Daily Briefing: All travellers to be tested before stay-home notice ends; Companies advised to transform business models

And Beenext launches $152.99m fund for early-stage startups.

From Channel News Asia:

All travellers entering Singapore from 11.59 pm on 17 June will be tested for COVID-19 before the end of their stay-home notice, according to the Ministry of Health (MOH)

The test will be scheduled a few days before the end of the 14-day stay-home notice period, at an allotted testing facility. Each person under a stay-home notice will receive information on the scheduled appointment slot and venue via an SMS notification.

“It is an additional precautionary measure to detect the virus, especially given the risks of asymptomatic cases,” MOH said. “We will monitor the results of these tests and may make adjustments to the testing requirements over time.”

The individuals will have to travel from their place of residence to the designated testing facility, and return back immediately after the test, using their own private vehicle or designated transport, and avoid public transport.​​​​​​​

Read more here. 

From Channel News Asia:

Businesses should look to transform their business models even as Singapore progressively reopens, according to Minister for Trade and Industry Chan Chun Sing.

This comes as Singapore moves into the second phase of its post-circuit breaker period with businesses concerned on how they can reopen safely and in a sustainable way.

Chan assured that they will be helping the businesses to see how they transform some of their business models especially in the coming third phase.

His comments came a day after it was announced Singapore would enter Phase 2 of its reopening, which would allow for retail outlets to reopen and eateries to accept dine-in customers.

Chan spoke to reporters following a visit to a call centre at Tai Seng Avenue, set up by the Trade and Industry Ministry and Enterprise Singapore (ESG) to address questions from businesses on adapting to measures set up to curb the spread of COVID-19.

Read more here. 

From e27:

Singapore-based VC firm Beenext has closed a $152.99m (US$110m) fund, which will be focused on empowering early-stage startups and founders in India and Southeast Asia, according to an announcement.

The newly-launched fund, called Beenext Emerging Asia Fund, aims to back startups in the e-commerce, fintech, healthtech, agritech, edutech and AI/data-driven technology domains. This marks VC company’s four4th consecutive fund focused on the emerging markets in Asia.

About 50% of the fund will be allocated for the Indian startup ecosystem.

Additionally, the VC firm has announced the closing of a $69.54m (US$50) fund, which will be exclusively invested in SaaS businesses in Japan to accelerate digital transformation in each industry.

The backers of these two funds include major institutional investors in the US, along with Japanese corporations, global family offices and entrepreneurs.

Read more here.