Jack Ma's $398 bil loan machine is changing Chinese banking

(July 29): Jack Ma’s online bank is leading a quiet revolution in the way China lends to small businesses, taking aim at a credit bottleneck that has held back Asia’s largest economy for decades.

Is China the world’s loan shark?

SINGAPORE (July 22): China is not just the world’s largest exporter of goods; it is now the world’s largest exporter of capital, too. Of course, these two facts are linked. China earns so much from being the world’s factory, and the spending of its households is so constrained, that it needs to find somewhere to park the difference. That is the basic imbalance underlying the Belt and Road Initiative (BRI), China’s big push into the developing world.


Sunvic Chemical racks up $44 mil in corporate loan claims, says cash flow may be affected

SINGAPORE (Jan 11): Sunvic Chemical Holdings says two of its subsidiaries, Yixing Yinyan Import & Export Co and Jiangsu Jurong Chemical, have each received letters of demand regarding corporate loans amounting to about RMB 222.5 million ($44.3 million).

The first claim was lodged by Yixing City Futao Rural Micro Credit against Sunvic’s Yixing Yinyan, which acted as the corporate guarantor for Jiangsu Donglai Real Estate Development for an RMB 180 million loan from Yixing City Futao.

Temasek-backed Validus Capital raises over $120 mil in business funding

SINGAPORE (Sept 11): Validus Capital, a Singapore-based SME financing platform, has raised more than $120 million in funding for Singapore-based SMEs and businesses through its platform.

To date, it has financed more than 1,600 loans, with each loan request approved under 24 hours. The average amount funded per request is S$70,000, with a high degree of diversification across various industry classes.

OCBC rolls out voice banking service on Google virtual assistant platform

SINGAPORE (Apr 18): OCBC Bank today launched its artificial intelligence (AI) powered voice banking service to serve as a medium for its banking customers’ interaction and engagement via the Google Assistant function on a smartphone or a Google Home device.

The announcement comes in conjunction with the launch of Google Inc.’s its Google Home and Google Home Mini brands of speakers and voice assistants in Singapore today.  

Grab launches lending services and insurance products

SINGAPORE (March 13): Ride-hailing operator Grab is growing its share in the competitive Southeast Asian financial market. The start-up today announced a partnership with Credit Saison, Japan’s largest credit card company, to provide loans and lending services in the region.

The joint venture company, called Grab Financial, will offer micro-financing products to consumers and small businesses in the region, Grab says. In particular, Grab Financial will focus on those who are currently not served by traditional banking services.

Noble faces key deadlines as default threat looms

SINGAPORE (Dec 8): Noble Group Ltd., the embattled commodities trader, faces several significant deadlines as it wrestles with a US$3.5 billion debt restructuring.

Once Asia’s largest commodity trader, Noble’s decline since 2015 has been marked by losses, concern it won’t be able to pay its debt and accusations from long-time foe Iceberg Research that it inflated the value of some contracts. The next few weeks will be crucial, as Noble looks to push its debt restructuring through.

Millennials are helping Jack Ma’s financing firm become a debt giant

SHANGHAI (Oct 17): They’ve made billions of dollars helping sell everything from iPhones to hairdryers on China’s burgeoning online shopping platforms. Now, tech giants led by Alibaba Group Holding Ltd.’s finance affiliate are making money off the loans consumers use to buy those products.

When financial institutions are no longer built to serve

SINGAPORE (Oct 5): A gaping rift between Wall Street and Main Street remains even a decade on from the global financial crisis (GFC) as financial systems around the world continue to function without a core purpose, according to an associate editor and global business columnist at The Financial Times.

Singapore June bank lending rises 7.6% on-year

From Google Drive

SINGAPORE (July 31): Singapore's total bank lending in June rose 7.6% compared to a year earlier, helped by increases in housing and bridging  loans, central bank data showed on Monday.

Loans and advances by domestic banking units in the city-state amounted to $635.5 billion last month, up from $590.4 billion in June last year.

Total bank lending in June also rose slightly compared to the previous month, when total bank lending stood at $633.2 billion.

Singapore's housing and bridging loans stood at $194.8 billion in June, up from $187.2 billion a year earlier.

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