The territorial dispute between China and Japan has caused the latter to pull out its investments from the country and redirecting its focus to other South East Asian countries where it has already funded companies with USD22.8 billion last year.
Southeast Asia
Kuala Lumpur, Malaysia-based taxi app GrabTaxi closed its Series A round with more than $1 million from Singaporean state-owned investment firm Vertex Ventures to conquer Southeast Asia.
Bangkok, Thailand-based digital publication platform Ookbee landed $7 million in a Series B funding led by Japanese outsourcing firm Transcosmos to fuel its Southeast Asian expansion.
Atlanta, US-based telephone and data networking firm Digitel Corp bought Cumming, Georgia-based managed IT services provider JTECH Networks for an undisclosed sum to expand its portfolio of services.
Bangalore, India-based mobile payment startup Ezetap Mobile Solutions is raising an unknown amount of additional capital from credit card giant American Express just a month after it had closed $8 million in its Series B round.
Chennai, India-based local language speech-based software solutions provider Uniphore Software Systems grabbed an undisclosed amount of funding from angel investors Indian Angel Network, Ray Stata, and YourNest Angel Fund for its international expansion.
Singapore-based non-profit organization Earth Hour joined forces with Singaporean crowdfunding site Crowdonomic to raise funds for tech projects that aim to assist environmental endeavors in Southeast Asia.
Thailand-based online entertainment firm Asiasoft Corporation Public Company Ltd is buying out the entire 30% stake of Philippine-based online game publisher IP E-Game in Level-Up to gain a 70% controlling stake in the latter.
Canada-based digital media firm Aimia Inc is purchasing a minority stake in Malaysia-based firm Think Big Digital Sdn Bhd, the owner and operator of AirAsia-Tune Group's loyalty program.
Malaysia will implement a new policy that will selectively allow foreign auto makers to manufacture small passenger cars, according to the chief executive officer of a trade ministry unit.
Kerala, India-based healthcare service provider Aster DM Healthcare is in talks with investment banks for a $200-million initial public offering (IPO) in London or Mumbai within a year.
San Francisco, US-based venture capital fund IDG Ventures invested an undisclosed sum in the first funding round of Bangalore, India-based mobile sales and marketing software maker FieldEZ Technologies.
Singapore-based lender Oversea-Chinese Banking Corp (OCBC) will spend around CNY1.8 billion ($298 million) to increase its stake in China-based firm Bank of Ningbo Co from 15.34% to 20%.
Vietnam has increased the foreign ownership caps in banks from the previous 15% to 20% in a bid to boost the country's ailing banking system, according to a government statement.
Netherlands-based independent tank storage provider Royal Vopak will invest in an independent import liquefied petroleum gas (LPG) facility in Banyan terminal at Jurong Island, Singapore.
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