GoCar’s drivers have joined with GrabCar’s in supporting the epidemic prevention
GrabCar is no longer a stranger to people. GoCar is a completely new name. GoCar is the latest service of Gojek that has just been born. Both have volunteered to serve the frontline medical forces fighting the COVID-19 epidemic for free. On August 19, 2021, the Department of Transport of Ho Chi Minh City approved technology vehicles to operate services for medical staff to prevent epidemics and to transport patients home from hospital. All rides are completely free. Grab buys insurance for drivers. GoCar installs an air purifier to prevent viruses in the car.
Vinamilk announced its joint venture partner in Philippines
Vietnam Dairy Products Joint Stock Company (Vinamilk) announced its joint venture partner in Philippines, Del Monte, Inc. (DMPI). It is a subsidiary of Del Monte Pacific Limited. Products of the joint venture are expected to launch to Filipino consumers in September 2021. The joint venture will import dairy products from Vinamilk. After that, the joint venture will market and distribute products in the Philippines. The joint venture will use the Del Monte – Vinamilk co-brand for products. The joint venture will promote the brand strength of both. Total investment in the first phase is 6 million USD. Vinamilk and its partners each contribute 50%.
Hyatt Hotels Corp will have Apple Leisure Group acquired
Hyatt Hotels Corp will buy Apple Leisure Group from KKR & Co and KSL Capital Partners. The transaction will be settled with $2.7 billion in cash. In 2017, KKR and KSL purchased Apple Leisure from Bain Capital for an undisclosed price. Acquiring Apple Leisure increases the percentage of revenue and profits Hyatt derives from fees. On August 15, 2021, Hyatt said the deal could be completed in the fourth quarter of 2021.
Starting up a clothes renting business from “I have nothing to wear”
The idea of renting clothes arose when Mrs. Raena Lim and Mr. Chris Halim discussed. Chris asked “Why do you have so many clothes, but you always complain that you have nothing to wear?”. The idea inspired them to launch a clothing rental app Style Theory with $40,000. They have raised a total investment of about $30 million. In 5 years of operation, Style Theory has 2.3 million rentals. It is now a famous fashion rental platform in Singapore.
Becoming the youngest billionaire due to a Southeast Asian rare disease
Johnny Boufarhat had to stay indoors for years because of allergies. He longed to go out. That prompted him to found the online events platform Hopin in 2019. The platform raised $450 million from investors, reaching a valuation of $7.8 billion. He sold part of the stock. And now he holds about 40% of the shares, worth about $3.2 billion. This makes the 27-year-old one of the youngest self-made billionaires in the world.
Sources of information include Bloomberg, CNBC, DealstreetAsia, and Vietnam+.