loans

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 ...
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 ...
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 ...
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 ...
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 ...
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. Amid surging demand from cash-strapped Chinese millennials, companies such as Ant ...
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. In an op-ed essay published in The New York Times’ Opinion section last Friday, Rana ...
Singapore June bank lending rises 7.6% on-year
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 ...
Risky and complex US loan wagers are red hot in low-yield Asia
NEW YORK (May 19): Asia’s yield-hungry investors have a lot riding on the financial engineers of Wall Street. Faced with near record-low interest rates at home, money managers in Korea, Japan and China have been piling into complex and increasingly risky structured loan products in America. Their investments in collateralized loan obligations -- including the high-yield “equity’’ ...
Yanlord inks $1.5 bil credit facility with consortium of 26 financial institutions
SINGAPORE (April 24): Real estate developer Yanlord Land Group today signed a landmark US$1.05 billion ($1.5 billion) syndicated 3.5 year credit facility with a consortium of 26 global banks and financial institutions, for refinancing and general corporate purposes. This was done through the group’s wholly-owned subsidiary Yanlord Land (HK). In a media release filed to the SGX on ...