In addition, Pakistan lifted the TikTok ban and conditionally resumed its operations; Bangladesh’s B2B platform ShopUp completed US$22.5 million in Series B financing, setting a record for the country’s Series B financing.
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Globalization of Chinese Enterprises
Pinduoduo cooperated with the Indonesian government to establish an Indonesian national store. According to KrASIA reports, Pinduoduo recently cooperated with the Indonesian government to establish an Indonesian national store. Deny W. Kurnia, the Consul General of the Republic of Indonesia in Shanghai, personally left the show on the same day and brought the goods live. The live broadcast attracted 450,000 people to watch and sold more than 100,000 items. Since July this year, Pinduoduo has established cooperative stores with governments of different countries, such as South Korea, Chile, etc. This greatly expands Pinduoduo’s product range and commercial competitiveness.
Pakistan lifts the TikTok ban and conditionally resumes its operations. According to The Paper News reported that the Pakistan Telecommunications Bureau issued an announcement stating that after communication and negotiation, TikTok agreed to press Pakistan demands to strengthen content management. In view of this, the Pakistan Telecom Bureau decided to lift the ban on TikTok and resume its operations in Pakistan conditionally. In response, Foreign Ministry spokesperson Zhao Lijian said that we have taken note of relevant reports. The Chinese government has always advocated that companies operating overseas should strictly abide by international rules and laws and regulations of the host country, and fully respect local customs and religious beliefs. It is believed that relevant parties will continue to properly and thoroughly handle relevant issues through friendly consultations.
Southeast Asia
Singapore Maple Tree Logistics Trust (MLT) plans to acquire multiple logistics properties for S$1.09 billion. According to The Business Time, Singapore Maple LogisticsMAPLETREE Logistics Trust (MLT) announced that it will acquire logistics real estate in China, Malaysia and Vietnam with a total value of 1.09 billionNew Yuan (approximately US$800 million).
Popping received a $360 million strategic investment led by the Ontario Teachers’ Retirement Foundation. According to the investment community quinn, Singapore Puping Data (PDG) has signed an agreement with the Ontario Teachers’ Pension $360 million led by the investment. Puping Data was founded 3 years ago and is committed to providing services for the expansion of large data centers in Asia, with operations in China, India, Indonesia and other regions.
India
Indian medical technology company InnAccel received US$1.5 million in Pre-A round of financing. According to Yourstory, Bangalore-based medical technology company InnAccel received US$1.5 million in a Pre-A round of financing, led by Mount Judi Ventures. InnAccel was established in 2012. It has grown from a medical technology support service provider to a medical technology company with independent products, providing technical support for constantly changing modern medical problems.
Middle East
Israeli semiconductor supplier VisIC Technologies completed E round of financing. The Associated Press reported that Israel’s VisIC company received an E round of financing. The investor is MediaTek Technology Co., Ltd., the specific amount was not disclosed. VisIC Technologies is an Israeli supplier of gallium nitride power semiconductors, focusing on gallium nitride devices and high-power automotive solutions for automotive high-voltage applications. The funds will be used to expand the product portfolio and lay a solid foundation for product production.
Africa
Catalyst Fund, Mastercard Foundation and MEST jointly launched a digital economy accelerator in Ghana. According to Disrupt Africa reports, Catalyst Fund, Mastercard Foundation and MEST jointly launched a $4.3 million digital economy accelerator project in Ghana, Africa, which will be officially launched at a virtual event on the 4th of next month. The accelerator aims to help local small and medium-sized enterprises alleviate the pressure of the epidemic and help them gradually resume normal corporate and financial operations.
Others
South Korean chip manufacturer SK Hynix acquired Intel’s NAND memory chip business for US$1 billion. According to NikkieAsia, SK Hynix, the world’s second-largest chip manufacturer, acquired Intel’s flash memory chip business for US$9 billion to enhance its competitiveness against Samsung. SK Hynix is already the world’s second largest DRAM chip manufacturer, but it lags slightly behind in terms of NAND memory chips, and this field has been controlled by SK Hynix’s competitor Samsung. The company’s CEO Seok-Hee Lee said: “This acquisition will optimize our business structure and improve our position in the NAND flash memory market.”
Bangladesh’s B2B platform ShopUp completed US$22.5 million in Series B financing, setting a record for the country’s Series B financing. According to Yourstory report, Bangladesh’s B2B business platform received a US$22.5 million Series B financing jointly led by Sequoia Capital and Flourish Ventures.Capital, setting a record for the largest round B financing in Bangladesh. At the same time, this is also the first investment of India’s Sequoia Capital and Flourish Ventures in Bangladesh. ShopUp is mainly engaged in B2B services for small merchants, helping small retail stores to connect with suppliers, and providing distribution and capital turnover services.
文｜Pei Yixin@出海
Picture｜Picture Worm
