Singapore

MAS revokes capital markets services licence of financial institution Apical Asset Management
31Jul By Desk TeamNo Comments
Market, Singapore, World

MAS revokes capital markets services licence of financial institution Apical Asset Management

SINGAPORE: The Monetary Authority of Singapore (MAS) has revoked the capital markets services licence of Apical Asset Management (AAMPL) on Tuesday (Jul 28). The revocation of the company's license is due to "serious breaches of MAS' anti-money laundering/countering financing of terrorism (AML/CFT) requirements", according to the authority's media release. For a company to conduct financial activities under the Securities and Futures Act, it has to hold a capital markets services (CMS) licence. 'SEVERE DEFICIENCIES' The MAS said it uncovered "severe deficiencies" in the company’s AML/CFT controls from 2013 to 2018. The financial institution did not have the relevant basic policies and procedures in place which exposed it to the "risk of receiving and/or laundering the proceeds of...
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Pakistan jolts all-weather ally China, warns its app TikTok, blocks Bigo Live
31Jul mmBy Joe RodriguezNo Comments
Asia, Singapore

Pakistan jolts all-weather ally China, warns its app TikTok, blocks Bigo Live

Pakistan has given a big jolt to the business ambition of Chinese tech firms in the country by issuing a “final warning” to video-sharing app TikTok over obscene and immoral content and blocking the Bigo Live streaming application.Such moves from Pakistan is unexpected for China, since it was Beijing which has invested billions of dollars in the country.The Pakistani establishment's unhappiness with theses Chinese social media applications is not overtly linked to security or geopolitical issues like India that banned 59 Chinese apps on security grounds.The United States is also seriously mulling a ban on TikTok, alleging that it's a front for data mining and all user data is shared with the Chinese government. TikTok is under scrutiny in Australia too for similar reasons.So even if there ...
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JB-Singapore RTS Link project signing ceremony to be held on Jul 30, says Malaysian transport minister
31Jul By Desk TeamNo Comments
Singapore, World

JB-Singapore RTS Link project signing ceremony to be held on Jul 30, says Malaysian transport minister

SINGAPORE: Malaysian Transport Minister Wee Ka Siong has confirmed that a signing ceremony will be held on Jul 30 to finalise the agreements between Singapore and Malaysia to proceed with the Rapid Transit System (RTS) Link project. In a parliamentary oral reply on Tuesday (Jul 21), Dr Wee said that the prime ministers for both countries will witness the ceremony, which will be held at the Johor-Singapore Causeway. He said that both countries have completed negotiations for the Johor Bahru-Singapore RTS Link project and are prepared to sign three agreements during the ceremony - a bilateral agreement, a concession agreement and an agreement to form a joint venture company to operate the rail line. He was responding to a question by Johor Bahru Member of Parliament Akmal Nasrullah ...
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England scraps quarantine for 50 countries – but not US
31Jul By Desk TeamNo Comments
Singapore, World

England scraps quarantine for 50 countries – but not US

LONDON: Britain will end coronavirus quarantines for people arriving in England from more than 50 countries, including Germany, France, Spain and Italy - but not the United States - the government said on Friday (Jul 3). The move, effective July 10, clears the way for millions of British tourists to take summer holidays without worrying about being quarantined when they return. Those arriving from higher risk countries will still have to self-quarantine for 14 days under a rule which has angered airlines and travel companies. Prime Minister Boris Johnson's government had debated for days how to ease the quarantine rules. Scotland, Wales and Northern Ireland, which set their own health policies within the United Kingdom, have not announced plans to lift the measures. "Today marks the...
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GE2020: New Yio Chu Kang SMC sees straight fight between PAP and PSP
30Jul By Desk TeamNo Comments
China, Singapore, World

GE2020: New Yio Chu Kang SMC sees straight fight between PAP and PSP

SINGAPORE: The new Yio Chu Kang SMC will see a straight fight between the People’s Action Party (PAP) and the Progress Singapore Party (PSP). After nomination papers were filed at Deyi Secondary School on Tuesday (Jun 30), it was confirmed that PAP’s Yip Hon Weng and PSP’s Kayla Low will challenge the seat. Mr Yip, 43, is a new PAP candidate. The former public servant was previously group chief of the Silver Generation Office at the Agency for Integrated Care. Ms Low is a chartered accountant and former prisons officer. The 43-year-old volunteers with lower-income families and the elderly. In his speech after the candidates were confirmed, Mr Yip pledged to do his very best to serve Yio Chu Kang residents "I will listen to your ... needs and concerns," said Mr Yip. ...
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GE2020: In Yio Chu Kang broadcast, PAP focuses on elderly support; PSP calls for a ‘compassionate government’
29Jul By Desk TeamNo Comments
China, Singapore, World

