Thailand’s CP Group to buy HK e-commerce platform Chilindo for $18m

Thailand’s top agro-industrial conglomerate, Charoen Pokphand Group, said on Friday it will buy Hong Kong-based e-commerce platform Chilindo for $18 million, expanding its digital business as consumer behaviour changes.

The acquisition by the company’s digital arm, Ascend Commerce, will complement its online shopping WeMall platform and develop Thailand’s digital economy as the e-commerce market grows amid the novel coronavirus pandemic, chief executive Suphachai Chearavanont said in a statement.

WeMall competes with Alibaba’s Lazada, Sea’s Shopee and JD Central, a joint venture between top retailers, Central Group and JD.com.

Thailand is well-known for online shoppers buying directly from merchants through social media platforms like Instagram.

“Chilindo’s plan to enter the international e-commerce market will increase the ability of Thai e-commerce brands to compete on an international level,” Suphachai added as telecommunication operators roll out 5G technology.

CP Group owns Thailand’s second-largest telco operator, True Corporation Pcl, which won 5G licenses in February.

Reuters

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.