Visa to invest, collaborate with Gojek on enhancing digital payments across Southeast Asia

SINGAPORE (July 17): Visa has invested in Gojek, the mobile on-demand service and payments platform, as part of the latter’s ongoing Series F fundraising round.

Visa and Gojek will also collaborate to provide greater options on cashless payments and more seamless experiences for consumers across Indonesia and Southeast Asia.

Go-Jek snags investment from Thailand's largest lender

(July 11): Ride-hailing giant Go-Jek has secured an investment from Siam Commercial Bank, the Thai lender that counts King Maha Vajiralongkorn as its biggest shareholder, according to people familiar with the matter.

It’s unclear how much Thailand’s biggest bank is investing in Go-Jek, the people said, who asked not to be identified because the matter is private. Their partnership will help Indonesia’s most valuable technology startup bolster its financial services, while Siam Commercial is counting on online growth to help increase revenue, they added.

Grab receives additional US$300 mil investment from Invesco

SINGAPORE (June 27): Local ride hailing and financial e-services platform Grab has received an additional investment of US$300 million ($406.3 million) from existing investor Invesco.

This brings the global independent investment management company’s total investment in Grab to US$703 million. Invesco earlier this year acquired OppenheimerFunds, which initially invested US$403 million in Grab in July 2018.

Philanthropy is not enough to sustain Asia's growth

SINGAPORE (June 21): Amid escalating geopolitical tensions and uncertainty over global growth, there is one region presenting hope and opportunity: Asia. The International Monetary Fund expects it to grow 5.6% this year, accounting for two-thirds of global economic growth.

Yet, not all its inhabitants are experiencing the fruits of the region’s progress. Studies have shown that income inequality and inequality of opportunities still loom in Asia and can hamper economic growth.

YuuZoo sells 2.9% stake in video streaming unit for US$3 mil

SINGAPORE (June 19): YuuZoo Corporation says it has sold a 2.91% stake in its video streaming subsidiary, YuuFlix, for $3 million ($4.1 million) to an unnamed foreign investor which has been fully paid.

The stake corresponds to a valuation of US$100 million, says YuuZoo in a Singapore Exchange (SGX) filing on Wednesday night.

South Korean firm Yanolja that reinvented love hotels gets GIC, Booking funding

(June 11): Yanolja’s gentrification of South Korean love hotels has brought the company a valuation of more than US$1 billion ($1.4 billion) from investors keen to capitalise on the globalisation of a novel approach to short-stay accommodation, its chief executive told Reuters.

The budget hotel and online booking platform operator reached the valuation having secured US$200 million from US peer Booking Holdings Inc and Singapore sovereign wealth fund GIC Pte Ltd, CEO Kim Jong-yoon said.

Assets under management in Asia Pacific to rise up to $40.2 tril by 2025: PwC

SINGAPORE (Jan 22): The asset and wealth management industry in Asia Pacific (APAC) is expected to be the centre for global Assets under Management (AuM) growth in the coming years, according to PwC.

PwC’s Asset and Wealth Management 2025: The Asia Awakening report says APAC AuM is expected to grow at a total compound annual growth rate (CAGR) of 8.7% to US$16.9 trillion ($23 trillion) in 2020 and US$29.6 trillion ($40.2 trillion) by 2025 from US$15.1 trillion in 2017, if protectionism remains limited and geopolitical activity remains relatively sanguine.

Trek 2000 announces US$3 mil investment in local renewable energy solutions company

SINGAPORE (Jan 14): Trek 2000 International is acquiring a 7.5% stake in energy solutions company Terrenus Energy for US$3 million ($4.06 million).

See: Tracking the financial shenanigans at Trek 2000

FOX Chinese movie channel to invest in mm2 Asia's slate of 4 feature films

SINGAPORE (Dec 10): FOX Networks Group Asia (FNG Asia) flagship Chinese movies channel, SCM will be investing and co-producing a slate of four feature films developed by mm2 Entertainment, a wholly-owned subsidiary of mm2 Asia.

In a media release issued on Friday, FNG says, “FNG’s investment springs from its longstanding commitment to make bold investments in premium original productions, as well as quality acquired content, to ignite imaginations in Asia.”

UOB aims to boost bilateral cooperation between Singapore and China with new partnership

SINGAPORE (Nov 20): United Overseas Bank (UOB) is partnering Suzhou Industrial Park Administrative Committee (SIPAC), which governs and administers China’s Suzhou Industrial Park (SIP), to facilitate the expansion of companies through cross-border trade and investment.

The bank signed a memorandum of understanding (MoU) with SIPAC at the 12th Meeting of the Singapore-Jiangsu Cooperation Council today.

Peter Foo, president and CEO of UOB (China) (front row, second from left), at the MoU signing ceremony

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