Retail News CRM

Tag: Singapore

  • Grab in Hiring Spree to Support Financial Services

    Grab in Hiring Spree to Support Financial Services

    The super app is looking to create around 350 new jobs in Singapore this year to support its growth plans.

    The new hires will support Grab’s plans to help micro SMEs digitalize, deliver digital financial services across Southeast Asia, and develop the Grab-Singtel digibank, according to an announcement on its website.

    The hiring drive was announced at a signing of a memorandum of intent with the Infocomm Media Development Authority and Digital Industry Singapore to support the development of Singapore’s tech ecosystem, through the development of its tech talent and R&D capabilities here.

    The vacancies are from fields including artificial intelligence, cybersecurity, data science, software engineering, product management and design. There will also be employment opportunities in areas such as finance, operations, legal, public affairs and business development, Grab said.

    We are building products that positively impact millions across Southeast Asia, and we want to continue deepening our R&D capabilities and push the boundaries of innovation, right here at our strategic base, Tan Hooi-Ling, Grab co-founder, said in the statement.

    Grab previously said it would be pushing into retail wealth by focusing on accessible, convenient, and transparent investment products and solutions while broadening its wealth management offerings that feed into its goal of strengthening its open fintech ecosystem.

    The company has grown its suite of financial products in the past year, rolling out e-money, lending and insurance distribution on its platform, and moved into wealth management with the acquisition of Singapore-based robo-advisor Bento, which was relaunched as GrabInvest.

    It also led a $100 million Series B fundraising round for LinkAja, an e-wallet in Indonesia, where the ride hailer has been vying with competitor Gojek for the top spot in digital payments.

    Lees ook:

  • StarHub and Software AG partner for new 5G IoT platform service

    StarHub and Software AG partner for new 5G IoT platform service

    As Internet of Things (IoT) plays an increasingly important role in driving digital economies and business success, Singapore’s StarHub and Germany-based Software AG have teamed up to offer an end-to-end 5G-ready IoT service to help organizations in Singapore accelerate IoT implementations on a massive scale.

    Through this partnership, StarHub is proud to offer 5G IoT platform service, a new one-stop solution that provides IoT connectivity including StarHub’s 5G, device management, professional services to integrate existing or new systems, and managed services to run the entire IoT environment for any organization.

    As a comprehensive platform, the 5G IoT platform service intelligently connects, manages, and monitors millions of IoT devices deployed for different applications, creates customizable analytics, and provides APIs to integrate with existing and new systems. This will help organizations to accelerate their IoT implementations. It is offered to companies as a service on a subscription model, allowing full flexibility, instant scalability, and financial prudence.

    Charlie Chan, Chief of Enterprise Business Group at StarHub, said: “Amid digital disruption and rapid changes in the economy, StarHub’s call remains the same – Our customers are transforming to remain globally competitive, and we want to be our customers’ enabling partner of choice when it comes to both core connectivity and innovative managed solutions. We are pleased to collaborate with Software AG to provide an advanced, 5G-ready IoT solution that helps our customers across multiple industries including property, retail, and transport, speed up or scale IoT implementations to boost productivity and innovation as well as realize cost-saving.”

    Bernd Gross, CTO of Software AG added: “Data is so fundamentally important for businesses to succeed in the future that they must master how to collect and analyze it if they are to be competitive. 5G brings more speed, lower latency, and support for a massive amount of endpoints, which means that data can flow between the edge and the core of any organization. Once you know what’s happening in every part of your business, you can understand how to make it better – and that is the opportunity we will bring to customers alongside StarHub.”

    StarHub’s 5G IoT platform service allows organizations to aggregate all of its existing IoT applications and connected devices for a real-time, clear overview on a single aggregator platform, without a need for platform migration. New IoT applications and connected devices can also be integrated easily with this aggregator platform. With that, enterprise customers can acquire and analyze massive volumes of data from its existing independent IoT systems to gain new, accurate, in-depth understanding of how well their assets operate, in a consolidated manner.

    In the case of a public transport operator, StarHub’s 5G IoT platform service can provide real-time vehicle tracking, automated inspection of the vehicle condition and predict potential issues of the vehicles to take precautionary measures, improve fleet operational efficiency and reduce downtime. With additional data such as weather, traffic conditions, the operations director can view and analyze these insights from the same dashboard and act accordingly to optimize the fleet.

