Asia Pacific

Headlines

Hindalco raises ₹3,350 crore via QIP

Hindalco Industries, an Aditya Birla group company, has raised ₹3,350 crore through issue of shares under qualified institutional placement, largely to pay back high-cost debt and invest in value-added aluminium and copper products. The capital-raising committee of the company’s board met here on Thursday and approved the proposal to allot 17.68...

Survey by MVision and London Business School reveals private equity’s attitudes to Chinese outbound acquisitions

Chinese money to heat up M&A in next 12 months Report released by MVision Private Equity Advisers and the London Business School reveals private equity’s attitudes to Chinese outbound acquisitionsPrivate equity firms expect to face more competition from Chinese buyers over the next 12 months across multiple sectors, with healthcare expected to see...

Strong year forecast for Asia Pacific M&A

Optimism is high for M&A in Asia Pacific following a solid 2016, Herbert Smith Freehills says.“2016 presented Asia Pacific’s dealmakers with a range of challenges including low commodity prices, volatile capital markets in some parts of Asia, a new US administration, along with the global shock of Brexit," commented Andrew Pike, Herbert Smith Freehills’...

​ChinaSavvy lands prestigious USD 1.3 million engineering contract to supply components for high-tech storage systems

Christopher Devereux, the Managing Director of ChinaSavvy today announced the company’s receipt of a USD 1.3 million order to supply components for high-tech robotic storage systems by Hamilton Storage, a global company with headquarters in Massachusetts, United States.ChinaSavvy is a British owned and managed engineering and manufacturing company...

Baird Capital expands in Asia

Baird Capital, the direct private investment arm of Robert W. Baird & Co. (Baird), today announced that Andy Tse, CFA has joined the firm as a Partner to help lead its investment efforts in Asia. Tse is a member of Baird Capital’s global team working to identify and pursue investments in the technology & services sector.A veteran executive with more...

Finance

The Thai junta’s 20-year plan omits the most urgent item

WHEN its tanks rolled into Bangkok in 2014—ousting an elected government that had been paralysed by protests—Thailand’s ruling junta promised that democracy would be back in a jiffy. Three years on, there is still no sign of the promised polls. Instead, in mid-March, the generals treated diplomats and foreign journalists to a briefing on...

The governor of Tokyo declares war on her own party

Tokyoites first, LDP second IT IS hard to exaggerate the gall of Yuriko Koike, the governor of Tokyo. She is a member of the Liberal Democratic Party (LDP), which dominates Japanese politics, and briefly served as minister of defence a decade ago. Yet last year she won her current job by running as an independent, against the LDP candidate. Last...

How a Chinese fishing fleet creates facts on the water

ON A past visit to the little fishing port of Tanmen, on the island-province of Hainan in southern China, pigs were being driven onto the foredecks of wooden trawlers, while water butts were being lashed down at the stern. Farther down the quay, similar boats were about to unload their catch after a month at sea: not fish but giant clams, Tridacna...

A Hindu priest takes charge of India’s most populous state

TO SOME he is both hero and saint: a shaven-headed, saffron-robed servant of the Lord Shiva who has been elected five times in a row to India’s national parliament and elevated, at just 44 years of age, to the highest political office in a state of 220m people. To others the choice of Yogi Adityanath as the chief minister of Uttar Pradesh (or...

Why China is wrong to be furious about THAAD

THE Chinese authorities are so angry with South Korea that they have cheered on boycotts of South Korean goods and culture, persecuted South Korean firms operating in China and discouraged Chinese tourists from visiting South Korea. China is South Korea’s biggest market for exports (it spent $137bn on South Korean goods in 2015, nearly twice...

Legal

MPs seek clarity on UK approach to EU digital single market policies in light of Brexit

The European Scrutiny Committee at the UK parliament said that it is not clear whether the UK government would be able to implement the policies through UK legislation alone, or whether implementation would require a "bilateral agreement" with the EU.The Committee's report noted that the UK government has given its support, in principle, to the package...

'Permission in principle' for brownfield housing sites to come into force next month

The 2017 Permission in Principle Order, which comes into force on 15 April 2017, will provide automatic permission in principle (PiP) for housing-led development on land included in part 2 of the new brownfield land registers, which must be published by each local planning authority (LPA) by the end of this year. Separate regulations to create brownfield...

BREXIT: German firms predict serious damage to trade with UK

Brexit is expected to "seriously damage business" with the UK, according to the survey of 2,200 internationally operating German companies. Almost 10% of firms that have invested in the UK plan to move their money out of the country, the DIHK said.  Smaller firms with revenues of between €10 million and €50 million per year and those that import...

