Singapore Monetary Authority (MAS) and Singapore Financial Technology Association (SFA) jointly announced the launch of the Singapore Monetary Authority-Singapore Financial Technology Association-Shangsheng Financial Technology Solidarity Fund (MAS-SFA-AMTD FinTech Solidarity Grant) to provide support to Singapore financial technology companies challenged by COVID-19 's epidemic. This is also the first time to support the innovation and development of financial technology enterprises in Singapore and other ASEAN countries after leading the joint ASEAN Financial Innovation Network (AFIN) to launch the ASEAN Solidarity Fund (AMTD ASEAN-Solidarity Fund) on April 16.
The MAS-SFA-AMTD Financial Technology Solidarity Fund complements the S $125 million support plan announced by the Monetary Authority of Singapore on April 8, 2020 to maintain and enhance Singapore's financial services and financial technology sector.
After providing no less than S $2 million for the fund, the Monetary Authority of Singapore then invested S $4 million from the Singapore Financial Industry Development Fund (Financial Sector Development Fund) for a total of S $6 million. Applications for the fund will be open on May 18, 2020 and will last until December 31, 2021.
The fund consists of two main components:
1.5 million Singapore dollars Enterprise support Allowance (BSG): eligible Singapore Financial Technology companies will receive an one-time grant of up to S $20000 to cover the company's daily operating expenses, such as wages and rental expenses. This short-term assistance is designed to help financial technology companies stabilize their operations and retain talent. The enterprise support and support allowance is fully funded by Shangcheng.
4.5 million S $Enterprise Development support Program (BGG): eligible Singapore fintech companies will receive an award of up to S $40000 for their first proof of concept (POCs) with financial institutions on the API Exchange (APIX) platform, and up to S $10000 for each subsequent proof of concept. During the fund plan period, each financial technology company will receive a subsidy of up to S $80000. Enterprise development support programs enable these enterprises to continue to work with financial institutions to innovate and create growth opportunities. The Corporate Development support Program will be co-funded by the Monetary Authority of Singapore.
In addition, the Enterprise Development support Program (BGG) will provide enterprises with a salary subsidy of up to S $1000 per month for undergraduate interns. The program will support about 120 interns in the field of financial technology, provide internship subsidies for a period of 3-5 months, and further encourage financial technology companies to continue to provide internships and develop a local pool of financial technology talents.
Financial technology companies that meet the application criteria can apply for both the Enterprise support Allowance and the Enterprise Development support Plan. The Singapore Financial Technology Association will manage and review the application.
According to Leidi, AMTD International implements a "same share, different rights" structure. Its parent company, Shangcheng Group, is the controlling shareholder, holding 178757001 B shares, accounting for 72.8% of AMTD International's total share capital and 95.9% of the voting rights.
AMTD International also has a rich and diversified shareholder structure, including Li Jiajie, chairman of Henderson Group.Development of the far EastThe chairman of the group, the family of Datuk Qiu DachangSun hung Kai co.Chairman Li Chenghui family, chairman of Regal Hotels Group Luo Xurui family, "father of red chips" Leung Po-Tao, Star Media andPCCWCo-founder Chen Zhenxiang and other Hong Kong tycoons, as well as Hong Kong's largest asset management company (Value Partners), Morgan Stanley private equity fund (MSPE) and other investment institutions.
XIAOMI Company,With Cheng Yilong、Cat's eye entertainmentAnd other new economy companies are also shareholders of AMTD International. Qiu Huawei, the third generation successor of the Hong Kong tycoon family far East Development Group, is also vice chairman of the board of directors of AMTD International.
AMTD International was listed on the New York Stock Exchange in August 2019 and was the first Hong Kong financial institution group to be listed in the United States.
In December 2019, AMTD International announced the issuance of new shares and convertible notes at US $8.45 per share. It is one of the few listed companies that have completed the IPO in less than half a year after listing, and the IPO price is higher than the IPO price.
In April 2020, AMTD International completed his secondary listing on the main board of the Singapore Stock Exchange, becoming the first company in history to be listed on both the New York Stock Exchange and the Singapore Stock Exchange, and the first listed company in Singapore with different rights. By far the largest Chinese financial institution listed in Singapore by market capitalization.