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Brunei’s legacy planning startup Memori raises US$100k funding

e27
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Brunei’s legacy planning startup Memori raises US$100k funding

The startup offers a legacy planning service and plans to launch its platform next month

Brunei-based legacy planning startup Memori reportedly raised BND 158,000 (US$ 100,000) from 113 Venture Growth Fund despite having yet to launch its online platform. This marks one of Brunei’s largest seed rounds investment in a startup to date, as reported by Bizbrunei.

Memori plans to become an all-in-one online platform to manage legacy, from the convenience of securing wills, insurance policies, and memorial services.

With the funding, Memori wants to grow in Brunei, Singapore and Malaysia, where an estimated 33 million adults do not have wills.

“We’re looking to simplify and make the whole process of preparing for one’s death an affordable thing. Death is such a universal matter but ironically expensive and difficult to navigate,” said CEO and co-founder of Memori Queenie Chong, who got the idea for Memori after experiencing the loss of her grandparents.

Also Read: Singapore Foodie channel’s Malaysian parent raises funding for expansion

Chong, being a certified will planner, still found that the experience was a difficult one. “It can be extremely frustrating when you don’t know where to go or what to do after the loss,” said the .30-year-old Bruneian.

Chong then founded Memori just in August this year and then brought along COO Jonathan Tan and CBO Phoebe Kow, who are also certified will planners.

According to Chong, an estimated 80 per cent of Southeast Asia’s population do not have wills due to a social taboo that makes it an uncomfortable thing to talk about end of life. Another cause noted by the company is the misconception about the complexity and cost of the legacy process.

“Our technology seeks to address this issue. Thanks to social media, there is now the ability to control our digital footprint,” said Chong.

Memori provides will writing services directly, and soon will facilitate customers with a consult and connection to a range of bereavement-related services, such as arrangements for funerals, burials, and caskets as well as buying insurance policies.

In doing its business, Memori also takes advantage of blockchain technology, that will be used to build its website. The technology will enable users to safely store their digital assets – including social media and email accounts passwords – and pre-select the beneficiaries when a user passes on.

“Memori certainly has the potential to be Brunei’s first tech Unicorn because it is disruptive and a game changer,” said Tan Chun Wei, a founding partner of 113 Venture who’s also the district service director of Nirvana Asia Group – Asia’s largest bereavement care provider.

Also Read: Indian food delivery startup Swiggy raises US$1B investment led by Naspers

As of now, Memori is a participant of the ongoing fourth cycle of DARe’s Startup Bootcamp facilitated by Singapore-based Golden Equator.
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The post Brunei’s legacy planning startup Memori raises US$100k funding appeared first on e27.

Source: E27

It’s official: Kopitiam is now the property of NTUC Enterprise

The Independent
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It’s official: Kopitiam is now the property of NTUC Enterprise

Singapore – What started out as plans on September 21 became official today, as NTUC Enterprise now has the green light to acquire Kopitiam.

NTUC Enterprise, who is also the largest shareholder of NTUC Social Enterprises, holds NTUC Foodfare which means that their portfolio includes the management of 14 food courts, 10 coffee shops, and 9 hawker centres. On the other hand, the one giving up the reins, Kopitiam, has 56 food courts, 21 coffee shops, and 3 hawker centres.

All of these food establishments under one umbrella sparks concerns amongst Singaporeans of a possible monopolisation, much the like recent Grab acquisition of Uber operations. However, the Competition and Consumer Commission of Singapore (CCCS) has assured the public that a study was made on the three markets, food courts, coffee shops, and hawker centres, and said that there will be no effect leading to the decrease in competition because of this merger.

Photo: YouTube screengrab

The study conducted by CCCS showed that there will be minimal amounts of cooked food being sold within a 500m area that is operating and owned by NTUC Enterprises and Kopitiam, meaning a lot of the stalls in a given space are still operated by third party vendors. Furthermore, CCCS found no cause for concern when it comes to management specifics of hawker centres, such as rental rates and bargaining power, because both parties only own 12 hawker centres out of the 114 currently operating in the country.

