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Orient Wealth Advisors has strengthened its executive board by appointing Jenny Su as president of Asia. With over 34 years of experience, Su previously led UBS Global Wealth Management’s ultra-high net worth segment and held significant roles at UBS and Merrill Lynch Bank of America.
Seviora Group, a Singapore-based asset management firm owned by Temasek, has launched its Middle East office in Abu Dhabi Global Market, managing US$54 billion in assets. The new hub aims to enhance its presence in Asia and beyond, led by Sadiq Hussain, who will focus on regional investor engagement. CEO Jimmy Phoon emphasized the strategic importance of this expansion for fostering partnerships with local investors.
Apple enhances AirPods Max with lossless audio and AI leadership changes, while Tesla faces regulatory hurdles in China and legal issues in the US. Ford is under investigation for gear shifts in F-150 trucks, and Bank of America appoints a new head for India. In Europe, SAP surpasses Novo Nordisk in market value, and Bayer's stock drops after a significant jury verdict. BYD reports a substantial profit increase, and Toyota delays its battery factory project while starting a recycling facility.
HSBC Holdings plc has issued SG$800 million in perpetual subordinated contingent convertible securities. The banking group generates revenues primarily from retail banking and wealth management (42.3%), commercial banking (31.8%), and investment banking (25.9%). As of the end of 2024, HSBC reported USD 1,654.9 billion in current deposits and USD 930.6 billion in current credits.
Jollibee Foods Corporation is expanding its coffee and tea business, which includes brands like Compose Coffee and Coffee Bean & Tea Leaf, to strengthen its position in the competitive F&B market in the Philippines. This move may lead to a clash with VC-backed startups like Pickup Coffee and Zus Coffee, which are targeting younger consumers.In other news, Swiggy has launched a new B2B platform, Assure, to provide locally sourced fresh ingredients, while the IndiaAI Mission and the Gates Foundation are collaborating to enhance AI solutions across various sectors.
Fore Coffee has filed for an IPO amid a temporary trading halt on the local exchange due to a market dip. The company plans to use the funds for expansion, targeting 60 new stores this year, including a second location in Singapore.In other news, Grab is expanding its grocery segment in Malaysia, which has outpaced its food delivery growth for two consecutive quarters. The company is acquiring Everrise to enhance its presence in the grocery market, despite challenges in profit margins.
American Express and Singapore Airlines are enhancing the American Express Singapore Airlines Business Credit Card with new benefits for SMEs, effective 23 April 2025. Key updates include an increased conversion limit for HighFlyer points to KrisFlyer miles, a welcome bonus of 10,000 HighFlyer points, and the ability to attain KrisFlyer Elite Gold status at a reduced points requirement. The annual fee will be S$400, and the card continues to offer existing perks like 0% interest on instalments for flights and Accor Plus membership.
American Express and Singapore Airlines have enhanced the American Express Singapore Airlines Business Credit Card, offering new benefits tailored for Small and Medium Enterprises (SMEs). Key improvements include a higher limit for converting HighFlyer points to KrisFlyer miles and discounted redemption for KrisFlyer Elite Gold status.
Indonesia's startup funding plummeted by 66% in 2024, the largest decline among six Southeast Asian nations, with total investments dropping to US$437.8 million and the number of deals falling by 34% to 85. The country's share of regional funding decreased to 9.6%, and for the first time in six years, no new unicorns were created.
In the latest episode of the 60/40 Podcast, co-hosts explore the turmoil surrounding Chocolate Finance, a Singaporean robo-advisory platform, highlighting its product offerings and the fallout from marketing missteps that eroded customer trust. The discussion also delves into the fintech industry's dynamics, the influence of social media on consumer behavior, and the regulatory environment. Additionally, the podcast examines China's tech landscape, featuring the emergence of the Seven Titans and Manus AI, alongside Malaysia's aspirations in AI and semiconductor sectors.
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orient wealth advisors enhances leadership with new appointments in asia
03:25 25.03.2025
temasek's seviora group establishes middle east hub in abu dhabi
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16:15 24.03.2025
hsbc issues 800 million dollar perpetual subordinated contingent convertible securities
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jollibee expands coffee business amid competition from emerging startups
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10:30 24.03.2025
fore coffee plans ipo amid market volatility and expansion efforts
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08:00 24.03.2025
American Express and Singapore Airlines launch enhanced business card for SMEs
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American Express and Singapore Airlines launch enhanced benefits for SMEs
07:09 24.03.2025
indonesia startup funding drops 66 percent in 2024 amid regional decline
05:45 24.03.2025
chocolate finance fallout and the rise of ai in asia
03:28 24.03.2025
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