Indonesian e-commerce enabler SIRCLO is finalising its Series C funding round despite tighter liquidity in the market and an apparent end to the e-commerce boom witnessed during the COVID-19 pandemic, even as the company remains firmly focused on its profitability goals. “We are aiming for profitability in the next 12 months and have the option… Continue reading Indonesia’s SIRCLO finalising Series C funding round, eyes profit in a year
Author: Deal Street Asia Online News
Many Indonesian digital lenders swing to profit zone but is the trend sustainable?
Many of Indonesia’s listed digital lenders — Bank Jago, Allo Bank, Bank Raya, and Bank Neo Commerce — have posted positive bottom lines in the latest earnings season on the back of strong growth in lending and deposits. However, the question of whether they have permanently turned the corner remains open to debate. Go to… Continue reading Many Indonesian digital lenders swing to profit zone but is the trend sustainable?
Fubon Life disposes shares in funds of Tiger Global, AEA Investors, and 21 others
Fubon Life Insurance, the insurance unit of Taiwanese financial conglomerate Fubon Financial Holdings, has disposed off its holdings in funds managed by Tiger Global Management, AEA Investors, and 21 other private and hedge funds. In regulatory filings, the insurer disclosed that it sold 18,068 shares in a fund managed by dealmaker Tiger Global Management for… Continue reading Fubon Life disposes shares in funds of Tiger Global, AEA Investors, and 21 others
Shareholders in Dubai’s Empower to offer more stake in IPOThe company has increased the size of the stake being offered to 15% from 10%.
Shareholders in Dubai’s Emirates Central Cooling Systems Corporation (Empower) have increased the size of the stake being offered in an initial public offering to 15% from 10%, citing strong demand for the shares. Empower said in a statement its two shareholders Dubai Electricity and Water Authority DEWAA.DU and Emirates Power Investment had exercised their right to increase the number of ordinary shares being offered in the listing to… Continue reading Shareholders in Dubai’s Empower to offer more stake in IPOThe company has increased the size of the stake being offered to 15% from 10%.
HK stock exchange to adjust fees to boost turnover amid weak trading
Hong Kong stock exchange said on Tuesday it will change its securities transaction fee structure for investors to cut costs and boost sluggish trading amid volatile markets in the Asian financial hub. The trading tariff of HK$0.5 ($0.064) on each transaction will be removed from Jan 1, Hong Kong Exchanges and Clearing Ltd said, adding ad valorem fee, a tax derived from the value of a transaction, will be… Continue reading HK stock exchange to adjust fees to boost turnover amid weak trading
IFC, CapitaLand Ascott Trust jointly launch $111m ESG-linked bondsThe proceeds will be used to refinance existing borrowings and decarbonise CLAS’ ser…
Asia-Pacific’s largest lodging trust, CapitaLand Ascott Trust (CLAS), which is managed by Singapore-listed CapitaLand Investment, has launched JPY 16.5 billion ($111 million) sustainability-linked bonds in the global hospitality sector in partnership with International Finance Corporation (IFC). Under its S$2-billion ($1.4 billion) multicurrency debt issuance programme, the instrument has a 1.05% fixed coupon rate per annum… Continue reading IFC, CapitaLand Ascott Trust jointly launch $111m ESG-linked bondsThe proceeds will be used to refinance existing borrowings and decarbonise CLAS’ ser…
Entrepreneur First pulls the plug on SG and Toronto amid global restructuring
Entrepreneur First (EF) will consolidate its global operations and rescind its programmes in Singapore and Toronto, according to an official statement by the London-based venture builder. The strategy shift will see EF downsize the number of hubs it oversees while zeroing in on key growth markets such as Europe, North America, and India. EF added… Continue reading Entrepreneur First pulls the plug on SG and Toronto amid global restructuring
Nykaa’s quarterly profit grows three-fold on strong festive demand
FSN E-Commerce Ventures Ltd, which runs online fashion retailer Nykaa, on Tuesday reported a 350% jump in quarterly profit buoyed by strong demand for its products ahead of the festive season in India. Consolidated net profit stood at Rs 5.2 crore for the quarter ended Sept 30, 2022, compared with Rs 1.17 crore in the… Continue reading Nykaa’s quarterly profit grows three-fold on strong festive demand
Prosus and Naspers deny report about Tencent stake sale
Technology investment firm Prosus NV and its South African parent Naspers on Tuesday rejected as “untrue” a report that they are in talks to sell their large stake in Chinese software and gaming giant Tencent. In a pre-market statement, Amsterdam-based Prosus said an article in Asian Tech Press citing unnamed sources saying that Naspers was in talks with a group of investors led by state-backed CITIC of China to sell its entire Tencent stake was “speculative and untrue”. Prosus holds a 28% stake in Tencent worth $70 billion at… Continue reading Prosus and Naspers deny report about Tencent stake sale
SaaS unicorn Icertis secures $150m funding from Silicon Valley BankIt has raised the money through a revolving credit facility and convertible financi…
SaaS startup Icertis, which develops cloud-based software to help large companies manage contracts, has raised $150 million through a revolving credit facility and convertible financing from US-based Silicon Valley Bank, it announced on Monday. In a statement, Icertis said the funds will enable it to accelerate the application of transformational technologies like artificial intelligence, machine… Continue reading SaaS unicorn Icertis secures $150m funding from Silicon Valley BankIt has raised the money through a revolving credit facility and convertible financi…