Enterprise Singapore

Keppel Logistics subsidiary UrbanFox expands to Vietnam and Malaysia

SINGAPORE (Aug 20): Logistics and e-commerce solutions provider UrbanFox, a subsidiary of Keppel Logistics, is enlarging its Southeast Asia footprint.

Leveraging Keppel Logistics’ network, UrbanFox says it is expanding to Vietnam and Malaysia to support brands there in meeting their business-to-business and business-to-consumer demands.

This includes handling logistic needs from warehousing, inventory management and last-mile fulfilment, as well as marketing products on online marketplaces.

No need yet for economic stimulus, PM says, as Singapore looks to infrastructure for the future

SINGAPORE (Aug 19): Even as Singapore teeters on the edge of a technical recession, Prime Minister Lee Hsien Loong says there’s no need yet for immediate economic stimulus measures.

However, he adds that the government is prepared, and will “promptly respond” with appropriate interventions if the situation worsens.

Speaking at the National Day Rally 2019 on Sunday, Lee acknowledges that Singapore's economic growth has slowed significantly, but notes that retrenchment and unemployment rates in the city state remain low.

Singapore's NODX falls 15.9% in May

SINGAPORE (June 17): Singapore’s non-oil domestic exports (NODX) fell 15.9% in May, following a 10% decline in April. Both electronic and non-electronic NODX declined.

The export figures for the previous month were released by Enterprise Singapore on Monday morning.

Mega innovation event in Nov with merger of FinTech Festival and SWITCH

SINGAPORE (June 13): Three government agencies are pooling resources to organise a mega multi-day event this November for an global audience tied by the common purpose of pushing innovation and entrepreneurship.

The Monetary Authority of Singapore (MAS), Enterprise Singapore and the National Research Foundation (NRF) on Thursday announced that the Singapore FinTech Festival (SFF) and the Singapore Week of Innovation and TeCHnology (SWITCH) will be merged as an event called SFF x SWITCH. 

Singapore's bet on tech startups gains ground with 150 VC funds

(Apr 29): Singapore’s effort to create an ecosystem to support startups is gaining ground, with the city-state now home to more than 150 venture capital funds.

L’Oreal SA, Microsoft Corp and Oracle Corp are among more than 100 entities running incubator and accelerator programs, according to Enterprise Singapore, the government agency spearheading enterprise development. Venture funding has increased to US$10.5 billion in 2018 from US$800 million in 2012, according to data from PitchBook.

Clearbridge subsidiary to issue $2 mil in convertible bonds

SINGAPORE (Mar 25): Clearbridge Health Limited’s subsidiary, Clearbridge Biophotonics, is set to issue $2 million in convertible bonds to develop its proprietary computational imaging microscopy technology with the aim of commercialisation.  

Enterprise Singapore’s investment arm SEEDS Capital will subscribe for $1 million of the convertible bonds.

At the same time, Clearbridge’s wholly owned subsidiary Clearbridge BSA will convert existing loans to Clearbridge Biophotonics for another $1 million of the convertible bonds.

More benefits for local workforce from enterprise initiatives; services to undergo foreign worker quota cuts

SINGAPORE (Feb 18): Starting from April 1 2020, Singapore will require all transformation efforts supported by Enterprise Singapore’s Enterprise Development Grant to include positive outcomes for workers, such as wage increases.  

To help firms adjust to this change, the 70% funding support level for the Enterprise Development Grant, which is due to lapse after March 2020, will be extended for three more years until end-March 2023.

Similarly, the scope of Singapore's Productivity Solutions Grant will be expanded to support up to 70% of the out-of-pocket costs for training.

Enterprise Singapore unveils new industry-led roadmap for tech adoption in logistics

SINGAPORE (Oct 3): A new industry-led three-year roadmap developed by the Singapore Logistics Association (SLA) has been established to help more logistics companies understand technology applications and their adoption to speed up their digitisation journey.

This was announced by Koh Poh Koon, Senior Ministry of State for Trade & Industry, at the Singapore Logistics Forum 2018 held today.

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.

Enterprise Singapore and Bpifrance call for proposals on joint France-Singapore innovation projects

SINGAPORE (Sept 18): Enterprise Singapore and Bpifrance are calling for proposals on joint innovation projects in technological and application areas including advanced manufacturing, clean technology and medical technology.

Enterprise Singapore is a statutory board under Singapore’s Ministry of Trade and Industry, while Bpifrance is the agency charged to help French companies develop by providing assistance and financial support.

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