The 5G-capable Samsung Galaxy S20 FE is officially out, and it’s coming to Singapore on Oct 16, 2020 . Before we take a look at the pre-order details, let’s look at what’s coming:
Samsung Galaxy S20 FE (128GB model): $1,098 Samsung Galaxy S20 FE (256GB model): $1,168 The 128GB Galaxy S20 FE has Cloud Lavender, Cloud Mint, and Cloud Navy available through all official channels. Cloud Orange and Cloud White are exclusive to the Samsung Online Store and Samsung Experience Store.
On the other hand, the 256GB Galaxy S20 FE has Cloud Lavender, Cloud Mint, Cloud Navy, and Cloud Red available through all official channels. Both Cloud Orange and Cloud White are exclusive to the Samsung Online Store and Samsung Experience Store, too.
Additionally, the official retail prices of the Galaxy S20 FE accessories are:
SINGAPORE – The benefits offered by MediShield Life are set to be widened from next year, to cover more and larger hospital bills, with proposed yearly claim limits raised from $100,000 to $150,000.
To pay for these additional benefits and rising healthcare costs, premiums are expected to go up next year by as much as 35 per cent.
This will be the first increase in premiums for the compulsory health insurance since its launch five years ago. At the upper end, the proposed hike will exceed $500 a year.
But given the difficult times Singaporeans are facing now, Health Minister Gan Kim Yong said the Government will soften the impact of the premium increase with a special Covid-19 subsidy for the first two years.
In the first year, all Singaporeans will get a 70 per cent subsidy on the increase. This goes down to 30 per cent in the second year. This will cost the Government $360 million.
This is on top of the existing subsidies of 15 to 50 per cent given to middle- and lower-income groups, and 40 to 60 per cent for Pioneers. The Merdeka Generation receives additional subsidies of 5 to 10 per cent.
SINGAPORE – Singaporean conglomerate Keppel Corp said on Tuesday it had identified assets worth S$17.5 billion ($12.8 billion) that could potentially be monetised, including through sales, and started a review of its lossmaking offshore and marine (O&M) business.
The plans unveiled on Tuesday are part of Keppel’s 10-year strategy that it had flagged earlier this year to refocus its portfolio to energy and environment, urban development, connectivity and asset management.
Keppel said it was exploring options including strategic mergers and disposals for its offshore and marine business, which builds oil rigs and has been battered by falling energy prices.
In August, state investor Temasek Holdings abandoned its $3 billion (S$4.1 billion) offer to raise its stake in Keppel to a majority holding after the company reported weak results.
File photo of a family outing at Marina Barrage in 2019. (Photo: Goh Chiew Tong)
SINGAPORE: It’s easy to think of climate change as distant issue that would affect other countries, when Singapore, at first sight, does not seem prone to extreme weather events such as the recent flooding in China or bushfires in Australia.
But most of us sat up when Prime Minister Lee Hsien Loong announced a goal of spending at least S$100 billion for adaptation to rising sea levels at the National Day Rally in August 2019. And in Singapore’s urbanised and humid environment, increasing heat is a real health concern.
His announcement framed further changes underscoring the looming climate emergency and the steady realisation that countries, communities and businesses must retool themselves for that future.
The global financial community too, is grasping this new reality and its implications for investments.
“Climate change has become a defining factor in companies’ long-term prospects … Every government, company, and shareholder must confront climate change” investment powerhouse BlackRock CEO Larry Fink said in a groundbreaking set of letters to their clients and investees in January.
These outlined how the firm will shift gears to place “sustainability at the center of [their] investment approach”, to reduce their risk exposure and provide better returns to clients.
There is growing worldwide momentum from financial regulators and institutions to promote sustainable finance, fulfil environmental, social and governance (ESG) goals and hedge against rising environmental risks.
Here in Singapore, there has been a mushrooming of initiatives geared towards this new landscape.
