Courtroom chronicles await Indonesia's Avirtech

Check out our top articles for the week. [Read from your browser]( Top Stories of the Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} Avirtech Group, a company that specializes in drone services for palm oil plantations, is beginning the year with a legal brawl. The agricultural drone company has terminated its CEO, Rendy Ferixsen The, for alleged "serious misconduct." The firm, which was recently acquired by Terra Drone, is accusing its former top executive of redirecting resources to his personal venture, undervaluing assets, and poaching employees. However, The’s lawyers told Tech in Asia that he voluntarily resigned on December 2, 2023, due to suspected irregularities in the management of funds by Avirtech’s COO, Wilson Ong. However, a police report filed by Ong’s lawyer claims that The and his family members embezzled about US$1.2 million through unauthorized deals. Meanwhile, Ferdy William The, the ex-CEO’s sibling and majority shareholder of Avirtech’s Indonesia entity, has also filed police reports alleging that Ong had committed data theft and violent theft of drone spare parts. Both parties have yet to provide further comments. I guess we’ll have to stay tuned for their next moves. -- [Lokesh Choudhary]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Indonesia’s Avirtech fires CEO, to pursue legal action]( Avirtech, which was acquired by Terra Drone last year, alleged that its chief executive officer Rendy Ferixsen The, redirected clients and resources toward his personal venture. 2. [Fintech and ecommerce lead the way in SEA’s turbulent tech year]( In the second half of 2023, the value of deals was 87% higher than in the first six months of the year, Tech in Asia data shows. 3. [Lazada expected to let go up to 30% of staff: sources]( The job cuts are expected to hit the customer care, marketing, and commercial teams the most across all of Lazada's markets. 4. [Middle Eastern investors fill vacuum left by SoftBank in SEA venture scene]( Besides SoftBank and Tiger Global, Chinese investors have also retreated from investing in late-stage deals in Southeast Asia. 5. [Tracking PDD’s Temu-fueled rise to surpass Alibaba in market value]( We look at what’s behind this changing of the guard. 6. [Southeast Asian investors bullish on electric bikes, clean energy in 2024]( While the electric two-wheeler has attracted the highest investment in 2023, VCs are looking at other sustainability sectors to invest in. 7. [The SG startup showing how 3D mapping isn’t just Google’s game to lose]( Vizzio uses AI and deep-learning algorithms to create detailed 3D city maps without relying on expensive 360-degree cameras like Google 8. [Ula, Udaan’s struggles cast shadow on B2B ecommerce’s future]( Here's why these well-funded startups, which serve neighborhood stores in Indonesia and India, respectively, are facing significant challenges. 9. [Wastewater recycling can be greener, cheaper with this Singapore firm’s solutions]( Hydroleap’s industrial wastewater recycling solutions help clients reduce power and water consumption, saving them around 50% to 60% in costs. 10. [This Hong Kong startup develops AI to help banks find dirt on SMEs]( InRiskable is using AI to mine websites and court filings to look for signs of money laundering and other problems that could put banks at risk. --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. [logo] [Java Springboot - Tangerang]( at SIGMATECH Tangerang, Indonesia IDR 10,000,000 – 12,500,000 [logo] [Digital Advertising Associates]( at BASED by Basil Jakarta, Indonesia IDR 4,500,000 – 6,000,000 [logo] [UI/UX Designer]( at PT Kawan Lama Sejahtera Jakarta, Indonesia IDR 8,000,000 – 15,000,000 [logo] [Platform Engineer]( at Lion Parcel Jakarta, Indonesia Jakarta, Indonesia [logo] [IT Project Acquisition (Informatika Media Pratama)]( at Scout.inc Jakarta, Indonesia [logo] [Finance Operations Officer (GPay)]( at GTech Digital Asia Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( 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](  ---------------------------------------------------------------  Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi. Copyright © 2024 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894