Author: Iselle Chua

Chinese digital healthcare technology firm DXY has raised $500 million financing led by Trustbridge Partners and backed by Tencent Investment and GL Ventures, according to an announcement. With the fresh funding, DXY will strengthen collaboration with professional doctors and enterprises so as to give play to the expertise of all sides and be a guide for healthy life, said DXY Founder and Chairman Li Tiantian. As Chinese people’s awareness of health and consumption rises and changes, the medical and health industry is accelerating its development in the online landscape.  In July 2020, DXY released a “dual-core strategy” that connects its…

Chinese AI industrial robotics startup Mech-Mind Robotics (Mech-Mind) has recently completed its B+ round of fundraising. Backed by Sequoia Capital China and Source Code Capital, the B+ round raised almost US$15 million, bringing the total amount raised across all rounds to approximately US$40 million. The success of this round reflects Mech-Mind’s rapid development, enormous potential, superior quality, and advanced technological solutions, the company said. Mech-Mind Robotics utilizes cutting edge deep learning, 3D vision and motion planning technology to put intelligence into industrial robots. The startup provides an all-in-one solution for industry end users looking to harness artificial intelligence in industrial robots. “We…

HONG KONG – Hang Lung Properties announced that Grand Hyatt, a luxury hotel brand under Hyatt, has been appointed to operate the company’s new luxury hotel in Kunming, Yunnan’s capital city in Southwest China. The new Grand Hyatt Kunming hotel is scheduled to open in mid-2023. Grand Hyatt Kunming will become part of the mixed-use Spring City 66 development in the heart of Kunming that comprises a shopping mall, a 66-story Grade A office tower, and luxury branded residences. Featuring 332 guestrooms and suites, state-of-the art amenities and extraordinary dining varieties, the hotel will cater to the most discerning corporate…

Philippine-listed food and beverage kiosk operator Fruitas Holdings Inc (FHI) announced the opening of its first franchised store in Dubai, marking its overseas expansion The store, operated under the Fruitas House of Desserts brand, started operations on December 1, 2020. The first Fruitas Holdings overseas kiosk is located inside BurJuman, a prime shopping mall in Dubai. The Fruitas House of Desserts outlet in Dubai offers several product lines such as fruit shakes, pearl shakes and milk tea, fresh fruit desserts, halo-halo and fresh lemonades. Fruitas offers fresh beverages and Filipino desserts to both locals and overseas Filipinos living in the…

Microsoft’s venture fund M12 has lead the Series A funding in Andor Health, the company that harnesses machine and human intelligence to change the way care teams connect and collaborate. Financial details of the funding round were not disclosed but Andor Health said M12’s investment comes as it has shown quick growth and success with ThinkAndor, its artificial intelligence and machine learning-powered virtual health program. “I am proud that Andor chose M12 to lead their Series A round. Their ML-powered virtual patient care platform is already demonstrating positive ROI for their customers, mitigating appointment drop-off and saving physicians time during…

Online Education Services (OES) has expanded its operations in the US, UK, and South African through a majority stake investment in Construct, an online learning design firm. Both companies combined serve learners in more than 190 countries to enable a fast, financially viable, and student-focused offering in online education. They work with education partners to develop world-class online programs that provide a rich and immersive learning experience. “The investment in Construct builds on our purpose to deliver quality online learning for partner universities and organizations, and their students, regardless of location,” said Denice Pitt, CEO of OES. “Our shared people-first focus…

Cebu-based retailer Metro Retail Stores Group, Inc. (MRSGI) posted a net loss of P421.87 million in the nine months of 2020, a reversal of the P398.19 million net income recorded in the same period last year. The net loss is driven by 12.1% decline in revenue to P22.22 billion from the previous P25.28 billion as MRSGI’s general merchandise business dipped by 47.1% against the same period last year, reeling from the impact of the pandemic and relate disruptions on consumer spending and customer traffic. Blended same store sales likewise contracted by 16.6% over the same period last year due to…

Hyundai Mobis (KRX: 012330) announced on 15th that the company has hired executive vice president, Axel J. Maschka as head of the Global Sales Division. Previously Maschka served as a senior VP and Executive Committee member at Valeo in charge of Sales and Business Development. Maschka has spent 30 years in the automotive industry after graduating from the University of Stuttgart in electrical engineering including a two years tenure at Telecom Paris Tech. German native, Maschka has worked in various automakers and suppliers including, Volvo, Mercedes-Benz, Bosch, and Continental. Recently, in France, he served as a founder and CEO at…

Invest Hong Kong (InvestHK) released a joint report with KPMG that highlights Hong Kong’s enhanced role as a smart supply-chain services hub, with the city driving digital production through the use of technology tools in the 3D and virtual sampling space. Additionally, with a high concentration of sourcing talent, the city is the ideal regional and global sourcing hub to manage supply chains, and looks set to benefit as a centre for professional services, especially in the areas of environmental, social and governance (ESG) matters and sustainability. The report, entitled “Future of Sourcing: 2021 and Beyond”, draws on the insights…

EuroSports Global Limited, a distributor of luxury automobiles, announced that its wholly-owned subsidiary EuroSports Technologies Pte. Ltd (EST) had raised US$1.3 million from first round of fund raising in November 2019 andUS$5 million in funds today for its electric vehicle brand, Scorpio Electric. US$5 million of these funds were raised through share subscription agreements with investors while an additional amount of US$1.3 million was raised from EST convertible loans, where these loans would be automatically converted into EST Ordinary Shares after the closing of the EST Fundraising in accordance to the terms of the EST Convertible Loan Agreements. These funds…

