Indonesia has begun an investigation on the legality and ethics of Telkomsel’s investment in listed technology unicorn PT GoTo Gojek Tokopedia Tbk (GoTo), lawmakers told DealStreetAsia on Tuesday, despite concerns that the move may be political. At least two commissions at the House of Representatives — one overseeing state-owned enterprises and the other overseeing legal… Continue reading Indonesia begins probe into Telkomsel-GoTo deal, but some call it political
Author: Deal Street Asia Online News
China’s HAI ROBOTICS snags over $100m in Series D+ led by Capital Today
HAI ROBOTICS, a developer of artificial intelligence (AI)-enabled robotic solutions for warehouses and factories, has secured over $100 million in a Series D+ round of financing led by Capital Today, which has backed JD.com and Meituan. In its third fundraising in the past 12 months, HAI ROBOTICS saw participation from investors including 5Y Capital, Source… Continue reading China’s HAI ROBOTICS snags over $100m in Series D+ led by Capital Today
People Digest: Carsome announces key appointments; State Street names ETF head in SG …
Malaysia-based car marketplace Carsome has announced key appointments to its advisory board while State Street Global Advisors has appointed Jermyn Wong as head of its SPDR exchange-traded fund business in Singapore. Carsome announces key appointments Malaysia-based car marketplace Carsome has announced key appointments to its advisory board to lead regional expansion and accelerate growth as the… Continue reading People Digest: Carsome announces key appointments; State Street names ETF head in SG …
Asia Digest: CoachHub eyes SG expansion after raising $200m, Morning nets $5m funding
Digital coaching platform CoachHub is expanding in Singapore after a $200-million funding while Singapore-based startup Morning announced raising $5 million in Series A. Silicon Valley-based Scale Asia Ventures has also launched a debut $30-million early-stage fund. CoachHub raises $200m, eyes Singapore expansion Digital coaching platform CoachHub is setting up a presence in Singapore as part… Continue reading Asia Digest: CoachHub eyes SG expansion after raising $200m, Morning nets $5m funding
Pakistani B2B startup Dastgyr raises $37m in country’s largest Series A round
Dastgyr, a B2B e-commerce marketplace based in Pakistan, has raised $37 million in its Series A funding round led by Veon Ventures, per an announcement. This marks the largest Series A round in Pakistan. The round also saw the participation of a series of investors – both institutional and individual. These include names such as… Continue reading Pakistani B2B startup Dastgyr raises $37m in country’s largest Series A round
Japan’s Idemitsu Kosan to acquire Seibu Oil, shut its refinery
Japanese petroleum supplier Idemitsu Kosan is set to buy out its affiliate Seibu Oil by October and close its only refinery as early as fiscal 2023, the Nikkei newspaper reported on Tuesday. Idemitsu will increase its current 38% stake in Seibu Oil to make it a wholly owned unit, the report said. Japan’s UBE Corporation 4208.T and Chugoku Electric Power also have stakes in the oil company. Idemitsu is considering using the refinery in Yamaguchi as a hub for alternate… Continue reading Japan’s Idemitsu Kosan to acquire Seibu Oil, shut its refinery
China may miss boom in Asia buyout deals despite likely easing of crackdown
Buyout funds are set to extend a record spending spree in Asia to the rest of the year but they will be mostly seeking deals outside China, where concerns about the economy are likely to outweigh any easing of a regulatory crackdown, dealmakers said. Private equity mergers and acquisitions (M&A) activity in Asia, not including Japan, posted a record start to the year with $167.4 billion spent… Continue reading China may miss boom in Asia buyout deals despite likely easing of crackdown
Sustainability data firm EcoVadis raises $500m, GIC joins as investor
Sustainability data firm EcoVadis has raised $500 million to become one of the sector’s first “unicorns”, its co-chief executive told Reuters, as demand from companies to track their performance on environmental and social issues surges. A unicorn is an unlisted firm valued at $1 billion or more. The financing, led by private equity firms Astorg and BeyondNetZero, General Atlantic’s climate investing arm,… Continue reading Sustainability data firm EcoVadis raises $500m, GIC joins as investor
Australia bus operator weighs last-minute rival offer for UK’s Go-Ahead
Australian transit operator Kelsian Group Ltd said it may bid for Go–Ahead Group after the British bus firm agreed to a 647.7 million pound ($789 million) buyout from another Australian group, setting the stage for a bidding war. Go–Ahead, which runs buses in several English cities including London, plus Ireland and Singapore, supported a buyout from Kinetic Holding Co, prompting Kelsian to say… Continue reading Australia bus operator weighs last-minute rival offer for UK’s Go-Ahead
Indonesia’s Garuda airline seeks delay in vote on debt restructuring proposal
Garuda Indonesia has asked administrators to postpone a vote on the flag carrier’s debt restructuring proposal for two days to June 17, its chief executive said late on Monday. Garuda creditors had been expected to vote on the restructuring proposal on Wednesday. CEO Irfan Setiaputra said in a statement that a delay was needed to finalise administrative matters and to harmonise the input of stakeholders on the restructuring proposal. Garuda started the court-led restructuring process… Continue reading Indonesia’s Garuda airline seeks delay in vote on debt restructuring proposal