Author: Deal Street Asia Online News

Controlling shareholder plans to take Malaysia’s MMC Corp private

Malaysia’s MMC Corporation Bhd has received a letter from its controlling shareholder seeking to privatise the company via a selective capital reduction and repayment exercise of 2.94 billion ringgit ($714 million), a stock exchange filing on Thursday showed. Under the proposal, MMC‘s largest shareholder Seaport Terminal (Johore) Sdn Bhd, seeks to cancel all shares held by other shareholders… Continue reading Controlling shareholder plans to take Malaysia’s MMC Corp private

State-owned Vietnam Airlines plans to sell 11 Airbus planes to shore up its finances

Vietnam Airlines plans to sell 11 Airbus A321 aircraft through an auction, as the Southeast Asian country’s flag carrier struggles with the economic fallout of the coronavirus pandemic. The airline, which is 86% owned by the government, said in an announcement posted on its website this week that interested buyers could submit bids by June 29.… Continue reading State-owned Vietnam Airlines plans to sell 11 Airbus planes to shore up its finances

Indonesia’s Bukalapak looking to raise at least $300m from its domestic IPO …

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 Indonesia’s Bukalapak looking to raise at least $300m from its domestic IPO …

American VC firm Kleiner Perkins leads $17m funding in Pakistani B2B marketplace Tajir

Gobi Partner-backed Tajir, a Pakistani B2B marketplace for mom and pop stores, has raised $17 million in a Series A round led by American venture capital firm Kleiner Perkins, according to an announcement. The funding marks the first investment by Kleiner Perkins in Pakistan. Other investors in the round include YC Continuity, AAVCF, Fatima Gobi… Continue reading American VC firm Kleiner Perkins leads $17m funding in Pakistani B2B marketplace Tajir

Softbank-backed Indian mobility firm Ola appoints two new CFOs

Arun Kumar brings more than two decades of experience in finance and strategy, including managing business growth and turnaround, large scale debt and equity capital market benchmark transactions, governance and reporting and compliance with corporate multinationals including Vedanta Resources, GE and Hindustan Unilever. With his experience in leading large-scale supply chain teams, delivering sales and… Continue reading Softbank-backed Indian mobility firm Ola appoints two new CFOs

Indian PE firm Actis promotes Abhishek Bansal to partner

Bansal, an engineering graduate from IIT Kanpur and an MBA graduate from IIM Calcutta, earlier worked at International Finance Corporation for seven years. Actis has also promoted Nicolas Escallon, another director in its energy infrastructure team, to the position of a partner. According to a statement from Actis, Bansal “has played a key role in… Continue reading Indian PE firm Actis promotes Abhishek Bansal to partner

US PE firm HarbourVest sets up office in Singapore

Boston-based private markets asset manager HarbourVest Partners has announced the opening of its office in Singapore, expanding the firm’s footprint to 11 locations worldwide.  The Singapore office will be overseen by the regional head and HarbourVest managing director Hemal Mirani, alongside investment professionals focused on primary, secondary and co-invest strategies.  Hemal oversees the firm’s operations… Continue reading US PE firm HarbourVest sets up office in Singapore

Indian B2B marketplace OfBusiness in fundraising talks with SoftBank …

Late last month, the Japanese company’s SoftBank Vision Fund 2 had led a $250 million funding round in banking technology startup Zeta, catapulting the Bhavin Turakhia-led firm’s valuation to $1.45 billion. Other recent bets in India from the fund include social commerce platform Meesho, eyewear brand Lenskart and edtech firm Unacademy. OfBusiness was founded in… Continue reading Indian B2B marketplace OfBusiness in fundraising talks with SoftBank …

Singapore VC Good Startup hits first close of protein fund at $25m

Singapore-based venture capital firm Good Startup has raised $25 million in the first close of its Good Protein Fund I that will be used to invest in alternative protein companies worldwide. Investors in the new fund are exclusive individual investors and family offices, the firm said in a press statement. The firm secured commitments from Symphony… Continue reading Singapore VC Good Startup hits first close of protein fund at $25m