Tencent Holdings

Synagie inks deal with China's Weimob to help Southeast Asian SMEs penetrate China's e-commerce market

SINGAPORE (June 10): Synagie Corporation, the e-commerce enabler, announced that it has signed an agreement with a wholly-owned subsidiary of Weimob to offer its integrated cross-border e-commerce and advertising solutions that will help SMEs in Southeast Asia (SEA) penetrate China’s behemoth social e-commerce market.

Angry K-Pop fans spur probe into Sea

(June 7): The Philippines has begun an investigation into Sea Ltd. online mall Shopee after fans of K-pop girl group BlackPink complained it mishandled promotions around a meet-and-greet event.

The trade and industry ministry is considering sanctions against Shopee or ordering a refund for affected customers, Trade Secretary Ramon Lopez said. “We need to protect consumers who participated. We need to know who’s at fault,” Lopez said in an interview with CNN Philippines.

Tech companies, network effect, universal apps: Where the future and the past are different, yet similar

SINGAPORE (Apr 29): A significant portion of the value we have seen created in technology has been credited to the network effect (or positive feedback loop) associated with digital platforms. Think Facebook, Apple, Amazon.com, Google (owned by Alphabet), Alibaba Group Holding and Tencent Holdings, all of which have cemented near-monopolistic positions in their respective businesses and generated hundreds of billions in value for shareholders.

China wins allies for web vision in ideological battle with US

(Apr 15): A swathe of the world is adopting China’s vision for a tightly controlled internet over the unfettered American approach, a stunning ideological coup for Beijing that would have been unthinkable less than a decade ago.

Tencent-backed Sea to raise US$1.35 bil in US share sale

(Mar 6): Sea, operator of Southeast Asia’s biggest gaming platform, has raised US$1.35 billion ($1.83 billion) after increasing the size of a follow-on stock offering.

The Singapore-based internet company sold 60 million American depositary shares at US$22.50 each, or about a 6.5% to its last close in New York. An affiliate of Tencent Holdings as well as a separate firm linked to one of Sea’s directors are expected to buy 6.3 million of those shares at those terms, Sea said in a statement.

The world's top IPO venue for 2018 sees worst returns in decade

(Dec 19): Hong Kong is host to the world’s busiest venue for initial public offerings this year. And the worst losses in a decade.

A boom in technology listings has propelled local deal value to US$35.7 billion ($49.1 billion), ahead of the New York Stock Exchange, according to data compiled by Bloomberg. Yet companies that raised at least US$100 million dropped 6.2% in their first month of trading on average, the worst return since 2008. Weighted by IPO size, losses reached a record 6.9%, according to data going back to 1994.

DBS CEO says fintech firms need more scrutiny by regulators

(Sept 6): Regulators need to increase their scrutiny of non-bank firms that are moving into the financial business, according to the chief executive officer of DBS Group Holdings, Southeast Asia’s largest lender.

“Absolutely,” Piyush Gupta said when asked at a Bloomberg forum in Singapore whether more regulation is needed for technology and other firms that are competing with traditional banks for payments and settlements business.

China's Meituan Dianping sets HK IPO valuation at up to US$55 bil

(Sept 3): China’s Meituan Dianping, an online food delivery-to-ticketing services platform, has set an indicative price range of HK$60 to HK$72 ($10.48-$12.58) per share for its initial public offering (IPO) in Hong Kong, valuing itself at up to US$55 billion, four people with direct knowledge of the matter said.

Meituan, already one of China’s most valuable internet firms, could raise as much as US$4 billion ($5.5 billion) before the exercise of a “greenshoe” or over-allotment option, whereby additional shares are sold depending on demand.

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Sea loss widens on investment in Shopee e-commerce platform

(Aug 22): Sea Ltd., operator of Southeast Asia’s biggest gaming platform, posted a wider quarterly loss as it invests in building up e-commerce platform Shopee.

The net loss was US$250.8 million ($342.8 million) in the three months ended June compared with a loss of US$92.1 million a year earlier, Singapore-based Sea said in an emailed statement. Total revenue at the company rose to US$183.8 million from US$101.5 million.

Chinese EV maker NIO takes on Tesla

(Aug 14): NIO Inc., the electric-car maker backed by technology giant Tencent Holdings, filed for a US$1.8 billion ($2.5 billion) initial public offering as it gears up to compete against the likes of Tesla Inc.

The company applied to list its American depositary shares on the New York Stock Exchange under the symbol NIO, and the US$1.8 billion registration amount is a placeholder to calculate filing fees.

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