COE premiums down across all categories except for motorcycles
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$96,999 (US$75,000), down from S$102,501 in the last exercise.
Premiums for larger and more powerful cars in Category B fell to S$113,000 from S$116,988.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$62,000 from S$63,189.
Motorcycle premiums closed at S$9,000, up from S$8,707 in the last exercise.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$113,900 from S$118,010.
A total of 4,045 bids were received, with a quota of 3,086 COEs available.
In April, the Land Transport Authority (LTA) announced that the COE quota for the May to July period would increase by more than 6 per cent compared to the previous quarter.
The total number of COEs will rise to 18,232, up from 17,133 in the last quarter, which already saw an 8 per cent increase.
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CNA
6 minutes ago
- CNA
Prepaid losses for beauty consumers jump nearly six-fold in first half of 2025
SINGAPORE: Beauty industry consumers lost over S$108,000 (US$83,842) in the first half of this year after paying in advance for services that were never delivered. This represents a 464 per cent increase - or a near six-fold rise - from S$19,000 in prepayment losses during the same period last year, the Consumers Association of Singapore (CASE) said on Tuesday (Aug 5). CASE noted that the beauty sector topped prepayment-related losses, with aggressive or misleading sales tactics being a key consumer complaint. Such tactics accounted for about 28 per cent of all complaints during this period. Many of these cases involved consumers being pressured into signing high-value packages under unclear or exaggerated promises, CASE said. But there was a 19 per cent decrease in overall consumer complaints, with 6,253 cases lodged in the first half of 2025 compared with 7,721 in the corresponding period. CASE noted that there were a few high-profile incidents in 2024, including the botched Sky Lantern Festival, which led to more than 400 complaints in the first half of last year. Cars, electrical and electronic products, beauty services, renovation contractors, and telecommunications made up the top five categories of consumer complaints in the first half of 2025. BREAKDOWN OF COMPLAINTS The motorcar industry remained the top complaint category with 573 cases in the first half of this year - a 16 per cent decrease from 681 complaints in in the corresponding period. About 28 per cent of the complaints in 1H2025 involved vehicles that were either defective or did not conform to contract terms. The electrical and electronics industry rose to become the second-highest complaint category, registering 571 cases. This represented a decrease of about 4 per cent from 1H2024. Around 47 per cent of these complaints were related to defective products or those that failed to meet contract terms. They comprised both small electronic devices purchased online and larger household appliances bought from physical retail outlets like televisions and washing machines, Telecommunications-related complaints also increased from 319 in 1H2024 to 353 in 1H2025. Of these, about 24 per cent were due to customer dissatisfaction with services they had paid for. BEAUTY, CARS, E-COMMERCE CASE noted that the beauty sector recorded the highest prepayment-related losses in the first half of 2025, despite a decline in complaint numbers from 600 in the corresponding period last year to 558. It cited a high-profile case involving a contract worth over S$370,000, in which the consumer alleged that the business used aggressive, high-pressure sales tactics, made false promises, offered misleading discounts, and ultimately overcharged. "Despite a slight drop in complaint numbers, the beauty industry remains a concern due to the sharp increase in prepayment-related losses," said CASE president Melvin Yong. "CASE encourages consumers to patronise CaseTrust-accredited spas and beauty salons, which offer a five-day cooling-off period, refunds for unutilised packages, and stress-free treatments without sales pressure." In 1H2025, complaints related to the motorcar industry fell by about 16 per cent, from 681 cases in 1H2024 to 573. Complaints involving car-sharing services also dipped slightly from 109 to 97, though consumers continued to raise concerns about poor vehicle maintenance, billing issues, high insurance excess, and unreliable service. There was a 42 per cent increase in complaints related to electric vehicles (EVs), rising from 33 in 1H2024 to 47 in 1H2025. Defective components, such as batteries, and problems related to EV charging were among the common complaints raised. Said Mr Yong: "As more EVs take to Singapore's roads, CASE expects to see EV-related complaints increase in tandem. Consumers seeking to purchase an EV should be mindful of issues related to charging and battery lifespan. Car-sharing services also remain a popular choice among consumers and there needs to be stronger standards for the shared mobility space. "CASE is working with car-sharing operators to develop a CaseTrust accreditation scheme for the sector. This will allow consumers to patronise operators who have committed to consumer-friendly policies and provide an efficient dispute resolution mechanism." Complaints related to e-commerce fell by 32 per cent in 1H2025, dropping from 2,611 cases in 1H2024 to 1,769. This was largely due to an 85 per cent decline in entertainment-related complaints, which had spiked the previous year due to the failed Sky Lantern Festival. However, CASE observed an increase in complaints against online travel agencies, with 139 cases reported. Such complaints rose by around 40 per cent, it said. They involved a range of issues, including misleading descriptions of hotel accommodations, website glitches that led to duplicate or inflated charges, and confirmed bookings that were not honoured. Consumers had approached these agencies to book flights, hotels, and land tours, but encountered problems that disrupted their travel plans and caused financial stress. 'To better protect consumers and raise industry standards, CASE is looking to drive wider adoption of our CaseTrust scheme for e-businesses," said Mr Yong. "As part of its review to enhance consumer protection in Singapore, the Consumer Protection Review Panel is looking at unfair practices commonly used by online merchants, with the aim of recommending enhancements to our consumer protection regime to better protect consumers in the age of e-commerce.' With the continued rise in online transactions, Mr Yong also stressed the need to strengthen consumer protection in the e-commerce space. They include mandating merchant verification, setting up escrow accounts for online transactions, and implementing a clear dispute resolution framework to help consumers seek recourse. CASE also highlighted concerns over the increasing transaction values involved in disputes, noting that the cost of home renovation contracts often exceeds S$20,000. It urged the government to review the current S$20,000 jurisdictional limit of the Small Claims Tribunals, in order to ensure consumers continue to have access to affordable dispute resolution options.