The Monetary Authority of Singapore (MAS) announced a US$2 billion investment last November to develop green markets. MAS also recently released a consultation paper on new guidelines to manage environmental risks for financial institutions.
SUSTAINABLE INVESTMENT SHOWING POSITIVE RETURNS
Since socially responsible investment practices first emerged in the 1960s alongside anti-war and civil rights movements, sustainable investment has evolved to cover a wide range of approaches.
Larry Fink, Chief Executive Officer of BlackRock, takes part in the Yahoo Finance All Markets Summit in New York, U.S., Feb 8, 2017. (File photo: REUTERS/Lucas Jackson)
These range from investing in low-carbon sectors such as renewable energy or excluding financing harmful activities such as tobacco, to investing in companies that manage their environmental and social impacts. For example, palm oil companies that commit not to clear forests and to respect human rights in the course of doing business.
These expectations from investors have contributed to the widespread development of stakeholder capitalism globally.
This translates to businesses and financial institutions alike integrating ESG considerations in their strategies and operations.
In Europe, half of total assets under management in 2018 were defined as sustainable, and in Japan such assets quadrupled from 2016 to 2018. And while there is not yet a single definition for sustainable investments, the urgency of climate change has lent sustainable investing sharper focus and greater urgency.
A key misperception is that sustainability means investors have to accept lower returns. This is not the case, particularly true as impending technological and policy developments will make sustainable investments increasingly attractive.
Despite the massive social and economic shock brought by the COVID-19 pandemic, it has highlighted a trend that has become increasingly clear – with sustainability funds outperforming the market, both in developed and emerging markets.
In the first quarter of 2020, returns of two-thirds of global sustainable equity funds ranked in the top half of their category.
An increasing body of research suggests that sustainability translate to resilience to external shocks. A review of over 200 studies by Arabesque and the University of Oxford in 2016 found that companies with good sustainability practices tend to have better operational performance and a lower cost of capital.
Sustainable funds have seen also record inflows this year, including in Asia, which demonstrates investors’ increasing interest for sustainable assets.
FUNDAMENTAL CHANGES ARE UNDERWAY
Certain structural changes, including in the regulatory landscape, suggest the smart money is on going green.
View of the Singapore skyline. (Photo: Jeremy Long)
Major Asian asset owners such as Japan’s Government Pension Investment Fund and several of Singapore’s largest asset managers recently signed up to the UN-supported Principles for Responsible Investment, which gathers investors representing US$90 trillion of assets under management that commit to responsible investment practices.
A growing number of leading asset owners and investors have joined forces in collective engagement initiatives, driving shifts in the sustainability practices of the companies they invest in.
Another key trend is the shift away from fossil fuels, and coal in particular. An increasing number of investors and banks, including major Japanese and Singapore banks – such as the Japan Bank for International Cooperation, MUFJ and DBS – have taken steps to reduce finance to coal-related activities, which are increasingly unprofitable and reliant on subsidies.
This evolution has been aided by fundamental changes in the energy markets. Thanks to rapidly falling costs, according to financial think tank Carbon Tracker, new solar power projects in Vietnam and Indonesia are expected to be cheaper than existing coal within the next 10 years.
Countries are already shifting their focus. Bangladesh recently announced it may scrap 90 per cent of planned coal plants while Vietnam may also shelve half of its pipeline of coal projects.
However, the shift is not happening fast enough and many institutions are still exposed to risky, carbon-intensive, projects. In particular, with oil prices at historically low levels, investors should consider increasing calls for governments to reform costly fossil fuel subsidies.
There are also more calls to set higher standards for sustainable finance around the world.
The Network for Greening the Financial System (NGFS) is a coalition of central banks and supervisors that has grown to about 70 members, with increasing representation from Asia.
Smoke and steam billows from the coal-fired power plant owned by Indonesia Power, next to an area for Java 9 and 10 Coal-Fired Steam Power Plant Project in Suralaya, Banten province, Indonesia, Jul 11, 2020. (Photo: REUTERS/Willy Kurniawan)
Since its launch in December 2017, it has produced a number of landmark reports and guidance, with the goal to share good practices, accelerate the understanding of climate-related and environmental risks and how they can be managed, and foster the development of green finance.
