Hong Kong protests haven’t hurt our profitability, say bank CEOs

Pro-democracy protests have hurt the Hong Kong economy, but the chief executives of two major banks said their businesses in the city have not been affected in a big way. Singaporean bank DBS said on Monday that net profit for its Hong Kong business jumped 14% year-on-year in the July-to-September quarter. Hong Kong contributed around 334 million Singapore dollars, or 20%, of DBS’ overall profits in the third quarter this year. Piyush Gupta, CEO of DBS, told CNBC’s Tanvir Gill that he doesn’t an


Pro-democracy protests have hurt the Hong Kong economy, but the chief executives of two major banks said their businesses in the city have not been affected in a big way.
Singaporean bank DBS said on Monday that net profit for its Hong Kong business jumped 14% year-on-year in the July-to-September quarter.
Hong Kong contributed around 334 million Singapore dollars, or 20%, of DBS’ overall profits in the third quarter this year.
Piyush Gupta, CEO of DBS, told CNBC’s Tanvir Gill that he doesn’t an
Hong Kong protests haven’t hurt our profitability, say bank CEOs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: yen nee lee
Keywords: news, cnbc, companies, hurt, havent, portfolio, bank, dbs, singapore, problem, hong, serious, profitability, quarter, yearonyear, profit, kong, protests, ceos, say


Hong Kong protests haven't hurt our profitability, say bank CEOs

Pro-democracy protests have hurt the Hong Kong economy, but the chief executives of two major banks said their businesses in the city have not been affected in a big way.

Singaporean bank DBS said on Monday that net profit for its Hong Kong business jumped 14% year-on-year in the July-to-September quarter. That performance came on the back of a 15% year-on-year rise in overall profit for the quarter to 1.63 billion Singapore dollars ($1.2 billion), which beat analyst estimates compiled by Refinitiv.

Hong Kong contributed around 334 million Singapore dollars, or 20%, of DBS’ overall profits in the third quarter this year.

Piyush Gupta, CEO of DBS, told CNBC’s Tanvir Gill that he doesn’t anticipate a “serious problem” with the bank’s loan book in Hong Kong. But the bank has set aside some money as a precaution for any losses in its Hong Kong business, he added.

“The underlying portfolio, we’re not seeing any stress: Delinquencies are not picking up, payment rates are on track and the portfolio is extremely well secured,” he said at the Singapore FinTech Festival.

“So I don’t really anticipate (a) serious problem with the credit portfolio in the coming year, it’s just to be abundantly cautious we kept some money aside just in case,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: yen nee lee
Keywords: news, cnbc, companies, hurt, havent, portfolio, bank, dbs, singapore, problem, hong, serious, profitability, quarter, yearonyear, profit, kong, protests, ceos, say


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Hong Kong markets tumble to close 2.6% lower as tensions soar

Asia Pacific markets saw losses throughout the region by Monday afternoon, as shares in Hong Kong tumbled amid worsening tensions in the city. In Hong Kong, the Hang Seng index was deep in negative territory, declining 2.62% by the close as political turmoil in the city worsened. Sectors across the board in the Hang Seng index tumbled, including property developers, tech, financial, as well as gaming stocks. On the earnings front, Singapore’s DBS Bank reported a stronger-than-expected rise in it


Asia Pacific markets saw losses throughout the region by Monday afternoon, as shares in Hong Kong tumbled amid worsening tensions in the city.
In Hong Kong, the Hang Seng index was deep in negative territory, declining 2.62% by the close as political turmoil in the city worsened.
Sectors across the board in the Hang Seng index tumbled, including property developers, tech, financial, as well as gaming stocks.
On the earnings front, Singapore’s DBS Bank reported a stronger-than-expected rise in it
Hong Kong markets tumble to close 2.6% lower as tensions soar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, markets, shares, tumbled, index, seng, lower, shenzhen, singapore, region, hong, tensions, close, thirdquarter, soar, kong, billion, tumble


Hong Kong markets tumble to close 2.6% lower as tensions soar

Asia Pacific markets saw losses throughout the region by Monday afternoon, as shares in Hong Kong tumbled amid worsening tensions in the city.

Chinese mainland markets chalked up losses by the close: The Shanghai composite was down 1.83% to 2,909.07 and the Shenzhen composite declined 2.26% to 1,611.44. The Shenzhen component index lost 2.17% to 9,680.57.

