💻 Bytes Of This Week (25 Mar - 31 Mar)

📊 Market bytes

⬆️ Straits Times Index up from 3217.62 on Monday (25th Mar) to 3224.01 before closing on Thursday (28th Mar)
→ This was up from 3217.97 which was closed on the previous week
→ Singapore’s stock market was closed on Friday (29th Mar) due to Public Holiday (Good Friday)

📈 Top Performing Stocks of the week includes

1. VCPLUS SGX:43E

2. Asian Micro Holdings SGX:585

3. Secura Group SGX:43B

4. AJJ Medtech Holdings SGX:584

5. Eneco Energy SGX:R14

6. Singapore Inst Of Adv Med SGX:9G2

7. Oceanus Group SGX:579

8. Keong Hong Holdings SGX:5TT

🌟 Exclusive bytes 🌟

smart #1 Hits Singapore Roads with 2 New Models — Pro+ and BRABUS

28 March 2024 marked a significant milestone in Singapore's automotive landscape as Cycle & Carriage, in collaboration with smart Automobile, introduced the smart #1 Pro+ and smart #1 BRABUS.

These electric vehicles (EVs) herald a new era of intelligent, eco-conscious mobility designed specifically for urban living.

Scheduled for sales launch in April 2024, the smart #1 series showcases futuristic design and sustainable power.

Winners of prestigious design awards, including the 2023 Red Dot Awards and iF Design Awards, the smart #1 Pro+ and smart #1 BRABUS promise cutting-edge innovation tailored to city drivers.

Mr. Wilfrid Foo, Managing Director of Cycle & Carriage Singapore, expressed enthusiasm for the partnership, highlighting their commitment to reimagining the future of motoring.

With an established electric mobility ecosystem, Singapore is poised to embrace the smart #1 as a pivotal player in championing EV adoption.

The collaboration between Cycle & Carriage and smart Automobile signifies a strategic move to capture Singapore's burgeoning EV market.

Ms. Mandy Zhang, Global Chief Marketing Officer of smart Automobile, emphasised the timely expansion into Singapore, leveraging Cycle & Carriage's regional presence and expertise.

The smart #1 Pro+ boasts a range of over 400 kilometres and rapid acceleration, while the smart #1 BRABUS elevates performance with 428 hp and luxury detailing courtesy of renowned brand BRABUS.

As anticipation builds for the showroom launch later in 2024, a series of engaging roadshows and events are planned to introduce the smart #1 to the public.

This includes the official car launch to the public at VivoCity shopping centre in April and pop-ups in popular shopping centres. In addition, smart will also be partnering with events such as Sunset Cinema at Tanjong Beach, Sentosa, as well as institutions like LASALLE College of the Arts, to showcase smart’s ethos of inspiring and recognising future talents.

From official launches to pop-ups at popular venues, smart aims to engage diverse communities and inspire future mobility solutions.

Get ready to embrace the future of driving with smart #1 – where innovation meets sustainability on Singapore's streets.

^{For updates and further details on smart's initiatives and events, follow their social media channels or visit https://sg.smart.com}

🇸🇬 Main bytes

1️⃣ Singapore's Energy Prices Set to Drop in the Month of April - June

Good news for households and businesses alike as gas and electricity prices are slated to decrease over the next three months, starting April.

Announced by SP Group on March 28, electricity tariffs will see a 0.3% dip from April 1 to June 30.

This translates to a reduction to 29.79 cents per kilowatt-hour (kWh) before GST, offering a slight reprieve on monthly bills.

For families residing in HDB four-room flats, the average electricity bill is expected to decrease by 33 cents before GST, alleviating household expenses marginally.

In tandem with electricity, town gas tariffs are also set to decrease by 0.03 cent per kWh during the same period, as revealed by City Energy.

This reduction, attributed to lower energy costs, aims to ease the financial burden on consumers.

In addition, these adjustments reflect the ongoing quarterly revisions based on changes in fuel and power generation costs.

With energy prices on a downward trajectory, consumers can anticipate a modest relief in their utility bills, contributing to improved affordability in the coming months.

