Martinez explains that the $51,000 support level is critical for investors to watch.&nbsp; If <a href="https://www.nanovest.io/kripto/btc/?utm_source=Vritimes&amp;utm_medium=pressRelease">Bitcoin</a> falls below this level, there is a significant risk that the price could continue to decline, potentially reaching $40,600. Such a decline could result in substantial losses for investors who have not taken preemptive measures. This prediction underscores the importance of the $51,000 support level in maintaining Bitcoin’s price stability and highlights that the <a href="https://www.nanovest.io/kripto/?utm_source=Vritimes&amp;utm_medium=pressRelease">crypto market</a> remains highly volatile and susceptible to drastic changes. Martinez advises investors to remain vigilant and consider the risks associated with the current market uncertainty.

A drop below this support level could have a significant impact on <a href="https://www.nanovest.io/kripto/btc/?utm_source=Vritimes&amp;utm_medium=pressRelease">Bitcoin (BTC)</a> and potentially affect the broader crypto market. If BTC fails to maintain this critical support level, increased selling pressure could lead to further declines, not only impacting Bitcoin’s price but also potentially causing a domino effect on other crypto assets. This impact could create instability across the market, reduce investor confidence, and trigger panic selling.

Currently, Bitcoin is trading at $54,630, reflecting a 3.54% decrease over the last 24 hours, according to CoinMarketCap data. This price drop reflects market concerns about Bitcoin’s ability to hold its key support level. The high volatility and negative sentiment surrounding this price drop emphasize the need for caution among investors. Given the potential widespread impact of this decline, it is crucial for market participants to closely monitor price movements and market sentiment in the coming days.

CryptoPotato reports that over the last five trading days, the crypto market experienced a massive outflow of $277.2 million. This situation has further exacerbated the market's existing pressures. The outflow reflects investor concerns and uncertainties, leading them to withdraw their funds from the crypto market. Despite various influencing factors, the sheer volume of this outflow indicates a significant lack of confidence in the current market stability.

Interestingly, this event occurred despite September 2 being a national holiday in the United States. National holidays are generally expected to provide some respite from market pressures, but this time, the situation was different. The large outflow still occurred, signaling that investor uncertainty and concerns are not limited by regular trading days. This highlights the fragility of current market sentiment and how global factors can influence investment decisions even during trading activity breaks.

Overall, this report underscores the importance of understanding market dynamics and factors that can influence short-term price movements. Market participants need to stay alert and be prepared for potential volatility resulting from these massive outflows. It also serves as a reminder for investors to continuously monitor the latest developments and make investment decisions based on thorough analysis.

During this period, investors made substantial withdrawals in several days. On Tuesday, they withdrew $287.8 million, followed by $37.2 million on Wednesday. Withdrawals continued with $211.1 million on Thursday and reached $170 million on Friday. Among the entities affected, FBTC Fidelity recorded the largest losses, adding to the market’s existing burden.

The total outflow during this period reached a significant $706.1 million, extending the negative streak to eight consecutive days. This is the longest recorded period of decline, indicating deep concerns among investors and impacting the overall market stability. The continuous withdrawal trend reflects widespread uncertainty and the potential long-term impact on the dynamics of the crypto market.

For novice traders looking to start investing in Bitcoin, now might be an opportune time. You can track Bitcoin prices through the Nanovest app, which offers a comprehensive selection of crypto assets. Nanovest provides up to 600 crypto asset options and allows investors to start with a small capital of just 5,000 rupiah.

If you're interested in crypto asset investment, <a href="https://www.nanovest.io/?utm_source=Vritimes&amp;utm_medium=pressRelease">Nanovest</a> could be a suitable choice as it offers over 2,000 U.S. stocks and more than 600 crypto assets. Take advantage of the current market movement by investing through Nanovest! For those interested in using Nanovest, the app is available on both the <a href="https://nanovest.onelink.me/dcRw/nanomedia">Play Store and the App Store.</a>

On-chain analyst Ali Martinez has recently issued an important warning regarding the current Bitcoin market conditions. Based on a two-month chart analysis, the TD Sequential indicator, commonly used to identify potential turning points in market trends, shows concerning sell signals. This signal suggests a possible reversal from the bullish trend that has recently strengthened. This warning comes amidst ongoing uncertainty in the crypto market, where sharp price fluctuations have become commonplace.