In Hong Kong, the Hang Seng index was deep in negative territory, declining 2.62% by the close as political turmoil in the city worsened. At least two protesters were said to be injured when local police opened fire on Monday at mass demonstrations. Over the weekend, three pro-democracy lawmakers were arrested.

Sectors across the board in the Hang Seng index tumbled, including property developers, tech, financial, as well as gaming stocks.

Japan’s Nikkei 225 reversed early gains to trade down 0.26% to close at 23,331.84 while the Topix index edged down to 1,704.03.

South Korea’s Kospi fell 0.61% to close at 2,124.09 as major chipmaker SK Hynix slid 1.22%.

In Australia, the benchmark ASX 200 defied the general downward trend in the region and rose 0.72% to 6,772.50.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.17%.

On the earnings front, Singapore’s DBS Bank reported a stronger-than-expected rise in its third-quarter net profit, which jumped 15% year-on-year to 1.63 billion Singapore dollars ($1.19 billion). Its third-quarter net interest income was up 8% to $2.46 billion Singapore dollars.

DBS shares in Singapore were down 0.34%.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, markets, shares, tumbled, index, seng, lower, shenzhen, singapore, region, hong, tensions, close, thirdquarter, soar, kong, billion, tumble


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Singapore’s OCBC quarterly profit falls, but wealth management fees grow

Oversea-Chinese Banking Corp Ltd, Singapore’s second-biggest listed bank, said quarterly profit fell 6%, hurt by a one-off charge for its Indonesian unit that overshadowed growth for its wealth management and lending businesses. We shall remain vigilant and will maintain prudent risk management practices while exercising disciplined cost management.” Net wealth management fees rose 11% year on year, while OCBC’s net interest income grew 6% to S$1.60 billion and net interest margin rose 5 basis p


Oversea-Chinese Banking Corp Ltd, Singapore’s second-biggest listed bank, said quarterly profit fell 6%, hurt by a one-off charge for its Indonesian unit that overshadowed growth for its wealth management and lending businesses.
We shall remain vigilant and will maintain prudent risk management practices while exercising disciplined cost management.”
Net wealth management fees rose 11% year on year, while OCBC’s net interest income grew 6% to S$1.60 billion and net interest margin rose 5 basis p
Singapore’s OCBC quarterly profit falls, but wealth management fees grow Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-05
Keywords: news, cnbc, companies, management, growth, quarter, grow, falls, net, singapore, billion, quarterly, singapores, interest, ocbc, profit, bank, fees, wealth


Singapore's OCBC quarterly profit falls, but wealth management fees grow

Oversea-Chinese Banking Corp Ltd, Singapore’s second-biggest listed bank, said quarterly profit fell 6%, hurt by a one-off charge for its Indonesian unit that overshadowed growth for its wealth management and lending businesses.

In particular, higher wealth management fees helped offset a challenging environment as Singapore narrowly dodged a recession in the third quarter due to the trade war between the United States and China — two of the city-state’s biggest export markets.

“Our performance for this quarter underscored the competitive strength of our diversified business franchise,” CEO Samuel Tsien said in a statement.

“Global and regional economic growth continued to slow, and geo-political event risks have increased. We shall remain vigilant and will maintain prudent risk management practices while exercising disciplined cost management.”

Net profit came in at S$1.17 billion ($861 million) for the July-September quarter, the lowest level in three quarters but in line with a S$1.19 billion average estimate of five analysts, according to data from Refinitiv.

Excluding the one-off charge at its Indonesian unit which was related to changes in expected credit loss modelling, OCBC’s core net profit was S$1.26 billion, slightly higher than the S$1.25 billion booked a year earlier.

Net wealth management fees rose 11% year on year, while OCBC’s net interest income grew 6% to S$1.60 billion and net interest margin rose 5 basis points to 1.77%.

After clocking robust growth rates in recent years, Singapore’s banks face a challenging outlook as interest rates soften and loan growth moderates. Its central bank eased monetary policy for the first time in three years last month.

The sector is also facing its biggest shake-up in two decades after the central bank in August kicked off the application process for new digital banking licenses. Ride-hailing firm Grab and Singapore Telecommunications have expressed interest in applying for the licences, sources have said.

OCBC shares were down 0.7% in Tuesday morning trade, underperforming a broader market that was up 0.2% ($1 = 1.3588 Singapore dollars).