Straits Times
an hour ago
- Straits Times
The rise of Silicon Valley's techno-religion
Sign up now: Get ST's newsletters delivered to your inbox The former Rose Garden Inn, now a part of the Lighthaven complex, in Berkeley, California, on May 9, 2025. The Rationalists, a community focused on the risks of artificial intelligence, regularly gather with tech figures and other like-minded people in a complex that covers much of a city block. BERKELEY, CALIFORNIA - In downtown Berkeley, an old hotel has become a temple to the pursuit of artificial intelligence and the future of humanity. Its name is Lighthaven. Covering much of a city block, this gated complex includes five buildings and a small park dotted with rose bushes, stone fountains and neoclassical statues. Stained-glass windows glisten on the top floor of the tallest building, called Bayes House after an 18th century mathematician and philosopher. Lighthaven is the de facto headquarters of a group who call themselves the Rationalists. This group has many interests involving mathematics, genetics and philosophy. One of their overriding beliefs is that artificial intelligence (AI) can deliver a better life if it does not destroy humanity first. The Rationalists believe it is up to the people building AI to ensure that it is a force for the greater good. Top stories Swipe. Select. Stay informed. World Israel to decide next steps in Gaza after ceasefire talks collapse Singapore 'I wish I can hear her sing again,' says boyfriend of Yishun fatal crash victim Singapore Singapore-made bot amble matchmakes strangers virtually - without profile photos Asia What's it like to deal with brutal US tariffs? Ask Malaysia Singapore Singapore launches review of economic strategy to stay ahead of global shifts Singapore A look at the five committees reviewing Singapore's economic strategy Singapore Conditional warning for ex-manager at Mendaki accused of trying to obtain laptop as bribe They were talking about AI risks years before OpenAI created ChatGPT, which brought AI into the mainstream and turned Silicon Valley on its head. Their influence has quietly spread through many tech companies, from industry giants like Google to AI pioneers like OpenAI and Anthropic. Many of the AI world's biggest names – including Dr Shane Legg, a co-founder of Google's DeepMind; Anthropic's chief executive, Dr Dario Amodei; and Dr Paul Christiano, a former OpenAI researcher who now leads safety work at the US Centre for AI Standards and Innovation – have been influenced by Rationalist philosophy. Mr Elon Musk, who runs his own AI company, said that many of the community's ideas align with his own. Mr Musk met his former partner, pop star Grimes, after they made the same cheeky reference to a Rationalist belief called Roko's Basilisk. This elaborate thought experiment argues that when an all-powerful AI arrives, it will punish everyone who has not done everything they can to bring it into existence. But these tech industry leaders stop short of calling themselves Rationalists, often because that label has over the years invited ridicule. The Rationalist community is tightly entwined with the Effective Altruism movement, which aims to remake philanthropy by calculating how many people would benefit from each donation. This form of utilitarianism aims to benefit not just people who are alive today, but all the people who will ever live. Many Effective Altruists (EA) , have decided that the best way to benefit humanity is to protect it from destruction by AI. Rationalists often identify as EAs. And EAs often adopt Rationalist philosophies. Together, these two movements have pumped hundreds of millions of dollars into companies, research labs and think - tanks that aim to build AI and ensure its safety. The biggest funders include wealthy tech moguls like Mr Jaan Tallinn, a creator of internet calling service Skype, and M r Dustin Moskovitz, a Facebook co-founder. 'They built a vast, well-funded ecosystem to spread, amplify and validate their ideology,' said Ms Mollie Gleiberman, an anthropologist who has studied the rise of the Rationalists and Effective Altruism. Whether they are right or wrong in their near-religious concerns about AI, the tech industry is reckoning with their beliefs. In late 2023, OpenAI's chief executive Sam Altman, was briefly removed from his job because board members with ties to the Rationalist and EA movements said they could not trust him to build AI for the benefit of humanity. Lighthaven is a physical manifestation of just how much these ideas have suffused Silicon Valley and the San Francisco Bay Area – a modern day temple. The main building, called Aumann Hall, after Israeli game theorist Robert Aumann, offers seven bedrooms and multiple common areas for parties and weekend conferences. Eigenspace, named for an esoteric mathematical concept, includes a gym and another communal area large enough for 40 people. Two hundred people can fan out across the synthetic grass-covered park, which also has chairs and electric fire pits. 