Daily Briefing: Carro invests $41.32m in Malaysian car bidding platform; Government mulls setting fixed price for GSW public housing

And Grand Prix organisers are stocking up on face masks against haze.

From e27:

Carro, a wholesale automotive marketplace headquartered in Singapore, has invested $41.32m (US$30m) in Malaysia-based car bidding platform myTukar, according to an announcement

With this investment, Carro’s technology will power myTukar to “digitally enable the traditional used car dealerships across Malaysia and boost inter-city car sales,” the release read.

Carro will focus on helping traditional car dealerships connect with private sellers via e-commerce channels.

“Through myTukar, we plan on working with thousands of dealers across Malaysia to catalyse the growth of the used car market. Over the next few years, we plan to triple their existing transaction volume to over $688.6m (US$500m),” said Aaron Tan, CEO of Carro.

Founded in 2015, Carro is a subscription-based car service, which enables consumers to select a plan and drive off with a car of their choice without the hassle of traditional car ownership.

Read more here.

From Channel News Asia:

The government is working out a new pricing model for future public housing in the Greater Southern Waterfront, in order to mitigate the so-called “lottery effect” of obtaining a subsidised flat in a prime area, said Minister for National Development Lawrence Wong on 19 September.

His comments came after Prime Minister Lee Hsien Loong said in his National Day Rally speech last month that the Government plans to build 9,000 private and public housing units on the site of the current Keppel Club when the lease expires in two years' time.

Several analysts had raised concerns on whether public housing in the Greater Southern Waterfront would create a “lottery effect”, where owners sell their units for far higher prices than initially purchased.

Speaking to CNA938’s Arnold Gay and Yasmin Jonkers, Wong said that the Government is still studying the best way to price future homes in the area.

“On the other hand, if we were to keep the subsidy the same, then the price of those flats will be very high and out of reach. So we have to work out a new model for public housing in the Southern Waterfront. That’s something we are working on,” he said.

Read more here.

From Reuters:

Singapore Grand Prix organisers are stocking up on disposable face masks to potentially sell to spectators as the worst air pollution in three years threatens to taint the city-state’s marquee sports event.

Organisers will be keeping close tabs on air pollution readings as the $100m street race kicks off on Friday, just days after Singapore authorities warned that haze levels could worsen and advised people to reduce outdoor activity.

Singapore and large parts of Malaysia have been blanketed in recent days by smoke emanating from forests across Indonesia, where blazes are often started to clear land for plantations.

Singapore Grand Prix said disposable masks, which cover the nose and mouth to protect the wearer from breaking into small particles in the air, will be available for sale at merchandise booths if the pollution hits certain predetermined levels. They will also be made available to vulnerable groups such as the elderly, children and pregnant women at first aid booths.

Read more here.