Republican presidential candidate Donald Trump said he supports TikTok even as a potential ban looms if Chinese-parent company ByteDance fails to divest the short video app’s US assets. “I’m for TikTok because you need competition. If you don’t have TikTok, you have Facebook and Instagram,” Trump told Bloomberg BusinessWeek in an interview posted Tuesday. Trump… Continue reading ‘I’m for TikTok’, says Trump as potential US ban looms
Author: Deal Street Asia Online News
India’s Ola Electric likely to set valuation at around $4.5b for IPOOla Electric’s last funding round in September, led by Singapore’s Temasek, valued…
SoftBank-backed Indian e-scooter maker Ola Electric is likely to value the company at around $4.5 billion for its upcoming initial public offering (IPO), around 16-20% lower than at its last funding round, two sources with direct knowledge of the matter said. Ola Electric did not immediately respond to a request for comment. The Indian markets… Continue reading India’s Ola Electric likely to set valuation at around $4.5b for IPOOla Electric’s last funding round in September, led by Singapore’s Temasek, valued…
People Digest: Sea’s MariBank names Natalia Goh as CEO; Partners Group appoints Michael Marquardt to executive team
Singapore-based digital lender MariBank has named Natalia Goh as CEO while Partners Group has appointed Michael Marquardt to the firm’s executive team. Sea’s digital bank names Natalia Goh as CEO NYSE-listed Southeast Asian tech major Sea Ltd has named Natalia Goh as chief executive officer of its Singapore-based digital lender MariBank. Goh, who previously served… Continue reading People Digest: Sea’s MariBank names Natalia Goh as CEO; Partners Group appoints Michael Marquardt to executive team
HSBC launches new climate-focused infrastructure finance unit
Britain’s HSBC has set up a new unit to tap deals in infrastructure finance and project finance linked to the world’s shift to a lower-carbon economy, and hired a former UK politician to lead it, a senior banking executive told Reuters. HSBC Infrastructure Finance (HIF) will target “a meaningful share” of both in key markets and incorporate parts… Continue reading HSBC launches new climate-focused infrastructure finance unit
Chinese state-owned brokerage to ramp up i-banking business in SE Asia
A unit of state-owned brokerage China Galaxy Securities (CGS) plans to expand its investment banking team in Southeast Asia to 50 people next year from 30 now, a senior executive said, betting on a rise in dealmaking in the region amid a sluggish market at home. CGS International Securities is also in the process of… Continue reading Chinese state-owned brokerage to ramp up i-banking business in SE Asia
PwC may halve financial services audit staff in China amid client exodus: report
PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken business prospects. The move follows Chinese regulators’ scrutiny of PwC this year for its role as the auditor of troubled property giant China Evergrande… Continue reading PwC may halve financial services audit staff in China amid client exodus: report
Hann Resorts plans up to $342m Philippines IPO next yearHann Resorts has a target of listing on the Philippine bourse early next year.
The Philippines’ Hann Resorts is planning an initial public offering (IPO) worth up to 20 billion pesos ($342.2 million), the gaming regulator said on Tuesday, as the integrated casino-resort operator seeks to cash in on the booming gambling sector. The deal could be the largest maiden share sale in the Philippines since MREIT Inc’s 15… Continue reading Hann Resorts plans up to $342m Philippines IPO next yearHann Resorts has a target of listing on the Philippine bourse early next year.
Thai food delivery apps struggle as consumers return to pre-COVID ways
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Yali Capital rolls out $97m fund to back early-stage deeptech startups in India
Yali Capital, a venture capital firm floated by Cosmic Circuits co-founder Ganapathy Subramaniam and former Blackstone executive Mathew Cyriac, has launched a Rs 810-crore ($97 million) fund to invest in early-stage deeptech startups in India. Of the total amount, Rs 310 crore is a greenshoe option. The firm will also have a dedicated GIFT City… Continue reading Yali Capital rolls out $97m fund to back early-stage deeptech startups in India
GoTo’s stock price hits rock bottom. Is a rebound around the corner?Market analysts said the stock is likely to rebound soon on the back of some posit…
Indonesian tech giant PT GoTo Gojek Tokopedia Tbk’s (GoTo) stock price has been languishing at an all-time low of 50 rupiah apiece since June 25 as big investors continue to sell the stock, according to Indonesian Stock Exchange (IDX) data. The stock price is down 85% from its listing price of 338 rupiah apiece in… Continue reading GoTo’s stock price hits rock bottom. Is a rebound around the corner?Market analysts said the stock is likely to rebound soon on the back of some posit…