As for the rentals rates on coffee shops and food courts, it was assessed that the market share of the two will only be around 30-40% and that a majority will still be held by others such as Koufu, Food Republic, Food Junction, Broadway and Kimly, therefore, no drastic changes are expected to occur. These findings were reiterated by CCCS to ensure no monopolisation were to happen and that competition will remain strong because of this union.

As for how much was paid to Kopitiam Investments for the purchase, the sum remains undisclosed. It is said that the transaction will be final and completed during the first month of the following year.

Both parties will continue to operate as separate entities with their current management remaining intact and business will proceed as normal.

The people’s responses to such news, however, are not pleased. The public seems disillusioned and unsatisfied with the flow of the current events. Some of the responses have been captured below:

Photo: Facebook screengrab
Photo: Facebook screengrab
Photo: Facebook screengrab
Photo: Facebook screengrab

Ho Ching concurs as Bilahari Kausikan weighs in on how China can learn from Singapore

Obbana Rajah
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Ho Ching concurs as Bilahari Kausikan weighs in on how China can learn from Singapore

Former Singaporean diplomat Bilahari Kausikan, who is not shy about airing his views on social media, took to Facebook earlier today to weigh in on how China can learn from Singapore.

Mr Bilahari shared an article published on the South China Morning Post titled, ‘Even after 40 years, China can still learn from Singapore’. One point the article touched on was how China has a majority ethnic population, just like Singapore.

Hi post was ‘liked’ and ‘shared’ by Ho Ching, the Chief Executive Officer (CEO) of Temasek Holdings.

In his post, Mr Bilahari pointed out that, “One issue — not mentioned in this article — that China can learn is how Singapore has managed its Muslim community.as compared to what is happening in Xinjiang and elsewhere”.

https://www.facebook.com/bilahari.kausikan/posts/2264179980506085

He added, “Indeed, if you did not know Singapore, you could read this article without learning that Singapore is multiracial. And yet the author has lived and worked in Singapore for many years and the management of multiracialism is the foundation of everything else. This blind-spot is shared by many Chinese”.

The wife of Prime Minister Lee Hsien Loong, Mdm Ho Ching, however, chose to touch on a different aspect of Singapore.

She, who is rather active on Facebook, yet rarely adds commentary to her posts, said, “One of SG’s strengths is the openness to new ideas, and to be open minded, and learn and adapt from all over the world. One of SG’s weaknesses is a lack of self confidence to be bolder in welcoming the new”.

She continued, “It’s like the fine balance between genius and madness – the tension is always there – but we should be mindful that as we live longer, that we don’t over tilt towards old thinking versus freshness of youth and the young”.

https://www.facebook.com/permalink.php?story_fbid=1002053379982496&id=100005335308340

Many netizens weighed in on the issue as well, some agreeing, others saying that the comparison between the two countries was not entirely a fair one.

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Delayed flight due to technical errors left numerous Singaporeans hungry and frustrated

Gemma Iso
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Delayed flight due to technical errors left numerous Singaporeans hungry and frustrated

Several Singaporean families were left confused, frustrated and hungry when they got stranded at Athens International Airport. The passengers were bound for Singapore via Scoot flight TR713 scheduled to depart on Dec 18 at 1120hrs. By December 19, the Singaporean travelers were still stuck inside the airport for more than 24 hours.

A technical issue had the Singaporean passengers, including 321 other travelers, get on and get off the aircraft many times. The Scoot flight was originally slated to leave Athens at 11:20 am local time on December 18.

In a statement, Scoot authorities said the passengers were initially requested to disembark the Boeing 787 after it took longer than expected to resolve “operational considerations arising from equipment limitations.”

As soon as the issue was resolved, passengers got on the plane again only to be asked to get off for the second time because the “operating crew’s flight time limits unfortunately ran out.”

This required a grounding of the aircraft with a re-scheduled departure at 11am local time on Dec 19. Within the waiting period though, hotel accommodation and meals were provided to the passengers.

Unluckily, when the passengers returned and the re-scheduled flight was preparing for departure, Scoot was informed that flight approval has been withdrawn.

Because of the new development, passengers had to again disembark from the aircraft. Scoot authorities finally decided to take a ferry flight from Singapore to Athens to fetch affected TR713 passengers back to Singapore.

