At least S$36.2M has already been lost in Singapore this year due to investment scams
At least S$36.2 million has been lost to investment scams in Singapore since January 2025, with approximately 470 cases documented, according to the Singapore Police Force (SPF).
Most victims were typically targeted through social media, messaging platforms, and dating apps, including Facebook, Instagram, Telegram, WhatsApp, and even Coffee Meets Bagel.
In a report from the Straits Times yesterday (February 11), the authorities have urged the public to stay vigilant and take precautionary measures to safeguard themselves from these scams.
Here’s how these scammers lure their victims in and what you should take note of.
Behind the scam, how victims are “trapped”
Scammers often begin by building rapport with victims before introducing “investment opportunities,” which may sometimes involve cryptocurrencies.
Victims are then tricked into transferring money and cryptocurrencies to fraudulent trading platforms or the scammer’s personal wallets.
Some victims would initially receive small payouts, deceiving them to continue investing.
Fake websites or applications displaying exaggerated profits would also lure victims into investing larger sums, the police said.
In some cases, victims are targeted by investment advertisements on social media, claiming endorsements from political figures or celebrities. Clicking on these ads will lead them to messaging platforms, where they contact the scammers directly.
Other victims are redirected to fraudulent trading platforms and asked to provide personal details. They then receive calls or messages from scammers pretending to be staff members of investment companies or brokers.
Separately, scammers have also gained some victims by adding them to chat groups or channels.
These groups often claim associations with famous individuals or reputable companies to make the investment appear legitimate. In some cases, “members” of the group may even claim to have profited from the investment, reinforcing the scam.
Key measures & safety tips
To protect scam victims, the Protection from Scams Bill was passed in Parliament on January 7, 2025.
The bill grants the police the ability to issue restriction orders to banks, allowing them to block an individual’s banking transactions if they are suspected of channeling money to scammers.
According to SPF, this measure will enable them to better protect targets of ongoing scams who refuse to believe they are being scammed.
Suspected victims will be restricted from using ATMs, credit services, and PayNow, as well as making in-person, over-the-counter, and money transfer transactions.
To protect yourself from these investment scams, it’s also important to remain cautious and take necessary precautions when making investment decisions. The police have advised the public to:
- Enable privacy settings that prevent unknown users from adding them to group chats;
- Verify the authenticity of the investment company and check for signs of a scam using official sources or websites; and
- Inform the authorities, as well as family and friends, if or when they encounter scams.
Members of the public can also reach out to the ScamShield Helpline at 1799 if they are in doubt.
- Read more articles we’ve written about Singaporean businesses here.
Also Read: S$650 million was lost to scams in 2023. Will AI Deepfakes drive this higher in 2024?
Feature Image Credit: Shutterstock
This S’porean student learnt 3D printing on YouTube, now uses the skill to make & sell lamps
Have you ever picked up something that caught your eye, only to put it back down when you saw the price tag?
It’s a relatable experience for most shoppers—one that Jovi Lim knows all too well. With a passion for interior design and aesthetic home decorations, he often admired unique, designer lighting, but more often than not, these pieces were simply “out of reach” for the 20-year-old.
Determined to take matters into his own hands, he invested in a 3D printer and began experimenting with his own lamp designs at home.
After dedicating countless hours to learning how to bring his designs to life, the Singapore Polytechnic student officially launched his lamp company, Sonogo Design, in September last year—all from his bedroom.
With Sonogo Design, Jovi aims to make “high quality and handcrafted lamps accessible” to Singaporeans.
Designer lamps at affordable prices
When I first visited the brand’s website, I couldn’t help but be impressed—all of their lamps were sold out. A notice on the site mentioned that their last drop had flown off the shelves in just one day.
Still, I couldn’t help but raise an eyebrow at the prices—they were steeper than I had anticipated.
However, Jovi believes that he prices his lamps at a “reasonable rate,” taking into account the craftsmanship, time, design, and effort that go into each piece.
Each lamp could take up to five to nine hours to build, excluding the cleaning up and packaging by hand, which takes another 20 to 30 minutes.
