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Authorities Destroy 9.9 Hectares of Marijuana Fields in Laos

Marijuana farm in Bolikhamxay Province
Marijuana farm in Bolikhamxay Province.


Authorities in Bolikhamxay Province have destroyed another massive marijuana plantation that spread across nine hectares of land.

YouTrip, a neobank in Southeast Asia, raises US$30 million to accelerate growth in B2C and B2B space

  • YouTrip’s transaction volume has rebounded to pre-COVID levels, driven by strong traction in cross-border e-commerce transactions and return of travel spending. Exponential growth is expected in upcoming months following the opening of more Vaccinated Travel Lanes in Singapore and progressive return of SEA travel.
  • The latest funding will be used to scale the neobank’s product offerings, including venturing into the B2B payments space, and accelerate its expansion into wider Southeast Asia. 
  • YouTrip’s dual-growth engine in B2B and B2C payments enables it to be pandemic-resilient, and well-primed for high growth.

SINGAPORE – Media OutReach – 30 November 2021 – YouTrip, Singapore’s leading neobank offering a multi-currency wallet, announced today that it has raised US$30 million in its latest Series A round. The round, driven by returning investors from major Asian family offices and prominent financial technology investors, will solidify the fintech firm’s position as the leading neobank in Southeast Asia offering B2B and B2C multi-currency payments. With this, the company has now raised over US$60 million funding in total since launch.

 

The new capital will supercharge the company’s technological capabilities to bolster its suite of payment products, in particular entering the adjacent B2B payments space, as well as accelerating its entrance into the wider Southeast Asia.

 

Caecilia Chu, YouTrip’s CEO and Co-founder said, “We have transformed tremendously as a company since our last funding round[1]. From a mobile travel wallet, we have grown to establish a strong foothold in new territories such as overseas online spending to meet the extraordinary shifts in consumer behaviours. We believe there is untapped potential in cross-border payments, and our market-leading position in this space puts us in a good place to serve more of our users’ payment needs – from travellers, to online shoppers, and now, businesses.”

 

“As a company, this latest round also gives us the resources to strengthen our multiple growth engines to stay resilient and well-primed for expansion into new vistas,” she added.

 

Card transaction exceeds US$800 million, exponential growth expected with travel return

 

YouTrip has maintained its position as the ‘go-to’ card for consumers’ multi-currency spending. To date, it has processed over US$800 million card spend globally, with almost 20 million transactions and over 1.5 million app downloads.

 

YouTrip’s transaction volume has also rebounded to pre-COVID levels, driven by strong traction in cross-border e-commerce transactions and progressive return of travel spending. With the opening of more Vaccinated Travel Lanes (VTL) in Singapore, transaction volume is forecast to accelerate rapidly especially given upcoming holiday seasons and revenge travel.

 

B2B payments a promising growth engine

 

To advance its growth, YouTrip has set its sights on the B2B payments ecosystem. The industry, which is expected to be worth US$150 trillion by 2022[2], is ripe with potential, with SMEs showing a strong willingness to adopt digital banking services, specifically for cross-border payments[3].

 

Catering to businesses with a global footprint, YouTrip’s new corporate credit card, YouBiz, promises the best value and best-in-class multi-currency payment experience. The product offers higher spending limits while transacting at the best exchange rates in 150+ currencies, and credit terms offered to selected business account users. Companies will also be able to issue corporate cards to employees, with all expenses streamlined into one platform.

 

Arthur Mak, YouTrip’s Co-founder said, “We’re very excited about the B2B payments opportunity. It is a segment with a deep market, as companies increasingly operate in a distributed and borderless manner and we expect their cross-border payment needs to go up. By incorporating our company’s core strengths of offering the best exchange rates and an extremely easy to use interface into YouBiz, we help businesses save time and cost, so that they can focus their energy and efforts in finding growth.”

 

Registration for interest in the product’s beta launch has received more than 1,000 sign-ups to date.

 

YouBiz will be rolled out in Singapore in the first quarter of 2022, and with plans to bring it to five other Southeast Asia countries in the next twelve months.

