Southeast Asia’s internet economy is slated to be worth more than US$240 billion by 2025 according to a joint study by Google and Singapore’s Temasek Holdings covering the six most advanced internet economies in the region – Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines. Previous projections foresaw a US$200 billion internet economy for the region by 2025.
Temasek Holdings Pte is exploring a sale of its stake in Asian drug distributor Zuellig Pharma, people familiar with the matter said.The Singapore state investment firm has been speaking with advisers about a potential sale of its 20 percent stake in Zuellig Pharma, which commands vast pharmaceutical distribution networks in about a dozen Asian markets, according to the people.
Dymon Asia Capital (Singapore), the hedge fund manager that made its name betting on macro-economic themes, plans to raise an additional 600 million dollars for a stock fund as it expands its equity business, said President Jay Luo.The Dymon Asia Equity Fund oversees more than 400 million dollars, made up of mostly internal capital and money from Singapore state-owned investment company Temasek Holdings, Luo said.
Vertex Ventures, the venture capital arm of Temasek Holdings, has completed its biggest fundraising for Southeast Asian and Indian technology deals.The Singapore-based firm closed its third Southeast Asian fund at 210 million dollars, a record in the region that exceeded its target of 150 million dollars. The money will be used for early stage investments, aiming to repeat its success with Grab.
Fifty years since its formation, all 10 of the ASEAN (Association of Southeast Asian Nations) member states have seen rapid urbanisation. While the total population within Southeast Asia has reached over 640 million people in 2017, the internet penetration rate across has only reached 53 percent, which translates to 339.2 million internet users, as stated in the Digital in 2017: Southeast Asia report released by Hootsuite and We Are Social.
Magic Leap, a Florida-based startup that’s raised more than 1.3 billion dollars to build a wearable computing device, is trying to raise even more cash as it readies a long-awaited debut product.