'It's a place where serendipity can happen. Some people liken it to a college campus or the MIT Media Lab,' said Mr Alex K. Chen, a long-time member of the community, referring to the design lab at Massachusetts Institute of Technology. Each spring, Lighthaven hosts LessOnline, a conference where bloggers and commenters from Rationalist websites meet in person. Every Tuesday at 6.30pm, almost like a Bible study, people gather to read and discuss The Sequences, the urtext that gave rise to the movement. 'Religion is text and story and ritual,' said Dr Ilia Delio, a Franciscan sister and professor of theology at Villanova University. 'All of that applies here.' The Rationalist movement is a lifestyle as much as a set of ideas. The adherents have mixed their focus on AI with advice for how to live your life and manage your career. The community embraces unconventional ideas, including polyamory and the genetics of intelligence as well as Effective Altruism, which is also a lifestyle. And for aspirational AI developers, Rationalist events have become essential networking opportunities. Gatherings like the Machine Learning Alignment and Theory Scholars (Mats) program me , hosted at Lighthaven each summer, are a more important way of getting into the field of AI safety than academia, said Ms Sonia Joseph, an AI researcher at McGill University in Montreal and tech giant Meta. The Rationalists emerged in the late 2000s when an online philosopher named Eliezer Yudkowsky wrote The Sequences, a collection of essays that taught people to re-examine the world through cold and careful thought. This often involved using statistics and probability to inform their decisions. Part tutorial, part entertainment, part mystic journey, Mr Yudkowsky's essays became a manual for the Rationalist community. In 2010, Mr Yudkowsky introduced the founders of a British AI company called DeepMind to venture capitalist Peter Thiel, helping to get their company off the ground. Less than four years later, DeepMind was acquired by Google for $650 million (S$837.3 million) . Now its technology and executives are leading the tech giant's AI efforts. Mr Yudkowsky also ran a nonprofit dedicated to AI safety called the Machine Intelligence Research Institute in Berkeley. Slowly, the movement went global. Rationalist group houses appeared in cities like New York and Boston. Meetings were held in Britain, the Netherlands and Australia. The first international Effective Altruism summit was held in 2013 at a group house in Oakland, California, that served as the live-in headquarters for Leverage Research, a startup with deep ties to the Rationalist community. Leading figures in the Rationalist community like Mr Yudkowsky and Mr Tallinn helped guide the EA movement toward their shared concerns about artificial intelligence. Criticism of the Rationalist and EA movements has been frequent, including claims of sexual harassment in group houses and complaints about the community's interest in eugenics and race science. The community's reputation was damaged in 2023 after Sam Bankman-Fried, founder of cryptocurrency exchange FTX, who was one of the primary financial backers of the two movements, was convicted of fraud. But the movement continues to prosper. Bankman-Fried had become a financial trader to benefit the most people through EA causes, including the fight to keep AI safe. In the end, he was found guilty of stealing $8 billion from his customers. 'When you think about the billions at stake and the radical transformation of lives across the world because of the eccentric vision of this group, how much more cult-y does it have to be for this to be a cult? Not much,' said Mr Greg M. Epstein, a Harvard chaplain who saw the rise of the Rationalist and EA communities at the university over the past decade and the author of 'Tech Agnostic', a book that discusses technology as a new religion. 'What do cultish and fundamentalist religions often do?' Mr Epstein added. 'They get people to ignore their common sense about problems in the here and now in order to focus their attention on some fantastical future.' Each December, hundreds from the community gather in places like the Chabot planetarium in the Oakland Hills and the Freight and Salvage music hall in downtown Berkeley for an annual holiday tradition. They celebrate the Winter Solstice, the longest night of the year, with songs, stories, humour and questions about the fate of the world. The most recent celebration opened with a song called Uplift, which praised the power of technology throughout human history. Backed by guitar, violin and keyboards, two singers began in the Stone Age and finished in the future. 'Light to push the sails, read the data, cities glow! Hands type the keys, click the mouse, out we go!' they sang. 'Our voices carry 'round the world and into space! Send us out to colonise another place!' But Mr Ozy Brennan, a long-time Bay Area Rationalist who served as master of ceremonies that night, warned of clouds ahead. 