Singapore ‘s , Grab , Holdings , GRAB. O , raised its forecast for fiscal 2024 revenue on Monday ( Nov 11 ), as it anticipates robust growth in its food delivery and ride-hailing businesses. US-listed shares of the company  , jumped over 10 per share in prolonged trading. The firm expects earnings inContinue Reading
Collektr, the first and premier livestream collectibles platform in the Asia-Pacific ( APAC ) region, has secured its pre-Series A funding round, bringing its total investment to US$ 1.3 million ( RM5.74 million ) to date. With its goal to change the collectibles marketplace across APAC, Collektr‘s modern role in the growing livestream commerce sector is highlighted by the investment.
Led by AC Ventures Malaysia, this square also saw contribution from The Hive Southeast Asia, Creador Foundation, and 18 popular angel investors, including seasoned managers and owners from different companies.
Building on the speed of Collektr’s plant large led by First Move, the new investment may fuel Collektr’s progress across the APAC area.
” We are honoured by the trust our investors have placed in Collektr’s vision to spearhead the future of collectibles and livestream commerce”, said Adlin Yusman ( pic, below ), CEO of Collektr. This funding enables us to expand rapidly throughout the APAC area, starting with Singapore, while also continuing to provide collectors with a powerful and stable platform. We invite regional businesses and retailers to meet us in creating a radiant ecosystem where enthusiasts can discover, link, and indulge their passions through creative livestream auctions.
Ng Yi Chung ( pic ), Partner at AC Ventures Malaysia said,” Livestream commerce is a multi-billion industry that is growing rapidly. Collektr’s daring, revolutionary approach with the ability to perform live-bidding has really revolutionized how to delight and excite customers.
captured the interest of regional buyers. We think they are heading in the right direction to fundamentally alter the world of souvenirs and live-streaming. This investment is n’t just about fueling growth, it’s about backing Collektr to take risks, break the mould, and set a new standard for online auctions and marketplaces”.
Since its album in April 2023, Collektr claims it has emerged as APAC’s top video app for items. It offers over 100, 000 special, authorized products from a fast growing community of trusted dealers across high-demand groups like Trading Card Games, Comics, Sneakers, Handbags, and Art. Collektr’s commitment to quality, accountability, and safety sets it apart in the industry, with a thorough screening process for every seller and a strong dispute resolution system that ensures trust in every transaction.
Collektr reported that its growth rate exceeded the engagement metrics used by traditional e-commerce startups, surpassing over 10,000 monthly active users, and exceeded those of Collektr. Its expanding seller base and user loyalty strengthen its position as the market’s leader in an ever-evolving market, while its dynamic approach to livestream commerce has made it the go-to destination for collectors. It is actively seeking strategic partnerships with sellers, merchants, and collaborators to enrich its marketplace with exclusive, rare, and unique items.
The startup is working hard to create a safe, entertaining, and rewarding marketplace for all by creating a vibrant collector community across APAC and invites sellers and potential partners from across APAC and beyond to participate in its journey.
In Asia, mainly in Southeast Asia, there was a growing hunger and need for heat connectivity in the early 2000s.
Lacking an integrated system of highway, road, and sea links, the local geography was disjointed.
Numerous regional low-cost airlines stepped up in this situation in an effort to meet the rising demand for affordable vacation.
Valuair was the first company to emerge in May 2004. By providing a light supper on board for all passengers and giving seats as opposed to the free-seating arrangements that budget airlines used in those days, it sought to revolutionize low-cost vacation.  ,
It was unlikely to be popular to take a quick trip from Singapore to Bangkok, but this did.  ,
Full-service carriers Singapore Airlines ( SIA ) and Cathay Pacific started lowering prices in the weeks leading up to this historic, low-cost flight, with SIA selling Bangkok tickets only marginally more expensively than Valuair.
At the start of the first flight, former ValuAir president Lim Chin Beng said,” I’m very surprised at the effect of the great boys.”