    For a facility management company, it can use StarHub’s 5G IoT platform service to develop smart building maintenance strategies to serve building owners better, differentiate their services from competition or improves operational efficiencies. This is because the service can bring together separate IoT systems that manage different areas of the facility – electricity consumption, rubbish bin usage, washroom cleanliness, footfall, and more, presenting a complete picture of all IoT data. With the right information and context about what is going on in the building, the facility manager can pinpoint issues and trace faults quickly or carry out preventive maintenance responsibly.

  • Purchasing a Property in Singapore: 5 Things to Take into Account

    Purchasing a Property in Singapore: 5 Things to Take into Account

    Homeownership may remain an elusive dream for many people in other countries, but not so for the citizens of  Singapore. Thanks to the government’s successful public housing scheme, the Lion City is one of the countries with the highest property ownership rate in the world.

    Although there are plenty of opportunities for Singaporeans like you to own a property, it does not mean that the process is always easy. After all, buying a home is a huge decision and a long-term financial commitment that you cannot enter blindly. If you are thinking of purchasing a property in Singapore, make sure to consider the things below.

     Eligibility to Buy a Property

    Before you get excited at the thought of having a property in one of the most desirable cities in Asia, you should first ensure that you are qualified to purchase the home you want. For example, if you intend to buy a private residential property, you need to be a Singaporean citizen who is twenty-one years of age or older. If you are eyeing a Housing and Development Board (HDB) flat, the eligibility requirements will vary depending on the type of sales scheme you will choose.

    An HDB Build-To-Order (BTO) flat, for instance, requires single buyers to be Singapore citizens who are at least 35 years old. Income ceilings are also set for various types of BTO flats, among other restrictions. To check whether you met the eligibility conditions to buy an HDB flat, you may use the “Check Your Eligibility” e-service provided by the HDB.

    Your Current Finances

    Another crucial factor to consider when planning to buy a home is your finances. Make sure that you take a look at your current resources to know whether or not you can afford to purchase a property at this time. Keep in mind that even if you are eligible for a loan and have CPF savings, there are plenty of expenses that you have to cover on your own. To get an idea if you can afford all the costs involved in purchasing a property, try to assess the following:

    • Your personal funds. Examine if you have enough savings to cover upfront costs, such as the agent’s commission; the cost of renovation, furniture, and other miscellaneous expenses; as well as monthly repayments if you suddenly lose your job.
    • Your CPF Ordinary Account (OA) balance. You should also find out how much funds you have in your CPF OA account. Your OA savings and your future monthly CPF contributions are crucial factors in estimating the amount you can spend on buying a property.
    • Income. You need a stable income source if you are buying a property since you need to pay for your monthly mortgage payments and to cover other ongoing expenses, like fire insurance and management service fees. Try using an HDB BTO calculator and similar financial tools to find out the monthly repayments you have to make. This way you’ll be able to gauge whether or not your earnings can cover the cost of acquiring your dream home.

    Your CPF Savings

    Unless you have tons of cash, you will most likely rely on your CPF Savings to purchase a property. Although you can do so under the CPF Housing Scheme, you should remember that your CPF money is primarily for your retirement needs. As such, there is a limit to the amount of CPF savings you can use to fund your home.

    Your CPF withdrawal limit depends on numerous factors like the type of property and home loan you are getting. It is essential to figure out how much CPF savings you can use so that you can better plan on how to finance your new home. Try using the CPF Housing Usage Calculator to get an estimate.

    How Much You Can Borrow

    Apart from finding out how much CPF savings you can use, it is also essential to get an idea of how much money you can borrow to finance your home purchase. Note that lenders determine the loan amount based on the following:

    • Mortgage servicing ratio (MSR). The MSR shows the percentage of your gross monthly earnings allotted for your loan payments. You can compute your MSR by dividing your monthly mortgage payment by your gross monthly income. Note that your MSR should not go beyond 30 per cent if you are buying an HDB flat or executive condominium.
    • Total debt servicing ratio (TDSR). Lenders will also calculate your TDSR (your total monthly debt payments divided by your gross monthly income) to ensure that you still have enough earnings for your living expenses and debt repayments. Know that you cannot take a home loan if you exceed the TDSR limit of 60 per cent. 
    • Loan-to-value limit (LTV). Your LTV limit is the maximum amount you can borrow to finance your home. This limit varies depending on the number of outstanding housing loans you have and other factors.