'We face a number of threats our ancestors couldn't have imagined: nuclear war, bioengineered pandemics, artificial intelligence,' he said. 'If we fail – and there is every chance we might – 100 per cent of the children will die, and so will everyone else.' Lighthaven's main building, a Tudor-style home with a pink-and-white facade, was built in 1905. In the 1970s, it became a bed-and-breakfast called the Rose Garden Inn and soon joined Berkeley's list of historic landmarks. About three years ago, the property was purchased for US $16.5 million by a company called Lightcone Rose Garden, according to property records. The company was owned by Lightcone Infrastructure, which runs LessWrong, the primary online home of the Rationalists. 'Light cone' is a physics term the Rationalists and the EAs often used to describe the volume of future events they can influence from the current point in time. Now, Lightcone runs Lighthaven, too. The staff that oversees the property includes Mr Ray Arnold, who organised the first Secular Solstice. It was purchased with money from two of the community's biggest funders: Mr Tallinn and Bankman-Fried, according to a legal complaint. The funds from Bankman-Fried, which were used as a deposit, were later returned as part of a court settlement. Outsiders are not always allowed into Lighthaven. Mr Oliver Habryka, the head of Lightcone, declined a request from The New York Times to tour the facility. Last year, Ms Joseph, the McGill and Meta researcher, spent the summer at Lighthaven after being accepted into the Mats programme . Now almost 30, Ms Joseph discovered the Rationalist community as a 14-year-old, when she started reading Harry Potter And The Methods Of Rationality . In the 660,000-word serialised novel, also written by Yudkowsky, Harry Potter refuses to accept the world of wizardry on blind faith, leaning instead on the laws of philosophy, science and rational thinking. It, too, attracted hundreds of people to the community. 'It attracts outsiders,' Ms Joseph said. 'If you are a gay kid in Kansas who is getting no support from religion, you might discover Harry Potter And The Methods Of Rationality and find a community that is really accepting.' Like LessWrong, Mats can be an on-ramp to jobs at AI companies. Applicants to the programme are often chosen by top AI researchers at companies like Anthropic. But for Ms Joseph and others, the programme is more than just a career move. Looking back on her summer at Lighthaven, she remembered the roses and stone cherubs that lined the path to a three- storey building with stained-glass windows. She remembered the glistening mirror at the bottom of the stairs that evoked Harry Potter And The Methods Of Rationality . She remembered the sign on a locked door that read: 'Eliezer Yudkowsky's Office'. 'All of this feels mythic,' she said. 'Even the non-Rationalist scientists find this compelling – the same way the Manhattan Project was compelling. We want to work on something mythic.' NYTIMES
CNA
an hour ago
- CNA
Two men charged over GST fraud involving S$181 million in allegedly fake sales
SINGAPORE: Two men were charged in court on Tuesday (Aug 5) over their alleged involvement in Goods and Services Tax (GST) "missing trader fraud", involving about S$181 million (US$140 million) in fictitious sales. Missing trader fraud happens when a seller collects GST from sales but does not pay the tax to Inland Revenue Authority of Singapore (IRAS). The seller is known as the missing trader. Meanwhile, businesses further down the supply chain continue to claim refunds from IRAS for the GST paid on their purchases. Derrick Yeo Wei Kin, 40, and Yeo Kian Huat, 73, are believed to have set up four shell companies and used them to operate a fraudulent business between November 2017 and April 2018. It is not clear if the men are related. According to a police statement, the men allegedly sold goods from one company to the other companies at inflated prices amounting to about S$181 million. The sales and purchases among the companies are believed to be sham transactions created to allow the men to claim GST from IRAS. The younger Yeo allegedly submitted three fraudulent GST refund claims to IRAS in an attempt to cheat the authority into disbursing S$11.8 million. He also allegedly forged a supplier's invoice and submitted it to IRAS so that the authority would approve the GST registration application of one of the shell companies. He also purportedly made fraudulent GST refund claims under the electronic tourist refund scheme by deceiving IRAS into disbursing GST cash refunds of more than $140,000 when there were no such purchases under the scheme. The two Singaporeans received four charges each of fraudulent trading under the Companies Act. Asked for their position on the charges, the younger Yeo said: "I'm not guilty". The older Yeo said he would be "claiming trial". The men were unrepresented and the younger Yeo has several other charges already tendered against him before this development. The cases were adjourned for pre-trial conferences.
