JD.ID, the Indonesia arm of Chinese e-commerce giant JD, has let go of 30% of its workforce, or close to 200 employees, the company said on Tuesday. “This downsizing exercise is necessary to respond to the current challenges and rapid changes in business,” said Setya Yudha Indraswara, JD.ID head of corporate communications and public affairs.… Continue reading E-commerce firm JD fires 200 employees in Indonesia amid exit speculations
Author: Deal Street Asia Online News
Affirma Capital cuts first deal in Japan, invests $38.5m in tax-free retail chain JTCThe investment comes with a call option to purchase the founder’s…
Singapore-based private equity firm Affirma Capital has invested $38.5 million in Japan-based, Korea-listed tax-free retail chain operator JTC Inc for a 30.1% stake. Affirma has also bought a call option to purchase the founder’s stake of 22.3%, it said in a statement on Tuesday. The call option can be exercised between April 2023 and October… Continue reading Affirma Capital cuts first deal in Japan, invests $38.5m in tax-free retail chain JTCThe investment comes with a call option to purchase the founder’s…
Hong Kong’s PAG closes APAC’s largest private credit fund at $2.6b
Hong Kong-headquartered alternative investment firm PAG has closed its fifth pan-Asian direct lending fund worth $2.6 billion, according to a company announcement on Tuesday. The fund, dubbed PAG Loan Fund V, is the largest of its kind in Asia-Pacific to date, per the statement. It received capital commitments from 20 institutional investors, including sovereign wealth… Continue reading Hong Kong’s PAG closes APAC’s largest private credit fund at $2.6b
Readline snaps $43m and 47 other Greater China deals worth nearly $1.75b
Readline, a Shenzhen-based bio-pharmaceutical firm, has secured 300 million yuan ($43 million) in a Series B round led by CoStone Capital, the firm announced via its WeChat channel on Friday. The round, participated by institutional investors such as Jinhang Group, Gree Electric, Xinshang Capital, Oriental Fortune Capital, Green Pine Capital Partners, and Hunan Caixin Investment… Continue reading Readline snaps $43m and 47 other Greater China deals worth nearly $1.75b
Shell to sell stake in Malaysia’s Baram Delta to Petroleum Sarawak for $475mThe transaction will be effective Jan 1 and is targeted for completion in …
Shell Plc said on Tuesday it will sell its stake in two offshore production sharing contracts in Malaysia’s Baram Delta for $475 million to Petroleum Sarawak Exploration & Production Sdn Bhd. The announcement comes after Shell announced in March 2021 that it was considering selling its stake in the two production sharing contracts, as part… Continue reading Shell to sell stake in Malaysia’s Baram Delta to Petroleum Sarawak for $475mThe transaction will be effective Jan 1 and is targeted for completion in …
Asia Digest: Australia’s Pathzero raises $5.3m; New Zealand’s Partly bags $21m
Pathzero, an Australia-based environmental consulting startup, secured $5.3 million in its Series A+ funding round, while New Zealand-based software startup Partly raised $21 million in a Series A round. Carthona Capital leads Pathzero Pathzero, an Australia-based environmental consulting startup, secured $5.3 million in its Series A+ funding round bringing total Series A funding to $10.5… Continue reading Asia Digest: Australia’s Pathzero raises $5.3m; New Zealand’s Partly bags $21m
Kae Capital leads funding in SaaS startup Contlo and other India deals
Contlo, a Delaware and Bengaluru-based customer data and marketing platform for e-commerce and direct-to-consumer (DTC) brands, has raised $3.5 million in its seed funding round led by Kae Capital. The round also saw participation from Better Capital and Titan Capital. The angel investors in the round included Harshil Mathur and Shashank Kumar (founders of Razorpay), top… Continue reading Kae Capital leads funding in SaaS startup Contlo and other India deals
Tokopedia hikes commission fees, analysts feel it may affect group’s GTV
E-commerce platform Tokopedia, part of Indonesia’s largest listed tech group PT GoTo Gojek Tokopedia Tbk, on Monday announced an increase in commission fees to its merchants, starting early January 2023. The fees will now range between 1% and 4.5% of the product price, compared with 0.5% and 3% previously. The hike will depend on the… Continue reading Tokopedia hikes commission fees, analysts feel it may affect group’s GTV
IBM ties up with new Japanese chip maker Rapidus to make advanced chipsThe announcement comes as US-China relations remain tense, especially over chip…
IBM Corp said on Tuesday it is partnering with Rapidus, a newly formed chip maker backed by the Japanese government, to help it manufacture the most advanced chips currently available. The announcement comes as U.S.-China relations remain tense especially over chips, and Washington recently restricted Beijing’s access to advanced semiconductor technology. Japan, which has long lost its… Continue reading IBM ties up with new Japanese chip maker Rapidus to make advanced chipsThe announcement comes as US-China relations remain tense, especially over chip…
Grab appoints Alejandro Osorio as new country head for Vietnam
Southeast Asian superapp Grab has announced the appointment of Alejandro Osorio as managing director of Grab Vietnam to oversee its vision, business strategy, and operations across all businesses in the country. Osorio will also be responsible for driving the Grab for Good mission in Vietnam, which aims to create more positive social and environmental impacts… Continue reading Grab appoints Alejandro Osorio as new country head for Vietnam