Author: GlobalTradeTimes

Maybank Asset Management Sdn Bhd (MAM Malaysia) has set a new benchmark in the Malaysian financial sphere with the launch of its Shariah-compliant, AI-driven Hyper-Customised Discretionary Portfolio Mandate (DPM). This innovative venture is the result of a strategic collaboration with Arabesque AI, a leader in investment advisory and technology, and marks a considerable advancement in Shariah-compliant investment solutions for Maybank Islamic Wealth Management’s affluent clientele in Malaysia. Arabesque AI employs its proprietary AI technology and extensive ESG data to provide active asset management and generate personalized, value-oriented portfolios for a wide array of investors. The platform can analyze expected returns…

Hong Kong’s virtual bank ZA Bank has taken a major step forward in the virtual asset space by opening an operating account for OKX Hong Kong, a prominent global virtual asset exchange and Web3 technology company. This strategic move provides OKX Hong Kong with essential business banking services, facilitating its day-to-day financial operations and laying a solid foundation for its plans to secure a Virtual Asset Trading Platform (VATP) license under the revised Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), as well as Type 1 & 7 licenses under the Securities and Futures Ordinance (SFO). Devon Sin, ZA Bank’s Alternate…

Close to 3,500 runners celebrated SGX Cares’ 20th anniversary at the highly anticipated SGX Cares Bull Charge Charity Run, held at the Marina Barrage for the first time. With the support of the financial community, S$2,538,888 was raised for SGX Cares’ adopted beneficiaries for 2023. Guest-of-Honour Minister of State for Social and Family Development Sun Xueling flagged off the run which featured two race categories – the 3km Chief Challenge involving CEOs and chiefs of companies and the 5km mass run. The runners were also treated to food, drinks, live music and entertainment at the Festival Village, which made a…

LUNA, the Indonesian embedded fintech and vertical SaaS platform, is making waves in the retail industry as it announces the successful completion of its latest funding round led by TNB Aura’s TNBA Scout initiative, with participation from Seedstars and existing investors 1982 Ventures, Century Oak Capital, and Prasetia Dwidharma. Launched in late 2019, LUNA has emerged as a game-changer for Indonesian retailers and MSMEs, offering a comprehensive suite of solutions to streamline their operations. The platform covers over 70 cities in Indonesia and boasts impressive growth, with a 20% month-on-month increase and more than 7,000 active merchants onboarded to date.…

In a significant step towards enhancing economic ties between the United States and Việt Nam, the United States Mission to Việt Nam, in collaboration with the Ministry of Industry and Trade (MoIT), has officially launched the Việt Nam Digital Trade program. Supported by the United States Agency for International Development (USAID), this $3.25 million initiative aims to foster digital trade and innovation in Việt Nam. This groundbreaking initiative follows the announcement of the new US-Việt Nam Comprehensive Strategic Partnership, made during the visit of US President Joseph Biden to Việt Nam last month. President Biden’s visit emphasized the United States’…

Baguio Green Group Limited, an integrated environmental services group, recently announced its successful acquisition of new contracts amounting to roughly HK$752 million. These contracts, secured from an array of Hong Kong government departments, quasi-government entities, and private organizations, have propelled the Group’s total contract value to a staggering HK$4.7 billion as of 5 October 2023, marking a historic high. Key contracts from this recent achievement include: A contract with the Leisure and Cultural Services Department for the provision of cleansing and support services at leisure venues in the Sham Shui Po and Yau Tsim Mong districts. An agreement with the…

Eazy Digital, an insurtech SaaS platform based in Thailand, recently announced the successful closure of its $1 million Seed funding round anchored by M Venture Partners. The round also witnessed participation from prior investors, namely Wavemaker Partners, OneDegree, Ascend Angels, and Orvel Ventures. Established a year ago by Harprem Doowa and Maethavee Sukul, Eazy Digital’s primary objective revolves around modernizing the outdated processes that insurance brokers and agents are mired in. The platform offers a suite of tools, catering to the modular software demands, and is designed to seamlessly integrate with prevailing core insurance systems. A testament to its growing…

Southeast Asia (SEA)’s Fintech space has encountered a staggering 74% decline in funding for Q3 2023, registering the lowest quarter in terms of investments since 2020, according to the recent Geo Quarterly Report: FinTech SEA – Q3 2023 released by global SaaS-based market intelligence platform Tracxn. While the zenith of the SEA Fintech funding was reached in Q4 2021, a consistent dip was evident post Q2 2022. Data from Tracxn’s extensive database indicates that in Q3 2023, the total capital raised by SEA FinTech entities amounted to $229 million. This is in stark contrast to the $437 million garnered in…

Travelodge Hotels Asia (THA) has recently announced the acquisition of the Staz Myeongdong 2 Hotel in Seoul, South Korea, marking another strategic step in the company’s expansion across the Asian market. The hotel, which consists of 174 rooms, was acquired on behalf of a separate account investor advised by THA. This acquisition is not just an addition to the brand; THA plans an extensive refurbishment for the hotel. The revamped property is set to reopen in the first quarter of 2024 under the name Travelodge Myeongdong Namsan (TLMN). This will be THA’s fourth establishment in Seoul, complementing its current portfolio…

At One Ventures, the climate tech venture capital firm founded in 2020 by Tom Chi, a founding member of Google X, announced today the closing of a US$375 million second fund. Like Fund I, Fund II will focus on backing early-stage startups with disruptive technologies that aim to improve planetary health by addressing industries causing significant environmental damage, such as buildings and construction, energy & transportation, and food & agriculture. Fund II was raised with the participation of a diverse group of Limited Partners. This includes GenZero, the Temasek-owned decarbonization-focused investment platform company, World Wildlife Foundation, the MacArthur Foundation, CalSTRS,…