In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading Alibaba squeezed by crackdown as JD.com and Pinduoduo pounce
Author: Deal Street Asia Online News
Indonesian logistics firm J&T Express mulls shifting IPO venue to HK: Report …
Indonesian last-mile logistics company J&T Express is exploring the possibility of shifting its initial public offering (IPO) venue from the US to Hong Kong, according to a Bloomberg report. The Indonesian unicorn, which is backed by Chinese investors, is said to be looking to raise $1 billion in its IPO targeted next year, the report… Continue reading Indonesian logistics firm J&T Express mulls shifting IPO venue to HK: Report …
ComfortDelGro JV lands $837m contract to operate rail services in New Zealand
Mainboard-listed transport company ComfortDelGro Group has been awarded a S$1.13-billion ($836.5 million) contract to operate rail services in Auckland, New Zealand, according to a press statement. The Singapore-based group will operate the rail services through its joint venture with Australian rail operator and maintenance company UGL Rail Services, called Auckland One Rail (AOR), in which… Continue reading ComfortDelGro JV lands $837m contract to operate rail services in New Zealand
India’s Maharashtra state to launch another VC fund to invest in startups
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China’s top social media platforms to “rectify” financial self-media accounts
China’s top social media platforms, Wechat, Douyin, Sina Weibo and Kuaishou, said on Saturday they would begin to rectify irregular practices of “self-media” accounts that publish financial information, reported state media Global Times. This follows an announcement by China’s cyberspace regulator, the Cyberspace Administration of China (CAC), that it would look into accounts that have repeatedly released financial news illegally,… Continue reading China’s top social media platforms to “rectify” financial self-media accounts
Indian SaaS unicorn Freshworks files for $100m US IPO F…
The 11-year old software-as-a-service (SaaS) startup has appointed Morgan Stanley, J.P.Morgan, BofA Securities, Jeffries and Barclays as book managers to the IPO, among others. Freshworks joins the growing list of Indian unicorns which are making a beeline towards public markets. These include financial services major Paytm, insurtech player PolicyBazaar and beauty marketplace Nykaa. Merchant fintech… Continue reading Indian SaaS unicorn Freshworks files for $100m US IPO F…
Chinese authorities deem ‘996’ overtime policy illegal …
China’s Supreme People’s Court said the overtime practice of “996“, working 9 a.m. to 9 p.m. six days a week, is illegal, taking aim at the controversial policy that is common among many Chinese technology firms. China’s top court and the Ministry of Human Resources and Social Security on Thursday published guidelines and examples on… Continue reading Chinese authorities deem ‘996’ overtime policy illegal …
Indonesia seizes land, other assets linked to 1998 bailouts
Indonesian authorities have seized 5.3 million sqm (530 hectares) of land and property assets in several cities, as part of efforts to recoup unpaid state loans given to banks during the Asian financial crisis in 1998, a minister said. The land was used as collateral for bailouts and included 251,992 sqm (25.2 hectares) in Tangerang,… Continue reading Indonesia seizes land, other assets linked to 1998 bailouts
SE Asia tech dealmaking booms as investors place post-COVID bets
Fintech and e-commerce companies in Southeast Asia are raising hefty amounts of capital as global investors bet on post-pandemic technology plays, bankers and investors said, a trend that is also stoking concerns about frothy valuations. Public equity capital raising by Southeast Asian firms has surged to a four-year high of $8.4 billion this year, data from Refinitiv shows, with… Continue reading SE Asia tech dealmaking booms as investors place post-COVID bets
China Digest: HK’s DayDayCook agrees to SPAC merger; Primavera sets up US office
Hong Kong’s DayDayCook will merge with a blank-cheque firm to go public in the US, while Primavera Capital Group has officially established its US office. HK-based DayDayCook heads to Nasdaq via SPAC DayDayCook, a Hong Kong-based online cooking community platform backed by Alibaba, has agreed to merge with a special purpose acquisition company (SPAC) to go… Continue reading China Digest: HK’s DayDayCook agrees to SPAC merger; Primavera sets up US office