Exer Labs, a year-old, Denver, CO.-based fitness startup that uses its edge-based AI and computer vision platform to power its motion coaching apps, raised an additional $2 million in seed funding, bringing its total raised to $4.5m. Investors in the latest round include GGV, Jerry Yang’s AME Cloud Ventures, Morado Ventures, Range VC, Service Provider Capital, Shatter Fund, MyFitnessPal co-founders Mike and Albert Lee, and existing investors Signia Venture Partners and former Zynga COO, David Ko. Exer is launching Exer Studio, a Mac app that delivers a Peloton-style leaderboard and workout stats to any virtual workout using edge-based AI and…
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IMAX Corporation announced that the company scored a record-breaking $13 million opening weekend of the National Day Golden Week holiday in China, a historically strong box office period that runs from October 1 to 8 this year. The figure marks IMAX’s best-ever opening weekend for the National Holiday, up 25% over last year despite a 75% capacity limitation across the country. Films playing in the IMAX China network for the holiday include Enlight’s “Jiang Ziya: Legend of Deification,” Beijing Culture’s “My People, My Homeland,” Tencent’s “Vanguard” and Lian Ray Picture’s “Leap.” The films will continue to play in IMAX through the…
United Airlines today announced it will start nonstop service to China four-times weekly between San Francisco and Shanghai’s Pudong International Airport. Beginning Oct. 21, 2020, United will operate four weekly nonstop flights with Boeing 777-300ER aircraft from San Francisco to Shanghai on Wednesdays, Fridays, Saturdays and Sundays. Customers traveling from Shanghai will return to San Francisco on Mondays, Tuesdays, Fridays and Sundays. Tickets are available for purchase on united.com and the United mobile app. United will continue operating four weekly flights between San Francisco and Shanghai and beginning October 21, will no longer be required to stop in Seoul. United offered…
The Government of Canada has pledged to create a million jobs, with a focus on racialised Canadians, young people, and women who have been hit the hardest through the pandemic, according to Restaurants Canada President and CEO Todd Barclay. “Restaurants can play a significant role in feeding the recovery as 260,000 of the jobs still lost due to the pandemic are in our industry alone. Fifty-eight per cent of our industry being women and 31 per cent visible minorities, we can help support the government’s growth plans, but we need government help to get our industry moving,” he added. The…
PayMongo, a Filipino-owned online payment platform, recently secured $12 million in a Series A financing round led by Stripe with participation from the company’s other existing investors – Y Combinator, Global Founders Capital and a new investor, Bedrock Capital. The fresh investment brings PayMongo’s total funding to almost $15 million, just a little over a year since the company launched in June 2019 with a seed round of US$2.7 million, one of the largest among Philippine financial technology startups. “The Series A funding builds on an exceptional first year for PayMongo. We’re thrilled to have amazing investors to support our mission of building the digital…
Aboitiz Equity Ventures (AEV), the public holding company of the Aboitiz Group, posted a 55-percent decline in net income in the first half of 2020 from a year earlier. In a disclosure to the Philippine Stock Exchange, AEV said it ended the first half with P4 billion in net income, 55 per cent lower than the P9 billion recorded during the same period last year. The decline was attributed to the lower income contribution of its largest business unit, Aboitiz Power Corporation (AboitizPower). AboitizPower’s net income contribution to AEV for the first half of the year declined by 57 per…
HANOI, Vietnam – International Finance Corporation (IFC), a member of the World Bank Group, signed a memorandum of understanding (MoU) with the People’s Committee of Hanoi to support its efforts to attract new-generation foreign direct investment (FDI) and diversify its funding sources, thereby sustaining the city’s rapid economic development, competitiveness, and inclusive prosperity. One of the fastest-growing cities in Asia, the country’s capital accounts for one-fifth of Vietnam’s gross domestic product (GDP). Home to over eight million inhabitants, Hanoi attracted $8.45 billion in FDI in 2019, highest among the country’s 63 cities and provinces. The FDI capital flow was highest…
HONG KONG – Crypto.com announced that it has rolled out significant infrastructure upgrades to its Exchange, including a revamped Matching Engine, OMS (Order Management System), and unified REST and Websocket API. The firm said the revamp will lead to a 10x increase in performance and throughput, paving the way for an aggressive product roadmap for the rest of 2020, which includes the launch of margin and derivatives trading. The Crypto.com Exchange launched in Beta last November, which has been one of the key drivers of the company’s rapid overall growth in the past six months, as traders increasingly turn towards…
Mapletree Logistics Trust Management, the first Asia-focused logistics REIT in Singapore, has agreed to acquire a newly-built freehold warehouse in Inala, Brisbane, Australia at a purchase price of A$21.25 ($14.6 million), according to a disclosure. The acquisition is the company’s second logistics facility in Brisbane and will expand its footprint in Australia to a total of 11 assets with a combined gross floor area of 277,115 square meters. The property is strategically located in Inala, an established industrial location, and is well connected to the Brisbane city centre, Brisbane Airport (35km) and the Port of Brisbane(40km) via key road infrastructure…
Mula nang pumutok ang pandemyang dala ng coronavirus disease of 2019 (Covid-19), marami sa mga Pilipino ang nawalan ng trabaho at pagkakakitaan dulot ng pagsara ng mga negosyo at pagawaan. Marami and umaasa nalang sa tulong na bigay ng gobyerno na paminsa-minsan ay delayed kung dumating. Ang iba ay umaasa sa ayudang bigay ang mga kapamilya at kaibigan. Subalit, habang ang iba ay naghahanap ng mapagkakakitaaan, marami naman ang relax na relax lang at nasa bahay nagtatrabaho ang kumikita. Anu-ano nga ba ang puwedeng pagkakakitaan sa panahon ng pandemya? Kung meron kang computer at internet connection sa bahay, hindi mo…
