PhillipCapital sets sights on new growth areas, diversification

Its aspirational entry into digital banking by teaming up with two other firms is part of continuing efforts to 'move with the times'.

Published Sun, Jan 19, 2020 · 09:50 PM

Singapore digital banks

FINANCIAL house PhillipCapital wants to wade deeper into the small- and medium-sized enterprise (SME) space from its current largely retail clientele through its application for a wholesale bank licence in Singapore.

It was reported earlier this month that it had teamed up with Hong Kong-listed Sheng Ye Capital, a supply chain finance company founded by Singaporean Jeff Tung, and fintech Advance.AI.

PhillipCapital has been on a quest to shed its "old-fashioned" image, which is rather aptly captured in the story of how its company logo was designed by its founder and executive chairman Lim Hua Min through a now-obsolete practice.

"He was a chartist and he basically just drew it on graph paper. This was pre-Bloomberg days. That's the true origin," Linus Lim, co-chief investment …

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