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ACN Newswire

Opal and Funding Societies Partner to Strengthen SME Cash Flow

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SINGAPORE, July 13, 2021 – (ACN Newswire) – Opal, a Major Payment Institution (MPI) licensed by the Monetary Authority of Singapore (MAS), and Funding Societies, Southeast Asia’s largest SME digital financing platform, have initiated a partnership to offer a range of financing solutions to Opal’s ecosystem of clients and partners. This partnership aims to provide Opal’s clients and partners access to financing so as to address short-term cash flow needs and capitalise on growth opportunities.

Lim Ming Wang, Co-founder, Opal
Shrawan Saraogi, Head of Partnerships and Products, Funding Societies

Under this partnership, Opal will offer Funding Societies’ range of financing solutions to small and medium enterprises (SMEs) who will be able to access multiple financing solutions at a relatively lower rate and a quicker processing time. Further, to reduce the financial burden on SMEs, Opal and Funding Societies will reduce processing fees on all disbursals up to 50% of the loan amount and offer a full waiver of the facility fee on all line products.

Lim Ming Wang, Co-founder of Opal said, “Based on MAS’ growth forecast for 2021, Singapore’s economic growth will be robust but uneven. As a company that is focused on SMEs in Singapore, we want to be able to assist businesses at their time of growth who are looking for solutions to strengthen their cash flow. We are excited about this partnership as businesses can now have access to multi-currency management, payments, and financing solutions from a single platform on Opal. As our technology is driven by the interconnectivity of these different financial-business solutions, companies will get ever better rates and faster turnaround times.”

Shrawan Saraogi, Head of Partnerships and Products at Funding Societies said, “As a FinTech founded with the mission to uplift economies, we believe in helping SMEs obtain access to financing solutions that are easy and fair. We want to help them by providing the impetus for growth. I believe this partnership is ideal, as we would be able to support Opal’s ecosystem of clients and partners with our wide range of growth financing solutions.”

Aside from offering financing solutions via Funding Societies, Opal also provides cross-border money transfer and multi-currency accounts to SMEs in Singapore. Opal aims to make business financing more accessible and transparent to its customers.

About Opal

Opal is a leading provider of end-to-end, regulated payment and financial solutions based on a robust, proven platform and proprietary technology. Founded by a team of professionals seasoned in financial solutions, banking, compliance, cross-border payments and money management, Opal offers a broad set of financial solutions to help clients meet their diverse needs in today’s ever-changing financial and business environment. OPAL is licensed as a Major Payment Institution (MPI) by the Monetary Authority of Singapore. For more information, please visit www.opalpayment.com

About Funding Societies

Funding Societies | Modalku is the largest SME digital financing platform in Southeast Asia. It is regulated in Singapore, Indonesia, Thailand, and registered in Malaysia. It is backed by Sequoia India and Softbank Ventures Asia Corp amongst many others and provides business financing to small and medium-sized enterprises (SMEs), which is crowdfunded by individual and institutional investors. In 6 years, it has helped finance over 4 million business loans with over S$2 billion in funding. It was given the MAS FinTech Award in 2016, the Global SME Excellence Award at the United Nations’ ITU Telecom World in 2017, KPMG Fintech100 in 2018, Brands for Good in 2019, and in 2020 recognised by IDC as amongst the 5 fastest growing FinTechs in Singapore, won the Stevie(R) Award for Innovation in Technology, and named ASEAN Startup of the Year by Global Startup Awards. https://fundingsocieties.com/


Topic: Press release summary
Source: OPAL / Funding Societies

Sectors: Daily Finance, Local Biz
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ACN Newswire

Hong Kong Trade Development Council Chairman Dr Peter KN Lam confident in Hong Kong’s business environment

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HONG KONG, July 20, 2021 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) noticed recent discussions on Hong Kong’s business environment. Dr Peter KN Lam, Chairman of the HKTDC, said that most companies operating in Hong Kong remain confident in the city’s business landscape.