2️⃣ Singapore Shifts HIV Policy to Enhance Testing and Treatment

A significant legislative change in Singapore aims to reshape how the country addresses the human immunodeficiency virus (HIV) epidemic.

Recent amendments to the Infectious Diseases Act eliminate the obligation for some HIV-positive individuals to disclose their status to sexual partners, provided they maintain an undetectable viral load.

In a report from Straits Times, Health experts assert that this shift will play a crucial role in steering Singapore towards achieving global targets to eradicate HIV as a public health threat.

Assistant Professor Dariusz Piotr Olszyna, Director of the HIV Programme at the National University Hospital, also underscores the potential of this amendment to stimulate HIV testing and treatment uptake.

The amendment aligns with the Joint United Nations Programme on HIV/Aids' (UNAids) ambitious 95-95-95 targets for 2025, focusing on viral suppression among HIV patients.

Despite commendable progress, Singapore faces challenges in meeting UNAids' benchmarks, particularly in encouraging more individuals to undergo HIV testing.

Assistant Professor Rayner Tan at the Saw Swee Hock School of Public Health emphasises the pivotal role of overcoming stigma associated with HIV testing.

The amended law offers incentives for HIV-positive individuals to adhere to treatment regimens and monitor their viral loads regularly, thereby reducing the risk of transmission.

Collaboration between the Ministry of Health (MOH), the National Centre for Infectious Diseases (NCID), and non-governmental organisations like Action for Aids (AfA) is pivotal in implementing initiatives to enhance testing accessibility and affordability of antiretroviral treatment.

While legislative changes mark a step forward, addressing societal stigma surrounding HIV remains imperative.

Dr. Wong Chen Seong, Director of the National HIV Programme at NCID, emphasises the importance of reducing discrimination to encourage testing and diagnosis.

AfA President Roy Chan stresses the counterproductive nature of laws criminalising HIV non-disclosure, advocating for measures that promote testing and treatment.

Singapore's proactive approach in revising HIV policies underscores its commitment to public health and societal well-being.

As the nation prepares to implement these amendments, collaboration between authorities, healthcare professionals, and advocacy groups remains paramount in combating HIV transmission and fostering a supportive environment for those affected.

3️⃣ Former Minister S. Iswaran Faces New Charges: What You Need to Know 

The legal saga involving former transport minister S. Iswaran took a significant turn on March 25 as he faced eight new charges, bringing the total to 35.

These charges, under Section 165 of the Penal Code, allege that Iswaran received items worth approximately $19,000 from an individual connected to his official capacity.

The Corrupt Practices Investigation Bureau (CPIB) stated that Iswaran allegedly obtained various valuables from Lum Kok Seng, a figure involved in businesses related to Iswaran's ministerial role, between November 2021 and November 2022.

The items reportedly include whisky, golf clubs, and a Brompton bicycle, among others.

These allegations coincide with a broader investigation into Iswaran's activities, including previous charges related to corruption and obstructing justice.

Notably, Iswaran pleaded not guilty to the recent charges, indicating a protracted legal battle ahead.

While the legal intricacies unfold, questions arise concerning the timing and nature of the charges.

Iswaran's defense team raised concerns about the delay in tendering the new charges, highlighting discrepancies between the number of cautioned statements and actual charges presented.

The case underscores the gravity of allegations against a former high-ranking official and raises broader concerns about corruption and accountability within Singapore's public sector.

As legal proceedings continue, the outcome will likely shape public perceptions and the nation's approach to governance and transparency moving forward.

🛰️Tech bytes

1️⃣ Indonesia's Growing Sectors Invite Singaporean Investors

Exciting opportunities are on the horizon for Singaporean businesses eyeing expansion into Indonesia's burgeoning tech and energy sectors.

Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto highlighted the potential for Singaporean companies to participate in Indonesia’s growth trajectory, emphasising sectors such as digital economy, electronics, and renewable energy.

Speaking at the Indonesia-Singapore Business Forum, Mr. Airlangga outlined Indonesia's commitment to fostering economic growth through initiatives like special economic zones and investments in human capital development.