Company: cnbc, Activity: cnbc, Date: 2019-11-05
Keywords: news, cnbc, companies, management, growth, quarter, grow, falls, net, singapore, billion, quarterly, singapores, interest, ocbc, profit, bank, fees, wealth


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Foreign money into Singapore has been up ‘quite sharply’ in recent months, JP Morgan says

J.P. Morgan says foreign exchange deposits into Singapore’s banks have ramped up “quite sharply” in recent months. It comes amid growing unrest in Hong Kong which has reportedly driven investors and companies to move their money elsewhere. Singapore has been said to be a direct beneficiary of the unrest in Hong Kong, with some bankers and wealth managers saying they have received more queries from clients to move funds to Singapore. Months of protests in Hong Kong are showing no signs of a let-u


J.P. Morgan says foreign exchange deposits into Singapore’s banks have ramped up “quite sharply” in recent months.
It comes amid growing unrest in Hong Kong which has reportedly driven investors and companies to move their money elsewhere.
Singapore has been said to be a direct beneficiary of the unrest in Hong Kong, with some bankers and wealth managers saying they have received more queries from clients to move funds to Singapore.
Months of protests in Hong Kong are showing no signs of a let-u
Foreign money into Singapore has been up ‘quite sharply’ in recent months, JP Morgan says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: weizhen tan
Keywords: news, cnbc, companies, sharply, foreign, seen, hong, deposits, territory, kong, money, quite, months, unrest, wider, morgan, recent, singapore, wealth


Foreign money into Singapore has been up 'quite sharply' in recent months, JP Morgan says

J.P. Morgan says foreign exchange deposits into Singapore’s banks have ramped up “quite sharply” in recent months.

It comes amid growing unrest in Hong Kong which has reportedly driven investors and companies to move their money elsewhere.

Singapore has been said to be a direct beneficiary of the unrest in Hong Kong, with some bankers and wealth managers saying they have received more queries from clients to move funds to Singapore.

In the latest estimate, Goldman Sachs said in October that Hong Kong might have lost as much as $4 billion in deposits to Singapore, often seen as its rival for the role of Asia’s premier financial hub.

Months of protests in Hong Kong are showing no signs of a let-up. What started out as peaceful demonstrations over a now-withdrawn extradition bill have morphed into a wider call for democracy.

“We can’t be conclusive that there is a shift from Hong Kong to Singapore,” J.P. Morgan’s Harsh Modi, co-head of Asia ex-Japan for financials research, said Friday when asked if he’s seen deposits flow from the Chinese-ruled territory to Singapore.


Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: weizhen tan
Keywords: news, cnbc, companies, sharply, foreign, seen, hong, deposits, territory, kong, money, quite, months, unrest, wider, morgan, recent, singapore, wealth


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Singapore is ready for IMO 2020: International Chamber of Shipping

Singapore is ready for IMO 2020: International Chamber of ShippingGuy Platten of the International Chamber of Shipping says he’s confident there will be sufficient supply of IMO-compliant fuel in 2020. He also weighs in on the impact of Brexit and U.S.-China relations on shipping.


Singapore is ready for IMO 2020: International Chamber of ShippingGuy Platten of the International Chamber of Shipping says he’s confident there will be sufficient supply of IMO-compliant fuel in 2020.
He also weighs in on the impact of Brexit and U.S.-China relations on shipping.
Singapore is ready for IMO 2020: International Chamber of Shipping Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-31
Keywords: news, cnbc, companies, singapore, uschina, sufficient, ready, shippingguy, weighs, chamber, imo, shipping, 2020, international, supply


Singapore is ready for IMO 2020: International Chamber of Shipping

Singapore is ready for IMO 2020: International Chamber of Shipping

Guy Platten of the International Chamber of Shipping says he’s confident there will be sufficient supply of IMO-compliant fuel in 2020. He also weighs in on the impact of Brexit and U.S.-China relations on shipping.


