NATIONAL DAY 2020

NDP celebrations routed across the heartlands

THE National Day Parade (NDP) took a different spin on Sunday, as the city-state celebrated its 55th year of independence amid a global pandemic.

Aspen posts RM13.8m net loss for H1

MALAYSIAN developer Aspen (group) Holdings reported a RM13.8 million (S$4.5 million) net loss for the six months ended June, reversing from a net profit of RM9.2 million a year ago.

NATIONAL DAY 2020

Closures, layoffs likely to rise, but nation will pull through: PM Lee

BUSINESS closures, retrenchments and unemployment are all likely to rise in the coming months, said Prime Minister Lee Hsien Loong on Sunday morning, but he remained confident the country will get through the current crisis.

AIA inks exclusive regional partnership with healthtech startup Holmusk

INSURER AIA has inked an exclusive regional partnership with healthtech startup Holmusk to provide digital health coaching tools and solutions to the insurance company’s customers.

Aspen sinks into RM13.8 million net loss for first half

MALAYSIAN developer Aspen (group) Holdings reported a RM13.8 million (S$4.5 million) net loss for the six months ended June, reversing from a net profit of RM9.2 million a year ago. The property group cited the Covid-19 pandemic as the key reason for its “underwhelming” results as restrictions...

Business closures, layoffs to rise, but Singapore will get through crisis: PM Lee

Business closures, retrenchments and unemployment are all likely to rise in the coming months, said Prime Minister Lee Hsien Loong on Sunday morning,  but he remained confident the country will get through this current crisis.
US-CHINA TECH WAR

More Chinese tech might park operations in Singapore if US data security tensions escalate

SINGAPORE may be an intuitive alternative for Chinese companies to park their ex-China operations as the US clamps down on Chinese tech. Through a bifurcated structure, firms can move business operations to another country, while having another unit in China to support its mainland operations....

Fintech startup Clik bags US$3.7m in seed funding, scales up for launch

CAMBODIA-BASED fintech startup Clik has completed the final close of its US$3.7 million seed round, led by global payments software developer Openway Group, and Poems Ventures, the investment holding company of Singapore-based Phillip Capital.

GARAGE

Fashion rental startup Style Theory cuts staff

FASHION rental startup Style Theory has laid off at least 28 of its employees in Indonesia and Singapore, representing about 10 per cent of its workforce, sources told BT.

EDBI invests in quantum computing startup Rigetti's US$79m Series C round

CALIFORNIA-BASED quantum computing startup Rigetti Computing on Wednesday said it has raised US$79 million in a Series C funding round led by Bessemer Venture Partners, to advance its efforts in making quantum computing commercially viable.

EDBI invests in fraud protection firm Vesta to fuel its Asia-Pacific expansion

FRAUD-protection fintech Vesta on Tuesday said it has secured an “incremental investment” from strategic investor EDBI, which will fuel the startup's expansion plans across the Asia-Pacific.

BT EXCLUSIVE

SMEs appear ill-prepared for greater risks of cyberattacks as online workforce rises

SMALL and medium-sized enterprises face greater risks of cyber attacks and data breaches than they realise, as more of their employees work from home during the pandemic.

VIRUS OUTBREAK

Remote working creates higher risk of online attacks for firms: specialists

REMOTE working can expand the attack surface that threat actors can target, making businesses more susceptible to cyber attacks, say industry specialists.

Precision-farming startup Taranis bags US$30m in Series C round

TARANIS, an ag-tech startup that uses aerial surveillance and machine learning to help prevent crop-yield loss, said on Wednesday that it has raised US$30 million in a Series C round led by Vertex Growth and Kuok Group’s Orion Fund (managed by K3 Ventures).

GE2020: PAP retains Jalan Besar GRC with 65.37% of votes

THE People's Action Party (PAP) retained Jalan Besar group representation constituency (GRC) with 65.37 per cent of the vote, in its fight against the newly-formed Peoples Voice (PV) party.

GE2020: PAP takes 74.03% of votes for Radin Mas SMC

THE People’s Action Party's Melvin Yong retained the single member constituency (SMC) of Radin Mas for the party, after securing 74.03 per cent of the votes in the final tally.

Darco's deputy chairman to recuse himself from deliberations on Indonesian project

DARCO Water Technologies deputy chairman Robert Wang Zhi is prepared to abide by the audit committee's recommendation that he abstain from deliberations and decisions on a controversial Indonesian waste management project in which the water treatment firm has proposed to invest.

Sembmarine and GE bag contract to build wind farm in North Sea

SEMBCORP Marine and its consortium partner have been picked by German utilities company RWE as the preferred suppliers of the electrical transmission system for one of the world's biggest offshore wind farms located at sea north-east of the United Kingdom.

Zhang Chao to retire as CEO of Zheneng Jinjiang Environment

ZHENENG Jinjiang Environment’s chief executive Zhang Chao will step down on Nov 10, after three years with the waste-to-energy company.

Ley Choon units win repair and maintenance contracts worth S$36.9m

CATALIST-LISTED Ley Choon Group Holdings, which builds underground-utilities infrastructure and road works, said on Thursday that its units have secured four contracts worth about S$36.9 million in total.

Darco's deputy chairman to recuse himself from project

DARCO Water Technologies deputy chairman Robert Wang Zhi is "prepared to abide by the audit committee's recommendation" that he abstain from deliberations and decisions on a controversial Indonesian waste management project in which the water treatment firm has proposed to invest.

Winding-up petitions filed against PappaRich Group

TWO winding-up petitions were filed against food chain operator PappaRich group, an indirect subsidiary of Australian-based food and beverage (F&B) ST Group Food Holdings.

Biolidics ties up with China's LC-Bio to develop cancer-diagnostic solutions

SINGAPORE-BASED cancer-diagnostics company Biolidics said on Wednesday that it has entered a collaboration agreement with Hangzhou-based LC-Bio to develop cancer-diagnostic solutions.

Hatten Land bondholders agree to defer repayment again

CATALIST-LISTED Hatten Land on Wednesday said that the holders of its US$25 million, 8-per-cent guaranteed secured bonds due 2020 have agreed to let it defer repayment on the bonds for the third time.

Winding-up petitions filed against PappaRich Group

WINDING-UP petitions have been filed against food-chain operator PappaRich Group Sdn Bhd, the joint venture partner of an indirect subsidiary of Australia-based ST Group Food Industries Holdings. (see amendment note)