Singapore: SPRING’s S$2b scheme; Call Levels-DBS Vickers pact; New Migme app

Visual of Singapore downtown nightscape. Credit: Flickr/digitalpimp

Fintech startup Call Levels has launched a co-branded app with DBS Vickers, while media firm migme has launched a a Android mobile client aimed at enhancing its offerings. In addition, SPRING Singapore has launched an S$2 billion loan programme targeted at small and medium enterprises (SMEs).

SPRING launches S$2bn loan scheme for Singapore SMEs & startups

SPRING Singapore, a statutory board of the Singapore government responsible for helping enterprises grow, has launched an S$2 billion ($1.45 billion) loan programme.

This programme, called thee SME Working Capital Loan Programme, is aimed at supporting SMEs over the next three years and are offered by 12 participating financial institutions (FIs). Under the terms of the schemes, SMEs will be eligible to receive loans of up to S$300,000 ($218,000), with SPRING underwriting 50 per cent of the loan default risk with the FIs involved.

The loan programme is part of Singapore’s Budget 2016 and is aimed at facilitating the medium and long term economic restructuring occurring in the city-state.

A recent Singapore Business Federation (SBF) study, the National Business Survey 2015/2016, uncovered local enterprises encountering financing issues (i.e. rising cost of bank loans, difficulties in renewing financing, etc), even as they planned to increase investment to expand business operations for 2016/2017.

In an official statement,SBF chief executive Ho Meng Kit commented: “SMEs, by virtue of their scale, often face obstacles obtaining credit from banks and financial institutions. The SME Working Capital Loan offers a welcome relief for some of these SMEs, enabling them to address their immediate financial concerns as they look for growth opportunities.”

Call Levels partners with DBS Vickers to provide investor info

Fintech venture Call Levels has launched co-branded app-as-service enabling DBS Vickers customers to access proprietary market monitoring service and price alerts for SGX equities.

Offered to more than 300,000 DBS Vickers clients, Call Levels states that as usage increases, the collaboration will enable Call Levels to harness real-time data analytics to “change the way DBS Vickers customers and Call Levels users engage with the financial market.”

Speaking on the development, Lim Kok-Ann, CEO of DBS Vickers, said, “The partnership complements our research expertise in bringing valuable insights to our customers. By providing opportunities for big data analytics to uncover trading patterns and predict market trends, the data may also validate research recommendations or identify investor interest in particular sectors or industries.”

Migme launches new Android mobile client

Singapore-based and ASX-listed digital media company migme Limited has launched a new mobile client for Android with a new platform for the easy discovery of games and apps 

According to CEO Steven Goh, the new client, discovery platform will enhance user experience making it seamless and engaging.

Goh said,“This is a big milestone for the company. It means we can create a combined experience with migme and other games and application developers, to deliver a competitive social and messaging experience to Snapchat, Facebook, Instagram, WeChat, Line and many others.”

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