Latest news with #EnterpriseSingapore
Yahoo
5 days ago
- Business
- Yahoo
Apollo Wins Bid for Singapore's $1 Billion Private Credit Fund
(Bloomberg) — Apollo Global Management (APO) won the mandate to manage Singapore's $1 billion private credit fund targeting local high growth enterprises, according to a government portal for procurement website. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say Mumbai Facelift Is Inspired by 200-Year-Old New York Blueprint The Ministry for Trade and Industry and Enterprise Singapore in March introduced the $1 billion Private Credit Growth Fund, which aims to provide non-dilutive customized financing for high-growth local enterprises, according to a statement then. It will announce more details about the fund by the third quarter, the statement said. The Private Credit Growth Fund, first introduced in the government's budget speech in February, is among Singapore's initiatives as it seeks to boost its presence in the burgeoning $1.7 trillion private debt space. This follows the Monetary of Authority of Singapore's initiative from March, when it had sought public feedback on a proposed regulatory framework targeting the asset class. The framework aims to grant retail investors access to the private market with proper safeguards in place. Adding onto the city state's private market ambitions, Singapore's sovereign wealth fund Temasek Holdings Pte. in December said it had set up a private credit platform with an initial portfolio of about S$10 billion ($7.8 billion), consisting of direct investments and credit funds. Meanwhile, Temasek's unit SeaTown Holdings International last year raised $1.3 billion for its second private credit fund. The firm actively lends to companies across Asia Pacific, such as to Vietnamese conglomerate Vingroup JSC's units Vincom Retail JSC and Vinfast Auto Ltd. What the Tough Job Market for New College Grads Says About the Economy How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All Godzilla Conquered Japan. Now Its Owner Plots a Global Takeover Forget DOGE. Musk Is Suddenly All In on AI The Quest for a Hangover-Free Buzz ©2025 Bloomberg L.P.
Bloomberg
5 days ago
- Business
- Bloomberg
Apollo Wins Bid for Singapore's $1 Billion Private Credit Fund
Apollo Global Management won the mandate to manage Singapore's $1 billion private credit fund targeting local high growth enterprises, according to a government portal for procurement website. The Ministry for Trade and Industry and Enterprise Singapore in March introduced the $1 billion Private Credit Growth Fund, which aims to provide non-dilutive customized financing for high-growth local enterprises, according to a statement then. It will announce more details about the fund by the third quarter, the statement said.
The Star
5 days ago
- Business
- The Star
Singapore key exports surprise with 13% expansion in June
Singapore's exports rose 5.2% in the first six months of 2025 amid tariff uncertainty. — The Straits Times SINGAPORE: Singapore's key exports enjoyed a surprisingly strong rebound in June, reversing the fall in May, on the back of growth in both electronics and non-electronics shipments. Non-oil domestic exports (Nodx) expanded 13% in June from a year ago, after a revised 3.9% decline in the previous month, data from Enterprise Singapore (EnterpriseSG) on July 17 showed. This beat the expectations of analysts polled by Reuters who forecast a rise of 5%. For the first six months of 2025, exports rose 5.2%. Growth was driven mainly by front-loading as companies raced to beat the original July 9 tariff reprieve deadline. EnterpriseSG said it is actively monitoring the evolving tariff situation and will adjust its 2025 Nodx forecast as necessary to reflect changing market conditions. The next forecast will be released in August. The agency had earlier said in its May quarterly trade review that it expects growth in key exports to come in at the lower end of its 1% to 3% forecast for 2025. US President Donald Trump, who has sent more than 20 letters to trading partners outlining the tariff rates for different countries, has yet to send a letter to Singapore. The tariff pause deadline was extended from July 9 to Aug 1, but continues to darken the outlook for Singapore companies. In June, shipments of electronic products grew 8% year on year, extending the 1.6% increase in the previous month. Integrated circuits, or chips, grew 17.5%, while personal computers surged 53.8% and bare printed circuit boards rose 17%. These three segments contributed the most to the increase in electronic shipments. Non-electronics shipments also expanded in June, by 14.5%, reversing the 5.8% decline in the previous month. Non-monetary gold exports soared 211.9%, while specialised machinery grew by a smaller 31.4%. Other speciality chemicals expanded 20.1%. Singapore's shipments to the United States again dropped, alongside falling shipments to the eurozone, Thailand, Malaysia, Indonesia and Japan. But exports to Hong Kong expanded 54.4% in June, following the 0.1% increase in the preceding month. This was due to growth in exports of specialised machinery, chips and non-monetary gold. Shipments to Taiwan also rose, by 28.3% in June, extending the 15.6% growth in the preceding month. This was a result of growth in exports of specialised machinery, measuring instruments and chips. Singapore's exports to South Korea expanded by 33% in June, following May's 4.9% rise. This was due to growth in exports of specialised machinery and personal computers. — The Straits Times/ANN
