Friday, April 25, 2014

BWI: Mahindra Finance Announces Audited Financial Results for the Quarter and Year Ended 31st March 2014

 
Source : Mahindra & Mahindra Ltd.
Friday, April 25, 2014 11:49AM IST (6:19AM GMT)
 
Mahindra Finance Announces Audited Financial Results for the Quarter and Year Ended 31st March 2014
 
Mumbai, Maharashtra, India

F-2014 AUM up by 22% Crosses Rs.34000 crores
F-2014 Consolidated Revenue up by 29% Crosses Rs.5000 crores
F-2014 Consolidated PBT up by 14% at Rs.1462 crores
Board Recommends 190% Dividend
Customer Base Crossed 3 Million

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets, announced today, the audited financial results for the quarter and year ended 31st March 2014.
 
F-2014 Consolidated Results
 
The Total Revenue increased by 29% to Rs.5301 crores from Rs.4113 crores in the corresponding period last year. The Profit Before Tax (PBT) after considering the exceptional item on account of additional provision on standard assets of Rs.36 crores in previous year grew by 14% to Rs.1462 crores during the year ended 31st March, 2014 as compared to Rs.1286 crores during the corresponding period last year. The Company has continued making higher provision on standard assets at the above rate during the year as prescribed by Reserve Bank of India. The Profit After Tax (PAT) during the year ended 31st March, 2014 was Rs.954 crores.
 
F-2014 Q4 Consolidated Results
 
The Total Revenue increased by 24% to Rs.1476 crores from Rs.1189 crores in the corresponding quarter last year. The Profit Before Tax (PBT) after considering the exceptional item on account of additional provision on standard assets of Rs.36 crores in corresponding quarter last year grew by 22% to Rs.512 crores during the quarter ended 31st March, 2014 as compared to Rs.419 crores during the corresponding quarter last year. The Company has continued making higher provision on standard assets at the above rate during the year as prescribed by Reserve Bank of India. The Profit After
 
Tax (PAT) for the quarter ended 31st March, 2014 was at Rs.337 crores.
 
F-2014 Standalone Results
 
The Total Revenue increased by 27% to Rs.4953 crores from Rs.3895 crores in the corresponding period last year. The Profit Before Tax (PBT) after considering the exceptional item on account of additional provision on standard assets of Rs.36 crores in previous year grew by 11% to Rs.1346 crores during the year ended 31st March, 2014 as compared to Rs.1215 crores during the corresponding period last year. The Company has continued making higher provision on standard assets at the above rate during the year as prescribed by Reserve Bank of India. The Profit After Tax (PAT) during the year ended 31st March, 2014 was Rs.887 crores.
 
F-2014 Q4 Standalone Results
 
The Total Revenue increased by 22% to Rs.1371 crores from Rs.1126 crores in the corresponding quarter last year. The Profit Before Tax (PBT) after considering the exceptional item on account of additional provision on standard assets of Rs.36 crores in corresponding quarter last year grew by 18% to Rs.469 crores during the quarter ended 31st March, 2014 as compared to Rs.399 crores during the corresponding quarter last year. The Company has continued making higher provision on standard assets at the above rate during the year as prescribed by Reserve Bank of India. The Profit After
 
Tax (PAT) for the quarter ended 31st March, 2014 was at Rs.311 crores.
 
Dividend
 
The Board in its meeting held today recommended a dividend of 190% as against 180% (including a special dividend of 10%) paid during the last year.
 
Operations
 
Mahindra Finance, during the year ended 31st March, 2014, had a disbursement of Rs.25400 crores, maintaining its leadership position for vehicles and tractors in the rural and semi urban markets.
 
The Company maintained healthy growth of business and profits despite slowdown in auto and tractor industry and continuing high cost of borrowings through control of transaction cost and high collection efficiency levels.
 
The Company has taken special efforts to ensure controlling of NPA accounts. The new branches opened by the Company at the village levels are aimed at improving collections and providing services closer to customers’ doorsteps.
 
Mahindra Finance currently has a network of 893 offices and Total Assets Under Management of Rs.34133 crores as on 31st March, 2014 as against Rs.27913 crores as on 31st March, 2013, a growth of 22%.
 
During the year, the Company’s customer base has crossed the 3 million mark in the month of January 2014.