 Martinez explains that the $51,000 support level is critical for investors to watch.&nbsp; If <a href="https://www.nanovest.io/kripto/btc/?utm_source=Vritimes&amp;utm_medium=pressRelease">Bitcoin</a> falls below this level, there is a significant risk that the price could continue to decline, potentially reaching $40,600. Such a decline could result in substantial losses for investors who have not taken preemptive measures. This prediction underscores the importance of the $51,000 support level in maintaining Bitcoin’s price stability and highlights that the <a href="https://www.nanovest.io/kripto/?utm_source=Vritimes&amp;utm_medium=pressRelease">crypto market</a> remains highly volatile and susceptible to drastic changes. Martinez advises investors to remain vigilant and consider the risks associated with the current market uncertainty.A drop below this support level could have a significant impact on <a href="https://www.nanovest.io/kripto/btc/?utm_source=Vritimes&amp;utm_medium=pressRelease">Bitcoin (BTC)</a> and potentially affect the broader crypto market. If BTC fails to maintain this critical support level, increased selling pressure could lead to further declines, not only impacting Bitcoin’s price but also potentially causing a domino effect on other crypto assets. This impact could create instability across the market, reduce investor confidence, and trigger panic selling.Currently, Bitcoin is trading at $54,630, reflecting a 3.54% decrease over the last 24 hours, according to CoinMarketCap data. This price drop reflects market concerns about Bitcoin’s ability to hold its key support level. The high volatility and negative sentiment surrounding this price drop emphasize the need for caution among investors. Given the potential widespread impact of this decline, it is crucial for market participants to closely monitor price movements and market sentiment in the coming days.CryptoPotato reports that over the last five trading days, the crypto market experienced a massive outflow of $277.2 million. This situation has further exacerbated the market's existing pressures. The outflow reflects investor concerns and uncertainties, leading them to withdraw their funds from the crypto market. Despite various influencing factors, the sheer volume of this outflow indicates a significant lack of confidence in the current market stability.Interestingly, this event occurred despite September 2 being a national holiday in the United States. National holidays are generally expected to provide some respite from market pressures, but this time, the situation was different. The large outflow still occurred, signaling that investor uncertainty and concerns are not limited by regular trading days. This highlights the fragility of current market sentiment and how global factors can influence investment decisions even during trading activity breaks.Overall, this report underscores the importance of understanding market dynamics and factors that can influence short-term price movements. Market participants need to stay alert and be prepared for potential volatility resulting from these massive outflows. It also serves as a reminder for investors to continuously monitor the latest developments and make investment decisions based on thorough analysis.During this period, investors made substantial withdrawals in several days. On Tuesday, they withdrew $287.8 million, followed by $37.2 million on Wednesday. Withdrawals continued with $211.1 million on Thursday and reached $170 million on Friday. Among the entities affected, FBTC Fidelity recorded the largest losses, adding to the market’s existing burden.The total outflow during this period reached a significant $706.1 million, extending the negative streak to eight consecutive days. This is the longest recorded period of decline, indicating deep concerns among investors and impacting the overall market stability. The continuous withdrawal trend reflects widespread uncertainty and the potential long-term impact on the dynamics of the crypto market.For novice traders looking to start investing in Bitcoin, now might be an opportune time. You can track Bitcoin prices through the Nanovest app, which offers a comprehensive selection of crypto assets. Nanovest provides up to 600 crypto asset options and allows investors to start with a small capital of just 5,000 rupiah.If you're interested in crypto asset investment, <a href="https://www.nanovest.io/?utm_source=Vritimes&amp;utm_medium=pressRelease">Nanovest</a> could be a suitable choice as it offers over 2,000 U.S. stocks and more than 600 crypto assets. Take advantage of the current market movement by investing through Nanovest! For those interested in using Nanovest, the app is available on both the <a href="https://nanovest.onelink.me/dcRw/nanomedia">Play Store and the App Store.</a>

System / Website / Application development

Legal / Patent / Intellectual Property

Mobile app

Securities / FX / Investment Trusts

Cryptocurrency

On-chain analyst Ali Martinez has recently issued an important warning regarding the current Bitcoin market conditions. Based on a two-month chart analysis, the TD Sequential indicator, commonly used to identify potential turning points in market trends, shows concerning sell signals. This signal suggests a possible reversal from the bullish trend that has recently strengthened. This warning comes amidst ongoing uncertainty in the crypto market, where sharp price fluctuations have become commonplace.



Bitcoin Drops to $53,000 Due to ETF Sell Pressure  Heading Into the Weekend

Singapore – 28 June 2023 – NDR Medical Technology, an AI-empowered interventional robotics company, today announced that the ANT-X has been granted FDA 510(k) clearance by the U.S. Food and Drug Administration (FDA). This clearance makes ANT-X the world’s first automated robotic device to aid in needle positioning and alignment to access the kidney for Percutaneous Nephrolithotomy (PCNL), a urology procedure for kidney stone removal. It is designed to empower clinicians to perform image-guided Fluoroscopic percutaneous access with speed and precision.

