Temasek Holdings, others confirm salary freeze amidst COVID-19
Singapore’s Temasek Holdings is among the companies that have confirmed a company-wide wage freeze and voluntary pay reductions for senior management for up to a year amid the coronavirus outbreak, according to Vulcan Post.
This will come into action in April when the company will halt all raises and salary increases linked to promotions. With the amount saved, Temasek will donate to staff volunteer initiatives and support the community through unspecified measures.
The entity has a portfolio of a broad spectrum of startups which include Indian ride-sharing company Ola, coworking space giant WeWork, and Virtu Financial, Inc. amongst many others.
Singaporean deep tech startup Dathena names new CTO
Data security and privacy startup Dathena named veteran software engineer Lylian Kieffer as its new CTO, according to a press statement.
Kieffer was Executive VP for Engineering and Operations at App Annie; he brings in over 15 years of experience in building and operating large scale SaaS and data platforms.
“Leading large global engineering teams and managing large-scale analytics platforms, I’ve seen first-hand how challenging it can be to keep data safe while satisfying all the relevant regulatory constraints. Dathena is using cutting-edge technologies to deliver one-of-a-kind tools and functionalities that global businesses urgently need,” Kieffer said.
“I’m looking forward to leveraging my expertise in managing SaaS platforms in fast-growing environments to help Dathena bring its platform to brand new markets.”
Also Read: Singaporean deep tech company Dathena eyes North America growth with new HQ launch
Kieffer will focus on developing the architecture required to support deployment and distribution of the platform via SaaS and other models.
Hong Kong-based Snapask raises US$35M for its on-demand tutoring app
Hong Kong based on-demand tutoring app Snapask has raised US$35 million in Series B funding, according to a press statement. The round was led by Asia Partners and Intervest.
Aiming to open its headquarters in Singapore, the company will use the newly added funds to create educational videos as well as expand into Vietnam and other markets in Southeast Asia. The company claimed to have served over three million students across eight markets.
Also Read: Morning News Roundup: Uncharted, Visinema raise Series A investments
“We will continue to invest in both products and content to meet students’ learning needs, focusing on the promotion of self-directed learning and creating environments in which students can compete and cooperate with peers,” said Snapask Founder and CEO Timothy Yu.
Singaporean fintech startup Jungle secures lending licence in the Philippines
Jungle, a fintech lending platform that allows customers to pay their purchases at a later period, has obtained a licence from Philippine Securities and Exchange Commission (SEC), according to DealStreet Asia.
The licence arrived five months after Jungle raised a US$125,000 pre-seed funding round, led by investors and serial entrepreneurs Roger Crook and Enrique Dubois.
The company said that it will continue to pursue partnerships with the country’s top brands and retailers in verticals such as consumer electronics, home appliances and furniture, dental and medical, travel, education, sporting goods, and apparel.
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