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CNA
25 minutes ago
- CNA
Growing wave of businesses going belly up in Singapore
More businesses are going belly up in Singapore, with more being forced by the courts to shut. So far this year, 187 companies have been liquidated, a jump from 146 in the same period last year and just 95 the year before. This has been keeping debt collectors busier than ever; they say that about 30 per cent more companies are having trouble paying debts. Our reporter Sherlyn Seah joins us in the studio to discuss this issue. She talks about the situation and what the numbers reflect about the economy. She also explains why debt collectors may be involved and tells us more about the outlook for businesses from here.
Business Times
an hour ago
- Business Times
Local startup MetaOptics Technologies lodges preliminary prospectus for Catalist IPO
[SINGAPORE] MetaOptics Technologies , a Singapore-headquartered semiconductor optics startup, on Wednesday (Jul 30) lodged its preliminary prospectus for a listing on the Singapore Exchange's Catalist board. It could become the third company to list on the Catalist board this year, following the debut of urban revitalisation specialist Lum Chang Creations on Jul 21, and the preliminary prospectus filing by design-and-build firm Dezign Format last month. In its offer document, MetaOptics said it is principally engaged in the metalens technology business. It designs and manufactures meta-optics components and products, such as metalenses, metalens camera modules, as well as metalens manufacturing equipment. Metalenses are ultra-thin optical devices with a wide range of applications, including smartphones, wearable displays for augmented and virtual reality, machine vision systems, bio-imaging and endoscopy. Tapping a growing market MetaOptics, which was founded in 2021, said it is the first pure-play metalens company globally to seek a public listing. The proposed listing is managed and sponsored by Zico Capital. The startup intends to use the bulk of the proceeds from the placement share issue for product development, research and development (R&D), as well as strategic partnerships. These include expanding its R&D team and funding the development of rectangular metalenses. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up It also plans to expand its business organically and through mergers and acquisitions, joint ventures and strategic alliances. A portion of the proceeds will go towards working capital and general corporate purposes. MetaOptics' proprietary technology includes artificial intelligence (AI) algorithms that enhance the performance of metalens-based imaging systems. It also holds intellectual property rights over direct etching on glass substrates – a breakthrough in fabrication methods, which are conventionally silicon-based. Such innovations could help the company to capitalise on the rapid expansion of the global optical metalens market. It is projected to grow at a compound annual growth rate of 74.8 per cent from 2024 to 2029, with the total market size estimated to reach US$493 million by 2029. Mark Thng, executive chairman and chief executive officer of MetaOptics, said: 'Central to our plan is the miniaturisation of devices and the integration of metalenses across a broad spectrum of smart device applications, including optical sensors, cameras, (AI and smart) glasses, autonomous vehicles', as well as augmented and mixed-reality displays. This would enable 'slimmer, more intelligent, and energy-efficient solutions', he added. To support its growth ambitions and meet client demands, MetaOptics is expanding into key overseas markets, the CEO said. It is also scaling up the deployment of its metalens solutions in the global smart device industry. For FY2024, MetaOptics posted a net loss of S$2.3 million on a revenue of S$79,440. The company noted limited revenue generation at its current stage of growth, and said that its losses were due primarily to operating and administrative expenses. It posted net losses of S$1.2 million and S$1.1 million for FY2023 and FY2022, respectively. That figure stood at S$706,391 for the first quarter of 2025. MetaOptics acknowledged that it might continue to operate at a loss, which could materially affect its working capital and cash reserves. It also said that, as an early-stage high-technology firm, it was unable to pay dividends and would only do so once the board deemed it financially viable.
CNA
an hour ago
- CNA
Singapore labour market: Q2 employment grows 8,400, up from 2,300 in Q1
Singapore's labour market grew in the second quarter, as total employment rose more than three times compared to the first quarter. Observers say the gains are favourable but some sectors are still vulnerable. Heron Lim, Lecturer at the ESSEC Business School, discusses hiring trends in the different sectors. He talks about what is driving these trends and what it might signal to jobseekers.
