TL;DR

Who: Cycle & Carriage, Go-Jek, OCBC, Sephora and SMRT

Weekly Business Brief | 2019 Week 31

Wrapping up the week's business news and announcements.

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

Cycle & Carriage enters car rental business in Singapore, forms partnership with Go-Jek

It will also lease and manage fleets of cars for corporate clients and ride-sharing industry players, starting with a partnership with ride-hailing operator Go-Jek…

Cycle & Carriage Singapore said on Thursday (Jul 25) it has expanded into the car leasing segment, in response to changing market demands and competition.

Cycle & Carriage’s new leasing arm will provide a range of options from daily rentals to long-term car rentals of up to three years, the automotive group said in a press release.

The leasing arm will carry brands represented by Cycle & Carriage in Singapore, including Kia Cerato, Kia Stonic, Kia Niro Hybrid and Mitsubishi Attrage. Rentals start at S$57 a day.

As part of its expansion plans, Cycle & Carriage will lease the cars to private-hire drivers. It will also lease and manage fleets of cars for corporate clients and ride-sharing industry players, starting with a partnership with ride-hailing operator Go-Jek, it said.

Read more in this Channel NewsAsia report.

OCBC Bank first in Singapore to offer cash withdrawals via QR codes

… customers can scan a QR code and then authenticate the transaction using a fingerprint, faceprint or mobile banking login credentials…

Customers of OCBC Bank can now withdraw money using QR codes, the bank said in a news release on Wednesday (Jul 31).

Using the OCBC Pay Anyone app, customers can scan a QR code and then authenticate the transaction using a fingerprint, faceprint or mobile banking login credentials, OCBC said, adding that it was the first bank in Singapore to introduce this.

According to OCBC, a QR code is “more secure” as compared to a PIN number.

It added that even if the phone gets stolen, access to the customer’s bank account can be barred because a fingerprint or faceprint would be required.

Read more in this Channel NewsAsia report.

Sephora online users in Southeast Asia, Australia, New Zealand hit by data breach

The personal information compromised includes the user’s first and last name, date of birth, gender, email address, encrypted password, as well as data related to beauty preferences.

Personal details of Sephora’s online customers in Singapore, Malaysia, Indonesia, Thailand, the Philippines, Hong Kong, Australia and New Zealand have been leaked, the international beauty retailer said on Monday (Jul 29).

Sephora said in a notice to customers that the data breach, which involved “some customers”, had resulted in the exposure of personal information to unauthorised third parties.

Sephora did not elaborate on the number of users affected.

The personal information compromised includes the user’s first and last name, date of birth, gender, email address, encrypted password, as well as data related to beauty preferences.

“Please be reassured that no credit card information was accessed, and we have no reason to believe that any personal data has been misused,” it added.

Sephora’s online users are advised to change their password if they have not already done so. They should also register for the personal data monitoring service online by Nov 30.

Read more in this Channel NewsAsia report.

SMRT Trains’ loss widens in FY2019 as maintenance-related costs keep it in the red

…the loss was mainly due to an increase in operating expenses, particularly repairs and maintenance costs.

Local rail operator SMRT Trains on Wednesday (Jul 31) announced a net loss of S$155.3 million for Financial Year (FY) 2019, nearly double that of the previous year’s S$86 million loss.

The company, a subsidiary of SMRT Corporation, said on its website that the loss was mainly due to an increase in operating expenses, particularly repairs and maintenance costs.

Staff and electricity costs also went up due to higher headcount and higher tariffs and consumption respectively, it said.

Read more in this Channel NewsAsia report.


Seen anything interesting? Tip us off.

Want to be seen and heard? Contribute or advertise with us.

Like what you read? Follow us on Facebook and LinkedIn to get the latest updates.

Get the latest updates right to your mailbox

We will not share your contact information
By registering, you agree to our T&C and Privacy Policy
We're a bunch of minions who love reading and writing about business more than doing business (it's scary). Also, not all minions love bananas.
>