Asia News Roundup: Razer Acquiring Fintech Firm MOL Global, Nio To Set Up $500M Auto Fund

Razer co-founder Min-Liang Tan (center) / Photo credit: Razer

Here’s what happened in tech today and this weekend.

Fintech

Razer to fully acquire MOL Global (Singapore). The gaming lifestyle company today announced its intention to acquire Malaysian fintech firm MOL, a move that comes after it bought a 34.9 percent stake last June. Razer wants to get the remaining 65.1 percent of MOL Global’s issued share capital for a cash consideration of approximately US$61 million. The proposed merger, which is subject to approval from MOL Global’s shareholders, will combine the two companies’ virtual currencies: Razer’s zGold and MOLPoints by MOL. (Razer)

Soft Space raises series B funding from Sumitomo Mitsui (Malaysia). The Malaysian fintech startup reported the closing of a series B investment with Sumitomo Mitsui Card Company – a subsidiary of Tokyo-headquartered financial giant Sumitomo Mitsui – paving the way for its entry into the Japanese market. The investment is seen as positively spurring Soft Space’s business growth opportunities in Japan and the wider region. (Soft Space)

Ecommerce

Nykaa scores US$11.3 million, claims US$453 million valuation (India). The beauty e-tailer secured the investment from several family offices and high-net-worth individuals. Nykaa – which is said to hold 33 percent of India’s online market in beauty products and services – claims it is “EBITDA-breakeven” and is aiming to be profitable by FY2019. The startup said it would use these latest funds to enhance retail distribution to boost its private-label offering, which currently comprises less than 10 percent of its revenue. (The Economic Times)

Transportation

Nio to set up US$500 million venture fund (China). The electric-vehicle maker’s VC arm, Nio Capital, is building the offshore fund to invest in new automotive technologies worldwide. Also known as NextEV, Nio – which has raised funding from Baidu, Lenovo, and Tencent, among others – was one of the first companies to be awarded a license to test autonomous vehicles in China. The Shanghai-based startup is said to be planning a US$2 billion IPO in America later this year. (Bloomberg)

Mobike claims shift from “rapid to responsible” growth strategy (China). On Earth Day, the Chinese bike-sharing firm said it would stop distributing new bicycles in areas considered to be oversaturated with dockless hire bikes. This was one of the company’s first public announcements since being taken over by Meituan-Dianping in a US$3.4 billion deal earlier this month. Mobike also plans to share data with the Chinese government to help improve urban planning processes and has committed US$15.9 million to improving its user credit scoring system, which punishes or rewards cyclists according to their conduct while using its service. (TechNode)

Health and well-being

Doxper secures US$1.1 million funding (India). The startup, which helps doctors manage outpatient records, said it will use the capital to expand to Southeast Asia, the UK, the Middle East, Brazil, and South Africa by early next year. It’s already piloting overseas operations in Bangladesh and Nigeria. Vidal Healthcare led the pre-series A round, having joined Doxper’s August 2017 seed round alongside Capier Investments, Globevestor, and a number of angel investors. (Inc42)

Property and real estate

Revolution Precrafted lands US$300 million Caribbean deal (The Philippines). The maker of prefab homes has expanded into the Caribbean market with an exclusive dealership with NOVO Development, a real estate company based in Trinidad and Tobago. The partnership is the first part of a multi-phase plan to develop up to $1 billion of property in the region’s growing housing sector. (Revolution Precrafted)

Social media

“Fake news” is also a problem for WeChat (China/US). WeChat-focused news providers in the US tend to favor emotive topics such as immigration and race relations over more general issues like employment and healthcare, according to a study by Columbia University’s Tow Center for Digital Journalism. Researchers also found that news published on WeChat was rife with sensationalism and misinformation when compared to both English- and Chinese-language mainstream media. Echoing similar controversies involving Facebook and Twitter, the Chinese app’s low barrier to entry “has generated a profusion of content publishers native to the platform and intense competition for attention,” and “the abundance of revenue-driven content published, coupled with partisan forces” makes it “especially vulnerable to political misinformation,” said the report. (TechNode)

