Singapore digest news (09.05-13.05)

Photo by Anna Smirnova

Singapore to become third float for Chinese electric car maker NIO
NIO is one of China's fastest-growing electric passenger car manufacturers, with competitors Li Auto and XPeng initially placing shares in both the US and Hong Kong, so the migration towards Singapore remains a unique move for NIO so far. China is the largest market for electric vehicles in the world and local players need new investment to develop dynamically, so finding alternative sources of funding in this environment is a natural progression.

Singapore company upgrades plant in Kazakhstan
Three projects will be launched in East Kazakhstan Oblast this year. Two production facilities will be built, one will be upgraded, LS reports.
According to the regional akimat, more than 720 people will get jobs through the opening of industrial facilities. Total investment in the three enterprises will amount to 48.3 billion tenge.
In particular, a company from Singapore is restoring and modernising a cement plant with an annual capacity of 1.2m tonnes in Zharma district. The project is estimated at KZT6.8bn. According to the information, an expertise is being carried out and the state of the technological equipment is being assessed. Subsoil use contracts are also being renegotiated. The enterprise is expected to start operating by the end of this year.

Australia and Singapore to launch clean energy megaproject together in 2024
Sun Cable intends to implement the Australia-Asia PowerLink project to transport solar energy from Australia to Singapore.
The project is expected to meet 15% of Singapore's electricity needs.
Details of the project have been disclosed in a potential environmental impact report. It was submitted to the Northern Territory industry regulator in late April 2022. In this Australian state, a giant solar power plant (SPP) will be commissioned in Newcastle Waters:
  • with a generation capacity of -17-20 GW;
  • on an area of 12 thousand hectares;
  • energy storage capacity of 36-42 GWh.
The cost of the project is around USD 30 billion.

TZ APAC and NUS Computing partner to create a strong pipeline of technology innovators
TZ APAC, Asia's leading blockchain company supporting the Tezos ecosystem, is pleased to announce its partnership with the National University of Singapore's School of Computer Science (NUS Computing) to create a Centre of Excellence in Computing.
According to the announcement, the new centre will be headed by Associate Professor Tan Sang Tek from NUS Computing. The new centre aims to give students the opportunity to learn from real industry experts in various fields such as cloud computing, blockchain and data science.
It is reported that TZ APAC and NUS Computing have teamed up to meet the growing demand in Singapore, which has become a leader in blockchain technology. Through the partnership, the two parties aim to create a strong pipeline of talent and ensure that computing talent in Singapore is well equipped to harness the potential of blockchain and other technologies.

Researchers at Nanyang Technological University in Singapore have improved 3D printing techniques
They suggested using recycled glass to make products. Glass is known to be one of the least recyclable types of waste. Meanwhile, it can be altered by almost 100% without compromising the quality of the material. Scientists investigated the glass's potential for recycling. They concluded that since it is made up of silicon dioxide, it could be used as an alternative to sand, of which there is an increasing shortage in the world. The team developed an experimental concrete mix of recycled glass, commercial cement products, water and special additives for 3D printing. From this material, they were able to 3D-print an L-shaped bench 40 centimetres high. The results showed that the concrete mixture was liquid enough to be used in the printer. In addition, the printed concrete did not deform or deteriorate before curing. The strength of the product met industry standards. It is also important that the material does not absorb water, as it is naturally hydrophobic. Glass recycling opens up new opportunities for recycling waste and will contribute to greener construction.

Singapore introduces new property tax on the super-rich
Singapore has introduced additional taxes aimed at the super-rich who buy property in opaque structures, the South China Morning Post reported.
A new 35 per cent additional buyer's stamp duty levied on homes transferred to a trust went into effect this week, the report said, adding that authorities have found that people circumvent the extra taxes by buying multiple homes under trusts to hide details of the actual beneficiary.

Rostec supported Victory Day events in Singapore
With the support of Rostec State Corporation, a series of events was held in Singapore at the Center for Foreign Promotion of Russian High Technology Companies and Investment Project Presentation in Singapore as part of the celebration of the Victory Day of the Soviet people in the Great Patriotic War. Visitors could see the exhibitions "Armed with Love. Artists at War", "Women at War. 1941-1945", to take part in the historical interactive event "Children of War. To Remember" and watch the Russian feature film "The Pilot. A Battle for Survival".