Uber to set up official unit in Indonesia

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 Uber Technologies, a San Francisco-based company that operates the ride-sharing smartphone application Uber, is slated to set up an official unit in Indonesia this year, sealing the company’s venture in Southeast Asia’s largest economy, Globe Asia reported. “We’re currently in the process of preparing documents to submit to the [Investment Coordinating… Read more »

Thailand’s Saha Pathana forms JV with Japanese logistics co Seino, targets biz growth in ASEAN

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Thai consumer goods conglomerate Saha Pathana Inter Holding (SPI) and Japan’s logistic firm Seino Holdings have formed a joint venture firm, Seino Saha Logistics, to support the expansion of SPI’s distribution network in the Southeast Asia. The new company has a registered capital of 20 million baht (about $590,000) with SPI holding… Read more »


Singapore government’s EDBI increasing investment in ad tech

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As advertising technology (ad tech) becomes more significant worldwide, Singapore’s government investment bodies like Vertex Ventures, Infocomm Investments (IIPL) and the Economic Development Board’s corporate investment arm – EDBI –  are actively increasing investments in digital technologies. With digital marketing seen as an area with high growth potential, EDBI has said… Read more »


Siam Commercial Bank to take-over its Vietnam-based JV Vinasiam Bank

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Thailand’s Siam Commercial Bank (SCB) will set up a wholly owned branch in Vietnam by taking over Vinasiam Bank – which is a joint venture between SCB, the Vietnam Bank for Agriculture and Rural Development (Agribank) and Thai conglomerate Charoen Pokphand Group. “Vinasiam Bank is an utterly weak bank in operation, which cannot assure… Read more »


PH’s ATN Holdings mulls $22.12m share sale

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Philippine-based ATN Holdings Inc is planning to raise up to $22.12 million (P1 billion) via a preferred shares offer to fund a 30-megawatt solar power plant in Rodriguez, Rizal Province. ATN Holdings has an existing interest in ATN Philippines Solar Energy Group Inc (ATN Solar), a grantee of a 30MW… Read more »


Sabre Corporation acquires Abacus International

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The Sabre Corporation has completed the acquisition of Abacus International, a major global distribution system (GDS) provider in the Asia Pacific (APAC) region. Sabre, which previously owned a 35 per cent stake in the Abacus, has acquired the remaining portion for a net cash consideration of S$411 million. The acquisition, including associated working capital adjustments and… Read more »


VN Dealbook: Vinamilk adds $3.5m in New Zealand’s Miraka, Vietinbank Capital acquires 13.5% in PTIC

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Two companies in Vietnam have recently increased investment in other businesses through share acquisition. While Vinamilk, the country’s biggest dairy firm, poured another tranche of $3.5 million in an overseas partner, Miraka Limited – New Zealand, Vietinbank Capital’s maiden investment in the Post and Telecommunications Investment and Construction JSC, see the investment firm… Read more »


Cosmetics startup Luxola acquired by LVMH-owned Sephora

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Singapore-based e-commerce platform Luxola, which was launched in 2011, has been acquired by French luxury goods conglomerate LVMH, following an undisclosed investment into Luxola by LVMH’s cosmetics subsidiary Sephora. The financial details of the acquisition are undisclosed. According to Crunchbase data, Luxola raised $15.6 million across four rounds of venture funding. The last funding… Read more »


Trans-Asia pays PSALM $9.28m for 3 power barges

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Trans-Asia Oil and Energy Development Corp has paid the Power Sector Assets and Liabilities Management Corporation (PSALM) $9.28 million (P420 million) in cash for three power barges. Both companies have already delivered to each other their respective closing documents and payment of the purchase price by Trans-Asia of the Power… Read more »


PH mining co AMIC seals $15.47m equity deal with Gem Global

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Philippine-listed Abra Mining & Industrial Corp (AMIC) has concluded a deal to raise fresh equity fund of up to $15.47 million (P700 million) for top-up private placement through Gem Global Yield Fund Inc. AMIC informed the stock exchange that the company’s board of directors has approved the letter commitment of… Read more »