Category: Malaysia Travel

Singapore’s Garena Said to Pick Goldman for $1 Billion IPO

Garena, Southeast Asia’s most valuable startup, picked Goldman Sachs Group Inc. to lead a planned initial public offering that could fetch about $1 billion, according to people with knowledge of the matter. The Singapore-based online gaming portal and e-commerce provider plans to select additional banks as soon as this month, the people said.

Alibaba leads $2.6bn bid for store chain

Hong Kong/Shanghai: Alibaba Group Holding Ltd is leading a bid to take department store chain Intime Retail Group Co private for as much as $2.6 billion, as China’s largest online retailer deepens its integration with brick-and-mortar stores. The deal to buy out Intime adds to Alibaba’s burgeoning foothold in physical retail as it pursues growth beyond a slowing online business.

Huge rise in e-shopping signals Digital India takeoff

This is going to be music to ears for the Modi government, who, in the last 50 days, stressed that with demonetization going digital is the future for India. A study conducted by industry lobby group Assocham and business consulting firm RNCOS estimates that average wallet spends in retail transactions are likely to move from Rs 500-700 in 2016 prior to demonetization to Rs 2,000-10,000 in the near future.

IPrice gains $4m in Series A funding

IPrice Group, a Kuala Lumpur-based price comparison website, has received US$4 million in a Series A round of funding from a group of venture capitalists. The group was led by Asia Venture Group and includes Gobi Partners, DMP, Econa, Starstrike and a few individual investors.