Behind Oriente's rise and fall

More: We look at what’s been going on at fintech firm Oriente and dive into a Philippine coffee startup that’s raised some cash. [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](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at: - [Abrupt dismissals, unpaid salaries, and other issues at Oriente]( - A coffee startup from the Philippines that’s just raised funds - Other newsy highlights such as Thunes’ payments license in France and Klaytn burning its tokens --------------------------------------------------------------- Hello {NAME} I think one of the most important things a company has to get right is paying their employees properly and on time. It’s such a fundamental part of running a business - if you can’t get this right, what does it say about your priorities and how you’re managing other parts of the company? This belief certainly feels true when I look at today’s premium story, which takes a look at what’s going on at Hong Kong-based fintech firm Oriente. It has shut down its Vietnam operations, wound down its business unit in Indonesia, and laid off dozens of staff last year - many of whom are still owed salaries and severance pay. These owed salaries are just one of the many issues that Oriente is facing. My colleague Melissa goes deeper. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Oriente staff decry abrupt dismissal, unpaid salaries as Vietnam and Indonesia units shutter]( The fintech firm, whose CEO left last year, has struggled to bounce back after its offline lending business was hit hard by the pandemic. --------------------------------------------------------------- TRENDING NEWS [Ronin Network rebuilds user trust as TVL hits $100m after 10 months]( The Axie Infinity sidechain recently upgraded its tech, which led to its token’s price rising to US$1.43 from US$0.27 at the start of the year. [Alibaba sell-off may up pressure on SoftBank’s Vision Funds: CreditSights]( SoftBank may cut its stake in Alibaba to just 3.8%, the Financial Times recently reported. [What product managers need to know when entering the fintech space]( They’ll have to deal with both merchants and consumers as well as with security processes surrounding regulations. [ByteDance’s hefty profits leave Tencent and Alibaba in the dust]( TikTok’s parent company hit a record profit in 2022 with a cool US$25 billion, up about 79% from 2021, despite the headwinds that TikTok faces. ---------------------------------------------------------------  LISTICLE OF THE DAY [50 rising startups in Indonesia]( Which startups are on the path to becoming the next big thing? ---------------------------------------------------------------  IN PARTNERSHIP WITH Unlock the potential of generative AI Even if you’ve been living under a rock, you’ve probably heard about generative AI. From ChatGPT to Dall-E, generative AI is doing everything from writing college-level essays to creating impressive works of art. But generative AI can do so much more. 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Register today! ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Backend Developer Node.js]( at FOREXimf Bandung, Java, Indonesia - [Instrument Engineer Senior]( at MyRobin Karawang, Indonesia - [Business Development]( at Little Joy Indonesia Jakarta, Indonesia - [Business & Partnership Development Manager]( at Moonlay Technology Jakarta, Indonesia - [Digital Marketing Specialist]( at Favent Jakarta, Indonesia - [Credit Analyst Manager]( at movus technologies Jakarta, Indonesia [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. Tech in Asia thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Too many emails? 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