However, it was only a matter of time before Valuair was sucked in by rising gas prices, ongoing price war with full-service ships, and the emergence of two rivals the same year: Jetstar Asia and Tiger Airways.  ,
” When we planned this flight, it did not appear to be any other expenditure companies”, Mr Lim said in 2005. ” If there were only one or two, the full-service carriers would have been more tolerant” . ,
With the writing on the wall, Valuair was acquired by Jetstar Asia in July 2005,  , just over one time from its virgin journey.
Mr. Norazman, who joined the flight in October 2004 and was already on its second flight, recalls having to wear two distinct uniforms because he had been assigned to Valuair flights as well.
Along with older Eastern budget airlines for as , Malaysia’s AirAsia and Philippines ‘ Cebu Pacific, the company took off over the next few decades.
By 2009, low-cost carriers were accounting for 23 per cent of Changi Airport’s total passenger traffic, according to data from the Civil Aviation Authority of Singapore ( CAAS ).  ,
It did n’t take long for Changi to spring into action.
” Being Asia’s local hub for air travel, Changi Airport saw an opportunity to increase its capital links to provide this need by introducing low-cost ship activities in Singapore”, said Mr Lim Ching Kiat, Changi Airport Group’s professional vice-president for air hub and cargo growth.
In 2006, it built a no-frills, resources switch with no aerobridges and transport infrastructure, to support the growth of low-cost companies.  ,
The switch was shut down in 2012 to make room for the development of a bigger, full-service Terminal 4 despite growing over the years to accommodate more people.
Mr. Lim described the choice as “hard” and claimed it was based on customer feedback that even cheap companies could not provide the exact level of service from Changi Airport.  ,
COVID-19, which ravaged air go in the first 2020s, recently curbed rise over the following decade, but the sector has resurrected in force. Budget providers currently contribute to about one-third of Changi Airport’s customer customers.
The Monetary Authority of Singapore (MAS) announced the establishment of the Global Finance and Technology Network (GFTN) on October 30, an ambitious initiative designed to reinforce Singapore’s standing as a global fintech leader and boost the tech potential of the ‘global south’.
Headed by Ravi Menon, former managing director of MAS from 2011-2023, the GFTN aims to “enhance global connectivity for impactful innovation in financial services”.
Menon old a media briefing that networks such as the GFTN aimed to tap the potential of the “global south”.
Beyond Silicon Valley
He said it was important to broaden fintech innovations beyond traditional centres like Silicon Valley and London to emerging cities such as Nairobi, Jakarta, and São Paulo.
He said that by 2030, the Asia-Pacific region is predicted to become the world’s largest fintech market, with Africa and Latin America projected to grow by 30 per cent annually. Yet regions like Sub-Saharan Africa and the Middle East still faced substantial funding gaps, noted.
Through GFTN, Singapore would aim to address these inequalities by providing resources, infrastructure, and collaborative frameworks to foster sustainable growth, especially in underserved regions.
“Through our networks and partnerships, GFTN will aim to unlock sustainable and inclusive pathways that serve communities facing critical gaps,” Menon said.
He added that the world is “entering an era of growing digital connectivity across borders” starting with electronic payments and progressing toward universal trusted credentials and data exchanges.
Getting cross-border digital infrastructure right, he added, would be critical.
After years of experimentation, Menon stated, “the tokenisation of financial assets has reached a tipping point” with billions of dollars of financial assets now on-chain.
However, he noted that “the promise of a tokenised financial system has not materialised,” indicating it was still a work in progress.
Quantum leap
He observed that artificial intelligence is beginning to make significant inroads into financial services, bringing both AI-powered innovations and potential risks.
Menon pointed out that if quantum technologies develop, the coupling of AI and quantum technologies would “unlock new opportunities as well as unprecedented security challenges”.
Addressing climate change had also become a growing focus for the financial sector, he said, with increased interest in climate tech solutions for both carbon mitigation and climate resilience.
