Singapore economy grew 2.4% in Q2

SINGAPORE: The Republic's economy expanded by a faster-than-expected 2.4 per cent in the second quarter of this year from a year ago, amid a slowdown across all sectors, the Ministry of Trade and Industry (MTI) said on Tuesday (Aug 12).

The growth during the April-June period was better than the advance estimate of 2.1 per cent announced last month, and was in line with the 2.4 per cent median estimate of economists polled by Reuters.

On a seasonally adjusted and annualized rate, Singapore's gross domestic product expanded by 0.1 per cent - performing better than the earlier estimate of a 0.8 per cent quarter-on-quarter contraction.

Output from the manufacturing sector rose by 1.5 per cent compared with the same quarter last year, a sharp slowdown from the 9.9 per cent expansion in the preceding quarter. The deceleration in growth was largely due to a contraction in electronics output and slower growth in transport engineering output, MTI said.

However, some economists say they are not overly-concerned. They say the decline was likely due to a one-off factor in the electronics segment, and that recent statistics are pointing to improvement. The latest Purchasing Managers' Index reading for July showed the manufacturing sector expanding at its fastest rate in a year.

Mr Vishnu Varathan, a Senior Economist with Mizuho Bank, said: 'Going forward, the momentum looks to be more positive than it is likely to surprise on the downside. We think that the manufacturing sector will continue to gain traction albeit with soft patches along the way. We're hoping that with the global recovery taking shape led by the US, there will be more IT renewals coming through and that could add some value to the manufacturing sector, particularly in the higher end semiconductors.'

As for the construction sector, it grew at a slower pace of 4.4 per cent year-on-year in the second quarter, compared with the 6.4 per cent growth in the previous quarter. The slowdown was mainly due to a fall in private construction output, reflecting weaker private residential building works and a decline in private commercial and industrial building works.

GROWTH FORECAST NARROWED

Meanwhile, the financial and insurance sector grew 5.5 per cent year-on-year, largely similar to the 5.7 per cent growth in the first quarter, while the wholesale and retail trade sector expanded by 1.7 per cent, slower than the 3.8 per cent expansion in the previous quarter.

Prime Minister Lee Hsien Loong said in his National Day address last week the Singapore economy grew by 3.5 per cent in the first half of this year, and that the official growth forecast for 2014 has been narrowed to between 2.5 and 3.5 per cent, from the earlier projection of 2 to 4 per cent.

Looking ahead, MTI said externally-oriented sectors such as finance and insurance and wholesale trade are likely to support growth in the second half of the year, in tandem with the modest pick-up in the global economy.

'Domestically-oriented sectors such as business services and information and communications are also expected to remain resilient in the second half of 2014,' it added.

MTI, however, said growth in some labour-intensive segments such as retail and food services may be weighed down by labour constraints.

That said, the ministry says Singapore's economy remains competitive and that restructuring efforts should continue. 'Net firm formation is 8,800 in second quarter of 2014, which is higher than the average quarterly net firm formation in 2013, which stood at about 5,000-plus. EDB continues to be able to bring in investments. All these are indicators we think that point to over the long term and overall, we need to persist at restructuring,' said MTI Permanent Secretary Ow Foong Pheng.

Beyond domestic restructuring constraints, some economists say the improving global outlook will help provide a lift to Singapore, despite some uncertainty in the horizon. 'In the second quarter, the US economy did register a rebound in growth, but if you average out the first and second quarter growth, the pace of growth is really sluggish. We've seen some slowdown in growth in the Eurozone. And finally, in China, although we've seen soft landing, the pace of growth this year will definitely be slower than in previous years,' said Mr Irvin Seah, Senior Economist at DBS Bank.

Still, the latest Markit PMI numbers showed that global growth hit a 3.5-year high in July, with developed economies seeing the fastest expansion since 2007.

Shaking Up a Singapore Festival

KUALA LUMPUR, Malaysia - For the first time in its 37-year-history, Singapore's biggest arts festival is being directed not by a civil servant but by a member of its arts community.

