Author: Deal Street Asia Online News

Justin Choi resigns just a month after taking charge as Spenmo CEO

Former CVC Partners investor Justin Choi has resigned as chief executive officer CEO), just a month after assuming the role at Singapore expense management startup Spenmo. According to a company statement, Choi resigned from his role effective July 27, 2023, due to personal reasons. Jo-Ann Chung, Spenmo’s chief product officer, will take over as acting… Continue reading Justin Choi resigns just a month after taking charge as Spenmo CEO

Better cost structure, higher revenues help Blibli trim losses in H1 2023

PT Global Digital Niaga Tbk—the Indonesia-listed entity that owns e-commerce player Blibli, online travel agency Tiket.com, and supermarket chain Ranch Market—trimmed its losses by almost 30% in the first half of 2023 on higher revenues and an improved cost structure, the company said in a statement late on Friday. Blibli recorded 3.95 trillion rupiah ($261… Continue reading Better cost structure, higher revenues help Blibli trim losses in H1 2023

TNB Aura in talks to raise third fund, sees Vietnam as core marketThe firm has made 8 investments in total in Vietnam over the past 3 years.

Singapore-based venture capital firm TNB Aura (TNBA) is in talks to raise capital for its third fund, with a corpus expected to be bigger than the predecessors, a top executive said. TNB Aura Fund II closed at around $100 million in 2022 while its maiden fund, which was a joint effort between Australia-based venture fund… Continue reading TNB Aura in talks to raise third fund, sees Vietnam as core marketThe firm has made 8 investments in total in Vietnam over the past 3 years.

Vietnam’s VinFast to complete SPAC merger next monthThe business combination values VinFast at an enterprise value of $27b and an equity value of $23b…

Vietnamese electric vehicle (EV) maker VinFast said it was set for a public debut next month following the completion of a business combination with Black Spade Acquisition Corp. The transaction is expected to occur after the special purpose acquisition company holds its extraordinary shareholder meeting on August 10 to approve the proposed business combination, VinFast… Continue reading Vietnam’s VinFast to complete SPAC merger next monthThe business combination values VinFast at an enterprise value of $27b and an equity value of $23b…

CBC Group appoints Andrew Dempsey as investor relations head

Asian healthcare private equity investor CBC Group has appointed Andrew Dempsey as its global head of investor relations, according to an announcement. Dempsey will oversee the firm’s global investor relations activities across capital formation, distribution and client services from New York. He will report to CBC Group’s CEO, Fu Wei, who is based in the… Continue reading CBC Group appoints Andrew Dempsey as investor relations head

AMD to invest $400m in India over next five years

US chipmaker Advanced Micro Devices (AMD) said on Friday it will invest around $400 million in India over the next five years and will build its largest design centre in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in… Continue reading AMD to invest $400m in India over next five years

BPEA EQT completes $6.5b merger of HK-based Vistra and Tricor

BPEA EQT, the Asian private equity arm of Swedish investment firm EQT, has completed the merger of its Hong Kong-based business services firms Vistra and Tricor, valuing the combined entity at $6.5 billion including debt, EQT said Friday. The combined business comprises over 9,000 professionals in more than 50 jurisdictions, EQT said in a statement.… Continue reading BPEA EQT completes $6.5b merger of HK-based Vistra and Tricor

SEA Digest: UK, SG to collaborate on crypto; ACRA to review accounting framework; Gobi Partners, HSBC ink MoU

In separate developments, the Monetary Authority of Singapore (MAS) and the UK’s HM Treasury will collaborate on developing global regulatory standards for crypto and digital assets; Singapore’s  ACRA will review the country’s accounting regulatory framework; and Gobi Partners and HSBC have signed an MoU to explore opportunities in Hong Kong and ASEAN UK, Singapore to… Continue reading SEA Digest: UK, SG to collaborate on crypto; ACRA to review accounting framework; Gobi Partners, HSBC ink MoU