Company: cnbc, Activity: cnbc, Date: 2019-10-31
Keywords: news, cnbc, companies, singapore, uschina, sufficient, ready, shippingguy, weighs, chamber, imo, shipping, 2020, international, supply


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Malaysia is targeting a higher level of renewables in its energy mix by 2025, says its environment minister

Southeast Asian country Malaysia is looking to use a higher percentage of renewables in its energy mix in the next five years, its environment minister said on Tuesday. Yeo Bee Yin, who is Malaysia’s minister for energy, science, technology, environment and climate change, said the country is targeting to generate 20% of its electricity from renewable energy sources by 2025 — up from 2% currently. Playing down the possibility of a carbon tax, Yeo suggested that solar energy is a viable option fo


Southeast Asian country Malaysia is looking to use a higher percentage of renewables in its energy mix in the next five years, its environment minister said on Tuesday.
Yeo Bee Yin, who is Malaysia’s minister for energy, science, technology, environment and climate change, said the country is targeting to generate 20% of its electricity from renewable energy sources by 2025 — up from 2% currently.
Playing down the possibility of a carbon tax, Yeo suggested that solar energy is a viable option fo
Malaysia is targeting a higher level of renewables in its energy mix by 2025, says its environment minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-30  Authors: huileng tan
Keywords: news, cnbc, companies, level, country, energy, higher, renewables, minister, malaysia, singapore, 2025, environment, mix, solution, targeting, renewable, solar, told


Malaysia is targeting a higher level of renewables in its energy mix by 2025, says its environment minister

Southeast Asian country Malaysia is looking to use a higher percentage of renewables in its energy mix in the next five years, its environment minister said on Tuesday.

Yeo Bee Yin, who is Malaysia’s minister for energy, science, technology, environment and climate change, said the country is targeting to generate 20% of its electricity from renewable energy sources by 2025 — up from 2% currently.

Playing down the possibility of a carbon tax, Yeo suggested that solar energy is a viable option for Malaysia, a tropical country.

“We are a developing country. We want to look into what will be the best solution, as in the best economical solution for us first before looking into taxing … people (more). For example, energy efficiency. Energy efficiency saves your electricity bill as well as decarbonizing. Can we incentivize that?”

For instance, “solar is getting cheaper; can we make it cheaper so that people go into it?” she told CNBC at Singapore International Energy Week.

As the cost of renewables becomes more competitive with fossil fuels, interest in cleaner energy solutions grows.

Neighboring Singapore said on Monday it plans to speed up the use of renewable energy, particularly in solar, the country’s trade and industry minister told CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-10-30  Authors: huileng tan
Keywords: news, cnbc, companies, level, country, energy, higher, renewables, minister, malaysia, singapore, 2025, environment, mix, solution, targeting, renewable, solar, told


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Singapore’s not going into a recession ‘at this point,’ trade minister says

Gantry cranes stand at the Port of Singapore in Singapore, on Friday, July 12, 2019. Singapore won’t be entering a recession for now and despite the risk of a more fragmented world and trade disruptions, the country remains “quietly confident,” its minister for trade and industry Chan Chun Sing said Tuesday. Asked if Singapore can avoid a recession, Chan said: “At this point in time, I don’t think we are looking at a recession.” But yet at the same time, we are quietly confident,” he told CNBC a


Gantry cranes stand at the Port of Singapore in Singapore, on Friday, July 12, 2019.
Singapore won’t be entering a recession for now and despite the risk of a more fragmented world and trade disruptions, the country remains “quietly confident,” its minister for trade and industry Chan Chun Sing said Tuesday.
Asked if Singapore can avoid a recession, Chan said: “At this point in time, I don’t think we are looking at a recession.”
But yet at the same time, we are quietly confident,” he told CNBC a
Singapore’s not going into a recession ‘at this point,’ trade minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-29  Authors: weizhen tan
Keywords: news, cnbc, companies, singapore, economy, going, world, recession, quietly, global, confident, chan, quarter, trade, minister, singapores, point


Singapore's not going into a recession 'at this point,' trade minister says

Gantry cranes stand at the Port of Singapore in Singapore, on Friday, July 12, 2019.

Singapore won’t be entering a recession for now and despite the risk of a more fragmented world and trade disruptions, the country remains “quietly confident,” its minister for trade and industry Chan Chun Sing said Tuesday.

Singapore’s economy — often seen as a bellwether for global growth — avoided a technical recession after growing by 0.6% in the third quarter, compared to the previous three months. On a year-on-year basis, Singapore’s economy grew 0.1% in the third quarter, below analyst expectations.

Asked if Singapore can avoid a recession, Chan said: “At this point in time, I don’t think we are looking at a recession.”

“But we are of course cognizant of the larger forces moving in the world. But yet at the same time, we are quietly confident,” he told CNBC at the Singapore International Energy Week conference on Tuesday.

