Malaysia invites proposals for revival of Kuala Lumpur-Singapore High-Speed Rail project

Malaysia has called for concept proposals to revive the Kuala Lumpur-Singapore High-Speed Rail project. The Request for Information exercise, initiated by MyHSR Corp, allows local and international firms to submit proposals through a public-private partnership. Malaysian Transport Minister has confirmed strong interest from several companies.

Ringgit hits record low against Singapore dollar, dropped to a seven-year low against the British pound

The ringgit hit a historic low versus the Singapore dollar on Wednesday (12 Jul), falling to 3.4783. It surpassed the previous record of 3.4717 on 22 June. Meanwhile, the ringgit gained against the US dollar the US dollar on Wednesday morning, trading at around 4.6470.

Temasek’s CIO Rohit Sipahimalani pauses investments in crypto in contrast to Ho Ching’s contrarian stance amid FTX loss

Temasek’s CIO, Rohit Sipahimalani, signals hesitation towards crypto investments due to regulatory uncertainty. Despite losing their FTX investment, of US$275million, Mdm Ho Ching, former Temasek CEO, had previously asserted long-term resilience in its investment strategy.

Temasek shifts stance on crypto investment following US$275 million FTX loss

Temasek Holdings, Singapore’s sovereign wealth fund, is currently avoiding investments in cryptocurrency firms due to regulatory uncertainties. The company’s Chief Investment Officer, Rohit Sipahimalani, expressed reservations about investing in exchanges amidst recent FTX incident and the prevailing regulatory landscape.

Temasek Holdings reports S$7.3 billion loss, pledges continued investment amid global uncertainties

Singapore’s Temasek Holdings sees a 5.2% decrease in its net portfolio value to S$382 billion in FY2023, attributing a loss of S$7.3 billion to changes in accounting standards. The firm emphasizes its commitment to strategic investment amidst global uncertainties.

Singapore falls behind Hong Kong in stock market listings

Singapore’s Exchange (SGX) is experiencing a decline in popularity as a destination for IPOs, with only three listings in H1 2023. This contrasts starkly with buoyant IPO activity in Hong Kong and ASEAN countries, with market confidence impacted by recent corporate governance failures in Singapore.

Meta launches Twitter rival Threads — but not in Europe

Meta launches Threads, a text-based Twitter rival, with over five million sign-ups within hours, however, the European release is delayed due to data privacy concerns.

DHL Express partners with Linklaters to minimize carbon footprint through GoGreen Plus service

DHL Express has partnered with global law firm Linklaters to reduce carbon emissions using its GoGreen Plus service. The initiative uses sustainable aviation fuel (SAF) for time-definite international shipments.

Tessa Therapeutics’ closure due to increasing interest rate and unsustainable revenue

Tessa Therapeutics’ liquidation results from a tighter monetary policy and a surge in global interest rates, according to investor Ian Yoong Kah Yin. The closure of the Temasek-backed company leaves a significant impact on Singapore’s biotech industry.

Business confidence among Japan’s big manufacturers improves

Japanese business confidence improves for the first time in seven quarters, driven by recovery in the auto sector and service industry.