Daily Briefing: Technologists harder to keep in Singapore’s tight job market; 59 shop units in Ming Arcade up for sale at $51m

And printing startup Gogoprint raises $10.67m.

Banks, tech firms, and trading firms may have a hard time to retain technologists amidst Singapore’s tight job market.

“To keep technologists engaged, it’s important to give them work that’s genuinely innovative,” trading firm DRW head of Asia Brook Teeter said.

According to Teeter, technologists from startups or the likes of Facebook and Google can be persuaded to join trading firms, if they are offered “powerful” jobs working on innovative new products.

“We’ve found that candidates from the technology industry – whether at established players or startups – are very keen to learn about financial markets and apply their skills in our industry,” he added.

A strata portfolio of 59 shop units in Ming Arcade have been launched for sale at $51m via Expression of Interest (EOI), CBRE revealed.

With a combined strata floor area of approximately 11,410 sq ft, the units in the portfolio are spread across every storey from basement 1 to the sixth storey.

Conveniently located near the junction of Orchard Road and Cuscaden Road, Ming Arcade is a short stroll from a plethora of amenities including restaurants, retail shops, entertainment and lifestyle establishments. 

Redevelopment options for the strata portfolio include medical suites, office and retail developments as well as hotel and mixed commercial and residential uses, subject to the relevant authorities’ approval and payment of a development charge, where applicable.

Singapore-based online printing startup Gogoprint raised $10.67m (US$7.7m) in its Series A round led by Online Printing Group (OPG) which will be used for its expansion into Australia, New Zealand, and South Korea in the next 12 months.

The company also plans to expand its head count to 155 from 125 currently. In the longer run, Gogoprint aims to be a marketplace for printing suppliers.

Founded in 2015, Gogoprint has worked with over 45,000 customers and printed 250 million products. Some of their clients include Honda, Lazada, Lion Air, Yamaha, Nanyang Technological University Singapore and Booking.com.

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