All these advancements, according to Menon, would demand “closer and more meaningful engagements between countries (and) between the public and private sectors” couple with coherent policies and regulations to “harness the benefits of these technologies while mitigating their downsides”.
GFTN initiatives
The GFTN will be launching four key initiatives as a part of its scope:
GFTN Forums will expand Elevandi’s five flagship events, including the Singapore Fintech Festival (SFF), to foster cross-border collaboration with experts worldwide. Elevandi – to be replaced by GFTN -is a not-for-profit entity set up by MAS to connect people and businesses, ideas and insights in the fintech sector in Singapore and globally.
GFTN Advisory will offer practitioner-led consultancy to help developing economies build digital infrastructure, form innovation-friendly policies, and support social-impact-driven private entities with market insights.
GFTN Platforms which will empower small enterprises and startups through digital services, improving market access, analytics, and sustainability reporting.
And lastly, GFTN Capital that will target early- and growth-stage startups in fintech and climate tech, providing patient capital and global partnerships to promote financial inclusion and environmental sustainability.
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Additionally, Mr. Gan was questioned about the impact of America’s vehement opposition to China on Singapore’s connection with superpowers and the Southeast Asian region as a whole.
Donald Trump, the country’s next president, took a more hawkish stance toward China during his first term in office on Wednesday ( Nov 8 ).
Mr Gan said it is in the fascination of Singapore, being an available and little business, to see a steady and calm relationship between the two nations.
” China has been our vital economic companion. So, we want to remain to be able to do business with China”, he noted.
” At the same time, we have even informed our British friends that we value America as a significant mate.” We told both factors that both of them are significant to us, and they are actually the biggest investors in Singapore.
” This is a pretty narrow road that we need to understand, but we also emphasise to them that our connection to them must be built on concepts, and the rules must be Singapore’s national attention.
” So no matter who we work with, whether it’s US or China, any other state, generally start from Singapore’s federal guidelines, usually work for Singapore”.
The banking sector, a fairly new room for Sea, is an interesting growth opportunity, said Mr Li,  , who is among Singapore’s richest men with a net worth of about US$ 6 billion.
The business, which is supported by Chinese Internet tycoon Tencent, began with e-wallet support businesses in Vietnam and Thailand in 2014, before branching out into consumer and small- and medium-sized enterprise ( SME) credit loans, tapping into the Shopee ecosystem.  ,
His company has been providing credit loans in markets like Indonesia because it is difficult for the less well-off to use when they need it the most, according to Mr. Li.  ,
He noted that there are few credit cards penetration and lending services in the country’s fourth-largest country, where people typically borrow from his firm for a few hundred dollars.  ,
” It’s a very, very small number, but this can make a big difference in their life. Payment services will help a lot of people to do things better, to enjoy their life much”, he said.  ,
On the other hand, he made note of the differences in the needs of people in Singapore, where Sea runs a online bank.
” We realise a lot of Singaporeans have the desire to invest, but ( they are ) really short of investment products, and they do n’t know what to do”, he said, adding that many of them are first-time investors who are digitally savvy.
His company launched an investment product that promotes itself as accessible to everyone, with a minimal investment value of just S$ 1 ( US$ 76 ). To fill this void, his company launched an investment product to address this gap.
In Dubai, it works with a regional partner that has experience with facilities and the , health government of Dubai and Abu Dhabi, the former being , the UAE’s capital and largest province.
” It’s great to have experienced colleagues in the region”, he said. There are a lot of confidence and personal relationships that matter, in Southeast Asia and the Middle East, in my opinion.
The Decision Labs was given the opportunity to apply for a position in a start-up program for biotechnology and life science called HealthX after giving a presentation at a meeting in Abu Dhabi in May. It was successful and established relationships with neighborhood hospitals.
