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News on Medial
Hong Kong clothing firm Epic Group taps overseas investor for India expansion
VCCircle
·
1y ago
Medial
Hong Kong clothing firm Epic Group Holdings Ltd. is seeking an overseas investor to secure funds for its expansion into India. The company, known for its manufacturing operations in Bangladesh, is planning to establish its first garment factory in India. Epic Group recently acquired 40 acres of land in India's southern state of Karnataka. The move comes as part of the company's larger strategic plan to diversify its manufacturing base and leverage India's growing textile industry.
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Meet the 20 top-funded startups and tech companies in Hong Kong - StartupNews.fyi
Startup News FYI
·
1y ago
Medial
Below are the firms in Hong Kong drawing significant investor interest, equipped with ample resources to invest in software, talent, and expansion.
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Ant unit plans to apply for stablecoin issuer license in Hong Kong
Economic Times
·
1m ago
Medial
Ant Group's overseas unit, Ant International, plans to apply for a stablecoin issuer license in Hong Kong. This move follows the recent passage of a stablecoin bill by Hong Kong's legislature, creating a licensing framework for fiat-referenced stablecoin issuers. Ant Group, backed by Alibaba, aims to apply once the new ordinance takes effect on August 1. Additionally, there are plans to seek stablecoin licenses in Singapore and Luxembourg.
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Hong Kong-based ADM Capital set to get LP commitment for fund with India mandate
VCCircle
·
1y ago
Medial
Hong Kong-based investment firm, ADM Capital, is seeking a limited partner for its new fund targeting the development of smart cities in Asia. The ADM Asia Secured Lending Fund III LP - Elkhorn aims to attract a commitment from an offshore investor.
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Hong Kong allows China's digital yuan to be used in local shops
Reuters
·
1y ago
Medial
Hong Kong will allow mainland China's digital yuan to be used in shops, a move aimed at promoting the internationalization of the Chinese currency. The program, backed by Beijing, will enable residents of mainland China and Hong Kong to open digital yuan wallets and make payments in retail shops and some online stores. The digital currency has gained popularity in China, with transactions reaching 1.8 trillion yuan ($249.27 billion) as of June 2023. The expansion of the e-CNY pilot in Hong Kong will facilitate merchant payments in mainland China by Hong Kong residents.
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APAC-focused ADM Capital sees India investments slowing due to macro risks
VCCircle
·
11m ago
Medial
Hong Kong-based credit investor, ADM Capital, expresses concerns about potential macroeconomic risks impacting its investment pace in India. While the firm expects overall growth, it anticipates a slowdown due to various macro factors. ADM Capital, which focuses on the Asia-Pacific region, is a prominent player in private credit with significant assets under management.
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RBI Taps global counterparts for efficient cross-border digital currency transactions
Inc42
·
1y ago
Medial
The Reserve Bank of India (RBI) is collaborating with the US, Hong Kong, and the Society for Worldwide Interbank Financial Telecommunications (SWIFT) to explore fast and cost-effective digital cross-border settlements using central bank digital currencies (CBDCs). The RBI's internal working group is examining technological options to establish a roadmap for direct transactions between countries. RBI Governor Shaktikanta Das has emphasized the potential of CBDCs to facilitate efficient and faster cross-border payments in an increasingly technology-driven world. The RBI has already launched pilots for its CBDC, the digital rupee, in both wholesale and retail segments.
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Tata Capital taps offshore investor to ramp up microfinance business
VCCircle
·
1y ago
Medial
Tata Capital, the financial services arm of the Tata Group, is raising $125 million from an overseas investor to expand its microfinance business. The Mumbai-based company aims to strengthen its position in the sector after merging two of its subsidiaries.
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China's Pony.ai eyes robotaxi services in Hong Kong, joining Baidu
Economic Times
·
7m ago
Medial
Pony.ai, a Guangzhou-based autonomous driving company, plans to launch robotaxi services in Hong Kong, initially targeting airport staff, before expanding city-wide. This move comes amidst competition from Baidu, which also aims to introduce driverless taxis in Hong Kong after obtaining trial approval. Pony.ai, already licensed for services in major Chinese cities, is also exploring opportunities in South Korea, Luxembourg, the Middle East, and other regions for future business expansion.
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China's Ant Group plans to list overseas unit in Hong Kong, report says
Economic Times
·
3m ago
Medial
Ant Group, an affiliate of Alibaba, plans to list its overseas unit, Ant International, on the Hong Kong stock exchange, as reported by Chinese media. The company is reportedly in talks with regulators about the potential listing, though it’s unclear if discussions are with Chinese or other regulators. Ant's previous $37 billion IPO was halted by Chinese authorities in 2020, leading to a restructuring and a fine. Ant is also seeking a financial holding company license.
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PAG ropes in fourth co-investor for big-ticket India deal
VCCircle
·
2m ago
Medial
PAG, a prominent Asia-Pacific-focused private equity firm managing over $3 billion in Indian assets, has enlisted a fourth co-investor for a significant control-oriented deal secured earlier this year. Headquartered in Hong Kong, PAG's Indian portfolio includes Nuvama Wealth Management, Sekhmet Pharmaventures, and Acme Formulation among others. This strategic move underscores PAG's commitment to expanding its investment footprint in India's growing market.
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