Daily Briefing: Temasek Trust launches $10m COVID-19 assistance fund; SMRT extends full rental waiver for taxis

And Singapore launches its first drone delivery service.

From DealStreetAsia:

Temasek Trust, the philanthropic arm of Temasek Holdings, has launched a new oscar@sg fund, a $10m subsidy that seeks to support communities hit by the coronavirus pandemic, according to an announcement.

The fund will support ground-up initiatives that respond to community needs in Singapore as a result of the COVID-19 pandemic.

It will provide up to $5,000 of direct sponsorship and further match dollar-for-dollar of third-party funding sources of up to $50,000, with a provision to increase up to $100,000 in exceptional cases.

Individuals or groups can apply for the grant as well as non-profit organisations registered with the Accounting and Corporate Regulatory Authority or the Registry of societies.

The oscar@sg fund has already attracted donations from corporate partners and individual philanthropists such as Pavillion Capital and ABC World Asia.

Read more here.

From Channel News Asia:

Singapore Mass Rapid Transit (SMRT) will extend its full rental waiver for taxis until 1 June, according to an announcement. It aimsbids to help its taxi partners to cushion the financial impact as a result of the extended circuit breaker period.

The move will cost the company an additional $6m, bringing its total support for taxi drivers to about $20m.

SMRT gave drivers a $55 daily rental rebate in April, which included $10 from the Government’s Special Relief Fund, to help them cope with the decline in demand due to the enhanced COVID-19 measures.

SMRT also expanded its collaborations with food and beverage operators to provide jobs for drivers affected by the tightened measures.

Read more here. 

From Channel News Asia:

Singapore's first drone delivery service has begun by taking vitamins to a ship, according to its operator. The devices are said to be crucial in reducing human contact during the COVID-19 pandemic.

The use of drones is part of the city-state's drive to embrace technological innovation, as well as an effort to tackle a manpower shortage in the country.

F-drones, the company behind the service, said it plans to develop drones that can deliver 100 kilos over distances of 100 km to ships and offshore platforms by H2 2021.

Singapore's civil aviation authority has got behind the use of drones, and is working with industry players as it seeks to shape regulation for the sector.

Read more here.