Fincy's overlapping ranks raise concerns about structure

Singapore

OVERLAPPING relationships among Singapore-based fintech Fincy's ranks have raised concerns among observers about how robust its checks and balances are, following allegations surrounding its connections to Myanmar's controversial Yatai City project.

Fincy's current structure points to a lack of segregation of key roles, observers point out. If the checks and balances within a company are not stringent enough, suppliers, clients and other partners might be at risk of being short-changed, and the interest of stakeholders could be jeopardised, they said.