SoftBank concentration risk comes to the fore in Asia tech ecosystem
Add BT as a preferred source
Singapore
A FEW years ago, the entry of SoftBank's Vision Fund into Asia heralded hope of a tech boom. But today, all eyes will be on how deep the Vision Fund's losses run in SoftBank's full-year results announcement, and whether there could be any rollover impact on its iconic portfolio companies in Asia, ranging from social media darling ByteDance to embattled hotel chain Oyo.
Last month, SoftBank revealed that it expects a massive 1.8 trillion yen (S$24.2 billion) loss in its US$100 billion Vision Fund for the year ended March, pushing the group into the red for the first time in 15 years.
TRENDING NOW
UOB CEO’s youngest child Grant Wee turns burnout into a wellness business
Wanted: 100 AI specialists, 100 wealth relationship managers at HSBC Singapore
China chipmaker CXMT jumps 472% in debut after US$9.8 billion IPO
Temasek should publicly state its position on the long-rumoured CapitaLand-Mapletree merger
