With the recent pandemic and more people not wanting to leave their houses to shop than ever, eCommerce has boomed in 2021. The rise in share prices of Shopify (SHOP) and Amazon (AMZN) in the last 18 months is certainly proof of that. That trend is set to continue. Because more shoppers are demanding online service, the industry has grown more and more competitive. That means standards of service and experience are constantly increasing and store owners are jostling for the one-up over their competitors. Independent eCommerce store owners are also having to compete with the likes of Amazon, with…
Author: Chris Lam
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International fintech holding Robocash Group has published its financial results for the previous year. The net profit of the group amounted to $24 million, up 50% from 2019 and total assets grew to $94.5 million, increasing by 57%. In 2021, the group plans to double the yearly disbursement volumes, revenue and profit. Last year, Robocash Group issued $322.5 million worth of loans, 6% more than in 2019. At the same time, its revenue equaled $129.8 million, and the net profit amounted to $23.8 million, showing a 50% YoY growth. Total assets increased to $94.5 million, up 57% from 2019, while…
Loship, Vietnam’s fast-growing one-hour-delivery e-commerce startup, has announced its latest investment from Skype co-founder Jaan Tallinn, who participated through his investment vehicle MetaPlanet Holdings. This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia, the world’s next tech hubs. It is the Vietnamese startup’s scalability, customer-driven mentality, and strong market position that has led Skype co-founder to make his first investment in Southeast Asia. Jaan learned about Loship through an introduction from Vinnie Lauria, Founding Partner of Golden Gate Ventures. Golden Gate Ventures has been a long-time supporter and investor of Lozi and…
New generation financial technology payment firm Sokin has signed a partnership agreement with Mastercard in South Asia to provide its fixed-price payment services in India, Sri Lanka, Bangladesh, Nepal, and the Maldives. The collaboration in South Asia follows announcements in November that Sokin will be a Mastercard principal member and card issuer for Singapore and that the two companies have forged a partnership in Europe and the United Kingdom. Sokin is the only global payments provider that will provide a fixed-fee subscription-based payment service for fast and cost-effective currency exchange with no hidden charges. Mastercard’s global network and extensive reach…
MANILA, Philippines – Filinvest Land Inc announced that its Board of Directors has approved the transition of its wholly-owned subsidiary, Cyberzone Properties Inc (CPI), into a Real Estate Investment Trust (REIT) Company. CPI is intended to be listed on the Philippine Stock Exchange (PSE) in compliance with the minimum public ownership requirements under Philippine securities regulations and the Real Estate Investment Trust Act of 2009. “We are looking forward to listing CPI as a REIT company because we believe that this will unlock the value of our office leasing business. Filinvest has a growing portfolio of recurring income projects and…
M&A deal volumes in the Asia Pacific region increased by 17% between the first and second half of 2020 as the global valuations soared despite the impacts of the COVID-19 pandemic, according to PwC’s latest Global M&A Industry Trends analysis. Covering the last six months of 2020, the analysis examines global deals activity and incorporates insights from PwC’s deals industry specialists to identify the key trends driving M&A activity, and anticipated investment hotspots in 2021. In spite of the uncertainty created by COVID-19, the second half of 2020 saw a surge in M&A activity. “COVID-19 gave companies a rare glimpse into…
Marriott International announced a milestone agreement with Vietnam-based real estate firm Masterise Homes to develop a dual-branded residential and officetel project in Ho Chi Minh City. According to the Savills International Development Consultancy, the agreement marks the largest hotel-branded residential project announced to date worldwide, with close to 4,200 residential and officetel units. The project is anticipated to include branded units from two Marriott International brands – JW Marriott and Marriott Hotels. Expected to open in late 2024, the project will play a key part of an integrated mixed-use complex slated to include residential, offices and commercial units. “We are…
Poptron, a Kuala Lumpur-based lifestyle social commerce platform, announced a $1 million funding from a NASDAQ listed company. This strategic investment enable the company to scale its operations and technology toward being a key regional social commerce platform, Poptron said. Poptron is planning to fundraise the remaining $375,000 on pitchIN – an equity crowdfunding platform in Q1 2021. “These investments will be used to develop the platform’s version 2.0, expected to be up in January 2021 as well as expand the team and begin operations in Singapore by Q1 2021,” the company said. The curated e-commerce site was launched on…
VinFuture Foundation has officially launched The VinFuture Prize, the first global science and technology prize from Vietnam, and one of the world’s largest annual prizes in science and technology. VinFuture Foundation is founded by Mr. Phạm Nhật Vượng, the first Vietnamese billionaire – Founder and Chairman of the largest Vietnamese conglomerate Vingroup Corporation, together with his wife, Mrs. Phạm Thu Hương. The vision of this endeavor is to “create meaningful change in the everyday lives of millions of people by promoting breakthrough scientific research and technological innovations”. With that vision in mind, the VinFuture Foundation works to honour exceptional minds…
As China’s film industry continues its strong post-pandemic rebound, Guangzhou JinYi Media Corporation (002905.SZ), IMAX (NYSE: IMAX) and IMAX China (HKSE: 1970) announced that they have expanded their longstanding partnership with a new 12-theatre agreement. Under the deal, JinYi will upgrade to cutting-edge IMAX® with Laser technology at seven of its most popular IMAX locations — including one of their top grossing theatres in Beijing — and install five IMAX systems at new locations. After today’s agreement, IMAX will have 989 total screens in China including backlogs nationwide. “As a leading film exhibitor in China, JinYi is committed to offering…