    Type of Home Loan

    Make it a point to also think about the home loan options available to you when planning to purchase a property. For instance, if you are eyeing a private residential property, you can only borrow from a bank or similar financing institutions. For HDB flats, you have the option to apply for an HDB housing loan if you are eligible, in addition to a bank loan.

    When looking at home loan options, take your time to compare home loans provided by different lenders to find the loan package most beneficial to your needs. Weigh the pros and cons of various home loans, taking into account the following factors:

    • Loan amount
    • Loan term
    • Interest rates
    • Lock-in period and fees, especially penalty fees for early repayment
    • Special features and discounts

     Buying a home is not a decision that you can take lightly. It requires careful planning and honest assessment of your finances so that you will not end up biting off more than you can chew. Be sure to consider the points discussed above to help you decide if you are in the best position to achieve your homeownership goal today.

     

  • HSBC Replaces Singapore Chief

    HSBC Replaces Singapore Chief

    HSBC has named a new Singapore chief executive to succeed Tony Cripps who is set to leave and join Saudi British Bank.

    Wong Kee Joo has been appointed as HSBC’s new Singapore CEO, according to a report citing an internal memo.

    Wong replaces Tony Cripps who is set to become the managing director-designate and board member of the Saudi British Bank (SABB), where HSBC is the largest shareholder at 31 percent, effective April 4.

    Before Wong takes on the new role on June 1, HSBC Singapore’s chief operating officer Olfert De Wit will act as the interim Singapore CEO.

    Wong is currently the Asia Pacific head for global liquidity and cash management and according to HSBC’s deputy chairman and chief executive Peter Wong, such a role has enabled «strong experience in developing digital solutions for wholesale clients and supporting the trade and investment flows between China and ASEAN.

    He had also previously worked in various markets including the U.K., Thailand, Hong Kong, and mainland China.

    We will be increasing our investment in both people and technology as we continue to strengthen our wholesale banking services and to grasp the growing wealth management opportunities in Southeast Asia and beyond, the memo said.

  • SGX Eyes More M&A for Growth

    SGX Eyes More M&A for Growth

    Singapore Exchange will look to scale up its operations by maintaining focus on mergers and acquisitions.

    SGX chief executive Loh Boon Chye said the city-state’s bourse will remain focused on mergers and acquisitions as a means of growth.

    It fully acquired foreign exchange trading platform BidFX after obtaining the remaining 80 percent stake in June last year. Earlier in 2020, it acquired a majority stake in index provider Scientific Beta.

    We are not stopping our M&A focus,» Loh said in a report. We have said we will bulk up and given that we are now a multi-asset exchange, one of the ways is to also scale up further. We will look at acquisitions.

    According to Loh, SGX is set to achieve the 2025 target of having 50 percent of its revenue generated by its fixed income, currencies and commodities segment, alongside data, connectivity and indices, earlier than expected.

    SGX continues to expand its product offering with plans to roll out infrastructure for carbon credit trading with select partners and the potential introduction this year of blank-check vehicles or SPACs (special purpose acquisition company), according to a separate report.

  • UOB Partners to Help Singapore Firms Expand

    UOB Partners to Help Singapore Firms Expand

    The bank has signed a strategic partnership agreement with Singapore Business Federation to connect Singapore businesses to opportunities across Asean, especially in Indonesia, Thailand and Vietnam.

    UOB will help more Singapore companies seize cross-border business opportunities as the financial partner of GlobalConnect@SBF strategic partnerships initiative, the bank announced in a statement on Friday.

    Under the agreement, both organizations will share information and resources with Singapore companies, including SBF’s 27,000 members, and provide on-ground assistance. UOB will also provide financial support and help the businesses in their digitalization journey.

    The bank noted that its extensive network and strong presence in Asean will complement the initiative to facilitate Singapore businesses making in-roads into the region, and emphasized the region’s $3 trillion economy and growth prospects.

