Daily Briefing: Grab reverses plan to cease driver incentives; Kimly acquires food outlets for $55.8m

And Bukit Sembawang Estates sold 64% of units of Luxus Hills Contemporary Collection.

From Bloomberg:

Ride-hailing firm Grab reversed its decision to cease a driver incentive programme in Singapore following a backlash from drivers who are worried about their earnings during the coronavirus outbreak.

The move comes after Grab unexpectedly told its driver partners it would replace existing incentive programmes with a new government-backed virus aid package.

Grab’s “Super Steady Streak” programme has been popular with drivers because it gives financial rewards to those who recorded at least 200 trips over a number of months.

 “We have heard their feedback about the Super Steady Programme and will continue it”, said a Grab spokesperson.

Read more here. 

From DealstreetAsia:

Jin Wei Food Holdings, the wholly-owned subsidiary of F&B firmKimly Limited, is acquiring a portfolio of food outlet properties for more than $55.8m (US$39.9m).

The assets include four coffee shops and three industrial canteen and restaurant units, located either within mature HDB (Housing and Development Board) estates or populated industrial areas

Kimly has also recently expanded a central kitchen and started to offer Dim Sum and Seafood Zi Char products for online ordering

Read more here. 

From iCompareLoan:

Bukit Sembawang Estates Limited (BSEL) has sold more than 64%, or 25 units, of its highly-anticipated final phase of its landed development Luxus Hills Contemporary Collection.

The Luxus Hills Collection comprised of 39 exclusive landed homes for immediate occupancy.

Contemporary Collection homes sold span inter-terraces, corner terraces, semi-detached houses and a villa. With prices ranging from $3.29m for Inter-terraces at an average selling price of $2,060 psf on land.

Strong interest came from many buyers who had earlier expressed interest in the previous phase of the development, the Luxus Hills (Signature Collection) in 2019.

Read more here.