Orchard Credit's new headquarters
Auto financing group Orchard Credit (OC) has revamped its facility in 1 Chang Charn Road to become a full-fledged used car centre. With more than 5,000 sq ft of display area, it is a more concerted direction for the business, which has up to now been selling used cars on an ad-hoc basis.
Revamped at a cost of about $500,000, the building will also be OC's corporate headquarters as well as a wine-storage facility.
Founded in 1976, OC has branched out into property development, restaurants (including Michelin-starred Corner House) and wines. Co-founder Robert Heng, 69, also set up an incubator programme at the new headquarters for budding entrepreneurs, who get to use the space rent-free. If an idea shows promise, OC will provide seed money.
Mr Heng says: "We believe there are many bright young people out there. Not all of them will have the opportunity to start out on their own. We want to provide that opportunity because we know how tough it is."
The businessman started out as a Fiat salesman more than 40 years ago. He later set up OC, which disburses loans from banks including Citibank, Maybank and DBS.
Subaru sets record
The WRX STI Type RA NBR Special (left), a modified version of Subaru's high-performance, all-wheel- drive four-door, has set a new lap record for a saloon at the 20.6km Nurburgring Nordschleife race track in Germany - six minutes and 57.5 seconds, verified by track officials.
The car's modifications include a turbo 2-litre engine boosted to more than 600bhp, a rally-spec gearbox, extremely grippy tyres and a specially engineered aerodynamics package.
Ford's one-off lorry
The American carmaker created an F-22 F-150 Raptor (left), inspired by the United States Air Force's Lockheed Martin F-22 Raptor fighter jet, for a charity auction where it fetched US$300,000 (S$409,000).
The special features of the unique truck include a 545bhp 3.5-litre V6 engine, carbon-fibre bodywork, custom wheels, upgraded brakes, a 1,500-watt audio system, a 1.3-million candela exterior lighting system and F-22 jet design cues.
Volkswagen buses on parade
The four-day Volkswagen Bus Summer Festival (left) in Wolfsburg, Germany, concluded with a 350-vehicle parade comprising all six generations of the cult Volkswagen Bus.
Leading the parade was a 1965 T1 model owned and driven by the chief executive officer of Volkswagen Commercial Vehicles, Mr Eckhard Scholz.
David Ting, with additional reporting by Christopher Tan