“Scoot sincerely apologizes for this extended flight disruption and the inconvenience it had caused to customers’ travel plans,” Scoot authorities said. “Affected customers can opt for a refund via vouchers or to their mode of payment, if they prefer not to continue their travel with Scoot. Customers who choose to continue their journey with Scoot will be compensated based on our Guest Promise.”

High praise for Low Thia Khiang and Faisal Manap after Kaki Bukit Christmas event

Obbana Rajah
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High praise for Low Thia Khiang and Faisal Manap after Kaki Bukit Christmas event

Workers’ Party Members of Parliament (MPs) MPs Low Thia Khiang and Faisal Manap received high praise from many Singaporeans after a celebratory Christmas Cluster event at Kaki Bukit Division.

The event took place on Tuesday, December 18, where residents of Kaki Bukit got to mingle and speak to the two MPs.

Photo: Facebook / Aljunied GRC

However, missing from the scene were two other prominent WP MPs, Pritam Singh and Sylvia Lim.

A post on the Facebook page of Aljunied GRC also added that the event was organized and hosted by One Blue Heart Community volunteers.

The post also shared many photos taken at the event, most of which saw Mr Low and Mr Faisal deeply engaged in conversation with residents.

https://www.facebook.com/aljuniedcommunity/posts/2089820414412495?__xts__[0]=68.ARDCuP7Y6T5LoI3QS7yuzNIzKyAaHIppAHdj5QM0XBl3gZH87TR9-RzIgb46Y2CtF1Tja2WWGRVGJM8BU5d7HsgeFFNzJgjY3AYnwKHjzh1c-7oXIC96rO8fPJe1Yx7kULZJjGAMchaq218cZfkwpfuTqAUu9g9YyUbihcCuBMBwM2VZdLJP4IWrz4iPLGeXs_9AMIHwJ5euirB8H9LMBMG4uYQOKsgz14aDqbLGA0XUNvcHzaLTapg3D2CP62LxnZQhYppl1s-8M6o7BM_KG_yX824AXzUPFLA6XhweD5EoWcyV4CoGpsgekgUIBcd1O-61yJ5B-s9AM8qv4lvHRh_7xw&__tn__=-R

The full post read: MPs Low Thia Khiang & Faisal Manap rekindle familiar bonds with Kaki Bukit residents, amidst festivities & cheer.

What better time to listen, chat & chill over Christmas turkey & log cakes than the festive season itself? Sharing wishes & aspirations. Enjoying the hospitality of One Blue Heart Community volunteers who happen to live right next door. And looking forward to the new year together.

Happy holidays everyone. And to all Christians, have a Blessed Christmas.

 

With almost 300 reactions, many netizens conveyed sentiments of encouragement and praise to the two MPs, and to the Workers’ Party in general. The post by Aljunied GRC was also picked up and shared on various other Facebook pages and groups.

________________________________________________________________________

[email protected]

Indian food delivery startup Swiggy raises US$1B investment led by Naspers

e27
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Indian food delivery startup Swiggy raises US$1B investment led by Naspers

Swiggy’s latest fundraising round is the single largest in India’s food technology sector to date

Swiggy, India’s leading food delivery platform, announced today that it has executed definitive agreements for a US$1 billion Series H round of funding, led by existing investor Naspers, a global internet and entertainment group.

The round also includes participation from several existing investors, including DST Global, Meituan Dianping and Coatue Management, along with new investors Tencent, Hillhouse Capital and Wellington Management Company.

Also Read: Singapore Foodie channel’s Malaysian parent raises funding for expansion

Swiggy’s latest fundraising round is the single largest in India’s food technology sector to date. With this, its total funding raised so far has touched US$1.26 billion.

The Bangalore-based startup said in a statement that it will use the funds to bring more quality food brands closer to consumers and address gaps in supply through delivery-only kitchens under the ‘Access’ initiative for restaurant partners.

Additionally, it will hire top-notch talent, especially for Machine Learning and engineering roles across mid and senior levels. The company will further strengthen its technology backbone and focus on building a next-generation AI-driven platform for hyperlocal discovery and on-demand delivery.