COVID-19 SHOULD NOT SET US BACK
2020 was supposed to be a “super year” for biodiversity and climate, with signatories to the Paris Agreement to submit updated pledges to reduce greenhouse gas emissions, and the Convention on Biological Diversity to be held in China.
With COVID-19, these milestones have been pushed back. Despite calls from institutions such as the United Nations and the World Bank to “build back better”, there is concern that countries around the world may be slowing down sustainability efforts, with some governments even rolling back environmental legislation.
In Brazil, for example, illegal deforestation has soared as the Bolsonaro government loosened environmental law enforcement.
The International Energy Agency (IEA) also expects global power investment to fall by 10 per cent in 2020, sparking worries the deployment of clean energy could be derailed.
Similarly, corporations may put sustainability on the back-burner. A recent GlobeScan survey of around 100 large global companies found that around half expect cuts to their sustainability budgets over the next 12 months.
However, government policies should support sustainability efforts and the growth of sustainable finance, to attract fresh investments to build needed infrastructure that not only mitigates growing climate risks but also create new business opportunities and jobs.
This is a win-win for national governments and companies in Southeast Asia and beyond.
It has been shown that investments in sectors such as energy efficiency in buildings and afforestation can create respectively six and 15 times more jobs than in the fossil fuel sector, according to estimates by WWF that build on various academic studies. Embracing sustainability principles would also attract investors.
Artist impression of the upcoming 60MWp floating solar system on Tengeh Reservoir. (Photo: PUB/Sembcorp)
THE CRISIS IS AN OPPORTUNITY TO ACCELERATE TRANSITION
The coronavirus should also remind us of the urgency of tackling the growing climate and environmental crises we face.
The United Nations, World Health Organisation and WWF have warned that more pandemics are likely in the future unless the destruction of nature is halted, and greater attention should be devoted to addressing these issues.
First, policymakers should direct recovery efforts towards sectors that contribute to a low-carbon, resilient, and more equitable economy.
Green strings could be attached to financial support. For instance, car manufacturers and airlines that receive support should be required to invest in clean transportation.
Fossil fuel subsidies should be abolished as they distort markets, and governments must strengthen commitments under the Paris Climate Agreement.
Second, companies should take steps to transition their business models, for instance, setting targets to reduce emissions and limiting the impacts of their production or sourcing on natural environments.
Third, the financial sector should fully play its role, by working with clients to support sustainability commitments, identifying financing needs and accelerating change through innovation. New emerging products such as bonds whose pricing is linked to sustainability targets can be used to support the necessary transition.
Central banks and financial regulators should take actions to address risks in the financial sector. This can come through harmonised standards across countries and regions that reduce risks of greenwashing while facilitating cross-border investments.
We need to ensure the positive trends in sustainable investment witnessed before the pandemic are not just continued, but amplified. The stakes could not be higher.
Sylvain Augoyard is Vice-President, Asia Sustainable Finance, WWF-Singapore. Dr Helena Wright is Vice-President, Sustainable Infrastructure & Energy Finance at WWF-Singapore.
SINGAPORE: Wedding planners, hotels and other venues are expecting a boost in business with the recent announcement that COVID-19 restrictions would be eased.
From Oct 3, up to 100 people – including the couple but excluding vendors and service providers – will be allowed to attend wedding ceremonies and receptions, double the current limit of 50.
The 100 attendees must be separated into multiple zones of up to 50 people each, or split by staggered timings with up to 50 people in each slot.
Wedding planners CNA spoke to said they expect to get more enquiries over the next few weeks, since couples have “a greater level of certainty” to proceed with their weddings.
“Previously, many couples were in limbo on whether to proceed with their wedding planning as they are worried that new restrictions might be imposed against them,” said founder of Pei Weddings Chea Pei Yee.
