By Nathan Layne
The US government made the allegation in a lawsuit filed last week.
It will be the first IPO by a firm from the Southeast Asian nation.
Investors include Accord Ventures, Hoop Partners and IT company Startia.
The joint venture is expected to occupy a wider country agenda.
It invested $2.34m in Philippines’ Autodeal and $1.2m in Vietnam’s Propzy.
GoBear and WorldRemit are foreign firms while GetCover and MoneyMatch are local startups
Last year in March, Carsome closed a $2 million Series A funding round
Malaysian venture earns a return on equity of 8.5%, compared with 10% at ANZ.
The firm will look for an investor with experience and expertise in the business
WebTVAsia is aggressively expanding its regional footprint.