Author: Business News Asia

The North Luzon Airport Consortium (NLAC), comprising Filinvest Development Corporation, JG Summit Holdings Inc., Philippine Airport Ground Support Solutions Inc. and Changi Airport Philippines, a wholly owned subsidiary of Changi Airports International, was awarded the operations and maintenance (O&M) contract of the Clark International Airport. According to a disclosure to the Philippine Stock Exchange, the Notice of Award was given to NLAC for the project, dubbed a hybrid Public Private Partnership project with a 25-year concession, by the Bases Conversion Development Authority (BCDA). “We are thankful for this opportunity. The consortium envisions to create a new identity for Clark Airport…

SoftBank Vision Fund, a subsidiary of Japan’s SoftBank Group Co, has led the $400-million Series C funding round in US-based biotechnology firm Relay Therapeutics, according to a statement Thursday. The financing round was also participated by Foresite Capital, Perceptive Advisors, and Tavistock Group. Existing GV, Casdin Capital, BVF Partners, EcoR1 Capital, Alexandria Venture Investments, and an affiliate of D.E. Shaw Research also backed the round. Proceeds from this financing are anticipated to be used to accelerate the implementation of Relay Therapeutics’ long-term strategy. Relay said the fresh funds will support the expansion of the company’s discovery efforts, advance existing programs…

Lighstpeed Venture Partners, an American venture capital firm focusing on early stage investments in the enterprise technology and consumer space, is raising a total of $560 million for VC funds focused on China. In its pair of filings with the US Securities and Exchange Commission, Lightspeed Venture said it is raising $360 million for a fourth Chinese venture capital fund and $200 million for a Chinese select fund. The two funds – Lightspeed China Partners IV and Lightspeed China Partners Select I GP – add to Lightspeed’s 15 funds that have raised a combined $7.6 billion, according to Crunchbase data.…

Two luxury iconic brands – Aston Martin Lagonda and Waldorf Astoria Hotels & Resorts – have signed a new, four-year global partnership that brings two enduring icon of global luxury together to launch a new era of performance and hospitality. The two brands promise a season of unforgettable opportunities, bringing together impressive destinations, exceptional service and the world’s most dynamic and beautiful luxury sports cars. “Aston Martin Lagonda was a natural choice for a partnership of this magnitude,” said Dino Michael, global head, Waldorf Astoria Hotels & Resorts, Hilton. “At Waldorf Astoria, experience and service are at the core of…

Philippine-based Jollibee Foods Corporation (JFC), the largest Asian food service company, announced that it has completely acquired US burger chain Smashburger by acquiring the 15 percent stake it does not own in SJBF LLC, the parent company the entities comprising the Smashburger business for $10 million. Jollibee paid Smashburger Master LLC in cash through its wholly-owned subsidiary Bee Good! Inc (BGI), according to its disclosure to the Philippine Stock Exchange. Bee Good! Inc previously held 85-per cent stake in the burger chain after acquiring an additional 45-per cent stake for $100 million, paid in cash, last February. Read more here:…

Listed property developer DoubleDragon Properties Corp is establishing wholly owned selling arm subsidiaries in Singapore, Hong Kong, Japan, London, Italy, and the US to focus on the international pre-selling of Hotel101 projects in the Philippines. DoubleDragon has a strong in -house domestic sales force consisting of over fifty experienced property specialists. The company’s new sales recorded across all projects have exceeded Php 1.90 Billion 2018 to date an increase of 142.9% year-on-year, majority of new sales delivered was attributable to Hotel101 Fort, which hit a record P1.65 Billion in sales since its launch just last March 2018. DoubleDragon chief investment…

Gaw Capital Partners today announced that the firm, through a fund under its management, and consortium partners, including Goldman Sachs, have won a bid to acquire a retail portfolio comprising 12 shopping centers in Hong Kong from Link Asset Management Limited at HK$12.01 billion ($1.4 billion). The portfolio is comprised of a number of strategically-located properties across Hong Kong Island, Kowloon and the New Territories that sit in the heart of densely-populated communities. The GFA of the portfolio totals 1.1 million sq. ft. of prime retail space and comes with over 4,700 parking spaces that are connected to highly-convenient transport…

One of the major concerns that come to mind when couples decide to get divorced is the cost of the proceedings, specifically the lawyer’s fees. Finding a good lawyer that also offers affordable rates is a difficult balance to strike. However, it’s possible. The most important thing is to make sure that you have good quality counsel on your side when undergoing a divorce in Singapore and make sure to approach a lawyer as soon as you decide to split from your spouse. Read on for some helpful tips on how to find a good divorce lawyer in Singapore that won’t…

Centara Hotels & Resorts, Thailand’s leading hospitality group, has made its debut in Qatar with the launch of a spectacular new seaview hotel in Doha, the country’s rapidly expanding capital city. Welcoming its first guests in December, Centara West Bay Residences & Suites Doha is located in the West Bay district which is home to many of downtown Doha’s most dramatic skyscrapers. Overlooking the glittering Arabian Gulf, the hotel is adjacent to the lively Doha Corniche and 25 minutes from Hamad International Airport. Guests at Centara West Bay Residences & Suites Doha can choose from a range of 265 stylish…

Thailand’s hotel operator Centara Hotels & Resorts announced it has signed management agreements for three new properties with a combined total of 216 keys in Laos. In a statement, Centara said it inked the agreement with Asia Investment, Development & Construction Sole Co Ltd (AIDC), a well-established enterprise in Laos. The three new hotels are the latest evidence of Centara’s expansion strategy, which calls for doubling the number of properties under its management during the next five years. This latest development will see Centara’s hotel count in Laos reach four with Centara Plumeria Resort Pakse already well under development and…