“When compared to other designers, especially as a new entrant in this industry, I believe my lamps are fairly and competitively priced for the value they offer,” Jovi explained. He also pointed out that other designer lamps can often cost as much as S$2,000 each.
Every lamp has its story
When asked about the inspiration behind his lamps, Jovi explained, “I design them based on what I see in my life, and I play around with different shapes and patterns to create the shape of the lamp that reflects the overall idea.”
His Luna lamp, for example, was inspired by the crescent moon—a design Jovi takes great pride in.
There’s a card with a QR code that comes with every lamp, and customers can scan it to find out more about their lamps. Each of them has their own unique story to tell—I want to let people know that I don’t just create random shapes and put a base for it to become a lamp.
Jovi Lim, founder of Sonogo Design
To bring these stories to life, Jovi starts by sketching his ideas, which he then turns into 3D models using design software before conducting several test prints to refine the final version. “I need to ensure that the lamp can actually be brought to life through 3D printing,” he added.
Self-taught skills
Since its launch, Sonogo Design has garnered significant attention, which Jovi attributes to the brand’s strong social media presence.
In just four months, Jovi shared that he has managed to sell over 200 lamps, but his entrepreneurial journey was far from easy.
As a marketing student, Jovi had “never once touched” 3D modelling software before starting Sonogo Design. But after watching YouTube videos on 3D printing, he became fascinated with the process and realised that he could “turn his ideas into reality.”
This led him to invest about S$1,400 into his first 3D printer, using the savings he had mainly accumulated from part-time jobs and internships.
With the 3D printer, he experimented with creating different objects, including miniature cities, toothbrush holders, and pegboard clips. Still, his love for home decorations eventually led him to focus on designing lamps.
Juggling a 9-to-6 internship at that time, Jovi spent late nights teaching himself product design from scratch, creating prototype after prototype through trial and error.
He learnt everything the same way he first discovered 3D printing—by watching YouTube tutorials.
Everything I learnt is sourced from YouTube videos. I wouldn’t say I’m the best at it compared to all the other engineers and professional workers out there, as I still can learn a lot more, but I would say being able to turn my sketches into reality and master the arts of 3D printing is a huge achievement for me.
Jovi Lim, founder of Sonogo Design
A relaunch, then a retail store
According to Jovi, Sonogo Design’s growing social media presence has also attracted attention from “big companies, home decor creators, and 3D printing enthusiasts.”
In addition, showcasing his lamps at events like New Bahru’s Christmas Market has helped expand the brand’s reach to a broader audience.
To keep up with the increasing demand, Jovi has now expanded his setup to four 3D printers.
As Jovi will be enlisting for National Service soon, he is currently focused on raising funds with the goal of opening a physical store once he completes his service.
“For the long term, after finishing National Service, I plan to relaunch Sonogo and establish a dedicated studio space—this studio would not only serve as a workspace for my business but also as a place to connect with customers and showcase my lamps in a physical setting.”
- Learn more about Sonogo Design here.
- Read more articles we’ve written about Singaporean Startups here.
Also Read: Why this S’porean scrapped the old menu at his mum’s 19 Y/O cafe to serve just two items
Feature Image Credit: Sonogo Design
How this new “Magic Mike” club plans to whet the appetite of clubbers in Singapore
The nightlife scene is often described as a place of sin.
While that might be true on some accounts, it has also put a sense of shame, in our opinion, onto the industry. But what’s a little fun without a bit of (f)risk?
This was the mindset behind the opening of Lilibet, a club with KTV rooms, a bar, and an all-male dance troupe reminiscent of Magic Mike. But are they as risque and sleazy as we think?
Inspired by royalty
Lilibet is owned by Shirley Sim and Jessie Ho, who were introduced to each other through mutual friends in the business scene years ago. Shirley, who is the founder of Lilibet, started to develop the idea when the COVID-19 pandemic struck and approached Jessie to collaborate.
