Asia news roundup: Go-Jek to announce SEA play, Malaysia eyes law on fake news, and more

Image Credit: Ryde

Here’s a wrap of the day’s news.

Transportation

Go-Jek set to announce Southeast Asia expansion (Indonesia). The Indonesian ride-hailing and online payment juggernaut may reveal its plans to launch in another Southeast Asian country “in the next few weeks,” according to a Reuters report. Backed by Google and China’s Tencent, the company is also looking to expand in three other countries in the region by mid-2018, the report said. The move will mark Go-Jek’s first foray outside its home market and tailgates Uber’s sale of its SEA business to rival Grab. (Reuters)

Carpooling app launches private ride-hailing service (Singapore). Ryde has unveiled RydeX, a new service that lets users hire private cars. The homegrown firm, which until recently only offered carpooling services to users, has begun accepting drivers’ signups. Ryde’s CEO said its aim is to give commuters cheaper travel alternatives. This announcement follows news about two major Southeast Asian ride-hailing firms: Grab and Uber’s mega deal as well as Go-Jek’s planned expansion in the region. (Channel NewsAsia)

Nissan in talks with Indian government to open R&D center (India). The Japanese automaker’s vice-president and chief information officer Tony Thomas met with Indian state officials to discuss possibilities of setting up a digital hub in Kerala. If green-lighted, the hub will house engineers and scientists focused on the R&D of automated vehicles for the Renault-Nissan-Mitsubishi alliance. The move is expected to create at least 300 jobs in the first phase. (Times of India)

Policy and regulation

Fake-news bill introduced in parliament (Malaysia). This week, Malaysia tabled into parliament a bill that calls for heavy punishments for anyone found producing or circulating fake news in the country. Its official act is to safeguard the public against the spread of fake news while not infringing on the people’s constitutional rights to freedom of speech and expression. Critics like former prime minister Mahathir Mohamad called the bill vague and said that it serves a political agenda. Bills in Malaysia usually pass after two to three readings. The first was held on Monday. (The Star)

Blockchain and cryptocurrencies

Central bank launches blockchain platform under its research institute (China). The People’s Bank of China-backed Zhongchao Blockchain Research Institute has applied for 22 blockchain patents. It has also introduced a blockchain registry open platform that dossiers information like user identities and provides verifiable information to businesses. This is the first Chinese central bank-supported blockchain platform in the country, though the nation has banned cryptocurrency trading and ICOs. (China Money Network)

Kakao to introduce its own blockchain platform (Korea). South Korea’s chat app said it will create its own open blockchain platform within the year. Rumors of an impending ICO have been reported, though the company has denied them. The firm said this platform will be combined with multiple services in the future, but at present it’s at the foundation stage. Earlier this month, Kakao formed a blockchain subsidiary called Ground X in Japan. (ZDNet)

Fintech

Fintech startup that targets SMEs raises US$1.7 million (Singapore). CardUp secured US$1.7 million in a seed round led by Sequoia India and early-stage VC fund Seedplus. The company lets users and businesses make large or recurring payments, traditionally done via bank transfers or checks, with their credit cards. These payments include rent, taxes, insurance, car loans, and payroll. (Tech in Asia)

Payment gateway considers sale at up to US$2 billion in valuation (India). BillDesk, backed by VC firms like Clearstone Venture and Singapore’s Temasek Holdings, has reportedly held talks to discuss a possible sale amid increased interest in payment market. The Indian startup was said to have met with three payment giants: PayU, American Express, and PayPal, all of which declined to meet its asking price of US$1.5 to 2 billion. BillDesk offers payment solutions for customers in sectors like ecommerce and retail. (DealStreetAsia)