The theater director Ong Keng Sen presides over the annual Singapore International Festival of Arts, which opened Tuesday and runs through Sept. 21. Mr. Ong, 50, was brought in to revamp what used to be a highlight of Singapore's arts calendar, but which has struggled in recent years to stand out in an increasingly crowded scene. He will direct four editions of the festival up to and including the 2017 event.

He was interviewed by telephone from Singapore. Here is an edited version of the conversation.

Q. The festival took a break in 2013 to rethink its mission before starting up again this year. Can you talk about what will be different going forward?

A. I don't believe in the old idea that there is a European circuit and an Asian circuit and an American circuit. Every arts festival has to take on the needs, colors and urgencies of that city.

Q. Over the years, the Singapore government has poured millions into the arts; building theaters, bringing in international acts and funding local arts groups. Are we at a point where there is a significant shift in thinking about the arts in Singapore?

A. It's now about the maturity in terms of content. It's no longer a numbers game.

Singapore is a melting pot of Asia. When I am in Singapore, I meet Vietnamese, I meet Latinos, I meet Cambodians. That kind of diversity is very natural. It is not unlike New York, where people go to study. I want to make a Singaporer festival, as in New Yorker, or Londoner.

Tell me about the piece you commissioned by the Indian performance artist Nikhil Chopra, 'Give Me Your Blood and I Will Give You Freedom,' about India's independence fighter Subhas Chandra Bose. It runs for 50 hours. Why?

For a street arts festival, there is a formula for it. For a music festival, there is a formula for it. I suppose in our festival, we try to rethink these formulas.

Singapore was where Bose came to raise the Indian National Army [during the Second World War], enlisting women, British prisoners of war and the Indian diaspora, who were supposed to go to India to free India from the British with the help of Japan. It never quite came to that point and the story became a footnote in history. But it was a very important moment when you see globalization happening in Singapore.

He [Nikhil Chopra] will be in an empty space, a white box 20 meters by 12 meters, and use long brushes to paint the entire space with black ink over 50 hours. Food is brought in to him, almost like a monk in a monastery.

Q. What were you doing before you were recruited as festival director?

A. I was in New York, doing a Ph.D. at Tisch [School of the Arts at New York University] on globalization in art.

In the past, the festival has been led by civil servants from the National Arts Council. They were not artists. This year, [as part of a series of prefestival events] we opened with an exhibition by a South African photographer, Zanele Muholi, of pictures of women raped or killed for choosing lifestyles beyond the heteronormative standard. This opened the weekend of Pink Dot [an L.G.B.T. event] in Singapore by chance and there was some nervousness that the festival would be perceived to be advocating alternative lifestyles.

I personally don't feel we should shy away from such subjects in SIFA. There is increasing pressure toward self-censorship in Singapore and I think it is the responsibility of artists and curators to speak firmly. Six hundred people came in support of the opening of Zanele and this is moving in a country where homosexuality is still a crime under the Singapore Penal Code.

We are not afraid to deal with these kinds of materials that maybe a civil servant will be afraid of.

Q. The theme for the 2015 festival, on the 50th anniversary of Singapore's independence, looks interesting. Can you give us a preview?

A. It involves the larger question of post-empire. We will present the ideas, including some scenes and short films, at this year's festival. There is a Chinese theater looking at finding solitude in this age of spectacle. A Beijing director is looking at Madame Mao's revolutionary operas and reconsidering her legacy. The Singapore theater company ' W!ld Rice ' is working on a piece about the various inhabitants of a single hotel room over 100 years.

Dechert opens Singapore office

Dechert said it has opened an office in Singapore after an eight-month wait to obtain a license. The office, the firm's fourth in Asia, will be led by partner Dean Collins, who joins from the Singapore location of Washington's O'Melveny & Myers. Dechert said it hopes Collins brings with him a team of associates. In Singapore, lawyers must obtain a new license to practice law when switching firms.

Collins practice focuses on investment fund formation, advising investment funds, their investment managers and other industry participants in Asia. Before O'Melveny, Collins worked for private equity firm Actis and served as a consultant at UBS and Merrill Lynch.

