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In some cases, OJK has appeared toothless in spotting and preventing fraud at the companies it’s supposed to oversee. Late last year, a scandal at Indonesia’s largest state insurer, Jiwasraya, unfolded right under the watchdog’s nose. Still, some investors continue to back Akulaku. Earlier this year, it signed credit line deals with Singapore-headquartered OCBC Bank … Read more
According to them double-digit default rates are the norm at the moment. Ovo, a mobile wallet co-owned by Grab and Tokopedia that also offers a variety of loans to its users, states an 18.35% default rate on consumer loans in a document seen by us. In fact, Akulaku used to have an unsophisticated risk assessment … Read more
However, to its credit, UFC, which has been around since 1993, painstakingly promoted the concept of MMA as a veritable sport and not just a bloody spectacle. In contrast, ONE launched at a time when the MMA promotion model had largely been figured out. To that end, it had the opportunity to take the best … Read more
A person familiar with the matter revealed that ONE initially approached Singtel asking for a US$50 million year-long cash sponsorship of its esports events, which Singtel declined. “They don’t even have a game. So Singtel said, ‘no thank you,’” the person tells us. ONE too many fancies For ONE’s maiden esports event in Singapore—the Dota … Read more
As per former staff who spoke to us, ONE has struggled over the years to land MMA sponsorships and fill event venues with paying patrons. The company allegedly resorted to various tactics to try and mask the low turnout of its events—including giving away tickets for free in order to bill events as “sold out”. … Read more
All this streamlining, though, has an inevitable downside. M17 has been known for its “hire fast, fire faster” culture, according to industry insiders and former employees. “They’re ruthless. Even if you’ve been there a long time, working your ass off, if they want to fire you they will fire you,” said the ex-employee. Nevertheless, the … Read more
Like social media, online dating is a network effects business, where bigger platforms tend to perform significantly better,” he told us. Perhaps, in some ways, Paktor was baggage. It meant “mindshare” between streaming and dating for Phua, and, therefore, was a “distraction”, said Infinity Ventures’ Huang. “It’s a great business. It’s just that for investors … Read more