“Swiggy has been at the forefront of elevating the potential of Indian food delivery with its industry-changing innovations and focus on delivering the best consumer experience to millions of Indians,” said Sriharsha Majety, CEO, Swiggy. “As we add more firepower to our vision of elevating quality of life for urban consumers by offering unparalleled convenience, we’re pleased that visionary global investors share our purpose and have made such a significant investment in our future.”

“We first partnered with Swiggy in April 2017 because we recognised the Swiggy team had built a sustainable, long-term business, that stood out amongst others in India. Now, nearly two years later, we have even more confidence Swiggy has the winning formula and will continue to build a leading business in the country” said Larry Illg, CEO, Food and Ventures, Naspers.

“Swiggy has 10x the number of orders per month since our first investment, has expanded throughout India to tier 1, 2 and 3 cities, and most importantly, is the most loved food delivery brand in India, providing the best service to consumers nationwide,” he added.

Founded in 2014, Swiggy has over 50,000 restaurant partners spread across 50-plus cities. Since the last funding round six months ago, Swiggy has expanded to 42 additional cities and doubled in gross merchandise value as it strengthened its leading market share along with industry-best repeat rates and net promoter score.

In May 2017, Swiggy raised US$80 million led by Naspers, with participation from existing investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners.

 

 

The post Indian food delivery startup Swiggy raises US$1B investment led by Naspers appeared first on e27.

Source: E27

Singaporeans riled up over a “costly” cup of iced ‘Milo Elephant’ worth $2.70

Obbana Rajah
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Singaporeans riled up over a “costly” cup of iced ‘Milo Elephant’ worth $2.70

One of the many things that gets Singaporeans riled up is the price of food at coffee shops and hawker centres. A huge debate ensued among netizens over the price of a large cup of iced milo that cost $2.70.

Earlier this week, netizen Raymond Seow took to Facebook to gripe about how the food he bought is “Damn expensive nowadays!!!”

Raymond’s post was shred to a public Facebook group titled, ‘Singapore Taxi Driver’.

At the coffee shop at Block 820 Tampines Street 51, he bought a cup of iced milo for $2.70, and a plate of chicken biryani for $6.50.

According to reporters who visited the stall, the stall assistant said that customers who order iced Milo are usually served the upsized version, also known as ‘Milo Gajah’, or ‘Milo Elephant’.

Raymond’s post sparked a huge debate online amongst netizens, who said that $2.70 for the cup of iced Milo was an exorbitant price.

Many also were worried that if a sugar tax was implemented in future, then that might cause prices to go up even further.

The cup of iced Milo was even compared to drinking Bird’s Nest, a drink typically considered to be a delicacy.

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[email protected]

Desmond Lee warns that gay couples seeking to adopt may find it harder to convince courts after this week’s landmark decision

Anna Maria Romero
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Desmond Lee warns that gay couples seeking to adopt may find it harder to convince courts after this week’s landmark decision

History was made this week through a landmark decision wherein Singapore’s High Court allowed a doctor to adopt his biological son who had been conceived through a surrogate in the United States. The young boy is now five years old.

However, on the heels of this decision Desmond Lee, the country’s Social and Family Development Minister, said that in the future, it might become harder for gay couples who want to adopt a child to use the argument that they did not deliberately intend to violate the nation’s policies.

Lee released a press statement on Wednesday, saying “concerns have been raised about the implications of this case and whether it sets a precedent for the formation of same-sex families in Singapore”.

Chief Justice Sundaresh Menon had said that while allowing the adoption would “violate the public policy against the formation of same-sex family units,” the child’s wellbeing and needs superseded this concern.

The decision of the High Court been “based on the particular facts of this case” and Lee emphasized that the three judges who sat on the panel that made the decision saw a lack of proof that the boy’s father had intended to go against the policy on purpose.

He said, “After the publication of this judgment since the courts have recognized that the adoption violates the public policy against the formation of same-sex family units, it may be harder for future applicants doing the same to argue that they did not intentionally set out to do so.”

The Ministry of Social and Family Development (MSF) is set to go over the grounds of the High Courts decision. Furthermore, Lee said the MSF would “review our adoption laws and related policies, to see if they should be amended and further strengthened.”

