The sale of the 43-storey office building to Qatar Investment Authority is the largest-ever single-tower real estate deal in the Asia-Pacific region.
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Qatar sovereign wealth fund to buy Asia Square Tower 1 for record S$3.4b
Companies looking to adopt FinTech may soon have more leeway
The Monetary Authority of Singapore on Monday issued a consultation paper on proposed guidelines for a regulatory sandbox for experiments for new financial services.
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Facebook co-founder Saverin takes a shine to Singapore underdog
SINGAPORE – A decade after he got shunted aside at Facebook Inc, Mr Eduardo Saverin’s found another scrappy internet startup he’s proud to put his name behind.
The billionaire is reinventing himself as an Asian venture capitalist and thinks he’s found a…
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Hong Kong suspends live poultry trade on bird flu concerns
SHANGHAI – Hong Kong decided on Sunday to suspend trade in live poultry after a spot check at a local street market revealed the presence of H7N9 bird flu virus, China’s official Xinhua News Service reported on Monday.
The report, citing a statement from Hong Kong’s food and environmental hygiene department, said that so far the source of the virus, found in a faecal sample, has not been identified.
The report said that the Hong Kong health department had contacted three of the four people working at the market and none had bird flu symptoms.
Hong Kong will hold a special meeting on Monday to evaluate risks and determine how long the suspension will last.

Philippines' Duterte urges public to kill criminals
Manila – The Philippines’ president elect Rodrigo Duterte urged the public to join his anti-crime crackdown, offering people huge bounties for killing drug dealers.
His announcement late Saturday came as other officials began paying bounties for slain suspected criminals in an apparent attempt to ride on Duterte’s success.
Duterte won the presidential election last month, running on a platform of a ruthless anti-crime campaign.
After previously saying he would unleash the military and police on criminals, Duterte said the public could go after them as well.
“If they are there in your neighbourhood, feel free to call us, the police or do it yourself if you have the gun. You have my support,” he told his cheering followers.
“If he fights and fights to the death, you can kill him,” he said, adding: “I will give you a medal.” He stressed that drug addicts could not be rehabilitated and warned, “if you are involved in drugs, I will kill you. You son of a w****, I will really kill you.” Duterte reiterated that his anti-crime campaign would be “a bloody war,” as he offered money for slain drug lords.
“I will pay, for a drug lord: five million (pesos)(S$147,000) if he is dead. If he is alive, only 4.999 million,” he laughed.
Duterte, who takes office on June 30 and is the longtime mayor of the southern city of Davao, also offered smaller amounts for lower-ranked figures involved in the drug trade.
He did not say how a private citizen could identify suspects.
Duterte has previously been linked with vigilante “death squads” that have killed scores of people in Davao and has vowed to widen his campaign when he becomes president.
Others have followed his lead with the elected mayor of the central city of Cebu, Tomas Osmena, admitting he paid more than $3,000 to police officers for killing drug traffickers.
Duterte and other officials have previously brushed aside warnings from human rights groups about the dangers of such a policy.


Navy sailor arrested in Okinawa on suspicion of drunken driving: US forces
WASHINGTON – A US Navy sailor stationed on the southern Japanese island of Okinawa has been detained by Japanese police on suspicion of drunken driving, US forces-Japan said, in an incident likely to fuel further resentment of the heavy US military presence in the region.
The statement, seen by Reuters on Sunday, said a vehicle driven by the sailor had been involved in a “serious three-car accident with injuries” on Saturday and that US Navy officials were fully cooperating with police in Okinawa.
A US official said the person detained was a 21-year-old female sailor.
The incident comes as the US military observes a 30-day period of mourning at its bases on Okinawa, where an American civilian working at a US military base was arrested last month on suspicion of dumping the body of a 20-year-old Japanese woman.
That incident stoked anger in Japan, prompting Prime Minister Shinzo Abe to protest the killing during talks with US President Barack Obama ahead of the Group of Seven summit in central Japan.

