Author: Chris Lam

Global payments firm Airwallex has signed a definitive agreement to acquire CTIN Pay, a Vietnamese Intermediary Payment Service (IPS) provider, as it expands its presence in Southeast Asia. The deal, subject to customary closing conditions, will strengthen Airwallex’s financial infrastructure in the region, supporting Vietnamese merchants in overseas expansion while enabling international businesses to enter Vietnam. The company did not disclose financial details of the acquisition. The move adds to Airwallex’s existing licenses across major Asia-Pacific markets, including Australia, Singapore, Hong Kong, Malaysia, New Zealand, mainland China, and Japan, the company said in a statement. “Vietnam’s fast-growing economy and dynamic…

Micoworks Inc. (pronounced ‘Miko Works’), a developer and provider of the MicoCloud and Micomii marketing platforms, which optimize communication between companies and their customers, has announced the successful raising of JPY 3.5 billion (approximately $24.5 million) in a Series B funding round. Headquartered in Kita-ku, Osaka City, Micoworks is led by CEO Osamu Yamada. The latest funding round was led by Vertex Growth, a growth-stage venture capital fund anchored by Vertex Holdings, a subsidiary of the global investment company Temasek. Participating investors in this round included JAFCO Group Co., Ltd., Mitsubishi UFJ Capital, SMBC Venture Capital, and Mizuho Capital. Existing…

The Philippine government, led by the Bureau of Treasury, has launched the National Insurance Indemnity Program (NIIP) to insure strategic government assets, particularly school buildings, InsuranceNewsAsia.com has reported. Finance Secretary Benjamin E. Diokno emphasizes the program’s role in strengthening financial resilience and safeguarding national assets, aligning with President Ferdinand R. Marcos Jr.’s administration’s focus on infrastructure projects. The NIIP, managed by the Government Service Insurance System (GSIS), is designed to mitigate risks and fund recovery from disasters such as typhoons and earthquakes. This initiative is crucial for a country prone to natural disasters, as noted by Monetary Board Member Rosalia…

Over the past few years, Malta has become a powerhouse for businesses across the globe, particularly for Asian entrepreneurs. The tiny island nation in the Mediterranean, known for its rich history, picturesque landscapes, and friendly locals, also boasts a thriving business ecosystem, which is what we’ll be focusing on throughout this blog post. Advantageous Geographical Location Malta’s geographical location provides an unparalleled advantage to Asian businesses. It is well situated in the Mediterranean Sea, almost as far from both mainland Europe and North Africa, which allows businesses to establish a strong presence in both markets. Its convenient location also provides…

As more businesses turn to freelancers for their project needs, it’s becoming increasingly common to work with people from all over the world. While this can be incredibly beneficial for both parties, it also presents unique challenges when dealing with foreign freelancers. Whether it’s differences in communication styles or cultural misunderstandings, there are a few things you should keep in mind when working with someone from another country. Here are five tips for dealing with foreign freelancers. Be Clear and Concise In Your Communication One of the biggest challenges when working with foreign freelancers is the language barrier. Even if…

 A seismic shift is occurring in the Philippine call center industry, driven by the relentless march of advanced technology. An industry that rose to prominence on the strength of human voice and empathic understanding is now finding new ways to drive customer satisfaction by harnessing the power of Artificial Intelligence (AI), Machine Learning (ML), Big Data Analytics, and the Internet of Things (IoT). “This blend of cutting-edge technology and human ingenuity is reshaping the landscape of customer service, creating exciting possibilities for businesses and consumers alike,” says Ralf Ellspermann, CEO of PITON-Global and one of the world’s leading experts on…

