Daily Briefing: Singaporeans may be allowed to enter Malaysia without restrictions; Kamet Capital Partners hires seven new people to manage assets

And hospitality startup K Hotel raises $2m in seed funding.

From Channel News Asia:

Singaporeans may be allowed to enter Malaysia without the need to undergo COVID-19 screening and home quarantine, but there should be a reciprocal arrangement for Malaysians, said Putrajaya.

Senior Minister Ismail Sabri Yaakob said that the Malaysian government has agreed to allow citizens from both Singapore and Brunei to visit freely provided the same flexibility is extended to Malaysians entering both countries.

Singapore is already categorised as a green zone by the Malaysian Health Ministry. However, Yaakon noted that this was on the condition that Malaysians would also be afforded the same privileges.

The decision is dependent on the outcome of discussions between the foreign ministries of both sides.

Read more here. 

From Bloomberg:

Singapore family office Kamet Capital Partners has hired seven new recruits as it tops $1.4b (US$1b) in assets for the wealthy clients it serves in Asia.

Kamet has hired seven people since April, bringing the total headcount to 25, whilst two more staff will be added by September, according to CEO Kerry Goh

Amongst the new recruits are Wilson Er, a portfolio manager from Rockpool Capital Ltd. in Hong Kong, and David Law, a money manager and analyst at Mizuho Asset Management in Singapore. Er, Law and two analysts join the investment team, whilst three others will help with administrative needs of the families, who are from China and Southeast Asia.

Kamet’s clients are mostly first-generation entrepreneurs of businesses that include technology, consumer goods and hospitality.

Read more here.

From e27:

Singapore-based hospitality firm K Hotel has raised $2m (US$1.4m) in seed funding led by private investor Noel Neo, according to an SGSME report.

Neo He has also joined the startup as its CFO. Several other individuals with a background in the real estate industry also co-invested.

The seed funds raised will be used to acquire new hospitality projects, including hotels and hostels, on master lease terms for two to six years, as well as capital expenditure for such properties.

The company also plans to secure $5m in their series A funding.

Read more here.