India
Founder Byju Raveendran will take on a more “hands-on” approach in daily operations.
Higher EV deliveries drive VinFast's revenues higher in Q1, but losses widen
Indian govt-backed NIIF eyes $1b for second private markets fund: Report
BII, NDF commit nearly $30m to BlueOrchard's second climate insurance PE fund
Abu Dhabi Islamic Bank in talks to buy $1.1b stake in Indonesian lender BSI: report
Vietnam Digest: Masan said to weigh consumer unit IPO; Beacon Fund backs Lotus Group
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Chip Eng Seng-linked Invictus sale talks stall as potential PE buyers weigh core terms
Indonesia’s Jago Coffee brews big expansion plans after pocketing fresh funding
HSBC lays off at least a dozen Asia dealmakers amid weaker activities
DEG commits to invest $15m in Wavemaker’s fifth SE Asia fund
Indonesian logistics firm Waresix’s revenue tripled but losses surged 2.6x in 2022
Greater China
Alibaba’s shares have declined 27% in the past 12 months, giving it a market capitalisation of some $178 billion.
Indonesia
Among other hurdles, competition has increased in sectors such as ride-hailing and e-commerce.
Singapore
Purchased transportation and labour-related expenses were the biggest contributor.
Losses in 2023 narrowed by around 33% YoY to 3.68 trillion rupiah.
Sharechat’s valuation had reportedly shrunk to $1.5b in end-2023 from $5b in 2022.
DealStreetAsia had reported earlier that LinkAja will be roping in a new global investor.
With cautious spending, the company hopes to clock adjusted Ebitda of +200b rupiah in 2024.
ShopBack’s losses had widened by 27.5% to $60.8m in FY23.
World
TikTok achieved record sales in the US in 2023, according to FT.