Financial Services
OCBC lags rivals in coverage for soured assets
OCBC lags rivals in coverage for soured assets
Non-performing assets coverage was at 78% as at Q1 2019.
Daily Briefing: Razer to roll out Visa-issued prepaid cards; Sky Everton condo sold 40% of units in weekend launch
And higher fines for parking violators will kick into effect in July.
CIMB Niaga and Liquid Group to launch cross-border QR payments between Singapore and Indonesia
Indonesian travellers will soon be able to use local payment apps at Changi airport.
UOB and CapBridge to offer Asian firms access to private capital
CapBridge’s investment syndication platform will match UOB clients with anchor and accredited co-investors.
Will virtual banks threaten Singapore's big three?
Newcomers still have to create significantly large funding and capital bases to contend with incumbents.
Life insurance premiums to grow 5% in 2020
It will benefit from sustained demand for annual premium products.
Daily Briefing: Temasek unit mulls offering equity-type products for retail investors; Pavilion Energy subsidiary to buy Spanish energy firm for $176.4m
And over 75,000 e-scooters registered ahead of 30 June deadline.
One in 10 firms forecast 0-5% revenue declines in 2019
Only 37% of businesses expect moderate growth between 5-15%.
Singapore investment banking fees down 15.9% to US$366.3m
Advisory fees for M&A deals shrank 49% to US$76m.
Singapore's total M&A value up 64.3% to US$59.4b in H1
Blackstone’s US$18.7b acquisition of GLP, the largest deal with Singaporean involvement to date, boosted the total.
Daily Briefing: Singapore banks trail behind Malaysia in female board representation; Temasek joins US$75m funding of US biotech startup
And The Esplanade is seeking to raise $9m to build its $30m waterfront theatre.
GOJEK adds DBS PayLah! to payment options
The move aims to encourage users to adopt digital payments.
MAS slaps three-year prohibition orders against former UBS banker
Paris Michele was discovered to have falsified company emails and forged documents.
Standard Chartered launches one-stop digital forex platform
It allows clients to personalise watchlists and price alerts.
Banks step up buyback spree to rescue share price
Most of the buybacks by DBS were done in May, when the share price fell 14%. Singapore banks’ share buybacks have picked up steam in 2019. A Maybank...
Pioneer and Merdeka Generation seniors to get $270m of MediSave top-ups in July
The top-ups will be given only to qualified seniors.
NTUC Income to set up financial advisory firm
It will offer tailored financial advice and fact-finding services.
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