Derryn Wong

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

[SINGAPORE] China electric vehicle (EV) giant BYD's move to distribute its own vehicles in Australia could be the prelude to a similar strategy in South-east Asia - a move that would boost its margins, but hurt the dealer ecosystem. In May, BYD said it would take over distributorship of its vehicles in Australia from current appointee EV Direct, which had been its distributor there since 2022. Australia has become a major regional market for BYD.

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

[SINGAPORE] All premiums dipped in the first round of Certificate of Entitlement (COE) bidding in June, except for the motorcycle category. The mainstream car category posted the biggest reduction, dropping 5.4 per cent or S$5,502 to end up at S$96,999. The Category A COE applies to mainstream cars that have engines of up to 1,600 cubic centimetres (cc) in capacity or with up to 97 kilowatts (kW) of power, or for electric vehicles (EVs) with up to 110 kW of power.

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

[SINGAPORE] Red Rock & Rosso Motor (Red Rock), a company linked to Malaysian businessman Goh Kian Sin, will be the distributor and dealer for Alfa Romeo and Jeep in Singapore and Malaysia. Regulatory filings show that Goh is the sole shareholder of Red Rock. He is the founder and managing director of the Oriental Castle group, which has steel and automotive subsidiaries.

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

[SINGAPORE] The Land Transport Authority (LTA) said on Tuesday (Jun 3) that it will impose a financial penalty of S$3 million on rail operator SMRT for the major disruption of train services on the East-West Line in September 2024. The sum will go to the Public Transport Fund to assist lower-income families with public transport expenditures.

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

[SINGAPORE] Airlines' revenues will hit a record of close to US$1 trillion in 2025 with a stable net profit of US$36 billion. But US tariffs are a drag on the industry, as airline performance and the growth in both air passengers and cargo numbers are down from estimates made at the end of 2024, said the International Air Transport Association (Iata) on Monday (Jun 2). "The first half of 2025 has brought significant uncertainties to global markets.