“With the announcement, they seem to have a clearer direction on where the wedding scene is paving towards and they feel more relieved proceeding with their wedding plans.”
During the “circuit breaker” period, many couples held off proposal plans and are only proposing now, said Ms Michelle Lau, founder of wedding planner company Arches and Co.
Noting that the second half of the year is usually associated with higher engagement rates, Ms Lau added that more couples are likely to book staycations in the next few months for their proposals, then start planning for their wedding.
As the number of community COVID-19 cases in Singapore remains low, more couples are also hopeful that the restrictions will be further eased in time to come, said wedding planners.
While the number of enquiries has picked up since the circuit breaker period, it is still not as high as that of the same period last year, said Ms Lau.
“For new enquiries, couples are still pretty much looking at Q2 2021 onwards, in hopes that they can have a bigger party with more guests allowed,” she added.
HOTELS GETTING MORE ENQUIRIES
Hotels have also seen an uptick in enquiries from existing customers looking to increase the number of wedding guests, as well as couples who want to book a new package.
“Since the cap for weddings was increased to 100 pax, we have received numerous enquiries from couples who have already booked with us and want to increase the number of attendees and couples who had earlier postponed their wedding and now want to go ahead with it.
“We have also received new bookings as a result of this latest ruling,” said Mr Lee Richards, vice president of operations, South East Asia, Millennium Hotels and Resorts.
The group owns six hotels in Singapore: Copthorne King’s Hotel, Grand Copthorne Waterfront Hotel, Orchard Hotel, M Hotel, M Social and Studio M Hotel.
Adding that demand for wedding packages is “quite on par” with that of last year, Mr Richards said: “To cater to safe distancing and safe management measures, our hotels have come up with flexible and interesting packages that cater to the market.
“We have launched hybrid weddings whereby guests can attend weddings in the comfort of their home through a virtual service, which allows them to send well wishes to the couple and family.”
General manager of The Fullerton Hotels and Resorts Cavaliere Giovanni Viterale said the hotel has received strong interest in popular wedding dates such as Oct 10 and Dec 12, with a 30 per cent increase in the number of wedding enquiries compared to the same period in 2019.
The hotel has also received more than 40 enquiries from couples who want to increase the number of guests in their guest lists, he added.
“In view of the lightened restrictions, we are positive that demand for wedding events at our hotels will continue to grow,” said Mr Viterale.
“This is especially due to the pent-up demand during the past few months where couples have had to postpone or reschedule their weddings, as well as due to the fact that couples have become more receptive to the idea of holding smaller-scale wedding events in light of the current situation.”
The Asian Civilisations Museum, Fullerton Hotel and Marina Bay Sands are pictured in Singapore on Jun 11, 2020. (Photo: AFP/Roslan Rahman)
At Grand Hyatt Singapore, there has been an increase in uptake from couples who have been in discussions with the hotel from the first half of the year, said director of events June Choong.
The hotel is expecting more bookings to come “in the next couple of weeks”, said Ms Choong, adding that it has received an “encouraging” number of enquiries since the announcement of the new restrictions.
The hotel’s four ballrooms can accommodate wedding celebrations for 100 guests, she said.
A Far East Hospitality spokesperson said demand for wedding packages has increased by about 15 to 20 per cent across its properties.
“However, the overall bookings are still significantly less – about 40 per cent – as compared to pre-COVID days,” the spokesperson added.
Far East Hospitality runs the Village, Quincy, Oasia and Rendezvous brands of hotels. While the hospitality group does not foresee an increase in the number of wedding receptions, it is expecting couples who postponed their weddings to later this year to invite more guests to their receptions, the spokesperson said.
SOME COUPLES PLAN TO KEEP NUMBERS LOW
While couples are generally happy about the relaxation of rules, not all plan to scale up their weddings.