GE2020: In Yio Chu Kang broadcast, PAP focuses on elderly support; PSP calls for a ‘compassionate government’

SINGAPORE: Candidates from the People’s Action Party (PAP) and the Progress Singapore Party (PSP) delivered their constituency political broadcasts for the new Yio Chu Kang SMC on Wednesday (Jul 8). Mr Yip Hon Weng from the PAP spoke first in English and Mandarin. This was followed by PSP’s Kayla Low, who spoke in Mandarin and English. YIP HON WENG: FIRST-HAND EXPERIENCE IN UNDERSTANDING CONCERNS OF ELDERLY Mr Yip, a new face in the PAP, said that he wants to contribute in caring for seniors in Yio Chu Kang. Running the Silver Generation Office for “many years” gave him “first-hand experience (in) understanding the concerns and aspirations of the Pioneer and Merdeka generation seniors”, he said. Mr Yip, 43, said while many elderly people can access the help that they need, others ...
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POFMA Office instructed to issue correction directions to Facebook pages of State News Singapore, Alex Tan
29Jul By Desk TeamNo Comments
Singapore, World

POFMA Office instructed to issue correction directions to Facebook pages of State News Singapore, Alex Tan

SINGAPORE: The alternate authority for the Minister for Foreign Affairs has instructed the Protection from Online Falsehoods and Manipulation Act (POFMA) Office to issue a correction direction each to the Facebook pages belonging to State News Singapore and Mr Alex Tan. The alternate authority, who in this case is the Ministry of Foreign Affairs' Permanent Secretary Chee Wee Kiong, also issued Facebook a targeted correction direction, the Office said in a media release on Monday (Jun 29). This is the first instance of an alternate authority issuing correction directions under POFMA. The Act states that ministers may appoint public officers to issue orders under POFMA during an election period, which is defined as the period between the day a writ of election is issued and the close ...
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Commentary: What next for Hong Kong and its people?
28Jul By Desk TeamNo Comments
Singapore, World

Commentary: What next for Hong Kong and its people?

The new national security law gives China a tighter grip over Hong Kong, says Dr Lim Tai Wei. SINGAPORE: Through a vote in the Chinese parliament, Beijing pushed through the national security law for Hong Kong (HK) on Jun 30. Critics like the HK Bar Association lamented that the procedure for enacting the national security law through the Chinese parliament bypassed the HK legislature. But, the HK government’s failure to pass Article 23 in the first place is cited as a major reason by many for Beijing stepping in and taking over the role. Moreover, even the experts who disagreed with the procedure for the bill’s enactment acknowledge that it is difficult to reverse Beijing’s determination to implement the national security law. Veteran contemporary China expert Jean-Pierre Cabestan...
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GE2020: SingCERT issues tips on staying safe in cyberspace during election period
26Jul By Desk TeamNo Comments
Singapore, World

GE2020: SingCERT issues tips on staying safe in cyberspace during election period

SINGAPORE: The Singapore Computer Emergency Response Team (SingCERT) has warned that cyber-related threats could go up this election season, affecting not just political parties, but the general public and businesses as well. "During the elections held in other countries, there have been reports of increased malicious cyber activities. This could happen in Singapore, too," SingCERT said in an advisory on Sunday (Jun 28). The ongoing COVID-19 pandemic and work-from-home arrangements have also increased the opportunities for cyberthreat actors to carry out attacks, SingCERT said. "Political parties will rely more heavily on online platforms such as social media, messaging apps and websites to reach out to voters," it added. Voters could be lured into downloading malicious software ...
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How COVID-19 is reshaping the way we’ll fly
25Jul By Desk TeamNo Comments
Singapore, World

How COVID-19 is reshaping the way we’ll fly

From mandatory swab tests to empty middle seats to limited inflight meals, flying could look very different when air travel rebounds. The programme Insight finds out more. SINGAPORE: Airlines round the world are expected to face a long and painful road to recovery. Border closures and curbs on air travel due to the COVID-19 pandemic, coupled with lingering concerns over travelling in crowded and confined spaces, will make it difficult for travel demand to surge, at least in the near future. So what can airlines do to ensure their continued survival beyond tapping government support, accessing credit facilities and even considering mergers? Experts believe the answer lies in airlines restoring public confidence by making the travel experience as safe as possible. This means, howeve...
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