Grab snags US$200 million investment from South Korean private equity firm
SINGAPORE (BLOOMBERG) - South-east Asian ride-hailing leader Grab Holdings is raising US$200 million (S$275 million) from South Korean private equity firm Stic Investment s, according to people familiar with the matter.. Read more at straitstimes.com.
Seoul-based Stic Investments is looking to increase its exposure to the region and will invest about US$100 million from one of its funds while raising the remainder from co-investors, according to the people, who asked not to be named because the matter is private. Representatives of Grab and Stic declined to comment.
Despite the devastating impact Covid-19 has had on consumer businesses, Grab has been able to raise money to continue funding its ride hailing, food delivery and digital financial services. The Singapore-based firm is among the most richly financed tech start-ups in South-east Asia, having raised more than US$10 billion to date, including about US$3 billion from SoftBank Group. It's valued at US$14.3 billion, according to CB Insights.Read more: The Straits Times »
S'pore-HK air travel bubble starts May 26, 2 daily flights capped at 200 passengers each for first 2 weeks
Grab snags US$200m from Korean private equity firm[SINGAPORE] South-east Asian ride-hailing leader Grab Holdings is raising US$200 million from South Korean private equity firm Stic Investment s, according to people familiar with the matter. Read more at The Business Times.
South Korean sect leader arrested for hindering virus efforts[SEOUL] The elderly leader of a secretive South Korean sect at the centre of the country's early coronavirus outbreak was arrested on Saturday for allegedly hindering the government's effort to contain the epidemic. Read more at The Business Times.
South Korean star Ji Chang-wook would like to try working in a convenience storeSINGAP0RE - Though he is a famous actor in real life, South Korean star Ji Chang-wook says he wants to try working at a convenience store - just like Da-hyun, his character in romantic-comedy Backstreet Rookie.. Read more at straitstimes.com.
South China Sea: Chinese, Australian diplomats clash on TwitterDiplomats from Australia and China have clashed on Twitter after Canberra sided with the US in dismissing Beijing’s wide-reaching territorial claims in the South China Sea.In a filing to the United Nations last week, Australia described the claims as “without legal basis”.On Friday, Sun Weidong, China
Golf: South African Branden Grace tests positive for Covid-19 at Barracuda ChampionshipTRUCKEE, CALIFORNIA (REUTERS) - South Africa's Branden Grace has withdrawn from the Barracuda Championship prior to the third round after testing positive for COVID-19, the PGA Tour said on Saturday (Aug 1).. Read more at straitstimes.com.
South Africa COVID-19 cases surpass half a million, says health ministrySouth Africa's confirmed cases of COVID-19 have crossed half a million, the health ministry said on Saturday, while cases in Africa as a whole ...