STOCKS | Staff Reporter, Singapore

Daily Briefing: Sea sets aggressive expansion; FairFax Asia tries Singapore Reinsurance takeover

And Manpower Singapore, Nala Employment and Cornerstone Global Partners are the best Singapore job sites for employers.

From ChannelNewsAsia

Singapore-based tech group Sea expands in Indonesia with its food delivery and financial services. This opens up the company to more than 400 million internet users in Southeast Asia's digital economy, estimated to triple by 2025 to US$309b.

As Sea's stock rally, rivals are pressured into seeking public listings, according to bankers and executives familiar to the topic.

The US-listed company operates e-commerce platform Shopee, and is expanding its ShopeeFood service.

Read more here.

From DealstreetAsia

Singapore Reinsurance Corp, a general reinsurance underwriter, has receieved a takeover offer from Fairfax Asia, a subsidiary of Canadian-listed Fairfax Financial Holdings.

The offer is for all the shares Fairfax does not currently own, approximately 71.82% of what Singapore Reinsurance issued, at $0.3535 per unit.

Fairfax, should it gain majority control, does not intend to preserve Singapore Reinsurance's listing.

Read more here.

From HumanResources Online

Manpower Singapore topped the rankings for best Singapore-based job site for employers, based on the HR Vendors of the Year 2020 awards. This was followed by Nala Employment and Cornerstone Global Partners.

Online recruitment portals have shortened pre-screening times and have helped curtail cultural bias in hiring.

Read more here.

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