SINGAPORE (Jan 7): Sea Limited, which started as an online gaming company, is going solo in its bid for a digital full bank licence here in Singapore, targeting millennials and SMEs.
The bid by the New York-listed company, marks the entry of yet another bidder which counts Temasek Holdings as an investor.
The other Temasek-linked bidders include a consortium formed by Grab and Singtel, a consortium that includes asset manager Heliconia Capital, and a consortium that includes Hong Kong-listed Sheng Ye Capital.
“As the largest US-listed internet company from Southeast Asia, we already have hard-wired in our operations the rigorous standards of corporate governance that will be essential to running a successful digital bank, and the robust financial strength to support our long-term commitment to this initiative,” says Forrest Li, chairman and group CEO of Sea.
