Earnings and Results
The firm had posted profits for three straight years in 2019-21.
Analysis
Higher interest rates dampen listings in region with fewer big-ticket debuts.
Massive oversupply forces legacy Thai companies to cut production or close down.
1
Ant Group-owned payments firm 2C2P trims losses by 83% in 2023
2
SE Asian IPO fundraising plunges 60% in first half as Indonesia slumps
3
Thai auto sector reels under subsidies for Chinese EV makers
4
Shanghai launches $14b funds to ramp up IC, AI, biomedicine sectors
5
Private equity giant Apollo pumps $700 million into Sony Music
More Stories
L Catterton’s Asia chairman Chinta Bhagat steps down from role
Indosat’s potential sale of submarine cable and fibre assets may attract local bidders
SE Asian startups left thirsting as funding drought persists into Q2
Indonesia’s Volta plans to roll out EV scooters in more SE Asian markets
Grab calls off proposed acquisition of Singapore taxi operator Trans-cab
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India
Deal paves way for Mankind to expand into the women's health and fertility drug market.
Rest of Asia
The Singapore-based investment firm holds around 18% stake in the Japanese film company.
World
The new fund is slated to target global investments in both private and public markets.
Greater China
The SWF still sees opportunities in China's residential and commercial properties in major cities.
The deal values BusinessOn at $258 million.
The proceeds will be used to accelerate the development of Luye Pharma Group’s oncology drug business.
Singapore
Currently, the firm sees more interest emerging from the developed Asian markets, with SE Asia at a nascent stage.
Baichuan entered the unicorn club just six months after its inception in April 2023.
Philippines
DGGF has proposed to invest up to $8m in Foxmont III.
The round was co-anchored by Franklin Templeton and crypto-focused venture capital investor ABCDE.
The venture capital businesses of Goldman Sachs and JPMorgan Chase also participated in the round.
A wholly-owned subsidiary of Xiaomi contributed 600 million yuan ($82.5 million) to the vehicle.
The number of equity funding deals sealed by SE Asian startups fell in Q2 2024 but the capital raised inched up.
Deal volume rose to 333 in Q2 2024, up almost 15% from 290 in Q1 2024.
SE Asian bourses are defying the global slump in public market fundraising.
SE Asia witnessed a notable decline in tech companies’ M&As in 2023.
Quick commerce unicorn Zepto received $470 million this week from StepStone Group, Nexus Venture Partners and others.
Proptech firm 99 Group saw shares change hands last week.
Indonesia
Singapore-based takeaway kiosk operator Har Har Chicken! has raised $850k in seed funding led by East Ventures.
Blockchain payments network Partior has issued new shares to Peak XV, Temasek, JP Morgan and others.
Hyundai has overcome issues that drove GM, Ford and Fiat away from India.
Bank Jago booked a net profit of $3.07m in Jan-June 2024.
The higher losses were mainly on account of a 162% rise in expenses last year.
The pace of growth was the slowest since its 2.7% investment return in 2020.
The bank's net income reached S$22.2 million, while its loss for the year increased to S$29.8 million.
Agarwal joined NewQuest in 2019 following a decade-long stint with CLSA.
It's the latest in a series of changes at the firm's South and SE Asia offices in the last 18 months.
It has a sprawling portfolio of investments ranging from date farms to multinational conglomerates.