Vertex to raise separate funds in US and Israel

HONG KONG • Vertex Holdings, the venture capital arm of Temasek Holdings, expects to raise two separate funds for investments in Israel and the United States next year after deploying most of the capital of existing funds there, its chief executive said yesterday.

The funds will target about US$150 million (S$207.3 million) each, the same size as existing funds for those countries, said Vertex group president and CEO Kee Lock Chua. The company also has a China-focused venture capital fund and another targeting India and South-east Asia.

Cyber security will be a focus of the Israel fund, while the US fund will focus on areas such as infrastructure-related software and enterprise.

REUTERS

AirAsia open to using newly developed planes

KUALA LUMPUR • AirAsia, the low-cost carrier that flies only Airbus planes, would consider using newly developed aircraft such as the Chinese-made C919 as the airline expands its fleet and destinations, chief executive officer Tony Fernandes told Bloomberg Television. The company made a key advancement in its goal to create a pan-Asian low-cost airline this month when it announced a partnership with China's Everbright group to create a budget airline in China.

AirAsia's net income in the first three months of 2017 fell to RM615.8 million (S$199.2 million) from RM877.8 million a year earlier, it reported on Thursday. It also said it plans to add 29 planes by the end of this year.

BLOOMBERG