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DEALSTREETASIA
Latest news on private equity (PE), venture capital (VC), inbound & outbound deals, IPOs, mergers and acquisitions (M&A), and startup ecosystem across Asia. GREATER CHINA DEAL REVIEW: Q1 2021 Startups in Greater China raised $24.1 billion across 464 PE-VC deals in Q1 2021 — the best performance in the past six quarters. The dealvalue grew 1.2%,
HOW WARUNG PINTAR MOVED FROM A KIOSK FOCUSED STARTUP TO AN While closely associated with bright yellow kiosks, Warung Pintar is pursuing the far bigger ambition of transforming and digitalising traditional trade in Indonesia, with comprehensive solutions for all stakeholders Modernising traditional trade in Indonesia is not a challenge for the faint ofSINGAPORE ARCHIVES
Deals. SEA Digest: 500 Startups, JCurve Solutions, HungryGoWhere in news. 500 Startups has launched applications for Batch 4 of the Global Launch Singapore programme.INDIA ARCHIVES
Venture Capital. AI-powered Indian logistics platform Shyplite raises $1m from N+1 Capital. Funds will be used to enter segments like fulfilment centres and hyperlocal deliveries.VIETNAM ARCHIVES
Private Equity. Vietnam’s Mekong Capital invests $10m in water purifier maker Mutosi Group. This investment was made from the $246m Mekong Enterprise Fund IV. SE ASIA'S VC FUNDS: Q4 2020 REVIEW Southeast Asia’s venture capital firms raised $1.96 billion in 2020, a 39% drop from $3.23 billion in 2019, as travel restrictions imposed in the wake of the pandemic and increased limited partner (LP) caution affected fundraising.PARTNER CONTENT
The East Ventures Digital Competitiveness Index is an early sign that Indonesia’s digital economy is poised to expand significantly beyond its urban centers, backed by active interventions from the government, corporates, investors and startup foundersPARTNER CONTENT
Partner content in association with Grab. How GrabFood is harnessing technology to overcome the challenge of food delivery in SoutheastAsia. Photo: Grab
HOW SMARTNEWS IS RESTORING BALANCE TO POLITICAL Partner content in association with ACA Investments. How SmartNews is restoring balance to political polarisation with ‘News From AllSides’ Times
DEALSTREETASIA
Latest news on private equity (PE), venture capital (VC), inbound & outbound deals, IPOs, mergers and acquisitions (M&A), and startup ecosystem across Asia. GREATER CHINA DEAL REVIEW: Q1 2021 Startups in Greater China raised $24.1 billion across 464 PE-VC deals in Q1 2021 — the best performance in the past six quarters. The dealvalue grew 1.2%,
HOW WARUNG PINTAR MOVED FROM A KIOSK FOCUSED STARTUP TO AN While closely associated with bright yellow kiosks, Warung Pintar is pursuing the far bigger ambition of transforming and digitalising traditional trade in Indonesia, with comprehensive solutions for all stakeholders Modernising traditional trade in Indonesia is not a challenge for the faint ofSINGAPORE ARCHIVES
Deals. SEA Digest: 500 Startups, JCurve Solutions, HungryGoWhere in news. 500 Startups has launched applications for Batch 4 of the Global Launch Singapore programme.INDIA ARCHIVES
Venture Capital. AI-powered Indian logistics platform Shyplite raises $1m from N+1 Capital. Funds will be used to enter segments like fulfilment centres and hyperlocal deliveries.VIETNAM ARCHIVES
Private Equity. Vietnam’s Mekong Capital invests $10m in water purifier maker Mutosi Group. This investment was made from the $246m Mekong Enterprise Fund IV. SE ASIA'S VC FUNDS: Q4 2020 REVIEW Southeast Asia’s venture capital firms raised $1.96 billion in 2020, a 39% drop from $3.23 billion in 2019, as travel restrictions imposed in the wake of the pandemic and increased limited partner (LP) caution affected fundraising.PARTNER CONTENT
The East Ventures Digital Competitiveness Index is an early sign that Indonesia’s digital economy is poised to expand significantly beyond its urban centers, backed by active interventions from the government, corporates, investors and startup foundersPARTNER CONTENT
