Singapore: SeD plans new share placement to CEO, scrip soars


SeD shares rose following news of a private placement increasing the equity interest of their CEO to Chang Heng Fai, to just under 50%.

Singapore freezes BSI banker’s accounts as part of 1MDB probe

The individual responsible for dealings between Swiss wealth manager BSI’s Singapore unit and entities linked to Malaysian state investment fund 1MDB will ask a Singapore court to release money from his bank accounts, sources familiar with the matter said on Tuesday. The sources, who declined to be named due to the sensitivity of the… Read more »

Singapore can teach Hong Kong on how to become a startup powerhouse

Hong Kong has elements that can enable it to overcome current weaknesses and emerge as a powerhouse. However, for that, it would need to take a series of steps, and learn from its neighbours like Singapore.

Singapore: Affle appoints Matteo Chiampo as the MD for its apps platform

Aimed at developing its app business, Singapore-based mobile platform company Affle has appointed Matteo Chiampo as the Managing Director for its apps platform, Affle AppStudioz. Matteo had ealier led the startup phase of Telenor Myanmar Mobile Financial Services, served as the CEO of Axind Software and the COO of Eko… Read more »

Singapore lowers investment target amid uncertain global outlook

Singapore lowered its target for investment this year as the city state contends with uncertain global economic conditions and weaker overseas demand hurts its manufacturing sector. The government forecasts S$8 billion ($5.6 billion) to S$10 billion in fixed-asset investment commitments this year, the Economic Development Board said Tuesday, compared with… Read more »

Singapore: Healthcare firm CordLife invests $5.9m in CellResearch Corporation

Cordlife has invested an additional US$5.9 million in the form of a redeemable convertible note into CellResearch Corporation.

Civmec completes acquisition of Australia’s Forgacs in $14.6m deal

Civmec has completed the acquisition of Australian shipbuilder Forgacs in a US$14.6 million deal.

Singapore: Carousell poaches Airbnb Asia head Chai Jia Jih as VP to lead global growth

Based at Carousell’s Singapore headquarters, Chai will be working closely with the co-founders as part of the leadership team.

Tech blog e27 restructures, more than 50% of team laid off

Singapore-based web technology and startup news portal e27 has engaged in a restructuring exercise and laid off half of its staff.

Singapore: Olam announces new COO, CFO

Singapore-based commodities giant Olam International has elevated its executive director – finance and business development, A Shekhar, to the post of executive director and group chief operating officer. Shekhar will now assist Co-founder and Group CEO Sunny Verghese in overseeing all aspects of Olam’s business. Shekhar has worked for 24 years with… Read more »