Rounding up top investing articles from around the web, including articles shared on Twitter.
Qoo10 under Singapore police probe as vendors lodge reports over delayed payments (Straits Times)
Singapore-headquartered e-commerce platform Qoo10 and its logistics subsidiary Qxpress are under police investigations, following complaints by vendors about delayed payments of thousands of dollars each and disruptions to deliveries by Qxpress.
In response to queries from The Straits Times, the Singapore Police Force said on Sept 12 that reports were lodged against Qoo10 and Qxpress, and that they are investigating.
Qoo10, which is backed by the likes of private equity firm KKR and e-commerce giant eBay, did not respond to ST’s requests for comments. Both KKR and eBay declined to comment.
Vendors told ST that Qoo10, which also has operations in Malaysia, Indonesia, Japan and Hong Kong, has failed to pay them on time.
A spokesperson for a haircare retailer, which declined to be named, said Qoo10 owes the company nearly $32,000. He added that the retailer removed its listings from the platform on Sept 12.
A proposal to replace cow’s milk with “fish milk” in Indonesia’s upcoming free meals programme for students has fed online debate among Indonesians and caused a stink with some nutrition experts.
The signature 71-trillion rupiah (US$4.6 billion) “free nutritious food for children” programme, touted by president-elect Prabowo Subianto and vice-president-elect Gibran Rakabuming Raka during their campaign as a solution to eradicate child stunting, will be rolled out once they take office in October.
The “fish milk” in question actually refers to a food product processed from fish protein.
The drink is made by processing fish protein hydrolysate to produce a protein drink