When you ask kids these days what they want to become when they grow up, you’re likely to get answers like an astronaut, a YouTuber (yes, that’s a thing), an F1 driver, or even a makeup artist. For Dr Ganesh Ramalingam, his dream has always been to become a doctor. His passion for helping others through medicine was born when as a kid, he used to look up to the way his family GP was always able to heal him and his family members when they got sick. About Dr. Ganesh Ramalingam’s Work As Dr. Ganesh Ramalingam got older, he…

If you’ve ever watched the popular TV show called “My 600 Pound Life”, then you know that bariatric surgery is often the only hope that severely obese patients have at living a normal life again. However, it’s after a great amount of consideration that people finally decide to have this surgery, and one of the most important concerns is the bariatric surgeon that’s going to perform the procedure. While the number of bariatric surgeons is growing, it might take a while before you can find a specialist that really suits your needs.  It’s important that you work with a surgeon…

Hong Kong-based blockchain startup AERGO has secured $30 million in a venture funding round backed by Sequoia Capital China, GBIC, Neo Global Capital, and several other investors. The startup previously raised $8.9 million in a Series B round in June of this year which included a follow-on investment from Samsung Ventures from a previous funding round. AERGO is an open source-based platform supported and developed by Blocko, a Samsung Ventures-funded startup and one of Korea’s largest blockchain infrastructure providers. The company was founded by Blocko’s leadership team consisting of enterprise-IT and blockchain veterans. Read full story here: Blockchain Startup AERGO Secures…

Sheraton Hotels and Resorts, part of Marriott International, has announced the completion of the $50-million transformation of the Sheraton Grand Sydney Hyde Park, formerly known as Sheraton on the Park. With the refurbishment, the iconic Sydney hotel will also receive the brand’s esteemed ‘Grand’ designation. Founded in some of the world’s most treasured destinations, Sheraton Grand hotels are recognized for their iconic locations, cultivated sense of design, exceptional service, exemplary dining concepts and exquisite spa experiences. “We are honoured to receive the coveted designation of Sheraton Grand,” said David Fraser, General Manager, Sheraton Grand Sydney Hyde Park. Read full story…

Foreign tourists visiting Korea will get the chance to experience the country’s annual festival of shopping, tourism, and culture dubbed “Korea Grand Sale 2019”. Visit Korea Committee will host the annual festival of shopping, tourism, and culture from January 17 to February 28 in order to promote foreign tourists to visit Korea and increase their expenditure throughout the winter. Throughout the 43 days of the event, Korea Grand Sale will provide grand scale discount promotion including air/hotel fares so that this event will be stabilized as a representative winter tourism event in Korea. Jin Air up to 85% discount, JEJU…

Global hospitality firm Hyatt Hotels Corporation has announced the opening of Andaz Capital Gate Abu Dhabi, which turned iconic “Leaning Tower of Abu Dhabi” into the first Andaz branded hotel in the Middle East, HotelNewsAsia.com has reported. Aligned with the brand ethos of authentically bringing the local neighborhood to life, Andaz Capital Gate Abu Dhabi offers inspiring experiences, helping guests immerse themselves in their surroundings and feel like a local from the moment they arrive. “As we weave in the sights, sounds and tastes of the local Abu Dhabi culture, the opening of Andaz Capital Gate Abu Dhabi marks a…

Australian insurance giant QBE announced today changes to its structure, including the merging of its Asia Pacific business into its international business, which includes its European operations. “Following the underwriting remediation in Asia, which is now largely complete, Asia Pacific will no longer be a separate division,” QBE said. Effective 1 January 2019, QBE’s operations will comprise: International – which will include European Operations and Asia. Richard Pryce, currently CEO European Operations, will become CEO International and a new senior leader for Asia will be appointed, reporting directly to Richard. Australia Pacific – will include Australia, New Zealand, the Pacific…

Australia and New Zealand Banking Group (ANZ New Zealand) delivered a statutory profit of NZ$1,986 million for the financial year to 30 September 2018, up 12 per cent on the prior financial year. Cash profit was NZ$1,904 million, up 3 per cent. ANZ New Zealand Chief Executive Officer David Hisco said the strong result reflects the performance of the economy, credit quality improvements and ANZ’s continued focus on digital innovation and customer service. “The continued strength of the economy – strong exports and tourism sector aided by a lower dollar, continued demand for houses and growth in household incomes –…

Arabella Hotel Sedona Undergoes $4m Renovation Tucked within 8 acres of scenic Sedona, the inspiring Arabella Hotel surrounded by desert vistas undergoes a $4-million property wide renovation. Originally built as the Sedona Lodge in the 1940s, the structure was the very first hotel in town constructed to accommodate Old Hollywood directors, actors and crews, including the legendary John Wayne. Later transformed into the King’s Ransom Hotel, the property enjoyed further fame in the 1960s when Elvis Presley and Hollywood came knocking again. The famed historical site makeover includes remodeled guest rooms, hotel lobby, all building exteriors, complete landscaping throughout and…

Are you looking for the best eats in Singapore at awesome discounts? Look no further than the Chope Deals Page. That’s where you can find the best value for money buffet deals in Singapore for up to 50% discounts. We understand that dining out in Singapore can be quite pricey unless you know where to get the best dining deals. And we are not talking cheap low-quality dishes here but real meals where you can spoil yourself and splurge on Singapore’s finest for much less than you’d spend on a regular meal at an average restaurant. If you’ve had a busy…