The Business Times

MP Tin Pei Ling leaves Grab after seven months; will join fintech Tin’s initial appointment at Grab in January, as Singapore director of public affairs and policy, drew a public backlash.

Anti-money laundering bust that seized S$1 billion could be ‘tip of the iceberg’ The crackdown is “long overdue” as there have been suspicions about the sources of funds of many wealthy foreigners from certain countries…

OCBC, SPF say joint operation prevented scam losses of over S$22.4 million The operation used robotic process automation technology to automatically identify job, investment and other scam victims.

Singapore startup lets drivers access wider EV charging network from within existing apps The 11 operators in the network are SP Group, CDG Engie, Charge+, Quickcharge.Sg, Go by City Energy, MNL, EVOne, Busways, Airetec,…

#BTOpinion: GXS Bank must incentivise usage to chart its path to profitability GXS has managed to boost its customer base through attractive interest rates, but the digital bank race is a long one.

Shopee’s shift to growth shows fear over TikTok Shop’s rise Sea is looking to take the fight to TikTok on its turf – video, with investments planned to beef up its livestreaming commerce and short form-videos.

Amid price war, ‘virtual telcos’ need to differentiate or die Singapore’s first MVNO, Circles.Life, reportedly started cutting jobs since May to streamline its business, while its co-founder also stepped down as part of…

Singapore key exports contract 20.2% in July in steepest slide since January It's a sharper fall than June’s 15.6% contraction and marks the 10th straight month of decline.

10 foreigners charged over role in crimes linked to about S$1 billion in cash and assets The first to appear before the court was Su Haijin, 40, a Cypriot national, who was charged with one count of resisting arrest.

S$1 billion in cash and assets seized and frozen; 30 foreigners probed for money laundering and forgery The group lived in good class bungalows (GCBs) and high-end condominiums, and owned luxury cars. Some 94 properties…

All square after Malaysia’s state polls, but no smooth ride for Anwar’s unity government The financial market has reacted differently to the election outcomes, with the ringgit continuing to depreciate against the US dol…

#BTOpinion: Age well, but grow the population too for a vibrant Singapore Should we dream of being a 10 million-strong city in the near future? With many Asian cities growing their economies rapidly, Singapore’s lack of…

Singapore’s reserves: A refresher Prime Minister Lee Hsien Loong talks at length about the Republic’s reserves in a broadcast interview. Here are some excerpts to help you understand how Singapore's reserves work.

Sembcorp Marine commercial executive charged with corruption Balakrishnan Govindasamy, 61, was said to have corruptly obtained and attempted to obtain gratifications in the form of cash totalling at least S$202,877 betwe…

Singapore tourist arrivals grow to 1.4 million in July on strong return of Chinese visitors Overall arrivals this year are set to exceed 13M, surpassing last year's total 6.3M visitors.

S’pore’s president does not need work experience at MAS or GIC: George Goh The 63-year-old presidential hopeful pointed out that past presidents have not worked at either entities, but were still elected to the role.

Slower growth means Singapore can no longer rebuild reserves if they are gone: PM Lee “Once it is gone, it will never come back again. It is finished. You cannot build it up again,” Prime Minister Lee Hsien Loong said in…

#BTOpinion: As risks heighten, it makes sense for developers to collaborate, not compete, when buying land The imperative for developers to form tie-ups to bid for land has become more acute. For one, absolute land price…

Travel sector dividends to reach US$8.5 billion in FY2024 on sustained recovery, demand growth: report This comes as visitor arrivals in Apac rebounded strongly this year after the easing of Covid-related restrictions.

Court dismisses OK Lim family’s appeals to stop Rajah & Tann from acting for liquidators A judicial commissioner pointed out that the Lims did not show that they sustained losses personally or that they would seek compen…

Another gym bites the dust; Fenix Fitness closes abruptly, with S$5 million owed to 400 creditors Members of Fenix Fitness were informed via email on Monday evening (Aug 14) that the company will be ceasing its operation…

Sea posts Q2 profit of US$331 million Sea reported a third consecutive profitable quarter, posting a US$331 million profit for Q2 2023 ending Jun 30, compared to a loss a year prior.

Why China’s US$2.9 trillion trust industry is sparking fears of contagion Once seen as a safe place for wealthy Chinese to park their money for hefty returns, trust firms have defaulted on billions of dollars of investme…

Lucasfilm winds down Singapore operations due to industry challenges Lucasfilm sold its Sandcrawler building in Singapore to US private equity giant Blackstone Group in 2021.

DBS’ Piyush Gupta calls for rethink on Singapore’s reserves The administration should consider whether to use it to “address the underbelly of society” or more importantly, to scale up Singapore’s presence in new sectors…

Clementi, Pine Grove sites for about 1,065 units could draw bids of up to S$1,200 psf Of the two sites, the Clementi plot is likely to see stronger interest, as it sits in an area where there have been few new projects r…

New private home sales surge in July with 4 major launches, but sentiment may be turning Buyers are likely to be “very cautious”, say industry players, with one adding that "the 70-80% sell-out rate we had for some condo…

MAS revises stablecoin regulatory framework, prepares for industry consultation Monetary Authority of Singapore revised its stablecoin regulatory framework, as it aims to maintain a higher degree of stability within stab…

Housekeeper, porter added to jobs list where firms can hire non-traditional work permit holders Such hires must be paid at least S$2,000 a month and cannot form more than 8% of the employer’s total workforce.