In addition to Bank Negara Malaysia, we also have updates from Singapore Tourism Board, Slack, and SoftBank Vision Fund
Bank Negara Malaysia to regulate insurance comparison sites – Fintech News Malaysia
Bank Negara Malaysia is set to regulate insurance and takaful aggregation business as a new category of registered business under the Financial Services Act 2013 (FSA), Fintech News Malaysia reported.
Citing a press statement by the central bank, the report stated that once the new regulation comes into effect, insurance and takaful aggregators will be required to register under the FSA to continue their businesses, including those under the fintech regulatory sandbox.
Currently, Jinerxu and GoBear are listed under insurance aggregation category in the central bank’s sandbox.
Bank Negara Malaysia is currently seeking its exposure draft.
Singapore Tourism Board launches accelerator programme – Press Release
The Singapore Tourism Board (STB) is calling for local and international companies to join its pilot programme Singapore Tourism Accelerator.
Set to run for two years, the programme aims to “develop solutions to long-standing issues, as well as developing new ideas that will transform the tourism sector.”
It targets startups that are already at the prototyping or business development stage as well as those that have piloted a breakthrough solution in another city and are looking for opportunities to scale their
solutions in the Singapore and Asian markets.
To select the startups, STB will work with the accelerator’s appointed partner Found8.
The accelerator programme was first announced during 2019 Tourism Industry Conference as the Singapore Tourism Incubator.
Also Read: MOLCube mobile payment startup gets nod from Malaysia’s Bank Negara
Slack debuts on NYSE at US$38.50 per share – TechCrunch
Workplace communication platform Slack debuted on the New York Stock Exchange (NYSE) up 48 per cent at US$38.50 per share following reports on Wednesday night (local time) that it has agreed to a reference price of US$26 per share, TechCrunch reported.
It closed up 48.5 per cent on Thursday (local time) at US$38.62 per share, with the stock climbed as high as US$42 in intraday trading.
The report also stated that Slack’s market cap now sits well above US$20 billion, or nearly three times its most recent private valuation of US$7 billion.
The company became the second large venture capital-backed business to complete a direct listing.
SoftBank Vision Fund in talks to invest up to US$350M in India’s CureFit – The Economic Times
SoftBank Vision Fund is reported to be in talks to invest up to US$350 million in India-based healthcare startup CureFit, which could push its valuation to above US$1 billion, according to The Economic Times.
Citing three sources that are familiar with the matter, the report stated that the development is still in its early stages. The parties that are involved have not yet agreed on the total size of the funding.
One source said that the plan for this funding round is to take CureFit global.
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