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MARKETS & INVESTING, RESIDENTIAL PROPERTY, STOCKS | Staff Reporter, Singapore
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Daily Briefing: HDB eyes to sell build-to-order flats in Punggol Point District; SGX taps US firm to lure US companies to list in Singapore

And Singapore-based startup Travelstop launched with US$1.2m seed fund.

From Property Guru:

The Housing Development Board (HDB) announced that it targets to sell 2,112 build-to-order (BTO) flats this month within the first two residential projects in Punggol Point District.

Known as Punggol Point Woods and Punggol Point Cove, the former will come with 940 flats across six blocks, whilst the latter will consist of five blocks with a total of 1,172 units.

Anticipated to be ready by 2023, the two BTO developments are near the Punggol Point Park and Jetty.

So far, the Housing Board has released around 31 BTO developments with a total of around 25,700 units in Punggol at the last four mentioned districts.

Read more here.

From Deal Street Asia:

The Singapore Stock Exchange (SGX) partnered with Third500 which is an affiliate of US healthcare investment bank Healthios Capital in its crusade to encourage US venture-backed companies to list in Singapore as they already allow dual-class shares like the Hong Kong Exchange (HKex).

SGX has also been forging closer links with foreign exchanges such as NASDAQ and Tel Aviv Stock Exchange (TASE) to deepen its IPO pipeline.

According to an official statement, SGX and Third500 are targeting later-stage, venture-backed companies which have an average of $60 million in private investments that are looking for exposure to Asia. The partnership targets US-based companies from sectors beyond Third500’s focus areas of healthcare and medtech, including telecom, media, energy, technology and consumer discretionary industries.

Read more here.

From E27:

The Singapore startup scene welcomed Travelstop which launched with a US$1.2m seed fund led by venture capital firm (VC) firm SeedPlus.

“This round of funding will be used to drive product development, build a world-class development team in Singapore, and to ramp up growth through sales and marketing. In 2018, we will focus our energies on a few priority markets like Singapore, Malaysia, Indonesia, Thailand, Hong Kong, and Taiwan and will look to expand beyond these markets in 2019,” Travelstop co-founder and CEO Prashant Kirtane said in a press statement.

Travelstop is a software-as-a-service (SaaS) company that provides mobile and desktop platform with the goal to simplify business travel booking and automates expense reporting process.

Read more here.

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