News

Singapore’s CapitaLand India Trust secures $157M to develop Navi Mumbai data center

Singapore's CapitaLand India Trust (CLINT) has secured a five-year construction loan of INR13 billion ($157 million) from J.P. Morgan India to finance phase 1 development of its data center in Navi Mumbai. Securing this onshore loan in India reflects CLINT’s disciplined capital management through a diversification of its funding sources.

AIZEN Global and Grab forge partnership in mobility finance

AIZEN Global, a South Korea-based artificial intelligence (AI)-powered financial services, has announced a strategic partnership agreement with Grab, Southeast Asia's leading super app. This dynamic collaboration is set to revolutionize the emerging realm of e-mobility finance, aligning with Grab's ambitious plans to introduce approximately 50,000 electric…

Grab delivers first adjusted profitable quarter as topline continues to grow

Southeast Asia superapp Grab said Thursday it has delivered the first adjusted earnings before interest, taxes, depreciation (EBITDA) profitable quarter as topline continues to grow. The group's adjusted EBITDA turned positive for the first time at $29 million for the third quarter, an improvement of $190 million compared to adjusted losses before interest,…

American Express expands Singapore Decision Science Center of Excellence

American Express has on Thursday announced it is deepening its investment in artificial intelligence (AI) with the expansion of the Singapore Decision Science Center of Excellence (CoE). The CoE will now extend beyond credit decisioning and fraud prevention use cases to focus on data science applications in the areas of marketing and servicing model…

Airwallex sees strong growth momentum in Singapore, reports 13 times of revenue growth

Global payment firm Airwallex has seen strong growth momentum in Singapore as businesses recovered from the pandemic and the world reopened. In the first half of 2023, Airwallex Singapore saw 13 times of growth (1,213 percent) in year-on-year revenue and more than 11 times of growth (1,015 percent) in total transaction volume.

Wise Platform partners Agoda to provide payment options for travellers

Wise Platform, Wise’s infrastructure solution for banks and major enterprises, has joined forces with Agoda, a digital travel platform, to provide faster and more convenient payment options for travellers worldwide.

Vietnam’s GSM launches electric taxi service in Laos

Green and Smart Mobility JSC. (GSM), a ride-hailing firm founded by the owner of Vietnamese electric vehicle (EV) maker VinFast, has launched its pure electric taxi service in Vientiane, Laos, to promote green mobility in Southeast Asia.

MRANTI opens autonomous vehicle experimental lab to accelerate Malaysia’s mobility sector development

Malaysian Research Accelerator for Technology & Innovation (MRANTI), through the Ministry of Science, Technology and Innovation (MOSTI), on Thursday launched the country’s largest multi-scenario autonomous vehicle (AV) experimental laboratory known as AV XL at MRANTI Park, Malaysia.

Singapore’s LXA raises $10M in seed funding round led by NEA

LXA, a Singapore-based fintech startup, has on Wednesday announced the completion of its $10 million seed funding round led by New Enterprise Associates, Inc. (NEA). The round also saw participation from Openspace Ventures and EDBI.