HSBC Holdings Plc’s largest shareholder Ping An has called on the bank to be “much more aggressive” in reducing costs by cutting jobs and said the lender’s board lacks experience in Asia, the Financial Times reported on Friday. It was “urgent” that the bank should go further on cost cutting and bring down its expenses, which are far higher than… Continue reading HSBC’s shareholder Ping An seeks ‘aggressive’ cost cuts amid breakup push
Author: Deal Street Asia Online News
MY’s Kuala Lumpur Kepong eyes bigger stake in British chemicals firm
Malaysian plantation giant Kuala Lumpur Kepong Bhd is considering raising its stake in British chemicals company Synthomer Plc as it looks to further expand its specialty chemicals business globally, two sources told Reuters. Kuala Lumpur Kepong is talking with at least one financial adviser to explore potentially boosting its 26.3% stake in Synthomer, said the sources with knowledge of the matter. The stake purchase could comprise primary and secondary shares, the sources added, asking not to be… Continue reading MY’s Kuala Lumpur Kepong eyes bigger stake in British chemicals firm
UK fund manager Man Group betting on China trading opportunities
UK fund manager Man Group Plc sees ample opportunities to generate strong returns from investments in China and plans to expand its presence in the world’s second-largest economy after the country eases its strict COVID-19 curbs, its CEO said. Those returns would come from “great trading opportunities“, including placing long and short bets on Chinese equities, said Man Group CEO Luke Ellis, without giving any details. The comments come as most… Continue reading UK fund manager Man Group betting on China trading opportunities
StanChart leads Series A funding in Partior; Beosin snags $20m; and other SE Asia dealsExisting investors and founders DBS, JP Morgan, and Temasek als…
Partior, a Temasek-backed blockchain innovator based in Singapore, has announced raising an undisclosed amount in its Series A funding round anchored by UK-headquartered bank Standard Chartered. The round was also participated by existing investors and founders DBS, JP Morgan, and Temasek. The three investors founded Partior last year as an independent company that grew from… Continue reading StanChart leads Series A funding in Partior; Beosin snags $20m; and other SE Asia dealsExisting investors and founders DBS, JP Morgan, and Temasek als…
India Digest: SolarSquare raises $12m, Hitwicket snags $3m
Solar company SolarSquare has raised $12 million in a Series A funding round, while cricket gaming startup Hitwicket has secured fresh funding of $3 million. Elevation Capital, Lowercarbon invest in SolarSquare Residential solar company SolarSquare said it has raised $12 million (Rs 100 crore) in a Series A funding round led by Elevation Capital and… Continue reading India Digest: SolarSquare raises $12m, Hitwicket snags $3m
Global PE majors betting big on Japan, ChinaThe infrastructure space in China offers a lot of opportunities, PE investors say.
Global private equity giants and asset managers are betting big on opportunities in Japan and China, despite stagnant growth and mounting geopolitical uncertainty in the respective regions. “Everything’s on sale in Japan for people who have dollars,” said William Conway Jr, co-founder, interim CEO, and co-chairman of Carlyle at a panel discussion on the second… Continue reading Global PE majors betting big on Japan, ChinaThe infrastructure space in China offers a lot of opportunities, PE investors say.
Europe leans on Asia for ‘homegrown’ EV batteries
Europe’s drive to build a homegrown electric vehicle battery industry is hitting roadblocks as investors shy away from giving startups sufficient funding to challenge the Asian companies that dominate the market. With the notable exception of Sweden’s Northvolt, some startups hoping to build so-called gigafactories to compete with the Asian behemoths are going for smaller… Continue reading Europe leans on Asia for ‘homegrown’ EV batteries
Malaysia’s Maybank appoints Michael Oh-Lau as investment banking chief
Malaysia’s biggest lender, Malayan Banking Bhd (Maybank), has appointed Michael Oh-Lau Chong Jin as chief executive of its investment banking arm, effective Dec. 1 Oh-Lau will succeed Ami Moris, who is retiring after four years in the role, the bank said on Thursday. A former head of the bank’s debt markets team, Oh-Lau will oversee… Continue reading Malaysia’s Maybank appoints Michael Oh-Lau as investment banking chief
Cracks in Vietnam the latest alarm from frontier markets
Financial markets in Vietnam, Asia’s fastest-growing economy, are in an unsettling slide as a crackdown on property lending, a falling currency and rising interest rates heap pressure on banks and rattle confidence. The Vietnamese dong and the benchmark stock index are heading for their worst annual performance since the 2008 financial crisis, with only Hong… Continue reading Cracks in Vietnam the latest alarm from frontier markets
India unlikely to offer tax concessions for first sovereign green bond issue
India‘s government is unlikely to offer any tax concessions to attract investors to its first issue of sovereign green bonds, a senior government official told Reuters on Thursday. Despite that, it expects the bonds to be sold at a lower coupon rate than other government securities. The plan to issue green bonds was first discussed by Finance Minister Nirmala Sitharaman in the 2022/23 budget as a part of overall market borrowing with the… Continue reading India unlikely to offer tax concessions for first sovereign green bond issue