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Half of all two-room flexi flat buyers are aged above 55, says HDB

SINGAPORE - Two-room flexi flats have proved popular with older buyers, with more than half of them aged 55 and above, figures revealed on Saturday (Feb 27). Singles have been the second-largest group purchasing the units since they were introduced six years ago, the Housing Board (HDB) said. As at Dec 31, about 34,700 two-room flexi flats had been launched for sale since they were brought in by the HDB in 2015. Around 84 per - or 25,189 flats - of the 29,924 units offered have been booked by home buyers, said the HDB. Selections are still ongoing for the remaining 4,700 units. Of these buyers, 56 per cent were older people aged 55 and above. Singles made up 38 per cent while the remaining 6 per cent of home buyers were families. Among the flats purchased by older buyers, 92 per cent were on short leases. The remainder were on 99-year leases. The 40-year lease was the most popular, at 4,046 units, followed by the 35-year lease at 3,526 and the 30-year lease at 2,291 units. Only 215 older buyers opted for the shortest lease of 15 years, with the oldest being 99 when applying for a flat with such a lease. Sizes for these flats range from 36 to 46 sq m. Older buyers pay less for a fla...

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More than 26,000 Home Team front-liners get Covid-19 vaccine jab

SINGAPORE - About 26,200 Home Team officers have received their first dose of the Covid-19 vaccine as at Friday (Feb 26). Of these, 19,058 officers have received their second doses, said the Ministry of Home Affairs (MHA) in a statement on Saturday. MHA's vaccination exercise started with 80 officers involved in front-line healthcare operations receiving vaccinations on Jan 11. They were among about 1,050 to be vaccinated first, including Singapore Civil Defence Force's (SCDF) Emergency Medical Services officers, staff from the Home Team Medical Services Division, and other front-line officers. They included staff from the Home Team Science and Technology Agency (HTX) and the Singapore Prison Service (SPS). Subsequently, front-line officers performing enforcement and essential services duties were also vaccinated. Senior leaders from various services under MHA were also vaccinated, including the commissioners and heads of department of the SCDF, Singapore Police Force, Immigration & Checkpoints Authority (ICA), SPS, Central Narcotics Bureau and HTX. Among them was Commissioner of Police Hoong Wee Teck, who received his second shot at the Home Team Academy on Feb 17. He said: "Takin...

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Nearly $480,000 worth of drugs seized in CNB bust, including more than 3kg of heroin

SINGAPORE - More than 3kg of heroin was seized, along with other drugs, by the Central Narcotics Bureau (CNB) on Thursday (Feb 25) and Friday. A man and two women, all Singaporeans, were arrested for suspected drug offences. The drugs seized are estimated to be worth close to $480,000. Some $47,879 in cash was also found during the operation, which took place in multiple locations. In a statement on Saturday, CNB said that on Thursday afternoon, its officers arrested a 35-year-old man for suspected drug trafficking in the vicinity of Jalan Eunos. The man put up a violent struggle as the officers moved in to arrest him, and "necessary force" was used to subdue him, said CNB. The man was searched, and about 328g of heroin, 122g of Ice, 6g of ketamine, 93 Ecstasy tablets, 15 Erimin-5 tablets and $18,900 in cash were seized. The man was then taken to his hideout in the vicinity where the two women, aged 31 and 35, were arrested. A search of the residential unit uncovered another 2,233g of heroin, 1,013g of Ice, 445g of cannabis, more than 3,000 Ecstasy tablets, and cash amounting to $28,979. CNB's follow-up investigations revealed that the man had another hideout in the vicinity of Fre...

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Fatal Tuas fire: MOM to appoint inquiry committee to study what led to explosion that killed 3

SINGAPORE - An inquiry committee will be appointed by Manpower Minister Josephine Teo following the fatal fire and explosion at Stars Engrg on Wednesday (Feb 24). Three workers died and another five are still in critical condition, said the Ministry of Manpower (MOM) on Saturday. MOM said the committee is expected to carry out a thorough study into the factors that led to the fire and blast. It will also make recommendations including policy, regulatory or workplace safety and health measures to prevent the recurrence of similar incidents. The committee will be led by a district judge with two technical assessors, and its proceedings will be held in open court. More details will be announced next week. The last time an inquiry was convened for a workplace accident was in 2004 to investigate the Nicoll Highway collapse that killed four people. Ten people were taken to hospital for burn injuries. PHOTO: SCDF / FACEBOOK In a Facebook post on Saturday morning, Senior Minister of State for Manpower Zaqy Mohamad called Wednesday's accident one of the most serious workplace incidents in Singapore in recent years. He said Singapore had made significant improvements to workplace safety and ...