BREXIT: Time for financial services firms to take tangible action on EU exit, experts say

Key areas to consider immediately are the structure of the business, contractual arrangements, planning for regulatory change and closely monitoring developments. Business structureThose that have not already done so should immediately review their business structure, establishing the extent of their cross-border operations and their use of regulatory...

New South Wales pioneering the use of operator-led PPP procurement model in healthcare

The operator-led PPP procurement model, adopted by the New South Wales government, is different from traditional PPPs in that it involves private sector operators delivering healthcare services.The model can facilitate competition in the market and deliver good outcomes for patients, but public opposition to private sector involvement in healthcare...

Deals

Inox Renewables to sell wind power assets to Leap Green Energy

Leap Green Energy said the acquisition will help it increase its operating capacity to 762MW across four states Inox Group has decided to exit the wind farm business to focus on its core businesses, including that of wind turbine manufacturing. Mumbai: Renewable energy firm Inox Renewables Ltd on Tuesday said it has agreed to sell its operating wind...

Asia-Pacific financial sector M&A declines amid uncertainty

Volume falls 38% amid global turmoil; China, South Korea post growthThe number of mergers and acquisitions involving financial companies in the Asia-Pacific region dropped 10% in 2016 from the previous year amid increased global uncertainty, according to Deloitte Tohmatsu Financial Advisory.The business of buying and selling companies was negatively...

​Advent International acquires significant minority stake in ASK Group, a leading investment and wealth manager in India

Partnership to focus on accelerating ASK’s growth by strengthening its team, launching new products and expanding internationally.Advent International, one of the largest and most experienced global private equity investors, today announced that it has acquired a significant minority ownership interest in ASK Group (“ASK”), a leading investment...

Chinese government money backs buyout firm’s deal for U.S. chip maker

Canyon Bridge Capital Partners, a buyout fund that agreed to acquire U.S.-based chip maker Lattice Semiconductor Corp for $1.3 billion earlier this month, is funded partly by cash originating from China's central government and also has indirect links to its space program, Chinese corporate filings show.Reuters, in a review of about a dozen filings...

Japanese electronics and ceramics manufacturer invests in British business

KYOCERA Document Solutions UK, one of the world's leading document solutions companies, announced the acquisition of Annodata, one of the UK’s largest independent providers of managed print and ICT services.  The acquisition, which was led by Kyocera Corporation in Japan, significantly increases the capabilities of KYOCERA Document Solutions...

Acq Lite

'Battlefront II' game trailer to be shown, Mark Hamill to speak at 'Star Wars Celebration'

March 30 (UPI) -- The first trailer for the upcoming video game Star Wars Battlefront II is scheduled to be unveiled on April 15.The clip will debut during a panel discussion with the game's developers at the Star Wars Celebration Orlando fan convention. The teaser will also be posted online.In other Celebration news, organizers have confirmed a program...

Tim McGraw and Faith Hill to perform duet at Academy of Country Music Awards

March 30 (UPI) -- Married superstars Tim McGraw and Faith Hill are to perform a duet at Sunday's Academy of Country Music Awards show in Las Vegas, CBS announced.Other acts scheduled to take the stage together at the T-Mobile Arena are Reba McEntire and Lauren Daigle; Thomas Rhett and Maren Morris; Cole Swindell and Dierks Bentley; Keith Urban and Carrie...

Maksim Chmerkovskiy has surgery to repair calf injury

March 30 (UPI) --Dancing with the Stars pro Maksim Chmerkovskiy shared on social media a photo of himself in his hospital bed before undergoing surgery to repair a calf injury."Gettin' unbroken," the 37-year-old dancer captioned an Instagram photo of him smiling, while wearing a hospital gown and with an intravenous line coming out of his hand.Us Weekly...

Oscars to retain PricewaterhouseCoopers after Best Picture gaffe

March 29 (UPI) -- Despite its accountant's infamous Oscar flub, PricewaterhouseCoopers will retain its high-profile position overseeing balloting for the Academy Awards, the group's president said Wednesday.Cheryl Boone Isaacs, president of the Academy of Motion Picture Arts and Sciences, said in a letter to members the academy would retain PwC, though...

John Legend gives surprise performance in London train station

March 29 (UPI) --John Legend surprised fans Wednesday with an impromptu performance in a London train station.The 38-year-old American singer serenaded commuters with his songs "Ordinary People," "All of Me" and "Surefire" at St. Pancras International terminus in Camden."Arriving at London @StPancrasInt on @EurostarUK. Do they still have that piano...