SASS AND THE CITY

Merry Grinchmas, ethically speaking

ONCE, there was a chicken named Colin. At least, there was one on an episode in Portlandia - an American sitcom that parodied the hipster life in Portland for absurdist theatrics.

British tycoon buys controlling stake in fintech Singapore Life

FINTECH outfit Singapore Life has found a controlling shareholder in British tycoon Michael Spencer, who invested a further US$52.8 million into the Singapore-based, online-only insurer late this week, Singapore Life told The Business Times on Friday.

British tycoon buys controlling stake in insurtech Singapore Life

INSURTECH Singapore Life has a new controlling shareholder in British billionaire Michael Spencer, who invested a further US$50 million into the Singapore-based firm late this week, Singapore Life told <em>The Business Times</em>. The investment is understood to have just about doubled...
STARTUPS

SolarHome raises US$10m for expansion plans

SINGAPORE-BASED startup SolarHome - which sells pay-as-you-go solar power systems to households in Myanmar - has turned to debt from crowdfunding platforms to fund its expansion.

Solar power startup SolarHome raises US$10m debt from crowdfunding, investors

SINGAPORE-BASED startup SolarHome – which sells pay-as-you-go solar power systems to households in Myanmar – has turned to debt from crowdfunding platforms to fund its expansion.
HOCK LOCK SIEW

AI principles should pave way for open probes on data usage

THERE is gnawing unease when it comes to the use of artificial intelligence (AI) for data processing by financial institutions. But as the AI principles launched by the Monetary Authority of Singapore (MAS) have begun to suggest, the more critical question is how consumers should be empowered to...

Drew & Napier CEO appointed to World Bank Sanctions Board

DREW & Napier's chief executive officer Cavinder Bull has been appointed to the World Bank Sanctions Board, which reviews allegations of fraud or corruption in projects financed by the World Bank...

Bank lending claws its way back to growth in October

BANK lending in Singapore managed a return to growth in October from a month ago, boosted by an expansion in building loans that lifted overall business lending.

Singapore bank lending returns to growth in Oct: MAS preliminary data

BANK lending in Singapore rose in October from a month ago, reversing from a slight contraction in September, preliminary data from the Monetary Authority of Singapore showed on Friday.
BT EXCLUSIVE

StanChart private bank sees future in price transparency

SOME private banks are more open than others - and a top executive at Standard Chartered's private bank thinks the time has come for clients to demand more pricing transparency from private banks...

Concerns about fraud keeping elderly away from digital payments: study

BY 2030, one in five residents in Singapore will be aged 65 and above. Against such statistics, there are questions to be asked about how far digital inclusion extends to individuals in their later years.

Lee Metal acquisition lifts BRC Asia's FY18 profit

THE completed acquisition of Lee Metal by BRC Asia boosted BRC Asia's net profit for its full fiscal year, the seller of reinforcing steel bars said on Friday...

Civil servants to get year-end bonus of one month's salary

CIVIL servants in Singapore will be paid a year-end annual variable component (AVC) bonus representing one month of their respective salaries, the government said on Friday. Together with the mid-year AVC, civil servants will receive a full-year AVC of 1.5 months.

Raffles Infrastructure special audit hits snag with 'lack of cooperation' from Chinese unit

SPECIAL auditors appointed by Raffles Infrastructure Holdings flagged "a lack of cooperation" by the firm's Chinese unit, as the team investigates the critical compensation claims of 804 million yuan (S$159 million) in total to three customers of Raffles Infrastructure in its former...

AGV Group warns of full-year loss

AGV Group, which makes galvanised steel and repairs corroded metals, on Friday warned that the group is expected to make a full-year loss for the 12 months ended Sept 30, 2018. 

BRC Asia posts S$12m full-year profit on Lee Metal acquisition

THE completed acquisition of Lee Metal by BRC Asia boosted BRC Asia’s net profit for its full fiscal year, the seller of reinforcing steel bars said on Friday.

Jason Marine's financial controller leaves

JASON Marine Group on Friday said that its financial controller and joint company secretary, Esabelle Saw Hong Gaik, has left "to pursue new opportunities". ...

Aspen unit ends deal with land buyer on payment default

ASPEN Group - a property firm - on Friday said that its unit has ended an agreement with a buyer of a piece of land in Penang, Malaysia, after the buyer failed to make certain payments related to the sale.

Acromec makes loss guidance for FY2018

ACROMEC, a specialist engineering firm, said that the group is expected to report losses for fiscal 2018. This period refers to the 12 months ended Sept 30, 2018.

Keppel Corp units divest stakes in two Thai property-related firms for S$6.9m

KEPPEL Corporation on Friday said that it will sell for S$6.9 million in total its full interests in two Thai-based firms set up to acquire and develop two plots of residential sites located in Bangkok, Thailand.

Civil servants to get one-month bonus in Dec; full-year bonus at 1.5 months

CIVIL servants in Singapore will be paid a year-end annual variable component (AVC) bonus representing one month of their respective salaries, the government said on Friday.

SPH Radio stations grow audience base further

SPH Radio stations saw further growth in listeners in the second half of this year, with monthly digital listenership reaching more than 800,000 unique users in October 2018, up by 23 per cent from June 2018, the media company said on Thursday.

Ramba to raise S$10.2m in fresh placement, kills earlier deal with fund

RAMBA Energy, an oil-and-gas firm, on Thursday said that it plans to sell shares worth S$10.2 million to a management consultancy owned by a Japanese firm via a share placement, with the shares to be placed out representing 17.6 per cent of its current share base.

Noble ID quits, saying he has 'contributed all he usefully could' to restructuring

AN independent director at Noble Group - the embattled commodities firm at the centre of investigations by Singapore authorities - resigned on Thursday, saying he believes that he has "contributed all he usefully could in relation to the restructuring of Noble". ...

Jiutian Chemical CEO resigns

JIUTIAN Chemical Group, which makes chemicals used in leather-based and pharmaceutical products, on Thursday said that its chief executive officer Zhou Hongxuan has resigned on "health concerns"...