Dr. Lam said, “Based on my interaction with Hong Kong’s international business community, they are excited about the vast opportunities arising from the Guangdong-Hong Kong-Macao Greater Bay Area development, and see Hong Kong as the ideal entry point.”

“As a global business hub, Hong Kong’s fundamental strengths remain robust. The city continues to be a place which is easy to do business, has a rich pool of international talent, and enjoys economic freedom, a low level of corruption and free flow of capital, goods, people and information. I believe global investors and the business community are confident in Hong Kong’s continued role as a two-way investment and business platform,” Dr. Lam added.

Given Asia’s strong growth potential as well as opportunities arising from the Mainland’s 14th Five-Year Plan, dual circulation policy and development of the Greater Bay Area, the HKTDC has planned a series of activities focusing on Hong Kong’s strengths in areas such as medical and healthcare, technology, finance, logistics, legal as well as intellectual property, to support local and international companies to capture these opportunities.

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media Contact:
HKTDC’s Communications and Public Affairs Department
Susanna Sin, Tel: +852 2584 4294, email: [email protected]


Topic: Press release summary
Source: HKTDC

Sectors: Daily Finance, Daily News, Local Biz
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ACN Newswire

Dook Media, a Full Copyright Operator, invested by Legend Capital Successfully Listed on the China GEM

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HONG KONG, July 19, 2021 – (ACN Newswire) – On July 19th, Dook Media Group Limited (stock code: 301025), invested by Legend Capital, was successfully listed on the Growth Enterprise Market in China. With public offering of 40.01 million shares, the stock closed at RMB31.66 per share, up 1942% from its initial price. Its total market value reached over RMB12.6 billion.

When Dook Media was established in 2009, a “full copyright” operator that takes “inspiring personal growth” as its purpose was born. The company’s core businesses are book planning and distribution as well as related cultural value-added service. With the vision of “cultivate local writers and promote traditional culture under national policies”, Dook Media is committed to become a leading creative cultural enterprise with unique creative methods and talent training systems by providing the public with high-quality books that span the fields of literature, arts, social sciences, and children’s book in multiple media formats.

Dook Media has become an enterprise with strong brand influence in the book industry due to the accumulated rich experience in books topic planning and editing, copyright operations, marketing, etc., The company gives priority to content quality, the books’ varieties exceed the industry average by more than 10 times. The main representatives included: Half Hour Comic, The Tibet Code, Galactic Empire, The Storied Life Of A.J. Fikry, The Godfather and etc.

Dook Media also signed a number of well-known e-book copyrights, such as The Three-Body Problem, Naruto and more. The Storied Life Of A.J. Fikry, Everything I Never Told You, Love O2O and other e-books have won best-selling e-book awards on Dangdang and Amazon. In recent years, the company has actively developed the audiobook market in Himalaya, Lazy audio, Qingting FM and WeRead. Some audiobooks have continuously ranked among the top ten bestsellers on Himalaya FM.

Legend Capital was the lead investor in the A round financing of Dook Media in June 2017, and made follow-on investment in November of the same year. Legend Capital has accompanied Dook Media as a partner after its investment, providing in-depth and comprehensive value-added services in terms of industry resources, talent introduction, business improvement, strategic planning, and capitalization.

Jenking Shao, Managing Director of Legend Capital, said, “As the IP-based pan-entertainment industry has developed rapidly, the value of high-quality Intellectual Property (IP) has become more prominent. Dook Media is in the upstream position of the content industry, it belongs to Legend Capital’s important coverage in this industry and also, it has strong copyright operations capabilities across all channels in the industry, tapping and fully unlocking the value of IP, realizing the diversified monetization of copyright assets. After the listing, Dook Media will gradually enrich their copyright library in the future, while applying existing methodologies to empower more high-quality reserved copyrights and develop an IP incubation platform.”

Legend Capital has always paid attention to the development of the content industry chain, especially the scarce resources of the leading IP. At present, the literary reading market is still one of the important sources of IP incubation. In the field of content, Legend Capital has invested in representative companies such as Bilibili (NASDAQ:BILI), Taihe Music Group, Modern Sky, Wajijiwa, HYBE (KOSE: A352820), Bruco, Qianxun, etc.


