Monday, 28 September 2026 · SEA Deal Ticker

SEA Deal TickerMon, 28 Sept

Why did a Pentagon-backed firm pay US$120M for a Vietnamese miner?

China curbed bismuth exports, so Washington shops in Vietnam: Elmet pays US$120M for 5% of Masan's miner — TNGlobal · Permalink
Elmet, a US metals firm the Pentagon backed with US$450 million this month, paid US$120 million for 4.99% of Masan High-Tech Materials, which runs Vietnam's Nui Phao tungsten mine. Elmet also gets 12 months of exclusive talks on bismuth supply.
Positive-sum angle: Bismuth is a metal used in medicines and radiation shielding, and China restricted its export in 2025. Any Vietnamese supplier of a metal China controls now has a buyer in Washington.
The World Bank's investment arm backs a Malaysian e-wallet: IFC puts US$20M into Boost — DealStreetAsia · Permalink
IFC, the World Bank's lender to private companies, bought US$20 million of shares in Boost, which values it at US$340 million. Boost Bank's loan book reached US$100 million (RM418 million) in June, two years after launch.
Positive-sum angle: Boost Bank lends to small businesses off their payment data. A Malaysian stall owner turned away by a bank for lack of collateral has one more lender with fresh money to spend.
Growth money for Vietnam's mid-sized firms: Excelsior closes its second fund above US$170M — DealStreetAsia · Permalink
Excelsior Capital Vietnam Partners closed its second fund at more than US$170 million. The Ho Chi Minh City team puts growth capital into mid-sized Vietnamese companies in healthcare, consumer goods, education and technology.