Company Briefs: soCash


Fintech soCash has tied up with ICBC Singapore to extend its services to customers of the Industrial and Commercial Bank of China, enabling them to perform basic banking services like cash withdrawal from neighbourhood shops using the soCash app.

It adds ICBC to a list of partner banks that includes DBS, POSB and Standard Chartered.

The partnership strengthens soCash's distribution network and moves it closer towards internationalising its services, said the start-up. soCash is gearing up for expansion in Malaysia, Hong Kong and Indonesia after securing the relevant regulatory approvals.

Its cash network platform now comprises more than 1,300 locations around Singapore, with its service available at retail chains such as SPH Buzz, U Stars Supermarket, iEcon stores, U Mart, 7-Eleven and Hao Mart.

Yanlord Land Group

Real estate developer Yanlord Land Group has garnered around 1.43 billion yuan (S$282 million) in pre-sales at the inaugural launch of its Yanlord Gardens development in Nantong.

In a filing to the Singapore Exchange on Tuesday, Yanlord said it sold all 357 apartments available for sale within the first day at an average selling price of 28,570 yuan per sq m for 50,235 sq m gross floor area sold.

Yanlord chairman and chief executive officer Zhong Sheng Jian said: "Strong upgrader demand and healthy inflows of populations into first-tier and second-tier cities (in China) continue to drive demand for high-quality residential developments."

Surrounded by three natural parks, Yanlord Gardens has a plot ratio of 1.8 and benefits from the Nantong government's initiatives to develop the area into a model for technology company development and innovation.

Reenova Investment Holding

ISR Capital has changed its name to Reenova Investment Holding.

The special resolution relating to the name change was passed by shareholders at an extraordinary general meeting on June 28. The company lodged the notice of resolution with the Accounting and Corporate Regulatory Authority, which on Tuesday issued a notice of change of name, and the certificate of incorporation on change of name of company.

The company on Tuesday said it will arrange with the Singapore Exchange to change its trading counter name on the mainboard.

A version of this article appeared in the print edition of The Straits Times on July 04, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe