Singapore tech firm survives China to return to Asean
With ambitions for an IPO, ADERA has trained its attention on the unbanked potential in South-east Asia.
DOING business in China's ultra-competitive tech sector for over three decades has cultivated an "eat or be-eaten" mindset in Singapore-based tech firm ADERA.
With ambitions for an initial public offering down the road, ADERA has now trained its attention on the potential in South-east Asia, as financial institutions and government agencies here ramp up digital services to bring more into the financial system, said a senior executive.
As it is, ADERA's survival instinct has been honed from quickly shifting from its cushy card manufacturing business into secured data handling and digital automation.
ADERA was once focused on smartcard manufacturing in China, and claimed a leadership position. Formerly known as Jing King Tech Group, ADERA was producing over 300 million cards a year at the peak of its business in the 2000s, with a core fo…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Syngenta to withdraw China IPO application on weak market: sources
Chinese firms’ fundraisings in limbo as IPOs scrutinised at home and abroad
China’s Huawei continues rebound with strongest earnings growth since 2019
Hatten Land gets notice of default, letter of demand for RM14 million, appoints financial adviser
ComfortDelGro wins contracts to run buses in Manchester
Sam Bankman-Fried, at sentencing, acknowledges FTX customers have suffered