December 24, 2018 China released new rules promising to treat all firms equally from a regulatory standpoint, whether they are foreign, private Chinese companies or state-owned enterprises. The new rules, which go into effect immediately, contain a “negative list” of four banned types of business, and a further 147 categories where government permits are needed.… Continue reading China unveils new rules to treat state, private and foreign firms equally
Author: Deal Street Asia Online News
Alibaba-backed SingPost to deploy LogiNext tech to boost last-mile delivery
December 13, 2018 Alibaba-backed Singapore Post Limited (SingPost) is partnering with LogiNext, a cloud-based logistics optimisation company, to boost its last-mile delivery services. As part of the exercise, SingPost will introduce artificial intelligence to its next-generation regional logistics platform, LaMP, using LogiNext’s technology in a move that will provide parcel traceability and reliability for customers… Continue reading Alibaba-backed SingPost to deploy LogiNext tech to boost last-mile delivery
Khazanah-backed AR startup Blippar to face insolvency: Report
December 10, 2018 London-based augmented reality startup Blippar is said to be facing administration and is “on the brink of collapse” after a dispute between its investors, British luxury property developer Nick Candy and Malaysia’s sovereign wealth fund Khazanah Nasional Bhd. A report by The Times said Khazanah has blocked an emergency fundraising by the… Continue reading Khazanah-backed AR startup Blippar to face insolvency: Report
SoftBank Vision Fund makes $500m investment in Cambridge Mobile Telematics
December 20, 2018 SoftBank Vision Fund (SBVF) has made a $500-million investment in global mobile telematics and analytics provider Cambridge Mobile Telematics, according to a company statement. Headquartered in Cambridge, MA, CMT aims to improve the safety of people and goods using mobile sensing and IoT, AI, and behavioural science. The company claims to have pioneered… Continue reading SoftBank Vision Fund makes $500m investment in Cambridge Mobile Telematics
Shell acquires 49% stake in Singapore-headquartered Cleantech Solar
December 19, 2018 Royal Dutch Shell has agreed to acquire a 49 percent stake in Asia-focused firm Cleantech Solar, the energy giant’s second investment in solar power this year. The Anglo-Dutch company will have an option to increase its holding in Cleantech after 2021. The deal is expected to close in January 2019. Cleantech Solar develops, owns… Continue reading Shell acquires 49% stake in Singapore-headquartered Cleantech Solar
China’s Geely-owned Saxo to buy Dutch online lender BinckBank for $480m
December 17, 2018 Saxo Bank is to buy Dutch online bank BinckBank for around $480 million to expand in the online trading and investment business where competition is heating up. Traditional banks are having to compete with fintech startups, new payment providers and large internet platforms like Amazon venturing into the payment industry. In addition,… Continue reading China’s Geely-owned Saxo to buy Dutch online lender BinckBank for $480m
Vietnam: Vingroup sets up new subsidiary Vingroup Ventures, hires CEO
December 14, 2018 Vietnam’s listed Vingroup has established Vingroup Ventures, a 70 per cent-owned subsidiary, with the registered business operation of consultancy and support services. Vingroup has made a spate of announcements recently to boost technology development, including setting up a software unit VinTech, big data and hi-tech R&D centres, partnership with over 50 universities… Continue reading Vietnam: Vingroup sets up new subsidiary Vingroup Ventures, hires CEO
India’s Motherson Sumi in early merger talks with German peer Leoni
December 14, 2018 Indian car wiring maker Motherson Sumi Systems Ltd is in early talks with German peer Leoni AG over a possible merger of the pair, two people close to the matter said. The car industry and its suppliers, facing a regulatory crackdown on diesel emissions and a slump in China, have issued a… Continue reading India’s Motherson Sumi in early merger talks with German peer Leoni
Vingroup acquires 51% in Spanish hardware firm BQ to make smartphones
December 12, 2018 Vingroup, the Vietnam-based $14.2-billion conglomerate, has acquired 51 per cent stake in Spanish consumer electronics devices maker BQ to produce its new line of smartphones. The Vsmart-branded phones will be introduced on Friday, only six months after the business giant announced the establishment of its VinSmart subsidiary. Vingroup and BQ will jointly… Continue reading Vingroup acquires 51% in Spanish hardware firm BQ to make smartphones
Thailand: Indorama Ventures to acquire German airbag maker UTT
December 12, 2018 Bangkok-based petrochemical producer Indorama Ventures Pcl (IVL) has entered into an agreement to acquire airbag yarns and technical textiles supplier UTT Beteiligungsgesellschaft mbH. Financial terms of the deal were not disclosed. IVL on Tuesday said in a filing to the Stock Exchange of Thailand that UTT will be acquired by PHP Fibers,… Continue reading Thailand: Indorama Ventures to acquire German airbag maker UTT