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IN THE NEWS

Local crowdfunding platform to tap 'mass affluent' with easing of MAS rules

LOCAL crowdfunding platform FundedHere, which has been offering crowdfunded equity and loans to wealthy "accredited investors" in Singapore, wants to open up its platform to professionals earning at least S$100,000 a year, partner Daniel Lin said on Tuesday. It is also eyeing acquisitions of crowdfunding platforms in Malaysia and Indonesia to grow its footprint across the region, he said, adding...


UOB to expand board from 9 to 12 members

UNITED Overseas Bank (UOB) will enlarge its board from the current nine members to 12 members to help deal with the increasing complexity of managing a bank. UOB chairman Hsieh Fu Hua said the bank has decided to expand the size of the board up to 12 directors and is in the process of recruiting new directors. The disclosure was made in the bank's 2016 annual report released on Tuesday evening. T...


Looks like cash is here to stay

SINGAPORE is at the forefront of the global effort to move towards being cashless. The government's stated strategy is to maximise the use of digital-payment systems and move away from cash to reduce costs. Yet the use of cash remains popular in the city-state. Cash in circulation in Singapore is 8.8 per cent of the gross domestic product (GDP), compared with 4.4 per cent in Australia and 2.12 per...


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