Scorpio Electric's stinging losses

More: A digital collectibles platform comes out of stealth mode and the issue of kiasi-ism in Singaporean founders. [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: - [Behind Scorpio Electric’s financial numbers]( - Honasa Consumer’s debut on the Indian stock exchange - Other newsy highlights such as a digital collectibles startup coming out of stealth mode and breaking down the issue of kiasi-ism in Singapore. --------------------------------------------------------------- Hello {NAME} Do you believe in horoscopes? Not me - I’ll admit that they can be a tad fun if you just read them as a “wow look at this crazy prediction” thing, but it’s still interesting to know that some people out there take it really seriously. A lot of it has to do with telling fortunes and the future, basing it off a set of principles and making judgements off that. In some way, it’s similar to how we look at financial statements and try to make an educated guess as to how that company will fare. With that in mind, Scorpio Electric’s latest financial report reveals that it hasn’t been doing too hot lately. Let’s see what’s happening with the EV firm in today’s premium story. -- Jonathan  ---------------------------------------------------------------  THE BIG STORY [Scorpio Electric’s losses climb 15% amid negligible revenue in FYE 2023]( The Singapore-based EV firm posted a loss of US$2.4 million while its revenue plunged by 44% to just US$1,080. --------------------------------------------------------------- TRENDING NEWS [Mamaearth parent makes quiet debut as shares stay level]( Honasa Consumer, the Indian beauty brand’s parent company, previously set a target valuation of US$3 billion but later slashed it to around half. [Kyber Network co-founder to launch Web3 venture builder]( Through Caliber, Loi Luu aims to work with Web3 founders in building consumer apps and infrastructure for the “next wave of crypto retail users.” ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Indonesia’s ecommerce map reveals sector slowdown, company struggles]( Funding for Indonesian ecommerce players is the lowest in seven years. Some firms have pivoted while others have closed down. --------------------------------------------------------------- SINGAPORE FINTECH FESTIVAL Join SFF next week with 20% off on tickets! “As the Singapore FinTech Festival demonstrates year after year, innovation in money and payments is moving at a rapid pace. And often with the goal to rethink how we use money,” said Agustín Carstens, general manager of the Bank for International Settlements, during his keynote speech at the Monetary Authority of Singapore earlier this year. Tech in Asia is a proud media partner for the eighth edition of SFF, which will feature new zones to directly support our shared audiences. See the full agenda to learn about the Technology Zone, Founders Zone, and ESG Zone - and be part of the dialogue that shapes the future of money and payments. Excited about SFF 2023? All TIA newsletter subscribers get a 20% discount on tickets to this event. [Get yours now](. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [AD] [StartmeupHK Festival]( on November 8 to 17 It might be a little early, but it does feel like we’re already getting closer to the festive season. And what better way to be festive than with, well, a festival? We’re about a week away from Hong Kong’s biggest tech startup event, the StartmeupHK Festival, which will kick off with a series of activities at Ocean Park Hong Kong. It’s going to be a packed eight days filled with seminars and exhibitions, as well as pitching, business-matching, and networking opportunities. Sounds good? Get your tickets [here]( before they run out! - [Tech in Asia’s Founders Meetup: Vietnam on November 30]( Did you miss us last June? Great news - we’re coming back to Ho Chi Minh City on November 30 for another round of our networking event! With over 3,000+ startups and four unicorns, Vietnam is poised to become a prominent startup hub in Southeast Asia. While opportunities abound in Vietnam’s startup scene, issues like talent shortage and regulatory hurdles also persist. Need some insights on how to navigate and thrive in this scene? Come join us at the Hive Villa (29 Nguyễn Bá Lân, Thảo Điền, Quận 2, Thà nh phố Hồ Chí Minh 713385, Vietnam) from 6:30 p.m. to 8:30 p.m (GMT+7). Connect with fellow startup leaders to learn how you can grow beyond the early stages of your journey and explore solutions to pressing concerns. [Sign up now!](  - [Brushstrokes to Success: Design a Solid Growth Plan for 2024 on November 16]( Time to get creative and spice up your decision-making game with fellow senior leaders, talent managers, and founders! Hosted at Bridge+ on November 16, mingle with peers from Meta, P&G, GoTo, UOB, Oracle, Agoda, Obayashi, VMLY&R, Ant Group, Circles.Life, and more to get insider tips on supercharging your strategies. Come enjoy an evening filled with networking opportunities, free-flowing refreshments, fun quizzes, an interactive panel, an open Q&A, a modern calligraphy activity, and more - it’s all on the house! [Tickets are almost gone so grab yours now](  - [Tech in Asia x Airwallex - Exclusive Mixer]( Mingle with APAC's Payment and Growth Leaders on November 14 Meet and connect with your peers at Exclusive Mixer: Mingle with APAC's Payment and Growth Leaders, an invite-only networking event on November 14 co-hosted by Tech in Asia and Airwallex. This isn’t your run-off-the-mill corporate event. It’s a gathering of forward-thinkers across Asia Pacific and anyone eager to discover best practices in optimizing and streamlining payment journeys at scale. Grab drinks and light bites while soaking up Singapore’s cityscapes from Honcho’s rooftop bar as you mingle. Come hang out and unwind at this relaxed and casual mixer - all refreshments are on the house [Get your ticket]( to this closed-door event and build lasting connections. Slots are limited so secure yours NOW! ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this]( page](. 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Ltd. - Coin98 Finance - [Coin98 Finance Becomes Ninety Eight: Expanding Vision and Product Scope for Mass Adoption]( "Ninety Eight” reflects our ambition to transcend our original identity and embrace a broader spectrum of possibilities beyond finance. - Viction - [TomoChain’s rebrand to Viction paves the way for a victory vision]( Viction emerges as TomoChain's new name, reflecting a transformative decision to make a meaningful impact on humanity and the Web3 community. - Ultimate Fintech - [The Core Values Driving the Success of Global Broker AAAFx]( AAAFx excels by inspiring confidence and empowering traders globally with integrity and expertise. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Sales Engineer (Triputra Energi Megatara)]( at Dealls Jakarta, Indonesia - [Health Safety Environment Officer]( at Pasifik Satelit Nusantara Cikarang, Indonesia - [IT Middleware Developer - Leasing Company]( at SIGMATECH Jakarta, Indonesia - [Platform Engineer]( at PT Appfuxion Consulting Indonesia Jakarta, Indonesia - [IT Support]( at Scout.inc Jakarta, Indonesia - [QA Engineer internship]( at Evermos Bandung, Java, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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