Dechert CEO Daniel O'Donnell said the firm focuses on practices before geography. And Collins' practice fits with its focus in Asia on investment management. He said the firm would like to add an international arbitration component to Singapore.

'Singapore has a comprehensive and diligent process for obtaining a foreign legal practice license,' O'Donnell said. 'But it's another step in expanding our Asia practice for our clients. So we are very pleased to have obtained approval.'

Dechert opened in Hong Kong in 2007 and in Beijing in 2008 with lawyers in those offices handling matters involving international mergers and acquisitions, foreign direct investment, general corporate advice and corporate governance. Dechert also assists with private equity and venture capital investments and exits in Greater China, a range of private equity and hedge fund activities, securities and commercial litigation and intellectual property.

Jeff Blumenthal covers banking, insurance and law.

Singapore Airlines joins Tata in Indian skies: Ten things we know about Vistara

India's newest airline, Air Vistara, is expected to make its debut later in the year. Vistara is a joint venture between India's Tata Sons and Singapore Airlines. It is expected to fly from October.

This would be the second airline launched in India this year, after Air Asia-also in partnership with Tata-took off in June 2014. Experts believe that both these airlines will be game-changers in India's competitive aviation sector, where many players have been crippled by high cost and low fares.

'Overall impact on the aviation sector will be positive. Both are strong companies with deep pockets,' Dhiraj Mathur, executive director at PricewaterhouseCoopers, told Quartz.

Here is what we know about the Tata-SIA venture:

What's in a name: The airline's brands name, Vistara, was unveiled today and the company has started a new Twitter account. The name is inspired by 'vistaar', a sanskrit word meaning 'limitless expanse'.

Logo: The airline also unveiled its new star-shaped logo on their Twitter account:

#Vistara logo, the Star is derived from the yantra, a perfect mathematical form representing an unbounded universe ½ http://t.co/r4Xh0aSRDO- Vistara (@airvistara) August 11, 2014

Shareholding: Tata Sons, the holding company of Tata Group, partnered with Singapore Airlines on September 19, 2013, to launch this airline with an initial investment of $100 million. Tata Sons holds 51% stake while the remainder is with Singapore Airlines.

Airbus over Boeing: Singapore Airlines chose Airbus's A320 for this venture. Aircraft will be leased.

Full-service: Unlike Air Asia, which aims to revolutionise low-budget travel in India, TATA-SIA venture is going to be a full-service airline. After the collapse of Kingfisher, Jet Airways and Air India are the only players left in India's full-service market.

'TATA- SIA is most likely starting a full service airline which will mean it will be more focused on corporate traveler. Don't see any impact on fares but introduction of new service levels,' Kapil Kaul, South Asia CEO at Centre for Aviation, told Quartz.

Hub: TATA SIA Airlines Limited will be based in New Delhi. All flights, including linked flights, will originate in Delhi and all aircraft will return to Delhi at night.

Route Map: According to the documents submitted to the Directorate General of Civil Aviation, Tata-SIA plans to operate 87 weekly flights during the first year of its operation. The airline is likely to have 14 flights a week connecting Delhi to Mumbai, Bangalore, Ahmedabad and Hyderabad. Apart from covering the big cities, there are going to be seven flights a week to Srinagar, Patna and Chandigarh.

Uniform: The cabin crew will not be dressed in saris or skirts, but in pants. Vistara says that their uniform, designed by Abraham & Thakore, is practical and embodies the best of Indian traditional wear.

Our uniform captures the spirit of #Vistara- elegant, practical & embodying the best of the Indian tradition. http://t.co/dWmCXMHCLQ- Vistara (@airvistara) August 11, 2014

Outsourcing strategy: The airline has tied up with Air India, which will manage its ground-handling and engineering services.

'There are many pros with outsourcing such as negotiating costs and soliciting bids from different players; not investing in infrastructure; not having to look for and hire specialised people; not getting involved in labour contracts, and so on,' Steve Forte, New York-based former chief executive of Jet Airways told Livemint.

