Singapore’s traditional business ventures are now expanding into the dot-com space.

Reading the Edge Singapore today and Asiaone, I noticed that Singapore eDevelopment, formerly CCM is aiming to be the next Tencent and Alibaba. This is a Singapore listed company (run by an Ex Wall Street Banker) and who is expanding the company into the Mobile Messaging space (think QQ Messenger/Line/Whatsapp).

This is a good development whereby technology companies are seen to be profitable companies by the financial sector and are officially listed so adding legitimacy to the sector. I think if not wrong this may be the first listed company (Other than Creative) to move into the technology space in a large way in Singapore.

Hopefully more of the established companies can set up technology arms and spin them off into large listed companies to boost the prestige and inspire another generation of Dot-Com Entrepreneurs in Singapore.

This is probably one of the first few Singapore Listco led Technology expansions in Singapore.