Derryn Wong

Singapore

Correspondent at The Business Times (Singapore)

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Articles

Automotive group Vin’s Holdings aims for greater gains in used car space with IPO

2 weeks ago | businesstimes.com.sg | Derryn Wong

It seeks to further its ‘robust growth’ from 2021 to 2023 by investing listing proceeds in IT infrastructure and expansion Published Fri, Apr 11, 2025 · 07:00 AMThe Singaporean automotive group is expected to list on the SGX Catalist board on Apr 15. PHOTO: VIN'S HOLDINGSThe Singaporean automotive group is expected to list on the SGX Catalist board on Apr 15. PHOTO: VIN'S HOLDINGSThe Singaporean automotive group is expected to list on the SGX Catalist board on Apr 15.
COE premiums increase for most categories as mainstream car premium nears S$100,000

2 weeks ago | businesstimes.com.sg | Derryn Wong

Mainstream car and motorcycle categories reach their highest levels in 2025 at S$97,724 and S$9,889 respectively Published Wed, Apr 9, 2025 · 04:36 PM[SINGAPORE] Results for the first round of Certificate of Entitlement (COE) bidding in April saw premiums for most categories rise, as that of mainstream cars creeped closer to the S$100,000 mark. The COE premium for mainstream cars – Category A – rose 3.4 per cent or S$3,222 to S$97,724, its highest result in 2025 so far.
China-owned British car brand MG aims to double South-east Asia sales to 100,000 in next three years

2 weeks ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] Car brand MG Motor hopes to double its South-east Asia sales to 100,000 cars over the next three years, up from its 2024 total of around 50,000. This is part of its push to raise total sales to 870,000 in 2025, from around 770,000 in 2024. MG originates in Britain, but has been owned by state-owned China carmaker SAIC Motor since 2007.
Troubled China EV brand Neta shutters Singapore showroom less than three months after opening

2 weeks ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] Less than three months after its debut, beleaguered Chinese electric vehicle (EV) brand Neta has quietly shut its first and only showroom in Singapore - casting doubt over its future in the market. The premises at One Commonwealth was opened by the brand’s Singapore distributor and dealer Evology Automobile in January. The showroom was closed when The Business Times visited during opening hours on Saturday (Apr 5) and Sunday (Apr 6).
Why regulators said yes to Grab’s Singapore taxi play

3 weeks ago | techinasia.com | Derryn Wong

In a surprise announcement on Wednesday, Singapore’s Land Transport Authority (LTA) said it had issued a street-hail service operator licence (SSOL) to GrabCab, a subsidiary of Nasdaq-listed Grab Holdings. The license – valid for 10 years starting April 9 – allows a company to operate taxis, which can serve both street-hail and ride-hail trips.
Grab's new Singapore taxi licence approved as it will need to grow its business organically: regulators

3 weeks ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] Ride-hail and delivery giant Grab’s entry into the taxi sector was approved because it intends to start a new taxi fleet rather than acquire an existing one, regulators said on Wednesday (Apr 2). Meanwhile, industry observers said the move would increase competition in the sector, possibly benefiting commuters and drivers, though some warned that the potential for anti-competitive behaviour remains.
LTA issues Grab taxi operator licence in Singapore

3 weeks ago | businesstimes.com.sg | Derryn Wong

GrabCab receives street-hail service operator licence valid for 10 years from Apr 9, is sixth such operator herePublished Wed, Apr 2, 2025 · 10:50 AM[SINGAPORE] The Land Transport Authority (LTA) has issued a street-hail service operator licence to Singaporean ride-hail and delivery company Grab. LTA said the licence is valid for 10 years from Apr 9, and was awarded to GrabCab, a subsidiary of Grab Rentals and sister company of GrabCar.
Singapore’s electric heavy vehicle incentives will kickstart adoption from 2026, but could cause 'market standstill' in 2025

4 weeks ago | businesstimes.com.sg | Derryn Wong

With incentives only starting in 2026, there may be a ‘market standstill’ in 2025Published Thu, Mar 27, 2025 · 12:00 PM[SINGAPORE] Upcoming incentives for electric heavy vehicles (EHVs) and their charging infrastructure should spur adoption and could accelerate the introduction of more models to Singapore, said industry observers. But as these subsidies begin only in 2026, companies might hold off on EHV purchases until then, they added.
Singapore rolls out new standards for charging electric harbour craft

1 month ago | businesstimes.com.sg | Derryn Wong

[SINGAPORE] The Republic has published a new standard for the charging of electric harbour craft (EHCs). Known as Technical Reference 136 (TR 136), the standard was developed by the Maritime and Port Authority of Singapore (MPA) in partnership with Enterprise Singapore, industry stakeholders and academia, through the Singapore Standards Council.
Singapore debuts digital twin of its port

1 month ago | businesstimes.com.sg | Derryn Wong

A VIRTUAL model of the Port of Singapore was launched by the Republic on Monday (Mar 24) announced by Murali Pillai, minister of state for law and transport. Named the Maritime Digital Twin (MDT), it is a real-time computer representation of Singapore’s maritime operations and port infrastructure.