The_King

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Singapore Post Limited (SGX: S08) is facing challenging conditions in more than one of its divisions. The sole postal and parcel service provider had just released an operational update for the first quarter of fiscal 2023 (1Q2023) ending 30 June 2022. The group reported that traditional letter mail volumes continued their steady decline, thus negatively impacting its Domestic Post and Parcel division. To make matters worse, costs had risen for the division for fuel, labour and utilities due to high inflation. Furthermore, a major e-commerce customer had also insourced part of its logistics, leading to lower volumes for the division. As a result, the segment is expected to post an operating loss for the quarter. With such worrisome news, can SingPost continue to maintain its dividend payments? A perfect storm of problems Granted, the issues related to the fall in traditional mail volumes are not new. For its fiscal 2022 ended 31 March 2022 (FY2022), SingPost had reported a 10% year on year decline in the volume of letters and printed papers to 413 million. Revenue fell slightly more at 16% year on year to S$108 million. In the prior year, the volume and revenue for letters and printed papers had both fallen by 19% year on year, making it two consecutive years of decline. The buffer for this division is in e-commerce logistics, which saw a 24% year on year jump in both volume and revenue for FY2022. However, with the loss of a “major customer” for SingPost, the division will suffer a double whammy. FY2022 saw a sharp 43% year on year drop in operating profit for the Post and Parcel division to S$24.8 million. If the group cannot turn the situation around, FY2023’s numbers may be far worse than that of FY2022. Supply chain disruptions are biting Over at its International Post and Parcel division, ongoing supply chain disruptions have affected operations and lockdowns in Chinese cities have exacerbated the problem. Conveyancing costs have risen for supply chains starting from China while costs in Singapore remain elevated as air capacity has yet to recover to pre-pandemic levels. This problem was already present in FY2022 when SingPost highlighted the problem of high conveyancing costs due to there being no appropriate flights for carrying cargo. The silver lining The Logistics and Property segments are the silver lining for SingPost. The operational update mentioned that Logistics continued to “perform well” and that the Property remained “stable”. A glance at FY2022’s segment breakdown shows that the Logistics segment’s operating profit had surged nearly four-fold from S$11.3 million to S$44.3 million, largely due to the group’s acquisition of Freight Management Holdings Pty Ltd. It looks increasingly likely that Logistics can help to offset some of the poor performance of the Post and Parcel division. The committed occupancy for SingPost Centre as of 31 March 2022 stood at a high of 96.6%, and the property segment also churned out steady operating profits of S$52.9 million for FY2022. There are good reasons to believe these levels of operating profit can be sustained or even improved for FY2023. Paying out what it can afford Let’s now turn our attention to the crux of the matter – SingPost’s dividends. The group paid out a total dividend of S$0.018 per share for FY2022, representing 50% of its underlying net profit. Based on the weighted average number of shares for SingPost, this will amount to around S$40.5 million. The postal group generated a free cash flow of S$65.3 million for FY2022, and could, therefore, comfortably afford to pay out this dividend. SingPost’s ability to maintain its total dividend will depend on whether its earnings from the Logistics and Property divisions can cover the losses at the Post and Parcel division. It will also hinge on the group’s free cash flow generation ability for FY2023, and investors should note that FY2022’s free cash flow saw a significant drop from the S$193.6 million generated in FY2021. Get Smart: Possibility of a dividend cut Investors need to accept that there is a possibility of a dividend cut, as SingPost had demonstrated that it is willing to bite the bullet. Back in FY2021, the annual dividend was slashed from S$0.027 to just S$0.011 as underlying net profit tumbled 40% year on year due to the onset of the pandemic. Management has shown its willingness to conserve cash when it needs to, and if the group’s numbers for this year cannot match up to FY2022’s, investors may have to contend with a dividend reduction. In a recession…should you buy blue chip companies? Or will REITs be a better investment vehicle? These are questions every investor might ask today. And these are what we’ll be answering in our upcoming webinar “How to make money during a recession”. Come prepared as you migh walk away with insights that could make you even more money than during a bull market. Reserve a FREE seat here! Follow us on Facebook and Telegram for the latest investing news and analyses!