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Morning Briefing: Top stories from The Straits Times on Feb 27

Good morning! Here are our top stories to kick-start your Saturday, Feb 27. S'pore must press on with plans for next growth phase: DPM Heng Doing so would enable the economy to provide jobs in new areas even as it restructures, he said. READ MORE HERE Feeding wildlife a major reason for spike in wild animal numbers: NParks When humans feed them, wild animals spend less time looking for food and have more time to mate. READ MORE HERE S'pore's many shades of green: How should green spaces outside of protected areas be valued? The ecological value of green spaces is a factor in balancing development and conservation, Minister Desmond Lee tells Insight. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Malaysia politics, one year on: Will a general election resolve the impasse? On Feb 24 last year, Mahathir stunned Malaysia by resigning as prime minister. Here's a look at the fractured political landscape one year on. READ MORE HERE CDL's 'game-changing' China deal turns out to be more difficult than expected Shoring up shareholder confidence is critical, says senior business correspondent Grace Leong. READ MORE HERE Saudi crown prince approv...

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Nasdaq finishes higher, tech stocks retrace some losses

NEW YORK (REUTERS) - The tech-heavy Nasdaq index rallied in choppy trading on Friday (Feb 26), even as sentiment remained fragile after the index's worst performance in four months the day before as fears of rising inflation kept US bond yields near a one-year high. The S&P 500 ended little changed, while the Dow index closed lower after earlier dropping to a three-week low. The Dow still posted gains of nearly 4% for the month, as investors bought into cyclical companies set to benefit from an economic reopening. Nasdaq, which had its worst week since October, ended the month roughly 1% higher while the S&P 500 posted a monthly gain of about 2.6%. Shares of Apple Inc, Amazon.com Inc, Microsoft Corp and Alphabet Inc rose between 0.2% to 1.4% on Friday but had their worst week in months due to a sharp rise in US Treasury yields. The benchmark 10-year US Treasury yield eased to 1.404% after jumping to 1.614% on Thursday, roiling stock markets. Wall Street's fear gauge hovered at a one-month high. Tech stocks are particularly sensitive to rising yields because their value rests heavily on future earnings, which are discounted more deeply when interest rates go up. "There's no question...

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Asian bourses in red on worries over rising US Treasury yield

The local market was not spared as Asian bourses ended the week in the red, as rising United States Treasury bond yields stoked inflation fears and caused a sharp overnight fall in Wall Street tech shares. The souring sentiment sent the benchmark Straits Times Index (STI) falling 0.82 per cent, or 24.5 points, to end at 2,949.04. Losers outnumbered gainers 334 to 196 for the day, with 2.82 billion shares worth $2.35 billion changing hands. It was not that much different across the region. Tokyo's Nikkei 225 Index fell 3.99 per cent while the South Korean benchmark Kospi closed 2.8 per cent down. Chinese markets also ended the day firmly in the red. The Hang Seng Index slipped 3.64 per cent and the Shanghai Composite Index retreated 2.12 per cent. Australian stocks fared dismally as well, falling 2.4 per cent on their worst day in six months, with A$51 billion (S$53 billion) wiped off share valuations. That left the index down 1.8 per cent for the week after it hit a 12-month high only last week. Mr Jeffrey Halley, Oanda's senior market analyst for Asia-Pacific, noted: "With Wall Street setting the myopic inflation-watching tone, it is no surprise that Asia has followed suit and hea...