Improving treatment outcomes for patients with kidney stones

Approximately 10 percent of the American population is affected by kidney stones in their lifetime1, and there is a pressing need for effective treatment. Among treatment options available for patients, PCNL stands out as the preferred treatment of choice for patients2, as it tends to see higher stone-free rates compared with procedures such as ureteroscopy3. Despite its benefits, PCNL represents only an estimated 7-8 percent of stone procedures conducted in the US today 4. With FDA approval secured for the ANT-X, clinicians will be able to carry out PCNL procedures safely and effectively for a larger number of patients.

“As urologists, we recognise that achieving percutaneous access to the renal collecting system is a crucial step that significantly impacts the success of kidney stone surgery,” said Dr Kazumi Taguchi, Assistant Professor and head of research of Nephro-urology at Nagoya City University, “Despite advancements in surgical techniques, we are still faced with the daunting task of performing this procedure, which demands considerable time and effort.”

With the advancement of PCNL techniques such as mini PCNL and ultra-mini PCNL, more patients can be discharged on the same day without the need for stents, tubing, or any remaining stones5.

"Recent trends show an increase in the use of PCNL targeting stones up to 2cm, while Mini PCNL has been proven to minimise adverse events. We are confident that the adoption of ANT-X reduces the complexity of such procedures.” said Alan Goh, CEO, NDR Medical Technology.

In the US, current reimbursement codes cover procedures for stone sizes up to 2cm or larger, with new updates to the codes allowing urologists to be incentivised for performing their own access in PCNL procedures6. With ANT-X, urologists can now confidently perform image-guided access, which was previously challenging without assistance.

NDR Medical Technology also recently placed second in the MedTech category at SelectUSA Tech 2021, a showcase for entrepreneurs at the SelectUSA Investment Summit 2021, organised by the US Department of Commerce.

Unlocking new possibilities in the future of healthcare

Beyond urology procedures, the versatility of ANT-X extends to other indications. In Singapore, the company successfully conducted its first Neurospine procedure, discoplasty, in June 2023. Driven by a vision to revolutionise the standard of care, NDR Medical Technology is seeking partners and investors to join in the mission of creating breakthrough solutions that transform the future of healthcare.

“Achieving FDA 510(k) approval gives NDR Medical Technology access to the largest healthcare market in the world, and is a critical step ahead for the company,” said Hsien-Hui Tong, Executive Director – Investments, SGInnovate. “This milestone is a sign of consistent good traction made by the team as it continues to expand the applications of its technology, and deliver value to its customers, partners and investors.”

<h1>NDR Medical Technology’s ANT-X Granted FDA Clearance, Paving the Way for Image-guided Surgeries</h1>ANT-X is an interventional robot that leverages C-arm fluoroscopy to help clinicians achieve swift and accurate percutaneous needle placement.Singapore – 28 June 2023 – NDR Medical Technology, an AI-empowered interventional robotics company, today announced that the ANT-X has been granted FDA 510(k) clearance by the U.S. Food and Drug Administration (FDA). This clearance makes ANT-X the world’s first automated robotic device to aid in needle positioning and alignment to access the kidney for Percutaneous Nephrolithotomy (PCNL), a urology procedure for kidney stone removal. It is designed to empower clinicians to perform image-guided Fluoroscopic percutaneous access with speed and precision.Improving treatment outcomes for patients with kidney stonesApproximately 10 percent of the American population is affected by kidney stones in their lifetime1, and there is a pressing need for effective treatment. Among treatment options available for patients, PCNL stands out as the preferred treatment of choice for patients2, as it tends to see higher stone-free rates compared with procedures such as ureteroscopy3. Despite its benefits, PCNL represents only an estimated 7-8 percent of stone procedures conducted in the US today 4. With FDA approval secured for the ANT-X, clinicians will be able to carry out PCNL procedures safely and effectively for a larger number of patients.“As urologists, we recognise that achieving percutaneous access to the renal collecting system is a crucial step that significantly impacts the success of kidney stone surgery,” said Dr Kazumi Taguchi, Assistant Professor and head of research of Nephro-urology at Nagoya City University, “Despite advancements in surgical techniques, we are still faced with the daunting task of performing this procedure, which demands considerable time and effort.”Increased market size in the USWith the advancement of PCNL techniques such as mini PCNL and ultra-mini PCNL, more patients can be discharged on the same day without the need for stents, tubing, or any remaining stones5."Recent trends show an increase in the use of PCNL targeting stones up to 2cm, while Mini PCNL has been proven to minimise adverse events. We are confident that the adoption of ANT-X reduces the complexity of such procedures.” said Alan Goh, CEO, NDR Medical Technology.In the US, current reimbursement codes cover procedures for stone sizes up to 2cm or larger, with new updates to the codes allowing urologists to be incentivised for performing their own access in PCNL procedures6. With ANT-X, urologists can now confidently perform image-guided access, which was previously challenging without assistance.NDR Medical Technology also recently placed second in the MedTech category at SelectUSA Tech 2021, a showcase for entrepreneurs at the SelectUSA Investment Summit 2021, organised by the US Department of Commerce.Unlocking new possibilities in the future of healthcareBeyond urology procedures, the versatility of ANT-X extends to other indications. In Singapore, the company successfully conducted its first Neurospine procedure, discoplasty, in June 2023. Driven by a vision to revolutionise the standard of care, NDR Medical Technology is seeking partners and investors to join in the mission of creating breakthrough solutions that transform the future of healthcare.“Achieving FDA 510(k) approval gives NDR Medical Technology access to the largest healthcare market in the world, and is a critical step ahead for the company,” said Hsien-Hui Tong, Executive Director – Investments, SGInnovate. “This milestone is a sign of consistent good traction made by the team as it continues to expand the applications of its technology, and deliver value to its customers, partners and investors.”
NDR Medical Technology was founded in 2015 and developed the patented Automated Needle Targeting system (ANT) that can facilitate safe and accurate needle punctures to organs such as the lungs, kidney, pancreas, and spine. Integrating AI and robotics, we empower surgeons to conduct pioneer image-guided robotic procedures with improved accuracy, precision, and safety for patients.