Revolution Precrafted founder among 25 BuiltWorld Pioneers

by The Philippine Star

Robbie Antonio, the founder and CEO of unicorn propertytech startup Revolution Pre-crafted, has been chosen as part of BuiltWorld’s first-ever Mavericks Report: “25 Pioneers Who’ve Transformed The Built Industry,” a recognition of the most influential movers and shakers in the fields of global architecture, engineering, construction (AEC) and re- industry (RE)

BuiltWorld is a global online re source for players in the AEC and RE industries.

The prestigious accolade puts Antonio alongside some of the most esteemed luminaries in real estate, venture finance, architecture/design, construction, engineering and software solutions. These include Tesla founder Elon Musk, Pritzer-award winner Frank Ghery and American unicorn founders Adam Neumann of Wework and Michael Marks of Katerra, among others.

“We are humbled by this citation from BuiltWorld. We feel so honored to be part of such esteemed individuals who have helped transform their respective industries, and helped create a better, more modern world,” Antonio said.

Revolution Precrafted is a company that manufactures, supplies and ships limited edition, design driven prefabricated homes, pavilions and other related structures. The company has partnered with 73 of the world’s most preeminent ar-chitects, designers and artists from around the world including Zaha Hadid, Jean Nouvel, and Christian de Portzamparc, among others.

Robbie Antonio

“In order to disrupt the land-scape, you have to be more innovative and you have to take more risks. Creating luxury prefabricated homes was a big challenge because before the company, people don’t really associate prefabricated homes and structures to quality and luxury. But we saw the opportunity to create something different and we took the risk. The payoff has been quite re warding,” Antonio added.

Since its inception in 2015,Revolution Precrafted has since become the fastest company to reach startup status in Southeast Asia, valued at $1 billion.

It has bagged close to $6 billion worth of projects, including $1.1-billion Batulao Artscapes in Nasugbu, Batangas and the $350-million Revolution Flavorscapes project in Mexico, Pampanga.

In March, the company announced its $3.2-billion partnership with Seven Tides to build condominiums, apartments and hotel villas on nine islands at “The World” project in Dubai. The company also signed a deal with Myanmar’s KT Group for the supply of homes and retail structures for the $1.2-billion Okkyin mixed development project in Yangon.

 

Related Links: About Robbie Antonio , Contact

PH Company Secures Billion-Dollar Deal With Dubai Firm

by The Filipino Times

A local designer and supplier of prefabricated structures in the Philippines has set a $3.2B deal with Dubai firm Seven Tides to develop parts of “The World” located in the waters of the Persian Gulf.

The World is a collection of 300 artificial islands which represent the world’s continents and countries, reported Inquirer.

Robbie Antonio, founder and CEO of Revolution Precrafted, said that the developers aim to build two-to-three bedroom luxury apartments and villas in the area which will be priced at $150,000 to $1.5 million.

Antonio added that developments are set to happen in nine islands in The World soon and that the construction will begin in the so-called Coronation Island.

The company currently tries to broaden their market by being more price sensitive. The current target markets are home buyers from Russia and Europe.

Aside from targeting the Russian and European market, Revolution Precrafted also plans to reach 20 more countries in the next 12 months, including Myanmar and other key markets in Southeast Asia.

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Related Links:  Contact Us, About Robbie Antonio 

Revolution Precrafted Ties Up With Myanmar Conglomerate

by The Philippine Star

Revolution Precrafted founder and CEO Robbie Antonio (middle) and KT Group executive director Deborah Kyaw Thaung (right) sign the partnership agreement, while KT Group director Harriett Kyaw Thaung looks on.

MANILA, Philippines — Revolution Precrafted, one of Southeast Asia’s strongest unicorns – or startup companies valued at over $1 billion –  has tied up with Myanmar conglomerate KT Group for several projects, including the $1.2-billion Okkyin City riverside property in Yangon.

