💻 Bytes Of This Week (8 Apr - 14 Apr)

📊 Market bytes

⬇️ Straits Times Index down from 3218.98 on Monday (8th Apr) to 3216.91 before closing on Thursday (12th Apr)
→ This was down from 3218.26 which was closed on the previous week

📈 Top Performing Stocks of the week includes

1. China Environmental RES GP SGX:UIX

2. GRP SGX:BLU

3. KOYO International SGX:5OC

4. Clearbridge Health SGX:1H3

5. Miyoshi SGX:M03

6. Nauticawt SGX:42D

7. Sunrise Shares Holdings SGX:581

8. Vividthree Holdings SGX:OMK

🌟 Exclusive bytes 🌟

Bridgestone Unveils "Master the Art of Ultra Performance" Campaign

We're thrilled to share exclusive insight into Bridgestone's latest innovation: the "Master the Art of Ultra Performance" campaign.

This initiative, launched by Bridgestone Asia Pacific, India, China (BSAPIC), transcends traditional boundaries by merging art and technology to showcase tire performance like never before.

Imagine tires as canvases for artistic expression. Bridgestone has collaborated with artists, technologists, precision drivers, and motorsport enthusiasts to reimagine tire performance in stunning digital art forms.

By harnessing data from AI-enhanced sensors on high-performance sports cars, Bridgestone has crafted four captivating art pieces that vividly depict tire performance in terms of speed, grip, control, and precision.

But this campaign isn't just about tires; it's about celebrating Bridgestone's rich motorsport legacy.

From top-level professional races to amateur competitions, Bridgestone's tire solutions have been integral to thrilling events worldwide. Moreover, Bridgestone's commitment to sustainable motorsport initiatives underscores its dedication to advancing mobility solutions while promoting environmental sustainability.

The excitement doesn't stop there.

The ad film showcasing these mesmerizing art pieces will soon hit digital media channels across key markets in Thailand, Indonesia, Vietnam, Malaysia, and Singapore, with more markets to follow.

Ready to witness the fusion of art and technology firsthand? Visit the campaign website to explore more and experience Bridgestone's premium tires.

🇸🇬 Main bytes

1️⃣ March Sees 0.3% Price Increase Amidst Reduced Transactions in HDB Resale Market

In March, Singapore's Housing Board (HDB) resale market continued its upward trajectory, with prices edging up by 0.3%, marking the sixth consecutive monthly increase.

Despite this, the pace of growth slowed compared to February's 0.5% rise, according to flash data from real estate portals SRX and 99.co.

Analysts attribute this sustained growth to the demand for larger units and the increasing number of million-dollar transactions in the market.

However, year-on-year, prices surged by 6.2%, reflecting the market's resilience amidst evolving economic conditions.

While resale prices have steadily climbed over the past six months, transactions dipped by 3.3% in March, totalling an estimated 2,063 units.

This decrease may be attributed to some demand shifting towards the HDB's sales exercise in February, which offered a significant number of Build-To-Order flats and Sale of Balance Flats.

Notably, March witnessed 61 resale flats transacting for at least $1 million, an increase from February's 50 transactions.

These high-value transactions, predominantly comprising four-room and five-room flats, were concentrated in both mature and non-mature estates, indicating broad-based demand across different housing segments.

Strong demand for larger flats, particularly five-room units, was observed, driven partly by private homeowners entering the resale market after completing their 15-month wait-out period.

This period which was introduced in September 2022 to cool the market, has spurred activity in the HDB resale segment.

Looking ahead, experts anticipate continued resilience in the HDB resale market, with the number of million-dollar transactions expected to remain high in April.

Flats with a remaining lease of 90 years and above have also played a role in supporting overall resale prices, reflecting ongoing market dynamics.

2️⃣ Singapore Airlines Avoids Iranian Airspace Amid Middle East Tensions

Singapore Airlines (SIA) has ceased using Iranian airspace as a precautionary measure amidst rising tensions in the Middle East.

The move follows Iran's launch of over 200 drones and missiles at Israel, escalating fears of broader conflict.

Iran's retaliation stems from an alleged Israeli strike on Apr 1, targeting an Iranian diplomatic building in Syria. This attack resulted in casualties among Iran's elite Revolutionary Guards.

Responding to concerns, SIA suspended flights over Iranian airspace, echoing actions taken by other airlines like Lufthansa and Austrian Airlines.

Lufthansa announced the suspension of flights to and from Tehran, effective until Apr 18, citing the volatile situation in the region. Austrian Airlines emphasised passenger safety as the primary concern and stated ongoing evaluation of the Middle East situation.