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A woman ordered a 'giant leg' ayam penyet dish from Ayam Penyet President via Foodpanda on July 17 and was more than disappointed with the chicken that she received. In fact, Stomper Cyra told Stomp the chicken looked like it had been 'half-eaten'. She shared that she had spent a total of $24.80 on five items from Ayam Penyet President at Hillion Mall, including the giant leg ayam penyet which cost $10.90. Although it is unclear if the chicken was really eaten or if it was prepared that way by the restaurant, Cyra did not receive what she had expected. "I received a half-eaten chicken," she said. "I contacted a Foodpanda agent and they only wanted to refund $2 instead of the full amount," she said. "I contacted them again for a second time telling them the same thing. "I requested for a full refund and still could not get a full refund, only refunded $12.90.

Ah Tee Ko Ko Mee has been selling authentic Teochew fishball noodles since the pushcart era of the 1960s. Roughly 60 years later, the food business has quietly closed down. For those of you who don't know, Ko Ko Mee isn't a specific type of dish. "Ko Ko" actually refers to the sound made by pushcart hawkers from yesteryears who would knock two bamboo sticks together in order to inform customers of their arrival. Ah Tee Ko Ko Mee's most recent location was at Gourmet Street at Jalan Berseh and Monday (July 18) was the hawker stall's final day of operations. This news was relayed to members of the Facebook group Can Eat! Hawker Food by a loyal customer Angie Chen later that day. PHOTO: Facebook/Angie Chen Just last week, the 75-year-old stallholder, Sim Ah Tee, had told her: "I think I will close my shop already because my feet cannot take it anymore and the finances are just not worth it for me to continue on." "This kind of work is so hard. Who want [sic] to do?" Angie wrote that tears were forming in the hawker's eyes as he shared this with her. On July 18, it was her turn to tear up after finding out it was Ah Tee Ko Ko Mee's last day of operations. The elderly man explained to Angie that his health has deteriorated and the business could not keep up with the rising costs any longer. Upon hearing this, she knew she just had to order his noodles one last time. "He did not even want to collect my money for this last order," she wrote. PHOTO: Facebook/Calvin Sim She is a massive supporter of the his stall as he uses homemade lard and chilli, and cooks the noodles perfectly, Angie added. She also shared how, over the years, the two of them built a rather special relationship as she got to know him better as a person. When the pair took a final photo together for memories' sake, it seemed like no one could break into a smile, and Angie was unable to control her tears. While some famous hawkers receive a final wave of customers when people hear that their shop is closing down, this experience isn't universal. Some stalls, like Ah Tee Ko Ko Mee, fade away without their most loyal customers knowing. "Cherish all the food you love and the people that cook it, because not all of them are fortunate enough to find successors or have people buy over their businesses," Angie wrote. In May 2021, Ah Tee's son Calvin Sim had posted about the stall on the Facebook group Hawkers United - Dabao 2020. He shared that Ah Tee is illiterate and hoped that more people would come down to try Ah Tee's authentic noodles and support the business. Another famous noodle stall which quietly closed down recently is Zhong Guo Jie Ri Shi, more commonly known as China Street Rickshaw Noodles. Located at Maxwell Food Centre, the stall was known for selling noodles for just a dollar.