“We are excited to announce our agreement for the manufacture, shipping and installation of prefabricated homes to Myanmar, one of the fastest growing economies in Southeast Asia. We are also pleased to partner with KT Group, one of the most influential and respected diversified companies in the region,” said Robbie Antonio, Revolution Precrafted founder and CEO.

The non-exclusive agreement involves the manufacture and supply of prefabricated homes in key developments in the historic city of Yangon.

Antonio said Revolution Precrafted has agreed to build residential projects in the Okkyin mixed-used development project, which would cost at least $350 million to develop.

The Okkyin project will include a jetty pier, sports and recreation facilities, bus terminal, green parks, a school, a student accommodation, a business park, a sports hotel, and a riverfront retail and commercial pop-up network.

Aside from Okkyin, Antonio said Revolution Precrafted is also in talks with the KT Group to develop other land assets in Yangon.

Revolution Precrafted intends to build 36-square meter Origins and 23 square meter Crib basics for Myanmar homebuyers. These are simple, sleek but functional prefabricated homes that can be completed in three to six months.

“We believe that these mid-market prefabricated homes will appeal to a significant chunk of the Myanmar population,” Antonio added.

“Myanmar is an emerging economy with 53 million people. We want to take advantage of this sizable market and make it a cornerstone of our regional expansion, especially now that the country is also opening itself to global trade and investments,” Antonio added.

He said Revolution Precrafted’s entry into the Myanmar market is a key milestone that strengthens the companys expansion to Indochina and the rest of the world.

Established in the 1950s, KT Group is one of the largest diversified firms in Myanmar. Its core business is real estate and property development but has since expanded into energy, trading, investments and agriculture. It has also expanded to included branches in Bangalore, India and Kunming, China.

On the other hand, Revolution Precrafted, launched in 2015, is a tech-based property company that disrupted the global architecture, design and art industries through its design-forward homes, pavilions, hotels, furniture, glamping structures, and soon, office spaces.

Still the only unicorn startup in the Philippines, it has in less than two years already partnered with 72 of the world’s preeminent architects, designers and artists, solidying its position as the leading developer of branded precrafted homes.

It is the brainchild of Antonio, son of Century Properties founder and chairman Jose Antonio, who became the youngest person in the Forbes Philippines 50 Richest last year.

PH Prefab Firm Bags Myanmar Deal

by Miguel R. Camus, Philippine Daily Inquirer

Revolution Precrafted, a homegrown supplier of prefabricated structures, is expanding to Myanmar.

The company, founded by Filipino businessman Robbie Antonio, said it had signed a nonexclusive deal with Myanmar’s KT Group to build and supply prefabricated homes in Yangon. This includes the $1.2- billion project Okkyin City, which is being positioned as Myanmar’s landmark sports and internet hub.

“We are excited to announce our agreement for the manufacture, shipping and installation of prefabricated homes to Myanmar, one of the fastest growing economies in Southeast Asia. We are also pleased to partner with KT Group, one of the most influential and respected diversified company in the region,” Antonio said in a statement.

“Myanmar is an emerging economy with 53 million people. We want to take advantage of this sizable market and make it a cornerstone of our regional expansion, especially now that the country is also opening itself to global trade and investments,” he added.

Revolution Precrafted claims to be the country’s only unicorn startup given its more than $1 billion valuation.

Myanmar is among a string of countries the firm said it was targeting this year. Earlier this week, it sealed an agreement with developer Seven Tides to build luxury homes in Dubai’s The World project.

Antonio noted in the statement that Revolution Precrafted had agreed to build residential projects in the Okkyin mixed-used development project. This would cost at least $350 million to develop.

As noted, the project would generate a total of $1.2 billion in sales. It could go higher if Revolution Precrafted agrees to build high-rise properties, the statement noted.

The Okkyin project will include a jetty pier, sports and recreation facilities, bus terminal, green parks, a school, a student accommodation, a business park, a sports hotel, and a riverfront retail and commercial pop-up network.

