China
Alibaba’s Southeast Asian arm Lazada marks new year with layoffs in Singapore – report
Junior and senior employees from multiple departments, including the commercial and marketing teams, were affected.
Chinese logistics services provider BEST to open its sorting center in Malaysia in 2024
China-based supply chain and logistics services provider BEST Inc said that its largest sorting center in Southeast Asia, which is located in Selangor, the most developed state in Malaysia, is slated to open in 2024. In addition to build a 220,000-square-meter facility in Malaysia, the company aims to connect Thailand, Vietnam, Singapore and Malaysia in its…
China’s EV boom signals the end of the age of oil
China boasts the world’s largest EV market and a 2000 km EV road trip across the country by Bloomberg News offered a glimpse of the end of the age of oil.
Four Chinese EV makers ready to start production in Indonesia – report
The four EV producers have also expressed their readiness to follow the regulations in Indonesia, including complying with the 40 percent domestic component level rule.
GoTo struck TikTok deal to stop market share slide, CEO says – report
TikTok Shop more than doubled its market share to 11 percent this year, Walujo said on a conference call with investors on Thursday. GoTo’s share of the pie shrank to 23 percent from 28 percent over that span, he was quote as saying.
Animoca Brands and T&B Media Global partner to expand ecosystem capabilities in Web3 space
Hong Kong-based gaming company Animoca Brands and Thailand-based Intellectual Property (IP) company for entertainment technologies T&B Media Global (T&B) have announced a partnership to expand ecosystem capabilities in Web3 space.
China’s Tik Tok to invest $1.5B in Indonesia’s GoTo
Chinese entertainment platform Tik Tok will invest $1.5 billion in Indonesia's largest digital ecosystem PT GoTo Gojek Tokopedia Tbk (GoTo Group). As part of the agreement, Tokopedia and TikTok Shop Indonesia’s businesses will be combined under the existing PT Tokopedia entity in which TikTok will take a controlling stake.
Zetrix and Beitou launch digital ID and driver’s license services on blockchain
Zetrix, a layer 1 public blockchain platform of Malaysia-based MY E.G. Services Bhd, has on last Saturday announced the launch of its groundbreaking Digital Credentials platform, ushering in a new era of secure, convenient, and interoperable credentials verification.
Singapore and China enhance digital finance and capital markets cooperation
The Monetary Authority of Singapore (MAS) has on Thursday announced new digital finance and capital markets initiatives to expand its financial cooperation with China. The initiatives are cross-border E-CNY pilot between China and Singapore, and launch of the exchange traded funds (ETF) product link between the Singapore Exchange (SGX) and Shanghai Stock…
Insurers, insurance asset managers expect a wave of M&A activity to hit Singapore and Hong Kong in 2024, says Clearwater Analytics
Insurers and insurance asset managers are expecting a wave of merger and acquisition (M&A) activity to hit Singapore and Hong Kong in 2024, as the region echoes the wider global industry trend towards consolidation, Clearwater Analytics said Tuesday.
