Updated digital guide to help Singapore's F&B sector tackle manpower challenges
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DBS partners with Hamilton Lane to provide tailored private assets solution for UHNWs and family offices in Asia
Photo: Depositphotos/TKKurikawa SINGAPORE: DBS has launched a bespoke private assets solution for its ultra-high net worth (UHNW) clients and family offices in Asia through a partnership with global investment firm Hamilton Lane. Private Assets Tailored by Hamilton Lane (PATH) allows qualified investors to build a diversified portfolio made up of private market funds spanning private equity, credit, infrastructure, and real estate, according to a joint press release issued on Wednesday (July 23). Each PATH portfolio is tailored to match the investor's unique investment goals, risk tolerance, and preferences. Since launching a few weeks ago, PATH has already drawn strong interest from clients, the bank said. Shee Tse Koon, group head of consumer banking and wealth management at DBS Bank, said the bank recently closed a mandate with a family office client. Mr Shee noted that client assets under management in private markets have grown nearly fivefold over the past five years, reflecting stronger demand for long-term, resilient investment opportunities beyond public markets. See also By 2022, no more treated water from Singapore - Johor 'With PATH, we are taking this momentum further by offering our clients an investment solution that comes with a level of customisation, transparency, and diversification rarely seen in the private wealth space. More importantly, with a lower entry point compared to traditional institutional structures, PATH also makes private market investing more accessible, allowing more of our clients to participate meaningfully in this asset class,' he added. As of March 31, 2025, Hamilton Lane manages and supervises about US$958 billion in assets worldwide, backed by 34 years of private market experience and data from Cobalt, which tracks over 64,070 funds and 164,490 companies. /TISG Read also: DBS becomes first Singapore-listed company to hit US$100B market capitalisation Featured image by Depositphotos () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
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Cut-throat price wars in China's 'instant retail' sector fuelling delivery mania
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an hour ago
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MAS monitoring Tokenize Xchange's progress in returning assets, money to customers
SINGAPORE: The Monetary Authority of Singapore (MAS) is monitoring the return of money and assets from Tokenize Xchange to its customers, the regulator said on Friday (Jul 25). This comes after the digital asset exchange said on Jul 20 that it had ceased operations in Singapore. MAS rejected its application for a digital payment token license on Jul 4. Amazingtech, operating as Tokenize Xchange, was exempted from licensing under the Payment Services Act 2019 (PS Act) while its application was being reviewed. "This temporary exemption applied to entities that were carrying on regulated activities at the time the PS Act came into force, and would end when the licence application was approved, rejected or withdrawn," said MAS. It added that sufficient notice would be given to unsuccessful applicants before a final decision is issued. Since the application was rejected, Tokenize Xchange is required to stop providing regulated activities and wind down in an orderly manner. It is also required to ensure that money and assets received from customers are returned. "MAS is monitoring Amazingtech's progress in doing so," the regulator said. Tokenize Singapore's 15 employees will be laid off by Sep 30, the company said, though some staff may be offered work in its international operations. Staff who remain with the company will assist Singapore users until Sep 30, and Tokenize will support its employees' efforts to pursue new career opportunities. Tokenize's exit comes as other exchanges such as Bitget and Bybit are considering leaving Singapore, according to a Bloomberg report. TRANSFERS, PHASED WITHDRAWALS In a press release on Jul 20, Tokenize said Singapore users can no longer buy or sell cryptocurrencies on the platform, but can transfer their assets to other platforms. They can also initiate cash withdrawals. The value of their portfolio in Singapore dollars as of 12am on Jul 18 will determine when they can withdraw their assets. Those with portfolio values under S$10,000 (US$7,800) can withdraw or transfer their assets from Jul 20, and those with portfolios between S$10,000 and S$99,999 can do so from Aug 1. Customers whose portfolios are worth S$100,000 or more can withdraw their assets from Sep 1. All transfers and withdrawals must be completed by Sep 30. RELOCATION TO LABUAN Tokenize Xchange on Jul 20 said it would relocate to Labuan, Malaysia, after MAS rejected its application. It is trying to obtain a license from the Labuan Financial Services Authority to operate under a regulated framework and continue serving its international customers. The company is also in the process of acquiring a company that holds a digital financial services license issued by the Labuan Financial Services Authority, and the deal is expected to close soon, said Tokenize. "Labuan will allow Tokenize to operate under a recognised regulatory framework tailored for cross-border digital asset services," the company said. "It also offers greater flexibility, tax efficiency, and access to international markets, supporting the platform's global growth ambitions." Tokenize is also interested in obtaining its Abu Dhabi Global Market (ADGM) license to enhance its regulatory credibility and expand its global footprint. "While we regret this outcome in Singapore, we view this development as an opportunity to fortify our international operations," said Mr Hong Qi Yu, chief executive officer and founder of Tokenize Xchange.
