Daily Briefing: HDB unveils $500,000 projects fund; Singapore 4th priciest prime logistics market worldwide

And how DBS, StanChart’s finance distributed ledger works.

The Housing and Development Board (HDB) is setting aside $500,000 in funding over a five-year period, to encourage residents to initiate projects that can help build greater cohesion and community spirit in public housing estates. Read more here.

Singapore was ranked 4th in the world’s most expensive place to rent prime logistics space last year, according to the latest report from CBRE. As of Q4 2015, annual prime logistics rents in the city-state stood at US$10.91 per sq ft, behind Hong Kong (US$ $28.94), Tokyo (US$16.74) and Shanghai (US$16.36). Read more here.

Standard Chartered Plc and DBS Group Holdings Ltd. developed and tested a distributed ledger late last year that may offer a solution to the risk of multiple-invoice fraud faced by the largest trade-finance banks. Read more here.