Daily Briefing: MOM requires approval for work pass holders from Malaysia; Mobile ordering platform Eatsy halts operations

And ARA Asset Management completes acquisition of investment manager Venn Partners.

From Human Resources Online:

Singapore’s Ministry of Manpower (MOM) will require all new and existing work pass holders and their dependants, who are planning to enter Singapore from Malaysia, to obtain its approval before commencing their journey.

This is applicable regardless of their mode of travel into the country, and will apply to existing work pass holders currently out of Singapore, as well as In-Principle Approval holders who have yet to enter the country.

Once they enter Singapore, they will be placed on a mandatory 14-day stay at home (SHN) notice. Employers will also be required to declare to MOM that they have arranged for suitable housing premises for these employees, and made appropriate arrangements for food during the duration of their SHN.

Exemptions will be made for Malaysians and work pass holders conveying essential services or supplies, as agreed upon by the Singapore-Malaysia Special Working Committee.

Read more here.

From e27:

Mobile ordering platform Eatsy has announced that it will halt all operations from 1 April until further notice in a push-notification to all users yesterday.

Claiming negative business impacts resulting from COVID-19, Eatsy informed all customers that they must redeem any cashback they have accrued by March 31.

Mobile ordering service Waitrr COO Tim Davies commented: “We are saddened to hear the news. This couldn’t have come at a worse time for Eatsy’s restaurant partners who we know are all suffering as a result of COVID-19.”

Waitrr allows the automation of order taking and payment processes, aiming to enable restaurants to increase the capacity of their staff so they can provide personalised service to their guests.

Read more here.

From DealStreetAsia:

ARA Asset Management has completed the acquisition of a majority stake in Venn Partners, a specialist investment manager in European real estate private debt, according to a press statement.

The European company, which will be renamed as ARA Venn, will combine the two companies’ expertise to establish a global real estate credit platform. ARA will provide capital to drive Venn Partners’s expansion in the real asset-backed credit markets in the UK as well as broader Continental Europe and other geographies.

The acquisition of Venn Partners is ARA’s first venture into European real estate credit, noted Mark Ebbinghaus, CEO of ARA Europe, and the newly appointed chairman of ARA Venn.

Ebbinghaus joins Venn’s existing management team, which continues to own a significant stake in the business.

Read more here.