Partner content in association with Grab. How GrabFood is harnessing technology to overcome the challenge of food delivery in SoutheastAsia. Photo: Grab
HOW SMARTNEWS IS RESTORING BALANCE TO POLITICAL Partner content in association with ACA Investments. How SmartNews is restoring balance to political polarisation with ‘News From AllSides’ Times
ABOUT DEALSTREETASIA DealStreetAsia Pte. Ltd. was launched in September-2014, and went live (in its current format) from January-2015. The company was founded by Joji Thomas Philip, a 24×7 information enthusiast and a believer in the future of digitized news.WORLD ARCHIVES
Cathay Pacific Airways given extension to draw down $1b govt loan. UNObank, Tonik get digital banking licenses in the Philippines. AirAsia bolsters non-aviation business with $53.3m Big Pay investmentPEOPLE ARCHIVES
Boyu, Sinopharm among shortlisted bidders for drugmaker Mundipharma’s China unit. Warburg Pincus Asia, Brookfield funds secure $130m from China Life InsuranceINDONESIA ARCHIVES
IPOs & Markets. Indonesia’s Bukalapak looking to raise at least $300m from its domestic IPO. The company is likely to increase the target if the demand from investors is high. SE ASIA'S VC FUNDS: Q1 2021 REVIEW In the first quarter of the year, Southeast Asia-based venture capital (VC) firms closed five funds, raising $694 million in total proceeds. The number of funds achieving a final close was the highest since the COVID-19 pandemic hit the region at the start of 2020. Our latestreport captures the
THAILAND ARCHIVES
IPOs & Markets. Thai food delivery startup Line Man Wongnai seeks funding, eyes IPO. The company had raised $110 million from BRV Capital in July 2020.MALAYSIA ARCHIVES
Malaysia’s EPF posts 58% growth in Q1 gross investment income. Flipkart unit, Ace Turtle JV get licensing rights for Toys’R’Us in India. Hong Kong to test linking China’s digital yuan with its domestic payments network STATE OF SE ASIA STARTUP ACCELERATORS This report is an analysis of the state of startup accelerators in Southeast Asia, as they wade through the unprecedented challengesposed by COVID-19.
INDIA ARCHIVES
IPOs & Markets. Sebi tweak prompts Indian companies to advance listing plans. In a new circular on 2 June, Sebi agreed to delay the timeline for implementation of some of the revised procedures.MYANMAR ARCHIVES
Analysis. Major investments into Myanmar on hold after coup, reputation risks abound. A lot of businesses have been exposed to have past and current links to the junta.DEALSTREETASIA
Peter Thiel-backed Bridgetown launches third SPAC, looks to raise $260m in IPO. The SPAC intends to focus on a target in the technology, financial services, or media sectors in SE Asia. Greater China. GREATER CHINA DEAL REVIEW: Q1 2021 Greater China Deal Review: Q1 2021. April 22, 2021. 237304. Startups in Greater China raised $24.1 billion across 464 PE-VC deals in Q1 2021 — the best performance in the past six quarters. The deal value grew 1.2%, while deal count rose 5.9% quarter-on-quarter. Despite a tepid January and February amid the Chinese New Year holidays, record HOW WARUNG PINTAR MOVED FROM A KIOSK FOCUSED STARTUP TO AN While closely associated with bright yellow kiosks, Warung Pintar is pursuing the far bigger ambition of transforming and digitalising traditional trade in Indonesia, with comprehensive solutions for all stakeholders Modernising traditional trade in Indonesia is not a challenge for the faint ofSINGAPORE ARCHIVES
Just In. Trending. Foxconn ties up with Thailand’s PTT to make electric vehicles. Mingdutech nets over $47m and 16 more deal updates from Greater China. Softbank may sell $1.5b stake in Paytm, marking its largest exit in India after Flipkart. Chinese investment firm V-Capital secures $235m for new RMB fund.PARTNER CONTENT
The East Ventures Digital Competitiveness Index is an early sign that Indonesia’s digital economy is poised to expand significantly beyond its urban centers, backed by active interventions from the government, corporates, investors and startup founders SE ASIA'S VC FUNDS: Q4 2020 REVIEW SE Asia’s VC Funds: Q4 2020 Review. February 11, 2021. 227324. Southeast Asia’s venture capital firms raised $1.96 billion in 2020, a 39% drop from $3.23 billion in 2019, as travel restrictions imposed in the wake of the pandemic and increased limited partner (LP) caution affected fundraising. The number of fund closes dropped to 11 lastVIETNAM ARCHIVES