In a joint statement issued yesterday, the World Tourism Organization (UNWTO) and the International Maritime Organization (IMO) highlight the importance of the cruise sector for the world economy. According to UNWTO, the cruise sector supports 1.2 million jobs and contributes US$150 billion to the global economy every year. Tourism is vitally important for Small Islands States, where it sustains millions of livelihoods and brings substantial socio-economic benefits. Since cruise operations were suspended worldwide due to the COVID-19 pandemic, the industry has been reviewing and enhancing its protocols to identify ways to go further in protecting the health of passengers, crew…

Aspen Group (ASX:APZ) announced that it has entered into conditional contracts to acquire a residential land site of approximately 11.5 hectares at 32 Sims Road, Mount Barker, South Australia under a Mortgagee in Possession sale. Settlement is expected to occur by the end of 2020 after the new title is created. The property adds to the group’s substantial cluster in South Australia alongside Adelaide Caravan Park, Highway 1, Coorong Quays and CREST at Woodside, and adds to the company’s local team of employees, consultants, and contractors. The purchase price is $4.51 million, equating to approximately $40,000 per hectare, $46,000 per…

H&M is thrilled to announce a collaboration with fashion brand The Vampire’s Wife, the brainchild of British designer, model and muse Susie Cave. A fashion insider favorite, The Vampire’s Wife is known for flattering silhouettes, glamourous details and an unbridled celebration of women and the female form. The collection is progressive in both attitude and fabrication; garments are made from sustainably sourced materials. The collection will be available in selected stores and online at HM.com beginning October 22nd. “It was a great honour to be asked to be the designer and the creative director of The Vampire’s Wife’s collaboration with H&M. H&M…

Listed developer Cebu Landmasters Inc (CLI) posted Php 10.5 billion reservation sales in the first nine months of the year, a 14 percent increase year-on-year. The sustained demand is a welcome news for the industry and a strong validation of CLI’s housing leadership in the Vismin market. CLI is on pace to surpass its 2019 sales performance in spite of the challenges brought about by the 2020 pandemic. The listed company registered P3.1 billion reservation sales in the third quarter of 2020. CLI homes from Php 1.5 million to Php 3 million that carry the popular economic brand Casa Mira…

Singapore Post has acquired a 38-per cent stake in Freight Management Holdings (FMH), a fourth-party logistics service company based in Victoria, Australia, for A$85 million (US$60.4 million), according to a disclosure. The purchaser will acquire the aggregate 38-per cent equity interest pursuant to the acquisition through a combination of subscription of new ordinary shares to be issued by FMH and the acquisition of existing ordinary shares from certain existing shareholders of the Australian firm. Singapore Post said it intends to set up a new holding company in Australia to hold its equity interest in FMH on completion of the acquisition.…

Huobi Global, the world’s leading digital asset exchange, today announced support for the Australian dollar (AUD), British pound sterling (GPB), and Euro (EUR) through Banxa, an internationally compliant fiat-to-crypto gateway solution. The partnership allows users in Australia, UK, and the European Union to purchase cryptocurrencies with their official fiat currencies. By integrating with Banxa’s payment solutions, Huobi is able to provide users with more flexibility and choice in payment methods, while also enabling a seamless user experience. Users can access the new fiat-to-crypto gateway directly from the Huobi OTC site and deposit AUD, GBP, or EUR to begin trading cryptocurrencies in…

Digital Wine Ventures Limited has entered into an agreement to acquire 100 per cent of the issued capital of Wine Delivery Australia, a South Australian-based fourth-party logistics provider servicing the wine industry. As part of the acquisition, James Munn, founder and General Manager of Wine Delivery Australia, will be joining WineDepot executive team as Head of Business Development (Logistics). Wine Delivery Australia is an Adelaide-based company that provides 4PL wine logistics services to South Australian wineries that allows them to dispatch orders directly to customers from their cellar doors, more economically than through the mainstream carriers. The key difference with…

Global health and beauty e-commerce leader iHerb is committing US $100 million in Russia within the next two years to better serve Russian communities it has supported for many years. This commitment will include a variety of areas such as exporting Russian products, partnerships with Russian logistics companies, expansion of our technology development center, and the building of robotic fulfillment centers. Such investments will enable vital health and personal care products to arrive at our customers’ homes more quickly and efficiently in furtherance of iHerb’s mission. “We are committed to our mission of offering our global customer base the earth’s best selection…

At the special stockholders’ meeting of China Banking Corporation (China Bank, PSE stock symbol: CHIB) held virtually on October 1, 2020, the stockholders ratified the Centennial Stock Grant Plan for employees of 100 China Bank shares per year of service and voted to elect Claire Ann T. Yap as the Bank’s 4th independent director. To commemorate China Bank’s 100th anniversary this year, the Board approved on August 5 the Centennial Stock Grant Plan. New shares will be issued from its authorized but unissued shares in favor of China Bank Group regular employees and certain other officers and contractual employees (as…

Residential developer Cebu Landmasters Inc. (CLI) recently marked the completion of the three-tower P1.2 billion Mesaverte Residences in Cagayan de Oro City and has started to turnover more than half of the development’s 700 units to their owners. Mesaverte Residences is expected to generate about P2 billion gross revenues for CLI which posted record reservation sales from housing projects of P7.43 billion in 1H 2020, a growth of 41% year-on-year. Mesaverte Residences is the third completed project of CLI’s mid-market Garden Series, the listed company’s top revenue contributor in H1 2020. Construction work governed by strict safety guidelines continued even…