For Ms Brenda Tan and her fiance Mr Matthew Chong, COVID-19 restrictions announced in July meant they had to whittle down their original guest list of about 180 friends and family members to about 50 people.
Even though they can now invite up to 100 people in two separate rooms or sessions, the couple decided to stick to around 50 guests because their venue is a restaurant that only has one main room.
Engaged couple Mr Matthew Chong and Ms Brenda Tan plan to invite around 50 guests for their wedding this December. (Photo: Ang Hwee Min)
“Also, when you want people to come and watch your solemnisation, you want everybody to come together. You can’t tell them ‘I’ve got my first round of solemnisation at 7pm and second round at 8pm’,” added Ms Tan.
The couple said it is unlikely that they will expand their guest list unless they can host everyone in the venue in one session for their wedding in December.
“I don’t want a case of I plan for 50, then it becomes 75 and then 100, then I have to keep changing and keep thinking of who to add and how to invite them,” said Ms Tan.
“As much as we’re trying to give a lead time to our vendors and the people whom we’re inviting, I think the many changes and the uncertainty also make it very hard to plan things. The less I have to change the better.”
Instead of postponing the wedding after the pandemic hit, the couple brought it forward from May 2021 to December this year in a “spur of the moment” decision, partly because their home renovations were completed, Mr Chong told CNA.
A smaller wedding is also a “good chance” to keep costs low, Ms Tan noted.
“Everything is so uncertain. Even if the wedding goes back to next year, there’s no saying whether in May 2021 I can have 180 or 200 (guests) without restrictions.
“For example, if they said I’ll need safe distancing, then my venue has no way of accommodating 180 or even 150 with safe distancing,” she added.
“So even if I make a decision to have it then, there’s no guarantee that I can have the capacity that I want. I’m just putting a deposit down in advance to say that I hope everything goes well and that I can have it then. So honestly because of that, I felt like ‘why wait?’”
Arches and Co’s Ms Lau told CNA that about 90 per cent of the couples she is working with are happy that the restrictions are being eased.
“However, I do have some couples who are choosing to stick with the previous limit of 50 pax to have smaller, more intimate weddings,” she said.
“Some couples are secretly happy that they do not have to invite everyone on their parents’ guest list (like) distant relatives, friends who are not close to the couple and so on.”
The requirements on zoning and staggered timings may also discourage couples from expanding their guest lists if their venue of choice cannot accommodate the numbers.
For example, couples who plan to hold their weddings at restaurants may face greater challenges in accommodating 100 guests in separate zones in a single session, said Pei Weddings’ Ms Chea.
“Time and effort will need to be invested by the planners/coordinators to consider the new requirements such as zoning plans and/or different batches of guests in view of the latest government regulations.”
Heaven’s Gift started to incorporate acrylic shields at reception tables after requests from couples for other possible safe management measures. (Photo: Heaven’s Gift)
Still, with some receptions set to grow in size, wedding planners said couples should work with their guests to ensure adherence to the new regulations, and to brief their guests in advance on what to expect.
“Because now honestly, a lot of challenges (are having to) deal with more crowds, the idea that you don’t want to encourage too much mingling or interaction between guests,” said Ms Maxine Teo, wedding director at Heaven’s Gift.
Her team started incorporating acrylic shields into the wedding decor at dinner tables, after receiving requests from couples during the circuit breaker period for more ways to prevent the risk of COVID-19 spreading, especially among guests who may not be from the same household but are seated at the same table.
“Often, it’s not that a couple doesn’t like these regulations, sometimes it’s the guests who don’t quite understand why these have to be in place. And that’s why engagement before the event helps. At least they know what to expect,” said Ms Teo, adding that most guests are not familiar with the restrictions as they are not involved with the wedding planning.
“And so then during the event, we have to remind them, then at least to them it doesn’t come as a shock. It’s more of a gentle reminder, that we understand that celebrations are meant to be celebrated together, and the wedding is a chance for everybody to catch up,” she said.
