Y Ventures may be the first, but it is not the only public firm in the city state looking to venture into the ICO space. Public entertainment company Spackman also said in February that it aims to issue a cryptocurrency called K Coin in an effort to raise funds for its celebrity business. It has not yet made any announcement about a formal launch, however. Aside from directly conducting token sales themselves, some public firms in Singapore are also acquiring or managing projects that deal with ICOs as another route into the cryptocurrency space.

https://www.coindesk.com/public-firm-becomes-first-to-launch-an-ico-in-singapore/