Japan’s Nippon Yusen KK said on Wednesday it will invest in Pertamina International Shipping (PIS), a unit of Indonesia’s state energy firm Pertamina, without disclosing terms of the deal. The move by Japan’s biggest shipping company is aimed at expanding business in Indonesia, where energy and energy transportation demand are expected to increase in tandem with the country’s economic growth, a spokesperson for Nippon Yusen said. Nippon Yusen plans to complete the deal… Continue reading Japan’s Nippon Yusen to invest in Indonesia-based Pertamina’s shipping unit
Author: Deal Street Asia Online News
ID Digest: Kopi Kenangan opens store in Malaysia; APLN sells assets
Indonesia’s Kopi Kenangan has opened its first international store in Malaysia. Meanwhile, listed property developer Agung Podomoro Land has sold a part of its stake in a local mall. Kopi Kenangan arrives in Malaysia Indonesian tech-enabled coffee chain and unicorn Kopi Kenangan has officially expanded to Malaysia by opening its first international store in Suria… Continue reading ID Digest: Kopi Kenangan opens store in Malaysia; APLN sells assets
Indonesia govt offers tax breaks for investments in new capital city project
The Indonesia government will offer tax incentives, including a 30-year tax exemption and 350% tax deduction, for companies investing in the country’s new capital called Nusantara, a top official said at an investors’ gathering on Tuesday. Bambang Susantono, Head of the Nusantara National Capital Authority, said the investment rules for Nusantara will be finalised soon. “We… Continue reading Indonesia govt offers tax breaks for investments in new capital city project
India digest: BeepKart raises $9m, Drivetrain AI bags $15mBeepKart’s Series A round was led by Vertex Ventures Southeast Asia & India.
BeepKart, a full-stack online platform of used two-wheelers, has raised $9 million in a Series A round. Separately, Drivetrain AI, a financial planning and monitoring platform for growing businesses and enterprises, has raised $15 million. BeepKart raises $9m led by Vertex Ventures Southeast Asia & India BeepKart, a full-stack online platform of used two-wheelers, has… Continue reading India digest: BeepKart raises $9m, Drivetrain AI bags $15mBeepKart’s Series A round was led by Vertex Ventures Southeast Asia & India.
Etihad gets new CEO after takeover by Abu Dhabi wealth fund ADQ
Abu Dhabi state carrier Etihad‘s parent company has appointed Antonoaldo Neves as its new chief executive officer, replacing Tony Douglas, after the emirate’s government transferred Etihad‘s ownership to ADQ, the wealth fund said on Wednesday. Douglas, Etihad‘s CEO since 2018, who ADQ said has decided to pursue another unspecified opportunity, will serve as an adviser to the board of… Continue reading Etihad gets new CEO after takeover by Abu Dhabi wealth fund ADQ
Love, Bonito to open first US physical store next year, says “moving towards” IPO
Singapore’s Lovebonito Holdings, owner of the Love, Bonito female fashion brand and backed by investors including Chinese buyout firm Primavera Capital Group, is targeting opening its first US physical store next year, its top executive said. “The US is really one of the big bet markets for us that we want to double down on,” Dione Song, CEO of Lovebonito Holdings, told… Continue reading Love, Bonito to open first US physical store next year, says “moving towards” IPO
China Digest: XR glasses maker VITURE bags $10m; Metalenz raises $30mBaidu Ventures participated in Metalenz’s fundraising.
XR glasses maker VITURE has raised $10 million in a Series A round, while metasurface optics maker Metalenz has bagged $30 million in a Series B funding round led by Neotribe Ventures. XR glasses maker VITURE bags $10m Series A Extended reality (XR) firm VITURE has raised over $10 million in a Series A funding… Continue reading China Digest: XR glasses maker VITURE bags $10m; Metalenz raises $30mBaidu Ventures participated in Metalenz’s fundraising.
HK bourse weighs looser IPO rules for tech companies amid Q3 profit slump
Hong Kong’s bourse operator said there were signs of new momentum in the initial public offering market as it posted a 30% drop in third-quarter profit on Wednesday, beating analyst expectations for a steeper fall. Hong Kong Exchanges and Clearing Ltd (HKEX) also said it had launched a two-month consultation to make it easier for… Continue reading HK bourse weighs looser IPO rules for tech companies amid Q3 profit slump
Asia Digest: BigPay adds 3 new services; Wise to double SG headcount
Fintech company BigPay is adding three new services to its Major Payment Institution Licence, while global payments firm Wise is optimistic about raising its headcount in Singapore to 400. BigPay adds three new financial services in Singapore BigPay, the fintech unit of Malaysia’s Capital A, is adding three new services to its Major Payment Institution… Continue reading Asia Digest: BigPay adds 3 new services; Wise to double SG headcount
S.Korean chat app Kakao’s co-CEO steps down after widespread outage
Kakao Corp’s co-CEO Namkoong Whon has stepped down, the company said on Wednesday, after an outage that shut down South Korea’s largest mobile chat app and other services, triggering widespread backlash from authorities and the public. The resignation, effective Wednesday, leaves co-CEO Hong Euntaek as the sole CEO. The company apologised for the outage that… Continue reading S.Korean chat app Kakao’s co-CEO steps down after widespread outage