Topic: Press release summary
Source: Legend Capital

Sectors: Daily Finance, Funds & Equities, Venture Capital
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Tiger Brokers Singapore to Offer Singapore’s First Dividend-Paying China-Focused ETF through Lion Global Investors

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SINGAPORE, July 16, 2021 – (ACN Newswire) – Xiaomi-backed online brokerage Tiger Brokers Singapore (Tiger Brokers) today announced that they had been invited by Lion Global Investors, one of the largest asset managers in Southeast Asia, to be among the Authorised Participating Dealers (PDs) for the Lion-OCBC Securities China Leaders ETF, listed on Singapore Exchange Securities Trading Limited (SGX-ST). Investors on Tiger Brokers’ platform, Tiger Trade, will be able to access Singapore’s first China-focused dividend-paying ETF. This ETF allows investors to partake in China’s growth story as well as diversify their investment portfolio by including Chinese stocks in an easy and affordable way.

Tiger Brokers’ investors will be able to subscribe for units in the Lion-OCBC Securities China Leaders ETF via the trading platform between 15 to 27 July 2021, 12 noon before the listing date.

Eng Thiam Choon, CEO of Tiger Brokers (Singapore), shared, “Tiger Brokers (Singapore) is always looking for ways to help our investors diversify their portfolio. We are honoured to be one of the first online brokerages to be appointed as the authorised participating dealer among other well-established brokerages to offer the Lion-OCBC Securities China Leaders ETF.”

The Lion-OCBC Securities China Leaders ETF aims to replicate as closely as possible, before expenses, the performance of the Hang Seng Stock Connect China 80 Index using a direct investment policy of investing in all, or substantially all, of the underlying Index Securities. The Index measures the overall performance of 80 of the largest Chinese companies such as Ping An, Xiaomi and Tencent, in terms of market capitalisation listed in Hong Kong and/or mainland China that are eligible for Northbound or Southbound trading under the Stock Connect schemes.

Kwok Keng Han, Chief Marketing Officer of Lion Global Investors, shared, “At Lion Global Investors, we believe that quality investment solutions should be accessible and cost-effective to investors. We are excited about walking this new journey with Tiger Brokers Singapore. Through the Tiger Trade platform, investors will be able to tap into exciting growth opportunities like investing into the Lion-OCBC Securities China Leaders ETF.”

Other than the newly added ETF, Tiger Brokers’ investors have access to other trading opportunities such as Equities, different types of Exchange-Traded Funds (ETFs), Futures, Stock Options, Warrants, Callable Bull/Bear Contracts (CBBCs), Daily Leveraged Certificates (DLCs), US-listed over the counter (OTC) equities and Fund Mall. Tiger Trade currently offers trading on six different exchanges – New York Stock Exchange (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, the Hong Kong Stock Exchange (HKEX), the Singapore Exchange (SGX) and the Australian Securities Exchange (ASX).

Additionally, just last month, Tiger Brokers Singapore received the Best Sub-custodian Mandate, Broker-dealer (Singapore) presented by The Asset Triple A Sustainable Investing Awards 2021 for Institutional Investor, ETF and Asset Servicing Providers. The online trading platform also received approval-in-principle to be admitted as a Clearing Member of The Central Depository (Pte) Limited (CDP) and approval-in-principle from Singapore Exchange Securities Trading Limited (SGX-ST) as well as Singapore Exchange Derivatives Trading Limited (SGX-DT) for admission as a Trading Member.

The Tiger Trade mobile application is available for download on Apple App and Google Play stores.
– Apple App store: https://apps.apple.com/sg/app/id1023600494
– Google Play store: https://play.google.com/store/apps/details?id=com.tigerbrokers.stock

About Tiger Brokers (Singapore) Pte Ltd.