Team: Tata veteran Prasad Menon is the chairman of TATA SIA Airlines Limited. He serves on the boards of several Tata companies, including Tata Industries, Tata Chemicals, Tata Projects and Tata Consulting Engineers.

This article is a part of Quartz India. For more, follow this link.

Singapore celebrates one more year of prosperity

Ambassador Peter Tan Hai Chuan

Singapore celebrates its 49th National Day on Aug. 9, 2014. The Singapore economy is doing well, posting a 3.9 percent real GDP growth in 2013, and is expected to grow by 2 to 4 percent in 2014. As a small nation lacking natural resources, we have made remarkable progress since independence in 1965. Singapore today is vibrant and cosmopolitan, and has become a top choice in Asia to live, work and study.

Despite global economic uncertainties, Singapore has maintained competitiveness by keeping our economy open for business, trade and investments. Singapore's government is committed to clean and effective governance, allowing for beneficial long-term policies. In 2014, Singapore was ranked the easiest place to do business in the world by the World Bank. It was also the top city for meetings in a ranking of 1,465 cities by the Union of International Associations for seven consecutive years, Asia's least bureaucratic place to do business and the most transparent country in Asia. Singapore hosts regional offices of many leading multinational corporations, including top Korean companies, and is becoming one of the world's leading financial centers.

Singapore continues to invest in our future generations, and boasts some of the top education institutions in Asia. The National University of Singapore was ranked second in Asia by The Times Higher Education Asia for 2014. Singapore has also attracted top international education institutions, such as INSEAD, MIT and Yale University, to set up campuses or partner with local institutions. Our emphasis on education also extends beyond our schools and into the workplace - where government and employers work hand-in-hand to continually upgrade the skills of our work force. Singapore's focus on quality life-long education and our longstanding bilingual policy has allowed our people to stay relevant and thrive in a competitive global workplace.

Central to our identity is our multicultural heritage and openness to global influences. This is reflected in our arts and cultural scene, which has grown in vibrancy and scale. Singapore has hosted numerous international performers and exhibitions over the past year. Singaporean film 'Ilo Ilo' won the Camera d'Or at the 2013 Cannes Film Festival, while Singaporean home-grown artists have gained prominence internationally, participating widely at international arts and film festivals globally, including Korea. Further, Singapore's diverse heritage can be seen in our wide variety of foods - from traditional Peranakan dishes, to international cuisine prepared by world-renowned chefs. We would like to encourage our Korean friends to visit Singapore to enjoy the vibrant cultural and culinary scene in Singapore.

Singapore and the Republic of Korea have enjoyed strong bilateral relations and will be celebrating the 40th anniversary of diplomatic ties next year. We share many interests - including the importance of free and open international trade and a peaceful and nuclear-free Korean Peninsula. Our strong relations are underpinned by frequent high-level meetings between our leaders. In December last year, Prime Minister Lee Hsien Loong made an official visit to the ROK and had a good discussion with President Park Geun-hye on issues including greater cooperation in the Korea-Singapore Free Trade Agreement (KSFTA), aviation issues and collaboration for the creative economy. Shortly after that, Singapore Minister for Communications and Information Yaacob Ibrahim led a study visit to the ROK and met with the Ministry of Science, ICT and Future Planning (MSIP) and Korean businesses, to discuss collaboration and exchange ideas. We look forward to more high-level political exchanges - a reflection of the strength of our bilateral ties.

Economic relations between our countries have flourished since the KSFTA in 2006. Singapore is Korea's sixth-largest trading partner while Korea is Singapore's eighth-largest trading partner, with bilateral trade amounting to $50.9 billion in 2013. As discussed by Prime Minister Lee and President Park last December, it has been some time since the KSFTA took effect, and a robust review of the KSFTA is timely. We look forward to working with Korean officials for the review. Additionally, both countries can further cooperate on aviation issues to promote greater economic and people-to-people exchanges. As aviation hubs in our respective regions, we look forward to further liberalize aviation links with Korea to connect Southeast Asian and Korean consumers to other global destinations.

