News
Grab reports first quarterly profit; to buy back shares
Southeast Asia superapp Grab Holdings Limited has posted a profit of $11 million in the fourth quarter ended December 31, 2023, compared to a net loss of $391 million in the prior year period. The achievement was primarily due to the improvement in group adjusted EBITDA, fair value changes in investments, and lowered share-based compensation expenses.
MDEC partners BMCC to bolster digital trade and economic cooperation between Malaysia and UK
British Malaysian Chamber of Commerce (BMCC) and the Malaysia Digital Economy Corporation (MDEC) have on Thursday announced the signing of memorandum of understanding (MOU) in a move to bolster digital trade and economic cooperation between the United Kingdom and Malaysia.
Singapore coffee startup Prefer raises $2M in seed funding led by Forge Ventures
Singapore-based Prefer’s bean-free coffee has raised a $2 million seed round to secure global coffee supply. The firm said in a statement on Thursday that Forge Ventures led the round with participation from 500 Global, A*ccelerate, Better Bite Ventures, Sopoong Ventures, SEEDS Capital, Entrepreneur First and Pickup Coffee.
India’s Varaha raises $8.7M in Series A funding round led by RTP Global
Varaha, an India-based full-stack climate-tech company that specializes in generating carbon credits from nature, has on Thursday announced it has raised $ 8.7 million. The Series A funding round is led by RTP Global with contributions from Omnivore and Orios – both returning investors – and marks the inaugural investment by Norinchukin Bank, one of Japan's…
Helicap partners Bank Danamon to support alternative lending in Indonesia
Singaporean finTech firm Helicap Pte Ltd and Indonesian lender PT Bank Danamon Indonesia Tbk (Danamon) have on Thursday announced a strategic partnership to support fintech and alternative lending industry in Indonesia.
Malaysia’s TNB to develop hybrid hydro-floating solar photovoltaic projects
Malaysian utility firm Tenaga Nasional Berhad (TNB) is planning to build hybrid hydro-floating solar (HHFS) Photovoltaic (PV) projects under National Energy Transition Roadmap (NETR) at its hydro dam reservoirs.
US’s Aptar Digital Health acquires Singapore healthcare firm Healint
Aptar Digital Health, a global digital health solutions provider, has on Wednesday announced that it has acquired Healint, a Singapore-based digital health company. The acquisition of Healint aligns with Aptar Digital Health strategy to broaden its portfolio in neurology and strengthen its global footprint for digital health deployment.
Indonesia issues regulations requiring Google, Meta to compensate news publishers – report
"The spirit of the regulation is... to ensure a fair cooperation between media and digital platforms, provide clearer cooperation framework between them," Jokowi was quoted as saying.
Delivery Hero ends talks on potential sale of selected SEA foodpanda business
Delivery Hero SE, Germay-based local delivery platform, has on Wednesday announced that it has terminated discussions with the main negotiating counterpart regarding a potential sale of its foodpanda business in selected Southeast Asian markets covering Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar and Laos.
