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FINANCIAL SERVICES, FOOD & BEVERAGE, STOCKS, TRANSPORT & LOGISTICS | Staff Reporter, Singapore
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Daily Briefing: Malaysia asks for six-month extension to clarify stance on RTS project; Validus Capital and Lighthouse Canton reopen trade finance fund

And Singapore-based F&B startup Waitrr partners with Nest Tech to boost its international expansion.

From ChannelNews Asia:

Singapore's Transport Ministry confirmed on Thursday (Apr 4) that Malaysia has requested for a six-month extension on a deadline to respond to matters related to the Johor Bahru-Singapore Rapid Transit System Link (RTS) project.

Malaysia requested for the extension on Mar 27, said the Ministry of Transport (MOT) in response to media queries.

MOT's statement comes after Malaysian Transport Minister Anthony Loke said on Monday that it had asked for an extension until September to allow Putrajaya more time to examine several issues, including the cost of implementing the project. The deadline for Malaysia to confirm its venture partner lapsed on Mar 31.

It added that it is possible to defer project deadlines and review project parameters, provided it is done within the framework of the RTS Link Bilateral Agreement (BA) and mutually agreed upon by both countries.

Read more here.

From DealStreetAsia:

Singapore’s leading SME lending platform Validus Capital and Lighthouse Canton, an independent asset management and family office advisory services firm, have announced the reopening of the LCV Trade Finance Fund in June 2019 with an additional capacity of $20m (US$14.8m), according to a press release.

The funds will be made available to Singapore’s small and medium enterprises particularly in the manufacturing, construction and marine sectors who face a financing gap.

Existing Lighthouse Canton clients will be given priority to invest in the Fund ahead of June 2019, when it will be open to new investors, the release added. Launched in June 2018, the fund raised $20m before its soft-close in March 2019. Its strategy is to invest in trade finance facilities for Singaporean SMEs who are suppliers of government-linked companies (GLCs) and large corporations. The Fund’s target investors are accredited UHNWIs, family offices and institutions.

Read more here.

From e27:

Singapore-based F&B ordering startup Waitrr has formed a strategic partnership with Nest Tech, a VC that invests into seed-stage tech startups, in which the latter also invests in Waitrr. The partnership will also look into international expansion.

Founded by Tim Wekezer in 2015, Waitrr’s solution maximises the capacity of floor staff, table-turns, and average ticket size with no up-front cost while capturing consumer insights and enabling restaurants to re-market to their customers.

Waitrr enables diners to order ahead from over 200 restaurants in Singapore via mobile app and provides the diners with payments solution. It provides dining experiences for both guests and restaurant partners.

For F&B outlets, the company said that using Waitrr would improve the operational efficiency of both dine-in and takeaway establishments as it automates the order taking and payment processes.

Read more here.

Photo credit: LTA

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