The bell tolls for thee, TikTok Shop

More: VNG still has its eyes on listing in the US and Vertex Ventures’ SPAC proposes a merger with 17Live. [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 spotlight: - [How Indonesia’s TikTok Shop ban could play out]( - Singaporean politician Tin Pei Ling moving into the fintech space - Other newsy highlights such as VNG Corporation’s ongoing IPO plans and Malaysia’s MADCash getting a cash injection --------------------------------------------------------------- Hello {NAME} We all come across the law of unintended consequences from time to time and these encounters serve as great reminders of how little control we have over our lives and the world. One of my favourite examples comes from the draft system in American sports. Basically, the pro teams that performed the worst the previous season get to choose higher up the draft order, allowing them to recruit the best collegiate players. This system is designed to promote a more competitive (and therefore lucrative) league, as in theory, the worst pro teams will get better by signing the best college players. It does sometimes work out that way, but there are unfortunate unintended consequences. Some teams intentionally set themselves up to lose so they can secure top upcoming college players. This can put the fans of that team in for a miserable season, which hurts the team’s (and the league’s) revenue as fan interest is down. It’s too early to say what the consequences of Indonesia’s move to ban TikTok Shop will be. However, I think it’s fair to say that it won’t play out exactly as the country’s politicians expect it to. -- Peter  ---------------------------------------------------------------  THE BIG STORY [TikTok Shop ban in Indonesia: Who is it really protecting?]( The country's ecommerce ecosystem is pondering its next moves in the aftermath of this regulatory setback. --------------------------------------------------------------- TRENDING NEWS [VNG CEO assures staff US listing will happen, just not yet]( Co-founder and CEO Le Hong Minh said in an internal memo to staff that most investors are implementing a “wait and see” approach. [Legacy payments firm taps SG politician amid comeback bid]( Tin Pei Ling has joined DCS – formerly Diners Club Singapore – as its managing director for strategic partnerships and business development. [MADCash secures new funding to support women-led microbusinesses]( The Malaysian fintech firm is on track to reach 800 women entrepreneurs by the end of the year. [Vertex’s SPAC to merge with 17Live]( The deal values the combined firm at roughly US$846.8 million. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Foreign VC investment in China plummets 68% in 2022]( Firms in the Greater China region closed 765 deals from non-Chinese investors for the year, a 32% drop from 2021, according to a PitchBook report. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia Conference]( from October 18 to October 19 Do you see the light at the end of this funding winter’s tunnel? We do, and we believe Southeast Asia is that very light. That’s why this year’s Tech in Asia conference’s theme is Southeast Asia: A Bright Spot in the Tech World - signaling how the region can provide hope and guidance for the tech sector amid some troubling times. Hosted in Jakarta from October 18 to October 19, we’re excited to bring you a great lineup of speakers, thought-provoking sessions, and other activities. Click [here]( to get your limited first-release tickets. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this]( page](. Our team will get back to you by the next business day. - stan - [500 Global-backed Blockchain App [stan] Launches Fully Integrated in-app NFT Marketplace]( South Korea-based Blockchain Artist-to-Fan Startup [stan] Launches Fully Integrated in-app NFT Marketplace and Announces Next Stage of Growth - Cignal TV - [UAAP now available to Filipinos worldwide on Pilipinas Live]( 86 “Fueling the Future” shall be made available in the Philippines and around the world through Pilipinas Live. - VNETWORK - [VNETWORK and Scantist Forge Synergistic Alliance to Bridge Cybersecurity Gap]( VNETWORK & Scantist unite for cybersecurity synergy at ICE71, bridging 'Shift-right' & 'Shift-left' perspectives to bolster cyber resilience. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [UI/UX Internship]( at Youtap Indonesia Jakarta, Indonesia - [Accounting Staff]( at Indosole Denpasar, Bali, Indonesia - [Account Executive]( at PT. Digital Sarana Legoas Jakarta, Indonesia - [iOS Developer]( at PT Tickled Audience Platform Jakarta, Indonesia - [Social Media Intern]( at Scout.inc Jakarta, Indonesia - [Finance Manager]( at Halodoc ID 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? 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 © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894