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BUSINESSSep 8In Singapore, malls for shopping only are going out of styleWhile the announcement last week of the closure of a 40-year-old mall in Singapore’s Marina Bay district for redevelopment has caused an outpouring of sentiment among shoppers and tenants, experts say the prime real estate has to be updated into a mixed-use site to survive in the city state. Last Monday, property developer Singapore Land Group (SingLand) said in a statement that Marina Square, which was completed in 1986, would close on March 31 for a redevelopment that would include features...South China Morning Post
BUSINESSSep 5Chinese food delivery platform sparks buzz after rider flies to Singapore for curry puff runA Chinese man dressed in a food delivery uniform has sparked widespread curiosity online after he was seen in Singapore buying curry puffs for a customer in China to fulfil a “cross-border food order.” On August 31, Chloe, a Chinese woman living in Singapore, shared a video depicting the man in a Meituan uniform waiting at Hong Lim Curry Puff, a snack shop located in PLQ Mall, about a 17-minute drive from Changi Airport. Meituan is among China’s largest food delivery platforms. Chloe informed...South China Morning Post
BUSINESSSep 4Malaysian prince ‘more than happy’ to pay US$1.6 billion levy linked to Singapore land dealThe son of Malaysia’s king has dismissed a report that a potential tax bill of more than S$2 billion (US$1.6 billion) is complicating his plans to sell 16.6 hectares (41 acres) of land in Singapore, saying he was “more than happy” to absorb levies on both sides of the causeway. “As a regular taxpayer, this is normal. No complication and more than happy to contribute to both countries. Should make it double,” Tunku Ismail Sultan Ibrahim posted on social media on Thursday, hours after the...South China Morning Post
BUSINESSSep 4China arrests 52 Singaporeans in Guangxi pyramid scheme crackdownFifty-two Singaporeans have been arrested and detained in China’s Guangxi Zhuang autonomous region following a law enforcement operation targeting suspected pyramid scheme activities and related offences, according to Singaporean authorities. Singapore’s Ministry of Foreign Affairs and the Singapore Police Force revealed the arrests in a joint statement on Friday, noting that Chinese authorities were still investigating the cases. Sim Ann, Singapore’s second minister for foreign affairs, said...South China Morning Post
BUSINESSSep 3Asean can be self - sufficient in energy , food with an integrated market : Singapore chief climate negotiatorbusinesstimes.com.sg · Singapore
BUSINESSSep 3BitGo opens new Singapore office following two years of licensed APAC growthBitGo has opened a new office in Singapore, following two years of licensed growth in the Asia-Pacific (APAC) region. This move signifies the company's continued expansion in the region.Seeking Alpha Tech
BUSINESSSep 3Luxury homes in Singapore’s largest money laundering case hit the auction blockAnother 14 luxury condominium units and a grade A office at Suntec Tower One forfeited in connection with Singapore’s largest money laundering case will be put up for sale at auctions this month. The properties, located in prime areas such as River Valley and Orchard, will be auctioned by real estate firms Edmund Tie & Company (ETC) and Knight Frank. As of Thursday morning, a total of 25 properties have been listed for auction. ETC will auction units at South Beach Residences, 8 Saint Thomas and...South China Morning Post
BUSINESSAug 31Singapore to invest US$173m over 3 years to boost fintech innovationSingapore will commit S$220 million (US$173 million) over three years to boost its fintech sector, including co-funding at least 1,000 internships in a strong push to build talent for AI and other emerging technologies. The funds come under the latest iteration of the Financial Sector Technology and Innovation Scheme (FSTI), which aims to strengthen the country’s fintech space and accelerate innovation and technology adoption in the financial sector. The industry currently has more than 1,800...South China Morning Post
BUSINESSAug 31Hong Kong and Singapore property shrug off fund tax breaksThe long-standing rivalry between Asia’s two leading financial centres is heating up. As Hong Kong and Singapore compete harder for investment talent, tax incentives for fund managers have emerged as the new battleground. A government bill working its way through Hong Kong’s Legislative Council would result in sweeping changes to tax rules on carried interest. The legislation, which is expected to be approved later this year, would offer preferential tax treatment to a wider range of alternative...South China Morning Post
BUSINESSAug 31Singapore firms keen to tap Northern Metropolis’ ‘massive potential’, envoy saysSingaporean businesses are keen to explore the “massive potential” emerging in Hong Kong’s Northern Metropolis megaproject after the country’s prime minister visited the site earlier this year, its top envoy to the city has said. In an exclusive interview with the South China Morning Post, Singapore’s consul general to Hong Kong, Eric Teo Boon Hee, said the country’s business chambers were considering fact-finding missions to explore opportunities in the 30,000-hectare development. During a...South China Morning Post
BUSINESSAug 30Wife of British man who died after turbulence sues Singapore AirlinesThe wife of a British passenger who died after severe turbulence struck Singapore Airlines (SIA) flight SQ321 in May 2024 has begun legal proceedings against the carrier in Britain, seeking damages after she suffered serious spinal injuries in the incident. Linda Kitchen, 74, broke her back during the flight and has begun High Court proceedings seeking damages to help her access specialist support for her recovery, the BBC reported. Her husband Geoff Kitchen, 73, had also died on the...South China Morning Post
