SINGAPORE > China based LightInTheBox is set to acquire Singapore based EZbuy for $85.55 million

lightinthebox logo China based LightInTheBox is set to acquire Singapore based EZbuy for $85.55 million which is a cross border e-commerce platform. EZbuy was founded in 2010 and it curates products from China, Taiwan, the US, South Korea, Malaysia and Singapore. EZbuy serves more than 3 million customers from Singapore, Malaysia, Indonesia, Thailand and Pakistan. Some of the competitors of EZbuy are More …

SINGAPORE > China based Yifan Pharmaceutical Co. is set to acquire 90% of Singapore based biopharmaceutical company SciGen Ltd

yigan logo China based Yifan Pharmaceutical Co. is set to acquire Singapore based biopharmaceutical company SciGen Ltd for approximately $28 million for $0.05 a share to acquire at least 90% of SciGen which is listed in the Australian Stock Exchange. The full takeover would value SciGen at $28 million. Yifan has signed an agreement with SciGen’s controlling shareholder Bioton SA that owns More …

SINGAPORE > US based Google is set to build third data center in Singapore adding investment of $350 million.

google logo USA based internet giant Google is building a third data center in Singapore with an additional investment of $350 million bringing the total investment in Singapore to $850 million. To meet the demand of the rapid user growth in the region, Google’s third data center will be located in Jurong West which is in close proximity from its first two More …

SINGAPORE > UK based Frontierpay launches Asian headquarters in Singapore

frontierpay logo A foreign exchange and international payments firms, Frontierpay, is set to open its Asian headquarters in Singapore as a part of international expansion. Expected to grow to a staff of 50 over the next three years, Frontierpay is currently set to hire 5 people. The employees will be focused on supporting customers with their foreign exchange needs which includes supporting More …

SINGAPORE > Indonesia based Go-jek is set to expand to Singapore

go jek logo Micheql Reza, vice president of corporate communications of Go-Jek Indonesia, said that Go-Jek would expand to Singapore but however didn’t reveal the details of the expansion. He added: “This year for sure, but we cannot reveal more details.” Nadiem Makarim, Go-Jek CEO-cum-founder, also commented on Go-Jek’s expansion in Vietnam and Thailand by establishing two local companies which is also the companies first More …

SINGAPORE > Japan based Toyota is set to invest $1 billion in Singapore based ride hailing firm Grab

Toyota logo Placing a big bet on Southeast Asia’s largest ride- hailing company, Japan based Toyota is investing $1 billion on Singapore based Grab making this the biggest ever investment by a traditional automaker in a ride- hailing firm. According to a person close to the company, the new investment values Grab at just over $10 billion. Grab also bought out Uber’s More …

SINGAPORE > Chinese Alibaba invests extra $2 billion for Singapore based Lazada for aggressive Southeast Asia Expansion

library_logos_alibabaev_large For consolidating its control and targeting aggressive expansion in Southeast Asia, Alibaba is set to invest extra $2 billion in Singapore based e-commerce firm Lazada. With the additional investment long- time Alibaba executive Lucy Peng will take over as Lazada’s chief executive and replace founder Max Bittner who will become a senior advisor to  Alibaba. Prior to the investment, Alibaba More …

SINGAPORE > Japan based AOI TYO Holdings Inc. invests $5 million in the VC firm Spiral Ventures

AOI TYO Holdings logo Investing $5 million in Spiral Ventures, Japan based AOI TYO Holdings has entered into the Asian market. After its establishment in February 2013, Spiral Ventures Pte. Ltd. mainly invests in startups in the early to growth stage in Southeast Asia in the areas which have high target rates for economic growth. While maintaining strict risk management and compliance, including the More …