SINGAPORE: While changing her employer's son's clothes, a maid took a video of the four-year-old boy that exposed his buttocks and private parts, and later uploaded the clip on TikTok. Rike Kusnul Kotimah, 25, was on Tuesday (Jul 19) jailed for three months and one week after pleading guilty to one charge of voyeurism and one charge of theft. Another charge of distributing the voyeuristic recording was considered for sentencing. There is a gag order on the victim's identity. The court heard that Rike Kusnul Kotimah started working for her employer on Mar 11. Soon after this, she asked for a transfer, which her employer agreed to on Apr 14. The employer checked the maid's photo gallery on her phone to ensure there were no pictures of her household and saw that she had taken a photo of a S$50 note placed in front of her husband's pants. The maid later admitted to taking the S$50 that was left in her employer's husband's pants, which she found while doing the laundry earlier in April. Her employer made a police report on Apr 14. During the course of investigations, the police discovered that Rike Kusnul Kotimah had used her phone to record a video of the employer's young son while she was changing him. Between March and April, while at home, she positioned her phone camera about 1m to 2m away and started recording a video while intentionally changing the boy's pants in the middle of the camera's field of vision. The child's bare buttocks could be seen throughout the video, which was at least 18 seconds long, and his private parts were exposed for a few seconds. The maid then uploaded the video onto her TikTok account with a caption in the Indonesian language. The caption, translated to English, read: "Condition for a domestic worker to be successful: Personal necessities borne by the employer, food and date borne by employer, no off day, no Shoppee (sic), whatever things I can request from employer and just believe it, go back to Indonesia with a bag full of money, not a bag full of dirty clothes!" Rike Kusnul Kotimah claimed that she had taken the video as a memento, court documents stated. Deputy Public Prosecutor Alexandria Shamini Joseph, who asked for the sentence imposed, said that the maid had intentionally recorded a video of the victim being changed at home when he had a reasonable expectation of privacy. The punishment for intentionally recording a child under 14 doing a private act without his or her consent is up to two years' jail and a fine or caning. The penalty for theft is up to seven years' jail and a fine. Source: CNA/dv(rj)

SINGAPORE — Fast food chain KFC is celebrating Singapore's National Day with an all-new special flavour on its chicken that pays homage to the well-known local food - satay. The KFC Satay Crunch puts a blend of turmeric glaze with a hint of spice on each piece of chicken, before it is being breaded and fried. It also comes with a sweet and savoury Satay Sauce that comes with generous amounts of crushed peanuts. This new flavour comes after KFC served up locally-inspired takes on its chicken, such as the Flossy Crunch Chicken in 2020 and Cereal Crunch Chicken in 2021. The KFC Satay Crunch is available as an à la carte option for S$8.20, or a variety of bundle meals from S$8.95 such as the two-piece Satay Crunch Meal, Crunch Box, five-piece Satay Crunch Buddy Meal and eight-piece Satay Crunch Family Feast. It will be available from Wednesday (20 July) for a limited time for dine-in, takeaway, and delivery at all KFC restaurants, except for the Singapore Polytechnic, National Technological University, and Singapore Zoo outlets. https://sg.news.yahoo.com/kfc-satay-crunch-flavour-celebration-national-day-053745934.html

If you've flown enough times, you've inevitably left something you shouldn't have in your bag. A pair of scissors in your toiletries. A bottle of water in your carry-on. A pork pie in your checked luggage. (Okay, maybe that wasn't an accident.) The repercussions can range from TSA confiscations to border confrontations. An Australian woman says she recently had to deal with the latter when returning home, facing an approximately $1,820 fine after forgetting to declare a leftover Subway sandwich. But after hearing her story, someone decided to come to her rescue: the Subway restaurant chain, of course. Taking to TikTok, Jessica Lee says she purchased a footlong Subway sandwich during a stopover in Singapore. "I ate six inches before my second flight and then saved the other six inches for the flight," she stated. However, she never actually finished the sandwich on the plane, which is where things went wrong. "I thought the little declaration thing you do is for your carry-ons and your luggage, so I didn't tick chicken and I didn't tick lettuce." When the half-finished sandwich was discovered, the result was a government fine of $2,664 AUD (about $1,800 USD). In the video, Lee did admit, "It is my mistake." And, reached for comment by Australia's News.com.au, a spokesperson