MANILA, PHILIPPINES – Aboitiz Equity Ventures Inc. (AEV) Board of Directors has approved the issuance of fixed-rate retail bonds amounting to Php17.45 billion during their board meeting on May 30, 2023. This constitutes the “Second Tranche Bonds” from the company’s Php30 billion shelf registration program approved by the Securities Exchange Commission (SEC) in 2022. In addition, the board has delegated management with the task of appointing issue manager(s), bookrunner(s), underwriter(s), and the trustee, along with the authority to determine the final interest rate, offer price, tenors, and other conditions of the Second Tranche Bonds. The move is expected to generate…

The Indonesia Investment Authority (INA), ESR Group, and MC Urban Development Indonesia (MCUDI), a subsidiary of Mitsubishi Corporation, have announced a strategic partnership focused on developing modern warehouse facilities in Indonesia. The partners have committed to investments in three logistics parks situated in Cikarang and Karawang, marking a significant stride towards long-term collaboration. This partnership represents INA’s first foray into the real estate asset class and MCUDI’s debut in logistics development in Indonesia. The growing demand for modern warehouse facilities in the region, driven by the e-commerce, third-party logistics (3PL), and the automotive industries, underlines the promising future of Indonesia’s…

In a significant boost to the Canadian EV market, Ford has revealed a landmark agreement with Tesla to double the fast-charging options for its customers, according to a BusinessNewsCanada report. . Commencing from Spring 2024, this deal will provide Ford EV owners access to Tesla’s vast Supercharger network across the U.S. and Canada. The partnership is set to incorporate over 12,000 Tesla Superchargers into Ford’s existing BlueOval Charge Network of 10,000+ fast-chargers, forming the largest integrated fast-charge network in North America. “Widespread access to fast-charging is absolutely vital to our growth as an EV brand,” said Ford CEO, Jim Farley.…

Globe lines in Central and Eastern Visayas were affected by multiple fiber cuts, disrupting services for customers using Globe Prepaid, Globe Postpaid, Globe Platinum, TM, Globe Business, Globe At Home Prepaid WiFi, Globe At Home Postpaid and LTE@Home. The incident, which was caused by government-contracted construction activities, impacted millions of customers who experienced difficulties in making and receiving calls, texts, and internet browsing. Fiber cuts were traced to Tagkawayan, Quezon due to activities by Joey Ding Contractor, and Tagbilaran City in Bohol, because of construction work by Cebu 7H Technochem Industries. Globe’s technical and network teams worked double time to…

The Philippines will reap significant benefits from enforcing site blocking to combat piracy, the latest YouGov consumer surveys commissioned by the Coalition Against Piracy (CAP) showed, redounding to the vibrancy of the P1.60-trillion creative industry, a top contributor to the economy. The Globe Group said this as it celebrated the passage of House Bill No. 7600, which proposes revisions to the country’s 26-year-old Intellectual Property (IP) Code, including allowing site blocking, to address gaps that have allowed online piracy to endure and to empower regulators to act against violators. The bill, authored by Albay 2nd District Rep. Joey Salceda, was…

Sunway University has earned the top spot among non-government linked private universities in Malaysia in the latest Times Higher Education (THE) World University Rankings 2023. Ranked within the 801-1000 bracket out of 1,799 universities across 104 countries and regions, the prestigious institution has also been recognized as one of Malaysia’s Top 10 universities. “We are very pleased to have entered the THE World University Rankings for meeting the eligibility criteria to receive a rank in the league table,” said Professor Sibrandes Poppema, President of Sunway University. The league table, compiled using 13 performance indicators, evaluates universities in areas such as…

Colliers, a diversified professional services and investment management company, has announced the successful completion of three significant deals in the Seoul market, with a combined value of USD780 million, in May 2023. This accomplishment, led by industry veteran Sungwook Cho, showcases the firm’s extraordinary transactional capabilities in a challenging market environment. The transactions include the sales of Munjeong Plaza, Donghwa Building, and Namsan Green Building, spanning a total land area of 20,487sqm. The company’s significant role in these deals strengthens its position as a trusted partner for investors in the Korean market. The Munjeong Plaza deal highlights the team’s ability…

