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Share to Twitter Share to Linkedin Singapore-based mental health startup ThoughtFull announced Thursday it raised $4 million in a pre-Series A funding round led by Sheares Healthcare Group, owned by the city-state’s sovereign-wealth fund Temasek. Participating in this round were returning investors the Hive Southeast Asia, Vulpes Investment Management, and founding members of Southeast Asian tech giants, including superapp Grab and e-commerce site Zalora. The pre-Series A brings the four-year-old startup’s total funding to $5.1 million. “ThoughtFull's approach to scaling seamless, end-to-end mental healthcare aligns with Sheares' mission to invest in companies that are shaping the future of healthcare through innovative and patient-focused care,” said Khoo Ee Ping, chief corporate development officer of Sheares Healthcare, in a statement. “ThoughtFull is taking meaningful steps to close the gaps in today's mental health ecosystem and we are excited to … [Read more...] about Temasek’s Sheares Healthcare Makes First Mental Health Investment With Singaporean Startup’s $4 Million Funding Round

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Key Takeaways ADB’s fourth Southeast Asia Development Symposium (SEADS) will bring together decision-makers, innovators, and climate leaders from government, industry, academia, and the development sector to discuss practical ways to achieve carbon neutrality by 2050. SEADS 2023’s plenary panel discussion, “Financing Net Zero,” will explore measures to bridge the gap in climate financing, and enable countries in ASEAN to attain net-zero and the Sustainable Development Goals. SEADS 2023 will launch a new ADB report, ASEAN and Global Value Chains: Locking in Resilience and Sustainabliity, which provides actionable insights for strengthening ASEAN’s value chain resilience against the impacts of climate change. ADB SEADS 2023 will be a low-carbon event, with less than 10% of participants travelling to the sustainable venue, and with carbon offsets for every attendee. In response, countries in Southeast Asia have committed to decarbonization, with eight out of 10 member … [Read more...] about ADB SEADS 2023: Imagining a Net-Zero ASEAN

The Evergrande Center of China Evergrande Group is seen in Shanghai, China Sept 24, 2021. REUTERS/Aly Song HONG KONG  -China Evergrande Group’s debt restructuring proposal, a test of investor sentiment toward the battered property sector, failed to impress because of its long repayment period and lack of enough sweeteners, creditors and analysts said. Evergrande is the world’s most indebted developer with about $300 billion in liabilities. Its debt restructuring, the country’s biggest such exercise, is aimed at saving it from a disorderly collapse. The developer has $22.7 billion of offshore debt, all of which is deemed to be in default. The plan provided two main options to its dollar bondholders to recoup their investments. Creditors can either swap all of their holdings into new notes with maturities of 10 to 12 years, or convert them into different combinations of new notes with tenors of five to nine years and equity-linked instruments. Bondholders of notes issued by … [Read more...] about Evergrande debt revamp plan fails to cheer investors, property stocks fall

TRANSPARENCY POLICY President Duterte signs an executive order laying down his administration’s policy of full public disclosure and transparency in public service, but it does not cover the legislature, judiciary and even local governments. —MALACAÑANG PHOTO President Rodrigo Duterte’s issuance of an executive order on freedom of information (FOI) was a much-lauded move and a step in the right direction, but it has had “unintended consequences” that have not always led to greater transparency. Executive Order No. 2, signed on July 23, 2016, and implemented for about seven months now, has laid down a policy of full public disclosure and transparency in public service to promote accountability, and sets the guidelines for requesting and releasing information from offices under the executive branch. Subsequent issuances laid down exceptions to transparency and the administrative penalties for government officers who would not abide by these. Congress, LGUs not covered The … [Read more...] about Duterte’s FOI order leads to ‘unintended consequences’

