Daily Briefing: DBS complied with rules on 2016 Hyflux bond sale: MAS; Singapore and Malaysia to replace withdrawn ILS with GPS procedures for Seletar Airport

And here's how FastGo has compromised the identities of its early sign-ups.

From Bloomberg:

Singapore’s financial regulator said it hasn’t uncovered any impropriety by DBS Group Holdings Ltd. in arranging the sale of securities by troubled Singaporean water and power company Hyflux Ltd. in 2016.

DBS has complied with regulatory requirements as both manager and distributor of the perpetual securities, the Monetary Authority of Singapore said Monday in a reply to Bloomberg questions.

“As the issue manager, DBS conducted due diligence checks to ensure that material information relating to Hyflux was highlighted in the offering document,” the MAS said. Whilst distributing the bonds via its automatic-teller machines, the bank also reminded investors to read the disclosure documents before making their applications, the regulator added.

DBS adheres to all guidelines and regulatory requirements with any bond taken to market, including processes to comply with disclosure requirements, the company said in an emailed comment.

Read more here. 

From Channel News Asia:

Civil aviation authorities from Singapore and Malaysia will work together to develop GPS-based instrument approach procedures for Seletar Airport, replacing the Instrument Landing System (ILS) procedures which were recently withdrawn, according to the transport ministers from both countries.

“We will introduce GPS-based instrument approaches from both the north over Pasir Gudang and south over Singapore island,” said Singapore’s Minister for Transport Khaw Boon Wan.

The move comes after both countries reached an agreement on airspace issues following Singapore's withdrawal of ILS procedures for Seletar Airport and Malaysia indefinite suspension of its permanent restricted area over Pasir Gudang.

The agreement paves the way for Malaysian budget airline Firefly to resume operations. Its flights to Singapore were suspended last December, after it was unable to obtain approval from Malaysia’s aviation regulator to move its operations from Changi Airport to Seletar Airport.

Read more here. 

From e27:

FastGo, Vietnam-based new ride-hailing company, accidentally revealed the personal email addresses of 300 drivers right after it sent an email reminder to drivers, urging them to complete the drivers’ signup by submitting documents on last Monday, April 1.

In the email, FastGo Singapore put the email address on the “To” field, instead of the usual Blind Carbon Copy (“Bcc”) for confidentiality. All the email recipients then can see other email addresses.

“It is an important lesson for us to learn about the issue, we promise no more mistakes will happen again as it’s affected about 300 drivers that signed up with us,” said Diep Nguyen, FastGo Singapore country manager.

Read more here.