News
Grab to breakeven earlier than expectation after recording narrowed losses
Singapore-based superapp Grab sees the firm to breakeven earlier than expectation after it recorded narrowed losses in 2022. Grab expects its revenue to come in between $2.20 billion and $2.30 billion in 2023. It also forecast its loss before interest, taxes, depreciation, and amortization to be at between $275 million and $325 million in 2023, smaller than…
Malaysia government in talks with Proton, Perodua to expedite production of national EVs – report
Fitch Solutions has anticipated that passenger electric vehicle (EV) sales in Malaysia will expand in 2023, albeit from a low base, as a result of the implementation of incentives to encourage adoption. The research house said in a recent report that according to its projections, sales of passenger EVs will rise by 82 percent in 2023, reaching a volume of…
Southeast Asia & South Asia see 83% drop in fintech startups; investors opt for risk-averse strategies
The countries of South and Southeast Asia saw a year on year decline of 83 percent in new fintechs in 2022, with only 349 startups emerging in the region, says Robocash Group.
Two members of VinFuture Prize Council and Pre-screening Committee elected to the US National Academy of Engineering
Professor Thuc-Quyen Nguyen, co-chair of the VinFuture Prize Pre-screening Committee, and Dr. Xuedong Huang, a member of the VinFuture Prize Council, have recently been elected to the United States National Academy of Engineering (NAE), which is considered one of the highest honors within the engineering field.
100 Soonicorns selects 24 Founders for its first 2 cohort
ScaleUp Accelerator Sdn Bhd (ScaleUp Malaysia) and Proficeo Consultants Sdn Bhd (Proficeo) in partnership with Penjana Kapital Sdn Bhd (Penjana Kapital) and Malaysia Digital Economy Corporation (MDEC), have announced the selection of the first 2 cohorts of 24 Founders for the 100Soonicorns program designed to groom the next unicorns of Malaysia.
Singapore’s Willowmore secures Series A+ funding from SEEDS Capital, Oriza Greenwillow Technology Fund
Willowmore Pte Ltd, a Singapore-based smart access, internet of things (IoT) and analytics technology company, has on Thursday announced the successful completion of its Series A+ funding round. The funding round was led by Oriza Greenwillow Technology Fund, a venture capital fund set up jointly by Greenwillow Capital Management Pte Ltd, and Oriza Holdings.
GetGo raises $15M investment from Treïs to accelerate shared and sustainable mobility
GetGo Technologies (GetGo), a Singapore-based carsharing platform, has on Thursday announced a SGD20 million ($14.98 million) investment from Treïs, a family-backed investment group.
AIA Singapore partners WhiteCoat to launch digital mental health solution
AIA Singapore (AIA), the leading life insurer in employee benefits, and WhiteCoat Holdings Pte. Ltd. (WhiteCoat), Southeast Asia's leading digital health company, have partnered to provide end-to-end digital mental healthcare solutions covering mental wellbeing through to mental health therapy.
SFC consults on proposals to regulate virtual asset trading platforms
The Securities and Futures Commission (SFC) has on Monday launched a consultation on the proposed requirements for operators of virtual asset trading platforms. Under a new licensing regime to take effect on June 1, 2023, all centralised virtual asset trading platforms carrying on business in Hong Kong or actively marketing to Hong Kong investors will need…
CapitaLand Investment establishes China Data Centre Development Fund with $750M investments
Singaporean investment firm CapitaLand Investment Limited (CLI) has established a China data centre development fund, CapitaLand China Data Centre Partners (CDCP). CDCP has committed to invest in two hyperscale data centre development projects in Greater Beijing, and upon completion of the projects, will add approximately S$1 billion ($750 million) to…
