gojek, Tokopedia explore holding company structure as merger talks move forward; Such a structure will allow the companies to retain their individual brands; Both are also reviewing options for the payments businesses OVO, in which Tokopedia and its affiliates own a 41% stake, and Gopay, in the event of a merger. More here
Tesla will run onto many speed bumps in India, including supply chain woes; India’s EV market accounted for only 5K units of a total 2.4M cars sold in the country last year; A lack of local production of components and batteries, negligible charging infra, and the high cost of EVs mean there have been few takers in the price-conscious market. More here
TaniHub raising fresh investment, claims 600%+ gross revenue growth in 2020; This follows a US$17M round in April 2020; The money will be used to further develop TaniHub’s upcoming projects: Digitalisation of B2B ecosystem in agri, automation of supply chain process, farmers acquisition. More here
Key executives leave MDEC amidst reports of shake-up; Those who have left or tendered their resignations include COO Datuk Ng Wan Peng, CFO Nor Faizah Othman and CIO Abdul Malick Aboobakar; According to another credible source, there have been some concerns among the employees about MDEC’s vision and direction. More here
IMDA announces US$22M grant to support startups driving mass 5G adoption; The fund will support solution providers and tech developers commercialising 5G solutions in making it accessible to more companies; Applicants need to indicate a significant value and impact that their product will provide to the enterprises and industry. More here
How Shopee overtook Lazada to become the top e-commerce marketplace in S’pore; Shopee was launched in 2015, and Lazada was already a leading e-commerce platform in the region when Shopee first entered the market; However, Shopee quickly went from being a new entrant to taking the crown as the most-visited e-commerce platform in Singapore by the second quarter of 2020. More here
Transfree confirms Q2 2021 launch of remittance platform in Indonesia; Its primary focus would be to serve the migrant workers segment in SEA; According to data by Bank Indonesia, throughout 2018, Indonesian migrant workers abroad sent up to US$10.9B home, providing a massive business opportunity. More here
Warung Pintar launches e-platform for mom-and-pop stores to directly order from distributors; “Grosir Pintar” allows warung owners to select products from over 200 distributor partners and goods can be sent within three hours; This service can also help them to fulfil emergency grocery needs, making it easier for warung owners with limited cash flow. More here
This made-in-Singapore robotic coffee barista will receive you at Japan’s train stations ahead of Olympics; Ella is powered by an ecosystem comprising IoT-connected software and external hardware which will upgrade the coffee experience with speed, convenience, quality and consistency. More here
This eco-friendly and energy-efficient air-conditioner cools you, not your room; Close Comfort is a tiny, light-weight, portable refrigerator with a fan inside that blows a gentle stream of cool air to create sufficient comfort for one or more people; A key feature is that it never needs recharging and adjusts automatically to work harder in high humidity. More here
SGX, Temasek team up to advance digital asset infrastructure in capital markets; The JV will look to partner with fixed income issuance platforms to connect to its post-trade and asset servicing infra, providing issuers, arranger banks, lawyers, investors and paying agents with a comprehensive, issuance-to-settlement network for Asia bonds. More here
Stock Exchange of Thailand (SET) to launch digital asset trading platform; It will be similar to other popular e-commerce marketplaces but all products on SET’s platform will be digital token assets; The token must have an underlying asset that investors can analyse on value; The product must have benefits to society and the environment. More here
Fortifying cybersecurity through effective risk management; As organisations increasingly migrate to virtual operations and transactions, there is an increasing need to protect against potential breaches and cyber intrusions; Ransomware and cyber incidents have multiplied, adding to the already complex crisis management morass for many organisations. More here
How no-code development for startups is a launchpad to success; No-code facilitates the fast development of solutions for business processes to meet these unending customer needs faster than it would take a professional coder to do; Moreover, constant changes and updates are enabled as the speed, agility, and adaptability that no-code can provide is unmatched in the business world. More here
HKSTP launches accelerator to drive banking innovation; The BFSI accelerator aims to bridge corporates and innovators to deliver breakthrough technologies and create a wide array of new business opportunities in the world of banking, financial services and insurance; Fintech solutions in the fields of blockchain, AI and robotics, cybersecurity and IoT are among those being targeted in the programme. More here
Businesses in Singapore anticipate radical changes needed in 2021 for future readiness; 52% of businesses expect that ‘substantial’ or ‘radical’ changes will be required to their business models in the next 12 months, of which 32% expect that making these fundamental changes to their business will be difficult to implement. More here
The new era of cashless, invisible payments; The global digital payments market grew by nearly 24% in 2020 to US$4.9T, according to a research; That report shows the global digital payments market grew by 21% YoY in transaction value last year; It projects that the market’s total transaction value will grow by 23.7% to reach US$4.93T. More here
How these students built tech for Singapore’s elderly and climate change; The team created ‘the Forever-Smart Glasses’ using Huawei’s AIoT and OBS technology, a stable and secure cloud storage service; The cloud service is used to establish a secure connection that allows for images to be uploaded and stored easily for facial recognition. More here
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