Author: Deal Street Asia Online News

Japan’s DMM Bitcoin says it lost over $300m cryptocurrency in ‘unauthorised leaks’

Japan’s cryptocurrency exchange DMM Bitcoin said on Friday that it had lost 4,502.9 bitcoin, worth about 48.2 billion yen or $308 million, in what the company called an “unauthorised leak”. It gave no details of how the incident occurred or whether an outside party had been involved, but said it was investigating and had restricted some services in response. Cryptocurrency companies are frequent targets for… Continue reading Japan’s DMM Bitcoin says it lost over $300m cryptocurrency in ‘unauthorised leaks’

Japanese whisky-maker Suntory said in early talks to acquire Boston Beer

Japanese whisky-maker Suntory Holdings is in talks to acquire U.S. brewer Boston Beer, known for its Samuel Adams brand, the Wall Street Journal reported on Friday, citing people familiar with the matter. Boston Beer said it was aware of the media report. “We do not comment on rumors. We are fully focused on our business… Continue reading Japanese whisky-maker Suntory said in early talks to acquire Boston Beer

China fines Evergrande’s flagship unit $577m for fraudulent bond issuance

China has fined China Evergrande’s onshore flagship unit 4.18 billion yuan ($577 million) for fraudulent bond issuance and illegal information disclosure, the China Securities Regulatory Commission (CSRC) said on Friday. The regulator also fined Evergrande founder Hui Ka Yan 47 million yuan and barred him from the securities market for life, according to a statement. The unit, Hengda Real Estate first revealed the planned penalties in a March filing, after… Continue reading China fines Evergrande’s flagship unit $577m for fraudulent bond issuance

South Korea pension fund to increase investments in alternative assetsBy 2029-end, the NPS will allocate 55% of its total assets to stocks, 30% to bon…

South Korea’s national pension fund will continue to raise the ratio of risky assets and increase alternative investments, the welfare ministry said on Friday. The ministry announced this in a statement after an annual review of five-year portfolio management plans, at which it kept target ratios for each asset class and target investment returns, unchanged… Continue reading South Korea pension fund to increase investments in alternative assetsBy 2029-end, the NPS will allocate 55% of its total assets to stocks, 30% to bon…

Not the right time for IPOs, say Vietnam’s tech unicornsFounders emphasised a well-prepared and sustainable path to public listing rather than pursuin…

Vietnam’s tech unicorns seem to be in no rush to get listed in the current market environment. At Tech In Asia’s Saigon Summit on Thursday, prominent names such as VNG and VNLIFE emphasised a well-prepared and sustainable path to public listing rather than pursuing an initial public offering (IPO) at any cost. VNG withdrew its… Continue reading Not the right time for IPOs, say Vietnam’s tech unicornsFounders emphasised a well-prepared and sustainable path to public listing rather than pursuin…

Chinese retailer Suning.com to raise $68m for its smart retail arm

Suning Retail Cloud, a smart retail subsidiary of Chinese retailer Suning.com, is raising up to 480 million yuan ($67.7 million) in debt financing to fund its business pivot as the parent group struggles to turn a profit. Suning Retail Cloud, a platform providing Suning.com stores with supply-chain, logistics, financial, and employee management solutions, is raising… Continue reading Chinese retailer Suning.com to raise $68m for its smart retail arm

Crypto ‘re-staking’ platforms boom as traders chase bigger returns

More than $18 billion worth of cryptocurrency has moved into a new type of platform which offers investors rewards in exchange for locking up their tokens, in a complex scheme that analysts warn poses a risk for users and the crypto market. The soaring popularity of so-called “re-staking” is the latest sign of risk-taking in crypto markets as prices rally… Continue reading Crypto ‘re-staking’ platforms boom as traders chase bigger returns

Vietnam’s Vinfast to roll out six dealerships in Philippine foray

Vietnamese electric vehicle maker VinFast is opening six dealerships to sell cars, e-scooters and e-bikes in the Philippines, its newest market in Southeast Asia, a company executive said on Friday. “We come to the Philippine market with good quality product and accessible price,” VinFast Philippines CEO Nguyen Thi Minh Ngoc told reporters during the company’s launch of four electric cars and two-wheeled electric vehicles (EVs)… Continue reading Vietnam’s Vinfast to roll out six dealerships in Philippine foray