Singapore and Korea possess complementary qualities, giving rise to greater partnership opportunities. In line with President Park's plan to develop the creative economy and internationalize Korean companies, a number of Korean organizations have chosen to collaborate with Singapore partners to capitalize on Singapore's strengths as a regional hub and our access to global trade. The Korean Health Industry Development Institute (KHIDI) has recently partnered with Singapore's Agency for Science, Technology and Research (A*STAR) to establish the KHIDI-A*STAR Medtech Development Centre in Singapore in June 2014. In July 2014, MSIP also established a Korea IT Cooperation Centre in Singapore. We look forward to deepening S&T collaboration, leveraging on our respective strengths and generating mutual benefits.

We are happy to note that more than 1,000 Korean companies have taken advantage of Singapore's geographical location and business-friendly environment to set up offices and deepen their presence in Singapore, including Samsung Electronics, NHN, SPC Group and Amore Pacific. Similarly, many Singaporean companies have invested substantively in Korea, such as Ascendas, CHC Food, DBS, Mapletree and PSA. Singapore companies Genting Singapore and SUTL - both key players in Singapore's tourism and lifestyle projects - have announced major investments in Jeju and Busan. These are expected to provide a boost to local hospitality sectors. Recently, Singapore food manufacturing companies have signed MoUs with Korea's Foodpolis development in Jeollabuk-do, as Korea strives to become a food manufacturing hub. Singapore companies play a meaningful role in Korea's economic ecosystem by creating quality employment opportunities and energizing their respective sectors.

I believe that with continued support from our Korean friends, Singapore and Korea will build stronger ties in the years to come. On Singapore's 49th National Day, let me wish all Singaporeans in Korea a happy National Day, and friends of Singapore a happy and prosperous year.

By Kim Young-shin [yskim11@joongang.co.kr]

National Day 2014: Singapore's established and unsung technology heroes

In celebration of Singapore's 49th National Day, Digital Life looks at the established and the unsung tech heroes of Singapore. Click on each photo to read their story.

XMI

Claim to fame: Xmi is the company behind the X-mini capsule speakers which are now sold in more than 85 countries.

Sound beyond size is the mantra of the eight-year-old homegrown company Xmi.

Fida International Claim to fame: This 23-year-old homegrown company owns the Prolink brand and sells its networking products in more than 20 countries in the region. Pirate3D Claim to fame: Its Buccaneer 3-D printer took the crowdfunding world by storm on Kickstarter last year. By the time the campaign ended, Pirate3D had raised more than US$1.4 million.

Unlike others in the market which cost around US$2,000 (S$2,500) and are difficult to use, Buccaneer's 3-D printer promises to be a stylish machine that is affordable - starting at US$397 - and intuitive. Read more >>

Aftershock PC Claim to fame: This two-year-old start-up lets buyers mix and match laptop components to create their ideal gaming machines. Even the look and colour can be customised.

We were tired of working for others,' said Mr Joe Wee, 30. So he quit his job in New Zealand two years ago to help his fraternal twin brother, Marcus, with Aftershock PC, a Singapore start-up selling customised gaming laptops.

Strontium Technology Claim to fame: Its PC memory and flash storage products are sold in more than 30 countries, from Australia to South Africa. In 2010, it was ranked 19th in the Enterprise 50 list, which recognises local, privately held companies for their contributions to Singapore's economy. Eubiq Claim to fame: Eubiq produces a power track that allows special adaptors to be connected to it, to power devices. This eliminates the need for extension cords and power outlets. Aztech Group Claim to fame: Known for its home networking products, Aztech is a diversified conglomerate with businesses ranging from LED lighting to marine logistics. Founded in 1986, the company is listed on the Singapore Exchange mainboard and earned $241 million last year. Leapfroglobal Group Claim to fame: The company owns the Armaggeddon, PowerLogic and SonicGear brands. It offers a broad range of speakers, gaming keyboards, mice and other accessories here, in South-east Asia, and as far afield as Europe, the Middle East and Latin America. Six up and coming Singapore technology companies to look out for

Six up and coming Singapore technology companies to look out for

Innova Technology

Innova Technology wants to make sure you never lose your valuables again.