Masan Group arm buys 20% stake in Vietnamese tea brand Phuc Long for $15m. Both sides will jointly develop "Phuc Long Kiosk" through a network of more than 2,200 VinMart+ stores nationwide. Deals.PARTNER CONTENT
Partner content in association with Grab. How GrabFood is harnessing technology to overcome the challenge of food delivery in SoutheastAsia. Photo: Grab
RACHEL PHUA, AUTHOR AT DEALSTREETASIA Singapore tech giant Sea’s Q1 losses widen to $422m, revenue up 2.4x. The company booked revenue of $1.76 billion, up 147% from the same quarter last year. Analysis. HOW SMARTNEWS IS RESTORING BALANCE TO POLITICAL Partner content in association with ACA Investments. How SmartNews is restoring balance to political polarisation with ‘News From AllSides’ Times
DEALSTREETASIA
Peter Thiel-backed Bridgetown launches third SPAC, looks to raise $260m in IPO. The SPAC intends to focus on a target in the technology, financial services, or media sectors in SE Asia. Greater China. GREATER CHINA DEAL REVIEW: Q1 2021 Greater China Deal Review: Q1 2021. April 22, 2021. 237304. Startups in Greater China raised $24.1 billion across 464 PE-VC deals in Q1 2021 — the best performance in the past six quarters. The deal value grew 1.2%, while deal count rose 5.9% quarter-on-quarter. Despite a tepid January and February amid the Chinese New Year holidays, record HOW WARUNG PINTAR MOVED FROM A KIOSK FOCUSED STARTUP TO AN While closely associated with bright yellow kiosks, Warung Pintar is pursuing the far bigger ambition of transforming and digitalising traditional trade in Indonesia, with comprehensive solutions for all stakeholders Modernising traditional trade in Indonesia is not a challenge for the faint ofSINGAPORE ARCHIVES
Just In. Trending. Foxconn ties up with Thailand’s PTT to make electric vehicles. Mingdutech nets over $47m and 16 more deal updates from Greater China. Softbank may sell $1.5b stake in Paytm, marking its largest exit in India after Flipkart. Chinese investment firm V-Capital secures $235m for new RMB fund.PARTNER CONTENT
The East Ventures Digital Competitiveness Index is an early sign that Indonesia’s digital economy is poised to expand significantly beyond its urban centers, backed by active interventions from the government, corporates, investors and startup founders SE ASIA'S VC FUNDS: Q4 2020 REVIEW SE Asia’s VC Funds: Q4 2020 Review. February 11, 2021. 227324. Southeast Asia’s venture capital firms raised $1.96 billion in 2020, a 39% drop from $3.23 billion in 2019, as travel restrictions imposed in the wake of the pandemic and increased limited partner (LP) caution affected fundraising. The number of fund closes dropped to 11 lastVIETNAM ARCHIVES
Masan Group arm buys 20% stake in Vietnamese tea brand Phuc Long for $15m. Both sides will jointly develop "Phuc Long Kiosk" through a network of more than 2,200 VinMart+ stores nationwide. Deals.PARTNER CONTENT
Partner content in association with Grab. How GrabFood is harnessing technology to overcome the challenge of food delivery in SoutheastAsia. Photo: Grab
RACHEL PHUA, AUTHOR AT DEALSTREETASIA Singapore tech giant Sea’s Q1 losses widen to $422m, revenue up 2.4x. The company booked revenue of $1.76 billion, up 147% from the same quarter last year. Analysis. HOW SMARTNEWS IS RESTORING BALANCE TO POLITICAL Partner content in association with ACA Investments. How SmartNews is restoring balance to political polarisation with ‘News From AllSides’ Times
ABOUT DEALSTREETASIA About. DealStreetAsia™ is a Singapore-headquartered, subscription-driven media company, covering all deals – private equity, venture capital M&As, listings and the business of startups across Asia. We provide deals data, intelligence, and perspective on some of Asia’s most opaque markets to international and regionalinvestors.
