trending Market Intelligence /marketintelligence/en/news-insights/trending/dyoizsqw7vxcg9sfuygnxg2 content esgSubNav
In This List

Tencent commits US$400M to Meituan's IPO; China censors Australia's ABC site


Street Talk | Episode 103 - Investors worry about bank liquidity, earnings drag from underwater bonds


Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes


Spotlight on sustainability How banks can overcome the challenges of achieving Net zero by 2050


Distressed Debt: Investment Risks and Opportunities

Tencent commits US$400M to Meituan's IPO; China censors Australia's ABC site


* Beijing-based online services company Meituan-Dianping is set to launch its Hong Kong IPO that aims to raise up to US$4.5 billion, people familiar with the matter told The Wall Street Journal. Tencent Holdings Ltd., a major backer of Meituan, reportedly committed US$400 million in the listing that could value the company at roughly US$55 billion.

* China blocked users from accessing the website of Australian Broadcasting Corp., citing breach of the country's internet rules and regulations but did not specify any violations, ABC reports. Access to the website and apps operated by Australia's national broadcaster were blocked a day after the Australian government banned Huawei Technologies Co. Ltd. and ZTE Corp. from providing equipment for the country's planned 5G rollout.


* Kyoto-based motor manufacturer Nidec Corp. completed its acquisition of German robotics parts maker Ms-Graessner GmbH & Co. KG and its group companies for an undisclosed sum. The buyout is the first of Nidec's five planned acquisitions of German robotics companies, according to Nikkei Asian Review.

* NEC Corp. launched an alliance with Microsoft Japan Co. Ltd to offer a service that facilitates the use of Microsoft 365 under the name NEC 365. The NEC product incorporates the know-how of 5,000 companies to address cloud-based issues relating to Office 365.

* Dentsu Tec, the digital promotion arm of advertising giant Dentsu Inc., launched a new company that offers marketing support by unifying and managing personal consumer data. My Data Intelligence responds to the need for personal data management springing from new regulations both in Japan and overseas.

* JapanTaxi, a taxi hailing app, introduced mobile tablet for cabs that can be used for cashless transactions using credit cards, prepaid cards and other digital means.


* The Telecommunications Technology Association of Korea will host a meeting to discuss cooperation on 5G standards with Japan and China, IT Chosun reports. The three countries will focus on 5G-based autonomous driving technology, and will work on the joint technology report by the end of 2019.

* Nokia Corp. and ID Quantique SA, a Swiss quantum cryptography company owned by SK Telecom Co. Ltd., successfully tested the quantum cryptography between IDQ's quantum key distribution system and Nokia's optical transport system, Yonhap News Agency reports. The three companies have been cooperating since 2016, and plan to further their cooperation on the quantum random number generator technology.

* In other SK Telecom news, the telco upgraded its AI-based navigation service T Map X Nugu based on voice information data accumulated over the past year. The new version features an info-entertainment function that can suggest listening to songs while in a traffic jam.

* CJ ENM CO. Ltd. will support promising startups in collaboration with local nonprofit foundation D.CAMP, ZDNet Korea reports. The startup support program focuses on content and e-commerce-related startups.


* Tencent-backed online ticketing platform confirmed plans to list in Hong Kong, Yicai reports. The Chinese company is reportedly valued at 20 billion yuan.

* Xiaomi Corp. successfully tested 5G connectivity on its smartphones and plans to roll out the 5G-enabled devices in 2019, Tencent News reports. The Chinese company is also looking to develop more 5G applications, including narrowband internet of things application in smart homes.

* IQIYI Inc. will come up with a more comprehensive measure to indicate the popularity of shows on its platform, which includes frequency of discussion and interactivity. The Baidu Inc.-owned video streaming service said the new index will help eliminate low quality videos and will apply AI to customize content recommendations for users.

* In other iQIYI news, the company reached an agreement with Air New Zealand Ltd. under which the airline will offer passengers an array of premium iQIYI content on its aircrafts' in-flight entertainment system.


* Hathway Cable & Datacom Ltd.'s promoters have shown interest to invest around 1.5 billion Indian rupees into the company, Television Post reports. The funding would be a mix of equity infusion and quasi-equity in the form of long-term unsecured loans or inter-corporate deposits.

* Balaji Telefilms Ltd. appointed executive movie producer Aashish Singh as CEO of its movie business. Singh will be reporting to group COO Nachiket Pantvaidya.

* Inc.'s Indian arm launched a small pilot that showed its mobile website's interface in the Hindi language as it looks to capture the untapped share of the local e-commerce market, The Economic Times (India) reports. The development reportedly marks Amazon's debut in using vernacular languages.


* Lippo Group's tech-enabled last mile delivery subsidiary Red Carpet Logistics secured an investment from Japan's Sumitomo Corp. reportedly worth around ¥1 billion, according to Nikkei Asian Review.

* Piotr Jakubowski, chief marketing officer of Indonesian ride-hailing giant PT Go-Jek Indonesia, has left the company, Detik reports.

* Indonesian internet service provider PT Internux is attempting to restructure its liabilities, Kontan reports. Three creditors have brought PT Internux, a subsidiary of media company PT First Media Tbk, into the suspension of debt payment obligation status in the court.

* Thai telco Total Access Communication PCL, or Dtac, will partner with Chinese smartphone maker Xiaomi to offer special discounts on the Mi Max 3 phablet. From Sept. 7, Dtac will offer reductions of up to 4,000 baht on the 6.9-inch Mi Max 3, which is Xiaomi's largest handset to date.

* True Corp. announced a new internet of things partnership with local real estate developer Origin Property PCL, Daily News reports. Under the deal, True will supply Origin Property with smart home technologies such as facial recognition scanning, QR Code functionality, smart energy and smart parking devices.


* ASX-listed satellite company Sky and Space Global Ltd. inked an agreement with Foundation Busie Suriname, an internet service provider in South America, to enable the provision of internet and online connectivity services to underserviced regions in Suriname.

* Vocus Group Ltd. will build a 60-kilometer fiber optic cable link system between Darwin and Tiwi Islands in a capital grant arrangement with the Northern Territory government. The sub-sea system is scheduled to be complete by the end of 2019.

* Vodafone Hutchison Australia Pty Ltd. unveiled a new technology for helping improve voice, data and internet of things connectivity in regional areas. The telco said it successfully trialed two of its plug-and-play Vodafone Regional Coverage Hub devices, which deliver 4G voice and data services in locations where commercial networks are not traditionally deployed. The new solution is expected to be launched during the second half of 2019.


Data Dispatch: Mobile operators around the world face uphill struggle to lift ARPU: In spite of the explosive growth in the use of smartphones in recent years, mobile operators across the globe are struggling to improve their average revenue per user, or ARPU.


BeIN on the outs with another MVPD: AT&T becomes the third provider in a month to enter a carriage dispute with the sports network.

Ikrama Ranjha, Joji Sakurai, Myungran Ha, Emily Lai, Ed Eduard and Patrick Tibke contributed to this report. The Daily Dose has an editorial deadline of 7 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.