Author: Business News Asia

PopChill, a luxury fashion marketplace based in Taiwan, has successfully raised an investment of US$1.9 million. Leading investors for this round include ITIC, AVA Angels Fund, 500 Global, Acorn Pacific Ventures, and Darwin Venture, pushing PopChill’s total funding to US$5.2 million. Operating uniquely from typical e-commerce platforms, PopChill uses an authentication model where sold items are authenticated and inspected for quality before reaching buyers. This system, particularly useful for second-hand luxury goods, has addressed major concerns related to online transactions. Collaborating with AI firm Entrupy, PopChill boasts a 99.1% accuracy rate in its product authentication using machine learning. In just…

In a bid to support micro, small, and medium-sized enterprises (MSMEs) nationwide, Globe Business recently launched the Retail Revolution in Davao City, emphasizing the importance of connected retail for businesses. The regional roadshow, featuring industry leaders as speakers, showcased Globe Business solutions designed for Retail MSMEs, aiming to integrate both physical and digital shopping experiences. KD Dizon, Head of Globe Business, affirmed their commitment to the evolving retail sector, emphasizing their readiness to assist businesses in their digitalization journey. The Davao event highlighted a keynote from industry expert, Jayson Lo, who emphasized resilience and innovation as key success components. Attendees…

East Ventures, a prominent venture capital firm in Indonesia and Southeast Asia, has unveiled a new $30 million “East Ventures Healthcare Fund” dedicated to advancing healthcare solutions in Indonesia. This fund is aimed at nurturing innovative startups that address the specific challenges and prospects of the Indonesian healthcare sector. Willson Cuaca, Co-Founder and Managing Partner at East Ventures, remarked on Indonesia’s vast potential as a dynamic healthcare hub in Southeast Asia. Cuaca emphasized the fund’s intent to bolster healthcare innovation in the region and underscored East Ventures’ unwavering dedication to this cause. Previously, the firm actively invested in regional healthcare…

Philippine President Ferdinand Marcos Jr. unexpectedly halted the rollout of the nation’s inaugural sovereign wealth fund on Wednesday, mere months after endorsing the project to international investors. The suspension is intended to reassess the implementing rules and regulations, ensuring the fund’s primary goals align with national development and that adequate measures are in place for transparency and accountability, as indicated by the Office of the Executive Secretary. Previously, Marcos Jr. had actively promoted the Maharlika Investment Fund overseas. The official launch date, however, remained undisclosed. Some experts raised questions about the fund’s financial backing, transparency, and administrative framework. The initial…

Australian-based Digital Classifieds Group (DCG) has cemented its place as Asia’s second-largest property portal operator by acquiring Lamudi’s online property platforms in Indonesia and the Philippines from the dubizzle Group. This acquisition trails DCG’s earlier takeover of Bproperty, Bangladesh’s top portal, in January 2023. DCG now oversees premier real estate websites in five booming Asian markets, bolstering its global staff to over 900. Founded in 2013, Lamudi transitioned from advertising to transaction-based models, propelling its growth. Kian Moini, Lamudi’s CEO, expressed enthusiasm about the merge, praising both firms’ shared vision. DCG CEO, Mathew Care, voiced his excitement, highlighting DCG’s strategic…

PetPal, a portfolio company of Globe’s 917Ventures, is transforming the landscape of veterinary practice in the Philippines. With its innovative solutions, PetPal has successfully onboarded over 1,000 licensed and accredited veterinarians and partnered with more than 300 trusted vet clinics across the country. PetPal’s commitment to excellence is evident in its user-friendly platform, which is trusted by millions of pet owners nationwide. It does not only offer a seamless experience for pet owners but also provides veterinarians with an opportunity to expand their clientele and increase their revenue. Dr. Paulo Mercado, DVM, shared how PetPal helped him grow his clientele.…

In a heartwarming display of canine camaraderie, over 200 pugs and their delighted owners came together at SM Seaside City Cebu to participate in the Seaside Pack Walk on October 15. This special gathering was organized in celebration of National Pug Day, a day dedicated to these charming and affectionate dogs. The Seaside Pack Walk, which brought smiles and wagging tails to the mall’s corridors, was made possible through the collaborative efforts of Cebu Grumble and Island Rescue Organization. Pug lovers from all around Cebu joined forces to create an unforgettable event for these adorable four-legged friends. National Pug Day,…

dashcon 2023, the digital marketing roadshow that integrates artificial intelligence (AI) sophistication with human insight in digital marketing and business growth, is kicking off in Cebu City, according to DashoContent. dashcon 2023 is a community-driven roadshow that will journey through Luzon, Visayas, and Mindanao. Its theme, “I’M NOT A ROBOT”: Navigating Business and Marketing in the AI Era, emphasizes the powerful combination of human creativity and AI capabilities. This duo is revolutionizing digital marketing and business strategies not just in the Philippines but globally. Attendees can look forward to a series of events, starting in Cebu on October 26, 2023,…

Annual investment volume in multifamily residential in Asia Pacific is expected to more than double in size by 2030, with investments to potentially cross $20 billion by the end of the decade. Driven by factors including urbanisation, high renter population, and stretched housing affordability, multifamily residential will transition from a peripheral to major asset class by the beginning of the next decade, according to a report by global real estate consulting firm JLL. In the first three quarters of 2023, multifamily investment volumes in Asia Pacific have outperformed the broader market. During the first nine months of 2023, investments in…

D&L Industries was recognized alongside other top Philippine publicly listed companies by the Institute of Corporate Directors (ICD) for its outstanding corporate governance practices based on the ASEAN Corporate Governance Scorecard (ACGS). It is the 4th consecutive year that D&L Industries received such recognition from the ICD. The ACGS measures the performance of the companies in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability thru timely disclosure of material information, and how the board guides the company strategically, monitors the management, and ensures the board’s…