The Southeast Asian nation has one of the highest trade-to-GDP ratios in the world. That makes its economy highly sensitive to global trade flows and business cycles.


Company: cnbc, Activity: cnbc, Date: 2019-10-29  Authors: weizhen tan
Keywords: news, cnbc, companies, singapore, economy, going, world, recession, quietly, global, confident, chan, quarter, trade, minister, singapores, point


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Singapore Raffles Hotel opens after two-year restoration

After shutting its doors for more than two years, Raffles Singapore officially reopened this month. Raffles Singapore. The Grand Lobby at Raffles Singapore. A Studio Suite at Raffles Singapore. Cucumber with Oscietra caviar from Raffles Singapore.


After shutting its doors for more than two years, Raffles Singapore officially reopened this month.
Raffles Singapore.
The Grand Lobby at Raffles Singapore.
A Studio Suite at Raffles Singapore.
Cucumber with Oscietra caviar from Raffles Singapore.
Singapore Raffles Hotel opens after two-year restoration Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-28  Authors: monica buchanan pitrelli, vicky mckeever
Keywords: news, cnbc, companies, singapore, pic, westbeld, opens, suites, twoyear, lobby, suite, hotel, courtesy, tablets, raffles, restoration


Singapore Raffles Hotel opens after two-year restoration

After shutting its doors for more than two years, Raffles Singapore officially reopened this month. Built in 1887 as a 10-room hotel, the property has undergone just two restorations in its 132-year history — a rarity in a city where change is near constant. Synonymous with old world grandeur and colonial tradition, the return of the city-state’s oldest and most iconic hotel has been the talk of the town — and the travel circuit. But is it worth all the hype? Here are five reasons why it may be:

1. All the touches that made Raffles special, still exist

Purists will delight that the hotel’s façade — and the gravel driveway that once welcomed horse-drawn carriages — remain largely the same. Under the watchful wisdom of designer Alexandra Champalimaud, the interior redesign stays true to the property’s illustrious past. Resident historian Leslie Danker gave his first tour 47 years ago, and he’s still part of the team.

Raffles Singapore. Courtesy of Raffles Singapore

Afternoon tea has always been a serious affair at the hotel; it’s now served in the Grand Lobby (and typically booked one month ahead). And, you can still sip a cherry liqueur-laced Singapore Sling while tossing peanut shells over your shoulder at the Long Bar, perhaps the only spot where it’s proper to be a bit uncouth.

The Grand Lobby at Raffles Singapore. Courtesy of Raffles Singapore

Revamped suites, new marble floors and a massive Prague-made chandelier with exactly 8,142 crystals help justify the new rates, which start around 1,300 Singapore dollars ($800) per night.

2. History blends with high tech

Imagine setting mood lighting, adjusting the temperature, closing the curtains, selecting a buckwheat pillow, choosing a movie on Amazon Prime, booking a massage and ordering a glass of Champagne — all from the comfort of your bed. Tablets now control every room within suites and allow communication with suite butlers.

Tablets come standard in every suite at Raffles Singapore. CNBC

But it’s not just tech for tech’s sake; the tablets were purposefully designed to be simple to use. Calling the tablets “very user-friendly,” Raffles Singapore’s General Manager Christian Westbeld says initial feedback from guests is that they are “a wonderful addition” to the hotel’s offerings.

3. It’s bigger and better

The revamped Raffles offers 115 suites (up from 103) in nine categories, from the 495-square-foot Studio Suites to the sprawling 2,800-square-foot Presidential Suites, the latter with living and dining rooms, antiques and private verandas. In fact, every suite has a veranda — where else could one cool off in 19th century Singapore heat?

A Studio Suite at Raffles Singapore. Courtesy of Raffles Singapore

Personality Suites are new and named after famous former guests – from John Wayne and Rudyard Kipling to Elizabeth Taylor, the latter of whom visited with Michael Jackson in tow.

One of two Presidential Suites at Raffles Singapore. Courtesy of Raffles Singapore

With the addition of 24-hour-a-day butler assistance, check-ins are performed within suite. “We don’t even have a front desk in the hotel lobby anymore,” says Westbeld, adding that services such as checking in and out, and concierge inquiries about Singapore art, cultural and historical events are all handled directly by suite butlers.