Our first interventional robot (ANT-X) integrates C-arm fluoroscopy and AI software to assist clinicians in percutaneous needle placements and can be used in a wide range of procedures such as urology, neurology, and orthopedics. ANT-C is a smart lesion targeting system that AI uses CT-can images to automate lesion detection, needle path planning and needle targeting with unparalleled precision and accuracy. Applications include usages in pulmonology and hepatology. As a cut above the rest, our robots cost less than half of the current technology out in the market and can function without the need for external sensors.

With a renewed vision to lead AI-empowered interventional robotics, we strive to create revolutionary breakthroughs in the industry and transform the healthcare landscape.Evangeline Chia
evangeline@ndrmedical.com

Medical / Hospital

STEM (Science, Tech, Engineering, Math)

Local companies

Startups

ANT-X is an interventional robot that leverages C-arm fluoroscopy to help clinicians achieve swift and accurate percutaneous needle placement.

NDR Medical Technology’s ANT-X Granted FDA Clearance, Paving the Way for Image-guided Surgeries

Savills’ executive director of research and consultancy, Alan Cheong, commented that the weakening rental is a relief for people seeking to find accommodation, as rental rates “in more districts start to soften”.&nbsp;

In Cheong’s view, the impact to landlords is marginal as their overall yields remain healthy. Despite weakening in rents, healthy overall yields allow landlords to “effectively counterbalance higher interest costs”. For investors, Cheong added that their financial positions are still well protected as the rental decline remains moderate.

By unit type, the average median rent for a three-bedroom home decreased 3.2 per cent month on month. Year on year, the average median rent increased by 17.8 per cent.&nbsp;

In terms of the sub-market with the highest median monthly rents, Savills noted that District 4 was ranked the highest at S$9,300 per month. This includes areas such as Sentosa, Mount Faber, Keppel and Telok Blangah.&nbsp;

This was followed by District 1 (Chinatown, Boat Quay, Havelock Road, Marina Square, Raffles Place, Suntec City) at S$8,500 and District 9 at S$7,500 (Cairnhill, Killiney, Leonie Hill, Orchard, Oxley).

Marcus Loo, chief executive officer of Savills Singapore, said he believes the period of rising private home rents is over as more homes come onto the market with the passing of the pandemic.&nbsp;

He added that as economic headwinds strain tenants’ budgets, the rental correction will “allow the market to reset to a more sustainable foundation for the longer-term good of the economy”.

<h1>Singapore’s private residential rents fall 2.2% in May: Savills</h1>THE average median rent for private non-landed homes in Singapore declined 2.2 per cent in May 2023, in contrast to the 2.4 per cent increase in the previous month, the Savills May 2023 Rental Guide indicated.

Savills said the softening of rentals for this one-to-four bedroom category was due to an increase in new housing supply in 2023, as more projects are near completion and construction delay issues have been resolved.

