India
Founder Byju Raveendran will take on a more “hands-on” approach in daily operations.
Blackstone nears deal to sell S Korean pharma wholesaler to MBK Partners
India: Climate-smart deeptech startup Ecozen raises $30m from Nuveen, others
Neon Fund, others invest in SaaS startup ZEPIC and India deals worth 88m
India's Avaada Energy closes $535m refinancing from state-owned lender
Apple removes WhatsApp, Threads from China app store on government order
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Abu Dhabi Islamic Bank in talks to buy $1.1b stake in Indonesian lender BSI: report
PE veteran Bert Kwan’s new investment firm backs Vietnamese clinic chain Heli Care
Shinhan Venture Investment secures first close of Japan-focused fund
Indonesia’s Jago Coffee brews big expansion plans after pocketing fresh funding
IDX-listed laboratory chain Diagnos to buy DNA testing company Asa Ren for $24m
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.