Daily Debrief: What Happened Today (Aug 4)
Singapore sets up Economic Strategy Review under tariff taskforce to take 'fresh look' at longer-term strategies: DPM Gan
[SINGAPORE] The Republic is carrying out an Economic Strategy Review (ESR) to look at its longer-term strategies given the significant challenges brought by a new regime of US tariffs as well as the fraying multilateral trading system.
Prosecution accepts judicial mercy for cancer-stricken Ong Beng Seng; sentencing set for Aug 15
[SINGAPORE] There is a basis for the Singapore courts to consider judicial mercy in sentencing property tycoon Ong Beng Seng for his involvement in a case linked to former transport minister S Iswaran, prosecutors said on Monday (Aug 4).
Malaysia pledges over US$240 billion in US deals to avert trade fallout and to lower tariffs
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[KUALA LUMPUR] In a bid to secure a lower tariff rate, Malaysia has committed to trade agreements with the United States, with deals cumulatively valued at over US$240 billion for the purchase of items such as Boeing aircraft, coal and telecommunications equipment.
BlueSG to pause operations, revamp fleet amid complaints of vehicle, app issues
[SINGAPORE] Car-sharing operator BlueSG on Monday (Aug 4) announced that it would pause its car-sharing operations from Aug 8, while it prepares for a major upgrade to its tech platform and car fleet amid complaints of car and app issues.
Shophouse sales slow in H1 amid macro volatility; investors shift away from F&B assets
[SINGAPORE] Activity in the shophouse market was tepid in the first half of 2025, with both the number and value of recorded deals falling as investors adopted a wait-and-see approach amid growing macroeconomic uncertainty.
Is a new 400 sq ft condo home worth buying?
Springleaf Residence, which is jointly developed by GuocoLand and Hong Leong, speaks to my heart.
Singapore shares bounce back after 6-day losing streak; STI up 1%
[SINGAPORE] Stocks on the Singapore Exchange (SGX) rebounded on Monday (Aug 4), snapping a six-day losing streak, even as Asian indices closed mixed.
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Straits Times
27 minutes ago
- Straits Times
Trump says he's readying more tariffs on Russian energy buyers, including China
Sign up now: Get ST's newsletters delivered to your inbox US President Donald Trump's latest remarks came after he said he would raise levies on Indian exports within 24 hours. WASHINGTON - US President Donald Trump suggested he would impose increased tariffs on additional countries buying energy from Russia – including China – after saying earlier on Aug 5 that he would raise levies on Indian exports within 24 hours. 'We'll be doing quite a bit of that,' Mr Trump said when asked if he would follow through on a previous threat to impose tariffs on additional countries, including China. 'We'll see what happens over the next fairly short period of time.' Mr Trump also claimed that he 'never said a percentage' that he would impose on Russian trading partners. Earlier in August, Mr Trump told reporters he planned to do 'very severe tariffs if we don't have a deal in 50 days, tariffs at about 100 per cent'. That rhetorical retreat suggests Mr Trump may not intend to follow through on the full extent his previous threats. 'We have a meeting with Russia tomorrow,' Mr Trump said. 'We're going to see what happens. We'll make that determination at that time.' US special envoy Steve Witkoff is expected to travel to Russia for meetings this week with Russian officials, ahead of Mr Trump's Aug 8 deadline for Moscow to reach a truce with Ukraine. Top stories Swipe. Select. Stay informed. Singapore More train rides taken in first half-year, but overall public transport use stays below 2019 levels Singapore BlueSG needs time to develop software, refresh fleet, say ex-insiders after winding-down news Asia Cambodia-Thailand border clash a setback for Asean: Vivian Balakrishnan Singapore 'She had a whole life ahead of her': Boyfriend mourns Yishun fatal crash victim Singapore Doctor hounded ex-girlfriend, threatened to share her intimate photos, abducted her off street Asia Trump's transactional foreign policy fuels 'US scepticism' in Taiwan Business Women on corporate boards give firms a competitive advantage, says Australian Governor-General Singapore CEO of sports car distributor accused of offences including multiple counts of false trading Ukraine's allies have said energy purchases by countries, including China and India, have helped to prop up Russian leader Vladimir Putin's economy and undercut pressure on Moscow to end a war that is now in its fourth year. In an interview with CNBC earlier on Aug 5, Mr Trump indicated he would push forward with escalated tariffs on India in particular. 'We settled on 25 per cent but I think I'm going to raise that very substantially over the next 24 hours, because they're buying Russian oil,' Mr Trump said. 'They're fuelling the war machine. And if they're going to do that, then I'm not going to be happy.' At the same time, Mr Trump said he was 'getting very close to a deal' with China to extend the trade truce that saw the two countries agree to reduce tit-for-tat tariff hikes and ease export restrictions on rare earth magnets and certain technologies. BLOOMBERG
Business Times
