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Ping An Insurance to list three unicorns ‘when timing is right’, invest US$1.4 billion in tech units

Ping An Insurance (Group), buoyed by the successful listing of its first unicorn, Ping An Healthcare and Technology in April last year, plans to list three other start-ups valued at more than US$1 billion “when the timing is right”.The company also said that it had budgeted an investment of 10 billion yuan (US$1.42 billion) for 2019 to expand its technology businesses.China’s largest online medical services app, better known as Ping An Good Doctor, raised HK$8.77 billion (US$1.12 billion) in… Source link

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China 

Shanghai-based Zendai closes two P2P units worth US$1.4 billion as Beijing intensifies crackdown

Zendai Group, a closely held private investment company in Shanghai, abruptly shut down two peer-to-peer lending units valued at 10 billion yuan (US$1.4 billion), as Chinese financial regulators ratchet up measures to clean an industry fraught with frauds and defaults.One platform run by Zendai’s wealth management arm suspended lending and laid off its staff on Monday, citing the government crackdown, according to an internal company email that was leaked online.Another internal email said that… Source link

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Singapore 

Fire raged for 3 hours at Bukit Batok warehouse units storing PMDs, electrical items, Singapore News

SINGAPORE – A fire raged for at least three hours in the early hours of Saturday (Aug 3) at two warehouse units in Bukit Batok. The units, which are on the fourth floor of the industrial building, were used to store personal mobility devices (PMDs) and electrical items. The Singapore Civil Defence Force (SCDF) said in a Facebook post that it was alerted to the fire at 2024 Bukit Batok Street 23 at about 1.20am. SCDF officers had to force their way into the units to contain the fire, they…

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Hong Kong developers unlikely to increase prices of new flats at they try to offload 8,500 unsold units, says Centaline

Hong Kong builders will probably leave their prices virtually unchanged in the second half of the year, having accumulated close to 8,500 unsold units since 2016, according to Centaline Property Agency.The developers may be keener than they have been in the past to offload the stock because of the government’s proposed “vacancy tax” which would penalise them for holding on to finished units.“Developers will hardly want to increase selling prices by 20 to 30 per cent like they did in the first… Source link

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Hong Kong protests fail to dampen demand for micro flats as T-Plus project in Tuen Mun sells 245 out of 344 units

The allure of a property “bargain” in Hong Kong may be stronger than concerns about the recent social unrest that has rocked the city if sales of tiny, heavily discounted, flats at a major project in Tuen Mun today were anything to go by.By 6pm on Sunday, 245 of the 344 units on offer at T-Plus had been bought, making it the largest weekend property sale since the huge rallies against the government’s proposed extradition bill began last month. Sales are set to continue until 11pm and resume on… Source…

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Singapore 

Images of ‘new’ ERP readers do not show actual units to be used; details yet to be finalised: LTA, Singapore News

SINGAPORE – You may have seen some of them on online forums or shared on websites – photos purportedly showing the new Electronic Road Pricing (ERP) readers to be introduced next year. These images are not actual depictions of the new on-board unit (OBU), for the next generation ERP, slated to be rolled out progressively from next year, the Land Transport Authority (LTA) has clarified. In a Monday (June 17) Facebook post, LTA said it was aware of photos of the supposed next generation OBU circulating online. “We are still…

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Goldman to merge four units to create a larger entity to invest in private companies, real estates and other deals

Goldman Sachs is finally embracing its status as a private equity giant.The firm’s top executives in recent months have laid out plans to raise more client funds for private investing and rely less on its own balance sheet. As part of that effort, the bank is looking to consolidate the investing activities of multiple units across the firm to add more heft to its merchant banking division, according to people briefed on the matter. A related announcement was set for as soon as Monday.The Wall… Source link

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Vietnam 

Aquatic firm sets to withdraw from two sub units – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Fish is processed by workers at Hùng Vương Corporation. — Photo tinnhanhchungkhoan.vn HÀ NỘI — Aquatic producer and exporter Hùng Vương Corporation plans to sell its stake in two smaller seafood processing firms. Hùng Vương wants to sell its 90 per cent stake in Hùng Vương Bến Tre Seafood Processing Co Ltd, worth VNĐ180 billion (US$7.74 million). In addition, the firm plans to cut its ownership in An Giang Fisheries Import and Export JSC to below 50 per cent from nearly 80 per cent. Hùng Vương holds more than…

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‘King of Cassettes’ David Chan Ping-chi to sell subdivided office units at The Center for up to 47 per cent profit

Cassette tape and CD magnate David Chan Ping-chi, one of 10 ultra wealthy investors who paid a world record US$5.15 billion for The Center in late 2017, is offering subdivided office units in the landmark skyscraper for up to 47 per cent more than what he spent.Chan could pull in sales revenue of HK$1.3 billion (US$170 million) if all 12 units on the 39th floor are sold. Each floor of the 73-storey The Center covers an area of 26,000 square feet.“Five units have been reserved. Details of the… Source link

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Creditors seize HNA unit’s assets in Singapore, China and US after CWT missed payment deadline on US$179 million of loans

Lenders to HNA Group’s CWT International seized control of assets in Singapore, China and the US after the unit failed to repay amounts due on its credit facility.Assets that are being taken over include shareholdings of Singapore-based CWT, with investment properties in the US and golf courses in China, according to a statement. Lenders had threatened to take control of the assets unless CWT made payments by 9am on April 17 tied to a HK$1.4 billion (US$179 million) loan taken out in September… Source link

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