Lazada, the "Amazon of Asia" has raised USD250 million from Rocket Internet to mainstream the company's position as the largest online retailer in Southeast Asia.
Philippines
Robinsons Retail buys local operator of Shiseido, Benefit cosmetic unit in the Philippines
Robinsons Retail Holdings Inc. has bought Beauty Skinnovations Retail Inc. (BSRI) for an undisclosed sum. BSRI operates the Philippine stores of Japan's Shiseido Co. Ltd. and US' Benefits Cosmetics LLC.
Southeast Asia is the key to economic growth - Japan businesses
At a luncheon meeting hosted by Keidanren lobby group and the Japan Chamber of Commerce and Industry, corporate leaders expressed the key importance of the Association of Southeast Asian Nations for the revival of the Japanese economy.
PLDT completes sale of 27% ePLDT stake to Philippine firm Philweb
Philippine-based telecommunications firm Philippine Long Distance Telephone Company (PLDT) completed the divestment of its 27% holding in its wholly owned subsidiary ePLDT Incorporated to Philweb Casino Corporation (PCC).
Splash exits interest in Medical City operator in the Philippines
Philippines-based personal care manufacturer Splash Corp announced the sale of its minority interest in Medical City owner and operator Professional Services Inc for PHP295 million.
Latest News
Philippine-based grocery chain Puregold Price Club Inc has purchased a 49.34% stake in supermarket chain San Roque Supermarket, with plans to increase Puregold's exposure in several Metro Manila areas.
German startup accelerator Rocket Internet raised USD112 million in new funding for online fashion retailers Zalora and The Iconic, making it the biggest single investment made for an e-commerce company in the Asian Pacific region.
Philippine mall and banking conglomerate SM Investments Corp (SMIC) has purchased five business process outsourcing (BPO) buildings in Bonifacio Global City, Taguig for an undisclosed amount.
Thanks to the decline in deals in Greater China, demand and pay for Southeast Asian investment bankers as deal makers had seen an increase, according Thomson Reuters data.
The Monetary Board of the Bangko Sentral ng Pilipinas has cleared the USD500 million loan from the Asian Development Bank. The said fund will be used to rehabilitate and reconstruct communities struck by super typhoon Haiyan.
The central bank of the Philippines approved the merger between China Bank Savings In and rural bank Unity Bank Inc, expanding China Bank's network to 90 branches.
SwissRe's recent report titled "Global insurance review 2013 and outlook 2014/15" provided an otherwise positive global economic outlook, which was a good sign in the non-life business as more people will seek financial protection for their properties.
Banco de Oro (BDO), the top lender in the Philippines, has successfully completed a PHP5 billion fundraising through an offering of high-yield deposits to retail and institutional investors.
Australia-based gas and oil explorer Octanex said the main reason for its merger with Peak Oil & Gas was the latter's access to exploration projects in the Philippines and in Indonesia.
