April 16, 2021

Info IEC

Business & Finance Information

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FUNDING Societies, a digital financing platform for small and medium enterprises (SME) in South-east Asia, has launched in Thailand – its fourth market in its six years of operations.

The platform will operate under a debt-crowdfunding licence given by Thailand’s Securities and Exchange Commission (SEC), the SME lender said on Tuesday in a press statement.

The expansion comes after more than a year of working with Thai regulators and planning for market entry, it added.

Funding Societies said it is prepared to provide Thai SMEs with full access to its short-term customisable financing solutions, funded by retail and institutional investors.

Mon, Feb 08, 2021 – 12:50 PM

E-WALLET players Grab Financial Group, Liquid Group and Singtel Dash will now also offer PayNow services – marking the first time the peer-to-peer fund transfer service is made available to non-banks.

A new PayNow proxy called the Virtual Payment Address (VPA) has been created to facilitate fund transfer between bank accounts and these e-wallets, as well as across the e-wallets. This new proxy allows individuals to link their mobile number with an e-wallet offered by non-bank financial institutions (NFIs), while keeping their existing PayNow registration that is linked to a bank account.

VPAs

Singapore

CROWDFUNDING platform Siam Validus, a joint venture between Validus and SCG Distribution, is the first foreign fintech firm to be granted a debenture crowdfunding licence by the Securities and Exchange Commission of Thailand (SEC).

The licence will allow Siam Validus to…

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Singapore

THE buzz behind crypto currencies has charged up a lawsuit in Singapore. A crypto mining firm has claimed that its landlord’s interference with the electricity supply led to trading losses in crypto currencies, with the suit throwing up the question of how such losses can be…

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CROWDFUNDING platform Siam Validus, a joint venture between Validus and SCG Distribution, is the first foreign fintech firm to be granted a debenture crowdfunding licence by the Securities and Exchange Commission of Thailand (SEC).

The licence will allow Siam Validus to support small and medium-sized enterprises (SMEs) via debt crowdfunding, which is a form of peer-to-peer lending through an approved online funding portal.

Unlike equity crowdfunding, investors do not gain shares in the company and fundraisers must repay the loans with interest.

“Many SMEs in Thailand are often unable to access financing to meet cash flow needs, and are unable

Thu, Feb 04, 2021 – 9:51 AM


UPDATED Thu, Feb 04, 2021 – 10:44 AM

DBS has raised its sustainable finance target for 2024 to S$50 billion, which is well over twice of the lender’s previous S$20 billion target for the same year.

The move stems from more companies seeking to advance their corporate sustainability agenda through sustainable financing, said DBS in a media statement issued on Thursday.

“We thought our earlier target of S$20 billion for renewable and other green financing would be a stretch and were greatly heartened at the level of customer interest in moving from

Singapore

SINGAPORE will press ahead with its industry transition to the Singapore Overnight Rate Average (Sora) as the new interest rate benchmark by the end of this year, even as the discontinuation of a key global benchmark – the scandal-tainted London Inter-bank Offered Rate (Libor…

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Tue, Feb 02, 2021 – 2:02 PM

SINGAPORE will press ahead with its industry transition to the Singapore Overnight Rate Average (Sora) as the new interest rate benchmark by the end of this year, even as the discontinuation of a key global rate – the Libor – could be pushed to mid-2023.

This comes as a recent consultation by ICE Benchmark Administration proposed extending the end date for the widely-referenced USD Libor settings to June 30, 2023. It was earlier slated to cease by end-2021.

In a speech, Leong Sing Chiong, deputy managing director (markets & development) at the Monetary

Mon, Feb 01, 2021 – 3:21 PM

SHARES of iFast Corporation on Monday hit a record-high since the mainboard-listed wealth management platform’s initial public offering in December 2014.

The counter reached an intra-day high of S$6.245 as at 9.09am on the day, up 13.3 per cent or S$0.735. As at 3.05pm, iFast shares were trading 12 per cent or S$0.66 higher at S$6.17, with 2.4 million shares changing hands.

The share surge follows the company’s announcement on Saturday that PCCW Solutions – the IT flagship of PCCW Group – won the tender for Hong Kong’s eMPF platform.

iFast is PCCW

Fri, Jan 29, 2021 – 5:50 AM

SMALL and medium enterprises (SMEs) in Singapore’s real estate and construction industries will be able to obtain upfront, collateral-free financing, under a new offering named Really eZFunds.

Proptech startup Really Singapore has partnered peer-to-peer financing platform Validus to enable pre-approved working capital for SMEs that provide products and services to property owners and managers.

The startup, which offers a property management solution that is cloud-based and data-driven, said that its vendor marketplace comprises more than 3,800 suppliers in over 80 categories of services, including landscaping, building supplies, construction works, cleaning services and pest