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Daily Debrief: What Happened Today

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THE new digital full bank in Singapore proposed by Grab Holdings and Singtel will shy from cash burn, while driving down the cost to target those deemed "underbanked" in this matured market, senior executives from Grab and Singtel said on Monday.

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THE new digital full bank in Singapore proposed by Grab Holdings and Singtel will shy from cash burn, while driving down the cost to target those deemed "underbanked" in this matured market, senior executives from Grab and Singtel said on Monday.

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Grab, Singtel aim to be mainstream digital bank without the cash burn

GRAB and Singtel on Monday said they will apply jointly for a digital full bank licence via a consortium, with Grab holding a 60 per cent stake in the entity, and the telco giant holding the remaining 40 per cent.


 

 

OCBC ends digital wholesale bank move with Keppel, Validus

THE late breakdown in talks, BT understands, comes as Keppel is undergoing a strategic review of its core operations, with Temasek Holdings due to take control of the conglomerate via a partial offer. 


SIAS calls on Aqua Munda to disclose funding, intentions regarding Hyflux

SIAS president David Gerald said that creditors have raised queries on the “identity of Aqua Munda and its director and sole shareholder, and whether Aqua Munda has the necessary funds to complete their proposed reverse Dutch auction”.


StarHub partners U Mobile to conduct 5G trials in Singapore and Malaysia

THE trials will be conducted in collaboration with Huawei, and will be done independent of 4G network infrastructure unlike many other roaming trials that use 5G non-standalone technology, the telcos said.


GuocoLand, Hong Leong JV wins land tender in China with 1.68b yuan bid

A JOINT venture (JV) of GuocoLand and Hong Leong Holdings (China) (HLHC) will acquire and develop four land parcels in Chongqing, China, for residential use.


The STI today

STI posts slight losses ahead of New Year’s Eve

THE Straits Times Index (STI) stayed mostly range-bound, ending the session at 3,222.44, down 4.09 points or 0.1 per cent.