“Shirley had been to boys’ clubs with her friends before, and while it wasn’t something she personally enjoyed, she saw the potential for it to be a lucrative and exciting venture if done differently,” explained Jessie, who is currently the CEO of Lilibet.
Now, at this point, if you wonder why the club’s name sounds familiar, it’s because it was inspired by the late British monarch, Queen Elizabeth II’s childhood nickname, which came about as she struggled to pronounce her own name as a child.
“There is this naughty and regal elegance to the name. It couldn’t be a more suitable name than this!” joked Jessie.
Opening a club is no small venture. The duo took two years to “pin down” the club’s concept and bring in dancers from Singapore and overseas, including the local male exotic dance troupe Queen of Hearts.
But that was just the easy part. Not only did they “fight” with four potential nightclubs for their current location at Rendezvous Hotel, but Jessie also claimed that they invested six figures into the business, which came from bootstrapping and contributions from a small group of private investors.
Nevertheless, Lilibet successfully launched on September 10, 2024, and I headed down to experience everything.
Getting royal treatment
While Magic Mike-style performances and stripteases have received mainstream recognition, thanks to the popularity of the 2012 film, it’s seen more as a cultural norm in the West. That’s not to eliminate the virality of similar establishments in Asia, though.
Notably, the Thai Hunks restaurant and the “Wild Wild” musical in Thailand and South Korea, respectively. Nevertheless, one might wonder if Jessie and Shirley were worried about how the club would be received in Singapore.
We were aware of the sensitivities, but we approached Lilibet with a clear vision of sophistication and respectability. By framing our performances as artful and tasteful, and creating an environment that prioritises guest and performer respect, we’ve been able to redefine perceptions and attract a diverse audience.
Customers feel safe at Lilibet. Ours have always been clean fun.
Jessie Ho, CEO of Lilibet
And boy, what fun I’ve had.
Upon entering the club, I was greeted with blue velvet walls, built-in sofas, and a small T-shaped stage. I was led to a sofa right in the middle of the stage (which turned out to be for VIPs), giving me the perfect view.
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When I visited, some of the dancers were warming up on stage, giving a sneak peek of what to expect. / Image Credit: Lilibet -
Lilibet has four karaoke rooms, all of which had portraits of British royalty / Image Credit: Lilibet -
One of the sofa seats, where each table has a different wall fixtures / Image Credits: Lilibet
Before I knew it, it was showtime.
While I will keep it PG here, all I will say is that the dancers kept me on the edge of my seat throughout. Every dance allowed each of them to showcase their charms and hidden talents (one even rapped!)
But what made a lasting impression was the fact that I was genuinely enjoying myself and felt safe throughout, even when the dancers got up close and personal.
I was definitely treated like a queen and left feeling like one.
The royal life comes with high stakes
Turns out I wasn’t the only one who had fun. According to Jessie, the club has earned positive reactions from patrons, gaining a “steady rise” in bookings in three months. “We have [also] achieved our mini goal set, which is ‘Handsome boys, handsome tips!'” she cheekily added.
Yet I also wondered: With the luxurious interior and concept, the cost to maintain it seemed high—how does Lilibet plan to sustain itself in the long term?
Not only do they have to consider rental, operations, employee salaries, and production costs, but they also need to ensure their prices remain competitive and stand out from multiple nightlife establishments in the area.
Unlike typical clubs, there’s also no dance floor, meaning that you can only choose between a sofa or individual seats. While there are no entrance fees, patrons are required to meet a minimum spend and tip. Currently, the minimum tip starts at S$299 per table, while the minimum spend begins at S$399.
While that’s not necessarily the most expensive, not everyone is willing to fork out that much money for a “hot” night, and this change in consumer behaviour has also taken a toll on the Singaporean nightlife scene.
Jessie explained that the prices were set to ensure that Lilibet can continue to offer the experiences it’s known for and that it has onboarded sponsors and brands to defray a portion of the operational costs.
“We wish to break away from the norm of the current Singapore nightlife scene where it is just about the booze, dance floor, and music spinning,” reiterated Jessie.