MEET THE TEAM
Meet The Team DEALSTREETASIA gets its unique edge from a young and motivated team. We believe in the future of Asia and want to play witness and contribute to the region’s growth story. Editorial & Research Aastha Maheshwari Correspondent, Indonesia Andi Haswidi Head, Asean Research Ardi Wirdana Correspondent, Indonesia Cindy SilvianaWORLD ARCHIVES
HSBC exits loss-making US retail banking business as part of Asia pivot. It would retain a small physical presence in the US to serve international affluent and very wealthy clients. 1. 2. 3. . 818. ». PHILIPPINES ARCHIVES Former RedDoorz COO nabs funding from Insignia Ventures for cloud kitchen venture. Indonesia’s e-commerce unicorn Bukalapak files for domestic IPO. SE Asia Deal Review: Three megadeals lift startup funding to $3.25b in April, up 317%. Navis Capital picks up majoritystake in
DEAL STREET ASIA
DealStreetAsia – Premium provides deal news and perspectives on some of Asia’s most opaque markets to international and regional investors. We also track startups that are disrupting the status quo and playing an important role in the evolution of one of the fastest-growing regions of the world. Over the last five years, wehave
INDONESIA ARCHIVES
The complete list of investors in Indonesian e-commerce giant Bukalapak. Emtek Group buys minority stake in Grab’s Indonesia unit in sign of deepening alliance. Chinese AI startup MegaRobo raises $65m from Matrix Partners, Sinovation, others. INDIA DEAL REVIEW: Q1 2021 Indian startups raised $4.68 billion across 257 deals in the first quarter of 2021 to touch a five-quarter high.MALAYSIA ARCHIVES
Malaysia’s EPF posts 58% growth in Q1 gross investment income. Flipkart unit, Ace Turtle JV get licensing rights for Toys’R’Us in India. Hong Kong to test linking China’s digital yuan with its domestic payments networkTHAILAND ARCHIVES
Logistics firm Flash Express becomes Thailand’s first unicorn after raising $150m. The latest Series D+ and Series E rounds bring Flash Express's total fundraising to date to $550m. Deals. WOMEN IN STARTUPS: THE SE ASIA EDITION Women in Startups: The SE Asia Edition. March 22, 2021. 232261. This report examines the gender diversity — or the lack of it — in the startup funding ecosystem in Southeast Asia. So far, scant data on funds raised by women founders and co-founders was a sticking point in grasping the gravity of the issue. Hence, we decided it was time toDEALSTREETASIA
Peter Thiel-backed Bridgetown launches third SPAC, looks to raise $260m in IPO. The SPAC intends to focus on a target in the technology, financial services, or media sectors in SE Asia. Greater China. ABOUT DEALSTREETASIA About. DealStreetAsia™ is a Singapore-headquartered, subscription-driven media company, covering all deals – private equity, venture capital M&As, listings and the business of startups across Asia. We provide deals data, intelligence, and perspective on some of Asia’s most opaque markets to international and regionalinvestors.
MEET THE TEAM
Meet The Team DEALSTREETASIA gets its unique edge from a young and motivated team. We believe in the future of Asia and want to play witness and contribute to the region’s growth story. Editorial & Research Aastha Maheshwari Correspondent, Indonesia Andi Haswidi Head, Asean Research Ardi Wirdana Correspondent, Indonesia Cindy SilvianaPARTNER CONTENT
The East Ventures Digital Competitiveness Index is an early sign that Indonesia’s digital economy is poised to expand significantly beyond its urban centers, backed by active interventions from the government, corporates, investors and startup foundersWORLD ARCHIVES
HSBC exits loss-making US retail banking business as part of Asia pivot. It would retain a small physical presence in the US to serve international affluent and very wealthy clients. 1. 2. 3. . 818. ».SINGAPORE ARCHIVES
Just In. Trending. Foxconn ties up with Thailand’s PTT to make electric vehicles. Mingdutech nets over $47m and 16 more deal updates from Greater China. Softbank may sell $1.5b stake in Paytm, marking its largest exit in India after Flipkart. Chinese investment firm V-Capital secures $235m for new RMB fund.INDONESIA ARCHIVES
The complete list of investors in Indonesian e-commerce giant Bukalapak. Emtek Group buys minority stake in Grab’s Indonesia unit in sign of deepening alliance. Chinese AI startup MegaRobo raises $65m from Matrix Partners, Sinovation, others. GREATER CHINA ARCHIVES Mingdutech nets over $47m and 16 more deal updates from Greater China. We have also put together a table listing major VC deals in Greater China from May 28-31, 2021. Venture Capital.VIETNAM ARCHIVES
Masan Group arm buys 20% stake in Vietnamese tea brand Phuc Long for $15m. Both sides will jointly develop "Phuc Long Kiosk" through a network of more than 2,200 VinMart+ stores nationwide. Deals. RACHEL PHUA, AUTHOR AT DEALSTREETASIA Singapore tech giant Sea’s Q1 losses widen to $422m, revenue up 2.4x. The company booked revenue of $1.76 billion, up 147% from the same quarter last year. Analysis.DEALSTREETASIA
Peter Thiel-backed Bridgetown launches third SPAC, looks to raise $260m in IPO. The SPAC intends to focus on a target in the technology, financial services, or media sectors in SE Asia. Greater China. ABOUT DEALSTREETASIA About. DealStreetAsia™ is a Singapore-headquartered, subscription-driven media company, covering all deals – private equity, venture capital M&As, listings and the business of startups across Asia. We provide deals data, intelligence, and perspective on some of Asia’s most opaque markets to international and regionalinvestors.
