TL;DR

Who: Advertising Standards Authority of Singapore, Queensway Shopping Centre, Enterprise Singapore

Weekly Business Brief | 2019 Week 18

Wrapping up the week's business news and announcements.

SBO Singapore Weekly Business Brief
Published:   |   Updated:   |   Posted in

Beauty, restaurant ads attract most complaints in 2018

“Advertisers should ensure the information on their promotional materials is clear, accurate and up-to-date, and this extends to prices and terms and conditions,” ASAS said.

The Advertising Standards Authority of Singapore (ASAS) on Tuesday (Apr 30) said it received 19 instances of feedback about beauty-related advertisements in 2018, making it the most complained about industry for the year.

Restaurant advertisements came next, with 18 complaints. ASAS received 218 instances of feedback last year, mostly about advertisements deemed to be misleading.

Most of the feedback for the beauty industry, which includes beauty and slimming treatments, involved claims about hair loss treatments that complainants felt were misleading, ASAS said.

Complaints about restaurant advertisements also increased in 2018, mostly involving matters such as price and discount discrepancies or a lack in clarity in descriptions of items in menus and in promotional materials.

“Advertisers should ensure the information on their promotional materials is clear, accurate and up-to-date, and this extends to prices and terms and conditions,” ASAS said.

Read more on this Channel Newsasia report.

Some shop owners resistant over Queensway Shopping Centre en bloc

A number of shop owners at Queensway Shopping Centre have banded together to resist the proposed collective sale of the 45-year-old development, even as residents at the adjacent housing apartment Queensway Tower seem geared up for a sale.

About 50 shops, which “represent over 20 per cent share value” of the property, have put their signatures down to oppose a deal, said shop owner Mrs L C Lim.

Read more on this Channel NewsAsia report.

Singapore houses more than 150 venture capital funds

the city-state now home to more than 150 venture capital funds.

Singapore’s effort to create an ecosystem to support startups is gaining ground, with the city-state now home to more than 150 venture capital funds.

L’Oreal SA, Microsoft Corp. and Oracle Corp. are among more than 100 entities running incubator and accelerator programs, according to Enterprise Singapore, the government agency spearheading enterprise development. Venture funding has increased to $10.5 billion in 2018 from $800 million in 2012, according to data from PitchBook.

Read more on this Bloomberg report.


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