Their reign has just begun
Since opening less than half a year ago, Lilibet has grown its dance troupe to a septet and has not only caught the eyes of many on social media but also had potential investors knocking on their doors.
While they have yet to secure a deal successfully, Jessie shared that the funds would be used to scale their operations and elevate guest experiences. This includes upgrading their facilities and productions and boosting their marketing efforts.
“Additionally, we would explore new entertainment concepts and bolster our training programmes for both dancers and hosts [to] ensure that Lilibet continues to delight patrons,” she added.
While Jessie clarified that she’s focused on maintaining Lilibet’s profitability, the owners are always exploring growth opportunities and are open to potentially opening another outlet in the future.
“While we don’t have a fixed timeline, our focus is on sustainable growth that aligns with our brand’s vision.”
As someone who is in it to have a good time but is afraid of the sleaze and trouble at clubs, I can say with my whole heart that Lilibet has whetted my appetite for clubbing.
Also Read: How this S’porean DJ trio is revitalising the local club scene with wacky themed parties
Feature Image Credit: Lilibet
A first in 40 yrs, Sheng Siong has partnered with a delivery company to reach more S’poreans
Sheng Siong, Singapore’s third largest supermarket chain, is now available on food delivery app Deliveroo.
According to an announcement on February 10, the two businesses have partnered up so that customers can order from 21 Sheng Siong stores across the island via the app. There are plans underway to expand this to 31 stores islandwide, Deliveroo said.
With this partnership, customers can buy more than 5,000 products from Sheng Siong round the clock. This includes fresh produce, pantry staples, and household essentials. According to the announcement, orders can be delivered within 30 minutes.
Lin Zikai, director of customer and operations at Sheng Siong, said that this is the first time the supermarket chain has partnered with a delivery company.
The supermarket was founded in 1985 by the Lim brothers (Lim Hock Eng, Lim Hock Chee, and Lim Hock Leng). The brothers were helping out at their father’s pig farm in Punggol. Facing an oversupply, Lim Hock Chee and his wife rented a stall at one of the now-defunct supermarket chain stores in Ang Mo Kio to sell chilled pork.
One thing led to the other, and that stall has now grown into one of Singapore’s top retailers.
Deliveroo Singapore general manager Jason Parke shared that ready-to-eat meals still remain central to the platform’s business.
However, the collaboration with Sheng Siong broadens its offerings, allowing Deliverro to better serve its customers, a growing segment of consumers expressing interest in using delivery platforms for grocery and non-food items.
This aligns with the direction that Deliveroo has taken since 2020, having launched grocery delivery with brands including Marks & Spencer, Little Farms, Hao Mart, and now, Sheng Siong.
This win-win collaboration between Sheng Siong and Deliveroo is a step that will help both parties stay competitive and relevant, while offering Singaporeans an easier way to shop.
From February 15 to 28, customers who purchase Sheng Siong’s groceries via Deliveroo can get S$6 off with a S$40 minimum spend.
Also Read: CARiNG’s CNY video reminds us what “home” really means, and it’s not about a place
Featured Image Credit: Sheng Siong / Deliveroo
How this mum-and-daughter duo is tapping into the Pop Mart craze with their new Cheras cafe
These days, competition in Malaysia’s cafe scene can be quite fierce. And Cheras is no exception.
But such hurdles mean nothing when it’s your goal to own a cafe anyways, as is the case for Sam and her mum.
Described by her as accessible and reasonably priced, the duo’s W2 Concept Cafe serves a combination of Japanese, Western, and local dishes.
That, however, is not just what makes their cafe stand out.
It’s the army of figurines staring you down as you eat.
Full circle
Born and raised in Cheras, Sam and her mum spent a lot of time cafe hopping together ever since she was a teen. This was when the idea of opening a cafe first popped into her head.
It would take a few years before that dream would be made a reality. Following her graduation, W2’s co-founder would go on to work in the UK for two years.
