Minzhong CEO seeks majority stake for $333m


The executive chairman and chief executive of Singapore-listed China Minzhong Food, Lin Guo Rong, is seeking to acquire a controlling stake in the company for S$416.4 million ($333 million, approximately). The company, an integrated vegetable processor in the People’s Republic of China, said in a regulatory filing that Guo Rong… Read more »

Vserv,KL Axiata partner for mobile marketing

Vserv has partnered PT XL Axiata Tbk to integrate the Vserv Smart Data platform with XL, which aims to help mobile entertainment companies drive higher return on investments. Through this partnership, Vserv and XL Axiata will enable mobile entertainment marketers to target the most relevant audience, with the right advertisements… Read more »

Fatfish’s unit to own 50% in FinTech via SJV

Fatfish Internet Group Ltd,  through its unit Auto Direct Corp Ltd (ADC), has entered into a strategic joint venture (SJV) with FinTech Asia Group Ltd, a firm specialising in provision of technology and service to the financial industry. Under the SJV, FinTech will acquire ADC’s Indonesian online insurance portal RajaPremi for… Read more »

First Reit to acquire hospital in South Sumatra

Singapore listed First Real Estate Investment Trust (First Reit), said it had reached an agreement with PT Bisma Pratama Karya for acquiring a hospital in South Sumatra for S$39.16 million. This acquisition will expand First REIT’s portfolio to 16 properties and broaden its asset base by 3.54 per cent from S$1.13… Read more »

GIC partners Indonesia’s Rajawali with $500m JV

Singapore’s sovereign wealth fund GIC Pte and and Rajawali Group have agreed to jointly invest up to $500 million in property projects in Indonesia, largely in its capital city Jakarta’s central business district, both companies said. The joint venture will explore opportunities in sectors including office, retail, residential as well as… Read more »

Convergence launches $25m Indonesia VC fund

Convergence Accel, an early stage technology venture fund, focused on investing in Indonesia, has launched a $25 million fund to invest in startups as it aims to ride on the entrepreneurial boom in the country. Indonesia boasts of the largest consumer markets in the region with close to 250 million… Read more »

Indonesia’s FDN raises $1m Series A funding

Indonesia’s Female Daily Network (FDN), which operates websites such as Female Daily and Mommies Daily said it has raised $1 million in a Series A funding from a group of investors led by Ideosource. The other investors include Sinar Mas Digital Ventures and Jakarta-based Convergence Accel. FDN said it would use… Read more »

Indonesia’s Lion Air plans 2016 listing

Indonesian air carrier Lion Group is planning an initial public offering (IPO) in 2016 and will use the proceeds to build an airport hub, vital for its future, its chief executive said, according to a report. “We are already talking to the banks about an IPO and will use the… Read more »

PT Archi launches up to $379m Jakarta float

Indonesia’s gold mining operator PT Archi began roadshows, this week, for its upcoming initial public offer (IPO) that aims to raise between Rp3.5 trillion to Rp 4.6 trillion ($295 million to $379) million. PT Archi is part of the Indonesian conglomerate Rajawali Corp, controlled by tycoon Peter Sondakh. In addition… Read more »

HaruKaEdu gets Series A funding from CyberAgent Ventures

Indonesia’s online education and training startup HaruKaEdu has secured Series A round of funding from Tokyo-headquartered CyberAgent Ventures, said the company. It refused to divulge deal amount. Founded in 2013, HaruKaEdu said it will use the funding to enhance its online course offerings, hire more executives on its rolls and expand… Read more »