for the country's Department of Agriculture, Fisheries and Forestry explained that Lee should have been aware that her actions were a breach of Australia's Biosecurity Act. "All meat products and vegetables must be declared on the Incoming Passenger Card. This is a legal declaration," a departmental spokesperson told the news site. "All airlines play mandatory biosecurity messaging (video/audio) in flight at top of descent (i.e. just prior to landing — not mid-flight when passengers might be sleeping) highlighting things of biosecurity risk, and the need to declare food and ingredients, and to leave all food on-board." Based on that detail, some travelers might not be particularly sympathetic. However, the TikTok complaint did catch the attention of Subway of Australia. And though they didn't pay her fine, they did give her a bit of a reimbursement: a Subway gift card for $2,664 AUD, the exact amount of the fine, along with a thank you card and a box of Subway merchandise such as a hat, scrunchy, socks, and playing cards. "If there's a lesson to be learnt from all of this, it's to always finish a Footlong in one sitting," Subway of Australia quipped. "We wanted to send one of our biggest fans a little thank you for Eating Fresh. We're sure it will cover all her chicken and lettuce needs." Back on TikTok, Subway got plenty of positive exposure in return: As of this writing, Lee's unboxing video has gotten over half a million views. "Subway makes my fine worth every single cent," Lee wrote on the clip. They also appear to have gotten a customer for life… or at least as long as $2,664 AUD lasts. https://www.foodandwine.com/news/subway-sandwich-customs-fine-singapore-australia

SINGAPORE - As Singapore ramps up solar energy deployment to meet its growing clean energy needs, the issue of how to deal with solar panel waste is proving to be a challenge. Dr Stanley Wang, co-founder and chief executive of solar tech firm EtaVolt, estimates that up to 5,000 tonnes of photovoltaic waste could be generated within the next two years, assuming that these solar panels are not recycled properly. EtaVolt, a spin-off from the Nanyang Technological University (NTU), works with firms to sustainably recycle their used solar panels and helps them determine when to upgrade to more efficient ones. Photovoltaic waste could increase exponentially in a few years' time, said Dr Wang. The country currently has a solar capacity of more than 630 megawatt-peak. It is aiming to ramp up solar energy deployment to at least two gigawatt-peak by 2030 as part of the Singapore Green Plan. Countries around the world have also been rapidly increasing their solar energy deployments amid a push for renewable energy, but this has led to solar panel waste. The latest report by the International Renewable Energy Agency (Irena) published in 2016 estimated that the world could face up to 78 million tonnes of photovoltaic waste by 2050. Professor Subodh Mhaisalkar, the executive director of the Energy Research Institute @ Nanyang Technological University (ERI@N), said cities like Singapore primarily deploy solar panels on rooftops. As newer technologies become available, it makes sense for customers to upgrade their solar panels to higher-efficiency ones, said Prof Subodh. Dr Wang said that while high-quality solar panels could have a lifespan of around 20 to 25 years, they are generally about 10 per cent to 15 per cent less efficient beyond the 10-year mark. Thus, those deploying solar panels now would be looking to have them replaced in seven to 10 years, said Prof Subodh. Dr Wang said the lifespan of solar panels could also be shortened if they are damaged during transportation and installation, and in lightning strikes. "Given that Singapore's solar panel deployment started to pick up over the past five years, we expect significant solar panel replacement or recycling to increase significantly by 2025," said Prof Subodh. Decommissioned solar panels which have been used for 10 year so far. PHOTO: ETAVOLT But solar panel recycling is not without problems. They are made of materials such as aluminium, glass and silicon, which can be potentially recycled, but are often difficult to separate, said Associate Professor Nripan Mathews, who is the cluster director of renewables and low-carbon generation (solar) at ERI@N. This makes recycling costly, said Prof Subodh. He said that while Singapore could develop new recycling technologies for a pilot plant here, it could be more cost-effective to have a large-scale recycling plant in the region, collating solar panel waste from countries in South-east Asia. This is because Singapore does not have as much solar panel waste, compared with other countries. A spokesman for solar panel firm EDPR Sunseap told The Straits Times that only about 300 of its solar panels have been recycled thus far, as most of its panels have yet to reach the end of their life cycle. Some were damaged during installation, while others had manufacturing