Policy & Regulations
The high-profile corruption case is related to the procurement of Chromebook laptops for schools.
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Indonesia prosecutors seek 18-year jail term for ex-minister Nadiem Makarim
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Indonesia’s INA taps banking veterans for CEO, leadership roles
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Tencent misses profit forecasts on rising AI investments
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Alibaba reports profit squeeze amid AI, quick commerce push
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Blackstone shelves $4b New World deal
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Why Sea Ltd thrives even as its strongest business posts the thinnest margins
Asia Partners leads funding in SG’s Little Farms; Heliconia exits
People
INA has reportedly named investment banker Oki Ramadhana as CEO.
Earnings and Results
Net profit came in at 58.1 billion yuan, missing estimates of 61.42 billion yuan.
The company posted a 3% rise in fourth-quarter revenue.
Deals
The Cheng family has been in talks with a handful of financial institutions to sell an equity stake in New World.
World
The new capital will support the firm’s global expansion, including into Japan and Europe.
India
Vaidam Health has acquired oncology-focused healthcare platform CancerRounds.
Philippines
Mynt contributed 30% of Globe Telecom’s pre-tax income in Q1.
Rest of Asia
The technology investor’s net profit more than tripled to $11.6b in the period.
Singapore
Panther Mountain Capital acquired Heliconia’s shares.