K-pop debut albums rank high on Billboard chart
SEOUL – SOLO albums by K-pop singers Jonghyun, Tiffany and Jessica are ranking high on the Billboard World Albums Chart.
The most recent chart, which shows the results for the week of June 11, lists boy band SHINee’s Jonghyun’s first album She Is, released on May 24, at the No. 4 spot.
Reports say the position is a testament to the continued global popularity of SHINee, which debuted in 2008 under S.M. Entertainment.
Following at No. 4 is another album produced by S.M., I Just Wanna Dance, released on May 23 by Tiffany of Girls’ Generation. The album moved up from its No. 10 spot the previous week.
The first EP of former Girls’ Generation member Jessica, With Love, J, comes in at 10th place. It ranked No. 4 the previous week.
Seven-member hip-hop group Monsta X, who debuted with Starship Entertainment last year, is also going strong on the list, ranking at No. 8 with its third EP, The Clan, Part 1: Lost, which came out May 18. The album was listed at No. 5 the previous week.
The numbers are in stark contrast to the album’s local performance. On most local music charts, including Melon, Mnet and Genie, Monsta X’s album is outside the top 100.
The Billboard charts provide a weekly list of the most aired, streamed and sold songs and albums in and out of the United States.
Its World Albums chart catalogues “top-selling world music albums” ranked by sales data as compiled by Nielsen Music.
K-pop musicians Akdong Musician, BTS, Seventeen, Twice, AOA and Nam Woo Hyun were also featured on the chart last month.
Meanwhile, female Japanese metal band Babymetal has dominated the chart recently, having oscillated between first and second place throughout May. It currently ranks No. 2.

Shoppers' paradise lost? Singapore's malls suffer as locals, tourists curb spending
Singapore’s reputation as a shoppers’ paradise, which saw investors pour S$10 billion into retail developments here in the past five years, is taking a pummelling because of weakness in the local economy and a drop in spending by tourists.
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Sentosa Fire Station starts operations
Located at 37 Artillery Avenue, the fire station will provide emergency services within Sentosa as well as its immediate vicinity such as the HarbourFront and Telok Blangah areas.
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No-shows a no go for heritage trail organisers
HERITAGE trails have become more popular in recent years and the slots for these walks can be filled up pretty quickly.
Despite their growing popularity, some organisers of these events have reported a worrying trend – a rising number of no-shows.
Kwek Li Yong, founder of civic group My Community which runs three free tours a month in Queenstown, said attendance has dipped from 85 per cent in 2009 to as low as 60 per cent.
“People are defaulting on their online reservations. For some tours, we might have 80 people who sign up but just half show up,” said Mr Kwek.
A small number who drop out will use the group’s online booking system to cancel their application. However, most of the no-shows ignore the group’s reminder e-mails or reply only an hour ahead to indicate that they will not be turning up, said Mr Kwek.
Geylang Serai’s Integration and Naturalisation Champions Committee, which organises heritage trails in the estate, said its worst no-show incident was in February, when just three of 12 participants showed up for a trail covering sites such as the former Geylang Fire Station in Paya Lebar and the former Queen’s Theatre on Guillemard Road.
Committee chairman Lee Hong Ping said the trail went on despite the small turnout.
Organisers said that the bad practice of not turning up despite signing up is a waste of resources.
Mr Kwek said: “My Community’s heritage tours are the fruits of our volunteers’ labour. Each tour takes almost two years of preparation.”
He said this involves purchasing licenses for old images, title deeds and conducting oral history interviews. It also involves getting approvals from the authorities to gain access to restricted sites, as well as training guides. The civic group, a registered charity, has spent close to $60,000 on organising these free tours, which run between three and four hours.
In response to queries, a spokesman from the National Heritage Board (NHB) said that while guided trails at this year’s Singapore HeritageFest were well-subscribed with an average attendance rate of 80 per cent to 100 per cent, there were cases where participants signed up for multiple free tours that overlapped with each other.
She said this “denies others the opportunity to experience the tours”.
The spokesman of Tiong Bahru Heritage Volunteers, a group which runs 2.5 hour walks in the Tiong Bahru conservation estate for free, said that while turnout has been growing for them, they understand that free heritage tours are often the hardest hit as there is no monetary loss for dropouts.
The longer lead time between registration and the actual event might also lead to a higher dropout rate, he added.
He said: “People may have signed up at a time when their schedules were still uncertain and when things happened along the way, the first activity to give up would be the free ones.”
The NHB spokesman said as many Singapore HeritageFest’s programmes are led by community volunteers, the board “hopes that participants will exercise responsibility in turning up for the programmes they sign up for”.
My Community’s Mr Kwek added: “The onus lies on the participants to reply to our reminders to inform us that they are unable to attend the tours so that we can forward their tickets to the hundreds on the waiting list.”
melodyz@sph.com.sg

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