Company Briefs : Garuda Indonesia PropertyGuru Pinterest
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Garuda Indonesia
Flag carrier Garuda Indonesia secured on Friday approval from its shareholders to launch a rights issue in December to raise up to 14.3 trillion rupiah (S$1.3 billion), the company said.
The rights issue will allow the government to top up Garuda's capital by 7.5 trillion rupiah, a plan that had been approved by the Parliament in April, according to a prospectus for the transaction.
The government's additional investment is part of Garuda's promise to debtors to strengthen its capital following the airline's court-supervised debt restructuring programme agreed in June.
REUTERS
PropertyGuru
Singapore-based online real estate firm PropertyGuru has acquired a local home-service technology start-up, Sendhelper, for an undisclosed sum.
This acquisition signals PropertyGuru's entry into the home-services industry, said the company on Friday. It does not expect the move to have a material impact on its FY2022 results.
Sendhelper is an online platform through which homeowners and tenants search for and book home services, such as cleaning, air conditioner maintenance, and handyman and repair services.
THE BUSINESS TIMES
Pinterest Inc is slowly digging itself out of the hole that social media stocks find themselves in, thanks to its greater reliance on search-driven advertising.
Shares in the digital pin-board platform have risen 34 per cent from a two-year low in mid-June, as analysts note improving growth in the number of users on the site, as well as how much they are interacting with content there. One advantage the site has over rivals is that users often visit it with shopping in mind. Pinterest has worked in recent years to help advertisers and retailers sell products directly on the site.
BLOOMBERG
