Is an acquisition on the cards for Ritase?

More: ByteDance looks to take its music-streaming service global and Blockchain.com gets a tentative green light for operations in Singapore. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- Hello {NAME} Anytime something related to “50%” or “halving” is brought up, I always get reminded of the scene in Avengers: Infinity War where Thanos snaps away half the universe’s population. It’s an extremely sobering moment, and we’re barely able to even comprehend the scale of such destruction. Losing half of anything is painful, and if you’re a company that’s going through layoffs, it’s sure to hit hard. With that being said, Indonesian trucking firm Ritase is now looking for a buyer after dismissing over 50% of its staff earlier this year. -- Jonathan --------------------------------------------------------------- THE BIG STORY [Indonesian trucking firm in talks with buyers after laying off over 50% of staff]( Ritase had secured loan financing from its shareholders earlier in the year, sources told Tech in Asia. --------------------------------------------------------------- TRENDING NEWS [PropertyGuru acquires SG home services firm]( Sendhelper connects homeowners with verified service providers, who offer repair, air conditioner maintenance, cleaning, and other services. [Weekly funding: FinAccel tops the chart with $140m in wallet]( Keep track of all the startup investment activities in Asia through our weekly funding list. [Indonesian quick commerce firm to shut shop, plans to pivot]( Bananas said it couldn’t find unit economics that worked for the firm despite “constantly experimenting with different parts of the business for months.” [AC Ventures co-leads $5m round of Indonesian waste management firm]( Waste4Change currently manages more than 8,000 tons of waste per year from 3,500 households and 100 corporate clients. [Chinese ecommerce enabler sets up regional headquarters in SG]( The amount of evidence kept on the blockchain platform has risen by 18% since May 25, Forkast reported. [Car-sharing firm Zoomcar to go public via SPAC]( The Indian firm’s blank-check merger with US-based Innovative International Acquisition Corp. is expected to be completed in the first half of 2023. --------------------------------------------------------------- IN PARTNERSHIP WITH What’s next in Hong Kong innovation Hong Kong has long been known as a leading business and investment hub in Asia and the world. The city didn’t get this reputation by sitting on its laurels and enjoying its natural advantages. It remains a key destination because of its resilience, constantly developing and pursuing innovation through the years. The city’s latest efforts can be seen at InvestHK’s Investment Promotion Week, which will be held from October 17 to 21. The event will be opened by John Lee and Paul Chan, Hong Kong’s chief executive and financial secretary, respectively. It will feature thought leaders who will discuss an array of forward-looking topics such as ESG, digital assets, quantum computing, art tech, smart city, foodtech, and biotech. Find out more about the new opportunities in Hong Kong via [the event’s website](. --------------------------------------------------------------- WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Senior Software Engineer]( at (Remote) - [SENIOR Front End Game Developer]( at - [IT QA Automation]( at - [Mid-Senior Backend Engineer (Java)]( at (Remote) - [Backend Developer Java]( at - [Translator-proofreader (Indonesian and English)]( at (Remote) [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](. --------------------------------------------------------------- Copyright © 2022 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894