Vietnam
Some Vietnamese do not trust TikTok Shop due to concerns over product quality, privacy, and delivery.
Bahrain's Investcorp sets up $1b fund backed by China's CIC
Hong Kong bourse names Carlson Tong as its new chairman
People Digest: Zoomcar names Indonesia head; Gaw Capital, Blue Owl name top execs
Vietnamese edtech startup Prep closes Series A round led by Cercano, Northstar
Indonesian home decor platform Dekoruma's losses doubled in 2022
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India
Founder Byju Raveendran will take on a more “hands-on” approach in daily operations.
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.