    Having weathered the worst of the COVID-19 pandemic, companies are now looking for growth and expansion opportunities. One of the most compelling opportunities is where UOB has strongest presence – ASEAN, with its fast-growing economy and vast potential, Wee Ee Cheong, UOB deputy chairman and CEO, said.

    Lees ook:

  • HSBC Singapore CEO to Depart for New Role

    HSBC Singapore CEO to Depart for New Role

    He will be taking on a new role at the Saudi British Bank (SABB) – 31-percent owned by HSBC – from April 4.

    HSBC Singapore will be naming a new chief executive to succeed Tony Cripps, who will be managing director-designate and board member of SABB, the bank said in an internal memo signed by deputy chairman and chief executive Peter Wong.

    Cripps was appointed HSBC Singapore CEO in 2017. He was previously chief executive of HSBC Australia, chief executive of HSBC in the Philippines, and held leadership positions in HSBC’s Global Banking and Markets business in London and Hong Kong.

    Wong said that under Cripps’ leadership, HSBC made key people hires, strategic technology upgrades and proposition enhancement, which resulted in strong underlying revenue growth for the franchise and its wider Asean business.

    He added that HSBC will build on the «clear and focused strategy» Cripps developed, as the bank aims to increase its capability and presence across the region.a

    Lees ook:

    Lees ook:

  • IntSights grows APAC footprint with Pacific Tech partnership

    IntSights grows APAC footprint with Pacific Tech partnership

    IntSights, the threat intelligence company focused on democratizing threat intelligence, announced the appointment of Pacific Tech as its regional distributor in Singapore, Malaysia, and Thailand. The collaboration further strengthens IntSights’ network in the region to meet the fast-growing demand for threat intelligence as enterprises look to gain greater visibility and control over threats outside the wire.

    IntSights offers unique cyber reconnaissance capabilities and patented data-mining algorithms that give customers the deepest and most actionable intelligence on the market. The IntSights platform has the ability to discover, analyze, and mitigate external threats across PaaS, SaaS, and IaaS, which is critical in the remote work scenario. The new partnership with Pacific Tech aligns with IntSights global growth initiatives and affirms the company’s commitment to the region.

    Pacific Tech is an award-winning value-added distributor with more than a decade of experience in providing cybersecurity, data protection, managed security services, and IOT security solutions to customers in APAC. Pacific Tech will be distributing the full range of IntSights products, services, and solutions to the system integrator and value-added reseller channel communities; as well as end clients from target verticals including e-commerce, energy, financial services, government, healthcare, and retail.

    “We are delighted to work with IntSights as we continue to deliver value-added solutions to our partners and customers,” said Andy Woo, Regional Director, Pacific Tech. “With our regional business-coverage, especially in ASEAN, we are well-positioned to bring IntSights best-in-class solutions to enterprises in the region. IntSights has taken the complexity out of threat intelligence, and the broad accessibility to IntSights solutions will address today’s organizations’ need for effective cyber intelligence solutions.”

    “Amidst the challenging environment, IntSights continued to grow at more than 60 percent YoY in 2020 with a record fourth quarter. Asia Pacific has been one of the focus regions for growth, and we are increasing our investments in engineering, product management, sales, and marketing in the region,” said Michael Tan, Regional Director of APJ, IntSights.

    IntSights has adopted a channel-driven GTM and is being distributed by some of the biggest, most influential partners in the world. We see synergy and opportunities through our partnership with Pacific Tech as we continue our growth momentum. It is an opportune time to extend the alliance ecosystem to scale our capabilities to aid enterprises of any size to counter cyber threats today.”

    Lees ook:

    Lees ook:

    Lees ook:

  • HSBC Singapore CEO to Depart for New Role

    HSBC Singapore CEO to Depart for New Role

    He will be taking on a new role at the Saudi British Bank (SABB) – 31-percent owned by HSBC – from April 4.

    HSBC Singapore will be naming a new chief executive to succeed Tony Cripps, who will be managing director-designate and board member of SABB, the bank said in an internal memo signed by deputy chairman and chief executive Peter Wong.

