SINGAPORE (Nov 14): Ron Sim, founder of one of Asia’s largest massage chair makers, is in talks to partner with a unit of Temasek Holdings and other firms to bid for one of Singapore’s new virtual banking licenses, according to people familiar with the matter.

V3 Group, Sim’s Singapore-based firm, is in talks to partner Temasek’s Heliconia Capital Management as well as stored-value card company EZ-Link and property firm Far East Organisation in the new consortium, said the people, who asked not to be named because the discussions remain private. The group plans to seek one of Singapore’s new retail digital banking licences, they said.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.


  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply


Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook