Daily Briefing: 8 in 10 e-commerce scams happened on Carousell platform; Manufacturing growth could slow down in industrial property sector by H2

8 in 10 e-commerce scams in H1 took place on online marketplace Carousell, the Singapore Police Force (SPF) revealed in its mid-year crime statistics report. The first half of the year also saw a 58% YoY increase in e-commerce scam cases to 1,277.

These scams commonly involved electronic items as well as tickets to events and public attractions, particularly Universal Studios Singapore, said the SPF.

“A significant proportion of online commercial crimes are committed remotely by foreign syndicates that are hiding behind the anonymity of the Internet,” it added, noting that online crimes are particularly difficult to solve given the Web’s borderless nature.

Manufacturing growth continues to be robust in the industrial property market sector, but could slow down by H2. Colliers International said.

The firm expects new high specification space to lead demand. Given abundant space choices in the industrial property market, Colliers recommended that industrialists plan ahead for future expansion.

“For qualified investors, the industrial property market sector offers higher yields than commercial properties, subject to shorter land tenures and usage restrictions”, the real estate services company said.

Hybrid platform Spiking which is engaged in tracking transactions by shareholder of public-listed companies in both stock and cryptocurrency markets successfully raised an additional $1.2m for its pre-Series A funding round which is now closed at $2.23m

Key investors in in the round include Julian Chesser, Managing Director (Financial Markets, Singapore) at IHS Markit; Carl Wang, General Manager, Eyougame; and Lisa Theng, Managing Partner, Colin Ng & Partners.

According to Dr Clemen Chiang, CEO of Spiking, which is owned and operated by Singapore-based startup Aly Pte. Ltd: “With this fresh injection of capital, we will demonstrate user growth and focus on driving revenues with new monetisation channels. This will lay the foundation for the subsequent Series A funding round.”

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