27 minutes ago
- Business Times
Empowering businesses to build brand equity and expand globally
SJ DIGITAL Media Solutions (SJ) began its journey with a clear vision, to empower brands and businesses to thrive in international markets. This aspiration led to the founding of the company, driven by a mission to support enterprises in their efforts to build strong brand foundations and scale globally. It stemmed from the founders' first-hand observations that many local companies struggled to expand, not due to limitations in their products or services, but because of the absence of a clear and structured internationalisation model. To bridge this gap, they developed a comprehensive framework designed to work alongside enterprises, starting with building and strengthening brand equity, followed by developing digital capabilities to enable business scalability, followed by overseas business matching and market development initiatives to open doors to new markets and deliver measurable results. 'We observed that many SMEs had strong local products or services but lacked a cohesive strategy to scale internationally. Many companies might not be aware that there is a structured approach to building a brand and expanding overseas. With this framework, we can measure success more effectively, take a calculated approach, and provide a stronger launchpad for our clients' brands to succeed globally,' says Joycefaith Ang, the company's Co-founder and Managing Director. 'From the very beginning of the process, we build every brand with a clear vision, laying the foundation for internationalisation, sustainability, and a lasting legacy.' Operating through a collaborative partnership model, SJ works closely with strategic partners across key domains including regional market development, artificial intelligence, emerging technologies, and digital infrastructure. This approach enables the firm to co-create innovative, scalable solutions that empower small- and medium-sized enterprises (SMEs) to grow beyond borders with a stronger competitive edge. Headquartered in Singapore, the firm has established a strong regional presence, supported by team members and strategic partners across key Asian markets. Leveraging this footprint, SJ delivers both deep local insights and global perspectives to its clients. Its ability to seamlessly integrate strategic planning with hands-on execution has earned recognition across diverse sectors, including education, engineering, technology, retail, and professional services. With its future-ready methodology anchored by people, process, and technology, SJ continues to serve as a key partner for SMEs looking to expand beyond Singapore and into the global marketplace. From strategy to execution Every engagement at SJ Digital Media Solutions begins with a thorough diagnostic process. Recognising that each business is unique, the team develops tailored solutions aligned with the client's industry, growth stage, and long-term vision. SJ's work with plastics manufacturer Impact Rank, for instance, saw the company repositioned as a sustainability leader after shifting to 100 per cent plant-based plastics. This opened doors to ESG-focused partners and investors. Recruit Now and Coldworld Engineering are other examples, having secured partnerships with publicly listed companies following SJ's facilitation of regional business matching with top-tier distributors and strategic partners. In the education sector, META Robotics and WhizMinds Academy have also built strong brand equity and achieved increasing market traction after working with SJ. Meanwhile, AL Tyre saw operational efficiency rise across five outlets following SJ's support for the company's digital transformation. This not only enhanced their operational capabilities but also strengthened their overall business equity. 'We recognised a critical gap. Companies needed a unified, end-to-end framework that strategically aligned brand development with cross-border business growth,' says Dane Soh, Co-founder of SJ Digital Media Solutions. Across all projects, SJ places strong emphasis not just on handover, but on continual tracking of measurable results, regular performance reviews, and iterative improvement. 'Clients today don't just need strategy, they need real execution,' Soh notes. 'We walk alongside them through every phase, ensuring that strategic planning is effectively translated into sustainable business growth.' Co-founder Dane Soh & Co-founder Joycefaith Ang. Cracking new markets with confidence Many SMEs assume that success overseas is reserved for large enterprises or those with established overseas networks. Breaking that perception, SJ has demonstrated that with a structured strategy, internationalisation is not only attainable, but also scalable and measurable through a proven strategic framework. 