DBS sells 77.8% stake in AXS to Tower Capital Asia

AXS became a subsidiary of the bank in 2006.

DBS Bank is selling a 77.8% stake in AXS Pte. Ltd., a digital payments company, to private equity firm Tower Capital Asia.

DBS will retain a minority stake of 9.9% in AXS.

AXS became a subsidiary of DBS in 2006. It has since expanded its digital payments and collections network through more than 660 AXS Stations across Singapore, as well as a suite of online and mobile services.

ALSO READ: DBS upskills sustainable financing knowledge of 1,600 relationship managers

Tower Capital Asia has indicated that there are no immediate plans to implement any material changes to AXS’ operations, and customers can continue to enjoy the services AXS currently avails, according to DBS’ press announcement.

Follow the link for more news on

DBS

A NOTE FROM SINGAPORE BUSINESS REVIEW

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia