New CEO believes in the potential of Habitat. Expansion planned for three more countries Mr. Ong Lay Ann, the new CEO for Honestbee, is confident that it is able to expand outside of its Singapore base. Although Honestbee faced recent difficulties and had to stop some of its services , its recently appointed CEO has intiated plans to restart the business. It has begun an i...

Alibaba has announced its financial results for the first quarter ended June 30, 2019. Total revenue was up 42% to CNY114,924m (US$16,741m) YoY. Continue to invest in technology In a press release, Daniel Zhang, Alibaba’s CEO, said, “ We will continue to expand our customer base, increase operating efficiency and deliver robust growth. With strong cash flow from our core commerce business...

Chinese ecommerce company JD.com reports second quarter revenue that topped market expectations and a net profit, following a loss in the same period last year. Investments beginning to pay off The company reported net revenue of CYN150bn (US$21.9bn), a 22.9% year-on-year rise, for the April to June quarter, exceeding the market consensus of CYN147.5bn. Net income attributable to ordinary s...

Alibaba is reportedly in talks with NetEast to acquire its cross-border ecommerce platform Kaola . Ecommerce landscape consolidating While neither Alibaba nor Kaola have commented on the potential deal, Sina Finance reports Alibaba could pay as much as US$2bn for the takeover. Alibaba could merge Kaola with Tmall Global, sharing logistics and expertise to drive growth. For the longer term,...