The Company continued to broad base its consortium of lenders by bringing in new Banks, Mutual Funds, Insurance Companies and Trusts.

SUBSIDIARIES
 
Mahindra Insurance Brokers Limited (MIBL)
 
During the year ended 31st March 2014, MIBL registered Revenue at Rs.111.2 Crores as against Rs.86.3 Crores, registering a growth of 29% over the same period previous year. The Profit After Tax (PAT) was Rs.42.0 Crores as against Rs.34.5 Crores, registering a growth of 22% over the same period previous year.
 
During the quarter ended 31st March 2014, MIBL registered Revenue at Rs.32.5 Crores as against Rs.25.7 Crores, registering a growth of 26% over the same period previous year. The Profit After Tax (PAT) was Rs.13.0 Crores as against Rs.10.8 Crores, registering a growth of 20% over the same period previous year.

Mahindra Rural Housing Finance Limited (MRHFL)
 
During the year ended 31st March 2014, MRHFL disbursed Rs. 630.6 Crores as against Rs.432.9 Crores during the previous year, registering a growth of 46 % over the previous year. MRHFL registered Revenue at Rs.212.5 crores as against Rs.140.4 crores, registering a growth of 51% over the previous year. The Profit After Tax (PAT) was Rs. 27.1 Crores as against Rs. 20.3 Crores, registering a growth of 33% over the same period previous year.
 
During the quarter ended 31st March 2014, MRHFL disbursed Rs. 238.9 Crores as against Rs. 151.6 Crores during the same period previous year, registering a growth of 58% over the same period previous year. MRHFL registered Revenue at Rs.65.9 crores as against Rs.43.4 crores, a growth of 52% over the same period previous year. The Profit After Tax

(PAT) was Rs. 12.5 Crores as against Rs. 8.7 Crores, registering a growth of 44 % over the same period previous year.

About Mahindra & Mahindra Financial Services Limited
 
Mahindra & Mahindra Financial Services Limited (MMFSL), part of the USD 16.7 billion Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 3 million customers and has an AUM of over USD 5 billion. The Company is a leading vehicle and tractor financier and also offers fixed deposits and loans to SMEs. The Company has over 900 offices across the country and is the first finance company from India to form a part of Dow Jones Sustainability Index.
 
The Company's Insurance Broking subsidiary, Mahindra Insurance Brokers Limited (MIBL), is a licensed Composite Broker providing Direct and Reinsurance broking services.
 
Mahindra Rural Housing Finance Limited (MRHFL), another subsidiary of MMFSL provides loans for purchase, renovation, construction of houses to individuals in the rural areas of the country. The regulator, National Housing Bank
(NHB) has 12.5% equity stake in the Company.
 
The Company has a JV in US, Mahindra Finance USA, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra tractors in US.
 
Visit us at www.mahindra.com   

http://www.mahindrafinance.com

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Media Contact Details

Ruzbeh Irani, Chief Group Communications and Ethics Officer and Member of the Group Executive Board Mahindra Group Mahindra & Mahindra Ltd., , +91 (22)24901441 , group.communications@mahindra.com

 

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BWI: Dr. Arun Chandavarkar Appointed as CEO and Joint Managing Director of Biocon Ltd.

 
Source : Biocon Limited
Thursday, April 24, 2014 11:32PM IST (6:02PM GMT)
 
(BSE:532523)(NSE:BIOCON)
Dr. Arun Chandavarkar Appointed as CEO and Joint Managing Director of Biocon Ltd.
 
Bangalore, Karnataka, India

Biocon Ltd., Asia's premier biotechnology company, announced that the Board of Directors of the Company, in their meeting today, have approved the induction of Dr. Arun Chandavarkar, on to the board of Biocon Limited. He has also been appointed as Chief Executive Officer and Joint Managing Director.  
 
Welcoming Arun on the Board, Kiran Mazumdar-Shaw, CMD, Biocon, said, “I am extremely happy to have Arun join the Board of Directors and take on the mantle of CEO & Joint MD. Arun has been a core member of the leadership team at Biocon and has worked very closely with me over the last 24 years. He has played a pivotal role in the evolution of Biocon and I am confident that, in his new role, he will build immense value for Biocon and its stakeholders.”
 
