Cautious Budget spending necessary for long-term planning: Heng Swee Keat

SINGAPORE (Mar 4): Singapore may have accumulated huge surpluses during the current term of government, but that does not indicate an upcoming spending spree. The surpluses will also not be used to stall an impending Goods and Services Tax hike due to happen from 2021 to 2025.

On Feb 28, in rounding up parliamentary debate on the broad fiscal principles of this year’s Budget, Finance Minister Heng Swee Keat explains that the planned increase in the Goods and Services Tax is necessary, and reiterated the government stance on saving for a rainy day.

Malaysian firms face heightened cyber risks with shifting political landscape: FireEye

SINGAPORE (Aug 15): With Malaysia’s new government calling for the renegotiation of certain Belt & Road Initiative (BRI) project terms, security company FireEye is expecting heightened espionage activity against Malaysian organisations.

It was last reported in July that Malaysia had already suspended the construction of its major Belt and Road rail project while it seeks to renegotiate the terms of its US$14 billion rail deal with Chinese partners.

IPS Securex reports narrowing of 3Q losses to $0.2 mil

SINGAPORE (May 8): IPS Securex has posted a narrowing of 3Q losses to $0.2 million, which is half of its 3Q17 loss of $0.4 million a year ago due to lower expenses and a tax write-back.

Revenue for the quarter fell 4.4% to $2.3 million from $2.4 million previously due to reduced contributions from the security solutions business, offset in part by higher revenue from the maintenance and leasing business.

ST Engineering's electronics arm wins $635 mil in contracts in 1Q18

SINGAPORE (Apr 19): ST Engineering announced that its electronics arm, ST Electronics, has secured $635 million worth of contracts in 1Q18.

The contracts include solutions in mobility, satellite communications, Internet of Things (IoT), public safety and security, cybersecurity and defence.

Don’t let the printer be your network’s weakest link

Extensive digital transformation is taking place across industries. To keep up with changing workplace habits of a new next-generation workforce, companies are adopting new software and hardware as well as putting more information on the cloud. Meanwhile, the sophistication and volume of cyberattacks and data breaches is growing exponentially. So, securing network and endpoints has become an indispensable part of managing business risks.

Advancer Global launches customisable integrated smart security systems

SINGAPORE (Mar 9): Advancer Global says its 70%-owned subsidiary, AGS Integration (AGSI), will provide customisable fully-integrated smart security solutions to address rising security threats as well as the increasing challenges faced by the security industry.

AGSI is part of Advancer Global’s security arm, which also comprises KC Security & Investigation Services, KH Security Agency and Ashtree International.

These four companies are held under the group’s wholly-owned subsidiary, Advancer Global Security (AGS).

White House eyes tariff exemptions on national security grounds

WASHINGTON (Mar 8): The US may exempt countries based on national security considerations from steep tariffs on steel and aluminum imports that President Donald Trump plans to impose, White House Press Secretary Sarah Sanders said Wednesday.

“There are potential carve outs for Canada and Mexico based on national security and possibly other countries as well. That would be a case-by-case and country-by-country basis,” Sanders told reporters at the White House.

Why blockchain has far more potential than cryptocurrencies for now: Deutsche

SINGAPORE (Dec 7): Cryptocurrencies are a highly speculative and risky investment – although they do have the potential to develop into a new asset class in the future, according to Deutsche Bank Wealth Management, the wealth management unit of German lender Deutsche Bank AG.

Known cryptocurrencies include Bitcoin, Ehtereum, Ripple, Litecoin and IOTA – each with their own currency generating process, and considered scarce commodities as the amount of available currency units is limited by mathematical algorithms.

Singapore overtakes US, Russia as country to launch most cyber attacks globally: Data

SINGAPORE (Sept 22): Singapore has overtaken nations including the US, Russia and China as the country launching the most cyber attacks globally, according to Israeli data security firm Check Point Software Technologies Ltd.

The company, whose software tracks an average of eight to 10 million live cyber attacks daily, said Singapore rose to pole position after ranking in the top five attacking countries for the previous two weeks.

Six types of people most commonly linked to money laundering crimes

SINGAPORE (Sept 21): Despite having one of the strongest anti-money laundering (AML) ecosystems in the region, Singapore continues to struggle with its exposure to money laundering risks.

PricewaterhouseCooper’s 2016 Global Economic Crime Survey finds it to be the city state’s fourth most common financial crime, representing 26% of the country’s economic crimes combined.

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