However, while he said “LGBT persons have a place in Singapore society,” but “at the same time, the Government supports and encourages parenthood within marriage, and does not support the formation of same-sex family units. This is the position that MSF takes in assessing adoption applications. The High Court has recognized that this public policy is a relevant consideration in adoption proceedings.”

Read related: Family’s Future Is Uncertain in Singapore’s Gay Surrogacy Adoption Case

https://theindependent.sg.sg/familys-future-is-uncertain-in-singapores-gay-surrogacy-adoption-case/

Not so old after all, elderly woman finally arrested after stealing $3,000 from vegetable stalls at Marine Terrace Market

The Independent
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Not so old after all, elderly woman finally arrested after stealing $3,000 from vegetable stalls at Marine Terrace Market

Singapore – During the last two months, several vegetable stalls at the Marine Terrace Market have been experiencing some loss in sales not due to a dwindling clientele but because of some sneaky hands grabbing their hard-earned money right out of their cash boxes.

One stall that is operated by 3 brothers has experienced this magic act of their cash disappearing at least 5 times in the last 8 weeks. In hopes of catching the thief, the owners have set up CCTV cameras at the stall. Based on their reports, the show happens between 8 am and 10 am which just so happens to be the busiest time for a vegetable vendor in a market. They believe that the thief maximizes this opportunity and attacks when the owners are busy tending to customers.

Photo: YouTube screengrab

It just so happens that the brothers have a designated basket in which they individually put their sales into and that basket served as the target of the thief. Around $100-$200 were stolen at a time making them lose around $1000 in total.

Another stall, owned by a couple, have also shared their experiences with this robber. It was only last Thursday (Dec. 13) that they were surprised to see their money container empty when it should have more than $1000 in it.

Stall owners are learning and becoming more vigilant which is why others are keeping their cash in fanny packs that they always have on with them.

The suspect? It was only yesterday, December 19, that police have arrested a 64-year old woman who is suspected to be the culprit related to the recent events. Investigations are currently being held by the police regarding this case.

Leave it to the Internet to garner very diverse views and opinions such as that of Lee Chee Seng who thinks that the stolen money should just be considered charity in this case, given that the culprit was a senior citizen.

Photo: Facebook screengrab

ICA pins blame for heavy Causeway traffic on a bomb hoax, car breakdowns, and queue-cutting

Anna Maria Romero
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ICA pins blame for heavy Causeway traffic on a bomb hoax, car breakdowns, and queue-cutting

The Immigration and Checkpoints Authority (ICA) said via a press release on Wednesday, December 19, that the horrific congestion experienced by motorists driving on the Causeway on December 14 and again on the 16th was due to a bomb hoax, vehicle breakdowns and numerous cars jumping queues.

According to the ICA, these circumstances combined to cause major traffic in both directions.

Additionally, the Authority also said that traffic is generally heavier than usual at this time of the year because the beginning of school holidays and year-end festivities mean more people traversing the Woodlands and Tuas Checkpoints.

The situation is not likely to let up anytime in the recent future, as the ICA expects congestion to continue until the end of 2018.

However, the ICA showed that it is taking a pro-active stance toward easing congestion through more speedy clearances in both Tuas and Woodlands Checkpoints by doing real-time monitoring of outgoing and incoming traffic, thus adopting an approach to traffic management that is truly “multi-pronged.”

“This includes cross-deployment of officers and flexible use of lanes for clearance of conveyances,” ICA said in the press release.

“We would like to assure travelers that our officers are working round the clock and doing their utmost to ensure that travelers’ needs continue to be met without compromising security.

During this peak period, ICA officers have put in many overtime hours. All our available resources are being used.”

However, the press release also said that specific counters may be closed at different portions of the dar, due to redeployment of officers to other high traffic areas or shift changes.

ICA posts traffic advisories in its Facebook page, as well as on Expressway Monitoring & Advisory System (EMAS) installed along BKE and AYE and has told motorists to check these before travel for their utmost convenience.

Read related: Johor also affected by heavy traffic because of stricter ICA checks at Woodlands and the Second Link

https://theindependent.sg.sg/johor-also-affected-by-heavy-traffic-because-of-stricter-ica-checks-at-woodlands-and-the-second-link/

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