Dr. Arun Chandavarkar, CEO & Joint MD, Biocon, said, “I am delighted and honoured to join the Board of Biocon. These are exciting times and I look forward to steering the Company to the next level.”
 
Dr. Arun Chandavarkar has a B. Tech from IIT, Bombay and earned his Ph.D. in Biochemical Engineering from the Massachusetts Institute of Technology, Cambridge, USA

Dr. Chandavarkar has been the Chief Operating Officer of Biocon since 2006. He joined Biocon as General Manager – Operations in 1990. Under his leadership, Biocon has established expertise in diverse technology platforms spanning microbial fermentation, cell culture, chemical synthesis and purification to develop a wide range of products from specialty enzymes to active pharmaceutical ingredients to recombinant therapeutic proteins. 

 
Media Contact Details

Seema Ahuja, Head-Corporate Communications Biocon Limited, ,+91-9972317792 , seema.ahuja@biocon.com

Rumman Ahmed, Manager-Corporate Communications Biocon Limited, ,+91-9845104173 , rumman.ahmed@biocon.com

 

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Thursday, April 24, 2014

BWI: Broad-Based Business Momentum Helps Biocon Deliver 16% Revenue Growth in FY14

 
Source : Biocon Limited
Thursday, April 24, 2014 10:32PM IST (5:02PM GMT)
 
Broad-Based Business Momentum Helps Biocon Deliver 16% Revenue Growth in FY14
Board recommends a dividend of Rs. 5/share (100%)
 
Bangalore, Karnataka, India

FY14 Performance: Revenues Rs 2,933 Crs; EBITDA Rs 743 Crs; PAT Rs 414 Crs

Commenting on the quarterly performance and highlights, Chairman and Managing Director, Kiran Mazumdar-Shaw stated, “Biocon ended fiscal 2014 on a strong note. We delivered 16% revenue growth along with a healthy EBITDA Margin of 25%. This fiscal we recorded robust performance, an outcome of our efforts aimed at optimising our product mix, augmenting capacities and driving operational efficiencies.

We have delivered on our promise of affordable innovation through commercialization of Alzumab™, an anti-CD6 novel biologic for Psoriasis; and CANMAb™, the world’s most affordable trastuzumab. We are pleased that a large number of patients benefitted from these two products. We continue with our innovation led business strategy and look forward to deliver superior value to our stakeholders.”

Highlights:

 
  • Diversified Revenue growth in FY14
    • Biopharmaceuticals Segment: 14% YoY
    • Research Services Segment: 28% YoY 
  • Group EBITDA and PAT margins at 25% and 14% respectively
  • R&D investments of Rs131 Crores (6% of Biopharma Segment sales)
  • Commercial Launch of the world’s most affordable trastuzumab, CANMAb®
  • Inauguration of Baxter’s Global Research Centre at Syngene
  • Elevation of Dr. Arun Chandavarkar to Chief Executive Officer and Joint Managing Director
  • Appointment of Mr. Ravi Limaye, as President – Marketing, Biocon

Business Performance


Financial Highlights: Q4 FY14 (In Rs. Crores)

 

Revenue : 746
R&D Expenses: 29      
EBITDA: 193                         
(EBITDA Margin: 26%)
PAT:  113                                   (PAT Margin: 15%)

Revenue Breakup:
  • Biopharmaceuticals: 535
  • Research Services: 188
  • Other Income: 23


Biopharma
 
The biopharma segment delivered a growth of 14% YoY and 15% YoY for FY14 and Q4 FY14 respectively.
 
Commenting on this performance, Ravi Limaye, President - Marketing, Biocon, saidThe healthy growth of 14% this fiscal from our biopharma segment reflects our ability to manage the rapidly changing business environment. We continue our efforts to rebalance our product portfolio in the biopharma segment to ensure higher margin accretion despite the underlying current of commoditization in some of our key product portfolios. The strong traction in biosimilars, supported by capacity augmentation should hold us in good stead till our Malaysian facility comes online. The return to growth of our branded formulations segment is a positive sign, and we expect this vertical to deliver strong growth going forward.”

Small Molecules

Our sustained focus on optimizing our product portfolio in Small Molecules has helped us deliver a healthy set of numbers this fiscal. The recent portfolio realignment helped us offset the impact of continuous commoditization in the statins space. We have witnessed good business traction in Immunosuppressants and specialty products and expect it to sustain in FY15.
 