 

Riding the tailwinds of ecommerce growth and travel resurgence

 

Lastly, YouTrip is optimistic about the headroom for growth in consumer’s multi-currency payments, driven by the rapid rebound of leisure travel, and the sustained popularity of e-commerce. YouTrip Perks – the company’s rewards platform offering cashbacks and deals from top merchants such as Taobao, Amazon and Singapore Airlines – has recorded a 150% increase in transactions since its launch in September.

 

For a more seamless payment experience, YouTrip will be refreshing its app with new features such as a virtual card, an interactive exchange rates dashboard, and the ability to hold more popular currencies in their wallet. This will be launched in early 2022.

 

On the travel front, with more VTLs opening and as Singaporeans steadily take flight, YouTrip has also launched its VTL Holiday Away campaign today to bring more value to their overseas trips. From today till 31 December, YouTrip users will get a chance to receive cashback of up to $100 when they pay using YouTrip for overseas spending, reinforcing its proposition as the best overseas payment method in the upcoming travel season. A grand prize of an all-expenses-paid VTL trip worth up to $5,000 will also be awarded to one selected user. For more information on the VTL Holiday Away campaign, please visit here.

About YouTrip

YouTrip is a Southeast Asian neobank offering the region’s first and leading multi-currency wallet. As a regional financial technology startup, it is dedicated to creating the best mobile financial services by simplifying foreign currency payments and offering the best exchange rates. YouTrip was launched in Singapore in 2018 and subsequently in Thailand in partnership with Kasikornbank in 2019. To date, it has received over 1.5 million downloads and processed close to 20 million transactions.

The company is a Major Payment Institution licensed by the Monetary Authority of Singapore, and was awarded one of Top FinTech Leaders in both 2020 and 2021 by the Singapore FinTech Association.

For more information, please visit www.you.co

#YouTrip

Woman Steals Car From Vientiane Dealership After Test Drive

Woman steals secondhand car from dealership
Police photograph the woman with the stolen vehicle (Photo: Security News).

A Vientiane woman has been arrested for stealing a second-hand car after taking it for a test drive and fleeing the scene.

ACASIA Accelerates Expansion of Global Businesses into ASEAN with Comprehensive Suite of Connectivity Services and Digital Infrastructure

  • ACASIA, a unique ASEAN collaboration among 7 leading telecommunications (telco) providers, will help to connect global business to ASEAN, which is one of the fastest-growing regions in the world
  • A fully equipped and comprehensive suite of connectivity services and digital infrastructure in the ASEAN region enables global businesses to bridge services offered in the region
  • ACASIA acts as a single point of contact for all connectivity services within ASEAN, giving power to businesses across the globe who are looking to tap into the Southeast Asian region
  • Shared collaborations within ACASIA in the ASEAN region ensure data sovereignty, enabling data to reside in countries where data is collected unless approval is provided


KUALA LUMPUR, MALAYSIA – Media OutReach – 30 November 2021 – ACASIA Communications Sdn Bhd (“ACASIA”), a unique collaboration among seven (7) leading telecommunications (“telco”) providers, will accelerate the expansion of global businesses into the ASEAN region, one of the fastest-growing regions in the world, with its comprehensive suite of connectivity services and digital infrastructure.

ACASIA’s Chief Executive Officer, Mr M Satya Riayatsyah Syafruddin

 

Formed in 1995, the shareholders of ACASIA are among the seven leading telcos in the region, namely Telekom Malaysia Berhad (“TM”) in Malaysia, Singtel in Singapore, National  Telecom in Thailand, Indosat Ooredoo in Indonesia, PLDT in the Philippines, Nex.Us in Brunei and VNPT in Vietnam. These seven players have a proven track record in the telco services provided in the region.

 

With an established digital infrastructure in the region, ACASIA helps global businesses to expand into ASEAN through a seamless process made possible by the collaborations among its shareholders. ACASIA will serve as a service aggregator for these global business operations that require presence in the region.