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Singapore factory output extends rebound, rising 8.6%

Electronics and precision engineering put in the heavy lifting last month to keep manufacturing output heading north. Factory output rose 8.6 per cent year on year in January for a third straight month of growth, the Economic Development Board (EDB) noted yesterday. This came in below the upwardly revised 16.2 per cent growth rate racked up in December, but topped the 3.6 per cent forecast of analysts in a Bloomberg poll. If biomedical manufacturing was excluded, output grew 12.1 per cent. Production in the key electronics cluster rose 19.8 per cent with all segments recording growth except infocomms and consumer electronics. The semiconductor sector was particularly robust, surging 23.8 per cent on the back of demand from cloud services, automotive and 5G markets. OCBC Bank economist Howie Lee said the global chip shortage is the biggest reason Singapore's industrial production could continue to outperform in the near term. "Semiconductors, in particular, are in severe shortage due to increased work-from-home trends, supply chain disruptions from the 2019 United States-China trade war and years of prior de-stocking and under-investment," he added. The precision engineering cluster...

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Broad Homes (02163.hk) to Intensify Its Leading Position Through Data-driven and Dual-driver Strategies

HONG KONG, Feb 26, 2021 - (ACN Newswire) - Recently, promotion policies of prefabricated buildings were rolled out in succession, contributing to an on-going increase in scale of industrial chain and positive industry sentiment. In particular, Broad Homes (02163.HK), one of the industry leaders, which has exploited the construction industrialization field for over two decades, is committed to consolidating its competitive edges and has delivered remarkable performance with CAGR (Compound Annual Growth Rate) of revenue reaching 32.36% for the last three years (2017-2019), market share (of PC unit manufacturing business) amounting 13.5% and research and development (R&D) expenses as a percentage of revenue accounting for 8.82%, both topping the industry.Picture 1Picture 2Picture 3Picture 4 China's PC unit manufacturing market scale from 2014 to 2024 (estimated) Unit: RMB100 millionThanks to the recent favorable policies in the prefabricated construction industry, Broad Homes remains dedicated to its PC unit manufacturing business and upholds the data-driven and B+C dual-driver strategies, well positioned to further consolidate its leading position and achieve leapfrog growth.EXPE...

Venture Capitalist Ng You Zhi Seeks to Invest in Luxury Car Dealership Startups

The young investment maverick sees a new potential in the luxury cars market with Singapore recovering from the COVID-19 pandemic. Singapore - With the city-state slowly but surely returning back to normal, business visionary Ng You Zhi takes on a new investment adventure, this time on the luxury car industry. "There's no stopping the luxury car market from growing," he says in a recent interview. "The pandemic has made us realise the salience of investing in things that matter, and that includes investing in ventures that continue to rise in market value." According to a report published by Fortune Business Insights, titled "Luxury Car Market Size, Share & COVID-19 Impact Analysis," the global luxury cars market size is projected to reach USD 655 billion by the end of 2027. "The rising disposable income across the world will contribute to the growth of the market in the coming years." Why invest in luxury car dealership startups "I am an avid fan of luxury cars," Ng You Zhi admits to even owning two in his garage. "But more than celebrating my passion, luxury cars have grown in demand over the recent years, but dealerships are only reserved to a limited few. With dealership st...