We have made investments this fiscal to progress from APIs to generic formulations and ANDAs, thereby moving up the pharma value chain. These investments will help us sustain our growth momentum in the coming years by ensuring a healthier product mix. We expect to initiate our dossier filings from this portfolio in FY15, which will bear dividends over the next few years.
 
Biosimilars

Our generic Insulins portfolio has delivered strong growth this fiscal through our expanding geographical footprint and increasing market penetration. Our generic rh-Insulin is now approved in over 55 countries.  This growth has been supported by our enhanced capacities over the course of fiscal 2014. Our Malaysia project is on track to be commissioned in FY15. We continue to make progress on our various developmental programs, and hope to bring some of them to the clinic in FY15.

Branded Formulations 

The branded formulations vertical grew at 9% YoY this quarter, vis-à-vis the industry growth of 7% YoY, delivering revenues of Rs. 93 Crs in Q4 FY14.  We closed FY14 with sales of Rs. 391 Crs and a growth of 13% vs. the overall industry growth of 6%, driven by our flagship brands of BioMAb EGFR®, Abraxane™, Insugen® and Basalog®. We launched our trastuzumab product, CANMAb® in India in Q4 FY14.

Novel Molecules

We continue with the clinical development of our novel oral insulin molecule, IN 105, in USA, in partnership with BMS.
 
We have initiated the groundwork to explore expanded indications for our novel Anti CD6 molecule, Itolizumab. We are in discussions with potential partners for the out-licensing of this molecule.

Research Services

The research services segment grew at 28% YoY in FY14 and 14% in Q4 FY14. The quarter also saw the inauguration of the Baxter Global Research Centre, another multi-year dedicated services engagement with a global pharma company.
 
Commenting on this performance, Peter Bains, Director Syngene International, said, “We are pleased to report a strong set of numbers for FY14 with 28% YoY revenue growth which has also translated into a strong EBITDA growth. It is encouraging to see strong, broad based business momentum across our chemistry, biology, biologics and clinical service platforms. Our latest long term, dedicated research Centre for Baxter reflects the strong value that we bring to biopharma through wide ranging quality services and flexible business models.  Our order book and outlook for the coming year remains robust, and, in line with our midterm outlook, we continue to invest in strengthening and enhancing our discovery and development service platforms.” 

Appointments:

Mr. Ravi Limaye has joined Biocon as President, Marketing. He has over 25 years’ experience with global pharma companies like Novartis, GSK and Roussel Uclaf (now part of Sanofi). Prior to joining Biocon, Ravi was with Novartis, India, responsible for their Specialty Business, Business Development and Licensing.

Outlook

We expect FY15 to reflect continued business momentum with biosimilars, branded formulations and research services driving growth. The progress in our development pipeline (across biosimilars and novel molecules) will see some of our molecules enter the clinic. We continue to make investments in infrastructure and people to support our growth.
 

About Biocon

Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is a fully-integrated, innovation-led, emerging global biopharmaceutical enterprise serving customers in over 85 countries. It is committed to reduce therapy costs of chronic diseases, like autoimmune, diabetes, and cancer to enable access to affordable healthcare solutions for patients, partners and healthcare systems across the globe. Biocon's key innovations include two novel biologics, BioMAb EGFR® for cancer and ALZUMAb™ for psoriasis. The company has also introduced CANMAb™, the world’s most affordable trastuzumab, for HER2- positive  breast cancer and has pioneered the development of the world's first pichia-based recombinant human Insulin, INSUGEN®  and insulin analog Glargine, BASALOG ®.  www.biocon.com
 
Disclaimer

Certain statements in this release concerning our future growth prospects are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others general economic and business conditions in India, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither our company, our directors, nor any of our affiliates, have any obligation to update or otherwise revise any statements reflecting circumstances arising after this date or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition.

