Singapore-based private securities platform ADDX said it has become the first financial firm in the city-state to recognise cryptocurrency in their assessment of assets of high-net worth clients. The move underscores the growing acceptance of digital currencies among financial services firms as they seek to tap a wide array of investors. ADDX, whose backers include Singapore Exchange, said in a statement on Wednesday that it would recognise only cryptocurrencies with a higher market value and would apply discount rates when valuing these assets.
Ismail Gafoor (centre) and the PropNex top management (Photo: Samuel Isaac Chua/EdgeProp Singapore)SINGAPORE (EDGEPROP) - Singapore-listed property agency PropNex reported earnings of $14.3 million for the 4Q2021 ended December, 90.5% higher than earnings of $7.5 million in the same period the year before.The quarter’s earnings have brought the SGX-listed property agency’s FY2021 earnings to $60.0 million, more than double the earnings of $29.1 million in the FY2020.Revenue for the 4QFY2021 grew
The U.S. economy created more than expected jobs in January, despite disruptions to consumer-facing businesses from a surge in COVID-19 cases, increasing the chance of a larger Federal Reserve interest rate rise at the March policy meeting. The Indonesia rupiah also weakened 0.1%, but held steady at that level as the country's fourth quarter gross domestic product growth accelerated 5%, slightly faster than expected, on the back of high commodity prices and the loosening of anti-virus curbs. Meanwhile, shares across the region were mixed, with China gaining strongly coming out of a week-long Lunar New Year break to rise about 2%, while Philippine stocks dipped about 1%, after rising nearly 3% last week.