SG Digest: Investor protection changes headed for parliament; Jasper to manages Guangdong projects; IDA-accredited firms for urban project

MAS plans to introduce investor protection amendments, Jasper Investments has reached an in-principle understanding to manage Chinese construction projects and IDA-accredited companies will be able to access to participate in large infrastructure and urban development projects.

Investor protection changes head for parliament

The Monetary Authority of Singapore (MAS) plans to propose legislative amendments aimed to introduce increased protection for high net-worth investors. These changes are to be submitted to the parliament by the 4th quarter this year. They are aimed at granting the capital market investors the option to choose protections available to retail investors.

Currently, Singaporean policy is said to make the assumption rich investors are better informed or have greater means to protect their own interests, and therefore exempts banks from having to provide certain disclosures about financial products that are made to retail investors

Singaporean law states individual investor is a person who has more than SG$2 million ($1.75 million) in personal assets including property, or made at least SG$300,000 ($221 000) of income in the preceding 12 months. In the current state of the law, banks and brokerages dealing with accredited investors are cleared from requirements such as having to provide a prospectus.

The revision will also revise the SG$2 million net personal assets threshold. An investor’s primary home will only be able to contribute up to half of the SG$2 million value, the MAS said.

Jasper Investments announces in-principle understanding with Guangdong’s LuYuan

Investment holding company Jasper Investments has reportedly reached reach an in-principle agreement with Guangdong Zhuhai City LuYuan Construction Engineering (LuYuan) for the management contracts of a number of its infrastructure projects in China.

Jasper Investments indicated dealing with its majority shareholder in raising additional funding to meet the group’s working capital requirements. In 2016’s second quarter, the firm  posted net losses of $111,000. Net losses had amounted to $255 million in the second quarter of 2015.

LuYuan has assigned two of its projects for Jasper’s participation. Among those are marine transportation in the Pearl River Delta Region, as well as land reclamation work off the city of Sanya in prospect of the construction of the new Hainan International Airport.

Jasper’s management has engaged negotiations with third-party marine transportation service and support companies in preparation of the project. According to LuYuan, the projects are scheduled to start in the 4Q16.

IDA-accredited companies can now tap on Surbana Jurong, Lendlease projects

The Infocomm Development Authority of Singapore (IDA) said on september 5th that it has inked two memorandum of intents (MOIs) with Surbana Jurong and Lend Lease.

As a result, Singaporean companies that have received accreditation from the Accreditation@IDA scheme can benefit from increased access to larger infrastructure and urban development projects in addition to  those offered by government agencies.

Surbana Jurong provides consultancy for urbanisation and infrastructure development with projects in Asia, Africa and the Middle East. Through this partnership, IDA-accredited companies will use the new partnership to win projects through Surbana Jurong’s and Lendlease’s established network.

Two IDA-accredited companies, Evercomm and Sense Infosys are currently in discussions with Surbana Jurong to explore participation in “Smart City in a Box”, a smart city solutions platform.

Also Read:

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.