Thailand’s Revenue Department submits an amendment to the Revenue Code, proposing to impose a 10% capital gains tax from investment gains in the cryptocurrency trade and Initial Coin Offering (ICO). The country’s government claims to try its best to issue the new law to regulate ICOs and cryptocurrencies this month.
India’s ride-hailing company, and Uber’s direct competitor, Ola, launches its service in Sydney, Australia, as its first foray outside of its home turf. The Didi Chuxing-backed company has signed up over 7,000 registered drivers in Sydney, where Uber and Europe’s Taxify are existing players.
Malaysia’s Digi Telecommunications rolls out a digital payment initiative to help local business in making payments and transactions online, with a mobile payment terminal that allow businesses to receive card-based payments for products and services without needing to be tethered to a physical phone line.
In its attempt to compete with Tencent-backed Mobike, Beijing-based bike-sharing startup Ofo has raised $866 million, led by Alibaba. The announcement would put off speculation of the possible merger between Ofo and Mobike, the two largest bike-sharing players in China.
The retail conglomerate Dairy Farm, who operates Cold Storage, Guardian, Giants and others in Singapore, claims to seize the operations of their lossmaking stores in Singapore, as part of the new strategy announced by its new CEO, Ian McLeod. Under his roadmap, McLeod also to grow in China, maintaining a strong position in Hong Kong, revitalising Southeast Asia, and driving digital innovation.