“But at the same time, because we have to be safe, we just ask for their cooperation to just reduce the amount of mingling and such very gently, and they tend to be quite understanding about it. If anything, actually COVID-19 has allowed all of us to be a bit more understanding.”
Considering the cult fanbase that Razer has built around its brand, it’s only natural that the gaming peripheral company would hold its own major convention soon enough.
Pretty soon actually. The first-ever RazerCon will make its debut come October 10 with a grand keynote delivered by Razer’s gregarious co-founder Tan Min-Liang in his hometown, right here in Singapore.
It should go without saying that Razer’s first convention won’t be a physical event held in an exhibition centre due to obvious reasons. Instead, it’ll be a full-day digital event that will be live-streamed globally across Razer’s Twitch, Facebook, YouTube and Twitter channels, where attendees can watch Tan host a “global mixed reality” keynote with the Singapore skyline in the background.
“2020 has been a challenging year for everyone around the world, greatly limiting physical events. We see RazerCon as an opportunity to celebrate gaming and the Razer community while setting a new standard for online events,” Tan enthused.
SINGAPORE: A food court at Changi Airport and seven shopping malls were among the locations added on Tuesday (Sep 29) to the list of public places visited by COVID-19 community cases during their infectious period.
Orchis Food Court at Changi Airport Terminal 1 was visited six times between Sep 16 and Sep 25, said the Ministry of Health (MOH) in its evening update.
The seven shopping malls added to the list are Anchorpoint, Bugis+, Bugis Junction, IMM, Ngee Ann City, Queensway Shopping Centre and Tiong Bahru Plaza.
Alexandra Village Food Centre also appeared on the list in four instances, as well as three food establishments along Stirling Road: Tiong Hoe Specialty Coffee, Napshot Cafe and Stirling Food Court.
The new locations are as follows:
Those who have been identified as close contacts of confirmed cases would already have been notified by MOH.
As a precautionary measure, people who were at those locations during the specified timings should monitor their health closely for 14 days from their date of visit, said MOH.
They should see a doctor promptly if they develop symptoms of acute respiratory infection, as well as fever and loss of taste or smell, and inform the doctor of their exposure history.
The health ministry said individuals may access the SafeEntry Location Matching Self-Check service via the TraceTogether App, SingPass Mobile or at the SafeEntry website to check whether they were at these locations during the specified timings, based on their own SafeEntry records.
“There is no need to avoid places where confirmed cases of COVID-19 have been. The National Environment Agency will engage the management of affected premises to provide guidance on cleaning and disinfection,” said MOH.
The easing of Covid-19 restrictions have seen more families taking to the outdoors for recreational activities. Of the various activities possible, picking up litter, however, would perhaps be more of an unusual sight.
Such was the case of a family who was seen clearing out litter along Gangsa Road on Sunday, Sept 27, 2020.
Singapore family picks up rubbish near housing estate
“Saw a wonderful family with their children picking up rubbish around my area just now. Instilling values done right (sic),” wrote Reddit user Raftel88.
The user also uploaded a clip in the post which saw a family of five, including three young children as they held onto trash bags.
Despite society’s best attempts to move on from the Minions, the little yellow creatures from 2010’s Despicable Me have continued to persist in popularity, even a decade on.
Kids seem to like ‘em nonetheless, and McDonald’s has launched a promotional event in which rare golden versions of Minion collectibles can be found at random, packaged in capsules that come together with Happy Meals.
These aren’t real gold, mind you, just plastic ornaments in golden hues. As it turns out, the cheap figurines are being sold online at pretty inflated prices. Question is, do people really love Minions enough to splash out up to $300 for an entire set of golden plastic tchotchkes?
On online marketplace Carousell, sellers have been trying to sell off their rare finds, putting some pretty tremendous prices on the toys.
SINGAPORE: Electric vehicles (EVs) currently make up a small percentage of the cars on Singapore’s roads, but more motorists could be encouraged to make the switch to EVs if there are more charging points, said the CEO of EV charging firm Charge+.
