Singapore: Memstar seeks recovery of RTO deposit, Uber to launch UberEats

Memstar Technology is seeking to recover its $5 million refundable deposit for an RTO of Longmen Group, while Uber is planning to launch a food delivery service, UberEats, in Singapore.


Logistics solutions startup OpenPort closes Series A, to push into Indonesia

Mobile logistics solutions provider OpenPort has secured a Series A investment led by SIG Susquehanna and Caldera Pacific Ventures.


Fundamentals are right for Singapore to be global startup centre: Andrew Wildblood, Telstra

He, however, observed that it was critical for entrepreneurs to have a global outlook in building ventures that could scale outside Singapore. “If Singapore is to become a leader in innovation, it is going to need its startups and entrepreneurs to take their products to the world,” he added.


GIC, Silver Lake close strategic investment in US genealogy firm Ancestry, valued at $2.6b

Following the transaction, Silver Lake and GIC will each hold equal minority ownership positions in Ancestry. The Permira funds, Spectrum Equity and Ancestry management remain as meaningful equity investors.


Singapore: Fintech startup Jirnexu raises $3m Series A led by Digital Media Partners, others

Fintech startup Jirnexu (formerly Saving Plus), which operates in Singapore and Malaysia, has raised $3 million in Series A funding. This investment takes their total funding to $4.5 million.


Infocomm Development Authority says Singapore will offer S$2.82b in ICT tenders this year

The IDA says that the government of Singapore will be tendering out S$2.82 billion worth of ICT contracts for FY2016.


Singapore Dealbook: More foreign ventures set shop, Yangzijiang fully acquires CSMT

More foreign-owned business ventures are being registered in Singapore, while Yangzijiang Shipbuilding is taking full ownership of its Singapore subsidiary, CS Marine Technology.


SG Digest: Kimberly-Clark’s innovation lab; Nera divests payments arm; Circles.Life new service

CPG firm Kimberly-Clark has launched a digital innovation centre in Singapore, Nera Telecoms has divested its payments unit and Circles.Life has launched in Singapore offering digitally-oriented mobile services.


ASX-listed Oil Search to acquire Singapore-based IOC, deal valued at $2.2b

Commenting on the transaction, Oil Search chairman Rick Lee said, “Oil Search believes that the acquisition of InterOil represents an excellent outcome and enables both companies to benefit from the value created through the commercialisation of the gas resources in PRL 15. “


INSEAD endorses launch of alumni-focused INSEADERS incubator in Singapore

International graduate business school INSEAD is launching a global incubator in Singapore called INSIDERS, helmed by two INSEAD alumni who are veteran entrepreneurs.