Daily Briefing: Government builds town testing driverless buses; Singapore accepts new wage guidelines

And here's why e-commerce startup Carousell's grateful it rejected an earlier $100m offer then.

From Bloomberg:

In the race to deploy driverless public transport, Singapore has built a mini town that could vault it into pole position. The 2-hectare complex, unveiled in November, has intersections, traffic lights, bus stops and pedestrian crossings, all built to the specifications that Singapore uses for its public roads. There’s a mini hill to check how vehicle sensors perform when they can’t see directly ahead, mock skyscrapers to mimic the radio interference from tall buildings and a rain machine to simulate the island’s frequent tropical downpours.

Read more here. 

From HumanResourcesOnline: 

The government has accepted the National Wages Council (NWC) Guidelines for 2018/2019. A media release by the Ministry of Manpower noted the government welcomes strong involvement from employers and unions in operationalising the 23 Industry Transformation Maps.

“Companies should also make use of available Government support, such as the Lean Enterprise Development Scheme, to redesign jobs and transform toward higher productivity. This is needed for wage growth to be sustainable and for the economy to stay competitive,” it stated.

Read more here. 

From Bloomberg:

A few years ago, Quek Siu Rui huddled with the board of his Singapore startup to consider whether to sell. Quek was only 26 and the $100 million offer would have made him wealthy beyond his dreams. But he said no: He wanted to keep building the business.

Good call. Quek’s company, an app for selling used goods called Carousell, is now valued at about $500 million, according to a person familiar with the matter. The CEO doesn’t regret his choice. “This is a once-in-a-lifetime opportunity,’’ Quek said in an interview. “We want to build an enduring company.’’ Carousell now operates in seven markets includin Singapore, Hong Kong and Australia and is one of the region's most popular virtual flea markets.

Read more here.  

Photo from NTU