World
TikTok achieved record sales in the US in 2023, according to FT.
Indonesia proposes to inject $3.7b into state-owned firms in 2024-25: minister
Qiming leads Shengshu Technology’s fresh funding round and 38 Greater China deals worth almost $368m
Hong Kong surpasses Singapore with over 2,700 single-family offices
India Digest: Jumbotail, Sprih raise funding; Malabar Investments eyes Sugar Cosmetics stake
SEA Digest: Grab partners with Triple-A; VinFast founder launches new company
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The LP View: Singlife’s investment arm charts private equity course for Asia
IFC weighs $100m investment for responsAbility’s Asia-focused climate fund
Charticle: First-time VC fund managers in SE Asia had one of their toughest years in 2023
Vietnam’s Vingroup sells 41.5% of its stake in Vincom Retail for nearly $1b
Indonesia-listed Saratoga likely to acquire Brawijaya Hospital from PE firm Falcon House
Greater China
Alibaba has a number of entertainment-related companies under its umbrella including Alibaba Pictures.
About 56.8m shares, of the 176.4m shares sold, were bought by Morgan Stanley.
Yet, TikTok’s popularity could make it tough to get legislation approved in an election year.
India
Google had removed over 100 Indian apps.
Top players roll out new initiatives to woo consumers willing to pay for convenience and accessibility.
Singapore
However, Sea posted a loss of $111.6m in Q4 2023—the second loss-making quarter last year.
Prosus, General Atlantic, Peak XV Partners and Sofina had asked India’s company law tribunal for a stay on the rights issue.
Zomato is the most-valuable internet stock in Asia’s third-largest economy
Google has sent notices to Matrimony.com, which runs BharatMatrimony, and Info Edge, which runs a similar app Jeevansathi.