“We believe that these mid-market prefabricated homes will appeal to a significant chunk of the Myanmar population,” Antonio said.

The company’s other projects include the $1.1-billion Batulao Artscapes and the $345-million Revolution Flavorscapes residential communities, both in the Philippines. Batulao Artscapes consists of 8,520 homes while Flavorscapes will have at least 7,100 prefabricated homes.

 

Myanmar’s KT Group Inks Deal With Philippine Unicorn Revolution Precrafted To Build Prefabricated Homes in Myanmar

by Si Thu Aung (iMyanmarHouse.com)

Philippine unicorn Revolution Precrafted, one of Southeast Asia’s strongest unicorn companies, has signed a dealership agreement with Myanmar’s KT Group for the manufacture and supply of prefabricated homes for the property market in Myanmar.

“Myanmar people like Philippines approach in new ways about the housings. They choose the houses compatible with its own culture. We were awed to become the business partners with the Revolution Precrafted which produces the gorgeous prefabricated homes in the World. We will start to build the prefabricated homes in the next three or six months,” said Deborah Kyaw Thaung, Executive Director of KT Group at the agreement signing ceremony of Revolution Precrafted and Myanmar’s KT Group for the economic resurgence in Myanmar held on March 14.

The construction of prefabricated homes is less expensive, saves time and is able to choose the custom design, he added.

“We are excited to announce our agreement for the manufacture, shipping and installation of prefabricated homes to Myanmar, one of the fastest growing economies in Southeast Asia. We are also pleased to partner with KT Group, one of the most influential and respected diversified company in the region,” said Robbie Antonio, founder and CEO of Revolution Precrafted.

Revolution Precrafted is the only unicorn startup company in the Philippines, valued at over $ 1 billion. In less than two years after its inception, it has partnered with 72 of the world’s preeminent architects, designers and artist, solidying its position as the leading developer of branded precrafted homes.

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Related Links:  Contact Us, About Robbie Antonio 

KT Group Inks Deal With Philippines Startup To Sell Prefab Homes

By FRONTIER

Myanmar’s KT Group has inked a deal with the Philippines’ most valuable startup to import prefabricated homes and meet growing demand for low-cost housing.

Revolution Precrafted will manufacture and ship homes and pop-up outlets Pop  to Myanmar, the companies said in a statement yesterday after they signed a dealership agreement in Yangon. The prefabricated homes can be completed in just three to six months, including approximately five days of installation, they said.

Revolution Precrafted founder and chief executive officer Mr Robbie Antonio said the deal would give Revolution Precrafted a significant foothold in the real estate market here.

“We believe that these mid-market prefabricated homes will appeal to a significant chunk of the Myanmar population,” Antonio said. “Myanmar is an emerging economy with 53 million people. We want to take advantage of this sizable market and make it a cornerstone of our regional expansion.”

A KT Group spokesperson said homes would start at US$12,000 and retail stores from $20,000. Initially it will sell two types of prefabricated home: the 23-square-metre Revo Crib and 36-square-metre Revo Origin.

“Competitive pricing is something which is very important to us and we continuously strive to lower these costs,” the spokesperson said.

KT Group executive director Daw Deborah Kyaw Thaung said the similarities between the Philippines and Myanmar suggested the company would find strong demand for precrafted homes. 

“The people of Myanmar are looking for a new approach when it comes to their homes. They are looking for personalised spaces that are sophisticated, functional, but affordable,” she said.

In barely two years, Revolution Precrafted has grown to be worth more than $1 billion, offering a range of prefabricated homes, pavilions, hotels, furniture and glamping structures. Its eye-catching designs are created through partnerships with 72 of the world’s leading architects, designers and artists.

Earlier this week Revolution Precrafted announced a $3.2 billion deal to build condominium apartments and hotel villas in Dubai, and is aiming to expand into 20 countries this year.

