Author: Deal Street Asia Online News

Indian software firm Zoho plans $700m foray into chipmaking

Indian software firm Zoho is planning a foray into chipmaking and seeking incentives from the federal government, two sources with direct knowledge of the proposal said, with one of them pegging the investment plan at $700 million. Zoho, established in 1996 and now headquartered in India’s Tamil Nadu, offers software and related services on subscription to businesses in 150 countries, competing with the likes… Continue reading Indian software firm Zoho plans $700m foray into chipmaking

Chinese retailer JD.com reports Q1 revenue above estimates

Chinese online retailer JD.com on Thursday reported first-quarter revenue that beat market estimates, as deep price cuts helped boost sales that had been hit hard by cautious customer sentiment. U.S.-listed shares of the company rose about 3.5% in premarket trading. JD.com and bigger rival Alibaba Group have been lowering prices and offering discounts to maintain… Continue reading Chinese retailer JD.com reports Q1 revenue above estimates

India’s Mahindra to invest $1.44b in EV unit, SUV sales help beat Q4 profit estimates

Indian automaker Mahindra & Mahindra will invest 120 billion rupees ($1.44 billion) in its electric vehicles unit, it said on Thursday, as the company beat fourth-quarter profit estimates on steady sales of its sports utility vehicles (SUVs). The company also said it will sell some assets associated with its EV car business to the electric… Continue reading India’s Mahindra to invest $1.44b in EV unit, SUV sales help beat Q4 profit estimates

India’s market regulator open to oversight of crypto trade

India’s market watchdog has recommended that several regulators oversee trade in cryptocurrencies, documents show, the strongest signal to date that at least some authorities in the country are open to allowing the use of private virtual assets. The position of the Securities and Exchange Board of India (SEBI) contrasts with that of the Reserve Bank of India (RBI), which maintains that private digital currencies represent… Continue reading India’s market regulator open to oversight of crypto trade

SG’s Golden Gate Ventures hits first close of $100m MENA fund Golden Gate Ventures partner Michael Lints has relocated to Qatar to oversee this expans…

Southeast Asian venture capital firm Golden Gate Ventures has hit the first close of its $100-million debut Middle East and North Africa (MENA) fund. It secured $20 million from anchor investors, Al Khor Holding and Al Attiya Group, both Qatari family-controlled conglomerates with businesses in areas like real estate, manufacturing and brands, as well as… Continue reading SG’s Golden Gate Ventures hits first close of $100m MENA fund Golden Gate Ventures partner Michael Lints has relocated to Qatar to oversee this expans…

China’s Nio launches Onvo brand to challenge Tesla’s best-selling modelThe Onvo L60 SUV sticker price starts from 219,900 yuan ($30,476), 12% below th…

Chinese electric vehicle maker Nio on Wednesday launched the first vehicle in its new lower-priced brand Onvo which aims to compete there with Tesla‘s Model Y, the world’s best-selling EV. Nio unveiled the Onvo L60 SUV with a sticker price starting from 219,900 yuan ($30,476), 12% below the price of Tesla’s Model Y which starts at 249,900 yuan… Continue reading China’s Nio launches Onvo brand to challenge Tesla’s best-selling modelThe Onvo L60 SUV sticker price starts from 219,900 yuan ($30,476), 12% below th…

Brookfield India REIT acquires 50% stake in Bharti Enterprises assets for $718m

Brookfield India Real Estate Trust (BIRET) has acquired a 50% stake in four Grade A assets from Bharti Enterprises for an enterprise value of Rs 6,000 crore ($718 million), per an announcement on Thursday. The total equity consideration for the 50% stake will be fulfilled through a preferential allotment of units in BIRET to Bharti,… Continue reading Brookfield India REIT acquires 50% stake in Bharti Enterprises assets for $718m

Malaysia’s Ekuinas invests $7.9m in local agricultural machinery firm Mizou

Malaysian government-linked private equity company Ekuiti Nasional Berhad (Ekuinas) has announced an investment of 37 million ringgit ($7.9 million) in Mizou Holdings (Mizou), a local company specialising in agricultural machinery for the upstream palm oil sector. Ekuinas said the investment is part of its 100 million ringgit ($21 million) Dana Asas fund, which focuses on… Continue reading Malaysia’s Ekuinas invests $7.9m in local agricultural machinery firm Mizou

Chinese art marketplace Tyfon to go public via $434m SPAC dealEarlier this month, Chinese electric vehicle maker Zeekr’s shares also debuted on the NY…

Chinese art marketplace Tyfon Culture has agreed to list its shares on the Nasdaq through a merger with a special purpose acquisition company that values the combined entity at $434 million, the firms said on Wednesday. The company is among a number of Chinese firms looking to list in the United States as the market for new… Continue reading Chinese art marketplace Tyfon to go public via $434m SPAC dealEarlier this month, Chinese electric vehicle maker Zeekr’s shares also debuted on the NY…