4. Big names are on the menu

The most visible change to the hotel’s restaurant scene are the collaborations with internationally renowned chefs. The Bar & Billiard Room has been reborn as BBR by Alain Ducasse. It’s the celebrity chef’s first Mediterranean sharing and grill concept and the new home to Raffles popular Sunday Champagne Brunch.

A look inside La Dame de Pic at Raffles Singapore. Courtesy of Raffles Singapore

With seven Michelin stars to her name, Anne-Sophie Pic makes her Asian fine dining debut with La Dame de Pic. Rounding out the mix is “yì by Jereme Leung,” a restaurant that namechecks the Singaporean master of modern Chinese.

Cucumber with Oscietra caviar from Raffles Singapore. Courtesy of Raffles Singapore

5. It’s pure emotional luxury

Online ratings surely matter, but with properties as historically rich as this, the best attributes often can’t be understood until they are experienced in person. Christian says staying at Raffles allows guests to feel that time is ticking in a “different way.” A stay “allows you to actually look at your inner self and think about the world with a different viewpoint. It points out to you what is really important in life,” says Westbeld. “And that’s something that makes this building extremely special.”


Company: cnbc, Activity: cnbc, Date: 2019-10-28  Authors: monica buchanan pitrelli, vicky mckeever
Keywords: news, cnbc, companies, singapore, pic, westbeld, opens, suites, twoyear, lobby, suite, hotel, courtesy, tablets, raffles, restoration


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A 3-Step guide to mastering Singapore ‘street food’

Singapore may be referred to as Asia 101, but it’s common to arrive at this culinary paradise and get schooled by the local food scene. Unlike other Asian cities, Singapore’s “street food” is no longer found on the streets. Food Republic, Kopitiam, Koufu and Food Junction are some of the food court operators with multiple outlets in Singapore. A plate of Chinese noodles with pork char siew and wontons sold in local food centre of Singapore. Tiong Bahru Food Centre — For a touch of sweet, there’s


Singapore may be referred to as Asia 101, but it’s common to arrive at this culinary paradise and get schooled by the local food scene.
Unlike other Asian cities, Singapore’s “street food” is no longer found on the streets.
Food Republic, Kopitiam, Koufu and Food Junction are some of the food court operators with multiple outlets in Singapore.
A plate of Chinese noodles with pork char siew and wontons sold in local food centre of Singapore.
Tiong Bahru Food Centre — For a touch of sweet, there’s
A 3-Step guide to mastering Singapore ‘street food’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-28  Authors: nicole frank
Keywords: news, cnbc, companies, singapore, local, fried, centre, chicken, food, rice, guide, getty, 3step, street, mastering, dish


A 3-Step guide to mastering Singapore 'street food'

Singapore may be referred to as Asia 101, but it’s common to arrive at this culinary paradise and get schooled by the local food scene. Unlike other Asian cities, Singapore’s “street food” is no longer found on the streets. Starting in the late 1960s, the government moved to formally resettle street vendors into organized centers with seating and strict sanitation requirements. But where to start? Here is a guide to satisfy the most apprehensive to the most adventurous of palates.

Step 1: Food courts

Food courts are located in malls, office buildings and shopping centers around the island. They are clean and air-conditioned, and for many visitors, they’re the easiest way to sample local cuisine. Food Republic, Kopitiam, Koufu and Food Junction are some of the food court operators with multiple outlets in Singapore. To get started, consider: Fitra Hainanese Chicken Rice at Wisma Atria — As the name implies, Fitra (which is halal) serves up Hainanese chicken rice, the unofficial dish of the city-state. A generous helping of rice is cooked with chicken stock, garlic, ginger and pandan leaves and then served with either poached or roasted chicken. Small dishes of dark soya sauce, chili and garlic accompany the dish, with cucumber spears on the side.

Hainanese chicken rice in Singapore. Nuttapol Puntavachirapan | Moment | Getty Images

HK Roast, Food Republic at Manulife Centre — Char siew wonton noodles are a savory dish of noodles, green vegetables (often cai-xin), roasted pork and boiled wontons filled with pork. It comes dry or in a soup — state your preference when you order.

A plate of Chinese noodles with pork char siew and wontons sold in local food centre of Singapore. Calvin Chan Wai Meng | Moment | Getty Images

Indian Express, Rasapura Masters at The Shoppes at Marina Bay — This spot is popular for naan (Indian flat bread cooked in a tandoor). Choose it plain or with butter, garlic or cheese, tear into small bites and dunk it into a dish of butter chicken.