'From brand to business, we do everything for them. We identify critical gaps and strengthen the necessary business capabilities. When entering a new market with us, we ensure they have a clear competitive edge before launch. Our goal is to maximise their chances of success – that's the benchmark we set for every project,' says Ang. One of the firm's biggest growth areas has been the Middle East. Despite being perceived as a difficult market, SJ has helped Singapore brands establish a strong foothold there by providing market-tested strategies for positioning and cultural adaptation, as well as ongoing in-market support. Many clients who lacked confidence in international expansion now operate with long-term plans in the region. SJ's support has shown that having a clear plan works better than relying on luck or personal connections. Our trusted clients since 2016. What works behind the scenes SJ's internal operations play a crucial role in delivering consistent results. Its headquarters in Singapore sets the broader strategy, while each region is led by a regional head and a team of country leaders. A structured assembly line workflow divides responsibilities across functional teams. From brand strategy to market matching and in-market sales support, each function has a dedicated team responsible for execution. Meanwhile, real-time dashboards track project milestones and key performance indicators. This workflow model ensures seamless handovers and high accountability. SJ has also fostered a strong culture of ownership that supports the team's motivation. Performance metrics are visible and team members are evaluated based on clear benchmarks. Says Ang: 'We celebrate every successful project as a shared achievement. That reinforces a sense of purpose and progress across our expanding global team.' Future-ready growth SJ's long-term vision is to serve as the central network for cross-border business connectivity across Asia. The firm is currently working toward its '30 by 30' goal to establish a presence in 30 cities by 2030. These regional offices will serve as launchpads for Singapore brands looking to scale with confidence. 'Business expansion and sales should no longer rely on chance or fragmented networks. We seek to empower enterprises with a seamless, strategic and execution-focused model for cross-border growth,' explains Ang. In support of this ambition, SJ has also scaled its own operations. Its internationalisation model is now enhanced with AI tools, automation platforms, and proprietary market assessment methodologies. Staff also undergo ongoing training and performance benchmarking to remain sharp and market relevant. 'Our aspiration is to be recognised not just as a consultancy firm, but as the leading execution partner connecting businesses across Asia – powered by a comprehensive, end-to-end framework,' says Ang. SJ 4-Phase framework SJ's 4-Phase Framework empowers businesses to progress from brand building to international expansion – delivering measurable outcomes and real market traction at every stage. Branding & marketing Helping businesses establish distinct brand identities and marketing strategies that are tightly aligned with long-term business goals and global positioning. Business strategy development Through structured innovation and digital transformation, SJ equips clients with scalable business models and operational strategies designed for sustainable international growth and long-term legacy. Overseas business matching Ensuring that brands translate into real business outcomes, SJ Digital Media Solutions facilitates full-scope business matching with in-market partners including distributors, franchisees, and joint ventures, supported by end-to-end post-negotiation services to maximise success and unlock new revenue opportunities. Overseas business development Driving real traction beyond market entry, SJ Digital Media Solutions delivers overseas business development through full-cycle sales engagement – ensuring efforts are sustained, strategic, and results-driven.
Business Times
27 minutes ago
- Business Times
US: Stocks fall as markets monitor trade talks
[NEW YORK] Wall Street stocks retreated on Tuesday as markets monitored ongoing trade talks ahead of new tariff hikes set to take effect later this week. US stocks initially looked poised to extend Monday's rally, but soon tumbled into negative territory. 'We're struggling for direction right now,' said Adam Sarhan of 50 Park Investments. 'After a big move up over the last few weeks, it's perfectly normal and healthy to see the market consolidate or go sideways a little bit.' The Dow Jones Industrial Average finished down 0.1 per cent at 44,111.74. The broad-based S&P 500 dropped 0.5 per cent to 6,299.19, while the tech-rich Nasdaq Composite Index shed 0.7 per cent to 20,916.55. US President Donald Trump told CNBC he plans fresh tariffs on imported pharmaceuticals and semiconductors. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The statement comes before a separate set of tariff hikes goes into force on dozens of economies later this week. Swiss officials traveled to Washington on Tuesday to try to strike a last-minute deal. Sarhan said investors are adjusting to a weakening economic outlook after last week's July jobs report pointed to slowing in the labor market. On the positive side, 'a weaker economy could mean more rate cuts from the Fed,' Sarhan said. Among individual companies, Palantir Technologies jumped 7.8 per cent after reporting its first quarter with more than US$1 billion in revenue. The data analysis and artificial intelligence company also raised its full-year revenues forecast. Pfizer was another big winner after earnings as the drugmaker reported a big increase in profits to US$2.9 billion behind higher sales of Covid-19 products and lower expenses. AFP
