Daily Briefing: Officials worry Virtual Singapore could aid terror plotters; CBD two-bedders are world's second most expensive

And here's why experts think fines won't hurt Grab and Uber.

From Reuters:

A digital version of the Lion City called Virtual Singapore will soon roll out to help Singapore’s security forces simulate situations and learn how to respond. However, officials are worried that the platform could also be used by terror plotters that are on the lookout for the financial hub.

“This information will help our daily lives, but it could also fall in the wrong hands and create problems for Singapore,” said George Loh, director of programs at the National Research Foundation, a department in the Prime Minister’s Office which has been leading the project’s development for over three years.

Virtual Singapore will be restricted to computers not connected to the worldwide web when it is rolled out to government offices in the coming months.

Read more here.

From Property Guru:

Condo units with two bedroom in the Central Business District are world’s second most expensive at an average price of $1.4m, a study by UK personal finance website Finder found.

This makes the cost of owning such a home the second most expensive in the world, the portal said. Amongst the 91 countries studied, Singapore was only surpassed by Hong Kong, where two-bedders in the city centre are priced at £1,280,000 (S$2.3 million).

The city-state also beat out Australia (12th), where a two-bedroom condo in the CBD costs $393,300 (£246,000).

In comparison, the UK (£227,000) was ranked 16th, while the US clinched the 35th spot (£111,000).

Read more here.

From CNBC:

Experts believe that the $13m fine imposed by the Competition and Consumer Commision of Singapore to Grab and Uber following the ruling that their merger is anticompetitive will not prick wounds to the ride-hailing firms.

"These imposed fines are even less impactful than a slap on the wrist for Uber and Grab," Corrine Png, CEO of transport research consultancy Crucial Perspective, told CNBC. She pointed to the massive market value of both companies and also to the fact that Grab raised billions of dollars in fresh funds following Uber's withdrawal from the regional market.

"The billion dollar question is whether Grab and Uber went ahead with the merger of their Southeast Asian operations knowing that any fine or penalties permitted by existing regulations would be dwarfed by the jump in Grab's market valuation resulting from this merger," she added.

Meanwhile, NUS Business School visiting senior fellow Alex Capri described the fine as just a warning shot that may form the beginning of potential measures from regulators to deal with fast-growing tech companies.

Read more here.

Photo from Reuters.