Toshiba Corp, facing a deepening crisis over corporate governance, said on Sunday it will change its board director nominees for an upcoming shareholder meeting, as two are stepping down. The shake-up follows an investigation that found the company had colluded with the Japanese government to pressure foreign investors, a revelation that its second-largest shareholder called the greatest corporate governance scandal in the world in the last… Continue reading Japan’s Toshiba changes board nominees as two step down in deepening crisis
Author: Deal Street Asia Online News
China’s crackdown on cryptocurrency spreads to Yunnan in southwest
China’s crackdown on cryptocurrencies has spread to the country’s southwest with a campaign against misuse of electricity by bitcoin miners in Yunnan province, local media reported on Saturday. In addition to concerns about the huge amounts of energy needed for the computing power to create cryptocurrencies, the central government is also concerned about speculation after a surge in the price of bitcoin. China… Continue reading China’s crackdown on cryptocurrency spreads to Yunnan in southwest
India’s Shriram Transport Finance raises $266m via QIP route
Auto finance company Shriram Transport Finance has raised close to ₹2,000 crore through its latest qualified institutions placement (QIP) issue. The issue opened on June 7 and closed on June 11, the company stated. “Securities Issuance Committee at its meeting held today i.e. June 12, 2021, has… approved the allotment of 13,986,000 Equity Shares of face… Continue reading India’s Shriram Transport Finance raises $266m via QIP route
India: Soma Comstar raises $333m from anchor investors ahead of IPO …
PowerGrid InvIT and SBI Cards raised ₹3480 crore and ₹2769 crore, respectively, from anchor investors. The auto components major allocated 8.6 crore shares at ₹291 apiece to 42 anchor investors, aggregating the total to ₹2,498 crore, according to a circular uploaded on the BSE website. Government of Singapore Investment Corporate (GIC) and Monetary Authority of Singapore (MAS) together… Continue reading India: Soma Comstar raises $333m from anchor investors ahead of IPO …
SEA Digest: Fatfish buys BNPL Next; Foodpanda partners robotics startups …
Fatfish Group has acquired BNPL Next Limited for A$4.14 million ($3.2 million) while Foodpanda has partnered with three autonomous robot startups to advance the progress of driverless deliveries in Singapore. Fatfish Group acquires BNPL Fatfish Group Limited (FGL), an ASX-listed tech venture firm, has acquired BNPL Next Limited for a consideration of A$4.14 million ($3.2… Continue reading SEA Digest: Fatfish buys BNPL Next; Foodpanda partners robotics startups …
Corporates join institutional VCs in trying to fix Malaysian startups’ funding constraints
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 Corporates join institutional VCs in trying to fix Malaysian startups’ funding constraints
Volkswagen, Ford to exit auto finance business in India
The auto financing arms of Volkswagen AG and Ford Motor Co plan to stop giving new credit to car buyers and dealers in India and will exit from the country, sources aware of the development told Reuters. Volkswagen Finance Private Ltd, the German carmaker’s finance arm, stopped giving loans to car buyers in India last year and… Continue reading Volkswagen, Ford to exit auto finance business in India
PUBG-maker Krafton seeks to raise over $5b in Korea IPO
Krafton, the company behind blockbuster video game PlayerUnknown’s Battlegrounds (PUBG), will launch its IPO early next week in what could be South Korea’s largest listing in 11 years, people familiar with the matter said. The Tencent-backed company aims to raise at least $5 billion in the initial public offering (IPO) by selling 20% of its… Continue reading PUBG-maker Krafton seeks to raise over $5b in Korea IPO
India investigates Binance unit for crypto transactions violating forex rules …
India’s financial crime-fighting agency said on Friday that WazirX, one of country’s largest cryptocurrency exchanges, was under investigation for suspected violation of foreign exchange regulations involving transactions worth 27.90 billion rupees ($381.93 million). The federal Enforcement Directorate revealed the launch of the investigation in a tweet. WazirX – which was acquired in 2019 by Binance, the… Continue reading India investigates Binance unit for crypto transactions violating forex rules …
India court deals blow to Amazon, Flipkart in antitrust case
An Indian court dismissed pleas on Friday by Amazon.com Inc and Walmart’s Flipkart to quash an antitrust investigation into the business practices of the U.S. firms, dealing them a blow in their key growth market. The Competition Commission of India (CCI) announced its investigation in January 2020 after a trader group’s complaint accused the firms… Continue reading India court deals blow to Amazon, Flipkart in antitrust case