Economy Singapore 

Banks kept at ‘overweight’ by UOB on Fed’s dovish stance, dividend yield

SINGAPORE (Jan 18): UOB Kay Hian is maintaining Singapore’s banking sector at “overweight” after the US Fed calmed the nerves of investors with its dovish disposition, which subsequently generated a relief rally. “We maintain ‘buy’ for both DBS and OCBC, although we prefer OCBC,” says analyst Jonathan Koh in a Friday report. The research house has target prices of $28.50 and $13.82 respectively. Fed’s narrative took a dovish turn in mid-Nov when Fed Chairman Jerome Powell highlighted potential headwinds buffeting the US economy in 2019, including a slowdown in growth…

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Economy Food Singapore 

Hawkers get faster access to funds from Nets transactions

SINGAPORE – In a move to address hawkers’ grouses about e-payment delays, Nets said on Thursday (Jan 17) proceeds from Nets transactions made before 5pm will now land in hawkers’ bank accounts by 11pm the same day. Proceeds from transactions made after 5pm will be credited to the hawkers’ bank accounts before 9am the next day. The firm said the initiative, which was launched on Thursday, will improve cash flow and give hawkers faster access to their funds. To be eligible for this new system, hawkers must have a DBS,…

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Economy Singapore 

Three-quarter tank rule to apply to Singapore-registered diesel vehicles leaving country from April

SINGAPORE – From April 1, Singapore-registered vehicles running on diesel will be required to have at least three-quarters of the tank filled when leaving Singapore via the land checkpoints. The Singapore Customs said in a statement on Wednesday (Jan 2) that the expansion of the three-quarter tank rule is in line with the recent introduction of a usage-based diesel duty. The measure, which was announced by Finance Minister Heng Swee Keat at Budget 2017, is meant to encourage drivers and fleet owners to use the fuel more judiciously and, consequently,…

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Asia Economy Indonesia Jakarta 

JAKARTA SHOULD NOT TURN TO MASS EVICTIONS AS PART OF CITY PLANNING FOR ECONOMIC SUCCESS

As a sociologist and media scholar with an interest in emerging forms of civic engagement, I initially came to Jakarta – the world’s Twitter capital – to research innovative social media uses. Instead, my first visits to an informal settlement near an estuary, Kampung Tongkol, in 2015 in North Jakarta, revealed something more hybrid: mixed-media participatory mapping of the settlement’s physical and socioeconomic infrastructure. They have also volunteered to partially remove their housing to make way for a road on the riverbank in the hope to avoid forced evictions, which usually happened…

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Dyson Economy Singapore UK 

Dyson chooses Singapore for new electric car plant

Dyson, the UK-based company best known for its vacuum cleaners, has chosen to build its new electric car in Singapore. The company will break ground on its new factory in Singapore later this year with the first car scheduled to roll off the production line in 2021. Dyson said the decision was based on the availability of engineering talent, regional supply chains and proximity to some key target markets. Cost was not a consideration. Singapore is one of the most expensive territories in the world to do business and space…

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Economy Indonesia Jakarta 

Indonesia starts to punish violators of foreign banknotes regulation

Bank Indonesia started on Monday to punish corporations or individuals who violate a Bank Indonesia regulation that limits the amount of of foreign banknotes that can be carried when crossing the Indonesian border. With the enforcement of Bank Indonesia Regulation (PBI) No. 20/2018 on the revision of PBI No. 19/7 2017, only licensed institutions – banks and money changing institutions – are allowed to carry more than US$1 million in banknotes. Violators of the regulation are required to pay a fine of up to 10 percent of the banknotes they carry, with the maximum fine set at Rp…

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China Economy Singapore USA 

Singapore needs to watch out for spillover effects from trade tensions: MAS

SINGAPORE: While the impact from rising trade tensions remains limited thus far with the economy expected to stay on a “steady expansion path”, Singapore needs to guard against potential spillover effects, said Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS). This is due to the country’s role as a node in the regional electronics production value chain, as well as a hub for air and sea transport and financial intermediation services, he said alongside the release of the central bank’s annual report on Wednesday (Jul 4). “Bilateral trade…

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Economy Johor Singapore 

Johor crown prince thanks Singapore for help during drought seasons

SINGAPORE: The crown prince of Johor, Tunku Ismail Sultan Ibrahim, on Thursday night (Jun 28) thanked Singapore for helping the state during its drought seasons. “Thank you to the Singaporean Government for helping Johor during the drought seasons and when we had our water crisis,” he said in a post on the Facebook and Twitter pages of the Johor Southern Tigers, the football club he owns. Describing Singapore as a “neighbour and a friend” in a separate Twitter post, the crown prince said that “we have always helped each other”. “May…

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Asia Crowdfunding Economy Indonesia Property 

INSPIRING HOME OF THE WEEK: HOUSE BUILT FOR WELLNESS IN INDONESIA

This cube-shaped stone home built in the idyllic setting of Lombok island, Indonesia, is named “Maleo” after the region’s local bird species, and sits neatly overlooking the Jabon hills and the golden sands of Selong Belanak beach. Australian architect Mitchel Squires designed the seven-bedroom residence to make the most of the spectacular rolling-hills setting: “I was really taken by its surroundings, in fact many parts of South Lombok are fairly untouched and local villagers were watchful of the new developments. “I wanted to set the tone for properties in the area. I was conscious to design something that blended in the with the landscape…

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Thailand ‘is new dumping ground for world’s high-tech trash’

Thailand is a new dumping ground for scrap electronics from around the world, say police and environmentalists, the latest country to feel the impact of China’s crackdown on imports of high-tech trash. Police at Laem Chabang port, south of Bangkok, showed on Tuesday seven shipping containers each packed with about 22 tonnes of discarded electronics, including crushed game consoles, computer boards and bags of scrap materials. Electronic refuse, or e-waste, is turning up from Hong Kong, Singapore and Japan, police said, some of it imported by companies without the required…

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