Vietnam 

Six Vietnamese start-ups win funding from Singaporean venture firm – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  TelePro technicians. The telemarketing enterprise is among six Topica Founder Institute graduates that have received US$50,000 worth of funding each from the Singaporean investor Insignia Ventures. — VNA/VNS Photo Minh Quyết HÀ NỘI — Six Vietnamese start-up firms have raised at least US$50,000 each from the Singaporean investor Insignia Ventures at the seed funding round. This is the minimum funding guaranteed by the Singaporean firm for start-up businesses that graduate from the training programme of Topica Founder Institute. TFI graduates receiving funding this time include on-demand telemarketing firm TelePro,…

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Hong Kong sapphire coating start-up targets expanded use in foldable phones, seeks US$1.5 million in funding

Hong Kong start-up Cathay Photonics, which has patented technology for the application of scratch proof sapphire on glass and plastic, is targeting US$1.5 million in pre-series A financing from international investors as it targets expanded use in foldable phones and other devices.“The sapphire film helps to protect the plastic screens of foldable phones so they won’t be easily scratched, or wear out, when you fold and unfold the phone,” said Cheah Kok Wai, the company’s co-founder and chief… Source link

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Hong Kong Monetary Authority moves to steady ship amid protests, US-China trade war, introduces new funding facility for city’s banks

Hong Kong Monetary Authority, the city’s de facto central bank, has introduced new ways in which the city’s lenders can borrow from it, a move aimed at strengthening the banking system at a time of unprecedented social unrest.The new measures also enhance the current system banks can use to borrow from the monetary authority should they face an unexpected liquidity crunch, it said in a circular to all banks on Monday.“This is part of our ongoing work to maintain the integrity and stability of… Source link

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Shanghai insurtech start-up The CareVoice eyes Asia expansion after securing US$10 million funding

Shanghai-based insurance technology start-up The CareVoice has raised about US$10 million in a funding round led by Chinese investment management company Lun Partners Group, it said on Thursday.The company, which launched in Hong Kong last September and is present in mainland China, provides software to 15 insurance companies, including Ping An Insurance, China’s second-largest insurer, Zhong An Online P&C Insurance, the country’s first internet-only insurer, The People’s Insurance Company of… Source link

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Vietnam 

Southeast Asia startup RedDoorz raises US$70 million in Series C funding – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Amit Saberwal, Founder and CEO of RedDoorz. — Photo courtesy of RedDoorz HCM CITY — RedDoorz, the Southeast Asia’s hotel management and booking platform, announced it has raised US$70 million at first close of a larger Series C funding on Monday. Leading the round is Asia Partners, a Singapore-based growth equity firm founded by senior executives with an exceptional track record in scaling multi-billion tech companies (Sea, Naspers, Bukalapak) globally and across the region. RedDoorz is the first portfolio company of Asia Partners, which focuses on growth-stage investments in technology and…

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China 

All but one of China’s provincial level governments ran deficit at start of 2019, raising further funding fears

Fears over China’s ability to manage its domestic economy alongside the trade war with the United States have further increased after 30 of the 31 provincial level governments are reported to have ran at a deficit in the first six months of 2019.Shanghai was the only authority that ran a surplus financial position in the first six months of the year.This follows the takeover of Baoshang Bank in May and the bailout of the Bank of Jinzhou last week, and has increased the speculation over how many… Source link

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China 

China’s July corporate bond defaults jump to a four-month high as funding dries up amid risk aversion in a slowing economy

Company bond defaults in China hit a four-month high in July as a slowing economy and risk aversion triggered by the unexpected seizure of Baoshang Bank marred refinancing prospects at weaker firms.Onshore corporate bond defaults reached at least 14.4 billion yuan (US$2.1 billion) from 14 notes in July, according to data compiled by Bloomberg, bringing the total year-to-date defaults to 70.9 billion yuan from 89 bonds.After two straight months of declines through May, bond delinquencies are… Source link

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Vietnam 

PM works to ensure funding for expressway project – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Prime Minister Nguyễn Xuân Phúc asked contractors to return to work on the Trung Lương- Mỹ Thuận Expressway Project in a meeting yesterday in Hà Nội.— VNA/VNS Photo Thống Nhất HÀ NỘI — Prime Minister Nguyễn Xuân Phúc asked contractors to return to work on the Trung Lương- Mỹ Thuận Expressway Project in a meeting yesterday in Hà Nội. The PM also told the project’s credit institutions to make sure there will be sufficient funding for the project to proceed on schedule. The project was under threat of being delayed because it was…

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Property 

China’s top property developers to get bigger amid tightened funding, with mid and small firms forced to sell assets to survive

The latest tightening in funding might drive a fresh round of consolidation among mainland Chinese property developers, with an acceleration in acquisition of land and assets by the biggest players, analysts said.The biggest developers are expected to grow at the expense of smaller rivals, with their performance increasingly deviating from the industry average.“Foreign investors are too bearish about Chinese developers … they see slower sales and heightened government curbs. But what they may… Source link

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Non-banking lenders step in to meet Australian property market’s funding requirements

Australia’s property market is seeing nonbank debt providers step in to plug a hole in funding left by big banks, whose lending is being hobbled by increased regulatory pressures and higher capital requirements.The pullback by banks leaves a gap in funding needs that is expected to increase to A$50 billion (US$35 billion) by 2023, according to MaxCap Group, an Australia and New Zealand commercial real-estate debt specialist. Melbourne-based MaxCap has more than A$2 billion of deals that it will… Source link

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