Blackstone (NYSE:BX) today announced that funds managed by Blackstone Real Estate have secured A$1.45 billion (US$930 million) for a sustainability-linked loan, representing the largest of its kind to date in Australia’s industrial sector and a continuation of its efforts to build high-quality, energy efficient logistics portfolios around the world. This marks Blackstone’s first sustainability-linked financing in Asia Pacific and broadens Blackstone Real Estate’s pool of addressable debt capital. “We’re proud to be at the forefront of the industrial sector in Australia, where we’ve built a high-quality portfolio of more than 140 logistics assets and executed some of the country’s largest…

The tourism industry is now on its feet as a cruise ship from Xiamen, China made its maiden voyage to the Subic Bay Freeport with a thousand passengers. The Blue Dream Star is the first luxury vessel of the eleven scheduled voyages to drop anchor at the Freeport from October 12 to November 21, 2023. The said cruise line is the first to offer outbound cruises from China since the onset of the pandemic. The arrival of this cruise ship was made possible through the determination and keen efforts of SBMA Chairman and Administrator Jonathan Tan, whose thrust is to…

Two Century Pacific Group-led companies, Century Pacific Food Inc., (PSE:CNPF) and Shakey’s Pizza Asia Ventures Inc. (PSE:PIZZA) received recognition from the Institute of Corporate Directors (ICD) at the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards Night. CNPF is one of the Philippines’ leading food and beverage companies, while PIZZA is the country’s leading casual dining chain of restaurants and food service groups. The two companies, which are part of the Century Pacific Group of companies, were honored for their continuous adherence to the best corporate governance standards and practices among Filipino publicly listed companies. The Golden Arrow Award is…

The Philippine National Police (PNP), in close coordination with GCash, has recently arrested a suspect who was using his online selling business to gain access to a victim’s private photos or videos for ‘sextortion’, an act of extorting money by threatening to expose sensitive materials. The PNP identified the suspect as Ronald Hipol, 54, an online seller from Victoria Homes, Brgy. Tunasan, Muntinlupa. Hipol allegedly used a social media account under the name ‘Jerry Kantar’ to threaten the victim that he would circulate her sensitive videos unless she paid him P10,000. Hipol also managed to infiltrate the social media account…

DITO CME Holdings Corp, the information and communications technology (ICT) sector holding firm of the Udenna Group, announces the transfer of Ernesto (Eric) R. Alberto from DITO CME president to chief executive officer of its subsidiary, DITO Telecommunity (DITO Tel). Alberto replaces Dennis A. Uy who remains chairman of DITO Tel while DITO CME Chief Operating Officer Donald Patrick L. Lim is simultaneously appointed as DITO CME president in an acting capacity. “Eric’s wealth of experience in senior capacities in the banking and telecoms sectors spanning several decades, will be very valuable in his new role as DITO Tel CEO.…

Singapore-headquartered global technology company REPUBLIK has announced raising $6 million in its Seed funding round that valued the company at $75 million. The round saw participation from leading investors, including OKX Ventures, 6th Man Ventures, Arcane Ventures, CMS Holdings, Comma3 Ventures, Define Ventures, Enjin, FBG Capital, HTX Ventures, Mirana Ventures, Oracles Investment Group, Signum Capital, Sora Ventures, and UOB Venture Management. In a statement, REPUBLIK said the capital raised is instrumental in building its platform and developing cutting-edge, web3 creator tools on the blockchain. Currently in beta across web app, iOS, and Android platforms, REPUBLIK has garnered substantial traction, empowering…

When the Mall of Asia opened in 2006, Henry Sy, Sr. was walking around the SM Store alongside Ma. Cecilia Abreu, who was then Assistant Vice President for Store Operations. As is usually the case with Mr. Sy, he dropped by the Shoe section, checked the shoes and sandals, and then asked a few questions to the sales clerks. “Marami pa ba nito? Are these fast-moving?” The questions did not stop there. Holding one sandal, he asked Abreu a question that stayed with her: “Can our customers still afford to buy our sandals at this price?” “Ang iniisip niya talaga…

Leading digital solutions platform Globe recently scored a three-peat after being named by top regional human resource publisher HR Asia as one of the Best Companies to Work for in Asia (Philippines Chapter) from 2021 to 2023. The award was presented to Globe at the recent gala night held at the Manila Marriott Hotel. Aside from securing this honor for three consecutive years, Globe first won it in 2019. “It fills me with immense pride to share that the Globe Group has once again been named one of the Best Companies to Work for in Asia by HR Asia! And…

Globe has announced it is offering free connectivity, including roaming call, text and data to Filipinos in Israel to help them keep in touch with loved ones amid reports of the worst militant attacks in the area. Globe postpaid and prepaid customers currently using roaming services in Israel may connect with their loved ones with free 15 minutes of incoming and outgoing calls, 15 texts to all networks, and 1GB data (whichever service is currently available) good for 7 days at no extra cost. To avail of the free roaming service, Globe customers only need to connect to Globe’s roaming…

Manulife Investment Management today announced the appointment of Kenny Lam to the position of Chief Investment Officer and Head of Transactions, Asia Pacific Real Estate, effective as of October 4, 2023. In his new role, Kenny will be responsible for expanding the team’s geographical footprint in Asia Pacific, managing Manulife Investment Management’s real estate portfolio, identifying and investing in new real estate investment opportunities. “We are pleased to welcome Kenny back to our team, and we look forward to his contributions in the continuous growth of our Asia Pacific real estate business. Kenny will play a key role in expanding…