The Malaysian PM called the amount "little" compared with the "huge killing" the bank made.
India: Facebook invests $25m in social commerce startup Meesho: Report
Singapore’s Trax acquires US-based retail rewards app Shopkick
Indonesian P2P lender KoinWorks closes $12m Series B funding round
Temasek co-leads $130m Series E in US-based lending platform Blend
India Dealbook: TCS raises stake in Japanese JV; Affle acquires RevX Inc
Sieu Viet Group acquires Vietnamese HR platform MyWork
Piramal Group in talks with SoftBank, GIC to raise up to $750m
Myanmar’s Irrawaddy Green Towers on the block as PE investors seek exit
SG’s Tin Men Capital raises $20.8m from 50 investors for first fund
Sinopharm, Cedarlake and SG’s Novena form $150m SE Asia healthcare fund
Investigators allege about $1 billion in 1MDB funds flowed into the bank accounts of former PM Najib Razak.
TPG Capital Asia will provide financing to the investment vehicle buying the business as well as strategic and operations support.
It is in advanced talks to sell a portion of its 40% Weststar holding to the company’s controlling shareholder, Malaysian businessman Syed Azman Sye
Policy & Regulations
Malaysian agencies under different ministries are in charge of tech-related matters, including MaGIC, Cradle Fund and Malaysia Digital Economy Corpora
Women make up more than 30% of the boards of top Malaysian lenders.
The new fund will target 25-30 investments in seed to pre-Series A startups with an average ticket size of around $250,000.
Startups participating in NEXEA's program will get mentoring support and have an opportunity to get funded by the VC and its co-investment partners.
The fund aims to provide capital appreciation of 12% internal rate of return per annum at the end of its maturity.
It had earlier launched microfunds for Philippines and Indonesia, and may do one one for Thailand next.
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