MEET THE TEAM
Meet The Team DEALSTREETASIA gets its unique edge from a young and motivated team. We believe in the future of Asia and want to play witness and contribute to the region’s growth story. Editorial & Research Aastha Maheshwari Correspondent, Indonesia Andi Haswidi Head, Asean Research Ardi Wirdana Correspondent, Indonesia Cindy SilvianaPARTNER CONTENT
The East Ventures Digital Competitiveness Index is an early sign that Indonesia’s digital economy is poised to expand significantly beyond its urban centers, backed by active interventions from the government, corporates, investors and startup foundersWORLD ARCHIVES
HSBC exits loss-making US retail banking business as part of Asia pivot. It would retain a small physical presence in the US to serve international affluent and very wealthy clients. 1. 2. 3. . 818. ».SINGAPORE ARCHIVES
Just In. Trending. Foxconn ties up with Thailand’s PTT to make electric vehicles. Mingdutech nets over $47m and 16 more deal updates from Greater China. Softbank may sell $1.5b stake in Paytm, marking its largest exit in India after Flipkart. Chinese investment firm V-Capital secures $235m for new RMB fund.INDONESIA ARCHIVES
The complete list of investors in Indonesian e-commerce giant Bukalapak. Emtek Group buys minority stake in Grab’s Indonesia unit in sign of deepening alliance. Chinese AI startup MegaRobo raises $65m from Matrix Partners, Sinovation, others. GREATER CHINA ARCHIVES Mingdutech nets over $47m and 16 more deal updates from Greater China. We have also put together a table listing major VC deals in Greater China from May 28-31, 2021. Venture Capital.VIETNAM ARCHIVES
Masan Group arm buys 20% stake in Vietnamese tea brand Phuc Long for $15m. Both sides will jointly develop "Phuc Long Kiosk" through a network of more than 2,200 VinMart+ stores nationwide. Deals. RACHEL PHUA, AUTHOR AT DEALSTREETASIA Singapore tech giant Sea’s Q1 losses widen to $422m, revenue up 2.4x. The company booked revenue of $1.76 billion, up 147% from the same quarter last year. Analysis.REPORTS ARCHIVE
M&A deal value, which fell 17% year-on-year in Southeast Asia in 2020, looks poised for a rebound this year. View Report View Summary. India. View Report View Summary. Greater China. View Report View Summary.Southeast Asia.