These efforts align with President-elect Prabowo Subianto’s vision for Indonesia's economic future, ensuring continuity in macroeconomic stability and prudent governance.

Minister for Trade and Industry Gan Kim Yong echoed the sentiment, underscoring the strategic partnership between Singapore and Indonesia in areas such as healthcare, digital innovation, and green economy.

Emphasising the significance of tech talent and data security, Mr. Gan stressed the need for collaborative frameworks to unlock the region's digital potential.

The collaboration between Singapore and Indonesia extends beyond economic cooperation, with notable advancements in climate change initiatives and energy partnerships.

Conditional approval for the import of low-carbon electricity from Indonesia to Singapore also signifies a significant step towards sustainable energy solutions and cross-border collaboration in the green economy.

Indonesia’s Ambassador to Singapore Suryo Pratomo emphasised Indonesia's economic resilience amidst changing political landscapes, reaffirming its commitment to long-term growth.

With bilateral trade reaching $69 billion in 2023 and Singapore maintaining its position as Indonesia’s top source of foreign direct investment, the foundations for robust economic ties between the two nations are firmly established.

As both countries explore avenues for mutual growth and investment, forums like these serve as platforms for dialogue and collaboration, fostering stronger economic partnerships and paving the way for shared prosperity in the region.

2️⃣ NUS Invests Heavily to Support Deeptech

The National University of Singapore (NUS) is investing nearly S$20 million for further development and commercialisation of deep tech research.

The move and investment from NUS is said to be a strategic move to scale advanced research into practical applications, with an emphasis on technologies that can address outstanding global issues such as climate change and food security.

Half of the funds (almost S$10 million) will be designated for helping NUS faculty members and researchers turn their deeptech projects into marketable products.

The other half of the amount will be used to bolster the university’s Graduate Research Innovative Programme, also better know as NUS Grip — An existing program designed to guide and support aspiring entrepreneurs in launching businesses based on deeptech innovations.

This new investment will be an add on to NUS’s previous partnership with Nanyang Technological University (NTU) and Temasek for a roughly US$55 million pilot program for deeptech startups stemming from the two universities.

🚗 Transport bytes

1️⃣ New Era for Drivers Ahead With the Roll Out of ERP 2.0 Starting May 1

From May 1st, new vehicles will come equipped with the latest on-board units for the next-generation ERP system, marking a significant leap in Singapore's road pricing technology.

Additionally, existing motorcycle owners will soon receive notifications to replace their current in-vehicle units (IUs) starting June 1st.

The installation will be complimentary within a specified period, streamlining the transition for drivers.

The Land Transport Authority (LTA) revealed that since November 2023, over 13,000 vehicles, primarily fleet vehicles, have been fitted with the new units.

From January, all public buses were integrated while new motorcycles have been pre-fitted with these new IUs recently.

Unlike the previous system, motorcycles will have a single hardware piece mounted on the handlebar, while other vehicles will have up to three components, including a touchscreen display.

Notably, this next-gen ERP system is compatible with all existing ERP and parking gantries, ensuring a seamless transition for drivers.

LTA also emphasises convenience for vehicle owners, providing options for appointment scheduling and customisation during installation.

Sellers of new vehicles post-May 1st will discuss installation preferences with buyers, further streamlining the process.

In response to feedback, LTA is refining the system, including a feature allowing temporary deactivation of stored-value cards for parking payment.

This enhancement, along with wireless updates for added functionalities, underscores the adaptability and user-centric approach of the new ERP system.

As the country moves towards satellite navigation-based road pricing, this transition heralds a more efficient and technologically advanced era for Singaporean drivers.

💬 Editor’s byte

Thank you for sticking through till the end of this newsletter!

As always, your continued readership is greatly appreciated. If you have any feedback, whether it pertains to the content or any other aspect of bytedot, please don't hesitate to reach out to us at [email protected]

We're excited to bring you more insightful content in the next newsletter. Until then, stay safe and well-informed!

Cheers, D from bytedot

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