Earnings Call

The company will conduct an hour long call at 3:30 PM IST on April 24, 2014 where the senior management will discuss the company’s performance and answer questions from participants. To participate in this conference call, please dial the numbers provided below five to ten minutes ahead of the scheduled start time. The dial-in number for this call is +91-22-3938 1081/ 6746 5891.  Other toll numbers are listed in the conference call invite which is posted on the company website www.biocon.com. The operator will provide instructions on asking questions before the start of the call. To receive reminders for the earnings call, you can register here. A replay of this call will also be available from April 25, 2014 – May 3, 2014 on +91 22 3065 1212, Playback ID: 311121#.  The transcript of the conference call will be posted on the company website within 7 working days of the investor conference call.

To view the fact sheet, please click on the link mentioned below:

Encl.: Fact Sheet - Consolidated Income Statement and Balance Sheet (Indian GAAP)

 
Media Contact Details

Saurabh Paliwal, Investor Relations, ,+91-9538380801 ,+91 (80) 28082040 , saurabh.paliwal@biocon.com

Sweta Pachlangiya, Investor Relations, ,+91-9686509372 ,+91 (80) 28082808 Ext 5481 , sweta.pachlangiya@syngeneintl.com

Seema Ahuja, Media Relations, ,+91-9972317792 , seema.ahuja@biocon.com

Rumman Ahmed, Media Relations, ,+91-9845104173 , rumman.ahmed@biocon.com

 

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BWI: Meritnation Junior makes Learning Fun and Addictive for Children

 
Source : Meritnation.com
Thursday, April 24, 2014 3:38PM IST (10:08AM GMT)
 
Meritnation Junior makes Learning Fun and Addictive for Children
A rewards & avatars module, a gamified practice based approach along with a fun study companion called POTU help make studies addictive
 
New Delhi, Delhi, India

Meritnation, India’s largest online education portal, has rolled out a brand new product exclusively for students of class I to V. Called ‘Meritnation Junior’ it focuses on concept based learning, with practice as the bedrock of all learning.
 
Meritnation Junior has been developed as an education platform for students that is engaging and guarantees true mastery of every topic. A strong incentive program to motivate young learners, short videos to help students when they get stuck with a concept, a fun study companion who is integrated into the product with high quality animations, homework help, and a powerful parent dashboard with access to detail reports are some of the features of Meritnation Junior that are geared to make studying fun and addictive.
 
Pavan Chauhan, MD and CEO – Meritnation.com said, “At Meritnation, our endeavour is to make learning tools easily accessible and very user friendly. With a platform dedicated to junior classes, we have gone a step further to diversify the ways in which basic concepts and elementary aspects of every subject can be absorbed through fun and games. The idea is to get students to enjoy learning from a very young age and master their basics.”
 
The website provides unlimited questions across 500+ topics with over 1000+ videos and downloadable worksheets. The specially designed parent’s zone allows parents to create tests and assign them to their children. They can monitor their child's performance through comprehensive reports that allow parents to readily identify the 'weak spots' in their child's learning.
 
The Scorometer on the website helps indicate the proficiency level a child has reached on a given topic. Ranging from 'beginner', 'advance' to 'proficient', the Scorometer helps a child keep track of progress on the topic. Every point that the child collects on the site also opens up new avatars, further inspiring her to do better. The downloadable worksheets and revision videos make revision easy and engaging.
 
Introduce your child to the specially-designed Meritnation Junior and let her delve into a fun world of learning. Make studying a hobby and not a compulsion with Meritnation Junior and see your child blossom into a well-rounded academic performer!
 
About Meritnation.com:
 
Founded in 2009, Meritnation.com is the largest online education company in the K12 sector (Kindergarten to class 12) in India & is a Naukri.com group.
 
Meritnation’s goal is to make school easy for students. This is done by harnessing the power of technology to identify and understand each student’s specific learning needs and provide them customized content to nurture their learning curve. With over 65 lakh students, India’s largest content library of Animated Videos and an unlimited Question Bank, Meritnation makes studies easy for students from class 1-12.

 
Media Contact Details

Megha Goel, Value 360 Communications Private Limited, ,+91-9899656751

 

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BWI: Singapore Touted to Become Asia’s Silicon Valley: AsiaBiz Services

 
Source : Asiabiz Services
Thursday, April 24, 2014 2:00PM IST (8:30AM GMT)
 
Singapore Touted to Become Asia's Silicon Valley: AsiaBiz Services
 
Singapore


The country’s allure to foreign tech companies, abundant Government funding, and an optimal atmosphere for entrepreneurship has made it highly ideal to Asian tech entrepreneurs, says the nation’s leading incorporation consultancy.

