Author: Deal Street Asia Online News

Thai food delivery startup Line Man Wongnai seeks funding, eyes IPO …

Thai food delivery startup Line Man Wongnai said on Friday it was seeking investors to help grow the company and expand its domestic reach, after seeing a big jump in transactions due mainly to coronavirus curbs. “We are in fundraising mode,” chief executive Yod Chinsupakul told Reuters, adding that its current round would be open for “two… Continue reading Thai food delivery startup Line Man Wongnai seeks funding, eyes IPO …

Indonesian ecommerce GMV grows 91% to reach $40.1b in 2020

Indonesian e-commerce players crossed major milestones in 2020. Most significantly, the Gross Merchandise Value (GMV) of major players grew 91% year-on-year to $40.1 billion last year, according to Momentum Works research recent study on Indonesian e-commerce. E-commerce as a share of overall retail rose to 20% — a historical high. This is a major leap… Continue reading Indonesian ecommerce GMV grows 91% to reach $40.1b in 2020

Vision Fund II backs AInnovation and other deal updates from Greater China …

ResearchPremium Artificial intelligence startup AInnovation on Thursday announced it has closed a Series D round of financing after raising an undisclosed sum from SoftBank’s Vision Fund II.  Based on computer vision and machine learning, AInnovation integrates its three proprietary platforms – ManuVision, MatrixVision and Orion – to help industries achieve AI-driven operations across retail, manufacturing,… Continue reading Vision Fund II backs AInnovation and other deal updates from Greater China …

Asia Digest: Korea’s ESR Kendall, PGIM Real Estate acquire logistics assets 

ESR Kendall Square REIT and New York-based PGIM Real Estate have struck deals to acquire logistics assets. ESR Kendall acquires logistics facility for $145m Korea’s industrial real estate investment trust, ESR Kendall Square REIT, has completed the acquisition of a modern logistics facility in the greater Seoul suburban market for $145 million, according to an… Continue reading Asia Digest: Korea’s ESR Kendall, PGIM Real Estate acquire logistics assets 

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