UOB to hold monthly dedicated digital clinics for small businesses

UOB to hold monthly dedicated digital clinics for small businesses

By: 
Michelle Zhu
31/05/18, 12:47 pm

SINGAPORE (May 31): United Overseas Bank (UOB) says it will be holding dedicated digital clinics on a monthly basis, through which the bank intends to teach small businesses to improve their processes with technology via one-on-one guidance.

The digital clinic concept was launched at the SMEs’ Road to Business Transformation in a Digital Age event held yesterday. 

While it costs $90 for a two-hour session of the digital clinic, it is offered to U SME members on a complimentary basis as part of UOB and NTUC U SME’s ongoing collaboration.

In a press release on Wednesday, UOB says each small business taking part in the digital clinic will receive advice from digitisation experts among UOB’s ecosystem of partners including SAP, HReasily and Enterprize, on areas in which their company can benefit from digital technology and information on the funding support that is available to them.

Participants will receive a detailed report at the end of the session, with recommendations on the next steps they can take to digitise their business thereon.

“As the banker to almost one in two small- and medium-sized businesses in Singapore, our experience tells us that despite their desire to build digital capabilities , small businesses remain unsure of how to take the first step in their digitalisation journey,” says Mervyn Koh, Managing Director and Country Head of Business Banking Singapore, UOB.

“In fact, two in three small businesses that took part in our SME Transformation Study said that they would appreciate a more customised approach when it comes to the assistance they receive on adopting digital solutions. As such, we hope that our practical and hands-on digital clinics will provide Singapore’s small businesses with personalised and actionable recommendations which can then be implemented easily and with confidence,” he adds.

Concurrently, UOB announced it is selecting three small businesses from Singapore, Malaysia and Thailand each to win a free two-year subscription to UOB BizSmart, its cloud-based integrated business solution that allows companies to automate their administrative processes, and other digital solutions from the SAP Business One suite. This will include on-site implementation support and employee training for UOB BizSmart. 

The bank intends to do so with the upcoming launch of itsTech My Biz competition next month, which will see small businesses make their submissions via an online entry form and share the reasons why they need a digital makeover.

Counsels argue over how witnesses' conditioned statements were prepared and used

SINGAPORE (May 23): The prosecution and defence in the 2013 penny stock crash trial on Thursday crossed swords over how conditioned statements had been prepared, and the relevancy of questions raised in cross-examination of these statements. Deputy public prosecutor Peter Koy said questions by the defence counsels for alleged co-conspirators John Soh Chee Wen and Quah Su-Ling were a “distraction from the facts”. “Questions as to what was shown to the witness, what trade and telephone data were shown to the witness, which data was filtered and shown to the witness, are irrelevant to....
Read More >>

Boustead Projects records 2% dip in 4Q earnings to $5.7 mil despite revenue surge

SINGAPORE (May 23): Real estate solutions specialist Boustead Projects posted a 2% drop in earnings to $5.7 million for the 4Q19 ended March, compared to restated earnings of $5.8 million for 4Q18. This brings full year earnings for FY19 to $30.6 million, some 5% higher than earnings of $29.2 million a year ago. The group recorded earnings per share (EPS) of 1.8 cents for 4Q19, the same as a year ago. For FY19, EPS rose to 9.8 cents, compared to 9.1 cents for FY18. The decline in 4Q earnings was mainly due to lower gross margins in design-and-build projects and depreciation incurred o....
Read More >>

Sunpower wins $8.7 mil contract from repeat customer

SINGAPORE (May 23): Sunpower Group, the environmental protection solutions specialist, has signed a RMB43.56 million ($8.7 million) contract with repeat customer Zhejiang Petrochemical Co. Sunpower will provide high-efficiency heat exchangers for one of China’s largest domestic atmospheric and vacuum pressure units with an annual capacity of 10 million tons, which is part of Phase 2 of Zhejiang Petrochemical’s refinery and chemical integration project. The project is part of China’s 13th Five-Year National Petroleum and Chemical Plan. Sunpower started its partnership with Zhengj....
Read More >>