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Tech’s Startup Hot New Market: The Poor

This is the origin story Merrill tells when asked how someone with his high-end tech credentials wound up starting a company, ZestFinance, to lower the cost of credit for so-called “subprime” borrowers like Vicki

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Douglas Merrill’s sister-in-law Vicki needed new snow tires. Without them, the single mother of three, who was going to school while also working full-time, couldn’t get to work. She’d lose her job.

But Vicki was in a bind. She couldn’t pull the money together to cover the unexpected expense. So she called Merrill, who gave her his credit card number. As the former chief information officer at Google, he could afford to foot the bill. But he was curious: What would Vicki have done if she didn’t have a well-off family member to turn to?

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“‘I’d have taken out another payday loan,’” Merrill says she told him. “I thought it was unfair that she could call me and other people couldn’t.”

This is the origin story Merrill tells when asked how someone with his high-end tech credentials wound up starting a company, ZestFinance, to lower the cost of credit for so-called “subprime” borrowers like Vicki. What kind of loans? Payday loans. Kind of. Not really. But really.

via Tech’s Hot New Market: The Poor | Wired Business | Wired.com.

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Ecommerce

Pakorn Peetathawatchai, President, The Stock Exchange of Thailand (SET)

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Pakorn Peetathawatchai, President, The Stock Exchange of Thailand (SET)

What measures has SET taken to support listed companies’ compliance with ESG standards?
PAKORN PEETATHAWATCHAI:

PAKORN: When we first began promoting ESG-compliant investments, we were met with little interest. We attributed this to a lack of clear data to showcase the economic benefits of ESG investment, and perhaps limited clarity as to what constitutes a sustainable or ESG-compliant investment. The launch of the THSI list and, subsequently, the SETTHSI Index, was designed to address this. Our most recent data, comparing returns for the SETTHSI Index with the broader SET and SET100 indices from April 2020 to April 2021, underscores the economic benefits of these investments: the group compliant with ESG standards outperformed the other two indices on every data point. 

As of May 2021 Thailand was home to CG and ESG assets under management totalling BT54.8bn ($1.7bn) across 50 funds – up from 23 funds in 2019. Meanwhile, of the BT187.1bn ($5.9bn) raised in green, social and sustainability bonds since 2018, BT136.4bn ($4.3bn) was raised in 2020 – 83% from the government and the remainder from development banks and private players. This rising demand, in a move to manage risk and generate returns, has been complemented by growing supply and promotion: supply from ESG-compliant businesses aiming for resiliency and sustainable growth, as well as promotion from regulators highlighting investment opportunities with good CG and SD practices. Indeed, the pandemic has been a catalyst in shifting the view of ESG compliance from a luxury to a requirement in the new normal.

In what ways can enhanced standard-setting and regulatory mechanisms overcome the remaining barriers to improved ESG performance?

PAKORN: A multi-stakeholder approach is crucial for enhanced ESG performance – not only in Thailand, but around much of the globe. This can also help to address the standout incumbent challenge: access to reliable, wide-ranging ESG data. For example, the 2020 update to the 56-1 One Report established clear ESG standards and triggered online and offline capacity-building programmes to support listed firms’ compliance. SET is developing an ESG data platform with a structured template to promote the availability of comparable data, maximise value added from corporate sustainability disclosures, and foster collaboration between the business value chain and stakeholders. This is expected to support Thai companies along their ESG journey in an economically sustainable way, result in a greater number of sustainability-focused products and services, drive sustainable investing in the Thai investment community and ultimately “make the capital market work for everyone”, as outlined in the SET’s vision.
 

 

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Asean

China Sustains Huge Ecommerce Development Investment Flows into ASEAN

What Asia Investment Research showed us that there were China outbound investments into several ASEAN markets, led by Singapore, and followed by Indonesia, Malaysia, Thailand, and the Philippines. Collectively, these markets saw circa 30 investments n Q3, or about 15 percent of total Chinese outbound volume. 

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ASEAN Inbound Investments from China show strong trends in developing digital trade infrastructure.

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