It also noted that the challenging macroeconomic situation has compelled companies to tighten their budgets for staff. Cost-cutting has extended to measures such as a smaller budget for expatriates’ rental use as well as staff layoffs.Savills’ executive director of research and consultancy, Alan Cheong, commented that the weakening rental is a relief for people seeking to find accommodation, as rental rates “in more districts start to soften”.&nbsp;In Cheong’s view, the impact to landlords is marginal as their overall yields remain healthy. Despite weakening in rents, healthy overall yields allow landlords to “effectively counterbalance higher interest costs”. For investors, Cheong added that their financial positions are still well protected as the rental decline remains moderate.By unit type, the average median rent for a three-bedroom home decreased 3.2 per cent month on month. Year on year, the average median rent increased by 17.8 per cent.&nbsp;In terms of the sub-market with the highest median monthly rents, Savills noted that District 4 was ranked the highest at S$9,300 per month. This includes areas such as Sentosa, Mount Faber, Keppel and Telok Blangah.&nbsp;This was followed by District 1 (Chinatown, Boat Quay, Havelock Road, Marina Square, Raffles Place, Suntec City) at S$8,500 and District 9 at S$7,500 (Cairnhill, Killiney, Leonie Hill, Orchard, Oxley).Marcus Loo, chief executive officer of Savills Singapore, said he believes the period of rising private home rents is over as more homes come onto the market with the passing of the pandemic.&nbsp;He added that as economic headwinds strain tenants’ budgets, the rental correction will “allow the market to reset to a more sustainable foundation for the longer-term good of the economy”.Savills Singapore is a real estate company specialising in the sale, leasing, and renting of commercial and residential properties.Savills Singapore
enquiry@savills.com.sg
+65 6836 6888

Residential / Condominium

THE average median rent for private non-landed homes in Singapore declined 2.2 per cent in May 2023, in contrast to the 2.4 per cent increase in the previous month, the Savills May 2023 Rental Guide indicated.

Savills said the softening of rentals for this one-to-four bedroom category was due to an increase in new housing supply in 2023, as more projects are near completion and construction delay issues have been resolved.

It also noted that the challenging macroeconomic situation has compelled companies to tighten their budgets for staff. Cost-cutting has extended to measures such as a smaller budget for expatriates’ rental use as well as staff layoffs.

Singapore’s private residential rents fall 2.2% in May: Savills

The bag charge applies to about 400 large supermarkets, out of 600&nbsp;supermarkets&nbsp;islandwide. While cashiers will be doling out the charges at manned counters, several operators are leaving it up to customers to pay for plastic carriers that are available to them at self-checkout counters.

Such&nbsp;honesty schemes are&nbsp;being used by major operators such as&nbsp;NTUC FairPrice,&nbsp;which has over 100 stores islandwide, DFI Retail Group, which has 75 supermarkets under the Cold Storage and Giant brands, and Prime Supermarket, with 24 outlets.

Meanwhile, Sheng Siong is introducing self-checkout kiosks with&nbsp;<a href="https://www.eco-business.com/tags/plastic/">plastic</a>&nbsp;bag dispensers that add the fees straight to customers’ receipts, instead of relying on shoppers to key in the number of bags they use.

The retailer is targeting&nbsp;introducing 30 such counters at six shops by next week, and 50 counters by year end. Unlike its competitors, few of Sheng Siong’s 68 supermarkets have existing self-checkout options. A spokesperson declined to reveal the setup costs of the bag dispensers.

Environmental policy observer Audrey Tan, in response to news&nbsp;of FairPrice’s plan, said it is an “unfortunate case of one step forward and 10 steps back”, and feels like&nbsp;<a href="https://www.eco-business.com/tags/greenwashing/">greenwashing</a>.

Tan wrote on her LinkedIn social media page that past trials with bag charges should have made clear if customers can be trusted to pay up.

FairPrice had trialled bag charges at a few stores in 2019. A survey by the supermarket then found that just over 70 per cent of shoppers supported the initiative, with the rest believing free shopping bags&nbsp;are an expected&nbsp;free service, and that they are needed to line trash bins at home.

There are other bags available, such as bread packaging, to store wet waste, Tan told Eco-Business, adding she wonders why more supermarkets&nbsp;do not adopt plastic bag dispensers for self-checkout booths.

Environmental advocate Robin Rheaume, who runs a Singapore recycling information website, said there may be a “relatively high” number of people – she expects about 30 per cent – not paying for bags at self-checkout counters.

They could either skip the charge as a personal protest, or genuinely forget to pay in a rush, especially with “a queue of people breathing down their neck”, Rheaume said.

