SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.

1. Singapore's inflation dips to 1.2 per cent in July on lower car costs. The cost of private road transport, which includes car prices, declined 1.6 per cent in July over the same month last year, reversing from a 2.8 per cent increase in June.

2. Record high tax collection of $41.6b last year as arrears fall to all-time low. The amount is 0.5 per cent higher than the $41.4 billion collected in the previous financial year.

3. Seven industrial units at Bukit Merah for sale with $10m price tag. The units are located in Kewalram House and range in size from 2,100 sq ft to 4,300 sq ft.