Established in the 1950s, KT Group’s core business is real estate and property development but its has in recent years diversified into energy, trading, international port terminals, pharmaceuticals, telecommunications and agriculture. 

 

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Related Links: About Robbie Antonio, Contact

Philippines’ Unicorn Startup Nails $3.2 Billion Deal To Build Luxury Villas In Dubai

by Elyssa Christine Lopez, Esquire

The Philippines’ first unicorn, real estate startup Revolution Precrafted, has signed a landmark $3.2-billion agreement with a Dubai-based property developer that will bring its prefabricated designer structures to the famous man-made archipelago The World Islands in Dubai. It is Revolution Precrafted’s biggest deal so far.

A brainchild of the country’s youngest Forbes magazine rich-lister, Robbie Antonio, the startup signed the deal with Seven Tides for the design, supply and construction of condominium units and hotel villas on one of the artificial islands patterned after the global map. Seven Tides was reported to have bought a cluster of the artificial islands that make up “South America.” The project will be erected on a 2.4-million-square-meter structure named after Coronation Island in Alaska.

“We are proud and excited to partner with one of the best property developers not only in Dubai, but in the world. We will manufacture sophisticated, design-driven precrafted condominium apartments and hotel villas, consistent with the kind of luxurious structures the public have come to expect from us and Seven Tides,” Antonio said in a statement.

Based on the agreement, Revolution Precrafted will manufacture and supply two to three-bedroom prefabricated condominium apartments and hotel villas.

Dubai state-owned Nakheel Properties spearheaded the construction of the artificial islands in 2003, which was envisioned to rival its similar property in United Arab Emirates, Palm Jumeirah. However, work on the ambitious project stalled after the onset of the global financial crisis in 2008 as Dubai World, the emirate’s investment arm, had a hard time repaying its $60-billion debt. The project was resumed only fairly recently. 

“The luxurious look and feel of the condominium apartments and hotel villas will further elevate the status and image of the World Islands as the playground for the most affluent, and privileged residents from Dubai and beyond,” Seven Tides CEO Abdulla Bin Sulayem said. 

Revolution Precrafted’s deal with Seven Tides is on track with the company’s global expansion plan as it aims to sign projects in at least 20 countries this year. It is the company’s first massive property project abroad as it has previously signed agreements for residential communities based in the Philippines. 

In 2017, it signed a deal with Century Properties, the company chaired by Antonio’s father, Jose E.B. Antonio, to supply more than 15,000 precrafted homes in Batulao Artscapes and Flavorscapes, both of which are located in the province of Batangas in southern Luzon in the Philippines.

The startup made a name for tapping world-renowned architects to design precrafted home units, hotels and even furniture, which may be delivered across the globe. While founded only in 2015, the startup achieved unicorn status (or a startup with a total valuation of $1 billion) by October 2017 after it raised an undisclosed amount from a series B funding round led by a Singaporean venture capital firm K2 Global.

This story originally appeared on Entrepreneur.com.ph.

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Related Links: About Robbie Antonio, Contact

Revolution Precrafted Bags Deal In Myanmar

by VG Cabuag, Business Mirror

REVOLUTION Precrafted Properties Inc., a company led by one of the sons of the owners of Century Properties Group Inc. (CPG), said it has signed a nonexclusive agreement with Myanmar’s KT Group for the manufacture and supply of prefabricated homes to be located in key developments in Yangon.

Jose Roberto R. Antonio, founder and CEO of the company, said the company’s entry into Myanmar is a key milestone of its expansion in the region. Antonio is also a director at CPG.

“Myanmar is an emerging economy with 53 million people,” he said. “We want to take advantage of this sizable market and make it a cornerstone of our regional expansion, especially now that the country is also opening itself to global trade and investments.” Antonio added his company has agreed to build residential projects in the Okkyin mixed-used development project, which would cost at least $350 million to develop.

Sales revenues from the project is estimated at $1.2 billion, but the figure may increase if the company agrees to build high-rise properties as well, he said.