    Cripps was appointed HSBC Singapore CEO in 2017. He was previously chief executive of HSBC Australia, chief executive of HSBC in the Philippines, and held leadership positions in HSBC’s Global Banking and Markets business in London and Hong Kong.

    Wong said that under Cripps’ leadership, HSBC made key people hires, strategic technology upgrades and proposition enhancement, which resulted in strong underlying revenue growth for the franchise and its wider Asean business.

    He added that HSBC will build on the «clear and focused strategy» Cripps developed, as the bank aims to increase its capability and presence across the region.

    Lees ook:

  • Singapore Fintech Partners MoneyGram

    Singapore Fintech Partners MoneyGram

    The integration and implementation of Lightnet’s technology with MoneyGram’s money transfer services will provide customers with a wide selection of payout services across Southeast Asia.

    The Singapore-headquartered fintech company will provide its Bridgenet solution to enable money transfer operators to connect with MoneyGram’s money transfer service, broadening the range of payout services, the company said in an announcement.

    The success of this collaboration reflects Lightnet’s commitment towards improving the efficiency, convenience, affordability and accessibility of cross-border remittances. Lightnet is working tirelessly to make these kinds of services available to everyone, Tridbodi Arunanondchai, group CEO and vice chairman of Lightnet, said.

    Lightnet was co-founded in 2018 by Chatchaval Jiaravanon – a family member of the Charoen Pokphand group in Thailand – and Arunanondchai, a tech entrepreneur and former investment banker.

    The startup raised $31.2 million in 2020, in a Series A funding round led by UOB Venture Management. It also partnered Swiss crypto bank Seba to offer remittance services for migrant workers in Asia, and partnered Velo Labs and Visa to serve the micro, small and medium enterprise (MSME) lending market.

    Lees ook:

  • Singapore Banks Throw Weight Behind Green Vehicles

    Singapore Banks Throw Weight Behind Green Vehicles

    Ahead of Tesla’s launch in Singapore, DBS is has announced financing for new and used electric and hybrid cars, while a partnership with OCBC will boost the availability of electric vehicle charging points.

    As part of DBS’ efforts to incentivize the adoption of green practices and carbon footprint reduction, the bank is rolling out Singapore’s first green car loan, which is priced at 1.68 percent per annum, it announced on Monday.

    The bank said there is much room for growth, citing Norway’s 54 percent electric car market share, compared to Singapore, where there are 43,000 electric and hybrid cars – only 6.8% of the car population.

    It also said that lending to the electric vehicle instead of the combustion engine vehicle sector has lower environmental and social costs of approximately 40 percent and 16 percent respectively.

    To accelerate the greening of Singapore’s land transport sector, OCBC Bank announced a strategic partnership with Charge+, an operator and provider of electric vehicle (EV) charging solutions that plans to install 10,000 EV charging points islandwide by 2030.

    Under the memorandum of understanding signed by the two parties, OCBC Bank will encourage its property developer and property owner customers to install charging points at their premises, implement digital payment solutions for the charging service, and look into the financing for the infrastructure, an announcement on Monday said.

    Just having the infrastructure is not good enough. There must be public adoption to enable a clean energy transportation system too. OCBC can therefore play the role as a meaningful financial services enabler in the electric vehicle ecosystem, Elaine Lam, OCBC head of global corporate banking, said in the announcement.

    Last week, electric carmaker Tesla began taking orders for its Model 3 Standard Range and the Model 3 Performance in Singapore, which are priced from S$116,334 ($88,000), excluding COE.

    The cars have a Vehicular Emissions Scheme (VES) banding, which entitles potential buyers to a S$25,000 rebate. Under the Electric Vehicle Early Adoption rebate scheme announced in 2020, customers who buy a new electric car also qualify for a 45 percent rebate on its Additional Registration Fee, capped at S$20,000.

    The Singapore government in 2020 said it aims to phase out fossil fuel vehicles by 2040.

    Lees ook:

    Lees ook:

  • SGX Joint Venture to Launch Asian Bond Trading Platform

    SGX Joint Venture to Launch Asian Bond Trading Platform

    The XinTru joint venture with corporate bond trading platform provider Trumid and private equity firm Hillhouse Capital, will launch a new electronic bond trading platform later this year.

