RIDE-HAILING firm Grab is “confident” of meeting the digital banking licence requirements that include “a path towards profitability” on a five-year projection, the unicorn told The Business Times on Thursday. The requirements, spelled out on Thursday by the Monetary Authority of Singapore (MAS), also state that a digital full bank, in taking in retail deposits, […]
Read MoreSINGAPORE: Singapore’s central bank has kicked off the application process for up to five new digital bank licences and issued detailed guidelines for potential contenders. The entry of new players could lead to the biggest shake-up in two decades in a market dominated by local banks DBS Group Holdings Ltd, Oversea-Chinese Banking Corp and United […]
Read MoreTHE agri-plays on the Singapore bourse have lost some sheen this eventful month, with the chief culprits being operational headwinds – weak commodity prices and Indonesia’s dry spell – and less so the recent move by the European Union (EU) to hit Indonesia, the world’s top palm oil producer, with biodiesel levies. As far as […]
Read MoreOn the heels of a dismal economic growth prediction this year and even the prospect of a looming recession, Singapore firms also may accumulate more bad debt as the Republic’s trade-dependent economy experiences ripples from ongoing Sino-US trade tensions, Bloomberg reported yesterday (27 Aug). Shaun Langhorne, restructuring lawyer and partner in Singapore at Hogan Lovells Lee & Lee, told Bloomberg that “a […]
Read MoreSINGAPORE (BLOOMBERG) – Cryptocurrency-related financial services are hard to find in Singapore, as digital assets are a market traditional lenders have tended to avoid. Sygnum, one of the first crypto companies to obtain a conditional banking and securities dealer license from Swiss regulators, is hoping to fill that gap. Sygnum, which is based in both […]
Read MoreSINGAPORE’s housing market isn’t turning out to be the beneficiary many may have thought from Hong Kong’s increasingly fraught protests. Instead, investors are looking to cheaper property markets like Malaysia, Thailand and Taiwan. “People here tend to think there are only two cities in the world — Hong Kong and Singapore, ” said Alan Cheong, […]
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