Business Times1d
Fraud-hit eFishery slashes over 1,000 jobs as company weighs liquidation
INDONESIAN aquatech unicorn eFishery is ramping up plans to axe employees as it struggles to manage the fallout from its ...
Asia Asset Management8d
Fraud at Asian startups ignite concern about investing public funds in high-risk firms
FashionValet burst into the spotlight in November when Malaysian sovereign wealth fund Khazanah Nasional and Permodalan Nasional, the country’s largest fund management company, incurred a 43.9 million ...
The Edge Singapore8d
eFishery was a valuation scandal, not accounting fraud
The outcome was an extravagant valuation that had no connection to fundamentals. Even with its fabricated revenue, eFishery was trading at an EV/Sales ratio of two times. Agri-processors such as Japfa ...
The Jakarta Post15d
eFishery scandal exposes weak governance in Indonesia's tech start-ups
Yet, as the recent financial troubles at eFishery, KoinWorks and Bukalapak demonstrate, many Indonesian tech start-ups are built on precarious foundations, reminiscent of houses constructed on sand.
dealstreetasia18d
eFishery may have a long runway, but investors debate whether to save or let go
Beleaguered Indonesian aquatech unicorn eFishery, which has raised multi-million-dollar funding rounds from investors such as Abu Dhabi’s 42XFund, Malaysia’s KWAP, Switzerland’s responsAbility, ...
dealstreetasia20d
Editor’s Take: The Week That Was—Jan 20-25
He had taken over when eFishery’s board suspended its co-founders Gibran Huzaifah and Chrisna Aditya in December. Meanwhile, eFishery’s labour union held a peaceful emergency townhall on Thursday ...
Indiatimes21d
eFishery fiasco has ripples in India
The staggering misstatement of financials at Indonesian unicorn eFishery has sent shock waves not just in the southeast Asian startup ecosystem but also in India. The USD1.4 billion-valued aquaculture ...