On location

Indonesia-based Baskit, a technology and financial services platform focused on digitizing offline distribution networks in Southeast Asia, has secured $4.4 million in a Series A funding round.

Ryt Bank has exceeded 1.2 million users just over seven months after its launch in August 2025, the lender said in a release on Tuesday.

Malaysia’s electric vehicle (EV) transition continues to progress at a steady but gradual pace, shaped by fuel subsidy structures, infrastructure constraints and intensifying competition among automakers, according to research houses.

POSCO Future M will invest at least $400 million in Song Cong 2 Industrial Park in Thai Nguyen province, northern Vietnam, in order to build its first large-scale battery materials manufacturing facility in Vietnam.

ZTE Corporation, a China-based information and communication technology solutions provider, has entered into a memorandum of understanding (MoU) with CIMB Bank Berhad (CIMB), to establish a strategic cooperation framework aimed at supporting digital infrastructure development across ASEAN.

LankaPay, Sri Lanka Tourism Development Authority, and Alipay+ have entered into a strategic collaboration aimed at boosting Sri Lanka’s tourism appeal and attracting international visitors, particularly from Asia and the wider Asia-Pacific region.

Endowus, the Singapore-based wealth advisory and investment platform, has on Tuesday announced a partnership with Copenhagen Infrastructure Partners (CIP), a Denmark-based renewable energy infrastructure investments platform, to expand access to institutional-grade renewable energy investments.

The Asia Pacific region is expected to generate around two-thirds of the world’s new retail sales over the next five years, driven by a consumer base of more than 4.3 billion people, 18 megacities, and a rapidly expanding middle class.

Southeast Asia’s ecommerce platform gross merchandise value (GMV) grew 22.8 percent year-on-year in 2025 to reach $157.6 billion in 2025, as leading platforms returned to growth while continuing to improve infrastructure, fulfilment, and customer experience, Momentum Works said Tuesday.

Indonesia’s data center sector is entering a structurally differentiated growth phase, with Batam increasingly positioned as a regulatory compliance and Singapore-linked overflow hub, while Jakarta continues to anchor core hyperscale and enterprise demand, according to BMI Country Risk and Industry Research.