defects, lowering their efficiency. "One of the challenges to solar panel recycling is the cost, and there are only a handful of recycling plants or vendors who are capable of recycling solar panels here," the spokesman added. Decommissioned solar panels which have been used for 10 year so far. PHOTO: ETAVOLT Under the National Environment Agency's (NEA) Resource Sustainability Act, companies that import solar panels and sell or install them here must provide free take-back services for their customers when the solar panels reach their "end of life". These companies can then engage NEA-licensed waste collectors or e-waste recyclers to dispose of or recycle these solar panels. NEA said it is currently funding two projects under its Closing the Waste Loop initiative, and they involve recovering valuable materials through solar panel recycling. https://www.straitstimes.com/singapore/environment/singapore-could-see-5000-tonnes-of-solar-panel-waste-in-next-2-years

OTTAWA, Ont. — In a “remarkable” disclosure, Canada’s national police force has described for the first time how it uses spyware to infiltrate mobile devices and collect data, including by remotely turning on the camera and microphone of a suspect’s phone or laptop. The Royal Canadian Mounted Police says it only uses such tools in the most serious cases, when less intrusive techniques are unsuccessful. But until now, the force has not been open about its ability to employ malware to hack phones and other devices, despite using the tools for several years. Between 2018 and 2020, the RCMP said it deployed this technology in 10 investigations. “This is a kind of capability that they have done everything possible to keep incredibly quiet,” said Christopher Parsons, senior research associate at the University of Toronto’s Citizen Lab. “This is a remarkable finding and, for the first time, publicly reveals that the RCMP is using spyware to infiltrate mobile devices, as well as the broad capabilities of their spyware,” he said. The RCMP says the increasing use of encrypted communication means police need new tools to keep up. But critics say the advent of the digital era means police have access to vastly more information than ever before. They say there needs to be a public discussion about what limits to place on the use of malware and other intrusive tools. The police agency outlined the techniques used by its Covert Access and Intercept Team in a document introduced in the House of Commons last week. The RCMP provided the information in response to a question from a Conservative MP about what government programs gather data from Canadians. The team, which exists to intercept communication that can’t be obtained using traditional wiretaps, uses “on-device investigative tools.” The RCMP defines those as computer programs “installed on a targeted computing device that enables the collection of electronic evidence” — spyware, in other words. The RCMP can use spyware to collect a broad range of data, including text messages, email, photos, videos, audio files, calendar entries and financial records. The police can also gather “audio recordings of private communications and other sounds within range of the targeted device” and “photographic images of persons, places and activities viewable by the camera(s) built into the targeted device,” the document says. These tools are only used during serious criminal and national security investigations, the force says, and always require authorization from a judge. The RCMP declined an interview request and did not provide answers to written questions before this article was published. Parsons said experts have known or assumed for some time that police are using these tools, but the RCMP has not confirmed it. “[This] is the cleanest, most straightforward explanation of what they’re capable of doing that I’m aware of,” he said. In the document, the police force says it needs to use spyware because traditional wiretaps are much less effective than they once were. “In less than a generation, a high number of Canadians migrated their daily communications from a small number of large telecommunication service providers, all of which provided limited and centrally controlled services to customers, to countless organizations in Canada and elsewhere that provide a myriad of digital services to customers,” the document reads. “That decentralization, combined with the widespread use of end-to-end encrypted voice and text-based messaging services, make it exponentially more difficult for the RCMP to conduct court-authorized electronic surveillance.” For example, police can require cellphone providers to turn over a suspect’s text messages. But if the person is using an encrypted messenger service — Signal, for instance — they might receive only gibberish, or nothing at all. Using spyware enables police to intercept messages and other data before they’re encrypted and sent, or after they’re received and decrypted, the agency explains. This isn’t the