Tencent Holdings

Sea rolls with Garena’s gaming business but e-commerce unit Shopee remains in the red

(Sept 16): When Shopee was launched four years ago, the event was held at a second-floor café with about 30 people attending. On Sept 3, the e-commerce subsidiary of New York-listed, Singa pore-based Sea officially opened for business in its own brand-new six-storey building, with Deputy Prime Minister Heng Swee Keat as the guest of honour.

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What's behind Alibaba’s quest to raise US$30 billion?

SINGAPORE (Aug 12): Why would a hugely profitable, cash-flush firm raise more money than has ever been raised by a listed company? That is the question befuddling investors. Hangzhou-based, New York-listed e-commerce behemoth Alibaba Group Holding, China’s largest company by market capitalisation, currently has nearly US$30 billion ($41.46 billion) in cash and cash equivalent on its balance sheet. Two months ago, Alibaba filed with Hong Kong’s Securities and Futures Commission to raise at least US$20 billion more in a secondary listing in Hong Kong later this year.

What's behind Alibaba’s quest to raise US$30 billion?

SINGAPORE (Aug 12): Why would a hugely profitable, cash-flush firm raise more money than has ever been raised by a listed company? That is the question befuddling investors. Hangzhou-based, New York-listed e-commerce behemoth Alibaba Group Holding, China’s largest company by market capitalisation, currently has nearly US$30 billion ($41.46 billion) in cash and cash equivalent on its balance sheet. Two months ago, Alibaba filed with Hong Kong’s Securities and Futures Commission to raise at least US$20 billion more in a secondary listing in Hong Kong later this year.

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Underserved remittance service in Singapore gets boost from pilot using blockchain-enabled tokenised currency

(Aug 5): In June, the Monetary Authority Singapore announced that it would be issuing two full digital bank licences and three digital wholesale bank licences to players of non-bank parentage. But there are very few underserved segments in the local financial services. On July 29, in a results briefing, Piyush Gupta, CEO of DBS Group Holdings, said he viewed micro small and medium-sized enterprise (SME) financing and moneylending as underserved parts of the financial network.  

Underserved remittance service in Singapore gets boost from pilot using blockchain-enabled tokenised currency

(Aug 5): In June, the Monetary Authority Singapore announced that it would be issuing two full digital bank licences and three digital wholesale bank licences to players of non-bank parentage. But there are very few underserved segments in the local financial services. On July 29, in a results briefing, Piyush Gupta, CEO of DBS Group Holdings, said he viewed micro small and medium-sized enterprise (SME) financing and moneylending as underserved parts of the financial network.  

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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.

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