Independent Singapore
6 days ago
- Business
- Independent Singapore
June 2025 NODX jumps 13% YoY: Singapore beats forecasts as PCs, ICs, and gold shipments climb
Photo: Freepik/tawatchai07(for illustration purposes only) SINGAPORE: Singapore's non-oil domestic exports (NODX) jumped 13% year-on-year (YoY) in June, beating analysts' expectations, amid stronger shipments of personal computers (PCs), integrated circuits (ICs), and non-monetary gold, Reuters reported, citing data released by Enterprise Singapore on Thursday (Jul 17). A Reuters poll had forecast 5% annual growth, following a revised 3.9% decline in May. Exports of electronics such as ICs and PCs expanded by 17.5% and 53.8%, respectively, while non-electronic products, like non-monetary gold and specialised machinery, grew by 211.9% and 31.4%, respectively. Enterprise Singapore did not provide details of the month-on-month (MoM) seasonally adjusted figures. In June, exports to Hong Kong grew the most, rising 54.4% from a year ago. Shipments to South Korea, Taiwan, and China also went up by 33%, 28.3%, and 8.5%, respectively. However, exports to the United States dropped by 4.8%; the same went for exports to Japan (-3.4%), Indonesia (-13.6%), Malaysia (-8.0%), Thailand (-19.8%), and the European Union (-23.6%). For the first half of 2025, Singapore's NODX rose 5.2% YoY. According to Channel News Asia (CNA), citing advance estimates from the Ministry of Trade and Industry (MTI), Singapore's economy grew 4.3% YoY in Q2. However, Trade Minister Gan Kim Yong warned that new US tariffs and a diminishing front-loading effect could weigh on the economy's growth over the next six to 12 months. Earlier this month, US President Trump began telling trade partners, including key Asian allies Japan and South Korea, of higher tariffs of up to 50% from Aug 1. Singapore has not yet received a new notice from Washington but remains under the 10% baseline tariff announced in April. Meanwhile, Vietnam and Indonesia have secured lower rates through separate deals with the US. Enterprise Singapore said it is actively monitoring the evolving tariff situation and will adjust the 2025 NODX forecast as necessary to reflect changing market conditions. /TISG Read also: Singapore businesses to receive up to S$100,000 grant in October as they face a new tariff environment; SMEs to get 'more generous' support () => { 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); } });
Malay Mail
6 days ago
- Business
- Malay Mail
Singapore beats export expectations with 13pc rise annually in June, driven by electronics and gold
SINGAPORE, July 17 — Singapore's non-oil domestic exports rose 13.0 per cent in June from the same month a year earlier, government data showed today, outpacing analysts' estimates as shipments of computers, integrated circuits and non-monetary gold rose significantly. The rise compared with a Reuters poll forecast for annual growth of 5.0 per cent, and followed a revised 3.9 per cent fall in May. Details of the month-on-month seasonally adjusted change in exports were not included in Enterprise Singapore's statement. Exports of electronic products such as integrated circuits and computers grew an annual 53.8 per cent and 17.5 per cent respectively, while non-electronic products such as non-monetary gold and specialised machinery grew by 211.9 per cent and 31.4 per cent respectively. Exports to Hong Kong, Taiwan and South Korea increased in annual terms in June, while shipments to Japan, Indonesia and the US decreased. DBS senior economist Chua Han Teng said that although Singapore's goods exports were resilient in the first half of the year, front-loading of shipments will be followed by a deceleration in trade and manufacturing production in the latter half of the year. For the first six months of 2025, non-oil domestic exports rose 5.2 per cent year-on-year. 'The city-state's external demand will likely face downward pressures, due to still-high global trade frictions and continued uncertainty surrounding US tariffs, such as the potential imposition of US sectoral tariffs on semiconductors and pharmaceutical goods,' he said. US President Donald Trump has notified some countries that tariffs of about 20 per cent to 50 per cent that will kick in from August 1, warning that any reprisals would draw a like-for-like response. South-east Asian neighbours Vietnam and Indonesia have both struck deals with Washington for tariffs below the levels Trump had initially threatened. Trade-dependent Singapore has not yet received a letter from the Trump administration this round, and its exports are still subject to the 10 per cent baseline tariff announced in April. Singapore's economy grew a faster-than-expected 4.3 per cent in the second quarter from a year earlier, preliminary data showed, despite a dimming outlook due to global economic uncertainty. Trade Minister Gan Kim Yong has warned that the implementation of US tariffs and a diminishing front-loading effect would weigh on growth over the next six to 12 months. Gan will visit the United States later this month to discuss tariff concessions for pharmaceutical exports as part of efforts to limit the economic impact of the trade war on Singapore. — Reuters
