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ECONOMY, FINANCIAL SERVICES, TRANSPORT & LOGISTICS | Staff Reporter, Singapore
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Daily Briefing: Bike users raise concerns about QR code bugs; Banks may ramp up ECM hiring amidst MAS $75m enterprise financing grant

And a residential site in Serangoon Gardens sold for $9.8m.

From Channel News Asia:

Bike-sharing users are complaining over unfair charges from the QR-code system measure implemented by the Land Transport Authority in its bid to ensure bicycles are parked in designated parking slots.

Bike-sharing companies Mobike, SG Bike and Anywheel, who have all been awarded licences to operate in Singapore, said that they are aware that some of their customers have been unfairly charged.

Mobike Singapore country manager Sharon Meng said that the company has received similar feedback from users, and has validated and refunded several disputed charges.

She highlighted that users can submit their appeals to Mobike's customer support team through email or the app.

Read more here.

From eFinancial Careers:

Banks in Singapore are likely to step up their hiring in equity capital markets (ECM) following the the launch of the Monetary Authority of Singapore’s (MAS) $75m grant for Equity Market Singapore (GEMS) which is a three-year plan to help businesses raise capital.

“Over the past few years in Singapore, hiring in ECM has been very sporadic due to a low demand for these bankers,” Serena Fernando, a financial services consultant at recruiters Robert Walters, said. “This grant will not only enhance our private and public markets, but will also encourage more listings among local and foreign enterprises, which will in turn lead to a demand for ECM bankers to raise capital and work on these initial public offerings (IPOs).”

ECM bankers who specialise in technology will be most in demand as the MAS initiative gives companies in this sector the most generous subsidy of their IPO expenses, Mark Li, a client solution director at recruitment firm Randstad in Singapore, added. Companies in what MAS calls ‘high-growth’ industries such as advanced manufacturing and healthcare can also potentially qualify for larger listings discounts.

“This expected increase in IPOs will result in finance firms increasing their ECM headcount, because tech and high-growth companies will need more IPO services from investment banks and from corporate-finance firms like the Big Four,” Li said.

Read more here.

From iCompare Loan:

A mixed landed residential development site in Serangoon Gardens with a combined land area of approximately 10,602 sqft sold for $9.8m through a tender exercise. 

The estate was put up for sale by the trustees of the late Manasseh Gladys Estelle who is a descendent of a significant trade merchant who was one of the first Jews in Singapore. Properties once owned by the Manasseh family include Eden Hall on Nassim Road, which is currently the official residence of the British High Commissioner to Singapore and Goodwood Hall, which is now the Goodwood Park Hotel.

The single-storey detached house straddles two adjoining lots along Berwick Drive with a frontage of approximately 33 m and a depth of 30 m. Under the 2014 Master Plan, the site is zoned for two-storey mixed landed residential use. Subject to planning approval, the site can potentially accommodate either a pair of detached houses, two pairs of semi-detached houses or a combination of both housing types.

Read more here.

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