first time the RCMP has raised concerns about encryption. In 2016, the same year the CAIT program was launched, the police force gave reporters from the CBC and the Toronto Star an inside look at 10 active investigations it said were being stymied by the use of encryption. The move came as the government was pitching four proposals to enhance police capabilities, including a law that would compel suspects to unlock digital devices at the request of police with a judge’s warrant. At the time, police said they wanted to start a “public debate” about police powers and privacy. Those four proposals have not been adopted, Parsons said. But none of them touched on the use of malware to enable surveillance. “We haven’t had a public debate over the adoption of these tools, while they’re clearly being used by at least the RCMP and potentially other policing forces in Canada,” said Tamir Israel, staff lawyer at the University of Ottawa’s Samuelson-Glushko Canadian Internet Policy & Public Interest Clinic. “It’s really, really concerning that this type of intrusive tool is already in use, and we haven’t had that debate.” Israel disputed the idea that police are at a disadvantage due to encryption. Thanks to our growing digital footprints, he said, law enforcement has seen a “massive increase” in their ability to monitor people. “That’s more than counterbalanced any potential drop-off there has been over these new types of communication tools,” he said. “Overall, they have a much more robust picture of what we’re doing [and] who we’re doing it with … than was the case historically.” Israel believes Canada needs a legal framework that sets out which spyware tools can be used for policing and in what context. Steven Penney, a law professor at the University of Alberta, said the use of this technology will eventually be litigated, as defense lawyers challenge these warrants. He suspects that courts will find police can employ these tools, but said Parliament may choose to regulate their use. It’s an issue that’s “probably bubbling to the surface,” he said. In the document, the RCMP says it didn’t consult the federal privacy commissioner before launching the CAIT program in 2016. However, it says the police force began drafting a privacy impact assessment in 2021 regarding CAIT activities, including the use of spyware, and plans to consult the privacy watchdog as part of that process. “RCMP’s CAIT tools and techniques are not used to conduct mass surveillance,” the document reads. “The use of ODITs [spyware] is always targeted and time-limited.” A spokesperson for privacy commissioner Philippe Dufresne confirmed to POLITICO that his office has not been notified about the CAIT program, and said the office will be following up with the RCMP. Government institutions are required to notify the privacy commissioner of “initiatives that may have an impact on the privacy of Canadians,” the spokesperson said in an email. “The use of this type of technology raises important privacy considerations. We look forward to receiving a [privacy impact assessment] that describes when and how this technology will be used, and the measures the RCMP plans to take to ensure its use remains in compliance with the Privacy Act.” Brenda McPhail, director of the Canadian Civil Liberties Association’s privacy, technology and surveillance program, said she also wants to know which companies are providing these tools to Canadian police. “Many such companies have histories of selling these intrusive and dangerous tools to authoritarian governments where they are ultimately used against human rights defenders, journalists, and others,” she said in an email. Last year, a collaborative investigation called the Pegasus Project revealed that spyware licensed by Israeli firm NSO Group to governments for tracking criminals was also used to hack smartphones belonging to journalists and human rights activists. In February, the Washington Post reported that the FBI had tested the NSO Group’s spyware for possible use in criminal investigations, though the agency said it had not been used in any investigation. Parsons said it’s concerning that government agencies are benefiting from vulnerabilities in software used by their own citizens, which they have an incentive not to correct. “Rather than going out and saying, ‘Hey, this is a problem, we should fix it,’ they say, ‘Oh, this is great. We’re going to exploit it,’” he said. “The RCMP might be using this [vulnerability] for their activities, but so might be a foreign government actor, so might be criminal actors, or other parties who have malicious intent.” https://www.politico.com/news/2022/06/29/canada-national-police-spyware-phones-00043092

