Author: Deal Street Asia Online News

Grab reports 24% rise in revenue, lowers operating loss in Q1 2024

Southeast Asian super app Grab Holdings Ltd recorded a 24% increase in its revenue in the first three months of 2024, backed by growing on-demand gross merchandise value (GMV), and lower operating loss after booking its first quarterly profit in Oct-Dec 2023. In its statement, the Nasdaq-listed company said its revenue grew 24% year-on-year to… Continue reading Grab reports 24% rise in revenue, lowers operating loss in Q1 2024

Axiata, Sinar Mas confirm talks for $3.45b Indonesian telecom mergerAxiata and Sinar Mas have entered into a non-binding agreement.

Malaysia’s Axiata and conglomerate Sinar Mas are in talks to merge their telecommunications operations in Indonesia to create an about $3.45 billion entity, the Malaysian firm said on Wednesday, as it seeks to tap into the growing demand in the local telecom sector. Bloomberg News had reported in late April that the owners of PT… Continue reading Axiata, Sinar Mas confirm talks for $3.45b Indonesian telecom mergerAxiata and Sinar Mas have entered into a non-binding agreement.

Chinese EV maker Aiways to go public in US via SPAC mergerAiways is among a group of struggling Chinese EV startups that have suspended operations ami…

Chinese electric vehicle maker Aiways will go public via a merger with U.S. special purpose acquisition company Hudson Acquistion Corp in a deal that should value the company around $400 million, the two companies said. The deal is a lifeline for Aiways, which halted production at its Shangrao plant last summer as a fierce EV… Continue reading Chinese EV maker Aiways to go public in US via SPAC mergerAiways is among a group of struggling Chinese EV startups that have suspended operations ami…

Mekong Capital invests $5m in Cambodian biofertiliser firm HUSK

Vietnam-focused private equity firm Mekong Capital has announced a $5-million investment in HUSK, a biochar and biofertiliser company engaged in regenerative agriculture practices in Southeast Asia. Mekong’s investment in the firm is through its Mekong Enterprise Fund IV (MEF IV) vehicle, according to a statement. Founded in 2017 by two female entrepreneurs, Heloise Buckland and Carol… Continue reading Mekong Capital invests $5m in Cambodian biofertiliser firm HUSK

Malaysia Airports to be taken private by consortium led by Khazanah, EPF

A consortium led by Malaysia’s sovereign wealth fund Khazanah Nasional and pension fund provider Employees Provident Fund (EPF) announced a conditional offer on Wednesday to acquire all remaining shares in Malaysia Airports Holdings Berhad (MAHB) that it did not already own. The consortium’s shareholders also comprise a subsidiary of the Abu Dhabi Investment Authority and… Continue reading Malaysia Airports to be taken private by consortium led by Khazanah, EPF

Accion launches $152.5m fund to back financial institutions serving small businesses

Accion, a global nonprofit, on Tuesday announced the launch of a $152.5 million fund to invest in financial institutions serving small businesses worldwide.  The fund, called Accion Digital Transformation Fund (ADTx), will back companies serving micro, small, and medium enterprises across South and Southeast Asia, Latin America, and Africa. It will be managed by Accion… Continue reading Accion launches $152.5m fund to back financial institutions serving small businesses

Indian insurer Go Digit raises $141m from anchor investors ahead of IPO

Indian insurer Go Digit has raised Rs 1,176 crore ($141 million) from anchor investors, including Fidelity Funds, Goldman Sachs and Abu Dhabi Investment Authority (ADIA), ahead of its initial public offering (IPO). According to a stock exchange filing, more than 56 anchor investors were allotted 4.3 crore shares for Rs 272 per share before the… Continue reading Indian insurer Go Digit raises $141m from anchor investors ahead of IPO

Dunzo-backer Blume Ventures looking to tap India’s greying populationOnly 13 startups in the elderly space in India have been funded by venture/angel …

Dunzo- and Unacademy-backer Blume Ventures is turning its attention towards the elderly in India as the world’s most populous country starts to grey. With an estimated 145 million elderly individuals (aged 60 and above) and a projected 40% surge in this population by 2031, compared to a mere 8% rise in the general populace during… Continue reading Dunzo-backer Blume Ventures looking to tap India’s greying populationOnly 13 startups in the elderly space in India have been funded by venture/angel …