Tiger Brokers Singapore Pte Ltd (Tiger Brokers Singapore) is a brokerage firm operating with a Capital Markets Services (CMS) Licence from the Monetary Authority of Singapore (MAS). Its trading platform, Tiger Trade, offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates. The company launched the mobile version of Tiger Trade in February 2020 – accessible on Google Play Store and the Apple App Store – offering mobile-savvy generation of retail investors similar trading opportunities as their online users, such as Equities, Exchange-Traded Funds (ETFs), Futures, Stock Options, Warrants, Callable Bull/Bear Contracts (CBBCs), Daily Leveraged Certificates (DLCs), US-listed over the counter (OTC) equities and Fund Mall on their mobile phones. Both online and mobile app allow users to invest across multiple asset classes traded on the US, China, Hong Kong, Singapore and Australian stock markets such as the New York Stock Exchange (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, the Hong Kong Stock Exchange (HKEX), the Singapore Exchange (SGX) and the Australian Securities Exchange (ASX).

Tiger Brokers Singapore is the Singapore entity of UP Fintech Holding Limited, known as “Tiger Brokers” in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in the U.S. equity trading by volume among trading platforms catered to Global Chinese investors in less than two years. Tiger Brokers was awarded “2017 Fintech 250” by CB Insights and shortlisted for “China Leading Fintech 50” for two years in a row by KPMG China. The company was listed on NASDAQ under “TIGR” in 2019 and has offices in China, United States, Australia, New Zealand and Singapore. Tiger Brokers has over 1.4 million customers worldwide currently, with a total trading volume exceeding USD123.8 billion in Q1 2021. The company is backed by well-known investors such as Xiaomi, as well as investment guru Jim Rogers. For more information, please visit https://www.tigerbrokers.com.sg

About Lion Global Investors

Lion Global Investors Limited (Co. Reg No: 198601745D), a wholly-owned subsidiary of OCBC Bank, is one of the leading asset management companies in Southeast Asia. Established since 1986, the asset management firm is uniquely positioned to provide Asian equities and fixed income strategies and funds to both institutional and retail investors. For more information, please visit www.lionglobalinvestors.com

For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
Email: [email protected]

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Any views shared with Prospective Clients (“Prospects”) are suggestive in nature and on a sample basis only. This may also be predicated on assumptions that are made by Tiger Brokers (Singapore) Pte Ltd about the Prospects’ investment objectives and risk profile. Our suggestive and sample views extended to Prospects are not to be considered as recommendations made by the Company. Suggestions provided are also based on information that may be shared by the Prospects, the accuracy and comprehensiveness of which Tiger Brokers in not in a position to verify.

Tiger Brokers (Singapore) Pte Ltd (herein “Tiger Brokers”) may, to the extent permitted by law, participate or invest in other transactions with the issuer of the products referred to herein, perform services or solicit business from such issuers, and/or have a position or effect transactions in the securities or options thereof. The information herein is for the recipient’s information only and not an offer to sell or a solicitation to buy. Any date or price information is indicative only and may be changed without prior notice. All opinions expressed and facts referred to herein are subject to change without notice. The information herein was obtained and derived from sources that we believe are reliable, but while reasonable care has been taken to ensure that stated facts are accurate and opinions are fair and reasonable, Tiger Brokers does not represent that it is accurate or complete and it should not be relied upon as such. The information expressed herein is current and does not constitute an offer, recommendation or solicitation, nor does it constitute any prediction of likely future stock performance. Investment involves risk. The price of investment instruments can and do fluctuate, and any individual instrument may experience upward or downward movements, and under certain circumstances may even become valueless. Past performance is not a guarantee of future results. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any person or affiliated companies. Before making an investment decision, you should speak to a financial adviser to consider whether this information is appropriate to your needs, objectives and circumstances. Tiger Brokers assumes no fiduciary responsibility or liability for any consequences financial or otherwise arising from trading in securities if opinions and information in this document may be relied upon.