There are several considerations for potential electric vehicle buyers, including whether the right vehicle model is available as an EV, Charge+ CEO Goh Chee Kiong told CNA.
“The key point that really dictates whether Singaporeans will buy EVs or not, is whether the EV chargers are available at their doorstep, said Mr Goh.
“The peace of mind that there’s overnight charging for the average driver in Singapore is very important.”
There has been a push in recent years to expand the electric vehicle charging network, as part of Singapore’s long-term goal to make the land transport sector more environmentally sustainable.
In line with this, he said that the Government aims to have 28,000 public EV charging points available by 2030 with help of the private sector, up from about 1,600 currently.
According to Charge+, its alternating current (AC) chargers will be the slimmest such devices commercially once they are available.
“We are aiming for the final design to be less than 15cm,” said Mr Goh, who was previously with utilities provider SP Group as its energies CEO.
This “ultra slim” design will allow its chargers to meet the physical constraints posed by many existing car parks here, said Charge+ chairman Ong Tze Boon.
Keeping its chargers compact will also allow for them to be introduced in other similarly dense cities across Asia where parking is tight, said Mr Goh.
(From left to right) Charge+ finance director Mr Lawrence Wu, chairman Mr Ong Tze Boon, Charge+ director and Sunseap chief executive officer (CEO) Mr Frank Phuan, and Charge+ CEO Mr Goh Chee Kiong. (Photo: Charge+)
With a limited number of electric car models available on the market and EVs typically costing about 30 per cent more than their petrol equivalents, electric cars currently make up only about 0.2 per cent of Singapore’s total car population.
Still, the company’s aim of providing 10,000 charging points across Singapore within the next decade proves that Charge+ is bullish about the prospects for EVs here, said Mr Goh.
“Charge+ can’t do anything about the cost of EVs … we can’t do anything about the number of models available in Singapore. But Charge+ can do much more in terms of building a lot of infrastructure ahead of time, so that we give (prospective) EV drivers the peace of mind to choose EVs,” he said.
There will be “explosive growth” in the number of EV models available in the coming years, he said, adding that EV prices will drop as battery prices continue to decrease.
Mr Goh added that the company expects to begin rolling out its chargers in the first quarter of next year.
Charging rates have not yet been finalised, he added, although he noted that the cost of charging an EV is about one-third that of refuelling a petrol vehicle.
Addressing concerns that a switch to EVs would merely transfer the source of pollution from vehicle tailpipes to power plants, Mr Goh said converting fossil fuels to electricity for vehicles would still result in a “hefty 50 per cent carbon emissions reduction”.
Sunseap’s background in solar energy also points to the possibility of transportation becoming even cleaner, said Mr Ong.
“Our mobility proposal is that the car is green, but the power supply is also going to be green. Maybe not overnight, a hundred per cent (of the power coming from solar), but we are making an effort to contribute to a green mobility solution,” he added.
Last month the Straits Times reported that South Korean automaker Hyundai would manufacture EVs at a facility in Singapore beginning in 2022.
“Potentially there can be synergies between car sellers, car dealers and Charge+,” said Mr Goh.
“That’s something that, broadly speaking, we are interested to pursue, to have partnerships with car dealers, car OEMs (original equipment manufacturers).”
Larry Fink, Chief Executive Officer of BlackRock, takes part in the Yahoo Finance All Markets Summit in New York, U.S., Feb 8, 2017. (File photo: REUTERS/Lucas Jackson)
Smoke and steam billows from the coal-fired power plant owned by Indonesia Power, next to an area for Java 9 and 10 Coal-Fired Steam Power Plant Project in Suralaya, Banten province, Indonesia, Jul 11, 2020. (Photo: REUTERS/Willy Kurniawan)
Artist impression of the upcoming 60MWp floating solar system on Tengeh Reservoir. (Photo: PUB/Sembcorp)
