After a series of acquisitions over the past few years, as well as the ‘financial data errors’ incident which saw a delay in its reporting, MOL Global will have a smaller appetite for mergers and acquisitions in 2015.
MOL Global Inc, an e-payments company based in Malaysia, continued to face the backlash of disappointed investors as its share price plunged more than 80% from the opening price on its Nasdaq debut on Oct 9, 2014.
Despite Rocket Internet coming into the Vietnam market in a big way in February last year, PeaceSoft group CEO Nguyen Hoa Binh believes he has the right strategy to counter the big-spending German company.
DNA charts the entrepreneurial journey of Peacesoft chairman Nguyen Hoa Binh, an Internet icon in his home country of Vietnam.
Calling it the last piece in his multi-continent acquisition spree to position MOL as Asia’s leading e-payment provider, Ganesh Kumar Bangah, MOL Global’s founder and chief executive officer, has acquired a 50% stake in NganLuong, one of Vietnam’s largest online payment and escrow platform providers for domestic and cross-border e-commerce.