Philippine-listed diversified conglomerate Filinvest Development Corp (FDC) disclosed that its net income in the first three months of this year grew by 8 per cent to P3 billion (US$60 million) from P2.8 billion in the same quarter last year. In a disclosure to the Philippine Stock Exchange, the Gotianum family-led FDC also added that its consolidated net income was recorded at P4 billion, up 5 per cent from the same period last year. The company said it managed to post a respectable net income growth amidst the COVID-19 pandemic due to the strong performance of its banking subsidiary, EastWest Bank,…
Jollibee Foods Corporation (JFC), the largest food service company in the Philippines and one of the largest in Asia, announced that it had successfully priced a US$600 million Reg S only US dollar-denominated guaranteed senior perpetual capital securities offering with an initial distribution rate of 3.9 percent, non-call (5 years) and payable semi-annually. The Securities will be issued by Jollibee Worldwide Pte. Ltd, a wholly owned subsidiary of JFC. This transaction represents the first ever bond or perpetual securities issuance from JFC and the first time that JFC has tapped the capital markets since its Initial Public Offering in 1993.…
Fruitas Holdings has fortified its financial position using proceeds from its IPO. Estimated net proceeds from the sale of new shares of approximately Php820m will boost its cash balances and cut its debt levels. On a pro forma basis and based on its latest audited financial statements as of June 30, 2019, consolidated cash balance exceeded Php1bn immediately post-IPO. Even after the planned debt repayment of Php150m, pro forma cash balance of approximately Php850m will far exceed the notes payable balance, which is expected to be halved from around Php409m to just above Php200m by end of the year, using…
Sabah Chief Minister Datuk Seri Mohd Shafie Apdal is in Kobe, Japan for a trade mission that seeks to lure Japanese investors and businessmen from 140 companies to invest in Sabah, according to a Bernama report. Apdal began the first leg of his Japan trade mission by addressing 200 investors from different firms, explaining at length the many business potentials in Sabah due to its strategic location as a gateway for Japan traders to expand their trade to the ASEAN countries. “We lie along-side the Lombok-Makassar Straits shipping route, which is emerging as an important route in Southeast Asia,” he…
(BUSINESSNEWSASIA) – A week after launching its new brand, products, and Series B investment, CoHive announces its partnership with the Center for Creative Economy and Innovation (CCEI) Daegu to support the establishment of startup network between Daegu City, South Korea and Indonesia. This collaboration is marked by the Memorandum of Understanding signing ceremony between the two parties on Wednesday (26/06) at CoHive 101, Jakarta, Indonesia. As the largest CoWorking space company in Indonesia with approximately 9,000 members (per June 2019), CoHive commits to be a startup community builder. Meanwhile, CCEI Daegu is a non-profit organization under the Ministry of Science,…
Personal loans are a type of loan that are repaid in installments. That means a borrower can borrow a fixed amount of money and repay it with interest in monthly installments over the duration of the loan. Once the borrower has paid the loan in full, his account is eventually closed. If they need additional money, they must apply for a new loan. Most people are constantly searching the internet on personal loan in Singapore. Many customers apply for personal loans and use the proceeds to pay off their credit cards. This comes with several benefits. First, you will be…
Hong Kong-based private equity firm PAG has secured a total of $6 billion in capital commitments for its third Asia-focused private equity buyout fund – PAG Asia III LP, the firm announced Monday. The fund was launched in June and was closed on November 16, less then three years after the close of its predecessor, PAG Asia Fund II, which is fully invested or committed. “The strong interest in our Asia-focused buyout fund indicates the trust our investors have placed in us. We will continue our focus on delivering solid returns to our investors,” Weijian Shan, Chairman and CEO of…
Revolution Precrafted, the global leader in branded, limited edition prefab structures today announced that it will start producing prefabricated medical pop-up structures, as it signed a non-exclusive dealership agreement with Zimbabwe-based investment firm, African Tsaleach Private Limited. Zimbabwe is the first African market for the prefab firm, and 25th overall, globally as it continues its worldwide expansion mode. “We are excited about the great market interest in our prefab structures. We are happy to expand to Africa because we believe that our prefab structures can make a difference in the lives of the people in the continent,” said Robbie Antonio,…
Suzhou-headquartered biotechnology firm Tot Biopharm has raised $102 million in Series B funding round backed by China Universal GP Ltd and several domestic and foreign investors. In a statement, Tot Biopharm said the funding round was also participated by investors who joined in earlier rounds, including Center Laboratories Group, Vivo Capital, Chengwei Capital, Yuanta Financial Holdings Group, and Cathay Capital. The company, which focuses on the R&D, manufacturing and marketing of high-end anti-tumor drugs, said the fresh funds will be used to accelerate development of its key pipelines. The company now has over 10 drugs in the R&D stage, including…
Centara Hotels & Resorts, Thailand’s leading hotel operator, announced a long-term lease agreement for Centra by Centara Government Complex Hotel & Convention Centre Chaeng Watthana in Bangkok, Thailand. Centara’s Chairman of the Board Suthikiati Chirativat signed the agreement for the 204-room hotel and conference property in the Thai government community 10 minutes from Bangkok’s Don Mueang International Airport. Centara had managed the property for its owner, Dhanarak Asset Development Company Ltd., since 2011. The 20-year, around 1.2 Billion Baht lease deal with Dhanarak effectively turns ownership over to Centara. “Centra by Centara Government Complex continues to play a vital role…