DBS and Singtel to help SMEs digitalise business

DBS and Singtel to help SMEs digitalise business

By: 
Samantha Chiew
21/08/18, 05:00 pm

SINGAPORE (Aug 21): DBS and Singtel has reaffirmed their partnership to help local small and medium enterprises (SMEs) digitalise their businesses and keep pace with the technological shifts in the local and global economy.

Through the nationwide 99%SME campaign that helps SMEs expand their business by digitalising their operations, the duo will be enhancing the e-marketplace on the 99%SME portal next month.

The enhanced platform will instantly connect SMEs, especially those without an online presence, to an e-commerce platform hosted on the 99%SME site.

It will also help SMEs who are unsure of how to tap into online sales channels instant access to an online “shopfront” where consumers can browse and buy services and goods across different categories from fashion and beauty products to electronic goods and even stationery instantly.

With this, the SMEs will be able to raise their profile and grow beyond Singapore’s shores, expanding their customer base regionally and globally.

In addition, DBS will be developing a B2B platform where SMEs can gain access to an e-marketplace to sell their goods and services to large corporate and multinational corporations (MNCs).

This one of a kind portal in Singapore supported by 99%SME partners Mediacorp, Mastercard and Singtel will also grant SMEs access to supply chain connections, financing, and payment solutions that are usually only open to large corporates or MNCs.

Joyce Tee, group head of SME Banking of DBS Bank, says, “With Asia being the fastest growing region globally, SMEs in Singapore need the right programmes and resources to give them a chance to realise their regional growth ambitions. SMEs are operating in a sweet spot, at a time where their business can grow at an unprecedented rate. This is due to rapid regional economic growth boosting domestic consumption and digitalisation opening doors to new markets and customers.”

Andrew Lim, Managing Director, Business Group, Group Enterprise for Singtel, says, “Through the 99%SME initiative, Singtel and other partners have pooled our resources with the view of helping at least 10,000 SMEs jump start and accelerate their digital transformation. We will support Singapore’s SMEs to grow, transform and flourish in these rapidly changing markets.”

Stamford Land's 4Q earnings fall 80% to $5 mil on lower revenue

SINGAPORE (May 22): Stamford Land Corporation reported an 80.4% y-o-y decline in 4Q19 earnings to $5 million compared to $25.6 million previously due to lower revenue. The latest quarterly result brings Stamford’s FY19 earnings to $47.8 million, down 15.4% from $56.4 million a year ago. Revenue for the latest quarter fell 74.8% to $47.9 million from $189.7 million 4Q18 on the back of lower contributions across all segments. The overall decline in 4Q topline was mainly due to a steep drop in revenue and operating profit for the Property Development segment in the absence of settled u....
Read More >>

Neo Group FY19 earnings nearly double to $5.4 mil after strong 4Q

SINGAPORE (May 22): Neo Group Limited has announced earnings of $3.9 million for the 4Q ended March, rising 42.8% from $2.7 million a year ago mainly due to higher revenue.    This brings the group’s FY19 earnings to $5.4 million, up 48.7% y-o-y from $3.6 million previously on higher revenue and lower full-year purchases and consumables used. Revenue for 4Q rose 7% to $50.9 million from $47.6 million previously, driven mainly by higher contributions from the group’s flagship Food Catering business due to stronger recurring income from the childcare and elderly market segmen....
Read More >>

$1,379 – that's how much an elderly person needs to survive in the world's most expensive city

SINGAPORE (May 22): Just how much does a single, elderly person aged over 65 years who lives alone in Singapore need to cover his basic needs? Some $1,379 a month, according to a team of researchers led by assistant professor Ng Kok Hoe of the Lee Kuan Yew School of Public Policy (LKYSPP) at the National University of Singapore (NUS). If the name sounds familiar, it is because Dr Ng had in 2017 conducted the first count of Singapore’s homeless people. Singapore has shied away from defining a poverty line, or setting a minimum wage. But, for the first time, a group of researchers has....
Read More >>