” Saudi Arabia, the UAE, and Qatar are all experiencing significant growth and expenditure.” The entire electronic change, particularly in heath, is happening as we are speaking”, said Mr Anupam.
For example, he just understood that there were investors willing to finance it during a private conversation with an established at a UAE state institution.
” They are ready to ship the best skills, be it from Singapore, from the US, the UK, from the top colleges”, said Mr Anupam, who is an American citizen and in Dubai on a public manager card.
He is trained in statistical economy and has a master of business administration from , HEC Paris , and , MIT Sloan School of Management.
When The Decision Labs actually signs a project that, his staff, which consists of about 18 people, currently consists of about 18 in Bangalore, Malaysia, and the Philippines.
Given their reputations as aircraft hubs, economic centers, gateways to their particular regions, and their desire to be it and start-up hubs, some observers have compared Singapore and Dubai to being competitors.
But people beg to differ.
” They are so geographically far away that I do n’t think they should be competitors”, said Mr Skoumal of the two cities, which are a seven-and-a-half-hour flight apart.
” They do n’t fight for the same customers. They do n’t fight for the same companies. They have their own industry”, said Mr Skoumal.
” I feel like they can learn from each other, and I guess they are doing it”, he said, citing both places ‘ attempts to digitalise state systems.
The chief executive of Tata Steel told Reuters on Thursday ( Nov. 7 ) that India’s steel imports from China were “unfairly priced” and that prolonged shipments could hinder domestic steel industry investment plans. ” It’s not that Chinese material is more dynamic… they really are able to keep sellingContinue Reading
A global event highlights the progress being made with the development of space and satellite system
PUBLISHED: 7 Nov 2024 at 20: 45
At the beginning of Thailand Space Week 2024 on Thursday, the Thai government’s commitment to encourage investment in satellite growth and storage equipment was emphasized.
The event, touted as Southeast Asia’s largest global event for storage systems, is taking place at Impact Muang Thong Thani until Saturday.
Prasert Jantararuangtong, the secretary of Digital Economy and Society, highlighted the government’s ambition to make Thailand Space Week 2024 a world-class meeting, advancing place engineering, business and local development.
” This event marks a key step in Thailand’s push to integrate storage technologies into our economic and societal advancement”, he said in a presentation address.
We are preparing Thailand to lead the new S-Curve market by integrating area technology into vital sectors.
He underscored the show’s role in promoting private-sector implementation of storage solutions.
With its plan on educational programs and hands-on actions designed to prepare future generations for careers in place and technology, he said children relationship is also a federal goal.
Thailand Space Week 2024 is organised by the Geo-Informatics and Space Technology Development Agency ( Gistda ) under the Ministry of Higher Education, Science, Research and Innovation, in partnership with over 70 organisations, including the Cabinet Office of Japan, Ispace, the Electricity Generating Authority of Thailand, PTT, Siemens, Thaicom, among others.
Pakorn Apaphant, the Gistda executive producer, said that Thailand Space Week, now in its fourth year, aligns with the agency’s perspective to develop the government’s science and innovation scenery.
He said the occasion is expected to bring over 3, 000 participants from 34 locations, with over 100 show booths. This year’s theme is” Converging Technologies, Connecting People”.
By showcasing the latest in space innovation, the event serves as a vital platform for networking and knowledge exchange among global leaders, including representatives of CNSA ( China ), Kari ( South Korea ), Ostin ( Singapore ), Mysa ( Malaysia ), QZSS ( Japan ) and Philsa ( Philippines ), he said.
Thailand’s Space Week 2024 continues through Saturday, inviting both domestic and foreign participants to investigate partnerships, build networks, and uncover the region’s financial potential.
SINGAPORE: Singapore’s biggest bank DBS Group posted on Thursday ( Nov 7 ) a record net profit in the third quarter, but forecast 2025 net profit to be below 2024 levels because the country is introducing a global minimum corporate tax rate. DBS, the first Singapore lender to report third-quarterContinue Reading