Hong Kong-based Atlas Capital Asset Management has expanded its multi-family office and external asset management business, while Singapore’s Choco Up has launched an accounts payable financing product.
Atlas Capital expands multi-family office platform
Hong Kong-based Atlas Capital Asset Management has expanded its multi-family office (MFO) and external asset management (EAM) business, appointing former DBS Bank (Hong Kong) executive Alex Cheung as strategic advisor as the firm steps up its push into private wealth management.
The appointment marks the latest phase in Atlas Capital’s transformation from a single family office into an investment management firm serving ultra-high-net-worth individuals, family offices, and sophisticated investors across Asia.
The company said it has been building its MFO and EAM capabilities over the past two years in response to rising demand for institutional investment expertise paired with tailored wealth solutions.
Cheung brings more than three decades of banking experience to the role. He will work with Atlas Capital’s leadership team to expand its private wealth platform, forge strategic partnerships and support the firm’s long-term growth. His most recent position was as head of Institutional Banking Group and alternate chief executive of DBS Bank (Hong Kong).
“Atlas Capital has built a distinctive investment platform founded on institutional investment expertise and an entrepreneurial mindset,” Cheung said. “I look forward to working closely with Terry, Kin C, and the team to further develop the firm’s Multi-Family Office and External Asset Management platform, strengthen strategic partnerships and support its long-term growth ambitions.”
Atlas Capital said the expansion builds on the integration of the LVS Wealth Management team in 2024. Led by Sabrina Tse, the team helped establish the firm’s external asset management platform and client servicing model, laying the groundwork for its broader private wealth offering.
Choco Up rolls out AP financing product
Singapore-based alternative financing platform Choco Up has launched an accounts payable (AP) financing product, expanding its working capital offering for small and medium-sized enterprises (SMEs).
The new facility provides businesses with up to S$2 million ($1.5 million) to finance supplier payments, complementing Choco Up’s existing accounts receivable (AR) financing business—previously branded as invoice financing—which now advances up to 90% of unpaid invoices with funding limits of up to S$5 million per company.
Choco Up said the combined offering is designed to help SMEs bridge working capital gaps created by mismatched payment terms, where suppliers typically require payment within 30 days, while customers may take between 60 and 120 days to settle invoices.
The company also pointed to industry data showing slow payments in Singapore rose to 44.39% in the fourth quarter of 2025, further straining businesses’ cash flows.
The financing products are aimed at sectors with heavy procurement needs and project-based business models, including manufacturing, marine and offshore, logistics, engineering, healthcare suppliers, wholesale, B2B technology and professional services.
“These businesses often have to commit significant upfront resources to procure materials, fulfil orders, or deliver projects, while receiving customer payments only months later,” said Percy Hung, founder and CEO of Choco Up
