Author: Deal Street Asia Online News

Serba Dinamik independent directors express concern over audit matters

Independent non-executive directors at Malaysia’s Serba Dinamik Holdings Bhd have expressed shared concern over issues flagged by the company’s auditor. In a statement on Thursday, the directors said the oil and gas services company’s management, together with the board, is taking steps to resolve matters and will appoint an independent firm to assess the issues “independently and… Continue reading Serba Dinamik independent directors express concern over audit matters

Meituan founder donates $2.27b worth shares as charity grips Chinese billionaires

The founder of food delivery giant Meituan will donate shares worth about $2.27 billion to his personal charity, a stock exchange filing late on Thursday showed, making him the latest Chinese tech billionaire to make such a gesture. The donation of shares by Chief Executive Wang Xing comes as Meituan and other so-called platform economy companies have come under… Continue reading Meituan founder donates $2.27b worth shares as charity grips Chinese billionaires

Biden order bans US investment in dozens of Chinese defence, tech firms

President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors. The move, which his administration says expands the scope of a legally flawed Trump-era order, drew anger from Beijing. The Treasury Department will enforce and update on a… Continue reading Biden order bans US investment in dozens of Chinese defence, tech firms

China’s Oceanpine Capital closes RMB fund at $313m for deep tech bets …

Chinese investment firm Oceanpine Capital has closed a new RMB-denominated fund at 2 billion yuan ($313.4 million) as it seeks to up the ante on deep technology investments. The fund was closed within three months of its launch, Oceanpine said in a WeChat post on Wednesday. The new vehicle secured commitments from local government-guided funds,… Continue reading China’s Oceanpine Capital closes RMB fund at $313m for deep tech bets …

Chinese precision medical firm Simcere bags $94m Series B from CITIC, others

China’s Jiangsu Simcere Pharmaceutical Group Limited announced on Friday that it has completed raising nearly 600 million yuan ($94 million) in a Series B round of financing co-led by state-backed conglomerate CITIC Group’s CITIC Securities and CITIC Medical & Health. New investors who participated in the round include Yingke PE, Hosencare Brothers, GP Capital, Shanghai… Continue reading Chinese precision medical firm Simcere bags $94m Series B from CITIC, others

Three years after exit, SoftBank in talks to invest $700m in Flipkart at $28b valuation

The transaction, the second person said, could value Flipkart at as much as $30 billion, depending on the final set of investors. Prosus Ventures, the investment arm of South African conglomerate Naspers, and other existing investors could raise their stakes, the people said. The transaction will precede a proposed listing of the Indian e-commerce giant, slated to… Continue reading Three years after exit, SoftBank in talks to invest $700m in Flipkart at $28b valuation

Startup exits in SE Asia slowed down in COVID-hit 2020, but next few years look promising

COVID-marred 2020 was a difficult period for startup exits — M&As, IPOs, and secondary sales — in Southeast Asia, but the next 3-4 years look promising, according to the SE Asia Exit Landscape Report 2.0 by Golden Gate Ventures and INSEAD released on Thursday. There were 107 exits in the region last year — a… Continue reading Startup exits in SE Asia slowed down in COVID-hit 2020, but next few years look promising