    This partnership combines Trumid’s cutting-edge technology and fixed income expertise, SGX’s deep experience in Asian financial market infrastructure and electronic trading, and Hillhouse’s expertise and network in Asia and the financial services sector», SGX said in a statement on Monday.

    The Trumid XT platform will connect liquidity from SGX’s Bond Pro and Trumid’s Market Center in the U.S. to provide a network for Asian fixed-income trading. This will enhance international access to Asian bond markets and facilitate Asian investor participation in U.S. and global emerging market credit, SGX said.

    XinTru’s independent management team includes chief revenue officer Ben Falloon who brings 20 years of Asia fixed income experience and relationships, and chief operating officer Mark Leahy, who has significant experience building and operating capital markets businesses in the region.

    SGX led a $53 million growth equity financing round in the New York-based startup in 2018, and subsequently joined Hillhouse Capital in another round of investment in 2019 when the firm took a minority stake in Trumid.

    Our early investment in Trumid paved the way for this deeper collaboration to advance the overall bond market infrastructure in Asia,” said SGX chief Loh Boon Chye.

    Trumid experienced exceptional growth in 2020, with trade volumes growing 374 percent year-on-year.

    Lees ook:

    Lees ook:

  • Singapore retail sales slide overall while E-commerce goes up

    Singapore retail sales slide overall while E-commerce goes up

    Singapore retail sales – excluding motor vehicles – fell 4.5 percent y-o-y last Dec, a slightly higher decline than Nov’s 2.8 percent. M-o-m sales were down 0.7 percent. DOS estimates total retail sales value at SGD3.5 billion (US$2.62 billion) and that online retail sales accounted for 12.6 percent of that. The strongest categories online were computer and telecommunications equipment, accounting for 35.2 percent of the category’s overall turnover, furniture and homewares (23.4 percent) and supermarkets (11.8 percent).

    Most retail industry categories posted declines in sales in Dec on a y-o-y basis. However, supermarkets and hypermarkets, computer and telecommunications equipment, and furniture and homewares recorded growth rates of between 20.8 percent and 25.3 percent, due mainly to higher sales of groceries, mobile phones and household appliances respectively.

    Sales of recreational goods rose 10.3 percent, largely driven by strong demand for sporting goods. Sales of F&B services fell 16.5 percent in Dec, y-o-y, which was a lesser rate than Nov’s 22.4 percent decline. Online orders made up 19.9 percent of the estimated total spend of $800 million.

    Lees ook:

    Lees ook:

    Lees ook:

  • Amazon, Enterprise Singapore to help small businesses venture offshore

    Amazon, Enterprise Singapore to help small businesses venture offshore

    Amazon announced today at the inaugural Amazon Southeast Asia Online Seller Summit 2021 additional resources and support for small and medium-sized businesses (SMBs) in Singapore to start selling online and expand globally through its stores. Amazon announced that it is extending the waiver of professional selling account subscription fees for new and existing sellers, until 30 June 2021. This support builds on Amazon’s current initiatives such as the online seller education series, Seller University, and over 225 free tools and services to help sellers grow their sales in Amazon’s stores in Singapore and worldwide.

    In addition, Amazon is teaming up with Enterprise Singapore (ESG) to help local retailers scale globally. Enterprise Singapore will support these efforts through the Market Readiness Assistance (MRA) scheme. Support will be capped at S$100,000 per new country, includes support for up to 70% of eligible costs for overseas promotion, overseas business development, and overseas country set-up, and gives SMBs the flexibility to expand across new countries at their preferred pace. This is one of several measures that local enterprises can tap on through ESG to grow and diversify their businesses.  More details can be found in ANNEX.

    “We will double-down on efforts to support our local businesses in gaining e-commerce capabilities and maximizing their growth opportunities from the digital economy. To help companies access customers in new countries, ESG has also been working with Amazon to onboard Singapore sellers to Amazon as a channel for international sales, such as in the US, Canada, and India. Support is available for Singapore companies that are looking to expand to these countries,” said Minister for Trade and Industry, Mr Chan Chun Sing.

