Singapore’s High Court has accepted a request to freeze up to $3.5 billion of worldwide assets of Lim Oon Kuin and his two children following the collapse of Lim’s oil trading firm Hin Leong Trading Pte Ltd, the company’s liquidators told creditors in an email reviewed by Reuters. Court-appointed liquidators of Hin Leong, the Lim family and their lawyers, did… Continue reading Singapore court approves move to freeze Hin Leong founder’s assets worth $3.5b
Author: Deal Street Asia Online News
AMTD Digital looks to raise $100m in NYSE IPO even as scrutiny tightens …
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 AMTD Digital looks to raise $100m in NYSE IPO even as scrutiny tightens …
Zomato, Swiggy resume food delivery services in Hyderabad
Zomato and Swiggy resumed food delivery services in Hyderabad on Sunday with 30% of their total delivery executive staff, after the Director-General of Police (DGP) instructed the Commissioners of Police to address grievances and ensure smooth delivery of essentials. After the lockdown was announced earlier this month, several delivery executives were stopped by the police… Continue reading Zomato, Swiggy resume food delivery services in Hyderabad
Bitcoin extends losses after China clamps down on mining, trading
Bitcoin extended losses on Friday afternoon, falling more than 11% after China doubled down on efforts to prevent speculative and financial risks by cracking down on mining and trading of the largest cryptocurrency. China‘s Financial Stability and Development Committee, chaired by Vice Premier Liu He, singled out bitcoin as the asset it needs to regulate more. The world’s largest and most popular cryptocurrency recently traded down 11.59% at $35,928 after holding… Continue reading Bitcoin extends losses after China clamps down on mining, trading
The complete list of who owns how much in Indonesia’s newly-minted tech giant GoTo …
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 The complete list of who owns how much in Indonesia’s newly-minted tech giant GoTo …
Indonesia’s anti-trust agency to scrutinise Gojek-Tokopedia merger …
Indonesia’s anti-trust agency (KPPU) on Thursday said it would scrutinise the multi-billion dollar merger of the country’s startups Gojek and Tokopedia to check for potential monopolistic behaviour. Ride-hailing and payments firm Gojek and e-commerce leader Tokopedia announced their merger earlier this week into a tech company GoTo in Indonesia’s largest-ever deal. The combined entity, which… Continue reading Indonesia’s anti-trust agency to scrutinise Gojek-Tokopedia merger …
Japanese satellite firm Axelspace raises $24m in Series C funding
Axelspace, one of Japan’s pioneers in microsatellite technology, announced raising $24 million in a Series C funding round from a slew of local venture investors. Sparx Innovation participated in the funding round through The Space Frontier Fund while Sumitomo Mitsui Trust Investment Co joined via its Japan Co-Invest III Limited Partnership. Japan Post Investment Group,… Continue reading Japanese satellite firm Axelspace raises $24m in Series C funding
SK Hynix looks to initiate talks to buy Korean chip contract manufacturer Key Foundry …
SK Hynix Inc, the world’s second-largest memory chip maker, has requestd talks to acquire South Korea-based Key Foundry, a chip contract manufacturer, a South Korean newspaper reported on Monday. SK Hynix has expressed intention to negotiate for the full acquisition of the 8-inch wafer foundry, Korea Economic Daily reported on Monday citing unnamed sources in the tech and investment… Continue reading SK Hynix looks to initiate talks to buy Korean chip contract manufacturer Key Foundry …
China’s state-owned Changan Automobile plans to list EV unit on STAR Market
Chinese state-run automaker Chongqing Changan Automobile plans to list its electric vehicle (EV) unit on Shanghai’s Nasdaq-style STAR Market, three sources briefed on the matter said, to fund a rapid expansion of its business. Changan, based in the southwestern city of Chongqing, holds 48.95% of the unit, which makes entry-level and mass-market electric vehicles. The… Continue reading China’s state-owned Changan Automobile plans to list EV unit on STAR Market
China’s EV ops platform DST nets $100m funding led by IKEA’s Ingka …
DST, a provider of charging and management solutions for new energy vehicles, has raked in $100 million in its Series C round led by Ingka Holding B.V., the parent company of Swedish furniture major IKEA. New investors SMRT Ventures and Runxin Xinguanxiang Industry Fund joined the round along with return backers Matrix Partners China and… Continue reading China’s EV ops platform DST nets $100m funding led by IKEA’s Ingka …