11 Apr '18, 6am
At $150 billion, Singapore's Temasek is wearing rose-tinted glasses with Jack Ma's Ant Financial
Alibaba was able to grow into its valuation unimpeded, thanks to robust expansion of China's consumer sector and the rise of e-commerce. Three-and-a-half years later, it has a market cap of $454 billion. For Ant to follow the same trajectory it'll need to keep going deeper into the financial and personal lives of Chinese citizens, finding more ways to extract value in the form of commissions, fees or data.