This Singapore start-up was co-founded by Mr Rick Tan and Mr Jonathan Lim, both 27.

While studying at the Singapore Management University, Mr Tan met Mr Lim and they became friends. The idea of opening a company came to Mr Tan in early 2011, when he lost his passport while on a trip overseas.

This sparked the idea of a device to alert people when they get separated from their valuables.

The idea found favour with Red Dot Ventures - a technology incubator approved by the National Research Foundation - which invested $589,000 in Innova in 2012.

This year, the start-up launched the Protag Duet (above) - a Bluetooth tracking device roughly the size of the new $1 coin, which can be attached to important items. When paired with a smartphone via Bluetooth, the alarm on the Duet goes off when it and the smartphone are separated by more than a set distance.

When the project to build the device was launched on the crowdfunding site Indiegogo, it raised $130,000 in pre-orders mainly from Singapore and the United States.

That helped the company to earn more than $500,000 last year.

This year, it released the Protag Elite, a thin, credit card-sized gadget that works like the Duet, but is more suitable for slotting into wallets and passports, for instance.

The company says its products are now sold in 10 countries and it plans to launch two more products early next year.

It is also looking to expand into the commercial sector. It is developing a Bluetooth beacon designed for location tracking.

It plans to apply to Apple for iBeacon certification. This is Apple's trademark for small, cheap Bluetooth transmitters made by third-party manufacturers. They are used to signal nearby iOS 7 devices.

For example, if an iOS 7 user passes a beacon in a store, the retailer's app, if installed, could alert the user to a special offer.

By Colin Tan

Gavio

You might be surprised to hear that Gavio is a home-grown brand.

With their slick packaging and fashionable designs, the headphones they make would not look out of place next to a fashionable pair of Beats cans.

Founded by McCoy Holdings in 2010, the company also makes tablet cases, portable chargers and other accessories, but focuses primarily on headphones and portable speakers.

Its products come in two styles. One line-up targets younger buyers, and showcases headphones with loud colours and striking designs. The other aims for elegance, featuring speakers with sleek, curved designs and headphones in muted, understated colours.

Gavio has already won several awards here, including the Most Popular Brand award in 2012's Singapore Prestige Brand Awards.

Last year, it partnered DC Comics and Warner Bros to launch a Superman-themed series of headphones and other accessories.

Gavio said it has eight employees and earned US$5 million (S$6.25 million) in sales revenue last year. It sells mostly in Asia, but plans to expand its channels and distribution worldwide.

It will launch new products next month at IFA Berlin 2014, an international consumer electronics and home appliances show.

By Colin Tan

Touchjet

TouchPico is a small handheld projector that turns any surface into an 80-inch interactive touchscreen.

The projector runs any Android app. A custom-designed stylus lets users interact with the screen.

It is a project of a Singapore start-up called Touchjet that was founded last year by Mr Tom Li Jiang, 35, a Singapore permanent resident, and Mr Liu Zhen, 36, who had been classmates at the Nanyang Technological University.

Touchjet received $800,000 in total funding from the MDA's i.Jam programme and the National Research Foundation, as well as investment firms Ruvento Ventures, and TNF Ventures.

Its projector reads the stylus' touch inputs, Mr Li explained, which opens TouchPico to a variety of uses, such as projecting movies at home, using it as a whiteboard in the classroom and playing games on a bigger screen.

The company launched a crowdfunding campaign for TouchPico recently on IndieGoGo. It raised more than US$200,000 (S$186,000) in five days, well ahead of its US$50,000 target. The drive ends on Aug 27.

Touchjet, with seven employees now, operates in Singapore, the United States and China. It is planning to set up a worldwide distribution network for the product.

By Colin Tan

Pendulumic

While unhappiness over a product can inspire a personal challenge to create something better, Mr Daniel Chiau, 50, said the journey for home-grown headphone brand, Pendulumic, is actually due to a confluence of other factors.

