Indonesian digital lender PT Bank Neo Commerce (BNC) expects to book its first full–year profit next year since launching its online services in 2021, its president director said, even as lenders in the sector compete to offer high deposit rates to lure customers. Southeast Asia’s biggest economy has seen double-digit growth in digital banking transactions in the past few years with transactions in 2022 set to grow 30% to 53,144… Continue reading Indonesian digital lender Neo Commerce targets first full-year profit next year
Author: Deal Street Asia Online News
Twitter temporarily shuts offices as layoffs begin
Twitter Inc temporarily closed its offices on Friday after telling employees they would be informed by email later in the day about whether they are being laid off. The move follows a week of uncertainty about the company’s future under new owner Elon Musk. The social media company said in an email to staff it would tell them by 9… Continue reading Twitter temporarily shuts offices as layoffs begin
MoneySmart to enter reverse takeover merger with SGX-listed Asia Pacific Strategic InvestmentsMoneySmart will hold 75.8% of the combined entity upon c…
Singapore-based personal finance platform MoneySmart is entering into a reverse takeover merger with Singapore-listed hotel operator Asia Pacific Strategic Investments (APS), according to a stock exchange filing on Thursday. MoneySmart will hold 75.8% of the combined entity upon completion of the merger, while APS will relinquish and dispose of its real estate business, which was… Continue reading MoneySmart to enter reverse takeover merger with SGX-listed Asia Pacific Strategic InvestmentsMoneySmart will hold 75.8% of the combined entity upon c…
China’s Welion snags $206m in a Series D round to expand its production lineThe round was led by Mixed Ownership Reform Fund.
China’s solid-state lithium battery developer Welion has notched 1.5 billion yuan ($206.1 million) in a Series D round led by Mixed Ownership Reform Fund, a national fund that sets out to support mixed-ownership reforms of state-owned enterprises (SOEs). The net proceeds will help the Beijing-headquartered company speed up its production line expansion, as well as… Continue reading China’s Welion snags $206m in a Series D round to expand its production lineThe round was led by Mixed Ownership Reform Fund.
HSBC’s shareholder Ping An seeks ‘aggressive’ cost cuts amid breakup push
HSBC Holdings Plc’s largest shareholder Ping An has called on the bank to be “much more aggressive” in reducing costs by cutting jobs and said the lender’s board lacks experience in Asia, the Financial Times reported on Friday. It was “urgent” that the bank should go further on cost cutting and bring down its expenses, which are far higher than… Continue reading HSBC’s shareholder Ping An seeks ‘aggressive’ cost cuts amid breakup push
MY’s Kuala Lumpur Kepong eyes bigger stake in British chemicals firm
Malaysian plantation giant Kuala Lumpur Kepong Bhd is considering raising its stake in British chemicals company Synthomer Plc as it looks to further expand its specialty chemicals business globally, two sources told Reuters. Kuala Lumpur Kepong is talking with at least one financial adviser to explore potentially boosting its 26.3% stake in Synthomer, said the sources with knowledge of the matter. The stake purchase could comprise primary and secondary shares, the sources added, asking not to be… Continue reading MY’s Kuala Lumpur Kepong eyes bigger stake in British chemicals firm
UK fund manager Man Group betting on China trading opportunities
UK fund manager Man Group Plc sees ample opportunities to generate strong returns from investments in China and plans to expand its presence in the world’s second-largest economy after the country eases its strict COVID-19 curbs, its CEO said. Those returns would come from “great trading opportunities“, including placing long and short bets on Chinese equities, said Man Group CEO Luke Ellis, without giving any details. The comments come as most… Continue reading UK fund manager Man Group betting on China trading opportunities
StanChart leads Series A funding in Partior; Beosin snags $20m; and other SE Asia dealsExisting investors and founders DBS, JP Morgan, and Temasek als…
Partior, a Temasek-backed blockchain innovator based in Singapore, has announced raising an undisclosed amount in its Series A funding round anchored by UK-headquartered bank Standard Chartered. The round was also participated by existing investors and founders DBS, JP Morgan, and Temasek. The three investors founded Partior last year as an independent company that grew from… Continue reading StanChart leads Series A funding in Partior; Beosin snags $20m; and other SE Asia dealsExisting investors and founders DBS, JP Morgan, and Temasek als…
India Digest: SolarSquare raises $12m, Hitwicket snags $3m
Solar company SolarSquare has raised $12 million in a Series A funding round, while cricket gaming startup Hitwicket has secured fresh funding of $3 million. Elevation Capital, Lowercarbon invest in SolarSquare Residential solar company SolarSquare said it has raised $12 million (Rs 100 crore) in a Series A funding round led by Elevation Capital and… Continue reading India Digest: SolarSquare raises $12m, Hitwicket snags $3m
Global PE majors betting big on Japan, ChinaThe infrastructure space in China offers a lot of opportunities, PE investors say.
Global private equity giants and asset managers are betting big on opportunities in Japan and China, despite stagnant growth and mounting geopolitical uncertainty in the respective regions. “Everything’s on sale in Japan for people who have dollars,” said William Conway Jr, co-founder, interim CEO, and co-chairman of Carlyle at a panel discussion on the second… Continue reading Global PE majors betting big on Japan, ChinaThe infrastructure space in China offers a lot of opportunities, PE investors say.