The deal marks ARA Asset Management's entry into the fintech sector.
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The property benefits from a prominent location in Jurong close to the upcoming Tuas Megaport.
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The acquisition price of $58.36 million works out to 20 times price-to-earnings ratio.
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Most economists have cemented their expectations for the MAS to ease policy at its review scheduled for April.
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VCs, startups and industry associations have banded together to offer funds and assistance.
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Golden Skies Ventures has secured financing for the deal from an undisclosed European bank.
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It was the company’s first bond sale since a $5 billion offering in March 2015.
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The crisis has also unearthed new opportunities for investors eyeing distressed hospitality and retail assets.
The post Southeast Asia’s realty market braces for short-term instability appeared first on DealStreetAsia.
Ekuinas CEO Syed Yasir said the current market volatility is an opportunity to acquire distressed assets.
The post Ekuinas CEO says lower startup valuations to spark M&A frenzy appeared first on DealStreetAsia.
The firm is offering 5 per cent of its existing outstanding shares, priced at a discount between 1.49-1.52 ringgit per share.
The post Malaysia’s Serba Dinamik to raise $53.5m for gearing, working capital appeared first on DealStreetAsia.
The digital adoption rate of SMEs in Malaysia remains low and its e-commerce industry is still in its infancy.
The post Malaysia’s ambition to become a digital economy hub still at the halfway mark appeared first on DealStreetAsia.
SC will facilitate the online distribution of capital market products such as unit trusts.
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INCJ bought the shares from Edotco parent Axiata for $400 million via a private placement in 2017.
The post Japanese PE investor INCJ mulls stake sale in Axiata tower arm appeared first on DealStreetAsia.
Philippines-based cloud kitchen startup CloudEats has secured $1.4 million in a seed funding round led by an undisclosed local family office.
The post SEA Digest: CloudEats bags seed funding; LinkAja launches sharia service appeared first on DealStreetAsia.
StreetCred hopes super apps battling for dominance in Indonesia will find its data equally valuable.
The post Gojek-Grab battle in Indonesia opens way for US mapping startup appeared first on DealStreetAsia.
A big challenge for Salim Group and its investment ambitions could be its transition to a new generation.
The post Why Salim Group is no underdog in Indonesia’s startup scene appeared first on DealStreetAsia.
Many startups are scrambling to cut costs - slicing payrolls and the wages of those still on the job.
The post Southeast Asian startups tighten purse-strings as coronavirus hits revenue appeared first on DealStreetAsia.
The purchase price values Permata at 1.63 times its book value as of March 31, down from 1.77.
The post StanChart, Astra agree to reduced sale price for stake in Bank Permata appeared first on DealStreetAsia.
The VC, however, has shelved its plans to launch its next fund that was slated to invest in B2B, among others.
The post Indonesian VC Everhaus backs goKampus, ReCharge; plans evergreen fund appeared first on DealStreetAsia.
The first close represents one-third of the fund’s $800-million target.
The post PE firm Northstar makes first close of Indonesia-focused fifth fund appeared first on DealStreetAsia.
The number of deals touched 146 in the first quarter this year, compared to 127 in the same period last year.
The post Southeast Asia’s startups raised $2.9b in Jan-March, up 3% from Q1 last year appeared first on DealStreetAsia.
RedDoorz said it was unable to fulfil its commitments on its contracts due to COVID-19 outbreak
The post [Updated] Hotel operator RedDoorz declares force majeure in Indonesia appeared first on DealStreetAsia.
Prior to the pandemic, Stoqo was in the process of raising a fresh round to expand its business.
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The Series A round has brought 360VUZ’s total funding amount to $7 million.
The post Asia Digest: Shorooq backs 360VUZ; Amartha CEO steps down appeared first on DealStreetAsia.
MassMutual Ventures SEA, MDI Ventures and Central Capital Ventura also joined the round.
The post SE Asian insurtech startup Qoala raises $13.5m led by Centauri Fund appeared first on DealStreetAsia.
The omnibus bill on job creation limits increases in the minimum wage and eases conditions for firing employees.
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SEA recorded a 54 per cent jump in online sales year-on-year between Jan 13 and April 5.
The post Grocery, food startups gain as online demand soars amid pandemic appeared first on DealStreetAsia.
Pasarpolis raised a Series A funding round from unicorns, Gojek, Traveloka and Tokopedia, in 2018.
The post IFC proposes $5m equity investment in Indonesian insurtech Pasarpolis appeared first on DealStreetAsia.
The decision to completely shut down its operations comes after significant downsizing by the company.
The post Traveloka-affiliated hotel startup Airy to shut down business amid virus pressure appeared first on DealStreetAsia.
There are several logistics deals in the pipeline that would likely be closed as early as by June.
The post Indonesia’s B2C logistics startups see deal traction as demand soars for last-mile services appeared first on DealStreetAsia.
Cashlez will use the IPO proceeds to purchase a 61.31 per cent stake in IT solution provider Softorb Technology Indonesia (STI).
The post SEA digest: Indonesia’s Cashlez raises $5.8m in IPO; KB Kookmin Card to buy Thai firm appeared first on DealStreetAsia.
"In India for almost 50 years Azaan on the loud speak was Haraam. Then it became Halaal and so halaal that there is no end to it, but there should be an end to it. Azaan is fine but loud speaker does cause of discomfort for others. I hope that atleast this time they will do it themselves (sic)," Akhtar tweeted.
Caldevilla-Domínguez, David and Barrientos-Báez, Almudena and Fombona-Cadavieco, Javier Evolución de las relaciones públicas en España. Artículo de revisión // Evolution of public relations in Spain. Review article. El profesional de la información, 2020, vol. 29, n. 3. [Journal article (Unpaginated)]
Lewis Hamilton laid down a important marker ahead of qualifying for the Italian Grand Prix, setting a quickest time of 1:22.498 to finish ahead of Sebastian Vettel and the Ferraris of Fernando Alonso and Felipe Massa on a glorious sunny morning at Monza
Tonio Liuzzi remained resolute despite failing to make the second session of qualifying for the fourth time this season
Jaime Alguersuari said he was more than a little surprised to receive a drive-through penalty for cutting a chicane during the Italian Grand Prix
Ferrari's Felipe Massa believes second place would have been within his grasps at the Italian Grand Prix had it not been for a slow pit stop
Ferrari insists it is right back at the centre of the championship fight after Fernando Alonso's victory at the Italian Grand Prix
Sebastian Vettel admitted it had been 'a good start' after he topped both sessions of free practice for the Brazilian Grand Prix whilst adding that it was not the most important thing
Although they may have been bitter rivals for the majority of the 2010 season, there is a deep respect between McLaren and Red Bull according to Martin Whitmarsh
Lewis Hamilton led home Jenson Button for a McLaren 1-2 after the team got its strategy spot on in Montreal
Sebastian Vettel has revealed a gearbox problem prevented him from attacking the McLarens and Fernando Alonso for position at the Canadian Grand Prix