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MARKETS & INVESTING, RESIDENTIAL PROPERTY | Staff Reporter, Singapore
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Daily Briefing: HDB junks flat sale rule for divorcees; Luxury firm halts blue diamond ICO

And here's a startup that will let you buy electricity through blockchain.

From PropertyGuru via Yahoo! Finance:

The Housing and Development Board (HDB) will scrap a policy which only allows one party to buy or own a subsidised flat within three years from the date of their divorce.

"The removal of this policy was announced by National Development Minister Lawrence Wong at the Ministry of National Development’s Committee of Supply debate today, and applies to flat applications received on or after 6 March.

'Both parties in the divorce will be able to buy or own a subsidised flat each upon divorce, as long as they are each able to meet the eligibility conditions for flat purchase,' said HDB."

Read more here.

From AP via Yahoo! Finance:

Diamonds are not forever. The Singapore-based organizer of a $2m initial coin offering promising a stake in a 2.08-carat blue diamond ring and luxury dinner raffle cancelled the plan Tuesday. This left leaving thousands of investors from dozens of countries in need of refunds.

"Singapore-registered V Diamonds began selling tokens backed by the blue diamond ring in November, promising a one-millionth stake in the ring, set in 18-karat rose gold-plated platinum, for as little as $2.

Ville Oehman, the Finnish founder of V Diamonds, agreed to buy the ring and dinner from the Russia-based World of Diamonds Group as part of a wider promotion. In November he began selling the tokens for $2 or more. Investors also stood a chance to win an 'ultimate dinner experience' in Singapore with a three-hour yacht cruise, gold-plated chopsticks and an 18-course Michelin star meal on a private jet, according to the pre-sales website."

Read more here.

From Tech in Asia:

A Singapore-based startup called Electrify aims to use a blockchain to let consumers buy electricity from energy retailers and other consumers. It has raised US$30m from institutional and individual investors in under 10 days via a token sale.

"It claims that over US$1.3b was pledged towards the startup, which means that it did not accept over US$1.27b in funding.

The funding came from both institutional and individual investors, the company said. Of these investors are prominent VCs like Global Brain and cryptocurrency Ethereum’s co-founder, Wendall Davis. The funds raised will be used to expand into other markets including Southeast Asia, Japan, and Australia."

Read more here.

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