Welcome to Tech in Asia’s Sunday newsletter, your weekend brief on the biggest moves in Asia’s tech and startup world. Not on the mailing list? Register here. Got a story tip? Send it to editors@techinasia.com.
In focus
- Melissa Goh on how bootstrapped KeaBabies went on an impressive profit streak
- How Cursor is gaining ground in Southeast Asia, one developer at a time
- Microsoft embraces the enemy (of OpenAI)
Hello reader,
In Singapore, change often comes from the top.
To revitalize the Singapore Exchange (SGX), the central bank recently allocated US$1.1 billion – part of a US$5 billion program – to three fund managers. This is aimed at driving liquidity into locally listed small and mid-cap companies.
The hope is that the added capital will kickstart activity and encourage tech listings on SGX.
The downside? Whether such efforts will eventually trickle down and hit the mark – and how long this will actually take – isn’t so clear.
While an IPO is a worthwhile goal to work towards, it certainly isn’t the only barometer of success.
Case in point: baby and maternity brand KeaBabies. In 2024, it continued its profit streak for seven years running. This is impressive, especially when you factor in how the Singapore-based company self-funded its way towards this achievement. You might wonder, is it looking to get listed? No, it isn’t planning to become a public firm.
Resisting VC money has allowed KeaBabies to grow on its own terms while avoiding unnecessary debt and investor pressure, founder Ivan Ong tells my colleague Miguel Cordon.
Image credit: Timmy Loen
Over in the AI scene, some of the most tangible shifts are coming from ground up. Take California-based Cursor, for example.
A bubbling grassroots community led by Cursor ambassadors sharing tips and tricks for vibe-coding is winning over developers in Southeast Asia one meet-up at a time, journalist Glenn Kaonang writes.
With demand for such tools going strong and no shortage of curious techies, we’re bound to see more of these events.
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