 

ACASIA’s Chief Executive Officer, Mr M Satya Riayatsyah Syafruddin, said, “Given the potential in ASEAN as one of the fastest-growing regions in the world, ACASIA serves as a one-stop solution for global businesses to simplify its digital process and transformation. For example, a global business that sets up its operation in Malaysia and looking to expand into the Philippines, would need to set up its digital infrastructure and connectivity in both countries. However, with ACASIA, we help to bridge these processes and simplify the expansion plans into the region.”

 

During the ASEAN Business and Investment Roundtable 2021 on Fintech and Financial Literacy, leaders in the region have affirmed ASEAN as one of the fastest-growing regions despite the COVID-19 crisis. While the region was among the worst hit globally during the pandemic and suffered a supply-chain bottleneck that persists currently, recovery is expected for ASEAN, the fifth-largest economy in the world with a combined GDP of USD3.1 trillion in 2020.

 

“The growth potential is huge for ACASIA as we tap on the digital transformation that has escalated during the COVID-19 pandemic. Our existing infrastructure in the region puts us in a strong position to offer valuable services for global businesses that are expanding into the region,” Satya said.

 

ACASIA’s established presence in the region and its fully-equipped infrastructure allows the company to offer a comprehensive suite of connectivity services and digital infrastructure for global businesses. The services offered will help to bridge the gaps in terms of business operations and processes in the different countries in the region.

 

Other than  accelerating the expansion of global businesses into the region, ACASIA also offers ASEAN companies to tap on its digital infrastructure to venture out of their respective local economies.

 

Through this ecosystem and with their own points-of-presence in most ASEAN countries, ACASIA acts as a single point of contact for all connectivity services within ASEAN, giving power to businesses across the globe who are looking to tap into the Southeast Asian region.

 

According to Satya, the shared collaborations in the ASEAN region also offers data sovereignty for businesses and governments. ACASIA will ensure data sovereignty by enabling data to reside in countries where data is collected, unless approval is granted.

 

ACASIA solutions also offer access to private cloud computing infrastructure, which would be vital for organisations that rely on public cloud services for data storage and hosting. Given the increased awareness of the importance of data privacy, this will help the shift into secured private cloud storage and hosting.

 

“Infrastructure to support data sovereignty is something that is lacking, and with ACASIA, we fill the gap and offer the missing link for the whole ecosystem of digitalisation, especially for businesses and government in the ASEAN region. Our strength as a unit will enable our clients to leverage on these synergies to grow globally in a secure environment amidst a rush into digitalisation,” Satya added.

 

The comprehensive connectivity solutions offered by ACASIA puts the Group in a good position to tap on the huge potential within the global wireless connectivity technology market, which was expected to grow at a 13.0% CAGR to reach USD150.4 billion by 2021.

 

About ACASIA Communications Sdn Bhd

ACASIA Communications is an ICT Solutions provider offering a comprehensive suite of connectivity services and digital infrastructure to take your business across ASEAN and global. ​

It is a global gateway that opens up for digital connectivity within the ASEAN region. With more than 25 years of industry experience, ACASIA is driven by its value creation for its stakeholders in a highly competitive environment via its competitive edge technology to offer the best solutions for businesses.

Through its ecosystem and with their own points-of-presence in most ASEAN countries, ACASIA acts as a single point of contact for all connectivity services within ASEAN, giving power to businesses across the globe who are looking to tap into the Southeast Asian region.

​The company strives on delivering the best customer experience via continuous customer service quality improvements and innovations

Connecting ASEAN & ​Global​. We connect the dots between the ASEAN region and Global by leveraging on the strengths of its shareholders. ​

#ACASIA

AnyDesk expands in Asia Pacific

The Germany-based technology company AnyDesk is expanding into Asia Pacific and is pursuing its localization strategy by opening a new regional office in Hong Kong –focusing on serving the huge demand in Asia Pacific for a fast and stable remote desktop software.

HONG KONG SAR – Media OutReach – 30 November 2021 – Tech company AnyDesk, one of the world’s leading providers of remote desktop software, is expanding into Hong Kong, China, as their new regional office. To better serve Greater China and Asia Pacific simultaneously, the newly appointed Regional Vice President Alan Wong will be in charge of driving forward AnyDesk’s Asia Pacific business. Alan has over twenty years of experience in heading up regional sales teams and professional services teams for business transformation, Software-as-a-Service and Cloud projects in the Asia-Pacific region.

