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Will Singapore's Fave succeed in India following Pine Labs acquisition?

Will Singapore's Fave succeed in India following Pine Labs acquisition?
ANI |
Updated: Apr 19, 2021 12:16 IST
By Lee Kah Whye
Singapore, April 19 (ANI): Last week, Noida based Pine Labs announced that it is acquiring Fave, one of Southeast Asia's fastest growing fintech and e-commerce startups in a cash plus stock deal.
Pine Labs said in a press release that it is paying over SGD 60 million (USD 45 million) to take over the Singapore-based company. Fave's investors will receive cash whereas the founders and key Fave employees will receive cash and shares of Pine Labs.
Fave count among its backers Sequoia Capital India, China-based SIG Asia Investments, and Indonesian venture capital firm Venturra Capital.

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What Indian tourists will find when they return to Singapore

What Indian tourists will find when they return to Singapore
ANI |
Updated: Apr 11, 2021 10:55 IST
By Lee Kah Whye
Singapore, April 11 (ANI): With vaccinations against the COVID-19 well underway around the world, many are hoping that leisure and regular business travel will soon resume.
According to government data compiled by the Our World in Data project at the University of Oxford, as of April 9, 6.2 per cent of Indians have received at least one vaccination shot whereas Singapore has vaccinated 19.3 per cent of its 5.8 million population with at least one dose of the vaccine as of April 6.
Singapore will have the capacity to vaccinate its entire population by the third quarter of this year but expect that the rollout will not be completed until the end of the year as some are still hesitant to take the vaccine.

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Singapore's DBS Bank to focus on India and China for growth

Singapore's DBS Bank to focus on India and China for growth
ANI |
Updated: Apr 05, 2021 14:24 IST
By Lee Kah Whye
Singapore, April 5, 2021 (ANI): Singapore's DBS Bank, which acquired India's Lakshmi Vilas Bank (LVB) last November, plans to accelerate its business by doubling down on growth markets of India and China.
DBS Group CEO, Piyush Gupta, said this when briefing investors, analysts, and the media at its virtual annual general meeting (AGM) last week.
In spite of the health crisis and economic chaos caused by the COVID-19 pandemic, Southeast Asia's largest lender by total assets achieved its highest ever operating profit of SGD 8.4 billion (USD 6.3 billion). This was an increase of two per cent over the previous year. Total income held steady at SGD 14.6 billion (USD 10.9 billion) which was about the same as in 2019.

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Foreigners including Indians bear brunt of Singapore COVID Job losses

Foreigners including Indians bear brunt of Singapore COVID Job losses
aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.

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AirAsia Food launches food delivery service: Will other airlines follow?

ANI |
Updated: Mar 15, 2021 11:45 IST
By Lee Kah Whye
Singapore, March 15 (ANI): Malaysian discount carrier AirAsia, which co-owns AirAsia India with Tata Sons, has launched a "no-frills" food delivery service in Singapore.
This is aligned with their "super-app" strategy to diversify revenues following the devastation caused by the COVID-19 pandemic to the airline industry. Airlines around the world are struggling to stay afloat and are finding ways to generate some revenue in whatever form.
In a report published on March 5, IATA (International Air Transport Association) said that air travel measured by Revenue Passenger Kilometres (RPKs) fell in January, from levels in December, and was 72 per cent lower than in the pre-crisis month of January 2019. This setback for the airlines' passenger business was driven by tightening government travel restrictions across the world, following the emergence of COVID-19 variants.

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Singapore ranks First, India 26th in Asia-Pac in latest Economic Freedom Index

Singapore ranks First, India 26th in Asia-Pac in latest Economic Freedom Index
ANI |
Updated: Mar 08, 2021 13:18 IST
By Lee Kah Whye
Singapore, March 8 (ANI): Singapore topped the global ranking for the second year in a row in the latest Economic Freedom Index published last week by US conservative think-tank, The Heritage Foundation.
Singapore increased its overall score by 0.3 points to 89.7 primarily due to an improvement in the score for government spending. Singapore's score is well-above the regional and world averages.
Rounding up the global top five are New Zealand in second place with 83.9 points, Australia, third (82.4 points), Switzerland in fourth with 81.9 points and Ireland (81.4 points).

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Would India benefit from businesses relocating from Myanmar?

Would India benefit from businesses relocating from Myanmar?
By Lee Kah Whye |
Updated: Mar 01, 2021 16:33 IST
Singapore, March 1 (ANI): When Myanmar's military seized power after detaining Aung San Suu Kyi and other democratically elected leaders in the early hours of February 1, they would have anticipated a civilian uprising, international condemnation and likely trade and financial sanctions.
They probably calculated that such a move, as has happened in the past, will result in initial months of unrest and international tension which would gradually subside into the background as other more important global events take over the attention of the international community.
What could be different this time is that the people of Myanmar, after having tasted relative freedom from military rule since 2010, could feel they have more at stake compared with 1990 when the military last invalidated the result of a general election.

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COVID-19 Impact: How Southeast and South Asian Airlines are faring

COVID-19 Impact: How Southeast and South Asian Airlines are faring
aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.

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Singapore Airlines narrows quarterly losses by leaning on cargo revenue

Singapore Airlines narrows quarterly losses by leaning on cargo revenue
ANI |
Updated: Feb 08, 2021 12:00 IST
By Lee Kah Whye
Singapore, February 8 (ANI): Increased flights and lower write-downs resulted in Singapore Airlines (SIA) reporting lower losses of SGD 142 million (USD 106 million) in its fiscal Q3 which ended December 31, 2020. This compares favourably with the huge SGD 2.34 billion (USD 1.75 billion) net loss it incurred in the previous quarter.
Although this was a weaker performance compared with the SGD 315 million (USD 235 million) it made in the corresponding quarter in 2019, it is unsurprising considering the severe impact the COVID-19 pandemic has had on the travel industry last year.

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Sequoia India helps fund Indonesia's BukuKas but are there too many digital bookkeeping apps?

ANI |
Updated: Jan 18, 2021 12:30 IST
By Lee Kah Whye
Singapore, January 18 (ANI): Last week, BukuKas, an Indonesian-based digital bookkeeping start-up, announced it had raised USD 10 million in Series A funding which was led by venture capital firm Sequoia Capital India, a subsidiary of famed global tech investment company Sequoia Capital.
The latest capital injection brings Buku Kastotal funding to date to USD22 million. Investors involved in Series A include Saison Capital, January Capital, Founder bank Capital, Cambium Grove, Endeavor Catalyst and Amrish Rau
BukuKas is a mobile credit tracking and accounting application designed to help Micro, Small, and medium-sized enterprises (MSMEs) manage their cash. It digitises physical financial record-keeping by assisting businesses to record their financial statements, monitors their sales, profit and credit automatically. As a result, it enables MSMEs to better monitor and manage cash flows and ultimately makes it easier for them to track overall business processes and performance.

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