The IMF’s announced its decision to include the Renminbi as a reserve currency in the Special Drawing Rights (SDR) basket of currencies alongside only the Yen, Dollar, Euro and Pound. This is a reflection of the opening up of the Chinese economy and the release of currency controls, according to the announcement. It demonstrates China’s global economic strength.
The9 and Qihoo360 jointly announced that their joint venture company Oriental Shiny Star Limited has signed a $500 million deal with Smilegate for 5-year exclusive licensing and operations rights for Crossfire 2 in China. The upfront payment is $50 million, and the remaining $450 million will be paid step by step as the game “reaches set development and operation milestones.” The9’s current market cap is no more than $70 million, but the upfront payment is $50 million and the total $500 million doesn’t even include royalty payments. Oriental Shiny Star Limited belongs to System Link, and System Link is a 50/50 joint venture created by The9 and Qihoo360. The operator of the original Crossfire is Tencent, and Tencent recently announced the renewal of the contract with Smilegate to operate that game in mainland China.
MOL was beaten up by institutional investors when it launched its IPO last year, but the company is doing well now according to the report of 35.5% top line growth in Q3 2015 over Q3 2014. MOL has long been a strong force in online payments and distribution of online and mobile games in SEA, and the region is growing quickly.
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