从行业第一到多品类布局 中国版宝洁——朝云集团火热招股中

HONG KONG, Feb 26, 2021 - (亚太商讯 via SEAPRWire.com) - 据星岛日报报道,中国的家居护理龙头企业——朝云集团有限公司(“朝云集团”或“公司”)正在火热招股中。自成立以来,朝云集团敏锐把握市场先机,深耕家居护理各细分领域,完善产品体系,创新升级,逐步形成对家居护理产品的全面覆盖,并进军个人护理和宠物品类黄金赛道。品类结构持续优化 消杀稳步增长 宠物表现突出在多品牌和多品类的战略指引下,朝云集团构建起创新的一站式家居护理、个人护理、宠物品类平台,打造中国版宝洁。通过持续优化品类结构,朝云集团多个子板块步入快速增长阶段。其中个人护理产品花露水品类和洗手液品类,在上市9个月分别实现细分品类领先地位,倔强的尾巴上市4个月在天猫宠物香水除味类目排名第一。根据其招股书披露,截至2020年9月30日,朝云集团家居清洁产品的收入同比增长29.7%;个人护理品类收入同比增长69.2%。2019年,朝云集团进入增速快、毛利高的宠物护理领域,幷在2021年全面进军规模超千亿的宠物市场,未来发展值得期待。据灼识咨询报告估计,中国家居护理、个人护理市场,预计2024年将达到694亿和7,014亿的规模,未来5年的年均复合增速分别达到8.7%和8.9%。由此可见,朝云集团的核心品类未来发展增量空间十分庞大。中国杀虫驱蚊市场是全球最大的杀虫驱蚊市场,其零售额从2015年的人民币62亿元增长至2019年的人民币84亿元,覆合年增长率8.0%,增速远快于全球市场增速3.4%。驱蚊产品增长潜力较高,且该品类的准入壁垒也相对较高,对公司的品牌知名度、分销渠道、生产技术、证照许可等都有较高的要求,而朝云集团作为该品类的龙头企业,已建立起牢固的产品技术护城河。2015年至2019年期间,各年内以零售额计,朝云集团在中国杀虫驱蚊市场排名第一,市场份额在2019年达到为22.8%。贝贝健在2010年推出市场6年后,成为儿童适用杀虫驱蚊市场份额第一品牌,到2019年市场份额达41.4%。渠道结构持续优化 线上线下双增长朝云集团从2018年开始发力在线渠道,且连续两年实现超过100%增长。在短短一年时间里,其在线商店从单一店铺拓展到14个自营店铺、从单一渠道拓展到20多个在线渠道,幷打造出数个明星品牌和单品,其中超威获得天猫驱虫类目及电热蚊香类目排名第一。同时,公司孵化了两个天猫新锐品牌倔强的尾巴和润之素,其中倔强的尾巴获得宠物香水除味剂类目排名第一,幷入选天猫小黑盒认证年度优质新品榜单。在发展在线渠道的同时,朝云集团线下渠道持续渗透及拓展。截至2020年9月30日,公司拥有超过1,200家线下经销商,约62万个销售网点,48名大客户,覆盖11,000个零售网点,及国内所有省份、所有地级市,全面深入一至五线城市。当前中国三线以下家居护理市场增速迅猛,根据灼识咨询...

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Avance Clinical and Medidata Celebrate Strategic Partnership and Inhouse Expert Accreditation Milestones

ADELAIDE, AU, Feb 26, 2021 - (ACN Newswire) - The leading Australian CRO for biotechs, and Frost & Sullivan Asia-Pacific CRO Market Leadership Award winner, Avance Clinical continues to celebrate their strategic partnership with Medidata, and the accreditation of seven Medidata inhouse experts.The two organizations have been working together to deliver world-class clinical research services to Avance Clinical's biotech customers via the Medidata Rave Clinical Cloud™.Avance Clinical, Chief Strategy Officer, Ben Edwards said "We look forward to many more years working with Medidata as we continue to grow the business and support the development needs of our clients."Mr Edwin Ng, Senior Vice President, General Manager for Medidata APAC, said, "We are pleased to be supporting Avance Clinical's exceptional growth in Australia. Avance Clinical accreditation signifies the importance of Medidata's portfolio of products in ensuring the success of our partners' programs, and our continued commitment to helping our partners streamline and enhance the clinical research process."Avance Clinical, Director Business Development Operations, Sandrien Louwaars said, "The Medidata Rave Clinical Cl...

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50-70% of home owners have moved into Bidadari’s first three completed BTO projects

SINGAPORE - More than 2,000 Build-To-Order (BTO) Housing Board flats in Singapore's newest large estate, Bidadari, have been completed, with families progressively moving into their new homes. These flats are spread across three projects - Alkaff Vista, Alkaff LakeView and Alkaff CourtView - which were launched for sale by the HDB in 2015. More than 70 per cent of residents have moved into their new homes in Alkaff Vista and Alkaff LakeView, said the HDB in an update on Friday (Feb 26). About 50 per cent of residents have done the same in Alkaff CourtView, where works on community spaces are still in progress. All 12 public housing developments in Bidadari have been rolled out, with the final three projects - Bartley GreenRise, ParkEdge @ Bidadari and Alkaff Breeze - launched in last month's BTO sales exercise. Bartley GreenRise will be the last BTO site to be ready, and is estimated to be completed in the second quarter of 2025. The BTO projects in the 93ha Bidadari estate were highly sought after by home seekers. The five-room flats typically drew more applicants than there were available units. This is despite Bidadari's past as a grave site, which some have drawn similarities t...

