<div class=newsTextDataWrapInner><p>SINGAPORE (Nov 24): Chinese IT billionaire, Pang Shengdong, founder of web directory, 2345.com will invest a seven-figure sum in Singapore venture capital fund, Tembusu ICT Fund I to help forge partnerships between Chinese and Southeast Asian software startups.</p></div>

<div class=newsTextDataWrapInner><p>Tembusu ICT Fund I was established in 2015 focusing on early-stage software companies by private equity firm, Tembusu Partners and Pepri Ventures.</p></div>

<div class=newsTextDataWrapInner><p>Pang, who has a net worth of US$1.2 billion (S$1.7 billion), is best known for 2345.com, which was acquired by Shenzhen-listed 2345 Network Holding Group.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>This is a first for Pang, who will provide the fund and its portfolio companies with expertise and networking opportunities to break into the China market.</p></div>

<div class=newsTextDataWrapInner><p>“Given Singapore’s close relationship with the Greater China region, I see a tremendous opportunity to utilise my experience and network to unlock synergies and partnerships for ICT Fund I’s portfolio companies,” says Pang.</p></div>

<div class=newsTextDataWrapInner><p>“We are equally excited to leverage his tech expertise and market reach into Greater China to further augment our investment platform,” says Brijesh Pande, founder and managing partner, Tembusu ICT Fund I.</p></div>


SINGAPORE (Nov 24): Chinese IT billionaire, Pang Shengdong, founder of web directory, 2345.com will invest a seven-figure sum in Singapore venture capital fund, Tembusu ICT Fund I to help forge partnerships between Chinese and Southeast Asian software startups.

Tembusu ICT Fund I was es...

China IT billionaire partners Singapore venture capital fund Tembusu ICT Fund I

The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.

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Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.

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Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.

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Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

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Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.

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PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.

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A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.

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<p>Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.</p>


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<p>The long-awaited Energy Exchange Malaysia (Enegem) has finally been introduced, along with guidelines on cross-border electricity sales announced by the Ministry of Energy Transition and Water Transformation (Petra) last Monday for exports of green electricity from Malaysia to Singapore and Thailand.</p>


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<p>A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.</p>


<p>A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.</p>


<p>Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.</p>


<p>Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.</p>


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<p>The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.</p>


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<p>Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally, which has flagged as expectations for interest cuts fade.</p>


<p>PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.</p>


<p>Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.</p>


<p>Efforts to reform the Bretton Woods institutions – the International Monetary Fund and the World Bank – are progressing, albeit slowly. In December, the IMF Board of Governors approved a 50% increase in member quotas, which will reduce its reliance on borrowed resources, and the World Bank has re...