Starting off as a bartender, she would later become a Private Assistant for a local restaurant owner. There, she would help translate, deal with legal processes and suppliers, and involve herself in day-to-day operations.
Eventually, she soon found herself taking on a managerial role after helping her former boss open a new branch in the heart of Edinburgh.
All that to say, her short tenure in the UK gave her a wealth of experience despite her young age.
Certainly enough to give her the confidence to open up a cafe with her mum when she returned.
The initial capital for the business was around RM400,000, Sam shared, adding that it was wholly funded by her and her family. It was a combination of her UK-made personal savings as well as her four brothers’ and parents’ personal investments.
Sam noted that the British Pound to MYR exchange rate came as quite the advantage in this regard.
Described as a full-time commitment, Sam personally deals with all operations at W2, solving issues as they come. Her mother, Lee Ai Ling, is in charge of decoration, marketing, and outlook.
“I actually feel like it’s a 360 from our special time together going to cafes and now having this joint venture to owning a cafe with both of our personal elements combined,” she expressed.
An unexpected twist
Taken in full, the cafe’s name actually has a very straightforward meaning.
“W2” stands for Sam’s Chinese name, Wen Wei. As for the “Concept” part of it, that’s even simpler.
“Essentially, the cafe itself is my concept and whatever I’d like it to be!”
And right now, that concept is her mum’s obsession with Pop Mart figurines.
The story behind the two’s collection (that’s now worth about four figures, we’re told) takes us back to the UK when a Pop Mart store had just opened in London’s Chinatown.
“I first bought one blind box which was from the Skullpanda series,” she explained.
For those not in the know, a blind box is a product that is sold with the content inside intentionally obscured. With Pop Mart, customers can get one out of a series of characters with each box, but which they’ll get is entirely up to luck.
One would lead to another, and before she knew it, she was hooked.
“I usually don’t get the ones I want the most, but that’s what makes it all the more addicting!” she added.
And after she introduced the brand to her mother, the rest was history.
The Pop Mart concept has extended far beyond just being decorations for the cafe. A monthly lucky draw event has also been incorporated into the cafe’s operations.
For the month of January, these were three sets of bags, each containing blind boxes.
“In the future, as the cafe is limited on space, we might potentially sell some of the older figurines to bring in newer ones to display,” she commented.
This won’t be any time soon, though, as W2 still has some room to house a few more plastic residents.
Lining their cafe shelves with their collection does come with its concerns, of course. Theft and damage being the two main ones.
But these issues are something that the mother-daughter duo have already mentally prepared for.
“Our main goal is to allow customers to have a great time taking pictures and enjoying our collection,” she noted. “We went into this with the mindset that perhaps in the future they might be damaged or misplaced.”
Luckily for W2, nothing of the sort has happened so far (knock on wood) as all their customers are usually very respectful.
What is an issue, though, is the HR side of things.
“The turnover rate is extremely high in F&B and I’ve had some employees disappear immediately after getting paid their wages,” she said.
Recounting a time during a busy weekend where a staff member disappeared and another had to call in sick, Sam has hired two part-timers since.
“I believe that investing the extra money for a bit more hands will help to avoid customers having a less-than-great experience.”
Never a dull moment
Though they may have lost potential returning customers that day, the co-founder notes that the reception for W2 has generally been positive. Traffic tends to be high during lunch and tea, gradually getting calmer towards the evening.
The focus at the moment is back-to-back seasonal menus, with Valentine’s, Ramadan, and Hari Raya lined up for the near future.
Uniquely, plans for expansion for W2 includes the construction of a retail store within the cafe.
“This would include new, secondhand clothing as well as all of my mother’s personal crafts,” said Sam.
From dreamcatchers to keychains, these projects of her mum can be seen sprinkled throughout the cafe. So, for those interested, do stay tuned.
A little under half a year old at this point in time, W2 Concept Cafe is still very new. With its ever-changing menu, only time will tell what Sam and her team has in store next.
Also Read: CARiNG’s CNY video reminds us what “home” really means, and it’s not about a place
Featured Image Credit: W2 Concept Cafe