Share to Twitter Share to Linkedin China Evergrande Group has unveiled its plan to restructure about $19 billion of offshore debt, buying more time for its billionaire founder Hui Ka Yan to resume operations and generate much-needed cash. But analysts say the plan lacks details and offers less-than-favorable terms for creditors. Holders of offshore debt in the Hong Kong-listed company are to receive a basket of options, according to a late Wednesday filing to the city’s stock exchange. The bondholders can either swap their debt for new notes with maturities of 10-12 years, or they can convert them into new notes with repayment terms of five to nine years combined with equity-linked instruments. The instruments will be tied to the shares of Evergrande itself, its property management business or its Hong Kong-listed electric car unit. “The proposed restructuring will alleviate the company’s pressure of offshore indebtedness and facilitate the company’s … [Read more...] about Evergrande’s Restructuring Plan For Offshore Debt Still Carries Considerable Risks For Creditors

Share to Twitter Share to Linkedin Dan Fisher is the president and CEO of ECMC Group , a nonprofit focused on helping students succeed in postsecondary education. Conversations around college access and affordability in the U.S. typically focus on tuition costs and student loans. But for many high school students—particularly those from traditionally underserved populations—the barriers to postsecondary education tower above the tuition bill they get in the mail. Basic needs like food, transportation, textbooks, housing security and physical and mental health present additional hurdles to accessing postsecondary education that reinforce existing societal inequities. And another obstacle is less tangible but no less important: Very few students feel they are properly prepared to decide their future plans. That’s what my organization found in our recent survey of 14- to 18-year-old high school students who come from first-generation, … [Read more...] about Helping Underserved Students Find The Right Postsecondary Pathway

Share to Twitter Share to Linkedin One of the leading healthcare institutions in Latin America, Albert Einstein Hospital is moving toward the next stage in its multimillion-dollar technology and innovation development strategy. The aim is to broaden access to advanced medicine in Brazil through initiatives with actors such as startups as well as tech and healthcare organizations worldwide. Founded in São Paulo by the city's Jewish community following World War II, The Albert Einstein Israelite Hospital started its activities in 1955. Considered Latin America's most modern private hospital, it also has a social assistance program encompassing care in low-income communities and public-private partnerships for public hospitals. With nearly 25,000 staff including over 10,000 registered doctors, the hospital specializes in high-complexity medicine, focusing on cardiology, oncology, orthopedics, neurology, and surgery, and frequently ranks among the best medical … [Read more...] about Brazil’s Albert Einstein Hospital Evolves Tech Strategy To Deliver Low-Cost Healthcare At Scale

Share to Twitter Share to Linkedin Andrei Kasyanau , cofounder and CEO at Glorium Technologies. Startup advisor and an expert in health and real estate tech. Making it in health tech requires a great product that solves a real problem, complies with regulations and can scale successfully. You also need to market and sell your offering. And first and foremost, you must sell it to the investors—a big part of your job as a founder would be to chase them and convince them to listen to you. As the most significant share of our clients is in health tech, our company has helped dozens of successful medical products and companies develop, launch and grow. In this blog post, I'll recommend elements to back up your health tech startup's evaluation so investors will believe in your product. How Is Startup Evaluation Different In 2023? Due to startup market setbacks and the recession probability, there are several new rules for the tech startup … [Read more...] about How To Evaluate Your Healthtech Startup In 2023

MANILA, Philippines–Construction and engineering group Megawide Construction Corp. has obtained the approval of the Securities and Exchange Commission (SEC) to raise as much as P7 billion from the sale of preferred shares, boosting funds for its big-ticket infrastructure projects. Based on a document from the SEC, Megawide was allowed to register and offer to the public 40 million in nonvoting perpetual preferred shares with an option to upsize with additional 30 million shares. The preferred shares will be offered at a maximum price of P100 a share, allowing Megawide to raise at least P4 billion from this foray in the capital market. In case of strong demand, it can sell P3 billion in additional preferred shares. Megawide has mandated BDO Capital, BPI Capital, First Metro Investment Corp. and Standard Chartered Bank to arrange the offering and each of them has firmly committed to underwrite P1 billion. Proceeds from the offering will be used to fund various infrastructure … [Read more...] about Megawide secures SEC nod for P7B issuance