The International Finance Corporation (IFC), a member of the World Bank Group, has proposed to invest up to $14.5 million in Singapore-based agricommodity trade Agrocorp International Pte Ltd, according to a disclosure. The proposed investment will be in the form of a subordinated loan for a project supporting Agrocorp’s trading flows of wheat and pulses… Continue reading IFC mulls $14.5m loan for SG agri trading firm Agrocorp
Author: Deal Street Asia Online News
Asia-focused SPAC Aquaron Acquisition files for $50m US IPO …
Aquaron Acquisition, a special purpose acquisition company (SPAC) that targets the new energy sector in Asia, has filed with the US Securities and Exchange Commission (SEC) to raise up to $50 million in an initial public offering (IPO). The blank cheque company, led by CEO and chairman Jie Weng, the director of private equity and… Continue reading Asia-focused SPAC Aquaron Acquisition files for $50m US IPO …
Singapore’s OCBC hit by $240m extra capital requirement for phishing scam
Singapore‘s central bank said it has asked Oversea-Chinese Banking Corp Ltd (OCBC) to keep an additional S$330 million ($240 million) in capital for operational risk after hundreds of its customers were hit by an SMS phishing scam in December. “OCBC is required to apply a multiplier of 1.3 times to its risk-weighted assets for operational risk. This translates to an additional amount of approximately S$330 million in regulatory capital,” the Monetary Authority… Continue reading Singapore’s OCBC hit by $240m extra capital requirement for phishing scam
S Korea’s VIG Partners sees opportunities in “uncrowded” mid-market buyouts space
South Korea’s VIG Partners believes the mid-market buyouts segment, in which it operates, is still not crowded, compared with the large-cap buyouts space, leaving a lot of opportunities open for the firm. Chulmin Lee, managing partner at VIG Partners, told DealStreetAsia in an interview that mid-market deal flow comes from family businesses that do not… Continue reading S Korea’s VIG Partners sees opportunities in “uncrowded” mid-market buyouts space
Employees keep the faith in Indian startups despite layoffs, but more cautious now
A raft of recent layoffs at Indian startups has done nothing to dent their popularity in the job market. People are still keen on working for startups, albeit with an eye on their business sustainability, according to employees, employers and industry experts interviewed by DealStreetAsia. Over the last month alone, many contractual and full-time employees… Continue reading Employees keep the faith in Indian startups despite layoffs, but more cautious now
Carlyle buys Shanghai-based cosmetic packaging firm HCP …
Carlyle Group has bought HCP Packaging, a global cosmetic packaging company from Barings Private Equity Asia, the companies said in a statement on Thursday. HCP is headquartered in Shanghai and has 10 production and manufacturing facilities around the world and more than 250 clients, the statement said. Its customers include Estee Lauder, L’Oreal and Shiseido,… Continue reading Carlyle buys Shanghai-based cosmetic packaging firm HCP …
China’s Alibaba beats revenue estimates as lockdowns spur online demand
Alibaba Group Holding Ltd on Thursday beat expectations for fourth-quarter revenue, as growing demand for some of its niche online shopping services in China offset weakness at its main marketplaces caused by the country’s COVID-19 lockdowns. U.S.-listed Alibaba shares, which have lost roughly a third of their value so far this year, were up about… Continue reading China’s Alibaba beats revenue estimates as lockdowns spur online demand
Chinese tech firms forced into ‘blood listings’ as capital dries up
A growing number of Chinese tech start-ups, once the darlings of equity markets, are willing to list shares publicly in China at valuations lower than during private funding rounds in so-called blood listings. Unlike tech sector woes elsewhere, triggered mainly by rising interest rates, the misery in China comes from frothy tech markets and disruptions from harsh COVID-19 restrictions. Public offerings at… Continue reading Chinese tech firms forced into ‘blood listings’ as capital dries up
India Digest: Riverwalk launches fund; Innoviti raises more capital from FMO
Riverwalk Holdings, an early-stage India-focused venture capital fund, has announced the launch of a new fund while Innoviti Payment Solutions has raised additional capital from existing investor FMO. Riverwalk Holdings launches new fund Riverwalk Holdings has announced the launch of its Rs 150 crore ($19.3 million) fund anchored by Singapore-based Thakral Group. The vehicle also… Continue reading India Digest: Riverwalk launches fund; Innoviti raises more capital from FMO
People Digest: Northstar, Arbor Ventures, ARA announce key appointments …
Northstar Group, Arbor Ventures and ARA Asset Management have announced key appointments. Northstar appoints head of investor relations Singapore-headquartered private equity firm Northstar Group has appointed Roger Suter as executive director—head of investor relations, Suter announced on Linkedin. Before joining Northstar, Suter worked at UBS for 13 years, most recently as a director and client… Continue reading People Digest: Northstar, Arbor Ventures, ARA announce key appointments …