    “Small businesses are an essential part of Amazon’s DNA. Through the Amazon Southeast Asia Online Seller Summit 2021, we aim to enable more local sellers to reach a global audience through our 20 stores worldwide. Whether they are just getting started or are an experienced seller, Amazon’s comprehensive programs and network will help SMBs overcome operational challenges to maximize growth opportunities globally,” said Henry Low, Country Manager, Amazon Singapore.

    The Southeast Asia Online Seller Summit, being held today and tomorrow, has drawn over 3,000 participants who are interested to understand how they can sell with Amazon, scale their businesses, and seize cross-border opportunities. Guest-of-Honour, Minister for Trade and Industry, Mr Chan Chun Sing, leaders of Amazon Singapore, industry experts, and local business owners selling on Amazon.sg came together on Day 1 to discuss local and regional retail trends and offer insights on how SMBs can ‘Start Local, Go Global’ with Amazon.

    Connecting sellers to exchange best practices.

    As part of the Summit, Amazon hosted a panel of SMB founders to share experiences of growing their business online and their journey with Amazon. Through the support of Amazon’s global network and its logistics and inventory solutions such as Fulfilment by Amazon (FBA), each of them has expanded to serve customers globally – all from the comfort and safety of their homes.

    “When I started Rui Smiths in 2014, selecting Amazon as the e-commerce store for my business was a no brainer. Amazon has been offering an unparalleled service that perfectly fits my needs, since my initial days as a new business owner, allowing me to expand internationally from the get-go. In just 4 years, with Amazon, we had hit S$200,000 in sales and were already selling in the US, UK, and Australia,” said Debbie Cai, founder, Rui Smiths. “I hope the insights and resources shared at the Summit will help many local sellers like myself grow their business not only in Singapore but also beyond shores for customers everywhere.”

    Local resources for sellers in Singapore to unleash and maximize global growth opportunities

    To date, Amazon has provided support to thousands of SMBs keen to sell online with Amazon.sg and its stores globally and continues to help many of them go digital and build thriving businesses. To shine the spotlight on more local retailers, Amazon continues to promote a dedicated “Shop Local” storefront on Amazon.sg, featuring local brands’ founding stories and a plethora of products in categories such as home and home improvement, electronics, kitchen and dining, health and personal care, toys and games, groceries and more.

    Other resources introduced include the Amazon Seller App for local sellers with accounts on Amazon.sg to track sales and manage their business via mobile, the Marketplace Appstore, a one-stop shop to discover third-party applications and services for automating tedious business aspects, and the Seller Forum, a resource for first-hand advice from fellow business owners on selling with Amazon. Sellers can also join the Sell on Amazon Singapore Facebook page to connect with the community of sellers on Amazon.sg.

    These initiatives are furthered by Amazon.sg’s ongoing collaboration with Infocomm Media Development Authority (IMDA) for the Digital Resilience Bonus, offering eligible SMBs a bonus of up to S$2,500 for selling on e-commerce channels like Amazon. The bonus is available to eligible local retailers until 30 June 2021.

    Lees ook:

  • HSBC Appoints Singapore Commercial Banking Head

    HSBC Appoints Singapore Commercial Banking Head

    HSBC has promoted a Hong Kong corporate banker previously covering the tech sector to become its head of the commercial banking unit in Singapore.

    Regina Lee has been named as HSBC’s Singapore head of commercial banking, according to a statement, effective March 1 this year.

    Lee will replace Alan Turner who will relocate to the commercial banking unit in Canada after three years in Singapore.

    She will report to CEO of HSBC Singapore Tony Cripps and APAC head of commercial banking Stuart Tait.

    Lee has over 20 years experiencing across corporate and commercial banking. She was most recently a managing director of corporate banking in HSBC’s Hong Kong unit where she led the coverage team for TMT (technology, media, and telecommunications), consumer, retail and commodities.

    In addition, Lee has extensive operational and risk management experience as HSBC’s former chief operating officer for the commercial bank in Hong Kong and she also separately oversaw operational risk and control division for commercial banking in the broader APAC region. Previously, she also led business development for HSBC Hong Kong’s global trade and receivables finance business and the commercial banking business in Macau.

    Singapore continues to be a strategic growth market for the group, offering significant opportunities from its increasing status as an international investment hub and springboard to Southeast Asia, Cripps said.