Digital Transformation

AirAsia triggered the financial distress criteria, known as PN17 back in July 2020. This came after its external auditor flagged significant uncertainties that cast doubt on its ability to continue as a going concern.

Restaurant Brands International Inc. (RBI) has announced a regional partnership to leverage Ant Group’s digital solutions to accelerate digital transformation of its restaurant operations across Asia Pacific. This deal further complements RBI’s continuous efforts to support local franchisee operations and expansion in the Asia Pacific market.

Qashier announced Thursday a $4.7 million fundraise from Exor Seeds, the technology-focused venture arm of Exor. The company will be expanding its presence in Malaysia following the fundraise, as entering other parts of the Southeast Asian market is next in line as part of the company’s growth plan.

Continued shifts in consumer and merchant behaviour, matched with strong investor confidence, have ushered Southeast Asia (SEA) into its “Digital Decade” - and the region is on its way towards $1 trillion gross merchandise value (GMV) by 2030.

The announcement also comes as Malaysia aims to create more tech startups, unicorns and accelerate M towards becoming an innovation-driven economy.

To support the development of the local EV industry, the government proposes to provide import duty, excise duty and sales tax exemptions on EVs.

The firm is also expected to rake in revenue of more than $6 million this year as demand for its astrology, tarot card reading services gained popularity.

The digital ID will use the latest biometric technology such as fingerprints, facial or iris recognition.

AirAsia Digital is valued at around $1 billion based on all-share transaction in July 2021, as reported by the company, Credit Suisse said in the report dated Oct 5.