Daily Briefing: HOOQ files for liquidation; 2,300 students ask to return from overseas placement amidst COVID-19

And Switzerland-based software firm Netcetera opened its first office in Singapore.

From DealStreetAsia:

Video streaming service HOOQ Digital, owned by Singapore Telecommunications Ltd, said it was filing for liquidation as it had not been able to grow sufficiently to provide sustainable returns nor cover escalating costs.

HOOQ started as a joint venture in 2015 between Singtel, Sony pictures Television and Warner Bros Entertainment. However, it failed to make major gains due to larger rivals expanding in the region, such as Netflix Inc.

The liquidation is not expected to have any material impact on the net tangible assets or earnings per share of Singtel, the telecom operator said in a filing to stock the exchange. Singtel has an indirect 76.5% effective stake in HOOQ.

From Channel News Asia:

About 2,300 students in the Autonomous Universities and polytechnics have been asked to return from their official overseas placements “as soon as practicable”, said the Ministry of Education (MOE).

A spokesperson for the education ministry said it was working closely with institutions and Singapore's overseas missions “to provide the necessary assistance and support for these students”.

“This includes providing advice and/or financial support to students who may need help with the cost of returning earlier than expected to Singapore,” said the ministry.

“Alternative learning arrangements will also be made available to these students so that they are able to meet their academic requirements, at no additional cost to them.”

MOE and the Institutes of Higher Learning (IHLs) announced on Mar 15 that all overseas placements, including internships and exchange programmes would be suspended until the end of July.

From iCompareLoan:

Swiss software company Netcetera has opened an office in Singapore.

The new location will reportedly help the company detect regional market trends and understand the local market.

Netcera offers digital solutions for payment, mobile banking, mobile contactless payment, digital wallet and 3-D services such as for secure online transactions.

Kiril Milev, who most recently is the managing director for the Middle East branch, has been appointed as the managing director in Singapore.

The company plans to expand further in the East through its want to advance further East with their highly secure and scheme-certified payment products.

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