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DeFi & Token Companies Leverage AsiaPresswire’s Press Release Distribution in Indonesia

Jakarta, Indonesia - Indonesia is a new battlefield for DeFi & Token giants. They leverage AsiaPresswire's Indonesia press release distribution services to build their brand image and draw awareness of investors. Marketers in the DeFi & Token industry are recognizing the value of the digital trend in Indonesia as it relates to content campaigns and branding purposes. By analyzing customer and internal data in Indonesia, businesses can optimize their operational procedures and effectively serve wider audiences. For DeFi & Token company executives, AsiaPresswire's Indonesia Press Release Distribution Platform offers effective content marketing channels through its large networks of varied downstream partners. To achieve their marketing target in Indonesia, content marketers and SEO specialists will need to take advantage of the potential that data science possesses in relation to campaigns, according to Sammy Tisa, CEO of CryPlusTo. In a recent press release in Indonesian language, CryPlusTo discussed the importance of business and customer data and how said data can be crucial when developing campaigns and navigating an industry. CryPlusTo went on to mention how these da...

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Twelve Cupcakes to join food workers union

SINGAPORE - The Food, Drinks and Allied Workers Union (FDAWU) announced on Friday (Feb 26) its successful unionisation of Twelve Cupcakes, after current and former owners of the home-grown pastry chain came under fire for underpaying foreign staff. The move was taken after the majority of Twelve Cupcakes' workers voted for it in a secret ballot administered by the Ministry of Manpower. The union, which is affiliated to the National Trades Union Congress, will work closely with the management to improve workers' well-being at the workplace, uplift wages and upskill the workers in preparation for the economy's recovery, said FDAWU general-secretary Tan Hock Soon. "This resounding victory reaffirms the workers' desire for the union to improve their welfare and work prospects," he added. FDAWU endeavours to partner more food and beverage companies and workers to uplift both the business and the workforce while helping them recover from the impact of Covid-19, said Mr Tan. It represents more than 55,000 workers currently. In a Facebook post on Friday, NTUC secretary-general Ng Chee Meng thanked the team at FDAWU and NTUC staff who visited the Twelve Cupcakes outlets around Singapore to ...

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BYD to Help Kyoto Reach Japan’s 2050 Carbon Neutral Goal

KYOTO, Japan, Feb 26, 2021 - (ACN Newswire) - On February 24, BYD Japan Co., Ltd. (BYD), Keihan Bus Co., Ltd. (Keihan Bus) and The Kansai Electric Power Co., Inc. (Kansai Electric Power) announced a tripartite deal in Kyoto, Japan, which will see the three parties work together to help the city achieve Japan's 2050 carbon neutrality target and build a carbon-free society.Representatives at the event: Mr. Hanada Shinsaku, Executive Vice President of BYD Japan; Mr. Kazuya Suzuki, President, Representative Director of Keihan Bus; Mr. Kenichi Fujino, Assistant General Manager, Sales and Marketing Division of Kansai Electric Power (from left to right).Kyoto's famous sightseeing bus loop line (Kyoto Station - Shichijo Keihan-mae - Umekoji - Hotel Emion Kyoto)The BYD J6 BusBeginning in 2021, Keihan Bus and Kansai Electric Power will launch the first batch of 4 BYD J6 buses on Kyoto's famous sightseeing bus line (Kyoto Station - Shichijo Keihan-mae - Umekoji - Hotel Emion Kyoto), as part of a five-year demonstration operation to further promote pure electric public transportation in Japan. This will also become the country's first loop line operated solely by electric buses.By analyzing ve...

