COMMENTARY

Private equity for retail: Just because you can do it, doesn't mean you should

IN the current era of ultra-low risk-free rates of return, the financial innovation challenge of the day seems to be figuring out how to give retail investors access to the sweet returns of private equity.

STARTUPS

Sygnum, SEBA Crypto clinch Swiss banking licences

SWITZERLAND and Singapore-focused tokenisation startup Sygnum has clinched one of two conditional banking and securities dealers' licences in Switzerland, the first time that the European country's Financial Market Supervisory Authority (Finma) has given the go-ahead to pure-play blockchain...

Tokenisation startups Sygnum, SEBA clinch conditional Swiss banking, securities licences

SWITZERLAND and Singapore-focused tokenisation startup Sygnum has clinched one of two conditional banking and securities dealers' licences in Switzerland, the first time that the European country's Financial Market Supervisory Authority (Finma) has given the go-ahead to pure-play blockchain...

Indonesia-focused East Ventures closes 6th fund at target-busting US$75m

INDONESIA-focused venture capital firm East Ventures has closed its sixth fund at US$75 million, with support by prominent startup founders helping to surpass the fund's initial US$30 million target.

BT EXCLUSIVE

SGX to propose scrapping rule on minimum trading price: sources

SINGAPORE Exchange Regulation (SGX RegCo) plans to seek public feedback on a proposal to scrap the minimum trading price (MTP) requirement for Mainboard-listed companies, The Business Times has learnt.

STARTUPS

Singapore VC-PE group on mission to collate data for S-EA benchmarks

THE Singapore Venture Capital and Private Equity Association (SVCA) is partnering US-based Cambridge Associates to assemble enough data for South-east Asian benchmarks.

SVCA, Cambridge Associates to produce S-E Asian private equity, venture benchmarks

THE Singapore Venture Capital and Private Equity Association (SVCA) is partnering Cambridge Associates to provide South-east Asian benchmark data and statistics.

ALLIED TECH SAGA

Allied's missing S$33m and questions about the escrow account

ALLIED Technologies' revelation that about S$33 million of cash held in escrow with law firm JLC Advisors had gone missing raises questions about why that account existed for so long, and how the account held as much as it did.

Allied Tech's missing S$33m: Law Society seizes law firm JLC's client funds, launches probe

THE Law Society of Singapore has seized control of all client monies held by boutique law firm JLC Advisors and will launch an investigative audit following the disappearance of managing partner Jeffrey Ong Su Aun and about S$33 million of funds that were held in escrow for client Allied...

S$33m missing from JLC law firm; lawyer uncontactable

IN what could be a record sum involved in such cases, some S$33 million has gone missing from the clients' account of boutique law firm JLC Advisors, where a senior lawyer has at the same time become uncontactable.

STARTUPS

Adtech startup Pencil aims for Series A in 12-18 months after S$1.5m seed round

SINGAPORE-BASED adtech startup Pencil has raised S$1.5 million through a seed round led by early-stage venture capital firm Wavemaker Partners, together with SGInnovate and talent investor Entrepreneur First.

Adtech startup Pencil aims for Series A in 12-18 months after $1.5m seed round

SINGAPORE-based adtech startup Pencil has raised S$1.5 million through a seed round led by early-stage venture capital firm Wavemaker Partners, together with SGInnovate and talent investor Entrepreneur First.

Chooch.AI raises US$2.8m in seed round led by Vickers Venture Partners

VISUAL recognition artificial intelligence (AI) startup Chooch.AI has raised US$2.8 million in a seed round led by venture capital firm Vickers Venture Partners to expand its market and grow its team, according to a company announcement on Thursday.

Singapore stocks: STI resumes Thursday afternoon at 3,346.86, down 0.05% on day

SINGAPORE stocks began the Thursday afternoon session slightly lower on the day, with the Straits Times Index down 0.05 per cent or 1.78 points to 3,346.86 as at 1.02pm after a quiet and relatively directionless morning.

Singapore shares rise slightly at Thursday's open; STI up 0.07% to 3,350.89

SINGAPORE stocks opened modestly up on Thursday, with the Straits Times Index gaining 0.07 per cent or 2.25 points to 3,350.89 as at 9am after mixed markets in the United States and Japan took some of the steam out of Wednesday's positive China economic data.

AIDA raises Series A capital from Mastercard, Kuok, SGInnovate; eyes Philippines, Japan

MACHINE learning data analytics startup AIDA Technologies has completed an undisclosed Series A funding round from investors Mastercard, Kuok Ventures and SGInnovate.

Singapore stocks: STI resumes Friday afternoon at 3,218.36, up 0.46%

SINGAPORE stocks stayed aloft as trading resumed on Friday after the mid-day break, with the Straits Times Index moving up 0.46 per cent or 14.78 points to 3,218.36 as at 1.00pm to stay on pace for a positive week.

Singapore stocks: STI resumes Thursday afternoon at 3,213.19, up 0.46%

SINGAPORE stocks resumed trading on Thursday afternoon in positive territory, with the Straits Times Index rising 0.46 per cent or 14.8 points to 3,213.19 as at 1.01pm to continue the morning momentum.

Top execs from Teambuild, CDL and Surbana Jurong to join BCA board

THREE business executives and an academic will join the board of Singapore's Building and Construction Authority (BCA) in April, the Ministry of National Development announced on Thursday.

Ascott Reit buys 150-room business hotel near Sydney Airport for A$61m

ASCOTT Residence Trust (Ascott Reit) is buying a 150-room business hotel near Sydney Airport in Australia for A$60.6 million (S$58.2 million), the hospitality trust announced on Wednesday during the mid-day trading break.

Ascott Reit buys 150-room business hotel near Sydney Airport for A$61m

ASCOTT Residence Trust (Ascott Reit) is buying a 150-room business hotel near Sydney Airport in Australia for A$60.6 million (S$58.8 million), the hospitality trust announced on Wednesday during the mid-day trading break.

Penny scandal: Trial of alleged masterminds begins

SINGAPORE prosecutors opened the trial for Malaysian businessman John Soh Chee Wen and former Ipco International chief executive Quah Su-Ling on Monday, accusing the pair of masterminding a massive stock manipulation scheme that collapsed in the penny stock crash of October 2013.

Penny scandal: Brokers lost S$350m; ex-IPCO exec to serve 3 years in prison

THE 2013 penny stock crash has pummeled the brokerages used by the alleged perpetrators with more than S$350 million of unpaid losses, Singapore prosecutors said on Wednesday at the hearing of the first of three defendants.

Keppel O&M clinches repeat order for semi rig worth about US$425m from Awilco

RIGBUILDER Keppel Corp's offshore and marine unit has clinched a repeat rig construction contract worth about US$425 million from Awilco Drilling....

Keppel O&M clinches repeat order for semi rig worth about US$425m from Awilco

RIGBUILDER Keppel Corp's offshore and marine unit has clinched a repeat rig construction contract worth about US$425 million from Awilco Drilling....