GIC Ascensus

Singapore’s GIC raises stake in Ayala-backed Philippine lender BPI


The investment was made through a through a series of transactions at the Philippine Stock Exchange (PSE) over the past two months.

Philippines: Livestreaming startup Kumu raises $1.2m from Summit Media

Founded in 2017 by Roland Ros, Rexy Dorado, Andrew Pineda, Clare Ros, and Angelo Mendez, Kumu allows fans to tip their favourite content creator on the platform and individual creators to stream their content.

PH Digest: Grab partners SM to expand GrabPay; CIMB sets up banking business

Grab’s partnership with SM will expand the mobile wallet’s usage beyond transport and deliver services.

PH Digest: Concepcion Tech buys Teko; PLDT invests $41m in Multisys

Teko utilises a proprietary platform for real-time access to service and repairs for home appliances,

Philippine tech firm Voyager Innovations closes $175m funding from KKR, Tencent

Voyager Innovations has raised a total of $215 million in fresh funding, including $40 million from IFC and the IFC Emerging Asia Fund.

IFC to invest $40m in Tencent & KKR-backed PH fintech firm Voyager Innovations

IFC’s investment brings Voyager’s total funds raised to $215 million and closely follows the $175-million funding round led by KKR and China’s Tencent Holdings.

Philippines: Robinsons Retail completes $343m acquisition of Rustan Supercenters

The deal, which was first announced in March this year, will give Robinsons Retail 100-per cent stake in Rustans.

Rocket Internet-backed Lamudi snags funding from Ringier, Axel Springer

Lamudi has doubled down on its focus on the Philippines, Indonesia, and Mexico, but eyes at opportunities beyond in the longer term.

Asean Digest: WeWork enters PH; Malaysia’s Securemetric raises $4m

Securemetric, a digital security solutions provider based in Malaysia, has raised $4 million on its debut in the ACE Market of Bursa Malaysia

China Telecom, local tycoon join hands to bid for Philippine telco licence

The third license, which could be awarded by year-end, comes at the behest of Philippine President Rodrigo Duterte and aims to boost the country’s notoriously patchy services and end a domestic duopoly long accused of being uncompetitive.