268 Orchard will further enhance our capacity to serve our clients and bring best-in-class...

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Five schools recognised for efforts in improving mental health

aseanpr 11 12 月

3 minutes

SINGAPORE - Five educational institutions here were recognised on Friday morning (Dec 11) for their efforts in promoting mental health awareness on campus. They received the inaugural Silver Ribbon Mental Health Awards for Schools in a virtual Zoom ceremony attended by Minister of State for Education and Manpower Gan Siow Huang. Silver Ribbon (Singapore) is a mental health advocacy organisation that organised and gave out the award. In her speech, Ms Gan said all students must have access to timely support, including getting referrals for mental health and social support in the community. "However, schools can't do this alone. Strengthening mental health of our young is a whole-of-society effort," she added. The awards are meant to acknowledge and applaud the effort of schools in holding workshops and talks for staff and students and encouraging students to embark on mental-health related projects, among others. The recipients were Nanyang Technological University, River Valley High School, PSB Academy, Singapore Management University and Singapore University of Social Sciences. In her speech, Silver Ribbon (Singapore) president Ellen Lee said one in four young people experienced l...

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Merger of Cathay cinemas with Golden Village proposed as Covid-19 bites business

elean 10 12 月

3 minutes

SINGAPORE - Singapore-listed mm2 Asia has entered into a heads of agreement for the possible merger of its Cathay cinema business with Golden Village cinemas in Singapore, which is owned by Orange Sky Golden Harvest Entertainment (Holdings) Limited (OSGH). As part of the deal, the two companies aim to bring in new investors to inject more capital into the combined business, which would be the largest cinema operator here. mm2 Asia owns eight cinemas in Singapore under the Cathay brand, and 14 cinemas in Malaysia under the Cathay Cineplexes Malaysia, Mega Cinemas and Lotus Fivestar labels. It also owns a movie film distribution business and an online streaming business. OSGH has 14 Golden Village cinemas here. The Hong Kong-listed company, previously known as Golden Harvest, operates a total of 35 cinemas with 285 screens in Hong Kong, Taiwan and Singapore. A merger of the two cinema businesses would not only provide economies of scale, but also give more financial and operating stability to mm2 Asia's cinema business given the challenges faced by operators since the Covid-19 outbreak, the Singapore company said in a filing with the Singapore Exchange (SGX) on Wednesday evening (Dec...

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AirTrunk opens its first Singapore data centre

elean 9 12 月

2 minutes

SINGAPORE (THE BUSINESS TIMES) - AirTrunk on Wednesday (Dec 9) opened its first Singapore data centre - located on 1.5 hectares of land in Loyang due to its close proximity to the Changi North Cable landing station, allowing for strong international connectivity, the company announced in a statement. Named AirTrunk SGP1, the scalable data centre is "a key part of the company's growing Asia-Pacific platform", and will boast an overall capacity of more than 60 megawatts (MW) upon completion. Currently in its first phase, the data centre has opened with a capacity of 30 MW. Construction for phase two is already underway "to cater for strong customer demand". Focusing on sustainability and minimising carbon footprint, SGP1 is "designed with a range of innovations" to deliver a power usage effectiveness of 1.25, using 40 per cent less water than the industry average, said AirTrunk. The Asia-Pacific hyperscale data centre specialist also noted that the facility - catered for hyperscale customers to aid their rapid growth in Singapore and throughout South-east Asia - is the most land-use efficient in the market, offering the highest IT load per square metre. Founder and chief executive of...

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Competition watchdog looking into cooperation between SIA and Vistara on flights to India

aseanpr 8 12 月

2 minutes

SINGAPORE - Singapore's competition watchdog is seeking public feedback on whether a proposed cooperation between Singapore Airlines (SIA) and Vistara for flights to and from India could adversely affect passengers. The application for collaboration between the two airlines, submitted to the Competition and Consumer Commission of Singapore (CCCS) in November, could merge 16 routes that the two airlines now ply separately, including flights from Singapore to Indian cities including Mumbai, New Delhi, Kolkata and Hyderabad. Concerns that the reduction in flights could affect ticket prices and seat capacity can be submitted to the CCCS till Dec 21. Vistara is a joint venture between SIA and Indian company Tata Sons and began operating flights in 2019. The agreement between SIA and Vistara to work together on scheduling, pricing, selling, and marketing related to flights between Singapore and India was inked on Feb 13, before the coronavirus crippled the air industry. The CCCS said the two airlines argued that the cooperation is unlikely to distort competition on the 16 routes in question due to the many existing competitors already plying them. They said their passenger share, taken t...

ACN Newswire

ATF Online+ Caps Off its First Week with Fresh Insights for 2021

indie 8 12 月

8 minutes

SINGAPORE, Dec 8, 2020 - (ACN Newswire) - The 21st Asia TV Forum & Market (ATF), Asia's leading entertainment content and conference, capped off the first week of its digital edition - ATF Online+, with 2,320 unique attendees from 60 countries and regions as of 4 December 2020. The platform is available on-demand until 28 February 2021.Mr. Yeh Chien Ee, President, Asia Pacific, Reed ExhibitionsATF Online+ kicked off with an Opening Ceremony at the new state-of-the-art Hybrid Broadcast Studio located in Marina Bay Sands, Singapore on 1 December 2020. Mr S Iswaran, Minister for Communications and Information, Singapore officiated the launch in front of a physical audience of key industry players. The event was concurrently streamed live to a global audience watching via ATF Online+ and on Facebook. The ceremony was followed by a fireside chat between the Minister and Mr. Steven Chia, Presenter/Senior Editor of Channel News Asia, on the future of the media and entertainment industry, where he mentioned how companies need to create a wider variety of content, and the opportunities the Asian media market presents.Business as usual at ATF Online+, with new connections made and deals ...

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