collaboration

MAS, SGX successfully use blockchain technology for settlement of tokenised assets

SINGAPORE (Nov 12): The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) have succesfully developed Delivery versus Payment (DvP) capabilities for the settlement of tokenised assets across different blockchain platforms.

DvP is a settlement procedure where securities and monies are simultaneously exchanged to ensure the delivery of securities occurs only if the corresponding payment is made. This will help improve operational efficiency and reduce settlement risks.

Singapore and Russia ink MOUs to foster closer collaboration between startup ecosystems

SINGAPORE (Sept 20): Singapore yesterday signed two memorandum of understanding (MOU), at the High Level Russia-Singapore Inter-Governmental Commission meeting.

These MOU were signed to encourage collaboration between the two countries to co-create innovative tech solutions and products, as Enterprise Singapore sees potential for Singapore companies and startups to collaborate with Russia’s strong science and technology capabilities, and established research and innovation culture.

DBS and Singtel to help SMEs digitalise business

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.

Sarine Technologies collaborates with Lucara Diamond on blockchain-powered platform to sell diamonds

SINGAPORE (Aug 20): Sarine Technologies has entered into an agreement with Clara Diamond Solutions, a subsidiary of Vancouver-based diamond mining producer Lucara Diamond.

Under the agreement, Clara will sell diamonds directly to jewellery manufacturers via a digital platform backed by secure blockchain technology developed by it. The platform will enable recording the mine origin of the rough diamond before it is sold.

Hatten to develop $67 mil water themepark at Harbour [email protected]

SINGAPORE (Aug 7): Hatten Land intends to jointly build a RM200 million ($67 million) water themepark in Melaka, Malaysia, in collaboration with resort operator Samsung C&T Corp and Polin Waterparks, the designer and installer of water slides.

Named Splash World @ Harbour City, the four-storey water park spanning 500,000 sf is expected to complete construction by end 2019 and be open to the public in 1H20 with a capacity of 5,200 visitors per day.

Singapore O&G still growing strong

SINGAPORE (May 15): Phillip Capital is maintaining its “accumulate” recommendation on Singapore O&G (SOG) with a target price of 42 cents.

The group on Monday announced that its 1Q18 earnings have increased by 23.7% to $2.5 million, compared to $2.0 million in 1Q17.

Revenue was 17.3% higher at $8.2 million from $7.0 million last year, on the back of higher contribution from its Obstetrics & Gynaecology (O&G), Cancer-related, and Dermatology segments, as well as maiden contribution from its new Paediatrics segment.

UOB and Santander UK to facilitate greater two-way business flows between Southeast Asia and the UK

SINGAPORE (May 10): United Overseas Bank (UOB) and Santander UK will be collaborating with each other to facilitate greater cross-border business flows between Southeast Asia and the UK.

The partnership brings together the complementary strengths such as local market knowledge and regional presence of both banks in helping companies from their respective markets expand overseas.

These efforts include helping Singapore companies with their expansion plans in the UK, one of their top business and investment destinations.

UOB eyes more business serving Chinese companies in Southeast Asia

SINGAPORE (Apr 13): United Overseas Bank (UOB), which has built up a regional presence across Southeast Asia and in China, aims to increase the number of Chinese companies it do business with by 50% this year from 2017, as business activity across this region picks up in line with China’s Belt and Road Initiative (BRI).

Last year, UOB facilitated almost $20 billion in business flows from China to Southeast Asia. The bank is doing so via its FDI Advisory Unit, which was set up in 2011.

SGX inks MoU with New Zealand Stock Exchange to cooperate in Asia Pacific markets

SINGAPORE (Mar 7): The Singapore Exchange (SGX) has signed a memorandum of understanding (MoU) with the New Zealand Stock Exchange, NZX Limited, to expand cooperation in Asia Pacific markets.

Under the terms of the MoU, both NZX and SGX will promote market development initiatives across a range of areas including the promotion of derivatives products, dual and secondary listings, exchange traded funds and investor participation.

They will also share relevant information as required and partner on green finance and sustainability initiatives.

Singapore Exchange seeks to defuse tensions over National Stock Exchange of India in futures dispute

SINGAPORE (Feb 12): Singapore Exchange extended an olive branch to its counterpart in India as it sought to defuse escalating tensions that threaten to kill an 18-year licensing partnership.

SGX will work with the National Stock Exchange of India “toward solutions for global investors,” according to a statement on Sunday. It also noted that the two companies’ partnership goes back to 2000 and that they had collaborated “to develop and internationalize India’s capital markets.”

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