Digital payments giant Visa has announced an accelerator program for startups across Asia Pacific that are looking to expand their businesses into new markets. Visa will select an elite group of up to six startups to be part of the first program cohort. The Visa Accelerator Program will focus on creating defined commercial opportunities for the startups to collaborate with Visa and its extensive network of bank and merchant partners in the region. The Visa Accelerator Program is designed for startups that have launched successful solutions in their home markets, but are looking towards the next stage of growth. As…
The United States Agency for International Development (USAID) signed a Memorandum of Understanding (MOU) with the provinces of Palawan, Negros Occidental, and Sarangani to address water security challenges faced by communities there. USAID Acting Mission Director Patrick Wesner led the signing ceremony together with representatives from the Philippine government and private sector, including National Economic and Development Authority Assistant Director General Roderick Planta, Palawan Governor Jose Chaves Alvarez, Negros Occidental Governor Eugenio Jose Lacson, and Sarangani Governor Steve Chiongbian Solon. Palawan, Negros Occidental, and Sarangani all face recurring water shortages amid rising water demand, degraded watersheds, and inadequate access to…
Today, Manulife announced its 3Q20 results. Key highlights include: Net income attributed to shareholders of $2.1 billion in 3Q20, up $1.3 billion from 3Q19 Core earnings of $1.5 billion in 3Q20, down 6% from 3Q19 Strong LICAT ratio of 155% Core ROE of 11.4% and ROE of 16.4% in 3Q20 NBV of $460 million in 3Q20, down 14% from 3Q19 APE sales of $1.4 billion in 3Q20, down 2% from 3Q19 Global WAM net outflows of $2.2 billion in 3Q20 compared with net outflows of $4.4 billion in 3Q19 The impact to net income of the annual actuarial review was…
Asia United Bank’s (AUB) operating income from its core business increased by 25 per cent year-on-year to P11.5 billion. The bank’s net interest income increased by 17 per cent from P6.9 billion in 2019 to P8.1 billion, translating to a net interest margin of 4.3 per cent due to loan portfolio growth. Loans and receivables increased by 4 per cent from P158.6 billion to P165.4 billion in 2020 compared to the same period in 2019. The growth was predominantly funded by low-cost CASA deposits, bringing total deposits to P232 billion from P223 billion in the same period from last year.…
SEOUL, SOUTH KOREA – DHL Supply Chain, the global market leader in contract logistics solutions has appointed Edmund Hsiung as Managing Director of DHL Supply Chain South Korea. He has relocated to Seoul and will manage the business operations across 11 facilities, oversee business strategy, new business development, expansion and accelerate digitalization projects across the country. Alfred Goh, President & Representative Director, CEO Japan and Korea, DHL Supply Chain said, “Edmund has been a valuable addition to DHL’s businesses with his strategic thought processes and vast experience in business development and deal-making. As we endeavor to further develop our business…
FGEN LNG Corporation (FGEN LNG), a wholly-owned subsidiary of First Gen Corporation (First Gen), is exploring the viability of developing small-scale liquefied natural gas (ssLNG) solutions at the First Philippine Industrial Park (FPIP), one of the largest and fastest-growing industrial parks in the Philippines today. FPIP, which is strategically located in the CALABARZON (Cavite-Laguna-Batangas-Rizal- Quezon) industrial region south of Manila, could receive LNG via trucks and specialized insulated containers supplied from FGEN LNG’s Interim Offshore LNG Terminal (Project) which will be located at the First Gen Clean Energy Complex (FGCEC) in Batangas City, approximately 50 kilometers away from FPIP. The…
Pepsi-Cola Products Philippines Inc (Pepsi Philippines) announced Friday that its stockholders have approved the company’s plan to voluntarily delist the its shares that are listed on the main board of the Philippine Stock Exchange. Pepsi Philippines said it has received written assent forms signifying votes in favour of the delisting from stockholders holding, or representing 3.5 million shares or 94.56 per cent of the company’s outstanding capital stock. “Therefore, by written assent, the delisting of the company’s shares from the main board of the PSE is deemed approved by the stockholders,” the company said in a disclosure. Pepsi-Cola Philippines received…
Emerge Gaming Limited (ASX: EM1), the operator of eSports and gaming technology, announced that its MIGGSTER Mobile platform has recorded 3 million pre-registrations. MIGGSTER has recorded a further 1.2 million user pre-registrations, increasing total pre-registrations to 3 million in the first week, which Emerge describes as a demonstration of strong user interest. The strong growth in pre-registrations continues as TIM’s network of more than 12 million affiliate members across 150 countries markets promote MIGGSTER. The introduction of the MIGGSTER spinner incentive tracker rewards network affiliate members for activating user pre-registrations. Affiliates are promoting MIGGSTER through their own social networks using…
Asia Brewery Incorporated (Asia Brewery) and HEINEKEN announced today that they have agreed to transition the AB HEINEKEN Philippines Inc. joint venture to a new partnership structure to produce and distribute HEINEKEN beer brands Heineken® and Tiger® in the Philippines. HEINEKEN will establish a sales and marketing office based in Manila and will engage Asia Brewery to brew and distribute its beers in the country. The expected date for the completion of the process is 31 December 2020. The immediate priority for Asia Brewery and HEINEKEN is to ensure a smooth transition for the employees of AB HEINEKEN Philippines and…
Suntec REIT has entered into a sale and purchase agreement with Canada Pension Plan Investment Board to acquire a 50 per cent interest in two Grade A office buildings with ancillary retail in the heart of Victoria, West End, London for an agreed value of £430.6 million. The remaining 50 per cent interest in Nova Properties will continue to be held by Land Securities Group, the developer and asset manager of the Nova Properties. With the acquisition of Nova Properties, Sunte c REIT’s assets under management will grow from S$10.7 billion to S$11.5 billion across a total of 10 properties…