Mastercard

Mastercard, allpay and PFS provisionally agreed to pay fines totalling more than US$44 million (S$59 million) for their alleged role in a "cartel", exploiting pre-paid cards used to distribute welfare funds to the homeless and victims of domestic abuse.

The trio engaged in anti-competitive behaviour by agreeing not to compete or poach one another's clients, Britain's Payment Systems Regulator said on Wednesday.

Mastercard, allpay and PFS last month admitted they took part in monopolistic behaviour and agreed to settle with the regulator.

BLOOMBERG

Linklogis

Tencent-backed Chinese fintech firm Linklogis will price its shares at HK$17.58 each to raise up to US$1.02 billion (S$1.37 billion) in its initial public offering (IPO), according to two sources.

Linklogis did not immediately respond to a request for comment.

At HK$17.58, the price is above the mid-point of the range of HK$16.28 to HK$18.28 flagged at the IPO's launch last Friday.

Linklogis shares are due to start trading on the Hong Kong Stock Exchange next Friday.

REUTERS

UOB

UOB chief executive Wee Ee Cheong (left) earned a total remuneration of $9.805 million last year, down 8.8 per cent from $10.75 million in 2019, noted the bank's annual report on Wednesday.

Mr Wee's base salary remained unchanged at $1.2 million. He received $8.568 million in bonuses and $37,000 in benefits in kind and others.

As before, 60 per cent of the variable pay due to Mr Wee will be deferred and vest over three years. Of the deferred portion, 40 per cent will be in cash, and the remaining 60 per cent will be in the form of share-linked units.

THE BUSINESS TIMES