The bag charge would unlikely make a meaningful impact on&nbsp;<a href="https://www.eco-business.com/tags/climate/">climate change</a>&nbsp;– Singapore incinerates its waste which generates carbon emissions&nbsp;– Rheaume said, but added it may have a knock-on impact on people’s sustainability behaviour.

“So how the system is implemented, and not simply having a bag charge, is worth thinking about,” she added.

Shoppers took about 820 million plastic bags from supermarkets a year, according to a 2018 study by the Singapore Environment Council. They make up part of the 200 thousand tonnes of disposables that residents tossed in 2020, against nearly 6 million tonnes of total waste produced that year, according to the National Environment Agency.

Rheaume suggested putting barcodes on plastic bags, which she had seen implemented in Iceland. A spokesperson for Prime Supermarket in Singapore said its plastic bags will come with barcodes for the five-cent charge.

Legislation for Singapore’s plastic bag charge, passed March this year, states that retailers “must” collect at least five cents for each disposable carrier bag.

Retailers could be fined up to S$10,000 (US$7,400) and jailed up to three months for flouting the rule. But if hauled to court, they are allowed to argue their innocence by showing that “reasonable care” was taken to enforce the bag charge. It has led to questions online on the legality of the supermarkets’ honour systems in implementing the plastic bag charge.

Tiong Teck Wee, a partner at law firm WongPartnership, said it is not possible to say whether supermarkets have complied with the&nbsp;laws governing the plastic bag charge, just based on them adopting an honour system.

Tiong noted that there are already staff assisting shoppers at self-checkout counters today.

“It is hard to say at the moment where on the spectrum supermarkets are going to land [on enforcing the plastic bag charge], but they do not appear to be on either extreme [of being too stringent or&nbsp;lax],”&nbsp;he&nbsp;said.

But Meryl Koh, director of intellectual property and dispute resolution at law firm Drew &amp; Napier, said retailers could indeed be breaching the law if they cannot charge for every plastic bag used.

Retailers opting for honour systems could find it hard to prove they have taken reasonable care, since some shoppers can slip through the system, though it is still unclear what “reasonable care” actually means in practice, Koh said.

Retailers could get staff to do additional checks on customers’ plastic bag payments, or hand out bags to shoppers only after payment, Koh suggested.

A Singapore lawyer, speaking anonymously due to existing work with retail clients, said a sizable mismatch between the number of bags dispensed and charge collected could denote&nbsp;a lack of reasonable care.

Retailers need to report such figures annually to the government. They could be asked to implement stronger measures if a large mismatch is reported, the lawyer said.

A FairPrice Group spokesperson said frontline staff have been trained to be “vigilant” in getting customers to adhere to the charge, and that checkout areas are already manned by security cameras.

The spokesperson said FairPrice will monitor its honour-based system and assess if modifications are needed.&nbsp;FairPrice had earlier said no extra staff will be rostered at the self-checkout counters to monitor that shoppers pay their plastic bag fees,&nbsp;<a href="https://www.straitstimes.com/singapore/environment/honour-system-for-bag-charge-at-fairprice-self-checkouts-from-july-3" target="_blank">according</a>&nbsp;to local newspaper The Straits Times.

A DFI Retail Group spokesperson said all team members are briefed and trained on necessary procedures around the bag charge. A Prime Supermarket spokesperson said staff are on-hand to assist customers at self-checkout counters.

Singapore’s National Environmental Agency (NEA) said it will do compliance checks, and that the information retailers publish on bags dispensed and fees collected needs to be audited. The agency will direct operators with incomplete or inaccurate information to rectify or recompute their numbers, its spokesperson noted.

Dozens of jurisdictions globally charge for plastic bags, and some have likewise grappled with getting customers to pay up.&nbsp;

Hong Kong doubled its plastic bag charge to HK$1 (US$0.12) at the end of last year. The government told retailers to put plastic bags further from self-checkout counters, and conducted plainclothes spot checks,&nbsp;<a href="https://www.scmp.com/yp/discover/news/hong-kong/article/3204200/hongkongers-pay-hk1-plastic-bag-supermarkets-next-week-operators-given-1-month-grace-period" target="_blank">according</a>&nbsp;to newspaper South China Morning Post.

Officials in Denver, Colorado in the United States have also&nbsp;<a href="https://original.newsbreak.com/@david-heitz-561257/2842322015387-shoppers-not-paying-for-bags-at-self-checkouts-official-says" target="_blank">admitted</a>&nbsp;some shoppers jump the bag charge at self-checkout counters, where they self-declare how many bags they are taking.

Single-use plastics are major culprits in global marine pollution. They are also produced from fossil fuels, the dominant cause of&nbsp;man-made global warming.

