TransTrack CEO’s honest comeback

More: SG authorities suspend Qoo10’s payment services. [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: - [Why TransTrack’s backers invested despite knowing its CEO’s previous conviction]( - Why Xiaomi seeks the withdrawal of an Indian watchdog’s antitrust report - Other newsy highlights such as Qoo10 facing the suspension of its payment services in Singapore --------------------------------------------------------------- Hello {NAME} When we make a mistake, our natural inclination is to hide it. From children spilling drinks to politicians with shady dealings, many of us would rather be in denial or even blatantly lie than face the music. But coming clean is far better in the long run, as the cover-up is typically more egregious than the actual crime. For the best example, just look at the mother of all scandals: the Watergate scandal. Pretty much everyone values transparency and believes that facing up to the error of your ways is something to be applauded. Today’s featured story is about a founder who committed major blunders in the past and whose transparency in disclosing them seems to have paid off, even helping her win the trust of investors. Read on for more details. -- Peter  ---------------------------------------------------------------  THE BIG STORY Indonesian logistics startup TransTrack has secured US$12 million in series A funding despite its CEO's past fraud conviction. Investors say they found out about the case during their due diligence process and were convinced by the executive's transparency. [Click here]( for the whole story.  --------------------------------------------------------------- TRENDING NEWS [Singapore orders Qoo10 to stop payment services]( The Monetary Authority of Singapore has ordered ecommerce platform Qoo10 to suspend payment servicesamid customer complaints about delayed disbursements to merchants. The firm is also under police investigation in the city-state. [Xiaomi asks Indian gov’t to withdraw antitrust report]( Chinese consumer electronics giant Xiaomi has asked an Indian government body to withdraw its antitrust investigation report. Created by the Competition Commission of India (CCI), the report found that Xiaomi and local ecommerce player Flipkart had violated competition laws. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Asia layoff tracker: Partior cuts 30 staff as losses mount]( Tech firms are dismissing staff to stay afloat as headwinds hit Asia. This layoff tracker is keeping tabs on marching orders. --------------------------------------------------------------- SYNC 2024 - AI • SINGAPORE  Meet the leading minds who are shaping the AI landscape SYNC 2024, taking place on October 8 at Capella Singapore, will bring together Asia's leading minds in AI. We're excited to announce our full speaker lineup: Oliver Jay from OpenAI and Min-Liang Tan from Razer. These industry leaders will share their insights and expertise, providing valuable perspectives on the latest AI advancements and their impact on various sectors. Attendees will get the opportunity to engage in focused discussions and participate in curated roundtables that explore key AI topics such as climate change applications, and fintech innovation. Most importantly, they’ll also get to network with top founders, investors, and AI experts in exclusive private sessions designed for strategic collaboration. SYNC is designed for a group of 100 hand-picked C-level executives. 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