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.”

Stratech's controlling shareholders seeking stay of winding-up order

SINGAPORE (Sept 20): A Singapore court has granted applications to wind up The Stratech Group and its subsidiary, Stratech Systems, after the group failed to receive the necessary support for proposed schemes of arrangement. See: Stratech to receive funds from controlling shareholders, plans to propose scheme of arrangement See also: Stratech to call for rights issue as founders pump in more funds See also: Auditors flag Stratech's ability as going concern One of Stratech’s three secured creditors, who held more than 50% of the company’s $6 million in secured debt, did not agre....
Read More >>

Easy for Hongkong Land to find replacement for tenant HNA: DBS

SINGAPORE (Sept 20): China-based HNA Group reportedly surrendered eight floors at Three Exchange Square in Hongkong’s Central with lettable area of 88,000sf. This move should not surprise the market as this conglomerate has been reducing its business operations in Hong Kong in the previous year. The 33-level Three Exchange Square office tower was developed by property group Hongkong Land and houses the Hong Kong Stock Exchange. HNA’s lease started in June and should have expired in May 2027. According to press reports, China Merchants Bank has agreed to take up four floors for ....
Read More >>

Singaporeans love their banks but remain wary of the lesser-known, finds survey

SINGAPORE (Sept 20): While a majority of Singaporeans view the city state’s financial services sector as more trustworthy than a decade ago, many are cautious towards less familiar sub-industries and new & emerging digital financial services companies. This is according to the inaugural 2018 Financial Services Reputation Index, launched today by MHP Communications and ORC International, which surveyed over 4,000 adults across China, Hong Kong, India and Singapore in August this year. In particular, the survey found that 90% of respondents in Singapore and India rated the reputation....
Read More >>