In Singapore, the concern is that incinerating such waste adds to its carbon emissions, and takes up space in its only landfill, which&nbsp;the authorities are trying to extend the lifespan of past 2035. Only 6 per cent of&nbsp;Singapore’s plastics were recycled last year and the city-state’s domestic recycling rate dropped from 13 per cent to 12 per cent last year.

Free plastic bags have been slowly disappearing in Singapore. Many convenience store chains already have plastic bag charges in place. Furniture retailer Ikea&nbsp;pulled free bags from its megastores in the city-state a decade ago.

<h1>Singapore eco-advocates question efficacy of supermarkets’ ‘honour’-based plastic bag charge</h1>In a week’s time, Singapore shoppers without their own shopping bags will need to top up supermarket purchases with spare change, as a five-cent (US$0.04) plastic bag charge goes live across the country.

Or some of them could try to slip through the “honour”-based system that many retailers have chosen to implement at the ubiquitous self-checkout counters, environmentalists fear, denting the effectiveness of a major initiative to cut down on single-use plastics in the city-state. Plastic bags are one of the major contributors to Singapore’s domestic plastic waste stream.The bag charge applies to about 400 large supermarkets, out of 600&nbsp;supermarkets&nbsp;islandwide. While cashiers will be doling out the charges at manned counters, several operators are leaving it up to customers to pay for plastic carriers that are available to them at self-checkout counters.Such&nbsp;honesty schemes are&nbsp;being used by major operators such as&nbsp;NTUC FairPrice,&nbsp;which has over 100 stores islandwide, DFI Retail Group, which has 75 supermarkets under the Cold Storage and Giant brands, and Prime Supermarket, with 24 outlets.Meanwhile, Sheng Siong is introducing self-checkout kiosks with&nbsp;<a href="https://www.eco-business.com/tags/plastic/">plastic</a>&nbsp;bag dispensers that add the fees straight to customers’ receipts, instead of relying on shoppers to key in the number of bags they use.The retailer is targeting&nbsp;introducing 30 such counters at six shops by next week, and 50 counters by year end. Unlike its competitors, few of Sheng Siong’s 68 supermarkets have existing self-checkout options. A spokesperson declined to reveal the setup costs of the bag dispensers.Environmental policy observer Audrey Tan, in response to news&nbsp;of FairPrice’s plan, said it is an “unfortunate case of one step forward and 10 steps back”, and feels like&nbsp;<a href="https://www.eco-business.com/tags/greenwashing/">greenwashing</a>.Tan wrote on her LinkedIn social media page that past trials with bag charges should have made clear if customers can be trusted to pay up.FairPrice had trialled bag charges at a few stores in 2019. A survey by the supermarket then found that just over 70 per cent of shoppers supported the initiative, with the rest believing free shopping bags&nbsp;are an expected&nbsp;free service, and that they are needed to line trash bins at home.There are other bags available, such as bread packaging, to store wet waste, Tan told Eco-Business, adding she wonders why more supermarkets&nbsp;do not adopt plastic bag dispensers for self-checkout booths.Environmental advocate Robin Rheaume, who runs a Singapore recycling information website, said there may be a “relatively high” number of people – she expects about 30 per cent – not paying for bags at self-checkout counters.They could either skip the charge as a personal protest, or genuinely forget to pay in a rush, especially with “a queue of people breathing down their neck”, Rheaume said.The bag charge would unlikely make a meaningful impact on&nbsp;<a href="https://www.eco-business.com/tags/climate/">climate change</a>&nbsp;– Singapore incinerates its waste which generates carbon emissions&nbsp;– Rheaume said, but added it may have a knock-on impact on people’s sustainability behaviour.“So how the system is implemented, and not simply having a bag charge, is worth thinking about,” she added.Shoppers took about 820 million plastic bags from supermarkets a year, according to a 2018 study by the Singapore Environment Council. They make up part of the 200 thousand tonnes of disposables that residents tossed in 2020, against nearly 6 million tonnes of total waste produced that year, according to the National Environment Agency.Rheaume suggested putting barcodes on plastic bags, which she had seen implemented in Iceland. A spokesperson for Prime Supermarket in Singapore said its plastic bags will come with barcodes for the five-cent charge.<h4>Are honour-based systems legal?</h4>Legislation for Singapore’s plastic bag charge, passed March this year, states that retailers “must” collect at least five cents for each disposable carrier bag.Retailers could be fined up to S$10,000 (US$7,400) and jailed up to three months for flouting the rule. But if hauled to court, they are allowed to argue their innocence by showing that “reasonable care” was taken to enforce the bag charge. It has led to questions online on the legality of the supermarkets’ honour systems in implementing the plastic bag charge.Tiong Teck Wee, a partner at law firm WongPartnership, said it is not possible to say whether supermarkets have complied with the&nbsp;laws governing the plastic bag charge, just based on them adopting an honour system.Tiong noted that there are already staff assisting shoppers at self-checkout counters today.