Asia Digest: Sea confirms staff movement in Garena PH; NuMoney Indonesia launches $1m incubator fund


Sea said the changes were the result of the company readjusting to a digital economy.

Philippines’ San Miguel further trims F&B unit’s IPO size, eyes $634m

The final size is less than half the original target of 1.02 billion shares for up to P140 per share.

ADB commits $25m to SME-focused PE fund Exacta II

Exacta II is managed by Exacta Capital Partners, an entity in which Japan’s Mizuho Bank has a 39.9-per cent stake.

Guest post: Chinese fintech lenders flock to the Philippines

Low bank penetration and high internet penetration, it is not difficult for investors to see the similarity between Indonesia and Philippines – opportunity.

Melco delays tender offer for PH casino unit, cancels delisting

This is the second time that Melco has withdrawn its application to delist the unit, amid minority shareholder opposition to the proposed price.

IFC commits $150m to green bond issued by Philippines-based China Bank

Proceeds will be used to finance climate-smart projects including renewable energy, green buildings, energy efficiency, and water conservation.

Asian fast-food giant Jollibee open to strategic acquisitions

It also hopes to double its revenue in five years, as it expands its own chains and buys others, at a time when deal-making in the restaurant sector is heating up.

Philippines’ San Miguel halves food unit IPO size, seeks $920m

The sale of a minority stake in San Miguel Food and Beverage is part of a restructuring plan announced last year.

Philippines: Ayala arm invests in local health app AIDE

Ayala Corporation said, the investment in AIDE is part of AC Health’s strategy to invest in innovative health technology solutions.

PH antitrust watchdog slaps Grab, Uber with $300K fine

The PCC’s decision comes less than a month after Singapore’s anti-trust commission fined Grab and Uber a combined $9.5 million.