Author: Deal Street Asia Online News

Tencent Music beats Q1 revenue estimates on steady paid subscription, ad growth

China’s Tencent Music Entertainment Group beat first-quarter revenue estimates on Monday, thanks to steady growth in paid subscriptions and advertising services on its Spotify-like music streaming platform. The audio entertainment platform reported revenue of 6.77 billion yuan ($935.9 million) for the quarter ending March 31. Analysts were expecting revenue of 6.63 billion yuan, according to LSEG data. The company has capitalised on its position as the largest… Continue reading Tencent Music beats Q1 revenue estimates on steady paid subscription, ad growth

SEA Digest: Climate Impact X, XREX line up new productsXREX has obtained a Major Payment Institution Licence from the Monetary Authority of Singapore.

Climate Impact X is set to launch a new market intelligence service in the coming months, while digital asset firm XREX has obtained a Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore.   Climate Impact X to launch market intelligence service Temasek-backed carbon exchange Climate Impact X is set to launch a new market… Continue reading SEA Digest: Climate Impact X, XREX line up new productsXREX has obtained a Major Payment Institution Licence from the Monetary Authority of Singapore.

SoftBank records second straight profitable quarter in Q4

Japanese technology giant SoftBank Group swung to a quarterly profit on Monday versus the year earlier, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period. The result mark the second straight quarter of profit for SoftBank, which has been long known for both volatile earnings and outsized bets on technology… Continue reading SoftBank records second straight profitable quarter in Q4

Warburg-backed ESR halts trading as potential take-private talks gather steamA group led by financial investors is planning a deal to take ESR private…

Hong Kong-listed real estate fund manager ESR Group, which halted trading in its shares on Monday, is subject to a potential take-private deal by a group of investors, three sources with knowledge of the matter said. ESR, which is backed by US private equity firm Warburg Pincus LLC, said in a stock exchange filing trading… Continue reading Warburg-backed ESR halts trading as potential take-private talks gather steamA group led by financial investors is planning a deal to take ESR private…

Shares of OceanaGold Philippines decline in early trades on market debut

Gold miner OceanaGold Philippines Inc’s shares fell as much as 6% below their initial public offering (IPO) price in the first 15 minutes of trading on their market debut on Monday. The shares opened at 13.34 pesos ($0.2314) a touch above their IPO price of 13.33 pesos, but subsequently lost ground. Toronto-listed miner OceanaGold Corp… Continue reading Shares of OceanaGold Philippines decline in early trades on market debut

China’s ICBC to kick off TLAC bond sales with issuance of $4.15bIt marks the first issuance of such bonds by a Chinese bank.

Industrial and Commercial Bank of China said it would issue 30 billion yuan ($4.15 billion) worth of total loss-absorbing capacity (TLAC) bonds on May 15, marking the first issuance of such bonds by a Chinese bank. China’s major state-owned lenders face growing pressure to raise capital, especially as demands mount to support the economy, property… Continue reading China’s ICBC to kick off TLAC bond sales with issuance of $4.15bIt marks the first issuance of such bonds by a Chinese bank.