Singapore inches closer to becoming Asia’s version of Silicon Valley as the National Research Foundation (NRF) injects $60 million this week into six venture capital funds that finance high tech startups in Singapore. This capital will be matched dollar-for-dollar by selected private investors to amount to $120 million for the sole purpose of stimulating technology-oriented entrepreneurship in Singapore.
 
Singapore is the gateway to Asia and attractive destination for expatriates. It is also identified as one of the top launch pads for business ventures, owing primarily to the ease of conducting business. The nation’s growing entrepreneurial momentum and tech-savvy workforce makes it an ideal hub for tech-startups to flourish, among other factors as stated below.
 
Generous Provision of Funding

The $60 million contributed by the NRF is the second batch of funding allocated for tech startups in Singapore. In 2008, the NRF created the Technology Incubation Scheme for the common purpose of uplifting tech startups, and have since funded 14 incubators and more than 100 tech startups to date with $50 million from 2010 to 2013.
 
“With the Government co-investing 85% of the capital up to $500,000, it is no wonder that Singapore is touted as Asia’s Silicon Valley”, said Mr. James Nuben, Head of Taxation at AsiaBiz Services.
 
Apart from the Technology Incubation Scheme, Spring Singapore has also offered co-funding opportunities to local tech startups called the Spring Seeds Capital (SSC), which has invested over $75 million in 210 startup companies, and garnered private investments for startups at over $150 million since 2001.
 
These funding schemes have made Singapore extremely popular among tech entrepreneurs from around Asia to kick start their tech startups.
 
An Ideal Ecosystem

Singapore has also created a number of hives of tech entrepreneurial activity. BLK71 in Ayer Rajah Crescent and The Hub in Somerset are some of the sites selected by the Government to accommodate numerous startup companies. For instance, BLK71 is the home to more than 100 startup companies that includes 3D-printing startups, software startups, and electric mobility startups, and is now being expanded into JTC LaunchPad@One-North, as announced earlier this year.
 
The close proximity the tech entrepreneurs share with one another has become a defining characteristic in their dynamic exchange of ideas and mentorship. The cross-pollination and diversity in these sites have enabled these entrepreneurs to fuel their innovation and productivity rapidly.
 
Magnet for Top Tech Companies

The juggernauts of the tech industry such as YouTube, Yahoo, MSN, LinkedIn and Facebook have founded offices in Singapore, and this has led to an upsurge in the tech-entrepreneurial climate of Singapore. This has led to top notch talent from Silicon Valley to be channeled to Singapore, such as Russel Simmons of PayPal fame to mentor tech startups.
 
The behemoth tech companies that have made their presence in Singapore have also ushered in investor confidence in Singaporean startups and a steady stream of venture capital. One such venture capital and incubator fund is the Golden Gate Ventures (GGV). GGV has migrated from Silicon Valley to establish a US$10 million incubator fund in Singapore, with the objective of fostering the collaboration between Silicon Valley and Asia.
 
Viki is a local tech company to benefit from this influx of capital. It is an online video streaming site that was registered and incorporated by students of Stanford and Harvard Universities in Singapore due to its closeness to the target affluent Asian market and accessibility to engineering-skilled workforce. In 2013, Viki was among the 20 local startup companies that was acquired by mammoth Japanese e-commerce company Rakuten for $200 million.
 
“It is undeniably lucid that Singapore has the right mix of capital flow, optimal environment, and ability to entice the big names in the tech universe to evolve into Asia’s Silicon Valley”, declared Mr. James Nuben.

Start your Singapore incorporation journey at http://www.asiabiz.sg/services/incorporation.
 
ABOUT ASIABIZ SERVICES
 
Asiabiz Services is a Singapore-based consultancy that offers business solutions for both local and foreign professionals, investors and entrepreneurs. Our areas of expertise include company incorporation, offshore company setup, accounting, taxation and other related corporate services. Asiabiz Services also provides work visa and immigration services professionals wishing to relocate to Singapore.
 
120 Telok Ayer Street, Singapore 068589
Phone: +65 6303 4614
http://www.asiabiz.sg

 
Media Contact Details

James Nuben, Asiabiz Services, ,+65 6303 4614 , media@asiabiz.sg

 

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