Over two dozen blockchain teams and venture capital entities have come together to initiate a $50 million Cross-Chain Ecosystem Fund. The fund will support and promote budding startups that employ the Wormhole cross-chain messaging protocol. Borderless Capital, a prominent venture capital firm in the Web3 domain, will manage and operate the fund. Renowned blockchain protocols, infrastructure providers, and institutional investors back the fund, intending to encourage cross-chain innovations and stimulate the growth and adoption of the Web3 industry. Significant supporters of the fund include Jump Crypto, Polygon Ventures, Aptos Labs, Solana Foundation, Algorand Foundation, and more. With the rapid multiplication…

Insurtech company bolttech has successfully raised US$196 million in its Series B funding round, with a valuation of US$1.6 billion. The funding round was led by Tokio Marine, the oldest insurance company in Japan with a rich 140-year history. Other key investors included MetLife through its subsidiary MetLife Next Gen Ventures, Malaysia’s sovereign wealth fund Khazanah Nasional, as well as existing and new shareholders. This achievement is particularly notable as mega-round funding for the global insurtech sector has been at its lowest level since Q1 2020, according to a Gallagher Re report. bolttech’s Series B fundraise is the largest equity…

Laguna Health, the AI-powered contextual care management platform, has announced the initial close of its Series A funding round, securing $15 million in investment. The round was co-led by SemperVirens and HC9 Ventures, bringing Laguna’s total funding to over $21 million. The company plans to utilize the funds to enhance its AI capabilities in the context of care management and expand its go-to-market strategy. Currently, around 35 million Americans are hospitalized annually, and a majority of them are discharged to self-care at home. However, patients often receive minimal ongoing clinical oversight and rely on paper instructions for their recovery. Laguna…

Property giant Megaworld has commenced the construction of its inaugural hotel development in Northern Luzon, set to be located within the 35.6-hectare Capital Town Pampanga. The Savoy Hotel Capital Town will mark Megaworld Hotels & Resorts’ fifth property under the Savoy Hotel brand, the largest operator of homegrown hotel brands in the country. Strategically situated along San Fernando Boulevard, the hotel will be nestled in an area expected to witness a high concentration of tourists and guests within the township. It will be positioned near the upcoming Capital Mall and will be surrounded by residential condominiums, office developments, and the…

Jenfi, a financial technology firm specializing in revenue-based financing for digital-native businesses, has successfully raised $6.6 million in a Pre-Series B funding round. The round, led by Headline Asia, saw participation from several notable investors including Monk’s Hill Ventures, ICU Ventures, Granite Oak, Korea Investment Partners & Golden Equator Capital, Atlas Ventures, among others. The additional funding will help Jenfi strengthen its position as a top fintech lender for emerging online businesses in areas such as e-commerce, SAAS, and consumer-tech. “We are honoured to be backed by such a distinguished group of investors as we strive to push the boundaries…

TPG Inc., a global alternative asset management firm, announced that it agreed to acquire Angelo Gordon, a $73 billion alternative investment firm focused on credit and real estate investing. The cash and equity transaction is valued at approximately $2.7 billion and includes $970 million in cash and up to 62.5 million common units of the TPG Operating Group and restricted stock units of TPG. Additionally, there is an earnout component based on Angelo Gordon’s future financial performance, valued at up to $400 million. Founded in 1988, Angelo Gordon is a fully integrated multi-strategy platform with over 650 employees across 12…

isense, the renowned consumer technology brand, made a significant announcement yesterday with the launch of its highly anticipated ULED X and hero U8 TV products in the United Arab Emirates region. Recognized as the second-largest global TV brand in terms of shipments in 2022, Hisense continues to solidify its position as an industry leader. Last year, the company’s exceptional dedication to quality was acknowledged when it received the prestigious ‘Dubai Quality Global Award’ for its outstanding range of products and services tailored specifically to the local Dubai market. One of the highlights of Hisense’s latest offerings is the ULED X,…