Regional Vice President, APAC – Alan Wong

 

AnyDesk pursuing a consistent localization strategy

AnyDesk already has a large, organically developed user base in Asia Pacific, with over 170 million devices installed across Asia Pacific. The company is now planning to further expand this strong user base and offer better and closer service to our regional customer. To that end, AnyDesk is currently localizing its services.

Chief Executive Officer & Founder – Philipp Weiser

 

Regional office in Hong Kong

With its brand-new regional office at the International Commerce Center in Kowloon, AnyDesk is positioning itself as the perfect partner for companies looking to launch or expand their business in Asia Pacific. Philipp Weiser, AnyDesk founder and CEO, comments: “For international companies, Hong Kong is one of the most exciting future markets, with significant prospects for growth. We are excited to expand our new Hong Kong Team. With our regional office we are now very well set up locally.”

 

As AnyDesk expands into Asia Pacific with its regional office in Hong Kong, Alan Wong, Regional Vice President, comments: “With huge organic demands from Asia Pacific over the last 18 months, it is only logically for a company with ambitions like AnyDesk to build a young and dynamic team here to serve our local fans. Our growth plans do not stop here, you will see us very soon in Singapore, Tokyo and Melbourne. “

 

You can find further product information here.

About AnyDesk

AnyDesk Software GmbH is one of the leading providers of remote desktop solutions. With its unique Remote Access Software, the company, founded in 2014, creates the ideal basis for collaboration in the modern world of work. The core of AnyDesk is the specially developed Codec DeskRT, which enables almost latency-free collaboration – even in regions with poor internet connections. The software has already been installed on almost 500 million devices in 190 countries worldwide and is used by over 80,000 customers, including world-renowned companies such as Bosch, McDonalds, and Google. This makes the company one of the 50 fastest growing companies in Germany. For further information please visit our Website .

#AnyDesk

Prime Minister of Laos Visits Cambodia to Attend 13th ASEM Summit

PM Phankham Viphavanh attends ASEM summit in Cambodia.
PM Phankham Viphavanh attends ASEM summit in Cambodia (Photo: KPL)

Prime Minister of Laos, Dr. Phankham Viphavanh, led a high-level Lao delegation to Cambodia to attend the 13th Asia-Europe Summit (ASEM 13), which was held from 25-26 November 2021.

Malaysia Global Business Forum to Support Creative Economy in Post-COVID-19 Recovery

KUALA LUMPUR, MALAYSIA – Media OutReach – 30 November 2021 – Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one of Malaysia’s leading young artists Mulaika Nordin.

   

The full spectrum of the creative industries, from film to visual arts were heavily impacted over the past two years. Prior to the pandemic the creative industries were estimated to be worth some RM29.4 billion contributing 1.9% to Gross Domestic Product (GDP) in 2019 according to a report by the Department of Statistics Malaysia.  

 

The Malaysia Global Business Forum like many businesses has evolved extensively due to the pandemic. Many of our business matching and government engagement programs have shifted to the virtual space. We are pleased to announce that our first step back to in person physical events will take place this December with the hosting of this important art exhibition.  

 

Co-chairman of MGBF, Rizal Kamaruzzaman said, “This is a perfect opportunity to energise the arts while contributing to the economy by empowering a member of the artistic community. It is our hope that the arts scene becomes more vibrant. It is important to develop not just the artists but the stakeholders and policies that empower this sector of the economy.

 

“With considerable growth prospects as the creative industry can seamlessly integrate into the global digital economy, the government in the recent budget recognised the importance of this sector by allocating several hundred million to see the sectors’ rapid recovery. MGBF will play our part in what needs to be a concerted effort to achieve targeted results for creative industry players in the country.”

 

Mulaika rose to prominence in 2019 when at the age of 16 she became the youngest artist to hold a solo exhibition at the National Arts Museum (Balai Seni Visual Negara). Now, her second solo exhibition, “I Know You’re Somewhere So Far”, will feature over 60 works of art. Completed over the last four years, the show explores themes of disconnect and isolation from the lens of an empathic teenage artist as she navigated a constantly changing environment culminating in the period of the global pandemic in 2020 and 2021. 

