Alibaba'S Ambition Is Becoming More And More Aware Of Thailand'S Richest Man.

Alibaba's ambition in Southeast Asia has been gradually revealed.

In June 20th, it was reported that

The payment related company ant Jin suit plans to acquire shares in Thailand AscendMoney20%, hoping to become the main financial service provider in Southeast Asia.

Part of the statement shows that ant gold suit also hopes to get the option to increase AscendMoney shares to 30%.

The Ministry of commerce is currently reviewing the plan.

But the financial information, approval process and timetable for the paction have not yet been disclosed.

AscendMoney is a newly established subsidiary of AscendGroup, and AscendGroup was split from TrueCrop, one of the three major telecom operators in Thailand, in early 2015.

AscendMoney has an official background from birth.

AscendGroup's business scope includes

Electronic payment, digital marketing and venture capital. It is a subsidiary of agricultural comprehensive group.

CEO is the richest man in Thailand.

According to the Bangkok post, April, AscendGroup will spend $170 million on scale expansion this year, of which 83% will be spent in countries or regions outside Thailand.

It has been extended to five Southeast Asian countries, including Vietnam, Kampuchea, Burma, Indonesia and Philippines.

Ascend's subsidiaries include TrueMoney, an online payment service provider and an authorized financial service provider AscendNano, which is very similar to Alipay's business in China.

AscendNano is a small loan and personal loan provider. Its goal is to popularize e-commerce and electronic payment services in places such as Burma and Indonesia, where many people do not even have bank accounts.

TrueMoney provides cash withdrawal cards and electronic wallet services, and holds financial services licences in some important Southeast Asian markets.

AscendGroup's public relations official said on Saturday that the company did not comment on the Alibaba affiliate's plan to acquire equity.

This is the latest move for Alibaba to enter Southeast Asian market.

In an announcement last Saturday, ants said that the company is committed to promoting extensive financial services in China and abroad. The proposed investment reflects the commitment of the ants to expand the international market so that more people around the world can enjoy equal financial services.

The company also said that the proposed investment is subject to the approval of the anti monopoly Department of the Ministry of Commerce of China.

In order to maintain high growth rate,

The ant business suit for the core business has turned its attention overseas.

However, because of the obvious differences in various places, the application scenes in various places are mainly concentrated in the e-commerce and payment fields, and they will conflict with the local payment business in various countries.

The acquisition is undoubtedly a more efficient and more strategic choice.

Before Thailand, ant gold clothing has been distributed in the markets of India, Korea and Singapore.

The India market is very representative.

India is a big country with only a population in China, and its market is booming.

In order to snatch the India market, Alibaba has invested in Flipkart and Snapdeal India electric company.

At the beginning of last year, ant gold clothing bought 25% of Paytm, the largest mobile payment company in India.

Paytm is similar to "Alipay in India".

At the end of September of this year, Alibaba, ant gold clothing and Paytm parent company One97Communication reached an agreement. Alibaba and ant gold clothing will continue to invest strategically in Paytm.

Although Ali did not disclose the scale of the specific investment, Sina Technology quoted the insider in June as saying that Alibaba will invest $600 million directly in Paytm, making the total shareholding ratio of Alibaba to Paytm reach about 40%.

But not all markets welcome Alipay's arrival.

Ant gold clothing announced the launch of Internet banking KBank with a number of Korean companies, and was allowed to carry out deposit and loan business in Korea.

However, according to the information disclosed by Korean media, the proportion of ant gold clothing holdings is only 2%.

On the other hand, South Korea has limited shares to non-financial enterprises and foreign-funded enterprises. The company hopes to find partners like Paytm in South Korea.

According to the latest statistics, the ant gold suit is currently providing services in 70 countries and has received 4 billion 500 million dollars in financing.

Ant gold clothing said the company hopes to expand the global market, so that more than 450 million of Alipay's customers can travel overseas to use their electronic payment applications.