On the other hand, Israel and Jordan announced the closure of their airspace in response to heightened tensions, while Iran threatened reprisals against Israel. Israel's increased strikes on Iranian-linked targets in Syria coincide with the Gaza Strip conflict since last October.

SIA assures continued monitoring of the situation and readiness to adjust flight paths accordingly, prioritising passenger safety amidst geopolitical uncertainties.

3️⃣ Singapore Cracks Down on Youth Vaping: Fines Up to S$2,000 for Offenders

In a recent joint announcement, Singapore's Ministry of Health (MOH) and the Health Sciences Authority (HSA) revealed a stricter stance against vaping among youths.

First-time offenders, including students who are caught purchasing, possessing, or using e-vaporisers, could face fines of up to S$2,000.

This move comes as a response to a concerning rise in vaping incidents among young people.

Schools and institutes of higher learning (IHLs) reported approximately 250 vaping cases to HSA in the first quarter of this year alone.

The authorities emphasised that educational institutions will continue to enforce disciplinary actions, including suspension or caning for boys, in addition to the fines imposed by HSA.

The enforcement extends beyond educational settings.

Joint efforts between HSA and autonomous universities have been intensified, with sanctions now including corrective work orders and the revocation of hostel privileges for offenders.

Singaporean authorities are also targeting the supply chain of vaping products. Operations at checkpoints and airports have led to the disruption of illegal vape distribution networks, with seizures totalling more than S$7 million worth of vapes and components in the first quarter of 2024.

In addition, enforcement actions extend to online platforms hosting vaping-related content.

HSA and MOH have notified 16 social media services and e-commerce platforms to remove such content promptly. Failure to do so may result in enforcement actions against the platforms themselves.

In tandem with enforcement, educational efforts are underway to raise awareness of the risks associated with vaping and provide cessation support.

Collaboration between schools, IHLs, and the Health Promotion Board aims to amplify anti-vaping messages and provide counselling services for students caught in the habit.

🛰️Tech bytes

1️⃣ Battling Fakes: Singapore Start-Up's Tech Takes on Bogus Concert Tickets

Singaporean start-up, Accredify, renowned for its tamper-proof health memos during the Covid-19 era, is now venturing into combating fake concert tickets and academic certificates.

Backed by Okta Venture, this move aims to address everyday scams with verifiable credentials, leveraging blockchain technology to ensure authenticity.

Initially utilised for cross-border travel confidence during the pandemic, Accredify's technology has now evolved to tackle widespread scams, including e-commerce fraud and ticketing scams.

By encrypting ownership of digital assets like concert tickets on the blockchain, Accredify aims to prevent scammers from selling fake or duplicate tickets.

In collaboration with various sectors, including healthcare and education, Accredify has gained traction in Asia and Europe, serving over 900 organisations.

Their recent partnerships with entities like ACRA showcase the versatility of Accredify's technology in combatting fraud across different industries.

In a world where fake credentials pose significant risks, Accredify's efforts align with national initiatives to safeguard against forgery.

From digital certificates for graduating students to QR code verification for business profiles, Singapore is taking proactive steps to ensure document authenticity.

As the battle against fakery extends to fake images and videos, Accredify continues its research to develop solutions that help identify manipulated media.

In a landscape where visual alterations can deceive, Accredify aims to empower users with tools to discern truth from falsehood in the digital realm.

2️⃣ Data Scientists Lead Salary Surge in Singapore in Latest Tech Talent Trends

In the dynamic landscape of Singapore's tech industry, data scientists emerge as the highest earners, surpassing software engineers in pay growth, according to NodeFlair's recent Asia Tech Salary Report.

Amid fluctuations in the tech sector, fuelled by factors like the metaverse chill and crypto volatility, data scientists and cyber-security engineers experienced notable salary increases in 2023.

While software engineers remain highly sought after, with salaries still higher compared to other industries, the advent of generative AI poses new challenges.

As gen AI accelerates code writing, specialists in AI and cyber security become increasingly vital to combat evolving threats, highlighting a shift in demand within the tech workforce.

NodeFlair's co-founder, Adrian Goh, anticipates cloud computing and data engineering to be the next sought-after skills, essential for AI development.

With the increasing complexity of cyber threats targeting AI infrastructure, cyber-security expertise becomes paramount, driving demand for skilled professionals in the field.

In response to evolving talent needs, NodeFlair predicts a rise in cross-border and remote hiring in 2024, emphasising the importance of a global talent pool.

Despite the higher cost of Singaporean tech talent compared to counterparts in India, local workers remain competitive, supported by robust government initiatives for AI training.

💬 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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