ECONOMY | Staff Reporter, Singapore

Daily Briefing: Singapore finance minister aims a cautious budget; HDB unveils first new-generation neighbourhood centre

And personal finance startup DollarsAndSense acquires insurtech platform fundMyLife.

From Bloomberg:

Singapore Finance Minister Heng Swee Keat plans to have a cautious budget for 2019 whilst prioritising on social spending ahead of the elections.

Whilst not expected to be as headline-grabbing as last year -- when Heng flagged a hike in the goods-and-services tax -- the 2019 budget will cover a range of familiar policy priorities. Infrastructure spending, more healthcare support for a rapidly ageing population, and help for firms transitioning in a digital economy were top-of-mind for Heng in a previous interview with Bloomberg.

The budget deficit could be smaller than projected, thanks to improved tax collection. Economist at Bank of America Merrill Lynch Mohamed Faiz Nagutha sees a shortfall of 0.6 percent of gross domestic product in the primary balance, versus the government’s 1.6 percent estimate.

Read more here.

From Channel News Asia:

Housing and Development Board (HDB) launched the first new-generation neighbourhood centre in Punggol.

The seven-storey Oasis Terraces, located next to Oasis LRT and facing Punggol Waterway, is also the first neighbourhood centre in Singapore to be integrated with a polyclinic and a childcare centre.

The Housing and Development Board (HDB) said it took into account suggestions by Punggol residents, who want shops and facilities that open until late, family-friendly dining options, as well as sports and recreational facilities.

Read more here.

From e27:

Personal finance startup DollarsAndSense has acquired a fellow local financial planning startup fundMyLife.

By acquiring fundMyLife, DollarsAndSense will add insurtech to its media business. DollarsAndSense stated that it also seeks for better insights into what consumers are looking for, in terms of financial planning knowledge for Singaporeans.

During the transition, fundMyLife co-founders Jackie Tan and Wesley Goi will remain on board to aide a seamless transition.

Read more here.

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