Tag Archives: Singapore
Malaysia Airlines suffers data security 'incident' spanning nine years
Malaysia Airlines has suffered a data security “incident” that compromised personal information belonging to members of its frequent flyer programme, Enrich. The breach is purported to have occurred at some point during a period that spans almost a decade and involves a third-party IT service provider. The airline had sent out an emailer to Enrich […]
Myanmar coup latest: Malaysia, Singapore urge release of Suu Kyi
YANGON/BANGKOK — On Feb. 1, Myanmar’s military detained State Counselor Aung San Suu Kyi and President Win Myint in the country’s first coup since 1988, bringing an end to a decade of civilian rule. The Suu Kyi-led National League for Democracy had won a landslide in a general election last November. But the military has […]
Citics lands US$1M from Vulpes, others to build a ‘comprehensive’ real estate data platform in Vietnam
Citics, a Vietnamese online real estate platform, announced today it has raised US$1 million in a pre-series A round from a group of international and domestic investors. The investors include Vulpes Investment Management, a seed investor in Singapore-based unicorn PropertyGuru, Nextrans and TheVentures. Previously, the startup has raised US$700,000 from multiple angel investors, many of […]
Singapore issues FSI guidelines on managing remote work risks
Singapore has released guidelines on heightened risks businesses in the financial services industry (FSI) now face as remote work practices take hold and how they can mitigate such risks. These include implementing safeguards in their outsourcing arrangements as well as security controls to combat data leaks and fraud. The document aimed to outlined key risks […]
In brief: Quest Ventures, Scale-up Malaysia back 11 startups; Employment Hero raises US$35M for SEA expansion
The Employment Hero team Employment Hero bags US$35M to bring integrated HR platform into SEA Investors: Led by returning investor SEEK. Others are OneVentures and AirTree Ventures, Salesforce Ventures. What will the funding be used for: To support Employment Hero’s continued growth in its local Australian market and facilitate an expansion of its business across […]
In February, digital transformation and social impact continue to take centre stage in startup investments
Last month, we covered at least four notable acquisitions in the Southeast Asian tech startup ecosystem, involving startups from various sectors and markets. In Indonesia, there was the acquisition of B2B e-commerce platform Bizzy Digital by new retail platform Warung Pintar for US$45 million, as part of the latter’s effort to expand its offering to […]
Sea under pressure to turn profit after COVID-driven growth
SINGAPORE — Singapore-based online gaming and e-commerce group Sea is turning its focus to improving profitability after growing rapidly over the last year, thanks to strong demand due to COVID-induced stay-home rules and on the back of a marketing blitz. The New York-listed company is due to announce its 2020 financial results on Tuesday. Total […]
The danger of expanding too quickly and how you can keep your tech team artificially small
As a startup, have you ever faced clients who question the capabilities of your team? We often get this question: You have less than 15 people on your team, are you sure you have enough manpower to deliver our mobile apps at good enough quality? Our answer is that our CTO, Torin Nguyen, only hires […]
Singapore eyes more cameras, technology to boost law enforcement
Singapore is looking to expand its use of cameras and technology to better support law enforcers and first responders. These include plans to tap sensors, video analytics, artificial intelligence (AI), automation, and drones to ease manpower shortages and improve service efficiencies. As it is, the police have deployed almost 90,000 cameras in public locations such […]
Tencent Cloud looks to tap Middle East growth with Bahrain data centre
Tencent Cloud has unveiled plans to launch an internet data centre in Bahrain by year-end, marking its first facility in the Middle East and North Africa (MENA) region. It hopes the launch will pave its way into a market that has growth opportunities, with local businesses looking to drive their digital transformation. The Chinese internet […]
Building a globalised ecosystem based on innovation and entrepreneurship
As a chief player in the global semiconductor sector, Taiwan is well known for its innovations and advancements. Taiwan claimed the twelfth place out of 141 economies within the 2019 Global Competitiveness Report released by the World Economic Forum. In recent years, the country has seen an increase in venture capital investment, government initiatives, and […]
‘More conglomerates are embracing digital disruptions as they’re undergoing transitions between generations’: Emtek’s Andya Daniswara
Andya Daniswara, Senior VP (Business Development), Emtek Group Indonesia-based Emtek Group, which was founded in 1983 as a provider of personal computer service, has evolved into a modern, integrated group of companies with three main business divisions: media, telecom and IT solutions, and connectivity. The group also owns and operates several internet properties, including DANA […]
EPS, Schulte Group back F-drones that develops autonomous drones capable of delivering 100kg payloads over 100km
Co-founders of F-drones: Yeshwanth Reddy (L), Nicholas Ang (R) F-drones, a Singapore-based developer of large-scale autonomous drones for maritime logistics, has raised an undisclosed amount in seed investment, led by ship management company Eastern Pacific Shipping (EPS). The round also saw participation from Germany-based ship management firm Schulte Group (which invested through its venture arm Innoport), […]
A game changer: Why direct access to payment systems matters in a consumer-centric world
February 2021 marks a significant milestone for fintech in Singapore. Starting this month, the first wave of non-bank financial institutions (NFIs and fintechs), including Wise (formerly TransferWise) where I work, are now connected to FAST, Singapore’s real-time payment rails. This is a momentous occasion not only for our journey in Singapore, but also a regulatory […]
Ecosystem Roundup: Despite e-payments rise, MAS says S’pore not aiming to be cashless society; Is space-tech taking off in SEA?
GIC to buy shares worth up to US$225mn in gojek-backed Bank Jago; The amount would net GIC an approximate 9% stake in the company; In Dec 2020, gojek increased its stake in the firm to 22% as part of a strategic tie-up that aims to offer financial services to merchants and drivers in the country. […]
Bitcoin’s appeal grows as more investment platforms facilitate dollar loans backed by cryptocurrencies
More investment firms are giving bitcoin investors an extra avenue to raise cash from their digital assets by accepting cryptocurrencies as collateral for US dollar loans for a fee.Diginex, a Nasdaq-listed fintech firm which runs a cryptocurrency exchange that is licensed in Singapore, plans to offer cryptocurrency borrowing and lending services to its clients from […]
Saudi Arabia tries to come in from the cold
SINGAPORE — As COVID-19 vaccination programs roll out across the world, tourism-dependent countries are feverishly hoping that visitors will return to their cleaner-than-ever shores from sometime this year. One such country is Saudi Arabia, a repressive regime that was previously off-limits to international leisure travelers but now has ambitions to be the world’s fifth most-visited […]