Singapore Business Review

The Singapore Business Review offers daily updates on the business scene in Singapore, shares insights and opinions on current business events, and gives readers access to expert viewpoints from various industries.

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Citi Singapore nearly triples wealth transactions after digital revamp

5 days ago | sbr.com.sg | Frances Gagua

Four of five clients use the bank’s mobile app regularly. Citibank Singapore’s digital wealth management transactions rose 165% times in the last two year after revamping its mobile app and website and launching more than a hundred features to its wealth products, according to the bank. “We realized that our digital ecosystem should speak in the wealth language,” Gourab Kundu, head of digital growth for Asia South at Citi Wealth, the bank’s wealth management arm, told Asian Banking & Finance.
Travel reward platform HeyMax eyes Japan, Hong Kong

6 days ago | sbr.com.sg | Noreen Jazul

The Asia-Pacific region is the fastest-growing travel market, with annual growth of 10%. Fintech startup Max Now Pte Ltd. (HeyMax), which lets travellers earn rewards seamlessly across several merchants, plans to enter Japan and Hong Kong later this year, and Korea and Taiwan by 2026 to tap into the growing travel economy.
ByteGenie links hotels with travelers using AI

1 week ago | sbr.com.sg | Noreen Jazul

Hotels can save 85% of their time while looking for occupants. ByteGenie Pte Ltd. seeks to raise $837,000 (US$650,000) to help more sales teams in the hospitality sector connect with companies and business travelers using artificial intelligence (AI). The Singapore startup had raised $515,000 (US$400,000) as of early June, Jiale Tan, co-founder and CEO at ByteGenie, told Singapore Business Review.
Seedflex facilitates loans based on sales

1 week ago | sbr.com.sg | Noreen Jazul

Higher revenue means faster repayment terms. Fintech startup Seedflex Technologies Pte Ltd. seeks to facilitate lending to 50,000 micro, small and medium enterprises (MSMEs) in Malaysia by year-end based on their sales performance. “Cash flow is a central part of micro and small businesses,” Seedflex co-founder and CEO Ritwik Ghosh told Singapore Business Review.
SAL to teach lawyers how to stay ahead of AI curve

1 week ago | sbr.com.sg | Noreen Jazul

Jurists must develop critical thinking when using high-tech tools. The Singapore Academy of Law (SAL) wants to train young lawyers on analytical and management skills, including the ethical use of generative artificial intelligence (AI), which is changing legal practice with its ability to provide basic legal advice. "Generative AI is a class of AI that is hitting the legal profession in full force,” SAL CEO Yeong Zee Kin told Singapore Business Review.
Banks leave more jobs unfilled as corporate spending pauses

1 week ago | sbr.com.sg | Frances Gagua

For every two people who resign, only one post gets replaced. Banks in Singapore are hiring less—or not at all—as corporate spending hits a brake to stay liquid, according to a recruitment expert. “Even the volume of replacement is not in proportion to the attrition level,” Ken Ong, managing director at Morgan McKinley’s Singapore operations, told Asian Banking & Finance. For every two people who resign, only one post gets replaced, he pointed out.
Banks leave more jobs unfilled as hiring slows

1 week ago | sbr.com.sg | Frances Gagua

For every two people who resign, only one post gets replaced. Banks in Singapore are hiring less—or not at all—as corporate spending hits a brake to stay liquid, according to a recruitment expert. “Even the volume of replacement is not in proportion to the attrition level,” Ken Ong, managing director at Morgan McKinley’s Singapore operations, told Asian Banking & Finance. For every two people who resign, only one post gets replaced, he pointed out.
Revised M&A rules may boost deal values

1 week ago | sbr.com.sg | Noreen Jazul

Deals will soon be driven by economics and speed rather than personal ties. A plan to scrap deal protection mechanisms and make mergers and acquisitions (M&A) more competitive is expected to boost deal sizes in Singapore over the next three years, amidst declining values.
Competitive M&A rules may boost deal values

1 week ago | sbr.com.sg | Noreen Jazul

Deals will soon be driven by economics and speed rather than personal ties. A plan to scrap deal protection mechanisms and make mergers and acquisitions (M&A) more competitive is expected to boost deal sizes in Singapore over the next three years, amidst declining values.
Relaxed rules could spur cross-listing on SGX

2 weeks ago | sbr.com.sg | Noreen Jazul

There may be greater interest from Chinese companies. A proposal to ease prospectus requirements for companies listed on 15 foreign exchanges could lift secondary listing applications in Singapore by 30% over the next two to three years, an expert said. The Singapore Exchange (SGX) could draw five to 10 secondary listings each year if execution is effective, Henry Tan, group CEO and chief innovation officer at CLA Global TS Holdings Pte. Ltd., told Singapore Business Review.