People
BYJU’s handed out pink slips to 2,500 employees less than six months back.
BYJU's fires another 1,200 employees, more layoffs to follow
People Digest: Grab appoints SG politician to handle public affairs; FWD names new CEO
SEA Digest: SG's BandLab acquires beat platform Airbit; Indonesia's Bio Farma, SIRCLO launch Medbiz
HK-based New World weighs sale of majority stake in $1.4b premium office tower
Sequoia Capital leads $12m Series A round in SG-based Freightify
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Bangladesh B2B startup ShopUp secures $30m debt financing
Creador, Navegar invest in Philippines-focused discount retail chain DALI Stores
Former Gojek exec’s SaaS startup klikit raises $5.6m in seed funding
PH’s Foxmont Capital Partners raises $21.3m for second venture fund
SG wealth management platform Kristal.AI eyes $30m Series B funding
Ling has been an MP for the currently governing People’s Action Party for three terms since 2011.
Deals
Bio Farma has estimated a 49% drop in revenue in 2022.
New World is offering a guaranteed capitalisation rate to attract investors.
The round also saw the participation of Trail Mix Ventures and Alteria Capital.
Greater China
WeMo plans to expand its services to SE Asia, with an emphasis on Indonesia and Thailand.
Singapore
The company is said to be eyeing an expansion to Indonesia, Vietnam, and Malaysia.
Lufax’s net profit dropped 67% to $190m in Q3 2022 from the same period of 2021.
Rest of Asia
AXA IM Alts had entered Japan’s homecare market in December.
Philippines
Fund II exceeds Foxmont’s $20-million target.
