Latest news with #citystate
CNA
16 hours ago
- Business
- CNA
CNA938 Rewind - Will NTT DC Reit recover from its weak SGX debut?
Singapore's NTT DC Reit, a data centre real estate investment trust, had a lacklustre market debut after riding a wave of AI interest to raise $773 million in the city-state's biggest IPO in four years. What could be weighing down on its performance? And is there really no saving grace for the SGX? Hairianto Diman chats with Kenny Loh, Wealth Advisory Director, REIT specialist and SGX Academy Trainer to find out.
South China Morning Post
a day ago
- Business
- South China Morning Post
Singapore to allocate US$856 million in kick-off of plan to boost stock market
Singapore plans to allocate about US$856 million to three asset managers, including JP Morgan Asset Management, as part of a broader effort to enhance liquidity and expand investor participation in the local stock market. The other asset managers named for the initial phase of Singapore's S$5 billion (US$3.9 billion) Equity Market Development Programme – which was first announced in February – were Avanda Investment Management and Fullerton Fund Management, according to a statement on Monday by the Monetary Authority of Singapore. The city state's central bank said it received more than 100 applications for the programme. The MAS said it would appoint additional asset managers in the fourth quarter to manage remaining funds. The central bank would also set aside S$50 million to strengthen local equity research and grow 'a more vibrant listed product ecosystem', the statement said. The details mark the first progress update in months from a government-led task force that was formed to address the local equities market's lagging performance in new listings and trading volumes compared with major regional peers. 'When we invited asset managers to put forth the proposals, we made clear to everybody that this is not just about injecting funds into Singapore's equities market,' said Chee Hong Tat, minister for national development. 'But we're really looking at also how to develop our fund-management industry.' In February, the equity market review group announced a raft of measures aimed at boosting the market. Other initiatives include requiring some family offices to deploy a portion of their assets into domestic equities and streamlining listing rules for companies seeking to go public on the stock exchange.
Bloomberg
2 days ago
- Business
- Bloomberg
Singapore to Allocate $856 Million in First Phase of Stock Plan
Singapore plans to allocate S$1.1 billion ($856 million) to three asset managers, including JP Morgan Asset Management, as part of a broader effort to enhance liquidity and expand investor participation in the local stock market. The other asset managers named for the initial phase of Singapore's S$5 billion Equity Market Development Programme — which was first announced in February — will be Avanda Investment Management and Fullerton Fund Management, according to a statement issued Monday by the Monetary Authority of Singapore, the city-state's central bank. It received more than 100 applications for the program, it said.
Yahoo
3 days ago
- Politics
- Yahoo
Singapore military helps battle cyberattack: minister
Units in Singapore's military have been called in to help combat a cyberattack against critical infrastructure, the country's defence minister said Saturday -- a hack attempt attributed to an espionage group experts have linked to China. Defence Minister Chan Chun Sing said these select units will work with the Cyber Security Agency (CSA) in a united government response to the threat, local media reported. Chan described the cyberattack as "one example of the emerging threats" that the military has to handle, the reports said. There have been no reported breaches so far. Coordinating Minister for National Security K. Shanmugam first disclosed the attack late Friday, describing it as a type of Advanced Persistent Threat (APT) that poses a serious danger to the city-state. An APT refers to a cyberattack in which an intruder establishes and maintains unauthorised access to a target, remaining undetected for a sustained period of time. "I can say that it is serious and it is ongoing. And it has been identified to be UNC3886," Shanmugam said, referring to the alleged attackers. Shanmugam, who is also home affairs minister, did not elaborate in his speech on the group's sponsors or the origin of the attack. But Google-owned cybersecurity firm Mandiant described UNC3886 as a "highly adept China-nexus cyber espionage group". APT actors typically steal sensitive information and disrupt essential services, such as healthcare, telecoms, water, transport and power, Shanmugam said. "If it succeeds, it can conduct espionage and it can cause major disruption to Singapore and Singaporeans," he added. - 'Stealthy opponents' - A successful breach of Singapore's power system, for example, could wreak havoc with the electricity supply, with knock-on effects on essential services, such as healthcare and transport. "There are also economic implications. Our banks, airports and industries would not be able to operate. Our economy can be substantially