Daily Briefing: SIA offers cabin crew early release and retirement; BondEvalue launches bond exchange platform BondbloX

And foreign workers resume certain types of work without needing BCA approval.

From ChannelNewsAsia:

Singapore Airlines (SIA) is offering its cabin crew members the option of early release or retirement, as it seeks to further cut costs and mitigate the impact of the COVID-19 pandemic.

The COVID-19 Voluntary Release Scheme is also open to cabin crew members who are on probation, and will come with payouts and benefits, an SIA spokesperson said. It is not applicable to trainee crew members.

The scheme was introduced in light of the adverse impact of COVID-19 pandemic and a "slower projected trajectory recovery for international air travel", the spokesperson added.

Cabin crew members from both Singapore Airlines and SilkAir have until 31 August to apply for the scheme.

“Applications are subject to approval and cabin crew who apply for the VRS will be informed on the outcome of their application by mid-September,” the spokesperson said.

Each application will be considered on its merits, with SIA taking into account operational requirements in its review of the applications, the spokesperson added.

Read more here. 

From e27:

Singapore-based fintech startup BondEvalue has launched blockchain-based bond exchange BondbloX (BBX).

BBX makes fractional ownership of bonds possible by allowing them to be traded in smaller denominations of $1,371.14 (US$1,000), which the company believes to be paving the way for many more investors to buy and sell bonds, making bond trading much faster, transparent, and at a lower cost.

Settlement on BBX is on a T+0 basis, that is within seconds instead of the normal two-day settlement cycle, thereby reducing counterparty settlement risks for investors. Investors around the world can trade on BBX via web and mobile devices by opening an account with their banks, wealth managers, family offices or robo-advisors, subject to individual country restrictions on bond trading.

BBX will charge a flat fee of $2.74 (US$2) per trade, irrespective of size and a platform fee of 20 basis points annually, while its partners can opt to charge a commission for each transaction.

Read more here. 

From ChannelNewsAsia:

A select group of foreign construction workers can resume work without needing to apply for approval from the Building and Construction Authority (BCA), as part of measures to restart work with the necessary safeguards in place.

This includes workers involved in home renovations, as well as work such as lift maintenance, facilities management, vector control and maintenance of construction sites.

About 40,000 workers are expected to benefit from this, said BCA in a press release.

Workers approved to return to their jobs must meet several conditions—they have to be clear of the coronavirus, are not on stay-home notice and are staying in dormitories cleared of COVID-19. They must also have installed the TraceTogether app.

Those who meet these conditions will have their AccessCode status on the SGWorkPass platform turned green, meaning they are allowed to resume work.

Read more here.