The Afternoon Update with Lynlee Foo

The Singapore dollar has advanced to its strongest in almost a decade. Last week, it hit levels against the US dollar that were last seen in 2014. Yeap Junrong, Market Strategist from IG explains the drivers behind the strong Singdollar and shares technical analysis including tips on Take Profit (T/P) and Stop Loss (S/L) levels. 

If you frequently drive across to Johor Bahru, you would have heard that from Oct 1, all foreign-registered vehicles entering Johor from Singapore must have a Vehicle Entry Permit (VEP) to enter.  As Malaysia prepares to enforce the VEP system, what do you need to know? The Straits Times’ Senior Correspondent, Lee Nian Tjoe, gives us a closer look at the VEP requirements; from applying for one to installing the RFID sticker tag, and how it may impact your next trip.   

Amazon Web Services (AWS) has announced a significant investment of US$6.2 billion (RM29.2 billion) in Malaysia through 2038. It accompanies the launch of the AWS Asia Pacific (Malaysia) Region and offers local businesses, startups, government agencies, educational institutions, and non-profit organisations access to a broad range of AWS cloud services.  Pete Murray, Country Manager, AWS Malaysia tells us more about this exciting development and if neighbouring countries in the region would stand to gain from its multi-billion investment, the largest investment by an international cloud provider in Malaysia to date.

Front and Centre in the markets this week was a slew of macro-economic data in various parts of the world, and of course, the much awaited Jackson Hole speech from Fed Chair Jerome Powell.  Yeap Junrong, Market Strategist at IG, shares his thoughts, as well as what he is looking forward to in the week ahead. 

Tada, known for its zero-commission model, is one of five ride-hailing platforms licensed by the Singapore Land Transport Authority. The Singapore-based ride hailing company launched its services in Thailand in March 2024 and recently announced plans to venture into the Hong Kong market by the end of the year. The company aims to leverage its success in Singapore with its zero-commission model to to spur growth in new markets. Sean Kim, the CEO of Tada, shares more about the company's entry into Hong Kong, why its committed to promoting driver welfare and the general trends and innovations in the ride-hailing industry. 

In a rare feat for educational programmes, education chain, Mindchamps has set a precedent in the industry by securing patents for its innovative education methodology in the US, UK, and Australia. It is the first pre-school globally to achieve this milestone for its unique, research-based pedagogy that uses the learning of music to build fundamental cognitive skills which enhances a child’s ability to pick up mathematics, language and social skills, among others. Mr David Chiem, Founder, Executive Chairman & Group, MindChamps, shares more  

At this year’s National Day Rally, property measures were introduced to provide more financial support for buyers. For example, in a move to cool the HDB resale market, the maximum loan that home buyers can take from the Housing Development Board to purchase their flats will be tightened starting August 20. Debra Teng, Group Associate Director at real estate firm Orangetee, explains what some of these updated measures mean. 

The proliferation of video games and the development of the video game industry have seen competitive gaming as a form of spectator sport. eSports is experiencing rapid growth, despite still being in its relatively formative stages. At the current growth rate, by 2024, there are expected to be over 285 million frequent viewers of eSports worldwide, as well as some 291.6 million occasional viewers. In terms of revenue, the industry is expected to generate more than US$1.6 billion by 2024.  With so much attention and market share at stake, there are bound to be commercial and legal conflicts, especially when intellectual property (IP) is very much at the core of the video game and esports industry. So, what do industry players need to know to ensure compliance and smooth operations and protect their brand identities, to navigate IP in esports? Benjamin Cheong, Deputy Head of Technology, Media and Telecommunications of national law firm Rajah & Tann, tells us more. 

The Mid-Autumn Festival, or mooncake festival, which is an occasion for families to get together and have a good time. Mooncakes are the quintessential symbol of this celebration. There are now more 'healthful' ones in the market like those from Singapore-based traditional chinese medicine company Eu Yan Sang. Can indulgent mooncakes really promote health? Eu Yan Sang's Sharon Tan, Head of Marketing, and Davinna Peh, Assistant Manager, Gifting share about these sweet treats that are crafted with natural premium ingredients such as bird's nest, ginseng and ruby dates.

According to KPMG, 2024 has been a challenging one for fintech market globally driven by concerns like ongoing geopolitical uncertainty and high interest rate. As such, fintech investment globally has declined from $62.3 billion to $51.9 billion between the second half of 2023 and H1 this year—the lowest six months of fintech investment since 2020. Only five deals that are over $1 billion occurred in the fintech space during the first half of 2024—all buyouts.  So is there any optimism in sight for the fintech market in Asia Pacific? Anton Ruddenklau, Global Head of Fintech and Innovation, Financial Services, KPMG International, shares more highlights from KPMG's Pulse of Fintech H1'24 report on Industry Insight.