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Woman convicted of abusing Myanmar maid, who was left with bruises and hearing loss

SINGAPORE - A 51-year-old woman was on Friday (Feb 26) convicted of two counts of abusing her maid, in attacks which left the Myanmar national with bruises and the loss of hearing in her left ear. Both incidents occurred in 2017 at Gayathri Iyer's home at the Pebble Bay condominium in Tanjong Rhu Road. District Judge Tan Jen Tse convicted the Singaporean of two maid abuse charges after a trial. She was, however, acquitted of two other counts of maid abuse as the judge found that the maid's evidence in these instances had not been "unusually convincing". Gayathri is represented by lawyer Amarjit Singh Sidhu and her bail was set at $15,000. She will be sentenced on March 17. For each count of assaulting a maid, an offender can be jailed for up to three years and fined up to $7,500. More on this topic Related Story Fatal abuse of Myanmar maid: Govt to review 3 areas to ensure it doesn't happen again Related Story Courts & Crime: Read more stories Correction note: An earlier version of this story had the wrong picture of the offender. This has been removed. We are sorry for the error.

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NextGen Blockchain Platforms Self-Organize to Win Government Contracts

Washington, D.C., Feb 26, 2021 - (ACN Newswire) - Over the past year, blockchain development communities have turned their attention towards winning government contracts. There is a huge opportunity presented by increased government spending on blockchain projects. According to Bloomberg Government BGOV200 Report, federal government spending reached $597 Billion in 2019. However, since new businesses face barriers gaining direct access to government contracts, many have joined the Government Blockchain Association (GBA) to introduce their cutting-edge blockchain platforms to the public sector. Traditionally government program managers choose to work with the same few legacy companies. For example, there are currently over 4.1 million US Federal government contractors but of the $597 billion in prime contracts awarded in FY19, the top 10 government contractors received $173.4 billion according to Bloomberg Government. However, the COVID-19 Global Pandemic was a catalyst that necessitated governments from around the world look at bold and innovative new ways to solve problems from a more diverse community.In March of 2020 the US Department of Health and Human Services hosted a virtua...

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Olam plans to list food ingredients business by first half of 2022

SINGAPORE (REUTERS) - Agribusiness giant Olam International, which is dividing its portfolio of diverse products into two new operating businesses, said on Friday (Feb 26) it plans to list its food ingredients segment by the first half of next year. The carve-out and separation of Olam Food Ingredients (OFI), which includes its cocoa, coffee and edible nuts businesses, and Olam Global Agri (OGA), which includes grains and animal feed, edible oils, rice and cotton, is estimated to be completed by the end of 2021. Olam, in which Singapore state investor Temasek Holdings is the biggest shareholder, flagged the plan in January last year. The company is pursuing similar strategic options for OGA, it said. Olam also reported that net profit for the 2020 full year fell 22.3 per cent to $245.7 million due to an impairment charge. Operational profit after tax and minority interests, which excludes exceptional items, rose 36 per cent to $677.8 million. "We are seeing market conditions and sentiments beginning to improve as economies snap back from the worst impacts of COVID-19 in 2020 and we expect this favourable market environment to continue to improve in 2021," said CEO Sunny Verghese. M...

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It’s Gates versus Musk as world’s richest spar over bitcoin

NEW YORK (BLOOMBERG) - Unless you're the world's richest person, you shouldn't be buying bitcoin. That's the message from Bill Gates - the third richest. With a rally of more than 400 per cent over the past year, bitcoin has become increasingly mainstream, and everybody including prominent investors and policy makers have been talking about it. The world's on-again, off-again richest person, Elon Musk, recently invested US$1.5 billion (S$2 billion) in the cryptocurrency through his company, Tesla Inc., and said bitcoin would soon be accepted for payments. For Mr Gates, it's not something Main Street should buy into - plus it's bad for the environment as mining the coins requires a lot of energy. "Elon has tons of money and he's very sophisticated, so I don't worry that his bitcoin will sort of randomly go up or down," Mr Gates said in an interview with Bloomberg Television's Emily Chang. "I do think people get bought into these manias who may not have as much money to spare. My general thought would be that if you have less money than Elon, you should probably watch out." Mr Musk himself has repeatedly boosted bitcoin on Twitter and other platforms. Mr Musk, who's worth US$189.6 bi...