Editor’s note:
JD Daojia now allows customers to buy from three convenience store chain giants: Family Mart, 7-11, and Lawson.
KrASIA Daily is a five-minute read to brief you everything you need to know to start your day. We only choose the latest tech & startup news that is worth your time, with a focus on Southeast Asia and China.
Southeast Asia:
Singapore: Two Singaporeans on trial for unauthorized short-term rentals posted on Airbnb pleaded guilty in court on Tuesday in the first such cases under the city-state’s rules on short-term property letting introduced last year. (Reuters)
Singapore: Singapore’s sovereign wealth fund GIC Private Limited has partnered with mainland real estate developer China Vanke Co. for the development of high-end shopping centre in Shanghai, according to an announcement by the city municipal government. (Deal Street Asia)
Singapore: Dymon Asia Private Equity, the private equity arm of Dymon Asia Capital, is likely to close its second PE fund at $420-430 million. (Deal Street Asia)
The Philippines: The Philippines plans to announce the winner of an auction to become the country’s third telecoms player in June, as it seeks to improve services and break the lock PLDT Inc and Globe Telecom Inc have on the market. (Deal Street Asia)
The Philippines: Philippine-listed conglomerate San Miguel Corporation (SMC) has received approval from the country’s antitrust body to acquire the Masinloc power plant from several companies for $1.9 billion. (Deal Street Asia)
The Philippines: 500 Startups-backed Qwikwire, a cross-border property solutions platform in the Philippines, has raised an undisclosed amount in its latest fundraising round, led by First Asia Venture Capital and Cerebro Labs. (Deal Street Asia)
Myanmar: CBC Myanmar Microfinance Co Ltd, a fully owned subsidiary of Sri Lanka’s Commercial Bank of Ceylon Plc has received the licence to start operations as a non-saving deposit microfinance in Myanmar, according to the filing on Colombo exchange. (Deal Street Asia)
Thailand: Krungthai Bank has become the second financial institution after the Bangkok Bank to terminate transactions involving cryptocurrencies trading with Thai Digital Asset Exchange (TDAX), following a Finance Ministry order. (Bangkok Post)
Vietnam: Vietnam’s co-working space operator Toong has partnered with real estate developer BIM Group to open their first co-working space in the heart of Vientiane, Laos. (Deal Street Asia)
Malaysia: Malaysia’s investor-funded healthcare tech firm BookDoc has announced a partnership with Siloam Hospital Group to enter the Indonesian market. (Deal Street Asia)
Malaysia: Malaysian-based venture capital 1337 Ventures has announced that it has selected 10 Malaysian startups for its 12-week acceleration programme together with funding. The 10 startups include CTHhelp, an auto payment reconciliation service for online marketplaces; Foodbike, a mobile café chain powered by motorcycles to alleviate urban poverty and help the disabled; and Sync, a messaging application for schools to engage with targeted group of parents, students and teachers in real-time via mobile. (Deal Street Asia)
China:
JD.com‘s O2O grocery platform JD Daojiao reached a partnership with convenience store Family Mart, allowing customers to buy grocery from the store online. (36Kr)
JD.com established a headquarter in Australia, bringing local brands to Chinese consumers. (36Kr)
IQiyi, the Chinese entertainment company backed by Baidu, filed for an initial public offering in the U.S. The Beijing-based company filed with an offering size of $1.5 billion, an initial placeholder amount that is likely to change, according to a filing with the U.S. Securities and Exchange Commission. (Bloomberg)
State Grid Corporation of China’s (SGCC) deep pockets will likely overcome any German political resistance to a bid for 20 percent of power network firm 50Hertz, industry sources said, the latest sign of Chinese interest in the German market. (CNBC)
GSJ Ventures, the VC behind Didi and Ofo, led an RMB60 million (approx. USD9.5 million) investment in Aldwx.com (阿拉丁), a WeChat Mini Programs data statistics platform. The one-year-old startup is valued at RMB1 billion (approx. USD158 million) according to market research. (ebrun)
Zhishi Yingxiong, Sohu‘s live trivia game, got back online after China’s regulators issued regulations on live trivia games on 14 February. Toutiao subsidiary Xigua has suspended its live trivia game since then. (tech.qq)
China Auto Renting reports RMB 7.72 billion revenue in 2017, up 20% YOY, with its net revenue hitting RMB 880 million. (tech.qq)
Alibaba’s logistics arm Cainiao allows customers to track purchases as the company has adopted blockchain technologies in its logistics system. (36Kr)
WeChat Pay and Alipay, China’s two biggest mobile payment platforms, have recently forged partnerships with tax refund companies to enable Chinese tourists to obtain rebates on their purchases via their respective mobile apps. (scmp)
China’s largest news aggregator Toutiao acquired Vscene, a VR live streaming solution provider. (36Kr)
Chinese online apartment rental platform Danke Apartment has raised US$100 million in a B round led by CMC Capital and Banyan Capital, with proceeds used to fund the company’s expansion. (China Money Network)
Chinese suit manufacturer Dayang Group has made an A$3-million ($2.4 million) strategic investment in custom menswear brand startup InStitchu, a move that would hand over more of the startup’s production to the China-based clothing manufacturer. (Deal Street Asia)
Chinese conglomerate HNA Group’s unit HNA Capital said it will lead two funds totaling 20 billion yuan ($3.17 billion) that will focus on investments linked to the ambitious Belt and Road initiative of the world’s second-largest economy. (Deal Street Asia)
World:
Amazon began selling its in-house delivery service to third-party vendors in Australia on Tuesday, taking on a major logistical challenge in the continent that invented the expression “tyranny of distance”. (Reuters)
Amazon has reached an agreement to acquire Ring, the Santa Monica, Calif.-based maker of video cameras, doorbells and other smart home technologies. (GeekWire)
Uber has stepped up lobbying efforts in Brazil ahead of a key Congress vote on legislation that could make or break its business model in one of its largest markets. (Bloomberg)
Amazon’s Japanese rival Rakuten is planning a new cryptocurrency called Rakuten Coin — built on blockchain technology and the company’s existing loyalty program, Rakuten Super Points — which it plans to use to encourage loyalty services globally and to help customers to buy goods across different Rakuten services and markets. (Tech Crunch)
EBay Inc., operator of the namesake online marketplace, is close to a deal for the Japanese assets of e-commerce site Qoo10, a person familiar with the matter said. (Bloomberg)
Ford chooses Miami to test autonomous ride-hail and delivery businesses, including a pilot with Postmates and Dominos, and is setting up fleet-management center. (Techmeme)
Craig Wright, who once claimed to be long-sought Bitcoin founder Satoshi Nakamoto, has been sued for stealing $5 billion in bitcoin from a former business partner. (The Verge)
Online education company Udacity, which offers courses in high-tech subjects such as machine learning, said on Tuesday it more than doubled its annual revenue last year and added about 34,000 new students to its online degree programs. (Reuters)