affected," Shanmugam said. Between 2021 and 2024, suspected APTs against Singapore increased more than fourfold. A cyber breach of a public healthcare cluster in 2018 accessed the medication records of about 160,000 patients, including then prime minister Lee Hsien Loong. Beijing's embassy in Singapore on Saturday expressed "strong dissatisfaction" with media reports linking UNC3886 to China. In a statement, the embassy said it "firmly opposes any unwarranted smearing of China" and that "in fact, China is one of the main victims of cyberattacks". The statement added: "China firmly opposes and cracks down on all forms of cyberattacks in accordance with the law. China does not encourage, support, or condone hacking activities." Asked by reporters Saturday about the link between UNC3886 and China, The Straits Times newspaper quoted Shanmugam as saying: "As far as the Singapore government is concerned, we can say we are confident that it is this particular organisation. Who they are linked to, and how they operate, is not something I want to go into." Information Minister Josephine Teo said in a Facebook post Saturday that the alleged attacker was publicly named because it was "important for Singaporeans to know where the attack is coming from and what the potential consequences will be". The attack on Singapore's critical infrastructure "highlights the extraordinary challenges posed by APT actors," said Satnam Narang, senior staff research engineer at US-based cybersecurity firm Tenable. "Combating such stealthy opponents is becoming increasingly demanding as the scale and complexity of IT infrastructure that organisations and nations must defend continues to grow," he said. mba/sst
France 24
3 days ago
- Politics
- France 24
Singapore military helps battle cyberattack: minister
Defence Minister Chan Chun Sing said these select units will work with the Cyber Security Agency (CSA) in a united government response to the threat, local media reported. Chan described the cyberattack as "one example of the emerging threats" that the military has to handle, the reports said. There have been no reported breaches so far. Coordinating Minister for National Security K. Shanmugam first disclosed the attack late Friday, describing it as a type of Advanced Persistent Threat (APT) that poses a serious danger to the city-state. An APT refers to a cyberattack in which an intruder establishes and maintains unauthorised access to a target, remaining undetected for a sustained period of time. "I can say that it is serious and it is ongoing. And it has been identified to be UNC3886," Shanmugam said, referring to the alleged attackers. Shanmugam, who is also home affairs minister, did not elaborate in his speech on the group's sponsors or the origin of the attack. But Google-owned cybersecurity firm Mandiant described UNC3886 as a "highly adept China-nexus cyber espionage group". APT actors typically steal sensitive information and disrupt essential services, such as healthcare, telecoms, water, transport and power, Shanmugam said. "If it succeeds, it can conduct espionage and it can cause major disruption to Singapore and Singaporeans," he added. 'Stealthy opponents' A successful breach of Singapore's power system, for example, could wreak havoc with the electricity supply, with knock-on effects on essential services, such as healthcare and transport. "There are also economic implications. Our banks, airports and industries would not be able to operate. Our economy can be substantially affected," Shanmugam said. Between 2021 and 2024, suspected APTs against Singapore increased more than fourfold. A cyber breach of a public healthcare cluster in 2018 accessed the medication records of about 160,000 patients, including then prime minister Lee Hsien Loong. Beijing's embassy in Singapore on Saturday expressed "strong dissatisfaction" with media reports linking UNC3886 to China. In a statement, the embassy said it "firmly opposes any unwarranted smearing of China" and that "in fact, China is one of the main victims of cyberattacks". The statement added: "China firmly opposes and cracks down on all forms of cyberattacks in accordance with the law. China does not encourage, support, or condone hacking activities." Asked by reporters Saturday about the link between UNC3886 and China, The Straits Times newspaper quoted Shanmugam as saying: "As far as the Singapore government is concerned, we can say we are confident that it is this particular organisation. Who they are linked to, and how they operate, is not something I want to go into." Information Minister Josephine Teo said in a Facebook post Saturday that the alleged attacker was publicly named because it was "important for Singaporeans to know where the attack is coming from and what the potential consequences will be". The attack on Singapore's critical infrastructure "highlights the extraordinary challenges posed by APT actors," said Satnam Narang, senior staff research engineer at US-based cybersecurity firm Tenable. "Combating such stealthy opponents is becoming increasingly demanding as the scale and complexity of IT infrastructure that organisations and nations must defend continues to grow," he said.
