Daiwa Capital Markets Singapore and 9 Basil have launched a joint venture for M&A advisory services in Thailand, while Grab has suspended collecting any commissions from drivers and restaurant partners until Feb 28, to support the community in the country.
Daiwa, 9 Basil launch M&A advisory in Thailand
Daiwa Capital Markets Singapore Limited — wholly owned by Japan’s Daiwa Securities Group Inc — and Bangkok-based investment firm 9 Basil Co. Ltd have launched a DC Advisory Co. Ltd arm in Thailand to provide M&A advisory services.
DC Advisory (Thailand) will offer clients across Thailand and the wider Southeast Asian region access to mergers and acquisitions through joint venture advisory, corporate restructuring, and capital market transactions support.
The newly-announced joint venture brings together a large pool of resources from the Daiwa Securities Group, paired with a strong network of prominent families across Southeast Asia through 9 Basil. It is set to fuel trade channels between Thailand and Japan when it comes to transactions and corporate contracts.
9 Basil is a private equity and distressed debt platform that operates as part of Blueprint Forest Group. It is independently managed to allocate capital to leading businesses that would further enhance their position of strength with the value of 9 Basil as partners. 9 Basil currently employs over 12 expert staff in Bangkok.
Established in 1902, Daiwa Securities has a market capitalisation of approximately $8 billion with over 15,000 employees globally. The group operates in retail, wholesale (global markets and investment banking), asset management, investment, and other services.
Globally, Daiwa Securities is involved in M&A advisory under the DC Advisory brand.
Grab suspends commissions in Myanmar
Southeast Asian super app Grab has suspended collecting commissions from its drivers and restaurant partners starting from Tuesday (Feb 16) until Feb 28, in a bid to do its part to support the community in the country.
The tech firm is also topping up an additional 50% in earnings for every completed delivery for its GrabFood bikers, Grab said in a Facebook post on Monday. “We will not be collecting any commission from our drivers and restaurant partners. This means 100% of the amount you pay for your ride or food order goes to our drivers and restaurant partners,” the company said in the post.
Myanmar’s military seized power on Feb 1 in a coup against the democratically-elected government of Aung San Suu Kyi, who was detained along with other leaders of her party, Reuters reported.
Grab said the last two weeks have been difficult as disruptions in internet connectivity, public transportation, and uncertainty over the on-ground situation have made it hard for the communities in Myanmar to complete essential tasks. “It has also put the livelihoods of the communities we serve at risk. Many of our driver and delivery-partners could not earn an income,” the company added.
Grab said it hopes these initiatives will help its partners through these trying times and the company remains committed to supporting Myanmar in creating income opportunities for its partners.