Temasek-backed firm leads consortium to vie for digital wholesale bank licence
HK-listed Sheng Ye Capital teams up with PhillipCapital and Advance.AI in the quest to build a data-driven "next generation" SME bank
Add BT as a preferred source
Singapore
A TEMASEK-BACKED company, with more than S$1 billion in market capitalisation, is leading a consortium to vie for one of the three wholesale bank licences up for grabs in Singapore.
Hong Kong-listed Sheng Ye Capital, a supply chain finance company founded by Singaporean Jeff Tung, is teaming up with financial conglomerate PhillipCapital and fintech Advance.AI in the quest to build a data-driven "next generation" SME bank that will help businesses grow and expand into Asia. "We believe we can build the bank into a regional franchise with Singapore as the hub," Mr Tung told The Business Times.
TRENDING NOW
Qatari LNG ship struck in Strait of Hormuz, testing US talks
DBS, OCBC and UOB shares hit all-time highs as sentiment improves
‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis
Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10
