United Overseas Bank (UOB) announced on February 12 that its allocation of S$3 billion to provide companies, especially small- and medium-sized enterprises (SMEs), in Singapore with relief assistance to tide over the negative impact of the COVID-19 outbreak on their business. In the...
DBS announced on 13 February that it will introduce a range of liquidity relief measures and other initiatives to help businesses, retail customers and communities impacted by the COVID-19 situation. Liquidity relief package for SMEs In early February, DBS conducted a dipstick poll of about...
The Singapore Economic Development Board (EDB) secured investment commitments in 2019 that exceeded its forecast for the year, reflecting companies’ confidence in Singapore despite global uncertainties. These amounted to S$15.2 billion in Fixed Asset Investments (“FAI”) and S$9.0 billion in Total Business Expenditure per annum (“TBE”) in...
Standard Chartered announced on 28 January 2020 its investment into Contour, a blockchain-based open industry platform that will initially focus on digitally creating, exchanging, approving and issuing Letters of Credit (LCs), following the full commercialization of its offering and appointment of CEO Carl Wegner.
Standard Chartered announced in January 2020 the launch of SC GPI Track, a publicly accessible portal that offers the ability to trace all cross-border payments cleared through the Bank’s major clearing centers to its clients, as well as to their corporate and retail clients. This makes them the...
Beyond consortium has launched a bid for a digital full bank license from MAS, with a focus on SMEs. The consortium comprises V3 Group, EZ-Link, property developer Far East Organization and Temasek-subsidiary Heliconia Capital Management. Other notable members include the Singapore Business Federation (SBF) and Mitsui Sumitomo...
Razer Fintech, the financial technology arm of Razer Inc, a lifestyle brand for gamers, announced that it has submitted its application for the Digital Full Bank License to be issued by the Monetary Authority of Singapore (“MAS”). Should Razer Fintech and its consortium be...
CIMB Islamic Bank Berhad (“CIMB Islamic”) unveiled late last year an initiative in support of small and medium enterprises (SMEs) in Malaysia looking to grow their business in the global halal market. Through CIMB HalalBizReady, the proposition provides financing packages that help businesses become compatible with the requirements...
The Monetary Authority of Singapore (MAS) and the Bank for International Settlements (BIS) launched the BIS Innovation Hub Centre in Singapore in November 2019. This is the BIS’s first expansion of its global footprint in 17 years. The BIS Innovation Hub will foster innovation and greater...
United Overseas Bank (UOB) announced on 26 November its collaboration with three homegrown solar companies, SolarGy, SolarPVExchange and Sunseap Group, to accelerate the use of solar energy in Singapore. The tie-up is part of the Bank’s U-Solar program which connects the entire solar power value chain...