Daily Briefing: Local start-ups nab $40m boost; Indonesia models sovereign investment firm after Temasek

And upper-floor factory unit sales hit 10-year low.

Singapore's start-up scene received a boost on Thursday, after the government said it will provide funds to four large local enterprises to match their investments in fledgling local companies. Read more here.

Indonesia is turning to Singapore’s Temasek Holdings Pte. as a model to create a sovereign investment company to drive development in Southeast Asia’s biggest economy. The government is considering starting an investment holding company for four or five state-owned entities, which could then buy shares in Indonesian companies, Finance Minister Bambang Brodjonegoro said in an interview in Jakarta on Monday. Read more here.

Overall demand for upper-floor strata-titled factory units in Singapore slumped during the first quarter to its lowest level in 10 years, according to the latest research bulletin by Knight Frank released this month. Read more here.