Daily Briefing: RedMart temporarily suspends new orders; TNB Aura launches fund to back struggling startups

And jail and fines were imposed for employers who refuse work from home.

From Channel News Asia:

RedMart will be suspending new orders for 2 days amid a surge in orders due to COVID-19 concerns.

The online grocer said it has implemented several measures to handle the increased demand during this time, including temporarily reducing the range of products available, and prioritising daily necessities

In addition, RedMart will also be limiting orders to 35 items and bar customers from adding items once the order is placed. Orders that exceed 100kg may also be cancelled.

RedMart assured the customers that those who have already placed orders will still be able to receive them.

Read more here. https://www.channelnewsasia.com/news/singapore/redmart-suspends-new-orders-demand-covid-19-coronavirus-12601344

From DealStreetAsia:

TNB Aura launched a new special situations fund amounting to $2.86m per cheque, according to a statement. The fund aims to help tech companies impacted by the pandemic through extending their runway by 12-18 months.

The venture capital firm said it is open to a range of funding structures, including convertible notes and direct equity. The special situations strategy may also be extended depending on market conditions.

The firm, which focuses on Series A and B technology investments, has already allocated more than 70% of its maiden fund.

Read more here. https://www.dealstreetasia.com/stories/tnb-aura-special-situations-fund-182563/

From Channel News Asia:

Employers who do not make facilities available for members of staff to work from home could be jailed or fined, under changes to the Infectious Diseases Act.

The government will take a measured approach to enforcing the penalties by first looking at the firm's specific circumstances. Anyone who is found guilty of not following the measures can be fined up to $10,000, jailed for up to six months or both.

The act lays out penalties for employers who are not implementing safe distancing measures at work, amongst others.

The flexible work arrangements aims to avoid or minimise physical interaction between workers from different groups to curb the spread of COVID-19.

Read more here. https://www.channelnewsasia.com/news/singapore/covid-19-work-from-home-singapore-jail-fines-coronavirus-12602224