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Sing Investments & Finance has S$1.6 billion in outstanding SME loans, all of which are collateralised. Mr Lee said the finance firm has not provided unsecured loans, on condition that it has made little sense to the shopper underneath the present restrictions. The central bank stated it’s now prepared to think about an application for a merger or acquisition if the potential merger partner or acquirer commits to maintaining financing to small and medium-sized enterprises (SMEs) as a core enterprise of the finance firm.
the finance firm shall, as from the date of the notice, cease to transact any financing enterprise in … Read more