SG Morning Highlights | Strong demand for tech talent in Singapore despite global Big Tech layoffs: Josephine Teo

Advancers / Decliners is 106 to 41, with 55.58 million securities worth S$79.40 million changing hands.

Malaysian Prime Minister Anwar Ibrahim will visit Singapore on Monday (Jan 30) to meet with Prime Minister Lee Hsien Loong and witness the signing of three agreements between the two neighbours, Singapore's Ministry of Foreign Affairs (MFA) said on Sunday.

This will be Anwar's first official visit to Singapore since he took office last November.

While in Singapore, Anwar, who is also Malaysia's Finance Minister, will attend an official welcome ceremony at the Istana. He will call on President Halimah Yacob and have a meeting with PM Lee, who will also host an official lunch in his honour, said MFA.

Demand for tech talent in Singapore is still strong despite global layoffs by tech giants, while both Singaporeans and the government remain keen on opportunities in tech, said Minister for Communications and Information Josephine Teo at the launch of a tech talent training programme on Thursday (Jan 26).

Microsoft and Amazon have begun cutting a total of 28,000 jobs worldwide, while Alphabet, Meta and Twitter have also announced a slew of layoffs "which may impact their Singapore presence", she noted. But she allayed worries about whether it is "foolhardy to continue encouraging our people to look at opportunities in tech".

"Technology will continue to undergird the growth of our economies," she said, even as tech companies face challenges such as geopolitical tensions and the lingering effects of the pandemic. Citing the problem of past over-hiring, she noted that the recent layoffs represent a "right-sizing" of the workforce.

At the same time, both the Attorney-General's Chambers of Singapore and the Corrupt Practices Investigation Bureau confirmed that Keppel O&M may seek crediting of up to US$52.8 million in fines payable to the Brazilian authorities.

Keppel O&M, a unit under Keppel Corporation, is currently working towards a merger with Sembcorp Marine (Sembmarine) after shareholders approved the proposed merger through an extraordinary general meeting last December.