Singapore firms eye under-tapped India and Middle East markets for overseas expansion

Straight Times,

SINGAPORE – As multinational corporations rush to diversify their international trade and investment exposure, Singapore companies planning to expand abroad are also increasingly looking at the burgeoning opportunities beyond Asean and China.In response, the Singapore Business Federation (SBF) and HSBC have joined hands to support local businesses’ expansion overseas in key trade corridors, especially in under-tapped markets including India and the Middle East.

The idea is that companies here should cash in on Singapore’s long history of strong trade and diplomatic ties with India and countries in the Middle East before the first-mover advantage dries.

Apart from the shifting supply chains and investment flows in response to geopolitical tensions and superpower rivalry in trade and technology, India and the Middle East represent a near-contiguous expanse of some of the world’s fastest-growing economies.

Representing about a quarter of the world’s population, India and the Middle East are also in the midst of an unprecedented drive to boost investment in urban development, transport, utilities, renewable energy, tourism, real estate, manufacturing and logistics.

Some of Singapore’s large enterprises have already moved in. But smaller companies, even if they have an attractive product to offer and have a good business plan, need help.

This was one of the salient points made during an interview with SBF chief executive officer Kok Ping Soon and HSBC Singapore CEO Wong Kee Joo.

Georgia high school shooting suspect to make first court appearance as father faces 2nd-degree murder charges

CNN,

A school year’s deadly start in a small north Georgia city has left a community “heartbroken” on Friday after a 14-year-old mass shooting suspect and his father were charged in connection with the rampage that left two students and two teachers dead this week, authorities said.

Colt Gray, a student at Apalachee High School in Winder, Georgia, is charged with four counts of felony murder after investigators say he fired an AR-style rifle on campus on Wednesday morning, killing four people, according to the Georgia Bureau of Investigation. Nine others were injured, all but two of whom were shot, the GBI said.

“A young person brought a gun into a school and committed an evil act and he took lives and he injured many other people — not only physically but mentally,” Barrow County Sheriff Jud Smith said at a news conference Thursday night.

Meanwhile, authorities have taken steps to hold the teenager’s father, Colin Gray, 54, accountable after charging him Thursday with four counts of involuntary manslaughter, two counts of second-degree murder and eight counts of cruelty to children, the GBI said.

CNN is working to determine whether Colt Gray and Colin Gray have legal representation. When reached by phone on Thursday, the Barrow County Public Defender’s Office could not confirm if they were representing Colt Gray and had no comment. CNN has made several attempts to reach Colin Gray by phone and in person at the family home.

“These charges stem from Mr. Gray knowingly allowing his son Colt to possess a weapon,” GBI Director Chris Hosey said at Thursday’s news conference.

Qualcomm has explored buying pieces of Intel chip design business

Reuters,

SAN FRANCISCO- Qualcomm (QCOM.O) has explored the possibility of acquiring portions of Intel’s (INTC.O) design business to boost the company’s product portfolio, according to two sources familiar with the matter.

The mobile chipmaker has examined acquiring different pieces of Intel, which is struggling to generate cash and looking to shed business units and sell off other assets, the people said.

Intel’s client PC design business is of significant interest to Qualcomm executives, one of the sources said, but they are looking at all of the company’s design units.

Other pieces of Intel such as the server segment would make less sense for Qualcomm to acquire, another source with knowledge of Qualcomm’s operations said. Qualcomm has not approached Intel about a potential acquisition and declined to comment on its plans, an Intel spokesperson said. Intel is deeply committed to our PC business, the spokesperson said.Qualcomm declined to comment.

The $184 billion Qualcomm, which is known for chips found in smartphones and counts Apple as a customer, has been working on plans to buy pieces of Intel for months.Qualcomm’s interest and plans have not been finalized and could change, according to the sources.

The two sources declined to be named as they were not authorized to discuss thematter publicly.Intel reported a disastrous second quarter last month, which included a 15% reduction in its staff and a pause on paying dividends. Executives are grappling with how to continue to fund the company’s manufacturing plans and generate cash.Its PC client business revenue dropped 8% to $29.3 billion last year, amid overall weakness in the PC market.

Korea to certify safety of EV battery from October

The Korea Herald,

The South Korean government said Friday it will certify the safety of electric vehicle batteries beginning October, four months ahead of the initial plan, as it rolled out various measures to prevent EV fires.

According to the government’s EV fire safety management measures, both domestic and imported auto brands will be subject to the authorities’ EV battery certification requirement. The government will disclose the information of the battery cell manufacturer, battery type and key materials for all EVs sold in the country.

The advanced safety measures came after a recent series of EV fires raised public concern, including an EV fire in an underground parking lot in Incheon that burned over 80 cars last month.

The government will also expand the EV battery checklist, which only assesses high voltage insulation, to inspect more information such as the battery cell’s voltage, battery’s temperature and charging status as well as accumulated charging or discharging records. The government plans to expand the EV battery inspection infrastructure across the country.

The government has decided to put more accountability on EV manufacturers and charging operators to bolster consumer protection against EV fire damage.

According to the plan, EV manufacturers without product liability insurance will be excluded from receiving EV subsidies starting next year. The government will push for mandatory product liability insurance. Charging operators will be required to have no-fault liability insurance to compensate for EV fire damage.

The government vowed to improve the battery management system, or BMS,to better detect fire risks. Hyundai Motor and Kia will install BMS safety features in older EVs without them and provide updates at no costs.

The government will establish battery risk standards for BMS before the end of this year to effectively address EV fires and begin a pilot project in the first half of next year to automatically notify firefighters in high-risk situations for EVs whose owners have agreed to provide BMS information to authorities.

More smart control chargers, which act as a dual safety measure with BMS by controlling charging, will be supplied to bring the total number to 71,000 units next year from this year’s 20,000 units.

The government aims to minimize damage from EV fire by installing sprinklers, which are effective in preventing the spread of fire in underground parking lots, in all new buildings. Existing buildings with sprinklers will undergo enhanced regular checkups and performance improvements, including replacing fire detectors and sprinkler heads.

From a long-term perspective, the government will work to reduce the risk of fire in EV batteries by developing additives for separator stability, battery pack extinguishing technologies and advancing solid-state battery technology.

Solid-state batteries can tolerate higher temperatures and have a higher thermal stability, which makes them a safer alternative to the widely-used lithium-ion batteries.