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ECONOMY, INFORMATION TECHNOLOGY | Staff Reporter, Singapore
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Daily Briefing: Singtel Innov8 joins US$20m funding for US cybersecurity firm; MOM slams 3 firms with $153,000 fine over 2014 Geylang Fire

And here's why Raffles Medical shares could remain bullish in the next years.

From Dealstreet Asia:

US-based cybersecurity firm Balbix has closed a $20-million Series B funding round co-led by Singtel Innov8 and Mubadala Ventures, it said in a statement.

Other investors in the round include former Cisco CEO and executive chairman John Chambers, former Cisco executive vice-president and chief development officer Pankaj Patel, entrepreneurs BV Jagadeesh and Gary Gauba as well as existing investor Mayfield Fund.

The fresh funding will be utilised to expand the company and accelerate its growth, said Balbix.

Read more here.

From Yahoo! News Singapore:

Three directors and their respective companies have been fined a total of $153,000 for housing foreign workers in an overcrowded shophouse where a deadly fire claimed four lives in December 2014.

The three firms were also barred from employing foreign workers.

Ong Lai Kar, director of Essential Clean and Care; Ong Huay Chew, director of Seng Foo Building Construction; and Koh Kok Seng, director of Bestway Cleaning Servies, were convicted on 22 June under the Employment of Foreign Manpower Act for housing foreign workers in overcrowded private residential premises.

Read more here:

From The Motley Fool:

Raffles Medical is one of the largest providers of healthcare services in the region with operations in 12 cities across Singapore, China, Japan, Vietnam, and Cambodia. It is indeed a simple-to-understand business. Raffles Medical is also a well-known and trusted brand with many experienced medical professionals under its headcount.

It is also in capable hands, as seen from its rising adjusted return on equity (ROE). The ROE shows how capable management is at generating a profit using shareholders’ capital. Raffles Medical’s adjusted ROE has increased from 13.7% in 2013 to 19.3% in 2017.

Read more here.

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