SINGAPORE - Eager to get two Rolex watches to sell for a profit, watch collector Max (not his real name) paid a couple $280,000 for them and for a Patek Philippe watch. He did so even before receiving the watches. When the couple became uncontactable, he realised his money was as good as gone. And Max is not the only one. The Straits Times understands police reports have been made against the couple over undelivered luxury goods, mostly watches, worth at least $32 million. Over the past week, ST spoke to 10 victims, aged between 24 and 52. They included a chef, an interior designer, an advertising manager and a retiree. Most of them said they trusted the couple as their business was registered as a regulated dealer and had a certificate from the Ministry of Law (MinLaw) to prove it. In response to queries, a MinLaw spokesman said the business, named Tradenation, was registered as a precious stones and precious metals dealer on April 2. "Registered dealers are regulated by the Registrar of Regulated Dealers only for anti-money laundering and countering the financing of terrorism purposes," said a MinLaw spokesman. Tradenation submitted its registration application to MinLaw as it was conducting regulated dealing and at the point of registration, there were no grounds to refuse the registration, said MinLaw. The spokesman added: "MinLaw has suspended Tradenation's registration due to the ongoing police investigations. As police investigations are ongoing, we are unable to comment further. "If Tradenation is found guilty of an offence following the police investigations, MinLaw will terminate the registration of Tradenation." Max, 48, who works in manufacturing, said he had entrusted most of his life savings to them in April. He said: "I haven't slept properly in two months. I just keep thinking how stupid I was to trust them. My wife still doesn't know about the money I lost. How can I even tell her?" Max made his first purchase with the couple last November. He spent $72,000 on a Rolex Daytona and it was delivered to his home a month after he made the order. Max had the watch authenticated. He said: "That was when I began trusting them. I even became friends with them and we would go out for dinner. "I made eight more purchases with them in a span of three months, but sold most of those watches to make a profit." His nightmare started when the watches he ordered in April never arrived. The couple blamed the delay on supply chain issues and avoided his calls. He knew he had been scammed when he was added in a group chat on messaging platform Telegram with more than140 other angry customers of the couple who also had not received their goods, which included Hermes Birkin and Kelly bags, and Rolex and Patek Philippe watches. The group chat was created by the couple in June to inform their customers of the delay. Victims said the couple threatened them in the chat that if they made police reports, they would not receive their goods. Choking up, Max said: "I feel betrayed. I went on holiday with my wife and kids last month, and I had to put up a front that I was okay, because I couldn't tell my family." Over 140 customers have not received their goods, which include Hermes Birkin and Kelly bags, and Rolex and Patek Philippe watches. PHOTO: SHIN MIN DAILY NEWS Another person who lodged a police report against the couple was Ms Tan, 24, a fresh graduate from a local university, who works in marketing. She had paid $62,500 for a Rolex Cosmograph Daytona in March but it never arrived. Ms Tan, who declined to reveal her full name, said the watch was supposed to be a post-graduation gift to herself. She said: "The watch would normally cost $70,000, so I thought it was a good deal. They had multiple good reviews and I also bought a $27,000 Rolex from them in October last year which was delivered in a month. So, I trusted them completely." Ms Tan said she feels helpless, adding: “I just don’t think I will see that money again, which is frustrating because it is my hard-earned money I worked for by doing event jobs while studying.” Another victim, Mr Wang, lost $68,000 after placing an order for two Rolex watches as he felt they would be a good investment. Also declining to reveal his full name, Mr Wang, who works in advertising, 39, said: "I'm not a watch enthusiast, but I thought I could buy watches now and sell them for a profit. "I saved up for many years to buy the watches. All I can say is this was such a bad investment. What to look out for when buying luxury goods from resellers/dealers - Pay a deposit upon ordering the goods. Do not pay the full amount until you have received them. - Make payment via a bank transfer and request for a receipt. - Check the seller's reviews across various platforms. - Purchase from sellers who have physical stores. - Buying from an approved and licensed dealer is safer than buying from an unregulated entity. - Walk away from deals that seem too good to be true. Sources: Mr William Tan, manager of luxury goods dealer Watch Exchange, and Mr Tom Chng, founder of Singapore Watch Club.

any idea which one? IT will mostly use for marketing (best can be to carry bulk item), exploring SG (like park, area like seletar area and ulu ulu area) and if needed i can fold it can push it into mall