“It is hard to say at the moment where on the spectrum supermarkets are going to land [on enforcing the plastic bag charge], but they do not appear to be on either extreme [of being too stringent or&nbsp;lax],”&nbsp;he&nbsp;said.But Meryl Koh, director of intellectual property and dispute resolution at law firm Drew &amp; Napier, said retailers could indeed be breaching the law if they cannot charge for every plastic bag used.Retailers opting for honour systems could find it hard to prove they have taken reasonable care, since some shoppers can slip through the system, though it is still unclear what “reasonable care” actually means in practice, Koh said.Retailers could get staff to do additional checks on customers’ plastic bag payments, or hand out bags to shoppers only after payment, Koh suggested.A Singapore lawyer, speaking anonymously due to existing work with retail clients, said a sizable mismatch between the number of bags dispensed and charge collected could denote&nbsp;a lack of reasonable care.Retailers need to report such figures annually to the government. They could be asked to implement stronger measures if a large mismatch is reported, the lawyer said.A FairPrice Group spokesperson said frontline staff have been trained to be “vigilant” in getting customers to adhere to the charge, and that checkout areas are already manned by security cameras.The spokesperson said FairPrice will monitor its honour-based system and assess if modifications are needed.&nbsp;FairPrice had earlier said no extra staff will be rostered at the self-checkout counters to monitor that shoppers pay their plastic bag fees,&nbsp;<a href="https://www.straitstimes.com/singapore/environment/honour-system-for-bag-charge-at-fairprice-self-checkouts-from-july-3" target="_blank">according</a>&nbsp;to local newspaper The Straits Times.A DFI Retail Group spokesperson said all team members are briefed and trained on necessary procedures around the bag charge. A Prime Supermarket spokesperson said staff are on-hand to assist customers at self-checkout counters.Singapore’s National Environmental Agency (NEA) said it will do compliance checks, and that the information retailers publish on bags dispensed and fees collected needs to be audited. The agency will direct operators with incomplete or inaccurate information to rectify or recompute their numbers, its spokesperson noted.Dozens of jurisdictions globally charge for plastic bags, and some have likewise grappled with getting customers to pay up.&nbsp;Hong Kong doubled its plastic bag charge to HK$1 (US$0.12) at the end of last year. The government told retailers to put plastic bags further from self-checkout counters, and conducted plainclothes spot checks,&nbsp;<a href="https://www.scmp.com/yp/discover/news/hong-kong/article/3204200/hongkongers-pay-hk1-plastic-bag-supermarkets-next-week-operators-given-1-month-grace-period" target="_blank">according</a>&nbsp;to newspaper South China Morning Post.Officials in Denver, Colorado in the United States have also&nbsp;<a href="https://original.newsbreak.com/@david-heitz-561257/2842322015387-shoppers-not-paying-for-bags-at-self-checkouts-official-says" target="_blank">admitted</a>&nbsp;some shoppers jump the bag charge at self-checkout counters, where they self-declare how many bags they are taking.Single-use plastics are major culprits in global marine pollution. They are also produced from fossil fuels, the dominant cause of&nbsp;man-made global warming.In Singapore, the concern is that incinerating such waste adds to its carbon emissions, and takes up space in its only landfill, which&nbsp;the authorities are trying to extend the lifespan of past 2035. Only 6 per cent of&nbsp;Singapore’s plastics were recycled last year and the city-state’s domestic recycling rate dropped from 13 per cent to 12 per cent last year.Free plastic bags have been slowly disappearing in Singapore. Many convenience store chains already have plastic bag charges in place. Furniture retailer Ikea&nbsp;pulled free bags from its megastores in the city-state a decade ago.Established in 2009, Eco-Business is Asia Pacific’s largest media and business intelligence organisation dedicated to sustainable development and ESG performance.

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In a week’s time, Singapore shoppers without their own shopping bags will need to top up supermarket purchases with spare change, as a five-cent (US$0.04) plastic bag charge goes live across the country.

Or some of them could try to slip through the “honour”-based system that many retailers have chosen to implement at the ubiquitous self-checkout counters, environmentalists fear, denting the effectiveness of a major initiative to cut down on single-use plastics in the city-state. Plastic bags are one of the major contributors to Singapore’s domestic plastic waste stream.