SG Digest:Tribe Theory enters Indonesia, India; Gordian Capital opens Shanghai office

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Tribe Theory, a REAPRA-backed operator of global hostels and hotel brands for startups and budding entrepreneurs, has expanded into Indonesia and India.

Tribe Theory

India: Kraft Heinz mulls sale of milk drink brand Complan for $1b

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Consumer acquisitions in India have more than doubled this year to $7.7 billion, up from $3.4 billion during the same period in 2017


Singapore’s OCBC plans wealth management business in China to boost profits

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The gradual opening up of China’s financial market worth trillions of dollars has enthused some overseas firms to bulk up their presence in the country


India Digest: BigBasket eyes Kwik24 stake; Fotowatio to sell project

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BigBasket had earlier launched a pilot e with Kwik24 to deploy smart vending machines in five apartment buildings in Bengaluru.


Thailand’s PTT to acquire power generating firm Glow for $3b

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The proposed acquisition will be done via PTT’s power and utilities arm Global Power Synergy.


Macquarie sells 40% in Australian wind power assets to Northleaf Capital

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The wind farms, acquired by Macquarie Capital last May, are scheduled to be fully operational by the second half of 2019.


Google to invest $550m in China’s e-commerce giant JD.com

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The deal could help JD.com expand beyond its base in China and SE Asia and establish a meaningful presence in U.S. and European markets.


China’s Geely completes deal to buy AB Volvo stake

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Geely announced in February it had bought a stake of almost 10 percent in Germany’s Daimler, AB Volvo’s main rival.


Insurance Australia to sell Thai, Indonesia units to Tokio Marine for $389.7m

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Tokio Marine & Nichido Fire Insurance will buy IAG’s 98.6% stake in Thailand’s Safety Insurance and 80% of PT Asuransi Parolamas in Indonesia.


AU Small Finance Bank gets shareholders’ nod to raise $147m from Temasek unit

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This is the largest primary capital infusion in AU Bank and its first ever since their last raise in fiscal 2012.