Singapore

UnaFinancial: share of fintech in the GDP of Singapore will reach 3.56 percent in 2027

Analysts of UnaFinancial has projected that share of fintech in the gross domestic product (GDP) of Singapore will reach 3.56 percent in 2027. In 2022, 0.32 percent of Southeast Asia (SEA)’s GDP consisted of venture and other investments in the fintech industry. By 2027, this share is projected to reach 1.65 percent, growing five times.

Malaysia’s RAM partners MVGX Tech, CRM to expand ESG analytics capabilities

Malaysian credit rating agency RAM Holdings Berhad (RAM) has entered into a commercial partnership with Singapore-based carbon software-as-a-service (SaaS) company MVGX Tech (MVGX) and Malaysian advisory firm Carbon Rating Malaysia Sdn Bhd (CRM) to strengthen RAM’s environmental, social, and corporate governance (ESG) rating capabilities.

Twin Towers Ventures invests in Green Li-ion as a new strategic partner

Green Li-ion, a lithium-ion battery recycling technology company, has on Tuesday announced Twin Towers Ventures (TTV), the investment arm of Petronas Ventures, as its newest strategic partner. TTV joins other previous investors in Green Li-ion, including Singapore-based decarbonization venture capital firm TRIREC, global venture capital firm SOSV, and…

Singapore’s RegenX secures $500,000 pre-seed funding from Wavemaker Impact

Singapore-based regenerative agriculture-focused climate tech firmRegenX has secured $500,000 in Pre-seed funding from venture capital climate tech venture builder Wavemaker Impact. The firm which is already onboarding farmers and buyers on its platform, will use the fresh round of funding to accelerate its growth in the coffee space in Vietnam.

CapitaLand Investment acquires logistics property in South Korea for $82.5M

Singapore-based real estate investment firm CapitaLand Investment Limited’s (CLI) has acquired a newly completed, Grade A logistics property in South Korea for SGD 112 million ($82.5 million). The acquisition was done through its flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF).

KKR to acquire 20 percent stake in Singtel’s regional data center business for $800M

Singtel, Singapore-based communications technology group, and United States-based investment firm KKR have reached a definitive agreement under which a fund managed by KKR will commit up to SGD 1.1 billion ($800 million) for a 20 percent stake in Singtel’s regional data center business.

Singapore’s SMI Vantage to set up Bitcoin mining business in Malaysia

SMI Vantage Limited, a Singapore-based firm focused on developing new economy businesses, plans to set up its Bitcoin mining business in Malaysia. The firm will begin the process of installing the first of its two containerized mining rigs and expects to commence mining Bitcoin in the third quarter of 2023.

Singapore-headquartered SHEIN allocates additional $85M for global community empowerment

SHEIN, a global, integrated, fashion and lifestyle marketplace , announced Thursday that it is allocating an additional $85 million over five years towards initiatives that support the "Equitable Empowerment" pillar of its evoluSHEIN roadmap. This is in addition to $70 million already committed in April.

SGX partners BlackRock to launch $426M climate action fund for Asia

Singapore exchange (SGX Group) has partnered American multinational investment company BlackRock to launch $426 million climate action fund for Asia.

Singaporean med-tech firm AWAK Technologies raises $20+ million in Series B funding

AWAK Technologies (AWAK), a Singaporean medical technology company focused on dialysis using regeneration technology for end-stage renal disease, has on Wednesday announced it has successfully raised $20+ million in Series B funding. The round was co-led by venture capital firms Lion X Ventures and Vickers Venture Partners.