Daily Briefing: 5G spectrum to be awarded mid-2020; Health insurance startup CXA Group slashes headcount

And tourism marketing will be bolstered by the government.

From Bloomberg:

Singapore’s Infocomm Media Development Authority (IMDA) eyes awarding the 5G spectrum by 2020 after receiving submissions from Singtel, TPG, and a collaboration between StarHub and M1.

Nationwide roll-out of a parcel locker network to improve last-mile delivery infrastructure as e-commerce is projected to grow at 12% to 20% annually until 2025.

Government intends to deploy 1,000 locker stations across Singapore by end-2022; goal to place a locker station around 5-min walk from every public housing block.

Read the full report here.

From Tech in Asia:

Healthcare insurance CXA Group, backed by Facebook co-founder Eduardo Saverin, laid off dozens of employees as part of cost-cutting efforts.

One employee Tech in Asia spoke to says that there are plans to lay off “close to 40 people” across engineering, product development, and marketing departments as part of cost-cutting measures. A number of employees have already been axed last week.

CXA Group CEO Rosaline Chow Koo confirmed the layoffs in a written email to Tech in Asia, but said only 12 people were affected.

Read the full report here.

From Bloomberg:

In order to bolster a virus-hit tourism industry, Singapore is supporting the upgrades of hotels and attractions, a pipeline of leisure and business events, and the ramping up of tourism marketing, said trade minister Chan Chun Sing.

Singapore’s “most immediate task” is to bolster the tourism sector amid a global coronavirus outbreak, Chan said.

Singapore must plan for long-term changes, including re-ordering of supply chains and technological advances, in order to “emerge stronger” from virus effects.

Singapore should upgrade and expand on its 25 free-trade agreements and hopes to sign the Regional Comprehensive Economic Partnership this year; trade negotiations also ongoing with Latin American blocs and Eurasian Economic Union.

Read the full report here.

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