 

The exhibition will be held at the Ken Gallery at Menara Ken, Taman Tun Dr. Ismail from 9 to 19 December. For more information about attending the exhibition visit www.Mulaika.com.

 

Cloud Comrade achieves AWS Financial Services Competency

Ready to support the Indonesian and Malaysian financial sector as more and more banks and insurance companies are moving into the cloud.

SINGAPORE – Media OutReach – 30 November 2021 – Cloud Comrade, a leading Singapore-based cloud computing consultancy and managed services provider (MSP) with a growing presence in Malaysia and Indonesia, is pleased to announce that it has achieved the Amazon Web Services (AWS) Financial Services Competency. Cloud Comrade will be one of 20 companies in Asia Pacific, and over 100 globally to achieve the competency status.

 

AWS is enabling scalable, flexible, and cost-effective solutions from startups to global enterprises. To support the seamless integration and deployment of these solutions, AWS established the AWS Competency Program to help customers identify AWS Partners with deep industry experience and expertise.

 

AWS Financial Services Competency Partners provide cloud-based offerings that help accelerate innovation for banks, insurance companies, capital market firms, and payment processors of all sizes. These offerings allow businesses to become more agile, strategic, and customer-focused.

 

Cloud services will become even more accessible for customers in ASEAN as AWS continues to expand its infrastructure. Cloud Comrade, as an AWS Financial Services Competency Partner, is well-equipped to help financial services companies harness the cloud to transform digitally, innovate and deliver better customer outcomes.

 

“We are proud to become an AWS Financial Services Competency Partner, which shows our readiness to cater to the unique needs of Asia’s financial services sector as it undergoes a massive disruption. With our proven track record in the industry, helping a large insurance company in Singapore and a bank in Southeast Asia with their digital transformation and successful migration to the cloud, we are now well-positioned to help these companies leverage the cloud to drive business growth and innovation,” said Andy Waroma, Co-Founder & Co-Managing Director of Cloud Comrade.

 

“Indonesia and Malaysia are very important growth markets for us, with their size and the transformation they are undergoing. The countries are also witnessing a fintech revolution and the financial services sector is expected to be one of the key drivers of the economies. As an AWS Financial Services Competency Partner, we can contribute significantly to these countries’ digital leap by helping businesses leverage the cloud,” Waroma added.

 

Jin Sen, Director, Solutions Architect at STACS, a Singapore-based FinTech firm commented on the achievement saying that “Cloud Comrade’s AWS Financial Services Competency is well earned, their dedication and focus on the customer as well as their professional expertise in the financial sector has enabled us to meet our operational needs. We look forward to working even closer together moving forward.”

 

“We are delighted Cloud Comrade has achieved the AWS Financial Services Competency within the AWS Partner Network program. Financial Services customers have a high bar on Security and Compliance and alignment to industry best practices. The AWS Competency Program is designed to identify, validate, and promote AWS Partners with the demonstrated AWS technical expertise and proven customer success in Financial Services. Cloud Comrade’s work with many valued Financial Services customers across ASEAN, such as STACS, has been vital in supporting the customers’ goals. Congratulations to Cloud Comrade for this achievement and we are looking forward to doing so much more together.” said Peter Murray, Head of Financial Services Industry, ASEAN, at AWS.

About Cloud Comrade

Cloud Comrade (https://cloudcomrade.com) is a Singapore-based cloud computing consultancy company with a regional footprint in Indonesia and Malaysia. The company offers a comprehensive range of services from strategy and design to deployment, migration, and management of customers’ IT infrastructure. Cloud Comrade partners with the best solution providers in the field of cloud computing and is a preferred Amazon Web Services (AWS) consulting partner in ASEAN, as well as a managed service provider for AWS, Google, and Alibaba Cloud. In January 2019, ST Telemedia (sttelemedia.com), an active strategic investor specializing in communications & media, data centers, and infrastructure technology businesses, acquired a majority stake in the company. For more information on Cloud Comrade, visit cloudcomrade.com

#CloudComrade