TL;DR

Who: SBS, AVA, Zilingo

Weekly Business Brief | 2019 Week 7

Wrapping up the week's business news and announcements.

SBO Singapore Weekly Business Brief
Published:   |   Updated:   |   Posted in

SBS looks for its next CEO in Singapore

“SBS Transit is a local company, we don’t need to go on a global search.”

After the resignation of the previous CEO Gan Juay Kiat over extramarital affairs, SBS Chairman Lim Jit Poh says that the company will not go on a global search for a new CEO.

Speaking to The Straits Times, Mr Lim said that “SBS Transit is a local company, we don’t need to go on a global search.”

Read more in this The Straits Times report.

AVA to review pet boarding business regulations

Currently, pet boarding businesses can be charged under the Animals and Birds Act for animal cruelty or failing in their duty of care.

Senior Parliamentary Secretary in the Ministry of National Development (MND) Sun Xueling said that the Agri-Food and Veterinary Authority of Singapore (AVA) intends to review pet boarding industry regulations.

She was responding to Member of Parliament for Nee Soon GRC Louis Ng’s query on whether licensing requirements will be introduced. His question followed a public outcry after at least one dog died at the pet boarding home Platinium Dogs Club.

Currently, pet boarding businesses can be charged under the Animals and Birds Act for animal cruelty or failing in their duty of care. If found guilty, offenders may face a fine of up to S$40,000 and/or a jail term of up to two years.

Read more in this Channel NewsAsia report.

Zilingo raises US$226 million in Series D

With the funds, [Zilingo] will be investing in infrastructure and technology, as well as its expansion into Philippines, Indonesia & Australia in 2019.

The Singapore-based online fashion and lifestyle e-commerce marketplace raised S$307 million in its latest funding round. Some of the investors in this round include Sequoia Capital, Temasek, Burda Principal Investments, Sofina, Singapore investment fund EDBI.

With the funds, the platform will be investing in infrastructure and technology, as well as its expansion into Philippines, Indonesia & Australia in 2019.

Read more in this Bloomberg report.

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