Step 2: Hawker centers

Hawker centers are open-air food markets, usually with covered seating. Certain hawker centers, due to their location or reputation, are popular with tourists, including: Lau Pa Sat — Every night at 7:00 p.m., a street adjacent to this center is closed to cars and filled with tables and stools so customers can eat under the night sky in the Central Business District. These evenings are famous for satay (stall Nos. 7 and 8), which are small sticks of barbecued lamb, chicken or beef dipped in peanut sauce.

A grill and skewer expert at work at Lau Pa Sat hawker center’s famous Satay Street in Singapore. Aaron Massarano | iStock | Getty Images

Newton Food Centre — Arguably the most popular center of all (even before it was featured in “Crazy Rich Asians”), this spot is famous for many dishes, including the carrot cake at Heng (stall No. 01-28), a 2018 Bib Gourmand Winner. Not to be confused with the Western dessert, this is a savory dish of steamed white radish and rice flour fried with egg, preserved radish and spices. Order it white (plain) or black (fried with dark soy sauce) and with or without chili.

Chai tow kway, or carrot cake, from a hawker centre in Singapore. GolePhotography | iStock | Getty Images

Glutton’s Bay, Esplanade — For a local twist on a classic bar food, try the prawn paste chicken at Hong Kong Street Old Chun Kee stall. This dish of chicken wings fried with spices and fermented prawn paste is great to share with friends or wash back with a Tiger beer. This hawker center overlooks Marina Bay and has convenient public transportation options nearby. If you’re lucky, there may be a free outdoor concert courtesy of the Esplanade too.

Step 3: Hidden gems

If you’ve mastered (or have no interest in) the touristy spots and are looking to go local, there is: Adam Road Food Centre —Selera Rasa Nasi Lemak serves nasi lemak, a Malay breakfast favorite. The rice, cooked with coconut and pandan, is served with small, fried ikan bilis (anchovies), peanuts, a fried egg, sambal chili and cucumber slices. You can add on fried chicken, otak (fish paste and spices grilled in a banana leaf), fish cake or fried fish, depending on your taste.

BBQ stingray with spring onions and red chillies paste. tang90246 | iStock | Getty Images

Chomp Chomp Food Centre — This center in Serangoon Gardens is best visited in the off-hours, as it’s uber popular with locals. Hai Wei Yuan B.B.Q. (stall No. 1), has excellent stingray, which is slathered in sambal chili and barbecued in a banana leaf. Tiong Bahru Food Centre — For a touch of sweet, there’s Tian Tian Yuan Dessert House. Ice desserts are cool and refreshing, and you’ll find over 50 options here with a variety of toppings like flavored syrups, colored jellies, creamed corn and condensed milk.

Ice kachang, a shaved ice dessert. Studio Paggy | IZA Stock | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-10-28  Authors: nicole frank
Keywords: news, cnbc, companies, singapore, local, fried, centre, chicken, food, rice, guide, getty, 3step, street, mastering, dish


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Bank of Singapore: Buy the dips in the pound sterling

Bank of Singapore: Buy the dips in the pound sterling4 Hours AgoSim Moh Siong of Bank of Singapore says there’s potential for the British pound to strengthen in the medium term. He says the U.K. will reach an agreement on Brexit eventually, and that could cause sterling to rally to 1.35 against the U.S. dollar.


Bank of Singapore: Buy the dips in the pound sterling4 Hours AgoSim Moh Siong of Bank of Singapore says there’s potential for the British pound to strengthen in the medium term.
He says the U.K. will reach an agreement on Brexit eventually, and that could cause sterling to rally to 1.35 against the U.S. dollar.
Bank of Singapore: Buy the dips in the pound sterling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-23
Keywords: news, cnbc, companies, strengthen, theres, sterling4, singapore, dips, sterling, buy, pound, bank, siong, term


Bank of Singapore: Buy the dips in the pound sterling

Bank of Singapore: Buy the dips in the pound sterling

4 Hours Ago

Sim Moh Siong of Bank of Singapore says there’s potential for the British pound to strengthen in the medium term. He says the U.K. will reach an agreement on Brexit eventually, and that could cause sterling to rally to 1.35 against the U.S. dollar.


Company: cnbc, Activity: cnbc, Date: 2019-10-23
Keywords: news, cnbc, companies, strengthen, theres, sterling4, singapore, dips, sterling, buy, pound, bank, siong, term


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