Legal Briefing: Hong Kong Business (Q2 Issue)
Startup funding goes low key amidst COVID-19 and social unrest
The total value of startup deals hit $9.84b, a 39% YoY drop compared to last year.
Venture capital (VC) firms are starting to hold back on injecting funds into startups as economic uncertainties continues to threaten Hong Kong’s financial stability. But despite this, it is business-as-usual for some startups and VCs.
In this issue of Hong Kong Business’ Hottest Startups, we identified the 17 biggest disclosed and early-stage funding rounds between Q2 2019 and end-Q1 2020, by startups that are
VCs bet big on ESG startups
Investments in the urban solutions and sustainability domain surged 56% over last year.
In the ninth edition of Singapore Business Review’s 20 Hottest Startups, it was the small and medium enterprise (SME)-focused neobank Aspire that clinched the top spot, with $46.38m (US$32.5m) in funding from a series A round. Following closely is invisible braces manufacturer Zenyum, having secured $19.42m (US$13.6m) in a series A funding. Closing the top three is proptech startup Smarten Spaces, with its $
Credit card revenues threatened as Singaporean travellers shun usage
Card users turn to cash as they steer clear of lofty transaction fees and poor exchange rates.
Banks may have to rethink their reliance on credit card fees as a driver of revenues as technology savvy travellers are resorting to cash or alternate payment apps to avoid being slugged with high foreign transaction fees and usurious exchange rates.
In a report that should disturb all banks relying on overseas charges as a growing source of revenue, Transferwise said that using a credit card to pay
Singapore to lift local labour via S-Pass-DRC reduction
DRC has been lowered to 15% for the construction, marine shipyard, and process sectors.
Singapore continues to lessen its dependence on foreign workers, as a further reduction of the S-Pass-sub-dependency ratio ceiling has been announced for a number of sectors in the Singapore Budget 2020.
Finance Minister Heng Swee Keat said that it will lower its S-Pass sub-DRCs for the construction, marine shipyard, and process sectors from 20% to now 15%. DRC for the services sector meanwhile, will be red
Singapore to invest $800m in fight against COVID-19
A bulk of this allocation will go to the country’s health ministry.
Singapore has set aside an $800m budget to fight the impact of COVID-19 on the country, a bulk of which will be allotted to the Ministry of Health, finance minister Heng Swee Keat said in his budget speech.
The subsidies for the 2012-launched Community Health Assistance Scheme (CHAS) have also been extended to cover Singaporeans’ chronic conditions regardless of income.
These follows the other healthcare investments into heal
Tencent's Medipedia draws tech-challenged seniors via rich storytelling
Medical content can be viewed in the form of articles, animation, and videos.
Since the launch of Medipedia in 2017, the extensive medical knowledge platform developed by China’s internet giant Tencent Holdings, it has attracted elderly users, with a staggering 70 million count.
Such audience base reflects the present healthcare landscape of China where the country is seeing a rise in the ageing population. The number one sighted problem of China’s healthcare system is the transition to an age
