Fintechs' moves to acquire Indonesian banks will rev up competition: Fitch

RECENT moves by tech firms to acquire small Indonesian banks will add more colour to Asean's financing landscape, but are unlikely to pose a material challenge to the biggest incumbent lenders in the near term, said Fitch Ratings.

Fintechs' plans to buy Indonesian banks will raise competition: Fitch

RECENT moves by tech firms to acquire small Indonesian banks will add more colour to Asean's financing landscape, but are unlikely to pose a material challenge to the biggest incumbent lenders in the near term, said Fitch Ratings.

UOBAM completes acquisition of Vietnam fund manager

UOB Asset Management (UOBAM) announced on Monday that it has completed the acquisition of VAM Vietnam Fund Management Joint Stock Company first reported over a year ago, in a move that will rev up its presence in Asean.

UOB completes acquisition of Vietnam fund manager

UOB Asset Management (UOBAM) announced on Monday that it has completed the acquisition of VAM Vietnam Fund Management Joint Stock Company first reported over a year ago, in a move that will rev up its presence in Asean.

UOB prices capital securities referencing Sora

UOB announced on Friday that it has successfully priced capital securities with a reset coupon rate that references the Singapore Overnight Rate Average Overnight Indexed Swap (Sora-OIS) rate, which is believed to be the first in Singapore.

CROWDFUNDING

Curtain falls on CoAssets crowdfund platform, but no systemic risk seen in P2P lending

SINGAPORE-BASED crowdfunding platform CA Funding - formerly known as CoAssets - has thrown in the towel and is in the process of winding down, but there is no sign it is a harbinger of the collapse of others in the peer-to-peer lending space, said industry watchers.

CROWDFUNDING

Bitter wait for CoAssets noteholders as investments turn sour

IT is likely to be a long-drawn affair for CoAssets' promissory noteholders to claw back their investments - if they were to get back any at all, said industry watchers.

Investors left in the lurch as investment platform CoAssets runs into trouble

THE Monetary Authority of Singapore (MAS) will review and take necessary action if CoAssets' licensed subsidiary - now known as CA Funding - has breached regulations.

ANT GROUP FALLOUT

China clampdown on Ant Group could distract it from overseas expansion

ANT Group's latest regulatory woes in China are unlikely to derail its digital bank plans here in Singapore, but the recent clampdown on the Chinese tech giants may hurt the advancement of the digital banking ecosystem in the long run, said analysts.

OUTLOOK 2021

Singapore digital banks face hard slog but incumbents can't sit pretty either

SINGAPORE'S first digital banks will need to focus on building trust and managing acquisition costs to succeed in the long run, analysts say.

OCBC extends more than S$1b in Sora-linked home loans since launch

MORE than S$1 billion of home loans linked to Singapore Overnight Rate Average (Sora) - an alternative interest rate benchmark - was extended by OCBC Bank in less than six months since its launch, the lender said on Tuesday.

OCBC extended more than S$1b in Sora-linked home loans since launch

MORE than S$1 billion of home loans linked to Sora (Singapore Overnight Rate Average) - an alternative interest rate benchmark - was extended by OCBC Bank in less than six months since its launch, the lender said on Tuesday.

Appeal on removal of EH-Reit's manager not successful: MAS

THE Monetary Authority of Singapore (MAS) confirmed on Sunday that the appeal from the shareholder of Eagle Hospitality Reit's (EH-Reit) manager regarding the directive on its removal has not been accepted.

Appeal on removal of EH-Reit’s manager not successful: MAS

THE Monetary Authority of Singapore (MAS) confirmed on Sunday that the appeal from the shareholder of Eagle Hospitality Reit's (EH-Reit) manager regarding the directive on its removal has not been accepted.

67% stake in Tianjin Zhong Xin's controlling shareholder to be acquired for an undisclosed sum

TIANJIN Zhong Xin Pharmaceutical Group announced on Sunday that Jinhushen Biological Medical Science and Technology will be acquiring a 67 per cent stake in its controlling shareholder Tianjin Pharmaceutical Holdings for an undisclosed sum.

Singapore Medical Group in talks with third party on possible share transaction, in response to query from sponsor

SINGAPORE Medical Group is in discussions with a third party regarding a possible transaction involving the company's shares, it said in a filing to the Singapore Exchange late on Friday.

MAS to further extend US$60b swap facility with US Fed

THE Monetary Authority of Singapore (MAS) will again extend its US$60 billion swap arrangement with the US Federal Reserve through Sept 30, 2021. In turn, the MAS USD Facility will also be extended till then, offering up to US$60 billion of funding to banks, to facilitate lending to businesses...

MAS to further extend US$60b swap facility with US Federal Reserve

THE Monetary Authority of Singapore (MAS) will again extend its US$60 billion swap arrangement with the US Federal Reserve through Sept 30, 2021. In turn, the MAS USD Facility will also be extended till then, offering up to US$60 billion of funding to banks, to facilitate lending to businesses...

BT EXCLUSIVE

Citibank Singapore to double AUM by 2025 in big wealth push

CITIBANK Singapore aims to step up the pace of growth of its wealth business here, with ambitions to double its assets under management (AUM) and to triple the number of clients by 2025, said a top executive.

StanChart closer to building digital-only bank in Singapore

STANDARD Chartered Singapore was awarded enhanced "Significantly Rooted Foreign Bank" (SRFB) privileges by the Monetary Authority of Singapore (MAS) on Thursday, paving the way for it to set up a digital-only bank.

StanChart Singapore moves big step closer to digital-only bank

STANDARD Chartered Singapore was awarded enhanced "Significantly Rooted Foreign Bank" (SRFB) privileges by the Monetary Authority of Singapore on Thursday, paving the way for it to set up a digital-only bank.

SFFXSWITCH 2020

Singapore makes leap in cross-border payment arrangement with Thailand

SINGAPORE is leading the charge on cross-border payments and settlements, with several trail-blazing moves aimed at solving the perennial issues of speed and cost.

PayNow and Thailand's PromptPay to link up next year in trailblazing move

FROM mid-2021, users of Singapore's PayNow and Thailand's equivalent PromptPay will be able to send money instantly and securely across the two countries with their mobile phone numbers at "competitive rates", said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).

S-E Asia's Internet economy on cusp of 'massive transformation': Alphabet CEO

CLOSING the digital divide and deepening partnerships between governments and businesses are key for a more inclusive digital economy that brings the benefits of the Internet to everyone, said Sundar Pichai, chief executive of Google's parent company, Alphabet.

South-east Asia's Internet economy on the cusp of big change, says Alphabet chief

CLOSING the digital divide and deepening partnerships between governments and businesses are key for a more inclusive digital economy that brings the benefits of the Internet to everyone, said Sundar Pichai, chief executive of Google's parent company, Alphabet.