This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. It is for information only, and is not a recommendation, offer or solicitation to deal in any capital markets products or investments and does not have regard to your specific investment objectives, financial situation or particular needs. You should read the prospectus and Product Highlights Sheet for the Lion-OCBC Securities China Leaders ETF (“ETF”), which is available and may be obtained from Lion Global Investors Limited or any of the appointed Participating Dealers (“PDs”), before deciding whether to purchase units in the ETF. Investments are subject to investment risks including the possible loss of the principal amount invested.

The performance of the ETF, the value of its units and any accruing income are not guaranteed and may rise or fall. Past performance, payout yields and payments and any prediction, projection, or forecast are not indicative of the future performance, payout yields and payments of the ETF. You should independently assess any information, opinion or estimates, graphs, charts, formulae or devices provided and seek professional advice on them. Any information, opinions, estimates, graphs, charts, formulae or devices provided are subject to change without notice and are not to be relied on as advice. The ETF may invest in financial derivative instruments for hedging or for efficient portfolio management.

The units of the ETF are listed and traded on the Singapore Exchange (“SGX”), and may be traded at prices different from its net asset value, suspended from trading, or delisted. Such listing does not guarantee a liquid market for the units. You cannot purchase or redeem units in the ETF directly with the manager of the ETF, but you may, subject to specific conditions, do so on the SGX or through the PDs.

Any dividend distributions, which may be either out of income and/or capital, are not guaranteed and subject to the Manager’s discretion. Any such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value of the ETF.

(c) Lion Global Investors Limited (UEN/ Registration No. 198601745D). All rights reserved. LGI is a Singapore incorporated company and is not related to any corporation or trading entity that is domiciled in Europe or the United States (other than entities owned by its holding companies).


Topic: Press release summary
Source: Tiger Brokers (Singapore) Pte Ltd

Sectors: Exchanges & Software, Daily Finance, Funds & Equities, FinTech & Blockchain


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ACN Newswire

Black Spade Acquisition Co Announces Pricing of $150 Million Initial Public Offering

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HONG KONG, July 16, 2021 – (ACN Newswire) – Black Spade Acquisition Co (the “Company”) today announced the pricing of its initial public offering of 15,000,000 units at a price of $10.00 per unit. The units are expected to be listed for trading on the New York Stock Exchange (the “NYSE”) under the ticker symbol “BSAQU” beginning July 16, 2021. Each unit consists of one of the Company’s Class A ordinary shares and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A ordinary shares and warrants will be listed on the NYSE under the symbols “BSAQ” and “BSAQWS,” respectively.

The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or assets. Although the Company may pursue an initial business combination opportunity in any industry or any region, it is focused on identifying a business combination target that can benefit from the extensive collective network, knowledge and experience of the Company’s founder and management team that is related to or in the entertainment industry, with a focus on enabling technology, lifestyle brands, products, or services and entertainment media. While the Company intends to pursue opportunities globally, it will focus on opportunities with existing or future growth potential underpinned by the transformative consumption forces in Asia, an area in which its founder and management team can contribute significantly with their extensive network, knowledge and experience.

Citigroup Global Markets Inc. is acting as the sole bookrunner for this offering. JonesTrading Institutional Services LLC and Loop Capital Markets LLC are acting as co-managers for this offering. The Company has granted the underwriters a 45-day option to purchase up to 2,250,000 additional units at the initial public offering price to cover over-allotments, if any.

The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at 1-800-831-9146 or via email [email protected].

A registration statement relating to the securities became effective on July 15, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is expected to close on July 20, 2021, subject to customary closing conditions.

Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the Company’s plans with respect to the target industry for a potential business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:
Black Spade Acquisition Co
Lea Sze Tel: +852 3955 1316 Email: [email protected]
Suite 2902, 29/F, The Centrium, 60 Wyndham Street, Central, Hong Kong

Media Enquiries:
Strategic Financial Relations Limited
Vicky Lee Tel: +852 2864 4834 Email: [email protected]
Angela Wong Tel: +852 2114 4953 Email: [email protected]
Christina Cheuk Tel: +852 2114 4979 Email: [email protected]
Website: http://www.sprg.com.hk/


Topic: Press release summary
Source: Black Spade Capital Limited

Sectors: Daily Finance
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