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INFORMATION TECHNOLOGY, MARKETS & INVESTING, RESIDENTIAL PROPERTY | Staff Reporter, Singapore
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Daily Briefing: Parliament to look into SingHealth cyberattack; Temasek extends US$200m credit facility to US clothing retailer

And DBS says property-related loans could be slashed by $1b in H2.

From Yahoo! News Singapore:

The Parliament will be hearing the statement by the minister for health and minister for communication and Information on the cyberattack against SingHealth on 6 August along with the hearing for the recent National Service (NS) training-related death.

The parliamentary session comes after the Ministry of Health (MOH) and the Ministry of Communications and Information (MCI) issued a joint statement on 20 July to say that the personal particulars of about 1.5 million patients, including that of Prime Minister Lee Hsien Loong, were stolen from SingHealth’s database in a recent “deliberate and well-planned cyberattack”.

A Committee of Inquiry had been set up to look into the data breach that took place on or around 27 June, MCI said on 24 July.

Read more here.

From Deal Street Asia:

Temasek approved a U$200m credit facility to US retailer Rent the Runway which engages in e-commerce services to provide rentals for casual and designer clothings.

Temasek’s term loan to the retailer offers it the flexibility to pull portions of the funds when needed. Rent the Runway plans to use the funding to grow its subscription business, expand logistics operations and refinance its existing debt.

“The ability to draw from this facility gives us flexibility to accelerate our growth plans for our subscription business over the next few years,” said Scarlett O’Sullivan, chief financial officer of Rent the Runway.

According to a statement, Temasek said they have been increasing their focus on “technology enabler” sectors such as the payments space.

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From Property Guru:

DBS thinks that their mortgages to homebuyers could decline by around $500m whilst loans to property developers are expected to fall by around $500m amidst the property curbs.

“We originally anticipated putting on about $4 billion consumer mortgages,” said DBS Group Holdings’ CEO Piyush Gupta during the company’s Q2 earnings briefing on 2 August.

“With the slowdown and given what happened in the last set of tightening measures, I anticipate we’ll probably give up about half a billion dollars in new-loan booking in the second half of this year, so we’d probably come in at $3.5 billion instead (for loans to home buyers only).”

DBS is considered the biggest home lender in Singapore with a market share of 31 percent.

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