His business associate and sound engineer buddy, Mr Andrew Tan, 59, was itching to do something related to audio.

At the same time, Mr Chiau's boss, Mr Henry Lim, 58, owner of Hexon, a semi-conductor company where Mr Chiau is the general manager, was also looking at other business opportunities for the company.

A partnership was formed and two years and $250,000 later, the first pair of Pendulumic headphones was born.

The Stance S1 headphones come with a built-in lithium-ion battery, capacity for two AAA batteries and has a built-in amplifier on top of two speakers. It uses the latest Bluetooth 4.0 for wireless delivery and offers 30 hours of music playback, all for US$199 (S$259).

Their next challenge was in getting their untested product into the market and into the hands of consumers.

Instead of getting local stores to stock their product, a trio of Pendulumic employees, together with 25 S1 headphones, made their way to the 2014 National Association of Music Merchants show in Los Angeles, California, in February to pitch their cans.

They continued on the road, taking a booth at the Head-Fi Meet audio show in Costa Mesa, California, in March and managed to secure a distributor as well as presence on online retailer Amazon.

The company has sold more than 1,000 units of the S1 since the launch last December and is developing a follow-up product that enables Pendulumic headsets to share music playback from one source.

By Sherwin Loh

Zensorium

A thumb-sized doctor's check-up. That is what Zensorium has created with Tinke, its own fitness sensor that works with smartphones.

Established in Singapore in 2011 by Japanese corporation Nitto Denko, Zensorium has been working to develop its own optical sensing technology for health and wellness. Tinke is the result of three years of research and development, designed to let users keep track of their fitness quickly and simply.

Unlike devices that measure one's heart rate but few other physiological indicators, Tinke checks four key parameters - heart rate, respiratory rate, blood oxygen rate and heart-rate variability, all by scanning a user's thumb.

This is all the more impressive as the workhorse is a tiny 10g sensor that is only 32mm wide.

Ms Juliana Chua, principal of Zensorium's business innovation group, said Tinke was launched last year with global sales in more than 30 countries.

The company then opened an office in Bangkok. While Ms Chua declined to reveal last year's annual revenue, she did say it now has about 15 staff there and more than 50 staff here.

For Tinke, the company was named a finalist in the Mobile Apps Showdown at the CES show in Las Vegas in January and was an honoree in the Health and Fitness category at the CES Innovations Design and Engineering Awards at the same show.

Zensorium is not resting on its laurels. Ms Chua promised it will soon launch a new product that will complement Tinke and expand on its features.

By Colin Tan

Oaxis

Singapore start-up Oaxis wants to change the way you use your smartphone case.

No longer content with simply protecting your phone, Oaxis' new product, the Inkcase Plus (right) will let you see notifications, read books and look at pictures - all without looking at your smartphone.

This is achieved through a 3.5-inch E Ink display on the case, which communicates through the smartphone via Bluetooth and dedicated applications.

Oaxis is a relative newcomer, having started in 2010. But its parent, Gajah International, is an Original Equipment Manufacturer (OEM) that has been in existence since 2004.

Founded by Mr G-Jay Yong and two others when he was studying at the National University of Singapore, Gajah started out as a trading firm, then evolved into an OEM for consumer products in 2007.

Gajah created Oaxis as a house brand to experiment with more innovative ideas such as the Inkcase Plus, without the restrictions of the OEM business model, which relies on mass production.

Instead, the Inkcase Plus was launched on crowdfunding website Kickstarter, appealing directly to customers. So far, the Inkcase Plus has generated considerable interest. It has received nearly US$200,000 (S$249,000) in pledges so far, well above its US$100,000 goal.

Oaxis said its products have shipped to more than 37 territories, with Europe its best performing market. Its offices in Singapore, China, Hong Kong and the United States have about 150 employees.

For now, Oaxis will continue developing Inkcase Plus and its ecosystem. It plans to develop more wearables and smart devices.

By Colin Tan