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Silverlake earnings likely to recover, SaaS offering may drive growth: CGS-CIMB

CGS-CIMB on Thursday said it believes the worst is over for Silverlake Axis, and that it expects the fintech firm's earnings to recover in FY21 ending next June, following a weak set of results for its latest quarter.

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Higher salary floor for foreign hires may put financial hub aspirations at risk

RAISING the salary threshold for Employment Passes (EPs) amid recessionary pressures can encourage financial institutions to hire locals, but some economists think such a "protectionist response" can crimp Singapore's financial hub aspirations in the long run.

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Salary floor for Employment Pass holders in finance to be raised to S$5,000

MINIMUM salaries for Employment Pass (EP) holders in the financial services sector will be raised to S$5,000 from December, said the Ministry of Manpower (MOM) on Thursday, setting the bar S$500 higher than the tightened criteria for other sectors in the economy.

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Broker’s take: CGS-CIMB upgrades Silverlake to ‘add’, expects earnings recovery

CGS-CIMB on Thursday said it believes the worst is over for Silverlake Axis, and expects the fintech firm's earnings to recover in FY21 ending next June following a weak set of results for its latest quarter.

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Wilmar, DBS ink agribusiness industry’s first SORA loan

AGRI-FOOD giant Wilmar International has obtained a S$200 million corporate loan pegged to the Singapore Overnight Rate Average (SORA), from DBS.

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Digital-savvy customers pushing Thai banks to embrace fintech: S&P

MAJOR banks in Thailand will likely increase their already substantial investments in technology and innovation over the next few years in a bid to remain competitive, said a report published by S&P Global Ratings on Wednesday.

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Jack Ma’s Ant is more Mastercard than PayPal

Valuing billionaire Jack Ma's Ant Group, which filed its prospectus for a mega initial public offering (IPO) on Tuesday, will be more art than science. It looks like a financial-services company but sells itself as a technology firm. Is it a Mastercard or a PayPal? ...

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StashAway to lower projected rate for cash management portfolio to 1.4%

ROBO-ADVISER StashAway will lower the projected interest rate for its cash management portfolio, StashAway Simple, from 1.9 per cent to 1.4 per cent from Sept 1, the startup announced in an e-mail to customers on Wednesday.

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Asia-Pac fintech funding up 9% in Q2 as investors set sights on Asean, Australia: S&P

FUNDING for fintechs in the Asia-Pacific grew 9.1 per cent in the second quarter as investors shifted their bets to firms in Australia and South-east Asia.

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Share of accounting tasks done by machines to surge by 80%: study

MORE than half of the 11 finance roles picked for a study will be moderately to highly changed by technology in the next three to five years. Those in the two most junior roles will likely be taken over by machines, while the most senior roles will...

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