Author: Deal Street Asia Online News

Nitro rejects Potentia’s alternative offer, backs KKR-backed Alludo’s bid

Australia’s Nitro Software rejected an alternative takeover offer from private-equity (PE) firm Potentia Capital, which gave Nitro shareholders the choice of an all-cash, stock, or a combination of both, at the same offer price. The company also said on Wednesday it would recommend shareholders to vote for KKR Inc-backed Alludo’s all-cash, sweetened takeover offer of A$526.9 million ($354.55 million) and an off-market takeover. The developments come after high inflation, weak… Continue reading Nitro rejects Potentia’s alternative offer, backs KKR-backed Alludo’s bid

Crypto exchange Kraken to stop operations in Japan next month

US-based crypto exchange Kraken said on Wednesday it would cease its operations in Japan next month, citing the current market conditions in the country and a weak crypto market globally. Kraken will deregister from the Financial Services Agency (JFSA) as of Jan. 31, by which time clients would have to withdraw their fiat and crypto holdings, it said in a statement. Kraken said it is fully funded to ensure… Continue reading Crypto exchange Kraken to stop operations in Japan next month

Malaysia’s Berjaya weighs potential acquisition in financial services

Malaysian consumer-to-property conglomerate Berjaya Corp is evaluating a “major potential acquisition” involving a licensed entity governed by the Malaysian central bank, it said in a stock filing late Tuesday. To facilitate the potential purchase of a 51% equity stake, Berjaya Corp said its founder and major shareholder Vincent Tan Chee Yioun intends to pare down his stake to not more than 19.6% by… Continue reading Malaysia’s Berjaya weighs potential acquisition in financial services

Private equity trends to watch for in SE Asia next year

Even as the markets barely recovered from the impact of the pandemic in 2022, the capital flow got disrupted again by geopolitical uncertainties and an inflationary environment across the globe resulting in a rough year for private equity. The overall macro environment also meant that SE Asia’s young private equity market has to adapt to… Continue reading Private equity trends to watch for in SE Asia next year

Garuda Indonesia hopes to resume trading shares after $80m sukukTrading of Garuda’s shares has been suspended after its $500m sukuk default in June la…

Flag carrier Garuda Indonesia plans to issue around $80 million in Islamic bonds or sukuk this week, a move that will pave the way for its shares to be traded again on the Jakarta stock exchange, the company said on Tuesday. Trading of Garuda‘s shares has been suspended since the airline defaulted on its $500 million sukuk in… Continue reading Garuda Indonesia hopes to resume trading shares after $80m sukukTrading of Garuda’s shares has been suspended after its $500m sukuk default in June la…

Indian regulator PFRDA proposes to bring gig workers into pension fold

India‘s pension fund regulator has recommended the federal government introduce a UK-like pension scheme for the country’s gig workers, a move aimed at bringing about 90% of the overall workforce into the pension fold, its chairman told Reuters. The Pension Fund Regulatory and Development Authority (PFRDA), which manages over $102 billion in assets, has proposed that workers at food and cab aggregators be… Continue reading Indian regulator PFRDA proposes to bring gig workers into pension fold

Indonesian brands venture abroad as halal cosmetics find more suitors

Companies offering halal cosmetics in Indonesia, the world’s largest Muslim-majority country, are aiming to boost the international appeal of their products in Southeast Asia and beyond as they see potential in attracting more non-Islamic consumers. In 2014, Indonesia enacted a law requiring halal certification for a wide range of consumer products sold in the country. The new… Continue reading Indonesian brands venture abroad as halal cosmetics find more suitors

Nepal-focused Dolma Fund Management closes second impact fund at $72mIt vehicle recently raised $10m from the Japan International Cooperation Agency.

Nepal-focused Dolma Fund Management has raised $10 million for its second impact fund from the Japan International Cooperation Agency (JICA) and brought the vehicle to a final close of nearly $72 million. The firm had earlier targeted to raise $75 million for the Dolma Impact Fund II. Other development financial institutions which have committed to… Continue reading Nepal-focused Dolma Fund Management closes second impact fund at $72mIt vehicle recently raised $10m from the Japan International Cooperation Agency.

Summit Video: There is scope for improvement for investments in warung tech

Mom-and-pop stores dominate the retail landscape in India and Indonesia. While the latter is home to 3.5 million warungs, India houses 13 million kirana stores. Despite being commonplace, there is much scope for improvement when it comes to venture investments in warung and kirana tech. “So many times, the store owner has only a rough idea… Continue reading Summit Video: There is scope for improvement for investments in warung tech