SE Asia Digest: Phinma unit buys Bataan terminal; OJK licence for Santara

Source: Phinma Corp

Philippines-listed Phinma Corp unit has acquired Bataan cement processing terminal for $15.4 million while Indonesian regulator OJK has granted the first equity crowdfunding licence to fintech firm Santara.

Phinma unit acquires Bataan terminal for $15.4m

Philippines-listed holding firm Phinma Corp announced on Friday that its 60 per cent-owned subsidiary Philcement Corporation signed an agreement for the acquisition and takeover of Bataan cement processing terminal for 800 million pesos ($15.4 million).

The Bataan facility is expected to be functional by year-end. Philcement is Phinma’s vehicle for its cement industry comeback and is expected to contribute to the growing demand for reliable and quality cement and construction materials in the Philippines.

Phinma has investments in education, property development, and hospitality. It recently invested $50 million in Vietnam’s Song Lam Cement Joint Stock Corporation, a subsidiary of the Vissai Group.

OJK grants first equity crowdfunding licence to fintech firm Santara 

Indonesia’s Financial Services Authority or OJK has granted the first equity crowdfunding licence to Yogyakarta-based fintech firm Santara, the regulator said in a statement.

Under the equity crowdfunding licence, startups are allowed to raise funding through the stock market.

The regulation also stipulated that the public offering should be implemented within 12 months, with the maximum fundraising cap fixed at Rp 10 billion ($709,845).

The equity crowdfunding move allows startups access to resources in the capital market.

Founded in 2012, Santara has disbursed loans over Rp 5 billion ($353,686), pooling funds from 1,082 investors. There are at least 15 small and medium businesses that have secured funding through Santara, ranging from Rp 76 million ($5,355) to Rp 1.2 billion ($84,558).

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.