DEALS - DEALSTREETASIA Navis Capital picks up majority stake in Malaysia’s Aurelius Healthcare. (Updated) AMTD Digital looks to raise $100m in NYSE IPO even as scrutiny tightens. The complete list of who owns how much in Indonesia’s newly-minted tech giant GoTo. Kredivo’s parent firm FinAccel builds 24% stake in Indonesia’s Bank Bisnis Internasional. PRIVATE EQUITY NEWS, CAPITAL MARKET NEWS FROM ASIA The complete list of investors in Indonesian e-commerce giant Bukalapak. Chinese AI startup MegaRobo raises $65m from Matrix Partners, Sinovation, others. KKR-backed PropertyGuru to acquire REA Group units in Malaysia, Thailand. IFC mulls $16m investment E-COMMERCE & INTERNET ECONOMY Media reports have said the deal is worth about $1.31b. Just In. Trending. US pension fund commits $20m to KKR’s global infrastructure fund. Editor’s take: The week that was — May 24-29. SE Asia Deal Review: Three megadeals lift startup funding to $3.25b in April, up 317%. Tata buys majority stake in Alibaba-backed Indianonline grocer
VENTURE CAPITAL
Indian microblogging platform Koo raises $30m led by Tiger Global. IIFL's venture capital fund and South Korea's Mirae Assets are other new investors who have come on board with this round. India. TECHNOLOGY - DEALSTREETASIA Read latest news, expert opinions, top insights on the business of technology, tech startup companies, advancement and latest development in tech companies across Asia REAL ESTATE & INFRASTRUCTURE Indonesia’s e-commerce unicorn Bukalapak files for domestic IPO. SE Asia Deal Review: Three megadeals lift startup funding to $3.25b in April, up 317%. Morgan Stanley said to be closing Indonesian onshore equities business. 500 Startups Vietnam general partners launchMALAYSIA ARCHIVES
Malaysia. Serba Dinamik independent directors express concern over audit matters. Serba last week said auditor KPMG had not been able to verify transactions worth $848.90 million with 11 customers.MYANMAR ARCHIVES
India’s Adani Ports may abandon Myanmar project if found to violate US sanctions. A write-down would not have a material impact as the project accounts for only about 1.3% of LOGGED OUT - DEALSTREETASIA Signed Out. You are signed out of DealStreetAsia. You will be redirected to the home page now.Skip to content
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* Real Estate and Infrastructure * Financial Services * Social Infrastructure SINGAPORE’S CAPITALAND TO CREATE APAC’S 3RD LARGEST REIT WITHMERGER OF TWO UNITS
Photo: Reuters
By Mars W. Mosqueda Jr.January 22, 2020
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Singapore-based real estate developer CAPITALANDis set to form Asia
Pacific’s third-largest diversified commercial real estate investment trust (REIT) with the proposed merger of its two units, CAPITALAND MALL TRUST(CMT) and
CAPITALAND COMMERCIAL TRUST (CCT), the firm announced Wednesday. To be named CAPITALAND INTEGRATED COMMERCIAL TRUST (CICT), the merged entity will be the largest REIT in Singapore, with a market capitalisation of S$16.8 billion ($12.4 billion) and a combined property value of S$22.9 billion ($17 billion). According to the announcement, the proposed merger of CMT and CCT will be effected by way of a trust scheme of arrangement, with CMT acquiring all units of CCT for a total consideration comprising approximately 88 per cent of in new units and 12 per cent in cash. CICT will bring together CMT’s portfolio of 15 downtown and suburban malls in Singapore with CCT’s portfolio of 10 prime office assets – eight in Singapore and two in Frankfurt, Germany. The REIT will be CapitaLand’s primary investment vehicle for commercial real estate in Singapore and other developed markets. It will add to CapitaLand’s real estate investment trusts listed on the Singapore Exchange, with global or developed market mandates, namely Ascendas Real Estate Investment Trust and Ascott Residence Trust. CapitaLand Group CEO Lee Chee Koon said the merger is “strategically compelling and timely”. “This merger, upon completion, will offer investors the options to invest in three global, developed market platforms in our core asset classes, and in three specialist emerging market platforms, to suit their specific preferences and risk appetite,” Lee said. The proposed merger, subject to the approval by unitholders of CMT and CCT, is expected to be completed before the end of the second quarter this year. CCT will become a wholly-owned sub-trust of CMT and will be delisted from the Singapore Exchange, CapitaLand said. CapitaLand is currently ranked as the ninth largest real estate investment manager globally and top in Asia. Its total market value is over S$57 billion ($42.2 billion). CapitaLand CapitaLandCommercial Trust
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SINGAPORE-BASED CAPITALAND PLANS TO DOUBLE AUM IN INDIA TO $5B BY 2024 In June this year, CapitaLand acquired Ascendas-Singbridge that has a strong presence in India with AUM of $2.6 billion.IPOs & Markets
SG-LISTED CAPITALAND RETAIL CHINA TRUST PLANS TO RAISE $203M IN EQUITYPLACEMENT
The gross proceeds will be used to finance the acquisition costs of three mall assets in China.* About Us
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