trending Market Intelligence /marketintelligence/en/news-insights/trending/O2uuwwJebczL9HQB3i0u-A2 content esgSubNav
In This List

Royole to raise US$1B ahead of IPO; Baidu launches executive retirement plan

Case Study

An International Logistics Company Streamlines Transfer Pricing for Its Extensive Network of Subsidiaries


Next in Tech | Episode 168: AI Data Strategies


Street Talk | Episode 126: Hunting the bears, making the bull case for CRE


Investment Banking Essentials May 15

Royole to raise US$1B ahead of IPO; Baidu launches executive retirement plan


* Shenzhen-based flexible display maker Royole Corp. is looking to raise about US$1 billion ahead of its initial public offering, people familiar with the matter told Bloomberg News. The Chinese company is reportedly seeking a valuation of at least US$8 billion in the funding round as it seeks to expand its sales, marketing and research facilities.

* Baidu Inc. revealed an executive retirement plan aimed at revitalizing its management team amid slowing ad revenue growth and shrinking user base, TechNode reported. In an internal letter to employees, Baidu founder Robin Li said company president Zhang Yaqin will be the first executive to retire after five years with the company.

* China passed a new foreign investment law aimed at ensuring a level playing field for domestic and foreign companies in the country, the Xinhua news agency reported. The law, passed by the National People's Congress at the end of its annual session, will take effect Jan. 1, 2020. The new law is reportedly meant to help end Beijing's tariff war with Washington by discouraging officials from pressuring foreign companies to hand over technology, according to Associated Press.


* K-Vision Co. Ltd., a Japanese mobile network solutions company, will be acquired by India's Tech Mahindra Ltd. in a US$1.5 million deal, The Economic Times (India) reported. The move is aimed at bolstering Tech Mahindra's strategy to support the roll out of 4G and 5G network in Japan.

* Instagram Inc. will set up its first overseas development unit in Tokyo this summer, focusing on new services and research on Japanese user trends, Kyodo News reported. The Facebook Inc. subsidiary aims to boost its user base in Japan ahead of the 2020 Tokyo Olympics.


* Google LLC said it will work closely with the Korea Fair Trade Commission to voluntarily revise its terms of services, following the antitrust regulator's corrective recommendations against the company on issues related to users' privacy, Korea JoongAng Daily reported.

* SK Telecom Co. Ltd. is partnering with Coactus, a local startup that develops driving-aid solutions, to launch a taxi-hailing app dedicated to taxi drivers with hearing impairments, Korea JoongAng Daily reported.


* Members of some Reddit Inc. communities are worried about what they perceive to be a coordinated effort by pro-China accounts to influence political discussion involving the country, Buzzfeed News reported. Sources say there has been an increase in posts from newly created accounts that downvote content critical of China. The news comes a month after Tencent Holdings Ltd. invested US$150 million in Reddit.

* Inc. announced that Chen Zhang will step down as chief technology officer and become a U.S.-based senior adviser to the company, effective June 30.


* Police in the western Indian state of Gujarat recently arrested 10 people for playing Tencent's hit title, "PlayerUnknown's Battlegrounds Mobile," CNBC TV18 reported. The arrests took place in the city of Rajkot, where the game has been banned since March 6. Tencent India said the company is now in talks with the authorities to lift the ban, according to Times Now.

* BSNL will approach India's National Company Law Tribunal this week to recover dues of about 7 billion Indian rupees from Reliance Communications Ltd., sources told Press Trust of India.

* Vodafone Idea Ltd. is teaming up with Inc. to offer one-year Amazon Prime membership to Idea Nirvana postpaid customers at no additional cost, Television Post reported. Under the the tie-up, Idea Nirvana customers will gain access to Prime Video, Prime Music, Prime Reading and unlimited shipping.


* United Malays National Organization, a political party in Malaysia, will sell its 19% stake in Media Prima Bhd., New Straits Times reported. Mohamad Hasan, acting president of UMNO, said the party will let go of its shares in the integrated media company due to monetary constraints following the 2018 elections.

* Telekom Malaysia ended its eight-year sponsorship contract with the Malaysian Football League, which is reported to be worth 480 million ringgit, Free Malaysia Today reported. MFL CEO Kevin Ramalingam said there are other sponsors who have given their commitments, such as video on-demand platform iflix Sdn. Bhd. and sports marketing company Ampersand.

* Indonesian e-commerce startup PT. Tokopedia invested an undisclosed amount in local digital wallet OVO, Tech in Asia reported.

* Thailand's National Broadcasting and Telecommunications Commission is preparing to remove the cap on call, SMS and MMS charges across all mobile networks, Prachachat reported. The regulator said it hopes new legislation can be implemented within the next three months.

* Advanced Info Service PCL will launch what it claims as Thailand's first and only dedicated esports channel called AIS eSports | eGG Network Channel on AIS Play and AIS Playbox. The move is part of the company's new strategy to support the country's esports industry.


* Australia Prime Minister Scott Morrison has called for live-streaming to be suspended on social media as Facebook, Twitter Inc. and YouTube LLC took heat from politicians around the world for failing to stop the spread of video footage of the terrorist attack in Christchurch, New Zealand, The Australian Financial Review reported.

* Foxtel Cable Television Pty Ltd. is ramping up its customer retention efforts by offering select subscribers free iQ4 set-top box upgrades and movie packages for a year. According to The Australian Financial Review, the new offerings follows the launch of Foxtel's sports streaming service Kayo Sports in November 2018 and ahead of a new video on-demand service coming later this year.


Data Dispatch: 'Captain Marvel' continues to soar over box office competition: Three debut films opened in the shadow of "Captain Marvel" over the March 15 weekend as the Disney superhero flick charged past $500 million in total box office receipts.


Wireless Investor: Cord cutter's guide to sports apps, 2019: Three events stand out in the last year: the MLB's success streaming 26 games via Facebook, MLS throwing in the towel on MLS Live and our survey data indicating that, for the first time, NBA's top-tier digital audience is now the same size as MLB's.

Joji Sakurai, 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.