Just when it looked like the largest of Southeast Asia’s internet firms was yet another poster child of cheap money, a bubbly startup that had grown too much too fast, Sea Ltd.’s top executives took an ax to costs. They closed down some Latin American operations, cut jobs, sacrificed their own salaries and squeezed nearly $500 million out of the …

The Monetary Authority of Singapore (MAS) has launched a talent development program for the financial sector, involving artificial intelligence and data analytics (AIDA). The initiative is aimed at increasing “the supply of AIDA talent to build deep AI capabilities” in finance, the authority said in a statement on Monday. The government has set up a consortium where financial and training …

MAJOR Asian logistics operator GLP was for years sought after by investors, both when it first went public over a decade ago and then when the company was for sale. But sentiment has darkened more recently, with its investment-grade dollar bonds the worst performers in Asia this year and the firm at risk of being downgraded to junk territory. Of …

SINGAPORE tech startups Krosslinker and Luminis Water Technologies won awards at the 2023 SelectUSA Investment Summit startup pitching competition in Maryland last week. A total of 79 international startups took part in the competition. Deep-tech advanced materials startup Krosslinker clinched the top prize in the Cleantech category, while microbiome analytics firm Luminis Water Technologies clinched the equivalent in the Regional …

Singapore’s sovereign wealth fund GIC has invested in Vietnamese healthcare services provider Nhi Dong 315, according to regulatory filings seen by DealStreetAsia . The Vietnamese firm operates at least 60 pediatric and maternity clinics in Ho Chi Minh City. Ardolis Investment, a unit of the Singapore wealth fund, invested $30 million in the Singapore-registered holding company og Nhi Dong 315, …

TOKYO — Startup valuations in Vietnam could fall 50% from their recent peaks as company founders adjust to a decline in venture capital investments, a partner in the country’s oldest private equity firm says. Chad Ovel of Mekong Capital said during a recent visit to Tokyo that his firm sees a “massive opportunity” to profit from the change and is …

Singapore-based Integra Partners has closed its second venture fund at US$90 million, bringing the firm’s total committed capital to over US$140 million. Integra Partners Fund II is backed by institutional investors such as DEG, the US International Development Finance Corporation, Norfund, and Tikehau Capital. The fund focuses on early-stage investments in the fintech, insurtech, and digital health sectors. It aims …

Global consumer tech firm Dyson has announced that it is building a battery plant in Singapore and research and development campuses in the Philippines and the UK. The Singapore facility will be completed this year and be fully operational by 2025. The city-state – where the firm has its global headquarters – will play a part in producing battery cells …

The information and telecommunications technology (ICT) sector needs more reforms and updated regulations to boost inclusive digital connectivity, according to experts. “In a dynamic sector such as ICT, there is a need to upgrade the regulatory framework for telecommunications, which underpins the digital economy,” Ramonette B. Serafica, Philippine Institute for Development Studies (PIDS) senior research fellow, said during a webinar …

DEAL flow in South-east Asia slowed in 2022, with a sharp decline in the second half of 2022, according to data from a Bain & Company report. However, the regional energy transition is a bright spot attracting more investor interest. There were 176 private equity investment deals in 2022, a drop from 207 in 2021. Deal value also fell from …