BUSINESSAug 29Temasek backs Singapore Airlines’ Air India investment amid growing scrutinySingapore state investor Temasek, the ⁠majority shareholder of Singapore Airlines , on Saturday backed the airline’s investment in Air India, as scrutiny grows over its stake in the loss-making Indian carrier. Air India’s request for about US$1.5 billion in fresh equity from owners Tata Sons and Singapore Airlines was ‌first reported by Reuters this week. Singapore Airlines owns 25.1 per cent of India’s second-largest airline, with the rest owned by Tata. News of the funding request prompted...South China Morning Post
BUSINESSAug 29Singapore to auction luxury goods, properties from US$2.4 billion money laundering caseMore than 1,000 luxury items and 80 real estate properties forfeited in Singapore’s S$3 billion (US$2.4 billion) money laundering case would go under the hammer from September 7, audit firm Deloitte said on Saturday. The properties will be auctioned by SRI, Edmund Tie & Company and Knight Frank, while auction house Hotlotz will handle the luxury goods, comprising jewellery, watches and handbags. Some selected properties will also be offered for sale through an expression of interest process run...South China Morning Post
BUSINESSAug 27China’s super-rich fled Singapore. Now they want to come backWealthy Chinese are reconsidering Singapore as Beijing’s offshore wealth scrutiny and geopolitical risks make alternatives less attractive.CNBC
BUSINESSAug 27Singapore MP opposes Temasek funding for Air India amid US$1.5 billion pleaA Singapore opposition lawmaker has urged that state investor Temasek’s money not be used to shore up Air India, after the Indian carrier had asked owners Tata Sons and Singapore Airlines, which Temasek majority-owns, for US$1.5 billion. Kenneth Tiong, a member of parliament for the opposition Workers’ Party, said ‌in a social media post on Wednesday that because Singapore Airlines owns about 25 per cent of Air India and Temasek in turn owns most of the Singapore carrier, the request was “not...South China Morning Post
BUSINESSAug 27Singapore police raid iron ore trader Radiant World over fake document claimsSingaporean police raided the local office of iron ore trader Radiant World last week and questioned some of the firm’s employees, according to people familiar with the matter, part of an investigation into the company’s transactions after some counterparties raised concerns about allegedly falsified documents. Several major commodity traders have cut ties with the company amid concerns that it provided invoices or other documents to its banks that were not valid. The Singapore police said that...South China Morning Post
BUSINESSAug 27Hong Kong remains most international city in Asia, widening lead over SingaporeHong Kong has widened its lead over Singapore as Asia’s most international city, buoyed by gains in innovation and ideas, but still trails in attracting technology investment, a leading business chamber study has found. The Hong Kong General Chamber of Commerce’s annual Asian Cities Internationality Index, released on Thursday, ranked Hong Kong first among 11 Asian cities with 74.6 out of 100 points in a measure of seven key areas. Its lead over Singapore widened to two points, up from 0.2...South China Morning Post
BUSINESSAug 26Temasek-backed investor behind Unitree pitches Singapore as Chinese robots' path to U.S.As Washington shuts out Chinese robotics, a Temasek-backed VC bets that startups with genuine development in the city-state can still reach American buyers.CNBC
BUSINESSAug 26Air India seeks $1 . 9b from owners Tata , Singapore Air as losses mount , sources sayAir India is reportedly seeking $1.9 billion from its owners, Tata and Singapore Air, as the airline faces mounting losses. This indicates significant financial challenges for the major carrier.asiaone.com · Singapore
BUSINESSAug 24Singapore core inflation hits 2 - year high | The Peninsula QatarSingapore's core inflation has reached its highest level in two years. This economic data indicates a notable increase in the cost of living and potentially broader economic implications.thepeninsulaqatar.com · Qatar
BUSINESSAug 24Singapore inflation hits highest in nearly two years, but undershoots expectationsConsumer prices rose 2.2% last month, compared with the 2.3% expected by economists polled by ReutersCNBC
BUSINESSAug 23DayOne Secures $415m Green Loan For Singapore Data CentreDayOne has secured a $415 million green loan to finance a data center project in Singapore. This highlights investment in sustainable infrastructure and the technology sector.crowdfundinsider.com · United Kingdom
BUSINESSAug 22Northland dry dock plan goes to fast track while a Cook Strait ferry sits in SingaporeA plan for a Northland dry dock is being fast-tracked while a Cook Strait ferry is currently in Singapore. This suggests developments in maritime infrastructure and related operational challenges.newswire.co.nz · New Zealand
BUSINESSAug 21Hong Kong financiers press for tax breaks after Singapore unveils rival schemeHong Kong should press ahead with its proposed tax break on carried interest, the performance fees earned by hedge fund and private equity managers, after Singapore unveiled a rival tax-exemption scheme, according to industry participants. The bill, submitted to lawmakers in June and expected to come to a vote later this year, has sparked debate in the financial industry. Some participants argue that the exemption is too narrow in scope, while others question the fairness of exempting...South China Morning Post
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